Author Topic: Bitcoins - about to hit $5,000 per coin today!  (Read 892426 times)

Theoak*

  • Getbig IV
  • ****
  • Posts: 1425
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9050 on: November 16, 2022, 05:57:52 AM »
Blockfi now gonesk, just emailed clients they’ve frozen everything. No liquidation yet from them so that will happen shortly.

CoinSpot is on the edge aswell. Kucoin also in trouble.

Saylor gets his next margin call at 13.5k and he keeps posting collateral NOT paying cash for calls which means he can’t close his position.

At 15.5k plebs were buying alts meanwhile Big money was running away from a 8.5k price……

Genesis just went down.

https://twitter.com/GenesisTrading/status/1592867198900768769?s=20&t=9zWCmAxESAKmAURSHeeb7w

Mayday

  • Getbig IV
  • ****
  • Posts: 2907
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9051 on: November 16, 2022, 11:14:44 AM »
Genesis just went down.

https://twitter.com/GenesisTrading/status/1592867198900768769?s=20&t=9zWCmAxESAKmAURSHeeb7w

Which has contagion to Gemini who also just went down. Apparently Saylor took a loan from Genesis but I can’t find the details on it.

Now apparently Silvergate Bank have contagion to this mess and they are the ones who lend money to Saylor……. The guy who posts collateral to cover margin calls instead of selling BTC and using that money to pay the margin call……

Saylor intends to use every single BTC as collateral to cover margin calls down to 3,500. If something were to cause discomfort to Silvergate they could advise Saylor to close his position in which case at a price of 13.5k he would become a disgruntled seller of 35k BTC to close.

Wadda mess

a_pupil

  • Getbig V
  • *****
  • Posts: 4872
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9052 on: November 16, 2022, 11:35:36 AM »
Which has contagion to Gemini who also just went down. Apparently Saylor took a loan from Genesis but I can’t find the details on it.

Now apparently Silvergate Bank have contagion to this mess and they are the ones who lend money to Saylor……. The guy who posts collateral to cover margin calls instead of selling BTC and using that money to pay the margin call……

Saylor intends to use every single BTC as collateral to cover margin calls down to 3,500. If something were to cause discomfort to Silvergate they could advise Saylor to close his position in which case at a price of 13.5k he would become a disgruntled seller of 35k BTC to close.

Wadda mess

That saylor guy needs to be taken behind the barn and put out of his misery. What an idiot lol.

Theoak*

  • Getbig IV
  • ****
  • Posts: 1425
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9053 on: November 16, 2022, 12:19:04 PM »
Which has contagion to Gemini who also just went down. Apparently Saylor took a loan from Genesis but I can’t find the details on it.

Now apparently Silvergate Bank have contagion to this mess and they are the ones who lend money to Saylor……. The guy who posts collateral to cover margin calls instead of selling BTC and using that money to pay the margin call……

Saylor intends to use every single BTC as collateral to cover margin calls down to 3,500. If something were to cause discomfort to Silvergate they could advise Saylor to close his position in which case at a price of 13.5k he would become a disgruntled seller of 35k BTC to close.

Wadda mess

Gemini hasn't gone down......yet.


"Gemini exchange fully back online; all customer funds held on the Gemini exchange are held 1:1 and available for withdrawal at any time."

Humble Narcissist

  • Getbig V
  • *****
  • Posts: 30248
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9054 on: November 17, 2022, 02:16:28 AM »
bitcoin is literally one of the best investments in the last ten years, i believe it is factually the best in terms of ROI. You mean this current downtrend?
It is a classic ponzi scheme. Those who got in and out early made big money. Everyone else was duped.

Necrosis

  • Getbig V
  • *****
  • Posts: 9899
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9055 on: November 17, 2022, 10:01:15 AM »
It is a classic ponzi scheme. Those who got in and out early made big money. Everyone else was duped.

Its after going up and down many times, its not a ponzi scheme. Crypto does have real world applications and is a natural advancement on cloud computing.

This is an exchange issue, not a crypto issue.

Thin Lizzy

  • Getbig V
  • *****
  • Posts: 18452
  • It’s all a fraud
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9056 on: November 17, 2022, 10:37:31 AM »
Its after going up and down many times, its not a ponzi scheme. Crypto does have real world applications and is a natural advancement on cloud computing.

This is an exchange issue, not a crypto issue.

Price cuts through all the bullshit. Once the  etf went public, Bitcoin went down the toilet for good. Classic pump and dump.

EVERYONE who bought this lost money:


TheGrinch

  • Getbig V
  • *****
  • Posts: 5029
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9057 on: November 17, 2022, 10:54:50 AM »
Bernie Madoff, Bankman-Fried, Zelensky, Fink, Yellen, Soros.  Wonder what all these people have in common?

Flexacon

  • Getbig V
  • *****
  • Posts: 8171
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9058 on: November 17, 2022, 11:01:12 AM »
Price cuts through all the bullshit. Once the  etf went public, Bitcoin went down the toilet for good. Classic pump and dump.

EVERYONE who bought this lost money:

Bitcoin has pumped and then dumped over 80% 3 times already. It's on it's 4th cycle now, it's pumped and now almost dumped 80%.

A lot of money is waiting to buy it when does dump 80% plus. This will push the price up and then others start to FOMO in. Price eventually squeezes. It's just market dynamics now. Only new/unfavourable regulation stops another cycle.

sculpture

  • Getbig IV
  • ****
  • Posts: 2544
  • Getbig!
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9059 on: November 17, 2022, 02:47:05 PM »
Its junk

IroNat

  • Getbig V
  • *****
  • Posts: 36508
  • Even Vince Lombardi and Bill Belichick got fired.
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9060 on: November 17, 2022, 06:27:18 PM »
Buy tulips.

Dave D

  • Getbig V
  • *****
  • Posts: 16685
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9061 on: November 17, 2022, 06:50:42 PM »

sync pulse

  • Getbig V
  • *****
  • Posts: 5639
  • Only be sure always to call it please, 'research'
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9062 on: November 17, 2022, 07:19:23 PM »
As I understand it...Cryptocurrency works because of computer banks doing math/mining ALL the time...What if over time computer banks stop running the programs?...All the wealth disappears?...What if after it stops someone tries to restart "The Bitcoin Algorithm"...Would the wealth reappear?

Humble Narcissist

  • Getbig V
  • *****
  • Posts: 30248
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9063 on: November 18, 2022, 10:11:03 AM »

Necrosis

  • Getbig V
  • *****
  • Posts: 9899
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9064 on: November 18, 2022, 10:22:56 AM »
Price cuts through all the bullshit. Once the  etf went public, Bitcoin went down the toilet for good. Classic pump and dump.

EVERYONE who bought this lost money:

This has happened three times already, so its more of a pump n dump, pump and dump, pump and dump and pump and now this dump.


There is nothing classic about that. Again, it is one of the best investments in the last ten years.  so if its a classic pump and dump we are all fucked.

Mayday

  • Getbig IV
  • ****
  • Posts: 2907
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9065 on: November 18, 2022, 09:46:02 PM »
Bitcoin has pumped and then dumped over 80% 3 times already. It's on it's 4th cycle now, it's pumped and now almost dumped 80%.

A lot of money is waiting to buy it when does dump 80% plus. This will push the price up and then others start to FOMO in. Price eventually squeezes. It's just market dynamics now. Only new/unfavourable regulation stops another cycle.

Big money now sprinting away from Grayscale 👀

48% discount now. Big money isn’t interested at 8,700 right now.


Flexacon

  • Getbig V
  • *****
  • Posts: 8171
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9066 on: November 18, 2022, 10:39:05 PM »
Big money now sprinting away from Grayscale 👀

48% discount now. Big money isn’t interested at 8,700 right now.

Contagion. The worry is 3AC unwinding might end up taking down Greyscale. Also some less than convincing tweets from greyscale trying to reassure their clients

Slapper

  • Getbig V
  • *****
  • Posts: 4303
  • Vincit qui se vincit
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9067 on: November 19, 2022, 04:17:27 AM »
Big money now sprinting away from Grayscale 👀

48% discount now. Big money isn’t interested at 8,700 right now.

Not Grayscale, GBTC. The reason I make a distinction is because 1) Grayscale is a cash cow, it's their parent company that has the exposure, 2) Bitcoin's price is highly dependent on Grayscale's constant daily buying and 3) GBTC is going to be one of the stocks to MUST OWN coming out of this capitulation event because I highly suspect that they're going to settle their lawsuit with the SEC soon (so will XRP) and the discount is going to close out immediately catching many by surprise.

Let's not lose sight of the fact that GBTC is a trust that makes an insane amount of money for Grayscale. This company IS NOT going to go bankrupt. Lots of noise, lots of screaming from longs, lots of yelling from people wanting the discount to go away but it ain't going anywhere.

Slapper

  • Getbig V
  • *****
  • Posts: 4303
  • Vincit qui se vincit
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9068 on: November 19, 2022, 04:19:33 AM »
Contagion. The worry is 3AC unwinding might end up taking down Greyscale. Also some less than convincing tweets from greyscale trying to reassure their clients

It's Grayscale. And how exactly is a "contagion" going to take down a company that ONLY makes money and has essentially no overhead (comparatively speaking)?

You guys are falling for the trap.

Flexacon

  • Getbig V
  • *****
  • Posts: 8171
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9069 on: November 19, 2022, 04:46:40 AM »
It's Grayscale. And how exactly is a "contagion" going to take down a company that ONLY makes money and has essentially no overhead (comparatively speaking)?

You guys are falling for the trap.


Subsidiary of the same parent company needs a $1 billion liquidity injection by Monday and you're trying to tell us we should ignore this? What trap are we falling for here exactly?

People asked Grayscale to show proof of reserve and their response was basically to say "no, it's a security risk".

If people didn't like that answer then Grayscale have no one to blame, but themselves.

Mayday

  • Getbig IV
  • ****
  • Posts: 2907
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9070 on: November 19, 2022, 12:35:31 PM »

Subsidiary of the same parent company needs a $1 billion liquidity injection by Monday and you're trying to tell us we should ignore this? What trap are we falling for here exactly?

People asked Grayscale to show proof of reserve and their response was basically to say "no, it's a security risk".

If people didn't like that answer then Grayscale have no one to blame, but themselves.

Yup, the coverups created huge contagion. Just like the GFC, when one broke it then triggered another 2-5 banks and so on.

They probably raise the 1B and we rally. Then someone else wants to exit and we end up at 13k but now with whoever loaned the 1B to also be in trouble lol. 

Cathy Wood was the only big name to buy GBTC at 8,700 👀 I don’t believe the person who is calling for $12 oil is going to get the bottom bang on.

Thin Lizzy

  • Getbig V
  • *****
  • Posts: 18452
  • It’s all a fraud
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9071 on: November 19, 2022, 01:05:27 PM »
I’m still seeing “Crypto.com” ads on the financial networks. So, there’s still some institutional support for the industry.

Flexacon

  • Getbig V
  • *****
  • Posts: 8171
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9072 on: November 19, 2022, 01:51:31 PM »
Yup, the coverups created huge contagion. Just like the GFC, when one broke it then triggered another 2-5 banks and so on.

They probably raise the 1B and we rally. Then someone else wants to exit and we end up at 13k but now with whoever loaned the 1B to also be in trouble lol. 

Cathy Wood was the only big name to buy GBTC at 8,700 👀 I don’t believe the person who is calling for $12 oil is going to get the bottom bang on.

I'm not sure about a rally (maybe back up to 18k resistance) More a case of we don't dump
I’m still seeing “Crypto.com” ads on the financial networks. So, there’s still some institutional support for the industry.

BTC ETFs are potentially a very attractive product. Good chance the $1B DCG need comes from someone like Blackrock.

Griffith

  • Getbig V
  • *****
  • Posts: 9041
  • .......
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9073 on: November 19, 2022, 02:58:22 PM »
I’m still seeing “Crypto.com” ads on the financial networks. So, there’s still some institutional support for the industry.

They are a sponsor of Formula One, the Miami F1 race and the 'Overtake Award'.

Most of the teams also have crypto sponsors:

Binance
Bybit
Fantom
Floki
Tezos
Velas

And till recently FTX sponsored Mercedes.

Thin Lizzy

  • Getbig V
  • *****
  • Posts: 18452
  • It’s all a fraud
Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #9074 on: November 19, 2022, 03:45:50 PM »
They are a sponsor of Formula One, the Miami F1 race and the 'Overtake Award'.

Most of the teams also have crypto sponsors:

Binance
Bybit
Fantom
Floki
Tezos
Velas

And till recently FTX sponsored Mercedes.

Earlier in this thread, someone mentioned that it was a little guy who got hurt by FTX. You had very sophisticated investor groups get caught up.


Sequoia Capital marks its FTX investment down to zero dollars • TechCrunch

https://techcrunch.com/2022/11/09/sequoia-capital-marks-its-ftx-investment-down-to-zero-dollars/