Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[OutOfMemory]

@JJG

December 22 2021
Why bitcoin is worse than a Madoff-style Ponzi scheme
A Ponzi scheme is a zero-sum enterprise. But bitcoin is a negative-sum phenomenon that you can’t even pursue a claim against, argues Robert McCauley.

https://archive.fo/acY5H

An opinion, while a strange one, i'd summarize the article.
What stands out is this:

And the operators take away a large portion of the money.

Who should resemble the "operators" of the "ponzi scheme", Bitcoin is accused as in the scope of the article?
Early adopters?
Miners?

As the author wrote all the four observations, of which the above is one, ring true for Bitcoin, without further explanation.

Observing $51,057 & hopeful of a continuation of the bull run. I know I sold 25% (after so many years hodling) but nothing would make me happier than seeing us break out to the upside & see new ath’s in 2022. I feel like we’re at a bit of a crossroads at the moment. As JJG says, this feels like no mans land. We’re either going to pump massively or the bull run is over & we go below $30,000.

I’m well prepared for either direction but much prefer up. I just don’t think we’re going to consolidate in this current price range for long. It’ll be a volatile move in either direction soon.

I don't know we kind of went sideways most of 2021 feb 18 2021 we first topped 51k and dec 27 2021 just about 51k

I feel covid-19 stretched the cycle and made it weird.

 the s2f guy should claim this for twisting his model out of shape.

and last 23 days of this month  are between 47k and 51k


So sideways looks like the theme.  @ JJG I know BTC does not go sideways.  Until it does

I rather think that China's exit from the crypto market delayed the cycle(s). Not only by taking huge volume out, which has mostly been picked up bravely by other participants, but also by shifting hashpower to different locations, worldwide.
Covid brought us some very time/event correlated dips, but as the uncertainty vanished, the price went up again, to compensating orders.
It's now a question of other nations to follow suit to China, but the impact(s) should be comparably low, imho.


OOM's back from christmas "holidays" (which were more like hard work), undersexed again, but wife was starting to try some suggested methods to combat her PMDS (or "light" PMDD) recently. It can only get better, imho.
Hope y'all had an awesome christmas time 

[shahzadafzal]

An opinion, while a strange one, i'd summarize the article.
What stands out is this:

And the operators take away a large portion of the money.

Who should resemble the "operators" of the "ponzi scheme", Bitcoin is accused as in the scope of the article?
Early adopters?
Miners?

As the author wrote all the four observations, of which the above is one, ring true for Bitcoin, without further explanation.

Actually they know there’s no way they can prove such claims against bitcoin.

This was just a clickbait and the title itself “Bitcoin is worse than a Ponzi Scheme”. “Title” was the one they were selling not the article not the facts or any thing.

Because they know most people will read the tweet and headline and that’s all.

And that’s what happened if you read top comment on Twitter, it’s clear they didn’t read the article and accepted the title.

I totally agree. Burning millions in fossil fuels daily to generate electricity for what? Ether and a system designed by organized crime to launder billions in any country they want.

[El duderino_]

[El duderino_]

[OutOfMemory]

An opinion, while a strange one, i'd summarize the article.
What stands out is this:

And the operators take away a large portion of the money.

Who should resemble the "operators" of the "ponzi scheme", Bitcoin is accused as in the scope of the article?
Early adopters?
Miners?

As the author wrote all the four observations, of which the above is one, ring true for Bitcoin, without further explanation.

Actually they know there’s no way they can prove such claims against bitcoin.

This was just a clickbait and the title itself “Bitcoin is worse than a Ponzi Scheme”. “Title” was the one they were selling not the article not the facts or any thing.

Because they know most people will read the tweet and headline and that’s all.

And that’s what happened if you read top comment on Twitter, it’s clear they didn’t read the article and accepted the title.

I totally agree. Burning millions in fossil fuels daily to generate electricity for what? Ether and a system designed by organized crime to launder billions in any country they want.

True, i didn't read the comments.
The article really has that "eat or die" appeal to it, lacking explanations and reasoning.

[d_eddie]

@JJG

December 22 2021
Why bitcoin is worse than a Madoff-style Ponzi scheme
A Ponzi scheme is a zero-sum enterprise. But bitcoin is a negative-sum phenomenon that you can’t even pursue a claim against, argues Robert McCauley.

https://archive.fo/acY5H

An opinion, while a strange one, i'd summarize the article.
What stands out is this:

And the operators take away a large portion of the money.

Who should resemble the "operators" of the "ponzi scheme", Bitcoin is accused as in the scope of the article?
Early adopters?
Miners?

While in the fiat scheme, the "operators" do not take away anything. Amirite?

[OutOfMemory]

@JJG

December 22 2021
Why bitcoin is worse than a Madoff-style Ponzi scheme
A Ponzi scheme is a zero-sum enterprise. But bitcoin is a negative-sum phenomenon that you can’t even pursue a claim against, argues Robert McCauley.

https://archive.fo/acY5H

An opinion, while a strange one, i'd summarize the article.
What stands out is this:

And the operators take away a large portion of the money.

Who should resemble the "operators" of the "ponzi scheme", Bitcoin is accused as in the scope of the article?
Early adopters?
Miners?

While in the fiat scheme, the "operators" do not take away anything. Amirite?

Yorite.
They only add.
Brrrrrrrr 

[Biodom]

@JJG

December 22 2021
Why bitcoin is worse than a Madoff-style Ponzi scheme
A Ponzi scheme is a zero-sum enterprise. But bitcoin is a negative-sum phenomenon that you can’t even pursue a claim against, argues Robert McCauley.

https://archive.fo/acY5H

An opinion, while a strange one, i'd summarize the article.
What stands out is this:

And the operators take away a large portion of the money.

Who should resemble the "operators" of the "ponzi scheme", Bitcoin is accused as in the scope of the article?
Early adopters?
Miners?

While in the fiat scheme, the "operators" do not take away anything. Amirite?

in the other "ponzi", who do i "pursue a claim against" for giving me 0.001% on my savings account and brrr-ing 40% of currency in 1-2 years?
a rhetorical question.

[Phil_S]

FT Alphaville, also known as a home of Izabella Kaminska

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[El duderino_]

CB

Break up before there is no stopping anymore…

[d_eddie]

How was CB supposed to do all the heavy lifting on an empty stomach while we were stuffing our faces with Xmas delicacies? Poor thing! Let's fix him at least a tasty leftover sandwich...

[cAPSLOCK]

Just touched that up a smidge:

[Richy_T]

Is that inflation adjusted?

Savings, including retirement, represent a huge juicy target and the schemers have contrived to help themselves to them with effective impunity.

[ChartBuddy]

Explanation

[Richy_T]

Ugh. Not this shit again   

[ChartBuddy]

Explanation

[philipma1957]

@JJG

December 22 2021
Why bitcoin is worse than a Madoff-style Ponzi scheme
A Ponzi scheme is a zero-sum enterprise. But bitcoin is a negative-sum phenomenon that you can’t even pursue a claim against, argues Robert McCauley.

https://archive.fo/acY5H

An opinion, while a strange one, i'd summarize the article.
What stands out is this:

And the operators take away a large portion of the money.

Who should resemble the "operators" of the "ponzi scheme", Bitcoin is accused as in the scope of the article?
Early adopters?
Miners?

While in the fiat scheme, the "operators" do not take away anything. Amirite?

in the other "ponzi", who do i "pursue a claim against" for giving me 0.001% on my savings account and brrr-ing 40% of currency in 1-2 years?
a rhetorical question.

How about 20 unbalanced deficit budgets in a row

year..loss..............

2002 $158 billion.....
2003 $378 billion
2004 $413 billion
2005 $318
2006 $248
2007 $161
2008 $459

2009 $1,413
2010 $1,294
2011   $1,300
2012   $1,087
2013   $680
2014   $485
2015   $438
2016   $585

2017   $665
2018   $779
2019   $984
2020   $3,100

2021   $3,000


Year after year after  more and more in the hole. No end to this in site.


Source was here
https://www.thebalance.com/us-deficit-by-year-3306306