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Watch Out! The Downtrend Channel Was Broken! 8/22/22

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1 minute ago, fxfox said:

Thanks Doc.

I did draw the line from the Aug 2015 low with the 2020 low and came up with circa 21k. Used TradingView data, but with Buttcoin one better doublechecks.

If you use the 2020 spike low, that works. 

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34 minutes ago, DrStool said:

Ultimately it's a worthless POS that's going to zero.  

Depends on how severe the bear will be. If it is long enough and CB‘s get under HUGE public pressure (like in 81 farmers in front of Eccles building) then CB‘s disallow the possession of Buttcoin. Can be done. At any time. The President will simply make a public announcement. Like Nixon in 71. That‘s it.

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1 minute ago, fxfox said:

Depends on how severe the bear will be. If it is long enough and CB‘s get under HUGE public pressure (like in 81 farmers in front of Eccles building) then CB‘s disallow the possession of Buttcoin. Can be done. At any time. The President will simply make a public announcement. Like Nixon in 71. That‘s it.

This is precisely the regulatory risk I invoked when my very wealthy friend asked me whether he should buy bitcoin. 

Alas, timing matters.

Because that was back when it was trading for 3-figures… :lol::lol::lol:

He’s still my friend. 

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Just now, Jimi said:

This is precisely the regulatory risk I invoked when my very wealthy friend asked me whether he should buy bitcoin. 

Alas, timing matters.

Because that was back when it was trading for 3-figures… :lol::lol::lol:

He’s still my friend. 

😂😂😂

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5 minutes ago, fxfox said:

Depends on how severe the bear will be. If it is long enough and CB‘s get under HUGE public pressure (like in 81 farmers in front of Eccles building) then CB‘s disallow the possession of Buttcoin. Can be done. At any time. The President will simply make a public announcement. Like Nixon in 71. That‘s it.

That will not happen. There's no reason for it to happen. Especially with the prices of these worthless POS's collapsing. The CBs will just ignore it. When was the last time western governments outlawed owning an asset? 

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27 minutes ago, DrStool said:

Successful liftoff. Stage one separation approaching. 

tvc_6c48b750228861c05b5cc9256323357e.png

Watching the spread of German and Italian 10 year. ECB tries to control that with that new „instrument“ ( forgot the name, something like EFFME or so), but ultimately they will fail. The final stage will be: Either a German brcomes ECB president and old Buba policy will be reintroduced on ECB level or the Euro will break up. If inflation gets out of hand in Germany (Italy plays no role, they know nothing else but inflation, it is their business model) there will be huge huge pressure from the public on politicians and even riots. Germans can get used to many things, but not to inflation. It is a collective nightmare so to say.

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42 minutes ago, DrStool said:

That will not happen. There's no reason for it to happen. Especially with the prices of these worthless POS's collapsing. The CBs will just ignore it. When was the last time western governments outlawed owning an asset? 

A year earlier, in 1933, Executive Order 6102 had made it a criminal offense for U.S. citizens to own or trade gold anywhere in the world, with exceptions for some jewelry and collector's coins. These prohibitions were relaxed starting in 1964 – gold certificates were again allowed for private investors on April 24, 1964, although the obligation to pay the certificate holder on demand in gold specie would not be honored. By 1975 Americans could again freely own and trade gold.“

https://en.m.wikipedia.org/wiki/Gold_Reserve_Act

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