Jonesy74 Posted June 18, 2022 Share Posted June 18, 2022 2 hours ago, lombardo said: It's stupid and it's been happening for years. Go see the sell and buy walls; they are are bigger at round numbers. The same happens with all assets. Gold also bounces off round numbers. It’s human nature Quote Link to comment Share on other sites More sharing options...
JawKnee Posted June 18, 2022 Share Posted June 18, 2022 36 minutes ago, nero120 said: Interesting, which bank do you work for? I'm a senior engineer at a fintech company, all the major sell side firms are our customers. I'd love to say but don't want to risk saying more than I should. We are big, mostly retail and commercial banking. Looking at ways we can use smart contracts to streamline complex loan procedures amongst other things. No amount of price depreciation in the crypto market is going to affect this. Quote Link to comment Share on other sites More sharing options...
JawKnee Posted June 18, 2022 Share Posted June 18, 2022 1 hour ago, henry the king said: Exactly my view. The coming liquidity crisis will be huge. BTC has never seen this environment before. They had money on tap before for all crypto projects as money was everywhere. No longer. As if central banks are never going to print money again. Probably sooner rather than later when QT tanks the economy. Your posts are hilariously short sighted. Quote Link to comment Share on other sites More sharing options...
Jonesy74 Posted June 18, 2022 Share Posted June 18, 2022 5 hours ago, henry the king said: You are a genius. I was just going through some of the older posts to see how they have aged and saw this. You are ahead of the game Please go further back to when he was telling everyone xrp/ripple was the future… 😂 Quote Link to comment Share on other sites More sharing options...
PalmerEldritch Posted June 18, 2022 Share Posted June 18, 2022 1 minute ago, JawKnee said: As if central banks are never going to print money again. Probably sooner rather than later when QT tanks the economy. Your posts are hilariously short sighted. So what part of the QT, interest rate increases and central bank commentary have you missed the last few weeks? Cheap money has disappeared. The age of high inflation and high borrowing costs is here. If you haven’t figured that out then good luck to you. Quote Link to comment Share on other sites More sharing options...
lombardo Posted June 18, 2022 Share Posted June 18, 2022 8 minutes ago, PalmerEldritch said: Cheap money has disappeared. The age of high inflation and high borrowing costs is here. If you haven’t figured that out then good luck to you. There is too much debt in the economy. The future is easy more again. Quote Link to comment Share on other sites More sharing options...
wsn03 Posted June 18, 2022 Share Posted June 18, 2022 (edited) 1 hour ago, Warlord said: Here's the problem: Bitcoin is nothing. It's digital token with no use or value . THAT's the problem and always has been ! This If the value of my house crashes I can still live in it. If the value of my company crashes I can still keep doing whatever I do to earn an income. Bitcoin is just an unregulated electronic token backed by no one, backed by nothing. There won't even be any souvenirs to be had when its dead. At least tulips could be looked at Edited June 18, 2022 by wsn03 Quote Link to comment Share on other sites More sharing options...
lombardo Posted June 18, 2022 Share Posted June 18, 2022 1 hour ago, Warlord said: with no use You have been told many times that it does have uses. Two examples: 1, To escape a country with your money. 2, Remittances to sanctioned countries. You will just ignore this the next time you want to criticize crypto. Quote Link to comment Share on other sites More sharing options...
warpig Posted June 18, 2022 Share Posted June 18, 2022 2 hours ago, UberMonkeySmallAndChunky said: The BTC haters are providing a great buy signal right now. Wow they are angry, bottom must be close. In terms of charting... it's likely already hit it... I'd be very surprised if it went lower on a weekly close. Quote Link to comment Share on other sites More sharing options...
JawKnee Posted June 19, 2022 Share Posted June 19, 2022 1 hour ago, PalmerEldritch said: So what part of the QT, interest rate increases and central bank commentary have you missed the last few weeks? Cheap money has disappeared. The age of high inflation and high borrowing costs is here. If you haven’t figured that out then good luck to you. Haha. If you think that is going to persist once GDP takes a nosedive then you really haven't been paying any attention. The BOE's .25 point hike last week was derided globally as being miniscule compared to what it needed to get inflation under control. Of course it is designed to make us think they are doing something but they've got a housing market to protect first and foremost. Before you know it, they'll be lowering rates and firing up QE again to bring down government borrowing costs. Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 19, 2022 Share Posted June 19, 2022 On 18/06/2022 at 00:51, warpig said: All good thanks... 🤪 The markets and the "world" are mental... expect the unexpected! 👍 Quote Link to comment Share on other sites More sharing options...
warpig Posted June 19, 2022 Share Posted June 19, 2022 17 hours ago, henry the king said: The TA doesn't work because it is all manipulated. The whales tried to hold on at 40k. Failed. So it plunges to 30k. They then tried to hold on at 30k. Failed. So plunged instantly to 20k. They are now desperately trying to manipulate it to hold on at 20k. It will fail and plunge to some new value. When 20k breaks then all those BTC bulls who say "BTC never sinks below previous ATH levels" will be made into liars and the whole thing could collapse. Sorry I can't make any sense out of that. TA does work... just speak to ANY investment bank in the world. Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 19, 2022 Share Posted June 19, 2022 On 18/06/2022 at 00:15, MonsieurCopperCrutch said: Remember when Bitcoin crashed to $5000 in March 2020? Yeah so do I and the same old salty characters above failed to see the buying potential then as they do now. Their loss will be my mad gainz. Just think 4x up from March 2020 and they still claim that you are losing. 🤡🤡🤡🤡 MSM FUD too. On 18/06/2022 at 00:20, MonsieurCopperCrutch said: Oh and you can go back much much further in this thread to 2013 and you'll see the very same comments from the very same salty dawg nocoiners. Their own stupidity and ignorance for a technology they refuse to understand knows no bounds. You could sty that they are 'Chartered'. 🤣🤣🤣🤣 There is a theme. 😁 On 18/06/2022 at 01:11, zugzwang said: Has to happen, if only as part of a bancor. The US economy's share of global GDP is now too small for it to serve as lender of last resort to the rest of the world. See the Triffin dilemma. https://en.wikipedia.org/wiki/Triffin_dilemma The Triffin dilemma or Triffin paradox is the conflict of economic interests that arises between short-term domestic and long-term international objectives for countries whose currencies serve as global reserve currencies. This dilemma was identified in the 1960s by Belgian-American economist Robert Triffin, who pointed out that the country whose currency, being the global reserve currency, foreign nations wish to hold, must be willing to supply the world with an extra supply of its currency to fulfil world demand for these foreign exchange reserves, leading to a trade deficit.[1] The use of a national currency, such as the U.S. dollar, as global reserve currency leads to tension between its national and global monetary policy. This is reflected in fundamental imbalances in the balance of payments on the current account, as some goals require an outflow of dollars from the United States, while others require an inflow. The Triffin dilemma is usually cited to articulate the problems with the role of the U.S. dollar as the reserve currency under the Bretton Woods system. John Maynard Keynes had anticipated this difficulty and had advocated the use of a global reserve currency called 'Bancor'. Currently, the IMF's SDRs are the closest thing to the proposed Bancor but they have not been adopted widely enough to replace the dollar as the global reserve currency. The TD is all we need to know combined with the Petro-dollar. It's over, even if it takes 10years to unravel. This is one of the reasons, along with the debt held by China, why I do not understand why some propose that China will become the GRC. 17 hours ago, Pop321 said: Agree. Even if the US think they want this, it isn’t a US want…..it’s like water running downhill, it just is. It’s not just West driven but rather it’s World Leader driven both East and West. Biden may not truly understand the full narrative but plays his part for his team and Putin for his. The end of an empire starts with decoupling of the reserve currency and the building up of manufacturing abroad ie 70’s and 80’s. Happens every time, less political but rather opportunistically human….it’s then the economic power begins to shifts and all that needs to happen is time to pass. China buying US Treasuries with all those dollars it has earned producing stuff for the West. Now we wait to see whether we end up with a bipolar world or indeed I believe more likely a multipolar world. Africa, Indian, South America, Middle East, Russia, China, US, UK, Germany and the EU all to establish alliances and how it plays out. Agree. Only yesterday, Powell made reference to the dollar not necessarily always being the global reserve currency. The game is up. 16 hours ago, Pop321 said: It was a sharp drop….it’s hovering now. Did some news break? My personal interest is Bitcoin has been a useful ‘canary in the mine’ over the weekend to gauge Monday morning sentiment in the tech (and by default) the wider markets. At the moment it looks like it should be an interesting weekend. The price never consolidated at 20k so it just dropped like a lead balloon, or at least this was the detailed discussion at a BT Space that I was on earlier. 15 hours ago, longgone said: Ohh i do own coins. Just not the ones going to zero. By this time tomorrow it will be 14k Please. I bought at just over $18k and have new limit orders set. They have ye to all execute. 14 hours ago, Sour Mash said: So when does Saylor/MicroStrategy have to start liquidating? Or maybe he is liquidating, hence the price drops despite many people trying to HODL. He claimed that he had restructured his debt obligations to change the margin call level to $3.5k (having previously said around $21k) but that seems very unlikely to me. 13 hours ago, reddog said: If he is liquidating, his lenders won't exactly want him to be advertising the fact. If it was confirmed he is liquidating the market would fall more. 13 hours ago, Confusion of VIs said: That would be an impressive piece of financial magic. Just so you all receive the message. 9 hours ago, JawKnee said: Proper capitulation territory. This has some way to fall I think. What makes this different from 2017 is that is is being driven by hedge fund forced liquidations instead of retail. Back then smart institutions were standing on the sidelines picking up cheap crypto. Once in a generation opportunity now to scoop some extremely cheap coins from the whales who have no option but to sell. Might take a while but once the dust has settled, this is going to rebound hard. This seems to agree with the 'analysts' on BT - Celsius, 3AC, BlockFi?, Coinbase? plus all those $hitcoins that use BTC as collateral. Also, as we know there are ongoing rumours over Tether. Short-term, we shouldn't be too surprised given inflation, IR etc but many believe the Fed will pivot when something breaks and the prediction is that the credit market will lead this. Regardless, we know there will be less liquidity but if BTC decorrelates as expected, it will be an interesting time. All these moves are being driving by margin calls but also whales are manipulating the markets. BTC's fundamentals have not changed so I am still buying and am keeping dry powder. I was always psychologically prepared for BTC to go down by 80%+ when I first entered but I must admit, I wasn't necessarily expecting it. However, it doesn't phase me. The same analysts whilst not making strong predications have given a range of $9k - $13k on the downside and $30k on the upside based on order books etc. I don't rad 8 hours ago, lombardo said: The price is dropping mainly because miners are selling. Those electricity costs are hurting them. POW has its problems. A miner was on a space earlier and he is reaching his break even point. Expect the usual. The selling of bitcoin, going off line etc. Given the number of miners in the space now, this may be more problematic as they have been borrowing BIG or should that be BIGLY? 😂 7 hours ago, lombardo said: Why would I sweat when I saw BTC fall 88% in the 2014-15 crash? We are currently at a 73% crash. The Fed will pivot. I will sweat if crypto is banned by governments. Then I will consider selling. Until then I am not willing to keep a big amount of money in a bank. I couldn't careless if 'crypto' is banned. 4 hours ago, lombardo said: These are not mutually exclusive. Look how in 2020 it crashed to 4k and then went to 69k the following year. More than a 10x rise. You no coiners are in for a roller coaster ride of emotions inverse to the price. I am so glad you are paying attention to all of this. I am buying more at 17k. It will be fun. Last sentence - #canrelate 😁 4 hours ago, PalmerEldritch said: He’s been called out a few times for lying. So if I get this right he turned £140k inheritance into a £300k cash out then turned a £1m paper fortune into what must be about £50k now. Investment genius. Also borrowed £100k from a bank to buy 2 Teslas thinking HEX was going to pay it all off forevermore. If I recal correctly, the purchase was for Markyh's wife. 3 hours ago, henry the king said: Exactly my view. The coming liquidity crisis will be huge. BTC has never seen this environment before. They had money on tap before for all crypto projects as money was everywhere. No longer. True but it will also destroy the Ponzi schemes, leverage etc. Long-term, I believe this is very good situ for biticon. 3 hours ago, Dorkins said: This is overegging it a bit, the El Salvador government has supposedly bought about $100m of bitcoin for a country of 7m people so about $14 per head. The nominal GDP of El Salvador is about $4k per person per year so it's about a day's GDP lost. Not great, but not nation-bankrupting either. BTC will allow them to regain their sovereignty. I for one am pleased that the WEF, IMF stranglehold on the country is no longer. 3 hours ago, FTB-house-hunter said: Well it's getting a bit scary out there, too scary for me. Just cancelled my buys at $12k for BTC and $400 for ETH, I think it's going down further, but it may just be me panicking. Just tried to take some money out the exchange and will see if it goes through ok. if the price goes down enough. There will be some kind of recovery in the future imo. It might not last, but the volatility will hopefully let me exit in profit. 😳😂 Buy a few? What price are you expecting it to fall to, £1k?! 3 hours ago, Pmax2020 said: As you’ll see over the next couple of sentences I know nothing about Bitcoin or trading but I’ve followed the news closely on this for months. My question is why does the price continue to fall? Why are people selling? Why aren’t people buying at these discounted rates? Is there a legitimate concern it will become worthless? Surely Bitcoin is so iconic it’ll always be worth something as one of the more prestigious crypto’s? Forced liquidations, leverage, blow ups, scams, less liquidity etc. For me, I will continue to buy regularly 3 hours ago, reddog said: I believe there is a mechanism to stop this. If there are less miners, I think it starts to get easier and thus cheaper to mine, so you can still make mining profitable. The difficulty adjustment, such an incredible mechanism. Remember how perfectly it adjusted with China's exodus from mining? 2 hours ago, reddog said: I heard the problem is due to Tether. Apparently Tether has stopped minting Tethers, which has caused these problems. But who knows really. Tether may well bring a nasty shock. I was expecting it following the Evergrande issue. I suspect the Emperor has few clothes and more likely made from paper. 😁 Geddit? 2 hours ago, JawKnee said: As if central banks are never going to print money again. Probably sooner rather than later when QT tanks the economy. Your posts are hilariously short sighted. The FED has no choice but to capitulate. They are playing a game. It's just a matter of when. We have already entered the debt spiral. Rock, hard place. 42 minutes ago, lombardo said: You have been told many times that it does have uses. Two examples: 1, To escape a country with your money. 2, Remittances to sanctioned countries. You will just ignore this the next time you want to criticize crypto. Thank you. I have not viewed this video. 33 minutes ago, warpig said: In terms of charting... it's likely already hit it... I'd be very surprised if it went lower on a weekly close. I have no expectation as we are in unchartered territory. 20 minutes ago, Buffer Bear said: 👍 Yes, @warpig expect anything, I agree. Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 19, 2022 Share Posted June 19, 2022 (edited) 🙄 Edited June 19, 2022 by Buffer Bear Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 19, 2022 Share Posted June 19, 2022 Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 19, 2022 Share Posted June 19, 2022 My favourite post today...😂 Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 19, 2022 Share Posted June 19, 2022 (edited) HAPPY FATHER'S DAY, Bitcoiner or not, 😆 The Father’s Day Gift Guide For Bitcoiners https://bitcoinmagazine.com/culture/the-fathers-day-gift-guide-for-bitcoiners bitcoinmagazine.com The Father’s Day Gift Guide For Bitcoiners Everyone can reply Edited June 19, 2022 by Buffer Bear Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 19, 2022 Share Posted June 19, 2022 Quote Link to comment Share on other sites More sharing options...
Jonesy74 Posted June 19, 2022 Share Posted June 19, 2022 3 hours ago, PalmerEldritch said: So what part of the QT, interest rate increases and central bank commentary have you missed the last few weeks? Cheap money has disappeared. The age of high inflation and high borrowing costs is here. If you haven’t figured that out then good luck to you. Good luck to anyone holding GBP Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 19, 2022 Share Posted June 19, 2022 Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 19, 2022 Share Posted June 19, 2022 3 minutes ago, dannyf said: Good luck to anyone holding GBP 💯 hence the continuous BTC buying... Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted June 19, 2022 Share Posted June 19, 2022 3 minutes ago, dannyf said: Good luck to anyone holding GBP Indeed. Just bought 6 Bitcoin from Kraken for just over £90,000. £15,000 a Bitcoin is a ******in bargain. Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 19, 2022 Share Posted June 19, 2022 My company is working on a lightning offering...💯 1:05 Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 19, 2022 Share Posted June 19, 2022 Today's history lesson. Quote Link to comment Share on other sites More sharing options...
henry the king Posted June 19, 2022 Share Posted June 19, 2022 9 hours ago, Unmoderated said: I'm not the biggest follower on this thread but in fairness to @markyh he did say he'd cashed out enough to pay off the mortgage a good while ago We can all be anything we want to on here of course but if you played the crypto casino and won then fair play. Sadly, there's going to be a lot of people wondering where it all went. I have a relative who insists their friend wins money on the scratch cards. That is because they only hear about the wins. Not the losses. Quote Link to comment Share on other sites More sharing options...
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