BTC - Something to think about...
Bitcoin is inching ever closer to its all time high...
We are currently trading at $11,400 and there is really very little resistance on the charts from now until $20k.
Here is the really interesting thing though...
What if bitcoin was never a bubble at all?
(Source: https://twitter.com/bitcoingent/status/940916828498522114)
Think about this...
If bitcoin were to make its new all time high by the end of this calendar year, that would mean bitcoin made new highs within about 20 months or so from its previous high...
Traditionally, when markets get back to their all time highs so quickly it could be argued that it was never a bubble at all...
But instead more like a bear market within the context of a longer term bull market.
Now that is interesting and something the media is going to have to come to grips with when this happens.
I would not be shocked to see bitcoin make new all time highs before this year is up.
There is so much demand that every little dip is being bought right now.
In the 2016-2017 bull market, there were 9 dips of 30%.
We can't even get one so far in the 2019 bull market...
Though, I wish we would.
Stay informed my friends.
-Doc
The “bear market” was actually caused by Facebook, Google and Twitter illegally banning Crypto industry Ads. Check out @jpbliberty’ Class Action Lawsuit against them. Www.jpbliberty.com.
Posted using Partiko iOS
What made it illegal?
It was illegal cartel conduct - a breach of Australia’s Competition Law. See https://www.jpbliberty.com/crypto-ad-ban-case for more details. There is a strong legal claim.
Posted using Partiko iOS
I don't think there is. They can ban whatever ads they want, they don't have to do business with crypto companies if they don't want to. It's their right as a private enterprise. (Speaking for every one of them)
Actually, you'll find that corporations have no rights at all (check the Bill of Rights).
They are creations of law and subject to law. And the law says they can't make contracts with competitors to restrict supply of services - that's an illegal cartel! But that's exactly what they did.
The law also limits the rights of firms with substantial market power. They can't do things which harm competition - but that's exactly what they did.
But what would I know? I'm only a lawyer with over 25 years of experience as counsel in the technology sector.
I was dealing with these sorts of issues for major telecoms companies when Mark Zuckerberg was in elementary school!
Odds of any court or judge siding with you on these views are negligible at best. By the way how exactly did Facebook make "a contract with competitors to restrict supply of services"?
Beyond all that, even if you could prove they did some of what you say, you can't possibly quantify how much it actually impacted the price. That is impossible to say.
Hi @jrcornel, I have great respect for your opinion on Crypto. But the prospects of legal success of Australian competition law class actions is my area of expertise.
We also have advice from external Counsel confirming the legal theory and the evidence is all obvious stuff (Like Facebook being competitive with Crypto projects like Steem)
I'm happy to answer your particular questions or concerns about the case.
I’m happy to share more technical details of the case privately. I’m on Discord as @apshamilton
You can also check out @jpbliberty on Steem. There are a number of posts dealing with the impact of the ad ban on the market. Hundreds of Shareholder class actions have settled for large sums on far less clear correlation and scale of market impact.
You make a good point. I will look into this a bit further.
I was also sceptical at first because the scale of what Andrew is talking about seems a bit crazy. I initially interviewed Andrew and looked at the Australian law he's talking about and was gradually convinced there was something here.
And that was all before Facebook launched into the world a financial product that anyone else would have been BANNED from advertising on Facebook before May of this year! And it is clear now (even though the case doesn't rest on this at all) Facebook started working on Libra at or around the same time they instituted a ban on all similar competitive products!
America doesn't have strong consumer protection laws against monopolies, cases are insanely difficult to bring and win, but America isn't the world and as Facebook makes clear in its Marxist Libra manifesto, their new crypto currency is a global product to take over the world!
I see. I will look into this a bit more, thanks for your input.
i think the media will never come to grips with bitcoin lol
and i wish we get a dip before the baakt platform open also
i also believe that it will break its high a month after baakt launches but am hoping it corrects since we havent seen a real correction in a while just little dips and im not sure thats a good thing in the long run
have a great day jr
I don't think it is. Like I said, we haven't seen one 30% correction yet. We saw 9 in 2016-2017.
and the scary thing is if it doesnt correct when it hits 12,000 we might not get to see one
i dont really know what to think of that
been loading up on monero since it was 70 bucks and i believe it will do great since BTC has fungibility issues and no privacy and will have security problems as time goes by
also exchanges are stealing peoples coins that are tainted
have you heard anything about that
Nope, I have not. What do you mean by stealing?
well whats happening now since they are tracable
some people bought on bisq and then they put them in there wallet and i forget what exchange they put them on to trade and the exchange basically said their coins were tainted and used for nefarious purposes in the dark web and they are confiscating them and shut down his account and then i guess the other exchanges he was on shut his account down within two weeks and they even throwing a few people in jail
that is insane
its like 80 percent of currencyhas traces of coke on them and the cops seize their money thats what i feel is happening with bitcoin and its only going to get worse
this is one of the main reasons i keep buying monero cant tell where it came from or where its been
if BTC keeps having these issues monero stands to gain big time in the future
a few people i subscribe to say if this keeps up not to be surprised to see monero at 20,000 in five years if this BTC bullshit doesnt get dealt with
i will see if i can dig up the article and send them to you but im sure if you look around you will find some about this
have a great evening jr and be safe and be well bud
Yea I have heard about stuff like that before, I think it is mostly fear mongering though. I think monero and the privacy coins are going to find a tough going to be honest. Most governments will try to ban them. It may not be possible, but they can severely limit their use if they try hard enough. Regulators are coming around to bitcoin mostly because there is a paper trail and they can put restrictions on all the fiat gateways, but they will need global cooperation, which they are kinda sorta getting. Privacy coins make that all the more difficult. I would not be surprised to see centralized exchanges forced to delist all privacy coins in the near future.
that is a possibility with monero but decentralixed exchanges are coming and good luck telling them to delist them
also they didnt do a good job at banning bitcoin so i dont think they will have any luck with monero and i do hope your 100 percent wrong on that one
and about the fear mongering if it happened to me or you it would not be fear mongering anymore
this isnt one instance its been happening quite a bit in the last couple of months
pretty scary but who know they might fix the problem hopefully
people should be using mimble wimble i believe its called to clean their coins before they put them back on the exchange just in case they have been tainted and used on the dark web
have a great night and look forward to reading your articles ive actually missed them since ive been gone for a month
cheers and peace bro
I'm just now writing about this... it's insane with you look at it.
This spike is steeper than 2017 with almost zero resistance.
Yep that is crazy. I wrote something about that a few weeks ago as well, check this out:
And this was before the recent parabolic move...
Basically bitcoin is moving faster than even some of its fastest up moves ever.
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvoting this reply.
Thanks.
The gem here:
Posted using Partiko iOS
Higher highs are coming.
we're almost at 13k my poor brain cannot handle it, and thats a jump in less than a day could we really be heading for a new ATH and how high could this thing go? I'm losing my mind here
It's in a parabolic phase right now, resistance points and dips don't seem to matter.
Hey @jrcornel, you have been selected to take part in a Promotional Giveaway Contest from the @upvoteshares project and win a Free Share. To enter it's as simple as just making a reply to the Contest Post (Link)
Good Luck and keep up the Great Work on Steemit!
Cool, how was I selected by the way?
Well, I follow your posts with my main account (@costanza) and really like what you bring to the platform on a consistent level. So I included you in the list. Most selections were done based on people that are already in similar groups that provide a big part of their daily upvotes (SBI, make-a-whale, curator,..)
Ah I see. Thanks!