Hi All.
I see BTC shaping up for a bad, or really bad week.
Looking forward to the buy zone @ ~2k
Haha yea right. Bring it. Pretty sure takes more than $2000 to mine one bitcoin. Unless you’re a philanthropist you’re not gonna sell it for such a price. Well I'm quite sure BTC crashed -94% TWICE before, please explain in detail why this (or similar) wouldn't happen again For higher, we need to go lower. (much lower) your first post?! |
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Use your fucking overpriced fountain pens to draw some charts.
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The good lord came knocking with a bag of riches months ago. I told him it wasn't enough so he left.  I might be in the same boat. I'll either retire early with lambos filled with hookers and blow, or I'll die as a Walmart greeter (having already died inside long before). |
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I haven't been moderating much. I spent the last two weeks in Miami and the Florida Keys.
Whatever passed for moderation before will now recommence.
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Fuck, if I had to imagine what a central banker of central bankers would look like it is this guy personified. It can't be real. Even Fake X looks more real He looks like this guy.  Our little Augustus Gloop is all grown up! |
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...
Yet the price of Tether haven't really crashed. BUT... what has crashed is all the crypto market which I think could be related. What if it was Tether/Bitfinex that had USDT somewhat backed.... NOT by USD but by a mix of USD, BTC and many other crypto?
If that were the case they would have been forced to liquidate those crypto assets to maintain the USDT peg stable. And, having to back more than 2 billion dollars overnight requires a lot of dumping, which causes panic and many other people dump too. Also as the price of the crypto assets go lower, more (coin units) dumping is required to extract the same value.... and there you have your doom circle.
Is that what has happened? Maybe, or at least it has been one in many factors behind the "crash".
Good post. What if I told you that actually a Bitfinex employee (bfx_drew) (accidentally?) blurted out exactly this a few weeks ago?  Most of us know that it is highly unlikely that institutional investors have wired 2.2 billion $ and 85 M € to a sketchy entity like Tether. However, it is entirely possible that Tethers are actually backed by cryptocurrencies. E.g. exchanges like Binance make a ton of income in trading fees, but they collect it in various altcoins and not in fiat and they surely would prefer to hold it in a stable coin like USDT instead of random altcoins. That this could be a problem in the event of falling prices is obvious as @bitserve correctly pointed out in his post. That would also make some sense as to the timing of the Friedman LLP audit being terminated. |
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Volume to support this rally is anemic. It looks like we'll be heading down again. I suspect we'll be testing $6,000 again soon.
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I think MasterLuc has lost his edge recently, and I don't believe we'll languish for a year at 10K.
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Forget about “anemic” volume. What about anemic order books. Gdax, bitstamp less then 100mil. Kraken might as well be 0. And every single one of 2.3 billion tethers still outstanding. Shit one more solid dump and tether will be a top 10 coin.
Tether will go to the moon! |
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The latest from MasterLuc: I'm 90% sure that a giant triangle is drawn on the weekends. First, there are often triangles in a quadruple. Secondly, triangles are certainly after such a swing.
I think that this 2 month wave from 19800 to 5500 is the first wave A of the future triangle.
How long will the correction take? Well, if wave A lasted almost 2 months, then count. For about a year we will dance around ten. |
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Volume is "anemic," yet when I check the volume on GDAX, Finex, & Bitstamp, Feb 5th has had the highest volume since Dec 21st. GTFO noob. Perhaps we will retest 6000, soon, but you calling this volume, "anemic" is really "exagerated." Why not post this shit with your normal account rather than an alt account? FUCK OFF! I hope you have a big short and get totally REKT. Like being relegated to homelessness REKT. Then I hope you die of exposure.  Why don't you tell him how you really feel? |
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What a crash
What a crash.....
Damn R I P
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The big news going around the internet recently has been the release of SEC Chairman Clayton's upcoming testimony to the Senate. Here's a good summary:  This is of course bullish news, but markets are not rational, so it might not make a difference in the short term. |
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But the last year BTC chart looks almost exactly like the doom/gloom bubble chart below we are all familiar with... (click on 1 year BTC link below and compare)
Much as I'm utterly bored of that chart, the parallels are there. Looks like we're shortly to enter despair. It's pretty mind boggling how repetitive these moves are, or perhaps it isn't. It's human psychology that shapes these things and that doesn't change. Real despair overshoots the mean. So that puts us at what, about $3,000? |
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I was obviously a bit too optimistic when refreshing the poll a few days ago. In other news, it sounds like even Masterluc doesn't know WTF the bottom will be: I really do not know where to fall further. There's a wild support. Weekly MA20, daytime MA200, Fibonacci retracement of 61.8% of all annual growth, historical trend lines ... In general, all this should bounce off. When drains allow ...
Here to you and nashdachnye traders. The reverse side of the ETF is yours. Let them do it .... I expected a general decrease in volatility when all this was beginning to be predicted. And it is - that's what it is Mihalych. |
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Everyone needs to relax. Business as usual.
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Let me clarify my position. I'm not saying the bcash gang is innocent. I tried to state my point while being vague and without being direct which is a communication error on my side. I believe the bcash gang AT LEAST shares the responsibility for the spam on Bitcoin and the pumps on BCASH. EDIT: I see Torque beat me to it. I think his reply is worthy of consideration. But don't listen to me too much - I'm afraid he's winning me to the tinfoil club, one roll at a time.  I can buy into this. This theory would remove some of the responsibility from the bcash gang and place it on heavier hands. I mean... if we are going "tin foil hat" we might as well go full tin foil hat. I think that the BCash gang was actually just a group of useful idiot patsies in all of this. I'm not 100% sure they were spamming the network (it could have been the work of Whales/Insiders that they were working with (eg.,were paying them), or they just knew), but they believed at the time that they were benefiting from it. Now, not so much. I mean if you think about it, other than their reputations the BCash gang has little to lose and everything to gain. If BCash fails, they'll just let it slowly die and go back to mining Bitcoin 100%. The hardware is the same, so no loss there. This is why I believe Wu is the real leader. Wu has risked nothing. Ver is the one putting up most of the money. Craig and Ver both are trying to cash in on their names and feed their narcissistic personality disorders. Ver could end up broke. Craig could end up with a bruised ego. Wu comes out a winner no matter what happens. |
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Well said... the globalists know Europeans like freedom and hate authroity more than most, so they are #1 on the extermination / submission list of world domination and mass enslavement.
Yet they've embraced authority with open arms. |
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