Is the Bitcoin bull run starting?

[mookiemcgee]

WOWouldn't it be warmer near the refinery?

I prefer to stay close to the sugar plant, my rat friends (actual rats not democrats saxi) promise to share their spoils with me

[mookiemcgee]

Vallejo, CA 94590

ITT we learn mookie is ZODIAC

OK BOOMER

[mookiemcgee]

I'll watch pretty much any video where they guys says whack-off a bunch of times....add in Matrix references and I'll orgasm twice

[saxitoxin]

Here's my manipulation theory.

- Reports of UFO sightings are increasing; the Navy has started validating them, even Obama mentioned them two days ago. After 70 years of adamant denials, UFOs are being rapidly mainstreamed, seemingly overnight.
- The Fed has started more frequently discussing rolling out FedCoin.
- Interest rates are too low to be lowered further. If there's another global crisis like the 2020 pandemic, interest rates will have to be dropped to zero percent. People will start converting their bank accounts into paper money rather than be charged deposit fees. If that happens, the banking system will collapse.
- A crisis is coming. It is known.
- To ensure the United States survives the coming crisis as a functioning nation-state, the Fed is preparing to launch FedCoin and abolish paper currency. The only way to use money will be through bank-issued debit/credit cards or FedCoin. This will keep the American banking system alive - at least on life support - through the coming disaster.
- In order for FedCoin to be viable against other cryptos, the rest of the cryptos need to be crashed first.

[HitRed]

UFOs?

[mookiemcgee]

UFOs?

Duh.... Liz Cheney!

[HitRed]

I’ll start looking for unicorns. Keep you posted.

[Dukasaur]

Sarah Palin can shoot down the UFOs from her back yard.

[mookiemcgee]

I’ll start looking for unicorns. Keep you posted.

Just ask God what direction to look!

[HitRed]

Bit lower today.

[mookiemcgee]

Bit lower today.

Think the bottom hit over the weekend around 31k... things actually back up a bit today

[saxitoxin]

Even my Cardano is en route to recovery!

[mookiemcgee]

THE FUTURE IS NOW!!!!!!

[mookiemcgee]

It's looking like one more bloody Sunday coming tomorrow... Look for lows of BTC around 23k-25k as a STRONG BUY signal.

[HitRed]

I can’t perdict he price of silver on any given day. What will make Bitcoi drop so bad tomorrow?

[mookiemcgee]

I can’t perdict he price of silver on any given day. What will make Bitcoi drop so bad tomorrow?

I'm educating guessing, it's certainly not a for sure thing. but the last 3 Sundays have seen very significant drops, and I'm just predicting a third because it's been slipping since Thursday... That said... my short not fully explained more technical answer is fibo resistance levels...we are either in a full bear market that is going to last a year (why a year? the halvening results in 4 year pricing cycles, with 2 year intermediate bear/bull bottoms/tops)... or we had a 'blow off top' after the most recent all time high (around 65k) and we are 'discovering' the bottom and will see another bull run even bigger than the last which will top out between Oct21-Jan22 well over 100k.

to give you a totally different type of answer... what if you knew that X amount of silver gets mined every day. What if you knew that in 12 months that amount (overnight, all at once) was going to get cut in half moving forward... would that help you predict the price of silver in 12 months?

That's not what's happening 'this weekend' in crypto, but it is the fundamental basis upon which my more general long term predictions are based. The demand side is harder to predict, but as something 'new' we can assume over time more and more people are going to join (adoption curve). Silver and gold are not new, they have no adoption curve. It's even more difficult to predict demand, but if you knew supply was going to get cut in half you would still be 'smart' to buy it now given that demand is unlikely to get cut in half.

[HitRed]

I understand. If Bitcoin published new acccounts would be a huge indicator of future demand. I would love that information.

Silver - The pandemic is slowly ending. The social spending should likely decline. Hurting the demand for silver and gold as a hedge against a devalued dollar.

Biden did announced a 6 Trillion spending package yesterday. This is likely dead on arrival in Congress. We’ll see. If the Republicans are elected in 2022 silver will fall. So will gun sales.

But I doubt we’ll will ever see a return of 90% silver American coins stacked in coins shops like water. They are being replaced by silver rounds which means they are gaining some type of numismatic value.

[mookiemcgee]

I understand. If Bitcoin published new acccounts would be a huge indicator of future demand. I would love that information.

Silver - The pandemic is slowly ending. The social spending should likely decline. Hurting the demand for silver and gold as a hedge against a devalued dollar.

Biden did announced a 6 Trillion spending package yesterday. This is likely dead on arrival in Congress. We’ll see. If the Republicans are elected in 2022 silver will fall. So will gun sales.

But I doubt we’ll will ever see a return of 90% silver American coins stacked in coins shops like water. They are being replaced by silver rounds which means they are gaining some type of numismatic value.

What do you mean by new accounts exactly? Bitcoin has an open permanent ledger... meaning, with time + math everything is open to see. You can see any activity from any wallet dating back to the very first transaction on the network. There are sites dedicated to compiling tracking certain information that might be what you are asking?

one measure is # of wallets holding certain amount of bitcoins (like x wallets hold 1000/bitcoins, y holds 100, z holds 10, w holds 1). Another measure would be how many wallets own any bitcoins (not the most helpful), but another similar metric is how many wallets hold any bitcoin and have had any activity in the last 90/180/360 days.

For instance, here is a chart of wallets which hold less than 1 bitcoin in them currently. It's overlayed with the price of bitcoin over time.
https://www.lookintobitcoin.com/charts/ ... -1000-btc/

(when people say bitcoin needs to stay 'private', they aren't talking about the transactions they are just talking about personal identity tied to wallet ownership/control.)

[HitRed]

I’m assuming to buy Bitcoin you have to have trading account somewhere. So how many people are joining would be almost guaranteed BUYS.

Interesting!

[HitRed]

https://www.foxbusiness.com/technology/ ... id-hackers

Investor confidence deflator

In some ways it reminds me of Project Azorian

Shades of the Glomar Explorer

https://en.wikipedia.org/wiki/Glomar_Explorer

[HitRed]

From what I have read the ownership of the account was transferred to the CIA Northern California. That's an incredible statement!


Note: Thousands of other Bitcoin investors forgot their codes and lost everything. Now, all that has changed. At least for the US Government.

[mookiemcgee]

From what I have read the ownership of the account was transferred to the CIA Northern California. That's an incredible statement!


Note: Thousands of other Bitcoin investors forgot their codes and lost everything. Now, all that has changed. At least for the US Government.

Source? It's really interesting stuff... no idea how they would manage to do re-gain access without access to a computer with the wallet open (or somehow tracking the pass phrase because maybe the hackers for lazy about it or something lol)

The CIA's best hackers work out of Northern California most likely. It's still Mecca for big brains out here

[HitRed]

The Justice Department says it obtained the private key to the wallet the hackers used to store the currency. To recover the money, the federal government took legal action against an exchange or custodial wallet that has servers in Northern California.

Well, if you are handing out private keys how about helping those that forgot their password.


https://www.msn.com/en-us/money/other/a ... r-BB1cL47x

This is due to the characteristics of cryptocurrencies, which, unlike traditional bank accounts or online wallets such as PayPal, do not have any institution or company that stores or can restore lost or forgotten passwords.

False

[mookiemcgee]

The Justice Department says it obtained the private key to the wallet the hackers used to store the currency. To recover the money, the federal government took legal action against an exchange or custodial wallet that has servers in Northern California.

Well, if you are handing out private keys how about helping those that forgot their password.


https://www.msn.com/en-us/money/other/a ... r-BB1cL47x

This is due to the characteristics of cryptocurrencies, which, unlike traditional bank accounts or online wallets such as PayPal, do not have any institution or company that stores or can restore lost or forgotten passwords.

False

To Explain a bit... if you hold your BTC in an actual wallet, it is only accessible/recoverable through the pass phrase (a long string of words you need to enter in a specific order) there is no additional passwords. You lose the passphrase, you lose access forever to the BTC and no one can help you. That is what happened in the MSN link you posted. No Gov't can get it either, it's not stored on some server somewhere... access is just gone. Big BTC holders will do things like imprinting metal with their passphrase (so they can't lose it).

If you keep your BTC on an exchange like Coinbase, you relinquish your right to a hold your own passphrase for the wallet the coins are held in. Instead Coinbase controls the passphrase, and you can access coinbase through a simple password and trade from 'your' BTC wallet...as long as coinbase says it is ok. Crypto people hate CEX, because they are inherently NOT decentralized.

So back to the hackers... there are some weird things about this event. Once they sent him the BTC, anyone (and you better bet the USG was all hand on deck given the scale of this) can track where the BTC goes if it leaves the wallet they sent it to. So the tricky part is what the hacker does with the BTC in that wallet. How does he turn it into fiat or something less traceable? He could just hold it there, and no gov't can do anything about it but it's also not 'useful' to the hacker.

trying to turn BTC back into fiat usually happens on a centralized exchange like coinbase... as a company it's subject to US law. If the GOV'T says turn over the passphrase and has legal standing they must comply. Custodial wallet is the same, they (a company) hold your keys because you don't trust yourself to do it, they don't really offer any other value in the arrangement. Some very large above board BTC whales may use a custodial wallet for long term cold storage, but I don't think a hacker would ever have any reason to use a custodial wallet.


So i guess what I find fishy about this is that usually the hacker gets away with the BTC... because they aren't stupid enough to steal millions of $ and then send it to a wallet where they no longer control the pass key. to trust the keys to it with a Centralized Exchange (or Custodial Wallet), is like a real obvious no-no. If I put my conspiracy hat on, it almost seems like the BTC wasn't really important to them, it was about exposing USA weakness and kinda of points to 'foreign state actor' to me. Could be totally wrong, could be that USG had all man on deck, and maybe this hacker had been getting away with the same scheme on a smaller scale and then immediately moved it to a CEX and just moved things so fast authorities weren't prepared to stop it before it was gone... and this time the big brains got involved and were ready for his gameplan and were able to freeze things in time. Regardless, it's an interesting read and thanks for brining it up here!

[HitRed]

Can the question be answered now?

Is the Bitcoin bull run over?