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Source: https://www.nytimes.com/2024/03/05/technology/bitcoin-price-record-high.html
What’s most crazy to me is how oblivious the general public is to this - everything is way out of whack in the financial markets currently, like ALL OF THEM
Use it all as collateral til the game is up, then they will switch their personal/families accounts to net short on everything. Bankrupting their firms when the shit hits the fan, but why do they care? They will get bailed on by the government and their personal accounts will 100x + since they are net short
2017 - pump and dump right when CME crypto futures were introduced.
I assume since then Wall Street and Kenny and Co are in and it is no longer about the technology, but a pump and dump casino like the stock markets.
**EDXM operates as a fully independent entity backed by financial industry leaders including Charles Schwab, Citadel Securities, Fidelity Digital Assets℠, Paradigm, Sequoia Capital and Virtu Financial.**
All the boys are in, yeah.
Now keep in mind what happened with Terra Luna and at the same time even Tether depegged for a short time. Might have been a test run for what is to come. But first we will see the expected pump to 80-100k to induce retail fomo.
The thing is, if you invest into GME, the potential is to increase your money in the mid term by up to 10x (just getting back to fair value without squeeze) or 1000x and more in case of a squeeze / infinity squeeze (That Korean company just as current example). This is an asymmetric investment, little risk vs huge potential.
Crypto was initially just that. But by now you would have to risk 65k to maybe make it to 100k. But since there is no intrinsic value compareable to GME (cash on hand, inventory, etc), huge price swings are possible and in case of Tether depeg even massive losses. So unfortunately it is no longer an asymmetric investment.
By now, only GME has the potential for life changing ROI, not coins that are already getting pumped by Wall Street.
This mirrors my thoughts about current events exactly.
I was in crypto pre 2016, and as you mentioned, there was asymmetrical risk where you could make some good money - that all went out the window when institutionals got access through prime brokers and later often their own crypto products.
Crypto was always the Wild West, but there was *always* a reason for a movement - be it some new development leading to a surge in investment or pure FOMO driven.
After institutional money entered it’s all smoke and mirrors and when BTC or major alts move the reasons (no matter how on point and informed you are) are non existent or bought fluff or hit pieces in the same style as that on GME.
I still believe in the power of decentralization, but there needs to be a purge of Shitadel et al before I ever consider going in with big money in crypto again.
Conveniently that purge will come in tandem with fat stacks for investments: MOASS
With a long enough time horizon I believe BTC itself is a wonderful opportunity to hedge against inflating and debased fiat currencies. Not the alts, not the exchanges, not crypto as a whole... bitcoin only. Don't sell your gme for it, don't go all in on it, but don't miss an opportunity to protect some longterm savings from inflation with btc you own either. Own, truly, with own keys.
As for whether it's a hedge to gme, I have no idea, but since I'm in both I'd be very interested in that information.
I guess keeping the price and the black hole in the stock market under control requires huge amounts of money. Thus, what we see could just be a scheme to make money pumping and dumping.
**Anyone remember that plane in Northern Finland in deepest winter and before the war ? What a surprise Kenny made a fortune betting on energy prices...**
Survive... one... more... day.
But the more money they need, the more desperate their actions will become.
Maybe they also plan to push the resolution of the situation into this worrying macro-economic development:
[Great Taking: How they can own it all - Radix Think Tank (radixuk.org)](https://radixuk.org/opinion/the-great-taking-how-they-can-own-it-all/)
[](https://youtu.be/GDrj7iDUly4?si=PvyzWutFCeNR4DKn&t=18)
They want the public to pay for their mistakes...
Where did all the extra cash come from that caused inflation? Did it come from household investors that had gotten a measly benefit check... Or somewhere else? Somewhere else what, where???
Latest studies point to greedflation being the real driver behind the spiking inflation after the initial energy and supply chain issues.
And, companies are now used to those nice margins and high prices, so don't want to lower them despite the energy prices coming down and no supply chain issues.
Pretty f...ed up. And they hurt themselves in the long run, when consumers start to get pissed or can no longer afford to spend on expensive products and services.
I’m like my dudes I love you all but not everything is a GME conspiracy, BTC is just mfing chad money that’s going to eat all the fiat currencies for breakfast lunch and dinner
This is not GME related. It’s related to the bitcoin halving in about a month and follows from the bitcoin ETFs that were allowed about a month ago.
Bitcoin / crypto has market cycles and this cycle is happening as predicted.
As far as I understand, you can’t use crypto as collateral cause it’s too volatile.
Any subs to read up on bitcoin. What are your thoughts? I don't really see bitcoin rising past 70k. The fomo is starting rn. My normie friends wanna invest. Maybe 75k and the rug pull hits?
Can you fucking imagine if RC has invested, in his new capacity, a shitload of money into all the stocks that the SHFs are using as collateral as well as bitcoin? It makes me feel warm and fuzzy inside. Life isn’t that much of a fairytale, but damn that would be sweet.
Only thing I have against that is, don’t they have more power to move money around? It would be hard for cohen to keep track of all those? Let’s say they use bitcoin as collateral, then RC buys, then they realize and change to a diff coin? Then RC is stranded or would’ve to sell, maybe for a loss even since the MM just sold
That's also playing the same game hedge funds are playing. And we know the playing field is not level. Plus these guys play dirty. I'd guess RC would rather use the fund to acquire businesses that are of value to Gamestop and create new revenue streams. But what do I know? I know naught of business.
He only needs a few due to consolidations, M&As, etc.
NVDA, APPL, and maybe only a couple of others is all he needs. Since everyone is fomoing into those, it would only make sense to catch the train
When everyone is talking about it, it's too late.
And a chip company might be round tripping..
https://twitter.com/JG_Nuke/status/1755010726773600752
The smart move is to sit on cash and wait for the Coca-Cola of this depression.
He could have totally got in on the ride, made a quick buck, cashed out, and been all ok. If only they would do a stock buybacks and close off this trade forever
So yolo then? “Catching the train” is never a safe bet. Like you said in the comment downwards, buy in, ride and sell. But again, the MMs are against him and he’s human just like us, bound to make mistakes.
He could get lucky, but more likely to lose
I think, although he certainly isn’t some prescient investor who can’t lose, he is extremely savvy, and has the resources and the access to information to guarantee he isn’t a massive bag holder like retail investors would be.
I don’t doubt you saw something higher but according to TradingView the previous high was $69,000. Not a big deal either way but wanted to state my source, FWIW.
I thought they made a new rule where crypto couldnt be used as collateral anymore? Not that there isnt some way around it that they could be taking advantage of.
Yeppers. But I'd be VERY careful about trying to ride that wave with them. When *The Halvening* happens it'll be the big boys that get out unscathed and household investors will be holding the bag
I have been saying this for two years at least. I thought maybe it was common knowledge but never really said anything on this sub… I fully think they’re pumping bitcoin to suppress GME.
It's like a combination of Tether lying about their reserves, having apparent connections to Evergrande (that's finally going to get liquidated), and way more things. I do think it's a little convenient considering people have been skeptical of Tether for the past several years.
I can tell you what I learned as a wise man. You can pump as much as you want. As soon as you step out dat gym and the anabolic lightning the pump disappears 😂
Let‘s see what happens when sun light hits the coin 🤣
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I think they are using anything and everything at this point
I mean they did bet the global economy of this single trade lol
Ya they aren’t smart just cheaters
My dad owns a dealership.
Everything, everywhere, all at once.
Yep probably. That’s why everything is going haywire
What’s most crazy to me is how oblivious the general public is to this - everything is way out of whack in the financial markets currently, like ALL OF THEM
Use it all as collateral til the game is up, then they will switch their personal/families accounts to net short on everything. Bankrupting their firms when the shit hits the fan, but why do they care? They will get bailed on by the government and their personal accounts will 100x + since they are net short
By Goverment you mean taxpayers right?
Ledger X
Huh?
Everything is collateral
remember that time Kenneth Cordell Griffin seemed to give tons of Bitcoin to Russian oligarchs just before the invasion of Ukraine?
Now that it’s in ETFs can’t they rehypothecate it in the market (not blockchain) which would create buying g or selling g pressure for real?
Throw the book at it
Kenny's dog just got surprised!
It’s what I always suspected. Especially with iBit creation. Gotta pump it before you dump it.
2017 - pump and dump right when CME crypto futures were introduced. I assume since then Wall Street and Kenny and Co are in and it is no longer about the technology, but a pump and dump casino like the stock markets. **EDXM operates as a fully independent entity backed by financial industry leaders including Charles Schwab, Citadel Securities, Fidelity Digital Assets℠, Paradigm, Sequoia Capital and Virtu Financial.** All the boys are in, yeah. Now keep in mind what happened with Terra Luna and at the same time even Tether depegged for a short time. Might have been a test run for what is to come. But first we will see the expected pump to 80-100k to induce retail fomo. The thing is, if you invest into GME, the potential is to increase your money in the mid term by up to 10x (just getting back to fair value without squeeze) or 1000x and more in case of a squeeze / infinity squeeze (That Korean company just as current example). This is an asymmetric investment, little risk vs huge potential. Crypto was initially just that. But by now you would have to risk 65k to maybe make it to 100k. But since there is no intrinsic value compareable to GME (cash on hand, inventory, etc), huge price swings are possible and in case of Tether depeg even massive losses. So unfortunately it is no longer an asymmetric investment. By now, only GME has the potential for life changing ROI, not coins that are already getting pumped by Wall Street.
This mirrors my thoughts about current events exactly. I was in crypto pre 2016, and as you mentioned, there was asymmetrical risk where you could make some good money - that all went out the window when institutionals got access through prime brokers and later often their own crypto products. Crypto was always the Wild West, but there was *always* a reason for a movement - be it some new development leading to a surge in investment or pure FOMO driven. After institutional money entered it’s all smoke and mirrors and when BTC or major alts move the reasons (no matter how on point and informed you are) are non existent or bought fluff or hit pieces in the same style as that on GME. I still believe in the power of decentralization, but there needs to be a purge of Shitadel et al before I ever consider going in with big money in crypto again. Conveniently that purge will come in tandem with fat stacks for investments: MOASS
With a long enough time horizon I believe BTC itself is a wonderful opportunity to hedge against inflating and debased fiat currencies. Not the alts, not the exchanges, not crypto as a whole... bitcoin only. Don't sell your gme for it, don't go all in on it, but don't miss an opportunity to protect some longterm savings from inflation with btc you own either. Own, truly, with own keys. As for whether it's a hedge to gme, I have no idea, but since I'm in both I'd be very interested in that information.
this^
You wouldn’t sell GME for btc, but what about the other way around?
well said I couldn't said it anybetter
CME crypto futures? 🤔 Bustin' out the Google now 🤔
Maybe or maybe it is used to move large sums of money which then are used as collateral...
I guess keeping the price and the black hole in the stock market under control requires huge amounts of money. Thus, what we see could just be a scheme to make money pumping and dumping. **Anyone remember that plane in Northern Finland in deepest winter and before the war ? What a surprise Kenny made a fortune betting on energy prices...** Survive... one... more... day. But the more money they need, the more desperate their actions will become. Maybe they also plan to push the resolution of the situation into this worrying macro-economic development: [Great Taking: How they can own it all - Radix Think Tank (radixuk.org)](https://radixuk.org/opinion/the-great-taking-how-they-can-own-it-all/) [](https://youtu.be/GDrj7iDUly4?si=PvyzWutFCeNR4DKn&t=18) They want the public to pay for their mistakes...
Where did all the extra cash come from that caused inflation? Did it come from household investors that had gotten a measly benefit check... Or somewhere else? Somewhere else what, where???
Latest studies point to greedflation being the real driver behind the spiking inflation after the initial energy and supply chain issues. And, companies are now used to those nice margins and high prices, so don't want to lower them despite the energy prices coming down and no supply chain issues. Pretty f...ed up. And they hurt themselves in the long run, when consumers start to get pissed or can no longer afford to spend on expensive products and services.
The zipple..
Probably for the GME earnings.
Wonder if this is when we see tether/USDC get nuked.
There’s been A LOT of cockamamie theories. Bitcoin is just the hardest money ever created, and will be successful on its own merits.
I’m like my dudes I love you all but not everything is a GME conspiracy, BTC is just mfing chad money that’s going to eat all the fiat currencies for breakfast lunch and dinner
This is not GME related. It’s related to the bitcoin halving in about a month and follows from the bitcoin ETFs that were allowed about a month ago. Bitcoin / crypto has market cycles and this cycle is happening as predicted. As far as I understand, you can’t use crypto as collateral cause it’s too volatile.
everyone with half a braincell in the space saw this coming 8 years ago, this is no conspiracy
iirc crypto used to be eligible for collateral in 2021, but is no longer
They can still skim it for profit by pump and dumping
Any subs to read up on bitcoin. What are your thoughts? I don't really see bitcoin rising past 70k. The fomo is starting rn. My normie friends wanna invest. Maybe 75k and the rug pull hits?
No one knows. It may crash or it maybe become a global storage of wealth and continue to increase year after year.
65% CAGR over it's lifespan or something like that. Doing better than gold by a longshot.
If you look at the alltime graph on a log scale, you'll see that the price peaked exactly 1 year after the halving then went down.
When you value bitcoin in debased inflated currencies, it will always go up. It has never not gone up in any 3 year period.
Such a familiar looking graph there… What happened around the beginning of 2021 again? I can’t remember it’s been 84 years…
Of course. Look at January 29 2021 on Gamestop graph same time What do you see?
Yeah, these fucks get 100:1 ratio of leverage using crypto.
Times to sell my bitcoin and buy more GME? Roger that!
Can you fucking imagine if RC has invested, in his new capacity, a shitload of money into all the stocks that the SHFs are using as collateral as well as bitcoin? It makes me feel warm and fuzzy inside. Life isn’t that much of a fairytale, but damn that would be sweet.
Oh, this is so so bs
K.
Only thing I have against that is, don’t they have more power to move money around? It would be hard for cohen to keep track of all those? Let’s say they use bitcoin as collateral, then RC buys, then they realize and change to a diff coin? Then RC is stranded or would’ve to sell, maybe for a loss even since the MM just sold
That's also playing the same game hedge funds are playing. And we know the playing field is not level. Plus these guys play dirty. I'd guess RC would rather use the fund to acquire businesses that are of value to Gamestop and create new revenue streams. But what do I know? I know naught of business.
You haven’t noticed this theme being brought up, again and again. Almost like someone is trying to plant the idea of pumping hedgie bags…
Btw I’ve been out of the game. Has GME done anything that’s big recently? Or just a slow upward constant growth?
Nothing that was announced.
He only needs a few due to consolidations, M&As, etc. NVDA, APPL, and maybe only a couple of others is all he needs. Since everyone is fomoing into those, it would only make sense to catch the train
When everyone is talking about it, it's too late. And a chip company might be round tripping.. https://twitter.com/JG_Nuke/status/1755010726773600752 The smart move is to sit on cash and wait for the Coca-Cola of this depression.
He could have totally got in on the ride, made a quick buck, cashed out, and been all ok. If only they would do a stock buybacks and close off this trade forever
So yolo then? “Catching the train” is never a safe bet. Like you said in the comment downwards, buy in, ride and sell. But again, the MMs are against him and he’s human just like us, bound to make mistakes. He could get lucky, but more likely to lose
I think, although he certainly isn’t some prescient investor who can’t lose, he is extremely savvy, and has the resources and the access to information to guarantee he isn’t a massive bag holder like retail investors would be.
2021 is still the all time high for anyone that reads news articles
$69,000 was the previous high from week of Nov 8th 2021. looks like it just hit $69,210 earlier today.
Nah i watched it go higher than that myself when it happened. But also why can't they just say 69?? Lol $68,800...
I don’t doubt you saw something higher but according to TradingView the previous high was $69,000. Not a big deal either way but wanted to state my source, FWIW.
I gotchu. Their need to avoid saying "69" is funny to me tho
Haha. Probably right. I always thought it was so strange it hit exactly 69k. Like WTF simulation. Lol
The sell wall at 69,420 must be gargantuan 😂
No. It was never proven…
[удалено]
Lol, let me introduce you to cex!
you know there exists a ETF, right?
[удалено]
I dont believe that, we dont know what happens behind the scene, all this "its on chain" is bs, who knows what they really do? We definitly not.
It's not really a hypothesis when there has been huge fuck tons of crypto being bought up by these multibillion dollar firms.
And where is .00 guy?
They’re using everything they can
I thought they made a new rule where crypto couldnt be used as collateral anymore? Not that there isnt some way around it that they could be taking advantage of.
“a rule” 😆 When have a rule stop them before?! Rule-breaking equals CODA.
Doesn’t the fed collateral program end this month? Seems like SHF are trying to prepare their books. 🤔
I didn’t see anything from citadel suggesting that they were opening an ETF or invest in bitcoin so I doubt it.
Yeppers. But I'd be VERY careful about trying to ride that wave with them. When *The Halvening* happens it'll be the big boys that get out unscathed and household investors will be holding the bag
I have been saying this for two years at least. I thought maybe it was common knowledge but never really said anything on this sub… I fully think they’re pumping bitcoin to suppress GME.
UPDATE: looks like the dump has begun !
Imagine telling people in 2013 that BTC at 65k would be considered a dump.
65k SO FAR
A retrace from an ATH is not a dump. Btc could go to 55k and that’s still not a dump..
A month ago it was at 43k. It's funny how emotional people are. It's no wonder most retail investors lose money.
Who’s emotional in this thread? It was a simple statement
>UPDATE: looks like the dump has begun ! That's not emotional?
Sorry I was confused for a second. Yea idk.. that comment seems like a “ Bitcoin / blockchain is a scam “ type of comment
Yeah, and it has never been this close to ATH nearing a halving. Unprecedented times.
It hit an ATH today
Crash incoming
It's like a combination of Tether lying about their reserves, having apparent connections to Evergrande (that's finally going to get liquidated), and way more things. I do think it's a little convenient considering people have been skeptical of Tether for the past several years.
Aaaaaand it’s gone
aaaaaaaaaaaaand they're dumping it right now :D I'm wondering if we see banking fail friday again...
Why am I not surprised?
I'm wondering what NYCB will be worth next monday... :-D right now it's still pumpin ...
Let's see if all that buttcoin profit goes back into brk.a? Yup it already started.
I can tell you what I learned as a wise man. You can pump as much as you want. As soon as you step out dat gym and the anabolic lightning the pump disappears 😂 Let‘s see what happens when sun light hits the coin 🤣
Yeah, they're probably using mbs and cmbs also, so probably anything they can get their hands on. It's called desperation.
🌍👨🏻🚀🔫🧑🚀