/biz/ - Business & Finance

And I was worried I was buying the top at 30k lmao I've never seen anything so bullish!

>>25687297
NEW PARADIGM!!!!

>>25687297
Thanks for helping genocide the bobos

>>25687323
kek
fuck shorters

>>25687309
I always enjoy your posts and find them memorable, GEQcu29f.

>>25687217
Satoshi.

The man who is overthrowing the greatest power structure in history, without firing a single bullet.

39,900 already... Man that dip really got bobo's hopes up, now they have been ruthlessly crushed a short time later

Where's the re-crash at 40k?

>>25687626
fuggen saved

>>25687974
waiting room theme: https://youtu.be/ZksH2sIQdJ8?t=34

>40,950 hit all fucking ready
yeah I'm thinking I should have made this a 45k waiting room instead

41k is here

Holy shit it just rocketed past 40k to 41k.

>>25688084
incredibly based.

couldn’t sleep tonight, checked Binance app and watched it surge from like 39.5 to 40k in like 10 seconds. Now 41k? This is surreal

somebody just paid fourty one thousand us dollars (41 000 usd) for one bitcoin

>>25688158
>and that's a GOOD thing

>>25688158
>>25688084
I could only afford 0.28BTC at 30k. Will I make it anons?

Its dropping.

>>25687217
I'm a bull but actually not happy with that at all. I wish we could establish a strong psychological bottom. Right now it's at 20k. I don't want to crash down there again

>>25688217
No

>>25687217
Hahaha I buyed.

Now I cumed

if I cash out right now i could pay all my debts at once, but i wont because i believe in bitcoin, i believe it will be 100K in several months, i believe this can finaly free me from wage-cucking and also im running out of my pills

>>25688284
Why?

>>25688245
wallah it's up again... You don't still think down swings that are measurable in the hundreds of dollars are meaningful when it's in pump mode do you

>>25688418
based

41,400 dollarydoos... we will definitely have a 10k day sometime this year.

I only trade stonks, but this bubble.is fascinating to watch. I'm just a spectator but I'm loving it. No matter who loses, I laugh.

>>25688746
I bet you like watching your wife get fucked by the bull too

>>25688886
Lel, that was actually good banter.

What's your plans for selling, anons?

I'm mulling over when to sell. I'm certainly not going to now, but I want to be more concrete and have some possible targets.

I'm starting to get life changing money here. I don't care about riches solely through Bitcoin. There are other avenues I can take. But right now I'm a millennial without a home, and BTC is going to hit the point soon where we're talking down payment on a nice house territory. JP Morgan is saying $100k longterm or unsustainably short term. The thing is, I understand tops can't be predicted, but if this thing starts getting to those levels, people are going to fucking go nuts. JP Morgan is not to be trusted when they say these things, which suggests to me it's being pumped and wont hit those targets or will FLY past them. It could crash then or skyrocket and make parabolic gains.

I my mind, I tell myself I think I want to definitely sell half if it hits $500k. Even if it hit $1million the next day I wouldn't be mad. But the thing is, if it hits $100k I can buy a comfortable home if I sell all of it and unload my risk.

I believe in the long term success of Bitcoin outpacing gold (which means, per bitcoin per ounce is something like $650k/btc if I remember correctly), but I also understand money is for us to do things, not just hoard it and get richer abstractly.

What is your plan anon?

>>25689154
i will never sell

42K NEXT WHEEEE

YESSSS

I LOVE BTC

>>25689154
>I believe in the long term success of Bitcoin outpacing gold (which means, per bitcoin per ounce is something like $650k/btc if I remember correctly), but I also understand money is for us to do things, not just hoard it and get richer abstractly.
"Hoard" is a smear term thrown at anyone who wants to save rather than go along with the high-time preference Keynesian paradigm. Of course you're going to spend it or if you have kids maybe even pass a bit onto them at some point. You shouldn't be shamed/guilted by appeals to what is normal for normies in a broken system.

I have more than you and no I'll not be rushing to cash it all out in the 100-150k range. But I admit I have work to do in setting targets even as a long term believer in bitcoin. I'll certainly cash some of it out in that range.. I kinda need a "new" car and by that I mean a used one.. Could get it now but I can also make do without. Later this year certainly I'll purchase one.

>>25689154
Never sell. Just take out a loan with Bitcoin as collateral for liquidity. If Bitcoin dumps, it sells, but if Bitcoin goes up we'll congrats, you can refinance your loan with Bitcoin gains and still have money. Selling is just really really dumb when the possibility of collateral loans exists. It's like selling your home to get money instead of just taking a loan over it

>>25689401
>anyone who wants to save rather than go along with the high-time preference Keynesian paradigm
There's is nothing high-time preference about owning land. It's not as low time preference as BTC but my point is that having low time preferences in the end should serve you. Hoarding is having money just to have it. That can very well end up being a high time preference modality by the way, if you're for instance a miser who likes to see cash sit around in one's account without accumulating interest that out paces inflation.

>>25687811
Already happened yesterday at 2pm.

Now we're comfortably over 40k and climbing.

guys i don't give a fuck about the bull, I just like these cute new bobos we got last night.

it can't be real where the fuck money come from? can somebody debunk tether fud?

>>25688267
Theres no time. We need to breach 50k next week.

>>25689578
People are willing to buy at this price. If no one sold right now and only one person sold at $100k and it was bought, BTC would be 'worth' $100k. All we know this is just money being passed back and forth with a diminishing percentage of sellers.

selling now and hoping for a correction is foolish.
Unless you get incredibly lucky timing you wont buy BTC this cheap in the next time.

Where the fuck do I buy btc options jfc

>>25689732
deribit

>>25687217
Every time the price drops sharply and then magically recovers, another batch of USDT is printed within 24hrs max.
Why?
Because when the market looks like it might collapse, Bitfinex uses its tether reserves to buy BTC to stop the price from crashing. Once it stabilises, they need to refresh their reserves of USDT so they're ready to try and plug the next crack. Hence they print more.

Verified institutional investment in BTC adds up to maybe $10bn in total. That's allowing a lot of room above the ones that I've actually found in case I've missed any. (I'm more than happy to be corrected on this if you have evidence of more.) That is not much in the grand scheme of things, and it's a tiny proportion of the capital that's flowed into BTC over the last couple of months.
Even if institutions do account for a more significant proportion of the capital currently invested in BTC, institutions aren't the magic illuminati gang that /biz/ thinks they are. It was overwhelmingly institutional investors who were pumped, dumped, and left holding massive bags after the dot com bubble in 2000 while the genuinely smart money (read: market manipulators) made away with the money. Don't believe me? Read these two papers: Brunnermeier, Nagel, 2004, Hedge funds and the technology bubble; Griffin, Harris, Shu, Topaloglu, 2011, Who drove and burst the tech bubble?.
Institutional investors make absolutely terrible decisions all the time. ooOOOOoooo MassMutual bought $100 mil worth of BTC. Guess what? They also lost $3.3 bn in Bernie Madoff's scheme.

You're not necessarily stupid to keep your portfolio centred on BTC (no one knows wtf to think), but you're stupid if you think you're safe because a few institutions have diversified slightly into BTC. Look at your portfolio balance, and then look at the proportion of their balance sheet that's accounted for by money they've spent on BTC. Spoiler: proportionally speaking they're orders of magnitude less invested than you.

>>25690271
Keep coping faggot

>>25690271
Just fuck off already jesus fucking christ... Everyone knows you're just a seething poorfag from buttcoin repeating a stale cope from yeras ago, and you're going to shut up like a miserable little bitch after the 15th comes and goes and the GBR continues.

>>25690271
But every buy of bitcoin is also a sell. I don't get it. Why would this pump up the price

this rise seems unsustainable, just opened a 100x leverage short, no way this keeps rising.

>>25690396
good luck lmao

>>25690388
Because fake USDT are used to buy btc which are then sold for fiat

42k is officially
IMMINENT
M
M
I
N
E
N
T

>>25690396
you're just a seething nocoiner, post short or stfu

green id and 50k next week, if not prolly by Monday

>>25690271

I am also wondering about this. What do you think will happen once the Tether holders try to cash in for fiat and the exchanges will have to admit that they do not hold so much USD?

I would say that the Tether holders will get fucked, alas the reality can be that the panic will spread, the people holding BTC will try to cash out, the exchanges will be out of fiat, they will try to contact the Tether company but by that time it will be too late.

What do you think?

>>25689154
Go outside more, wait until you hear the normies talking about buying Bitcoin. The peak won't be far beyond that, and after the crash you can buy back in.

>>25690388
The BTC market is like two friends selling eachother the same sock over and over again.
Say the sock is worth 10 usd, Johnny sells it to Fred and vice versa, and they do this for a long time until Fred wants to sell Johnny the sock for 11 usd, and at that point Johnny decides to ask mommy for some allowance to be able to buy the sock, which is now worth 11 usd because of the completed transaction.
To raise the price of the sock requires new money to come into the Johnny-Fred market, and that money usually comes from labor or assets.
But one day Johnny wants to sell Fred the sock for 30 usd. Fred, who doesn't have the money, decides to pay Johnny in monopoly money saying that his monopoly money is worth as much as USD stashed under his mattress.
The truth is that Fred doesn't have as much USD stashed under his mattress as much as his monopoly money.
Johnny takes the monopoly money, thinking he just got paid in an equivalent of 30 USD, but in reality he got paid only 15 USD because that's all Fred's 30 monopoly dollars were backed by.
All this means that the actual price of the sock is still 15 USD and if Johnny finds out, he's gonna tell everyone the sock is worth 15 USD and not 30.

And that's basically the Tether situation

>>25690730
Wow, what a midwit take lmao.
I bet you think you're really smart

>>25690330
I actually don't think the 15th thing is a big deal and I agree the current excitement about tether is mostly coping FUD. This case probably won't immediately pop the bubble, and the bubble could potentially stay inflated for a while yet. The stock-to-flow graph is interesting although I haven't had a chance to look into the model yet so I personally wouldn't base my opinion on it.
With regards to the other point, I am a no coiner but I'm not seething at all - you're the one quite visibly seething because you're not able to handle other points of view. If you read my original post it's not angry - I'm genuinely very interested in what's going on with cryptocurrency at the moment and I've read a lot about it, but as an investment proposition it isn't for me at current prices. I exited my position already.
If you genuinely don't believe that the price of BTC has been inflated by USDT then I don't know what to tell you. There is plenty of academic literature written by forensic accounts and data analysts that in my opinion demonstrate this quite conclusively. That doesn't mean the price is about to crash, but I'm sure it means that at some point it will.
However these are strange times. The stock market is massively inflated too so who knows how things will play out.

afraid of buying in now and being one of those buy high sell low

>>25690826
If that's not how the market works I'm willing to be corrected, that's what I've learned from the situation so far anyway

>>25690730

OK, but bitcoin is not bought exclusively with USDT. You can buy BTC for almost any fiat currency as well as many other cryptocurrencies.

Your story applies only to the degree to which USDT is used as opposed to real fiat.

>>25690863
I mean obviously it's oversimplified, but if the allegations that Tether buys tens of millions of USDT worth of BTC like every week are true that could definitely mean it's getting pumped and the real price of BTC is still lower

>>25690928

Do you have an estimate as to what percentage of BTC bought is for tether?

>>25690986
This graph shows up to Oct (which isn't helpful because the real bull run started around then): https://s3.cointelegraph.com/storage/uploads/view/9bf26fbe552821423051b3aa2f22832d.jpg

but you can see the gist of it.
To get a more accurate value I'd need to get the data from the USDT and BTC blockchains which is a fucking hassle because you have to de-anonomyise wallets etc and I'm intending to work on it as soon as possible but life gets in the way.

>>25691309

Thank you! Looks scary

>>25690730
GTFO gay reddit*r

>>25687323
HAHAHAHAHAHHAHAHAA

>>25691364
This is a good read: >>25643688

If you want to learn about the role of tether in the 2017 pump read the paper 'is bitchoin really un-tethered'? by griffin and shams

both of these give you good information on how to go about investigating this stuff

>>25691755
I'm being very serious here. I need to get to the moon. I have no idea where to begin. Please help.