Crypto thread

6,000,000,000 $USDT ($6,000,000,000) minted at Tether Treasury for Bitcoin 2020 ATH Research Institute

https://twitter.com/cryptowhalebot/status/1318956720723550209?s=21

Paul Tudor Jones says he likes bitcoin even more now, rally still in the 'first inning'

https://www.cnbc.com/2020/10/22/-paul-tudor-jones-says-he-likes-bitcoin-even-more-now-rally-still-in-the-first-inning.html

Link 

Detox you know link is going to 1000 right? 

I missed LINK 

DOT is my high cap 

After extensive research these are the bags I’m going with. I will not touch them until December 2021. 

1. Ethereum (ETH) $406

2. Polkadot (DOT) $4.26

3. Tomo (TOMO) $0.67

4. Ocean (OCEAN) $0.35 

5. Polkastarter (POLS) $0.27 

Ethereum #1 

I have flip flopped, gone in, gone out, went into btc, back to alts, into tether etc. I feel like the real bull run is about to start. And I know that this is not how you get 10x to 100x returns. It is time to pick your horses and just let them run. For better or for worse. 

Holy Cow

Most bullish commentary for bitcoin that I have read from JP Morgan

"Even modest crowding out of GOLD takes bitcoin  up multiples."

Widespread research piece reaches all clients of the bank.

PayPal announcement "cover" for other traditional players to get involved.

READ JPMORGAN HERE — https://twitter.com/dtapcap/status/1319703750450302980?s=21

Bitcoin halvings cause a supply shock.  The slow accumulation of this supply shortage drives a bull market in the ensuing ~18 months.  

2012 and 2016 halving -> 2013 and 2017 mania.  2020 halving on track for same.

This thread attempts to visualize those mechanics.

https://twitter.com/croesus_btc/status/1319734166557081600?s=21

Bitcoin really starting to decouple lately 

Alibaba Founder Jack Ma: “Digital Currencies” Are the Future — Jack Ma blasted global regulation and said that “digital currency could create value” during a speech yesterday.

https://decrypt.co/46266/alibaba-founder-jack-ma-digital-currencies-are-the-future

Digital currencies lack efficiency, cost benefit and ease of use. I dont see how people will use Paypal to do crypto..might as well go down to the grocery store and get robbed as its the same thing. Paypal will not have market current pricing because they will have to jump through hoops and have min wage workers processing things. The only way this has a chance to take hold is if the efficiencies dramatically improve, people can feel confident they are getting market pricing and costs go to near zero for transactions. I am not interested in conducting digital currency for anything but a speculative investment, no way would I conduct commerce using this medium.

PayPal is the same as Robinhood but I think you can buy stuff with your crypto on PayPal. 

A real splash would have been PayPal offering a legitimate BTC wallet. 

WallStreet, crypto is going to go boom boom through 2021.

But the dip 

This BTC bull flag will probably break to the upside. Should probably leverage long from here ($12,925) to $13900 ish. Thoughts? 

No I mean paypal is not going to be efficient at all...it isnt about what you can do with it, rather you are getting robbed because they will offer crappy spreads to reduce risk and volitility, so why use paypal, it makes no sense to me.

Its like going to 7-11 to do a money transfer vs online.

This dip is due to strength in the USD...overlay the DXY and crypto, the dollar has been in the toilet so crypto higher relative to the USD. Watch the dollar, crypto moves from it going up or down.

DXY chart looks like it’s about to dump to me. 

You?

I dont think so...the dump happened already when the FED cut rates and the pandemic, I would actually think it has higher odds of going up from here.

What will take the dollar lower is risk assets going up, so if the market goes up the dollar goes down, or if the market cracks and the FED steps in. The issue is that the USD isnt the only currency playing games, they all are so the dollar only goes down vs strong currencies like the Yen (because their strategy is known for decades) the GBP and the Swiss.

Id say the dollar stays right here unless the FED is forced to jump in and then it will drop, if inflation starts to pop then the USD will rise.

Wall, have you looked at CashApp? Think you can send the corn from that wallet to exchanges. 

There are only so many places to put your cash 

Stocks — market is high — but probably one of the better options since the fed will step in if there’s too much blood 

Real estate — market is extremely high — tough to cash flow on investment properties at current prices 

Cash — almost like investing in a depreciating asset at this point 

Gold — low risk/low reward 

Bitcoin — medium risk/high reward 

Crypto — the future — high risk/high reward — they’re still way below their 2018 highs. The bull runs have occurred every 4 years — starting after the halving —  The last bull run was 2016-2018 

what else? 

DBS, the largest retail and commercial bank in Singapore, has soft launched their crypto/fiat trading exchange!

This will immediately become the easiest on-ramp for those who bank in Singapore

BTC, BCH, ETH, XRP the listed crypto assets

SGD, HKD, JPY, USD the listed fiat

Close leveraged long $13,450 

Hugh Son — CNBC: 

After yrs of hype, blockchain tech is on cusp of a breakthrough: Making money in actual business applications. @jpmorgan creates new unit for blockchain efforts called Onyx, says JPM Coin is live with a large tech client, plans to banish paper checks.

https://www.cnbc.com/2020/10/27/jpmorgan-creates-new-unit-for-blockchain-projects-as-it-says-the-technology-is-close-to-making-money.html

They’re talking to you WallStreet 

That development, along with several other behind-the-scene moves, convinced JPMorgan to create a new business to house its blockchain and digital currency efforts called Onyx, Georgakopoulos said last week in a phone interview. The unit has more than 100 dedicated staffers, he said.

At JPMorgan, the bank is focused on relieving the so-called pain points in wholesale payments: inefficient areas where the industry could save hundreds of millions of dollars with a better solution, said Georgakopoulos.