Bitmex in the crosshairs - Mine Digital
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Bitmex in the crosshairs

May 21, 2020 • 
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The school of wizards creator looking at magic internet money.

Here it is, the eleventh edition of The FUD, where I talk about the biggest FUD of the week. I help clarify events that crypto twitter decides to escalate. Leggo.

This week we had JK Rowling asking about bitcoin, she got trolled, that’s why we can’t have nice things. “Satoshi” moved some BTC and we lost an OG.

Pour one out for a real OG

AABTC, Actual Advice Bitcoin, passed away. We take a moment to remember the legend who helped CryptoCobain slay the Bear Whale, back in the day, saving us all from doom, we remember the no filter, straight to the point OG. The trader that made it to the top of the Bitmex leaderboards.In Memory of a Crypto LegendRIP

I feel quite shocked about it because we spoke 2 weeks ago about Whisky & Wicks and everything seemed fine. Rest in peace comrade.

Twitter has a new feature — Udi knocks Vitalik

Twitter dropped a new feature. Essentially a troll guard, now you can tweet and only those tagged can respond allowing for troll-free AMA’s I guess.

Udi didn’t hesitate to seize the opportunity to fire shots at Vitalik, asking the toughest question in crypto, “why use a Blockchain instead of a spreadsheet”. To be honest, Vitalik handled himself well, much respect. I love the initiative by Udi, AMA Justin Sun next sir.

JK Rowling, How does a muggle become a bitcoiner?

Last week Paul Tudor, this week, Harry Potter. The space is constantly growing. JK Rowling took to Twitter to ask about Bitcoin.

She won’t do that again. She had replies from leading influencers and even Elon Musk. She was not convinced and did not see the purpose of Bitcoin.

The thing is, Bitcoin was not made to serve the rich, as a billionaire, JKRowling DOES NOT need bitcoin. It was not built with her in mind.

Never the less many took the opportunity to simp, justing offered a free Bitcoin while CZ “complimented” her (I guess) on how “she doesn’t need to be fed”.

Bitmex Down

Watching TV, scrolling through twitter, I see this. As I frantically run to the screen knocking down everything in my path I become aware it’s just a joke.

Bitmex went down suspiciously during a sensitive time as Arthur and Bitmex are being threatened to be shut down for operating illegally.

Bitmex took Bitcoin to 0 again, this time though it did not crash the rest of the market, rather Bitmex just went offline. I was scared, but then I realized, Bitcoin has matured, Bitmex no longer dictates the market price of Bitcoin. Is this the decoupling we have been waiting for?

The Trade

As we discussed on Whisky & Wicks last night, I stand with my original call, my bet here is short. I hope I am wrong, but that is what I see, my short hedges my spot position.

If in doubt I would just hold spot Bitcoin, when this thing takes off, it is going to take off and you won’t be able to catch it.

I would like to see a wick to 6800/7200, a refuel and a mega pump to follow.

Again the global and overall market situation is literally what Bitcoin was created for. Don’t be shy, start staking now.

Hope you all enjoyed this don’t forget to follow me TheBitcoinaire and MineDigital on twitter and medium to stay updated on The FUD and Whisky & Wicks. Don’t be a sheep and pay a premium, use Mine Digital for the best rates in Australia guaranteed. Mine Digital also has insured custody so don’t worry about your funds.

Please note this is not intended as financial advice. Always do your own research. The writer holds (and is biased towards) Bitcoin. The writer’s thoughts are his own and do not reflect those of Mine Digital.

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