bitcoins

[afm199]

https://www.wsj.com/articles/is-there-a-big-short-in-bitcoin-11561464005?mod=hp_lead_pos8

It’s like you talking into a mirror every post.



Well you said so. I’m just asking you to provide proof of shorts. Why is that so hard?

Dude, you've spent the last two years pimping Bitcoin and bragging about how much money you make. That's all you do. And putting people down when they say something you don't like. I've been polite for two years but get over yourself.

 

[Entoptic]

https://www.wsj.com/articles/is-there-a-big-short-in-bitcoin-11561464005?mod=hp_lead_pos8





Dude, you've spent the last two years pimping Bitcoin and bragging about how much money you make. That's all you do. And putting people down when they say something you don't like. I've been polite for two years but get over yourself.

Please link me to a non pay site. I can't read the article..

Look at that glorious chart. Each candle is a day. That's weeks of gains. If this was a stock the both you would be all over it.

That's beside the point. I've done so much more in this thread. It's a shame you don't remember.

Helping people with coinbase
Teaching fundamentals
Answering questions
Explaining the difference exchanges
Hosting a discord channel for barfers to chat

I will question comments like yours stating that institutions are shorting this without any actual proof. I'm sure you would do the same.

I ask myself. What has AFM done?

Same question for Awake. What's your end game? Come in here, stir shit up and leave? Should I do this in your stock thread? You even asked that I take my day trading to another thread which happened out of respect from your request. From that several barfers contacted me concerning trading and again another educational session on trading occurred and discord still has people stop by.

So again. What have you done and when does this stuff stop? We get it you both don't like BTC and think it's a suckers bet.

 

[jiffy]

Don't hold your breath. The IMF isn't sitting on billions in bitcoin.

And I think some of the folks pushing BTC as a currency investment, versus pure speculation, really should study more on the topic of currency valuation and currency trading before they invest, much less tell others to do so. Unless/until crypto displaces fiat currency as the base currency of choice and reduces the purchasing power of fiat currency, there is no reason to be concerned/interested in it for anything other than either speculative or illicit transaction purposes. And the central banks of the world are not going to let any crypto displace/devalue their fiat currency. And the AML rules are always going to be a drag on crypto adoption given its initial (and still) primary use case - anonymous illicit transactions.

Bitcoin is still trading on the greater fool theory, along with repeated market manipulation.

Banks are exploring ways to get into crypto, don't count out the big system when there is a chance to make money.

Illicit transactions, hell cash has been king for that for years. What's new?

You can't sell me on bitcoins by bringing up the validity of blockchain technology.


Though bitcoin runs on blockchain technology, my
brain will never accept associating something financially risky with something invented to be safe from being tampered with.


I can associate positivity to applications of blockchain technology outside of the crypto trading world.
I can see the advantages of the shipping industry adopting blockchain technology to digitize the paper trail. It will take the cost of paper, paperwork, the pushing of multiple copies of paper out of the equation. It will optimise costs. Blockchain applied to the global supply chain will be transformative.

The companies that are pushing the blockchain technology behind shipping and evaluating product quality have crypto tied into the blockchain. If you read the article I linked that company VeChain has a crypto coin. It's tied to their service of tracking goods. It's these early companies that are profiting or trying to profit off of blockchain technology and they receive much of their funding through the crypto coin they released.

Another example is betting online, many companies are looking at blockchain to allow people around the world to bet online, without fear of prosecution in their respective country. These online betting companies are utilizing blockchain but this is all backed by crytpocurrencies, coins.

 

[afm199]

Please link me to a non pay site. I can't read the article..

.

I'm not your professor. Find it yourself. You're an "investor" and you don't subscribe to WSJ? Wow.

PS: I don't care about Bitcoin. It may be the biggest thing since apple pie. It's not my kind of investment.

What have I done? Are you serious? Get over yourself.

Edit:

Nevermind. You're on my ignore list now. Should have done that two years ago.

 

[Removed 3]

Banks are exploring ways to get into crypto, don't count out the big system when there is a chance to make money.

Illicit transactions, hell cash has been king for that for years. What's new?



The companies that are pushing the blockchain technology behind shipping and evaluating product quality have crypto tied into the blockchain. If you read the article I linked that company VeChain has a crypto coin. It's tied to their service of tracking goods. It's these early companies that are profiting or trying to profit off of blockchain technology and they receive much of their funding through the crypto coin they released.

Another example is betting online, many companies are looking at blockchain to allow people around the world to bet online, without fear of prosecution in their respective country. These online betting companies are utilizing blockchain but this is all backed by crytpocurrencies, coins.

I don't disregard the fact that the use of crytocurrencies are built into the blockchain for the shipping industry. The point I was trying to get across is, just because I can find the technology useful won't help me mentally switch over to trusting crytocurrencies as a desirable investment tool at this stage.


I don't have an end game. Just thinking out loud, saying what polite people have been thinking but haven't said. What I have posted lately is not duplication of what I have posted in the past. It is more concise and bolder to drive the point across. As a reminder, if you post something that is addressed to me, you should normally expect a reply. I stop when I have nothing else to say or when posters stop quoting me, expecting a response

 

[jiffy]

I'm not your professor. Find it yourself. You're an "investor" and you don't subscribe to WSJ? Wow.

PS: I don't care about Bitcoin. It may be the biggest thing since apple pie. It's not my kind of investment.

What have I done? Are you serious? Get over yourself.

Edit:

Nevermind. You're on my ignore list now. Should have done that two years ago.

The WSJ article points out a common practice in trading, hedging.

"Such data don’t necessarily mean hedge funds are placing outright bets that bitcoin will drop. The short bets could also be part of hedging strategies"

The other interesting fact in the article is the number of large trusted institutions getting into the futures market for crypto.

Short List from Article:
Intercontinental Exchange Inc., owner of the New York Stock Exchange, TD Ameritrade Holding Corp. and Fidelity Investments, are backing a venture called ErisX, which plans to offer both futures and spot trading of cryptocurrencies.

I find it interesting if Bitcoin and other crypto is speculative garbage, then why is big banking investing in platforms to trade futures or spot trade?

Money, simple answer.

 

[clutchslip]

PS: I don't care about Bitcoin. It may be the biggest thing since apple pie. It's not my kind of investment.

What have I done? Are you serious? Get over yourself.......

I don't know why I am sharing this pertinent information with a site where I think more people dislike me than like me.

But, now that Faceplant is looking to create currency, too, I think it's time to hedge against the shit really hitting the stupid - you-can't-have-companies-controlling-currency fan.

There was a time in the middle ages when one knight/lord had a different coin of his realm than the next knight over the river. It was a shit-show, and trade became impossible. The Euro was created partly to stop currency manipulators like George Soros from destroying millions of peoples cash worth by profiting on the margin between deflated and inflated currencies.

These are all small potato problems compared to having multiple corporate currencies. And if you don't think this has been done. There was the stamp wars, when people invested a lot in "Green Stamps" and "Blue Chip Stamps". Both those companies went bankrupt and left a lot of people with worthless hanging chads.

Bottom line: It may be a good time to invest in the traditional inflation hedged metals. I may be too soon or the U.S. and China could just shut all this crap down. So..... Caveat Emptor.

 

[UDRider]

Interesting article.

https://www.google.com/amp/s/cointe...e-will-probably-not-stop-at-20k-this-time/amp

As you can see people like AFM say institutions are hedging against it but as you can read it’s the exact opposite to the tune of over a quarter billion dollars recently. That alone will increase the price,volume,fomo and discussion around a dead crypto coin.

CME crypto futures are bullish.

Signs pointing to bull market.

So instead of plebs investing on FOMO it's institutional investors doing speculative trading, and it will go higher when the aforementioned plebs jump in on FOMO?

Article did mention transaction costs are more under control now.

 

[Archimedes]

Banks are exploring ways to get into crypto, don't count out the big system when there is a chance to make money.

Illicit transactions, hell cash has been king for that for years. What's new?

So think for a minute and tell me the difference between using crypto versus using cash for illicit transactions. I'll give you a minute.

 

[Archimedes]

I find it interesting if Bitcoin and other crypto is speculative garbage, then why is big banking investing in platforms to trade futures or spot trade?

Money, simple answer.

You have your answer. Just because the financial services industry is involved doesn't mean the product isn't speculative garbage. The big banks will get involved in anything remotely legal in order to make a buck.

 

[afm199]

You have your answer. Just because the financial services industry is involved doesn't mean the product isn't speculative garbage. The big banks will get involved in anything remotely legal in order to make a buck.

And many things not legal. Wells Fargo comes to mind.

 

[Entoptic]

So instead of plebs investing on FOMO it's institutional investors doing speculative trading, and it will go higher when the aforementioned plebs jump in on FOMO?

Article did mention transaction costs are more under control now.

There are a lot of things at play right now but yes once mainstream gets involved again it should moon even higher.

We're about to hit 14k. 5k off from the last high in 2017. Not many people are talking about it like they were before yet the price is climbing.

There is also the circular shorters that keep shorting because they think it's going to drop and every time they get liquidated and buy back in it just makes the price rise.

 

[mrmarklin]

Anybody every buy any? where did you buy?

I never invest in anything I don't understand. No, I won't be buying any.

 

[jiffy]

So think for a minute and tell me the difference between using crypto versus using cash for illicit transactions. I'll give you a minute.

Thanks for the degrading tone...

You can trace crypto almost or maybe easier than cash...did you think about it for more than a minute?

Here I'll google that for you:
https://www.sciencemag.org/news/2016/03/why-criminals-cant-hide-behind-bitcoin

When Bitcoin first emerged, law enforcement officers were “panicking,” Meiklejohn says. “They thought these technologies were dangerous and made it harder for them to do their job.” But as the arrests and convictions have rolled in, “there’s a steady shift toward seeing cryptocurrency as a tool for prosecuting crimes.”

While we all argued over this speculative garbage, 1 Bitcoin increased in value $4,500 in the past month. I also just received a letter from a NYSE traded stock I own that it is filing for bankruptcy, even stocks, which many argue are a real asset backed security vs crypto fail and go to $0

 

[Entoptic]

Thanks for the degrading tone...

You can trace crypto almost or maybe easier than cash...did you think about it for more than a minute?

Here I'll google that for you:
https://www.sciencemag.org/news/2016/03/why-criminals-cant-hide-behind-bitcoin

When Bitcoin first emerged, law enforcement officers were “panicking,” Meiklejohn says. “They thought these technologies were dangerous and made it harder for them to do their job.” But as the arrests and convictions have rolled in, “there’s a steady shift toward seeing cryptocurrency as a tool for prosecuting crimes.”

While we all argued over this speculative garbage, 1 Bitcoin increased in value $4,500 in the past month. I also just received a letter from a NYSE traded stock I own that it is filing for bankruptcy, even stocks, which many argue are a real asset backed security vs crypto fail and go to $0

We're having the same arguments from last time. It's hilarious cause as you said while we're arguing the price is going up and down.

 

[Blankpage]

No one is surprised that prices of anything go up and down or that publicly traded companies go bankrupt. Putting a value on crypto seems highly imprecise, illogical and powered largely by hopes and dreams.

 

[jiffy]

No one is surprised that prices of anything go up and down or that publicly traded companies go bankrupt. Putting a value on crypto seems highly imprecise, illogical and powered largely by hopes and dreams.

Agreed, but Bitcoin has historically gone up over time, whatever that means.

 

[Entoptic]

Greyscale dumping???

https://grayscale.co/

 

[redruM]

Most world governments have started acquiring bitcoin and now one of the largest holders is the IMF with a stack of 170,000 bitcoins in its reserve.

Preposterous lol. Link (from legit source) or gtfo. If anything, the global banking cartel will destroy bitcoin and usher in their own "global reserve crypto".

Meanwhile, to the contrary, central banks all around the world have been acquiring gold hand over fist for the last 6-7 years. That is easily verifiable.

Don't be surprised if/when gold makes its return to some form of monetary relevance.

 

[Removed 3]

To me, it looks like everyone and their grandma is building their own blockchain for whatever foreseen profitable business reason and have their own crypto built in. Decentralization is right. Want to speculate purely on the currency? There's a market for that. Want to buy more stuff? There's a place for that. I doubt it very much that there will be a leading digital currency that will make all others obsolete. At least not in my lifetime.


No, the argument in this thread has been, are the 2 bitcoin enthusiasts with a sales pitch really amassing bitcoins in hopes that they will be filthy rich or are they just saying that and are trading just to catch the peak periods to sell and let the suckers hold the bag when it goes down? I bet they took a sales training class cuz it sure sounds like they have the jargon nailed down to make buying an urgency (e.g., current fiat currency is in crisis, exaggeration of numbers/statistics, you're gonna miss out kinda talk, they have a method to profit). The tone of their posts (in totality) are such that they can't be believed.



This is enough for me to believe that they have misled some people and they are indifferent to the consequences (pg.143)