One single person/entity on Bitfinex has controlled the entire bitcoin market from $200 till now. The only time that person/entity wasn't controlling the market was when the price briefly went higher on Bitstamp and GDAX when it was like $2700 recently. Some people liked to make believe exchanges like Huobi controlled the market for a while, but they just use fake volume to paint the tape and they could never move the market higher than exchanges like Finex allowed. The rare exception to this rule might be that one enormous OKcoin short squeeze, but it might be the same entity from Bitfinex squeezing OKcoin shorters too. Whether the price of bitcoin is high or low, the price is always based on a tiny handful of fraudulent actors and a few crooked exchanges. The sole actor controlling the market is just as likely to be the exchange owner himself as an external entity as well. We've already seen this precedent with Gox and it probably still continues to this day. Poloniex is another fishy example. It used to be where 2000 BTC volume for a coin per day was huge, then overnight suddenly every coin has 50,000 BTC volume for no reason. I have a feeling there is something not good going on behind the scenes of that. |
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Because this joint attracts enough fellow anti semites for some reason.
Yes, you're so correct. There are only 195 countries in the world and the jews have been kicked out of over 100 of them since 0 AD, not because they always attempt to form a state within a state to the detriment of the native population - while also practicing usury enslavement against them - but because everyone on earth is just so irrationally anti-semitic! |
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Problem is: the rest of the world does not care about PMs right now. It's dead. Could be a contrary indication  Well duh, you buy before the bubble when nobody else is talking about it, not during it. There was no more obvious reverse indicator for bitcoin than this: |
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Interesting to drop by very occasionally to see who's around, gone mad, still hodling, etc. I see r0ach has flipped.
The only reason I mess with bitcoin now is to try and profit on swings. I don't see any reason to support bitcoin ideologically since it's completely inferior to gold and silver as money and a store of value, while it's also inevitable that if bitcoin doesn't die, it will be co-opted by the state - turning it into a cashless society slave system. I articulated all of those reasons in this post: https://steemit.com/bitcoin/@r0achtheunsavory/the-r0ach-report-13-why-the-economics-of-bitcoin-don-t-actually-work-what-satoshi-really-meant-when-he-said-the-price-wouldBitcoin is more like a cult based on a bad economic system rather than sound money. Yes, you can make money in the short term, but only because it's designed as a get rich quick scheme to try and force others to buy in higher. But in the long run, it has to actually function as a store of value...and it doesn't. The second the majority of market participants realize this, the bottom will drop out and all that money will head to the base of Exter's pyramid (gold and silver). I prefer silver for higher upside potential. I still don't see why YOU are posting HERE If you don't believe in Bitcoin perhaps you should go and peddle your logic in a forum of your peers? Posting steemit links makes him money. Crypto money. Nah, I just know both Larimers so decided to use their system instead of some weird site like Medium. Most of what I type isn't politically correct, so it's also less likely to be censored there. |
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There are many stores of value. But it's better we don't go into that argument again. I have one question for you... Why that obsession you have with gold and silver? I already know your opinion about Bitcoin, so... What do you think about real estate? Excepting some of the past years it has historically been a great store of value which can also give you some additional yearly returns (3-10%). Because real estate is in a horrific bubble. We will need someone really old, like dinosaur age to confirm this (maybe Jimbo), but I believe in ancient times, you could buy a house with only 2x the average yearly salary. Now the price is more like 4-10x or higher. Real estate will collapse at least in half. CB's just reinflated the real estate bubble again to try and prevent a deflationary collapse. Economic collapse is coming no matter what they do. The more they try to manipulate to stop mark to market mechanics and extend the bubble, the bigger the crash will be and the more profit will be made from gold and silver. |
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Interesting to drop by very occasionally to see who's around, gone mad, still hodling, etc. I see r0ach has flipped.
The only reason I mess with bitcoin now is to try and profit on swings. I don't see any reason to support bitcoin ideologically since it's completely inferior to gold and silver as money and a store of value, while it's also inevitable that if bitcoin doesn't die, it will be co-opted by the state - turning it into a cashless society slave system. I articulated all of those reasons in this post: https://steemit.com/bitcoin/@r0achtheunsavory/the-r0ach-report-13-why-the-economics-of-bitcoin-don-t-actually-work-what-satoshi-really-meant-when-he-said-the-price-wouldBitcoin is more like a cult based on a bad economic system rather than sound money. Yes, you can make money in the short term, but only because it's designed as a get rich quick scheme to try and force others to buy in higher. But in the long run, it has to actually function as a store of value...and it doesn't. The second the majority of market participants realize this, the bottom will drop out and all that money will head to the base of Exter's pyramid (gold and silver). I prefer silver for higher upside potential. |
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you know it .. the red phallus will be yuge
and how much do you think the average japanese or korean person is going to care about an exchange they've barely heard of? they might nod and then keep on buying. it's slowly sliding into absolute irrelevance. just for future reference https://coinone.co.kr/chart/?site=Coinone&unit_time=1Dthats a 34% drop )) Korea is used to red candles. Their currency devalued by 50% overnight in the '98 asia currency crisis:  The USD will probably have an event like this in the near future where they devalue the dollar vs gold by an astronomical amount overnight. #physicalsilverbitchez |
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By that logic the entire world is a pump and dump
Well yes, the entire crypto market is a pump and dump. As the syscoin dev, I'm sure you're well aware of this. Trying to tell people that they should have every cent in crypto is ridiculous. If the price of bitcoin doubles it's not a very big deal to me unless I would have actually had the foresight to max leverage trade it beforehand. Gains are really only interesting to me when I can leverage them, but there's not even a good leverage exchange for trading BTC now, which is one of my main annoyances of the bitcoin market. |
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noone said to be all in but you clearly have sold your btc position at $700 around when your stance changed along with your position because you certainly have been shilling against bitcoin and for metals exclusively ever since. 1% of your wealth should be in bitcoin at this point. The same or less in gold/silver imo because they are higher risk and lower reward. They are both better than fiat but bitcoin is at the top of the pyramid for the foreseeable future.
You have been standing and watching from the sideline, watching the "big one" as I have explained to you prior to it taking off. If you had caught the ride (if you had not misjudged the characteristics of cryptocurrency) then you would have been able to stack a bigger position in your precious metals ten fold. That is certainly a very very big potential loss you have just incurred at which point you should probably go back to the drawing board on the core of what you believe in and have assumed. Perhaps reading the articles I have posted may help.
This is 100% false. I was "shilling against bitcoin" when the price was $200-$400 even while being all-in on bitcoin at the same time. I'm sure anonymint remembers. The fact is, if you could play god and make either silver/gold or bitcoin the world reserve currency and be allowed to invest in either beforehand, there would be zero reason for anyone to choose bitcoin. The world would be far better off with more freedom and stability using metals like silver. Bitcoin either inevitably centralizes into monopoly or a govt controlled slave system...or goes to zero. The only reason to choose bitcoin is if you plan to be on the right side of a pump and dump. I don't regret spending some bitcoin to buy enough metals to cause a large gain for me when the price goes up for the same reason I have zero regret not holding dogecoin when the price of dogecoin doubled a few days ago. There is always some worthless asset pump and dumping every single day that you will "miss the boat" on. |
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after you sold at $700 and bought gold what was your ROI? since 2010 those that invested in gold have negative ROI while with bitcoin its like 700k% that alone tells you the market is right and you are wrong for all the reasons I have already stated above with you. The chances of it going to zero are now very low compared to say last year... with every passing year it becomes more self-evident that it will grow further, if bitcoin is used at settlement then something else used as transaction processor in the end the ecosystem should flourish to a point where fiat is only used to pay taxes until they give in and thus their debasement via printing stops automatically. I've been buying silver and gold all the way from a bitcoin price of $750 to $1800. Stop trying to pretend like everyone should be all-in on bitcoin and 0 other assets when that's the dumbest possible idea imaginable. And the odds of it going to zero are not any lower now than before since Bitcoin seems to be required to become the reserve currency, or at the very least the unit of account for something to not go to zero. When I say "unit of account", I don't consider Anonymint's claim that bitcoin is the unit of account of pump and dump gambling to be a valid example. Bitcoin's actual niche seems to be the unit of account of regulatory arbitrage, but if that's it's only use, it would obviously be made illegal everywhere eventually, or co-opted into the ground with chain anchor and all where it's the same thing as fiat. |
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The funny part is all exchanges are in a down wedge, while the guy on GDAX who has been trying to manipulate the price upwards forever is trying to rig the market to paint the tape in a sideways channel. Lol GDAX manipulator: Everywhere else  GDAX  I've ALWAYS hated that GDAX guy because it means there is zero purpose in using GDAX if you're trying to buy cheap on dumps. He just paints the tape to try and rig the market with his shallow 0.001btc bid wall support spam with no actual liquidity. Not that I would actually be looking to buy right now in the first place at the top of a parabolic rise. |
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That looks like bitcoinity.org to me. The volume bars default to bitcoin (mBTC in fact) on bitcoinity.org and it appears that you haven't changed it. Here is the same BitStamp chart after changing volume to USD.
You're right. Not sure why the default volume listed would be denominated in bitcoin when bitcoin is a derivative of the US dollar so the only thing useful for traders is the USD volume. Anyways, on USD volume Bitfinex is down from halving while bitstamp is up. When I say it's a derivative of the US dollar, if the amount of dollars in circulation goes down (deflationary event), then the price of bitcoin goes down...while in inflation it goes up. You could claim the Chinese printing money endlessly would also cause it to go up, but in the end it mostly comes back to whatever is the unit of account for international trade. I guess if you wanted to nit pick, you could say bitcoin is a derivative of the aggregate of all fiats... |
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$600 price spread (so far) in a single day, or 22% drop. Nice pump and dump guys.
lol, look who's back? the second we get a little dump you dare to speak out again.  I'm not fond of rising prices on constantly decreasing USD volume on both Bitstamp and Finex. That's the textbook definition of a roach motel: Finex:  Bitstamp:  "Smart money" is definitely not buying in such a situation. All the large players who actually want bitcoin already own bitcoin, hence why there is no volume. Now it's just a giant CNBC Jim Cramer mad money scheme of trying to find some random guy in the public to dump on at more than you paid. |
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The Asians will wake up this morning now
Average Poloniex conversation: "Just wait till antarctica wakes up" "Do you mean the people on the surface or the ones inside the hollow earth?" "Both I think" |
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$600 price spread (so far) in a single day, or 22% drop. Nice pump and dump guys.
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Welcome to bitcoin Barry Silbert's personal pump and dump playground
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