Thread: Is Bitcoin an imploding ponzi??...

The stock/option markets are fairly but not perfectly efficient. Occasionally option traders will think they have found free money with various spreads. One of three things usually will happen:

1. The order won't get filled.
2. They will be assigned on the short leg of the trade and the cost to borrow will eat up that free money.
3. They will be assigned on the short leg of the trade and have to pay a dividend that will eat up that free money.

Sometimes you can't afford free.

But this is crypto which is still a young and more inefficient market.

Originally Posted by Damanick Dantes

Accredited investors (usually big institutional players or wealthy people) could profit from buying into GBTC at the trust’s net asset value (NAV). They were subject to a lockup period of six months, but after that, they could then sell their shares for a profit in the open market – locking in any gains from bitcoin as well as capturing the premium as an extra kicker. The 20%-50% GBTC premium also could offset the risk from any potential declines in bitcoin’s price.

Of course, this “Grayscale trade” wasn’t available to retail traders.

Another short-term or medium-term risk is that the GBTC discount widens from current levels.

Record ‘Grayscale Discount’ Might Mean Bargain Bitcoin for Retail Traders

One thing that's often talked about by some in SLV and GLD which are structured like GBTC but hold physical metals sliver and gold is that there really isn't any metal backing them. Or they are only partially backed by metal. DUNNO???

A short medium and long term risk in GBTC is that the coins don't really exist in full or that they go missing. Another risk is the price collapses and the discount to NAV discount closes that way. DUNNO???

LTCN thus far remains the opposite. I'm sure there are people that bankrupted themselves waiting for this premium to close.

LTCUSD | Litecoin USD Advanced Charts | MarketWatch


Do your own homework; and as always relying on tweets, talking heads, or influencers usually ends up a hard way to make a quick buck.

Some days you da windshield other days the bug.

Originally Posted by Rohail Saleem

STOPELON, an altcoin created yesterday, has broken records in the past few hours as the crypto world seems to have turned en masse against Elon Musk, the CEO of Tesla (NASDAQ:TSLA) and a novice influence in the crypto sphere.

STOPELON Coin Explodes Through the Roof as It Aims To Wrest Control of Tesla (TSLA) Away From Elon Musk

Market Cap: $2,750,157
Just a moment...

Slightly more civil than the F-Elon coin with a Market Cap of $6,470,129 as I type.
Just a moment...

I'm still not seeing taking the risk of stealing when you can just create a catchy coin and have people willingly send you millions.

Originally Posted by Michael Kan

“Compared to the same period a year earlier, that’s about 12 times the number of reports and nearly 1,000% more in reported losses,” the FTC wrote in a separate blog post

FTC to Consumers: Be Careful, Cryptocurrency Scams Are Booming | PCMag

Scammers are stealing funds from crypto-newbs

It could happen to anyone...

traders buying ethan allen instead of etherum - Google ፍለጋ

Stimmy bucks hard at work.

Ethan Allen Interiors Inc. (ETH) Stock Forum & Discussion - Yahoo Finance

I sincerely hope people made plans for routs like today beyond a Musk tweet. About that...

Originally Posted by Oscar Williams-Grut

Musk says Tesla has 'diamond hands'
Cryptocurrency prices continue to tumble as bitcoin falls below $35,000

Originally Posted by Jessica Bursztynsky

“To clarify speculation, Tesla has not sold any Bitcoin,” Musk said in a tweet.

Elon Musk clarifies that '''Tesla has not sold any Bitcoin'''

Originally Posted by Luke Conway

Tesla Sold Some of Its Bitcoin for $272M in Q1, Still Holds $2.48B of BTC - The Street Crypto: Bitcoin and cryptocurrency news, advice, analysis and more

I'd wager $2M in Elon impersonator scam losses pales in comparison to the amount people blindly following Musk's tweets on BTC and DOGE have lost. With some probably choking on a slug of the $272M BTC Tesla was selling.

Over $2 Million Crypto Currencies Stolen By Elon Musk’s Impersonators - TechStory

Even $80M feels light with the money some people eagerly gave up in coins they couldn't explain beyond it's going up.

Cryptocurrency Scams Bilk Victims Out Of $80 Million

A young bull and an old bull are standing on a hill when the young bull says...

Originally Posted by Omkar Godbole

Amid the market-wide risk aversion, exchanges offering crypto futures have liquidated $8 billion worth of positions, according to data source bybt.com. Bitcoin futures account for almost 50% of the total market-wide liquidations.

Total liquidations seen in the past 24 hours, however, are still short of the record $10 billion worth of forced closures observed on April 17, when bitcoin fell sharply from $60,000. Since then, the market has mostly seen daily liquidations of less than $4 billion, barring today’s brief spike. Bitcoin Drops Below $31K Before Rebounding; $8B in Liquidations Triggered

Where might something like this happen again when some news hits that scares the buy the F-dip crowd into pulling their bids? Golly that's a tough one.

Margin debt hit another record high in March to top $822 billion, according to FINRA data | Markets Insider

Herein lies a major problem too many people put themselves in when speculating...

Scam That Wasn’t: DeFi100 $32 Million Cryptocurrency Scam Was Fake News And Website Was Hacked

If you have to turn to a random maybe even anonymous website, Facebook type group, or your good horseshoeing buddy Bill to find out about your investment you have put your money in jeopardy.


People making sound investing decisions don't ever have to be told what or how much they bought.

Originally Posted by DEFI100

@DEFI100
·
May 23
1/2 Firstly, Total supply of D100 at present is less than 4 million tokens. At the beginning of the project, total supply was 2.5 million Tokens.
Secondly, D100 was never a yield farming protocol which was holding investors funds with TVL over 32 million.

https://twitter.com/DEFI100

What is the truth in this case I can't say.

Bitcoin price news LIVE - New DubaiCoin rises 1,000% in just 24hrs defying cryptocurrency market slump and Ethereum fall

And it's gone.

Fake DubaiCoin Cryptocurrency Tanks After Government Denies Official Approval - UNILAD

Two Three things about this:

1. It was registered with the SEC
2. They aren't taking lunch money and couch change from 500,000 little investors.
3. It wasn't solicited on social media by unlicensed cryto specialists and ladies in your cross stitching clique.

Originally Posted by Danny Nelson

Some 83 investors pooled their bets (at a minimum of $50,000 each) for a total raise of $102,350,437, the Securities and Exchange Commission (SEC) filings show.

Fidelity Bitcoin Fund Attracts $102M in First 9 Months

As always just because Wall Street is pitching it doesn't mean you should invest, nor however do you have to be a dupe with your money.

Has anyone in history been quoted so much while saying so little?

Originally Posted by Mike Murphy

“Bitcoin crashing. Great news,” tweeted “Rich Dad, Poor Dad” author Robert Kiyosaki on Sunday, saying it provides a good buying opportunity. “When price hits $27,000 I may start buying again. Lot will depend upon global-macro environment. Remember the problem is not gold, silver, or Bitcoin. Problem are the incompetents in government, Fed & Wall Street. Remember gold was $300 in 2000.”

In April, Kiyosaki predicted in an interview that bitcoin’s price would top $1 million in the next five years. Still, he said he prefers gold and silver as an investment, calling it “God’s money.”

Bitcoin is headed toward its worst month since 2011; ‘Rich Dad, Poor Dad’ author says that’s ‘great news’ - MarketWatch

Why buy Bitcoin on a maybe at $27k if it's going to hit $1M in five years??? Why buy BTC at all if Kiyosaki prefers gold and silver as an investment? I remember years back when people went hunting for Rich Dad, and then they went looking for Kiyosakis real estate, the only thing I think anyone ever found was his apparent failure in Amway. And by failure I mean as a distributor not a book peddler.

Originally Posted by Lazy Man

Bill Galvin, found Kiyosaki's book, Rich Dad, Poor Dad, at a car wash before it was published. In fact, Kiyosaki had trouble getting published. ... In addition to the above, Kiyosaki joined Amway under Bill Gavin, but it appears he was a failure at it.

Robert Kiyosaki and Multi-Level Marketing Exposed! - Lazy Man and Money

Robert Kiyosaki - Rich Dad Secrets

Author of Rich Dad, Poor Dad files for bankruptcy

Stupid A$$ Theories of Robert Kiyosaki

Speculation based on news, tweets, or a deal you were pitched on Facebook isn't investing. More like a game of musical chairs at your friend's birthday party, only not a party not your friends and your wallet gets pulled when the music stops.

Originally Posted by Mike Murphy

“Millions of retail investors were really counting on their crypto gains to improve their lives,” a Guy Fawkes-masked figure said in the video. “Of course, they took the risk upon themselves when they invested, and everyone knows to be prepared for volatility in crypto, but your tweets this week show a clear disregard for the average working person.”

Elon Musk’s crypto tweets have ‘destroyed lives,’ says video purportedly from Anonymous - MarketWatch

How sensible is it to put yourself in a heads they win, tails you lose but they still win investing situation?

Maybe Saylor walks away from his BTC purchases looking like a genius, maybe he slinks away a fool. According to Just a moment... he owns 23.7% of MSTR shares which aint nothing. If he's so pot committed to BTC I ask myself why not pledge his shares and take a loan to buy BTC for his own account? Too much money chasing Senior Secured Sorta Kinda Secured-ish Debt may prove a viable answer.

Originally Posted by Jamie Powell

MicroStrategy, a $4.6bn bitcoin asset gatherer masquerading as a tech company, is doing what every gambler is warned against doing: doubling down. After chief executive and large boat enthusiast Michael Saylor spent the weekend at the bitcoin conference in Miami not being a bro, the company announced Monday that it was, you guessed it, raising $400m of senior secured debt to add to its stash of 92,079 bitcoins. The debt will be secured against MicroStrategy’s assets, excluding its current bitcoins and digital assets, which have been parked in a vehicle named MacroStrategy LLC (somewhat ironically, given the seeming lack of macro strategy, or of any strategy at all).
https://finance.yahoo.com/m/4a6e0cb3...les-down.html]

Originally Posted by STEPHEN GUILFOYLE

I do know this. If I wanted to invest in Bitcoin, I would buy Bitcoin. If I wanted to invest in software stocks, I would find one or two with growing sales and invest in them. I would not invest in MicroStrategy with my money and I could not recommend that you do so with yours. I Have Rarely Wanted to Buy a Stock Any Less Than MicroStrategy - RealMoney

Originally Posted by Lawrence Lewitinn March 3, 2021

Back of the envelope

Yet, it should be noted that while MicroStrategy bought bitcoin at $24,063, which now looks like a bargain, it’s a different story for anyone buying MSTR stock now.

The company’s market cap is now about $7.2 billion. As of March 2, $4.4 billion of its assets were in bitcoin. Around the time it first announced its bitcoin buys, MicroStrategy’s market cap was just $1.3 billion. To buy all that bitcoin it now owns, the company at first used some cash, somewhere to the tune of around $425 million. In recent months, it has issued a total of $1.7 billion in convertible notes that, if turned to equity, could add a couple million shares to the nearly 10 million already outstanding (that’s another discussion).

How to Buy Bitcoin at an 80% Premium From Michael Saylor - CoinDesk

I wonder who they might have been selling to?

Wealth manager Ruffer exited $1.1 bitcoin bet amid worries over risk

Cryptocurrency trading is stopping people from looking for full-time jobs: CareerBuilder CEO

Followers of RealScam missed out on all this fun...

Originally Posted by Alexander Osipovich

Consumers reported losing nearly $82 million to crypto scams during the fourth quarter of 2020 and first quarter of 2021, more than 10 times the amount from the same six-month period a year earlier, according to the Federal Trade Commission.

Crypto Frauds Target Investors Hoping to Cash In on Bitcoin Boom - WSJ

A kindred spirit.

Originally Posted by Vitaliy Katsenelson

If you’d like to invest, you have to accept that it’s not a get-rich-fast but a get-rich-slow activity. Once she heard “slow,” I think she lost interest in whatever advice I had to offer.

Opinion | Investing in Cryptocurrency Is No Better Than Gambling | Barron's

Who could have seen the vanishing act coming? It's not as if these days you can just parrot meaningless tripe and people will willingly cough up millions.

Originally Posted by by NewsBTC

LUB token, a new cryptocurrency that is currently shaking up the market

The LUB token is the first cryptocurrency that can be traded directly on the increasingly popular Telegram messenger service. LUB is conquering this 500,000-million-member marketplace, making it a pioneer in an industry already full of innovation.

LUB is an ERC-20 token that is generated via the well-known and secure Ethereum blockchain

LUB - First Crypto Exchange Inside Telegram

If you give a bunch of money to a bunch of kids a bunch of times...

Originally Posted by Cheyenne Ligon

However, shortly after the so-called hack, Africrypt’s founders – 20-year-old Ameer Cajee and 17-year-old Raees Cajee – allegedly transferred the pooled investor funds from an account at Johannesburg-based First National Bank (FNB) and disappeared to the U.K. Founders of South African Crypto Investment Firm – and $3.6B in Bitcoin – Are Missing - CoinDesk

However, the government’s ability to investigate the matter is constrained by the lack of regulatory framework on digital assets in South Africa, which does not consider cryptocurrencies a financial product.

Less sweaty than robbing stagecoaches this new paradigm in money.

Originally Posted by Black Bart

Here I lay me down to sleep
To wait the coming morrow,
Perhaps success, perhaps defeat,
And everlasting sorrow.
Let come what will, I'll try it on,
My condition can't be worse;
And if there's money in that box
'Tis munny in my purse.
Black Bart (outlaw) - Wikipedia

Originally Posted by Hollaback Sally Rides Again 1/24/2021

Corporate is going mad about buying, volume and therefore liquidity is through the roof.
Wall street has entered the game.

The fund below comprising a basket of "crypto" stocks reached it's high current high print of $37 on the first day it was dumped sold publicly. Right now it's at $24.

Originally Posted by Van Eck

Fund Description

VanEck Vectors Digital Transformation ETF (the “Fund”) seeks to track as closely as possible, before fees and expenses, the price and yield performance of the MVIS Global Digital Assets Equity Index (the “Index”), which is intended to track the performance of companies that are participating in the digital assets economies. https://www.vaneck.com/us/en/investm...tion-etf-dapp/

Originally Posted by Hollaback Sally Rides Again 1/24/2021

It was indeed foolish to miss a 1000% return. I mean do you guys hate money or what?
Don't make the same mistake twice.
At least get some Bitcoin and ETH.

ETH Price $1368.90 1/24/2021
ETH Price $1829.95 Today

BTC Price $32,285.73 1/24/2021
BTC Price $32,641.88 Today

Originally Posted by To the Moon Sally 1-26-2021

Sure, I'm the moron. See you at $100,0000

I'm going to give Sally a lot of credit since ETH rose to $4K and BTC $64K after his insult filled tirade-ical homecoming. If people had bought Sally's witty return and sold shortly thereafter they would have netted a tidy return. Now prices are back to a tittle more than when he briefly drove by to regale us with wisdom. What now brown cow? Buy, Sell, Hold? Sally?

A major problem it can become investmenting/trading on advice absent one's own well constructed plan.

Originally Posted by Sally the Barista 02-05-2021

I'm gonna have so much fun when I return to serve a tall glass of "I told you so".

Will this be served with one of those F*&KING cardboard straws?