Role of Crypto/Cybercurrencies in the PTB's loss of control?

Scottie

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Something else I just thought of: If you've ever tried to learn about how encryption works, you quickly learned that there are maybe a tiny handful of people in the world who actually completely understand it. It's INSANELY complex and mathematically obscure. So, to me it's pretty naive to say that it would take all the supercomputers of the world to crack Encryption Algorithm X, because so few people actually fully understand it that who the heck really knows? The vast majority just repeat the claims of safety and security that they hear from 'someone who knows'...
 

bjorn

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Latin America has historically always suffered from high inflation, currency instability, extremely high remittance transfers, and a general over-reliance on the USD. Now, they believe, jumping on the Bitcoin train is the solution.

The Bitcoin ‘gold rush’ among nations has begun with El Salvador starting it all as the country’s president announced he would be proposing new regulations to induct Bitcoin as a legal tender and soon after Paraguay politician hinted a similar stance on the top cryptocurrency. The latest country to join the growing league of nations announcing new legislation around Bitcoin is Mexico.

 

bjorn

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Latin America has historically always suffered from high inflation, currency instability, extremely high remittance transfers, and a general over-reliance on the USD. Now, they believe, jumping on the Bitcoin train is the solution.

It's spreading.

IMG_7209 2.PNG
 

BHelmet

Dagobah Resident
really get the sense this guy is onto something and connecting the dots of World Events
Hey Andrew, there’s a major divergence between Mannarino and the Cryptoteacher dude: one says Fed keeps printing And we just keep going up as inflation ramps up; the other says they taper in July And a bear market starts as they pump the money into the 4th industrialization in preparation for their digital economy. What’s your call?

If they taper and the markets tank, is this the time the C’s mentioned when the PTB lose control? I’m not sure what I think but the gurus are not in agreement.
 

Onetrickponystar

The Force is Strong With This One
@BHelmet good questions.

Listening to CryptoTeacher (who was 100% spot on about today's little pump, again): he sees a big correction soon, but if I understand him correctly, not a major crash. He is talking about a smoother transition. Because a major crash would not be in the best interest of the PTB.

Do others get this as well after listening to him?
 

bjorn

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This is the reason why BTC skyrocketed today and I bet the effect of this is not over yet.


32K support level has been tested 3 times in the last 30 days and from there a rebounce followed each time. I don't think there will be another correction. I expect this week unless there is a FUD that BTC will test 42.5K. If it breaks it will be rocket ship from then on.

Musk's tweet probably restored confidence in the market altogether. I see a lot of Bullish signs
 

bjorn

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he sees a big correction soon

I don't think there will be another crypto winter. Simply because there are 2 million new people getting involved in crypto every week. This is not like 2018.

BTC today hit its physiological level of 40K and trying to hodl above it. If the price is able to hodl this area, and break the 42,5K, then this might be a confirmation for another bull run continuation. OSIT.
 

Mike

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I think the whales and people or interests that can move crypto where they want it (to a large degree) use such Musk tweets and such as a pivot point to make their moves. It makes it look like Musk is moving the market, but really I don't think he is. Often times you will see supposed bad news and statements by governments piled on to bad news, and crypto falls. Then you will see some kind of bottom or capitulation and then the good news come out on top of more good news and the tide turns. This all could possibly be coordinated toward a purpose. For a good amount of time, I have thought and figured governments were already buyers and miners of crypto, but not telling anyone. Now with El Salvador, it is official that governments are directly involved. So you have many of the biggest financial interests in the world, to include governments, involved. I think such interests want to gain as big a foothold into crypto as they can moving forward and eventually own as much of it as they can.

Also, I have heard one youtuber (Bitcoin Ben - he has a lot of connections in crypto, from influencers to owners of major exchanges) mention a few times in the past that there is a private Telegram group where the people, like Musk (though I have no idea if he is in it), network and talk about crypto. I'd imagine such a group could facilitate loose coordination, even if it is just such people having the same understanding about crypto and where it is heading price wise etc.

edit added: And, imo, the big interest in crypto know all the supposedly key technical analysis (TA) points everyone is looking at as important and they use these points to make moves and also to put pressure on people to sell, if they can get people to sell.
 

bjorn

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I personally think it's a little too far-fetched that every time an influential person tweets something about crypto secret organizations immediately jump on that. Or always collude together covertly. And for what, so that they can grab 10% more profit while if they are a bit more patient they can also cash in 50% or more? Also on Reddit bitcoin, a lot of people are always trying to figure out Musk and his tweet behavior. Let me remind you that just for fun, he once caused his Tesla stocks to plummet by tweeting that the shares are too high. The guy is a tourist in his own head.

But these are just my thoughts on this topic
 

Navigator

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It's still generally accepted that it's actually secure, but in reality many people recommend against using it because it's slowly becoming less secure - and usually these things become 'slowly less secure' until one day, KABOOM! It's totally broken. In reality, that prolly means it's already been 'cracked' - by more people than just the NSA, who most certainly did not release it for widespread use because it was so secure.

Just a technical note to point out that 99% of what we read about cryptos is more fluff than reality. If humans are involved, it can be, will be, and probably already has been co-opted for nefarious purposes. But it's a really good show!

Yeah, one way or another there is a way to beat the encryption, I'll say more because of "social engineering", i.e. coercion or corruption, than anything else, as that is the weakest link.

Here is a fragment of an interview with Telegram's Pavel Durov by journalist Yasha Levine from 2017:

Durov admitted that cryptography has its limits. Still, as he recounted how Snowden had talked down Telegram, Durov was frustrated and bewildered. He says he and his brother were very cautious about choosing cryptography techniques promoted by American experts—particularly since the NSA docs leaked by Snowden revealed the NSA secretly paid RSA, an influential computer security firm, to use a flawed technique that the NSA knew how to crack. The Durov brothers wondered if the same thing could now be happening with other popular encryption algorithms. They became even more concerned when Telegram began to draw public attacks on social media from American cryptography experts. “They based their criticism of our approach not on any actual weakness, but solely on the fact that we didn’t use the algorithms they were promoting,” he said. “Since they failed to engage in any meaningful conversation on cryptography, we started to realize there was some other agenda they were pushing rather than finding truth or maximizing security.”
 

Onetrickponystar

The Force is Strong With This One
I personally think it's a little too far-fetched that every time an influential person tweets something about crypto secret organizations immediately jump on that.
The influencer follows the big money/large institutions, it is not the other way around here.

These pump and dumps are heavily coordinated, and the last few months they happen pretty much on a weekly base.

I agree with @Mike: there is a correlation in time between the tweets of Elon and the price of crypto, but it is not the main cause. The afore mentioned CryptoTeacher is looking at the fed, the stable coins (usdc and usdt), the announced reversed repos, closing of futures etc. With these indicators you can pretty much foresee when the FED is pumping 100's of billions into the market. This is what truly influence the market.

I strongly feel that Musk is tweeting along as part of the plan, to distract from the fact these are deliberate manipulations. The volatility seems therefore eradic (because of the tweets of a mad man billionaire), but they are not. If your looking at the right indicators you can profit and grind along. Not making 50% gains in the long run, but making 10 till 20% every pump and dump. With the recent volatility this where you could really benefit.
 
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