Mike Sinclair
I'm your huckleberry
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"Diamond Hands Andy" we used to call himIt's not going any lower.
"Diamond Hands Andy" we used to call himIt's not going any lower.
Um longing something that just nuked 99.999% isnβt buying the dip.Attention crypto experts ... What is your opinion take on Jeff Berwick??
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How I Made Millions Buying Billions of Terra Luna at $0.000001
Download Jeff Berwickβs Latest Crypto Pick Report | https://dollarvigilante.com/coinpick *** RECENTLY RELEASED *** 2022 TCV Workshop: Crypto Basics Replay | https://tcvworkshop.com/ (Get started with crypto) TDV Public Telegram Group | https://t.me/β¦www.bitchute.com
Terra is (well, was) a DeFi coin??Btw, guess what was the runner up after ETH for hosting DeFi? Terra, the stablecoin that just blew up. And you can imagine the mess in that space with all the Terra locked up as DeFi collateral.
Only listened to him a couple times. Seems like an interesting guy.Attention crypto experts ... What is your opinion take on Jeff Berwick??
Thanks, you seem to have a deep grasp on the crypto world which I don't. Jeff gets a lot of praise and a lot of hate as a crypto-anarchist, I just enjoy his take on things, he's entertaining, quirky and "out their" which is okay by me.Only listened to him a couple times. Seems like an interesting guy.
The video you posted was very interesting. He exploited limitations in Binance's exchange software to buy huge amounts of LUNA at the effective bottom. He was smart enough to look at the buy/sell stacks and figure out what was happening, and profit from it.
They say ponzis pump hardest, but they also take market share from the leader hardest too:Terra is (well, was) a DeFi coin??
Someone should take Cuz's hot takes and feed them into an AI that would turn it into a memoir.Given that two thirds of all DeFi run on the ETH network, discussion of DeFi necessarily involves ETH.
Btw, guess what was the runner up after ETH for hosting DeFi? Terra, the stablecoin that just blew up. And you can imagine the mess in that space with all the Terra locked up as DeFi collateral.
CuzinEd said βPrecious metals are scam for the same reason crypto is. Whenever you have someone claiming that something is more valuable and telling you that what you have is losing value but they want to sell you their valuable stuff you should be smart enough to know it's best to walk away. If not you are just a dumbass.β
As much as I hate to countersignal Cuzβs towering intellect, speculation exists precisely because the future is unknowable.
Wow, I never realized it was a smart-contract coin. Well, "not anymore", lol.They say ponzis pump hardest, but they also take market share from the leader hardest too:
Absolutely. The evidence that BTC is in a bear market is overwhelming: death cross, price rejected at 1yr MA, NASDAQ bleeding out, etcβ¦There is literally no downside to selling now and buying again at the end of the bear market, which typically lasts 2-3 years. Anything else is just being in denial about the true risk of owning a speculative asset during an enormous recession. If Bitcoin/crypto starts truly bucking the trend before the general market turns up you can always buy back in but you can't unlose your money if it acts more like Ciena Corporation than Amazon
These charts can't answer the obvious question: who is going to sell that didn't already sell?Absolutely. The evidence that BTC is in a bear market is overwhelming: death cross, price rejected at 1yr MA, NASDAQ bleeding out, etcβ¦
Low 20s is the base case given historical behavior. Any fat tails in the broader markets could spread via contagion and see BTC go even lower.
Average realized price, the price most people paid for BTC, is $26k. Most people donβt have BTC in wallets, but rather on exchanges. They have it there with a stop loss order at the price they bought in at so they βdonβt lose money.βThese charts can't answer the obvious question: who is going to sell that didn't already sell?
Bitcoin sometimes trades like a traditional asset, sometimes it doesn't. But short of some broader financial crash, I don't see the death cross or MA as relevant in calling lower lows. What would drive lower lows is some reason that people need to pull money out of it. But then you have institutions coming in to salvage it.
I'm not saying I know, and I wouldn't be surprised if it touched low twenties - I've been expecting that since the Elon crash - but I don't think it will ride that range very long if it goes there at all.
Most people donβt have BTC in wallets, but rather on exchanges.
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And this was back before last month's crypto washout. That number is probably down to 2%, or less. Which is probably part of the reason that Coinbase's stock price got the crap kicked out of it.
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Just 1.3 million Bitcoin left circulating on crypto exchanges
Exchange wallets accounted for 9.5% of the BTC supply in October 2020, just before the 2020 Christmas all-time highs, and 7.3% in July this year.cointelegraph.com
Sam Bankman-Fried willing to spend $1 billion to keep Trump away from White House
.. ostensibly because Trump isn't a crypto booster?
I don't think staking rewards are necessarily a Ponzi -- they are simply an inflationary reward that is given to people actively involved in the token vs passive holders. It's a tax levied on those who cannot be bothered to stake.They donβt promise farming yields or staking rewards.
My big problem with PoS is that it is structured to lock up liquidity making it unusable when it is needed most, which makes it an inherently unstable financial system. For me that was the most important learning from the Terra debacle. Note that in Terra's case, it was the stakers who paid the ultimate tax--they got zeroed out.I don't think staking rewards are necessarily a Ponzi -- they are simply an inflationary reward that is given to people actively involved in the token vs passive holders. It's a tax levied on those who cannot be bothered to stake.
Proof of Stake operates a bit like a taxi medallion system: an authority issues a finite number of licenses, and you must buy one from another medallion holder if you want to operate a taxi. The value of the license captures the discounted value of any economic profits that are expected to accrue from operation. The problem for ETH is that unlike New York taxi medallions, there is no moat around the business besides network effect. New entrants can borrow the open source code and produce more βmedallionsβ on a lower cost network, thus defeating the monopoly of the licensing authority.I don't think staking rewards are necessarily a Ponzi -- they are simply an inflationary reward that is given to people actively involved in the token vs passive holders. It's a tax levied on those who cannot be bothered to stake.