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  1. #5101
    Craftsman
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    Lolz Somebody got a bargain, already doubled their money and some.

    That is a great example of how you panic sell.

  2. #5102
    Grand Master Raffe's Avatar
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    It's the definition of a flash crash. Happens all the time, just that the magnitudes a far bigger in crypto.
    Someone who lies about the little things will lie about the big things too.

  3. #5103
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    The liquidity on poloniex is poor daily volume is in the hundreds of thousands, rather than millions. I make the assumption an idiot set off a market sell order for a huge amount then the few noobs that keep tokens on exchange with limit order got wiped out.

    Nature of the beast. 24hour markets with low liquidity carry this risk.

  4. #5104
    At least my crtypo exposure is just my men's toys money and my pension is in stocks , wait ......

  5. #5105
    Grand Master Raffe's Avatar
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    Amazing how bitcoin holds up here. Monster selling, but tons of new tethers created to absorb. This could bounce heavily if it succeeds. But obviously, all these new positions will need to be sold back into the market, so it's only borrowed time eventually.
    Someone who lies about the little things will lie about the big things too.

  6. #5106
    Quote Originally Posted by Raffe View Post
    Amazing how bitcoin holds up here. Monster selling, but tons of new tethers created to absorb. This could bounce heavily if it succeeds. But obviously, all these new positions will need to be sold back into the market, so it's only borrowed time eventually.
    Where do you find out that more tether has been printed? (Is it overall market cap of tether?)

  7. #5107
    Grand Master Raffe's Avatar
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    Quote Originally Posted by jonny View Post
    Where do you find out that more tether has been printed? (Is it overall market cap of tether?)
    There are a couple of twitter accounts that are following it, every time there are new coins created and transferred.

    https://twitter.com/whale_alert/stat...37699769274372


    Also, 95% of all tethers in circulation have been created since the 2020 selloff.

    https://jacobinmag.com/2022/01/crypt...centralization
    Someone who lies about the little things will lie about the big things too.

  8. #5108
    Grand Master Raffe's Avatar
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    No doubt, we are living in a simulation.


    Someone who lies about the little things will lie about the big things too.

  9. #5109
    Come down free fake tether money !

  10. #5110
    Journeyman
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    What’s your prediction for the next few hours[mention]Raffe [/mention]?


    Sent from my iPhone using Tapatalk

  11. #5111
    Grand Master Raffe's Avatar
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    Quote Originally Posted by JoeyTudor View Post
    What’s your prediction for the next few hours[mention]Raffe [/mention]?


    Sent from my iPhone using Tapatalk
    That it stays crazy.
    Someone who lies about the little things will lie about the big things too.

  12. #5112
    Grand Master Raffe's Avatar
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    Probably nothing.

    The Biden administration is preparing to release an executive action that will task federal agencies with regulating digital assets such as Bitcoin and other cryptocurrencies as a matter of national security, a person familiar with the White House’s plan tells Barron’s. The national security memorandum, expected to come in the next few weeks, would task parts of the government with analyzing digital assets and assembling a regulatory framework that covers cryptos, stablecoins, and NFTs, or non-fungible tokens, this person said. “This is designed to look holistically at digital assets and develop a set of policies that give coherency to what the government is trying to do in this space,” the person said. The State Department, Treasury Department, National Economic Council, and Council of Economic Advisers would be involved in the initiative. The White House National Security Council would also be involved, the person said, since crypto has economic implications for national security. Along those lines, the administration would instruct agencies to work on harmonizing regulations of digital assets between countries.

    Barron's
    Someone who lies about the little things will lie about the big things too.

  13. #5113
    Welcome news and long overdue

  14. #5114
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    Quote Originally Posted by Daveya. View Post
    Welcome news and long overdue
    Agreed.

    https://youtu.be/zg0-uN2V1Kc


    Sent from my iPhone using Tapatalk

  15. #5115
    Well yes apart from the fact the US gov might be able to confiscate crypto without due process the rest is good

  16. #5116
    Grand Master Raffe's Avatar
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    Someone thought I might be interested in this Board position and referred me - what an opportunity to change the world and make $$ billions at the same time!

    This role is for a passionate GLOBAL INVESTOR (M/W) that aims to leave a legacy for society and have a stake in the next TRILLION DOLLAR GLOBAL UNICORN.
    Our genuine global business culture is 100% fully decentralized with 60 team members, growing every month and spread out over more than 20 countries.
    We are looking for a Global Investor with access to the Global Investment Community and Board position experience.

    I think I'll have to pass though, wouldn't have enough time left to police Sales Corner and really cannot give up on that.

    Anyone else interested and I can put you in touch?
    Someone who lies about the little things will lie about the big things too.

  17. #5117
    A full 60? To big for me, needs someone like Bezos to manage that size of op

  18. #5118

  19. #5119
    Avax about to flip Eth in trading volume

  20. #5120
    Grand Master Raffe's Avatar
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    Quote Originally Posted by Daveya. View Post
    Everytime I read one of these stories, I am asking myself whether they are agreeing a fixed BTC amount and are taking the risk or if it is a pure gimmick of buying bitcoin with the Dollar/Euro salary and then changing it back. As I cannot see any commune taking the risk of bitcoin going through the roof, and salaries need to be fixed in terms of local currency, I bet you all of them are of the latter variety - meaning its a pointless stunt for the headlines only.
    Someone who lies about the little things will lie about the big things too.

  21. #5121
    Quote Originally Posted by Raffe View Post
    Everytime I read one of these stories, I am asking myself whether they are agreeing a fixed BTC amount and are taking the risk or if it is a pure gimmick of buying bitcoin with the Dollar/Euro salary and then changing it back. As I cannot see any commune taking the risk of bitcoin going through the roof, and salaries need to be fixed in terms of local currency, I bet you all of them are of the latter variety - meaning its a pointless stunt for the headlines only.
    Yeah he's paid his 6k a month a salary in equivalent BTC , if it drops that month he loses, if it gains he wins, repeats then every month

  22. #5122
    Grand Master Raffe's Avatar
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    Quote Originally Posted by Daveya. View Post
    Yeah he's paid his 6k a month a salary in equivalent BTC , if it drops that month he loses, if it gains he wins, repeats then every month
    That's not taking your salary in bitcoin. It is just using bitcoin as currency, which is remarkably nonsensical and inefficient.

    But crypto headline.
    Someone who lies about the little things will lie about the big things too.

  23. #5123
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    Reading the article, I don’t think he’s being paid in Bitcoin, it says he’s converting his salary to Bitcoin, which makes it even more of a non story.
    Cheers..
    Jase

  24. #5124

  25. #5125
    Maybe more relevant this address has remarkable success buying high selling low,

    Sold 1500 BTC and 67k and now buying again

    https://bitinfocharts.com/bitcoin/ad...PQUpe554WKDfHQ

  26. #5126
    Intel backing BTC

    Intel will produce a Bitcoin Miner called Bonanza mine, to compete directly with all the Chinese companies (Bitmain, Antminer etc.). Already sold some to a partner, so it's not a rumor.

  27. #5127
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    Quote Originally Posted by Daveya. View Post
    Intel will produce a Bitcoin Miner called Bonanza mine, to compete directly with all the Chinese companies (Bitmain, Antminer etc.). Already sold some to a partner, so it's not a rumor.
    There's what appears to be a halfway decent analysis of Intel's recent teasers for their yet to be publicly announced/acknowledged SHA256 chips here.

  28. #5128
    Master
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    I’m not so sure you can say Intel are backing BTC on the back of this story

    In the California gold rush, the people selling the shovels made more money then most of the prospectors

    I see it as more mainstream adoption / acceptance which is worth more in the long run

    Just my view of course

  29. #5129
    Master
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    Back over 38k, that GMT is getting more expensive by the day

  30. #5130
    Grand Master Raffe's Avatar
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    Quote Originally Posted by demonloop View Post
    Back over 38k, that GMT is never gonna sell
    FTFY
    Someone who lies about the little things will lie about the big things too.

  31. #5131
    I feel my offer is looking more and more reasonable … 😉

  32. #5132
    Grand Master Raffe's Avatar
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    Another charity bet coming to an end today:

    This one, which was eventually changed into this one.
    Someone who lies about the little things will lie about the big things too.

  33. #5133
    Quote Originally Posted by Raffe View Post
    Another charity bet coming to an end today:

    This one, which was eventually changed into this one.
    Do you accept luncheon vounchers ?

  34. #5134
    Grand Master Raffe's Avatar
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    Quote Originally Posted by Daveya. View Post
    Do you accept luncheon vounchers ?
    --> forum charity
    Someone who lies about the little things will lie about the big things too.

  35. #5135
    Quote Originally Posted by Raffe View Post
    --> forum charity
    Was a royal you, I'm coppering up as we speak

  36. #5136
    Master mr noble's Avatar
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    Quote Originally Posted by Daveya. View Post
    Maybe more relevant this address has remarkable success buying high selling low,

    Sold 1500 BTC and 67k and now buying again

    https://bitinfocharts.com/bitcoin/ad...PQUpe554WKDfHQ


    Looks like just copy trading that address would be a great idea!

  37. #5137
    Quote Originally Posted by mr noble View Post
    Looks like just copy trading that address would be a great idea!
    Yeah if you've got 100m

  38. #5138
    Anyway omincon beat me I'll take that to my grave

  39. #5139
    Quote Originally Posted by Raffe View Post
    --> forum charity
    Done!

  40. #5140
    Grand Master Raffe's Avatar
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    When in trouble, double!

    https://twitter.com/saylor/status/1488498422495817728

    Michael, why are the transactions getting smaller and smaller? Why not go in with a whole billion like you did when bitcoin was trading at $58,000?

    What, you got no money left to buy? How unfortunate!


    * prepare for major MSTR pump today and tomorrow as Michael Saylor hosts MicroStrategy World 2022 conference. Sign up for free here.
    Someone who lies about the little things will lie about the big things too.

  41. #5141
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    Quote Originally Posted by Raffe View Post
    * prepare for major MSTR pump today and tomorrow as Michael Saylor hosts MicroStrategy World 2022 conference.
    They are also due to release the Q4 financial results which will doubtless be read with interest in some quarters, as much for the presentation as the contents.

    Request/Instruction/Diktat:
    Quote Originally Posted by Securities and Exchange Commission
    We note your response to prior comment 5 and we object to your adjustment for bitcoin impairment charges in your non-GAAP measures. Please revise to remove this adjustment in future filings. Refer to Rule 100 of Regulation G.

    We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff.
    https://www.sec.gov/Archives/edgar/d.../filename1.pdf


    Reply:
    Quote Originally Posted by MicroStrategy
    The Company will revise its disclosures of non-GAAP measures in future filings to remove the adjustment for impairment losses and gains on sale related to bitcoin, as requested by the Commission.
    https://www.sec.gov/Archives/edgar/d.../filename1.htm

  42. #5142
    Grand Master Raffe's Avatar
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    Oh look, $831 million bitcoin-related impairments. Turns out buying funny assets at inflated prices comes with real consequences. Can't wait until they do all their accounting in bitcoin, or go bankrupt - whatever comes first.

    Hilarious.

    Someone who lies about the little things will lie about the big things too.

  43. #5143
    Grand Master Raffe's Avatar
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    Quote Originally Posted by Sean89 View Post
    No they had an nft sale to mark the start of the new contract.
    All the liquidity has yet to be transferred from the old pool to the new so a bit of buying pressure at 2pm pushed it up and then down as a smaller liquidity pool makes prices more volatile on the dex.

    Expect liquidity to migrated within a week and it will all calm down to the usual btc related crashes.

    All said an done it’s about 10% lower than close on Friday. Which given the market is to be expected.
    I have to admit I completely lost track of Floki - I know it has split but I cannot find it listed on a single exchange. And no price to be found on pancake either?

    What am I doing wrong?
    Someone who lies about the little things will lie about the big things too.

  44. #5144
    Master mr noble's Avatar
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    Can you explain why it’s called an impairment “charge”? It sounds like it’s some sort of fine that they have to pay to the SEC or Fed, but surely not.

    Is it just a charge that has to be shown on paper due to the archaic SEC accounting rules?

    If they were allowed to show the BTC gains and not ONLY the losses, their accounts would look rather healthier.

  45. #5145
    Grand Master Raffe's Avatar
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    Quote Originally Posted by mr noble View Post
    Can you explain why it’s called an impairment “charge”? It sounds like it’s some sort of fine that they have to pay to the SEC or Fed, but surely not.

    Is it just a charge that has to be shown on paper due to the archaic SEC accounting rules?

    If they were allowed to show the BTC gains and not ONLY the losses, their accounts would look rather healthier.
    Sure. Let's change the internationally agreed accounting rules until they fit the special needs of your hero. I suppose we could also change the way that capital increases are accounted for so that they create less dilution? How about generally making sure numbers can only go up?

    I am ignoring the first part of your question, I am sure your Google will be able to solve that for you.
    Someone who lies about the little things will lie about the big things too.

  46. #5146
    Master petethegeek's Avatar
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    Quote Originally Posted by mr noble View Post
    If they were allowed to show the BTC gains and not ONLY the losses, their accounts would look rather healthier.
    This article written a couple of days ago discusses the point you make, or at any rate attempts to show how difficult it can be to incorporate 'digital assets' into current financial reporting practices.

  47. #5147
    Master mr noble's Avatar
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    Quote Originally Posted by petethegeek View Post
    This article written a couple of days ago discusses the point you make, or at any rate attempts to show how difficult it can be to incorporate 'digital assets' into current financial reporting practices.
    Very helpful and interesting article, thanks Pete.

    It certainly seems very odd, unfair even, that public companies with crypto on their balance sheets have to account for (paper) losses, but can never include subsequent gains if the value of their assets goes back up again.

  48. #5148
    Grand Master Raffe's Avatar
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    Quote Originally Posted by mr noble View Post
    Very helpful and interesting article, thanks Pete.

    It certainly seems very odd, unfair even, that public companies with crypto on their balance sheets have to account for (paper) losses, but can never include subsequent gains if the value of their assets goes back up again.
    What a nonsense.

    The rules have been the same since forever, why would an exception be created for MicroStrategy? There have always been assets on balance sheets that have to be marked to lowest, and many technology companies have had problems with this. Another example is accounting for goodwill, which has led to similar SEC actions in the past.

    And let's not forget that Saylor has previous, been charged for accounting fraud back in 2000 when Microstrategy materially overstated their revenues and the stock price fell 99% over the next two years.
    Someone who lies about the little things will lie about the big things too.

  49. #5149
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  50. #5150
    Grand Master Raffe's Avatar
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    Quote Originally Posted by demonloop View Post
    But it's sEcUrE and tRuStLeSs.


    https://twitter.com/solana/status/1314190920024125440
    Someone who lies about the little things will lie about the big things too.

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