You’re watching the death of crypto, and it’s not coming back.
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Date: July 16th, 2019 9:07 PM Author: Irradiated fortuitous meteor piazza
It was fucking so stupid of finex/arthur. The market wasn't ready for this. After all that time sub 4k people would have been genuinely chuffed to have BTC hang in the high-5s, low-6s for a few months. You could have gently stoked the fires, allow people to recover their nerve to ride the rollercoaster again. Let the fuel for another hype cycle slowly percolate for another 12-18 months, waiting for actual real-world news, material innovations, relevant uses, the halvening etc. to finally pump it over 25k and keep a few alts around to ride along for a huge new hype wave with a new generation of retail buying in.
Instead they got no real interest in retail at all on this move. they only slaughtered and gutted the last diehards. They also slaughtered and gutted the alts. IF there's another crypto bull they just pushed it out another 3-5 years. IF.
(http://www.autoadmit.com/thread.php?thread_id=4304233&forum_id=2#38542934) |
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Date: July 16th, 2019 9:35 PM Author: mahogany native
It’s not hard
Consider bitfinex has admitted that they “lost” 850 million dollars;
That they have admitted buying bitcoin with tether;
That they don’t have one to one dollar to tether reserves like they claimed;
That their auditors withdrew;
That they have no legitimate banking relationships;
That they are being sued for fraud in New York;
That there is a strong correlation between tether printing and spikes in bitcoin price;
Then consider that amount of actively traded bitcoin is small and that, a recent study came out showing each $1 put into the crypto market pumps prices by $50-100;
Then consider that bitfinex magically raised $1 billion for their LEO with no transparency within a week, which then corresponded to a massive crypto pump
The dots are there for those who want to see
(http://www.autoadmit.com/thread.php?thread_id=4304233&forum_id=2#38543081) |
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Date: July 16th, 2019 9:43 PM Author: mahogany native
Good counterpoint but
Retail investors are out of the market having been burned too recently
As smarter investors wake up they will also withdraw
The bitfinex scam only works so long as they can pump to sell to suckers
It will all come to a head soon imo
(http://www.autoadmit.com/thread.php?thread_id=4304233&forum_id=2#38543139) |
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