empowering
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Activity: 1078
Merit: 1441
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December 08, 2018, 12:32:39 PM |
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Bored
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becoin
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Activity: 3431
Merit: 1233
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December 08, 2018, 12:38:42 PM |
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Does the seller side has to have the bitcoins when the contract is made?
No. That's the whole idea behind "regulated" bitcoin markets. You don't need to have a single satoshi to sell thousands of bitcoins and suppress price. Bankers think that bitcoin ETFs will solve bitcoin supply "problem". When the contract expires seller has to anyway have to get the coins from somewhere to be able to sell them to the buyer? Nope. Actual delivery of bitcoins is forbidden. Just like in gold futures and ETFs. At the expiry date profit/loss is cleared through the seller's margin deposit which is in dollars. If the seller is systemically important bank and they did the wrong bet Fed will print new dollars and will give them to pay for their loss. The buyer side was there to buy some bitcoins. If he will not have them, what will he have? The dollars? The contract said for example buyer will buy three bitcoins for price 3500$ per one coin which is total 10500$. But the day price is 4500$ per bitcoin which is total 13500$. So the buyer will have 3000$ for bank account? Yes, buyer will have $3000 credited to their margin deposit/bank account. Regulated bitcoin markets are not for trading bitcoins but for bets on the future bitcoin price. Profit/loss resulting from those bets is paid in dollars. So, if you have unlimited access to the dollar printing press you can sell 21 million bitcoins without having a single satoshi.
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empowering
Legendary
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Activity: 1078
Merit: 1441
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December 08, 2018, 12:42:27 PM |
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The future. Cunningly disguised as A thought experiment I'd be running around trying to find out why the crash happened. Did the tptb suicide a buncha 'core devs'? Did it get banned by the G20/Gxx? Did the miners really steal the segwits? The sort of news that affects price in dollars, but doesn't touch Bitcoin itself? Or is it something actually serious? Not gonna elucidate on those possibilities. If it wasn't serious, I'd fill my bags and answer newbie bleatings here and elsewhere. I am sure it will all be fine. I enjoyed peoples answers though - thanks guys
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realr0ach
Sr. Member
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Activity: 924
Merit: 311
#TheGoyimKnow
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December 08, 2018, 12:43:22 PM |
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I have the fear that what we are observing is bitfinex exiting from their fractional-reserve scam, almost unnoticed.
Bitcoin was pumped really fast with really big volumes, and I think that the retail FOMO in 2017 was not a cause, but a consequence of such pump. The pump was sustained by finex's tethers, either if they were real or not.
I think there's a chance this is a well-executed "willy bot" pump and dump, markets are crazy but there are too much people buying and selling in panic without reason for this to be real.
Bitfinex is like the Goldman Sachs of cryptocurrency. Whether it's fractional reserve, trading with customer funds, stealing customer funds, unplugging the exchange on purpose to try and liquidate margin positions, or printing infinite Tethers, I'm leaning more towards all of the above than one specific thing. Just about nothing going on at that exchange has ever made sense. Like the picture I posted earlier from eons ago when the price was around $1000. The market wasn't even strong at $1000 fucking dollars. It was weak as piss, and yet Bitfinex rigged it upwards on 0 volume. To me, it looked like everything from $1k to $20k was probably fake and entirely orchestrated by that exchange:
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becoin
Legendary
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Activity: 3431
Merit: 1233
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December 08, 2018, 12:47:19 PM |
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I have the fear that what we are observing is bitfinex exiting from their fractional-reserve scam, almost unnoticed.
Fed won't be so lucky exiting unnoticed from their own fractional-reserve scam.
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realr0ach
Sr. Member
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Activity: 924
Merit: 311
#TheGoyimKnow
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December 08, 2018, 01:03:07 PM |
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If you like your Jewish moneychanger, you can keep your Jewish moneychanger:
"(((Eric Weinstein))) is a mathematician and economist, and he is also the managing director at Thiel Capital."
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xhomerx10
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Activity: 3892
Merit: 8334
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December 08, 2018, 01:22:30 PM Merited by vapourminer (1) |
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I should have rotated the bottle a bit more - it says "Medicinal Brandy". The missing volume is the angels' share as it has never been opened. I'm not sure how old it is or if it's even quaffable since I found it at my grandmother's place after she died 30 years ago. It might just be medicinal vinegar now but if the price keeps dropping, I'll probably need it
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El duderino_
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Activity: 2562
Merit: 12460
BTC + Crossfit, living life.
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December 08, 2018, 01:29:49 PM |
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This price is shit.
and sucks donky cock
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yefi
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Activity: 2842
Merit: 1511
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December 08, 2018, 01:35:32 PM |
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With that much hate towards females I think he has been rejected all his life. I think I even feel a bit sad for him, but just a bit.
.. and that bit is gone now too.
An excellent topic for the next poll. Roach: lifelong virgin or not?
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empowering
Legendary
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Activity: 1078
Merit: 1441
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December 08, 2018, 01:36:14 PM |
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bitcoinPsycho
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Activity: 2534
Merit: 2214
$120000 in 2024 Confirmed
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December 08, 2018, 01:36:47 PM |
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This price is shit.
and sucks donky cock Its only shit relative to last year . Zoom out dam it
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El duderino_
Legendary
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Activity: 2562
Merit: 12460
BTC + Crossfit, living life.
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December 08, 2018, 01:36:56 PM Merited by vapourminer (1) |
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I should have rotated the bottle a bit more - it says "Medicinal Brandy". The missing volume is the angels' share as it has never been opened. I'm not sure how old it is or if it's even quaffable since I found it at my grandmother's place after she died 30 years ago. It might just be medicinal vinegar now but if the price keeps dropping, I'll probably need it its day time-sober up time here in belgium coffee needed (i'm going soft WO's)
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El duderino_
Legendary
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Activity: 2562
Merit: 12460
BTC + Crossfit, living life.
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December 08, 2018, 01:37:59 PM |
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This price is shit.
and sucks donky cock Its only shit relative to last year . Zoom out dam it much better THX
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El duderino_
Legendary
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Activity: 2562
Merit: 12460
BTC + Crossfit, living life.
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December 08, 2018, 01:39:18 PM |
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LFC is having a small moment of joy i guess, now the FARAO is strikes again
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tmfp
Legendary
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Activity: 1932
Merit: 1737
"Common rogue from Russia with a bare ass."
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December 08, 2018, 01:42:25 PM |
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Does the seller side has to have the bitcoins when the contract is made?
No. That's the whole idea behind "regulated" bitcoin markets. You don't need to have a single satoshi to sell thousands of bitcoins and suppress price. Bankers think that bitcoin ETFs will solve bitcoin supply "problem". When the contract expires seller has to anyway have to get the coins from somewhere to be able to sell them to the buyer? Nope. Actual delivery of bitcoins is forbidden. Just like in gold futures and ETFs. At the expiry date profit/loss is cleared through the seller's margin deposit which is in dollars. If the seller is systemically important bank and they did the wrong bet Fed will print new dollars and will give them to pay for their loss. The buyer side was there to buy some bitcoins. If he will not have them, what will he have? The dollars? The contract said for example buyer will buy three bitcoins for price 3500$ per one coin which is total 10500$. But the day price is 4500$ per bitcoin which is total 13500$. So the buyer will have 3000$ for bank account? Yes, buyer will have $3000 credited to their margin deposit/bank account. Regulated bitcoin markets are not for trading bitcoins but for bets on the future bitcoin price. Profit/loss resulting from those bets is paid in dollars. So, if you have unlimited access to the dollar printing press you can sell 21 million bitcoins without having a single satoshi. Futures markets were originally designed for "hedging" commodity prices, so that producers could plan and lock in a profit and buyers budget for their material costs while the actual "real" goods were on a boat somewhere. I wouldn't be surprised if Bitcoin miners have been hedging their production by shorting futures since the bear market started (and derivative crypto trading became easier) and then simultaneously closing the shorts and selling the "physical" bitcoins as they mine them. As Bitcoin isn't a consumable commodity in that original sense, there aren't the counterparty hedge purchases being done, only speculative buying (or not).
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Elwar
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Activity: 3598
Merit: 2386
Viva Ut Vivas
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December 08, 2018, 01:44:47 PM |
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When nobody can compile the wallet... I'm not saying it can't be done. I'm sure if you study the protocol updates and implement the changes yourself you could run a node. Or there is likely a way to compile what is on the github page if you can get your environment the exact same way that Craig Wright has his set up so you can compile it. So...definitely possible.
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El duderino_
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Activity: 2562
Merit: 12460
BTC + Crossfit, living life.
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December 08, 2018, 02:03:06 PM Last edit: December 13, 2018, 11:54:40 AM by micgoossens |
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goldkingcoiner
Legendary
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Activity: 2100
Merit: 1832
Verified Bitcoin Hodler
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Here we go again. I feel so gay with wine and chocolate. Its great.
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gembitz
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December 08, 2018, 02:30:38 PM |
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hat update and increasing = first creation collectors item= still in protest !!!!!!!!!! =magic altcoin hat =LFC's pride on monday =in need of a PROPERLY hat = nice for fun..... wanted by h ueristic (its a f***ing cool one) !! = I GUESS no XhomerX workzzz ? = in a foreseeable future reserved for Kylapoiss, merit issue's still in progress ? vapurminer,LFC,raja_mbz,karatma,sirazimuth,searing,poolminor,BTCMILLIONAIRE,savetherainforest,cAPSLOCK,mindrust,torque,crypmike,h ueristic,lightfoot etc........ pfffffffff still long way to go (and keep coming up with colour combo's) catching them all weeeee
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Spaceman_Spiff_Original
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December 08, 2018, 02:33:19 PM |
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With that much hate towards females I think he has been rejected all his life. I think I even feel a bit sad for him, but just a bit.
.. and that bit is gone now too.
An excellent topic for the next poll. Roach: lifelong virgin or not? You might have to clarify though: does receiving a Golden Shower from a prostitute count?
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