BITCOIN

adindas

Zola. said:

Tesla has already made $1BN from their bitcoin investment and they only bought it a year ago.

Soon the S&P 500 will be littered with companies adding it to their balance sheet, because its just so worthless.

Apple's founder gets it, mostly
https://www.nasdaq.com/articles/bitcoin-is-mathematical-purity-says-apple-co-founder-steve-wozniak-2021-10-29

They have fallen into the “Greater Fool Theory”  ??

The people like Elon Musk, Steve Wozniak and other Billionaires who own Bitcoin and other Major Cryptos and keep buying it; many of the well-known people who understand well about the Blockchain might have fallen into the Greater Fool Theory ??

adindas

The institution/people who own Bitcoin the most.

https://mybtc.ca/article/who-owns-the-most-bitcoin

Those who own the most only control a small proportion, e.g less than 5%, so noone will be able to control the price movement to make a significant gain without taking a high risk themselves.

Those who are pulling the rug from under will fall alone.

adindas

Could the "Great Fool Theory" apply to major cryptos such as Bitcoin (BTC), Ethereum (ETH) ?

Could anyone do P&D to major cryptos such as Bitcoin (BTC), Ethereum (ETH) ?

Look at this satistics the distribution of the ownership of these cryptos and draw your conclusion.

They pull the rug under, they will fall alone ...

They pump the giant balloon;  they will be running out of oxygen before they manage to inflate it.

Zola.

Anecdotally I think what's more common is the bitcoin whales looking at exchange order books. targeting the leveraged, seeing where the stop losses are, and driving down through that, liquidating the sellers and scooping up their coins. 

bugbyte_2

adindas said:

The institution/people who own Bitcoin the most.

https://mybtc.ca/article/who-owns-the-most-bitcoin

Those who own the most only control a small proportion, e.g less than 5%, so noone will be able to control the price movement to make a significant gain without taking a high risk themselves.

Those who are pulling the rug from under will fall alone.

As a counter argument:

Top 1000 investors own 1/3 of bitcoin.

https://www.bloomberg.com/news/articles/2021-10-29/bitcoin-whales-fuel-this-month-s-price-jump-kraken-report-says

I would be extremely surprised if they didn't know and talk to each other, agree strategy, know how much to invest / devest to pump / dump the price and therefore make billions. Why on earth wouldn't they? It is not illegal unlike stocks as it is unregulated. Why else would they be in it? It does not take much to trigger a rise / fall - If you don't believe me (which you won't of course) go look at the trading volumes around major price movements - much, much less than your 'e.g....5%'. They just need to spook you into buying or selling.

adindas

bugbyte_2 said:

adindas said:

The institution/people who own Bitcoin the most.

https://mybtc.ca/article/who-owns-the-most-bitcoin

Those who own the most only control a small proportion, e.g less than 5%, so noone will be able to control the price movement to make a significant gain without taking a high risk themselves.

Those who are pulling the rug from under will fall alone.

Top 1000 investors own 1/3 of bitcoin.

https://www.bloomberg.com/news/articles/2021-10-29/bitcoin-whales-fuel-this-month-s-price-jump-kraken-report-says

I would be extremely surprised if they didn't know and talk to each other, agree strategy, know how much to invest / devest to pump / dump the price and therefore make billions. Why on earth wouldn't they? It is not illegal unlike stocks as it is unregulated. Why else would they be in it? It does not take much to trigger a rise / fall - If you don't believe me (which you won't of course) go look at the trading volumes around major price movements - much, much less than your 'e.g....5%'. They just need to spook you into buying or selling.

Good to hear that counter argument at least the discussion have moved on.

Top 1000 investors own 1/3 of bitcoin collaborate together.

1. How could it be possible 1000 people to collaborate together?? Have ever heard 1000 people collaborate each other in the history of the stock market to move the asset price? Let alone this is Blockchain, not stock/share. But they might do individual action due to physiological effect. Remember millions of people get involved. Many people might just follow the crowd. The same way when the market crashes, crypto crashes do happen.

2. It is Illegal, you get caught it will wipe out the gain you have accumulated, to pay fine. Do you think SEC is stupid will not be able to detect 1000 whales collaborate?

3. 33.33% is still small to control the price. , you will need far more than 50%+ so any price movement you will be the main beneficiary.

bugbyte_2

3. 33.33% is still small to control the price. , you will need far more than 50%+ so any price movement you will be the main beneficiary.

Cant see why you would think that. Are you suggesting you would have to sell more than 50% of the market value before you would get negative price movement? A 50% sell off would see the value plummet to practically zero. You would need a group of investors with over 1/2 a trillion dollars willing and able to prop it up. I would suggest that if a whale moved less than 0.05% of market cap there would be ripples.

adindas

bugbyte_2 said:

3. 33.33% is still small to control the price. , you will need far more than 50%+ so any price movement you will be the main beneficiary.

Cant see why you would think that. Are you suggesting you would have to sell more than 50% of the market value before you would get negative price movement? A 50% sell off would see the value plummet to practically zero. You would need a group of investors with over 1/2 a trillion dollars willing and able to prop it up. I would suggest that if a whale moved less than 0.05% of market cap there would be ripples.

They do not need to sell/buy it at the same time. But if you control 50%+ you have a great control of it to dictate the outcome.

Keep in mind when the price drop siginificanlty, 33.33% (say) many people will be adding their position, limit order will be executed, the newcomers enter the market pushing the price up again.

With such huge amount of money getting involved you will only be risking it when you could dictate the outcome.

You do not know at what price the other 50% will enter the market, willing to pay  !!!

Crypro crashes happen many times just look at what happen thereafter, bounce back again.

Section62

adindas said:

1. How could it be possible 1000 people to collaborate together?? Have ever heard 1000 people collaborate each other in the history of the stock market to move the asset price?

GameStop?

Or should I say "Gamestonk!"?

Not that long ago - so it should still be fresh in people's memories.

adindas said:

2. It is Illegal, you get caught it will wipe out the gain you have accumulated, to pay fine. Do you think SEC is stupid will not be able to detect 1000 whales collaborate?

Got a link?

Bearing in mind only yesterday Scottex was pointing out (correctly) the difficulty for the authorities to work out who owns what in the cryptocurrency world (in relation to collecting/enforcing CGT) - how do you propose the authorities could keep tabs on who is selling and buying what in order to 'detect' what you believe to be illegal?

(I'm not condoning nor supporting illegal activity with that question)

adindas

Section62 said:

adindas said:

1. How could it be possible 1000 people to collaborate together?? Have ever heard 1000 people collaborate each other in the history of the stock market to move the asset price?

GameStop?

Or should I say "Gamestonk!"?

Not that long ago - so it should still be fresh in people's memories.

adindas said:

2. It is Illegal, you get caught it will wipe out the gain you have accumulated, to pay fine. Do you think SEC is stupid will not be able to detect 1000 whales collaborate?

Got a link?

Bearing in mind only yesterday Scottex was pointing out (correctly) the difficulty for the authorities to work out who owns what in the cryptocurrency world (in relation to collecting/enforcing CGT) - how do you propose the authorities could keep tabs on who is selling and buying what in order to 'detect' what you believe to be illegal?

(I'm not condoning nor supporting illegal activity with that question)

GameStop/AMC is hedgies against (WSB/the apes & retail investors) which are retail investors like the one who will buy BTC in small quantity. The Hedgies who control many shares got Squeezed. There are a million of retailers lots of retailer investor getting involved

If the whales do not have a great control they might end up like Game stock/AMC, losing money from short squuze that is what I have said. Let alone if it is BTC with US$1T market cap how much money do they need ?

Mentioning Game stock or "Gamestonk!" shows great degree of dislike like people who still believe that those WSB who get involved in Game stock are naives. The few naives are the one who bought it when it already got squeezed, FOMO buying.

I might stop discussing with those who still believe that the earth are flat, who still believe that BTC are a scam because Warren Buffest / Charlie Munger are saying so. It turns to become the dialogue of the deaf.

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