END OF WEEK, END OF MONTH, END OF QUARTER. . . TIME TO EXPOSE PRIVATE FIAT FOR WHAT IT IS !!!
Eight charged for goat scheme fraud
Eight members of a R2.3-million goat breeding scheme are facing charges of fraud over the misuse of project funds. The…
The two week high is now the 6850 area. . . if we can break through that area the trend, the way I measure bitcoin trends, is up.
Which way do we go? I haven’t a clue. . . . and neither does anyone else. . . however, selling does give you a very low risk trade. . . so if you sold earlier and took your profit . . . this is a decent time to take another stab at it. . . and be prepared regardless of what happens.
So rather than make a prediction . . . which would simply be a guess. . . let us examine the possibilities. . .
The first, and I believe the healthiest thing for bitcoin is we get a selloff . . . preferable hard and fast . . . and in sympathy with the Exthit (pronounced with a lisp and weak wrist). Incidentally, this is the scenario that Tone Vays has wisely prepared for and advises to his followers to do the same . . . . you want to be able to weather this storm both financially and psychologically. . . which he sees as a 70% probability. Further, Tone Vays view will not change if we rally above 6850. . . he simply sees the selloff delayed and starting from a higher level.
The second, is we simply continue sideways indefinitely, wearing out the average investor looking for instant gains.
The third scenario is we rally into a double top somewhere between 8,500 and 23,000 . . . . which I actually believe is the most dangerous scenario for bitcoin . . . especially if the bull market is accompanied with a recovery of the alt/ICO markets. . . for another major pump. . . I would much prefer a crash now than after another phony pump.
I believe the third scenario is the least likely . . . but this is probably more a reflection of what I hope to see happen . . . than any real substance. These fraudsters are not going down quietly or easily . . . and they have funds and are actively lobbying for state and federal blessings to justify their schemes.
It is evident to me that the ideological split between sound money advocates and private fiat money advocates will widen sharply in the months ahead. . . and it is important as bitcoin maximalists that we not only distance ourselves from private fiat money advocates, but we loudly and vocally expose the frauds they purvey on unwary investors. . . as they target new sheep to be shorn!
At the same time we must continue to educate why The Bitcoin Standard is the foundation for sound money and how to make the transition in personal finances. . . our target audience is successful “have not bitcoin” entrepreneurs, not ill-informed investors looking to make a fast buck.
I AM SAYVVING
At a recent hearing CFTC Chairman J. Christopher Giancarlo famously attributed the bitcoin term “hodl” to be an an…
We are not promising to bank the unbanked, prolong life, or deliver organic wine which has yet to be planted!. . . these are just three existing crypto lies used to justify stealing from suckers along with thousands of others!
Rather, our goal is to educate those who produce, those who create wealth, those who employ others, and those who are exposed with confiscatable wealth on how sound money (Bitcoin and Bitcoin alone) can offer a degree of protection from political tyrants.
No doubt we will receive the full wrath of those promoting private fiat scams . . . but this is not a bad thing. . . and is necessary to distinguish sound money advocates (bitcoin maximalists) from this den of thieves.
Regardless of the scenario, the strategy for wealth preservation is to continue to dollar cost average bitcoin regardless of the price action with the goal to have from 5%-15% of your net worth in bitcoin. . . limit your trading to only a small part of you hodl, and limit the amount of bitcoin stored on any platform . . . 95% should be held with you private key.
HOW TO ACHIEVE THE SAME RESULTS OF A PROFESSIONAL BITCOIN TRADER WITHOUT TAKING THE INHERENT RISKS
As a former gold bug and self taught economist I first heard about bitcoin when it traded par with the dollar and then…
Hope this helps.