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Had a chat to someone involved in the CBOE futures.
He says that SEC not happy with market surveillance on physical markets and thinks they are all bucket shops.
Which we all know is true - fucking Bitmex and Bitfinex and HitBTC. Even Kraken and Coinbase are shit shows.
We won’t get an ETF until we get higher quality Bitcoin exchanges next year (like Baakt and the Toronto Stock Exchange). And those new exchanges are going to take some time to establish a track record of liquidity. Which fits in nicely with the halvening time line. The stars are lining up about a year out.
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No public BJ promises made in the WO thread have ever been honored as far as I know. Bitcorn can go as high as we like, and no mouth muscle will be involved.
We need a trustless global BJ system |
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If BTC hits 6 figures this year, I'll blow everyone in this thread.
Saving this just in case. |
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16 industry experts 9 month down trend An asset that has historical multi year bear cycles Not one bear Heh |
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I bought all of my bitcoin’s in 2014-2015. Haven’t bought any since then but had £40,000 inheritance in an Aunties will recently. Wondering if I should start buying again if this goes significantly under $6,000.
BFD January 2019 crash. This is not financial advice. I have no idea what I am doing. |
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Don’t shave the messenger
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I am not going to be an early adopter guinea pig...
Date Registered: February 17, 2014 Hypocrite ! |
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ETH tanking badly, now 0.0388 BTC.
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Golden cross on 90 day MA  Golden cross on 30 week MA creeping closer  |
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V8 you are supposed to start with “be me”
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Only ~280k BCH have been mined since the end of March. Plus, they have stopped only accepting BCH for their equipment. Also, they now have competitors that are putting out better equipment then they are putting out. I doubt that they have accumulated 1.2 million BCH. They are strapped for cash and it does not appear their IPO is going to go over very well. I really doubt that they are in any position to attempt to buy more BCH. However, BCH has a few more billionaires who probably do have the resources to bolster the price of BCH. I'm afraid antminer's days are numbered unless they can get something going their way ASAP.
Ok your math checks out. So the increase in BCH from Dec 31 to March 31 is ~162,00 for mining. 214,000 - 162,000 leaves 52,000 acquired by other means. Hardware sales of 52,000 x $1500 average price = $78 million in sales in first quarter? I don’t know if that is realistic or not. |
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If you are a miner and never sell the coins mined, of course that restricts supply and pushes the price up. This is the slide from their IPO deck showing they are well on their way to a million BCH in March. At that rate they should have 1.2 million BCH now. Meanwhile the Bitfinex BCH order book is only 5,000 coins deep. This is a BCH overhang that is completely illiquid and cannot be sold. Very different from Bitcoin which is a highly liquid asset. The IPO is basically their attempt at a giant BCH OTC sale, with some dumb retail investors to be left with a bag that cannot be sold.  The interesting analysis is how much of the 2017 Bitcoin spike was miners holding back supply? I would love to see Bitmains books historically and compare to a price chart. More mining competition should cause the cartel to break down and stabilize the Bitcoin price. |
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I never understood this idea that Bitmain was BUYING BCH. I believe they have only been accepting BCH as PAYMENT for their machines for a while now. So, if you are selling a crap ton of machines and receiving BCH for it, then the amount of BCH you OWN is going to go up significantly. YES??
Well, for quite a few months now, they are back to accepting other forms of payments. However, a good chunk of the BCH stash that they had back in March can probably be attributed to mining and proceeds from sales. Also, they likely sold most of their BTC to keep their operations going, which have included several failed attempts to get a new SHA256 chip developed. I doubt they did much buying of BCH off of the markets, like some people accuse them of. The reason that I doubt it is because they can accumulate for much cheaper by selling their equipment for BCH and mining. Bitmain has never sold a single BCH they have mined. This has artificially supported the price of BCH which has close to zero organic demand. They have sold their BTC to pay the electricity bills. |
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