Yes Petey, of course you were. That's what happens when you say an asset is going to zero and then it goes x20 in a couple years. You aren't clever. Dumbest April Fools "joke" ever. Who's the fool now?
Peter Schiff sees Bitcoin as a threat to gold because people are running around calling it Gold 2.0. This is absolutely ridiculous sentiment from all sides. Bitcoin can only spike the price of precious metals. Do we really think that a bunch of Libertarian Anarchists are going to get crypto rich and then NOT use those funds to buy precious metals? Let's use the thinking parts of our brain, fam. Crypto people love gold. Number can only go up in the long run.
This is especially true when we consider that digital gold/silver markets are about to be DESTROYED. Once crypto takes over, the derivatives market is going to be exposed for the absolute fraud that it is. There is no such thing as digital gold/silver. These derivatives have been used to short and suppress the precious metals market for generations. After crypto obliterates them there's going to be massive supply shortage as the world realizes that PHYSICAL gold/silver are actually scarce and no one is going to be buying that digital bullshit. The pegs will be broken and prices will spike as the digital market crashes.
So Peter Schiff is actually just attacking himself by constantly attacking Bitcoin. Bitcoin and blockchain are the ABUNDANCE technology that are actually going to boost his dinosaur ass back into the new generation. Again, gold/silver will not be seen as investments in the future, but rather robust backups should there be massive failures in the new systems being built today.
Robust Redundancy: Crypto Compliments Gold & Silver
Perfectly Calm
We finally made it to April 1st: the best day to buy Bitcoin.
Even during a brutal 2018 bear market, April 1st was an incredible day to buy. The price spiked from $6800 to $9800 before crashing back to the $6500 baseline before the inevitable crash to the doubling curve at $3200 at the end of the year. So even in the worst-case scenario April 1 was still one of the best days to buy out of the year.
And that's no joke.
Go back in time for the last decade.
April 1 was a good day to buy every single year.
Number only go up in Q2.
BNB stronk
If there was ever a time to acquire a strong BNB position, this is it. This is Swarm Intelligence in the making. Look at how many CUB users are willing to sacrifice 156% APR just to have half of their stack in BNB rather than BUSD. It's insane.
Again, it's very clear that a lot of users still feel like they are stuck in the BUSD LP and want to move over to BNB but they can't because of the massive reduction in farm. We should be moving inflation over to the BNB farm to allow them to move over.
That being said perhaps we are perfectly good just the way we are. In order to account for the massive threat of impermanent losses CUB/BUSD LP providers need to be incentivized with a lot higher APR to make it worth it. Still, I'm skeptical, as the market wants what the market wants, and I think that even if we reduced the BUSD LP by x8 and pumped that into the BNB farm I don't think that the BUSD LP would actually lose that much APR... it would just more opportunity for liquidity providers to be in the farm that they want. Competition in BUSD would be further reduced... pushing the APR back up.
During a mega bubble year, BUSD is very much deadweight to this market. As the price of BNB goes up, what happens? CUB is worth more in the BNB pool than the BUSD pool. This means arbitragers will have to pump BUSD into the pool to extract cheap CUB and pump that CUB into BNB pool to even out the price. The bigger the BUSD pool is, the more deadweight it becomes as BNB skyrockets.
Funny thing about that is that CUB is killing it right now. Price is mooning pretty hard. The den rats are raking in phat gainz. CUB is outperforming BNB, which means what's actually happening is that users are buying CUB with BUSD and it's the BNB pool that needs to be arbitraged after the fact.
Also, a near 600% APR in the BUSD pool is a HUGE honeypot to further spike up the price. Money from the outside is going to look at that and enter the main pool because the return is so high. Looking at the numbers, it's almost certain that the value of CUB will keep going up.
We've already made it back to a $4.50 token price, but more importantly, with this many coins in circulation, we broken the $6M market cap. That's insane considering we spent years trying to build value on LEO, and now it looks like CUB is going to flip LEO in less than a month... lol. What?
Remember, every 5 weeks CUB prints another 1M coins. If we hold $4.50 for 5 weeks, the market cap will be over $10M. Crazy stuff: not to mention we've almost broken the $20M TVL unit-bias milestone. CUB is HOT HOT HOT with no signs of slowing down.
Looking at the chart, $6 might be a good place to take gains or put some money from the den into an LP. There should be some level of resistance there, but with this much buying pressure combined with the supply crunch who knows how long that glass ceiling will hold.
As Cub continues to moon, more and more users in the LP are panicking about impermanent losses. Many have abandoned BUSD entirely, which is why APR is so high. However, again, as stated before, that just creates a bigger honeypot for outside money to come in and spike the price some more. This snowball is starting to pick up speed.
At this point I'm looking more toward $10 CUB before I start worrying about resistance, and maybe not even then. We still have a lot of fundamental gains to make:
- Audits
- Bridge
- Kindoms
- Lending Dapp
- Networking with other BSC farms.
- Etc.
CUB den dominance is 48.4%
Already 1% higher than the last time I checked a few hours ago. At this point I'm honestly a little annoyed I didn't all in the den at $1.90 after I called the low perfectly. I'd be up so much money right now... lol. Eh whatever farming is fun. Let it ride.
2021 is 2017 on steroids
This is day one of Q2, and it's only going to get crazier from here. When we look at this bull run, what do we see? This is nothing like 2017. The market just keeps going up and every pullback gets bought back immediately with no time the rest. The mythical institutional adoption is here, and it does not disappoint.
Bitcoin Doubling Curve
| 2013 | 2014 | 2015 | 2016 | 2017 |
|---|---|---|---|---|
| $100 | $200 | $400 | $800 | $1600 |
| 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|
| $3200 | $6400 | $12800 | $25600 | $51200 |
Looking at the doubling curve baseline support metric, the 2017 bull run didn't even break away from the curve until JULY. Meanwhile, we've been broken away from the curve since October of the previous year. If this run really has enough momentum to make it to the end of the year, which I think it does, then this is going to be the biggest bull run in human history. I'm quite certain that Bitcoin will easily break $250k at the peak as I took toward the $400k mark before taking real gainz off the table.
Conclusion
Number go up. Buy some Bitcoin. BTC is still a good deal, as this is likely the spot we will crash to at the end of 2022. Don't let your friends and family get wrecked by the hype and FOMO of the peak. Everyone's going to be talking about BTC, crypto, DeFi, and NFTs at the end of the year. Get in while the getting is good.
Posted Using LeoFinance Beta
This is especially true for silver where the manipulation has been so blatant that nobody even batted an eye when Deutsche Bank admitted they’d been manipulating it.
When the precious metals derivatives market start to blow, central banks will desperately try to keep gold exploding but they don’t care about silver. They hodl gold, not silver.
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I agree. The vapor-silver EFT's have no backing. Yeah, they're in vaults... billions of oz of silver in vaults, trust us. Silver street price is already 20 - 30% higher than "spot" price. These numbers will continue to grow. Gold has been hoarded for 1000's of years, we'd be shocked if every bank vault opened up and flooded the market. Silver has been consumed in photography, electronics, medicine, etc. What if silver outperforms gold someday? Who knows?
Sweet! Big fan of copper too. Very useful metal!
2017 and 2021 aren't too dissimilar. We have both seen big corrections along the way. In 2017 it was often 40% whereas currently the biggest pull back was about 30%.
The differences are absolutely massive. Look at the charts. Look at the movements in 2016 compared to 2020. 2021 is just straight up. 2017 didn't go straight up until the very end of the bull run... at least the final 6 months of it.
In the time it took 2016 to go x3 we've gone x11, and everyone seems to think this is a comparable run... it's def not.
It's also an issue of timing. There are 30% retracements in 2017 that took 5 weeks. This time around those retracements take a single week to bottom out. Every dip is being bought back up instantly. That was not the case in 2017.
THIS. The vast majority of traditional financial markets are a fucking smoke and mirrors act and no one learned the lessons from the 2008 crash. Bankers are wankers!
AS for gold, here in Thailand, EVERYONE stashes gold and there are gold shops to buy and sell the stuff on every street corner, even in the smallest towns and villages. When the gold rush comes, Thailand will have the richest population in the world, I kid you not!
Have a great weekend!
At this point I really don't care about impermanent losses...at all. I just want to farm as many tokens as possible and I have no intend to sell any...even at 6$. Made that very same mistake more than once with other tokens. Not this time.
That's exactly the reason why I am farming in the CUB/BUSD farm. I agree we are in the middle of the bull run...but what if we're not? What happens if BTC takes a massive hit and crashes back to $40K...or lower? That would drive the price of alts down as well. What if we see a relatively big retracement both for CUB and BNB...people in that farm will lose big time...BUSD offers stability...everything can change in a blink of an eye in the crypto world...you know that. Just some random thoughts...
I am not suggesting that we'll go down from here...but better be safe than sorry :P
Posted Using LeoFinance Beta
Yep farming the BUSD pool is safe as hell.
Anything else is just greedy.
You see my response to Peter Schiff?
Posted Using LeoFinance Beta
Ha yeah I did see that.
God he's such a tool.
I think I agree with every last word you just wrote. lol Don't forget that we're burning at last check about 12-15% of the new Cub, right? And if/when LeoBridge comes out, that number could spike substantially higher. That would mean that although the market cap wouldn't go up as fast, the scarcity would become even greater.
Incidentally, while I'm thinking about it, where is that burned Cub coming from? Does it mean that the dens and farms aren't distributing as much because a portion of the 1 Cub per block is being burned? That would lower APR, correct? But again, make it more scarce....
Just wondering and you seem just the guy to know the answer. :-) Keep up the great posts. Always fun and interesting to read.
Posted Using LeoFinance Beta
1 CUB per block is always the inflation rate, but CUB is being extracted from the LPs by the vault an destroyed. Essentially if you have money in the LP some of your CUB is being bought and destroyed. Den is safe from buyers though.
by the way, why did you panic sell your cub some weeks ago? I could have told you that we would be at 4$+ again soon ;)
Can you really say I panic sold it when I really just rolled it backed into the LP farm for compound interest? nah...
can you explain very short what cub is?
I don't have much internet atm.. am kinda homeless
Cub is a DeFi yield farming token on Binance Smart Chain developed by Leo devs.
Hmm. Dunno..
If I get money again. I need more Hive again..
And Bitcoin ofc.
But thanks bro
Sounds like you're not really in a place to be gambling on super risky assets.
Stick to the Bitcorns.
Im in super shit position
Permanent pain, homeless, broke.. Since years..
Now im just trying to survive Corona in New nazi germany.
Oh boy. Looks like I need to update my meme yet again.
Posted Using LeoFinance Beta
Peter can sell that tweet for a pretty penny
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STOPCheck out the last post from @hivebuzz:
What a idiot. Hope his post gets bombarded by the crypto community.
It's destined to happen. If you don't hold it...
Do you remember how bearish you were on the bitcoin price Jan/Feb saying it would do worse than the previous cycles? I guess it's good that it exceeded all our expectations. I personally think the CUB price could retest the initial price of around $3.5 as a strong support before moving higher but it wouldn't last very long at that low level.
facts