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The Lunatic Fringe - Trading talk.

Voodoo

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I don't know but some of the miner charts are starting to look pretty bad on the Daily. This Barrick gold chart does not look good.

1613923245990.png
 

hammerhead

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Question for anyone who has used PayPal for crypto or a sell through. When do they mail out 1099's?
I asked someone that has a bay store and this may pertain to stores only but I was told paypud should give you a 1099k or one should be available for downloading.
 

Lancers32

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It is not available for me. Thanks. I can't be the only US citizen who bought and sold crypto through PayPal. What a clusterfuck.
 

Zed

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Could be right. Maybe the introduction of the Wall Street ETF for Bitcoin will mark the top.
These things tend to work that way!
 

gnome

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This is the negative stuff they float for Bitcoin. I think TPTB want to accumulate get the ETF live then slam the door.


https://www.bridgewater.com/research-and-insights/ray-dalio-what-i-think-of-bitcoin
Dalio is pretty focused on capital preservation through non-correlated assets, so would make sense he is interested, but also cautious about bitcoin. I like his analogy of bitcoin being an option on a future. And good point about the 'scarcity' of bitcoin being a bit of a weak argument - it could be replaced by any other crypto with more use cases - ether being a prime contender for that.
 

Zed

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For some strange reason the establishment keeps float articles like this.

https://www.barrons.com/articles/bi...ould-be-a-red-flag-for-regulators-51613764881
Just a passing thought...

An "anonymous" network capable currency that can be transferred across borders without using any traditional or formal (aka government monitored, influenceable, controllable) channels has to become of concern to government in a time of rising international tensions.

What level do tensions have to rise to before they consider it a threat?

Consider this...

1. If you have a network deliverable product paid for in a network based currency how the heck do government get their cut?
2. If I import product can I use BTC to part pay the shipment and reduce the USD amount being billed and thereby lower any tariff? In other words how can BTC and the like be used to end run trade restrictions?

I really don't know how long this will run before it is considered a problem... but I can see issues coming.
 
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Lancers32

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Dalio is pretty focused on capital preservation through non-correlated assets, so would make sense he is interested, but also cautious about bitcoin. I like his analogy of bitcoin being an option on a future. And good point about the 'scarcity' of bitcoin being a bit of a weak argument - it could be replaced by any other crypto with more use cases - ether being a prime contender for that.
The supply of Ethereum is not finite though is it? Look a lot of guys with wads of cash are buying this crap so I am along for the ride hoping to get out somewhere near the top. That's it. Only Bitcoin though but I know if you are very good and somewhat lucky you can turn some thousands into millions in $hitcoins. Not for me at this stage of life.
 

Lancers32

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Just a passing thought...

An "anonymous" network capable currency that can be transferred across borders without using any traditional or formal (aka government monitored, influenceable, controllable) channels has to become of concern to government is a time of rising international tensions.

What level to tensions have to rise to before they consider it a threat?

Consider this...

1. If you have a network deliverable product paid for in a network based currency how the heck do government get their cut?
2. If I import product can I use BTC to part pay the shipment and reduce the USD amount being billed and thereby lower any tariff? In other words how can BTC and the like be used to end run trade restrictions?

I really don't know how long this will run before it is considered a problem... but I can see issues coming.

Peter Brandt put up a troublesome tweet concerning Bitcoin today. Seems like he wants it both ways now since two days ago he posted a parabolic chart of Bitcoin. Goes something like if govt could confiscate Gold in the '30's they can do the same again with another asset. Hedge much?
I think the Bitcoiners call that kind of stuff FUD. BTW he says he's a buyer at 44K. 13K south of here.
 

Zed

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Don't let anyone tell you the British have no sense of humor. Someone get Grandma a bra ffs.

Back in the day...


...doing OK for a gran.
 

savvydon

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Just a passing thought...

An "anonymous" network capable currency that can be transferred across borders without using any traditional or formal (aka government monitored, influenceable, controllable) channels has to become of concern to government in a time of rising international tensions.

What level do tensions have to rise to before they consider it a threat?

Consider this...

1. If you have a network deliverable product paid for in a network based currency how the heck do government get their cut?
2. If I import product can I use BTC to part pay the shipment and reduce the USD amount being billed and thereby lower any tariff? In other words how can BTC and the like be used to end run trade restrictions?

I really don't know how long this will run before it is considered a problem... but I can see issues coming.
Sounds like between this post and the Wolf Street Report you posted maybe you are starting to see Bitcoin thru another lens?
 

Zed

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Sounds like between this post and the Wolf Street Report you posted maybe you are starting to see Bitcoin thru another lens?
I love the concept.

I'm iffy on the execution...

1. The power consumption is ridiculous for a payment system.
2. The hard limit on supply makes it only suitable as a reserve asset and hinders it's use as money. WAY to deflationary.
3. It has no real official relationship with sovereign currencies, a big grey area for me. Vulnerable to policy change.

I would like to see a crypto that has...

1. A light resource foot print.
2. A logical provision for expansion inline with economic growth. i.e. Stable purchasing power.
3. A formally defined relationship with sovereign currencies or indeed adoption as a sovereign currency.

Just for starters...

I also like the idea of smart contracts, Ethereum is interesting.
 

Zed

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Zed

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gnome

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The supply of Ethereum is not finite though is it? Look a lot of guys with wads of cash are buying this crap so I am along for the ride hoping to get out somewhere near the top. That's it. Only Bitcoin though but I know if you are very good and somewhat lucky you can turn some thousands into millions in $hitcoins. Not for me at this stage of life.
I'm not looking to build a bagholder crypto empire, mostly just selling put options on the volatility. Try to keep my exposure at about 10% of portfolio.
 

Zed

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I pity the average hard working stiff in this country. The whole damn world is upside down and the path of production is the least beneficial.
I woke up to it 20 years ago, they built an economy where working leaves you in second place.
 

Zed

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Zed

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louky

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Zed

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Learn?

How? You are not teaching, you just masturbate and take a victory lap! Never seen anyone do quite so much self quoting.

Try taking the hand out of the pants, getting involved and giving people some grounding in the why of it all. This sort of stuff is a little useless to people.
 

dpong

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10 year yield is persistent. Somewhat threatening.

aDRmeglZ.png
 

Lancers32

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Got it down to 47.4K. The hammer might be Saylor adds. Always lots of action in the Coins. :robber:Stable currency my ass. :oops: