Yesterday I penned an obnoxious post about Bitcoin bottoming out, relegating people who didn’t agree to having empty heads without brains. Today I am singing a much different tune — especially since I bought RIOT and GROW towards the end of the yesterday’s session and have owned OSTK for more than a week.
Bitcoin is lower by 5% and many of the prominent cryptos are off by more than 10%, so far.
I’ve done some technical analysis on this move. Enjoy it with my compliments.
It’s important that you understand how ridiculous the crypto space is and how it continues to crush the souls of those who believe in it.
Early going, futures are higher — but oil is lower by more than 1%, which means I’ll lose some money in my fucking oil stocks too.
DEVELOPING…
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Watching Trump Asskisser Mike Pence being interviewed
by “New Black Toupee” Joe Kernan makes me wanna puke.
Pence can’t get his tongue far enough up Trump’s ass.
Trump revels in that stuff. And saves money on toilet paper.
You sound butt hurt.
Pence has no balls. That’s a prerequisite for working for Trump.
Trump wants buttboys. Like Barr.
The few dozens or so people who still occasionally glance your blog know very well you’re just some middle-aged man who is trying hard to sell “Exodus” memberships to feed your family.
The mea culpa is redundant and unnecessary.
Wtf?!
What an extremely shitty thing to say. I don’t always agree with Fly but he deserves anyone’s respect for putting himself out there every single day without pause while requiring nothing from you in return.
Will something disruptive come out of Wikileaks now that Assange has been taken? ..or have the PTB taken preemptive measures?
Barr will do his best to suppress any info that could come from a deal with Assange.
I would not assume that any revelations from Assange’s organization would come through such channels.
Plea deal? Assange will fold like a wet dishrag.
Maybe they will cut a deal. Maybe they already have. Assange wants freedom. And our deepstaters don’t want to go through the discovery phase of a trial. In any case, after all these years, “wet dishrag” is not a term I’d use for the guy.
But does it really matter what is leaked? MSM controls the minds of most; and in the important narratives which are fed to Foxtard and NBCtard alike, the truth does not much matter.
Only the idiot Trump delusion sufferers don’t recognize what is going to happen. Trump is in the process of destroying the Loopy Left’s last delusion (or lie, depending on whether you’re talking about their Leadership or their sheep)– specifically that “muh Rusher” never “hacked the DNC” AT ALL. It was an inside job pulled by some butt hurt Bernie supporter. Save this message. ?
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This Assange shit is crazy. I don’t think he folds that dude is cold as ice
MJ continuing to suffer from from the schizophrenic press. May be setting up short again.
Sold OAS. Long DRIP at 9.01
weed stocks getting hammered. anyone know what’s up with that?
NYTs and other outlets have been talking about an association between pot use and psychotic disorders since January …and these stories seem to have legs ..and may affect the politics of legalization.
Bookmark this:
Before you invest (as opposed to trend-following speculation) in currencies (crypto or otherwise), you have to understand the basics: currencies are used to (1) store value and (2) lubricate commerce by reducing transaction costs. Anything that doesn’t accomplish both of these will at best remain a speculative commodity such as gold, and at worst toilet paper (wait, defunct cryptos will be less valuable than a single toilet paper square).
Crypto-currencies won’t be able to hold value until they are used more commonly in transactions, so let’s look at that first.
For a transaction to be trusted, there are only three basic arrangements that I am aware of.
1) Use a trusted third party. Visa, MC, and banks are also trusted third parties. Federal goverenments are trusted third parties as well (hyperinflation arises whent his trust erodes). This model has potential for crypto-currencies, but does not have the de-centralization that is a driving force behind cryptos.
2) Use complex algorithms to validate transactions. The complexity must be high enough to dissuade fraud. This is the BitCoin model. Unfortunately, the complexity must keep pace with computing power, so long-term price stability (of BitCoins) is an impossibility and transaction cost (in terms of the currency price paid to validaters/miners) is guranteed to constantly increase. This is why this model (and all crypto-currencies using it) are destined for long-term failure.
3) Use crowd-sourcing and multiple validaters. This is what enabled eBay’s success: sellers and buyers become trusted only after multiple transactions and ratings. In fact, similar crowd-rating models enable peopel to find dates and even jobs (linked-in). In terms of cryptocurrencies, IOTA uses this model anytime you inititate a transaction, you must first validate other transactions in the “tangle”.
Note: I do not hold any cryptocurrencies at the moment.
nice charts: https://coinmarketcap.com/