1949 caviar boomer card..... gotsa go

I am sure many of you may have seen this already.  But for those of you who have not,  you may enjoy.

https://youtu.be/dD2-T7TX2rk

Whats up gents?

long time no hablas

................. when you get that feeling

If this is true....

Then its the single best thing I have ever read on this forum..

My apologies, lack of sleep tbh I somehow missed the obvious joke...

Yes, recovery timing is hard to call, many factors, though 1st we need to find bottom....my feeling is people are actualy too comfortable at this level.. and so more pain.. but once we find bottom,  and then if the market has any symmetry.... 2020 it could be.

I have wondered though.. if we have reached exhaustion or are nearing exhaustion from retail... Or if there is another batch of quivering fearful hands to cull with one last viscous move, one that makes people rue the day they ever decided to crypto all over the place... followed by a long recovery period which lasts until either a catalyst sparks the market, or we get too close to the halving.


Anyways... 1st things 1st we need bottom.

(ass.gif)



 

Meh... I am interested in bigger moves than $10..

We have almost arrived back at the 200 weekly MA, which I fully expected us to retest after a short bounce...

Got the death cross 50 though the 100 on the cards..

BBs have opened up already on larger time frames (though narrowing on the daily)  but we are well constricted on the 1 hour..

We have formed a bear flag, at the bottom of the support zone of an overall descending triangle.

So.. IMO. either we bounce somewhere between here and the 200 week MA, perhaps with a little overshoot...  and then in that scenario I see us likely to put another lower high and then coming back down for a third test ....  or.....  

So far it looks same as it did , a month ago,  I have the same outlook and same support levels based on previous r/s and volume profiles. so far nothing surprising has happened, in fact BTC has been quite the well behaved and relatively predictable (excluding those glorious wicks.. hunters hunting)   but now with more confirmations.....it still looks bearish to me at this present moment.... pretty interested to see how we react  between here / 200 week MA though and if it holds/ if we bounce from there.  

Volume is still not impressive, and below even the volume levels at the local low.. yes it was up yesterday, but still low.

Doom outlook un-changed for now.

I am pretty happy about it.

Nearly time for some action

How is it going batfans?

Speechless

Well, I have a few thoughts, if you are talking about an exchange that is going to cater for a few small fry retail traders here and there, a few honest folk with legitimate privacy concerns, and then the other main fringe groups i.e a few drug dealers and black sites, the odd tax evader, money launderer, or any other anonymous trader whose sole purpose of using a DEX is to evade KYC, AML, and proceeds of crime and terrorism laws, then yeah sure fully decentralised exchanges can operate and function perfectly well and I fully anticipate there to be these exchanges continuing to pop up and provide exactly that service into that market and that's all good and well ..... or not.

However, I mentioned in my OP that I was talking about an exchange that could do HUGE numbers AND integrate with the existing financial system AND the new one, I didn't say to bypass the larger financial system (DEX) I said to FULLY INTEGRATE and do HUGE numbers...  for a DEX to do so then it would need to implement KYC and AML and all the rest of it from a compliance point of view... otherwise it is destined to become a cryptocurrency to cryptocurrency only exchange, without ever any hope of gaining access to a fiat on and off ramp, therefore making it outside of the system, and a blockbox with limited potential for growth ... (not saying thats a bad thing, and not saying there wont be pretty big dexs in the future)

Ultimately, a DEX can still be shut down or the creators or devs be held accountable, so until a true open source distributed autonomous set up is made, and put out into the wild,  with the ability to update its code and replicate itself and continually respawn on a new address or live on a dark sites or on clients only, then a dex isnt really a dex.

 At the end of the day, its the  centralised and undistributed  custody that's our problem right? so that's the sticky bit that needs to be solved, so solve that bit, utilise a blockchain and have a decentralised custody solution that handles deposits and withdrawals and have that linked to a centralised exchange with a super fast matching and trade engine that then clears the trades and communicates with a decentralised custody solution.  The custody aspect could even in fact be shared by other exchanges too.

 This way we get the benefit of the DEX that we WANT and NEED, and then the rest of it which in fact a blockchain would make more clunky and slower and less efficient,  we already have perfectly good technology to deal wth all other technical aspects of an exchange, and why would we want all of that crap immortalised in a bloated blockchain, for the sake of it?

However we also get the added bonus of integrating with the real world, banks, and financial institutions and businesses and funds and market makers and liquidity providers etc etc.... which is where the HUGE money aspect of it comes in that I was talking about , and integrating with RL business now, not at some airy fairy wouldn't it be nice time in the future.  

Fact is it will be difficult for any entity that cares about or has a responsibility to regulators, or clients or shareholders to be able to interact in any meaningful way with a pure 100% DEX even if such a thing were to exist. Unless the DEX is fully compliant, and then you have lost the use case for DEXs , and actually you can build a better exchange that is not fully decentralised.

(TL/DR)  Therefore in conclusion dexs have a smaller potential (at this moment in time) to integrate and tap into the HUGE money flows that are incoming to the cryptocurrency space... and without the ability to remain anonymous they lose their edge, in terms of tech, the best solution is decentralise the parts of an exchange that need it (custody aspects) and the rest of it be centralised as this is faster, easier, more secure, easier to integrate with the rest of the world, have fiat on/off ramps, etc etc etc - because regulations

I am afraid that participation levels are not enough to actually get the job done that "proof of keys day" was designed to do.. (YET?)

Kinda tricky for exchanges running lending and margin trading too.

For it to truly work near on everyone needs to be on-board...

Really for it to work, exchanges need to fully participate, perhaps even force(?) encourage(?) customers to withdraw..
It would cut the chaff that is for sure.


That being said so far I heard that at one point or another in past 24 hours there have been questions surrounding Hitbtc suspending withdrawals, Kucoin had at one point suspended withdrawals, and Bitfinex has this glitch...(which despite the general sentiment around Finex, I tend to think is probably just a glitch, those guys have been under a fair bit of scrutiny of late (but who knows you never can tell) .................  anyone heard of any other potential incidents?

TBH there are some other exchnages that I would like to see stats from, for example CoineBene, Zb, and including Binance, Okex and Bithumb etc..

If anything it seems that proof of keys could be very effective, if not somewhat clunky and awkward, perhaps a even better way would simply to be to utilise the blockchain and have fully transparency of custody the entire time, you have control of your keys,  right up until the moment you press "sell"  in a decentralised custody solution, but with trades matched and cleared by a centralised trade engine..

It seems to me that fully decentralised exchanges, could have a tough time regulatory wise, though I guess compliance could be built in to dex too, but I think that for an exchange to be huge, and do serious volumes and integrate with the current ecosystem and the new evolving ecosystem, that it could be beneficial to have certain elements of an exchange centralised, from both a technical (speed) and a regulatory and management/security point of view..... and certain aspect of the exchange decentralised/distributed, for example custody// withdrawals and deposit functions

Then if the custody solution is either very transparent, or you maintain your keys until you enter a trade, then yearly proof of keys would not be needed... and indeed we can keep an even closer eye on the status of our assets..

This would greatly reduce the worry of an exchange  rehypothecating our tokens,  or of any fractional reserve practice or a straight up exit scam with everyone's denero


Nice and safu, more practical, technically feasible.


 

  

You have got a bit of dirt on your white knight outfit

"Thanks Satoshi we owe you one"

HAPPY 10th BIRTHDAY BITCOIN

Bitmex are putting an advert on the front page of the Times newspaper tomorrow for 10 year BTC birthday

https://twitter.com/bitmexresearch?lang=en



(awhhhh thats nice/ Mex needs new blood)

You have not traded BTC since it was $700?

I don't find the girl robot in ex machine irresistible,I thought she it was a kookie nut job that needed her its legs chopping off, she it was an irritating arrogant dumb weirdo with no personality that was only out for herself. itself ...(sounds a bit like one of my ex's now that I say it out loud)

 Now some of those freakbitches in Westworld are a bit more on point, but come on, lets face it they are just flesh lights with legs and coded personalities.

 I am not a fan of public transport.... and I definitely clean my hands after using it, cannot see me thinking "meh this
creepily lifelike robot has been jizzed in 50,000 times this past year hmmmmmmm sexy, let me get some of that"

No thanks, I would rather get wanked off by an old tramp with a heartbeat and stinky breath.

Even I am somewhat put out by my post.

Gross

  

ps I have a prescription

Unplug for a while, months if needs be, ignore the static and the noise, if anything big happens you will hear about it.

Disconnect the devices, reconnect with people, get laid, get out to the beach and the woods and have a dance, recharge.

All this shit will still be here, the same, or better or worse if you are looking at it or not even after a year off, set some alarms for your trades, avoid the news, and media..  its toxic as all hell atm, not saying it will be any better after a break... but you will be

Maybe a tsunami will come and wipe it allllll away

^^
Holy fuck dude...

WTF?

I have a morbid fascination with it obviously... but Paragon now at $1.12 and at $74 million ""marketcap""


Like the Hindenburg