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Title: Bitcoin On Fire: Approaching $14K
Source: [None]
URL Source: [None]
Published: Dec 6, 2017
Author: Me
Post Date: 2017-12-06 20:04:28 by Pinguinite
Keywords: None
Views: 1278
Comments: 12

I'm sure a pullback is due at some point, but this is surpassing my most optimistic expectations. It's gone up about 15% in 24 hours, which was already a price from which a retrace would have been normal and expected.

Next week, the CME is set to start trading "Bitcoin Futures" which are to be settled in cash, something I would equate to simply a betting house for what the real bitcoin price will be, and likely being implemented solely for the purpose of attempting to suppress the true bitcoin supply/demand price.

They might as well be "futures" trading on daily temperature highs for some random US city. It would be just as legitimate.

I am now wondering if we're witnessing now a global economic revolution against centrally issued fiat currency, something that couldn't happen with gold an silver due to the PTB's successful manipulation of those prices.

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Begin Trace Mode for Comment # 10.

#1. To: Pinguinite (#0)

What kind of cash is it settled in? thanks.

If everything is anonymous, how is it known to whom to send the cash?

Lod  posted on  2017-12-06   21:22:53 ET  Reply   Untrace   Trace   Private Reply  

ghostdogtxn  posted on  2017-12-06   21:31:55 ET  Reply   Untrace   Trace   Private Reply  

How can the IRS be raiding the exchanges if it is anonymous?

The CME -- Chicago Mercatile Exchange -- would not be anonymous. They have applied for and received permission from the relevant federal authority (the SEC) to do futures trading in bitcoin.

Pinguinite  posted on  2017-12-06   22:27:58 ET  Reply   Untrace   Trace   Private Reply  

ghostdogtxn  posted on  2017-12-06   22:31:16 ET  Reply   Untrace   Trace   Private Reply  

I had heard d that the IRS was demanding personal information on btc users from btc exchanges, whatever those are.

The IRS did go after an exchange in US jurisdiction for bitcoin xfer records. The exchange fought that and did win some concessions, only xferring info on people with more than $20 of transfers, and not turning over bitcoin addresses of users.

The IRS wants that for purpose of taxation, obviously.

But the IRS can only go after exchanges in US jurisdiction, and in those countries that they can compel to cooperate, and bitcoin crosses international lines with impunity.

Pinguinite  posted on  2017-12-06   22:45:38 ET  Reply   Untrace   Trace   Private Reply  

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