Friday, December 22, 2017

Remy: Bitcoin Billionaire

Ron Paul On Bitcoin: "Our Problems Are Gigantic, People Are Desperate And Looking Everywhere"

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BITCOIN IS OVERPRICED IN RELATION TO OVER 40-OTHER ELECTRO CRYPTO MONEY. YOU CAN PICK UP BARGAINS WITH OTHER UNDERPRICED ELECTRO-CRYPTOS. POWER BASICS OF ELECTRO-CRYPTOS ARE WHICH MARKET THEY ARE HUGGING:
1. EQUITIES
2. STOCKS.
3. PAPER BULLION AND COMMODITIES.
4. MATTRESS BULLION.
5. CURRENCY & EXCHANGE.
6. BONDS+INTEREST+CASH.
7. INTERNATIONAL TRADE, TRADE, IMPORT, EXPORT, TRANSACTION. (OVER US$2-TRILLION)*
*DEFINITELY THE MOST IMPORTANT SHORT TERM LIQUIDITY , TURNOVER AND STABILITY.
COUNTER MEASURES BY THE EMIL WANTA-REAGAN-CIA SABOTEURS ARE A ROUND THE CLOCK THREAT.

UP TO 2017, THERE ARE OVER 40-ELECTRO-CRYPTO CURRENCIES AND GROWING AT THE RATE OF 2-PER YEAR. TO BE SUSTAINABLE, THERE MUST BE OVER A THOUSAND COMPETING ELECTRO-MONEY COINS.
BITCOIN IS NOT CRASHING. THERE IS A RUSH INTO CHEAPER OPTIONS. THIS IS GOOD AS IT DECENTRALISES BITCOIN’S PIONEERING, BEFORE IT SHOOTS PAST THE US$20,000 MARK SOON. EVERY CITIZENS WITH AN ASSET HAS THE RIGHT TO ISSUE CURRENCIES. REMEMBER, THE FED AND CENTRAL BANKS HAVE NO WEIGHTED ASSETS TO BALLAST THEIR ZERO VALUE PAPER CURRENCIES. (2017.12.22.)


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Tyler Durden's picture
by Tyler Durden
Dec 22, 2017 1:50 PM
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Ahead of last night's collapse in cryptocurrencies, Ron Paul warned CNBC viewers that they had become an asset thatrivals the bubble he sees in stocks...

"I think it's going to continue to do exactly what it's doing. It's going higher and it's going lower," he said Tuesday on CNBC's 'Futures Now'.



"We can look at what's happening now, which to me is a climactic end of QEs."

As CNBC details, Paul, who has done commercials touting currency competition for a company that benefits from bitcoin's rise, views the crypto craze as a side effect of central banks doing several rounds of quantitative easing to cope with the last financial crisis.





"I look at the problems we face. I think they're gigantic and people are desperate and looking everywhere. Why would they buy bonds that pay negative interest rates? Why would they buy stocks, and say well this time it's different? " asked Paul.



"Cryptocurrency is a reflection of the disaster of the monetary dollar system."

The former Republican presidential candidate, argues that cryptocurrencies are in an "exponential bubble" where trying to calculate its real value is extremely difficult.



Bitcoin, the largest of the cryptocurrencies, had traded to almost $20,000 before crashing into the $12,000s overnight...



He hasn't been able to pinpoint when a plunge could happen in cryptocurrencies or the stock market. But Paul says the danger is real.

"They're both big bubbles in the sense that it occurred because there was excessive credit. But if you look at the curves, I think that the cryptocurrency curve looks more threatening," Paul said.



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Crypto-Carnage: Bitcoin 'Stabilizes' Around $13,000 As Exchanges 'Break'
Tyler Durden's picture
by Tyler Durden
Dec 22, 2017 1:00 PM
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Update 1300ET: Bitcoin prices have somewhat stabilized for now around $13,000...




* * *

Update 1245ET: GDAX is down...



* * *

Update 1220ET: Mike Novogratz has shelved plans to launch his fund, warning that: "We didn’t like market conditions and we wanted to re-evaluate what we’re doing...I look pretty smart pressing the pause button right now."

Warning traders that Bitcoin may drop as low as $8,000 in the near-term... but the bull market isn't over.

Bitcoin prices are higher since his announcement...



Trending Articles
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By When it comes to the health of his state's economy, California Governor Jerry Brown has been this year.


Powered By
* * *

Update 1202ET: Coinbase is down...



* * *

Update 1045ET: Andrew Left of Citron Research has covered his GBTC (Bitcoin Trust) short.. as the arbitrage spread to futures has roundtripped...



* * *

Update 1025ET: Bitcoin Futures have resumed trading and the BTFD'ers are in control - ramping Bitcoin back above $13,000 from near $10,000 lows...



* * *

Update: 0950ET - CME's Bitcoin Futures Contract was halted limit-down (down 20%) at $12,265 at 0945ET...



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Following the most aggressive drop in Bitcoin in almost three years (plunging 37% from its highs in 5 days)... Bitcoin is now down over $9000 from its highs...

Back to a $10,000 handle...



And then it was suddenly ripped $2000 higher...



Every bounce is sold...



However, today's collapse isn’t even particularly eye-catching on a logarithmic scale, used to compare relative percentage-point sizes of moves.

At least three times since 2010, the first year for which Bloomberg prices are available, bitcoin has retreated more than 70 percent from record highs. Caveat emptor.



Surveying the damage this morning is nothing short of a bloodbath...



Source

If one looks carefully, one can find a few glints of green - Tether, NXT, Komodo, Bitcoin Dark, and SmartCash but they are all microcap.

Futures and spot fell together with various circuit-breakers kicking in...



Some have argued that this was a key technical breakdown of the exponential uptrend...



These kind of drops are not entirely unusual, Bitcoin has crashed by over 30% in every quarter since its inception...





In fact, drawdowns are very much business as usual...



As Reuters notes, for the week, it was down around a third - its worst performance since April 2013.

“A manic upward swing led by the herd will be followed by a downturn as the emotional sentiment changes,” said Charles Hayter, founder and chief executive of industry website Cryptocompare in London.



“A lot of traders have been waiting for this large correction.”



“With the end of the year in sight a lot of investors will be taking profits and saying thank you very much and closing their books for the holiday period,” he added.

Ethereum is also getting crushed...



Interestingly, Ripple, the third-biggest, has more than quadrupled in price since Monday.

“A lot of the capital is flowing from bitcoin into alternative coins,” said Shane Chanel, equities and derivatives adviser at ASR Wealth Advisers in Sydney.

But it's not just the underlying cryptocurrencies that are bloodbathing. Various companies that have changed their names in recent days/weeks to try and capitalize on crypto's rise are in trouble this morning...

Riot Blockchain, Long Island Iced Tea (Blockchain), Net Element, and LongFin are all crashing in pre-market...



...Meanwhile, the newly christened Long Blockchain revealed in an SEC filing on Friday that it had secured a new loan agreement with Court Cavendish, a lender trying to expand its technology portfolio, according to the filing. The company received a $2 million loan, with the option of increasing it to $4 million with the consent of the lender.

The loan is secured with warrants...




Charley Grant

@CGrantWSJ
Long Blockchain, née Long Island Iced Tea Corp, has a new loan with some, uh, interesting terms: https://www.sec.gov/Archives/edgar/data/1629261/000149315217014968/form8-k.htm …

11:17 AM - Dec 22, 2017
6 6 Replies 4 4 Retweets 30 30 likes
Twitter Ads info and privacy


Stephen Innes, head of trading in Asia-Pacific for retail FX broker Oanda in Singapore, said that there have also been moves out of bitcoin into Bitcoin Cash, a clone of the original cryptocurrency. Oanda does not handle trading in bitcoin.

“Most of it is unsophisticated retail traders getting burned badly,” Innes said on bitcoin’s recent retreat.

Finally, many are noting the recoupling ion the relationship between Bitcoin and Gold...



Which comes first? Bitcoin $10k or Gold $1300?

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Friday Humor: The Bitcoin Billionaire
Tyler Durden's picture
by Tyler Durden
Dec 22, 2017 3:30 PM
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We suspect a few crypto 'millionaires' are crying in their milk somewhat tonight. We hope this helps...



I was broke, unemployed, I was starting to slouch
I was sleeping in the basement on my momma's new couch
That's when I heard it all, a chance to skirt it all
a money like my last girl
Completely virtual...



Got the top graphics cards, got a power supply
a microprocesser, a motherboard, a towering drive
I put the RAM in the RAM slot, drive in the larger bay
topped it off, two fans
Like a Chargers game!

Price spike to $30!? I missed out, I fear
crudely assemble a rig like a BP engineer
My friends and family smile and smirk and all make fun of me
But I'm-a make them eat their words because I'm gonna be a

Bitcoin Billionaire
Spending money like I don't care
Mining coin in my underwear
I'm gonna be a Bitcoin Billionaire

Selecting software and reading the notes
I'm picking out my favorite miners like a Penn State coach
Pick me a digital wallet for holding all my amounts
read up on the all the ways to open lots of accounts

I feel like Tom Brady, I got a fear of inflation
But this is crypto, baby--central bank decentralization
The script I flipped it, laptop encrypted
My life was rotten now all my cotton's Egypt-ed

Now even on my vacation I'm crypto-supplying
They call me gentrification the way I'm block-modifying
Friends asking "what's the best part of your newfound treasury?"
I say "reminding you how you told me I'd never be a…

Bitcoin Billionaire
Spending money like I don't care
Flash drives in their underwear
Now that I'm a Bitcoin Billionaire

The cash was never-ending, yo
upscale and fun and rowdy
I was spending like a 7 on a
scale from 1 to Saudi

Call it mad bankin', all night and all weekend
My rig is Al Franken:
(grabs what it can while you sleepin')

Just try outspending me and you'll see I'm on a mission
I drop more Satoshis than a clumsy Japanese obstetrician
But I ain't open to splits, don't care if it's best or not
Opposing forks like a Chinese restaurant

I went from geek to chic, from basic to ASIC
I went from basement-squatting to yachting from basin to basin
Went from no friends and depression to peer-to-peer legend

Bitcoin Billionaire
Spending money like I don't care
Then one day there was a solar flare...

I was a Bitcoin Billionaire
Spending money like I don't care
Now I just pawned my underwear
Used to be a Bitcoin Billionaire.

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