MrRenev
Short

[TOO LATE?] It's worse than wash trading. Ponzi collapse!

This is terrible, it is so bad... No one can say they did not have a fair amount of warning. People have been presenting solid evidence for years now.
All these people waiting in starting blocks, afraid to miss out. The problem is not not being fast enough and missing out while you were not looking, it is opening your eyes and not being delusional. Every time, bull or bear, people have YEARS to get it in their heads.
Let's look at what is going on with Tether & Bitfinex, as well as what has happened in the past with shady exchanges...

But first, I was told I was too harsh and "kicked people when they are down" (who? criminals? Ye sure but I'll let judges do the kicking rather) which is a "rotten thing to do" (heard this plenty of times) so here are a few things to cheer people up (I might not be 100% honest in these quotes):
- Everything will be allright, now now.
- The weak hands but the noise hodl.
- I am very bullish on Bitcoin long term.
- Short the banks long Bitcoin .
- That's what they said last time.

Quadriga CX Timeline


MtGox Timeline


Trans-Fee exchanges Timeline


Bitfinex Timeline



Little bonus :)
I forgot what is was sorry :(

When MtGox happened it was still early in the bear market.



By the way fun facts, Bitfinex holds hundreds of thousands of Bitcoin . Fun fact, trans-fee exchanges hold hundreds of thousands of Bitcoin . Fun fact underwater miners too. Fun fact the total is in the millions :)

I wonder what could go wrong :}


Willy Bot: During his trial, Karpeles admitted the existence of a “Willy Bot”, which was a trading bot that he said was built to stabilize the market. As it turned out, the Willy Bot may have been responsible for artificially increasing the bitcoin price, as it’s trading limits were beyond the scope of normal transaction volume in Bitcoin at the time.

Who knows what we will find out about not-available-to-US-citizens Bitfinex in the next few years?
When MtGox news hit Bitcoin price went up, BUT that was after it went down 50% on rumors. Oh ye and of course it dropped another 75% afterwards, from 700$ to 160.
Say Bitcoin makes it to 6300$. A 50% drop then would bring BTC price to $3150, right on that year low. Then it retraces like in 2014, up to $5500. Then down 75% so down to $1400.

Of course, we are not in 2014, but this is all crypto "believers" understand so I want to understand what they are thinking. $1400 seems reasonable.
Now, 2018 has been worse than 2014, so we could assume the drop would be worse. MtGox only lost 800k Bitcoin and they did not all get sold.

Now there are so much more scammy people involved. Quadriga co-founder was a criminal hello? He sold in 2018 during "the bottom". He stole that Bitcoin and does NOT CARE if it goes up or down. DECENTRALIZED TRANS-FEE EXCHANGES are you serious? How can anyone fall for this. There is no such thing as 100% people say, but it is not always true. Here we have an exception I can guarentee with 100% certainty it's a ponzi and people are running away with their clients money.

Order books are not going to just absorb hundreds of thousands of Bitcoins .

There are so many people that are going to laugh about this. Look at Bitconnect... All the Carlos Matos videos and memes.
Crypto investors thought they would be the ones to laugh. They won't be the majority when it all collapses.
I really enjoyed the Carlos Matos period. Was very funny. I am sure this will be even greater.

There is no way Bitcoin only falls to 1k. 2 digits is not out of the question...



* If Bitcoin prints a top at $6300 I need a cheap/easy way to short it. Or maybe I'm better off waiting for denial to end and things to move faster. Maybe.
Ye vulture style. Let's wait for things to get bad. Maybe long only is better. Rallies in bear markets are very strong and very fast.
I am going to make an idea about the 4 different market conditions so stay tuned.

By the way on the CME Bitcoin volatility is capped at 20% a day and market makers are obligated to do their job. I think there is no unlimited risk for that reason. I think we should short on the CME .
Comment: I hope I am not spamming.
I made a mistake in my post.
Wave C is not going to $1000 according to EW and market cycle analysis that was wrong.
Need to correct it.



It's going to 300, this makes much more sense.

Might as well expand further:





"Last time the bears said"

Comment: Bitfinex'ed has a youtube channel and he posted an interesting video showing the questionnable history of Bitfinex and Tether.

It starts from when bfx founder was trying to start a ponzi in 2012 - promising 2% a week with no risk - 1 month before launching the exchange wink wink (with his 2% a week he should be the richest man in the world now right?) to the recent news.

Some really interesting parts such as the evidence that was presented showing that Tether was used to pump Bitcoin price for years.

I noticed people are arguing about crypto fundamentals or telling me I am wrong about Bitcoin. I have not criticized Bitcoin itself once in this idea.
The issue is not Bitcoin itself it is wash trading exchanges and Tether.
I can't possibly make this more clear.

Now, remember the Madoff ran his ponzi - the biggest ponzi of all times - for over 20 years. And when in 1999 a financial analyst showed UNDENIABLE MATHEMATICAL EVIDENCE Bernard Ponzi was lying and numbers did not add up, investors and the SEC ignored him. He kept trying they kept ignoring him. Madoff kept running his ponzi for 9 years!

Bitfinex has existed and been questionnable for 'only' 6-7 years.
The difference thought is the USA are onto them. They got a subpoena, their answer was withdrawing from the US (something someone innocent would do right?), they are getting sued too. I do not think the FBI/or other agencies just let go of them. They did go after BTC-E CEO after all.

Party's soon over imo. I would not be surprised if they ended up in Guantanamo getting their teeth pulled out until they gave away their keys.

There has been more rumor recently, but I ignore it unless I get evidence. Something few seem to care about.

Funding is huge, desperate people could print as much fake money as they want - justice is slow they'll act way after we get liquidated - selling until now has been slow most of the time, and funding is huge, so I will NOT be shorting. There is much more to making money than knowing what direction something is going... (Just like there is more to making money that spotting a successful company).

As short term traders, the most awesome thing to do in a bear market - especially crypto, is buying bottoms. Do not catch the falling knife they say, sure but:
+ In bear markets rallies are brutal: very big %
+ In bear markets rallies are brutal: very fast
+ Risk is limited price cannot fall below 0
+ Crypto keeps having these pumps after dead periods. I saw the last one coming like 1 day before, and the one before that, and the one before. It's easy.
+ That one is a secret ;)
+ Conflict of interest... CEO of Binance Tether and Bitmex have very clearly showed their support for crypto and especially Bitcoin... "Funds are safe" as I like to call him even was celebrating and mocking bears when Bitcoin got pump-er I mean made a legit bull break the 1rst April.


Other than that there is just too much bad news at the moment.
A cryptocurrency laundering place has been raided, some Bitcoin company security trading was halted by the SEC, more Bitfinex news, etc... Too much don't even want to look into it right now.

In this ponzi only interesting thing really is staying away most of the time, and perhaps jumping in when the price is about to rally. If it wasn't predictable I wouldn't have seen it coming so often. I don't think I was just lucky several times. Just make sure you get out before the rest.
Comment: Raphy (Bitfinex founder) has stayed away from bitcointalk.org since december 2017.
I guess his lawyers told him that was the best? And unlike Elon Musk he listened.

Ah, of course he removed the part where he told everyone his name (before he made bitfinex and anyone knew who he was), he deleted every post about his ponzi Unclescrooge 1-week deposit program at 2%/week,
BUT he could not delete the thread HAHA. So basically you see his account start a thread with no message, but you can still see some of what he said in people quotes. Anyway, there's screenshot of it all, the internet never forgets.

Also, on his linkedin, he has distanced himself from Bitfinex. According to his linkedin he quit finex in May 2015 (Tether began being traded on bitfinex in 2015), and since then has been "self-employed" and nothing but a mere investor in bitfinex.

"After a successful launch of Bitfinex, I continued to work as a developer for the platform as well as other clients until the beginning of 2017, then onto some personal projects."

Remember:
Nov 2017 Bitfinex runs away from the USA. They won't service US residents.
Jan 2018 U.S. Regulators Subpoena Crypto Exchange Bitfinex, Tether.
Jun 2018 Phil Potter resigns from Bitfinex “As Bitfinex pivots away from the U.S., I felt that, as a U.S. person, it was time for me to rethink my position as a member of the executive team,”
April 2019 Tether gets sued, exchanges get leaked. The CEO admits that funds have been frozen

- Somewhere in between raphy has erased every trace that incriminated him and distanced himself as much as possible from Bitfinex "I was just a developer working on the technical aspects" I cracked up when I read this. Poor Raphy, didn't his lawyers tell him? In french law screenshots from the internet can be used as proof... (he is from Lyon, France) Maybe he is going to try his luck with another country's law thought, except the only law that matters will be guantanamo law.

What a humble man, usually people try to make it look like they run the show and exagerate their involvement, but Raphel, no he is not one of those, all he did for Bitfinex was help them debug the platform code. Did I tell you he learned alot about Ruby on Rails while helping Bitfinex? Poor Raphy, he was just a little guy helping out the big boys.

"I was just a coder" - Raphael Nicolle
Comment: Another cold fact for crypto bulls to argue about:
2019-04-26: 17,253.5 Bitcoin withdrew from Bitfinex cold wallet
2019-04-29: 12,879.69 Bitcoin withdrew from Bitfinex cold wallet

Last time they withdrew so much was in september 2018 and then some more in mid to late october.
There are so much more withdrawals than deposits.
The wallet size keeps going down. Volume and price went up.

Bitfinex cold wallet is not longer the biggest one it's only at rank 5 now.

WWWWWOOOOW BINANCE TOO!!! Lol nice, 21k was withdrawn from Binance.

Legal regulation compliant exchanges working with the USA Bitstamp and Kraken had 0 withdrawals in the past month or two.

I am looking for trans fee exchanges cold wallets. People are telling us that coinbene got 100 million "hacked" 30 days ago but explain that it is not possible and they must have sold it themselves BUT they are not giving me the cold wallet address geez is is that hard? Will check and update.

By the way, if you argue that the blockchain is flawed and these withdrawals are not real, then it undermines crypto as a whole.
Comment: It just keeps getting better and better.

Guess how Tether/Bitfinex is filling the hole?

Hah! Easy, they created shares and gave them to Tether as collateral.

Or in other words, created more imaginary magical money to fill the gap created by the magical imaginary money they used to fill the gap created by 850 million being seized due to them and their partners being criminals printing imaginary money and other things yay!
How further can they take it this is the question?

And they complain about government FIAT LOL.

I am actually curious what they could invent next gap? An ICO to pay for the gap created by the magical imaginary money used to pay for the gap created by the magical imaginary money used to pay for the gap created by the magical imaginary money used to pay for the gap created by the magical imaginary money used to pay for the gap created by the magical imaginary money used to pay for the gap created by the magical imaginary money used to pay?

Haha this sitcom is too good :D

To be honest they'll probably all be on the run or behind bars before too long so it won't get to that point :p
Comment: Tether and Bitfinex representative just answered the court.
Tether is only backed at 74% by cash and "short term securities" (I'll let you guess what this means), and are whining that the USA have no juridiction over them.
They have the strongest military in the world. The strongest air force, and know what the second most powerful air force in the world is? The US NAVY trollface.
The USA have juridiction every where.

No one that can and isn't an ally will harbor criminals threatening democracy.

Told you so.

"What the bears say about Tether is just FUD"
Now we have:
- Common sense telling us it is a scam
- Evidence
- A confession

Just FUD hey? Tether is obviously backed hey? Where are you now?
Pfff was so obvious Tether wasn't backed. "Um ye doing an audit is very complicated". HAHA all these crypto bulls that thought it was FUD actually fell for that?

Shaking my head...
Comment: Ok soon I will stop updating this when huge news hit because huge news keeps hitting. There is so much going on I can't keep up anymore.
I try to filter the info and make something digestible for trading view but still there is a huge text wall. Doing what I can XD

You thought China FUD was bad? HAHAHAHA try USA FUD.
Once they decide they had enough they will CRASH IT TO THE GROUND.
ZERO. Literal 0. Not 2 digits. Non existant Bitcoin.

We haven't gotten to that point. What we have gotten into thought is a major crackdown.

AGAIN, some more criminals are being targetted.

"The U.S. Department of Justice announced Tuesday that it has hit two individuals with bank fraud charges in connection to a system for depositing funds to cryptocurrency exchanges.

In a statement, U.S. Attorney’s Office for the Southern District of New York alleged that Reginald Fowler of Arizona and Ravid Yosef, said to live in Tel Aviv, Israel, were part of a scheme that involved using bank accounts to move money into a series of unnamed cryptocurrency exchanges.
...
That firm was previously identified as doing business with crypto exchange Bitfinex, which is being investigated by the New York Attorney General’s Office in a development that last week spilled into public view, in October.

“Reginald Fowler and Ravid Yosef allegedly ran a shadow bank that processed hundreds of millions of dollars of unregulated transactions on behalf of numerous cryptocurrency exchanges,” U.S. Attorney Geoffrey Berman said in a statement. “Their organization allegedly skirted the anti-money laundering safeguards required of licensed institutions that ensure the U.S. financial system is not used for criminal purposes, and did so through lies and deceit.”
"
Some exchange in europe got closed and the CEO locked up I heard too. I can't even keep up anymore. BLITZKRIEG! They are attacking all fronts at once and overwhelming every one.

Isn't the FBI the biggest Bitcoin holder already? They're about to get much bigger lol.

Ok so about PonziFinex. Raphael and Phil ran away from it, the last guy left Giancarlo Devasini I will assume - this is speculation - is the craziest guy, and he is the one left... alone.
I would not be surprised if he suddenly printed 100 trillion Tether, pumped Bitcoin price to 100 million, emptied Bitfinex wallet (well he already started), and ran away to some island :)

I never felt better about being a honest, fair, law-abiding and never lie than today.
I might get alot of hate from crypto bulls for not lying to them, and I miss out on making alot of money scamming people, but I sleep sound at night and do not have to worry about being kidnapped by men in black in the middle of the night. Aaaah. I wonder how Raphy is sleeping? :)

Sorry for all the text. Just so much going on.
Comment: 40,000 Bitcoins were just moved from an unknown wallet. Aïe Aïe Aïe.
bc1q9sh6544xls87x7skjzyfhkty4wq7z76vn7qzq9

1,000,000,000 #XRP (308,891,433 USD) unlocked from escrow at Ripple Escrow wallet (Ripple bosses cashing out a bit more? I wonder why Ripple has stayed down when other alts were rallying. Who knows?)
rDdXiA3M4mYTQ4cFpWkVXfc2UaAXCFWeCK



Tether is like half a ponzi. You can't get your $ back but you can get your ₿ out (30k withdrawn from Bitfinex & 20k from Binance).
So perhaps the same thing that happened with MtGox happens, it just will have less impact I assume.

People buy Bitcoins, price pumps, then they sell, it dumps.



Would have less impact, but at least enough to go up close to 6000 and then down to 4500 or something. Or we can just go down without making it to 6k. Or we can see 3000000000 Trillion Tether just pop out and Bitcoin never stop going up. This might mean zero thought. Every action has an opposite reaction. No matter how strong you believe in a number in a database, it won't change the laws of the universe.

Other news, india wants to ban crypto.
The news is getting bad (wave C), the US are cracking down on all the crooks, and as usual, the rest of the world will follow. Expect several countries to ban crypto entirely, starting with India maybe. Expect more $ and ₿ to get seized, and expect more people to sell, a little of something is better than all of nothing.

As long as the USA do not ban crypto (who can do this? Trump? He wants to get re-elected thought) we good. Go 3 digits but not lower.
If crypto gets banned by the US well emmm in practice we can say it's zero then.
Not saying this is likely, just a risk.
Comment: I was looking at Jaguar Land Rover for my Tesla idea and they are interesting in designing a system that pays drivers in crypto - Iota - for spotting congestion points (which will make driving more efficient and generate yet less CO2 and save their clients time & money).
I have a hunch the more complicated part will be the legal & accounting part.

Interesting. The serious company choose a crypto that is cheap scales rather than the overhyped ponzi that does not work and is full of bugs and criminals.

I am seeing a pattern. Every one that actually wants to use a crypto looks for one that actually works and doesn't cost an arm and doesn't require a chinese giga power plant to run at full capacity for 1 hour just for 1 transaction and preferably without 10 dudes that own 40% of the supply and with a company or ngo behind it, not just random people.


Oh by the way, the botnet attacking Electrum has grown to 152,000 infected computers and has now stolen $4.6 million in cryptocurrencies such as Bitcoin, according to Malwarebytes.

Ripple, which continues to dump their scam on fools "it's perfectly normal they do this every month", has announced yet another shady partnership that they paid for to pump the price and dump their coins once again, and then use part of the profit to pay for another fake partnership.

As usual mentally challenged crypto fans are defending Bitfinex - absolutely amazing - with exceptional arguments such as:
- So what? They're no special case, other exchanges are as bad
- Why do you have crypto so much
- You are an idiot
- Do your own research
- This is wrong at so many levels
- You were wrong 6 months ago haha
- That's what they said last time
- How much did Jamie Dimon pay you?

Not a single fact, not a single argument. Only insults, personal attacks and "so what? others are as bad".

There are a ton of bullish news, but as usual, not a single factual one.
Only "prices could be going up" "investors are bullish" "In may prices will go up" and other vague made up crap to bait idiots and pump the price. The usual.
Comment: Oh happy day.
Things are progressing.

The court is afraid the crook that ran a shadow bank for Tether might run away because he is facing up to thirty years jail haha.
They even found 14,000$ of counterfeit money in his appartment XD

I remember the good old days when people told me I was spreading FUD about Tether and me calling these people criminals was ridiculous and I was a complete idiot. I bet these geniusses would still argue with me today XD
My favorite kind are the totally relaxed ones that are so overconfident and 100% convinced they are right. 0 stress. Well that was 12 months ago, I think they are a little less chill now ^^

I hope they all end up behind bars where they belong.

According to certain crypto bulls, the risk of a bictoin bank run is "good news" because "risk is part of healthy markets".
Gosh, what a bunch of absolute morons.
Comment: Unsurprisingly Bitcoin is going up, with a premium of 350$ on Bitfinex.


I said Bitcoin would go to at least 6300$ but not really sure anymore.
Doesn't really matter.

Just checked Raphael Nicolle linkedin. Once again, he has reduced his involvement with Bitfinex. Now he does not mention giving a hand in the 2015-2017 period. And his initial involvement is reduced, and he has 0 ties left with them.
I wonder why?

Even better:
It was disclosed that Reggie Fowler has a strong history of commiting or planning to commit crimes, in particular financial ones.

No one could have seen this coming. NO ONE.

It just keeps getting better and better.

I wonder what will come out of this.

I remember when Bitcoin super fans kept calling this FUD and nonsense.
They were 100% sure Tether was not a scam and saying criminals were involved was nonsense and trolling.
I think they enjoy being wrong.
Lmao maybe they heard "go against the majority" and they took it literally "oh this sounds like an extremely stupid thing to think and every one knows how obvious it is, I will go against the herd and think the opposite ooga booga".
Hey Bitcoin believer every one thinks you cannot breather deep under water wink wink.

Going to be a short soon.

Here are a few useless indicators not telling me anything I do not know already:


Comment: I remember when I was called an idiot for saying crypto was a ponzi (the dumb money that joined the party late will of course immediatly assume I mean the tech or Bitcoin itself not the community and the way it has gone).
I remember when I was called an idiot for saying this ponzi was a cesspool of criminals terrorists money launderer.

Welp, guess what? It was just revealed Crypto Capital accounts were seized in Backpage sex-trafficking bust.
A HOST of crypto companies were used by CRIMINALS whose crime was selling 12 yo girls to fat bald men among others, to LAUNDER its dirty cash.
WOW, exactly as I said 1 year ago and kept repeating.

No one could have seen this coming, no one.

The USA are now cracking down on every one, they want to dismantle the whole crypto ponzi, every company involved as well as other criminals involved in other affairs.

And the funniest part, is crypto bulls, the dumb money that joined later, is totally ignoring these facts.
1 year ago they were saying it was not true and that is was Bitcoin would be abandonned and go to 0.
Let me repeat, I DID NOT SAY THIS. The crypto bull investors did.
So, now that we found out every thing I said was true, they should be abandonning Bitcoin since it is going to zero right? They said so themselves.

Nope, "it's just FUD fundamentals are great". Know how we call this? Denial.
I saw things... I even saw "Ah there is a risk of bank run, good, Bitcoin needed that, risk is a part of healthy markets".

What goes after denial is panic, and it will be biblical. I look forward to it will be amazing ^^







Comment: My last update was about crypto capital criminals.
The investigation of ifinex bitfinex tether etc criminals made progress.

Exactly as I expected. You can find the documents on ny state court site. I provide links in twitter.

I will try to sum up the developments, at least the part i understand, and I am no lawyer so don't get mad if I call a crime something that is "not a crime but a felony" or something :p:

- Because the Bitfinex crooks were unable to find a single reputable bank in the ENTIRE WORLD (hahaha) that would work with them, they gave - GAVE - money to Crypto Capital (a fraudulent "company" as has been explained by the court and as I explained in a previous update). Knowingly working with a bunch of criminals is a crime.

- Despite the hundreds of millions of dollars it was handing over, Bitfinex never signed a contract or other agreement with Crypto Capital (another crime).

- In mid-to-late 2018, executives at Bitfinex/Tether began to suspect that Crypto Capital had lost, stolen, or absconded with the funds, and as of today, the companies have been unable to locate, much less recover, approximately $851 million dollars handed over to Crypto Capital. None of that had been disclosed to investors - they tried covering up the loss (yet another crime).

- In order to fill the gap, executives at Bitfinex, who also own and operate Tether (they lied about that too probably a crime), took hundreds of millions of dollars from Tether's cash reserves, and used the cash to prop up the Bitfinex trading platform (crime I think).

- They go further detail Bitfinex crimes about moving money from Tether to Bitfinex, not going to list it.

- Respondents fraudulently (the document uses that word) shifted most or all of Bitfinex's risk of loss of several hundred million dollars onto Tether's balance sheet, but continued to represent to the market that tethers were fully "backed" by U.S. dollars sitting safely in a bank account. They were not (AND AGAIN a crime they're trying to beat a record or something).

- Respondents then engaged in an undisclosed and conflicted transaction to give Bitfinex even more access to Tether's reserves, and did so in a way that hindered the OAG's investigation.

- Respondents told the OAG (Office of the Attorney General) that they were contemplating extending a "line of credit" on the Tether reserves to Bitfinex in the amount of $600 to $700 million, and that the transaction was imminent. Short version OAG asked for documents proving it, nothing was provided and months later ifinex ponzi club told the OAG the transaction was processed and every thing was fine (and actually expected them to fall for this? :D)

- In March 2019 they kept pulling hundreds of millions from Tether and never told anyone. This supposedly "arm's length" transaction is "secured" by shares in iFinex (i.e., Bitfinex), which there is little reason to believe have any real value, especially in the event that iFinex itself defaults." (As I said before, see? Justice agrees with me).

- "There are other facts that support the OAG's conclusion that Respondents have violated the Martin Act, and other New York laws"

Then they go on about the law and ifinex lies and how they kept contradicting themselves.

Ifinex latest prank, their 1 billion IEO (get some money from dumb investors to fill some gaps) is not mentionned. Imagine deciding to buy shares of a ponzi so they can replace money they threw away to wanted and known serial felons.

Kali muscle makes some funny and useful videos about how to eat and train in prison. I recommend ifinex executives start watching and start learning.

- The OAG also wants to shut down the fraud.



Comment: ------------------- PonziFinex crew developments

The 5 May PonziFinex answered the NYAG (they published a motion to vacate):
1- "The court has no right to attack us because New York Attorney General (NYAG) does not even explain how Tether (USDT) qualifies as a security or a commodity covered by the Martin Act"

2- "We did not do fraud and no one got harmed and everything is fine"
A. The Attorney General Will Not Succeed on the Merits .............................. 8
B. There Is No Harm, Much Less Harm that Is Ongoing or Irreparable ....... 10
C. The Balance of the Equities Favors Bitfinex and Tether .......................... 11
==> So to sum up blatant lies, argue with everything even if it does not make sense, factless claims, absolute denial. They are not contradicting anything the NYAG said when she proved the commited fraud. Seems to be very common in the 2017+ bullish crypto investor community. Check my comments to see more of this.

3- iFinex argues that the injunction is “hugely disruptive” because it freezes in place over $2 billion of the Tether’s reserves and prohibits any investment of any kind “into the indefinite future.” iFinex says that the “massive regulatory overreach has no corresponding benefit” because there was no fraud and “much less harm that is either ongoing or irreparable.”.
==> Music to my ears. Would this mean the end of Tether pumps?

I don't think it was answered yet, but in a previous document (or a recent one I haven't seen yet?) they said this:
1- "The Bitfinex platform transacts in both securities and commodities (like bitcoin), and is of course at the core of the fraudulent conduct set forth in OAG's application.
2- Well they proved this ... clear undeniable fraud acts on several occasions. With proof. No idea why ifinex is arguing about that. It must be a virus, crypto "believers" always argue with everything including proven facts. Maybe it's some kind of Ebola that messes up your brain. I hope I am immune.
3- LOL. "Please sir don't send me to jail I have children it would hurt them". Absolutely ridiculous. "Let's bend the law because if applied it's really anoying"

ULTRA BONUS "Tether tokens are just one part of the alleged fraud".

Lmao the ny court scanned a wsj article that said bitcoin rally was bad news.
"The price of bitcoin hit a 2019 high on Friday, but the gain may be less about demand for bitcoin and more about problems at the embattled exchange Bitfinex."
EXACTLY WHAT I SAID :D
People are buying Bitcoins to get out! Only delusional bulls disagree!

------------------- Crypto capital fraud developments
Indictment against REGINALD FOWLER and RAVID YOSEF.
The have been found guilty of the following crimes:

COUNT ONE
(Conspiracy to Commit Bank Fraud)

COUNT TWO
(Bank Fraud)

COUNT THREE
(Conspiracy to Operate an Unlicensed Money Transmitting Business)

COUNT FOUR
(Operation of an Unlicensed Money Transmitting Business)


They have been sentenced to pretty much giving all of their money to the USA but... they aren't going to jail?
I don't know how this works, there is a crime part and a civil part or something? They will be sentenced to jail separately?


For some reason yesterday there is an evidence scan of btcrush ponzi shutdown order. They exit scammed last year right?
Just shows what they think of Tether ifinex and crypto capital lol. Using a ponzi cease and desist order as exhibit. I like how they think.
BITCOIN TRADING & CLOUD MINING LIMITED AKA BTCRUSH => EMERGENCY CEASE AND DESIST ORDER

And there are a few more scans of ponzi's getting shut down.
There is a court order about Rockview Apartment Corporation this has nothing to do with Bitcoin ponzi's. Is this a mistake or do they just dump everything in the same folder?

I heard there was something happening today, let's see.


It's like the Bogdanoff's had a little phonecall with the US department of justice.
Comment: Bitfinex: No one is willing to audit us because they don't want to damage their reputation by auditing us! Asymmetric risk!
New York Attorney General: We'll audit you! For free!
Bitfinex: NOT LIKE THIS!
New York Attorney General: Send documents.
Bitfinex: NO GOD PLEASE NO!


Crypto pumping a little more. Of course, on Bitfinex there is a premium of 350$

Bitcoin JUST entered the supply area.


It might be early, but for me it is time to short. I even shorted at 5800.
I mean, Bitcoin has been overcutting again and again...
It could go higher but this is like a brick wall so it should be hard for it to simply go throught. I think the odds of just passing even the first fifth of that wall (6300) are very very low.

Comment: WOW.
WOW.

Bitfinex is using its users personal information to open up bank accounts in their name without your knowledge. Some of them are now involved in a crime.

WOW.
WOW.

Good news thought, no one can take your Bitcoin from you, and all Bitfinex users have to do is patiently wait & HODL in jail while their Bitcoin goes to 50 million £ / unit.

You are the early adopters and will be rewarded immensly for "believing" in it definitely not just in the price going up.
(Over 90% of chinese has heard of crypto and 1/7 invested in Bitcoin, more than half of europe and north america has heard about Bitcoin)

I just hope other inmates do not hear about you possessing some Bitcoin, this could end very badly, ouch.
Comment: 12 months ago: "This FUD about Tether is absolute nonsense and made up, people are really emotional and cannot ignore the news and noise. The banks get caught cheating all the time crypto protects us from this. Short the banks long Bitcoin."

6 months ago: "Pfff so what Bitfinex is having some issues? It happens, every one can have some technical issues. The people in power won't touch crypto it is too profitable to them."

1 month ago: "Pfff this 'tether are criminals' talk is so greatly exagerated. So what they cheated a little? The banks do it too? It is perfectly normal we are not pretending people in crypto are better or protect us from this. The USA will do what? LOL you are seriously delusional if you think the USA will do anything"

2 weeks ago: "Pfff this is just FUD Bitfinex is only 1 player it won't impact Bitcoin. Do not listen to this nonsense FUD guys. Crypto capital is irrelevant. FUD FUD FUD."

Today: "Pfff so what crypto capital got convicted on 4 counts of fraud? The USA want to put their nose into every thing. The fact that USA citizen cannot freely use foreign company services, if they are not regulated in USA - is silly joke. People manipulate and exploit each other everywhere all the time, in crypto, in banks, in governments, in relationships .... deception and exploitation is unfortunately in our nature. The USA have no right to put their nose in our business."

In 12 months: "HOW COULD THEY LET THIS HAPPEN?"
Comment: Welp.
Binance just got hacked.
Hackers have access to their hot wallets, possibly more.

7000 BTC got withdrawn already.

Withdrawals are shut down for one week.

No one could have seen this coming. No one.
Comment: 7 PM GMT. Binance CEO tweets "Have to perform some unscheduled server maintenance that will impact deposits and withdrawals for a couple hours. No need to FUD. Funds are #safu."

11 PM GMT. Binance announces a security breach.
"We have discovered a large scale security breach today, May 7, 2019 at 17:15:24. Hackers were able to obtain a large number of user API keys, 2FA codes, and potentially other info." (Before the CEO tweet).
"The hackers were able to withdraw 7000 BTC in this one transaction:"
"We must conduct a thorough security review. The security review will include all parts of our systems and data, which is large. We estimate this will take about ONE WEEK. We will post updates frequently as we progress.

Most importantly, deposits and withdrawals will need to REMAIN SUSPENDED during this period of time. We beg for your understanding in this difficult situation.

We will continue to enable trading, so that you may adjust your positions if you wish. Please also understand that the hackers may still control certain user accounts and may use those to influence prices in the meantime. We will monitor the situation closely. But we believe with withdrawals disabled, there isn’t much incentive for hackers to influence markets." (The hackers are too stupid to dump the price on binance while short on bitmex? Oh ok good to know. Or pump it if they can.)

This sounds awfully familiar. With all the hacks and guilty verdicts etc the price has not dropped. Shows how natural/rational this market is. "Buy when there is blood in the street" lmao. Someone explain to all these bottom chasers that if not a single person other that bottom knife catchers is interested in buying the price will not go up. It will just bottom and not go up.

I'll make sure to screenshot all of this in case certain people affiliated with a certain justice system need this. They won't need it, of course, but I prefer being safe. I want to do my part!
Comment: I thought Bitcoin would bottom and end end being adopted (I am not telling at what price, this should not be important since every one really loves Bitcoin and not the price action right).
Seriously I don't know anymore. What is the point?

The code is awful, only a handful of people can use it or the entire system collapses (is this improving?).

Exchanges have decided to block deposits from the hack BTC address, not that they would have given their name and address lol.
They are probably money laundering anyway.

Some people have come forward and given the possibility of rolling back the transaction.
So here goes your "no one can take my Bitcoin".
And here goes your "decentralized" once again.





Archie was here first. Who even knows what Archie is now?
Lycos anyone? Anyone?
HAHA Altavista was valued 2.3 billion in 2000, and finally bought for 140 million in 2003, and where are they today? "It's just FUD buy cheap" they said in 2001 XD.

Story of Yahoo, the huge search engine that dwarfs anyone else:

It took nearly 20 years to fully grasp the amount of hype that went to their heads and how stupid their decisions were, but we got there.

Bitcoin mistake will not be obvious to the commoner right now, nor will it be in 3 years (probably). Going to take a decade, or two, or three (these people are pretty slow).

The first car company Benz, by the inventor of cars merged and became mercedes benz that is a subsidiary of Daimler AG that is still around and rather big. But Benz is a merged bought and even the parent of its parent is not the biggest one out there. So its still around like some search engines. But pretty far from being "THE ONE".



Same story of ISP's. Same story with phones. Remember Nokia bubble when they made their super phone? Was it in 1998? I learned this at school it was so long ago xd and the internet "forgot" this story, its so hard to find... Since it did not go up.

What else? Literally every invention. Even Fiat currencies failed, the one that is still around the british pound, it has been around for idk 300 years. It was number 10 or something idk. Not sure arbitrary value currencies can ever really succeed, but most people in crypto seem to think the cryptocurrency fiats can succeed so they believe in fiat obviously.

Comment: I like how things are turning. I am learning alot from market cycles.

Today headlines are crispy.

Feb 2019: Mining Giant Bitmain posts $500 million loss in IPO financial filing

March 2019: Bitmain is planning to deploy 200,000 units of its own mining equipment in China to take advantage of cheap hydroelectric power this summer.

The equipment is conservatively estimated to cost $80 million, but it may be more profitable right now for Bitmain to mine crypto itself than try to sell all this inventory.

The move signals a broader shift in the market, with miners preparing to invest again following last year’s contraction in capacity.

May 2019: Bitmain’s Hashrate Noticeably Dropped in Past 30 Days. Now down 88%


08 May 2019: Investor Takes Legal Action Against $4 Billion Ponzi Scheme, OneCoin

08 May 2019: Tron Justin Sun Tries To Manipulate TRX Price With This Tweet, Price Pumps Immediately

08 May 2019: Tron discovers network weakness to DDoS attacks

07 May 2019: Tron Justin Sun apparently flexes on twitter about money laundering the stolen 7000 BTC.


I like today headlines. "Wave C is when the fundamentals turn very bad and when most retail investors that cannot afford to lose more end up selling".

Let's see how this ages.
Comment: I did not want to be too harsh yet because people clearly are not ready for this...
But things are accelerating...
Criminals being stopped, ifinex doing their last stands, anti crypto laws being prepared...
Scams everywhere...
As the denial bull run is about to end in euphoria (people are making calls for 5000$ ETH again...) I think the time is ripe to reveal... Bitcoin... ultimate fate...

Careful, this post contains something the bulls hate: solid facts.

Comment: Tesla exit pump still in progress.
This was a typo. I will leave it here.
Ok other fraud, Tether Bitcoin.
Exit pump still in progress. Waiting for a top to form before shorting.
But might reverse in V shape, if such is the case nothing I can do, miss out.
Never going to enter blindly

So many bears that were "not missing out" have kept shorting this pump and lost everything they made while they "were not missing out" and I was, and more, because they kept shorting this pump. I made 200%, they made 15,000%.
And then I lost less than 0.5%, and they lost 99.95%. Who wins? You tell me.
And I can still short this scam when Bitcoin actually makes a top.
But they can't. Good luck making it back.
I told people this could endlessly pump and pump. Consider it can keep going to 50 million.

People laughed at me for shorting, and also laughed at me for saying it could keep going up. I am a fool for shorting at around 6000 when it was possibly reversing? I took a tiny loss, while Bitcoin bulls take 25% losses on a regular basis and average down on losers with borrowed money.

I was a fool for saying Bitcoin could get pumped more than you possibly could imagine?
Look at the bears now. Destroyed. Told you so. Cher.

So the win team of the justice system has made a few propositions:

They are not allowed to print fake tether, they are not allowed to send usdt to bitfinex, they are not allowed to loan fake money that was loaned (pretty much not allowed to make a ponzi but with new tech and call it something else), they are not allowed to destroy evidence.
They have denied their motions to vacate.

We will see what the judge will decide and what will happen with ponzifinex.

The ponzifinex premium is gone, now usd exchanges have a premium.
Comment: Still waiting for a sign the exit pump is over. Might short @ a little under 9k.

(Bloomberg) -- Lost among the current bout of cryptocurrency euphoria is the fact that capital outflows are exceeding inflows on some of the biggest digital-asset exchanges.

While that may sound counter intuitive to the basic laws of supply and demand with prices of Bitcoin and other tokens surging, it’s not that rare an occurrence in a market that has been dogged by allegations of fraud and manipulation over its decade long existence. TokenAnalyst, a London-based provider of blockchain data, estimates that withdrawals from trading platforms including Bitfinex, BitMEX, Binance and Kraken have exceeded inflows by about $622 million over the past 5 days. Bitcoin’s more than 30% price rise since last week may have been exaggerated by capital flight from the controversial exchange Bitfinex and its affiliated stablecoin Tether in the wake of allegations that the companies that control both co-mingled client and corporate funds to hide losses.

As in past periods of turmoil, investors are seen seeking the safety of Bitcoin because it’s the largest and most liquid token. “Since Tether is insufficiently backed, it means that some of the reserves backing customer assets on exchanges are likely insufficient,” John Griffin, a finance professor at University of Texas at Austin who had examined cryptocurrency market manipulation, said in an email. “So smart customers will not custody their funds on exchanges and pull their crypto off exchanges. This could put further upward pressure on Bitcoin prices as one would rather take fake money and exchange it to Bitcoin.”

Data from TokenAnalyst shows that Bitfinex had net outflows of more than $1.7 billion of Bitcoin and Ether from the exchange since April 26, after New York’s attorney general alleged the companies engaged in a coverup. Bitfinex and Tether dispute the allegation and have classified the transfer of funds as a loan.

Remember Bitfinex premium?
Comment: 16 May: The court sentences ifinex to several things, including stop using Tether to buy Bitcoin, let the ag look into their file, and not destroy any evidence.
A few hours later Bitcoin prices drops $2000.

Well... on USD exchanges Bitcoin price drops to 6200-6600.

On Binance and Bitfinex, it remains above 7000.

Worry not citizen, all is good.

Comment: Craig Wright registered as Bitcoin whitepaper & code owner.
BSV went up 200% in 1 hour as a result.

The Tether situation is worsening.
“Tether sounded to me like sort of the calm in the storm of cryptocurrency trading. And so if Tether is backed by bitcoin, how is that consistent?” ~ the very astute Judge

Bitcoin price action shows it may already have topped, or it could go up to around 9500, then crash and resume a bear market for the next years.

I feel I am going to really enjoy the month of June 2019 ^^
Comment: 100,000,000 Tether printed.
Bull market ahead.
Comment: Banned by the court from printing Tether.
Immediately go and print 100,000,000 "Ether" Tethers.

Giancarlo just does not care.
I can't wait to see the judge / AG reactions.
Giancarlo going to hold pockets soon, that or simply be on the run.

That any one would want to buy and hold at this point is really beyond me.
Just want to make sure I take some of their money on the way, they do not need it anyway.

Ponzi scheme.
Comment: It keeps getting better. Made a new idea.
What a predictable ponzi.
If you follow my twitter, I posted that I went long 2 minutes before the pump, 2 minutes. And then shorted at the very top. Very very very easy.
Also got free money from the extremely high interest that stuck delusional bulls pay bears on Bitmex. Got 30% of my risk back since May 27 when I shorted.
Thanks for the money.

"Willy bot was built to stabilize the market"
- Mark Karpelès, master troll.
I've never seen so many words and pictures printed for a failed trade. Better luck next time.
+7 Reply
emrelg mortdiggiddy
@mortdiggiddy, abstract idea :)
Reply
How is it so predictable but you got rekt on this trade the entire time. i feel like you deserve a ban, you're clearly trolling users. Nobody is actually losing this much money.
+3 Reply
BorisPoff MrMarketMaker
@MrMarketMaker, ban? Nah. This is extremely educational.

It’s an example of a trader who keeps making terrible calls, documents them for everyone to see, then clearly loses money and THEN makes up a story how he made a brilliant move and recovered his losses within 2 minutes.

The funniest part is he thinks someone is going to believe this nonsense.
+1 Reply
Just wanted to stop in and share my condolences with the money you lost on this short trade.
+8 Reply
too bad I already liked the post, id like again lol
+1 Reply
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