I tried to keep your hat as muted as possible in keeping with your grey-scale avatar and your no nonsense personality. Even though your avatar is named after itself, I had a lot of trouble finding it in a larger size. Today I had an epiphany and realized it was Ji-Tu Cumbuka from A Man Called Sloane. I knew I had seen him but it took a while to figure out where.... damn I'm getting old.
Five years now waiting for someone, anyone, to correctly nail the obscure reference to my avatar image. His character name on the show was "Torque". Mega merit for you! And thanks for the hat!  Edit: I've uploaded the new avatar, but still no change. Guess I'll have to wait... |
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[...] they are working so hard to become just another Cryptsy 2.0 scammer platform. They see the next true Dotcom era wave coming and want to suck in as much business as possible. Makes sense. If thousands of shitcoins are treated as equally special, then none of them are. Nothing but a bunch of penny stock trash. Bitcoin is the only crypto that matters. Everything else is irrelevant. |
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https://www.cnbc.com/2018/10/30/cryptocurrency-start-up-coinbase-valued-at-8-billion-despite-bitcoins-plunge.htmlI've lost all and total respect for Coinbase. Series E funding for another $300M, and still not profitable. But especially because of this fucking quote: "We see hundreds of cryptocurrencies that could be added to our platform today and we will lay the groundwork to support thousands in the future," Hirji said.
Hundreds? Thousands? Really?? Unfucking believable, they are working so hard to become just another Cryptsy 2.0 scammer platform.  They could give two shits about Bitcoin, since apparently *ALL* cryptocurrencies existing now and new ones in the future are created equal in their minds. This attitude is a thousand light years from what Brian Armstrong said when he orginally founded the company.
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OT: All this talk in the MSM of the U.S. stock market "correcting", "plunging", or "crashing". 'Cause muh Tariffs and the Fed raising rates, blah blah blah. Yeah right. People just don't get it. So easy for them to shake the tree in a market that has a valuation that has been easily manipulated and fabricated for over a decade now. That's all it is, the tree being shaken and Wall Street taking up new positions to get ready for a whole new bull run. Nothing more. |
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A lot of people think sideways action means that the Bitcoin market is dead and nothing is happening.
Au contraire, major accumulation is happening otc as we speak. They can keep this going with a wash traded market for a long time, at least another year or so.
The market won't move until they are ready to move it.
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You're wasting your breath V8. The fact that these shitcoin lovers want to chide Bitcoin for somehow having an unfair launch and subsequent distribution, when the majority of every shitcoin since has been at least 1000+ times worse (massive premining, insiders and devs getting massive first distributions off the books, etc.), is the height of hypocrisy. I mean just look at Litecoin (one I consider a somewhat fair launch), with what...7-8+ million LTC sitting in the hands of like 1-2 chinese exchanges? And that's not even the worst shitcoin distro, not even close. |
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If you can't see that direct correlation, then I can't help you man.
Be careful when challenging a person’s belief system  I could envision a day in the future where in Bitcoin we have could true inverse correlation. But I don't think we're there yet. We may never have a true 100% inverse. In fact I don't believe things like the PMs markets are a true hedge against the stock market anymore. They've been pumped with so much leverage and derivative now that most often they move in sync with the stock market these days. I'm sure that's by design - centralized control. It's all about technicals and "narratives" anymore, rather than fundamentals. |
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I don't see any connection either way. Certainly when bitcoin was $2, it was just geeks mining and a few people taking punt. Big money didn't get involved until 2013 at the earliest, since then technical has been far more important than fundamentals.
Well, in 2013 the U.S. stock market went on a massive bull run/rally, peaked in Dec 2013, then went sharply bear in Jan 2014. So did the Bitcoin market. Then in 2017 the U.S. stock market went on a massive bull run/rally, peaked in Dec 2017, then went sharply bear in Jan 2018. So did the Bitcoin market. If you can't see that direct correlation, then I can't help you man. It's all about long money vs. short money, and smart money vs. dumb. I would agree with you on technicals though, as the Bitcoin fundamentals haven't changed since 2012 so they don't really matter. I don't really consider SW and LN as a huge change to the fundamentals, as the utility and SoV function has been there all along. |
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This won't last guys.
Bitcoin has shown more synchronicity with the U.S. stock market than a hedge against it. And I'm pretty sure the U.S. stock market will begin a new bull run next year.
Why do you think the Fed wants to hike interest rates 4 times next year? Because it already knows the plan and the pattern (2-3 yr bull, 1-1.5 yr bear which we're in now). So the Fed already knows things will start to turn around to bullish again next year, and it will seek to hike into strength. That's why insiders like Jim Cramer know the bull will return next year and are pissed the Fed will want to hike into it. The banks and the financial corps will lobby for the Fed to delay or go slower.
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Are we all reading and paying attention yet?  "Along these lines, I can't wait to review details about @Fidelity @DigitalAssets. A long-only #buyside firm [w/ 13000 institutional investor clients]...starting a #crypto platform is likely to build one that is a lot safer for Mom&Pop investors than one built by a taxpayer-backed or Fed-backed firm, plus @DigitalAssets has been mining for yrs so understands honeypot risk better than most #WallSt firms (which haven't...
...see 1211. Keyword search "fork" and "collateral" and draw your own conclusions. This goes much farther than @Bakkt, which says its customers must post 100% real #bitcoin upfront. None of the new platforms has committed that it won't engage in coin lending, which is yet...
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Bitfinex and their USDT should be shaking in their boots with Fidelity, Bakkt etc coming on board. The tiddlywinks days of shady exchanges and monopoly money are coming to and end.
Yes but... wouldn't be surprised if in 5-6 years people are cryin' about how Bakkt has become "shady as fuck" too. Wall Street invented shady. |
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“We saw that there were certain things institutions needed that only a firm like Fidelity could provide,” Jessop told CNBC, adding that it already works with 13,000 institutional clients. “We’ve got some technology that we’ve repurposed from other parts of Fidelity — we can leverage all of the resources of a big organization."   |
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So basically a whale or company that did not want to take the risk is pulling their money out of BFX the only way they can...through BTC.
Now that same risk adverse whale or company will want to convert back to their precious safe fiat currency on another exchange. Sure they lose money but have less risk. Which also drives the price down on that other exchange.
But... bbut... if what they are saying is true, "certain user groups" (whales?) are desperately trying to get more fiat in, presumably to buy more Bitcoin. Not trying to take more fiat out. They said fiat withdrawals are working fine. Does someone know something? Bullish. |
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My personal experience, while anecdotal, is contradictory. I'm the GM of a construction company. We've had a very hard time finding workers for the last several years. We've had to significantly boost our rates of pay and benefits to workers. Also, we've had so much work, that we've been having to turn projects away every year. All of our subcontractors, competitors, etc. who I've talked to are in the same boat.
Would have to agree. In a tech related industry rather than construction but it has gotten to the point where our staff are getting poached faster than we can train them. Historically we have always trained our own but have now started poaching trained people from elsewhere for the first time. But you guys are looking at the wrong demographic. The major group that left the workforce after 2009 and never came back were between the ages of 50-65. And that is a HUGE number of the population. These were high salary positions (e.g., VPs, upper middle managers, engineers, directors, etc.) and people who contributed greatly to the vast consumerism going on pre-2008. And they didn't voluntarily leave the workforce. They were pushed out (ie., laid off, encouraged early retirement, etc.) Ageism is what is not letting them back into the workforce at the same pay rate they had been enjoying before. Most have decided to downscale their lifestyle drastically, pay off debts, and rely on their savings, investments, spouse, and/or SS to continue living. Some part time work. Others have had to take drastic salary cuts just to work full time again. Especially in IT/Tech, look around. How many people employed in that field do you see over the age of 45? 40? Or even 35? Not many. Definitely no one 50-65 yrs old. |
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the world will remain to be filled with complete idiots I'm convinced that Roubini is an insider shill for the banksters. Anything to distract away people away from Bitcoin. |
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So, a "Plunge Protection Team" doesn't mean what you think it means?
Yes it means exactly what it sounds like. But we don't have that anymore. We now have a "Correction Protection Team (CPT)". Or maybe it should be called the "Correction Buy-The-Fucking-Dip Team (CBTFDT)"? And a dip of 6-7% percent in the stock market is not, and never will be, a "Plunge". Nor is it a "Global Bloodbath". |
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Looks like the first leg down of the ol' Bart Simpson pattern.  |
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