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

[Slapper]

Yes, they can unwind it under regulation.

No they can't. It's the reason it's called a "trust."

The type of liquidation that CAN happen is only controlled by the holders of the trust, not the SEC or anyone else. I mean, the SEC can try, but they will be slapped in the courts eventually if they do.

With GTBC or ETHE, should the parent company run into issues, it would be most likely sold off/spun off as a unit, not liquidated or redeemed.

[Flexacon]

Next few mths gonna be interesting to see where this heads...bitcoin at a bit of a crossroads, if it really is the future it better hope the trend similarity to-date skews coincidental rather than a portender of things to come

I think the next few months, maybe even all of 2023 will be pretty boring for bitcoin. Sideways price action with the occasional dumps as more leverage unwinds followed by mini pumps from limited buying pressure. Broader market conditions probably won't be in bitcoins favour either.

2024 will be when bitcoin likely starts taking off again. Broader market will hopefully be back in an uptrend and the bitcoin halving narrative will help price action.

The real crossroads for bitcoin comes in maybe a decades time. How does bitcoin keep the lights on if validaters decide to leave as the fees they collect no longer make it worthwhile.

[Mayday]

No they can't. It's the reason it's called a "trust."

The type of liquidation that CAN happen is only controlled by the holders of the trust, not the SEC or anyone else. I mean, the SEC can try, but they will be slapped in the courts eventually if they do.

With GTBC or ETHE, should the parent company run into issues, it would be most likely sold off/spun off as a unit, not liquidated or redeemed.

Like I said before, there is so many ‘can’t’ arguments and yet we end up seeing that things ‘can’.

Grayscale trusts are all setup the same way and yet they had no issues dissolving the XRP Trust. The case right now is genesis is their only dealer and there is contagion all through DCG because of it.

Could they sell it? Sure. But don’t say they can’t dissolve their trusts when they have already dissolved one and have risk of contagion within their own group which would also allow the trust to be dissolved.

[Thin Lizzy]

I think the next few months, maybe even all of 2023 will be pretty boring for bitcoin. Sideways price action with the occasional dumps as more leverage unwinds followed by mini pumps from limited buying pressure. Broader market conditions probably won't be in bitcoins favour either.

2024 will be when bitcoin likely starts taking off again. Broader market will hopefully be back in an uptrend and the bitcoin halving narrative will help price action.

The real crossroads for bitcoin comes in maybe a decades time. How does bitcoin keep the lights on if validaters decide to leave as the fees they collect no longer make it worthwhile.

You’re probably right. Seems like the big fireworks have already taken place:

[Thin Lizzy]

Same drill with the “Everything is different now” Covid stocks, with this ETF being a composite. Of course, nothing is really different except dummies wearing masks alone outdoors.

[hardgainerj]

https://twitter.com/cris_vond/status/1593664253814251520

[Flexacon]

https://twitter.com/cris_vond/status/1593664253814251520

That's pretty normal attitude/behaviour amongst those born into wealth, finance bros and crypto bros. SBF just happens to be all 3

[Mayday]

Same drill with the “Everything is different now” Covid stocks, with this ETF being a composite. Of course, nothing is really different except dummies wearing masks alone outdoors.

It all looks weird but I guess that’s the point.

Q1 GDP and Q2 GDP negative. Equities sold off. Popular thought was we’re pretty fucked and fair enough.

Q3 was tracking -1.2% and right in the last week flipped positive by a large margin. Very strange. Markets have rallied since Q3 GDP came out.

Q4 GDP tracking around 3%. Earnings will be good.

Sentiment is crazy bearish yet GDP is telling us otherwise And the fact the market rallied from Q3 GDP announcement suggests an upswing instead. PE ratio on S&P is 19 vs 28.

If Q4 GDP holds positive this could cause a real can of worms as we are 40% below PE ratio a year ago which takes us to 5,600. it sounds crazy but if Q1 and Q2 GDP are positive perhaps that’s the trigger?

I still hold my existing crypto positions except for SOL. I figured best to keep something as a hedge just in case something crazy happens but I have NFI.

[Flexacon]

It all looks weird but I guess that’s the point.

Q1 GDP and Q2 GDP negative. Equities sold off. Popular thought was we’re pretty fucked and fair enough.

Q3 was tracking -1.2% and right in the last week flipped positive by a large margin. Very strange. Markets have rallied since Q3 GDP came out.

Q4 GDP tracking around 3%. Earnings will be good.

Sentiment is crazy bearish yet GDP is telling us otherwise And the fact the market rallied from Q3 GDP announcement suggests an upswing instead. PE ratio on S&P is 19 vs 28.

If Q4 GDP holds positive this could cause a real can of worms as we are 40% below PE ratio a year ago which takes us to 5,600. it sounds crazy but if Q1 and Q2 GDP are positive perhaps that’s the trigger?

I still hold my existing crypto positions except for SOL. I figured best to keep something as a hedge just in case something crazy happens but I have NFI.

Stock markets will take a slow dump on bad earnings next year.

[Slapper]

Yes, they can unwind it under regulation.

The reasons for would be they likely get more money and not have to sign any anti competitive contract meaning they can start one up again at a later date.

Discount has gone from 32% up to 42% today.

Quite recently we’ve read ‘can’t happen’ then shit goes south and it happens. Another one is Saylor says he will post BTC as collateral all the way to 3.5k and then post more….. sounds good in theory but if we go su  10k we might see collateral no longer accepted and the. He becomes a seller unless he wants to pay 20% interest on his own junk bonds.

Fair enough.

See you on the other side.

[Thin Lizzy]

Stock markets will take a slow dump on bad earnings next year.

Particularly companies with inflated P/Es. Lulumon took a nasty hit off weak guidance. Apparently, going forward, chicks aren’t gonna be so quick to toss out  their old smelly yoga pants.

[Thin Lizzy]

Coinbase made a fresh low:

[deadz]

Take it to Vegas boys you’ll have far better luck than with bitcrap and the other lies you bought in to.

[a_pupil]

Where's gib 

[Flexacon]

Where's gib 

Gib chose to die on the "buy and hold" bitcoin maxi hill. He is down 75% from the peak, but should still be comfortably in the green from his buy in.

He won't comes back on here until bitcoin breaks 69k.

Also LMAO@ that polychronopolous clown who tried to tell us bitcoin mining stocks were a good buy. Mara is down 95%

[Flexacon]

A Binance bank run is incoming. If this goes then it's sub $10k BTC. Tradfi moves in and the next bull market is good to go.

Coin stock is starting to look mighty tempting...

[Thin Lizzy]

A Binance bank run is incoming. If this goes then it's sub $10k BTC. Tradfi moves in and the next bull market is good to go.

Coin stock is starting to look mighty tempting...

A timeframe for this?

[Flexacon]

A timeframe for this?

It's been simmering for a couple of weeks. Strange movement of "assets" when it came to showing proof of reserves. Several execs supposedly leaving and erratic behaviour from CZ. Now this dropped from Reuters.

https://www.coindesk.com/business/2022/12/12/us-prosecutors-look-to-charge-binance-and-cz-for-possible-money-laundering-violations-reuters/?utm_content=editorial&utm_campaign=coindesk_main&utm_source=twitter&utm_term=organic&utm_medium=social

https://www.reuters.com/markets/us/us-justice-dept-is-split-over-charging-binance-crypto-world-falters-sources-2022-12-12/

Binance has always been sketchy, so none of this would be a surprise.

[loco]

[Thin Lizzy]

FTX’s Sam Bankman-Fried Arrested in the Bahamas, Officials Say - The New York Times

https://www.nytimes.com/2022/12/12/business/ftx-sam-bankman-fried-bahamas.html

[jude2]

FTX’s Sam Bankman-Fried Arrested in the Bahamas, Officials Say - The New York Times

https://www.nytimes.com/2022/12/12/business/ftx-sam-bankman-fried-bahamas.html

Kind of strange they arrest him today, the day before he was supposed to testify in front of congress?

[sync pulse]

To ensure his presence...

[Griffith]

That's pretty normal attitude/behaviour amongst those born into wealth, finance bros and crypto bros. SBF just happens to be all 3

Hopefully he will be in jail.

[Thin Lizzy]

Kind of strange they arrest him today, the day before he was supposed to testify in front of congress?

A couple different theories floating around.

1. Prosecutors don’t coordinate with Congress. So, it just worked out this way.
2. Democrats didn’t want Republicans grilling SBF.

Either way he’s fucked. It’s a standard case of taking customer money and using it for his own benefit. The only unusual part is the amount.

As an aside, his physique is thoroughly unimpressive. He should’ve spent some money on a trainer.

[Thin Lizzy]

Whoa, the Current CEO just testified that SBF’s parents received some money.