Give me Liberty, or give me Death! – Part 1

Yesterday I mentioned that I would probably have to say a few words about Trump’s attitude towards Bitcoin.

Trump’s recent Tweets have clearly shown where he stands on the topic of cryptocurrencies:

 

 

His pro-fiat bias is as obvious as it is expected: from a man who has great fiat wealth, I wouldn’t expect any less.

Of course his anti-crypto arguments are the typical drivel: he creates the “unlawful behaviour” strawman, which he then burns using the drug trade. It’s a classic logical fallacy. The internet is littered with pictures such as this one:

From https://www.foxnews.com/us/siblings-arrested-in-24-million-miami-marijuana-bust

 

 

News flash Cupcake – that’s not Bitcoin – that’s your good ol’ USD – you know, the same anonymous currency that drug lords have been stockpiling for decades:

From http://www.todby.com/2016/09/a-columbian-farmer-finds-drug-money.html

 

 

That particular barrel of Dollars is said to have once been Pablo Escobar’s. Speaking of Escobar and US Dollars:

“Escobar had so much cash coming in that his monthly bill for the rubber bands he used to hold the stacks of banknotes together was $2,500.”

“Escobar had so much money that he once burned $2 million in crisp banknotes just to keep his family warm when they were on the run.”

~ https://www.factinate.com/things/54-interesting-facts-organized-crime/

I could easily continue to pick fiat apart and show just how STUPID Trump’s tweets really are, but that’s been done before. I could also state the positive side of Trump Tweeting about Bitcoin, about how he is now lending legitimacy to crypto and showing that it is indeed a major player in the future of global finance; but that’s also not my objective today. I don’t want to re-invent the well or derail my own post, so instead I’m going to refer you to this Coindesk post: “What Trump’s Bitcoin Tweet Changes”, which I thoroughly enjoyed reading and which I mostly agree with.

No, today I want to talk about what Trump is standing against here: the liberty of his very own people.

“Give me your tired, your poor, Your huddled masses yearning to breathe free…”
~  A poem by Emma Lazarus on a plaque on the Statue of Liberty

Crypto IS Freedom. Crypto IS Liberty!

Crypto is the right to choose what money you want to use. Crypto is your way of saying “No thank you, I don’t want to be forced to enrich the rich at my own expense, I have the right to choose something else.” But Trump doesn’t like it, because it doesn’t make people like him rich, it doesn’t boost the US dollar – so he stands against it. Politicians generally care about only two things: money and power – even a non-standard politician like Trump is not immune to that.

But who am I? I’m just a random, anonymous internet guy. What do I know about politics? What do I know about true patriotism and what it means to fight for your country? Who am I to criticise the US president and say that he is being selfish, anti-liberty and unpatriotic? Well… I’m the best brain on the planet – but unfortunately a rather unknown one. So instead of using my own words, I’m going to borrow the words of others for the rest of this post. Let’s see what those a little more famous than I have to say on this topic:

Ruling by the Nazi playbook – Lessons taught by Joseph Goebbels

Bundesarchiv, Bild 183-1989-0821-502 / CC-BY-SA 3.0 ], via Wikimedia Commons

 

 

For those of you who may not know, Joseph Goebbels was an instrumental part of Hitler’s strategy. Goebbels was a Nazi who headed the “Reich Ministry of Public Enlightenment and Propaganda”  (German: Reichsministerium für Volksaufklärung und Propaganda) from its establishment in 1933 to its dissolution in 1945. Its purpose was to “centralise Nazi control of all aspects of German cultural and intellectual life.” (Wikipedia) Goebbels was obviously an evil, hateful and tyrannical fascist of the highest order, but he was no fool.

Goebbels was the original authority on propaganda, it was the method he chose to control the minds of the German public during and prior to World War II. Sadly, it seems as if history is doomed to repeat itself, as history always does.

It is common to hear politicians get called “fascists” or “Nazis”, you can see it in the media or social media every day. Perhaps if people realised just how close such comments are to the truth, then they might pay them more attention..

Let’s take a look at some of Goebbels’ many quotes on the subject, see if any of these sound familiar…

There was no point in seeking to convert the intellectuals. For intellectuals would never be converted and would anyway always yield to the stronger, and this will always be “the man in the street.” Arguments must therefore be crude, clear and forcible, and appeal to emotions and instincts, not the intellect. Truth was unimportant and entirely subordinate to tactics and psychology.

Goebbels said that you can just ignore those clever enough to see the truth, and rather appeal to the emotions of the less educated masses. After all, he also stated that:

…the rank and file are usually much more primitive than we imagine. Propaganda must therefore always be essentially simple and repetitious.

The goal of propaganda is to achieve total and lasting control of the population:

The essence of propaganda consists in winning people over to an idea so sincerely, so vitally, that in the end they succumb to it utterly and can never escape from it.

… so that the majority don’t even realise that they are being manipulated…

This is the secret of propaganda: Those who are to be persuaded by it should be completely immersed in the ideas of the propaganda, without ever noticing that they are being immersed in it.

…or worse still, they believe that they are free, yet they are not:

Propaganda works best when those who are being manipulated are confident they are acting on their own free will.

Goebbels knew that he had to win over the majority of the people in order for Hitler’s idea of a Nazi dictatorship to succeed:

Whoever can conquer the street will one day conquer the state, for every form of power politics and any dictatorship-run state has its roots in the street.

And once in control, he had to steer their thoughts and minds: (As I have told you many times in my own posts such as this one.)

Not every item of news should be published. Rather must those who control news policies endeavour to make every item of news serve a certain purpose.

He knew that people don’t care to interrogate information presented to them, because they are beings of emotion. Nothing has changed in this regard and it is how the fiat money which makes everybody poorer continues to rule the world today:

If you tell a lie long enough, it becomes the truth.

The English follow the principle that when one lies, it should be a big lie, and one should stick to it.

Goebbels also knew that Representative Democracies – such as those which most Western nations still use today – are easy to corrupt. Of course these days there are almost no good people left in politics at all – our Democracies have been completely hijacked by those who seek to control us for their own purposes:

We enter parliament in order to supply ourselves, in the arsenal of democracy, with its own weapons. If democracy is so stupid as to give us free tickets and salaries for this bear’s work, that is its affair. We do not come as friends, nor even as neutrals. We come as enemies. As the wolf bursts into the flock, so we come.

These days we can clearly see how, in the name of the sacred cow named “Democracy”, many of our once proud nations are decaying into socialism. Venezuela is also a Democracy. So is Zimbabwe. Remember that.

To be a socialist is to submit the I to the thou; socialism is sacrificing the individual to the whole.

Goebbels told us how, once in power, the evil entities of government would never relinquish that power willingly. Again, look at Venezuela and Zimbabwe.

If we have power, we’ll never give it up again unless we’re carried out of our offices as corpses

And while it wasn’t the major driver of his time, he knew that money is the nefarious driving force behind almost all the evils of the world.

The money pigs of capitalist democracy: Money has made slaves of us. Money is the curse of mankind. It smothers the seed of everything great and good. Every penny is sticky with sweat and blood.

Once he had succeeded in building the power which the Nazis required, Goebbels stated that:

We have made the Reich by propaganda

Further confirming that politicians will say whatever they need to to get what they want.

It is clear to me today that our so-called leaders are using Goebbels’ tactics to control the populations of our world. They may not wear swastikas on their arms, but they are fascist Nazis all the same!

BUT!

There IS a very good chance that crypto could bring their whole world tumbling down. They KNOW it and it’s why they are putting up so much resistance to it. It has caught them off guard and they haven’t managed to formulate a proper response to it. They missed the bus when it came to controlling it, and now it threatens their very power-base. It is for this reason that I strongly support and promote crypto. It is for this reason that I despise rubbish like Libra, XRP or JPM coin or other fake “cryptos” – those exist to serve bankers and large corporations – the people pulling the strings of the puppets.

There IS hope for our crypto-based future and if we stand by it we CAN defeat the current powers-that-be. Goebbels said it himself:

There will come a day, when all the lies will collapse under their own weight, and truth will again triumph.

It certainly happened to his evil regime – and history is ready to repeat itself…

I’m not done yet, far from it! That was only the “Goebbels part” of my argument. I have much more in store for you: many more great words said by men and woman a lot less evil than what Joseph Goebbels was!

I’ll be sharing those with you in Part 2, so stay tuned and hear what the good guys have to say!

Attribution: Featured Image (Statue of Liberty) by Ana Paula Nardini from Pexels

Tweets from https://twitter.com/realDonaldTrump

 

Yours in crypto

Bit Brain

“The secret to success: find out where people are going and get there first” 

~ Mark Twain

“Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful” 

~ Bit Brain

Bit Brain recommends:

Crypto Exchanges:





BTC – 11 July

This is a quick look at what BTC is up to today and what it might do in the next day or two.

 

I remind you that I post a steady stream of short crypto updates and suggestions on Twitter. As you will see, most of what I say today has already been said there some time ago. Twitter is the place to be if you want my real-time analysis of crypto price action.

Well the Libranauts are out in full swing again, once again claiming that Libra decisions have affected the price of Bitcoin. This is not just wrong, it’s stupid! Anybody with half an eyeball would have seen markets jumping all over the show yesterday: crypto, precious metals, forex. I’m SURE that the Fed discussing the future of interest rate cuts was not the real reason for the BTC dip!

Bitcoin:

 

Gold:

 

The S&P 500:

 

Even the Euro:

 

Clearly global finances are now only concerned about one thing: Mark Zuckerberg’s fake crypto. Honestly, this Libra hysteria is beyond belief! It brings out the worst in me: during my basic military training phase – many moons ago – we had an instructor who always used to threaten us with: “I’ll rip your arm off and hit you with the bloody side!”. If only I could catch a journalist in the act of writing such Libra rubbish, I would feel obliged to carry out that particular form of “behaviour correction”!

Rant complete.

As I was saying before I so rudely interrupted myself: I announce a lot of my crypto ideas on Twitter. This is what I thought yesterday when prices were sliding:

 

But I was wrong about support holding:

 

And that’s what I still think for now. Let’s see that on the charts:

I am expecting Bitcoin to find support at about $10900 – the base of the diagonal Fib levels. Since this dip is based on no fault of BTC’s, I expect that the dip will be bought rapidly as people realise this. It remains mind-boggling that investors continue to treat BTC like a regular asset (dumping it at the first sign of FUD), when it clearly plays according to different rules. Maybe one day they will learn… – but don’t hold your breath.

Because BTC was upwardly mobile prior to the dump, I expect it to rise fairly fast. probably straight back up to the 0.382 diagonal Fib resistance level which it was testing prior to the dip. That level is sitting above $13k and climbing.

 

Alternatively: the still shaky market (2018 taught people the meaning of “fear”!) might not have that much confidence, in which case BTC will pull out of the climb one level lower: somewhere near $12500.

 

I very much doubt that BTC will break the 0.0 Fib level and continue downwards, that would be against all the odds. Still, this is crypto, so let’s say there is a 1% chance that that can happen. Looking at this medium-term chart, it’s hard to imagine such a scenario in an asset which is so bullish at the moment: (though not nearly as bullish as what it may later become!)

 

A more likely alternative is that BTC – now being suppressed by FUD, breaks straight through the Fib level at around $13500 and climbs to the next higher level. We could be looking at $14400 BTC before the weekend…

 

Scenario weighting is as follows:

  • BTC hits support and climbs rapidly back to the 0.382 diagonal Fib ($13500ish) – 40%
  • BTC hits support and climbs rapidly back to the 0.236 diagonal Fib ($12500ish) – 30%
  • BTC hits support and climbs to the 0.5 diagonal Fib ($14300ish) – 15%
  • BTC breaks support and heads lower – 1%
  • Something else – 14%

Even though Libra isn’t to blame for this, blaming the Fed is hardly much better. Yes, it DID probably cause this dip, but it shouldn’t have. Sadly we still live in a fiat-centred wordl. I live for the day that crypto take over and that fiat events no longer mater to anyone. Hopefully I live to see that day.

 

Don’t listen to moronic journalists and “analysts”, listen to Bit Brian.

 

 

Yours in crypto

Bit Brain

All charts made by Bit Brain on TradingView

All Tweets from https://twitter.com/brain_bit

“The secret to success: find out where people are going and get there first” 

~ Mark Twain

“Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful” 

~ Bit Brain

Bit Brain recommends:

Crypto Exchanges:

? Shilling my Bags! ?

 

If you don’t know that, then you obviously don’t read my blog often enough, what’s wrong with you? ?

What I WILL do is to give you some amazing suggestions based on coins and tokens which I already hold. I’m about to do just that.

CargoX (CXO)

Ah yes! Still my favourite low market cap coin and still ridiculously cheap, CargoX has some more good news for us. Having already succeeded in launching their “Smart B/L” product, CargoX continued to work on their Blockchain Document Transaction System (BDTS). It’s more than just a big name. In their latest move, they have added a “Smart L/C” to the BDTS platform.

An LC is a “Letter of Credit”, a document which plays a vital role in global logistics systems. This little Wikipedia article explains them nicely: https://en.wikipedia.org/wiki/Letter_of_credit.

According to their monthly email, the Smart L/C has been developed, but still requires testing. Once completely tested and integrated, it and the Smart B/L (Bill of Lading) will enable CargoX to make paper documentation in logistics transactions a thing of the past. While the shipping industry that CargoX targets is still slow to embrace change, I believe that it’s just a matter of time before they realise the cost savings to be had by using this platform. I remain extremely bullish on CXO.

Perhaps, I’m not the only one realising this: Since mid-June, the volume of CXO has risen by approximately 3x. Better still: while it was often traded more on CoinTiger than on KuCoin, that relationship has now been completely reversed. KuCoin trades (specifically the CXO/ETH pair) now far outweigh CoinTiger trades. This means that the KuCoin CXO/ETH pair has actually grown in volume by a factor of about 9! (From around $10000/day to $90000/day.) With KuCoin being one of the most trustworthy exchanges out there (according to the recent “reported vs actual volumes” exchanges study by The TIE) this is very good news for CXO!

From https://www.coingecko.com/en/coins/cargox

 

Which brings us to…

 

KuCoin

My favourite exchange and the home of KuCoin Shares (KCS) is at it again. I can not believe how much good news is coming from this wonderful exchange!

Yesterday KuCoin launched the public beta of KuMEX, it’s new derivatives platform.

“KuMEX will firstly open the Bitcoin Perpetual Contract (XBTUSDM) which is quoted in USD and denominated in Bitcoin and offers up to 20 times leverage. The platform currently supports three types of order: limit order, market order and stop order. After the official release of KuMEX, the platform will use 50% of the net revenue from KuMEX for KCS Bonus distribution for KCS holders.” 

While I am strongly against derivatives trading of crypto, especially with leverage, I realise that not everybody thinks that way. This should be a popular platform that will contribute greatly to the exposure of KuCoin. From the quote above, we can also see that it should have massive benefit for KCS holders.

Of course ever since Binance announced that Binance.com would be shutting down US operations in September, crypto traders have been rushing to find other good exchanges. I immediately noticed the interest grow in Nash Exchange (NEX) and KuCoin. But as of late June, this suddenly really kicked into gear: KuCoin volume has skyrocketed!

From https://www.coingecko.com/en/exchanges/kucoin

 

But wait, I’m not done with KuCoin yet! They also implemented a new weekly temporary KCS token “Buy Back and Burn Plan” which will run for the duration of Q3 2019. I’m afraid that I don’t have much information on why this has been implemented or what is to replace it in Q4, but it will run in addition to the existing quarterly token burns (which you can track here: https://kcs.kucoin.com). This is more great news for KCS holders – people who already get free KCS dividends paid to them daily! KuCoin state that they will use 10% of profits for token burns and that this Temporary Plan will “substantially increase” the amount of KCS that is burnt. How long have I been telling you to buy KCS now?…

Oh, one last thing: they’ve also launched their Over-The-Counter trading desk.

All of that happened within the first 8 days of July, put off buying KCS at your own peril…

NEO

No Bit Brain shill post would be complete without mentioning NEO! As part of my new resolution to keep you more in the loop about NEO happenings, I feel that I should inform you of NEO’s EcoBoost Plan.

Yes, I know that Ford manufactures EcoBoost engines – No, they are not related.

NEO’s EcoBoost plan is a three-phase, $100 million plan designed to:

  • Recruit Partners
  • Recruit Projects
    • In NEO’s words: “further enrich the community, incentivize developers with existing products, and encourage projects to seed even better projects”
  • Accelerate the Launch of Projects

You can read more about it here: https://neo.org/blog/details/4158

My bags are shilled, my job is done. ? Now the decision making is up to you.

I own all these coins in relatively large amounts and I won’t be selling them – even if BTC continues to murder altcoins. Read into that what you will.

 

Yours in crypto

Bit Brain

“The secret to success: find out where people are going and get there first” 

~ Mark Twain

“Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful” 

~ Bit Brain

Bit Brain recommends:

Crypto Exchanges:





Bitcoin 08 July

Perhaps you saw on yesterday when I posted on Twitter:

It was always the idea to blog about Bitcoin today, but Bitcoin was too fast for me:

While that movement has already begun, I’m going to write about it anyway, I guess I’ll just have to type faster than usual…

I am expecting moves in the $1000 (or greater) region by tomorrow.

BTC has been in a (somewhat messy) bullish converging triangle for roughly the last 10 days. The dominant BTC movement at the moment is a rise, and so this “sideways phase” is probably coming to an end.

Thanks to an “over-hyped” phase, followed by an “over-corrected” phase, this triangle is somewhat difficult to spot – fortunately you have me to spot it for you. ?

The rest is rather simple, as I said earlier, I expect a large price movement. This is to be expected after a period of sideways movement – especially when a converging triangle is in play.

I believe this will either be in the form of a direct price rise, or as a dip down to $10500, followed by a large price rise. The upwards break out of the triangle is an argument in favour of the former scenario: it’s a bullish breakout which will probably run to $12850 and possibly beyond that. The median price line (which is over three months old) is at $12850, so that would be a good place to stop, but momentum may carry it through to the next diagonal Fib at $13700 – or even higher if “over-hype” kicks in again.

The other scenario is that BTC first dips to support and then climbs. That support is the bottom of the diagonal Fib levels – the 0.0 Level – and is defined by the 10 June dip as well as by the over-correction dip of a week ago (which you may recall me calling exactly right – based on these same Fib levels). In support of another dip is the fact that volume has been decreasing over the last five days, though I don’t consider this to be as important as it would appear. I assess that volume also became “over-hyped” at the time of the $13800 price spike in late June and has taken a while to normalise after that. Volume also continues to far exceed the levels of the 2017 bull run, so I think a dip is the more unlikely scenario.

If BTC does dip then the support should catch it at about $10500 before slingshotting it back up towards $12850 and beyond.

I allocate the following probabilities to future scenarios:

  • BTC rises to $12850 and above directly – 45%
  • BTC dips to $10500 and then rises – 30%
  • BTC continues sideways – 10%
  • Something else – 15%

That’s all for now, let be hit the “Publish” button before everything changes or becomes outdated!

Yours in crypto
Bit Brain

Tweets from https://twitter.com/brain_bit
Charts made by Bit Brain with TradingView

“The secret to success: find out where people are going and get there first” 

~ Mark Twain

“Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful” 

~ Bit Brain

Bit Brain recommends:

Crypto Exchanges:





Stores of Value – End of week roundup

A quick post to end off the week – let’s take a look at what the major Stores of Value are up to.

Gold and Bitcoin are my two favourite Stores of Value. Many people seem to believe that you should hold either one or the other – I believe that diversification is safer and better. It’s always nice to gain value, but a Store of Value should HOLD value as a primary characteristic, and gain value as a secondary one.

I know that property is also seen as a good store of value, but property rights are not universal, in some places property can be a risky investment. Ask Zimbabwean farmers how secure property is as a Store of Value.

Bitcoin

After a quick rise at the end of last month, Bitcoin has spent the week counter-correcting, over-compensating and generally just consolidating. There are evidently many new investors in the market and their weak hands are predictably scared by “sudden” rises. It is amusing to watch how shocked mainstream reporters seem by the “extreme volatility” of Bitcoin – or as more experienced crypto investors would call it: “the norm”.

At around $11400 at the time of writing, I consider Bitcoin to still be suffering the effects of a little FUD after it’s recent rise and subsequent fall. I believe it is trading at a lower price than it should be, and I expect it to recover about $1100 – $1200 over the next few days as it makes its way back to the median mid-term trendline. That trendline runs along the 0.382 diagonal Fib and is indicated by the dashed line on the chart below:

Made by Bit Brain with TradingView

Gold

After an up and down week, Gold looks to be ending on a bit of a low note and may well close below $1400. This is no cause for alarm. Gold has managed to hold the majority of its mid-June gains and is looking rather bullish. Looking at the chart we can see that it appears to be forming a bull flag after its climb. A bull flag is a continuation pattern and indicates that gold is likely to continue its climb. The dashed orange lines are the bull flag and the solid yellow lines are the limits of the converging triangle that Gold has now conclusively broken out from.

Made by Bit Brain with TradingView

The very thin dashed line is an interesting one and something which I only added to my chart yesterday: it’s a line running parallel to Gold’s previous climb. If Gold can once again climb like it did from 2000 to 2013, then that little dashed line is the path that it will follow: standby for possible $2000/oz Gold in November 2021. See the zoomed out chart below:

Made by Bit Brain with TradingView

For those who may be curious: that means $5000/oz Gold in June 2027…

Conclusion

After a week of ups and downs, I’m looking forward to seeing Bitcoin climb again soon. The media is speaking about Bitcoin much more than ever before. The mass media gets almosteverything wrong, but the exposure is still good. For the foreseeable future the altcoins will probably continue to suffer. Eventually the new money will find the likes of Ethereum, Litecoin etc, and then finally trickle down into increasingly smaller projects. For now it’s probably best not to turn your BTC into altcoins (which are NOT as good at storing value!).

Should BTC fail to climb for some reason, then it shouldn’t drop lower than the long-term trendline, now sitting at just over $10000 (which is also a psychological support level). That trendline is depicted by the thin dotted line on the BTC chart.

Ignore the media reports that try to state reasons for the recent increase in the prices of BTC and Gold. Once again, they miss the big picture and focus on stupid short-term issues like the Trade War or Zuckerberg’s pseudo-crypto. The big picture – as you know – is that fiat economies and the politically correct, liberal, yet despotic governments that support them are slowly losing public support as people wise up to their trickery and failures. If there’s one thing I would NOT store value in now then it is fiat based assets!

Yours in crypto

Bit Brain

“The secret to success: find out where people are going and get there first” 

~ Mark Twain

“Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful” 

~ Bit Brain

Bit Brain recommends:

Crypto Exchanges:





Wash Trading Trybe

 

Sadly it would appear that nothing is sacred in the world of crypto. This shouldn’t be news to any of us, though it is always sad to see when it hits close to home.

I have caught the exchange Daybit (https://daybit.com/) wash trading Trybe’s TRYBE tokens in an attempt to boost their apparent volume, at least that is how it appears. I’ll tell you the story and show you the screenshots – you can decide for yourself.

For several months I have watched TRYBE price fluctuate wildly on my “Favourites” list at CoinGecko. TRYBE is normally either my main winner or loser over the typical time periods of 1h, 24h and/or 7d.

From https://www.coingecko.com/en/coins/favorites (this is my personal list so what you see when visiting that URL will probably be different)

 

The active exchanges listed for TRYBE are Daybit and Newdex. Prices vary wildly between the two exchanges. To me that means one of two things: either there is an arbitrage situation or there is rampant wash trading taking place.  At first I thought I had found an arbitrage opportunity, but watching it over time I saw that the daily price changes of Trybe are nonsensically volatile. There should be no way that such a spread could be sustained with that sort of trading volume.

https://www.coingecko.com/en/coins/trybe

 

I decided that in order to do a more thorough investigation, I should get some skin in the game. Instead of blogging yesterday, that is what I was up to. Admittedly it took longer than expected. I had recently used my Scatter Wallet to carry out the WAX mainnet swap and things were looking unfamiliar to me in the already confusing EOS economy system. The WAX swap entailed importing new keys and switching networks in Scatter, as well as using both the old and the new (version 11) of the wallet. I elected to move carefully in unfamiliar territory.

I decided to withdraw a few TRYBE tokens which I have earned on Trybe in order to carry out the experiment. This was the first time that I have tried to withdraw from Trybe, so that took me a few minutes to sort out. Unfortunately it turns out that there is a delay in withdrawing from Trybe: tokens withdrawals are only processed once a day. On top of that: only 1000 tokens can be withdrawn at a time (though I remember reading that that would be increased to 5000 soon). I executed a withdrawal request, but then couldn’t afford to wait all day for it to be actioned. So I needed another plan to get my hands on some TRYBE.

Fortunately I had some STEEM and SBD available. I converted SBD to STEEM, sent all the STEEM I could lay my hands on to Binance, traded STEEM for BTC, traded BTC for EOS, sent EOS to Scatter, logged into Newdex with Scatter and finally traded EOS for Trybe. With that Trybe in hand I made my way to Daybit to run my test. I logged in and noted the previous trades. They looked like this:

From Daybit

 

As you can see: there is a long line of orders executed at a price of 0.00148560 EOS. It is important to note that they were all for just over 300 000 TRYBE and that they had been executed over a very short space of time. It had also been several hours since the time of the last trade. Before that time there had been a gap of many hours, and then a cluster of similar trades – already very suspicious.

With 0.00148560 as the selling price for all the trades shown and with the cheapest current order on the platform being 0.00148570, I decided to send my TRYBE to the exchange and place a sell order at a price of 0.00145000 EOS, which I then did. Take note: the price shown for all the “Recent Trades” is 0.00000010 EOS below the price of the lowest sell order – you will see why this is important later on.

I placed a Sell order for 14900 TRYBE at a price of 0.00145000 EOS (a limit order).

From Daybit

 

Nothing happened. Then more nothing happened, and finally a whole lot of nothing. Eventually I stopped watching went to sleep.

THE NEXT DAY…

I woke up this morning to find that (surprise, surprise), my order had not been touched, even though it was still the cheapest order. BUT: a whole lot of new “Recent Trades” had appeared in the logs:

From Daybit

 

Thousands of dollars in TRYBE orders had magically appeared during the few hours that I had been asleep. Once again: all the same price, all right after one another (and then absolutely no activity after that) and all for about 300 000 TRYBE. What was the price of those orders? Exactly 0.00000010 EOS below the price of my sell order…

So I cancelled my order and placed a new one at a MUCH cheaper price: 0.00080000 EOS. Anybody prepared to buy at 0.00144990 should immediately snap that up… but no, the order has now stood there untouched for hours.

From this I conclude that Daybit is using TRYBE to try to inflate its volume and to boost its popularity. As further evidence of this, I can offer the following:

Daybit uses four base currencies for its trading pairs: BTC, EOS, ETH and USDT. Here is a complete record of the alleged trades recorded for each of those base currencies over the last 24 hours (at the time of writing):

EOS – note the very high TRYBE volume and the zero volume for everything else except “DAY”:

From Daybit

 

BTC – a little bit of DAY (suspiciously close to the amount traded for EOS), some HUNT, a small bit of STEEM and a lot more zeros.

From Daybit

 

ETH – a world of nothingness – the list carries on, but as you can see I have ordered it by decreasing volume – nothing has been traded.

From Daybit

 

USDT – More nothing

From Daybit

 

As you can see on CoinGecko: the total claimed trading volume of Daybit over 24 hours was just over $500 000, most of which came from TRYBE.

From https://www.coingecko.com/en/exchanges/daybit

 

Yet my orders never even triggered.

I’m calling Daybit out on what is obviously Wash Trading. I don’t know why they have picked TRYBE, perhaps they feel it is “below the radar” enough not to get noticed. Hard luck Daybit, it’s been on my watchlist for months – and I don’t miss much.

Decide for yourself if I am right, I don’t see how I could possibly be wrong. In light of this, I will be ensuring that CoinGecko gets this information so that they can improve their “Trust Score” algorithm (which I have written about in the past). At the moment Daybit is too small to even get a Trust score, but the sooner CoinGecko knows about it, the more they can keep an eye on it and the better for us all.

Bad actors are a blight in the crypto space. I will fight them wherever I find them, be it a little wash trading by a small exchange or the mighty Facebook, Ripple or JP Morgan and their self-serving “cryptocurrencies”.

As a community it is up to us to self-regulate. Nobody is going to regulate crypto for us if we don’t do it ourselves. (Yes we all know the banks and governments will try in vain – much to our amusement!) Dishonesty in this sector is bad for us all, it breaks trust and gives crypto a bad name. Wash trading is a major problem, what you see in this post isn’t even the tip of that iceberg, some major exchanges do it all the time. We all need to stand together to say that we will not accept it.

I recommend that if you want to buy or sell TRYBE then you do so on Nexdex. It works smoothly with Scatter and is non-custodial – making it cheap, easy and secure to use – just as a DEX should be.

To the Trybe team: I suggest automating the withdrawal process and increasing the withdrawal limits. For Trybe to find fair price, get noticed and to gain popularity as a token, it needs to be traded, spoken about and visible on the exchanges.

For the record I don’t think that TRYBE is the kind of token that one should be trading right now: it’s still a small token and the value of such tokens lies mainly in holding them and staking them while they are still cheap. My readers will know that I’m far more interested in investing than in trading. As a community let us all try to grow our TRYBE in the healthiest way possible: let’s spread the word and let the price grow organically. I definitely suggest that you avoid using Daybit for TRYBE trading.

 

Yours in crypto

Bit Brain

“The secret to success: find out where people are going and get there first” 

~ Mark Twain

“Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful” 

~ Bit Brain

Bit Brain recommends:

Crypto Exchanges:





Not Daybit!

BITCOIN: first STEEMLEO post and some resistance at 11300USD

I have received the LEO token airdrop, corresponding equally to amount of staked PAL tokens I have today so, 1176 PAL = 1176 LEO , that’s amazing because STEEMLEO is one of the first tribes/communities created on top of STEEM in order for “investors to talk about anything and everything related to investing.”… and I have to join YES or YES this community for sure so, I hope @timm members would do the same… as well as @cryptopassion , @ew-and-patterns , @bitbrain , @workin2005 …

So, from now on I will get paid in PAL tokens and LEO tokens besides STEEM.

If you want more information about go and read this post and join the community! It is time to make STEEM blockchain greater!!!

Also you have further and extensive information here.

Regarding BITCOIN…

As I said yesterday in my post, it is very likely that the correction is finished but still we have to confirm the breakage of the 11300 USD resistance which is acting as expected since it was also a historical resistance in the past.

The things will be clearer If BITCOIN then overpasses the 12300 USD level ( B symbol on the chart) however I am not totally confident, the volume is doing some hesitating changes and RSI is clearly not oversold so I am keeping my buying order at 9400 USD placed 4 days ago just in case.

Enjoy!

@toofasteddie

Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.

BTC – 02 June

 

I’m not going to write you a BTC post today, I’ve already written everything that I wanted to.

I’m just going to re-show you things in case you missed them.

This post is a loosely related to my Bitcoin post (“Let’s talk BTC”) from last Friday.

But what this post is closely related to is my Twitter feed. A note to the new and a reminder to the old: I don’t blog about everything, especially short-term price movements in crypto, metals, stock market indices etc. – but I often mention them on Twitter. I therefore advise you to follow me at: https://twitter.com/brain_bit, you know; that link at the bottom of my blog posts which you always ignore ?

No I’m kidding, I’m sure you remembered to follow ol’ Bit Brain, in which case I’m sure you’ve seen all of this before:

You saw on the weekend when I spoke about the possibility of a drop to about $10k:

 

You saw the BTC/Gold correlation (for those who still need proof that BTC is becoming a very important Store-of-Value):

 

You saw yesterday when I used diagonal Fib levels (which I still don’t see ANY other analysts using) to predict the next bottom at $9700 (today).

 

You saw how this also ties in with the last BTC market cycle (whether or not that will later prove to be relevant).

 

You saw BTC turn exactly where I predicted this morning:

 

Let’s just take another zoomed-in look at that candle wick, my Fib levels, my long-term trendline and my prediction arrow:

 

Seen better lately?

Mini-Discussion:

Ignore my narcissistic personality, that’s just Bit Brain being Bit Brain. The POINT is, I do give information on Twitter which may sometimes prove to be useful.

As mentioned in the last Tweet, I do think that BTC may have finished dropping for now, but it will take a break North of $11100 (above the 0.236 diagonal Fib) to confirm that. Being diagonal Fib levels, that figure increases daily. if I am wrong and BTC does drop below $9700, then the next support lies at $9000. Failing that, the mid-$7000s are on the cards.

A bullish Q2 to 2019 has introduced a large number of new weak hands to the market. This period of flux is caused by the weak hands shaking out while the more experienced and intelligent money buys up the BTC that the weak hands dump. It’s all part of the cycle and I welcome it. The more small dips we have, the stronger BTC can climb and the longer the bulls can run without crashing.

 

Yours in crypto

Bit Brain

All Tweets from https://twitter.com/brain_bit
All charts made by Bit Brain with TradingView

“The secret to success: find out where people are going and get there first” 

~ Mark Twain

“Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful” 

~ Bit Brain

Bit Brain recommends:

Crypto Exchanges:





Index to Crypto with Bit Brain – Edition 2019/4

 

These Index posts always seem to build up content without me noticing it, I turn around and “BOOM!”, somehow I’m a month behind with them again! Let’s try to rectify that shall we?

As usual, I’ll start with the links to the previous “Index” posts. Bookmarking this post will therefore give you access to all of the very best posts which I have ever written!

Previous Index posts:

Index to Crypto with Bit Brain – Edition 2019/3 is the most recent Index, it was published on 10 May. It contains advice on how formally or informally to style your crypto business, precious metals information, how to buy high priced cryptos and still score, some very serious discussions about Private Blockchains and also about how you think you’re ready for decentralisation – but aren’t. Of course there is a lot more too.

Index to Crypto with Bit Brain – Edition 2019/2 was published in early April. In it you will find some posts about what I have been buying in 2019, the long overdue Part 3 of my “Diversification” series, some alternative exchanges worth looking at (rather important with Binance only semi-usable at the moment), a post about how to keep your crypto life anonymous and several other posts which have already proven to be prophetic.

Index to Crypto with Bit Brain – Edition 2019/1 contains links to some fantastic posts such as the series “No Kevin, Bitcoin will NOT bite the dust” where I debunk an argument against Bitcoin, I showed how I called the end of the bear in January and I revisited the old topic of Bitcoin ETFs. The three part (with an unofficial fourth part) series “Ripple – we need to talk” tells Ripple investors all the information that they really need to know about their pseudo-crypto. You can also find a pretty good article about ICOs and the BitTorrent Token rolled into one – probably a good read for any prospective BTT or ICO investors.

Index to crypto with Bit Brain – Edition VII – 2018 is the annual index which contains links to all of my other indices. In this Index you will also find some of my finest posts of late 2018 such as musings about DEXs, the vital Crypto Laws of Bit Brain – a must for any investor, you’ll see how to keep your crypto correspondence private, there are posts about great crypto projects like CargoX, Binance, THEKEY and UTrust and I talk about the dreaded Capitulation.

 

 

As usual I’m leaving out most of the price related and similar posts, they have little historical value and are not worth indexing; what’s left is the good stuff – and boy have we had some good Bit Brain posts lately!

Index to the latest posts:

Trustworthy Crypto Information Many exchanges lie about their trading volume. Wash trading is rampant. I often see estimates which state that 80-90% of crypto trading is wash trading. CoinGecko is doing something about it with its “Trust Score”. They are my favourite coin tracking site for this and many other reasons. Read this post, or see for yourself at https://www.coingecko.com/en

A Stable of Binance Coins – General musings Binance’s own Stablecoins: What are they? What do they mean for crypto?

The Future of Privacy Coins What do you know about Privacy Coins? What do you know about the FUTURE of Privacy Coins? This is important information for the wise crypto investor…

Crypto East vs West This is why you follow me – this is the kind of holistic, global, crypto, politics, warfare, futurist economic outlook that you simply can’t get anywhere else! This, ladies and gentlemen, is what Bit Brain does best.

Altcoin Buying Masterplan (it’s working…) I don’t tell you the names of coins to buy, I tell you the TYPES of coins to buy. Better than any altcoin investing advice you’ll find elsewhere!

Crypto Top 20 – in one paragraph apiece Just what the heading suggests – Bit Brain’s take on the crypto names you hear the most: The Good, the Bad and the Ripple. (I’m hilarious.)

Lets talk about: Facebook’s “Libra” Bookmark it; you’re going to need to refer back to it! Probably the best perspective of Libra that you’ll ever read.

Precious Metal Run Metals move a lot slower than crypto does. For that reason this TA based post gets a place in the Index. Still very relevant.

NEO news I don’t speak about NEO enough. People are still ignoring what is simply the best crypto out there. I make a very small effort to steer them towards the correct path.

 

 

SERIES

There is normally a series or two in these posts, and this post is no exception. From a writer’s perspective series posts are probably my favourite things to write. The format allows me to expand on more than what regular blog posts do.  I put a bit of extra effort into my series posts, and I’m particularly pleased with the result of my recent efforts. If you read none of my other posts, then read these:

DECENTRALISED VICTORIES:

The decentralised world is having very meaningful victories, not just in crypto, but in the whole mentality of the Western world. There IS hope! We will see great changes within our lifetimes – these posts not only tell you why, they also point out the first major decentralising changes which are already underway.

Decentralised Victories – Part 1: Introduction and the problem of Money

Decentralised Victories – Part 2: The problem of Power

Decentralised Victories – Part 3: Recent Decentralised Victories and Conclusion

THE BITCOIN HALVING EVENT

Halving events are surrounded by speculation and opinions – no facts. Litecoin is demonstrating that at the moment. Bit Brain gives you the facts.

The Bitcoin Halving Event – Part 1 

The Bitcoin Halving Event – Part 2

 

 

That brings the first half of 2019 to a close – all neatly wrapped up in four Index posts. Take a look at some old posts, much of what I write is designed to remain relevant for years, decades even. There are some very good posts tucked away in my various Indices, and I’m not just saying that because I wrote them.

 

Yours in crypto

Bit Brain

“The secret to success: find out where people are going and get there first” 

~ Mark Twain

“Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful” 

~ Bit Brain

Bit Brain recommends:

Crypto Exchanges:





Let’s talk BTC

Bitcoin has certainly been active lately. I can’t always tell what it’s going to do next, but I do understand what it has been up to and the latest BTC movements have helped to refine and confirm my analysis methods. Let me show you what I mean.

I managed to call the latest dip slightly in advance.

This was just before noon (UTC) on Wednesday when BTC was at about $12500:

From https://twitter.com/brain_bit/status/1143801736827670529

For a while I thought I had it wrong as BTC pumped another $1000 northwards, but then it did correct.

As I said in “Altcoin Buying Masterplan (it’s working…)” two weeks ago, I have