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Thread: Bitcoin

  1. #2541
    dzajic's Avatar
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    Quote Originally Posted by Shaikar View Post
    Quote Originally Posted by Spaztick View Post
    Quote Originally Posted by Smarnca View Post
    Guys,

    Now is the time to invest!
    Well if you mortgaged your hose to buy btc when it was 20k, yes it its horrible that it crashes to $10k. But honestly it is a bullshit commit with an agenda since btc is currently ~$3,900 and falling. And there is actual criminal investigation if the 20k peak was market manipulation.

    Sure, maybe btc survives and rebounds and in 2025 someone who bough bitcoin for $1,000,000 is in despair that it dropped under $100k.

    Other than original cabal there are few people who bough it at under $100 and cashed out when it was 20k. Most people either cashed out long before, or lost their money when one or other exchange site "got hacked" (read, owner took off with their money) or reinvested at the peak hoping that sky is the limit.

  2. #2542

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    Quote Originally Posted by dzajic View Post
    And there is actual criminal investigation if the 20k peak was market manipulation.

  3. #2543
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    Quote Originally Posted by dzajic View Post
    And there is actual criminal investigation if the 20k peak was market manipulation.


      Spoiler:
    https://i.imgur.com/Rvz5b6l.gif
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  4. #2544

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    Bitcoin = Elon Musk impersonators + Jita scammers


  5. #2545
    Yankunytjatjara's Avatar
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    Almost $500,000 in Ethereum Classic coin stolen by forking its blockchain



    https://arstechnica.com/information-...ckchain/?amp=1
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  6. #2546
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    https://www.gizmodo.com.au/2019/02/c...only-password/

    Different way to lose money on crypto at least.
    Quote Originally Posted by lubica
    And her name was Limul Azgoden, a lowly peasant girl.

  7. #2547
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    Quote Originally Posted by Lana Torrin View Post
    https://www.gizmodo.com.au/2019/02/c...only-password/

    Different way to lose money on crypto at least.
    Caution: Forensic Nerdery

  8. #2548
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    I got a bitcoin for free in a bag of washing powder the other day
    https://i.imgur.com/Rvz5b6l.gif
    Careful not head hit on rock!
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    http://i.imgur.com/FCT2R1h.png

  9. #2549
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    Quote Originally Posted by Sparq View Post
    Quote Originally Posted by Lana Torrin View Post
    https://www.gizmodo.com.au/2019/02/c...only-password/

    Different way to lose money on crypto at least.
    Caution: Forensic Nerdery
    There are some assumptions made in that analysis that maye prove to be its downfall. (I mean it may also be 100% correct, but its made some assumptions).
    Quote Originally Posted by lubica
    And her name was Limul Azgoden, a lowly peasant girl.

  10. #2550
    Jack Coutu's Avatar
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    Sign me up I just dumped all of my life's earnings into that link!

  11. #2551

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    That's some mighty fine necromancy right there.

  12. #2552
    Movember 2011Movember 2012 Nordstern's Avatar
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    I need someone to explain the Luna debacle and how 250M coins turned into 6T.
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  13. #2553

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    Speaking of Buttcoin, had a blurb pop up on Axios that Tether is getting wobbly, which... god i hope to see the day when that scam blows.

    Any chance that day might be soon?

  14. #2554
    rufuske's Avatar
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    Quote Originally Posted by Nordstern View Post
    I need someone to explain the Luna debacle and how 250M coins turned into 6T.
    Money laundering/tax evasion/cooking books by big banks. All the big players have their biggest profits from shifting cartel, oligarch etc money. All the 'scandals' and resulted fines etc are just a cost of doing bussiness. Give me a name of a big player and I will tell you who it launders money for. Or just google past cases.

    Also wide coin/nft crash is happening because big players realized 'meme stonks' give them all the volatility they need and still won't be persecuted by taking competing positions, because official narrative is it's all caused by retail rushes to both sell and buy. And those still make for better collateral or swap ingredients.

    You just witnessed how pump and dump looks like. Specifically Coinbase for example was never buying coins bought by retail traders. These were all for all intent and purposes glorified CFDs. So some time before crash Joe Average bought Luna on Coinbase but there was no transaction on block chain. Coinbase simple showed he has them because trust me bro. Then you dump the whole thing into the ground and count on panicked Joe Average closing his position at a loss, because what else he's going to do? It's purely speculative commodity, it's not like it's going to pick up value back again when sentiment changes. And then you pocket the difference. And that's how you drain 'poors, uneducated retail' from what they have.
    Last edited by rufuske; May 13 2022 at 07:09:28 PM.

  15. #2555
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    Quote Originally Posted by Nordstern View Post
    You just witnessed how pump and dump looks like. Specifically Coinbase for example was never buying coins bought by retail traders. These were all for all intent and purposes glorified CFDs.
    I was trading a lot and i mean a lot in EVE and pump+dumb was my favorite game to get really rich and icing on the cake, fuck with others.


    From my point of view:

    Stock market = Casino in Las Vegas, chances are calculable. You have to play like the bank, very long term then you have good chances to win.

    Bitcoin et al. = Equivalent of a doctered poker game with mafia guys in a dark backroom or like a pyramide scheme, you are in very early or you will get fucked.
    Does a population have informed consent when that population is not taught the inner workings of its monetary system, and then is drawn, all unknowing, into economic adventures?

  16. #2556
    rufuske's Avatar
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    Quote Originally Posted by Jori McKie View Post
    Quote Originally Posted by Nordstern View Post
    You just witnessed how pump and dump looks like. Specifically Coinbase for example was never buying coins bought by retail traders. These were all for all intent and purposes glorified CFDs.
    I was trading a lot and i mean a lot in EVE and pump+dumb was my favorite game to get really rich and icing on the cake, fuck with others.


    From my point of view:

    Stock market = Casino in Las Vegas, chances are calculable. You have to play like the bank, very long term then you have good chances to win.

    Bitcoin et al. = Equivalent of a doctered poker game with mafia guys in a dark backroom or like a pyramide scheme, you are in very early or you will get fucked.
    Exactly the case. I also was getting my feet wet with trading in Eve. In 2008 saw the writing on the wall and started buying shit after crash. So far I have not been able to beat the gains made then. Although CD Projekt also gave me a great roi. And with all the shorting of it and crashing now it might be time for round 2. Made some nice profit on GME as well lately but not a lot as I treat it as high risk so didn't invest a lot. And I missed the 80 dip few day ago. :/ Oh well I'll hop in on next one. For last year it's pretty much guaranteed 30% return every quarter. More if you're lucky with catching the dip and timing peak.
    Last edited by rufuske; May 13 2022 at 08:27:59 PM.

  17. #2557
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    Quote Originally Posted by Nordstern View Post
    I need someone to explain the Luna debacle and how 250M coins turned into 6T.
    I would like to know too.

    I know that the stablecoin UST (Terra USD) depegged from the dollar and Luna subsequently crashed trying to generate enough funds to repeg UST to the dollar. I have no idea how the depeg happened, but it seems an automatic process in the Terra system was being taken advantage of to push UST down. The 250m to 6T is Do Kwon printing LUNA to try and save UST.

    There's a twitter thread dated Nov 21 of last year, https://twitter.com/FreddieRaynolds/...Zf05JHrTA&s=08, suggesting how to depeg UST and crash LUNA. I have no idea if this is, in fact, what happened during the past week.

    Sorry for shitty summary.

  18. #2558
    rufuske's Avatar
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    Quote Originally Posted by August View Post
    Quote Originally Posted by Nordstern View Post
    I need someone to explain the Luna debacle and how 250M coins turned into 6T.
    I would like to know too.

    I know that the stablecoin UST (Terra USD) depegged from the dollar and Luna subsequently crashed trying to generate enough funds to repeg UST to the dollar. I have no idea how the depeg happened, but it seems an automatic process in the Terra system was being taken advantage of to push UST down. The 250m to 6T is Do Kwon printing LUNA to try and save UST.

    There's a twitter thread dated Nov 21 of last year, https://twitter.com/FreddieRaynolds/...Zf05JHrTA&s=08, suggesting how to depeg UST and crash LUNA. I have no idea if this is, in fact, what happened during the past week.

    Sorry for shitty summary.
    This is one of the scenarios how it can happen. If you want to dig deeper google how what is being used as backing of tether changed over the time since it's inception. Hint: it's another ticking time bomb.

  19. #2559
    Movember 2011Movember 2012 Nordstern's Avatar
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    I found this:

    Last edited by Nordstern; May 14 2022 at 03:16:01 AM.
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  20. #2560
    Jori McKie's Avatar
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    Quote Originally Posted by Nordstern View Post
    I found this:

    So a stablecoin is nothing else than a big bubble of some fiat currency but mostly other crypto beanies. In Jita any sane trader would call it a scam.
    Does a population have informed consent when that population is not taught the inner workings of its monetary system, and then is drawn, all unknowing, into economic adventures?

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