OkieDokie
Surviving
Jarl (22,857)
Feb 5, 2017
Valhalla
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Post by OkieDokie on Jan 8, 2021 10:04:10 GMT -6
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OkieDokie
Surviving
Jarl (22,857)
Feb 5, 2017
Valhalla
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Post by OkieDokie on Jan 8, 2021 10:14:49 GMT -6
Shagwong Securities LLC @shagwongs i know traders at this shop are asking around Street why gold would be doing so poorly beyond the 'everybody dumping it to buy #Bitcoin ' ........
fundamentally ? what might be happening is people saying the great inflation wave some say is definitely coming might be a mirage while at same time if credit stays as strong as it is , risks to the banking system are nil and bank credit is as strong as its ever been weaker inflation and strong bank credit = no need for gold unless we see USD really freefall
as an aside , dollar bulls like to point out that USD has actually been very strong until recently and that the 10yr average for DXY right now is 89.79 vs DXY currently at 89.70 thus the argument the USD is weak is not true .....yet
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holmanjp
Thegn (3,737)
Aug 10, 2019
Valhalla
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Post by holmanjp on Jan 8, 2021 10:30:25 GMT -6
Do you consider your 401k, or pension (CASH) Not sure about you, but I use mine to earn value, then sell it for cash. I tried to bring 6 amazon shares to buy a used car but they would not except them as payment. The US dollar is the #1 currency used for crime. It's the deep states favorite transfer of wealth tool.
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OkieDokie
Surviving
Jarl (22,857)
Feb 5, 2017
Valhalla
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Post by OkieDokie on Jan 11, 2021 10:06:42 GMT -6
So where is Bitcoin trading today? It was down a ton last night
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holmanjp
Thegn (3,737)
Aug 10, 2019
Valhalla
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Post by holmanjp on Jan 11, 2021 11:12:39 GMT -6
So where is Bitcoin trading today? It was down a ton last night Went down further than I thought still made 20% could have made 25% if I had caught the bottom. You can short it also. If you understand that. Example Sell 1 Bitcoin for 42k then put in a buy at 33.6k (20% lower). You then end up with 1 Bitcoin bought at 33.6k and $8,400 profit.
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OkieDokie
Surviving
Jarl (22,857)
Feb 5, 2017
Valhalla
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Post by OkieDokie on Jan 11, 2021 11:22:17 GMT -6
Yes, what you are doing works both ways. The implications are regulators are looking into Bitcoin and that will drive it down due to fear of problems. I read lots of financial folks say its a ponzi scheme. That won’t hurt you working both sides but people that actually bought it will hurt
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holmanjp
Thegn (3,737)
Aug 10, 2019
Valhalla
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Post by holmanjp on Jan 11, 2021 11:38:31 GMT -6
Yes, what you are doing works both ways. The implications are regulators are looking into Bitcoin and that will drive it down due to fear of problems. I read lots of financial folks say its a ponzi scheme. That won’t hurt you working both sides but people that actually bought it will hurt I try to stick to this. Don't FOMO-fear of missing out Sell the greed Buy the fear
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OkieDokie
Surviving
Jarl (22,857)
Feb 5, 2017
Valhalla
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Post by OkieDokie on Jan 11, 2021 12:21:31 GMT -6
(Bloomberg) -- A steep selloff in Bitcoin is fueling concern that the cryptocurrency bubble may be about to burst.
Bitcoin slid as much as 26% over Sunday and Monday in the biggest two-day slide since March. After recovering some of the losses during the European session, the digital asset has turned lower again to drop more than 20% during New York trading hours. Bitcoin has wiped out about $185 billion in value since Friday, more than the market capitalization of 90% of individual companies in the S&P 500.
“It’s to be determined whether this is the start of a larger correction, but we have now seen this parabola break so it might just be,” said Vijay Ayyar, head of business development with crypto exchange Luno in Singapore.
Bitcoin has more than quadrupled in the past year, evoking memories of the 2017 mania that first made cryptocurrencies a household name before prices collapsed just as quickly. Prices almost reached $42,000 on Jan. 8 with retail traders and Wall Street investors clamoring for a piece of the action.
“It was a parabolic move,” said Matt Maley, chief market strategist at Miller Tabak + Co. “What happens with all parabolic moves? You see severe corrections.”While Maley sees Bitcoin moving much higher over the long term, it will still experience severe corrections along the way, he said.“It will still have big declines of anywhere from 30-60%,” he said. “And it’s going to happen more than once.”
Bitcoin slid 14% to around $32,900 as of 12:51 p.m. in New York. Other coins including Bitcoin Cash, Ether and Litecoin fell even more.
“Time to take some money off the table,” Scott Minerd, chief investment officer with Guggenheim Investments, said in a tweet from his verified Twitter account. “Bitcoin’s parabolic rise is unsustainable in the near term.” In late December, Minerd predicted Bitcoin could eventually reach $400,000.
True believers in Bitcoin argue the rally this time is different from past boom-bust cycles because the asset has matured with the entry of institutional investors and is increasingly seen as a legitimate hedge against dollar weakness and inflation risk. Others worry that the rally is untethered from reason and fueled by vast swathes of fiscal and monetary stimulus, with Bitcoin unlikely to ever serve as a viable currency alternative.
With so many investors wanting to get rich on Bitcoin, the asset is drawing the attention of regulators. On Monday, the U.K.’s financial watchdog issued a stark warning for consumers looking to profit from crypto: be ready to lose everything.
“Investing in crypto assets, or investments and lending linked to them, generally involves taking very high risks with investors’ money,” the Financial Conduct Authority said in a statement. The FCA’s concerns include price volatility, the complexity of products offered and the lack of consumer protection regulation around many of the products.
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holmanjp
Thegn (3,737)
Aug 10, 2019
Valhalla
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Post by holmanjp on Jan 11, 2021 13:02:12 GMT -6
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holmanjp
Thegn (3,737)
Aug 10, 2019
Valhalla
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Post by holmanjp on Jan 13, 2021 15:56:07 GMT -6
Congratulation to those who bought Bitcoin Monday and Tuesday
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OkieDokie
Surviving
Jarl (22,857)
Feb 5, 2017
Valhalla
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Post by OkieDokie on Jan 13, 2021 16:58:04 GMT -6
Its gonna fluctuate a lot is my guess. But as more call for regulation that could drag it down eventually. If doing what Holman does you don’t have the same risk as if you own Bitcoins. ECB Head Christine Lagarde Calls For Global Regulation of “Reprehensible” Bitcoin Paul Joseph Watson13 January, 2021 “Bitcoin has conducted some funny business.” Published 2 hours ago on Getty Images News Head of the European Central Bank Christine Lagarde has called for global regulations on Bitcoin, labeling the cryptocurrency “reprehensible.” Lagarde made the comments during a Reuters Next conference earlier today, during which she asserted that Bitcoin was not a currency. “When you look at the most recent developments upward, and now the recent downward trend … for those who have assumed that it might turn into a currency, terribly sorry but this is an asset and it is a highly speculative asset,” she said. The former head of the IMF, who was previously found guilty of financial negligence by a French court over a €403 million arbitration deal in favor of businessman Bernard Tapie, went on to accuse Bitcoin of being heavily embroiled in criminal activity. “(Bitcoin) has conducted some funny business and some interesting and totally reprehensible money laundering activity,” said Lagarde. The ECB head went on to call for Bitcoin to be regulated by financial authorities. “There has to be regulation. This has to be applied and agreed upon […] at a global level because if there is an escape that escape will be used,” she said. Globalists and technocrats have long begrudged Bitcoin because it is decentralized and therefore impossible to come under the control of centralized financial institutions. The cryptocurrency has also provided a refuge for dissidents who have been deplatformed by regular financial services and institutions over their politics. Bitcoin recently soared to a record high above $41,000 dollars but has since fallen back to around $35,000 dollars. After the cryptocurrency previously hit a record high of above $17,000 dollars at the end of 2017 it then sank bank to around $3,000, emphasizing the wild volatility of the asset. However, numerous analysts are predicting that growing debt, record money printing and hyperinflation could see Bitcoin soar into the hundreds of thousands over the next year. summit.news/2021/01/13/ecb-head-christine-lagarde-calls-for-global-regulation-of-reprehensible-bitcoin/
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Odin
Purp1eOne
Winning
Jarl (15,417)
Feb 3, 2017
Valhalla
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Post by Purp1eOne on Jan 13, 2021 17:36:02 GMT -6
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holmanjp
Thegn (3,737)
Aug 10, 2019
Valhalla
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Post by holmanjp on Jan 13, 2021 18:28:41 GMT -6
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OkieDokie
Surviving
Jarl (22,857)
Feb 5, 2017
Valhalla
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Post by OkieDokie on Jan 13, 2021 19:46:51 GMT -6
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holmanjp
Thegn (3,737)
Aug 10, 2019
Valhalla
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Post by holmanjp on Jan 13, 2021 22:26:56 GMT -6
The good thing about it (who controls it) most of those accounts with the large holding are lost for ever. So they can't manipulate it as bad. Lost their private keys lost their hard or soft wallets, threw hard drive away with log in info on it. The first people involved in 2010 had 100's of thousands of coins. heck they were only $0.0008 cents. People used them as a tokens. They Gave them to people who had no idea what they were and lost them. Satoshi Nakamoto. He is the person who created Bitcoin. Has over 1 million coins.
Right now there are 18,599,737 BTC that are mined only 21,000,000 will ever be mined, the last coin will be mined in 2140 yes 2140, every 4 years it takes twice as long and twice the electricity as it took to mine one, before the halving.
As of June 2020 it cost $8206.64 to mine/create each bitcoin. In 2024 if electricity prices stay the same it will cost $16,408, in 2028 $32,816, 2032 65k, 2036 130k, 2040 260k, and so forth if electricity stays at June 2020 price The last coin would cost $8,724,152,320,000 to mine.
The people who do hold the majority need to sell it for worthless fiat when they buy something. Giving the next person on the orderbook a chance to buy it.
This needs to be updated now with all time highs. As of Nov there were 25,000 BTC millionaires. Now that a new high has been meet the poor fools from the 2017 people that bought at 20k. So the number could easily be 100k Millionaires.
Estimated 3.7 million BTC are lost forever. Estimated from April 2019 11% of the population owned BTC
Just some fun info!
In 2018 I met a Kid high schooler who in 2016 worked all summer break, and then bought 10 BTC for 10k, 1k a piece. 2017 he had over 100 and during the 2018 beginning of the crash bear market he turned those into 250 BTC on the way down.
Just like life it takes BTC to make BTC.
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