[TOO LATE?] It's worse than wash trading. Ponzi collapse!
מעודכן
This is terrible, it is so bad... No one can say they did not have a fair amount of warning. People have been presenting solid evidence for years now.
All these people waiting in starting blocks, afraid to miss out. The problem is not not being fast enough and missing out while you were not looking, it is opening your eyes and not being delusional. Every time, bull or bear, people have YEARS to get it in their heads.
Let's look at what is going on with Tether & Bitfinex, as well as what has happened in the past with shady exchanges...
But first, I was told I was too harsh and "kicked people when they are down" (who? criminals? Ye sure but I'll let judges do the kicking rather) which is a "rotten thing to do" (heard this plenty of times) so here are a few things to cheer people up (I might not be 100% honest in these quotes):
- Everything will be allright, now now.
- The weak hands but the noise hodl.
- I am very bullish on Bitcoin long term.
- Short the banks long Bitcoin.
- That's what they said last time.
Quadriga CX Timeline
MtGox Timeline
Trans-Fee exchanges Timeline
Bitfinex Timeline
Little bonus :)
I forgot what is was sorry :(
When MtGox happened it was still early in the bear market.
By the way fun facts, Bitfinex holds hundreds of thousands of Bitcoin. Fun fact, trans-fee exchanges hold hundreds of thousands of Bitcoin. Fun fact underwater miners too. Fun fact the total is in the millions :)
I wonder what could go wrong :}
Willy Bot: During his trial, Karpeles admitted the existence of a “Willy Bot”, which was a trading bot that he said was built to stabilize the market. As it turned out, the Willy Bot may have been responsible for artificially increasing the bitcoin price, as it’s trading limits were beyond the scope of normal transaction volume in Bitcoin at the time.
Who knows what we will find out about not-available-to-US-citizens Bitfinex in the next few years?
When MtGox news hit Bitcoin price went up, BUT that was after it went down 50% on rumors. Oh ye and of course it dropped another 75% afterwards, from 700$ to 160.
Say Bitcoin makes it to 6300$. A 50% drop then would bring BTC price to $3150, right on that year low. Then it retraces like in 2014, up to $5500. Then down 75% so down to $1400.
Of course, we are not in 2014, but this is all crypto "believers" understand so I want to understand what they are thinking. $1400 seems reasonable.
Now, 2018 has been worse than 2014, so we could assume the drop would be worse. MtGox only lost 800k Bitcoin and they did not all get sold.
Now there are so much more scammy people involved. Quadriga co-founder was a criminal hello? He sold in 2018 during "the bottom". He stole that Bitcoin and does NOT CARE if it goes up or down. DECENTRALIZED TRANS-FEE EXCHANGES are you serious? How can anyone fall for this. There is no such thing as 100% people say, but it is not always true. Here we have an exception I can guarentee with 100% certainty it's a ponzi and people are running away with their clients money.
Order books are not going to just absorb hundreds of thousands of Bitcoins.
There are so many people that are going to laugh about this. Look at Bitconnect... All the Carlos Matos videos and memes.
Crypto investors thought they would be the ones to laugh. They won't be the majority when it all collapses.
I really enjoyed the Carlos Matos period. Was very funny. I am sure this will be even greater.
There is no way Bitcoin only falls to 1k. 2 digits is not out of the question...
* If Bitcoin prints a top at $6300 I need a cheap/easy way to short it. Or maybe I'm better off waiting for denial to end and things to move faster. Maybe.
Ye vulture style. Let's wait for things to get bad. Maybe long only is better. Rallies in bear markets are very strong and very fast.
I am going to make an idea about the 4 different market conditions so stay tuned.
By the way on the CME Bitcoin volatility is capped at 20% a day and market makers are obligated to do their job. I think there is no unlimited risk for that reason. I think we should short on the CME.
All these people waiting in starting blocks, afraid to miss out. The problem is not not being fast enough and missing out while you were not looking, it is opening your eyes and not being delusional. Every time, bull or bear, people have YEARS to get it in their heads.
Let's look at what is going on with Tether & Bitfinex, as well as what has happened in the past with shady exchanges...
But first, I was told I was too harsh and "kicked people when they are down" (who? criminals? Ye sure but I'll let judges do the kicking rather) which is a "rotten thing to do" (heard this plenty of times) so here are a few things to cheer people up (I might not be 100% honest in these quotes):
- Everything will be allright, now now.
- The weak hands but the noise hodl.
- I am very bullish on Bitcoin long term.
- Short the banks long Bitcoin.
- That's what they said last time.
Quadriga CX Timeline
MtGox Timeline
Trans-Fee exchanges Timeline
Bitfinex Timeline
Little bonus :)
I forgot what is was sorry :(
When MtGox happened it was still early in the bear market.
By the way fun facts, Bitfinex holds hundreds of thousands of Bitcoin. Fun fact, trans-fee exchanges hold hundreds of thousands of Bitcoin. Fun fact underwater miners too. Fun fact the total is in the millions :)
I wonder what could go wrong :}
Willy Bot: During his trial, Karpeles admitted the existence of a “Willy Bot”, which was a trading bot that he said was built to stabilize the market. As it turned out, the Willy Bot may have been responsible for artificially increasing the bitcoin price, as it’s trading limits were beyond the scope of normal transaction volume in Bitcoin at the time.
Who knows what we will find out about not-available-to-US-citizens Bitfinex in the next few years?
When MtGox news hit Bitcoin price went up, BUT that was after it went down 50% on rumors. Oh ye and of course it dropped another 75% afterwards, from 700$ to 160.
Say Bitcoin makes it to 6300$. A 50% drop then would bring BTC price to $3150, right on that year low. Then it retraces like in 2014, up to $5500. Then down 75% so down to $1400.
Of course, we are not in 2014, but this is all crypto "believers" understand so I want to understand what they are thinking. $1400 seems reasonable.
Now, 2018 has been worse than 2014, so we could assume the drop would be worse. MtGox only lost 800k Bitcoin and they did not all get sold.
Now there are so much more scammy people involved. Quadriga co-founder was a criminal hello? He sold in 2018 during "the bottom". He stole that Bitcoin and does NOT CARE if it goes up or down. DECENTRALIZED TRANS-FEE EXCHANGES are you serious? How can anyone fall for this. There is no such thing as 100% people say, but it is not always true. Here we have an exception I can guarentee with 100% certainty it's a ponzi and people are running away with their clients money.
Order books are not going to just absorb hundreds of thousands of Bitcoins.
There are so many people that are going to laugh about this. Look at Bitconnect... All the Carlos Matos videos and memes.
Crypto investors thought they would be the ones to laugh. They won't be the majority when it all collapses.
I really enjoyed the Carlos Matos period. Was very funny. I am sure this will be even greater.
There is no way Bitcoin only falls to 1k. 2 digits is not out of the question...
* If Bitcoin prints a top at $6300 I need a cheap/easy way to short it. Or maybe I'm better off waiting for denial to end and things to move faster. Maybe.
Ye vulture style. Let's wait for things to get bad. Maybe long only is better. Rallies in bear markets are very strong and very fast.
I am going to make an idea about the 4 different market conditions so stay tuned.
By the way on the CME Bitcoin volatility is capped at 20% a day and market makers are obligated to do their job. I think there is no unlimited risk for that reason. I think we should short on the CME.
הערה
I hope I am not spamming.I made a mistake in my post.
Wave C is not going to $1000 according to EW and market cycle analysis that was wrong.
Need to correct it.
It's going to 300, this makes much more sense.
Might as well expand further:
"Last time the bears said"
הערה
Bitfinex'ed has a youtube channel and he posted an interesting video showing the questionnable history of Bitfinex and Tether.It starts from when bfx founder was trying to start a ponzi in 2012 - promising 2% a week with no risk - 1 month before launching the exchange wink wink (with his 2% a week he should be the richest man in the world now right?) to the recent news.
Some really interesting parts such as the evidence that was presented showing that Tether was used to pump Bitcoin price for years.
I noticed people are arguing about crypto fundamentals or telling me I am wrong about Bitcoin. I have not criticized Bitcoin itself once in this idea.
The issue is not Bitcoin itself it is wash trading exchanges and Tether.
I can't possibly make this more clear.
Now, remember the Madoff ran his ponzi - the biggest ponzi of all times - for over 20 years. And when in 1999 a financial analyst showed UNDENIABLE MATHEMATICAL EVIDENCE Bernard Ponzi was lying and numbers did not add up, investors and the SEC ignored him. He kept trying they kept ignoring him. Madoff kept running his ponzi for 9 years!
Bitfinex has existed and been questionnable for 'only' 6-7 years.
The difference thought is the USA are onto them. They got a subpoena, their answer was withdrawing from the US (something someone innocent would do right?), they are getting sued too. I do not think the FBI/or other agencies just let go of them. They did go after BTC-E CEO after all.
Party's soon over imo. I would not be surprised if they ended up in Guantanamo getting their teeth pulled out until they gave away their keys.
There has been more rumor recently, but I ignore it unless I get evidence. Something few seem to care about.
Funding is huge, desperate people could print as much fake money as they want - justice is slow they'll act way after we get liquidated - selling until now has been slow most of the time, and funding is huge, so I will NOT be shorting. There is much more to making money than knowing what direction something is going... (Just like there is more to making money that spotting a successful company).
As short term traders, the most awesome thing to do in a bear market - especially crypto, is buying bottoms. Do not catch the falling knife they say, sure but:
+ In bear markets rallies are brutal: very big %
+ In bear markets rallies are brutal: very fast
+ Risk is limited price cannot fall below 0
+ Crypto keeps having these pumps after dead periods. I saw the last one coming like 1 day before, and the one before that, and the one before. It's easy.
+ That one is a secret ;)
+ Conflict of interest... CEO of Binance Tether and Bitmex have very clearly showed their support for crypto and especially Bitcoin... "Funds are safe" as I like to call him even was celebrating and mocking bears when Bitcoin got pump-er I mean made a legit bull break the 1rst April.
Other than that there is just too much bad news at the moment.
A cryptocurrency laundering place has been raided, some Bitcoin company security trading was halted by the SEC, more Bitfinex news, etc... Too much don't even want to look into it right now.
In this ponzi only interesting thing really is staying away most of the time, and perhaps jumping in when the price is about to rally. If it wasn't predictable I wouldn't have seen it coming so often. I don't think I was just lucky several times. Just make sure you get out before the rest.
הערה
Raphy (Bitfinex founder) has stayed away from bitcointalk.org since december 2017.I guess his lawyers told him that was the best? And unlike Elon Musk he listened.
Ah, of course he removed the part where he told everyone his name (before he made bitfinex and anyone knew who he was), he deleted every post about his ponzi Unclescrooge 1-week deposit program at 2%/week,
BUT he could not delete the thread HAHA. So basically you see his account start a thread with no message, but you can still see some of what he said in people quotes. Anyway, there's screenshot of it all, the internet never forgets.
Also, on his linkedin, he has distanced himself from Bitfinex. According to his linkedin he quit finex in May 2015 (Tether began being traded on bitfinex in 2015), and since then has been "self-employed" and nothing but a mere investor in bitfinex.
"After a successful launch of Bitfinex, I continued to work as a developer for the platform as well as other clients until the beginning of 2017, then onto some personal projects."
Remember:
Nov 2017 Bitfinex runs away from the USA. They won't service US residents.
Jan 2018 U.S. Regulators Subpoena Crypto Exchange Bitfinex, Tether.
Jun 2018 Phil Potter resigns from Bitfinex “As Bitfinex pivots away from the U.S., I felt that, as a U.S. person, it was time for me to rethink my position as a member of the executive team,”
April 2019 Tether gets sued, exchanges get leaked. The CEO admits that funds have been frozen
- Somewhere in between raphy has erased every trace that incriminated him and distanced himself as much as possible from Bitfinex "I was just a developer working on the technical aspects" I cracked up when I read this. Poor Raphy, didn't his lawyers tell him? In french law screenshots from the internet can be used as proof... (he is from Lyon, France) Maybe he is going to try his luck with another country's law thought, except the only law that matters will be guantanamo law.
What a humble man, usually people try to make it look like they run the show and exagerate their involvement, but Raphel, no he is not one of those, all he did for Bitfinex was help them debug the platform code. Did I tell you he learned alot about Ruby on Rails while helping Bitfinex? Poor Raphy, he was just a little guy helping out the big boys.
"I was just a coder" - Raphael Nicolle
הערה
Another cold fact for crypto bulls to argue about:2019-04-26: 17,253.5 Bitcoin withdrew from Bitfinex cold wallet
2019-04-29: 12,879.69 Bitcoin withdrew from Bitfinex cold wallet
Last time they withdrew so much was in september 2018 and then some more in mid to late october.
There are so much more withdrawals than deposits.
The wallet size keeps going down. Volume and price went up.
Bitfinex cold wallet is not longer the biggest one it's only at rank 5 now.
WWWWWOOOOW BINANCE TOO!!! Lol nice, 21k was withdrawn from Binance.
Legal regulation compliant exchanges working with the USA Bitstamp and Kraken had 0 withdrawals in the past month or two.
I am looking for trans fee exchanges cold wallets. People are telling us that coinbene got 100 million "hacked" 30 days ago but explain that it is not possible and they must have sold it themselves BUT they are not giving me the cold wallet address geez is is that hard? Will check and update.
By the way, if you argue that the blockchain is flawed and these withdrawals are not real, then it undermines crypto as a whole.
הערה
It just keeps getting better and better.Guess how Tether/Bitfinex is filling the hole?
Hah! Easy, they created shares and gave them to Tether as collateral.
Or in other words, created more imaginary magical money to fill the gap created by the magical imaginary money they used to fill the gap created by 850 million being seized due to them and their partners being criminals printing imaginary money and other things yay!
How further can they take it this is the question?
And they complain about government FIAT LOL.
I am actually curious what they could invent next gap? An ICO to pay for the gap created by the magical imaginary money used to pay for the gap created by the magical imaginary money used to pay for the gap created by the magical imaginary money used to pay for the gap created by the magical imaginary money used to pay for the gap created by the magical imaginary money used to pay for the gap created by the magical imaginary money used to pay?
Haha this sitcom is too good :D
To be honest they'll probably all be on the run or behind bars before too long so it won't get to that point :p
הערה
Tether and Bitfinex representative just answered the court.Tether is only backed at 74% by cash and "short term securities" (I'll let you guess what this means), and are whining that the USA have no juridiction over them.
They have the strongest military in the world. The strongest air force, and know what the second most powerful air force in the world is? The US NAVY trollface.
The USA have juridiction every where.
No one that can and isn't an ally will harbor criminals threatening democracy.
Told you so.
"What the bears say about Tether is just FUD"
Now we have:
- Common sense telling us it is a scam
- Evidence
- A confession
Just FUD hey? Tether is obviously backed hey? Where are you now?
Pfff was so obvious Tether wasn't backed. "Um ye doing an audit is very complicated". HAHA all these crypto bulls that thought it was FUD actually fell for that?
Shaking my head...
הערה
Ok soon I will stop updating this when huge news hit because huge news keeps hitting. There is so much going on I can't keep up anymore.I try to filter the info and make something digestible for trading view but still there is a huge text wall. Doing what I can XD
You thought China FUD was bad? HAHAHAHA try USA FUD.
Once they decide they had enough they will CRASH IT TO THE GROUND.
ZERO. Literal 0. Not 2 digits. Non existant Bitcoin.
We haven't gotten to that point. What we have gotten into thought is a major crackdown.
AGAIN, some more criminals are being targetted.
"The U.S. Department of Justice announced Tuesday that it has hit two individuals with bank fraud charges in connection to a system for depositing funds to cryptocurrency exchanges.
In a statement, U.S. Attorney’s Office for the Southern District of New York alleged that Reginald Fowler of Arizona and Ravid Yosef, said to live in Tel Aviv, Israel, were part of a scheme that involved using bank accounts to move money into a series of unnamed cryptocurrency exchanges.
...
That firm was previously identified as doing business with crypto exchange Bitfinex, which is being investigated by the New York Attorney General’s Office in a development that last week spilled into public view, in October.
“Reginald Fowler and Ravid Yosef allegedly ran a shadow bank that processed hundreds of millions of dollars of unregulated transactions on behalf of numerous cryptocurrency exchanges,” U.S. Attorney Geoffrey Berman said in a statement. “Their organization allegedly skirted the anti-money laundering safeguards required of licensed institutions that ensure the U.S. financial system is not used for criminal purposes, and did so through lies and deceit.”
"
Some exchange in europe got closed and the CEO locked up I heard too. I can't even keep up anymore. BLITZKRIEG! They are attacking all fronts at once and overwhelming every one.
Isn't the FBI the biggest Bitcoin holder already? They're about to get much bigger lol.
Ok so about PonziFinex. Raphael and Phil ran away from it, the last guy left Giancarlo Devasini I will assume - this is speculation - is the craziest guy, and he is the one left... alone.
I would not be surprised if he suddenly printed 100 trillion Tether, pumped Bitcoin price to 100 million, emptied Bitfinex wallet (well he already started), and ran away to some island :)
I never felt better about being a honest, fair, law-abiding and never lie than today.
I might get alot of hate from crypto bulls for not lying to them, and I miss out on making alot of money scamming people, but I sleep sound at night and do not have to worry about being kidnapped by men in black in the middle of the night. Aaaah. I wonder how Raphy is sleeping? :)
Sorry for all the text. Just so much going on.
הערה
40,000 Bitcoins were just moved from an unknown wallet. Aïe Aïe Aïe.bc1q9sh6544xls87x7skjzyfhkty4wq7z76vn7qzq9
1,000,000,000 #XRP (308,891,433 USD) unlocked from escrow at Ripple Escrow wallet (Ripple bosses cashing out a bit more? I wonder why Ripple has stayed down when other alts were rallying. Who knows?)
rDdXiA3M4mYTQ4cFpWkVXfc2UaAXCFWeCK
Tether is like half a ponzi. You can't get your $ back but you can get your ₿ out (30k withdrawn from Bitfinex & 20k from Binance).
So perhaps the same thing that happened with MtGox happens, it just will have less impact I assume.
People buy Bitcoins, price pumps, then they sell, it dumps.
Would have less impact, but at least enough to go up close to 6000 and then down to 4500 or something. Or we can just go down without making it to 6k. Or we can see 3000000000 Trillion Tether just pop out and Bitcoin never stop going up. This might mean zero thought. Every action has an opposite reaction. No matter how strong you believe in a number in a database, it won't change the laws of the universe.
Other news, india wants to ban crypto.
The news is getting bad (wave C), the US are cracking down on all the crooks, and as usual, the rest of the world will follow. Expect several countries to ban crypto entirely, starting with India maybe. Expect more $ and ₿ to get seized, and expect more people to sell, a little of something is better than all of nothing.
As long as the USA do not ban crypto (who can do this? Trump? He wants to get re-elected thought) we good. Go 3 digits but not lower.
If crypto gets banned by the US well emmm in practice we can say it's zero then.
Not saying this is likely, just a risk.
הערה
I was looking at Jaguar Land Rover for my Tesla idea and they are interesting in designing a system that pays drivers in crypto - Iota - for spotting congestion points (which will make driving more efficient and generate yet less CO2 and save their clients time & money).I have a hunch the more complicated part will be the legal & accounting part.
Interesting. The serious company choose a crypto that is cheap scales rather than the overhyped ponzi that does not work and is full of bugs and criminals.
I am seeing a pattern. Every one that actually wants to use a crypto looks for one that actually works and doesn't cost an arm and doesn't require a chinese giga power plant to run at full capacity for 1 hour just for 1 transaction and preferably without 10 dudes that own 40% of the supply and with a company or ngo behind it, not just random people.
Oh by the way, the botnet attacking Electrum has grown to 152,000 infected computers and has now stolen $4.6 million in cryptocurrencies such as Bitcoin, according to Malwarebytes.
Ripple, which continues to dump their scam on fools "it's perfectly normal they do this every month", has announced yet another shady partnership that they paid for to pump the price and dump their coins once again, and then use part of the profit to pay for another fake partnership.
As usual mentally challenged crypto fans are defending Bitfinex - absolutely amazing - with exceptional arguments such as:
- So what? They're no special case, other exchanges are as bad
- Why do you have crypto so much
- You are an idiot
- Do your own research
- This is wrong at so many levels
- You were wrong 6 months ago haha
- That's what they said last time
- How much did Jamie Dimon pay you?
Not a single fact, not a single argument. Only insults, personal attacks and "so what? others are as bad".
There are a ton of bullish news, but as usual, not a single factual one.
Only "prices could be going up" "investors are bullish" "In may prices will go up" and other vague made up crap to bait idiots and pump the price. The usual.
הערה
Oh happy day.Things are progressing.
The court is afraid the crook that ran a shadow bank for Tether might run away because he is facing up to thirty years jail haha.
They even found 14,000$ of counterfeit money in his appartment XD
I remember the good old days when people told me I was spreading FUD about Tether and me calling these people criminals was ridiculous and I was a complete idiot. I bet these geniusses would still argue with me today XD
My favorite kind are the totally relaxed ones that are so overconfident and 100% convinced they are right. 0 stress. Well that was 12 months ago, I think they are a little less chill now ^^
I hope they all end up behind bars where they belong.
According to certain crypto bulls, the risk of a bictoin bank run is "good news" because "risk is part of healthy markets".
Gosh, what a bunch of absolute morons.
הערה
Unsurprisingly Bitcoin is going up, with a premium of 350$ on Bitfinex.I said Bitcoin would go to at least 6300$ but not really sure anymore.
Doesn't really matter.
Just checked Raphael Nicolle linkedin. Once again, he has reduced his involvement with Bitfinex. Now he does not mention giving a hand in the 2015-2017 period. And his initial involvement is reduced, and he has 0 ties left with them.
I wonder why?
Even better:
It was disclosed that Reggie Fowler has a strong history of commiting or planning to commit crimes, in particular financial ones.
No one could have seen this coming. NO ONE.
It just keeps getting better and better.
I wonder what will come out of this.
I remember when Bitcoin super fans kept calling this FUD and nonsense.
They were 100% sure Tether was not a scam and saying criminals were involved was nonsense and trolling.
I think they enjoy being wrong.
Lmao maybe they heard "go against the majority" and they took it literally "oh this sounds like an extremely stupid thing to think and every one knows how obvious it is, I will go against the herd and think the opposite ooga booga".
Hey Bitcoin believer every one thinks you cannot breather deep under water wink wink.
Going to be a short soon.
Here are a few useless indicators not telling me anything I do not know already:
הערה
I remember when I was called an idiot for saying crypto was a ponzi (the dumb money that joined the party late will of course immediatly assume I mean the tech or Bitcoin itself not the community and the way it has gone).I remember when I was called an idiot for saying this ponzi was a cesspool of criminals terrorists money launderer.
Welp, guess what? It was just revealed Crypto Capital accounts were seized in Backpage sex-trafficking bust.
A HOST of crypto companies were used by CRIMINALS whose crime was selling 12 yo girls to fat bald men among others, to LAUNDER its dirty cash.
WOW, exactly as I said 1 year ago and kept repeating.
No one could have seen this coming, no one.
The USA are now cracking down on every one, they want to dismantle the whole crypto ponzi, every company involved as well as other criminals involved in other affairs.
And the funniest part, is crypto bulls, the dumb money that joined later, is totally ignoring these facts.
1 year ago they were saying it was not true and that is was Bitcoin would be abandonned and go to 0.
Let me repeat, I DID NOT SAY THIS. The crypto bull investors did.
So, now that we found out every thing I said was true, they should be abandonning Bitcoin since it is going to zero right? They said so themselves.
Nope, "it's just FUD fundamentals are great". Know how we call this? Denial.
I saw things... I even saw "Ah there is a risk of bank run, good, Bitcoin needed that, risk is a part of healthy markets".
What goes after denial is panic, and it will be biblical. I look forward to it will be amazing ^^
הערה
My last update was about crypto capital criminals.The investigation of ifinex bitfinex tether etc criminals made progress.
Exactly as I expected. You can find the documents on ny state court site. I provide links in twitter.
I will try to sum up the developments, at least the part i understand, and I am no lawyer so don't get mad if I call a crime something that is "not a crime but a felony" or something :p:
- Because the Bitfinex crooks were unable to find a single reputable bank in the ENTIRE WORLD (hahaha) that would work with them, they gave - GAVE - money to Crypto Capital (a fraudulent "company" as has been explained by the court and as I explained in a previous update). Knowingly working with a bunch of criminals is a crime.
- Despite the hundreds of millions of dollars it was handing over, Bitfinex never signed a contract or other agreement with Crypto Capital (another crime).
- In mid-to-late 2018, executives at Bitfinex/Tether began to suspect that Crypto Capital had lost, stolen, or absconded with the funds, and as of today, the companies have been unable to locate, much less recover, approximately $851 million dollars handed over to Crypto Capital. None of that had been disclosed to investors - they tried covering up the loss (yet another crime).
- In order to fill the gap, executives at Bitfinex, who also own and operate Tether (they lied about that too probably a crime), took hundreds of millions of dollars from Tether's cash reserves, and used the cash to prop up the Bitfinex trading platform (crime I think).
- They go further detail Bitfinex crimes about moving money from Tether to Bitfinex, not going to list it.
- Respondents fraudulently (the document uses that word) shifted most or all of Bitfinex's risk of loss of several hundred million dollars onto Tether's balance sheet, but continued to represent to the market that tethers were fully "backed" by U.S. dollars sitting safely in a bank account. They were not (AND AGAIN a crime they're trying to beat a record or something).
- Respondents then engaged in an undisclosed and conflicted transaction to give Bitfinex even more access to Tether's reserves, and did so in a way that hindered the OAG's investigation.
- Respondents told the OAG (Office of the Attorney General) that they were contemplating extending a "line of credit" on the Tether reserves to Bitfinex in the amount of $600 to $700 million, and that the transaction was imminent. Short version OAG asked for documents proving it, nothing was provided and months later ifinex ponzi club told the OAG the transaction was processed and every thing was fine (and actually expected them to fall for this? :D)
- In March 2019 they kept pulling hundreds of millions from Tether and never told anyone. This supposedly "arm's length" transaction is "secured" by shares in iFinex (i.e., Bitfinex), which there is little reason to believe have any real value, especially in the event that iFinex itself defaults." (As I said before, see? Justice agrees with me).
- "There are other facts that support the OAG's conclusion that Respondents have violated the Martin Act, and other New York laws"
Then they go on about the law and ifinex lies and how they kept contradicting themselves.
Ifinex latest prank, their 1 billion IEO (get some money from dumb investors to fill some gaps) is not mentionned. Imagine deciding to buy shares of a ponzi so they can replace money they threw away to wanted and known serial felons.
Kali muscle makes some funny and useful videos about how to eat and train in prison. I recommend ifinex executives start watching and start learning.
- The OAG also wants to shut down the fraud.
הערה
------------------- PonziFinex crew developmentsThe 5 May PonziFinex answered the NYAG (they published a motion to vacate):
1- "The court has no right to attack us because New York Attorney General (NYAG) does not even explain how Tether (USDT) qualifies as a security or a commodity covered by the Martin Act"
2- "We did not do fraud and no one got harmed and everything is fine"
A. The Attorney General Will Not Succeed on the Merits .............................. 8
B. There Is No Harm, Much Less Harm that Is Ongoing or Irreparable ....... 10
C. The Balance of the Equities Favors Bitfinex and Tether .......................... 11
==> So to sum up blatant lies, argue with everything even if it does not make sense, factless claims, absolute denial. They are not contradicting anything the NYAG said when she proved the commited fraud. Seems to be very common in the 2017+ bullish crypto investor community. Check my comments to see more of this.
3- iFinex argues that the injunction is “hugely disruptive” because it freezes in place over $2 billion of the Tether’s reserves and prohibits any investment of any kind “into the indefinite future.” iFinex says that the “massive regulatory overreach has no corresponding benefit” because there was no fraud and “much less harm that is either ongoing or irreparable.”.
==> Music to my ears. Would this mean the end of Tether pumps?
I don't think it was answered yet, but in a previous document (or a recent one I haven't seen yet?) they said this:
1- "The Bitfinex platform transacts in both securities and commodities (like bitcoin), and is of course at the core of the fraudulent conduct set forth in OAG's application.
2- Well they proved this ... clear undeniable fraud acts on several occasions. With proof. No idea why ifinex is arguing about that. It must be a virus, crypto "believers" always argue with everything including proven facts. Maybe it's some kind of Ebola that messes up your brain. I hope I am immune.
3- LOL. "Please sir don't send me to jail I have children it would hurt them". Absolutely ridiculous. "Let's bend the law because if applied it's really anoying"
ULTRA BONUS "Tether tokens are just one part of the alleged fraud".
Lmao the ny court scanned a wsj article that said bitcoin rally was bad news.
"The price of bitcoin hit a 2019 high on Friday, but the gain may be less about demand for bitcoin and more about problems at the embattled exchange Bitfinex."
EXACTLY WHAT I SAID :D
People are buying Bitcoins to get out! Only delusional bulls disagree!
------------------- Crypto capital fraud developments
Indictment against REGINALD FOWLER and RAVID YOSEF.
The have been found guilty of the following crimes:
COUNT ONE
(Conspiracy to Commit Bank Fraud)
COUNT TWO
(Bank Fraud)
COUNT THREE
(Conspiracy to Operate an Unlicensed Money Transmitting Business)
COUNT FOUR
(Operation of an Unlicensed Money Transmitting Business)
They have been sentenced to pretty much giving all of their money to the USA but... they aren't going to jail?
I don't know how this works, there is a crime part and a civil part or something? They will be sentenced to jail separately?
For some reason yesterday there is an evidence scan of btcrush ponzi shutdown order. They exit scammed last year right?
Just shows what they think of Tether ifinex and crypto capital lol. Using a ponzi cease and desist order as exhibit. I like how they think.
BITCOIN TRADING & CLOUD MINING LIMITED AKA BTCRUSH => EMERGENCY CEASE AND DESIST ORDER
And there are a few more scans of ponzi's getting shut down.
There is a court order about Rockview Apartment Corporation this has nothing to do with Bitcoin ponzi's. Is this a mistake or do they just dump everything in the same folder?
I heard there was something happening today, let's see.
It's like the Bogdanoff's had a little phonecall with the US department of justice.
הערה
Bitfinex: No one is willing to audit us because they don't want to damage their reputation by auditing us! Asymmetric risk!New York Attorney General: We'll audit you! For free!
Bitfinex: NOT LIKE THIS!
New York Attorney General: Send documents.
Bitfinex: NO GOD PLEASE NO!
Crypto pumping a little more. Of course, on Bitfinex there is a premium of 350$
Bitcoin JUST entered the supply area.
It might be early, but for me it is time to short. I even shorted at 5800.
I mean, Bitcoin has been overcutting again and again...
It could go higher but this is like a brick wall so it should be hard for it to simply go throught. I think the odds of just passing even the first fifth of that wall (6300) are very very low.
הערה
WOW.WOW.
Bitfinex is using its users personal information to open up bank accounts in their name without your knowledge. Some of them are now involved in a crime.
WOW.
WOW.
Good news thought, no one can take your Bitcoin from you, and all Bitfinex users have to do is patiently wait & HODL in jail while their Bitcoin goes to 50 million £ / unit.
You are the early adopters and will be rewarded immensly for "believing" in it definitely not just in the price going up.
(Over 90% of chinese has heard of crypto and 1/7 invested in Bitcoin, more than half of europe and north america has heard about Bitcoin)
I just hope other inmates do not hear about you possessing some Bitcoin, this could end very badly, ouch.
הערה
12 months ago: "This FUD about Tether is absolute nonsense and made up, people are really emotional and cannot ignore the news and noise. The banks get caught cheating all the time crypto protects us from this. Short the banks long Bitcoin."6 months ago: "Pfff so what Bitfinex is having some issues? It happens, every one can have some technical issues. The people in power won't touch crypto it is too profitable to them."
1 month ago: "Pfff this 'tether are criminals' talk is so greatly exagerated. So what they cheated a little? The banks do it too? It is perfectly normal we are not pretending people in crypto are better or protect us from this. The USA will do what? LOL you are seriously delusional if you think the USA will do anything"
2 weeks ago: "Pfff this is just FUD Bitfinex is only 1 player it won't impact Bitcoin. Do not listen to this nonsense FUD guys. Crypto capital is irrelevant. FUD FUD FUD."
Today: "Pfff so what crypto capital got convicted on 4 counts of fraud? The USA want to put their nose into every thing. The fact that USA citizen cannot freely use foreign company services, if they are not regulated in USA - is silly joke. People manipulate and exploit each other everywhere all the time, in crypto, in banks, in governments, in relationships .... deception and exploitation is unfortunately in our nature. The USA have no right to put their nose in our business."
In 12 months: "HOW COULD THEY LET THIS HAPPEN?"
הערה
Welp.Binance just got hacked.
Hackers have access to their hot wallets, possibly more.
7000 BTC got withdrawn already.
Withdrawals are shut down for one week.
No one could have seen this coming. No one.
הערה
7 PM GMT. Binance CEO tweets "Have to perform some unscheduled server maintenance that will impact deposits and withdrawals for a couple hours. No need to FUD. Funds are #safu."11 PM GMT. Binance announces a security breach.
"We have discovered a large scale security breach today, May 7, 2019 at 17:15:24. Hackers were able to obtain a large number of user API keys, 2FA codes, and potentially other info." (Before the CEO tweet).
"The hackers were able to withdraw 7000 BTC in this one transaction:"
"We must conduct a thorough security review. The security review will include all parts of our systems and data, which is large. We estimate this will take about ONE WEEK. We will post updates frequently as we progress.
Most importantly, deposits and withdrawals will need to REMAIN SUSPENDED during this period of time. We beg for your understanding in this difficult situation.
We will continue to enable trading, so that you may adjust your positions if you wish. Please also understand that the hackers may still control certain user accounts and may use those to influence prices in the meantime. We will monitor the situation closely. But we believe with withdrawals disabled, there isn’t much incentive for hackers to influence markets." (The hackers are too stupid to dump the price on binance while short on bitmex? Oh ok good to know. Or pump it if they can.)
This sounds awfully familiar. With all the hacks and guilty verdicts etc the price has not dropped. Shows how natural/rational this market is. "Buy when there is blood in the street" lmao. Someone explain to all these bottom chasers that if not a single person other that bottom knife catchers is interested in buying the price will not go up. It will just bottom and not go up.
I'll make sure to screenshot all of this in case certain people affiliated with a certain justice system need this. They won't need it, of course, but I prefer being safe. I want to do my part!
הערה
I thought Bitcoin would bottom and end end being adopted (I am not telling at what price, this should not be important since every one really loves Bitcoin and not the price action right).Seriously I don't know anymore. What is the point?
The code is awful, only a handful of people can use it or the entire system collapses (is this improving?).
Exchanges have decided to block deposits from the hack BTC address, not that they would have given their name and address lol.
They are probably money laundering anyway.
Some people have come forward and given the possibility of rolling back the transaction.
So here goes your "no one can take my Bitcoin".
And here goes your "decentralized" once again.
Archie was here first. Who even knows what Archie is now?
Lycos anyone? Anyone?
HAHA Altavista was valued 2.3 billion in 2000, and finally bought for 140 million in 2003, and where are they today? "It's just FUD buy cheap" they said in 2001 XD.
Story of Yahoo, the huge search engine that dwarfs anyone else:
It took nearly 20 years to fully grasp the amount of hype that went to their heads and how stupid their decisions were, but we got there.
Bitcoin mistake will not be obvious to the commoner right now, nor will it be in 3 years (probably). Going to take a decade, or two, or three (these people are pretty slow).
The first car company Benz, by the inventor of cars merged and became mercedes benz that is a subsidiary of Daimler AG that is still around and rather big. But Benz is a merged bought and even the parent of its parent is not the biggest one out there. So its still around like some search engines. But pretty far from being "THE ONE".
Same story of ISP's. Same story with phones. Remember Nokia bubble when they made their super phone? Was it in 1998? I learned this at school it was so long ago xd and the internet "forgot" this story, its so hard to find... Since it did not go up.
What else? Literally every invention. Even Fiat currencies failed, the one that is still around the british pound, it has been around for idk 300 years. It was number 10 or something idk. Not sure arbitrary value currencies can ever really succeed, but most people in crypto seem to think the cryptocurrency fiats can succeed so they believe in fiat obviously.
הערה
I like how things are turning. I am learning alot from market cycles.Today headlines are crispy.
Feb 2019: Mining Giant Bitmain posts $500 million loss in IPO financial filing
March 2019: Bitmain is planning to deploy 200,000 units of its own mining equipment in China to take advantage of cheap hydroelectric power this summer.
The equipment is conservatively estimated to cost $80 million, but it may be more profitable right now for Bitmain to mine crypto itself than try to sell all this inventory.
The move signals a broader shift in the market, with miners preparing to invest again following last year’s contraction in capacity.
May 2019: Bitmain’s Hashrate Noticeably Dropped in Past 30 Days. Now down 88%
08 May 2019: Investor Takes Legal Action Against $4 Billion Ponzi Scheme, OneCoin
08 May 2019: Tron Justin Sun Tries To Manipulate TRX Price With This Tweet, Price Pumps Immediately
08 May 2019: Tron discovers network weakness to DDoS attacks
07 May 2019: Tron Justin Sun apparently flexes on twitter about money laundering the stolen 7000 BTC.
I like today headlines. "Wave C is when the fundamentals turn very bad and when most retail investors that cannot afford to lose more end up selling".
Let's see how this ages.
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I did not want to be too harsh yet because people clearly are not ready for this...But things are accelerating...
Criminals being stopped, ifinex doing their last stands, anti crypto laws being prepared...
Scams everywhere...
As the denial bull run is about to end in euphoria (people are making calls for 5000$ ETH again...) I think the time is ripe to reveal... Bitcoin... ultimate fate...
Careful, this post contains something the bulls hate: solid facts.
הערה
Tesla exit pump still in progress.This was a typo. I will leave it here.
Ok other fraud, Tether Bitcoin.
Exit pump still in progress. Waiting for a top to form before shorting.
But might reverse in V shape, if such is the case nothing I can do, miss out.
Never going to enter blindly
So many bears that were "not missing out" have kept shorting this pump and lost everything they made while they "were not missing out" and I was, and more, because they kept shorting this pump. I made 200%, they made 15,000%.
And then I lost less than 0.5%, and they lost 99.95%. Who wins? You tell me.
And I can still short this scam when Bitcoin actually makes a top.
But they can't. Good luck making it back.
I told people this could endlessly pump and pump. Consider it can keep going to 50 million.
People laughed at me for shorting, and also laughed at me for saying it could keep going up. I am a fool for shorting at around 6000 when it was possibly reversing? I took a tiny loss, while Bitcoin bulls take 25% losses on a regular basis and average down on losers with borrowed money.
I was a fool for saying Bitcoin could get pumped more than you possibly could imagine?
Look at the bears now. Destroyed. Told you so. Cher.
So the win team of the justice system has made a few propositions:
They are not allowed to print fake tether, they are not allowed to send usdt to bitfinex, they are not allowed to loan fake money that was loaned (pretty much not allowed to make a ponzi but with new tech and call it something else), they are not allowed to destroy evidence.
They have denied their motions to vacate.
We will see what the judge will decide and what will happen with ponzifinex.
The ponzifinex premium is gone, now usd exchanges have a premium.
הערה
Still waiting for a sign the exit pump is over. Might short @ a little under 9k.(Bloomberg) -- Lost among the current bout of cryptocurrency euphoria is the fact that capital outflows are exceeding inflows on some of the biggest digital-asset exchanges.
While that may sound counter intuitive to the basic laws of supply and demand with prices of Bitcoin and other tokens surging, it’s not that rare an occurrence in a market that has been dogged by allegations of fraud and manipulation over its decade long existence. TokenAnalyst, a London-based provider of blockchain data, estimates that withdrawals from trading platforms including Bitfinex, BitMEX, Binance and Kraken have exceeded inflows by about $622 million over the past 5 days. Bitcoin’s more than 30% price rise since last week may have been exaggerated by capital flight from the controversial exchange Bitfinex and its affiliated stablecoin Tether in the wake of allegations that the companies that control both co-mingled client and corporate funds to hide losses.
As in past periods of turmoil, investors are seen seeking the safety of Bitcoin because it’s the largest and most liquid token. “Since Tether is insufficiently backed, it means that some of the reserves backing customer assets on exchanges are likely insufficient,” John Griffin, a finance professor at University of Texas at Austin who had examined cryptocurrency market manipulation, said in an email. “So smart customers will not custody their funds on exchanges and pull their crypto off exchanges. This could put further upward pressure on Bitcoin prices as one would rather take fake money and exchange it to Bitcoin.”
Data from TokenAnalyst shows that Bitfinex had net outflows of more than $1.7 billion of Bitcoin and Ether from the exchange since April 26, after New York’s attorney general alleged the companies engaged in a coverup. Bitfinex and Tether dispute the allegation and have classified the transfer of funds as a loan.
Remember Bitfinex premium?
הערה
16 May: The court sentences ifinex to several things, including stop using Tether to buy Bitcoin, let the ag look into their file, and not destroy any evidence.A few hours later Bitcoin prices drops $2000.
Well... on USD exchanges Bitcoin price drops to 6200-6600.
On Binance and Bitfinex, it remains above 7000.
Worry not citizen, all is good.
הערה
Craig Wright registered as Bitcoin whitepaper & code owner.BSV went up 200% in 1 hour as a result.
The Tether situation is worsening.
“Tether sounded to me like sort of the calm in the storm of cryptocurrency trading. And so if Tether is backed by bitcoin, how is that consistent?” ~ the very astute Judge
Bitcoin price action shows it may already have topped, or it could go up to around 9500, then crash and resume a bear market for the next years.
I feel I am going to really enjoy the month of June 2019 ^^
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100,000,000 Tether printed.Bull market ahead.
הערה
Banned by the court from printing Tether.Immediately go and print 100,000,000 "Ether" Tethers.
Giancarlo just does not care.
I can't wait to see the judge / AG reactions.
Giancarlo going to hold pockets soon, that or simply be on the run.
That any one would want to buy and hold at this point is really beyond me.
Just want to make sure I take some of their money on the way, they do not need it anyway.
Ponzi scheme.
הערה
It keeps getting better. Made a new idea.What a predictable ponzi.
If you follow my twitter, I posted that I went long 2 minutes before the pump, 2 minutes. And then shorted at the very top. Very very very easy.
Also got free money from the extremely high interest that stuck delusional bulls pay bears on Bitmex. Got 30% of my risk back since May 27 when I shorted.
Thanks for the money.
הערה
Blockchain explorer is full of transactions from BFX to Coinbase.Expecting Bitcoin to make new highs in the next 2 weeks.
הערה
There is news of a big investor getting into crypto. Good Good Good.Last time this happened (with Soros Rothschilds and Rockefellers) BTC price plunged 70%.
CNBC is telling people how to buy Bitcoin.
When they told people how to buy Ripple prices took at 90% nosedive.
Whales are currently exit scamming.
I expect prices to go up for another 5 to 10 days as more idiots get sucked in, and then finally the big crash. If enough idiots buy, distributuon can last longer I do not think this is likely, and if it happens prices won't go much higher anyway.
הערה
More exit scams going on. Enjoy your russian roulette "investors".Remember, if the exit scams do not happen at the very top to the cent, then it was all just FUD to report them.
הערה
As expected the 2018 bear market lasted 1 year (expected 1 to 2).As expected a 6 months to 1 year bull market happened (can last up to 2 years I strongly doubt it, probably ends soon).
As expected bears have capitulated... Even more than I expected, we are back to the previous bubble peak levels.
As expected when the price slowed down in reversal areas it went down.
As expected several moderately big exchanges have exit scammed.
As expected the sheeple have ignored the facts, very eager to lose their money.
As expected:
"See? I told you to hold. The bull market is back. Buy more!"
"Haha bears took one for the team :p Yes I agree."
To be discovered: We will make a double top or lower high on the monthly chart and start a new bear market or 1 to 3 years.
Now we are looking to short around 14k, I do not know if we will get filled.
I do not care for doing anything other that what has worked dozen of times without fail on BTC. Either short 14K or join the trend on a continuation pennant.
It is amazing that this idea can be a big success and so many ignorant idiots are mocking it in the comments. Lmao how does their brain work? Wtf did they expect?
All exchanges to exit scam at the same time and sell at the same time and the price to go to zero in a 1 minute candle? Going to take at least months.
We had 1 major exit scam every 2 weeks since this idea... Didn't even expect that much.
Their slow brains will have a very nasty surprise once they finish processing that information... In 10 or 15 years... (took me 3 seconds).
I will keep making ideas that require at least 2 brain cells to understand so I do not mistakenly help the pleb I guess? It seems too easy...
הערה
DodgeCoin got pump and dumped.Keep an eye on the alt market.
Things are moving more slowly than usual...
I still want to see BTC go to 13000-16000 and short sell there...
It is so heavy. It spend all of 2018 being heavy and often not making it to my short entries, going past my bear targets, and not getting far into my long targets...
Price barely got to 0.786 on this bear market wave 2, and it violently rejected it, made a dead cat bounce then a new low...
There is no reason to take a trade that is so bad, slow and no good entry, but I already sent BTC to Bitmex so might as well... One would need at least 0.786...
This is really not that profitable. I rejected an awesome Oil trade because it gapped up and I didn't like it. I will only short BTC for fun, to know I grabbed money from baggies, and drink their tears. I like profiting from the misery of people that support criminals.
הערה
If you do not want to see updates from this idea there is a little red flag on the bottom right of it, just uncheck it.My ideas are also not listed on tv public homepage so if you do not want to see them you really have no reason to.
I was opressed I mean I was not able to answer comments for a while they were always "under moderation" (other people aggressive comments made it and some perfectly polite ones from btc bears did not) but this is not the case anymore.
The target audience to my ideas are speculators like me, new or advanced, that understand risk to reward and other such things.
There are no intended to casual investors that go all in some virtual made up currency with their whole lifesavings and want a 1 time big percent win.
That said, there is news.
The biggest exchange in Norway, which is a "mainstream" exchange, with fiat support, says funds have been stolen because of a vulnerability in the AlphaPoint software and it will sell all its cryptocurrency holdings and send fiat equal to customers balance from may 7, 2019.
I think their holdings are valued at 4-5 million euros or something.
There are very many exit scams and "hacks" that happened sicne I posted this idea, not going to keep track of all the numbers. It is a hefty sum thought that's for sure.
Typical wave B/sucker rally. Or even wave 2...
It is always like this. Baggies in complete denial and even bears change their minds because the price goes up alot.
This scam is complete nonsense it could go to 100k (if it does no one will be able to cash out anyway) but I am not even sure we will see 14k again (and my short entry).
If it really was profitable institutions that do a ton of futures FX stocks would get in... There is less reward more risk less predictability for them more complications so they do not bother. It moves slowly for long then all happens at once very quickly... Not great. They have no access to options also...
All crypto are correlated, no good ways to hedge...
It is pretty interesting for people that love learning about bubbles/speculative frenzies and market cycles thought. Very interesting.
הערה
Those are the average comments I get:"IF you clic on play you will see the price did not follow that made up blue line you drew and had nothing to do with this idea, no else but maybe IF (????)"
"I did not bother reading your original post other posts or updates and what I see is you posted a short idea at a certain date after which the price went up"
My answer: here is your short idea after which the price soared up
"WELL YOU HAVE TO READ THE ORIGINAL POST AND UPDATES OF THIS IDEA YOU IDIOT YOU CANNOT ASSUME I TOOK A TRADE ONLY BASED OFF THE DATE AT WHICH IT WAS POSTED WITHOUT READING IT AT ALL!" (????)
"So buddy I am still waiting for BTC to get to 1 million, happens soon? Oh this did not age well."
"So buddy I am still waiting for BTC to get to zero, happens soon? Oh this did not age well." (????)
"Huh price has went up in the past 12 hours and all I hear are crickets"
5 minutes later, "Wow this bear doubles down on his view! He must really hate crypto!" (????)
BTC repeats the exact same pattern over and over since 2016 it is literally impossible to lose money
"I only trade crypto and I have no clue on this pattern, if you make short calls you obviously lost money"
I spend 1 year analysing what could be the bottom, $3200 $1800 or $1100, 38.2% 50% 61.8%, possibly but not likely 3 digits "PERMABEAR! YOU WILL EAT YOUR WORDS!"
I spend 9 months analysing what could be the top, 8500 13300, 55% 78.6%, possibly but not likely 20k 30k 100k "PERMABEAR! YOU WILL EAT YOUR WORDS!"
I repeat 100 times I am looking at a retrace at $6300 IF I SEE A REVERSAL PATTERN, price explodes up which means NO TRADE "Oh this did not age well you must have lost alot of money" (they expect people to lose more when, the price goes up more vertically? LOL what a brain!)
So, do you REALLY want to bet on THESE APES being right?
Or will you speculate carefuly with wise position sizes and be picky on both your longs and shorts?
הערה
Now, if the whales / early adopters know what they are doing (and it looks like they do since late Q1 2018) they will keep BTC price not too low not too high.Short version...
10% or more of the planet is in... The suply of suckers is running out (thinking exponentially)
We run out of buyers in 2 ways: going up (no one sells), or staying in a range say 1000-30000.
If BTC goes past 100k sure they will get a better price but every one will start wanting to cash out and we run out of buyers and no one can get out. Plus most buyers want to buy the bottom / "early".
If BTC goes below 1k soon, they get a bad price and alot of baggies might start panicking and want to get out.
For being able to cash out, letting the price go up and run out of buyers is not smart. All of these buyers will be wasted. It does not matter at what price BTC is when this happens. If there are no buyers left, no one can cash out period. 1 million 1 billion 200 billion.
Their best option: Keep pumping the price to make it look like "bull market is back" as they have been doing for over a year. That way they get a steady inflow of suckers they can dump on.
Speculation works in 2 steps duh!
1- Buy
2- Sell
I know there are some crypto enthusiasts that do NOT KNOW (somehow) to sell they need a buyer...
Suckers is a renawable supply, and they get a paycheck every month.
If whales take it slow enough as they have been doing, they can milk the cow a long time.
הערה
And so here we are... This could be it, probably is tbh looking at people behavior.I would like to thank the eager guinee pigs in my comments you have been very helpful this whole bull market helping me identify turns. I'll drink a pricey champagne bottle to you!
Works inverted too...
הערה
Only 1 question, what idiots are buying?הערה
Someone the most bullish possible scenario.My take is that Tether and friends pump the price with fake money (when we broke 4200) and then AFTER suckers buy with real money.
This person explained it for those that have a hard time. I absolutely refuse to lower myself to explain things that obvious and straight forward. Just copy pasting here.
1) You deposit 100 USD at iFinex and receive 100 Tethers. iFinex buys BTC with those 100 USD. BTC price goes up. You buy BTC with those 100 tethers. BTC goes up even more. For those who cannot see it: BTC was artificially inflated because 100 USD were used twice to buy BTC.
2) Let's say BTC's price goes up from 100 to 105 with that 100 USD purchase from iFinex (average purchase price 102.5). Then the price goes from 105 to 110 with your 100 Tether purchase (average purchase price 107.5). Now it's turn for iFinex to make a profit.
3) iFinex sell its BTC. Price goes down from 110 to 105 (average sell price = 107.5). You freak out and sell too. Price goes down from 105 to 100 (average sell price = 102.5). iFinex made 107.5(average sell price) - 102.5(average purchase price) = 5 USD.
4) You lost 5 USD = 102.5(average sell price) - 107.5(average purchase price). Those 5 USD you lost went to iFinex which made a profit by defrauding you while using your money in a fractional reserve matter.
If that's not a scam, I don't know what is.
Also, ifinex stated that its Tether were backed by reserves that includes investments that themselve include BTC...
Scam, complete ponzi, whether the bulls like it or not, whether the bulls are able to understand it or not.
The house of cards can only collapse, and we are now in a distribution phase...
הערה
Vultures are once again eagerly rubbing their hands together. This could be it."We are undergoing unscheduled maintenance with trading temporarily halted. All wallets remain unaffected and all traders will be kept informed of updates as and when they are available. Thank you for your patience."
- Bitfinex.
Ah, I hope something really bad (hence good) happens.
הערה
Going to copy paste what I posted somewhere else.I am looking forward to personally humiliate every donkey that attacked me in the comments or screenshoted this idea on twitter. I'll make a nice picture with eevrything put together, how I was long every time it went up and short every time it went down and also right about 2019 BTC bubble being an echo bubble that will fall down. The bear market is about to hit them all in the face and it is going to be amazing.
Historical moment!
Shorts on Bitfinex have gone to zero!
Ok not literally zero but all time low.
NO ONE is shorting this.
I am getting pretty enthusiastic.
Also a big imbalance on Bitmex, 60/40 but Bitfinex is now at >80% bulls / < 20% bears.
They just have closed their site for an unannounced maintenance.
I do not really expect much from that but it could be an exit scam who knows.
People have been pointing and laughing at me for 6 months, because they forgot who told them to buy at 3k, over and over. I spent all of 2018 saying BTC would bottom at 3200 or 1800. And after it became clear 3k was it, I posted this:
I get it now! They are so incredibly stupid they did not manage to figure out the chart was inverted! WOW! Simply WOW!
Just insane...
I also had a long trade at 8000 tgt 13k with danger zones at 9700 11700:
Aaaaand I also had a buy at 10300 that should be closed green by now:
I only shorted BTC when the momentum slowed, and each time it slowed the price made another drop:
I am the one that missed out the least, without taking any stupid risk.
And they spent all this time insulting me XD
And remember I bought BSV below its very low.
So this is why they kept ignoring anything I said and telling me I missed out and got burned and not realizing how stupid they look? They were not able to figure out a chart was inverted? Jeez.
הערה
I want every one that criticized me in the comments for countertrend trading to go all in in alts now and show me their buys.Otherwise everything you said was idiotic and nothing meant anything. DO IT. NOW.
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The jugement of the Tether criminals is making some progress but there have been no decision.Justin Sun has cancelled his lunch with Warren Buffet, blaming kidney stones which he says are fixed buuut he still won't reschedule or anything, he says he wants to be left alone.
I am not sure what to think of this, maybe the wise bitcoin investors in the comment section can enlighten me:
"CZ won’t come to America because of... reasons.
BFX staff won’t come to America because they don’t do long flights.
Justin Sun won’t come to America because of kidney stones.
What is the common thread?"
הערה
Ah you got me guys, I tried to FUD this but eh didn't work out you won. BTC going to the moon.Or... if I want cretins to buy I should act bearish to get them to "revenge trade" and try to have the last word?
Gosh idiots are complicated. This probably won't change anything, too low IQ anyway...
Justin Sun is a lier? No way! I never thought he was a scammer lier and Tron was a ponzi.
According to Weibo, China banned Justin Sun from leaving the country.
According to TRON, chinese police officers had to raid their building to protect them against angry protestors (idiots that got scammed).
According to several news outlets, Justin Sun has been banned from leaving China because of a ponzi scheme he ran, called "Wave Field Super Community" (LOL what kind of moron fell for that?), guess what?
In China, Tron and its TRX cryptocurrency is known as “Wave Field.” ;)
I like how events are playing out. Would love a ban of all crypto by the whole world soon, but why would they ban it? It will die by itself if they just wait.
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Oh no... Nouriel Roubini posted on twitter that US citizen could use Bitmex with a vpn and now the cftc is investigating.Since then global volumes and volatility dropped dramatically.
Bitmex actually hasn’t gone down as much as spot markets.
Bitmex -37%
Coinbase & Bitfinex -51%
"Internally, whatever the state of BitMEX volumes, long positions are beating out short positions. According to DataMish, the expectation for the exchange’s traders is that BTC’s price is going to soar; over 77 percent of the trades are long while 22 percent are going expecting a drop."
You don't say.
I just know what will happen. Bitmex will exit scam and I'll never see my money again.
But I neeeeed every penny I can get after this summer drought.
Why don't these idiots investigate the exchanges making 95% of the volume that is all fake?
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This idea aged greatly and I am pretty proud of myself, the braindead clowns that criticize me because of a line I drew are only cherry on the cake to remind me of my intellectual superiority (no one ever complained in my bear ideas where I drew a bullish one 1 year ago btw lol).For the extremely rare ones that know how to read the original post of an idea, now I think is the denial period of BTC and I am not bullish in the medium-short term anymore. I think the price could go up in the short term (this week) but still be in denial/complacency/distribution, before dropping.
So I reduced my short exposure, I am even a little bit long, waiting for the price to get to 12500 before scaling in short (but the good entry is 14000, only small until then). I may take in profit before 12500 depends what happens, as early as 11k something.
I wonder in what way sheeple are going to manage to not understand this one?
So straightforward, nothing to understand.
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UNITED NATIONS – North Korea has generated an estimated $2 billion for its weapons of mass destruction programs using “widespread and increasingly sophisticated” cyber attacks to steal from banks and cryptocurrency exchanges, according to a confidential U.N. report seen by Reuters on Monday (today).If you "invested" in Bitcoin you did not only give money to scammers drug dealers pedophiles and tax evaders, but you directly financed North Korea Nuclear Missiles.
Great job!
Do not cry when I rub every one faces in dirt and rub salt in every one's open wounds, after Bitcoin goes to 3 digits or less.
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The White House has made official their dislike of Bitcoin and all cryptos and are asking companies involved to monitor their users.They have also stated they were prepared to take further, more aggressive and direct actions against crypto. RIP.
They have publicly announced that crypto was used to buy narcotics mainly form china... and you all should know the situation between the US and china.
Not impossible that owning BTC in a few years or even months gets you the status of enemy of the state.
Europeans are not safe either, Europe (central bank and G8) has made public their wish to slow or stop crypto.
I posted a new idea "Bitcoin: the end of an era".
The era of "price go up" & "last time they said" is over.
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This is the (unregulated shady) exchange that is not "trans-fee" "wash trading" with the most volume.Great stability.
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Plunge protection team trying their best.Whale sends 10 million USDT to exchange to buy the dip.
USDT.
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I assume all the crypto baggies in the comments are short selling?We are in the exact opposite situation to this post.
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"We won't go to 1k it's ridiculous. No one will sell that low."Lmao just wait till 50 million pea size brains all go at the same time "OH NO! I have to sell while we are still at 4 digits".
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Exact same pattern reversed, and the price is going up. Interesting.Huh, I guess I was right all along, and the paper trading $2500 accounts experts criticizing me were wrong. Who would have thought.
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Bakkt was a failure.The very last Bitcoin ETF was getting decided on by the SEC yesterday.
"The SEC has rejected Bitwise's bitcoin ETF proposal.
While the outcome is no surprise, the SEC went beyond the call of duty, issuing an excruciatingly detailed 112-page order that reads like a damning indictment of bitcoin's market structure."
Ok, once more:
"The SEC has rejected Bitwise's bitcoin ETF proposal.
While the outcome is no surprise, the SEC went beyond the call of duty, issuing an excruciatingly detailed 112-page order that reads like a damning indictment of bitcoin's market structure."
One last time:
"The SEC has rejected Bitwise's bitcoin ETF proposal.
While the outcome is no surprise, the SEC went beyond the call of duty, issuing an excruciatingly detailed 112-page order that reads like a damning indictment of bitcoin's market structure."
DOES THAT FEEL GOOD.
I am delighted ^^
Bakkt was a failure, ETF were rejected that shill was a failure, the price action looks like it is going to zero.
The only 1 thing left BTC criminals have to allow them hope is "The Halving™", and then, nothing left.
It will be realized even by the most ignorant that this was a greater fool game, and those that bought BTC in the thousands of dollars were the final sheet.
They laughed at contrarians that bought BTC when it was a couple of cents to dollars, then regretted it, then they laughed at contrarians that sold BTC for thousands of dollars, and will regret it.
"Oh if only I had known".
"I could have sold BTC for $10,000 but did not because of greed, this was my greatest mistake".
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And here it is.Hmm Hmmm, clears throat...
TOLD
YOU
SO
"A single anonymous market manipulator caused bitcoin to top $20,000 two years ago, study shows"
"A forensic study found that tethers, a digital currency, being traded for bitcoins, revealed a pattern of manipulation during the 2017 cryprocurrency boom.
“Almost the entire price impact can be attributed to this one large player,” finance professors John Griffin and Amin Shams wrote.
“One of the SEC’s top worries is that crypto is subject to manipulation. This study appears to lend credibility to that argument,” Cowen analyst Jaret Seiberg said on Monday.
cnbc.com/2019/11/04/study-single-anonymous-market-manipulator-pushed-bitcoin-to-20000.html
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The price crash is imminent. People don't realize how expensive 8000 is for BTC.You have at most 2 weeks left to sell BTC at a high price such as this, above 6000.
![Bitcoin on an irreversible path to CATASTROPHE [Urgent]](https://s3.tradingview.com/v/VUXEfuRh_mid.png)
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What a surprise, FCOIN the smelly exchange I mentionned "lost" 130 million, the CEO said he quit crypto and "trust me I'll start a new company and pay every one back when it becomes a multi billion business" as a final insult to the ponzi suckers that lost their money :)coindesk.com/crypto-exchange-fcoin-insolvent-after-revealing-up-to-130m-bitcoin-shortfall
A few days later of course...
Bitcoin had the worse day in years (much worse than anything since 2017 peak) and week since 2013 at least.
What a shocking surprise didn't see that coming.
Looks like I was right all along again, and crypto ponzi victims made fools of themselves once again ;)
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