lol Buygold is not alone in what ever info he got. Armstrong said there could be a temp high in Market around 24/25 this year but a turning point and next year Nov 21 could also be a turning point political. We have elections next year but he also includes global.

The ECM Turning Point Here in November

Genius?  No… but it scares me when you good ol’ boys with deep, old ‘connections’ hint at stuff like that.

Care to share more about your trip and what you learned?

I understand those are not your words, just those of a ‘financial wizard’ you are reporting on.  They can indeed TRY to make a ‘futures market’ of Bitcoin, but it will be purely a ‘following’ market… a ‘side-bet’.. that is led around by an independent, fundamental BTC.   There is no way I can see that a “BTC Futures” market can be used to leverage against the fundamental BTC price, like the bastards do against gold, silver, and all the other commodities on the ‘commodity exchanges’.   They cannot assume control of the fundamental BTC price  UNLESS they use a lot of cash to buy or sell in the BTC ‘market’ (which is a blockchain).  It is a worldwide, independent, CASH market for BTC.    How the hell can you ‘control’ that?   I don’t see a way.

Despite my strong opinion on this, it still would not surprise me to see the wizards TRY.   Maybe they will find a way… using a lot of supporting cash from a central bank… but it would be a real mess.

The real clue here is that one cannot ‘naked short’ BTC.  If you are going to ‘sell’ BTC massively to drop the price, YOU MUST HAVE THE ‘PHYSICAL’ BITCOINS TO SELL… EnMass.

If you’re call comes true then we’re gonna havta figure you’re some kind of genius! 🙂

Yes. If I’m wrong then my trip to Salt Lake City meant nothing.

If I’m wrong, call me Gartman.

Lots of forward thinking from Mike Adams in this brief video.

https://youtu.be/4PHLvaF84ko

Had a bit of a premonition today.

There will be only 10 days before an event that not only rocks the markets, but the world. Probably this weekend.

Can’t say if gold will drop $500 or go up $500. Can’t really even say that markets will be open.

It’s coming, whatever “it” is and it’s coming very soon.

So far I know very little about bitcoin. I was only REPORTING talk or rumors going on about Bitcoin going onto futures, and a Mr. Peterffy concerned about it.

What you are saying, or implying, in your post, is that it is totally impossible for anybody to create a Bitcoin futures market on the futures exchange.

Me? I don’t care what they do. Has no effect on me. No icing off my cupcake. 🙂

“If the Chicago Mercantile Exchange or any other clearing organization clears a cryptocurrency together with other products…”

Complete, utter, ignorant BS!

This is the great fallacy of the financial wizards who do not fully understand how bitcoin works, and want to control it like a common commodity.   THERE CAN BE NO EXCHANGE “CLEARING” BITCOIN TRANSACTIONS!  Each and every worldwide BTC transaction is peer-to-peer and ‘self clearing’.  No exchange has control of a BTC purchase in China or Russia.

An exchange may buy and sell BTC like any other individual or business, but it will only be a small part of the whole.  It is a CASH market, self-clearing…. not a leveraged paper game on one exchange.

http://www.11alive.com/article/news/investigations/hidden-camera-tells-true-story-of-how-veteran-died-after-calling-for-help-gasping-for-air/85-490859558

XXXXXactly Mr. Copper!

Under the auspice that they’re “Providing Liquidity” and they’re offering a way to “leverage” bitcoin’s success. But really the bankers want control. This way they can leverage the FED against them. They want ultimate control of it’s destiny. I told my friends on Facebook several months ago this exactly. If bankers hate cryptos, I love them. If they love them, well….then I hate ’em. No in between in my camp. The banker tool is coming, it’s going to siphon money off and manipulate the price. It’s going to make swings more wild and more wild. I’ll bet on it.

Booked some green on the Jan 16, &17 strikes. Lost on the 18’s. Started layering in some Jan 16 Puts and hoping to add to those in the next day or three. The calls served me very well lets see if my trading nose can work on the puts.

Six more trading days before option expiry and if the banksters act as they normally do they will be instigating a smash down before or on Nov 28. The miners are looking pretty anemic at this point, so als0 added more JDST as insurance policy if they continue their downward bias.

But who the hell knows? I feel like I am in a game of craps and the dice are loaded. We’ll see how it turns out.

Was doing a google search this morning trying to find information on how the PM’s normally do the week of Thanksgiving. Had no luck, and wish I had doing  been a better job over the past 10 years of making notes. Any of you have any insight I would appreciate your sharing here at the Oasis. Did find an article that says the General Markets do well that week for those interested. Little dated since published in Nov 2011, but a good chart with 40+years of data.

Trading The Market During Thanksgiving Week

https://seekingalpha.com/article/309414-trading-the-market-during-thanksgiving-week

Best to all from Farmboy who has gone over to the Dark Side. 🙂 But just for a week or so.

if an area had cheap electricity they’d build aluminum plants … now they set up BTC farms.

http://www.zerohedge.com/news/2017-11-16/merkel-facing-night-long-knives-coalitiion-talks

If the talks fail there is every chance of new elections and this time the AfD could enter power and Merkel will be dumped by her party…

The EU would be in chaos….with National anti immigrant party’s fighting the EU bureaucrats.

One Bitcoin Transaction Now Uses as Much Energy as Your House in a Week

Bitcoin’s incredible price run to break over $7,000 this year has sent its overall electricity consumption soaring, as people worldwide bring more energy-hungry computers online to mine the digital currency.

An index from cryptocurrency analyst Alex de Vries, aka Digiconomist, estimates that with prices the way they are now, it would be profitable for Bitcoin miners to burn through over 24 terawatt-hours of electricity annually as they compete to solve increasingly difficult cryptographic puzzles to “mine” more Bitcoins. That’s about as much as Nigeria, a country of 186 million people, uses in a year.

This averages out to a shocking 215 kilowatt-hours (KWh) of juice used by miners for each Bitcoin transaction (there are currently about 300,000 transactions per day). Since the average American household consumes 901 KWh per month, each Bitcoin transfer represents enough energy to run a comfortable house, and everything in it, for nearly a week. On a larger scale, De Vries’ index shows that bitcoin miners worldwide could be using enough electricity to at any given time to power about 2.26 million American homes.

more https://motherboard.vice.com/en_us/article/ywbbpm/bitcoin-mining-electricity-consumption-ethereum-energy-climate-change

Are there futures markets on the Indices?? My view? If the bean counters don’t like the way the “free market” is determining the price, they simply nudge the market in the right direction. Just like Gold futures. Goldman Sachs and big margined contract buys or sells.

PS Re Richy’s post below, I forgot TPTB using the “news” to nudge price direction. Long ago I noticed that. The news interferes with T/A or changes the chart moves.

Now when are they going to ask HIM when he’s gonna step down. Some on left gonna say it’s side tracking. Ha this whole thing with Moore is side tracking, away from Hitlery FBI and all other insider cronies.

http://www.kabc.com/2017/11/16/leeann-tweeden-on-senator-al-franken/

Letter to Wall Street Journal: (parts)

I am the Chairman and founder of Interactive Brokers LLC, a futures commission merchant and broker-dealer with over $ 3.8 billion in regulatory net capital and over $1.2 billion in client margin funds

If the Chicago Mercantile Exchange or any other clearing organization clears a cryptocurrency together with other products, then a large cryptocurrency price move that destabilizes members that clear cryptocurrencies will destabilize

the clearing organization itself and its ability to satisfy its fundamental obligation to pay the winners and collect from the losers on the other products in the same clearing pool.

Margining such a product in a reasonable manner is impossible. While the buyer (the long side) of a cryptocurrency futures contract or call option could be required to put up 100% of the value to ensure safety, determining the margin requirement for the seller (the short side) is impossible. Instituting daily price move limits on cryptocurrency derivatives does not solve the problem.

In a runaway upward market for example (like the silver market in the 1980’s caused by the Hunt brothers), the futures price gets locked limit-up day after day with little or no trading and the short sellers are unable to cover, leading them (and potentially their clearing firms) to ruin.

complete letter

https://www.interactivebrokers.com/download/11-IB17-1145%20tp-letter-to-futures-trading-commission.pdf

M.C. Comment:

My guess is TPTB want bitcoin futures, to “play games with” maybe even suppress the prices, to punish investors like they do with Gold all the time. Punish investors. Then if the economy collapses again, TPTB can blame bitcoin. I think they blamed the Gold standard for the crash of 1929.

Haven’t seen you post in a while. Hope all is well!

https://ceo.ca/@thenewswire/novo-signs-terms-sheet-with-ngarluma-aboriginal-corporation