Normans HATE bitcoin and think its a Ponzi scam. Its over

[Anonymous No.13099532]

Its over. Imagine thinking BTC is not going to 0 when all normans consider it a Ponzi scam and this is literally the #1 post on r/technology: Majority of bitcoin trading is a hoax, new study finds
https://www.reddit.com/r/technology/comments/b4h38y/majority_of_bitcoin_trading_is_a_hoax_new_study/
Reddit comments:
>Always said "Beanie Babies". Pyramid scheme. Prove me wrong.
>it was always a scam
>Traders in pyramid scheme are not trustworthy. Details at 11:00.
>Hahahahah holy shit. I do feel pretty bad for anyone who genuinely thought Bitcoin was going to be anything other than a shady scam. If it sounds too good to be true, it is.
>the vast majority of bitcoin people are just hoping to get rich buying low selling high. Or mining it just to sell for real money. Very few people actually want to use it as real currency. In that sense, it is more fake than any fiat money
>Last week I finally had enough HODL’ing and liquidated. All the money I made from mining LiteCoin in 2014 and converting to BitCoin in late 2017 was basically gone. Should have just sold all my LiteCoin in late 2017 and walked away.
>I wasted 300 on crypto. Thankfully I didn't had more
>Bitcoin is God's way of teaching libertarians the value of a central monetary and regulatory authority.
>Meanwhile the unnecessary carbon emissions are 100% real
>Interestingly enough, bitcoin is a hoax also.

[Anonymous No.13099533]

>>13099532
More reddit comments:
>Proof that BTC is the original shitcoin and shill ponzi honeypot
>Something virtual that was thought of as real turns out to be not real at all. (Rolls eyes)
>bitcoin is a worthless memecurrency
>Fuk Bitcoin what a bunch of idiots...
>Cryptocurrency people are so cringey
>Come over to weedstocks...crypto is the dumbest investment I have ever seen. Zero revenue, zero assists, diluted coins....nothing more that unicorn farts.
>You mean the imaginary thing that was going to replace all money and bring an end to the evil of functioning governments turns out to be a bullshit scam? Shocking.
>Time to step away from fake currency
>Cryptocurrency dead, just let it die already.
>I knew it. Applying tulip-craze 'valuation' to a so-called "currency" was nuts to begin with, and the very idea of "private money" carried over the US Govt's communication infrastructure is just sad.
>Wait, so the foundation of the flag currency of drug dealers and human traffickers is built upon rampant fraudulent trading practices and is mostly a hoax? Geez, never would've guessed. Who could've possibly seen this coming...

[Anonymous No.13099569]

Good, I would hate for these norman fucks to get in this revolutionary asset class near the bottom. They WILL buy my bags at the top though, like the disgusting worthless NPCs they are.

[Anonymous No.13099576]

>>13099569
Are you thick? What this shows is that normans hate bitcoin and crypto and will never ever buy it because they consider it a Ponzi scam. Its over

[Anonymous No.13099594]

>>13099576
Go back to plebbit, that is where you belong

[Anonymous No.13099606]

>>13099569
you may be right, but you're still proving their points

[Anonymous No.13099643]

>>13099532
>>13099576
Unironically bullish sentiment. They will change their minds when they see 5 digits again, like in the past.

[Anonymous No.13099652]

it's absolutely ogre

>muh golden bullrun to 100k
yeah sure lmao

[Anonymous No.13099662]

>>13099643
this is called
grade A
distilled
thrice filtered
100% pure

COPE
O
P
E

[Anonymous No.13099685]

>>13099594

>no rebuttal, no argument just a straight up ad hominem

[Anonymous No.13099698]

>>13099532
>print your own brand of digital Monopoly money
>sell it to yourself for thousands of dollars per ticket to establish the "market price" and raise it higher and higher
>idiots buy it at the "market price", thinking they'll be able to sell it for the "market price"
Ever noticed that when the price is high and you try and sell for real dollars, suddenly nobody's buying, and the price plummets before what you put up sells?

All of these clowns are "bitcoin rich", but they're "holding" and buying more.

[Anonymous No.13099710]

>>13099576
normans are not needed to start a bull run... they are needed to finish it so those with brains can sell
normans create the " blow off top" phase in all market cycles, in bitcoins case it was $10,000-20000 ( media frenzy began)
NASDAQ bubble was exactly the same- steady rise for early-mid 1990s, followed by mass retail investing on such a scale that it actually caused a recession when it popped
Let normans say what they want, BTC will most likely drop one final time ( $1800-2500 range is the buy)
Then in a few years sell your bags to normans who are buying on coinbase with their credit card

[Anonymous No.13099769]

>>13099685
Every normie shit in that post has already been articulated by smart people 5 to 6 years ago. Guess what, we’re higher today than then.

[Anonymous No.13099779]

>>13099710
>Let normans say what they want
This is proof that BTC valuation is produced fraudulently, and the "market price" isn't something you can reliably sell it for.

>BTC will most likely drop one final time ( $1800-2500 range is the buy)
It will drop to zero. Ever buying more at any price would be a terrible mistake.

[Anonymous No.13099830]

>>13099532
>>13099533
Reddit is were retards go to larp being smart

4chan is were smart people go to larp being retarded.

[Anonymous No.13099851]

>>13099769
>we’re higher today
Are you just not paying attention? The BTC valuation is fraudulent. That's what the article is about.

Only idiots are buying BTC, and almost all real sales are by people who control the exchanges. Most reported sales are fake: the buyer is the seller, they're just manipulating the price with fraudulent transactions. You can put yours up for sale, but having it actually sell is like winning the lottery.

Go ahead, try to exit your BTC position. Try to cash out. Count up the real money you've put in, against the real money you've pulled out. Have you been making a real money profit, or sinking more and more real money into your playmoney position? Are you ahead without counting what you could theoretically sell your BTC for? How bad is your situation if you can't sell your BTC, if the real value is already at $0?

>>13099830
We get our fair share of real idiots on 4chan.

[Anonymous No.13099866]

>>13099779
>This is proof that BTC valuation is produced fraudulently, and the "market price" isn't something you can reliably sell it for.

The market price is the same anywere in the world regardless of the currency because it´s being used and has internationaal demand.

>>13099769
Exactly this , do a search on google between dates and you will see normies saying the same retarded crap again and again and again , then when it peaks after a halving they say fuck we should have bought some and then they repeat the same shit when it collapses again and again and again.

BTC is better than it´s ever been , segwit adoption growing thus increasing max tx per day , transactions per day stable and growing , demand at same levels than early 2017(and not meme data , just localbitcoins).

[Anonymous No.13099873]

>>13099532
Go back to redbdit deplorable son of a whore

[Anonymous No.13099875]

>>13099851
LMFAO way to reveal how fucking low your power level is. fuck off brainlet

[Anonymous No.13099888]

>>13099532
You fool.
Here's the slide deck presented by Bitwise, who did the study: https://www.sec.gov/comments/sr-nysearca-2019-01/srnysearca201901-5164833-183434.pdf
Page 61 has the 10 exchanges that appear to have real volume of the 81 exchanges analyzed: Binance, Bitfinex, Kraken, Bitstamp, Coinbase, bitFlyer, Gemini, itBit, Bittrex, and Poloniex.
The presentation lists a number of exchanges which they believe are presenting fake data:
CoinBene, RightBTC, CHAOEX, IDAX, LBANK, BitForex, Exrates, etc.
I don't think I've heard of any of these.
They go on to identify pretty much every exchange I've ever seen discussed here (for example) as having legitimate volume-- Binance, Bitfinex, Kraken, Bitstamp, Coinbase, bitFlyer, Gemini, itBit, Bittrex, and Poloniex
I think the headline should instead be "coinmarketcap volume claims are nonsense" -- which I think most people in the bitcoin space would say "well, duh". At least my view purpose of coinmarketcap and similar sites seems largely to direct people to the latest token pumps, as evidence by the absurd "market caps" they display for illiquid pre-mined tokens.
the difference is quite disparate. Coinbase Pro (legit) has a 24h volume of 53,234,129 whereas Coineal is reporting 740,643,873. A quick google / google trends search shows that Coineal is basically unknown compared to Coinbase

[Anonymous No.13099898]

>>13099851
BTC is having real sales dude , go to localbitcoins at any place on earth and you will find traders selling and buying.

Go to see the constant transactions , millions are being moved every second using it.

> Most reported sales are fake: the buyer is the seller, they're just manipulating the price with fraudulent transactions.

How the fuck would they do that? BTC is not an etf shit you buy a coin or nothing it´s a p2p system in order to move the price up they need to reduce demand and to do that they need to buy which means increasing the price.
In order to move the price down they have to sell.

At the end of the day they can move up and down as much as they bought and the result is neutral.

However due to artificial scarcity the price go up long term always.

[Anonymous No.13099903]

>>13099898
> in order to move the price up they need to reduce Liquidity

[Anonymous No.13099907]

>>13099569
whos going to pump your shit

[Anonymous No.13099944]

>>13099907
NO ONE, NOW GTFO WITH YOUR DUMB SHIT. NO ONE CARES ABOUT WHAT YOU THINK

[Anonymous No.13099961]

>>13099532
The mention of 81 exchanges left me thinking: If none of the trading was fake, but then I created a single exchange literally named "ScamCo Faketrading Exchange" which claimed 1 petatrades per second were happening on its platform, then would this analysis say that >99% of all trades were fake?
I think it would.
I don't think any of the exchanges that I could have named off the top of my head were on their naughty list (paywall is keeping me from loading it again to check), ... so it seems to me that this report might be a bit overstated.

[Anonymous No.13099977]

>>13099898
>Most reported sales are fake: the buyer is the seller, they're just manipulating the price with fraudulent transactions.
>How the fuck would they do that? BTC is not an etf shit you buy a coin or nothing it´s a p2p system in order to move the price up they need to reduce demand and to do that they need to buy which means increasing the price.
>In order to move the price down they have to sell.
How dense can you be? The way market price works is that you observe the prices of transactions, and whatever prices people are actually settling on transacting at, that's the market price. It doesn't matter how many people are sitting there trying to buy or trying to sell at other prices, and not buying or selling, as long as someone actually is transacting. So if you can buy from yourself, and sell to yourself at a certain price, and nobody notices that nothing's actually changing hands, then people are going to think that that's the market price, and so they'll try to buy or sell.

It doesn't matter that BTC is a p2p system. That's only the means by which transactions are completed, it's not how prices are negotiated and settled on. Real-money exchange isn't and couldn't be built into Bitcoin.

>due to artificial scarcity the price go up long term always.
The absolute state of Bitcoin cultists.

[Anonymous No.13099981]

>>13099961
it´s fucking retarded , a piece against bitcoin dedicated to 70iq firstworlder normies.

Anyone that understands btc and has used knows the price is based in supply and demand.

If that was not the case you will not find the same price on different currencies on localbitcoins(when you convert them to usd or eur at local currency rates).

[Anonymous No.13099990]

>>13099685
You're a faggot

[Anonymous No.13100009]

>>13099981
>Anyone that understands btc and has used knows the price is based in supply and demand.
>If that was not the case you will not find the same price on different currencies on localbitcoins(when you convert them to usd or eur at local currency rates).
The absolute state of Bitcoin cultists. Literally don't believe market manipulation can exist even theoretically. Don't understand the most basic things about where prices come from.

[Anonymous No.13100012]

It's not over but the true value of Bitcoin is 1 US dollar and that's where we're going

[Anonymous No.13100021]

>>13099532
Listen, retard. These exact same comments were posted on this exact subreddit in 2014.

[Anonymous No.13100027]

>>13099981
That's what I'm saying. This piece is 100% good for bitcoin. It brings transparency and sheds light on the scammers. The exchange rankings on coinmarketcap have been a fantasy for a long time and it's penalizing good exchanges to the benefit of trash exchanges like LBank, Bibox, et al. People no longer have to wonder why they put their coins on those trash exchanges to trade and always end up losing money "some how". They can take their coins and put them on real exchanges where actual price discovery is happening and have a fair shot. The good exchanges will explode after this and the shitshows will dry up and blow away.
We have needed this for years now and it's finally happening. I am ecstatic. It's like pulling the weeds that are choking the garden. You don't lament pulling the weeds out of some misguided "muh garden is getting smaller" that's fucking ludicrous. Your actual garden never changed size. The only thing happening is you can spend your attention and nurturing on things you care about. Anybody who thinks this isn't bullish in the longterm is fucking braindead and the OP sourcing comments from Plebbit to prove a point means he's the most braindead of all.

[Anonymous No.13100028]

>>13099977
>How dense can you be? The way market price works is that you observe the prices of transactions, and whatever prices people are actually settling on transacting at, that's the market price. It doesn't matter how many people are sitting there trying to buy or trying to sell at other prices, and not buying or selling, as long as someone actually is transacting. So if you can buy from yourself, and sell to yourself at a certain price, and nobody notices that nothing's actually changing hands, then people are going to think that that's the market price, and so they'll try to buy or sell.

You truly are a brainlet , if you are buying to yourself you are also not affecting the price.

The price of localbitcoins that is actually p2p as well as the fact that btc is p2p is the same everywere.

It does not matter if it´s venezuela , china , or the usa.

People can´t even buy from the global exchanges in latin america due to credit cards and wires being rejected and the price is still the same.

>due to artificial scarcity the price go up long term always.
>The absolute state of Bitcoin cultists.

People do wires with bitcoin so there is a constant injection of fiat but a ever decreasing supply of bitcoin.

The people doing this don´t care if they have to use 1 btc to send 100 usd and after the halving 0.5 to send 100 usd.

They will kept doing it which is why the price goes up long run.

[Anonymous No.13100035]

>>13099532
>new study
>reddit

let me guess, the study targeted redditors that are -99.99%

[Anonymous No.13100037]

>>13100009
It can´t exist on a p2p system like bitcoin , for fucks sake it´s clear you understand economics but don´t understand shit about crypto and the programming behind it.

You can do what you are saying with gold or silver due to etfs and the fact that most people don´t get the physical version.
You can´t do it with crypto because you end up like bitconnect and end up being called a faggot for leaving your cryptos at an exchange.

[Anonymous No.13100045]

>>13100009
i bought my bags in 2016 and sold them for $100k in 2018. u mad bro?

[Anonymous No.13100057]

>>13100027
While this is good , the exchange rates on coinmarketcap for btc have been pretty good except for latin america.

On latin america the demand for bitcoin is growing so fast(and so insidious i may add) that the price of bitcoin has a 5% difference to international exchanges because the local ones and traders can´t meet the demand.

[Anonymous No.13100062]

>>13100009
>Don't understand the most basic things about where prices come from
You fucking idiot. The report that this came from puts a fine point on the fact that the institutional players like CME, Cboe, foreign ETNs etc. never sourced their prices from the scam exchanges but from the 10 legit exchanges. Smart money already knew this and they were preying on the fact dumb money was following coinmarketcap. That was the cult. Not bitcoin, the cult of coinmarketcap. Now that the lie has been exposed thoroughly, normies are on equal footing at least in this context and can make better decisions that have a legitimate impact on price discovery. This has illuminated the market and fixes a huge problem. How this can be spun as negative is an example of how we got here in the first place. Idiot FUDders that don't know shit.

[Anonymous No.13100070]

>>13100028
>if you are buying to yourself you are also not affecting the price.
>>13100037
>[price manipulation] can´t exist on a p2p system like bitcoin
The absolute state!

>>13100045
Prove it.

[Anonymous No.13100073]

>>13100021
Yet Bitcoin is still not an actual currency unto itself in wide use. It couldn't even function as a global currency technically speaking due to many limitations and a few major vulnerabilities.

[Anonymous No.13100080]

>>13100035
>have an upvote, sir!

[Anonymous No.13100082]

KEK, THIS IS THE BOTTOM GENTLEMEN, WE ARE UNIRONICALLY GOING TO MAKEI T.

[Anonymous No.13100086]

>>13100082
>WE ARE UNIRONICALLY GOING TO MAKEI T

Yes you will be making tea. Two sugars please.

[Anonymous No.13100096]

the masses are always wrong, thats why theres a 1%, let retard be retards. they will cry in 10 years when bitcoin and crypto made a world currency working better then the dollar

[Anonymous No.13100100]

>>13100070
>Prove it.
BAHAHAHAH is that too high for you to believe? sucks to be you. fuck off back to plebbit

[Anonymous No.13100103]

>>13100086

you are an idiot, you srly dont understand the psicology of the markets and you are never going to make it; you buy when everyone think that it is a scam and it is "THE END" and you sell when everyone thinks that "this is the future" faggot,

[Anonymous No.13100112]

>>13100070
>>[price manipulation] can´t exist on a p2p system like bitcoin
>The absolute state!

You need to buy to increase the price and sell to reduce it.

Only way to manipulate the price is with artificial dumps and media or trying to spam with transactions the mempool.

All those things are like a stimulant having less effect every time you take it and they need to pay the shills to attack btc to manipulate the price.

Every artificial pump and dump is neutral at the end of the day.
Localbitcoins price is the real one and always has been.


The price of btc at the end of the day is determined by the demand for wires and ever decreasing supply of the halving.

Here , enjoy so you can at least learn something.

https://www.tradingview.com/chart/BLX/oKh54NhX-Bitcoin-Halving-and-Charting/

https://www.tradingview.com/chart/BLX/ORcjrvxC-Is-100-000-possible-for-Bitcoin-before-the-next-Halving/

https://www.tradingview.com/chart/BTCUSD/Yfcj8brc-Bitcoin-s-journey-to-the-new-peak-will-be-longer-this-time/


I for one will be having fun with my bags after the next halving.
At the end of the day is simply supply and demand

[Anonymous No.13100118]

>>13099569

Absolutely based. Nothing has me more bullish than seeing the general sentiment on Reddit towards cryptos. Across the entire site, save crypto subs, people call Bitcoin a scam, repeat the "blockchain not Bitcoin" boomer mantra.

We are still so so early, and yes, we are going to be rich. Normalfags will never learn -- but they FOMO in every time, reliably. Gonna love dumping my bags on people whose primary hobby is sniffing their own farts.

[Anonymous No.13100122]

>>13100100
>is that too high for you to believe?
I have no reason to believe it in the first place.

[Anonymous No.13100130]

>>13100103
Be quiet pajeet. My money has already been made from Cryptocurrency.

[Anonymous No.13100135]

>>13100112
>You need to buy to increase the price and sell to reduce it.
For every transaction that actually happens, there is exactly one buyer and one seller. By your logic, this should mean that the price never moves.

[Anonymous No.13100138]

>>13100122
you're a fucking idiot and your idiotic opinions belong in an idiot echo chamber called reddit

[Anonymous No.13100140]

>>13100130

nah, you havent maked a single cent, you have 90% losses and you are a faggot who is about to capitulate/ already capitualted, just kys brainlet, you are never going to make it.

[Anonymous No.13100143]

>>13100118
Unironically this a date search shows they truly act like npcs instead of researching , they fomod when the price is at 19k then bitch fake fake at 4k then at 100k they will fomod again.

It´s truly incredibly to look at bitcoin by doing date searchs on forums or reddit it´s always the same shit and btc proves them all wrong.

[Anonymous No.13100172]

>>13100138
>>>I, a random anonymous person, claim without evidence to have had a personal experience which counts as an argument against your position!
>>I have no reason to believe that.
>you're a fucking idiot and your idiotic opinions belong in an idiot echo chamber called reddit
lol I can only picture a furious 14-year-old boy crying and smashing his keyboard.

[Anonymous No.13100178]

>>13100057
I'd suggest reading the actual report as it is fantastically informative. It's saying that for every exchange that reports more than 1 million dollars of daily volume, only 10 of those exchanges are actually reporting real volume. And the price of bitcoin on those 10 exchanges is almost always exactly the same due to efficient arbitrage. They are saying that's the real price of bitcoin and after reading the report and all their arguments I'm inclined to agree. I would highly suggest spending an afternoon on this as it is very good.
https://www.sec.gov/comments/sr-nysearca-2019-01/

[Anonymous No.13100180]

the fact that “dumping my bag” is even part of the crypto vernacular is why crypto is a fucking joke and will never amount to anything. if you believe in crypto you don’t buy so you can “dump bags” and convert back to fiat once you’ve “made it”. fucking embarrassing retards

[Anonymous No.13100191]

>>13100140
I can hear you weeping through your keyboard from here, pajeet. Enjoy the weekend, work comes soon.

[Anonymous No.13100194]

>>13100135
Now you are starting to get it.

Yes anon under that theory the price would never go down or up.

However you are not taking into account that
1_It takes electricity and hardware to mine bitcoin so they already have a price of creation.

2_That difficulty is always increasing so that base price is increasing.

3_The supply decreases every 4 years.

4_The people doing wires do this

100 usd > 1 btc > 90 eur

after a halving

100 usd > 0.5 btc > 90 eur

on a broad view you would be correct to think that bitcoin should not go up or down if that were the case.

Yet here is were you are wrong , because when the people doing wires did that last part of btc to euro someone bought those btc to euro

and what did they did?

Probably the same thing in reverse

90 eur > btc >100 usd

So there is a growing demand for wires for a constant reducing ammount of bitcoins and on top of that the fees means that part of the coins return to the miners.

If you think deeply about what i have explained you here you will come to the realization that Satoshi Nakamoto was a genious not only in programming but he understood game theory perfectly.

Without the artificial scarcity and energy requirements for mining crypto would never work.
It´s the game theory that causes it to work because with constant prices increases(due to cost for mining and reduced supply) the concept of holding is not insane since the price will only go up long term.

So you also have services like bitpay that take bitcoin and give usd to companies.
An entire industry literally built over a game theory that works perfectly.

[Anonymous No.13100198]

>>13100135
>For every transaction that actually happens, there is exactly one buyer and one seller. By your logic, this should mean that the price never moves.
You're being purposely obtuse and pedantic. Obviously if you buy into the offer you are raising it and consequently the last price. Conversely if you sell into the bid you are lowering it and the last price reflects this.

[Anonymous No.13100202]

>>13100178
>https://www.sec.gov/comments/sr-nysearca-2019-01/
>Directory Browsing Not Allowed Here.

[Anonymous No.13100205]

>>13100103
>psicology

[Anonymous No.13100209]

>>13100180

no retard, you dump your bags because you know how market cycles work and you want to make the most profit possible to buy back btc in the bottom of the next cycle, dont be a retard.

>>13100191

kek, kys faggot.

[Anonymous No.13100211]

>>13100202
whoopsie
https://www.sec.gov/comments/sr-nysearca-2019-01/srnysearca201901-5164833-183434.pdf

[Anonymous No.13100217]

>>13100194
>3_The supply decreases every 4 years.
That's not what the "halving" is. The rate of increase of supply decreases every 4 years. The supply always increases.

[Anonymous No.13100236]

>>13100143

[Anonymous No.13100238]

>>13100178
But what would the exchanges even had to gain except dick showing that muh they are big and important for marketing?

Literally nothing at the end of the day most of the price movements are caused by localbitcoins.
In fact localbitcoin exchange volume an be compared to transactions per day and tx fees to see that it´s 100% real.

[Anonymous No.13100248]

>>13100217
Correct i wrote that wrong.

[Anonymous No.13100254]

>>13100143
.

[Anonymous No.13100255]

>>13100236
Kek , the funniest shit however is when you see the holders predictions , the price was always more than what they predicted by nearly 150%

[Anonymous No.13100257]

https://99bitcoins.com/bitcoin-obituaries/

lmao faggots still think bitcoin will ever just die or go away

[Anonymous No.13100260]

>>13100238
>But what would the exchanges even had to gain except dick showing that muh they are big and important for marketing?
Ah but you are forgetting something, my friend. Exchanges charge listing fees and the "larger and more prestigious" the exchange the more they charge projects to list the coins. Some to the tune of millions. Imagine being a fake exchange with mostly fake volume and you charge a million dollars. 200 hapless projects pay your fee. That's a huge reason why they do it. I'd suggest reading that report as you have much to learn.

[Anonymous No.13100267]

Did anyone read the comments on that Reddit thread? The most upvoted comments and the replies to it are sensible and they aren't bashing bitcoin at all.
Here's a good comment:
"Terrible and misleading article. It’s saying 90% of bitcoin trading is faked on UNREGULATED exchanges.

Unregulated exchanges, that barely anyone with any sense is using. They do this to fake volume, appear on coin market cap and try to trick Alt coins into paying to be listed. I wouldn’t go near any of them, ever.

The top and regulated exchanges that people use are not faking volume. This article makes you think that 90% of all bitcoin volume is a ‘hoax.’

The amount of misleading and clueless comments in this thread is disheartening. I hope you can try to take some time of your day and read or watch a video on Bitcoin before making judgment, it’s an incredibly exciting and unique tool. "

[Anonymous No.13100283]

>>13100260
Yes but then again this is another crappy piece against bitcoin by normieland.

This literally does not mean that "Bitcoin volume is fake" , it means that exchanges are larping to do marketing.

This would be like tesla saying they produced 5 million cars in a month and having a shity journalistic piece saying the dow jones volume is fake.

[Anonymous No.13100303]

>>13100267
I've been saying essentially this and a whole lot more in every /biz/ thread on this topic since yesterday and even here the morons are getting it exactly backwards. Hopefully at least some of the bizraelis are trolling. As far as plebbit, see you when you buy my bags at 30k suckers.
>>13100283
>This literally does not mean that "Bitcoin volume is fake"
You got it. What this really means is the source the media is using, e.g. Wall Street Journal, Barrons, Financial Times, and so on, that source they are all using is fake. The source? Coinmarketcap. That's the con and the media fell for it. Normies follow the media like lemmings so they believe the shit too. Guess who doesn't follow that shit. Institutional investors. Read the literature on CME, Cboe, etc. on where they source their prices. It's remarkable how to a man they all get it from the same places. The places this report agrees are the legitimate exchanges. The normies have been had and cmc is in on it. Institutional players knew the truth all along and now the truth is leaking out. Yet dumdums think this is a bad thing. Imagine that.

[Anonymous No.13100319]

>>13100028
>if you are buying to yourself you are also not affecting the price.
the absolute state https://en.wikipedia.org/wiki/Wash_trade
>due to artificial scarcity the price go up long term always
what is demand
>ever decreasing supply of bitcoin
1800 btc mined each day

>The people doing this don´t care if they have to use 1 btc to send 100 usd and after the halving 0.5 to send 100 usd.
dude.. just stfu you have no clue how any of this works

[Anonymous No.13100324]

>>13100283
>it means that exchanges are larping to do marketing
I just want to expound on this by quoting one of my comments above. We are in complete agreement here.
The mention of 81 exchanges left me thinking: If none of the trading was fake, but then I created a single exchange literally named "ScamCo Faketrading Exchange" which claimed 1 petatrades per second were happening on its platform, then would this analysis say that >99% of all trades were fake?
I think it would.
I don't think any of the exchanges that I could have named off the top of my head were on their naughty list (paywall is keeping me from loading it again to check), ... so it seems to me that this report might be a bit overstated.

[Anonymous No.13100327]

>>13099569
Next target: $100. After that: $0.

[Anonymous No.13100328]

>>13100303
The media has been attacking btc so much and at the same time politicians have become so accelerationist with gibs and ubi propaganda that it makes me think if they are all in on bitcoin shilling now to buy cheap and then shilling for state spending to cause it to go up.

But then again most probably they are retarded.

[Anonymous No.13100331]

>>13100194
>>13100248
The rest of it just adds up to, "there are transaction costs, so price manipulation is impossible". But there are always transaction costs. That doesn't stop price manipulation. You just need to make more money scamming people than it costs to run the scam.

If the people currently manipulating prices acquired their supply back when it cost $1 or so, or when it was even cheaper to mine (remember the two pizzas bought for 10,000 BTC?), and are selling it for thousands of dollars now, then anything they sell is wildly profitable, and they can spend lots of money (and a lot more bitcoin) on transaction costs to keep prices up while they sell off their presumably vast supply.

[Anonymous No.13100356]

>>13100319
>https://en.wikipedia.org/wiki/Wash_trade
They can do that but can´t change the trends caused by the halving all they can do is surfing the prices trying to buy and sell gaining something but long term btc is going up.

>what is demand
Something that has not decreased since early 2017 , the late 2017 were normies fomoing btc demand has been constant since then.

>1800 btc mined each day
Soon to be 900

>dude.. just stfu you have no clue how any of this works

I have been using btc to pay for things for real , those numbers were examples , but that´s exactly how it works.
Maybe not in the first world were people would not waste time doing this , but go to brasil , argentina , nigeria , mexico and most fucking countries outside sepa and swift and that´s exactly how it works.

[Anonymous No.13100363]

>>13099576
They call it a scam until they don't, just like with the radio, just like with the internet.
Remember, normies are not leaders, they are followers. Who leads the markets?
All it takes is a company like Amazon or Apple releasing a product endorsing and/or including a crypto related service and boom, the entire thing is validated in their eyes.

[Anonymous No.13100374]

>>13100180
This is a good point. The fact that crypto retards always worry about how much their shitcoins cost in fiat is a good indicator of how much faith they have in this scam on a subconscious level.

[Anonymous No.13100385]

>>13100363
You always worry how much your shitcoin costs in fiat, retard. Until normans start worrying about how much fiat is worth in your shitcoins (PROTIP: won't happen) your shitcoins have a target price of $0.

[Anonymous No.13100386]

>>13099532
It's worse than a scam. It's technology with no use case at all. Why in the hell would anyone buy money to use money? it makes no sense.

[Anonymous No.13100394]

>>13100331
On this you are correct , the early ones have a lot to gain by simulating movements.
That said the number of early btc is lower than you may expect , 4m lost and no longer moving 800k satoshi and never moved and 800k goxed and rarely moved by the hackers who can´t sell without having law enforcment into them.

The biggest earlier wallet moved periodically has 36k btc.
The rest of the big wallets are exchanges or simply never moved in half a decade.

[Anonymous No.13100396]

>>13100385
It's about trading retard. Just because you trade usd/gold it doesn't mean that the target price of $ is 0

[Anonymous No.13100399]

>>13100374
>>13100385
>This is a good point. The fact that stock retards always worry about how much their stocks cost in fiat is a good indicator of how much faith they have in this scam on a subconscious level.
Wow, we got a real fucking rocket surgeon over here. How rich are you, anon?
>nb4 stocks represent something more to the average investor than an entry in a database.
lol
>>13100386
>Why in the hell would anyone buy money to use money? it makes no sense.
Just when I thought the posters in this thread couldn't get any stupider.

[Anonymous No.13100401]

>>13100386
Because countries put capital controls and don´t let you send wires?

Most countries in the world are literally outside the banking system , only way to pay things internationally is with credit cards which are given to 5% of the pop if lucky of those countries.

If you for example want to migrate from south africa to the us you are not allowed to take your property with you , on a plane you can´t take more than 10k usd worldwide.

What option are you left?Bitcoin

The same happens in all of south america , asia and africa.

>>13100363
Exactly.

[Anonymous No.13100402]

>>13100255

Yeah, that actually has me optimistic that we might hit 120k-150k in the next bull, since everyone is predicting 100k. Hell maybe even 200k; it would only be a 10x from the last ATH, and 20k was a 20x from the ATH before that, so it would be a reasonable progression. This will be interesting.

[Anonymous No.13100412]

>>13100396
Try trading your shitcoins for gold or oil. Oh wait you can't. There you go.
>>13100399
You don't even know what the fuck shitcoins are so that kind of proves my point of shitcoin holders being retards. Thank you.

[Anonymous No.13100420]

>>13100402
It´s truly impressive that the most lunatic holders predicting insanities were even conservatives to the real price.

I laughed my ass seeing those posts BTC 3000 by 2017 , lol you are retarded xD.

Then it ended up being 19k.

But this happened in every halving and this one is a special one since bitcoin will have literally less inflation than the usd and gold after this one.
Anything could happen.

[Anonymous No.13100421]

>>13100401
>can’t take more than $10k
Sure you can, you just have to declare it
>what option are you left with
I’ll take bank transfers for $1000 please Alex

[Anonymous No.13100442]

>>13100412
This is indeed a market gap but absolutely unrelated with what I said above

[Anonymous No.13100447]

>>13100421
>Sure you can, you just have to declare it

Most countries don´t even let you and you risk losing it all until you prove you are not pablo escobar.

>I’ll take bank transfers for $1000 please Alex

So instead of doing a btc transfer that will take 10 min you will do a wire that will take weeks cost 1000 usd and can be frozen at any time until you prove you are not pablo escobar.

Worse you are assuming that the second country you are moving will let you open a bank account which they may not and even if you somehow open they will ask the origin of the funds and you will not be able to prove it if you are not from a first world country.

[Anonymous No.13100452]

Normalfags got burned the fuck out
I have a friend who just throws insane amounts of money at everything. He threw 6 grand at Star Citizen but still considers it a good investment
He threw even more on 2017 shitcoins like neo and ltc at the top. After a couple months of talking about it every day and eating every falling dagger he now calls crypto a scam whenever its brought up.

[Anonymous No.13100458]

>>13100385

y i k e s

i suggest leaving this board until you're a bit older. this conversation isn't for you.

[Anonymous No.13100477]

>>13100458
>5 posts by this ID
Someone is worried... Don't forget: target price $0.

[Anonymous No.13100495]

This time it’s really dead, guys. Just like it was in 2013.

[Anonymous No.13100499]

>>13100386

it's a store-of-value first. it won't be a universally-accepted world currency until it's absorbed gargantuan amounts of capital and the volatility has vastly decreased. we're looking at 15-20 years or so, possibly sooner depending how global economies & governments fare.

it is a currency, but it's valuable as one because it's the hardest form of money known to mankind. it will have to eclipse its predecessor in the arena of hard money, gold, before moving on to become a unit of account.

[Anonymous No.13100511]

>>13099532
>>13099533
>heavily retarded normies suffering from the Dunning Kruger meme

[Anonymous No.13100515]

>>13100499
Everybody already forgot about it. The only place you'll see it mentioned anywhere in 15-20 years is on wikipedia.

[Anonymous No.13100534]

>>13100515

here's your last (you), lazy bait at this point tho

[Anonymous No.13100535]

>>13099888
How can all of these basically unheard of exchanges make up 95% of the inflated volume? You can't turn thousands in volume into billions

[Anonymous No.13100536]

>>13100515
It will be there anon, but not to ridicule. Screen cap this.

[Anonymous No.13100740]

>>13099532
most of them will change opinion when we switch to bull

Soros has been pumping and dumping crypto since at least 2011 why would he stop now

[Anonymous No.13100763]

>>13100740
>most of them will change opinion when we switch to bull

Most didn't buy during the 2017 bullrun. Why would they buy in the next bullrun?

[Anonymous No.13100807]

>>13100763
cause its gonna be bigger and more badass?

[Anonymous No.13100837]

>>13100763
because the number of retards who buy the top increases each bullrun. you state that "Most didn't buy" last time, yet the price still hit 20k.

[Anonymous No.13100843]

>>13099532
>>13099533
That thread is overall quite mild. The nocoiners are only now starting to feel confident again after the unmerciful assraping of 2017. I won't be comfortable until r/buttcoin is back at full euphoria. Maybe after a tether exit scam or something.

[Anonymous No.13100919]

>>13100843
indeed, there is too much greed in the air still, too many people taking for granted that it'll be $100k+/btc guaranteed. having said that, with the likes of Jack Dorsey blowing btc's horn, do you think it will have a snowball effect or the publicity will fizzle out?

[Anonymous No.13100940]

>>13100919
I would be comfortable with a little more downside but who knows, it could hold here.

[Anonymous No.13100947]

>>13099532
Bullish as fuck

[Anonymous No.13100972]

>>13100940
agreed, as always it could go either way. I'm inclined to believe it will go down further as there hasn't been enough pain since the heady highs of 2017 yet, but if/when Bakkt launches and consequently Starbucks accept Bitcoin, there may be no going back to current levels after that

[Anonymous No.13100979]

Holy fuck this thread is the biggest buy signal.

[Anonymous No.13100992]

>>13100837
>because the number of retards who buy the top increases each bullrun

Until it doesn't.

[Anonymous No.13101008]

>>13100511
This + confirmation bias

[Anonymous No.13101025]

>To summarize: The bitcoin market is smaller, but more efficient and regulated, than reported, mitigating concerns around market manipulation.
REDDIT FAGS BTFO

[Anonymous No.13101031]

>>13100919
>too many people taking for granted that it'll be $100k+/btc

It seems like that, since we spend a lot of time on /biz/, but I noticed almost nobody outside of /biz/ believes that, or dares to say it out loud. Normies never talk about crypto anymore and comments under news stories in media are full of people saying bitcoin is shit and will never recover. Every so often I see someone defending it, but it's rare. Most of the people already believe crypto is done.

[Anonymous No.13101040]

>>13100992
considering development and promotion is increasing, the level of adoption would have to be staggering in order for people to stop buying in droves during a bullrun

[Anonymous No.13101041]

this is incredibly bullish

[Anonymous No.13101051]

>>13101031
that's good to hear, thanks for sharing your insight. I don't talk to anyone about crypto IRL so wouldn't otherwise know this. the BTC Reddit has over 1m subscribers and they seem deluded however, hopefully most of the subs are dead accounts or no longer give a shit about bitcoin at least

[Anonymous No.13101086]

>>13101031
>but I noticed almost nobody outside of /biz/ believes that, or dares to say it out loud.
stop checking normalfag places like reddit and msnbc
literally every shitcoin discord/telegram i check everyone is just waiting for the next bullrun 20k+ to pump their bags

[Anonymous No.13101135]

>>13101051
>I don't talk to anyone about crypto IRL
Same

[Anonymous No.13101170]

>>13101135
seriously, I don't see why anyone would. in a bear market, they'd take the piss out of you. in a bull market, they'd want something from you. fuck those vultures anon

[Anonymous No.13101713]

>>13099532
Bitcoin / crypto speculation is a huge waste of time and energy.
Bitcoin is bullshit, pure horsecrap since it's a useless currency and "muuuh, store of value" is only a meme for retard gamblers who need SOMETHING to fuel hopium.

I like useable currencies and smart contract platforms. They actually create some value and is a decent hedge against hyperinflation.
But bitcoin is for laggtards, muuuuh lightning netwoooork.

[Anonymous No.13101742]

tl;dr: shitcoins supreme defines this anons portfolio

[Anonymous No.13101757]

>>13101040
Development isn't increasing. They don't even have a fucking roadmap.

[Anonymous No.13101780]

>>13099830
Underrated post, +10dkp

[Anonymous No.13101833]

>>13099532
>caring what normies think
Normies always buy high and sell low. These same people will be saying, in 2021 when BTC is 100k, "oh man if only i knew, back then it seemed like such a scam". Normies are afraid of risk and only invest in the established norm. Nothing emerging

[Anonymous No.13101853]

>>13101757
>They don't even have a fucking roadmap.
Lmao, you must have jumped on the bandwagon in 2017/18. A roadmap isn't necessary. Github is all that's needed to report progress.

[Anonymous No.13101891]

>>13100421
Have you actually done international bank transfers?
I've been living internationally all my life and it's getting worse and worse every year.
These days, the bank will interrogate you on the source of funds, ask you what the money is going to be used for, whats your relation with the person you are sending it to, etc etc. You need their approval to send your OWN fucking money to your OWN fucking bank account.
Not to mention all the BS fees they charge. Lifting charge, wire charge, remittancr charge, receiving charge. Its all fucking BS.

[Anonymous No.13102370]

lol

[Anonymous No.13102387]

>>13101853
Github is just a place for storing source code. No roadmap means no direction. Having no concrete strategy or being secretive about it is a classic sign of a Ponzi scheme.

[Anonymous No.13102395]

>>13100421
lol if you think anyone actually wants to use a bank for anything other than free notarizing.

[Anonymous No.13102409]

>>13099532
>>13099533
>>13099576
Imagine unironically thinking that normies not believing in crypto is bearish. It was guys like you who bought the top in 2017.
> Omgz everyone is talking about crypo!! Even my hairdresser!!! It's on CNBC!! Everyone is buying crypto, what a great time to buy!!!!111
And this thread is you coping. Brainlets like you are born to buy high and sell low. We can't all be winners.

[Anonymous No.13102615]

>>13099532
>Normies hate Trump and all statistics and fundamental analysis points to Clinton winning the election
>Trump blows their anuses out and causes them to screech autistically and cry in the street.
Yeah, I'm gonna not listen to the sheeple and continue investing in the future of money, thanks for the fud though.

[Anonymous No.13102765]

>>13100363
This 10000x
Couldnt have said it better myself

[Anonymous No.13102897]

>>13102409
you fucking mouth breathing fuckwad of shit
this is literal the opposite of that, by your own admission
Jesus christ how are you even intelligent enough to type?

[Anonymous No.13102902]

>>13102387
https://github.com/bitcoin/bitcoin/projects

[Anonymous No.13102970]

>>13099532
no worry, they will FOMO in once we reach a new ATH

[Anonymous No.13102995]

>>13099532

This is bullish AF. Reddit is so far behind and so soi it amazes me. If there is another dip, I'm buying more crypto. If I've learned anything about reddit, is that they are typically wrong and they are going to be on the wrong side of history.
Soi society can't survive as it doesn't have any real mechanism of spreading itself now. Soi people refuse to reproduce and are such losers they won't have any influence over society in a few years.

[Anonymous No.13103039]

>>13101713
>I like useable currencies and smart contract platforms. They actually create some value and is a decent hedge against hyperinflation.
what did he mean by this?

[Anonymous No.13103600]

>>13100535
wash trading by bots to make exchanges look more attractive to users
Some of the exchanges >>13099888 mentioned also use tx mining, which leads to inflated volume

it's easy to taint CMC data like this, I could create Nigger Exchange and wash trade 1t volume/day

[Anonymous No.13103641]

>>13099569
Based. There will always be poor people and wagies because there will always be stupid bootlickers.

[Anonymous No.13103646]

>>13099576
What if i told you that normies never bought BTC in the first place and that 95% of the volume during the 2017 bullrun was fake?

[Anonymous No.13103682]

every late adopter hates bitcoin, but thats because they've seen it go from zero to thousands and completely missed out, like most of biz. they either turn into cringeworthy buttcoiners, or even more cringeworthy altcoiners that think someday bitcoin's going to be replaced by whatever shitcoins they own.

fact is that only applies to the failures of this generation. people are being born today into a world with bitcoin, just like people are being born into a world with gold. will they feel bad about not being able to buy into bitcoin when they're 5 years old? culture forms over genetations, and money does too, while technology (altcoins) gets replaced over time.

[Anonymous No.13103721]

>>13103682
This is very important. If you ever want normies to buy in again, you need to give them some mechanism to cope with their early stupidity. No one wants to buy in for 3% gains to watch Richard Heart drinking from a gold chalice.

[Anonymous No.13103872]

>>13102902
Technical notes aren't roadmaps. They don't have a vision for Bitcoin's future.

[Anonymous No.13103925]

>tfw you fell for the bitcoin meme
>its been a year and still hasnt recovered

NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO I WANT MY MONEY BACK