hv_
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Clean Code and Scale
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September 28, 2020, 11:56:30 AM |
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Bitcoin: Once in a species opportunity.  Observing $10873. shilling for ponzi that s it
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LFC_Bitcoin
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September 28, 2020, 12:12:38 PM |
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Grayscale have apparently bought another 17,000BTC in the last 7 days. The bull run is coming, boys.
The circulating supply is drying up, the price will reflect this in the next 18 months.
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strawbs
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September 28, 2020, 01:17:46 PM Merited by JayJuanGee (1) |
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Bitcoin price is at an ATH right now. This feels like a much better way of looking at things https://pomp.substack.com/p/bitcoin-is-at-an-all-time-highBitcoin’s price has never fallen below the 200-week moving average. It rises significantly above the average in the bull markets and has historically bounced off the 200-week moving average in bear markets. Additionally, according to the 200-week moving average of Bitcoin, the asset is currently sitting at an all-time high in price. 
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600watt
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September 28, 2020, 01:37:58 PM Merited by JayJuanGee (1) |
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Grayscale have apparently bought another 17,000BTC in the last 7 days. The bull run is coming, boys.
The circulating supply is drying up, the price will reflect this in the next 18 months.
with all this buying, I really wonder who tf is selling all those bitcoin 45% under ATH price which was fkn almost 3 years ago. selling the best performing asset in the history of finance when it is on its way out of multiyear lows, one must be truly nuts. why tf did truly nuts folks buy it in the first place? just for trading? billions worth of coins only sold by traders? OG whales not patient enough to wait a few more months? miners? miners that need to cover cost? but them mining only 900 btc a day, so... unlikely. scared retail? I don't think. why getting scared now, the time to get scared and panic sell was in March. tinfoil hat therory: some entity (yeah- deep pocket banks or alike) bought a shitton of btc to dump it on every little sign of bull during this next potential run-up. because they know the next run-up is the last run-up.  well ok, not very likely. but who is selling?
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philipma1957
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'The right to privacy matters'
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September 28, 2020, 01:46:40 PM Last edit: September 28, 2020, 04:00:46 PM by philipma1957 Merited by JayJuanGee (1) |
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Grayscale have apparently bought another 17,000BTC in the last 7 days. The bull run is coming, boys.
The circulating supply is drying up, the price will reflect this in the next 18 months.
with all this buying, I really wonder who tf is selling all those bitcoin 45% under ATH price which was fkn almost 3 years ago. selling the best performing asset in the history of finance when it is on its way out of multiyear lows, one must be truly nuts. why tf did truly nuts folks buy it in the first place? just for trading? billions worth of coins only sold by traders? OG whales not patient enough to wait a few more months? miners? miners that need to cover cost? but them mining only 900 btc a day, so... unlikely. scared retail? I don't think. why getting scared now, the time to get scared and panic sell was in March. tinfoil hat therory: some entity (yeah- deep pocket banks or alike) bought a shitton of btc to dump it on every little sign of bull during this next potential run-up. because they know the next run-up is the last run-up.  well ok, not very likely. but who is selling? while mining ⛏ btc direct creates 900 new coins mining at places like nicehash creates a need for more btc. nicehash buys btc daily to pay eth miners. give me five minutes i can tell you nicehash’s need for btc for payment to eth miners. eth at nicehash is 9.5th at about 4 btc a th or 38 btc of old coins i can do each and every coin at nice hash and you can see the demand scrypt is 12 th which is about 1.3 btc a day x11,x13,keccak,nist5 total under .5 btc neoscrypt,quark,qubit. total under .1 btc kapow is about 1.5 btc all the cuck coins need around 1.5 btc so nicehash needs around 50-60 btc a day to pay off miners like me.
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JimboToronto
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You're never too old to think young.
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September 28, 2020, 02:04:47 PM Last edit: September 28, 2020, 02:20:05 PM by JimboToronto |
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Good morning Bitcoinland. Up a wee bit... currently $10895USD/$14583CAD (Bitcoinaverage) but still basically sideways. September will soon be over and hopefully the autumn rally will be starting before long. Go Bitcoin go. The wealthy cabal depends on internet services companies Apple, Google, Amazon, Microsoft, PayPal, eBay, all the cloud-based services companies, etc. Stock markets depend in the internet. Governments and militaries around the world depend on the internet up and running 24/7/365.
You forgot to mention the entire mainstream banking system. Edit: ...and media propaganda system.
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AlcoHoDL
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September 28, 2020, 02:14:59 PM Merited by JayJuanGee (1) |
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Grayscale have apparently bought another 17,000BTC in the last 7 days. The bull run is coming, boys.
The circulating supply is drying up, the price will reflect this in the next 18 months.
with all this buying, I really wonder who tf is selling all those bitcoin 45% under ATH price which was fkn almost 3 years ago. selling the best performing asset in the history of finance when it is on its way out of multiyear lows, one must be truly nuts. why tf did truly nuts folks buy it in the first place? just for trading? billions worth of coins only sold by traders? OG whales not patient enough to wait a few more months? miners? miners that need to cover cost? but them mining only 900 btc a day, so... unlikely. scared retail? I don't think. why getting scared now, the time to get scared and panic sell was in March. tinfoil hat therory: some entity (yeah- deep pocket banks or alike) bought a shitton of btc to dump it on every little sign of bull during this next potential run-up. because they know the next run-up is the last run-up.  well ok, not very likely. but who is selling? mindrust sold 10 BTC on March. 17000 BTC / 10 BTC = 1700 full mindrust events. I think it's quite possible for 1700 weak hands to exist, and be ready to sell because they read the latest Peter Schiff tweet, no? Of course, said BTC really comes from a combination of sources, but I wouldn't rule out lots of small (single/low-double digits), weak fishlings which, when taken together, can amount to 1000s of BTC. Let them sell. Selling also means that someone's buying, so all is good, it's just corn being shifted from the dumb to the smart.
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HI-TEC99
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Grayscale have apparently bought another 17,000BTC in the last 7 days. The bull run is coming, boys.
The circulating supply is drying up, the price will reflect this in the next 18 months.
with all this buying, I really wonder who tf is selling all those bitcoin 45% under ATH price which was fkn almost 3 years ago. selling the best performing asset in the history of finance when it is on its way out of multiyear lows, one must be truly nuts. why tf did truly nuts folks buy it in the first place? just for trading? billions worth of coins only sold by traders? OG whales not patient enough to wait a few more months? miners? miners that need to cover cost? but them mining only 900 btc a day, so... unlikely. scared retail? I don't think. why getting scared now, the time to get scared and panic sell was in March. tinfoil hat therory: some entity (yeah- deep pocket banks or alike) bought a shitton of btc to dump it on every little sign of bull during this next potential run-up. because they know the next run-up is the last run-up.  well ok, not very likely. but who is selling? mindrust sold 10 BTC on March. 17000 BTC / 10 BTC = 1700 full mindrust events. I think it's quite possible for 1700 weak hands to exist, and be ready to sell because they read the latest Peter Schiff tweet, no? Of course, said BTC really comes from a combination of sources, but I wouldn't rule out lots of small (single/low-double digits), weak fishlings which, when taken together, can amount to 1000s of BTC. Let them sell. Selling also means that someone's buying, so all is good, it's just corn being shifted from the dumb to the smart. 
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soullyG
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September 28, 2020, 02:25:55 PM |
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Don't forget all the 5 minute candle traders, and people trying to scrape profits from range trading
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Last of the V8s
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Be a bank
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September 28, 2020, 02:31:26 PM |
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No wonder the exchanges' reserves have come down so much this year. Just a couple of million more and we get our supply shortage event.
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cAPSLOCK
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September 28, 2020, 02:40:05 PM Merited by vapourminer (1) |
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My 2c about Saylor's buy of $425 mil in btc.
Contrary to everybody's enthusiasm, I found it troublesome.
1. The smart way of buying would be buying calls, then be aggressive, not making 20K tiny tx. If you have calls, then you don't care much if market moves or not as a result of your buying.
2. How he was able to find $425mil sellers without moving a market? It's not like all other buyers and sellers disappear.
Something does not compute. To me this is an indication that market has some re-hypothecated btc and large portion of the volume is such "imaginary" btc. It does not matter that he was able to withdraw. It simply means that they re-hypothecated even more and injected those back to exchanges.
I suspect the exchanges of the world have 10 to 20% of the coins they claim to have. I imagine most volume is based on reserves they dont actually have. This would be the source of what would be a somewhat novel experience in the world for finance. To the extent institutions (can we call Bitcoin exchanges that yet?) are playing games with fractional reserves they are risking a unique sort of disaster. Even a "run on the banks" could be solved by the Fed. In fact the whole repo thing we have been seeing is exactly that. But Bitcoin is uniquely limited, and the most extreme of bearer assets that we've ever created. The closest thing we have to it is Gold. But Gold requires this:  Bitcoin does not. Trace Meyer tried, back in the day to establish that yearly "run on the exchanges" with the whole "proof of keys" gimmick. But that never really took hold. The question is simple though... I propose the idea that we are in a unique situation with bitcoin, and a shift is coming due. Currently the main use case for Bitcoin is speculation. We have to admit it... it is still really mostly the magical internet money casino. But we might just be on the cusp of a paradigm shift. What happens when the dominant use case for Bitcoin changes from "casino" to "value store"? As that shift happens I cannot imagine the above situation will remain tenable. We are sitting on some sort of powder keg. What I am not 100% certain about is if it is the sort of powder keg that blows us to the moon, or the sort that just kills us all. 
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cAPSLOCK
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September 28, 2020, 02:41:27 PM |
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No wonder the exchanges' reserves have come down so much this year. Just a couple of million more and we get our supply shortage event.
You said in one sentence what it took me a JJG sort of novella to try to say above. 
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Wekkel
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yes
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September 28, 2020, 03:01:26 PM |
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That's why you don't tell your wife about your crypto adventures. Ever. She'll nag about selling your bag way waaay too early forever 
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Torque
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September 28, 2020, 03:18:01 PM |
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You forgot the last image with the caption "7 years later... I'm divorcing you and taking half of your bitcoin!"
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Torque
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September 28, 2020, 03:23:01 PM |
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The wealthy cabal depends on internet services companies Apple, Google, Amazon, Microsoft, PayPal, eBay, all the cloud-based services companies, etc. Stock markets depend in the internet. Governments and militaries around the world depend on the internet up and running 24/7/365.
You forgot to mention the entire mainstream banking system. Edit: ...and media propaganda system. Oh I definitely forgot about that last one. Can you imagine if the MSM no longer had the internet to spread propaganda, lies, and fake news? To get the people all riled up? Hell they would blow a fkn gasket...
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LFC_Bitcoin
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September 28, 2020, 03:23:21 PM |
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You forgot the last image with the caption "7 years later... I'm divorcing you and taking half of your bitcoin!"
Sorry love, I lost everything in a boating accident.....
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cAPSLOCK
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September 28, 2020, 03:24:03 PM |
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Happy Sunday, folks. Fifty Thousand projected. This time next year, yo.
I hope you are right. But I also hope you are off by an order of magnitude.
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JimboToronto
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You're never too old to think young.
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You forgot the last image with the caption "7 years later... I'm divorcing you and taking half of your crypto!" Let her take the crypto. Just don't tell her about the Bitcoin.
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bitebits
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September 28, 2020, 03:31:41 PM Last edit: September 29, 2020, 04:44:44 AM by bitebits |
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Grayscale have apparently bought another 17,000BTC in the last 7 days. The bull run is coming, boys.
The circulating supply is drying up, the price will reflect this in the next 18 months.
with all this buying, I really wonder who tf is selling all those bitcoin 45% under ATH price which was fkn almost 3 years ago. selling the best performing asset in the history of finance when it is on its way out of multiyear lows, one must be truly nuts. why tf did truly nuts folks buy it in the first place? just for trading? billions worth of coins only sold by traders? OG whales not patient enough to wait a few more months? miners? miners that need to cover cost? but them mining only 900 btc a day, so... unlikely. scared retail? I don't think. why getting scared now, the time to get scared and panic sell was in March. tinfoil hat therory: some entity (yeah- deep pocket banks or alike) bought a shitton of btc to dump it on every little sign of bull during this next potential run-up. because they know the next run-up is the last run-up.  well ok, not very likely. but who is selling? Gamblers, sometimes referred to as ‘traders’ or as Jimbo would say: daytarders. And miners of course, which imho are gamblers on steroids. Michael Saylor in one of his interviews was openly wondering where all these bitcoins were coming from when buying the 38,250 bitcoins in just eight days on exchanges, all dumped into his bids. They will run out one day.
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Toxic2040
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September 28, 2020, 03:34:13 PM |
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the morning wall report #dyor 1h  4h  #stronghands
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