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

[French]

sell your house and all in, guys
the getbigger's wealth myth will become a reality for each of us !

[Flexacon]

The question is going to be whether they gun for Saylor. What if that 500M he raised is to protect his share price? Everyone assumes it’s for BTC but if BTC price gets dumped hard they’re gunna short his stock into the ground and he has a duty to shareholders, not just his Bitcoin fantasy…….

Im going to play devils advocate. 600m senior secured notes raised due by 2028 at 6.128%.  Do you think btc wont perform at 6.128% a year by 2028? I expect  hedge funds to load up at a nice premium via MSTR.

In my world "the main players" in crypto are institutions, mostly hedge funds. This part of Theoaks post makes me think maybe hedge funds might be working with Saylor and not gunning for him.

Hedge funds have very little to gain now by being directly involved in crypto, so what's the next best thing for them. Exactly what Theoak said.

Looking back at the 13F filings for the previous quarter I'd say the hedge funds where pretty bullish on MSTR. The next set of filings could tell us a lot about which way the market goes. Might be too late by then though, but it least we'll know a bit more going fowards.

Just to add, I keep making jokes about Saylor buying at the top market. Remember May 12th. Saylor bought a bunch of Bitcoin at the top and then Elon tweeted about Tesla exiting the market because of environmental concerns. Bitcoin took a massive dump supposedly because of Elon tweets, but guess what was due to happen on the 13th May.
One of the biggest hedgefunds in the world was due to take a liquidity stress test and they were told a week earlier that they could no longer use crypto for liquidity. If they had substantial crypto holdings they had a week to move it. Coincidence there was a huge sell off the day before their liquidity test and right after Saylor was done pumping BTC ?

It wasn't Elon that caused that crash, it was a hedge fund! (Musk was just used to provide a smokescreen for the crash) The timeline of it all makes a damn good case to suggest Saylor, Elon and the hedgefunds are working together to manipulate the market.

Also remember the 4chan "insider" posts who knew the exact time and date (probably just a guy at the hedge fund who knew about the sell off and wanted to have fun trolling 4chan) and people saying the sell off actually started just before Elons tweet. Getting tin foily now, but fuck it all lines up!

[polychronopolous]

National Republican Congressional Committee begins accepting cryptocurrency campaign donations


The NRCC is the first national party committee to begin accepting cryptocurrency for campaign contributions


The National Republican Congressional Committee, the financing arm for House Republicans, will become the first national party committee to begin accepting cryptocurrency for campaign contributions.

"The NRCC is proud to lead the charge in accepting cryptocurrency campaign contributions," NRCC Chairman and Republican Minnesota Congressman Tom Emmer said in a statement. "We are focused on pursuing every avenue possible to further our mission of stopping Nancy Pelosi’s socialist agenda and retaking the House majority, and this innovative technology will help provide Republicans the resources we need to succeed."

The NRCC will accept cryptocurrency contributions using payment service Bitpay, which will convert the donations into dollars prior to landing in the organization's account.

https://www.foxbusiness.com/politics/nrcc-cryptocurrency-donations

[Tennisballz]

sell your house and all in, guys
the getbigger's wealth myth will become a reality for each of us !

there has to be at minimum, 6 testicles in that photo for it to be a getbiggers reality.

[Mayday]

In my world "the main players" in crypto are institutions, mostly hedge funds. This part of Theoaks post makes me think maybe hedge funds might be working with Saylor and not gunning for him.

Hedge funds have very little to gain now by being directly involved in crypto, so what's the next best thing for them. Exactly what Theoak said.

Looking back at the 13F filings for the previous quarter I'd say the hedge funds where pretty bullish on MSTR. The next set of filings could tell us a lot about which way the market goes. Might be too late by then though, but it least we'll know a bit more going fowards.

It wasn't Elon that caused that crash, it was a hedge fund! (Musk was just used to provide a smokescreen for the crash) The timeline of it all makes a damn good case to suggest Saylor, Elon and the hedgefunds are working together to manipulate the market.

Also remember the 4chan "insider" posts who knew the exact time and date (probably just a guy at the hedge fund who knew about the sell off and wanted to have fun trolling 4chan) and people saying the sell off actually started just before Elons tweet. Getting tin foily now, but fuck it all lines up!

Pretty interesting for sure. I think we can safely say Elon knew about the 19,500 coins to be dumped. 3rd richest man has friends for sure.

Agree hedge funds run it now. Recent market movements show algos are running BTC alongside the market.

MSTR recent bond is 6% return backed by BTC holdings. It's a sick deal! He can sell BTC to cover the cost if need be and that's where it gets interesting. MSTR lost money last year so lets imagine price goes south and to cover his new 6% bond payments he needs to sell some of his BTC, arguably in this scenario the price would be much lower than now. Therefore his BTC holdings go down (along with the HODL argument), the BTC he has is linked to his share price, share price is linked to his initial 2 convertible bond buyers...... see where i'm coming from?

It's a unicorn scenario pondering for fun is all but i think people dismiss risk to quickly.

Regarding today i'm not bullish because retail are the buyers of last resort -->Institutions bought at 10k --> Price did 6x in 6mths with retail FOMO --> Mean reversion (today) --> institutions buy (back to square one) --> retail FOMO --> mean reversion --> institutions buy and so on and so forth......

What people are expecting right now is Institutions bought at 10k --> Price did 6x in 6mths with retail FOMO --> Institutional/country FOMO to 300k --> Mean reversion

[gib]

Don't they say crypto can mostly buy black market shit right now? Seems to play right into Panama's strength.

BTC can buy any kind of shit. both black market and otherwise. All dependent on who is prepared to accept it. Same applies with gold. Same applies with fait money such as the USD.

But, having a currency that INCREASES in value, (as opposed to DECREASES), play's into the strengths of anyone who hold it.

[Theoak*]

Pretty interesting for sure. I think we can safely say Elon knew about the 19,500 coins to be dumped. 3rd richest man has friends for sure.

Agree hedge funds run it now. Recent market movements show algos are running BTC alongside the market.

MSTR recent bond is 6% return backed by BTC holdings. It's a sick deal! He can sell BTC to cover the cost if need be and that's where it gets interesting. MSTR lost money last year so lets imagine price goes south and to cover his new 6% bond payments he needs to sell some of his BTC, arguably in this scenario the price would be much lower than now. Therefore his BTC holdings go down (along with the HODL argument), the BTC he has is linked to his share price, share price is linked to his initial 2 convertible bond buyers...... see where i'm coming from?

It's a unicorn scenario pondering for fun is all but i think people dismiss risk to quickly.

Regarding today i'm not bullish because retail are the buyers of last resort -->Institutions bought at 10k --> Price did 6x in 6mths with retail FOMO --> Mean reversion (today) --> institutions buy (back to square one) --> retail FOMO --> mean reversion --> institutions buy and so on and so forth......

What people are expecting right now is Institutions bought at 10k --> Price did 6x in 6mths with retail FOMO --> Institutional/country FOMO to 300k --> Mean reversion

Saylor is on a Win/Win/lose course.  Perhaps he has some knowledge  that the upcoming ETFs will be denied and still years away from  approval. Converts Microstrategy into a perceived ETF. Hedge funds come in via MSTR. Thats a win.

ETFs are approved, btc shoots up. MS is now the proud owner of 122k BTC at a blended rate of 24k. Thats a win.

BTC takes a dump, breaking all models before it drops below 15k. His shareholders abandon ship.... temporarily. Thats a lose.

Im having a hard time believing this is all just a gamble, If im dealing with that kind of money and reputation I want assurances...these big boys all play together.  Billionaires  have it all at their disposal.

If 1 in 2 of these  wins happens....this is absolutely financial advice

SOMEPARTS - take out a loan against your 1991 Honda Civic and go all in btc

HumbleNarcissist - pull out the equity from your mothers basement and go all in btc.

IronNat - dont go anywhere near a btc wallet, mostly likey youll  give up your private keys within  the first week. Buy MSTR stock and save the webpage in your browser.

[Flexacon]

What people are expecting right now is Institutions bought at 10k --> Price did 6x in 6mths with retail FOMO --> Institutional/country FOMO to 300k --> Mean reversion

To be fair I thought the same thing a month or 2 back (just a 100K not 300K)

For whatever reason the SEC passed a raft of measures in April/May to cock block hedgefunds. I'm guessing they saw retail fomoing, a huge bubble forming and it all ending in tears for retail. Not just crypto losses, but money just completely vanishing.

People need to look more into tether and the potential carnage it could cause. This is great video

[Flexacon]

Saylor is on a Win/Win/lose course.  Perhaps he has some knowledge  that the upcoming ETFs will be denied and still years away from  approval. Converts Microstrategy into a perceived ETF. Hedge funds come in via MSTR. Thats a win.

ETFs are approved, btc shoots up. MS is now the proud owner of 122k BTC at a blended rate of 24k. Thats a win.

BTC takes a dump, breaking all models before it drops below 15k. His shareholders abandon ship.... temporarily. Thats a lose.

Im having a hard time believing this is all just a gamble, If im dealing with that kind of money and reputation I want assurances...these big boys all play together.  Billionaires  have it all at their disposal.

If 1 in 2 of these  wins happens....this is absolutely financial advice

SOMEPARTS - take out a loan against your 1991 Honda Civic and go all in btc

HumbleNarcissist - pull out the equity from your mothers basement and go all in btc.

IronNat - dont go anywhere near a btc wallet, mostly likey youll  give up your private keys within  the first week. Buy MSTR stock and save the webpage in your browser.

I'm gonna sit this round out, at the very least for a month or 2, but not gonna lie I'm getting pretty bullish on bitcoin long term. Not so much because of maxi hodl principles, but because hedgefunds are involved. You don't bet against some of the smartest and wealthiest people out there who have their tentacles in everything. For all we know they could be Satoshi Nakamoto

[polychronopolous]

Miami mayor offers city's clean nuclear power to Chinese Bitcoin miners

Mayor Francis Suarez wants to make Miami a Bitcoin mining hub by offering the city’s cheap, clean nuclear energy supply.

With Bitcoin (BTC) mining concentration expanding in North America, Miami mayor Francis Suarez is looking to position his city as a hub for crypto mining activity.

Speaking to CNBC on Thursday, Mayor Suarez said he is inviting foreign mining companies to consider establishing data centers in the city.

According to Suarez, Miami’s ample nuclear electricity supply should attract Bitcoin miners looking to adopt clean energy sources for their operations, especially amid the current spotlight on the supposed carbon footprint of crypto mining.

Mayor Suarez has previously weighed in on the issue claiming back in March that 90% of Bitcoin mining was from “dirty energy.”

At the time, the Miami mayor argued that a shift in mining concentration to the United States may help to ease environmental concerns.

As part of efforts to attract overseas Bitcoin miners, Mayor Suarez stated that city officials were looking to reduce the cost of energy in conjunction with the power companies. Other incentives like favorable taxes and minimal regulations are also on the table, according to the Miami mayor.

By using cheap, clean energy and crypto-friendly regulations, Miami may compete with other emerging mining destinations in Texas and Wyoming.

The plan may also further expand Miami’s crypto adoption drive with the city looking to become the Bitcoin and crypto capital of the world.

Mayor Suarez is himself a crypto proponent and has said previously that he owns both Bitcoin and Ether (ETH). As previously reported by Cointelegraph, the Miami mayor bought BTC after Congress passed the $1.9 trillion stimulus bill back in March.

Suarez’s open invitation to overseas miners is also coming at a time of increasing clampdowns on crypto mining by Chinese authorities. On Friday, reports emerged that crypto miners in Ya’an, a city in the Sichuan Province, have been ordered to shut down their operations.

With anti-crypto mining sentiments seemingly prevalent among authorities in Beijing, friendlier climes like Miami may prove attractive to miners leaving China. Indeed, some miners are already considering plans to leave the country with a spokesperson for BTC.top telling Cointelegraph, “Yes, we want to go overseas.”

https://cointelegraph.com/news/miami-mayor-offers-city-s-clean-nuclear-power-to-chinese-bitcoin-miners

[Theoak*]

To be fair I thought the same thing a month or 2 back (just a 100K not 300K)

For whatever reason the SEC passed a raft of measures in April/May to cock block hedgefunds. I'm guessing they saw retail fomoing, a huge bubble forming and it all ending in tears for retail. Not just crypto losses, but money just completely vanishing.

People need to look more into tether and the potential carnage it could cause. This is great video

This would be the only way id feel we drop below previous ATH (20k). Tether accounts for 9% of tge market cap and not all is in btc. Definate shenanigans, to what extent though....

[IroNat]

IronNat - dont go anywhere near a btc wallet, mostly likey youll  give up your private keys within  the first week. Buy MSTR stock and save the webpage in your browser.

I'm too timid and afraid so I will take your advices.  Thank you!

[polychronopolous]

Paraguayan Official Confirms: In July We Legislate Bitcoin


After hinting at potential cryptocurrency legislation last week, a Paraguayan official has confirmed that the rule is coming in July.


Paraguay’s Deputy of the Nation, Carlos Antonio Rejala Helman, has confirmed that new legislation in regards to Bitcoin will arrive in July. This comes amid growing adoption in Latin America led by El Salvador, which could be followed by Panama as well.

CryptoPotato reported last week when Rejala Helman said his country planned to start working on an “important project” that included Bitcoin and PayPal

Although he provided little-to-no information at the time about the precise nature of the project, the official confirmed it’s coming in a more recent tweet.
 
Commenting on news indicating that one of Paraguay’s largest entertainment organizations has started to accept various digital assets, Rejala Helman emphatically asserted, “This is Paraguay. July we legislate! #Bitcoin.”
 
This comes shortly after Gabriel Silva, a Panamanian congressman, laid out plans to present a bill on cryptocurrency adoption as a legal tender as well.
 
He believes Panama should not trail other nations from the region that have already taken steps to legalize Bitcoin.
 
Naturally, he meant El Salvador. The small country located in Central America has been the leader in terms of BTC adoption.
 
As reported recently, the nation officially voted in favor of a new rule making Bitcoin a legal tender within its borders. El Salvador’s President, Nayib Bukele, further outlined his support for the asset and even urged miners to mine BTC with the thermal energy of the country’s volcanoes.

https://cryptopotato.com/paraguayan-official-confirms-in-july-we-legislate-bitcoin/

[Mayday]

Yesterday:
BTC long coins down 2.7% (47k coins long)
BTC short coins down 12% (22k coins short)

A mountain of shorts closed in yesterday’s market sell off action meanwhile Longs basically didn’t flinch.

2/3 of the total longs are underwater on price (36k+) and opened during the retail FOMO phase from February onwards. This doesn’t mean they are in distress but you just have to be aware.


Friday’s Fed meeting was a deflationary event trigger and the USD is responding as a result. This means recent inflation will unwind for a period.

Chart is DXY performance, note the 2 downswings correlate with 2017 and 20-21 BTC bullruns. Target is 0.98 which history says might be 3 months or so to stabilise that level. From there we need to see what QE packages get pumped in to reverse direction which will take time.

[Jakobslander]

It wasn't Elon that caused that crash, it was a hedge fund! (Musk was just used to provide a smokescreen for the crash) The timeline of it all makes a damn good case to suggest Saylor, Elon and the hedgefunds are working together to manipulate the market.

What caused the current drop from the top to where we are now is Coinbase going public. As usual, there was a plethora of media hit jobs telling people to look at the pie in the sky and, sure enough, Real Money took the price where it wanted it because they have access to a lot of money and knowledge of where price/limit stop pools are. They can literally price-crash BTC to wherever they want.   

Secondly, there is the Damocles sword of the Mt. Gox coins, which are STILL hitting the market. Especially Japanese whales, whom, due to legal constraints in Japan, cannot private-place the coins and must dump them in the market in a specified time period. It is OBVIOUSLY clear that some of the Japanese whales bought the stolen BTC from the Russian dude that hacked Mt. Gox and are selling on the hush-hush.

[Jakobslander]

Friday’s Fed meeting was a deflationary event trigger and the USD is responding as a result. This means recent inflation will unwind for a period.

Chart is DXY performance, note the 2 downswings correlate with 2017 and 20-21 BTC bullruns. Target is 0.98 which history says might be 3 months or so to stabilise that level. From there we need to see what QE packages get pumped in to reverse direction which will take time.

DXY is on a "dead cat bounce." IF it clears 93.50 we can then reassess but, as of right now, there is no deflationary risk. Another clue is that everyone and their mothers-in-law is expecting another deflationary shock, hence it won't happen. Powers-that-be will take the DXY into the mid 80s if they need to. 

Lots of people being shown the precipice, lots of fear mongering, both on the USD front, the equity markets as well as cryptos. That, to me, is a sign that Big Money is looking to take everything higher. The next economic retracement isn't going to be a recession, it's going to be a nasty depression and the markets are going to go to really stupid levels before the house of cards comes down. I believe, from an EW standpoint, we're on an extended wave 5 of 5 of 5 of 5 of 5. "Toppy" isn't the word, it's what comes next.

My two cents. 

[Jakobslander]

Saylor is on a Win/Win/lose course.  Perhaps he has some knowledge  that the upcoming ETFs will be denied and still years away from  approval. Converts Microstrategy into a perceived ETF. Hedge funds come in via MSTR. Thats a win.

ETFs are approved, btc shoots up. MS is now the proud owner of 122k BTC at a blended rate of 24k. Thats a win.

BTC takes a dump, breaking all models before it drops below 15k. His shareholders abandon ship.... temporarily. Thats a lose.ock and save the webpage in your browser.

The ETF will happen very soon. The SEC is getting daily calls from Big Money asking them to get their shit together. We have multiple foreign ETFs in place and, not having one in the US, makes the SEC look extremely inefficient. I think the ones that are closest to one getting approved are the Grayscale folks. Their OTC product is trading at a discount (!!!) and, rumor has it, applied PRIVATELY to turn their BTC and ETH products into ETFs. Next in line will be the Winklevoss' ETF and then everybody else.

Again, the SEC is under extreme pressure to get this approved very soon. Lots of money going to foreign funds. Uncle Sam no like that. 

[Flexacon]

What caused the current drop from the top to where we are now is Coinbase going public. As usual, there was a plethora of media hit jobs telling people to look at the pie in the sky and, sure enough, Real Money took the price where it wanted it because they have access to a lot of money and knowledge of where price/limit stop pools are. They can literally price-crash BTC to wherever they want.   

Secondly, there is the Damocles sword of the Mt. Gox coins, which are STILL hitting the market. Especially Japanese whales, whom, due to legal constraints in Japan, cannot private-place the coins and must dump them in the market in a specified time period. It is OBVIOUSLY clear that some of the Japanese whales bought the stolen BTC from the Russian dude that hacked Mt. Gox and are selling on the hush-hush.

I can see the coinbase angle as BTC hit ATH around then, but I still think there is more to it.

These points can all easily be verified

May 4th the SEC dropped that crypto could no longer used by hedgefunds to pass liquidity tests. So what happens if hedgefunds had staked coins in defi? Projects like uniswap and pancakeswap would start dumping due to hedgefunds removing their staked coins. That's exactly what started happening early May.

May 12th ETH hits an all time high and then dumps. As mentioned earlier May 13th was a liquidity stress test for a giant hedefund and crypto holdings don't help them anymore. Another coincidence?

Tether also shows the movement of money corresponding to all this.

The coinbase, MtGox angles will without doubt effect the price of BTC, but it looks like the SEC shut the game down (for now)

To me it's looking like some hedgefunds and possibly banks will hit the shitter soon, (the archegos/credit suisse stuff is just the tip of the iceberg) so everything is being reigned in and tightened up to avoid too much collateral damage. Once that's done and their assets are picked clean by the likes of BlackRock, I expect all the crazy bubbles to resume.

[Mayday]

DXY is on a "dead cat bounce." IF it clears 93.50 we can then reassess but, as of right now, there is no deflationary risk. Another clue is that everyone and their mothers-in-law is expecting another deflationary shock, hence it won't happen. Powers-that-be will take the DXY into the mid 80s if they need to. 

Lots of people being shown the precipice, lots of fear mongering, both on the USD front, the equity markets as well as cryptos. That, to me, is a sign that Big Money is looking to take everything higher. The next economic retracement isn't going to be a recession, it's going to be a nasty depression and the markets are going to go to really stupid levels before the house of cards comes down. I believe, from an EW standpoint, we're on an extended wave 5 of 5 of 5 of 5 of 5. "Toppy" isn't the word, it's what comes next.

My two cents.

I should clarify when I say deflationary event i mean anything from small-large, essentially a sell off event of some kind which relates across many segments. I’m not saying this is a biblical crash by any means.

The problem with your theory is the banks just put a record 0.8T of cash back in with the Fed to earn interest.

JPM and others have also said they are hoarding cash. A stack of the QE isn’t entering the market and instead is being held back in cash therefore big money isn’t looking to take the market to take it higher, they see the markets are at risk due to extreme high PE ratios and parabolic nature of some commodities (eg lumber) which ironically they caused.

It’s a good example of why QE is not the answer. All they did was cause cost push inflation when what they want is demand pull inflation. We have just seen a point where even with free money, banks lose confidence in the market and begin hoarding cash.

It might be June/July for things to work itself out.

Regarding crypto, All they needed to do was get it to 42.2k and at that point a wave of liquidity enters (massive order book above 42k). It’d go straight to 47k, instant 15% gain if they get it there. This is no secret, instant riches!!!!  We know the cash is there to do it. institutions are loaded to the eyeballs with cash yet just like the rest of the market they don’t want to put it into the system and this includes crypto.

Flex gave me good advice. Be more retarded. It truly is as simple as this:

Retail buyers are the bag holders of last resort. Institutions do not FOMO over the top of a retail FOMO.

We go down until retail is rug pulled and squeezed out.

[FitnessFrenzy]

Ethereum classic is down around 70% from its peak a few months ago.

[gib]

Ethereum classic is down around 70% from its peak a few months ago.

Almost all alts will fade to zero, leaving only a handful of lats remaining. Safest risk vs reward approach is BTC to the MAX, then HODL. If we all collectively adopt the same approach, we all will succeed.

Also, if you look at nations adopting cypto, look at what they are sticking with. Its Bitcoin (obviously) and nothing else. El Salvador started, and many more will follow.

[Mayday]

Here is something for anyone interested in bitcoin to ponder.

Is the value of bitcoin the digital ‘scarcity’ or is the value of bitcoin the energy input?


I’m happy to answer any questions but outside of that, this is my last post.

[SOMEPARTS]

Here is something for anyone interested in bitcoin to ponder.

Is the value of bitcoin the digital ‘scarcity’ or is the value of bitcoin the energy input?


I’m happy to answer any questions but outside of that, this is my last post.

Neither. It's first mover advantage plus viral FOMO.

The energy is wasted, not stored. Elon has shone a light on that.

Don't even get me started on scarcity, haha.

[polychronopolous]

Cryptocurrency payments coming to some Texas H-E-B stores


AUSTIN (KXAN) — Cryptocurrencies like Bitcoin, Ethereum, Litecoin and Dogecoin, the meme-originated favorite of Elon Musk, will soon be options for payment at some H-E-B grocery stores in Texas.

The Houston Chronicle reports currency provider Coin Cloud will soon begin placing kiosks in several stores where customers will both be able to make purchases using the digital currency, but will also be able to purchase more coins.

An H-E-B representative told Houston Chronicle the pilot program will start in 29 Houston-area stores. The machines will also be Coin Cloud’s 2,00th machine.

Worldwide, more and more businesses are starting to embrace cryptocurrencies like Bitcoin, which is the most popular. Currently, 1 Bitcoin equals about $36,120.20 in U.S. dollars. Second most popular is Ethereum: 1 Ether currently equals $2,225.98 U.S. dollars.

Despite their surging popularity, many investors and experts still lack faith in them as long-term investments, citing volatility and uncertainty around value retention.

 https://www.kxan.com/news/business/cryptocurrency-payments-coming-to-some-texas-h-e-b-stores/

[Humble Narcissist]

These companies are accepting crypto knowing almost no one will buy using crypto.  For any crypto currency the company gets will just be stored up hoping it goes up big again.

Why would any crypto investor use it to buy anything?  You could end up paying 1000X what the original cost of the product was.