MISC Crypto Crew (MCC) Vol: XIII: Money printer goes brrrrrr, But Bitcoin doesnt

[lordpatrick]

Hey, if the consensus is "Bitcoin is going to test 40k", chances are :

- It won't go that far and pump before and leave most people hanging and buying back higher
- Go that far, let people refill, then drop it harder again, scare them into selling again.

[dankydank]

Dip might be over for good. Survived the Sunday dip and gone up 100 billion market cap.

[TakeTheLift]

Fuk. Managed to get a few orders in and longed BTC at the bottom but missed the alt pumps as was asleep. Left on the sidelines with 25% in usdt. Feelsbadman
Not hopping in now, gunna wait for the next Sunday dip.

[Gringo12]

getting my retired nana to open up a trading account that i can use so i get her tax rate instead of mine until Australia cuts our taxes back to 30% in a couple years

[Techriding101]

What does this gay **** do and why would I want to mine, let alone trade it? (srs/interested)

Absolutely nothing at the moment. You just sign up and collect. You generate an extra 5% every referral so somewhat pyramidy. The logic is 'bitcoin was worthless until it was given value'. So they plan to launch mainnet at 100m users or end of 2021.

Like i said could be a worthless waste of time but ive seen ****tier ideas make money.

[Techriding101]

Utter ****coin probabluly there so they get ad revenue from their app. Better believe im already signed up though

You can turn off ads.

[chalup]

mayn i told yall. We gonna keep going too.

[mcdojo]

Product marketing at niantic labs / pokemongo just tweeted that Flow Blockchain is the future. Broootal for noflowcels.

https://mobile.twitter.com/VeronicaS...21178066833411

[mgftp]

I was so close to hitting the button yesterday to convert my ETH to BNB while ETH was down 30% and BNB was down 40%..... looking at the charts this morning I wish I would have done that.

[W1LLW]

This is the de facto accumulation zone (more so this morning). Went balls deep in fantom at 0.45 .

Some nice bullish divergence on the 4 hour for BTC. Is this the bottom boys? Up only from here.

Anyone who didn't make purchases this morning/last night is fuking retarded.

Famous last words

Fuk. Managed to get a few orders in and longed BTC at the bottom but missed the alt pumps as was asleep. Left on the sidelines with 25% in usdt. Feelsbadman
Not hopping in now, gunna wait for the next Sunday dip.

I was so close to hitting the button yesterday to convert my ETH to BNB while ETH was down 30% and BNB was down 40%..... looking at the charts this morning I wish I would have done that.

I can understand some guys being scared to buy in the other day but i'm pretty sure we touched high 42k or low 43k with BTC. That is a 27% correction from 58k. In these corrections (and bull runs for that matter), trying to time the absolute peak or the absolute bottom is a fool's game.

According to this chart below, technically i missed out on the "absolute" bottom of FTM since it reached 0.38 but 0.45 was more than enough nice correction from the .87 peak. Now this 4hr chart looking like it's going to leg up.






You don't have to go balls deep on the corrections, but that 38k to 43k window was the prime accumulating window.

[moosik85]

Oh yeah no way. I'm just saying this is a perfect loading zone and newbies are going to be loading here. Institutions might make it drop to get them to sell and buy cheaper but its going to ladder step up for the next couple of months after we get done trading sideways. Seriously think we see 100k by October.

October is realistic. Maybe sooner after the house just passed the 2 trillion spending bill.

getting my retired nana to open up a trading account that i can use so i get her tax rate instead of mine until Australia cuts our taxes back to 30% in a couple years

Australia is a joke. Pay taxes on top of taxes to work (tax on petrol + gst on the tax on petrol...). Pay income tax. Pay sales tax to buy crypto. Take all the risk, make a profit. Pay your income tax rate on that profit (for me 37%).
Shares I can understand because there is gov backing and safeguards.
Crypto on the other hand... all the risk is on the individual, boomer bureaucrats don’t want a bar of it but still want their 37% capital gains tax. Hell banks in aus can block your fiat transactions if they know it’s going to be used to buy crypto

I’m thinking about doing something similar to you

Fuk. Managed to get a few orders in and longed BTC at the bottom but missed the alt pumps as was asleep. Left on the sidelines with 25% in usdt. Feelsbadman
Not hopping in now, gunna wait for the next Sunday dip.

Same same brother. Didn’t get all my limit orders filled but such is life.


Bitcoin is heading into a strange place. What is the purpose of a “decentralised currency” that is only held and being gobbled up in significant numbers by institutions and people that brought when it was worth nothing. Also as more institutions get involved it’s performance becomes tied to the s&p 500 futures.

[mgftp]

Alts are screaming up the charts right now. ICX, NEO, GAS, BNB, all greatly outpacing BTC ETH... CAKE up 40%, AUTO 50%, lol. Wish I had been farming more CAKE and AUTO.

Bitcoin is heading into a strange place. What is the purpose of a “decentralised currency” that is only held and being gobbled up in significant numbers by institutions and people that brought when it was worth nothing. Also as more institutions get involved it’s performance becomes tied to the s&p 500 futures.

I think more and more people are shifting from viewing BTC as possible currency to more of a investment and store of value.

[W1LLW]

Briefly almost schit myself seeing ethereum at $10.50 then realized i was looking at poverty ethereum classic. I was SO confused for like .75 seconds.

[chalup]

God damit im at the store trying to fix my wife’s phone because ATT is garbage and I have a btc limit order at 50k and I can’t login to cancel it because I have to have my phone and she’s getting her hair done. FFS

[entropy91]

Bitcoin dip has exactly exactly mirrored the spx

Zero data

I’m not a no coincel hating on bitcoin I’m just pointing out the fact as more institutions get involved the more regular market fluctuations will effect bitcoin



It’s hit strong support at 45k I agree, don’t think it will get to or go below 42k. Will it hit ath in 3 days. No chance

If you actually looked at the data you'd see the correlation for the last few months is below 0.2. It was also negatively correlated form mid 2019 to Q1 2020.

[chalup]

October is realistic. Maybe sooner after the house just passed the 2 trillion spending bill.



Australia is a joke. Pay taxes on top of taxes to work (tax on petrol + gst on the tax on petrol...). Pay income tax. Pay sales tax to buy crypto. Take all the risk, make a profit. Pay your income tax rate on that profit (for me 37%).
Shares I can understand because there is gov backing and safeguards.
Crypto on the other hand... all the risk is on the individual, boomer bureaucrats don’t want a bar of it but still want their 37% capital gains tax. Hell banks in aus can block your fiat transactions if they know it’s going to be used to buy crypto

I’m thinking about doing something similar to you



Same same brother. Didn’t get all my limit orders filled but such is life.


Bitcoin is heading into a strange place. What is the purpose of a “decentralised currency” that is only held and being gobbled up in significant numbers by institutions and people that brought when it was worth nothing. Also as more institutions get involved it’s performance becomes tied to the s&p 500 futures.

A finite amount and institutions got in late in the game dude. Add on the amount of lost btc and it’s a perfect money holder that makes you money. The only strange place it’s going is making people lots of money. Where will it be at in 10 years? No idea. Depends on who holds I guess.

[Bluku]

Briefly almost schit myself seeing ethereum at $10.50 then realized i was looking at poverty ethereum classic. I was SO confused for like .75 seconds.

The amount of times my heart has skipped a beat cause coinmarketcap glitched and showed a £ sign instead of a $ sign.

[BetaAsPhuck]

Yo dog where do I cop some omi?

Bitforex.

Coming to anther CEX in early March though if you don't want to use Bitforex.

[BetaAsPhuck]

Bitcoin is heading into a strange place. What is the purpose of a “decentralised currency” that is only held and being gobbled up in significant numbers by institutions and people that brought when it was worth nothing. Also as more institutions get involved it’s performance becomes tied to the s&p 500 futures.

After research, Bitcoin has IMO been subverted by the government and bankers, they lead the anti-Big Block Bitcoin brigade. Big block Bitcoin would enable Bitcoin to scaled, and would enable DApps to be built and microtransactions to be build on-chain. No need for layer 2 smart contract or lightning network to solve the problem.

Gold does not challenge the traditional financial system, and so 'Digital Gold' doesn't challenge the system either.

These 2 videos break down specific names involved in keeping Bitcoin 1mb, so that Bitcoin can't scale. Lightening Network - 'the solution' - is centralized.

Intro to the controversy:

Roger Ver is a well know promoter of Cryptocurrency, Voluntaryist, and Entrepreneur.

24:20 - 31:30 Why Block Size Matters

41:30 - 52:30 Roger Ver's experience and observations inside the Bitcoin community of state actors being 'interested in' and infiltrating the community.




BANKS Hijacked Crypto - Hidden Puppeteers Exposed

[entropy91]

After research, Bitcoin has IMO been subverted by the government and bankers, they lead the anti-Big Block Bitcoin brigade. Big block Bitcoin would enable Bitcoin to scaled, and would enable DApps to be built and microtransactions to be build on-chain. No need for layer 2 smart contract or lightning network to solve the problem.

Gold does not challenge the traditional financial system, and so 'Digital Gold' doesn't challenge the system either.

These 2 videos break down specific names involved in keeping Bitcoin 1mb, so that Bitcoin can't scale. Lightening Network - 'the solution' - is centralized.

Intro to the controversy:

Roger Ver is a well know promoter of Cryptocurrency, Voluntaryist, and Entrepreneur.

24:20 - 31:30 Why Block Size Matters

41:30 - 52:30 Roger Ver's experience and observations inside the Bitcoin community of state actors being 'interested in' and infiltrating the community.




BANKS Hijacked Crypto - Hidden Puppeteers Exposed

Bitcoin isn't turing complete. Bcash is a failure and I don't take anyone who thinks bigger blocks solve the blockchain trillema seriously.

"Gold doesn't challenge the current financial system"

U wot? Precious metals certainly challenge fiat currencies.

Strong everything

[Luc1fer]

Need to break 52k to get out of the woods.

[BetaAsPhuck]

Bitcoin isn't turing complete. Bcash is a failure and I don't take anyone who thinks bigger blocks solve the blockchain trillema seriously.

Which Bitcoin blockchain are you talking about?

"Gold doesn't challenge the current financial system"

U wot? Precious metals certainly challenge fiat currencies.

How?

What is Gold existing currently doing to challenge the fiat currencies? All people do is use it as a store of value.

Gold backed currencies challenge fiat currencies, but Gold being used as a store of value does nothing. It's just an alternative savings account for fiat.

[BDSMBBW]

Roger Ver's experience and observations inside the Bitcoin community of state actors being 'interested in' and infiltrating the community.

[BetaAsPhuck]

[img]https://i.imgur.com/8vEAMGv.jpg[/mg]

Bitcoin Cash has the same problem as BTC, developers don't want to embrace big blocks so that big DApps can be built directly on-chain. Roger Ver talks about that in this podcast with Big Block Bitcoin supporters...



Those guys support BSV and BCH. They just prefer BSV because it embraces DApps on-chain along with microtransactions, Bitcoin and Bitcoin Cash devs do not. It's a great podcast IMO, those guys are always insightful and objective.


That post was not a support of Bitcoin Cash.

I've noticed that there is a lot of tribalism in Crypto. I have no emotional attachment to any project, I just support decentralization.

[dunnie]

yea for the 52k
and On binance theres still a lot of buy order in the 40-45 k

edit we could dick around 51xxx-45xxx for a while

[entropy91]

Which Bitcoin blockchain are you talking about?



How?

What is Gold existing currently doing to challenge the fiat currencies? All people do is use it as a store of value.

Gold backed currencies challenge fiat currencies, but Gold being used as a store of value does nothing. It's just an alternative savings account for fiat.

I'm talking about the only Bitcoin blockchain that exists. It does not support loops and is not turing complete. Contrast that to ETH which uses gas to solve the halting problem.

"Gold backed currencies challenge fiat currencies"

LOL so currencies backed by GOLD challenge fiat currencies, but GOLD doesn't? Do you even logic?

An alternative savings account for fiat... that people are storing their value in. That makes it the most valuable asset. When monetization occurs it has no ceiling.

People spend fiat currencies because of Gresham's law. The currency deemed the most worthless by society is what is in circulation.

[entropy91]

Bitcoin Cash has the same problem as BTC, developers don't want to embrace big blocks so that big DApps can be built directly on-chain. Roger Ver talks about that in this podcast with Big Block Bitcoin supporters...



Those guys support BSV and BCH. They just prefer BSV because it embraces DApps on-chain along with microtransactions, Bitcoin and Bitcoin Cash devs do not. It's a great podcast IMO, those guys are always insightful and objective.


That post was not a support of Bitcoin Cash.

I've noticed that there is a lot of tribalism in Crypto. I have no emotional attachment to any project, I just support decentralization.

Giant block limits go against decentralization. They raise the bar for who can participate in the network. When you get to 1GB you're talking data center levels of computing power needed.

[BetaAsPhuck]

Giant block limits go against decentralization. They raise the bar for who can participate in the network.

Getting off core topic.

Do you have anything to say about the state infiltration of BTC. e.g. the names given in the videos. (The podcast I posted goes into more depth too.)

Convo best continued in this thread though...

https://forum.bodybuilding.com/showt...hp?t=179820783

[BetaAsPhuck]

I'm talking about the only Bitcoin blockchain that exists. It does not support loops and is not turing complete.

I don't get the anti-Bitcoin fork mindset.

I can't argue against you though, because I would have to try to persuade you to abandon crypto tribalism and purity spiralling.

I have no emotional attachment to any crypto project, so it's difficult for me to empathize with people who are against project because they aren't 'pure' or 'the true version'.

I'm purely a pragmatist when it comes to crypto.

LOL so currencies backed by GOLD challenge fiat currencies, but GOLD doesn't? Do you even logic?

Gold backed currencies put a physical cap on inflation. Currently there is no cap on inflation other than banker's analysis/minds.

Gold as a store of value is simply used for storing fiat currency value against inflation, and getting fiat currency when you sell the gold, to spend in the traditional financial system. It's an alternative savings account, it's used to maintain financial standing within the traditional financial system (store of value) not to challenge it.

An alternative savings account for fiat... that people are storing their value in. That makes it the most valuable asset. When monetization occurs it has no ceiling.

People spend fiat currencies because of Gresham's law. The currency deemed the most worthless by society is what is in circulation.

How does that challenge the financial system?

Currency is used to finance our corrupt political system, wars, intelligence services, etc, and it's controlled by central banks. So how does Gold being a store of value challenge any of that.

A decentralized currency does, because it's not controlled by central banks, and it's used to pay for good and services, borrowing and lending, etc. Currency usage directs resources within a society. Gold is just a store of value.

[entropy91]

Getting off core topic.

Do you have anything to say about the state infiltration of BTC. e.g. the names given in the videos. (The podcast I posted goes into more depth too.)

Convo best continued in this thread though...

https://forum.bodybuilding.com/showt...hp?t=179820783

Bruh

There's so much misinformation I don't even know where to begin. BTC chain blocksize is essentially 2MB with SegWit, not 1MB.

I'm not going to dive into conspiracy theories. Craig Wright has been claiming to be Satoshi for years and has tried to have the bitcoin whitepaper scrubbed from the internet. Why people still listen to him is beyond me. Seems to only be a few who are subject to cult like narratives.

Bcash and BSV are failures. I'd also love to know how increasing block size miraculously enables Bitcoin to be turing complete.