/biz/ - Business & Finance

looks crypto solved the collective action problem in addition to bringing decentralization, enabling oracles, solving double spending, recreating artificial singularities (chainlink)... woah. it's bigger than i thought.

>>15632266
>it's impossible that people decide all simultanously to buy all kinds of shitcoins
It's one giant whale game of miners and early adopters leading the market with a carrot on a stick, making a killing each time. 50% of Bitfinex shorts being settled in one go just a few weeks ago is proof that there's literally a handful of players running the show. Doesn't mean there aren't bigger components entering the market, but redistribution will take many years. You just kinda have to play along.

>>15632381
just to get it right, of how many people are you talking about?
100? 1000? 10000?

You have to realize the purpose of Altcoins to understand what is going on right now.

From day one, Altcoins have always been a method of harvesting additional bitcoins.

So, the only reason to pump the price of Altcoins is to draw in dumb retail money, and dump on them at higher prices.

This then gives them more BTC, which they can then use on derivatives, and spot.

When an exchange does it, like Binance is right now, this is all seamless.

Once the whales are happy with their increased BTC stack, they'll sell off ALTS in unison as BTC pumps.

>>15633136
can you proof this? how do you know binance buys or sells alts?

>>15633165

Watch BNB and BTC price action before and during big moves.

Everyone knows this.

>>15632266
>doesnt know that the US can now trade on binance again
>doesnt know that binance is the largest exchange for altcoins
>doesnt know that the US makes up 50% of all the traffic and 80% of the capital flowing through binance

>>15633187
US Customers were never banned from Binance you fucking brainlet.

>>15633181
you mean ETH BTC lol

>>15633199
lately, yeah.

>>15633192
temporarly they were banned from buying you fucking brainlet

>>15633881
no they weren't, it never went into effect.

>>15633992
It created uncertainty that's seeing resolutions. Uncertainty is the enemy. Be a zealot!

>>15632266
It's obviously started by a group of market makers. Then people start to fomo and the rest occurs naturally until the original market makers decide to sell at which point the smart people start to sell, then the laggards, and then the hodlers.

>>15633992
thats bullshit the chink faggot said so and it only allowed withdrawals fucking kill yourself already

Buy BRAP, get rich, easy

>>15634257
whats her name?

>>15634304
roastie toastie

>>15632266
I'm assume you're somewhat of a newfag if you have to ask this. What this guy said is true: >>15632381
Now this time it seems like people are not taking the bait, and the fact that normies like you are starting to ask questions is a problem for them.
There's two ways this can play out:
1. The pump will die out and the whales will scalp what they can and that's it till next time.
2. They will continue the pump until it gets ridiculous and you have to FOMO in or be priced out. Once battle-hardened /biz/ fags give in and take the bait, mainstream media will bring a new wave of normies, it will pump even higher and then we'll see the big dump.
If it's no. 2, the whole process could take months, up to a year and that will be the real alt-season.

At this point I'm not convinced it has started yet and like many others, I'm waiting on the sidelines to see how this plays out. After the Barts from 2018, I'm not that easy to bait.

>>15635170
I'll assume*

>>15635170
>Got baited into Bart-season 3
Lmao when will people learn.