Bitcoins - fad or trend?

Discussion of all things crypto and blockchain.
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tdtwedt
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Re: Bitcoins - fad or trend?

Postby tdtwedt » Wed Jul 29, 2020

Why One Trader Is Long "My Favorite Ponzi Scheme..."

https://www.zerohedge.com/crypto/my-fav ... nd-im-long

:pop:
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Wed Jul 29, 2020

tdtwedt wrote:Why One Trader Is Long "My Favorite Ponzi Scheme..."

https://www.zerohedge.com/crypto/my-fav ... nd-im-long

:pop:


I read that article earlier this morning, and it is hot garbage. Cliff notes:

1) author lost a portion of his Bitcoin when a non-US unregulated exchange got hacked
2) author claims Bitcoin is a ponzi, either not understanding how a ponzi scheme works or willfully misleading people
3) author claimed there "was no mechanism to buy Bitcoin until GBTC (Greyscale)" even though he acquired some before it existed
4) author now actually owns GBTC but complains about high fees and NAV spread

This guy has a lot of internal conflicts, like a self-hating used-car salesmen. Basically he wrote the article for clicks because it logically makes no sense, and he knows it too. A ponzi scheme pays new investors with current investor money in order to "guarantee a rate of return" to sucker people in. Bitcoin offers no guarantee, and new investors/buyers aren't paid with old investor money - they are trading something (likely USD or anther crypto) for Bitcoin. The price will go up, then down, then up again, and probably down, and back up. That doesn't make it a ponzi, and by that rationale and definition, the entire stock market is a ponzi scheme. Thanks for playing.
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Sat Aug 01, 2020

Fidelity Digital Assets: BITCOIN INVESTMENT THESIS - AN ASPIRATIONAL STORE OF VALUE. (July 2020)
https://www.fidelitydigitalassets.com/bin-public/060_www_fidelity_com/documents/FDAS/bitinvthessisstoreofvalue.pdf
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Sat Aug 01, 2020

MARKETOUTLOOK–MACROPERSPECTIVE. Paul Tudor Jones & Lorenzo Giorgianni.
THE GREAT MONETARY INFLATION.
https://www.docdroid.net/H1fuimX/the-great-monetary-inflation-pdf
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Sat Aug 01, 2020

Fusion wrote:So here’s a cool development I can share.
My company created a full end to end Securities Based Lending (SBL) platform that connects banks to BD’s who wish to lend to HNW clients pledging their securities as collateral. Merrill pioneered this business 20 years ago and today all the major warehouses that have an affiliated bank are not surprisingly the dominant players with about $600 billion outstanding on around $2.5 trillion in lines.
Believe me, the market trends for SBL are off the charts as advisors gain awareness of the product. SBL has become the most profitable, lowest risk product that investment professionals today can offer. Morgan Stanley leads their quarterly earnings reports with SBL revenues.

A very well capitalized European bank contacted me a few weeks ago. They intend to use our technology to free up liquidity in the global crypto markets, bitcoin and Ethereum in particular. The bank will combine the power of their balance sheet with our technology to offer clients a traditional secured non-purpose line of Credit with BTC and ETH as collateral.

Now, I know there are some smaller players in the space that have tried something similar on a smaller scale so the concept isn’t entirely new. However, with a global bank seizing on this opportunity i am thinking this will be a game changer for the industry. Think of all the bitcoin paper millionaires who want to avoid a taxable event (selling their crypto) to access cash. Needless to say, this is pretty exciting. I’ll report back in a few months when we go live.


Any update on this?
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tdtwedt
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Re: Bitcoins - fad or trend?

Postby tdtwedt » Sat Aug 01, 2020

17 Year Old Tampa Teen Among 3 People Charged With 30 Counts For Recent Twitter Hack

The two other individuals charged include 22-year-old Nima Fazeli in Orlando and 19-year-old Mason Sheppard in the UK. They go by the hacker aliases “Rolex” and “Chaewon,” respectively, according to The Verge.

Sheppard was found out because he used a personal license to verify himself at Binance and Coinbase and his accounts were shown to have sent some of the scammed Bitcoin. Fazeli also used a driver's license to verify on the same exchanges.


https://www.zerohedge.com/political/17- ... itter-hack

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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Mon Aug 03, 2020

This Engineering PhD has a unique cycle theory that makes sense based on the available data. He doesn't see bitcoin as a natural 4-year cycle based on the halving events, but more as a lengthening cycle projection, where each subsequent wave top takes longer and is less pronounced than the former. I could see this playing out as he describes as a definite possibility.

Last edited by SilverDoge on Tue Aug 04, 2020, edited 1 time in total.
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Tue Aug 04, 2020

Coindesk: First Mover: As Fed Nears Inflation Rubicon, Analysts See $50K Bitcoin in Play.
https://www.coindesk.com/first-mover-as-fed-nears-inflation-rubicon-analysts-see-50k-bitcoin-in-play
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Tue Aug 04, 2020

YouTube: The First MAINSTREAM Cryptocurrency Bull Cycle Is HERE! Joe Rogan & Barstool BOTH Pumping Bitcoin! (12:45)

Look at the "cup and handle" in the charts at 2:01 and other places.

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Re: Bitcoins - fad or trend?

Postby Bucketeer » Wed Aug 05, 2020

RT: Putin signs law legalizing Bitcoin & other cryptocurrencies, lifting them out of Russian legal 'grey-zone'.
https://www.rt.com/russia/496959-russia-legalizes-cryptocurrencies/
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Tue Aug 11, 2020

Grayscale: Store of Value.

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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Thu Aug 13, 2020

CoinTelegraph: 250 Million Reasons Why MicroStrategy Adopted Bitcoin... And Why Others Will Too.
https://cointelegraph.com/news/3-reasons-why-microstrategy-adopted-bitcoin-and-why-others-will-too
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