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  1. #4026
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    Quote Originally Posted by Stu Gotz View Post
    The amount of BS that gets bandied about in this thread is impressive.
    Yup. What you quoted from shera made no sense. And I was a "hedgie" who "naked shorted".

  2. #4027
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    Quote Originally Posted by Stu Gotz View Post
    The amount of BS that gets bandied about in this thread is impressive.
    Well BTC is the best performing asset of the last decade....by a lot.

    Sent from my Pixel 4 XL using Tapatalk

  3. #4028
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    Don't even say that. BRRRRRRRRRRRRRR

  4. #4029
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    Quote Originally Posted by LeeLau View Post
    Yup. What you quoted from shera made no sense. And I was a "hedgie" who "naked shorted".
    Please explain to me how you calculate EPS.

    edit - nevermind I don't want to engage with you on this topic. I'm just ignorant retail, can't win. Honestly I would rather learn from you how to hedge for downside when the inevitable btc downturn comes around.
    Last edited by shera; 05-09-2021 at 12:58 AM.
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  5. #4030
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    Quote Originally Posted by Whiteroom_Guardian View Post
    Latest insight from my buddy who is a professional crypto analyst: BTC may see a rarer Bull to Bull cycle here. No crash as we push through the summer up to 100k by end 2021 then possibly see some pull backs down to 30k again next year. He is loading up on ETH recently as new updates have really pointed to some viability again. He has always hodled ETH, but wasn't super excited about it for the past couple years until recently.
    I've been selling ETH since 2k both into fiat and btc. Cost basis $500/.029. It's been a fun ride.

    I like PlanB approach for valuing BTC, stock to flow model. 288k top, seems lofty so we'll see.
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  6. #4031
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    Quote Originally Posted by Stu Gotz View Post
    The amount of BS that gets bandied about in this thread is impressive.
    Sorry it was a rant.
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  7. #4032
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    Here's the bitcoin price model I like best, although the various rainbows are also nice:
    Click image for larger version. 

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    https://twitter.com/100trillionUSD
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  8. #4033
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    Quote Originally Posted by shera View Post
    Please explain to me how you calculate EPS.

    edit - nevermind I don't want to engage with you on this topic. I'm just ignorant retail, can't win. Honestly I would rather learn from you how to hedge for downside when the inevitable btc downturn comes around.
    It was the part about naked shorting ETFs. I own the Purpose Bitcoin ETF. It's just a ETF that buys bitcoin. Its not complicated at all. It doesn't have EPS. It doesn't even have theoretical maximum share count. You don't have to short it ( naked or otherwise). There's inverse ETFs which you can buy to short bitcoin.

    There's also crypto futures, crypto options all of which allow you to be short crypto. Leverage on those is astounding (1000+ to 1). Its ok to be skeptical but try to avoid tin foil hats. Leave that to the puregravity idiots of the world.

  9. #4034
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    Quote Originally Posted by LeeLau View Post
    It was the part about naked shorting ETFs. I own the Purpose Bitcoin ETF. It's just a ETF that buys bitcoin. Its not complicated at all. It doesn't have EPS. It doesn't even have theoretical maximum share count. You don't have to short it ( naked or otherwise). There's inverse ETFs which you can buy to short bitcoin.

    There's also crypto futures, crypto options all of which allow you to be short crypto. Leverage on those is astounding (1000+ to 1). Its ok to be skeptical but try to avoid tin foil hats. Leave that to the puregravity idiots of the world.
    Shilbert shorted teh DOGE.

    https://twitter.com/BarrySilbert/sta...574547972?s=19

    Between that and his huge ETC bags I'd say he had a pretty good week!

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  10. #4035
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    Quote Originally Posted by stalefish3169 View Post
    Shilbert shorted teh DOGE.
    I have a personal policy against shorting cults. Scary af

  11. #4036
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    Quote Originally Posted by LeeLau View Post
    I have a personal policy against shorting cults. Scary af
    Haha, that's a good policy. But Barry is one market making whale whose trade I wouldn't want to be on the other side of.

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  12. #4037
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    Quote Originally Posted by stalefish3169 View Post
    Shilbert shorted teh DOGE.

    https://twitter.com/BarrySilbert/sta...574547972?s=19

    Between that and his huge ETC bags I'd say he had a pretty good week!

    Sent from my Pixel 4 XL using Tapatalk
    Doge is still double what it was on April 29.

    It’s at the price of what it was 5 days ago.

    Seems a bit premature (though very transparent) to be celebrating its downfall.

  13. #4038
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    Quote Originally Posted by bennymac View Post
    Doge is still double what it was on April 29.

    It’s at the price of what it was 5 days ago.

    Seems a bit premature (though very transparent) to be celebrating its downfall.
    I'm not picking a side at all and think a dollar could easily still happen. However, if Barry shorted with 3x leverage around the time he made that tweet, it probably worked out pretty well for him. FWIW, though the FOMO was pulling at my heart strings the last week, I still don't and have never owned DOGE. Just here for the lulz.

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  14. #4039
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    Quote Originally Posted by bennymac View Post
    Seems a bit premature (though very transparent) to be celebrating its downfall.
    Attachment 374115

  15. #4040
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    Wow 4k ETH! Beast mode.



    Sent from my Pixel 4 XL using Tapatalk

  16. #4041
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    Quote Originally Posted by LeeLau View Post
    It was the part about naked shorting ETFs. I own the Purpose Bitcoin ETF. It's just a ETF that buys bitcoin. Its not complicated at all. It doesn't have EPS. It doesn't even have theoretical maximum share count. You don't have to short it ( naked or otherwise). There's inverse ETFs which you can buy to short bitcoin.

    There's also crypto futures, crypto options all of which allow you to be short crypto. Leverage on those is astounding (1000+ to 1). Its ok to be skeptical but try to avoid tin foil hats. Leave that to the puregravity idiots of the world.
    I need to stop being a crybaby and pull up my big girl pants. I spent a long time understanding crypto market, but it's just plain easy compared to trad and I get intimidated. Crypto is more about risk management in a highly volatile environment.

    Here in the USA we don't have all the vehicles you listed available to retail, although there is supposedly something coming called mini futures. Anyway, I am biting the bullet and slowly learning how calls and puts work, maybe I can figure out some strategy to take advantage...and maybe I would be allowed to by the govt.

    Another intimidating factor is with the increasing market cap of crypto (2 trillion usd) there are whales of another magnitude coming into the space with ways and means that are opaque to me. I guess I just need to try my best to keep winning, swimming in a sea of barracudas!

    I am very happy that my eth/btc interplay is working out so well though! I sold btc->eth at .029 in November and now selling back the other way for lovely gains. I feel pretty clever!
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  17. #4042
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    Quote Originally Posted by shera View Post
    I sold btc->eth at .029 in November and now selling back the other way for lovely gains. I feel pretty clever!
    Congrats! That's why I listen to you instead of the haters. Haha.

  18. #4043
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    Quote Originally Posted by MontuckyFried View Post
    Congrats! That's why I listen to you instead of the haters. Haha.
    Let me tell you that I was listening to Ben Cowen. Also I only used a portion of my stack so I wouldn't suffer however it went. Lastly, I had to wait a freaking long time, months, for this to play out. I make swing trades on the outer margins and that takes patience. I'm still waiting for link to outperform btc, no idea when that will happen. When I first bought eth and link in Nov, they both subsequently dumped against btc and that takes a certain type of patience to bear.
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  19. #4044
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    The main haters I see is against bitcoin's energy use and the claims that bitcoin can drive green energy expansion. I agree that burning coal and even gas (but not stranded flare gas) are bad news for the environment. I say remember that an electric car is just as easily run on coal as a mining machine, so fix the freaking grid. I also believe that expanded green energy use by bitcoin machines can help to expand green infrastructure and ultimately lower costs. I believe bitcoin mining can significantly subsidize green energy expansion. I believe we are ready, culturally and economically, in the USA to shut down coal plants altogether, so I say giterdun!
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  20. #4045
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    What makes bitcoin special when it comes to driving green energy? The answer is nothing. It's a nonsensical talking point. Renewable energy will not solve bitcoin’s hunger for coal and gas.

    It's simple economics. Miners compete only on cost. To be cost effective mining machines have to run non-stop. Just as ASICs drove out CPUs, low cost constant energy pushes out higher cost or intermittent energy. That's why around half of all bitcoin mining is located in China's coal rich regions.

  21. #4046
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    Quote Originally Posted by MultiVerse View Post
    What makes bitcoin special when it comes to driving green energy? The answer is nothing. It's a nonsensical talking point and renewable energy will not solve bitcoin’s hunger for coal and gas.

    It's simple economics. Miners compete only on cost. Just as ASICs drove out CPUs and low cost constant energy pushes out high cost constant energy.
    Bitcoin is the most decentralized and secure chain, which is why it's the most valuable. So you're wrong when you say, "nothing." Its POW consensus also requires a lot of energy. There is an enormous amount of money to be made harnessing stranded green energy for mining BTC. Investments will flow where there are potential profits.

    Sent from my Pixel 4 XL using Tapatalk

  22. #4047
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    Once again with the tortured logic. If bitcoin mining uses stranded renewable energy then it's holding back investment for long distance ultra-high voltage transmission lines causing more demand for fossil energy. If bitcoin mining is consuming non-stranded renewables then it's displacing renewable energy and increasing the use of dirty power. Either way bitcoin mining rewards waste and pollution by monetizing it.


    You're right about one thing, "Investments will flow where there are potential profits." Which is why bitcoin miners have begun reopening aging coal and gas plants around the country.

  23. #4048
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    Where some of you raised by parents who taught you from a young age that Bitcoin mining (and it’s ever increasing energy needs) is good for the environment? Because you cling to it with religious fervor. Do you deny the connection between Bitcoin, China, and coal mining? Are you under the impression that China takes air pollution seriously?

    This is when you blurt out one of the following:
    “oh you hate Bitcoin/crypto”
    “I’ve got mine”
    “It’s decentralized”
    “Ok boomer”

  24. #4049
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    Humanity will continue to use increasing amounts of energy. You need to wrap your head around that.

    I want china off btc, believe you me. And out of Africa and to stop with the labor camps and to free tibet and a lot of other stuff. Please make it so.
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  25. #4050
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    Quote Originally Posted by shera View Post
    Humanity will continue to use increasing amounts of energy. You need to wrap your head around that.
    That statement does nothing to wash away bitcoin’s energy use - in China and elsewhere.

    Nor does it explain the “Bitcoin is good for green energy” argument that gets repeated like a mantra.

    Everything we use needs energy. And the number of people on earth continues to grow.

    That doesn’t justify the massive amount of energy Bitcoin mining is consuming. If anything it’s justifies the criticism.

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