Bitcoins - about to hit $5,000 per coin today!

[gib]

it gives good insight into what these elites are thinking . . . the big banks and investment firms will be lobbying hard with yellen and others from the same circle of friends to  '' do something '' if anything starts to challenge them . . .

Big firms and elites want to make money and preserve power. When they realize they can no longer "beat em" they will quickly "join em" and try to control and dominate. This is what will happen with Bitcoin. Slowly but surely elites will acquire, and before many realize it, their hopes of ever realistically becoming a one-coiner will be gone for ever...

[gib]

Range in play is 34.2k -35.5k or 36k.

Downward trend pressure applies meaning the odds are much higher for a break down than a break up.

I have one single coin I trade with for fun on exchange, (other 50 all in cold storage to deliberately avoid the temptation to trade and attempt to pick trends).

I sold that coin yesterday at 37400, and now have a rebuy order in at 31,000. I am long term hodler, but its always fun to try making small gains. That coin I grew with various trades over the last few months to around 1.35 BTC now (and also purchased 2 eth along the way from gains, which I last night sold at 1400, with rebuy order in at 1200). So just grinding away and having a little fun with in and out trades.

[SOMEPARTS]

The eye opener wasn’t the ability to create a bullrun in minutes. It was to see a bullrun that by all account should have succeeded, get nuked in seconds. Insane. Brutal. Heinous. You need to respect whoever did that is in control of the market.

Which is why I noted the Fed likely holds a whale position. They have a trading desk in the basement - same thing they use to monkeyhammer metals. They make $$$ out of thin air, why wouldn't they?

[Mayday]

Big firms and elites want to make money and preserve power. When they realize they can no longer "beat em" they will quickly "join em" and try to control and dominate. This is what will happen with Bitcoin. Slowly but surely elites will acquire, and before many realize it, their hopes of ever realistically becoming a one-coiner will be gone for ever...

The answer can’t always be ‘to the moon’.

Don’t forget, Even you capitulated in 2018 when it all crashed and you sold..... a hooker with a heart of gold you ain’t

[Mayday]

Which is why I noted the Fed likely holds a whale position. They have a trading desk in the basement - same thing they use to monkeyhammer metals. They make $$$ out of thin air, why wouldn't they?

I feel There will be some level of truth to your statement.

[Bindare_Dundat]

I feel There will be some level of truth to your statement.

How will there be some level of truth to his statement? How will we ever find that out?

[Mayday]

How will there be some level of truth to his statement? How will we ever find that out?

His comment is more towards the term ‘the powers that be’. Unidentified but enough power to determine fate and display total control.

[SOMEPARTS]

His comment is more towards the term ‘the powers that be’. Unidentified but enough power to determine fate and display total control.

Correct. Could be by proxy...Goldman, etc. The kind of money we are talking here...at the least they are always looking for something to buy that has a return or an angle.

[Griffith]

https://en.ethereumworldnews.com/eth-and-ethereum-based-stablecoins-settled-over-1-6t-in-2020/

ETH and Ethereum Based Stablecoins Settled Over $1.6T in 2020

ETH, together with stablecoins running on the Ethereum network settled over $1.6 Trillion in transactions last year.[/b] This is according to a report by the team at Consensys who also pointed out that the majority of the stablecoin transactions on Ethereum were carried out via Tether (USDT), USD Coin (USDC) and DAI.

The three largest stablecoins, USDT, USDC, and DAI have seen such a rise in use in 2020 that they are now responsible for more trade volume on Ethereum than the asset that pays for computation — ether (ETH) — itself.

The annual transaction volume for ETH this year was $385 billion, but Tether’s USDT token settled $580 billion on Ethereum, Circle’s USDC stablecoin settled $239 billion on Ethereum, and MakerDAO’s DAI stablecoin settled $98 billion. All told, nearly $1.6 trillion USD in stablecoins and ETH transacted on Ethereum in 2020.

Additionally, some savvy individuals are using stablecoins to hedge against local currencies losing value. The report gives an example of individuals in Brazil using USD pegged stablecoins as an alternative to their local Brazilian real.

In terms of regulation, the team at Consensys highlighted that the rise of stablecoins has led several governments to consider ways of drafting laws that allow their existence in an acceptable environment. The same governments, through their respective Central Banks, are also exploring ways of issuing their very own digital currencies on the various smart contract platforms.

[Bindare_Dundat]

https://www.reuters.com/article/us-crypto-currency-china-mining-idUSKBN29R1AY

Global chip shortage hits China's bitcoin mining sector

SHANGHAI/HONG KONG (Reuters) - A global chip shortage is choking the production of machines used to “mine” bitcoin, a sector dominated by China, sending prices of the computer equipment soaring as a surge in the cryptocurrency drives demand.

The global chip shortage is disrupting production across a global array of products, including automobiles, laptops and mobile phones





A freind of mine works for Ford and has been told to sit at home for weeks as a result of this. Some employees were told this may delay returning to work full time for months 

[pellius]

I have one single coin I trade with for fun on exchange, (other 50 all in cold storage to deliberately avoid the temptation to trade and attempt to pick trends).

I sold that coin yesterday at 37400, and now have a rebuy order in at 31,000. I am long term hodler, but its always fun to try making small gains. That coin I grew with various trades over the last few months to around 1.35 BTC now (and also purchased 2 eth along the way from gains, which I last night sold at 1400, with rebuy order in at 1200). So just grinding away and having a little fun with in and out trades.

What is a "rebuy order"?

[SOMEPARTS]

What is a "rebuy order"?

He has his account automatically set to buy a certain amount back at 31k.

[FitnessFrenzy]

XRP is exploding in value

[Griffith]

XRP is exploding in value

Another pump and dump?

[DooM_]

tomorrow . . .

India plans to introduce law to ban Bitcoin, other private cryptocurrencies

India plans to introduce a law to ban private cryptocurrencies such as bitcoin in the country and provide a framework for the creation of an official digital currency during the current budget session of parliament.

In the agenda (PDF) published on the lower house website, the legislation seeks to “prohibit all private cryptocurrencies in India,” but allow “for certain exceptions to promote the underlying technology [blockchain] of cryptocurrency and its uses.”

The law also seeks to “create a facilitative framework for creation of the official digital currency” that will be issued by the nation’s central bank, Reserve Bank of India, the agenda said.

In 2018, an Indian government panel recommended banning all private cryptocurrencies and proposed up to 10 years of jail time for offenders. The panel also suggested the government to explore a digital version of the fiat currency and ways to implement it.

At the time, RBI said the move was necessary to curb “ring-fencing” of the country’s financial system. It had also argued that Bitcoin and other cryptocurrencies cannot be treated as currencies as they are not made of metal or exist in physical form, nor were they stamped by the government. The 2018 notice from the central bank sent a panic to several local startups and companies offering services to trade in cryptocurrency. Nearly all of them have either since closed shop, or pivoted to serve other markets.

This proposal was challenged by several exchanges and traders, who filed a lawsuit in the Supreme Court. The nation’s apex court ruled in their favor last year. This ruling was seen as “historic” but it did not impact the earlier circular on the policy level.

“Since the government is considering introducing the bill during this session of Parliament, we are sure the government will definitely listen to all the stakeholders before taking any decision,” said Sumit Gupta, co-founder and chief executive of CoinDCX,a cryptocurrency exchange in India.

“We are talking to other stakeholders and will definitely initiate deeper dialogue with the government and showcase how we can actually create a healthy ecosystem in unison,” he said.


https://techcrunch.com/2021/01/30/india-plans-to-introduce-law-to-ban-bitcoin-other-private-cryptocurrencies/

[Humble Narcissist]

Like Indians have money anyway.

[SOMEPARTS]

Like Indians have money anyway.

Yeah, who needs 2 billion people. Seems very bullish for crypto. 

[Bindare_Dundat]

Another pump and dump?

yes

[Bindare_Dundat]

Which is why I noted the Fed likely holds a whale position.

Actual bitcoin miners?
Could they be responsible?

Graph is F2 mining pool coin sales.

[Soul Crusher]

I have a bunch silver bullion.   Hope this is real.  Come home to momma !   

[OneMoreRep]

tomorrow . . .

India plans to introduce law to ban Bitcoin, other private cryptocurrencies

That's HUGE!

"1"

[Bindare_Dundat]

That's HUGE!

"1"

Good luck. Supreme Court already lifted one ban.  If people want it  they will find a way

Also that move would send them into the stone age.  They'd be the only country in that region to ban it. Their neighbor Pakistan is diving into crypto. There's no way india is going to let them pull forward while they lag behind. 

[gib]

I have a bunch silver bullion.   Hope this is real.  Come home to momma !   

Yes, there could well be a MASSIVE silver squeeze building. Great news for those who have PHYSICAL silver. We might even also see some silver ETFs collapse as people move demand to physical.

So, physical silver and silver miners is the way to go to play this.

Mr Anabolic was a silver bug, For once in his life, he may actually be right about a recommendation!

[gib]

He has his account automatically set to buy a certain amount back at 31k.

Correct, so I sell at 37K for example, and then immediately put in a buyer order (eg at 31K). Great way to make money on a volatile asset. Again, I only do this with one coin for fun, grinding away at little gains. Long term by BTCs are all in cold storage.

[gib]

The answer can’t always be ‘to the moon’.

Don’t forget, Even you capitulated in 2018 when it all crashed and you sold..... a hooker with a heart of gold you ain’t

Lol, yes true.

In 2018, yes I did sell off (on the way down after the 20K correction). This time I am more sure and certain about hodling very long term (as in 10 years), and I have put my coins out of reach to some extent to protect myself from myself. Still, if the price rapidly shot up (eg lets say it went to 100K in a month from now) that kind of movement would make me consider selling a little. So I guess the faster and higher any movement up the more inclined I would be to break my hodl.