The largest transfer of wealth, how the retail are fooled to generate liquidity for the institutions
Here it is, the 14th 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 a lot of drama, not in crypto, in the real world, police being defunded and a new generation of retail traders to dumb to realize what’s happening, looking. forward to watching this. unfold.
The Newest Generation of Retail Traders
Last Whisky and Wicks, we spoke to institutional traders, I was trying to get a message across, not that the game is rigged rather trading is not easy. Trading requires a lot of patience, discipline and huge financial and time commitment. I also highlighted the reason most traders lose money is that there are many market participants highly incentivised to be. bad actors.
Could not have timed it better, let’s look at the. traditional markets, not crypto.
This is what caused Hertz to pump 890% in two weekshttps://t.co/JGP9MW0Wxq— BlockWorks Group (@BlockWorksGroup) June 9, 2020
A new generation is trading, and they all seem to be making a profit, I have never seen Warren Buffet being referred to as an idiot this much, not even when he said bitcoin is a scam.
There are many examples of this, not just Hertz, it’s like. bankruptcy is the new ICO. This is. where bad actors come in, platforms like robinhood encourage these traders to keep trading, but if these traders were smart in any. way or had a small understanding of how markets work they would understand what is happening.
We have millions of small traders longing dying stocks, while the large institutional traders sell-off into the pump, leaving the retail bag holding useless shares. Sounds familiar?
Yep, the same stuff that happens. in crypto is common in the real world. The statement “most retail traders lose” is too naive. It is actually the second most common narrative used by failed retail traders after: “trading is easy, join my group”. Trading is not easy not rigged, it is something that requires a lot of effort but if done correctly is very profitable. Watch put for the bad actors they are the dangerous part not. the game.
Someone Shot the Sherif
The police have. been this week’s hottest topic, do we need them?
The systematic racism and corruption embedded into our system is what caused the problem, not the few uneducated officers too dumb to realize what they are doing.
The official car of “defund the police” is this LAPD Lamborghini parked in a disabled spot pic.twitter.com/Jsr5Tyzdz2— Peter Miller (@peter_miller) June 9, 2020
I agree let’s defund the police, but then who takes over? Gangs?
I think it is important to note that the police perse are not the enemy, rather the system that has made them behave this way, I also think if the police where any smart they would realize the system they swore to serve and protect has turned it’s back on them. As working-class citizens they should drop the badge and join the rioters against this broken system and help build a better tomorrow.
While I hateHijacking a great cause, this guy got it right. Violence will never bring down the system, they have more guns. and more soldiers than we do. The only way to truly bring. them down is to take away their source of power, the magic numbers they use to manipulate and control us, take down the monetary system.
Cliche, I know, but Bitcoin fixes this, its time for a new era, where governments no longer control us through monetary policy. It’s time for the people to take the power back, it’s time for a new global financial system.
While we talk about broken systems, it’s a good segway into Binance and CZ’s latest shenanigans.
yo @cz_binance this is complete and utter bullshit — very few exchanges do so (nearly all the old chinese exchanges and some new ones do). It is far from the norm or “most” in this space. You are flat out lying here pic.twitter.com/u34fE8v6mv— BTCVIX (@BTCVIX) June 8, 2020
Yes he did, he claims most exchanges are fake except his.
“CoinMarketCap has adopted an iterative approach to improving its rankings. The newest criticism suggests that the aggregator’s journey toward more realistic rankings is still not finished.” Best keep iterating @CoinMarketCap 🤣 https://t.co/75oQXXjTPw— BitMEX (@BitMEXdotcom) June 8, 2020
This is the problem with centralization. When you allow one player to control the market you create collusion. CoinMarketCap can no longer be used efficiently, it has become a source of fake news to promote the finance agenda. Decentralization was the whole reason for this movement, it is what crypto was founded on, without it we. have nothing but junk bonds and fake internet money being pointlessly traded.
Craig Wright is Still a Loser
CSW is still. trying to claim he is satoshi, I can’t wait for this to be over, after the last fiasco he came up with a new excuse.
first he scams her into believing he’s Satoshi, then he sets her up to take the blame for submitting forged documents to a court, imagine that, his own wife, what a psychopath https://t.co/1wj3Y4LzgJ— dark pill (@DanDarkPill) June 9, 2020
I say it again CSW is a net negative to humanity. He must be removed.
Bitcoin Billionaires, The Movie
A movie is being made based on the book, Bitcoin Billionaires. This should be a nice one to watch, I find the twist very interesting, especially from a Winkelvoss Zuckerberg POV.
MOM IM GONNA BE IN THE MOVIEZ https://t.co/wLhDZrZMFK— Charlie Shrem (@CharlieShrem) June 9, 2020
Charlie Shrem is also in it and to be honest, he is a true Bitcoin Hero. Looking forward to more on this, but the book is definitely an interesting read.
Everyone Knows Bitcoin
We take knowing about Bitcoin for granted, the reality is many still do not understand it. To easily demonstrate this I share with you 1 picture.
We are retesting the key level again if we break its 12k. If we dont it’s back to $9200/$8800.
However this week I want to focus on Alts, there are great opportunities in Alts right now, VET has played very well for me, there are many more to look at. BAT, RVN, MATIC. Just to name a few. Find good setups and capitalize on them, take profit, do not bag hold, rinse, repeat.
Alts have been having a lot of action against BTC this week and I have been enjoying that to stack sats. DO NOT FOMO. Entry is key.
Hope you all enjoyed the update, follow me TheBitcoinaire and MineDigital on twitter and medium to stay updated on The FUD and Whisky & Wicks. For the best rates in Australia guaranteed use. Mine Digital. 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.