Its a well crafted ponzi scheme.Originally Posted by Amanda
People who got into it early made a ton of money, but you wont.
Avoid.
Don't trust people who flaunt their wealth (Richard Heart), they are almost always bad people. You are their exit liquidity.
I recommend you accumulate cash until the risk asset markets stop acting crazy. It's likely Gold outperforms Bitcoin in 2022 Q1-Q2, but build a large cash position.
Q3 2022 may be bullish after that.
Should be 30 Million Monero mined in 100 years.
Currently Bitcoin has a higher inflation rate than Monero, but that decreases/flips over many years.
You guys will hopefully understand why I'm so bullish on Monero and privacy coins in the long run, but it's hard to predict price action for me since there's so many factors.
If you have nothing DCA (Dollar Cost Averaging) might be a smart play, but understand Bitcoin can go down to $25K very realistically in the coming months.... OR NOT. I don't know!
Bitcoin is basically stuck in a range between $30K and $60K with deviations below and above briefly. Institutions and rich people are playing games so they can dump on the market when Bitcoin its $200K+.
The Stock Market is currently imploding and most risk assets other than Gold/Silver are getting destroyed.
Monero has performed much better than many other cryptos during the down trend though, and adoption is on the uptrend.
Smart move by Russia?
Russia set for complete ban on cryptocurrencies
20 Jan, 2022 12:25
The move would see crypto transactions banned in the world’s largest country
Russia set for complete ban on cryptocurrencies
The Bank of Russia has unveiled proposals that would see the sale, mining and circulation of cryptocurrencies banned as part of a radical move that finance chiefs say would protect the economy from the risks associated with digital currencies.
In a statement issued on Thursday, the Central Bank argued that “the status of the Russian ruble, which is not a reserve currency, does not allow Russia to take a soft approach or ignore the growing risks.”
In the view of officials, “additional measures are advisable.”The regulator proposed a tranche of restrictions that it said would “minimize the threats associated with the spread of cryptocurrencies,” including banning transactions from the Russian market, prohibiting digital denominations from being issued, and preventing financial institutions from investing in them.
In addition, the mining of cryptocurrencies would be banned under the proposed rule change, as would the ability for investors to cash out. Those falling foul of the laws could face prosecution.
In November, the bank reported that around $5 billion worth of crypto is traded in Russia each year, making the country one of the biggest players in the emerging market worldwide. Officials noted that Russia was second only to Turkey in terms of users visiting the Binance cryptocurrency exchange online.
In addition, the country ranked third, behind the US and Kazakhstan, in bitcoin mining worldwide. Bloomberg reported on Thursday that the Central Bank had been contacted by the Federal Security Service (FSB) over alleged concerns that cryptocurrency was being used to fund media outlets and political organizations designated ‘foreign agents’ over links to cash from overseas.
READ MORE: Country turns to nuclear as crypto mining causes electricity shortage
According to two anonymous sources, the security agency recommended a complete shutdown of crypto operations in Russia, in accordance with the recommendations the bank later published.
Besides crypto’s purported effect on financial markets, the bank also referenced concerns about the currency’s impact on the environment in its decision, claiming that its spread could negatively impact efforts to adopt sustainable energy systems. In 2021, analysis showed that bitcoin uses more electricity annually than the nation of Finland as part of its mining process.
China made headlines last year when it banned cryptocurrency in a series of crackdowns, first prohibiting financial institutions from engaging in crypto transactions, then banning domestic mining, and finally outlawing the technology outright in September. The government said that it was worried about the currency’s environmental effects, and that it was being used for fraud and money laundering, given it can be traded anonymously and outside state financial systems. The country had previously been the most popular location for bitcoin mining, but it was replaced by the US after the prohibition.
Nine countries, including China, have banned cryptocurrency completely, and another 42 have instituted restrictions making it extremely difficult to use. The number of countries and jurisdictions that have banned crypto, either completely or implicitly, has more than doubled since 2018.
https://www.rt.com/russia/546628-mos...ptocurrencies/
DON'T TAKE THE VACCINE!
THE SHIT HAS HIT THE FAN!
Bitcoin, Ethereum Tumble Below Key Levels After Russian Crypto Ban, US Tech Wreck
BY TYLER DURDEN
THURSDAY, JAN 20, 2022 - 09:15 PM
As we detailed earlier, the Central Bank of Russia issued a report today calling for a blanket ban on domestic cryptocurrency trading and mining.
The report titled "Cryptocurrencies: Trends, risks, measures" compares cryptocurrencies to a Ponzi scheme and calls for a complete ban on their use throughout Russia. The authors claim that cryptocurrencies are highly volatile in nature and are being used as a tool for illegal activities. The report also warned that crypto could pose a risk to financial sovereignty and could aid people in taking money out of the national economy. The report read:
“Potential financial stability risks associated with cryptocurrencies are much higher for emerging markets, including Russia.”
The Russian central bank demanded a complete ban on over-the-counter (OTC) trading desks, crypto exchanges as well as peer-to-peer exchanges.
At first, cryptos seemed to shrug off the ban, rallying into and beyond the US equity market open but once US tech stocks started to take a beating, cryptos began to weaken and have accelerated as Asian markets open this evening...
This downswing took Bitcoin back below the $40,000 Maginot Line...
And Ethereum back below $3,000...
Notably, Bitcoin's correlation with tech stocks is soaring once again...
Interestingly, as Russia moves to ban crypto, Bloomberg's Vincent Cignarella points out that the Biden administration’s threat to block Russian banks’ access to dollars might have carried weight in the past, but in these days of alternative cryptocurrencies, it’s unlikely to work.
Dollar sanctions may prove all but moot - and Bitcoin could rally significantly - if U.S. officials were to follow through with their dollar threat, as the token offers Russia payment options not available in the past.
Cignarella notes that bitcoin appears to be in the process of forming a similar pattern seen last June. In completing a third dominant wave, one should expect a small bounce, wave 4 and then a reversion lower, wave 5, to complete -- which would signal the end of the current selloff.
It took about a month from last May to June for this to happen. Once complete, Bitcoin entered wave A, the first wave of a reversal. In this case it was a reversal higher, which many mistake as only a minor correction to the previous trend. If the pattern follows last summer, inspired by Russia looking for alternative methods of payments, the rally that could follow would potentially take Bitcoin above previous record highs north of $70,000. All a bit of a what-if scenario no doubt, but a what, and an if, that are a reasonable outcome.
On the other side of the ledger, CoinTelegraph reports that even though Bitcoin is said to be correlated to traditional markets, BTC derivatives traders were not expecting sub-$44,000 prices, according to the Jan. 21 options expiry. Friday’s $590 million open interest will allow bears to score up to $82 million if BTC trades below $41,000 during the expiry.
Here are the four most likely scenarios for Jan. 21's $590 million options expiry. The imbalance favoring each side represents the theoretical profit. In other words, depending on the expiry price, the active quantity of call (buy) and put (sell) contracts varies:
Between $40,000 and $41,000: 30 calls vs. 3,320 puts. The net result is $132 million favoring the put (bear) options.
Between $41,000 and $42,000: 170 calls vs. 2,180 puts. The net result is $82 million favoring the put (bear) instruments.
Between $42,000 and $44,000: 1,480 calls vs. 1,130 puts. The net result is balanced between call and put options.
Between $44,000 and $45,000: 2,980 calls vs. 630 puts. The net result favors call (bull) instruments by $103 million.
This crude estimate considers put options being used in bearish bets and call options exclusively in neutral-to-bullish trades. However, this oversimplification disregards more complex investment strategies.
Bulls need $44,000 to bag a $103 million profit.
Finally, data released by crypto platform Voyager Digital indicates that nearly two out of three Americans are bullish on crypto, believing it will gain value in 2022.
https://www.zerohedge.com/crypto/bit...-us-tech-wreck
DON'T TAKE THE VACCINE!
THE SHIT HAS HIT THE FAN!
Electronic Gold is Money, actual metal you own is on deposit in your account. Transactions are deducted from your deposit.
The only thing declared necessary in the Constitution & Bill of Rights is the #2A Militia of the several States.
“A well regulated militia being necessary to the security of a freeState”
https://ConstitutionalMilitia.org
Any day could be an incredible short squeeze on monero
https://old.reddit.com/r/Monero/comm...ted_in_kucoin/
Be careful on xmr.
Here’s the xmr:btc ratio. Bearish pattern and weekly 9 just printed:
What's the latest on Monero?
I just got this in my email:
A new cryptocurrency was introduced in 2014 that would change the entire landscape of the industry.
Monero.
While Bitcoin produced the latest and greatest digital global payment network and value transfer system in history…
Monero became the single most anonymous and secure value transfer network ever invented.
And if you’re worried about central bank digital currencies (CBDCs) from tracking and tracing all of your transactions, digital ID systems following you wherever you go, and social credit scores punishing you for your economic behavior…
Then you NEED to know about Monero and how to use it.
Monero includes a range of complicated features (that you don’t need to know about to make the best use of this tech) that obscures senders, amounts, and recipients.
Plus, because of the way the system was built, ordinary people can run the Monero network on their computers all over the world, strengthening the security and efficiency of the system.
It’s no wonder it’s the most popular cryptocurrency for confidential transactions.
Monero strives to provide users with complete control over their privacy, ensuring that no one can monitor payments.
Monero’s goal is to provide you with total financial autonomy.
And the community behind Monero is extremely robust, which is the clearest sign that it’s here to stay.
The best part?
You can acquire Monero in just minutes from right now and use it to buy and sell goods and services with virtually anyone in the world with total privacy and anonymity.
Like Bitcoin, it’s not difficult to use at all.
If you can make payments with a credit card or an ACH transfer, then you can easily use Bitcoin and Monero.
But it’s Monero that offers the most potential for concealing your financial activity.
And as I always say, this isn’t about doing illegal things.
This is about protecting your right to privacy.
Just as cash allows you 10x the amount of privacy over using a debit or credit card.
Monero offers you 100x the privacy of either of them.
And when the government insists on spying on all of your activity, they’ve already made you a de facto criminal in their eyes.
Your liberty is directly tied to your privacy.
Governments and central banks want to steal your privacy completely … because they want to steal your liberty entirely.
Monero helps retain your privacy rights.
Want to learn more?
Then sign up for either of the last LIVE sessions of Unlock Your Financial Sovereignty:
https://livefree.academy/op/unlock-your-financial-sovereignty-webinar/
The next sessions will be on September 19th and 21st.
It’s completely FREE to join.
I’m going to show you why Bitcoin is the most important tool for financial sovereignty you’re not using.
And give you more insights into Monero and its ability to restore your financial autonomy.
Then I’m going to give you a 4-part framework for IMMEDIATELY acquiring and using Bitcoin and Monero by the end of the webinar.
Now, you don’t have to show up LIVE. If you sign up, then you’ll get a free limited-time replay.
However…
I’m giving away FREE Bitcoin to certain lucky attendees who stay until the very end of the webinar.
Sign up for free here:
https://livefree.academy/op/unlock-your-financial-sovereignty-webinar/
Then choose to attend LIVE on either September 19th or 21st.
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