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

[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.

[deadz]

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...

Ill let my people at Goldman know that Flexacon said Binance, lol.

[Flexacon]

Ill let my people at Goldman know that Flexacon said Binance, lol.

Is your wife or mum a cleaner at Goldman or something?

[deadz]

Is your wife or mum a cleaner at Goldman or something?

No, they just manage my money. Do You know how much of a net worth you have to
have in order to be a client, you don’t because you’re not even close to my league. Go back to the craps table, pal!

[Flexacon]

No, they just manage my money. Do You know how much of a net worth you have to
have in order to be a client, you don’t because you’re not even close to my league. Go back to the craps table, pal!

Retired in my mid 30s whilst you're still working like a schlub.

[deadz]

Retired in my mid 30s whilst you're still working like a schlub.

LOL retired at 45 and my net worth smokes yours.

[Flexacon]

LOL retired at 45 and my net worth smokes yours.

Good job owning yourself