Tether bullrun or exitscam? Some thoughts and bigger picture
Well, you already know how I feel about all of this and how this has come about. If you read my other idea, tether has actually printed another billion fake dollars in the meantime and injected it into the system and actually are buying bitcoin with it... No bull was telling you that about that, right? There are major fundamental problems with the underlying price of crypto, ignore it and one day you might not only see a negative portfolio, but a blank webpage.
To remind you again, many of those smaller exchanges are probably going to exitscam, including a few big ones. Quadriga is already done, but there will be other big ones as well, like Bitfinex, Binance and/or Kraken. Wait long enough to see how price can drop several K's within an hour, it's actually not something new and is not exclusive to crypto.
Liquidating every single crypto for fiat and I'm out of this sick manipulated fraud market. I've actually broke my own rule by shorting too prematurely when I explicitly wrote a few times at 2 April to not short this at all, although it was a hedged short, it's still painful and I'm done with it. Crypto community has been extremely toxic last few months, exactly what I've wrote over a year ago, but exceeded my expectations. I will not have any regret if this pumps much higher or to new ath, not at all, when other markets are way better tradeable instead of being stuck in a huge pnd, with extreme uncertainty 24/7 if it doesn't dump or exchanges are being raided and all money is gone. In fact, I'll get my life back and be free in the weekends, playing with bigger cap where you actually can scalp and be done with it within 30m instead of being scammed with a huge dildo with crypto after weeks of waiting, all done in 15-30 minutes. When you got a stop buy or sell, you get wicked out with a 20-50% wick single order to get filled at the top or bottom, I'm really sick of this bullshit. When there is a flashcrash, exchanges like Bitstamp pretend they care and are investigating it, but when a huge pumpwick happens, it's all silent, the hypocrisy. But you already know why they all carry the hodl-meme, which reinforces the counterparty's argument that crypto is absolute dogshit and has no value (zero). If you wanna hodl and not use it, then be my guest and hodl to 0. If crypto is not going to be used, wtf is the point in hodling it. Another hypocrisy is that hodlers are in it for the tech, that's such a bs, they are all here for the $, but they don't realize or are not honest that it was done mainly by tether and exchanges and that their ultimate goal is $ as well and what do you think will happen in a negative/zerosum game. Next to that, tech gets obsolete fast, anybody who ever worked in tech (hardware or software) knows this full well. If crypto is going to have a future, it needs adoption and be used. My toiletpaper has actually more value than most of shitcoins. Even if we go Mad Max style and even if there was affordable internet and electricity, if anything at all and even if crypto was to be used, prepare to get robbed or killed for a dogecoin.
People laughed at me for saying that exchanges were pumping entire market for years, whether the money existed or not (tether, customer funds or with no money at all (i.e. MtGox). Well, in last court hearing, it's now been proven that exchanges like Bitfinex and others buy bitcoin on their own exchange. Conflict of interest much, trading against clients.
But I don't think those bigger crook exchanges are going to get away with fraud. They most likely will get the max punishment (because they know full well and planned this a long time ago), i.e. under the Patriot act otherwise Rico, so we can expect employees and ceos to get long prison sentences, like what happened with Liberty Reserve, 20 years of prison and total asset forfeiture. Some who read this are probably complicit in this conspiracy and massive fraud having destroyed a lot of people's lives, then I have a question for you: I know you live in the now and not thinking about the future, so when you get stripped naked and put to jail and when you're released and are then financially and socially destroyed for the rest of your life, please come back to me to tell me if this was worth it.
If there was no manipulation since Bitcoinica to MtGox to Bitfinex to Binance, then most people would probably never heard of bitcoin, because price would have never pumped to $20k. On the other hand, there is a big possibility that this entire crypto goes in the history books as the biggest fraud in known human history and flushed down the toilets soon, i.e. to balance one extreme with the opposite.
Needless to say, I'm done with this shitty crypto market. It's become a disease for body, mind and soul since not only are you playing vs the house with unlimited fake money that can put green dildos of 300% in matter of no time, you risk of losing every single cent in a raid or exitscam, which I feel is already happening and majority to come. Next to that, most people in crypto are so extremely toxic and can't think and feel for themselves that I feel stuck in a sea of kindergarten. I've noticed a pattern, especially in crypto, that is that most if not all people will not listen, no matter what you say, they rather listen to strangers even when you fully speak your mind without anything hidden that fully comes out time after time, they rather get burned, disappointed, learning nothing to do it all over again. This I've encountered a long time ago when I was awake when I wanted to help people, it was totally impossible. When I gave up forcing people to help themselves and instead inspire them, that's where the change came, BUT, it's always a very few out of hundreds of people. Well, if you can help at least one soul, that's good enough.
Anywho, I'm pretty sure I'm not the only one thinking and feeling all of this. Better quit crypto, don't come back and see if those exchanges still exist after it's regulated or better yet, if crypto still exist (especially Bitcoin - it would not surprise me to see a BSV flippening and outperforming Bitcoin (Core)). I highly doubt most exchanges you know today still exist (timeframe < 2021, possible extension to 2024). And yeah, I say this after it's pumped almost 300%, better get out before a potential bankrun and don't regret if you do not get the top, because that says more about you than me, especially when you get all emotional about it and that all for greed, amazing.
We are again in a bubble (within a bubble), exchanges pumping their own (empty) books while they washtrade in consolidation areas to create huge volume when there is no new big money coming in. See the on-chain data on the blockchains, oh the irony of scamming people to manipulate their perceptions like that Pomp shill.
I would have been bullish if we completed the pattern to 2-2.2k and seeing a proper bottoming with characteristics of one, but no, let's pump 300% from 3k to 9k, initiated by that bullshit "100m mystery buy order" fakenews, when I knew and wrote about in my previous idea that it was exchanges and people still to this day believe it's fresh money coming in and whales are doing this... Are you kidding me? Whales (lucky early adopters or hedge funds) are the very targets of the orca whales (exchanges and cartel of manipulators), I've written about this a long time ago, which makes absolute sense. The target is not the small money anymore, think about it. Once almost everyone knows about something, it's over. They took the wrong bet by trying to manipulate public sentiment and they horribly failed. People already knew about it and if they weren't in before, they aren't now. Don't buy the retail think of that every joe smoe comes in at 20k, that's complete bullshit. I've talked about this a lot with friends how fomo actually can be extremely rewarding vs trading using TA when you actually know potential targets beforehand. It's absolutely the fastest way to make money and most of the time it's a lot of %. Don't believe everything people say, most of them try to be wise when they are full of shit (not even traders, but analysts...). Anywho, all they did was to ensure their own coming destruction, hope it was worth it. You won't buy a lambo when in jail, nor do you when you get out of it. I've posted this a while back, but it could have been avoided, now it's way too late and it's a one way ticket to hell.
Good luck and stay away from this market. Targets are marked as horizontal lines:
Blue = aggressive buys
Green = Safe buys
Scale in per target block, don't go all in and do not leave any money on the exchanges. When it's time, buy and sent to private wallet.
To remind you again, many of those smaller exchanges are probably going to exitscam, including a few big ones. Quadriga is already done, but there will be other big ones as well, like Bitfinex, Binance and/or Kraken. Wait long enough to see how price can drop several K's within an hour, it's actually not something new and is not exclusive to crypto.
Liquidating every single crypto for fiat and I'm out of this sick manipulated fraud market. I've actually broke my own rule by shorting too prematurely when I explicitly wrote a few times at 2 April to not short this at all, although it was a hedged short, it's still painful and I'm done with it. Crypto community has been extremely toxic last few months, exactly what I've wrote over a year ago, but exceeded my expectations. I will not have any regret if this pumps much higher or to new ath, not at all, when other markets are way better tradeable instead of being stuck in a huge pnd, with extreme uncertainty 24/7 if it doesn't dump or exchanges are being raided and all money is gone. In fact, I'll get my life back and be free in the weekends, playing with bigger cap where you actually can scalp and be done with it within 30m instead of being scammed with a huge dildo with crypto after weeks of waiting, all done in 15-30 minutes. When you got a stop buy or sell, you get wicked out with a 20-50% wick single order to get filled at the top or bottom, I'm really sick of this bullshit. When there is a flashcrash, exchanges like Bitstamp pretend they care and are investigating it, but when a huge pumpwick happens, it's all silent, the hypocrisy. But you already know why they all carry the hodl-meme, which reinforces the counterparty's argument that crypto is absolute dogshit and has no value (zero). If you wanna hodl and not use it, then be my guest and hodl to 0. If crypto is not going to be used, wtf is the point in hodling it. Another hypocrisy is that hodlers are in it for the tech, that's such a bs, they are all here for the $, but they don't realize or are not honest that it was done mainly by tether and exchanges and that their ultimate goal is $ as well and what do you think will happen in a negative/zerosum game. Next to that, tech gets obsolete fast, anybody who ever worked in tech (hardware or software) knows this full well. If crypto is going to have a future, it needs adoption and be used. My toiletpaper has actually more value than most of shitcoins. Even if we go Mad Max style and even if there was affordable internet and electricity, if anything at all and even if crypto was to be used, prepare to get robbed or killed for a dogecoin.
People laughed at me for saying that exchanges were pumping entire market for years, whether the money existed or not (tether, customer funds or with no money at all (i.e. MtGox). Well, in last court hearing, it's now been proven that exchanges like Bitfinex and others buy bitcoin on their own exchange. Conflict of interest much, trading against clients.
But I don't think those bigger crook exchanges are going to get away with fraud. They most likely will get the max punishment (because they know full well and planned this a long time ago), i.e. under the Patriot act otherwise Rico, so we can expect employees and ceos to get long prison sentences, like what happened with Liberty Reserve, 20 years of prison and total asset forfeiture. Some who read this are probably complicit in this conspiracy and massive fraud having destroyed a lot of people's lives, then I have a question for you: I know you live in the now and not thinking about the future, so when you get stripped naked and put to jail and when you're released and are then financially and socially destroyed for the rest of your life, please come back to me to tell me if this was worth it.
If there was no manipulation since Bitcoinica to MtGox to Bitfinex to Binance, then most people would probably never heard of bitcoin, because price would have never pumped to $20k. On the other hand, there is a big possibility that this entire crypto goes in the history books as the biggest fraud in known human history and flushed down the toilets soon, i.e. to balance one extreme with the opposite.
Needless to say, I'm done with this shitty crypto market. It's become a disease for body, mind and soul since not only are you playing vs the house with unlimited fake money that can put green dildos of 300% in matter of no time, you risk of losing every single cent in a raid or exitscam, which I feel is already happening and majority to come. Next to that, most people in crypto are so extremely toxic and can't think and feel for themselves that I feel stuck in a sea of kindergarten. I've noticed a pattern, especially in crypto, that is that most if not all people will not listen, no matter what you say, they rather listen to strangers even when you fully speak your mind without anything hidden that fully comes out time after time, they rather get burned, disappointed, learning nothing to do it all over again. This I've encountered a long time ago when I was awake when I wanted to help people, it was totally impossible. When I gave up forcing people to help themselves and instead inspire them, that's where the change came, BUT, it's always a very few out of hundreds of people. Well, if you can help at least one soul, that's good enough.
Anywho, I'm pretty sure I'm not the only one thinking and feeling all of this. Better quit crypto, don't come back and see if those exchanges still exist after it's regulated or better yet, if crypto still exist (especially Bitcoin - it would not surprise me to see a BSV flippening and outperforming Bitcoin (Core)). I highly doubt most exchanges you know today still exist (timeframe < 2021, possible extension to 2024). And yeah, I say this after it's pumped almost 300%, better get out before a potential bankrun and don't regret if you do not get the top, because that says more about you than me, especially when you get all emotional about it and that all for greed, amazing.
We are again in a bubble (within a bubble), exchanges pumping their own (empty) books while they washtrade in consolidation areas to create huge volume when there is no new big money coming in. See the on-chain data on the blockchains, oh the irony of scamming people to manipulate their perceptions like that Pomp shill.
I would have been bullish if we completed the pattern to 2-2.2k and seeing a proper bottoming with characteristics of one, but no, let's pump 300% from 3k to 9k, initiated by that bullshit "100m mystery buy order" fakenews, when I knew and wrote about in my previous idea that it was exchanges and people still to this day believe it's fresh money coming in and whales are doing this... Are you kidding me? Whales (lucky early adopters or hedge funds) are the very targets of the orca whales (exchanges and cartel of manipulators), I've written about this a long time ago, which makes absolute sense. The target is not the small money anymore, think about it. Once almost everyone knows about something, it's over. They took the wrong bet by trying to manipulate public sentiment and they horribly failed. People already knew about it and if they weren't in before, they aren't now. Don't buy the retail think of that every joe smoe comes in at 20k, that's complete bullshit. I've talked about this a lot with friends how fomo actually can be extremely rewarding vs trading using TA when you actually know potential targets beforehand. It's absolutely the fastest way to make money and most of the time it's a lot of %. Don't believe everything people say, most of them try to be wise when they are full of shit (not even traders, but analysts...). Anywho, all they did was to ensure their own coming destruction, hope it was worth it. You won't buy a lambo when in jail, nor do you when you get out of it. I've posted this a while back, but it could have been avoided, now it's way too late and it's a one way ticket to hell.
Good luck and stay away from this market. Targets are marked as horizontal lines:
Blue = aggressive buys
Green = Safe buys
Scale in per target block, don't go all in and do not leave any money on the exchanges. When it's time, buy and sent to private wallet.
Comment:
P1/2
The answer did come not too long after last update. This is WHY.
Q: "I'm not even talking about the energy consumption, why has the UN not stood up?"
A: www.forbes.com/sites...thereum-crypto-fund/
twitter.com/UNICEF/s.../1181840469883404288
Q: "... and billboards in remote places in Africa to promote crypto, good game, well played, time to wake up."
A: cointelegraph.com/ne...ad-bitcoin-in-africa
Quote out of that article from Forbes:
"Three months later, the crypto fund prototype was ready. According to the final fund description presented to UNICEF execs before today’s launch, the fund is limited to no more than 1,000 bitcoin, or about $8.1 million and 10,000 ether, or about $1.7 million. In total, the Innovation Fund manages $17.9 million, not counting today’s crypto donation, and has already received a commitment of an additional 8,000 ether, worth about $1.4 million at today’s price, from a single donor. Importantly, the fund will not convert the cryptocurrency into U.S. dollars or any other fiat currency."
>> "Importantly, the fund will not convert the cryptocurrency into U.S. dollars or any other fiat currency."
The answer did come not too long after last update. This is WHY.
Q: "I'm not even talking about the energy consumption, why has the UN not stood up?"
A: www.forbes.com/sites...thereum-crypto-fund/
twitter.com/UNICEF/s.../1181840469883404288
Q: "... and billboards in remote places in Africa to promote crypto, good game, well played, time to wake up."
A: cointelegraph.com/ne...ad-bitcoin-in-africa
Quote out of that article from Forbes:
"Three months later, the crypto fund prototype was ready. According to the final fund description presented to UNICEF execs before today’s launch, the fund is limited to no more than 1,000 bitcoin, or about $8.1 million and 10,000 ether, or about $1.7 million. In total, the Innovation Fund manages $17.9 million, not counting today’s crypto donation, and has already received a commitment of an additional 8,000 ether, worth about $1.4 million at today’s price, from a single donor. Importantly, the fund will not convert the cryptocurrency into U.S. dollars or any other fiat currency."
>> "Importantly, the fund will not convert the cryptocurrency into U.S. dollars or any other fiat currency."
Comment:
P2/2
Some questions:
1) Out of all of crypto, why are the United Nations not creating their own crypto as a means of payment?
>> Is it because they have personal interest by already having a stake beforehand? I.e., are they securing by means of power and control crypto?
>> Is it to enrich/insure the crooks that own most of crypto? Study the history of bitcoin, who owns what, how was price manipulated at the very start and by who and it goes beyond mtgox or now binance. Normal people or entrepreneurs do net set up structures like finex/tether did as shown in the Panama papers. It requires a lot of powerful connections.
>> Now it even feels more like a pyramid scheme from the get go.
2) How can a hard capped currency be any good for future generations, aka children you claim to help worldwide, when the rich save while the very poor have to give it away, furthering the wealth of the very rich. It's the ANTITHESIS of EQUALITY. Why so hypocritical? Why you introduce something completely 180* of the stance of the United Nations motto, vision and mission?!
It does NOT take a rocket scientist to UNDERSTAND and KNOW those things I'm speaking of, that is, if you use COMMON SENSE. If everything is energy and more people come in the world => more energy required, then why you use and promote ponzi/pyramid schemes that are are contracting instead of expanding?! The deflationary nature of crypto you own means working people are assured PEASANT STATUS (as in medevil time) in the future, instead of having their basic meets met.
3) Why are you not converting it to fiat? Are you investors or are you using your undemocratic powers to force the crypto you have as legal tender in the future? This godcomplex is typical for aquarians, thinking they know better how other people should live, while their own house is a mess. Guess what, you won't transcend anything and make it worse for your own in the future. Think less, feel more and you relate with your fellow human beings.
I've no problem with crypto being used as money or legal tender in the future. I do have problems with people who are dishonest, liars/manipulators, thieves and people who control others, especially when it's against their will.
So then, this implies something to be done with the illicit hodling of funds, no? I'm talking about criminals and exchanges. Yeah, that's right, I guess it's a big no to that rhetorical question.
Well, I learned something from this. I was right for all those years on my initial thought which was strong, but rationalized it wasn't so, because of peer pressure, despite feelings as well. Now I know, groupthink is dangerous af and one should be in solitude to see and think clearly, otherwise disappointment is a reality not far fetched and oh boy, I'm disappointed. /rant
Some questions:
1) Out of all of crypto, why are the United Nations not creating their own crypto as a means of payment?
>> Is it because they have personal interest by already having a stake beforehand? I.e., are they securing by means of power and control crypto?
>> Is it to enrich/insure the crooks that own most of crypto? Study the history of bitcoin, who owns what, how was price manipulated at the very start and by who and it goes beyond mtgox or now binance. Normal people or entrepreneurs do net set up structures like finex/tether did as shown in the Panama papers. It requires a lot of powerful connections.
>> Now it even feels more like a pyramid scheme from the get go.
2) How can a hard capped currency be any good for future generations, aka children you claim to help worldwide, when the rich save while the very poor have to give it away, furthering the wealth of the very rich. It's the ANTITHESIS of EQUALITY. Why so hypocritical? Why you introduce something completely 180* of the stance of the United Nations motto, vision and mission?!
It does NOT take a rocket scientist to UNDERSTAND and KNOW those things I'm speaking of, that is, if you use COMMON SENSE. If everything is energy and more people come in the world => more energy required, then why you use and promote ponzi/pyramid schemes that are are contracting instead of expanding?! The deflationary nature of crypto you own means working people are assured PEASANT STATUS (as in medevil time) in the future, instead of having their basic meets met.
3) Why are you not converting it to fiat? Are you investors or are you using your undemocratic powers to force the crypto you have as legal tender in the future? This godcomplex is typical for aquarians, thinking they know better how other people should live, while their own house is a mess. Guess what, you won't transcend anything and make it worse for your own in the future. Think less, feel more and you relate with your fellow human beings.
I've no problem with crypto being used as money or legal tender in the future. I do have problems with people who are dishonest, liars/manipulators, thieves and people who control others, especially when it's against their will.
So then, this implies something to be done with the illicit hodling of funds, no? I'm talking about criminals and exchanges. Yeah, that's right, I guess it's a big no to that rhetorical question.
Well, I learned something from this. I was right for all those years on my initial thought which was strong, but rationalized it wasn't so, because of peer pressure, despite feelings as well. Now I know, groupthink is dangerous af and one should be in solitude to see and think clearly, otherwise disappointment is a reality not far fetched and oh boy, I'm disappointed. /rant
No interest above $4100 to trade and no interest to buy with serious money before 3 digits. This echo bubble changed my perspective, it's even more bearish than ever before in my view. Was hoping for a sustainable accumulation trading zone with completion of the macro pattern of the break of 6k.
Arguments are given in previous ideas, regarding market maker vs cash inflow and manipulation. Very possible and most likely Finex/Tether playing the pion of this giant financial AND social experiment, hence no repercussions of manipulation, lies, etc, read: playing the other side as the bad guy, when both sides play for the same master. They can take down e-gold and liberty reserve and put them in jail, but they can't do anything for a decade against this, sure. Bloombrg doing their part as well. You not gonna tell me some basement kid or some multinational could have pulled off what happened before the peak of 2017 worldwide at the same time on their televisions and billboards in remote places in Africa to promote crypto, good game, well played, time to wake up.
Humanity going more towards equality and that becomes more apparent with time passing in every field. Bitcoin is the exact opposite of equality and in my eyes, a continuation of the current financial slaverysystem, but much, much more worse. With inflation, the very poor and new born children have at least some opportunity, while with a deflationary system, the rich won't spend, while the very poor have to spent most if not all, to stay alive.
I'm not even talking about the energy consumption, why has the UN not stood up? Unless it's a plan much bigger that fits their agenda until they crash this ponzi/pyramid to the ground and before we get nice buy targets for an incredible % bounce with low risk like Lehman Brothers did, exchanges probably won't exists, but it might be worth the risk if you can buy it, still, because even Lehman did a whopping 80000% bounce.
Chart: