Gold vs bitcoin ...

[SunTrader]

I disagree, Stock Market is record high, real estate has minted more millionaires than ever and commodity prices are raging right now(Uranium, Gold etc).

Times are good to be a Canadian, especially the investor class.

Right, but all that gets in the way of a angry white man's outrage. Well certain white men.

 

[NoahA]

No offense, but why do you think I posted the following chart (which you clearly "liked")? I suggest you compare the time that I posted the chart (in Pacific Standard time) and when BTC reversed.



View attachment 336849

Ok... Fair enough... But there was no mention of either exiting a short, or going long. Not saying u were shorting, but u expected going below 60k. If now we break ATH in the next few days, then exiting was a bad strategy if you didn't say where to re-enter.

 

[NoahA]

Nobody is talking about Bitcoin, everybody is talking about price of Bitcoin.

And price of Bitcoin can be compared to madoff (assuming that Tether is a fake stablecoin/sort of a ponzi scheme that is printing USDT and propping up the market, heavily distorting the value).

Bitcoin would work the same way even if dumped to $1,000. Heck, it would work even better because transaction fees would be cheaper.

This is why it's so dangerous IMO. Because almost anyone can get fooled since it's not a traditional ponzi, but an obfuscated one that is hard to detect.

People who are entrapped in a ponzi-scheme never see it coming until they lose it all. Because you are getting paid (with Bitcoin you are not making interest, but make money as it appreciates) and the haters are obviously wrong. People are making money in the moment and can't see beyond that.

The greatest financial con in the history of man-kind.

They will keep pumping until it collapses. I don't know how high. Maybe this is the top, perhaps it goes to $100k or $150k. Enjoy the ride, once it goes bust we will be left with fairy dust.

Unlike Bitcoiners, i am not speaking in absolutes. I could be wrong. But this is my assumption based on the behavior of the people and the evidence in favor of Tether being a ponzi.

Have you ever heard the phrase that if you aren't long Bitcoin, you are short??? So how is your short position working out??

 

[orbit23]

Have you ever heard the phrase that if you aren't long Bitcoin, you are short??? So how is your short position working out??

This is exactly what i am talking about lol. Everyone in ponzi scheme is making paper gains until it collapses and you are left with nothing. It works all the way until the collapse.

IMO Tether went bust in end of 2022 and this is the exit pump. They must pump the price up to keep the ponzi going or it all collapses.


If you can make money on short term movements, i am all for it. Unfortunately, I am not good at it.

I am just saying that in my opinion telling people to invest into bitcoin is akin to peddling them into a ponzi scheme.

 

[johnarb]

They will keep pumping until it collapses. I don't know how high. Maybe this is the top, perhaps it goes to $100k or $150k. Enjoy the ride, once it goes bust we will be left with fairy dust.

Unlike Bitcoiners, i am not speaking in absolutes. I could be wrong. But this is my assumption based on the behavior of the people and the evidence in favor of Tether being a ponzi.

You've been fudding for a while, clearly you missed all the gains, because you believed your own fud

That's the way it works, you believe your own worst fears and stay out

Have fun staying poor!

BWAHAHAHAHHAAHAHAHHAHAAH

 

[NoahA]

. It works all the way until the collapse.

Do you put any weight into fiat collapsing? Governments are clearly printing it as fast as they can in order to cover the government spending. So surely you must apply at least a small percentage to fiat currency collapsing.

I agree that there is a small chance that Bitcoin could collapse but only because of some technical reason. But I think there is a hundred times greater chance that Fiat will collapse before Bitcoin.

I would actually say that Fiat is already collapsing as we speak. You don't want to be holding it when it's obvious to everyone else.

 

[The_Krakenite]

Please note:

To be very generous, this only shows the erosion of value up to 2020...

 

[schizo]

Ok... Fair enough... But there was no mention of either exiting a short, or going long. Not saying u were shorting, but u expected going below 60k. If now we break ATH in the next few days, then exiting was a bad strategy if you didn't say where to re-enter.

After having received all that in-your-face crap, why should I go through that again? For whose benefit? Sorry bro, but that is all you get from me.

 

[orbit23]

Do you put any weight into fiat collapsing? Governments are clearly printing it as fast as they can in order to cover the government spending. So surely you must apply at least a small percentage to fiat currency collapsing.

I agree that there is a small chance that Bitcoin could collapse but only because of some technical reason. But I think there is a hundred times greater chance that Fiat will collapse before Bitcoin.

I would actually say that Fiat is already collapsing as we speak. You don't want to be holding it when it's obvious to everyone else.

I agree EXACTLY with what you are saying. Tether is likely akin to the federal reserve for the crypto.

But what's the difference between the FED and Tether?

Government can print dollars. What do you think would happen if you start counterfeiting the US dollar and start printing dollar bills at home?

Government can print dollars. If you do the same you go to jail and your operations will be shut down.

By the way in my mind the thing with Tether is that it's not fully reserved and backed (they probably do have some reserves, but i don't believe they have enough to back the stablecoin 1-1).
They are swimming naked, but we can't know that until the tide goes out.

They have lied countless times. At beginning they were denying the allegations that Bitfinex and Tether are anyhow correlated, until the panama papers leaked and the ownership was tied.

They lied about always being backed by 1-1, until it has been leaked that $1B of their money has been seized by the feds. The CFTC sued them for those claims and proved they were backed 1-1 only 25% of the time in a period of i don't know how long(1 or 2 years).
I don't know how much marketcap Tether had at the time (probably like $2B, compared to $100B now).

There is PROOF that Alameda by SBF received "secret line of credit" (they would give them up to $2B of credit before they received the money).

They also issue and mint Tethers for loans. People give them collateral in Btc/ETH and they mint and loan the USDT against that crypto collateral.
Not my words, this is what Mahinsky from the Celsius ponzi scheme claimed (that's how they received loans from Tether).

Tether is also capitalizing and funding Nexo, which is an obvious ponzi scheme.


Where there is smoke, there is fire. Where there is a lot of smoke....

 

[The_Krakenite]

IIRC even SBF said himself in Lewis' book... the Tether guys were the most sketchy as hell he dealt with.

That should be pretty telling what's coming.