Beany Babies. Bitcoin is the Beany Babies of fiat currencies.

[5.56NATO]

One Bank Believes It Found The Identity Of Who Is "Propping Up The Bitcoin Market"
Back in May when the Chinese domination over Bitcoin was ending, we predicted that it would shift over to Japan, specifically, we said that "just as the Chinese bubble frenzy in bitcoin is fading, it may be replaced with a new one, in which thousands of Mrs. Watanabe traders shift their attention away from the FX market and toward digital currencies" and added that "If the transition is seamless, there is no telling just how far this particular bubble can grow."

Judging by the exponential price surge in bitcoin in the subsequent period, we were clearly right on the latter, and now, according to a new analysis, we were also right on the former, because as Deutsche Bank reveals in a new report by Masao Muraki, "Japanese men in their 30s and 40s who are engaged in leveraged FX trading (or who used to trade but have stopped) are driving the cryptocurrency market" and who according to DB, happen to be more or less idiots, arguably because for the time being they are outperforming every other asset class... in history, to wit: "Japanese retail investors are less financially literate than their US peers across all age groups. Compared to the US, financial literacy is particularly poor among people 35-54 years of age. The poor literacy of Japanese retail investors also stands out beside UK and German investors."

Ah yes, by contrast the financial literacy of the world's central-planners is off the charts. Look where that got us...

In any case, and without further ado, please meet the (rather boring) people who are propping up the Bitcoin market, at least according to Deutsche Bank.
http://www.zerohedge.com/news/2017-12-14/one-bank-believes-it-found-identity-who-propping-bitcoin-market

[5.56NATO]

Goldman Sets 100% Margin Requirement On "Some" Bitcoin Futures trades
Goldman Sachs has become the latest brokerage to raise its margin requirements for clients who wish to trade the new bitcoin futures launched by the CBOE late Sunday, following in the footsteps of Interactive Brokers, which initially prohibited clients from taking a short position in the futures contracts and later demanded more than a double margin in case a short leads to a greater than 100% loss.

Not surprisingly, the Vampire Squid is taking a similarly cautious approach, announcing that it will ask some of its clients to put up 100% margin on their bitcoin futures positions if they wish to clear them with the bank, suggesting the bank would be covered in case of a full loss on the underlying.

Of course, by "some", the bank probably means clients who are seeking to short the digital currency - a sign that the bank is afraid it could be left on the hook for customers' losses if there's a vicious "Bitcoin Volkswagen" which wipes out short positions. By demanding full margin, Goldman's clients may as well be trading the underlying as there is zero leverage on the associated futures position; effectively, the only benefit from doing such a trade is giving Goldman the "privilege" of holding the bitcoin and keeping it safe from hackers' prying hands.
http://www.zerohedge.com/news/2017-12-14/goldman-demanding-100-margin-bitcoin-futures

What is 'Short Selling'
Short selling is the sale of a security that is not owned by the seller, or that the seller has borrowed. Short selling is motivated by the belief that a security's price will decline, enabling it to be bought back at a lower price to make a profit. Short selling may be prompted by speculation, or by the desire to hedge the downside risk of a long position in the same security or a related one. Since the risk of loss on a short sale is theoretically infinite, short selling should only be used by experienced traders who are familiar with its risks.
https://www.investopedia.com/terms/s/shortselling.asp




So they expect btc to crash hence the mandatory 100 percent cover on short positions, likely to be replaced by some other electronic currency that is similarly based on electrons and nothing else that will also crash. However, inflation loving central banks will likely move to digital currency themselves due the absolute control it will have over people and governments alike, also because they can be inflated to infinity, or deleted with the press of the enter key.

[LAGC]

Biggest. Bubble. Evah.

All those people shorting are going to be wiped out as well, as the currency continues to wildly fluctuate up and down before it finally settles crashing back down below $500.

[alismith]

All this hoopla over something that has a realistic value of 0.

[l921428x]

Pok'e man or however it was spelled.

[raxar]

All this hoopla over something that has a realistic value of 0.

How much do you think the ones and zeros that make up your bank account are worth? How much is the money in your wallet worth?

The exact same thing that makes hard currency valuable, the exact same thing that makes your bank account valuable, is what makes bitcoin valuable, mutual agreement between people that it's valuable.

[Schuetzenman]

I would sooner put rabid weasel in my pants than put money into any crypto currency. They use graphics cards to do math to create or mine these faux currencies. It's like saying the answer to 2+2 is money.

[raxar]

I would sooner put rabid weasel in my pants than put money into any crypto currency. They use graphics cards to do math to create or mine these faux currencies. It's like saying the answer to 2+2 is money.

So explain how that is less legitimate than the government printing designs on paper?


The vast majority of people never actually touch any of their money, their check gets direct deposited then they spend it with credit or debit cards, their bills get paid electronically. What's the difference between that and any other imaginary money?

[Cypher]

One of my biggest concerns with crypto currency is in spite of it supposedly being extremely safe, a few years ago a billion plus BC or so was hacked, lost, stolen and more recently several hundred million. Until it is insured and backed by someone I wouldn't put too much money in it or cash it out for another asset if you make gains. Personally I don't plan on putting anything in it. The values now are fake and inflated and will pop.

[l921428x]

So explain how that is less legitimate than the government printing designs on paper?


The vast majority of people never actually touch any of their money, their check gets direct deposited then they spend it with credit or debit cards, their bills get paid electronically. What's the difference between that and any other imaginary money?

Do you keep cash on hand

[5.56NATO]

One of my biggest concerns with crypto currency is in spite of it supposedly being extremely safe, a few years ago a billion plus BC or so was hacked, lost, stolen and more recently several hundred million. Until it is insured and backed by someone I wouldn't put too much money in it or cash it out for another asset if you make gains. Personally I don't plan on putting anything in it. The values now are fake and inflated and will pop.

In what sense is it safe? Several billion $ in btc have been "lost", and you can be sure hacks are looking at every possible attack angle right now. Anyway, btc is the tulip bulb bubble of 2017 save that tulip bulbs are real.
https://www.investopedia.com/terms/d/dutch_tulip_bulb_market_bubble.asp

Also


Beanie Babies!
https://qz.com/114753/meet-the-family-who-lost-100000-when-the-beanie-baby-bubble-burst/

[Cypher]

Each coin is based on a unique number, like a serial number. But that apparently doesn't mean jack if it was stolen from the repository that was managing the numbers.

[raxar]

Do you keep cash on hand

I'd have to have money in the first place to keep cash on hand.

[5.56NATO]

Evidence points to Bitcoin being an NSA-engineered psyop to roll out one-world digital currency
What evidence supports this notion? First, take a look at this document entitled, “How to make a mint: The cryptography of anonymous electronic cash.” This document, released in 1997 — yes, twenty years ago — detailed the overall structure and function of Bitcoin cryptocurrency.
https://www.naturalnews.com/2017-12-10-evidence-points-to-bitcoin-being-an-nsa-psyop-roll-out-one-world-digital-currency.html#


This is how it all works;
'Dark Money' Runs The World
For the last 40 years, most people believed the stock market always goes up. Simply buy and hold long enough, the theory went, and you could sit back and watch the money accumulate in your account. No thought or hard work needed.
It was a nifty strategy — until the idea burned most investors in 2008. Almost a decade later, the scar tissue is still fresh for many investors.
Even today, after the U.S. stock market has rallied by 271% since the bottom on March 6, 2009 — nearly tripling investors’ money — only about half of Americans are invested in the stock market, according to NPR. That’s down from two-thirds compared to a decade ago.
The rest are in cash on the sidelines. Maybe that’s been you.
Ideologies and personal associations among elites are oblivious to political party lines and international boundaries. So is dark money.
http://www.zerohedge.com/news/2017-12-16/nomi-prins-dark-money-runs-world



To be accurate, every fiat currency ever used by man has failed, from sea shells to salt to btc to Federal Reserve Notes, all of them fail. Only gold and silver, precious metals, have been money for 5000 years of human history.

[l921428x]

No c & P

[LAGC]

Bitcoin lost a third of its value in 24 hours


Bitcoin prices plunged sharply to below $11,000 on Friday, shedding a third of its value in just 24 hours, according to data from CoinDesk.com. It later rebounded slightly to around $12,000 -- but that's still a stunning 25% less valuable than bitcoin was Thursday morning.

http://money.cnn.com/2017/12/22/investing/bitcoin-plunges-below-14k/index.html

Fools. Once enough people realize there is nothing tangible backing that currency up, investors (speculators) are going to lose it all.

[5.56NATO]

Bitcoin lost a third of its value in 24 hours



http://money.cnn.com/2017/12/22/investing/bitcoin-plunges-below-14k/index.html

Fools. Once enough people realize there is nothing tangible backing that currency up, investors (speculators) are going to lose it all.

This pump and dump is glorious. Also, note that a few guys who created digital currencies have sold all of their holdings in same, lol. I wonder what they know that we don't?

[alismith]

This pump and dump is glorious. Also, note that a few guys who created digital currencies have sold all of their holdings in same, lol. I wonder what they know that we don't?

That everything about Bitcoin is smoke....

[LAGC]

https://www.youtube.com/watch?v=DFbUF8FWfiY

[5.56NATO]

The best part is every hacker in the world is touting his new crypto as the safest, the true real crypto - unlike all those other cryptos that are in no ways different. You can build a crypto in your pc at home and make zillions (if you fool enough people and get out at the peak of your mlm/ponzi scheme)!

[LAGC]

http://broadstuff.com/uploads/Bitcoin.JPG

http://www.broadstuff.com/uploads/BitcoinII.jpg

[5.56NATO]

Remember to buy the dip! After the crash of 29, entire industries were bought up for pennies on the dollar.
Pennies On The Dollar!
By those who had cash of course.
And who had the cash?
The banksters!

The setup was glorious, oh so evil, oh so intricate (a line from a fallout boy song). Say you had a radio man ufacturing plant and business was doing great in 1927. So some store representatives come to you and say they want x number of x model - a really massive order - and you say we will get right on it! But one problem arises, keeping you from this vast fortune - you don't have enough capacitors to make that many, and your capacitor vendor is maxed out making caps for you and every other radio maker. What to do? I know, I'll get a loan from my bank and start building my own caps, wich of course will need a new factory, production machinery, materials, and employees. So you sign away your factory and fortune as collateral and the bank says we'll be gl;ad to loan you the money. And they do.

However, suddenly your contract to make these x models for your buyer has a clause activated! In the fine print it says that if the radio builder can't come up with ordered radios by such and such time damages will apply! The buyer demands radios today, and activates his clause. The damages are more than the radio builder can stand and he shuts his factory down, laying off thousands, and here he just took on millions in new debt for a capacitor factory. See how they got these folks to sell entire industries for pennies on the dollar in a completely contrived "economic crisis"?

The above is a true story but I don't recall what radio maker it was, just that he wasn't the only one. I think it was rca who went around buying up all the smaller makers after the crash and consolidated its monopoly on radio patents as well as manufacturing. Only a few larger makers were left, Philco, Hallicrafters, etc to challenge rca and its bankster backers.
But the American radio industry wasn't the only one collapsed and bought out for pennies on the dollar.
Just some musings for you all.

[5.56NATO]

Trump Trade Wars A Perfect Smokescreen For A Market Crash
First, I would like to say that the timing of Donald Trump’s announcement on expansive trade tariffs is unusual if not impeccable. I say this only IF Trump’s plan was to benefit establishment globalists by giving them perfect cover for their continued demolition of the market bubbles that they have engineered since the crash of 2008.
If this was not his plan, then I am a bit bewildered by what he hopes to accomplish. It is certainly not the end of trade deficits and the return of American industry. But let’s explore the situation for a moment…
http://www.alt-market.com/articles/3389-trump-trade-wars-a-perfect-smokescreen-for-a-market-crash
also Trump's globalist treas advisor just bailed on him

Rand Paul Adds 'Audit The Fed' Amendment To Senate Banking Bill
“While we have made great strides in reviving our economy through curbing overzealous regulation and cutting taxes, lasting prosperity will escape us if we do not hold the enabler of big government and our astronomical national debt accountable. It’s time for the Senate to side with the American people by removing the shackles on congressional oversight and lifting the Fed’s veil of secrecy. It’s time for us to pass Audit the Fed,” Paul said in his press release.
https://www.zerohedge.com/news/2018-03-06/rand-paul-adds-audit-fed-amendment-senate-banking-bill
it's on now!

[LAGC]

Nearly $13 billion wiped off of cryptocurrency market as major coins plunge


The price of major cryptocurrencies plunged on Thursday with nearly $13 billion of value being wiped out in a matter of hours.

At around 10:23 a.m. HK/SIN, bitcoin had fallen nearly 5 percent to $6,303, while XRP and ethereum both tanked over 10 percent, according to data from Coinmarketcap.com. It's not unusual to see bitcoin lead other digital tokens lower.

In just three hours, nearly $13 billion of value had been erased from the entire cryptocurrency market.

The drop comes amid fresh warnings from financial authorities about the rapid growth of digital coins and the potential threat to the economy.

https://www.cnbc.com/2018/10/11/bitcoin-price-nearly13-billion-wiped-off-cryptocurrency-market.html

DOWN SHE BLOWS!!!

[5.56NATO]

Nearly $13 billion wiped off of cryptocurrency market as major coins plunge



https://www.cnbc.com/2018/10/11/bitcoin-price-nearly13-billion-wiped-off-cryptocurrency-market.html

DOWN SHE BLOWS!!!



This was likely in response to the market losing 1k points in a day. Everything went down save for precious metals. The imf has been warning about a collapse coming, started by a single domino ie Italy, Spain, Greece, etc.

http://www.abc.net.au/news/2018-10-04/world-vulnerable-to-another-financial-meltdown-warns-imf/10337490

Fed's still intent on increasing rates, while the velocity of money slows and liquidity is drained from the system.