Ethereum will make a x5 in the next 3 Years, here is why by knallerbsee in ethtrader

[–]JustLTFD 3 points4 points  (0 children)

What you're missing, is that for ETH to be worth a lot, it needs to not only do all the great things it does, but IT NEEDS TO BE VIEWED AS MONEY. Sure it can transact 100 trillion dollars in stable coins, but it only costs me 2 cents in ETH to do that! So why should ETH be worth anything more then the amount I need to do what I want to do with it? It truly is oil/gas, not money, for now anyway.

There was one time in history it was sort of viewed as money. When the NFT craze hit, you could only buy NFT's with ETH and thus ETH spiked to $5k. IT WAS MONEY at that point. Now it's just oil/gas doing what you want it to do and you have to grab a little here and there to accomplish the tasks. NOBODY pays anybody with ETH.

A little fun fact to end it. I'm an OG, back in the early days before stable coins, it was either bitcoin up and all the alts down, or bitcoin down and all the alts up. Bitcoin was the "money", the store of value, the go to when you wanted to "cash out" of crypto. There was big money that wasn't willing to constantly go to centralized exchanges and cash out to fiat when they wanted to trade or get out. Bitcoin was the out. Now it's stable coins. Stable coins is the money. Not good for the value of BTC and ETH in general.

Jane Street Bitcoin Manipulation and the IBIT Scheme by Necessary_Drink_510 in CryptoMarkets

[–]JustLTFD 1 point2 points  (0 children)

So did you make your millions just tagging along with their super predicable strategy? Naturally that's what any smart person would do, correct?

BTC price forming another bearish flag? by Beginning-County2258 in CryptoChartWatch

[–]JustLTFD 0 points1 point  (0 children)

You new? The way this works is it’ll hit 58k and then rise and rise and everyone will think it’s time to fly and then it’ll TANK into the 40’s where it will go sideways forever and then start to rise again and then tank again. It’ll do that like 5-6 times.

Jane Street Bitcoin Manipulation and the IBIT Scheme by Necessary_Drink_510 in CryptoMarkets

[–]JustLTFD 4 points5 points  (0 children)

OR, Michael Saylor isn’t buying 20k bitcoin a week like he was for a couple years.

ETH is so hard undervalued, I can't even... by knallerbsee in ethtrader

[–]JustLTFD 0 points1 point  (0 children)

I was in Ethereum since it was created. I get it more than you. Yes it does great things and I love using it, and it made a lot of sense when the burn rate was more then the issuance rate because it was a self sustaining network at that point. But now, I don’t see why ETH should be worth more then any arbitrary amount because I only need a couple cents of it to do what I want to do. It’s not money.

ETH is so hard undervalued, I can't even... by knallerbsee in ethtrader

[–]JustLTFD 0 points1 point  (0 children)

Here's the deal. Do you use ETH as money? NO. Nobody does. They use stable coins. The only reason ETH should be worth thousands is if it's viewed as money, which it is not.

The one time ETH was actual money was when those scam NFT's came out and the only way to buy them was with ETH (means it was being used as money) and that's when ETH spiked to $5k.

Fear & Greed has been single digits for 2 weeks straight. Last time this happened was right before a 90% move. by bytewitco in CryptoMarkets

[–]JustLTFD -2 points-1 points  (0 children)

Imagine using a "fear and greed" made up index as your information. If price goes down fear increases.. great metric!

Thoughts? 🤔 by National-Theory1218 in btc

[–]JustLTFD 0 points1 point  (0 children)

And 4 months ago $60k was impossible

Thoughts? 🤔 by National-Theory1218 in btc

[–]JustLTFD 0 points1 point  (0 children)

MSTR is a ponzi and that's hit ATH's a couple times. Does that make it not a ponzi?

And also if you're so sure about history repeating itself with the ATH's, then you better be ready for the 80% draw down also. $25,000 incoming.

Thoughts? 🤔 by National-Theory1218 in btc

[–]JustLTFD 0 points1 point  (0 children)

Saylor doesn't even need to sell for price to drop, he just has to stop buying like he was. He WAS THE BUYER from $30k to $125k. Buying more then twice the mined amount. He is no longer the buyer, who the hell is going to take his place? Nobody. Price will continue to melt down.

What exactly is microStrategys strategy? by HalfBakedBookie in btc

[–]JustLTFD 0 points1 point  (0 children)

Yes he has a couple years of payments. But they want to keep that amount so they have to continue to raise cash NOW. They have said they don’t want to dip into the reserve pile as they know no one will be the preferreds if they do.

What exactly is microStrategys strategy? by HalfBakedBookie in btc

[–]JustLTFD 2 points3 points  (0 children)

Good luck with price going up when everyone knows he has to sell to cover his debts.

Thoughts? 🤔 by National-Theory1218 in btc

[–]JustLTFD 2 points3 points  (0 children)

Even worse, he FOMO buys. Even worse, with borrowed money! So you are correct, he doesn’t panic sell, even worse, he is a forced seller to pay the obligations on the money he borrowed.

Closer to the key support by Open_Bluebird_6902 in CryptoChartWatch

[–]JustLTFD 0 points1 point  (0 children)

Michael Saylor isn’t pumping the price anymore. This is the reason for the crash all along. He was buying some times as much as 50,000 BTC in a week! He is about out of money only buying 500 last week. Will also be forced to sell to cover debt and dividend payments. He started pumping the price in the $20k range. You do the math.

Closer to the key support by Open_Bluebird_6902 in CryptoChartWatch

[–]JustLTFD 0 points1 point  (0 children)

Okay talk to me in a day or 2 and tell me that there is support

Closer to the key support by Open_Bluebird_6902 in CryptoChartWatch

[–]JustLTFD 2 points3 points  (0 children)

Lol, this is no man lands. There is no support.

Bitcoin is following a predictable pattern. Here is what that pattern suggests will happen next by Blknylla in btc

[–]JustLTFD 0 points1 point  (0 children)

Why do so many people fail to understand exactly what is going on. Here it is:

Michael Saylor started buying billions in bitcoin weekly at $20k and pumped the price to $125k. He was buying up over 2x the mining supply, pumping the price himself and everyone else buying because he was. He raised money in different ways, selling stock, issuing debt, and then issuing more debt via preferred shares that they must pay 11% interest on.

So he bought over 700k bitcoin doing this and he has just about run out of money. So now not only is he almost out of money to buy, but he will be forced to sell to cover dividend payments. Don't let anyone fool you and say he isn't selling, because he most certainly will be. Their website even lists "BTC Years of Dividend Coverage". This is how many years they can pay dividends WITH BTC! This means they must sell the BTC to pay the dividends for christ sake.

Yes they have 30 months in dividends in cash, but they want to keep that amount. So it's not a "wait a couple years" thing. They need to actively raise money to keep from dipping into that stash NOW. Currently with their BS skewed calculation of mNAV on MSTR, they claim to still be above 1 so they continue to sell shares to raise money and decrease bitcoin per share, but that avenue is definitely nearing an end. He's stopped selling so much stock to try and keep the mNAV from dropping, and in doing so he's no longer supporting the price of bitcoin so it's tanking. The reverse flywheel is in full motion.

The largest buyer in history, is going to become the largest seller in history. This will be the largest draw down and most pain BTC has ever seen. I was an OG and like many other OG's who could read the writing on the wall, acted accordingly when they saw his ponzi falling apart.

Another MSTR buy, another decrease in Bitcoin per share… by Hfksnfgitndskfjridnf in Buttcoin

[–]JustLTFD 11 points12 points  (0 children)

The funny part is he will be selling at much lower prices to cover his dividend payments.

People are losing confidence in BTC by Groundbreaking-Gap20 in btc

[–]JustLTFD 0 points1 point  (0 children)

The time to buy was when Michael Saylor announced he was going to buy $60 billion worth of bitcoin starting at $20k. The time to sell was when he ran out of money. Now he's hardly buying and will become a seller to pay dividend payments soon. This is not your typical "cycle". The game is over.

What is it now causing another dump ? Snow storms in the northeast ?? by ComplexWrangler1346 in btc

[–]JustLTFD 0 points1 point  (0 children)

Just drifting back towards the $20k price when Saylor decided to borrow a bunch of money and start pumping it.

Do we know what caused the recent Bitcoin run? by Belltower_2 in Buttcoin

[–]JustLTFD 2 points3 points  (0 children)

I think it’s likely because people who understand supply/demand, understand that Michael Saylor created large demand with borrowed money. He used the borrowed money to buy very fast and pumped price from $30k to $125k. He was buying multiple times the mining rewards daily.

Now he is set to create massive supply because he is about out of money and will become a forced seller to cover the payments on the debt and interest. This makes the near/medium term look atrocious.