I had a chat with an old relative of mine today. Bitcoin entered the conversation. He said, oh that, that's a ponzi scheme. I said no it's not. He then explained to me what a ponzi scheme is and I said yes I know it LOOKS like one because of the massive amount made by people involved from the beginning, but is the internet a ponzi scheme? No? Well what if you bought sex.com in 1992 for a hundred bucks? Then he said you can't buy plane tickets with it, so I said yes you can www.expedia.com then we stopped talking about it and it was time to get some food, and he said you can't buy food with bitcoin, and I said yes you can! (I was talking about buying pizza funnily enough), then he said you can't buy a flat with it etc...... It's nice that bitcoin has developed to the stage where there's constant examples of its acceptance, functionality and superiority to fiat. To d4 m00n! Ask him if he knows what a laggard is. |
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Bitfinex has reduced their margin leverage from 2.5X to 1.5X, effective July 21st. Officially, this is because the btc used as margin deposit is also volatile.
This doesn't affect open positions though. I will be getting all I can before the switch. |
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And to think that you could have went to most of the games with your bitcoin profits.... oh wait
You mean, if I had bought in late November, when I first heard of it?  I'm ready for another summer rally to 3k. Who's in? I'm looking for a rally to 5k and if it happens, I'm preparing Magret de Canard for the forum.  Shotgun!  I'm also thinking that the top of the next rally will be higher than 3k. There are just so many charts with previous rallies superimposed over the current price movements and also long term trend lines that point to a higher top. I know results from the past are no guarantee for the future but I think (and hope of course) the second half of this year will be pretty awesome  I think whatever drives the bubble will tell how high we go. The ETF and hedge fund could easily bring us over 10K. If we bubble before that (speculative bubble) we will peak closer to 5K. |
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germany  "Football is a game played by 22 players and in the end Germany wins"  Sorry -- why are you mentioning soccer? Was there a soccer championship somewhere recently? And what is Germany? And to think that you could have went to most of the games with your bitcoin profits.... oh wait |
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Look at the dumptards go!
Can you blame them? More and more people are starting to realize that next bubble simply isn't coming. I too hate to see these dumps but at some point people are gonna sell. And every day it becomes more clear that there won't be any rockets or trains. So you are going to become a weak hand all of a sudden? That's exactly what the dumping is for, create negative sentiment in weak minds. If they don't have the patience to hodl and wait for the train, they don't deserve the moon. Did i say anywhere i'm selling? Nope. I was asking if you were starting to think like the people you were talking about. |
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Look at the dumptards go!
Can you blame them? More and more people are starting to realize that next bubble simply isn't coming. I too hate to see these dumps but at some point people are gonna sell. And every day it becomes more clear that there won't be any rockets or trains. So you are going to become a weak hand all of a sudden? That's exactly what the dumping is for, create negative sentiment in weak minds. If they don't have the patience to hodl and wait for the train, they don't deserve the moon. |
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Look at the dumptards go!
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There must be a sell bot I'm unaware of.
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So now we will have a Trust, an ETF, and now a hedge fund. This is happening awfully quick. Better get all the coins you want while you can.
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I wonder how the guy that sold a good bit yesterday feels now that we are $25 higher and still moving.
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The manipulator's walls aren't creating panic, and he isn't pushing the price down to buy, because there is very little buying going on. If they are profit taking, why not remove those ask walls, let the price rise then dump for better profit? So I'm going to go out on a limb and say its an idiot kid who mined 10s of thousands of btc on his gaming computer in 2011, is bored since school is out for the summer, and he is the only one laughing as he keeps the bubble from commencing. I say this because no smart person would still be putting up sell walls for no benefit.
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How dare you push past 630 without the manipulators permission!!
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Is nobody else convinced to buy? Maybe once we break 654.
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So sad about Klee's lost  Do we now if the theft has dumped klee's 1170btc already? Could you link to the topic? Most info is on that thread. They seem to think the 1170btc have been sold already. I guess they timed up the confirmations needed at stamp with the dump from earlier today. Although the coins might still be at the address, doesn't mean they weren't sold, just that bitstamp hasn't swept that address yet. |
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There are more people wanting bitcoin that will never buy on an exchange than people already invested in bitcoin. People like my father and all his friends that are over 60, I'm talking old money millionaires. The ETF will allow them to get into bitcoin as an investment without having to use an exchange. The ETF will see such a demand that the Winklevii will probably buy 10X more coins than they own over the next 5 years alone. Imagine all the other ETFs that will want to compete with COIN that haven't even bought their initial investment of bitcoins yet.
DEFINITELY A GAME CHANGER COMING SOON.
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So where do the coins come from that finance the original IPO shares? Are they selling their own coins as part of the IPO?
They are using their own coins for the IPO. I thought this ETF was kind of like a cold storage for people who don't want to do it themselves. Buyers of shares could also buy and sell shares as they please, taking the "fear of using exchanges" out of the picture. At any time they can ask for the bitcoins in trade for their shares, I am guessing with some additional costs. Then the Winklevii would buy more coins and resell the shares, keeping the amount of coins and shares in the fund the same as people redeem shares for coins. Also, at anytime, the Winklevii can buy more coins and sell the shares to those coins as demand increases, while keeping the ratio of coins to shares the same. |
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Were his funds not in cold storage? No. He even said his security wasn't all that great. Passwords in a plain text file that was in a dropbox, which the password to that dropbox was not changed after heartbleed. |
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Anyone in this thread know when the Winklevii can legally announce the launch date of their ETF? I heard they cannot discuss the launch date yet, so will there be a heads up or does it just go live one day?
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How far in advance are they legally allowed to announce the launch date?
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I just noticed the 1W MACD, after the last few bubbles, it would finally turn green then went back red for a week or two then once it broke green the second time the next bubble started. We have only gone green the first time since the last bubble. That may be holding back some TA strict whales. That doesn't necessarily mean it has to happen, as now I think the market participation is so big people will try to jump the gun and may keep the MACD from turning back red. All it would take is one whale to dump and make it red, but who would take the risk?
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