Topic: [Bearish] The Dangerous Reason Why Bitcoin Just Hit Yet Another New High (Read 1431 times)

+1. You’ve really upped the quality of your posts lately.

Goldman Sachs (according to Brock Pierce) is apparently involved with the $2 billion EOS token sale.

1. Claiming they are not subject to US securities laws because they claim they did not sell to US persons, yet it is documented that US persons did purchase the token sale. They refused to do KYC to prevent US persons from participating. Ditto for Chinese, Koreans, UK, Canadians, and other countries which have strict securities laws and are cracking down. So they incorporate in the Caymans and presumably expect to hide behind layers of lawyers. Let’s see how that works out for them and those accomplices affiliates like @chryspano.

2. Running the ICO for a year so they can pump hype about being ahead of schedule, cause the price to jump way up so they can sell, then let the price crash back down so they buy their own ICO. Recycling their money over and over again to extract maximum rents from the ecosystem while ending up with most of the ICO tokens for themselves via numerous sockpuppets same as they did for Steem. Running their tokens through Bitfinex in Hong Kong with that Tether et al scam that Brock Pierce is involved with so presumably they can obscure the disposals of the funds to fiat so as to obscure how their extensive organized crime syndicate is buying their own ICO. Look into the conglomerate structure of the parent companies of Bitfinex and climb down that rabbit hole. Even Dan announced in a blog that they would do this admitting in writing that he is scamming.

3. Documented upthread that the ICO is designed to be algorithmically gamed (details linked upthread) so that this is unfair. Dan was warned about this before launch and chose to ignore it.

4. Terms of the token sale claim that the tokens are not be part of any future software distribution, and that there is no common enterprise because the funds raised are not being used to create such a software distribution, yet in videos  and promotions they claim exactly the opposite that they are using the funds to develop what will be the software distribution. Clearly all the speculators here expect the tokens to be the tokens of the software distribution.

5. Lying about their technology. Ridiculing other experts (including PhDs of computer science from Tendermint, Vitalik, and myself) who write correctly about their technology.

6. Failing to admit that DPoS only functions properly if the stake (tokens) are controlled by an oligarchy of whales.

7. Lying about the past performance of the technology, even having their shills here declare me a liar when I point about that the Steem system has been DDoS attacked numerous times because the zero transaction fee nonsense does not fund the perimeter nodes of the system.

Vitalik was interviewed:


Vitalik is wrong. There are numerous methods for monetizing open source:

http://www.catb.org/esr/writings/magic-cauldron/magic-cauldron.html

All of them require actually producing something that people use first before monetizing.

Apparently Dan has decided to go the direction of the Wall Street criminal syndicate and cashing out before producing things that are valuable. Steem has no viable business model. Dan is only creating scams that require more greater fools to sustain them. Nobody is willing to pay anything for a Steem blog. There is no actual commerce going on over at Steem.

What is going on now is selling ICO bags to grandmothers. Once we have all the ICO tokens in the hands of n00bs, then the crypto winter comes and that is when the regulators come in because so many grandmothers will have lost their life savings. Because as Vitalik has accurately predicted, 90+% of all ICO tokens will go to zero.

This is what Goldman Sachs does. They did it to Greece for example. Dan is an accomplice and maybe they will leave him hanging out to dry as one of the fall guys. We’ll see…

Of course they come into the market to make money, and what is wrong about that ? That is just what about any trader makes. If you are not trading bitcoins yourself on this platform, you risk absolutely nothing. And this being said, I am not sure there is any actual risk, of any nature with those newcomers.

Everyone complains about how they manipulate all of the other financial markets of the world.  Cryptos will be their next target.

Call me a contrarian or a bear but I still agree with Joe Saluzzi's fear in the CME group's listing of a bitcoin derivative. I reckon that it will be the Wall Street bankers who will be bringing a real crisis in the cryptospace. They will come in and suck more money from the community, faster than the ICO scammers.

Those bankers will be here to take our money, not to help bitcoin or other cyptocoins.





Saluzzi told CNBC that he liked the concept of Bitcoin, but has a problem with the idea “that on Wall Street the innovators are trying to package something up and put a derivative label on it when they really don’t know what’s underneath.”

“It reminds me of the financial crisis all over again,” he said.

Read the article http://fortune.com/2017/11/01/bitcoin-6600-high-cme-futures/

Dude this is just a small rise you can say . I don't think that bankers can manipulate much of this . But basically I feel that if wall Street and involve in Bitcoin then you will see all new level of Bitcoin.

I love how people are getting worried about how Wall Street could tarnish Bitcoin's reputation. And rightfully so, unfortunately. Oh how times have changed.

So is the wall street already in or will they enter later? Is that Pump coming from them?

"Those bankers will be here to take our money, not to help bitcoin or other cyptocoins." I definitely agree on this statement, they do have a lot of power and influence to manipulate the Price of Bitcoin unlike the ICOs and other Articles that encourages FUD. If these New High Prices will DROP and DIP after Big businesses open gates for Bitcoin then we got a real problem. These Big Businesses will take advantages on their power and influence to generate profit from Bitcoin from small investors worldwide(DIP if it will happen).

@buwaytress. I fear that the people behind the CME group and Wall Street will take bitcoin in a bigger and a more unsustainable bubble, and then make it crash to the lowest of lows.

I also reckon that they are better in manipulating markets all around the world than any bitcoin whale can. At least with some bitcoin whales, they understand and care about the development of the cryptospace itself, Wall Street does not.

@Biodom. The problem would be what they wrap bitcoin with in the CDO. If they take random cryptocoin scams, placed together in a tranche with some bitcoin, then rate it as a class A investment, then there shall be problems.

It is was what happened in the housing bubble. They wrapped good mortgages with the bad ones and bribed the rating agencies to rate them as class A investments.