Markets selling off due to bogus data saying $1b of BTC flowing into Gemini.
It's the 2nd time it's happened in the last 30 days.
Chart: leverage positions getting liquidated as traders sell off. Red dots showing the timing of the fake inflows. (28k and 18k BTC respectively) https://twitter.com/woonomic/status/1371418824499630081 |
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So a year of weekly India bans Bitcoin to look forward to then. |
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Some very aggressive dumping going on here
Just in time for all those stimulus checks to be sent to exchanges. |
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-multisnips-Biodom, it's not the first time you use the word 'bearish' to define JJG's ladder system. Why would you characterize it so?
I just do not want to criticize too much, to each their own. you would be able to borrow against btc stack, which M. Saylor keeps bringing up, but not many on WO are listening. Such loans are typically used by high net worth individuals (HNWI) against VTI, VOO, SPY, and other whole or broad market ETFs. Thank you. You got me thinking, especially about the loan thingy. I'd be glad to know more about that. Any pointers will be welcome. Fidelity: https://www.investopedia.com/fidelity-will-accept-bitcoin-collateral-for-cash-loans-5091879Basic rate is high, 4.5%, but i am sure this will go down. I would be shocked if Coinbase would not do the same soon after the IPO. Personally, i would never go above 20% LTV, maybe just 10% (in case of our typical 80% drawdown). The advantage-NO cap gains tax. In fact, maybe deductible interest (or not, hard to say) Borrowing Against securities (better rates right now): https://www.schwab.com/pledged-asset-lineLibor is 0.11%, so the best rate is 1.86%. Say, you've got, hypothetically, $10 mil of VOO. You borrow $ 3mil. Your interest (to pay) is 3000000X0.0186=$55800 yearly However, $10mil in VOO generates $152000 yearly in dividends. End result-you borrowed $3 mil to do whatever, it effectively cost you nothing (well, a decreased divvy). Yes, you would have to pay the principal at some point, but you can use divvy remainder to do that plus VOO goes up roughly 10% a year, so the loan basically pays for itself (if stock market performs). That's why rich can have a cake and eat it too, lol More: https://www.wellsfargoadvisors.com/why-wells-fargo/products-services/lending/securities-based.htmYes, best rates are for those with lots of assets. Ret accounts are NOT eligible, though. Mind you, I have done nothing of the sorts so far, but I am studying the question (after Saylor's remarks). This is exactly the kind of stuff I'm currently thinking through. Selling is the last thing I want to do now (still considering offloading a couple for a home though, wife would like the security, I might cave). Imagine this scenario for a moment, you get a loan of 4.5% on some of your BTC, you take that cash buy BTC on spot and sell some 6 monthly futures contracts on those BTC for an annualised gain of >20%. That's 15% profit right there, to be used as cashflow, without selling any BTC. Honestly, why bother selling any BTC (except maybe home or emergency) while we now have the ability to to do this kind of stuff. Also, can you post the link for the Saylor vid? |
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Is there anything better than waking up in the morning, going to the toilet to take a good shit, switch on the smartphone and watch that green candle grow to break an old ATH in real time?!  .... At my age I'm grateful to simply shit without difficulty in the morning. Nevermind also playing with my fondle slab in the process. Speaking of taking a shit....Who came up with that "taking a shit" term anyway? It seems to have quite the opposite meaning. To be clear... When one visits the lavatory to do one's business, one does not "take" a shit(or piss) .... rather, one deposits (or sprays) #one. (or #2 as the case maybe) Even the UK term "having" a shit still doesn't quite cut it either. Technically speaking "having" a shit means you did indeed "take" a shit at some point in the past. Indeed... I've had a few, which is why I digress.... GO BITCOIN Whatever it is, just make sure you wash your hands. |
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I miss Tera. I learned a lot from her / him.
I do as well.  This was on hacker news several days ago. Some real interesting comments, most think it is not him. https://news.ycombinator.com/item?id=26231674There's also this on hacker news when Len died. https://news.ycombinator.com/item?id=2723959One quote from the second link is interesting though I thought
I met Len in 1999, he was a kid. A cocky kid who thought he knew everything and I wasn't impressed. I think we were arguing about K of N keysplitting. Rodney Thayer said "Yeah, he's like we were at that age." Rodney was gracious and patient, accepting and loving towards Len and I felt obliged to follow his lead. This is a highly improbable description of Rodney, but it was the truth. I became friends with Len and we were coconspirator cypherpunks at a time when that was a wild frontier. We were reimagining our world, riddled with cryptosystems that would mathematically enforce the freedoms that we treasured. Anonymous remailers to preserve speech without fear of retribution; onion routers to ensure nobody could censor the internet; digital cash to enable a radically free economy. We have schemes to decentralize & distribute everything. We imagine complex and esoteric threats to problems we might someday have - we architect futuristic protocols to insulate against those threats. All this is a highly academic geek utopia exercise. I tend to keep it that way, but Len wanted to get his hands dirty. There were times when Len got visits from various Federal agencies over remailer abuse. At first Len would get scared and I'd get him out of the house which he assumed was bugged, and drive around for a while. Especially in those early years, Len was trying to impress us. We invited him to join The Shmoo Group, where I'm a fringe radical, and Len became the lunatic fringe. I'm sure we helped temper his apocalyptic tendencies and at times he even bordered on diplomatic. But it isn't in our nature to acknowledge prowess directly. You only know a hacker respects you if he's willing to waste his time shooting holes in your ideas. I have thousands of messages to and from Len spanning the last decade, and I doubt a single one of them offers any direct praise.
Len got his hands dirty. He committed himself to building the stuff we imagined. I play it safe and remain blameless, but I get to stay balanced because courageous guys like Len fulfill the extremes.
Len, you are, in fact, an inspiration to those of us who inspired you. You made something great of your life. You left a lot behind for us. Thanks for letting me be a part of it all.
Cypherpunks write code. |
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And again under 50k ... Why I am not suprised ...
If this is f2pool dumping coins like you think, these dumps, that are getting no traction from elsewhere yet, will just be depleting their coins at a fast rate. I am personally enjoying it. Especially knowing that within a few weeks we will be at all time highs again. |
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Good Morning WOvians ... So we had a huge dump from our friend the fuck2pool again this night to get the price down under 50k ... luckly we closed yesterday over 50k. We had a nice breakout to the upper side of the bull-flag ... and it seems to be goingupwarts until a bigger dump cam up. My suggestion is again a couple of thousands corns were dumped from fuck2pool ...
Where do you get the data for f2pool? Also, don't be too worried, the market will eat up all their coins. In addition, I think they are a chinese pool right? this means if they say they have a million coins they actually have no more than 100k. The chinese are so full of shit, they big note themselves at every moment. It's for 'face' everything is about face for these tossers. CryptosRus makes several videos about this. They aree the only once how has and bitcoin outflow since december. And maybe it'S because they have mining farms in regions, where they forbidd mining in the future. Nobody knows, why they doing it, but they doing it. Nevertheless the number of coins they are moving ... Add several thousend to the market and the price is suffering. The same, add fiat money to the market and the price will go up. Cryptoquant is one source. You can see the daily outflow for free. The hourly outflow you have to pay for it. https://cryptoquant.com/overview/full/227?window=dayTo be clear. We can trade millions of coins between us, there is not much price movement. You have to put in fresh (fiat) money, than the price goes up or you put "fresh" coins to the market and the price is going down. In the long run they will loose and their coins will be eaten up. But they can cause movement around some key points and invalid outbreak on patterns for example or put us under a psychological barrier ... So don'T underestmated the force of 8400 addtional coins on the market... Yesterday, for example. You are right, if we have a massive buyer market, then they coins will be eaten up very fast! Thanks for the link. Yeah, long term is the way. I'm not going to deny that the short term movements from these sort of things don't suck, but long term its upward with f2pool sliding into irrelevancy. |
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Good Morning WOvians ... So we had a huge dump from our friend the fuck2pool again this night to get the price down under 50k ... luckly we closed yesterday over 50k. We had a nice breakout to the upper side of the bull-flag ... and it seems to be goingupwarts until a bigger dump cam up. My suggestion is again a couple of thousands corns were dumped from fuck2pool ...
Where do you get the data for f2pool? Also, don't be too worried, the market will eat up all their coins. In addition, I think they are a chinese pool right? this means if they say they have a million coins they actually have no more than 100k. The chinese are so full of shit, they big note themselves at every moment. It's for 'face' everything is about face for these tossers. |
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My calculations show that the correction from 58 400 to 43 000 is 26.3%. This doesn't even qualify for a significant 30%+ correction! And the claim that this is the end of the bull cycle is too premature and quite bearish. The support down to 40K looks pretty solid compared to the sell pressure, if we look at the depth charts of the main exchanges (even Bitstamp). So most probably we are going sideways for some time before resuming the bull run. My bullish expectations are 150-168K at the end of June and 333K-400K at the end of the year. The worst I can imagine for this year is half of the latter prices, i.e. 84K in June and 168K at the end of the year. However, we are on the track for the first scenario, and these 2 little corrections only improve the chances for that. #provenbymathandscience
I hope you are wrong dude, I pray to god that bitcoin goes back to 10 thousand and can buy more. You had your chance for years, it's still not too late to get on board at these prices. In fact, it's never too late to get on board. Bitcoin is here to protect you from government corruption, and to prevent your labor being devalued by the elites. Even at 1 million Bitcoin is still a good buy. |
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bitcoinity keeps freezing on my computer, yours too?
stuck on mine too, just use bitcoinwisdom |
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I wonder why weekends are mostly bearish these days?
This would pass as well.
institutional
money does not know a thing,
who is surprised here?
Early "Sunday" #haiku.
Fresh fiat doesn't arrive on the weekends, so it's the only chance bears have when Bitcoin is in a bull market. Plus lower liquidity of course. |
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Having said that, I just don't see us going below $40k. Too much institutional money to prop up the price at that level.
Daaayum bro... i thought we all agreed on $45k... didn't we? 40k is a 30% correction. This level of correction would match what we saw in 2017 several times. All very normal. |
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I hope not honestly, I don't want it going parabolic again. If it does though I would prefer it to be closer to the end of the year. Yeah, we would NOT want bitcoin prices going parabolic expectedly unexpectedly in the near-term future. That would sure suck!!!!! It's not like I had not (I am sure that others, too) been stacking sats for the past over 7 years (sure time periods are going to have varied, but anyone in bitcoin for over a few years would have had time to stack some sats decently, no? - even you somac spomac - been on the forum as long as me), and I would hate for our lillie fiends to go up in value too quickly.  Don't get me wrong its fun when it does go parabolic, but those moves always lead to crashes. And crashes burn noobs hard as they are inexperienced. You can wish all that you want that such a parabolic rise does not happen, but does not seem like there is a lot that you or anyone else can do about it. I could care less either way, too, but bitcoin just seems poised for such craziness whether we like it or not and whether we get some corrections along the way that make the overall upward curve to appear more gradual because the top takes longer to play out. A nice consistent rise will be better off for the common worker (i'm pretending that they would actually buy BTC here, rather than wasting their savings on useless crap),
First of all bitcoin does not work like dat. Sure, it might not go parabolic, but it is NOT likely to get stuck here, either in order to make some kind of smooth and reasonable curve. Regarding regular peeps: Fuck them. They better get the fuck into bitcoin in some kind of stake, otherwise they are going to get front run the fuck out of by the BIG ass players that seem to be continuing to come into the space. Just like we cannot do anything about BTC's price movement, we also cannot do shit to protect regular peeps from their lil selfies in which many of them fail and refuse to actually take some actions in terms of stacking some sats or otherwise figuring out ways to get a meaningful stake in bitcoin. I want these people to be able to grow their worth at a steady rate as a fuck you to the CBs and various modern feudal lords who have been destroying the value of their labor as much as possible since time began.
Get out of here with your bleeding heart nonsense. They can still get into bitcoin at $500k or $1million and they might even still be ahead of others at that point. I have no clue beyond the various price models based on probabilities what BTC prices are going to do in the coming years, but even though it seems to be much better for regular peeps to start right now or start as soon as possible, they can still start whenever they get around to it.. whether that is at $75k, or $256k or $750k, or $1.5 million or $5million... You have no information that the happening of regular peeps to get into bitcoin much later is still not going to end up helping them out, overall - even though sure, many of us longer term HODLers realize some advantages to having had gotten into bitcoin earlier than others, but I am still going to be telling people the same fucking thing as I have been saying for the last 7 years or so, and that is get the fuck started as soon as possible and figure out your plan to get some kind of stake.. and the BTC price does not matter as much as getting the fuck started and figuring out something... we cannot hold their hands if they fail/refuse to get started accumulating bitcoin. My dream is of the wealth divide returning to the levels of the 50s.
Bitcoin helps a lot of these matters, but you cannot remove all of the hoarding behaviors of BIGGER players and have a kum-ba-ya distribution of bitcoin. Peeps have had nearly 12 years to learn about bitcoin and get into it, and sure there are some signs in recent times that they are going to get front run, but what we going to do? Not going to happen I know but that is why it is a dream.
Snap out of it, somac spomac!!!!!! Let's deal with reality rather than wishing for things that are very unlikely to happen, and we already know that bitcoin has hype cycles and peeps gotta attempt to learn about it and how to deal with such BTC price dynamics rather than wishing for some kind of situation that is not. You really are a miserable sod. |
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I hope not honestly, I don't want it going parabolic again. If it does though I would prefer it to be closer to the end of the year. Yeah, we would NOT want bitcoin prices going parabolic expectedly unexpectedly in the near-term future. That would sure suck!!!!! It's not like I had not (I am sure that others, too) been stacking sats for the past over 7 years (sure time periods are going to have varied, but anyone in bitcoin for over a few years would have had time to stack some sats decently, no? - even you somac spomac - been on the forum as long as me), and I would hate for our lillie fiends to go up in value too quickly. Don't get me wrong its fun when it does go parabolic, but those moves always lead to crashes. And crashes burn noobs hard as they are inexperienced. A nice consistent rise will be better off for the common worker (i'm pretending that they would actually buy BTC here, rather than wasting their savings on useless crap), I want these people to be able to grow their worth at a steady rate as a fuck you to the CBs and various modern feudal lords who have been destroying the value of their labor as much as possible since time began. My dream is of the wealth divide returning to the levels of the 50s. Not going to happen I know but that is why it is a dream. |
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$45k.. We reached the bottom guys... Time to fill up bags!!!
I hope so, but I think that it is a little early to make that call. The US session, will give us some better direction. The next 24 hours are critical  The first 24 years are always critical, where half way through criticalness and where doing OK imho halfway in time sure, only about 1-3% in that 24 years total price though |
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$45k.. We reached the bottom guys... Time to fill up bags!!!
I hope so, but I think that it is a little early to make that call. The US session, will give us some better direction. The next 24 hours are critical |
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I hope not honestly, I don't want it going parabolic again. If it does though I would prefer it to be closer to the end of the year. |
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And the thing just opened like a week ago right? If we think coins on exchange are low right now wait until this ETF has been around for a couple of months. |
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