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24th May 2018, 12:36 AM | #2801 |
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"The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975 |
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24th May 2018, 03:44 AM | #2802 |
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But, there is a theory called Adams theory.
It's going down.... https://forums.babypips.com/t/the-ad...lder-jnr/41158 |
24th May 2018, 11:15 AM | #2803 |
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Good point. But in those 1960's in Zimbabwe they were not allowed to bet. Besides they needed to keep their jobs. In SA I knew someone with insider horse racing knowledge. He did okay and did not attract attention. Some horses get shot for skewing the betting too much. ETA... Down we go! (Bitcoin) |
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24th May 2018, 03:36 PM | #2804 |
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From Bloomberg: U.S. Launches Criminal Probe into Bitcoin Price Manipulation
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24th May 2018, 10:30 PM | #2805 |
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25th May 2018, 09:59 PM | #2806 |
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26th May 2018, 12:10 AM | #2807 |
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26th May 2018, 01:04 AM | #2808 |
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Nothing will come of it, because...
Bitcoin Price Drop From $20,000 Likely Due to Market Manipulation:
Quote:
Bitcoin was invented so people could trade freely without being limited by corrupt banking practices and unnecessary regulation. It cannot be manipulated by 'flooding the market with fake orders to trick other traders into buying or selling' because every transaction is recorded in the Blockchain for all to see. No matter how much the price varies or what the cause, nobody can complain that they didn't have access to accurate information. Bitcoin doesn't need to be investigated. If the price crashes that's just market forces in action, and anybody who can't stand the heat should get out of the kitchen. |
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26th May 2018, 02:00 AM | #2809 |
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26th May 2018, 03:41 AM | #2810 |
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You still don't get it. I am not defending bitcoin. I am merely pointing out how ridiculous the arguments against it are.
Bitcoin may well crash and burn (or do any number of other things) but it won't be because technical analysis or crystal ball gazing or any other form of woo has suddenly become a valid tool. I would say (yet again) that most cryptocurrencies will not amount to anything. Only a handful will and for how long is anybody's guess. |
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26th May 2018, 04:35 AM | #2811 |
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26th May 2018, 12:00 PM | #2812 |
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Just in case someone might take this seriously, I want to point out that the block chain records the fact of bitcoins moving between anonymous accounts, but does not record what if anything was traded for those bitcoins. And of course exchange orders are not transactions.
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26th May 2018, 03:28 PM | #2813 |
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Fundamentals drive any market eventually, it can be likened to stretching and twisting a rubber band, but place it back at rest and it has the original shape. TA can only interpret the stretching and twisting, never the fair value of the entity.
For example gold rallied last week after the toys were getting tossed, but the 4 hour algo predicted the rally. |
26th May 2018, 03:39 PM | #2814 |
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TA suggests to me we are about to have the long awaited collapse, the set up looks dire.
7335 when posted |
27th May 2018, 12:07 AM | #2815 |
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Oh well, my strategy of buying the dips may not work anymore. I will not be buying the bottom - namely zero. Then it is game over.
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27th May 2018, 03:09 AM | #2816 |
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27th May 2018, 03:40 PM | #2817 |
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Price Will Catch Up to Bitcoin’s Record Hashrate By Q3: Analyst
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7th June 2018, 08:15 PM | #2818 |
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HODL those bitcoins!
Bitcoin price forecast to double as experts revise cryptocurrency predictions
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8th June 2018, 05:55 PM | #2819 |
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Research: Only 10% of Bitcoin Cash (BCH) is used for transactions
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Either way one fact is obvious - neither Bitcoin nor its 'improved' replacement are being widely adopted for its original stated purpose as a 'Peer-to-Peer Electronic Cash System'. Which leaves only one question remaining - what is it good for? Its volatility makes it a poor 'store of value' (whatever that means) and it has just about run its course as a Ponzi scheme. What will happen when 'investors' finally see it for what it is and lose interest? Will it crash to its true value (0), or will a hard core of HODLers manage to keep the price up forever? More importantly, will we ever get to see John McAffee eat his **** on national television? |
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8th June 2018, 07:33 PM | #2820 |
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8th June 2018, 10:37 PM | #2821 |
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8th June 2018, 10:43 PM | #2822 |
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"The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975 |
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8th June 2018, 11:02 PM | #2823 |
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8th June 2018, 11:20 PM | #2824 |
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Many types of derivatives may well be described as Ponzi schemes. Banks could also be said (with a bit of licence) to be running Ponzi schemes since they rely on others making deposits (or loan payments) to fund withdrawals.
But I have never heard of buying something in the hope of flipping it for a profit being described as a Ponzi scheme. That would make all the supermarkets in the world Ponzi schemers. |
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"The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975 |
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8th June 2018, 11:37 PM | #2825 |
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I think that is a false analogy. Roger was saying what may be true, history will call cryptos ponzi schemes. I see this as a legitimate forecast.
Will Warren Buffet or Charlie Munger disagree with Roger? |
8th June 2018, 11:56 PM | #2826 |
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"The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975 |
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9th June 2018, 12:26 AM | #2827 |
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I don't see that. Ponzi schemes provide an income for the holder of the asset. The income is not derived, as the investor supposes, from earnings of the asset, but from investments by later victims. However there is an income. Bitcoin produces no income of any kind. It is therefore not a Ponzi scheme. It is a speculative bubble.
The bubble Burst in December, and since then prices have remained in a range up to about half the December peak. By post bubble standards it's doing quite well, but the heady "days of wine and tulips" have gone - at least for now. And I think for ever. |
9th June 2018, 12:52 AM | #2828 |
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"The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975 |
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9th June 2018, 11:38 AM | #2829 |
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"To me, Hitler is the greatest man who ever lived. He truly is without fault, so simple and at the same time possessed of masculine strength" -Leni Riefenstahl Wollen owns the stage
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11th June 2018, 06:36 AM | #2830 |
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Bitcoin just took a huge drop! Hit a low of 6629.
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11th June 2018, 09:40 AM | #2831 |
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The Most Important Creation In The History Of Man
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11th June 2018, 09:42 AM | #2832 |
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There goes another 10% ..
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11th June 2018, 10:32 AM | #2833 |
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11th June 2018, 11:39 AM | #2834 |
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Time to buy ! Time to buy !
Maybe .. |
11th June 2018, 10:52 PM | #2835 |
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Actually it's both. Cryptocurrencies are a new kind of Ponzi scheme that anyone can get in on. In the early days you didn't need a particularly powerful computer to mine bitcoins, so it was possible to create 'money' out of thin air. Then all you had to do was sit back and watch it's 'value' grow as more suckers poured money into it. The entity calling itself 'Satoshi Nakamoto' did exactly that, 'mining' thousands of bitcoins when they were worth practically nothing. He/it knew that if bitcoin became popular the price would necessarily skyrocket, since that feature is built into it.
Unlike a physical commodity Bitcoin has virtually zero fundamental worth, so the price is almost entirely determined by how much hard currency has been traded for it. This is similar to a Ponzi scheme which has no actual earnings but is fueled solely from investor input, but since anyone can buy and sell bitcoin it is also a vehicle for speculation.
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11th June 2018, 11:11 PM | #2836 |
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Those who are ignorant of history are doomed to repeat it.
All you need to add to this psychic ability of the early investors is the plotting with the NWO to destroy national currencies and you have re-created the CT that has been sprouted since the beginning of the bitcoin threads and repeated and refuted ad-nauseum. |
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11th June 2018, 11:37 PM | #2837 |
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And once again the price drop is blamed on some 'anomaly' rather than a flaw in the product itself.
But not everyone agrees on the cause. Bitcoin's Price Is Below $7K And (Some) Hodlers Aren't So Happy About It
Quote:
When you have an unstable system with positive feedback any small perturbation becomes greatly amplified at the output. The response tells you more about the system itself than the nature of the disturbance, which can be considered 'noise'. For bitcoin the 'energy' in the system is the amount of money invested, the driving force or 'amplifier' is investor sentiment, and social media provides the positive feedback. But the wild oscillations that result can't hide the fact that energy is leaving the system. Unless bitcoin can some find way to generate real income the slide will continue. |
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12th June 2018, 12:08 AM | #2838 |
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I am willing to entertain the idea that 'Satoshi Nakamoto' was simply an idealistic hacker with a limited understanding of economics, who though he was doing the World a favor by kick-starting a 'digital currency' which (he thought) was desperately needed to avert global catastrophe. But if so then he was either hopelessly naive or blinded by conspiracy theories himself.
And perhaps the reason he hasn't 'de-cloaked' is that he doesn't want to admit his naivety and take responsibility for the monster he created. Or perhaps he saw how much money could be made from it... But while he/it remains anonymous there will always be a question mark around his/its motives. A Ponzi scheme may not start out as deliberate fraud, but it becomes one when its creator realizes that the investment has no legs - and yet continues to promote it. |
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12th June 2018, 01:43 AM | #2839 |
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Or perhaps the entity known as "Satoshi Nakamoto" came to a bad end and that is why their wallets haven't been touched nor has anybody heard from them for a long time.
Speculation is not knowledge and hope is not a forecast. Your posts belong strictly in the CT section - as do all the other posts of the same vein that preceded yours by many years. |
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12th June 2018, 05:15 AM | #2840 |
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