Re: Bitcoin, crypto currencies, block chain

Guest · Post by **Guest** » Fri May 13, 2022 3:02 pm

There is a discussion of Microstrategy in the Bitcoin video starting here -- https://youtu.be/nhJA5Hzu0Qk?t=2469

When there is a futures market, governments and others can control markets to their liking and if they want to destroy Bitcoin, they can push it down during thin trading, trigger sell stops and margin calls.

Schiff is right about using Bitcoin to back other crypto. It's a good idea in theiry but it won't work so long as Bitcoin futures exist. And there are other reasons but just the existence of Bitcoin futures is sufficient.

Guest · Post by **Guest** » Fri May 13, 2022 6:04 pm

Jamie Dimon, CEO of JP Morgan bank, was a Baker Scholar at Harvard Business School, which means he graduated in the top 5% of the class.

This is what he had to say about Bitcoin a few years ago:

I could care less about bitcoin. I don’t know why I said anything about it. The blockchain is a technology which is a good technology. We actually use it. It will be useful in a lot of different things. God bless the blockchain. Cryptocurrencies, digital currencies, I think are also fine. JPMorgan moves $6 trillion around the world every day, and we don’t do it in cash, it’s done digitally. If it can be done digitally with the blockchain, so be it. But it will still be a dollar cryptocurrency. What I have an issue with is a non-fiat cryptocurrency. So crypto sterling, euro, yen, they are all fine. I don’t personally understand the value of something that has no actual value. You all can do whatever you want and I don’t care.

“I could care less what bitcoin trades for, how it trades, why it trades, who trades it. If you’re stupid enough to buy it, you’ll pay the price for it one day. I’ve also told people that it can trade at $100,000 before it trades to zero. Tulip bulbs traded for $75,000 or something like that.

He's had nothing more of substance to say about Bitcoin since.

"One day" may be now.

Guest · Post by **Guest** » Sat May 14, 2022 6:46 pm

Guest wrote: ↑
Fri May 13, 2022 9:54 am
Bitcoin Elliott Wave Analysis

Top at 69K
Wave 1 down to 30K
Wave 2 up to 48K
Wave 3 down has started. The trend is down.

Top Crypto Analyst Predicts Massive Price Dive for Cardano, Says One Solana-Based Altcoin Will ‘Go Down to the Basement’

Daily Hodl Staff
May 14, 2022

A widely followed crypto trader is predicting further corrective moves smart contract platform Cardano (ADA) and one of this year’s trending altcoins.

Pseudonymous crypto analyst Capo tells his 307,500 Twitter followers ADA is poised for another leg down before it completes its five-wave downtrend, based on the Elliott Wave theory.

Looking at Bitcoin (BTC), Capo says he expects BTC to continue correcting after breaching the key psychological support of $30,000.

“After the fifth touch of the $30,000 support, it broke it. Previous two-day candle closed below it, and now it’s testing that zone as support. In my opinion, this is not a good spot to buy. It hasn’t even reclaimed that level on a high timeframe close. $21,-$23,000 still in play.”

https://dailyhodl.com/2022/05/14/top-cr ... -basement/

Guest · Post by **Guest** » Mon May 16, 2022 2:08 pm

FTX's billionaire chief says bitcoin has no future as a payments network, Financial Times reports

Reuters
May 16, 2022
12:49 AM CDT

May 16 (Reuters) - Cryptocurrency exchange FTX's founder has said that bitcoin has no future as a payments network and criticized the digital currency for its inefficiency and high environmental costs, the Financial Times reported on Monday.

https://www.reuters.com/markets/currenc ... 022-05-16/

Cool Breeze · Post by **Cool Breeze** » Mon May 16, 2022 5:57 pm

Guest wrote: ↑
Mon May 16, 2022 2:08 pm

FTX's billionaire chief says bitcoin has no future as a payments network, Financial Times reports

Reuters
May 16, 2022
12:49 AM CDT

May 16 (Reuters) - Cryptocurrency exchange FTX's founder has said that bitcoin has no future as a payments network and criticized the digital currency for its inefficiency and high environmental costs, the Financial Times reported on Monday.
https://www.reuters.com/markets/currenc ... 022-05-16/

Fried, lol

Bankman-Fried also said he didn't believe bitcoin had to go as a cryptocurrency, and it may still have a future as "an asset, a commodity and a store of value" like gold, the report said.

You left that out. I wonder why.

Guest · Post by **Guest** » Mon May 16, 2022 7:59 pm

Ben Bernanke Says He Doesn't See Value in Bitcoin

The former Fed chairman says the crypto is too complicated to use as money

By Stephen Alpher
May 16, 2022 at 10:50 a.m. CDT
Updated May 16, 2022 at 10:59 a.m. CDT

Former U.S. Federal Reserve Chairman Ben Bernanke told CNBC on Monday that he doesn't believe bitcoin (BTC) works as money, a store of value or digital gold.

https://www.coindesk.com/business/2022/ ... n-bitcoin/

Guest · Post by **Guest** » Mon May 16, 2022 8:18 pm

Bitcoin at $18,278 is a critical number for MicroStrategy

MicroStrategy has taken on $2.36 billion in debt to buy Bitcoins, along with using over $300 million in cash it had on its balance sheet in June 2020 and the free cash flow it has generated since then. The total amount of money spent on 129,218 Bitcoins is $3.97 billion for an average price of $30,700.

While it would have to fall over $10,000 to reach $18,278, if it did the company’s Bitcoins would equal the debt. And if it were to fall lower, then MicroStrategy’s Bitcoins would be worth less than the debt.

https://www.forbes.com/sites/chuckjones ... osing-bet/

Guest · Post by **Guest** » Wed Jun 15, 2022 3:56 pm

Cool Breeze wrote: ↑
Thu May 12, 2022 9:54 am
There's a chance it goes to 23-24, but I bet it stays strong at 28k.

When are you going to admit that you don't know what you are doing?

Bitcoin was 20K this week.

Guest · Post by **Guest** » Wed Jun 15, 2022 6:25 pm

Bill Gates says crypto and NFTs are a sham

Jordan Valinsky
By Jordan Valinsky, CNN Business

Updated 5:44 PM ET, Wed June 15, 2022

New York (CNN Business)Don't count Bill Gates among the fans of cryptocurrencies and NFTs.

Those digital asset trends are "100% based on greater fool theory," the Microsoft co-founder said Tuesday at a TechCrunch conference, referencing the notion that investors can make money on worthless or overvalued assets as long as people are willing to bid them higher.

https://www.cnn.com/2022/06/15/tech/bil ... -comments/

Exactly. Billionaires know not to buy Bitcoin. As do us lesser fools.

Guest · Post by **Guest** » Wed Jun 15, 2022 6:44 pm

https://twitter.com/saylor/status/413478389329428480

Saylor said in 2013 when Bitcoin was less than $1,000 that:

Michael Saylor

#Bitcoin days are numbered. It seems like just a matter of time before it suffers the same fate as online gambling.

7:18 PM · Dec 18, 2013·Twitter for iPad

He was right!

Now he's a blubbering old fish holding (or should I say HODLING) Bitcoin from over $30,000 with a loss of $1 BILLION dollars!

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