https://www.reddit.com/r/Bitcoin/comments/loqm7j/would_bitcoin_still_be_valuable_in_the_event_of_a/
Saturday, February 20, 2021
On Air Parking accepting
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DD on SOS Limited -- Long Thesis
First off, I am LONG on SOS Limited.
The reason why I am sharing my DD is because I want everyone to be informed and to be rational.
I am a traditional value investor that recently took interest in meme/momentum stocks and so I am actually very fascinated by what I've been able to learn/discover in this niche through researching SOS Limited.
I won't comment too much on the company from a fundamentals-standpoint, because I can see clearly that this company is massively undervalued.
DD:
Based on my research, what's happening to the stock right now is price manipulation by a few hedge funds.
If you pull up SOS Limited's SEC filings (sec.gov), you can see all of their detailed information on financials, including details of their direct offerings.
You can look up the information yourself, there's quite a lot of filings and documents you have to read through, but this type of DD is a standard routine for the value folks.
What was interesting to me, is that one of SOS Limited's recent registered direct offerings was purchased by Intracoastal Capital, LLC.
The basic question I wanted to answer was -- who are the institutional investors that are buying these shares? What are the terms of the arrangement and are they long-term shareholders?
So I dived deeper and googled Intracoastal Capital and learned that it's a hedge fund owned by Mitchell Kopin and Daniel Asher. And they own about 9.99% of SOS Limited (the 9.99% is important, remember this).
They are quite infamous, in fact, for their SHORT strategies, and there's quite a few Reddit posts in /pennystocks and other subreddits about them shorting other companies down to the ground.
I kept peeling the onion layer little by little, and learned that Intracoastal Capital often attack companies together with other hedge funds such as Anson Funds Management, Sabby, and Hudson Bay Capital.
If you google these other hedge funds, especially Anson and Sabby, there's quite a lot of articles about their corruption and short attacks as well -- a lot of people complaining that they should be reported to SEC.
Well guess what? Intercoastal, Sabby, and Hudson Bay Capital are all the largest shareholders of SOS Limited.
Here is a lawsuit involving Intracoastal and Anson, it's further proof that these short hedgies often work together:
https://casetext.com/case/sharp-v-intracoastal-capital-llc-in-re-blue-earth-inc
Here are the recent filings for SOS Limited:
https://sec.report/Document/0001213900-21-010079/
https://www.streetinsider.com/dr/news.php?id=17922552
My god, they all own a lot of shares. What is going on here? Why are they the largest shareholders of SOS if they are known for shorting companies?
Here is where it gets super interesting:
In summary, these funds basically participate in direct offerings under the disguise of investing in the company or helping the company (pretty sure at this point the CEO of SOS Limited is clueless about their real intentions).
By owning less than 10% of the company, these funds do not have to report their short position.
They basically short the company behind their back in orders of magnitude greater than what they put into their long position.
https://www.sec.gov/smallbusiness/goingpublic/officersanddirectors
They intentionally attempt to sabotage the company through various devious methods.
They also have buffer on their long position due to the warrants, the mechanics of which I won't go into here.
This should help explain all of the bear posts in social media that have been going around lately.
In fact, if you google Moez Kassam and Anson Fund, you'll find that even the man himself talks about trading based on sentiment and controlling them through social media, especially because retail traders are now taking an outsized role in the market due to COVID/everyone staying at home.
Anson Fund returned 44% in 2020, one of his largest returns, and he brags about being one of the earliest funds to manipulate retail investors.
I'm pretty sure at some point, the hedgies are going coordinate and dump their SOS shares all at once to create massive panic in the market and bring the stock price down.
They will time it to near-perfection, since they are large shareholders and have insider information that the public is not privy to (e.g. imminent PR release).
We will be left wondering, why did the stock plummet when a huge PR just got released which should have sent this stock skyrocketing?
More panic, uncertainty, and doubt will ensue, and people will start selling, driving the stock down even further.
These hedgies are doing the exact same thing to XSPA right now with Citadel.
Yes, you read that right. Citadel, who was involved in the GME scandal.
For context, XSPA is a COVID testing copmany, and these shorties have been trying to destroy this company during the middle of the goddamn pandemic.
They are literally killing people. Literally.
https://www.reddit.com/r/WallStreetbetsELITE/comments/l7i3ic/citadel_short_gme_along_with_sabby_and/
SO WHAT'S MY STRATEGY?
I am buying more on Monday, because (1) I believe Bitcoin, and (2) this company is significantly undervalued relative to its competitors.
I trust my DD, and as long as the Bitcoin thesis continues to hold, then the market should recognize that SOS is massively undervalued.
In the short-term, there are 2 likely outcomes.
#1 -- the hedgies win and drive the share price down even further, i.e. next week, but that's fine because as long as Bitcoin holds or continues to goes up, they will have no option but to cover their short position and lock in their gains sooner rather than risk unlimited loss later. That's just basic risk management, I fully expect them to cover soon given the current momentum of Bitcoin.
After that point, the price should skyrocket.
#2 -- Bitcoin continues to go up more quickly than anticipated, and everyone scrambles to buy more shares, and hedgies have no option but to cover. Effectively the same thing as being squeezed.
After that point, the price should skyrocket.
Note that the aftermath of both #1 and #2 is skyrocketing price.
- I'm not going to try to time my entry if the share price were to go down even further (scenario #1), because I don't know what the floor price will be, and I don't know when it will spike 90% in a single day again.
- The risk of missing out on gains like that are far greater than trying to min/max my entry.
- Besides, that's only in the event that scenario #1 were to occur.
- If scenario #2 were to happen, then I'm also screwed, I will have missed out on a majority of the gain.
The greatest tailwind we have here, unlike GME or XSPA, is that time is on our side, more so than ever before.
If you believe in the Bitcoin thesis, then hedgies only have a short window of time to make this coordinated short attack while Bitcoin continues to hold or go up (or god forbid, go parabolic).
IMPORTANT: There is a risk of ruin, in the event that SOS indeed is a scam, but that risk has been greatly lowered because now I know that there are hedgies that have been desperately coordinating together to create FUD.
I believe that this situation, ironically, has created an extremely favorable risk/reward opportunity.
Only 2 things need to align here for me to make an astronomical amount of money.
SOS has to be legit, and Bitcoin has to HOLD (at minimum). And as time goes on, this risk continues to go down every day.
Possible scenario #3 --
Hedgies cover quickly, realizing that they underestimated the power of Bitcoin in their model, or because the price continues to go up due to me posting this to all the subreddits and generating awareness, which causes people to buy more.
TLDR: I believe SOS is a 5x-10x bagger. I'm buying more.
DD on SOS Limited -- Long Thesis
First off, I am LONG on SOS Limited.
The reason why I am sharing my DD is because I want everyone to be informed and to be rational.
I am a traditional value investor that recently took interest in meme/momentum stocks and so I am actually very fascinated by what I've been able to learn/discover in this niche through researching SOS Limited.
I won't comment too much on the company from a fundamentals-standpoint, because I can see clearly that this company is massively undervalued.
DD:
Based on my research, what's happening to the stock right now is price manipulation by a few hedge funds.
If you pull up SOS Limited's SEC filings (sec.gov), you can see all of their detailed information on financials, including details of their direct offerings.
You can look up the information yourself, there's quite a lot of filings and documents you have to read through, but this type of DD is a standard routine for the value folks.
What was interesting to me, is that one of SOS Limited's recent registered direct offerings was purchased by Intracoastal Capital, LLC.
The basic question I wanted to answer was -- who are the institutional investors that are buying these shares? What are the terms of the arrangement and are they long-term shareholders?
So I dived deeper and googled Intracoastal Capital and learned that it's a hedge fund owned by Mitchell Kopin and Daniel Asher. And they own about 9.99% of SOS Limited (the 9.99% is important, remember this).
They are quite infamous, in fact, for their SHORT strategies, and there's quite a few Reddit posts in /pennystocks and other subreddits about them shorting other companies down to the ground.
I kept peeling the onion layer little by little, and learned that Intracoastal Capital often attack companies together with other hedge funds such as Anson Funds Management, Sabby, and Hudson Bay Capital.
If you google these other hedge funds, especially Anson and Sabby, there's quite a lot of articles about their corruption and short attacks as well -- a lot of people complaining that they should be reported to SEC.
Well guess what? Intercoastal, Sabby, and Hudson Bay Capital are all the largest shareholders of SOS Limited.
Here is a lawsuit involving Intracoastal and Anson, it's further proof that these short hedgies often work together:
https://casetext.com/case/sharp-v-intracoastal-capital-llc-in-re-blue-earth-inc
Here are the recent filings for SOS Limited:
https://sec.report/Document/0001213900-21-010079/
https://www.streetinsider.com/dr/news.php?id=17922552
My god, they all own a lot of shares. What is going on here? Why are they the largest shareholders of SOS if they are known for shorting companies?
Here is where it gets super interesting:
In summary, these funds basically participate in direct offerings under the disguise of investing in the company or helping the company (pretty sure at this point the CEO of SOS Limited is clueless about their real intentions).
By owning less than 10% of the company, these funds do not have to report their short position.
They basically short the company behind their back in orders of magnitude greater than what they put into their long position.
https://www.sec.gov/smallbusiness/goingpublic/officersanddirectors
They intentionally attempt to sabotage the company through various devious methods.
They also have buffer on their long position due to the warrants, the mechanics of which I won't go into here.
This should help explain all of the bear posts in social media that have been going around lately.
In fact, if you google Moez Kassam and Anson Fund, you'll find that even the man himself talks about trading based on sentiment and controlling them through social media, especially because retail traders are now taking an outsized role in the market due to COVID/everyone staying at home.
Anson Fund returned 44% in 2020, one of his largest returns, and he brags about being one of the earliest funds to manipulate retail investors.
I'm pretty sure at some point, the hedgies are going coordinate and dump their SOS shares all at once to create massive panic in the market and bring the stock price down.
They will time it to near-perfection, since they are large shareholders and have insider information that the public is not privy to (e.g. imminent PR release).
We will be left wondering, why did the stock plummet when a huge PR just got released which should have sent this stock skyrocketing?
More panic, uncertainty, and doubt will ensue, and people will start selling, driving the stock down even further.
These hedgies are doing the exact same thing to XSPA right now with Citadel.
Yes, you read that right. Citadel, who was involved in the GME scandal.
For context, XSPA is a COVID testing copmany, and these shorties have been trying to destroy this company during the middle of the goddamn pandemic.
They are literally killing people. Literally.
https://www.reddit.com/r/WallStreetbetsELITE/comments/l7i3ic/citadel_short_gme_along_with_sabby_and/
SO WHAT'S MY STRATEGY?
I am buying more on Monday, because (1) I believe Bitcoin, and (2) this company is significantly undervalued relative to its competitors.
I trust my DD, and as long as the Bitcoin thesis continues to hold, then the market should recognize that SOS is massively undervalued.
In the short-term, there are 2 likely outcomes.
#1 -- the hedgies win and drive the share price down even further, i.e. next week, but that's fine because as long as Bitcoin holds or continues to goes up, they will have no option but to cover their short position and lock in their gains sooner rather than risk unlimited loss later. That's just basic risk management, I fully expect them to cover soon given the current momentum of Bitcoin.
After that point, the price should skyrocket.
#2 -- Bitcoin continues to go up more quickly than anticipated, and everyone scrambles to buy more shares, and hedgies have no option but to cover. Effectively the same thing as being squeezed.
After that point, the price should skyrocket.
Note that the aftermath of both #1 and #2 is skyrocketing price.
- I'm not going to try to time my entry if the share price were to go down even further (scenario #1), because I don't know what the floor price will be, and I don't know when it will spike 90% in a single day again.
- The risk of missing out on gains like that are far greater than trying to min/max my entry.
- Besides, that's only in the event that scenario #1 were to occur.
- If scenario #2 were to happen, then I'm also screwed, I will have missed out on a majority of the gain.
The greatest tailwind we have here, unlike GME or XSPA, is that time is on our side, more so than ever before.
If you believe in the Bitcoin thesis, then hedgies only have a short window of time to make this coordinated short attack while Bitcoin continues to hold or go up (or god forbid, go parabolic).
IMPORTANT: There is a risk of ruin, in the event that SOS indeed is a scam, but that risk has been greatly lowered because now I know that there are hedgies that have been desperately coordinating together to create FUD.
I believe that this situation, ironically, has created an extremely favorable risk/reward opportunity.
Only 2 things need to align here for me to make an astronomical amount of money.
SOS has to be legit, and Bitcoin has to HOLD (at minimum). And as time goes on, this risk continues to go down every day.
Possible scenario #3 --
Hedgies cover quickly, realizing that they underestimated the power of Bitcoin in their model, or because the price continues to go up due to me posting this to all the subreddits and generating awareness, which causes people to buy more.
TLDR: I believe SOS is a 5x-10x bagger. I'm buying more.
DD on SOS Limited -- Long Thesis
First off, I am LONG on SOS Limited.
The reason why I am sharing my DD is because I want everyone to be informed and to be rational.
I am a traditional value investor that recently took interest in meme/momentum stocks and so I am actually very fascinated by what I've been able to learn/discover in this niche through researching SOS Limited.
I won't comment too much on the company from a fundamentals-standpoint, because I can see clearly that this company is massively undervalued.
DD:
Based on my research, what's happening to the stock right now is price manipulation by a few hedge funds.
If you pull up SOS Limited's SEC filings (sec.gov), you can see all of their detailed information on financials, including details of their direct offerings.
You can look up the information yourself, there's quite a lot of filings and documents you have to read through, but this type of DD is a standard routine for the value folks.
What was interesting to me, is that one of SOS Limited's recent registered direct offerings was purchased by Intracoastal Capital, LLC.
The basic question I wanted to answer was -- who are the institutional investors that are buying these shares? What are the terms of the arrangement and are they long-term shareholders?
So I dived deeper and googled Intracoastal Capital and learned that it's a hedge fund owned by Mitchell Kopin and Daniel Asher. And they own about 9.99% of SOS Limited (the 9.99% is important, remember this).
They are quite infamous, in fact, for their SHORT strategies, and there's quite a few Reddit posts in /pennystocks and other subreddits about them shorting other companies down to the ground.
I kept peeling the onion layer little by little, and learned that Intracoastal Capital often attack companies together with other hedge funds such as Anson Funds Management, Sabby, and Hudson Bay Capital.
If you google these other hedge funds, especially Anson and Sabby, there's quite a lot of articles about their corruption and short attacks as well -- a lot of people complaining that they should be reported to SEC.
Well guess what? Intercoastal, Sabby, and Hudson Bay Capital are all the largest shareholders of SOS Limited.
Here is a lawsuit involving Intracoastal and Anson, it's further proof that these short hedgies often work together:
https://casetext.com/case/sharp-v-intracoastal-capital-llc-in-re-blue-earth-inc
Here are the recent filings for SOS Limited:
https://sec.report/Document/0001213900-21-010079/
https://www.streetinsider.com/dr/news.php?id=17922552
My god, they all own a lot of shares. What is going on here? Why are they the largest shareholders of SOS if they are known for shorting companies?
Here is where it gets super interesting:
In summary, these funds basically participate in direct offerings under the disguise of investing in the company or helping the company (pretty sure at this point the CEO of SOS Limited is clueless about their real intentions).
By owning less than 10% of the company, these funds do not have to report their short position.
They basically short the company behind their back in orders of magnitude greater than what they put into their long position.
https://www.sec.gov/smallbusiness/goingpublic/officersanddirectors
They intentionally attempt to sabotage the company through various devious methods.
They also have buffer on their long position due to the warrants, the mechanics of which I won't go into here.
This should help explain all of the bear posts in social media that have been going around lately.
In fact, if you google Moez Kassam and Anson Fund, you'll find that even the man himself talks about trading based on sentiment and controlling them through social media, especially because retail traders are now taking an outsized role in the market due to COVID/everyone staying at home.
Anson Fund returned 44% in 2020, one of his largest returns, and he brags about being one of the earliest funds to manipulate retail investors.
I'm pretty sure at some point, the hedgies are going coordinate and dump their SOS shares all at once to create massive panic in the market and bring the stock price down.
They will time it to near-perfection, since they are large shareholders and have insider information that the public is not privy to (e.g. imminent PR release).
We will be left wondering, why did the stock plummet when a huge PR just got released which should have sent this stock skyrocketing?
More panic, uncertainty, and doubt will ensue, and people will start selling, driving the stock down even further.
These hedgies are doing the exact same thing to XSPA right now with Citadel.
Yes, you read that right. Citadel, who was involved in the GME scandal.
For context, XSPA is a COVID testing copmany, and these shorties have been trying to destroy this company during the middle of the goddamn pandemic.
They are literally killing people. Literally.
https://www.reddit.com/r/WallStreetbetsELITE/comments/l7i3ic/citadel_short_gme_along_with_sabby_and/
SO WHAT'S MY STRATEGY?
I am buying more on Monday, because (1) I believe Bitcoin, and (2) this company is significantly undervalued relative to its competitors.
I trust my DD, and as long as the Bitcoin thesis continues to hold, then the market should recognize that SOS is massively undervalued.
In the short-term, there are 2 likely outcomes.
#1 -- the hedgies win and drive the share price down even further, i.e. next week, but that's fine because as long as Bitcoin holds or continues to goes up, they will have no option but to cover their short position and lock in their gains sooner rather than risk unlimited loss later. That's just basic risk management, I fully expect them to cover soon given the current momentum of Bitcoin.
After that point, the price should skyrocket.
#2 -- Bitcoin continues to go up more quickly than anticipated, and everyone scrambles to buy more shares, and hedgies have no option but to cover. Effectively the same thing as being squeezed.
After that point, the price should skyrocket.
Note that the aftermath of both #1 and #2 is skyrocketing price.
- I'm not going to try to time my entry if the share price were to go down even further (scenario #1), because I don't know what the floor price will be, and I don't know when it will spike 90% in a single day again.
- The risk of missing out on gains like that are far greater than trying to min/max my entry.
- Besides, that's only in the event that scenario #1 were to occur.
- If scenario #2 were to happen, then I'm also screwed, I will have missed out on a majority of the gain.
The greatest tailwind we have here, unlike GME or XSPA, is that time is on our side, more so than ever before.
If you believe in the Bitcoin thesis, then hedgies only have a short window of time to make this coordinated short attack while Bitcoin continues to hold or go up (or god forbid, go parabolic).
IMPORTANT: There is a risk of ruin, in the event that SOS indeed is a scam, but that risk has been greatly lowered because now I know that there are hedgies that have been desperately coordinating together to create FUD.
I believe that this situation, ironically, has created an extremely favorable risk/reward opportunity.
Only 2 things need to align here for me to make an astronomical amount of money.
SOS has to be legit, and Bitcoin has to HOLD (at minimum). And as time goes on, this risk continues to go down every day.
Possible scenario #3 --
Hedgies cover quickly, realizing that they underestimated the power of Bitcoin in their model, or because the price continues to go up due to me posting this to all the subreddits and generating awareness, which causes people to buy more.
TLDR: I believe SOS is a 5x-10x bagger. I'm buying more.
DD on SOS Limited -- Long Thesis
First off, I am LONG on SOS Limited.
The reason why I am sharing my DD is because I want everyone to be informed and to be rational.
I am a traditional value investor that recently took interest in meme/momentum stocks and so I am actually very fascinated by what I've been able to learn/discover in this niche through researching SOS Limited.
I won't comment too much on the company from a fundamentals-standpoint, because I can see clearly that this company is massively undervalued.
DD:
Based on my research, what's happening to the stock right now is price manipulation by a few hedge funds.
If you pull up SOS Limited's SEC filings (sec.gov), you can see all of their detailed information on financials, including details of their direct offerings.
You can look up the information yourself, there's quite a lot of filings and documents you have to read through, but this type of DD is a standard routine for the value folks.
What was interesting to me, is that one of SOS Limited's recent registered direct offerings was purchased by Intracoastal Capital, LLC.
The basic question I wanted to answer was -- who are the institutional investors that are buying these shares? What are the terms of the arrangement and are they long-term shareholders?
So I dived deeper and googled Intracoastal Capital and learned that it's a hedge fund owned by Mitchell Kopin and Daniel Asher. And they own about 9.99% of SOS Limited (the 9.99% is important, remember this).
They are quite infamous, in fact, for their SHORT strategies, and there's quite a few Reddit posts in /pennystocks and other subreddits about them shorting other companies down to the ground.
I kept peeling the onion layer little by little, and learned that Intracoastal Capital often attack companies together with other hedge funds such as Anson Funds Management, Sabby, and Hudson Bay Capital.
If you google these other hedge funds, especially Anson and Sabby, there's quite a lot of articles about their corruption and short attacks as well -- a lot of people complaining that they should be reported to SEC.
Well guess what? Intercoastal, Sabby, and Hudson Bay Capital are all the largest shareholders of SOS Limited.
Here is a lawsuit involving Intracoastal and Anson, it's further proof that these short hedgies often work together:
https://casetext.com/case/sharp-v-intracoastal-capital-llc-in-re-blue-earth-inc
Here are the recent filings for SOS Limited:
https://sec.report/Document/0001213900-21-010079/
https://www.streetinsider.com/dr/news.php?id=17922552
My god, they all own a lot of shares. What is going on here? Why are they the largest shareholders of SOS if they are known for shorting companies?
Here is where it gets super interesting:
In summary, these funds basically participate in direct offerings under the disguise of investing in the company or helping the company (pretty sure at this point the CEO of SOS Limited is clueless about their real intentions).
By owning less than 10% of the company, these funds do not have to report their short position.
They basically short the company behind their back in orders of magnitude greater than what they put into their long position.
https://www.sec.gov/smallbusiness/goingpublic/officersanddirectors
They intentionally attempt to sabotage the company through various devious methods.
They also have buffer on their long position due to the warrants, the mechanics of which I won't go into here.
This should help explain all of the bear posts in social media that have been going around lately.
In fact, if you google Moez Kassam and Anson Fund, you'll find that even the man himself talks about trading based on sentiment and controlling them through social media, especially because retail traders are now taking an outsized role in the market due to COVID/everyone staying at home.
Anson Fund returned 44% in 2020, one of his largest returns, and he brags about being one of the earliest funds to manipulate retail investors.
I'm pretty sure at some point, the hedgies are going coordinate and dump their SOS shares all at once to create massive panic in the market and bring the stock price down.
They will time it to near-perfection, since they are large shareholders and have insider information that the public is not privy to (e.g. imminent PR release).
We will be left wondering, why did the stock plummet when a huge PR just got released which should have sent this stock skyrocketing?
More panic, uncertainty, and doubt will ensue, and people will start selling, driving the stock down even further.
These hedgies are doing the exact same thing to XSPA right now with Citadel.
Yes, you read that right. Citadel, who was involved in the GME scandal.
For context, XSPA is a COVID testing copmany, and these shorties have been trying to destroy this company during the middle of the goddamn pandemic.
They are literally killing people. Literally.
https://www.reddit.com/r/WallStreetbetsELITE/comments/l7i3ic/citadel_short_gme_along_with_sabby_and/
SO WHAT'S MY STRATEGY?
I am buying more on Monday, because (1) I believe Bitcoin, and (2) this company is significantly undervalued relative to its competitors.
I trust my DD, and as long as the Bitcoin thesis continues to hold, then the market should recognize that SOS is massively undervalued.
In the short-term, there are 2 likely outcomes.
#1 -- the hedgies win and drive the share price down even further, i.e. next week, but that's fine because as long as Bitcoin holds or continues to goes up, they will have no option but to cover their short position and lock in their gains sooner rather than risk unlimited loss later. That's just basic risk management, I fully expect them to cover soon given the current momentum of Bitcoin.
After that point, the price should skyrocket.
#2 -- Bitcoin continues to go up more quickly than anticipated, and everyone scrambles to buy more shares, and hedgies have no option but to cover. Effectively the same thing as being squeezed.
After that point, the price should skyrocket.
Note that the aftermath of both #1 and #2 is skyrocketing price.
- I'm not going to try to time my entry if the share price were to go down even further (scenario #1), because I don't know what the floor price will be, and I don't know when it will spike 90% in a single day again.
- The risk of missing out on gains like that are far greater than trying to min/max my entry.
- Besides, that's only in the event that scenario #1 were to occur.
- If scenario #2 were to happen, then I'm also screwed, I will have missed out on a majority of the gain.
The greatest tailwind we have here, unlike GME or XSPA, is that time is on our side, more so than ever before.
If you believe in the Bitcoin thesis, then hedgies only have a short window of time to make this coordinated short attack while Bitcoin continues to hold or go up (or god forbid, go parabolic).
IMPORTANT: There is a risk of ruin, in the event that SOS indeed is a scam, but that risk has been greatly lowered because now I know that there are hedgies that have been desperately coordinating together to create FUD.
I believe that this situation, ironically, has created an extremely favorable risk/reward opportunity.
Only 2 things need to align here for me to make an astronomical amount of money.
SOS has to be legit, and Bitcoin has to HOLD (at minimum). And as time goes on, this risk continues to go down every day.
Possible scenario #3 --
Hedgies cover quickly, realizing that they underestimated the power of Bitcoin in their model, or because the price continues to go up due to me posting this to all the subreddits and generating awareness, which causes people to buy more.
TLDR: I believe SOS is a 5x-10x bagger. I'm buying more.
Are there any major events this year that will most likely change the value of bitcoin? (x-post from /r/Bitcoin)
https://www.reddit.com/r/Bitcoin/comments/loj15h/are_there_any_major_events_this_year_that_will/
Any 2011 Users ?
Are there any 2011 Mt Gox users around? I am curious as to how your claims were handled with regards to the hack that took place in 2011? As a result of the 2011 hack the entire user base lost 50% of their BTC. Was this amount included in your claim or treated as a separate event?
From what I have concluded, the theft took place over many years and the wallet recovered in 2014 with an extra 200k BTC contained bitcoins from 2011. Given this information it seems that stolen coins from 2011 should also be included. Can anyone shed some light on this?
Thank you.
Bitcoin does not withstand MAE (Mass Amnesia Event)
We all know a currency must be able to withstand a Mass Amnesia Event. If everyone in the world forgets their PIN then they just go to the bank for a new one. However if there was only BTC and everyone in the world forgets their wallet key then suddenly all the money in the world would be gone..
This is why BTC cannot be the currency of the future.
PorcFest 2021 [XVIII] (Mon-Sun Jun 21-27)
The Porcupine Freedom Festival -- the only libertarian festival to defy the government lockup of 2020 -- will be taking place on the third week of June, Jun 21, 2021 - Jun 27, 2021.
We'll have our typical great lineup of national speakers, but this year we'll be emphasizing building our porcupine community, as we spread the focus of the festival to you, the attendees. Attendees will be organizing lounges, and venues, and speeches, and workshops, and villages, and vending, and food, and services all throughout the campground, on a wide variety of liberty themes.
Details: The festival starts with you getting situated on Monday and meeting new and old friends. Tuesday features get-to-know-you events, as attendees, vendors, speakers, lounges, and venues introduce themselves to one another. By Wednesday we're going strong with talks and discussions and activities. This year on Wed night, our big show will feature the SoHo Forum, breaking out of of NYC to PorcFest, led by the insuppressible Gene Epstein and pitting Bitcoin against Fiat as the future of money. Thursday will cap off with a liberty comedy night with libertarian comedians. Friday night will feature dances and music, as well as parties, and Saturday will be our traditional cappers of a community pig roast, with our big contest one of you will be crowned Soap Box Idol for your three minute rant of an authoritarian insult of your choice, followed by the burning of the Porcupine.
For planning and coordinating join our brainstorming group "PorcFest Plans" on FB.
More Info: https://porcfest.com
FaucetCrypto Experience tips: Free Bitcoin, Bitcoin Cash, Ethereum, Dogecoin & More W/ FaucetCrypto
Hey, just wanted to provide some leveling up tips. There is a list of achievements you can work towards each day/week that will give out a good amount of experience points. PTC ads and shortlinks are the way to go for unlocking achievements.
FaucetCrypto Tips:
- Look out for double coin or double XP events
- Power through the Ptc Ads & Shorttlinks to grab XP to get to level 20
- Everything can be done on mobile, but some tasks work better on the desktop
- Withdraw your daily limit. Pay attention to the server clock, achievements and withdraw limits reset at 4:00.
- Once you hit level 20, come back here and I can recommend my top offers that have been netting me 10,000 coin payouts per task.
- You can withdraw hard to find crypto like Reddcoin (RDD). Currently my favorite on this site since you can stake.
Recent Top Rewarding Offerwalls Tasks:
- Ayetstudios Yuno Surveys
- Ayetstudios AppKarma Rewards & Gift Cards
- Ayetstudios MyAppFree
- Ayetstudios FanDuel Casino - Real Money
With FaucetCrypto, I've been able to get daily withdrawls of my favorite coins straight to my wallets. Unlike typical faucets where you just click a button and go, the FaucetCrypto leveling up system is nice and there are random item drops to help you acquire more coins. There is an open market to buy and sell these items. The chat community is engaging and very helpful. Build your network to stack rewards.
Feel free to ask me any questions!
Current Coins: Bitcoin Cash, Bitcoin Sv, Bitcoin, Bittorrent, Dash, Digibyte, Dogecoin, Ethereum Classic, Ethereum, Komodo, Litecoin, Piratecash, Pivx, Reddcoin, Ravencoin, Syscoin, Tron, Verge, Zcash, Horizen
Here's my referall link throughout the post to help us both out!
PSA you can buy stuff using LN without spending your BTC
I read a lot of comments that basically say, “No one wants to spend their BTC… so asking to pay with it or LN is a stupid suggestion.” Or, “buying with BTC is a taxable event…”
Look up Strike by Zap. You can pay with your fiat using LN. It is a non-taxable transaction and you do not spend any of your BTC. It’s also great for retailers that accept LN payment because they can avoid the 1-3% merchant fees. It took me a few moments for me to originally understand this, so let me repeat: you can use the Lightning Network to buy stuff using your fiat.
Yes, I realize it’s just as easy to buy stuff with your credit card. But, asking a retailer if they accept Bitcoin is not a stupid question. It actually may help them to save money. Or, better yet, they may give you 1-3% off since LN avoids the credit card fee that merchants have to pay. Add to that that merchants won’t have to deal with charge back fees that happen with credit cards. Honestly, LN would be a huge win for retailers. Oh yeah, and the more that retailers accept it, the more your BTC will increase in value. The only people losing out are credit card companies.
So, please, before you crap on people that want to pay for stuff with BTC please realize that Strike exists. Also, there are crazy people out there that live 99% off BTC. I would imagine that these folks would love it if more people accepted BTC/LN.
May BTC shine down upon you.
Anyone have a thesis on what the road map for bitcoin would look like?
This is not about price but adoption. I like to discuss how you think bitcoin will be utilized 5-10 years from now? When the institutions buy in. What changes will that bring to how bitcoin is utilized?
I like to discuss what events you think will happen between now and after "When the world has bought in and uses it as a savings account"
What is the biggest risk to this bull market?
I think a liquidity crisis in the traditional markets is the biggest risk to the bull market right now. If we see an event like what happened in March of 2020 there is going to be a complete wash out in bitcoin as all the institutions derisk and deleverage their portfolios.
Are there any other things you could see stopping this bull market?
Начинаем прямой эфир в 19:00 Мск.
Будет много информации и аналитики.
СТОЛКНОВЕНИЕ С МОНСТРОМ (прямой эфир)
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В создаваемой ситуации фашистского тоталитаризма для всех, оставшихся на этой территории, главное – избавиться от иллюзий и принять оккупацию как данность. После этого можно разрабатывать свою линию поведения: как не попасть под замес, с кем допустимо сотрудничать и общаться, а с кем – нельзя…
Смотрите программу «Субботние итоги» на канале Sotnik-TV.
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"Altcoins will go into a protracted correction." Is it worth buying a cryptocurrency
The market is still far from the end of the current growth cycle, although altcoins are already overbought, analysts believe. They named the best investment option in the field of digital money at the moment.
After breaking the mark of $50 thousand, the value of bitcoin continued to grow and has already updated the historical maximum above $52.8 thousand.
The growth of the exchange rate occurs as large companies show interest in the cryptocurrency. In early February, the purchase of bitcoin for $1.5 billion was announced by the manufacturer of electric cars Tesla. MicroStrategy, the largest holder of cryptocurrencies among public companies, also wanted to replenish the investment portfolio with bitcoins. Initially, it was about investing $600 million, but later the company decided to increase the investment by 50%.
Large investors have just started entering the crypto market.
Interest in cryptocurrencies will grow more among institutional investors than among "real business", suggests the analyst of the UTEX exchange Fedor Anashchenkov. According to him, the decision of Tesla should be considered as a particular example, since for business, storing capital in cryptocurrencies is an "unacceptable risk". The intention to add cryptocurrency to their portfolios was also expressed by the American investment company Bridgewater Associates. Banks have already started to create a suitable infrastructure for cryptocurrency holders. The largest investment fund BlackRock has announced a serious interest in the main digital coin. It is possible that the fund will soon create a separate division that will be engaged in investing directly in cryptocurrencies, the financial analyst of the crypto exchange suggested Currency.com Mikhail Karkhalev.
According to Anisenkov, bitcoin has growth potential with a short-term correction of 5-10%. But altcoins in the near future should enter a protracted correction, as it turned out to be too overbought due to the growth of the main digital coin, according to an analyst at UTEX.
The same position is held by Mikhail Karkhalev, who believes that the market is still far from the peak of the current growth cycle. According to him, the best option for investment is bitcoin, but you need to remember about the risks and be sure to hedge them. To do this, you can use futures, options, and leverage.
"I would not expect a correction now, in my opinion it will not be earlier than after reaching $60 thousand, perhaps $65 thousand. From these levels, it is possible to decrease to $50 thousand and even lower, to $42 thousand, after which the growth will gradually begin to recover, " the analyst added. Currency.com.
Analysts Karkhalev and Anashchenkov agreed that the most important event in the cryptocurrency market in the short term is the direct listing of Coinbase shares on the NASDAQ exchange, bypassing the IPO procedure. Previously, it was Coinbase that helped Tesla and MicroStrategy invest in bitcoin. According to the analyst Currency.com after the placement of shares on the stock exchange, Coinbase will no longer be just reliable, but also public and transparent. This will attract investors, including corporate and institutional ones. UTEX analyst recommended to closely monitor developments around Coinbase shares, as this will be an important signal for the financial world.
The analytical company Arcane Research has already estimated the capitalization of Coinbase at $92.2 billion, based on the value of crypto exchange stock futures. Earlier, Viktor Pershikov, a leading analyst at 8848 Invest, did not rule out that bitcoin will soon go on a correction due to the ratio of the volumes of buyers and sellers on the futures crypto platforms.
A brief TokenSets review. Sets from users and rebalancing liquidity
Dear Subscribers!
Welcome to Q DeFi Rating and NOAH`s ARK reviews!
Bookmark our site to learn all about new DeFi stars, promising coins and global crypto events. Check out our YouTube channel to watch the latest reviews and interviews.
Contact our team of developers who will help you create a project that resembles Uniswap, 1inch or any other popular platform.
TokenSets is a platform for buying index tokens which include sets of tokens and helps to reduce the risks of investing in cryptocurrencies. The platform presents Sets from users.
Social Set is a digital asset (ERC-20), which is a fully collateralized portfolio of other assets, including Bitcoin (WBTC), Ethereum (WETH) and fiat currencies (DAI). The sets are automatically rebalanced to make it easier to execute a portfolio strategy (for example, range trading) as a single asset. Using Sets eliminates the need to manually manage multiple assets and rebalance your portfolio.
Overview
Rebalancing is the process of re-weighting a portfolio of assets. The Sets periodically adjust their limits when the token price components change sufficiently and enough time has passed in the rebalancing chain mechanism. As the owner of a Set, you don't have to do anything - just keep the Set with you to get the benefits of automatic rebalancing according to the strategy you have chosen.
Rebalancing liquidity
Set rebalances do not use Kyber as a source of liquidity but instead use open market participants to provide liquidity. This is done so that users do not experience unnecessary and unpredictable sliding.
The Set is 100% provided with the basic components that determine its 'Net Asset Value'. NAV can be calculated by adding the value of all the basic components of the tokens in the Set. The prices displayed in Token Sets are sourced from CryptoCompare to showcase the true market value of the Set across multiple exchanges. The ‘on-chain’ prices used in their smart contracts are sourced from MakerDAO's oracles, while the buy and sell prices are sourced from DEXes, providing liquidity to the Set Protocol.
Dear Reader,
I thank you for reading this article!
The article is written by Anton Vasiliev and Mr. Anton Dziatkovskiy, the co-founder and CEO of Platinum Software Development Company.
Follow us on QDEFIRATING.com and become part of the most incorruptible and unbiased DeFi society. Go to our YouTube channel to watch useful tutorials and cool interviews.
If you want to create any DeFi dApp on any blockchain technology, including Polkadot, Ethereum, Ton and Binance Smart Chain, Platinum Software Development Company is ready to build it for you any time!
Click here to get a free consultation with our developers now.
Cloudbit Cash (CDBC) Airdrop
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Crypto-mining is a dangerous practice, restrictions on Crypto-mining will be a net positive.
Now that it's been 24-ish hours since Nvidia announced their new approach to crypto-currency mining, I've seen arguments from miners concerned customers rapidly evolve from "this will not actually do anything" to a very obvious form of the slippery slope fallacy.
So let's discuss the realities of crypto-mining, what it achieves, and what it's real world effects are.
Power Consumption and Climate Change
Climate Change is real, the space and time for debate is over.
California, Oregon, and Australia were ravaged by massive wildfires last year, nearly 500 people have been killed by these combined wildfires. And Australia now has a new batch of wildfires that have only just begun.
Texas is still in the middle of a winter storm that delivered it's lowest recorded temperatures in 60 years, causing widespread blackouts, and resulting in 47 deaths and counting.
These extreme weather events are the result of climate change, and one of the biggest contributors to climate change is fossil fuel burning for energy production.
All of this means that increases in energy consumption will largely be met by increased burning of fossil fuels.
How does cryptocurrency factor into this?
For the basic reason that crypto-currency mining consumes a lot of power.
The Ethereum network alone consumes 7.75 Terawatt-Hours per year, enough power to supply over 700,000 US households with power for that same period of time. With each transaction requiring 34KWh of energy, enough power to run an average single US home for an entire day.
And Ethereum is not the biggest energy hog in the crypto currency space.
The Bitcoin network consumes over 121 Terawatt-Hours per year, more than 15 times the power consumption outlined in the Ethereum network as stated above. So take all of those values and multiply them by 15.
This is such an enormous amount of power that it is affecting the national power grid of countries like Iran. And cause additional pollution to be generated as fossil fuel based power plants struggle to keep up.
The Economic Question
How valuable is Crypto-currency in reality? I'm not asking how much crypto currencies trade for, I'm asking how much value does it add to society?
From what I've seen, crypto-currencies continued relevance has been driven by two primary groups;
-
those wishing to manipulate an unregulated market with pump and dump, pyramid, and other such get rich schemes.
-
those wishing to use an untraceable currency to perform illegal transactions, namely in drugs or weapons trades.
As a society, neither of these groups have a positive impact.
Taxation
One thing that I hear frequently as a "positive" of crypto currency is that it's not taxable.
Which is completely incorrect, The IRS does tax the sale, exchange, or gains of or from Crypto-currencies, and the US is not the only government to tax Crypto-currency. In fact it is now a shorter list to list the countries that don't tax Crypto-Currencies.
So congratulations; if you still think that Crypto-currencies are not taxed, you're committing tax fraud.
Viability as a common currency
This goes back to the previous subject on Power Consumption, but at it's core, no current Crypto Currency is widely viable as a mass-use currency, due to the high power consumption of individual transactions, and the delay that certain networks have in processing transactions.
The Visa Network is one of the most used payments and transaction system in the world, with a peak capacity of 65 thousand transactions per second
Bitcoins transactions per second is rated at 7. not 7 thousand, not 7 hundred, just 7.
Ethereums transactions per second is at just 15 transactions per second, still not impressive. And while it's creator recognizes that this is a problem, his proposal to improve it is continually delayed, just like his Proof-of-Stake proposal.
But Ethereum/SpecificCoinILike is going to go Proof-of-Stake
Ethereum was widely introduced in 2015, since 2015 all I've heard is that Ethereum is going to move to Proof-of-Stake "soon". At a certain point, it's all hot air. Not to mention that there are still debates in the crypto space about the inherent value of Proof-of-Stake coins versus Proof-of-Work coins. With many pointing to the principle that in a Proof-of-Stake model, the more coins you hold, the higher probability you have to win new blocks. Thereby concentrating the ownership of coins with those who already hold a larger number of coins.
Why are you posting this on /r/Hardware?
The current crypto-rush, like the crypto-rush that preceded it, is having an enormous impact on the supply and availability of GPUs. The previous crypto-rush had the (in hindsight) fortunate timing to arrive many months after new GPUs were announced and shipped out to consumers. Meaning that while some were unable to buy the latest and greatest GPUs, many of the latest and greatest GPUs were in the hands of their intended customers.
This time around, the Crypto-rush started building before these new GPUs were even announced, and combined with a global pandemic, there fomented a perfect storm that almost completely wiped out any possibility of a gamer getting their hands on a GPU, without resorting to bots.
This has led to a lot debates over who has the better claim to such hardware, and my vote is for the gamers. For reasons that I've outlined here, Crypto currencies are a net negative for society;
-
Driving more pollution via fossil fuel burning, which in turn drives more extreme weather events.
-
Being an unregulated market where fraud and ponzi-esque schemes run rampant.
-
Funding terrorism, and illegal drugs and weapons trades.
it's hard to see where the benefits are.
And while gaming can't claim to make the world better, it doesn't actively make the world worse.
But what about Nvidia?
What about them?
They are not outright eliminating the capability to mine.
They aren't changing any hardware currently in peoples hands.
The news about the 3060s reduced mining capability has been widely discussed, so it's hard to see where someone would be uninformed on the subject of the 3060 and mining.
They have very clearly said that they do not intend to limit other CUDA applications, and other compute based uses of their GeForce GPUs, if they do they open themselves up to the biggest class action lawsuit in their history.
Nvidias CUDA advantage only exists because every GPU in their lineup can do CUDA work, they aren't going to throw away 14 years of work, and one of the most widely used parrallel computing platforms, just because of this mining craze.
You can't look at a situation like this one, where Nvidia has been dragged through the mud by people claiming they only do business with miners, where their global supply chain can't keep up with the demand of both insatiable miners and gamers, where every news story about Nvidia includes a blurb about how unsatisfied customers are with supply, and expect them not to do something about it.
For the first time, a major GPU vendor has taken direct action against miners using their GPUs, and frankly I think the GPU market will only be better for it.
If miners don't like this change, then they shouldn't have taxed the global supply chain to the point that this was the most logical decision for Nvidia to make.
Just Some Thoughts on The State of Tarkov and The Player Base
TL/DR: This game isn't hard and we as a player base is making it hard.
DISCLAIMER I don't have a bitcoin farm up at all and I am a lvl 37 with a 60mil Ruble stash of which 10mil is liquid and a 48% Survival Rate and play 2-3 hours 4-5 days a week mostly playing solo and This is going to be a wall of text.
First off I would like to thank BSG for all the hard work they have been putting in and please keep it up you are making an awesome game many enjoy and love . This game has been getting better and better over time unlike other games that just crowd fund for ships for example. Are there issues that need to be fixed and improvements that need to be made yes and I know you all are working on them. People need to chill and not expect things to change in an instant.
Now with that out of the way this is what I am going to talk about/rant on: The State of Tarkov and US as a player base.
First off on the FUEL CRISIS. Personally I don't have an issue with it. It is forcing me to loot drawers and raid maps I normally wouldn't go to. As you can tell I am a big fan of Reserve by my name. Now I am going to interchange, customs, and shoreline more. I can find fuel or find barter items to trade for fuel in those locations. With that being said we as a player base just need to calm and stop demanding a patch note for every item drop chance change, barter change, and change to the hide outs. I think this type of dynamic event that is being tested and unpredictability of the changes can add so much more to the game. We as humans tend to like predictability but unpredictability in this nature makes the game have more depth.
Now on to the bigger Issue that I see many in the player base complaining about. The price of Bitcoins and the "effect on game play". I do agree with BSGs change to the bitcoin farm rates and I think that can be tweaked a little bit more on the longer side but over all if someone farms up 50 G-cards and is printing passive money. I commend them. That takes a lot of time and work to get at. Yes they can afford Slicks and META guns but you can too if you put in the work. With bitcoin aside it is ridiculously easy to farm rubles in this game in its current state and the previous wipes. You just need to be SMART about it. PICK AND CHOOSE YOUR FIGHTS. I can't tell you how many times I have chosen a bad time to start a fight or have been on the other side. Don't try to play this game like COD or LVNDMARK and expect to be a god and walk out with loot because you are going to have a bad time. Look up maps take time to learn how long it takes to run from point a to point b on a map. EDUCATE YOURSELF, google is a wonderful tool use it.
As a symptom of the price of bitcoins Far Far too many people are complaining about people now playing "thin" and running as hachet runners. I view them as easy targets. I see a hatchet/Thin boi I'm blasting them bc its a low rise free dogtag towards my next barter. This brings me to being smart about getting money in the game. This game is all about smarts and a little High Risk for High Reward. You don't need to rush marked, drop, techlite, or 301 west wing to make money. You can go to the areas players go to 2nd or third and snag up the loot there. A lot of better players put out guides on how to make money and while some cover the High value areas other cover routes that are not hot zones (AKA Pestily) Everything in life and in this game is TRADE OFFS. This patch/wipe feels exactly the same as last as far as the gearing of players goes. Yes some matches I just See all THICC bois with cannons and other I tend to find more pistolings but overall it feels the same as other wipes. Also if you blast a hachet runner that has a Graphics Card/ fuel tank/ Ledx Guess what he cant sell it on the Flea and make that good money if he has it up his/her bunghole.
Hacking
This is something we as a player base has a direct control over and need to take ownership of. WE ARE THE CAUSE OF IT not BSG AND MOST OF US IN THE PLAYERBASE IS IGNORANT ON IT WHEN WE COMPLAIN ABOUT IT. So here is a little education on the current state of hacking with out breaking the rules. Most People that make the hacks are now having to resort to making programs that require the hacker to use 2 computers on the same network or a virtual machine. This is VERY VERY hard to detect. Now the people making them are going to vast extremes to provide hacks to a willing and paying player base. The sad thing is ALOT of people are paying money for these. Some hacks out in the wild ARE THE REASON WHY WE HAVE SUCH BAD DESYNC. We need to just keep up and report the people we suspect that are hacking as it is working two major programs were detected last week and a banwave happened. ALSO PLAYING FOR RUBLES is another huge cause of the issue. DONT PAY FOR RUBLES. Money is easy to make in this game. Make it while playing it.
Complaining about other players play(ing) style needs to stop.
Who cares if they are THICC, Hatchet running, sit in a bush, crouched in a sniper tower, camping an exit and killed you. Dying sucks we know get over it. Linear game play is boring games like this that have natural choke points should bring red flags to any seasoned FPS player. As I said before PLAY SMART. If you die it isn't the end of the world. Take a second to stop and think what could i have done differently.
FOR THE NEWER PLAYERS there is a lot of Resources out there for you. There are plenty of discords that have players that will sherpa you about bc they enjoy doing that. Look up guides on youtube and on google. Play with friends and make new friends.
EVERYONE DONT FORGET to just have fun and we are live testing the game.
Also I'm sorry my English is crap.
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