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     4 years ago (edited)

    Tether, Mining Equipment, and legacy Bitcoin

    We need to be very wary of finding semi-plausible excuses to feed our fear and then succumb to capitulation panicking by selling the bottom now at maximum fear.

    Fractional reserves on exchanges are probably huge, especially on the shady exchanges outside the USA such as Bitfinex. But that is ostensibly part of the bubble that is helping to drive the price to the moon. It’s analogous to selling US dollars and the US stock markets before 2012 because of the overextended fractional reserve system. Timing is as important as (or let’s say a facet of) fundamental rationale.

    Importantly for example, refer to my comments and chart about Tether in my recent comment and blog Phoenix rises in 2020; all altcoins (including Bitcoin Core) will be 50+% attacked/destroyed.

    $20,000 Bitcoin is now months overdue and thus likely imminent with the Tether market cap having been over 4 million for 4 months:. @filb filb wrote in Current Tether Supply Suggests Bitcoin Price Is Correcting to $20,000:

    […] FilbFilb’s notes that there is an approximately 32-day delay between Tether and Bitcoin’s price action.




    (click to zoom)

    My hypothesis is that the posited SegWit donations attack if it begins at the halving on May 14, 2020 will wipe out all those shady, unregulated exchanges (and their fractional reserves) thus concentrating the solvent capital of the cryptocosm into the legacy Bitcoin. Or to put it another way, those fractional reserves will become worth-much-less, i.e. price suppression achieved for them. Whilst the non-fractional reserves legacy Bitcoin (which can’t be held on any exchange because all exchanges and even mining pools are polluted with tainted SegWit) will be correctly valued beyond the moon towards Pluto.

    Also remember that the tangible mass of Bitcoin can’t be fractional reserves. The mining equipment isn’t going to go “proof it’s gone”. All that capital gets focused into legacy Bitcoin at the halving event if my conjecture is correct.

    The floodgates (e.g. Bakkt, etc) are starting to open recently on institutional money entering the impostor Bitcoin Core. The ostensible plan of TPTB is to onboard a shitload of institutional money before the May 2020 halving to drive the investment in tangible mining equipment to insane levels. Then SegWit attack and force all the miners to mine tainted SegWit donations to maximize profits which I posit will catapult legacy Bitcoin prices to Pluto. This then turns all the miners into criminals for the future fleecing by the FATF.

    It’s a masterful, diabolical plan.

    To keep up with the banksters, you have to think like a banker mafia/oligarchy. Try to think how to maximize the fleecing of the most people.

    The exchanges aren’t in control of the masterplan. The creator of Bitcoin has somethings up their sleeves which I posit I have been revealing in my recent blogging activity.

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