Show Idle (>14 d.) Chans
← 2022-06-12 | 2022-06-14 → ↓
awt[asciilifeform|signpost|billymg]: First time in a hot air balloon today. Should be fun.
busybot[signpost|asciilifeform]: Current BTC price in USD: $23732.79
awt[asciilifeform|signpost|billymg]: http://logs.bitdash.io/pest/2022-06-13#1006744 << some other defi scheme claiming to provide "yield" is collapsing - called Celsius. Reportedly they own 150k btc.
bitbot: Logged on 2022-06-13 02:44:13 asciilifeform: signpost: any particular trigger for this lul ?
shinohai[asciilifeform|signpost]: lol awt just read that "Binance is suspending withdraws of celsius".
asciilifeform: lol, waterfall cranked 'to eleven'; reich ~really~ wants to discourage plebes from inflation-sheltering in btc, noshit
asciilifeform: expect moar, naturally, 'popped' goxes and 'mass liquidations' etc
asciilifeform oddly not sees the bot echo ^
billymg: http://logs.bitdash.io/pest/2022-06-13#1006768 << gaslighting to eleven. headlines all read "bitcoin falls due to inflation" "stocks down as traders worry about inflation"
bitbot: Logged on 2022-06-13 14:21:21 asciilifeform: lol, waterfall cranked 'to eleven'; reich ~really~ wants to discourage plebes from inflation-sheltering in btc, noshit
billymg: bot might need to be restarted, since restarted the blatta station it's connected to. i remember this being an issue in the past
billymg: where looks fine in the logs but doesn't echo to connected peers for whatever reason
billymg: !. uptime
bitbot: billymg: time since my last reconnect : 0d 20h 22m
billymg: !. version
bitbot: I am bot version 733831.
billymg: !. uptime
bitbot: billymg: time since my last reconnect : 0d 0h 0m
billymg: !. version
bitbot: I am bot version 734773.
billymg: http://logs.nosuchlabs.com/log/asciilifeform/2022-04-30#1099422 << bot now up-to-date in pest with this feature
PeterL[asciilifeform|signpost|billymg]: maybe I am confused, but shouldn't fears of inflation cause btc to go up?
billymg: PeterL: hence why i called it gaslighting, yes
billymg: the reich likes to define "inflation" as "prices go up", obfuscating the "why" behind "prices go up"
PeterL[asciilifeform|signpost|billymg]: inflation is a force of nature that cannot be controlled, certainly has no correlation to the printing presses they are running /sarc
billymg: so that the plebs who don't know any better can form a model in their head that says "prices go up means 'consumer sentiment' down means investments go down" and it sorta makes sense on the surface
billymg: when in reality, the pump was from inflation (printing) and the crash is due to their curbing of inflation (slowing down the printing). but the way they report the CPI pleb thinks "inflation" only started in late 2021 /early 2022
bitbot: Logged on 2022-06-13 02:46:33 asciilifeform: was 'red hot' for yr+ neh
billymg: "why do you think your house doubled in USD terms at the beginning of 2021?" "dunno, hot real estate market i guess"
shinohai[asciilifeform]: But muh $1000 stimulus checks
billymg: "why are gas and groceries going up" "putin caused inflation!"
PeterL[signpost|asciilifeform|billymg]: I've heard some people say the response to inflation should be to issue more stimulus checks "to help the little guys"
billymg: all to prevent pleb from every coming up with correct working model
bitbot: (asciilifeform) 2022-04-15 asciilifeform: sometimes working model comes w/ tangible bonuses (e.g. folx who went long on btc in 2010s, instead of paying into pension fund lulz), but not always
billymg: ever*
billymg: PeterL: lol
shinohai[asciilifeform|signpost] quite astonished no clamoring for "UBI" yet ....
billymg: exactly, complete inversion of reality
PeterL[asciilifeform|billymg|signpost]: well, obviously, gas prices are going up because "Biden did that" - or because Russia invaded Ukraine, depending on who you ask (although some people say both, Trump would have apparently kept Russia out of Ukraine)
billymg: shinohai: UBI to help inflation!
PeterL[signpost|asciilifeform|billymg]: I think they just changed the name from UBI because it got some negative connotation somewhere, they are still trying to come up with a name everybody likes
shinohai[asciilifeform|signpost]: Print more to pay for monthly netflix bill and doritos/mt dew
PeterL[asciilifeform|signpost|billymg]: those greedy corporations are at fault, if they didn't raise the prices on everything then we wouldn't be having inflation
billymg: lol when i load this page the price briefly says $11847 before switching to the current exch rate: https://bitcoinwisdom.io/markets/gdax/btcusd
billymg: perhaps insider leak?
bitbot: Logged on 2022-06-13 15:39:48 PeterL[asciilifeform|signpost|billymg]: maybe I am confused, but shouldn't fears of inflation cause btc to go up?
phf[asciilifeform]: $ticker btc usd
busybot[asciilifeform]: Current BTC price in USD: $23544.74
signpost: http://logs.bitdash.io/pest/2022-06-13#1006786 << not if much of what drove the last rally was paper leverage and bullshit.
bitbot: Logged on 2022-06-13 15:39:48 PeterL[asciilifeform|signpost|billymg]: maybe I am confused, but shouldn't fears of inflation cause btc to go up?
asciilifeform: some unknown % of the exch rate ( possibly ~all gains since '17 ) consists of gox bunkum
signpost: on the longest time scale, yes, but that doesn't mean that a bunch of US banks going tits-up again TBTF style wont hurt the goxrate near-term.
signpost: see also: saylor's gigantic leveraged BTC position.
signpost[asciilifeform]: I hope that explodes too. fuck them all. I wasn't done buying.
asciilifeform: reich strategy of 'print fiatola, buy btc, give away at xx% discount' worx a++ because the goxes provide an 'amplifier' (the leveraged positions) and not all that much print req'd
asciilifeform: this, per asciilifeform's model, is why in '17 'legalized' goxes to begin with.
bitbot: (asciilifeform) 2022-01-19 asciilifeform: w/out goxing and usg.tolerated shitcoin proliferation, the exchrate of a 'banned like cocaine' btc would very likely track usd debasement monotonically and do to usd what usd did to sov ruble.
signpost: yep. later limiting btc to "accredited investors" would not surprise me.
asciilifeform: would be rather like 'limit mousetraps to accredited mice'
signpost: note that it would require demonstrating that one holds enough to be "accredited" to buy more.
signpost: anyway, hail satan, and good luck to everyone getting in at what is probably one of the last opportunities.
asciilifeform already for many yrs does not consider goxes any kinda reasonable place to buy btc -- for various obv. reasons
asciilifeform: tho iirc ( per shinohai's findings ) some still will send to 1xx
signpost: if you know where to move a few hundred k company store credits for btc all ears.
signpost: but yeah, I have had no problems with kraken, and know some folks that ended up there.
signpost: I expect that one to outlast coinbase
asciilifeform: near as can tell, hardly anyone is letting go of ~actual~ coin. if there were somehow a mechanism for separate price discovery of actual (vs goxtronic) coin, likely would reveal some surprises
signpost: what's actual coin if not coin that ends up at a 1-addy?
asciilifeform: that one, yes
signpost: kraken ceo at least seems ideologically palatable, but I admit he's one guy likely to be digested and shat by the empire.
signpost: in either case one transfers a bit of money, transacts, immediately moves btc out, repeat.
asciilifeform: gox operators divide into 'digested' and 'notyet'
signpost[asciilifeform]: $ticker btc usd
busybot[asciilifeform]: Current BTC price in USD: $21507.32
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