Be ahead of the curve

[We'llBeDoneIn15Minutes]

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V bottoms exist but it is impossible to predict them reliably before they happen. They can only be seen after the fact. If somebody can say, “we are approaching a V bottom. It will happen within the next 3 weeks.” and be correct 70% of the time, I would sign up for their newsletter. Are we at a v bottom now? Who knows? So knowing chart patterns is not useful.

But you're actually using prior chart patterns to come to your conclusion if you think about it... 🤔

You're saying guessing a V bottom while an asset is crashing is next to impossible (....based on prior chart history) and not worth attempting.

See, you're an amateur chartist and didn't even know it 🤣

 

[nimbus]

But you're actually using prior chart patterns to come to your conclusion if you think about it... 🤔

You're saying guessing a V bottom while an asset is crashing is next to impossible (....based on prior chart history) and not worth attempting.

See, you're an amateur chartist and didn't even know it 🤣

I just dca. I do believe the market generally goes up with time, so maybe in that sense, I am a chartist.

 

[RadOncDoc21]

Sometimes if I stare at a stock graph long enough, I can make it move up or down.

 

[Mman]

First, I've put very little interest in formulas, moving averages etc. I do believe those are easy idiot methods sold to people who want to get rich quick that wouldn't know where to start with an x and y axis. So let's get that out of the way.

But as far as occasionally seeing high probability preductive chart patterns, can we at least agree that that is impossible to measure by "academic research"? Who are they measuring? It's incredibly subjective. If they study myself and over 99% of others research would conclude the between the legs windmill dunk is extremely difficult and should therefore never be attempted. And Dominique Wilkins or Zach Levine would laugh at that.

What set you off this time was the simply statement that I find V bottoms after a momentum collapse to be less common than retesting that bottom, and often retesting a number of times not just once. What is so egregious about that? Are you saying V bottoms don't exist? Obviously they do. Are you then saying they occur more often, or about the same, as anything else? Because once we agree that there is such a thing as rapidly down and then right back up ("V" bottom) then there obviously is an answer to: Is it less common, of equal occurrence, or more common.

here's the thing, what I am saying explicitly is that you are gaining ZERO predictive usefulness from it. None. It only works in hindsight which is useless for investing.

You can go ooh look at that V bottom or retesting the bottom or whatever, but it doesn't help you invest. It doesn't generate excess return. Which makes it useless. For any asset that will appreciate in price, it's your time in the market that matters most. People whine about falling knives when something continues to drop. They don't realize that falling knife was often the best price they could have ever gotten from here to eternity, forever dulling their returns.

 

[twospadz]

Two weeks later it's worth 360 million. Hope no one bought.

My good friend is a software engineer with the skills to work at any FANG company. He creates his own ****coins for fun. He made dogegrow which was a parody of Evergrow. He said "the smart contract code was basically identical except using Doge pegged token". I showed him that video about Evergrow and he laughed at how they are marketing themselves as a metaverse token.

Every coin dropped in the crypto market. The stock market dropped too. So its a macro economic shift. There are two big reasons why evergrow dropped though. First, the coin, BNB, that Evergrow is backed by in its smart contract halved in value. To understand this, say if you own a currency backed by the dollar 1:1. If the dollar becomes only worth 50 cents, well guess what, your own currency is now worth 50 cents too. So that is what happened with Evergrow, it is a part of the BNB smart chain.

The second reason is they pushed back the release of Crator to add more features. All of the utilities will still be launched this and I haven't sold a coin. In fact, Im getting residual income still by just holding the coin. Ive earned 6200 dollars in Binance smart chain dollars since October. Once the utilities launch, I expect higher residuals.

This is the year that cryptos that generate money and provide utilities will flourish. Yes, cryptos that have strong fundamentals. In my opinion, the top seats in the crypto are for the taking this year. Evergrow will be one of them.

 

[GassYous]

Every coin dropped in the crypto market. The stock market dropped too. So its a macro economic shift. There are two big reasons why evergrow dropped though. First, the coin, BNB, that Evergrow is backed by in its smart contract halved in value. To understand this, say if you own a currency backed by the dollar 1:1. If the dollar becomes only worth 50 cents, well guess what, your own currency is now worth 50 cents too. So that is what happened with Evergrow, it is a part of the BNB smart chain.

The second reason is they pushed back the release of Crator to add more features. All of the utilities will still be launched this and I haven't sold a coin. In fact, Im getting residual income still by just holding the coin. Ive earned 6200 dollars in Binance smart chain dollars since October. Once the utilities launch, I expect higher residuals.

This is the year that cryptos that generate money and provide utilities will flourish. Yes, cryptos that have strong fundamentals. In my opinion, the top seats in the crypto are for the taking this year. Evergrow will be one of them.

What strong fundamentals do they have?

 

[IMGASMD]

What strong fundamentals do they have?

It’s backed by bnb and somehow is related to the value of the dollar. And it’s going to pop, this year. Evergrow is on the top of my pick, too.

Didn’t you hear what @twospadz said?

 

[chessknt]

What strong fundamentals do they have?

It is going to moon because of Crator. A platform that brings together the audience for amateur porn, crypto, and Blippi all in one magical mooning place.

 

[mentos]

Every coin dropped in the crypto market. The stock market dropped too. So its a macro economic shift. There are two big reasons why evergrow dropped though. First, the coin, BNB, that Evergrow is backed by in its smart contract halved in value. To understand this, say if you own a currency backed by the dollar 1:1. If the dollar becomes only worth 50 cents, well guess what, your own currency is now worth 50 cents too. So that is what happened with Evergrow, it is a part of the BNB smart chain.

The second reason is they pushed back the release of Crator to add more features. All of the utilities will still be launched this and I haven't sold a coin. In fact, Im getting residual income still by just holding the coin. Ive earned 6200 dollars in Binance smart chain dollars since October. Once the utilities launch, I expect higher residuals.

This is the year that cryptos that generate money and provide utilities will flourish. Yes, cryptos that have strong fundamentals. In my opinion, the top seats in the crypto are for the taking this year. Evergrow will be one of them.

The source code for Evergrow is literally identical to AdaCash except you get rewarded with BNB instead of ADA. Look at the code yourself or show it to a software engineer.

BNB is down way less Evergrow, why not just buy BNB instead?

 

[nimbus]

The source code for Evergrow is literally identical to AdaCash except you get rewarded with BNB instead of ADA. Look at the code yourself or show it to a software engineer.

BNB is down way less Evergrow, why not just buy BNB instead?

Buy low?

 

[Mman]

It is going to moon because of Crator. A platform that brings together the audience for amateur porn, crypto, and Blippi all in one magical mooning place.

is Ryan Toy Reviews on there in some way?

 

[nimbus]

is Ryan Toy Reviews on there in some way?

I think that’s what they mean by paradigm shift. Stuff that used to be considered a joke like porn, crypto, social media, weed, etc are all big businesses now. We have a close family friend who’s 22yo son made $500k last year making silly TikTok videos. And he did what all 22yo’s with a lot of money would do…he bought an Audi R8, a $20k Savannah cat and some BTC too.

 

[GassYous]

I think that’s what they mean by paradigm shift. Stuff that used to be considered a joke like porn, crypto, social media, weed, etc are all big businesses now. We have a close family friend who’s 22yo son made $500k last year making silly TikTok videos. And he did what all 22yo’s with a lot of money would do…he bought an Audi R8, a $20k Savannah cat and some BTC too.

I bet he regrets the btc

 

[Mman]

I think that’s what they mean by paradigm shift. Stuff that used to be considered a joke like porn, crypto, social media, weed, etc are all big businesses now.

to be fair to porn and weed, they were always big business, just illicit, but their markets have expanded

 

[IMGASMD]

to be fair to porn and weed, they were always big business, just illicit, but their markets have expanded

Never was into weed. Don’t have the goods to be in porn. Any other upcoming illicit market that you think will boom soon?

 

[GassYous]

Never was into weed. Don’t have the goods to be in porn. Any other upcoming illicit market that you think will boom soon?

Illegal downloads as everyone gets tired of having 7 different subscriptions and decide to torrent things again

 

[MirrorTodd]

Illegal downloads as everyone gets tired of having 7 different subscriptions and decide to torrent things again

Netflix is learning. They only increased the price 50 cents this time.

 

[IMGASMD]

Illegal downloads as everyone gets tired of having 7 different subscriptions and decide to torrent things again

Just started using Google tv…. At least it’s smart enough to look for the show/movie I want to watch…. Was getting tired to go in and out of apps to find the show. Downside is Google now has more of my info.

Roku/fire tv can probably do it too. Never got it to work really. Too chicken to really use internet TV, and not sure of reliability. So maintaining 4 or 5 (not even sure) subscriptions currently.

 

[GravelRider]

Illegal downloads as everyone gets tired of having 7 different subscriptions and decide to torrent things again

They’ll come up with a service that contracts with different content providers and packages them up for you. You’ll have one account that manages this. The service will get a trendy new name…maybe something like Cable.

 

[MirrorTodd]

They’ll come up with a service that contracts with different content providers and packages them up for you. You’ll have one account that manages this. The service will get a trendy new name…maybe something like Cable.

lol that sounds like Cable with extra steps!

 

[We'llBeDoneIn15Minutes]

Downside is Google now has more of my info.

I know exactly what you mean. I'm an Android user. Sometimes I'll just daydream about, say, getting away with robbing banks, and then I'll go look on my Google News Feed. The first article will be how robbing banks isn't as easy as it appears and will then detail the prison life of white collar professionals gone bad and their need to join the prison aryan gang to avoid being the communal inmate sex toy. In a full sweat now the article concludes, stop day dreaming about the easy life and get back to your own miserable stale life.

I really should consider dropping Google.

 

[DrZzZz]

They’ll come up with a service that contracts with different content providers and packages them up for you. You’ll have one account that manages this. The service will get a trendy new name…maybe something like Cable.

There's an app (at least on Android) called Reelgood. You put in what streaming services you have and you can see all the stuff available to you on those services. Makes recommendations based on what else you tell it you've watched or are watching, and ranked on their simple dislike-like-love ranking system. It'll send you alerts when a movie or new episode of a show you're tracking is available too.

 

[twospadz]

The source code for Evergrow is literally identical to AdaCash except you get rewarded with BNB instead of ADA. Look at the code yourself or show it to a software engineer.

BNB is down way less Evergrow, why not just buy BNB instead?

Its not about the contract source code. That is not what makes it special. Its Evergrow plan to build multiple utilities to generate volume which it will use to buy back and and burn and its leadership. ADAcash is honestly just a Ponzi. Evergrow will generate real world value.

 

[pgg]

I think that’s what they mean by paradigm shift. Stuff that used to be considered a joke like porn, crypto, social media, weed, etc are all big businesses now. We have a close family friend who’s 22yo son made $500k last year making silly TikTok videos. And he did what all 22yo’s with a lot of money would do…he bought an Audi R8, a $20k Savannah cat and some BTC too.

Those cats ARE pretty cool.

The real question is ... did he pay estimated taxes, or is he 90 days away from owing $200K to the IRS and his state tax man?

 

[chessknt]

Those cats ARE pretty cool.

The real question is ... did he pay estimated taxes, or is he 90 days away from owing $200K to the IRS and his state tax man?

Oh I wouldn’t worry too much about that. The systematic defunding of the irs has rendered them unable to complete even their most basic tasks since they are still processing documents and paper returns from last year. Tracking crypto tax evasion and earnings from a Chinese internet company are going to be far beyond them for a long time.

 

[nimbus]

Oh I wouldn’t worry too much about that. The systematic defunding of the irs has rendered them unable to complete even their most basic tasks since they are still processing documents and paper returns from last year. Tracking crypto tax evasion and earnings from a Chinese internet company are going to be far beyond them for a long time.

As long as you get the green check marks on TurboTax, you’re probably good to go.

 

[Neopolymath]

As long as you get the green check marks on TurboTax, you’re probably good to go.

Honestly, with the amount of money intuit puts toward lobbying that stuff there probably is some tacit agreement to not pursue action against people who use their product.

There are far crazier things going on in the world

 

[mentos]

Bottom is in?

 

[mdartclub]

This METAVERSE thing reminds an amazon movie I watched before: Virtual revolution. Basically the world is controlled by the big corps and politicians. Regular joes can either choose to be the connected or exile in slums. The connected receives some ubi, gets a place to sleep and some food, spends most of the time in VR. Incidentally, the name of the VR is VERSES.

The next step will be Matrix.

$$$? Just a coded illusion.

I'm so excited about the Metaverse! My friends and family think I'm crazy. But I think it has so much potential! The problem is we don't know which eventually win out... Decentraland? Axie Infinity? Sandbox? Something else...?

 

[GassYous]

I'm so excited about the Metaverse! My friends and family think I'm crazy. But I think it has so much potential! The problem is we don't know which eventually win out... Decentraland? Axie Infinity? Sandbox? Something else...?

You should reread what you just posted and ask yourself some serious questions

 

[mdartclub]

So initially I thought it was silly too. But then when I saw major companies like Adidas getting into the game I started taking it more seriously.

 

[Mman]

So initially I thought it was silly too. But then when I saw major companies like Adidas getting into the game I started taking it more seriously.

don't worry, they will all try to monetize it (and by that I mean take money from you)

 

[mdartclub]

don't worry, they will all try to monetize it (and by that I mean take money from you)

Currently some metaverse experiences are free. I'm not putting any of my own money into metaverse lands yet...

 

[Mman]

Currently some metaverse experiences are free. I'm not putting any of my own money into metaverse lands yet...

there are also freemium games that start out free. Companies aren't getting involved for funsies, they want your money.

 

[mentos]

I read Koinly is good for filing taxes. It calculates realized gains/losses using your transactions from your crypto exchanges via API (it only has access to transactions, not buying/selling funds) or csv file.

You then have the option of paying for a tax report which varies in price depending on how many transactions you've done. I'm not sure if it's necessary to pay for it since it gives your realized gains/losses for free.

It's also useful for viewing your unrealized gains/losses.

 

[Direct Laryngoscopy]

$FB $SNAP $SPOT . And some say BTC is too volatile.

 

[We'llBeDoneIn15Minutes]

$FB $SNAP $SPOT . And some say BTC is too volatile.

Definitely flirting with busting out of the current downtrend. Previous support becomes current resistance, so I won't declare the downtrend dead till I see a sustained break above it (see my finger painting artwork), but things do look better than they have for a while.

 

[We'llBeDoneIn15Minutes]

$FB $SNAP $SPOT . And some say BTC is too volatile.

If I was short I would definitely be concerned with that recent move (more fingerprinting).
But I'm not short so not particular worried haha.

 

[mentos]

Definitely flirting with busting out of the current downtrend. Previous support becomes current resistance, so I won't declare the downtrend dead till I see a sustained break above it (see my finger painting artwork), but things do look better than they have for a while.

View attachment 349668

Volume is abysmal. It's gonna drop back down. Typical Monday morning selloff IMO.

 

[nimbus]

Ted Cruz bought the dip 😂

Sen. Ted Cruz discloses a bitcoin purchase worth up to $50,000 — CNBC

The senator purchased up to $50,000 of the digital currency, according to a disclosure.

apple.news

 

[RadOncDoc21]

Ted Cruz bought the dip 😂

Sen. Ted Cruz discloses a bitcoin purchase worth up to $50,000 — CNBC

The senator purchased up to $50,000 of the digital currency, according to a disclosure.

apple.news

Out of all the arguments for Bitcoin, this is the one that has me sold on it the most.

 

[Mman]

Out of all the arguments for Bitcoin, this is the one that has me sold on it the most.

the man who's largest individual stock holdings are all oil and gas

 

[pgg]

No one's going to mention the $323M wormhole heist?

Crypto ... working as intended.

 

[JoelJoel84]

No one's going to mention the $323M wormhole heist?

Crypto ... working as intended.

Nor the fact that I stole Blade’s million dollar NFT??

 

[We'llBeDoneIn15Minutes]

Volume is abysmal. It's gonna drop back down. Typical Monday morning selloff IMO.

I wanted to look at volume to confirm if this move means anything, but have no money interest in this so didn't bother. Thanks for providing the info.

 

[Direct Laryngoscopy]

https://www.newswire.ca/news-relea...reum-to-its-corporate-treasury-851778842.html

TORONTO, Feb. 7, 2022 /CNW/ - KPMG in Canada has completed an allocation of cryptoassets to its corporate treasury, the firm's first direct investment in cryptoassets.

The allocation includes Bitcoin (BTC) and Ethereum (ETH), as well as carbon offsets to maintain a net-zero carbon transaction to deliver on the firm's stated environmental, social and governance (ESG) commitments.

"Cryptoassets are a maturing asset class," says Benjie Thomas, Canadian Managing Partner, Advisory Services, KPMG in Canada. "Investors such as hedge funds and family offices to large insurers and pension funds are increasingly gaining exposure to cryptoassets, and traditional financial services such as banks, financial advisors and brokerages are exploring offering products and services involving cryptoassets. This investment reflects our belief that institutional adoption of cryptoassets and blockchain technology will continue to grow and become a regular part of the asset mix," he added.

KPMG established a governance committee to provide oversight and approve the treasury allocation. The committee included stakeholders from Finance, Risk Management, Advisory, Audit and Tax, and it undertook and completed a rigorous risk assessment process that included a review of regulatory, reputational, and custodial risks. KPMG specialists also assessed the tax and accounting implications of the transaction.

The investment illustrates the firm's outlook on emerging technologies underpinned by blockchain.

"The cryptoasset industry continues to grow and mature and it needs to be considered by financial services and institutional investors," says Kareem Sadek, Advisory Partner, Cryptoassets and Blockchain Services co-leader, KPMG in Canada.

"We've invested in a strong cryptoassets practice and we will continue to enhance and build on our capabilities across Decentralized Finance (DeFi), Non-Fungible Tokens (NFTs) and the Metaverse, to name a few. We expect to see a lot of growth in these areas in the years to come," he added.

KPMG in Canada acquired Bitcoin and Ethereum on its balance sheet through Gemini Trust Company LLC's execution and custody services.

About KPMG in Canada

KPMG LLP, a limited liability partnership, is a full-service Audit, Tax and Advisory firm owned and operated by Canadians. For over 150 years, our professionals have provided consulting, accounting, auditing, and tax services to Canadians, inspiring confidence, empowering change, and driving innovation. Guided by our core values of Integrity, Excellence, Courage, Together, For Better, KPMG employs nearly 8,000 people in over 40 locations across Canada, serving private- and public-sector clients. KPMG is consistently ranked one of Canada's top employers and one of the best places to work in the country.

The firm is established under the laws of Ontario and is a member of KPMG's global organization of independent member firms affiliated with KPMG International, a private English company limited by guarantee. Each KPMG firm is a legally distinct and separate entity and describes itself as such. For more information, see home.kpmg/ca

SOURCE KPMG LLP

One of the largest accounting firms adding crypto assets to their corporate balance sheets. Starting in a jurisdiction outside of the US. Only a matter of time we see it in the US. We’re still early…….

 

[Shimmy8]

Bought more ETH and BTC Friday. Buy the dip!

 

[Direct Laryngoscopy]

https://blockworks.co/russia-moves-to-recognize-crypto-as-a-form-of-currency/


The Russian government and the country’s central bank have reached an agreement to draft legislation or amend existing laws recognizing crypto as a form of currency, according to a statement Tuesday.

The agreement is a significant reversal after the Bank of Russia last month proposed banning miners and several other crypto operations over concerns that they could endanger the country’s financial system.

News outlet Kommersant first reported the announcement on Tuesday. It is understood cryptos are to be classified as an “analogue of currencies” and not as financial digital assets. Legislation will reportedly be drawn up no later than Feb. 18.

Russia’s regulation will seek to integrate a mechanism for the circulation of digital currencies into the country’s financial system while ensuring control over credit institutions’ cash flows, a rough translation of an accompanying draft document reads.

“The establishment of rules for the circulation of cryptocurrencies and control measures will minimize the threat to the stability of the financial system and reduce the use of cryptocurrencies for illegal purposes since a complete ban on the segment of operations related to their circulation is impossible.”

Crypto’s use as currency will only be possible following proper identity checks via the country’s banking system or licensed intermediaries, while operations exceeding 600,000 rubles ($8,016) must be declared, according to the document.

Transacting outside those proposed legal parameters will be considered a criminal offense, and fines are expected to be introduced for the illegal acceptance of cryptos as a means of payment.

Officials also said the regulation would ensure the protection of citizens’ rights under a licensing regime aimed at cryptocurrency providers. Providers will need to have “financial airbags” in terms of liquidity and adequate capital.

“The complete absence of regulation of this industry, as well as the establishment of a ban, will lead to an increase in the share of the shadow economy, an increase in fraud cases and destabilization of the industry as a whole,” the document reads.

There are additional plans to introduce an “obligation” for market participants to educate Russia’s citizens regarding the risks associated with digital assets.

Several Russian regulators and lawmakers including the Ministry of Finance, the Federal Security Service, the Ministry of Internal Affairs, the Federal Tax Service and others were involved in the decision-making process.

“The implementation of the concept will ensure the creation of the necessary regulatory framework, will bring the digital currency industry out of the shadows and create the possibility of legal business activities,” the statement reads.





The 2nd country is just as important as the 1st

 

[chessknt]

Russia Moves to Recognize Crypto as a Form of Currency - Blockworks


The Russian government and the country’s central bank have reached an agreement to draft legislation or amend existing laws recognizing crypto as a form of currency, according to a statement Tuesday.

The agreement is a significant reversal after the Bank of Russia last month proposed banning miners and several other crypto operations over concerns that they could endanger the country’s financial system.

News outlet Kommersant first reported the announcement on Tuesday. It is understood cryptos are to be classified as an “analogue of currencies” and not as financial digital assets. Legislation will reportedly be drawn up no later than Feb. 18.

Russia’s regulation will seek to integrate a mechanism for the circulation of digital currencies into the country’s financial system while ensuring control over credit institutions’ cash flows, a rough translation of an accompanying draft document reads.

“The establishment of rules for the circulation of cryptocurrencies and control measures will minimize the threat to the stability of the financial system and reduce the use of cryptocurrencies for illegal purposes since a complete ban on the segment of operations related to their circulation is impossible.”

Crypto’s use as currency will only be possible following proper identity checks via the country’s banking system or licensed intermediaries, while operations exceeding 600,000 rubles ($8,016) must be declared, according to the document.

Transacting outside those proposed legal parameters will be considered a criminal offense, and fines are expected to be introduced for the illegal acceptance of cryptos as a means of payment.

Officials also said the regulation would ensure the protection of citizens’ rights under a licensing regime aimed at cryptocurrency providers. Providers will need to have “financial airbags” in terms of liquidity and adequate capital.

“The complete absence of regulation of this industry, as well as the establishment of a ban, will lead to an increase in the share of the shadow economy, an increase in fraud cases and destabilization of the industry as a whole,” the document reads.

There are additional plans to introduce an “obligation” for market participants to educate Russia’s citizens regarding the risks associated with digital assets.

Several Russian regulators and lawmakers including the Ministry of Finance, the Federal Security Service, the Ministry of Internal Affairs, the Federal Tax Service and others were involved in the decision-making process.

“The implementation of the concept will ensure the creation of the necessary regulatory framework, will bring the digital currency industry out of the shadows and create the possibility of legal business activities,” the statement reads.





The 2nd country is just as important as the 1st

Maybe the Russians see it as crucial to the downfall of the American economy and are hoping people think like you by putting out some pointless legislation to ‘legitimize’ it, further weakening the dollar. I highly doubt the Russians give a **** about any of the concepts underpinning crypto.

 

[Direct Laryngoscopy]

Maybe the Russians see it as crucial to the downfall of the American economy and are hoping people think like you by putting out some pointless legislation to ‘legitimize’ it, further weakening the dollar. I highly doubt the Russians give a **** about any of the concepts underpinning crypto.

I lie, you lie. Numbers don’t lie.