/biz/ - Business & Finance

>>13598314
they already have enough btc in the safu fund...

>>13598314
Lmfao even if this were the case, people still have paper btc in their wallets right now and could sell right now.

Good I hope it goes back down to $3800 where I bought in and stays there for at least another year so I can continue to accumulate

>>13598389
Personal stacks are not the safety funds.

Safety funds are held in FIAT.

Binance needs to purchase 40 million if Bitcoin using FIAT this week.

>>13598405

People are waiting for adoption and a legit bullrun.

This is not it.

Biggest exchange gets hacked and people want a bullrun. Please.

>>13598441
Their daily trading volume is like 10x the amount they need to buy so it wouldn't move the market significantly, but realistically they probably would just get it OTC...

>>13598470

There are so many crypto key players that are deciding to help out Binance this week. They are using BTC.

This is NOT a legit bullrun.

I wonder if any BIG players will sell after Binance withdraws are back also.

The Biggest exchange just got hacked and THEY WILL NOT ALWAYS BE ABLE TO COVER EVERYONE regardless of what people want to believe.

>>13598489

How close you are to liquidation you degen ?

>>13598548
I don't short Bitcoin.

>>13598314

>However this doesn't mean peple WONT SELL

You can sell now faggot. You can sell Btc to any alt or stable coin literally RIGHT THIS SECOND on Binance.

ABSOLUTE BRAINLET.

>>13598583
withdrawls of btc locked for a week

Binance and Bitfinex exit scamming.

>>13598583

https://www.reddit.com/r/binance/comments/bna5kh/deposits_and_withdrawals/

kek literally FIRST reddit post on Bitcoin reddit.

They are locked.

>>13598314
https://cryptopotato.com/bitcoin-touched-7000-two-things-to-be-worried-about-price-analysis-overview-may-11/

>>13598314
>What is OTC; the thread

>>13598314

the market cap for btc has increased by 10 billion in the last day.

>>13598627
What part of "you can sell" don't you understand? Fucking degenerate jew. He never said anything about transferring what you sold to another exchange / wallet. Let's see you "day" trade on your own wallet.

>>13598627
Kek

>>13598314
Lol bitcoin has a daily volume of billions dumbass, $40 Million can’t cause such a price increase, it was already mooning even before the hack.

Kys faggot

Fuck you and your faketoshi friends

>>13598708
top kek. HAHAHAA but he forgets his crypto is on Binance.

>>13598681
have fun on Binance then. Don't get "hacked"

>>13598489
BTC was mooning even before the hack, kys faggot

>>13598715
Volume of trading back and forth between bots. NOT NEW MONEY. Fucking idiot.

Also there's more than 40 million because everyone is starting the "Save Binance" go fund me this week.

>>13598742
Are you rich yet from all that prior "mooning"?

Didn't th

>>13598314
>>13598441
Or they dump tons of BNB

Or they have enough spare btc

or they do a mix of all 3

>>13598314
Is that why Bitcoins market cap is up $30 billion? Because of the $41 million that “Binance is buying”? How fucking stupid are you? $41 million wouldnt even put a dent in the gains that we have seen.

When you TYPE in caps every ONCE IN A WHILE, it seems to make your POINT clearer!

This guy is pissed off he missed this leg up. Cry elsewhere you faggot.

>>13599485
I’m glad to see my btc up, but comments like this got me worried again. Jesus Christ, if it’s up due to manipulation, I’d rather be aware so I can plan my exit accordingly, but denial to this degree (BINANCE IS NOT SHADY AS FUCK NO SIR TRUST A CHINK COMPANY SET UP IN FUCKING MALTA) is a big concern to me. Fuck what should I do.

>>13599528
I said nothing about trusting Binance you room temperature IQ dolt. Purely going by the numbers, even if the hack was 100x worse than CZ is letting on, and he is frantically buying BTC to cover the losses that leaves $26 BILLION in BTC during this pump that has nothing to do with Binance. This is with me grossly exaggerating the numbers to try and make OPs retarded theory work. Sure Binance might be doing sketchy shit, but there is no way they are manipulating this pump. Its unlikely they are even having a measurable impact just going by the amount of money that would be required to move the market cap this much.

>>13599485
Yeah if bitcoin's marketcap is up by $30b that means $30b entered the market :o)

>>13599663
No you are right. Bitcoin being up $30 billion doesnt mean its new money entering the market. However the total market cap of crypto went from $175 billion to $205 billion during that time. THAT is new money. Try again faggot.

>>13599687
What you're failing to understand is that marketcap is the market price multiplied by the circulating supply. It doesn't literally take $30b to move the mcap by $30b. Where does most of bitcoin's volume come from? OwO what's this? It comes from a coin minted by a company recently caught in a huge scandal? The same coin CZ has been shuffling about in the hundreds of millions since the news broke? No, you're right though. This pump is definitely new money eager to enter the market with all this good news and positive sentiment.

>>13599663
that guy has finally figured it all out

>>13598441
They keep 10% of each crypto they collect fees on. So they've actually got a pool of many different tokens in the "SAFU". They don't move it to Fiat or trade/convert tokens unless necessary.

They may need to trade some tokens to BTC to make up the loss, but the math on the "10% of profits" over the period of time they started the SAFU makes it likely they've already got the BTC reserve to cover it. The number is actually pretty big.

All well run crypto companies have done something like this since 2012/2013. It's critical because traditional insurance is impossible and it eliminates additional counterparty risk introduced by any third-party solution. That 10% of profits is miniscule to the owner dividends. And these owners are not used to making nearly as much money as before they got into crypto.

The problem is this requires that the owners and management be trustworthy. So here's hoping.

>>13598441

40million would barely affect the price at all you retard

>>13599726
>shuffling in hundreds of millions
You realize most crypto is a public ledger right? Why dont you show me the $30 BILLION in tether? Go ahead, show me the transactions. I will wait. Im not saying CZ isnt doing shady shit. Im saying the shady shit he is doing doesnt account for what we are seeing.

>>13599772
Either you're a moron or you're trolling. It doesn't take even a billion dollars to move bitcoin's mcap by $30b. All you need is enough money to clear the sell side of the order books up to the current price. It's not just CZ jumping ship either. Anyone in the know is gonna get the fuck out while people are still dumb enough to trade their BTC for USDT.

>>13599771
Lmfao, well there goes your $200 bucks ey sir.

>>13599663
You win the stupidest reply.

Unless you were being sarcastic.

Look at the Binance reddit. All the idiots are panicking to sell as soon as they can once Binance is back. LOL There goes your moon.

>>13600652
>guys le reddit is going to sell and thus your moon is cancelled
bravo

>>13598583

There is not enough stable coins to keep the peg if buyers decide to sell in mass.

>>13600652
>idiots
pretty sure if I had money on Binance (i don't) I'd be panicky too, fuck that shit

like 40M means anything in this market ...

>>13598314
>>13598441
>>13598465
>>13598489
>>13598563
>>13598610
>>13598627
>>13598725
>>13598739
>>13598748
>>13598756
>>13600546
>>13600556
>>13600652
Holy shit, take your meds, Craig.

>>13601447
Yeah christ dude is writing like hes from reddit too