Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
⭐ Merited by JayJuanGee (1)
Another failure to sustainably penetrate $50k while alts are getting most of the attention. This is the predictable outcome of a failed cryptocurrency. Expect to see mostly lower prices for the rest of the year (and ever).
We didn't even kiss 51k, but got in the upper half of 50k. Good call, both proudhon and AlcoHoDL!
+1 WOsMerit to AlcoHoDL
Llamas don't need WOsMerits ATM, do they?
I'd be very wary about handing coins over to BlockFi, it may easily turn out to be the regulated version of what bitcoiners know as "the exit scam".
effectively you'd be selling the bitcoin at a discount given by the collateralisation rate .... and paying interest on the privilege until the the time they go bust and say "coinz went somewhere"
they had a high profile ex-regulator on the board to suck in some credibility and more coins ... he just left
they did the same thing with Corzine and MF Global when they needed physical gold to keep the dollar ponzi alive a bit longer in 2008 ... set-up an options and futures racket to suck in the desired physical product then go bust and pay out cents on the dollars in dirty printed fiat .... burns all the little guys and keeps them away from the casinos big tables where the banks play
it's all a shell game where you got to keep your eye on the pea .... CME got the gold to cover all the big boys shorts positions and all the little guys who were long gold in the futures market that was blowing it up had money confiscated, criminally so, directly from their accounts .... Corzine walked with a slap on wrist $5 mill fine, JPMorgan got the little guys siphoned fiat the day before it went bust ... CME got the gold and the fiat ponzi game goes on, only big, connected shorts that keep the fiat show alive get to truly use leverage .... all is well with the world, if you're okay with criminals in high places
effectively you'd be selling the bitcoin at a discount given by the collateralisation rate .... and paying interest on the privilege until the the time they go bust and say "coinz went somewhere"
they had a high profile ex-regulator on the board to suck in some credibility and more coins ... he just left
they did the same thing with Corzine and MF Global when they needed physical gold to keep the dollar ponzi alive a bit longer in 2008 ... set-up an options and futures racket to suck in the desired physical product then go bust and pay out cents on the dollars in dirty printed fiat .... burns all the little guys and keeps them away from the casinos big tables where the banks play
it's all a shell game where you got to keep your eye on the pea .... CME got the gold to cover all the big boys shorts positions and all the little guys who were long gold in the futures market that was blowing it up had money confiscated, criminally so, directly from their accounts .... Corzine walked with a slap on wrist $5 mill fine, JPMorgan got the little guys siphoned fiat the day before it went bust ... CME got the gold and the fiat ponzi game goes on, only big, connected shorts that keep the fiat show alive get to truly use leverage .... all is well with the world, if you're okay with criminals in high places
Just what I needed to read. It fleshes out my gut feeling with a few factual details I hadn't heard about (or didn't remember). Thank you @marcus_of_augustus.
+1 WOsMerit