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Old 9th February 2021, 14:37     #481
DrTiTus
HENCE WHY FOREVER ALONE
 
I hope he keeps his Excel spreadsheet updated.
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Old 9th February 2021, 14:42     #482
Ajax
Architeuthis
 
Probably too busy shilling Doge.
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Old 9th February 2021, 15:03     #483
Nich
 
Quote:
Originally Posted by Ajax
The whole *financial* ecosystem is in a massive inflationary bubble fueled by funny money.
FTFY
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Old 9th February 2021, 15:27     #484
Ajax
Architeuthis
 
Not really the same. Financial markets are subject to things like regulation, oversight and transparency requirements.
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Old 9th February 2021, 15:31     #485
blynk
 
He is probably just loving the power he has.
A tweet here, and comment there and the market goes crazy.

Imagine that.
Buy a whole lot of a coin. Make a tweet. Sell the coin.

I wonder if that would count as insider trading.
Tell all your friends you are going to make a tweet.
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Old 9th February 2021, 15:38     #486
Nich
 
All of which have been dysfunctional for at least the past decade (Thanks QE + Cantillon Effect + Stock Buybacks). I'm glad the SEC exists, but they are far from being effective.
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Old 9th February 2021, 15:40     #487
Lightspeed
 
Quote:
Not really the same. Financial markets are subject to things like regulation, oversight and transparency requirements.
Ostensibly... but in practice?
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Old 9th February 2021, 15:44     #488
Nich
 
Quote:
Originally Posted by blynk
He is probably just loving the power he has.
A tweet here, and comment there and the market goes crazy.

Imagine that.
Buy a whole lot of a coin. Make a tweet. Sell the coin.

I wonder if that would count as insider trading.
Tell all your friends you are going to make a tweet.
Kinda like people in government knowing they are about to force everyone into remote working, and selling shares in brick+mortar businesses / buying shares in Zoom + Citrix.
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Old 9th February 2021, 15:49     #489
Ajax
Architeuthis
 
There are many other regulators like the CFTC, FDIC, FinCen, FINRA, OCC, state-level bodies, etc etc. In crypto there's absolutely nothing, and that's why cyber criminals are manipulating the market and printing money at will. Any company with exposure to this activity is foolish.
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Old 9th February 2021, 15:51     #490
Ajax
Architeuthis
 
Quote:
Originally Posted by Lightspeed
Ostensibly... but in practice?
In practice, yes these functions happen. Not optimally, but better than nothing.
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Old 9th February 2021, 15:59     #491
Lightspeed
 
If that function is to keep money in the right hands (i.e. not people who earn money through work), sure, I guess.
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Old 9th February 2021, 16:16     #492
Ajax
Architeuthis
 
Probably better discussed in a macro thread.
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Old 9th February 2021, 17:31     #493
Know me.
 
The first page I read about Tesla and Bitcoin references the SEC fine he faced when he tweeted about the stock price. He also had to step down as chairman of Tesla.
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Old 9th February 2021, 17:47     #494
Ajax
Architeuthis
 
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Old 9th February 2021, 19:24     #495
Ab
A mariachi ogre snorkel
 
And since there's no cap on the number of dogecoins that can be mined, the value of Doge will increase to INFINITY.
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Old 9th February 2021, 21:48     #496
crocos
 
Quote:
Originally Posted by Ab
to INFINITY.
Buzz Lightyear just entered chat
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Old 12th February 2021, 09:33     #497
Nich
 
Lindsay Lohan dip is over. Bull market resumes
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Old 12th February 2021, 14:04     #498
Ab
A mariachi ogre snorkel
 
Jeez it’s looking like one of those days.
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Old 12th February 2021, 14:14     #499
Nich
 
The name of the game is "Don't Sell too Early". Devote all energy to scoping the top.

Like I said: my critical indicator is when my Mother in Law actually buys in. Then it's time to dump my bags
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Old 13th February 2021, 00:05     #500
blynk
 
Quote:
Originally Posted by Nich
The name of the game is "Don't Sell too Early". Devote all energy to scoping the top.

Like I said: my critical indicator is when my Mother in Law actually buys in. Then it's time to dump my bags
Is this the same as your mother in law buying bitcoin
Mark Richardson buys bitcoin
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Old 13th February 2021, 10:38     #501
Nich
 
Definitely a warning sign. I also saw Norm MacDonald has also bought in, made a DeFi joke.
https://twitter.com/normmacdonald/st...424820740?s=20

Market top signal intensifies.

OTOH Taleb announced he is selling because "too volatile" and community full of COVID-denying idiots...
https://twitter.com/nntaleb/status/1...992230919?s=20

Top reply recommends he read Antifragile. Zing

Still, my indicator is specifically my mother in law asking about buying Bitcoin, then executing a trade. If she asks about TRON or BNB then I sell immediately after the conversation ends.
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Last edited by Nich : 13th February 2021 at 10:42.
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Old 13th February 2021, 14:12     #502
Ab
A mariachi ogre snorkel
 
Coin of the day



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Old 13th February 2021, 17:08     #503
Nich
 
Mark Cuban has gone down the DeFi rabbit hole. Going through the various applications vs traditional banking experience.

https://anchor.fm/thedefiant/episode...f-Value-eqam61
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Last edited by Nich : 13th February 2021 at 17:10.
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Old 14th February 2021, 11:00     #504
blynk
 
What on earth is happening. Its been BTC has been steady for a bout days.
Im not used this stability
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Old 14th February 2021, 21:34     #505
Nich
 
Rest time is over.

Just jumped $1,000 in 15 minutes, to new ATH, and $1k away from $50k, and US East Coast is about to wake up. We gonna be ok.
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Old 14th February 2021, 22:48     #506
wazza
*flex*
 
muh

Quote:
Originally Posted by Nich
Still, my indicator is specifically my mother in law asking about buying Bitcoin, then executing a trade. If she asks about TRON or BNB then I sell immediately after the conversation ends.
lol irl
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Old 15th February 2021, 01:08     #507
Ab
A mariachi ogre snorkel
 
I have Binance open in a window while I work just to say I saw it hit 50K.

Edit: aaand that didn’t happen
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Old 15th February 2021, 10:27     #508
Ajax
Architeuthis
 
Quote:
Originally Posted by Nich
We gonna be ok.
Until the game of musical chairs stops, at which point you'll be a fraud victim.



We're seeing exponentially increasing rates of USDT printing now: in the last week, billion-dollar blocks have minted out of thin air. Because USDT is mostly 'backed' by Bitcoin and not real dollars, the fraudsters have to print USDT in ever greater quantities to keep the price going up. If there's any downward price movement whatsoever, the 'peg' is lost. We will probably see 2, 5 and 10 billion dollar blocks minted soon.

Let's take a look at how a billion-dollar block is distributed:



From the Tether treasury, to scrambler addresses, to crooked exchanges, where the USDT is used to massively inflate the prices of Eth, BTC, and various others. Some is used to purchase Bitcoin directly, which is used to 'back' their Tether. It makes your fucking head spin.

This scam will eventually implode under its own gravity, and any exchange with exposure to Tether will collapse - that's why Coinbase refuses to touch it. However, the prices of all cryptos will still crater. The only question is what the catalyst will be: most likely a multinational prosecution, similar to what happened with Liberty Reserve.
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Old 15th February 2021, 11:10     #509
pxpx
 
Quote:
Originally Posted by Ajax
Until the game of musical chairs stops, at which point you'll be a fraud victim.


We're seeing exponentially increasing rates of USDT printing now: in the last week, billion-dollar blocks have minted out of thin air. Because USDT is mostly 'backed' by Bitcoin and not real dollars, the fraudsters have to print USDT in ever greater quantities to keep the price going up. If there's any downward price movement whatsoever, the 'peg' is lost. We will probably see 2, 5 and 10 billion dollar blocks minted soon.

From the Tether treasury, to scrambler addresses, to crooked exchanges, where the USDT is used to massively inflate the prices of Eth, BTC, and various others. Some is used to purchase Bitcoin directly, which is used to 'back' their Tether. It makes your fucking head spin.

This scam will eventually implode under its own gravity, and any exchange with exposure to Tether will collapse - that's why Coinbase refuses to touch it. However, the prices of all cryptos will still crater. The only question is what the catalyst will be: most likely a multinational prosecution, similar to what happened with Liberty Reserve.

That's scary, and interesting, and confusing - but the question I have is, what happens after that?
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Old 15th February 2021, 11:20     #510
Lightspeed
 
Nothing?

Crypto prices cratering wouldn't be a new event.
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Old 15th February 2021, 11:41     #511
Ajax
Architeuthis
 
Quote:
Originally Posted by pxpx
That's scary, and interesting, and confusing - but the question I have is, what happens after that?
Many exchanges will go bust. Prices will obviously tank. Companies with large exposure to BTC (like Grayscale and Microstrategy) will be ruined. Hopefully the crypto cancer doesn't impact the wider economy too much (Tesla investment is ominous). In the long term we'll see much less price fluctuation when the prime mover is removed - which could actually be a positive thing, depending on your opinion about the fundamental value proposition of cryptos.
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Old 15th February 2021, 15:04     #512
Know me.
 
As long as they keep printing USDT it will keep on going up and as long as the price of Bitcoin keeps going up then people won't want to cash out to USD.
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Old 15th February 2021, 16:46     #513
Ab
A mariachi ogre snorkel
 
BTC has gone back to sleep...
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Old 16th February 2021, 10:55     #514
Nich
 
power nap
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Old 17th February 2021, 01:20     #515
Ab
A mariachi ogre snorkel
 
aaaaaand that's fifty!

edit: aaaaand here come the bots selling up!
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Old 17th February 2021, 09:59     #516
Nich
 
Big sell wall, one bite at a time. Gonna churn some BTC to those who need it.
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Old 17th February 2021, 14:44     #517
pxpx
 
Naw I missed it
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Old 17th February 2021, 15:15     #518
pxpx
 
Edit: Ok I've seen it now. Will be interesting to see how it settles.
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Old 17th February 2021, 19:30     #519
Nich
 
hold onto your butts....
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Old 18th February 2021, 11:48     #520
blynk
 
Quote:
Originally Posted by Nich
hold onto your butts....
Coz we are all about to be reamed?
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