Is it me or the price is drawing a nice W?
Please stick to the 11th Commandment: Thou shall not jinx. |
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Q to WO crowd: do you think that bitcoin does (or doesn't) have some futures fighting mitigation strategy?
Yes. You need to understand the distinction between absolute scarcity and relative scarcity. https://sfugeog322.wordpress.com/2012/01/19/absolute-and-relative-scarcity/None of the other commodities which are controlled by the futures market have absolute scarcity. Gold can easily be mined, pigs can be bred, marginal cropping land can grow more corn. Many of us, including many on this wall, are now dedicated to slowly, gently buying physical all the way down, no matter how deep it goes or for how long. Holders of last resort will create conditions of absolute scarcity. The reality is that the poor performance of gold and silver markets is a reflection of poor organic demand for precious metals, combined with elastic supply. People like Roach blow this up into a global conspiracy so that they can avoid taking responsibility for their own poor investment decisions. There is undoubtedly short term manipulation in almost all markets, but whales can only push the price in directions that the price already wants to go. For the record I do not think that the current downward price pressure on Bitcoin is a manipulation. I think it is a perfectly natural and organic reaction to a blow off top. +1 WO sMerit. |
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There is a theme being propagated on interwebs that bitcoin will never be able to get from under negative price pressure from CME/CBOE futures (which are cash-settled). Apparently, it happened multiple times before with other commodities.
Q to WO crowd: do you think that bitcoin does (or doesn't) have some futures fighting mitigation strategy?
Personally, i don't fully buy that doom-and-gloom scenario because other cryptos did not have futures, yet declined even more, hence not a clear cut picture.
Would btc-settled futures like bakkt and/or 'physical' ETF objectively helpful in this fight or not?
Of course, if some some major fiat currency would experience hyperinflation, then btc would benefit, but this scenario is not very conducive to day-to-day life.
I would prefer to think about how we can use intrinsic bitcoin properties to fight CME/CBOE pushing us down (in price).
It'd be very clear cut if Bitcoin really got tanked due to futures (which I don't buy into, since they're basically like those Turkish betting parlors all over Europe). But let's assume that was the case, then altcoins would inevitably follow suit because the majority of their volume is denominated in BTC and thus directly following Bitcoin's price. Furthermore, if there's any indicator that Bitcoin will be tanking it would be fairly easy to short alts for fiat and then rebuy alts at a cheaper per BTC rate with cheaper Bitcoins (obviously comes with elevated risks). Basically, Bitcoin down = make double the money by shorting shitcoins. So the connection between futures tanking Bitcoin and altcoins tanking even more is crystal clear once you crunch the numbers. Again though, I don't buy that futures had anything to do with anything. They were just there at the "right" time to appear to be relevant. You don't rally from 1k to 19k without a massive correction. |
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Higher highs, lower lows today. Going very slowly though.
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What are you saying, his hair is yuge. Can assure you there is no problem whatsoever with his hair. |
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I am almost worried about the price.
I had made so much money, but didn't sell... And I refuse to sell now in this price.
That's an important lesson. Always take small profits... I wouybe feeling better now
Pretty sure that feeling won't stop unless you take perfect top/bottom every time or have an ironclad plan that you are satisfied with. |
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What's the rationale behind the Bitcorn halving by the way? Why not some sort of continuous curve that converges to zero?
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Hahaha, so funny to see Bcash crap going downhill so fast. It's not even in the top 10 of volume anymore. Behind TRON even. LOL Those dumb dumbs played Russian roulette with all the cylinders loaded.
The biggest losers are Bitmain who are to go bankrupt by the start of the Chinese new year and Roger ver the owner of bitcoin.com Pretty sure both Roger and Jihan have enough stashed away for a good life (they're smart enough to at least conceive of some elaborate scams, so it'd take some serious ego problems if they burnt their retirement funds of petty games). But yeah, if they aren't the market makers they'll be royally fucked soon. Craig included. |
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They collected >10 millions $ and nobody will punish them? On etherscan I saw > 30 big CL Holders...
1 Mercatox Mercatox CL/BTC $1,955 $0.002196 87.40% Still people buying this SCAM project !! Why does nobody ever do home work before they buy ?? [/quote] Because they'd rather gamble and then complain about rich people getting richer instead of stepping back and realizing that they've only got themselves to blame. |
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They probably do. Once you get into "the game" you don't quit unless you played roulette and got burnt so hard that you can't get back even if you wanted to.
Like the guy who lost BTC7000 on Just-Dice back in the day? There were a few times where I got on Bitcoin casinos just to watch the game results of others. Watching people lose hundreds of thousands in seconds is more fun than actually playing yourself. |
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Actually..... I don't care anymore. I'm gaining more and more stash. We'll see what it does. if it goes to zero and dies, it was a hell of a experience. Everything is paid for, no losses and no gains. If it doesn't... Wellllll, then i'm working on my early retirement right now, and save the major bulk for the homes of my children to give them a great headstart compared to the rest of the masses, and start a easy life with less stress. Best gift you can give your kids.  Just nitpicking here, but don't spoil them too hard. Lots of rich dumbasses walking this world who never learned the joys of overcoming challenges. Can adapt challenges to fit one's lifestyle and net worth, but just throwing around handouts generally doesn't help. Otherwise solid post. |
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@bitserve Other data, which I think is important for your WO purchase evaluation: "It seems to me that everyone here has "Bitcoin, s" I have enough to have 2, for this reason I am accumulating. If I had more quantity maybe the approach would be another.  Yeah, I get that. If I had 100+ BTC probably I would not be that much obsessed with accumulation or at least not until I had rebalanced (take some profit) it with the rest of my net worth. On the other hand, it is also possible that people with 100+ BTC say the same about 200, 500, 1000.... Hodlers gonna hodl I guess. I wonder if the people with tens of thousands of BTC also feel like they need to accumulate more. Maybe they do too. They probably do. Once you get into "the game" you don't quit unless you played roulette and got burnt so hard that you can't get back even if you wanted to. |
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OT: Just found the tiniest inverted Bart on the hourly.
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Nice, thanks. Imaginary sMerit for you. |
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lemme get this 'straight'
I take off my hat. Bob follows suit.
I put on a hat. Bob copies.
Bob, are you flirting with me?
No man. Just, no. We need (ahem) hat solidarity in these difficult, trying times. Rick watches this thread. He's a jealous bitch, yo. I'm in real trouble when he gets home tonight.  The real flippening. From now on Bob will be known as Bitcointalk's white powdered bottom bull grill. |
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I can't see anything in that link? But the title sounds promising. |
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The first time I do some week chart. I found this  4 years to wait.  i'll probably be dead in 4 years If the number in your name refers to your birthday you're still pretty young. If it's something serious then I wish you the best of luck with whatever is going on. |
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IF bitcoin will not die
That's the problem with long bear market, it always feels like bitcoin is dying tulip like and it makes people crap their pants even when the price is at a crazy discount. Maybe a few years ago, but not now. This type of retraction has happened multiple times in BTC, has happened in traditional finance, and stocks are crashing right now as well (some of the big ones as high as >40%). Nothing scary going on here. |
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Yeah, everyone is dismissing this option and only considering the 'new ATH in 2021', because the last cycle was 4 years long.
Just like they all KNEW that there will be a new ATH at the end of 2014, because 'historicaly the cycles repeat every 7-9 months'...
Wasn't April 2013 largely a Gox mirage? They certainly finished it off single handedly. I rarely see it referred to any more. Wasn't Dec 2017 largely just a Finex/Tether mirage? You.... You... Don't say that. I was just trying to point out that there's a manipulation explanation for every single ATH bubble we've had so far... I don't think it's the whole story, but it's certainly a part of if. Don't forget, Nov 2013 was just 'Willy Bot' going crazy My hunch is that "manipulation" exists to the extent that it pushes the technicals that are most likely over the edge. E.g. if the indicators say sell-off or rally due, there's some twats paying off mass media and cooking the books to push us over the edge. I don't see them actually shifting anything in a direction that wouldn't naturally be possible. Craig for example always seems to announce his horseshit when a market move is due anyways, and then tries to take credit for that. Anything other than that could (and thus probably would) lead whales to cuck each other out of their coins and fiat. |
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