Bitcoin bulls who conveniently ignore tether, but attack Fed are my favorite logic leapers on the planet.




Just cant make this stuff up LOL, clown after clown.

HouseNuts is a very emotional bull. If I met him in person I could make him cry by bashing his Pony.

shuffle you think the USA is collapsing too. Right?

So basically everything is crashing. Its almost as if the sky is falling perpetually in your world

housenuts is opposite of an emotional bull. He Hodls and then he hodls some more while laughing at all the silly nocoiners citing the 500th death of btc.

There are 3 types in this thread:

SUPER BEAR = "I have modeled the future structure of society and know that BTC will go to 0"

SUPER BULL = "I have modeled the future structure of society and know that BTC will go to the moon"

PONZI WAVER = "The supply of BTC is relatively fixed, therefore USD flows determine the price"

If you look close, SUPER BEAR and SUPER BULL are *exactly the same*, they just can't see it. Their thoughts must follow the same pattern:

> Price Crashes. BEAR "haha I was right my reasoning is pure" BULL "just wait"
> Price Pumps. BULL "haha I was right, my reasoning is pure" BEAR "just wait"

Laughing? That's why he was campaigning for Mods to ban me, then told everyone to block me, then told them that if they quote me he will block them, that sure sounds like a guy laughing LOL.

I scare the **** out of him, cognitive dissonance is strong in HouseofCards.

It's clear to me Tether / Bitfinex are run by conmen, and at the very least Tether is not close to fully collateralized. What's not clear to me is when this Tether house of cards falls and the impact this fall will have on BTC.

I'm a Boglehead when it comes to equities because I don't put in the time or perhaps lack the intelligence to discover market inefficiencies. I think the same logic applies to this BTC / tether relationship. It's unlikely I'm able to make a timely prediction and profit from Tether's impending failure.

I invested in BTC for the first time last November for a number of reasons. All of those reasons still have merit today. I think I'm going to hodl and stop looking at the ****ing price every few hours. At least the markets close for the weekend.

No excuses please, that's what I said from the beginning, when I joined here. I don't want any excuses. I focused on the theory, they focused on the number.

you forgot type number 4

Know it all TA guy who hasn't out preformed the hodlers. Who might not even trade btc profitiably

So now you're projecting for him.... this coming from the guy who claimed hyper inflation is imminent, sold his bitcoin claims he going to long SLV, then rebuys his bitcoin 3 or 4 days later at a higher price and it sits lower than when you rebought.....

Who is unstable? Who is the delusionist?

My bet is on the Pony riders

If this is news to you welcome to the financial markets I guess.

If I buy a non yielding asset, in order to make a profit, I need to sell it to someone at a higher price. Bitcoin is no different to many assets in this regard

The funny thing about all this tether fear is
if it’s proven that it’s fine (which I feel like most people just assume they are fraudulent and don’t give enough credence that it very well might be on the up and up), the price is going to skyrocket with all the weak hands on the sidelines.

This isn’t talked about enough IMO

Acutally F this, done trying to help people who are in the (uninformed market participant / non participant) x (closed-minded) group.

On the Tether note, this thread is a good/moderate take that I agree with.

You have a knack for taking what I said and changing it ( to fit your narrative AS ALMOST ALL Bitcoin Pony riders do), this is the 3rd time. Where did I say 5% sell it go to 0..... nowhere LOL. I was talking about the paper gains quickly going away which would happen. What % of Hodlers do you think own most of there bitcoin purchases below 2k? I was pointing out that the guy who thought everyone had real gains in bitcoin, if everyone wanted to realize those gains not all would be able too, so how exactly am I wrong to say it's paper profits LOL. It's like I been saying since day 1. You guys suck at this, you ain't fair and balanced. You guys are clueless clowns.

I would expect more from someone as respected as you, I suppose you think you can just do what you want LOL. You're a joke in my book. 3 times jesus christ pathetic

Ha and he just deleted it LOL. It's the cognitive dissonance they all have that makes them behave in such a way. High level poker players not immune.

Another one bites the dust. Like I been saying clown after clown.

As for your friend, if you're out there PM me dude. I can breakdown the lies about bitcoin. Show you how it isn't trustless, how it stores nothing but hopes and dreams but most importantly the lesson it will eventually teach.


Acutally F this, done trying to help people who are in the (uninformed market participant / non participant) x (closed-minded) group.

On the Tether note, this thread is a good/moderate take that I agree with.

[/QUOTE]

Do not forget compadre, I was a Gold Bull to Crypto Bull back To Gold Bull. I'm not close minded or uninformed.

2shae/Kazuya with the exact same emotional responses

"you guys should bow to my amazing insight, now, being mocked, I will leave and tell everyone how much worse off they will be without me"
"everyone is closed minded but me, the smart bull"


Please attempt to follow the conversation

Had to search some Kazuya post before my time, seems accurate.

Care to share your roll in this thread?

It is a shame I didn't quote the entire thing 2shae wrote, only took the bottom half, it's gone forever.

It's fairly simple to deduce the reason and methodology of tether, and why it's such a huge systematic threat.

1) Someone acquires $1000 bitcoin at any one of the exchanges that is actually banked (Kraken, Coinbase, etc) or bitfinex itself
2) They move this bitcoin to bitfinex and sell it to buy other crypto or engage in derivatives
3) Bitfinex issues $1000 in tether, and buys the $1000 in bitcoin
4) Tether is now fully 'backed' because they hold $1000 in bitcoin
5) This one transaction represents two purchases of bitcoin and one purchase of alt-coins (if the tether is exchanged into alt-coins), when really it's only one purchase (since tether is just a liquidity instrument, not worth anything) of bitcoin and one exchange.
6) Multiplied by hundreds or thousands of times, this causes bitcoin's price to rise.
7) Bitfinex now holds $1000 * (1+P) bitcoin.
8) They cash out the $1000 on a different exchange, realizing a profit on the exchange. Tether is now fully backed by cash and bitfinex takes the 'profit.'
9) This represents a third purchase of bitcoin, when really it's only one purchase and one exchange for other crypto by the primary party
10) Multiplied by thousands of iterations, the price goes up once again.
11) Rinse, repeat

I'm not a bull or emotional. I trade. I am cold, realistic. Made generational wealth at this. Much of what I do has nothing to do with market beta.

You may think I'm a lucky idiot. That's fine. That's what this forum said 12 years ago too when I was just getting started at poker. A decade went by, they all faded into irrelevance, and I was still crushing nosebleeds... go figure

There is just so much delusion and emotionally attached takes itt as well as financial illiterates, just like there was in 2017. Not trying to be a dick but I am much more informed about this market than those of you who don't participate/barely participate. Try to focus on facts rather than feelings. It is tiresome refuting morons who think they've cracked the code "TeThEr Is FrAuD bEcAuSe ThEy AlWaYs MiNt RoUnD nUmBeRs!!1!" or "AlL tHe BeSt TrAdErS uSe TA!!1!" or "ItS aLl PaPeR gAiNs". Saying things like this is the surest way to convey to informed market participants that you have no **** idea what you are talking about. You're the same guys you meet at casinos who claim no one can beat online because it's rigged, people cheat, and they lost 3x in a row with AA. When the market eventually tops, you'll all be Monday morning quarterbacking, having seen it all coming but made no money via shorting.

Regardless of your opinion on BTC, you'd have to be blind to not see what has been happening with DeFi (overwhelmingly built on top of ethereum). There is over $23B locked in smart contracts and there's an entire KYC-less composable financial internet functioning TODAY. If you've never used Uniswap or Compound protocols, I highly recommend learning about them (this is not an endorsement of their tokens).

you have no clue what you are talking about... anyone can stop reading at (3)

It's a simplified example....

What actually happens is tether is issued in nearly perfect round numbers of 200 million (or multiples of such), and rarely removed from circulation even when sell pressure is enormous enough to drive the price of bitcoin down 85%. I don't know why they even bother attempting to make the numbers appear demand driven (ex: 199546223) when it's clear they are issuing it out of thin air.

That said, there is no doubt whatsoever that tether, which is a liquidity instrument, is also acting as a price driver and that bitcoin is overvalued as a result.

DogeCoin has a market cap of 1.2 billion dollars. If you think that's legitimate, you're an idiot.

Again, a lot wrong here.

First, Tether only gets removed from circulation when people redeem USDT for actual dollars. Even then it doesn't need to be removed from circulation; it can simply be reissued to the next group of people who trade fiat for USDT.

On that note, that is why they issue in round numbers like 200MM; the tethers are just "on deck" for the next people who want them-- they are unissued. They become issued again when someone trades fiat for them. The reason tether supply doesn't really go down is simple-- there is massive demand for tether, especially from China (a way around strict capital controls) and Asia as a whole. $20B in tether is cosmic dust in the context of the TAM. Who knew, regulatory arbitrage is a thing. People want to be able to move ~stable valued currency as they please without their government intervening.

There is a lot of doubt. For one, do you think the institutions and large companies like Square, Stone Ridge, and Mass Mutual are somehow missing this while you've figured it out with certainty? Or did some asset managers just decide to be complicit in the scam because it will add a little bit to their existing, unrelated business?

There is a lot of dogshit like dogecoin that is "overvalued". Markets are not perfectly efficient. Crypto markets are even less so. Even NKLA under massive spotlight and highly-regulated markets traded at $80 ($30B cap) this summer!!

As an extreme example, I could create a coin $2SHAE, issue 100% of it to myself (100MM tokens), and then trade 1 token to myself for 10 USDC on Uniswap. $2SHAE market cap is $1B. What does it do? Absolutely nothing. A lot of crypto projects are like that. They have large amounts of tokens that are either unissued or are owned by founders/insiders with far too much to sell without obliterating the price. They don't trade a lot of [real] volume; they can't be shorted (or it's very expensive to short them) and there is no real price discovery process. Markets don't necessarily trend towards some "equilibrium value", even if they are healthy (reasonably shortable). At the end of the day it's like a parimutuel game between all market participants. BTC and ETH on the other hand have traded massive amounts of real volume, have improved distribution over time (when adjusting for exchange wallets, Gini isn't nearly as bad). Outside of Satoshi's coins which have never moved, I think Chamath may be the largest (or close to) individual holder. He once had about 5% of all coins but today has something like 200-300k; which means he sold 700-800k BTC during a period when the price went from $80 to $42k... and he did it without sending BTC to zero! (this info is pieced together from public interviews / comments of his)

If you think that the fraudsters over at Tether are making fake money to prop up dogecoin then idk what else to tell you.

Condescending prick!

Owhh look at me, I'm the enlightened 1, the chosen 1, I'm right, I'm here to help the uninformed....

How the hell you know with such conviction you are right and people with opposing views are wrong?

100% conviction doesn't exist in the markets. Charlatan!

half of the things in this thread lately are people telling me "potato" is spelled "patateo" and then calling me condescending for trying to explain it to you

There are times when I will say things I think are true (like that TVL in DeFi on Ethereum will continue to increase), and others when I'll say things I know with certainty are true (specifics about market structure of markets I actually trade size in). When it's one of the latter and you insist on disagreeing with and even mocking me, all I have to say is: I tried to help. Have fun staying wrong.

This was a good post. Two shae also crushing ofc.

Looks like our charlatan went from TA is hogwash to change his tune to only all the best traders use TA.

Basically suddenly admitting that TA does work for some.

Charlatan, hopefully you'll stfu and leave!

You don't even know if bitcoins price is going up or down but I'm suppose to believe you are a winning trader lol, who doesn't use TA....rofllll.... What you do you use astrology?

The level of stupidity in that post, with your dumb 1% figure and so every person who uses TA should be a zillionaire.

That goes the same for anything you are using to trade which is obv technical analysis.

Also not everybody succeeds who uses TA.