Monitoring the Crypto Bubble

Where do you think we are in the crypto bubble?

  • Total voters
    147
mmm....shiney! said:
View attachment 61873
Click to expand...
Just today I wanted to pay my gas bill, which was $200, so I rang up my service provider and told him I'd give him 200 bananas, because bananas trade for $1 at my local shop. He told me to fuck off and hung up. Weird.

This is going to sound sarcastic given we're on a gold forum, but I assure you it isn't - if you don't understand why things aren't priced in bananas, you should read books which explain the gold standard and how it functioned.

Just because I can sell 30 bananas for $1 and buy an ounce of silver doesn't mean silver is priced in bananas. The people on the other end of the transaction are selling you couches or letting you pay your BPAY bill with dollars. You then hire this third party to turn your Tethers into dollars. It's just like turning bananas into dollars via a third party. Silver is not priced in bananas and your gas bill cannot be paid in Tether. Nobody is selling you a couch in Tethers. Nobody is letting you pay your gas bill in bananas. Selling your 200 bananas to the local shop for $1 each, then paying your $200 gas bill in dollars, does not mean gas is priced in bananas.
satoshi.png


Now let's get back to the main point.

1. I show you last week how it is not only likely but probably Tether is running a fractional reserve Ponzi scheme
2. You say something about fractional reserve being a good thing, who cares if its antithetical to Bitcoin and if they lied every step of the way and were only forced to reveal what they were doing by the authorities
3. This week, one of their partners explains step by step how Tether is running a fractional reserve leveraged Ponzi scheme
4. Tether says "yes we are running a fractionally reserved leveraged Ponzi scheme but old news everyone already knew this"
4. You say "but I can buy a couch by selling USDT to a third party, who buys Bitcoin with my USDT and sells it for AUD to someone for dollars, and then gives those dollars to the person taking dollars, that means theres no problem and I'll ignore the rest of your post"

Please. Just address the issue at hand. I showed you how and why Tether is probably a Ponzi, and today one of Tether's cronies (who Tether is a major shareholder of) said "sure here's this thing we do that looks exactly like a leveraged fractional reserve Ponzi scheme which manipulated the price of BTC", and says that on record to the FT, the FT says to Tether "hey are you a fractional reserve Ponzi scheme manipulating the price of BTC" and Tether says "yeah of course this is true but its old news stop talking about it". Let's talk about it.
 
Last edited:
Aelfred said:
This is going to sound sarcastic given we're on a gold forum, but I assure you it isn't - if you don't understand why things aren't priced in bananas, you should read books which explain the gold standard and how it functioned.
Click to expand...

I'll have to dust of my copies of Ayn Rand and refresh myself on why goldbugs think a commodity backed currency limited by physical availaibility is actually a positive move in the modern era. Oh that's right, she wrote novels over half a century ago.

You said:

You can't buy furniture, you can't buy goods and services, nobody prices any real tangible object in Tether - you can only exchange it for crypto.
Click to expand...

Now that we've gotten that out of the way....
 
Aelfred said:
1. I show you last week how it is not only likely but probably Tether is running a fractional reserve Ponzi scheme
Click to expand...

Ponzi: is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. Tether doesn't meet my Ponzi criteria.

Aelfred said:
2. You say something about fractional reserve being a good thing, who cares if its antithetical to Bitcoin and if they lied every step of the way and were only forced to reveal what they were doing by the authorities
Click to expand...

Point out to me where BTC is antithetical to the FRB system? Is it because a FRB system is centralised? Bit like a gold standard I suppose? Use the lightning network then where you can pay for stuff like lounge chairs, coffee or services instantaneously with BTC. Or better still, use both it and a FRB payment system, depending upon the circumstances.

The lying bit or whatever is of no concern to me, nor many others. As I've said before. Neither is leveraging.

And I'll just ignore the rest because it's more Ponzi, Ponzi, Ponzi.
 
Is Hindenburg research credible?

"Hindenburg Research" is not a real "research" firm, but a firm that disseminates alleged analysis to depress the share price of companies it has previously sold short. So it is not about independent information about companies, but about the targeted pushing of share prices for their own enrichment.
Click to expand...

haters gonna hate.
 
Charts looking good and little pullbacks on the daily are bullish and nothing to worry about.

A good time to let it ride and see what happens IMO. Hopefully it shoots up again and I can buy some gold with the winnings. I'm up a half an oz so far since the last rebuy so I'm happy with that. Free gold is always nice!
 
Looks like Shiba forming a bull pennant and might break out. I might have to check that one out. Never know when a random coin might gain a bunch.
 
Experts are watching the 66 k limit to see if it goes through and heads higher. If not, there's a chance for a correction.

If goes down to 50 k even, it will be a rare buying opportunity (perhaps it will never fall this low again) and 20-30 k would be a tremendous gift for those who missed previous buying opportunities.
 
TreasureHunter said:
Experts are watching the 66 k limit to see if it goes through and heads higher. If not, there's a chance for a correction.

If goes down to 50 k even, it will be a rare buying opportunity (perhaps it will never fall this low again) and 20-30 k would be a tremendous gift for those who missed previous buying opportunities.
Click to expand...


2Ok
huh.jpg
 
You must log in or register to reply here.
Back
Top