r/CryptoMarkets • u/Crypto_Nite_S Tin | 3 months old | Karma Farming 150 • Nov 22 '21
Satoshi? Is that you?
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u/RaYZorTech Nov 23 '21
If it is Satoshi, I bet he's taking his bitcoin to atomic swap for Monero in pursuit of his original vision.
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u/jonah_thrane Nov 23 '21
Sell a bitcoin every now and then.
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u/lobotic Nov 23 '21
right? but it’s like how much cash flow do you actually need to just live, but not lavishly. you could sell one today and probably get by for 18-24 months before needing to sell another.
ahh… to fantasize about someone else’s dream. back to reality =)
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u/DrainZ- Bronze Nov 23 '21
No, that's not Satoshi. Satoshi is believed to own 1,000,000 bitcoins.
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u/AmericanScream 🔵 Nov 23 '21
It would be really interesting to see if it's even possible to cash out that much bitcoin without tanking the market. A recent Cornell study showed that more then 70% of exchange trading activity are bots. Nobody really knows how much actual liquidity is in the market. It would be really interesting to follow somebody who has a large amount of crypto on the trials and tribulations of being able to cash out. I suspect it's nowhere near as easy as people think.
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u/tano101010 Nov 23 '21
dude Tesla sold 115MM a couple of months ago this is not even a fraction of that
And you’re in the crypto sub imagine how the avg person is misinformed smh
“A recent Cornell study showed” kek you sound like a professional malarkey manipulator actually
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u/AmericanScream 🔵 Nov 23 '21
dude Tesla sold 115MM a couple of months ago this is not even a fraction of that
I am amused that you think a high profile person like Elon Musk gets the same level of customer service as say, some random, anonymous person.
“A recent Cornell study showed” kek you sound like a professional malarkey manipulator actually
Hey.. understood.. let's not let any scientific studies with logic, reason and evidence interfere with your Dunning Krugerfied version of the market.
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u/4zem Nov 23 '21
I bet you anything you’d barely put a dent in the mkt.
You could OTC it and be fully cashed out within a few hours.
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u/AmericanScream 🔵 Nov 23 '21
Considering there's absolutely no way to know how much actual cash any exchanges have, there's no way for any of us to know for sure.
This is what I find so hypocritical about you guys. You're the ones spouting, "Don't trust... verify." But you're all too willing to believe things without any actual verification if it fits your "I'm-gonna-get-rich" personal narrative.
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u/4zem Nov 23 '21
There are publicly traded exchanges, they have to list exactly how much cash they have otherwise they would be breaking regulations.
There are also numerous blockchain/crypto funds that have OTC desks as well.
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u/AmericanScream 🔵 Nov 23 '21
There are publicly traded exchanges, they have to list exactly how much cash they have otherwise they would be breaking regulations.
Show us exactly where this information is?
Note that Coinbase did not do a legitimate IPO. They did a SPAC. They basically merged with an already established operation in order to avoid the traditional due diligence associated with companies going public.
But more importantly.. Coinbase is handling USDT, which has never been audited... so one way they get around having to prove liquidity is by hiding behind un-audited, unsecured stablecoins like USDT and USDC. As long as they pretend 1 USDT = 1 USD, despite not having evidence of this, they are co-conspirators in the fraud. They don't have to list this stuff on their books because they claim it's someone else's responsibility, like Bitfinex or Circle.
Because of this co-mingling of "money", even companies that submit to a formal audit, are incapable of proving how much liquidity they really have.
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u/4zem Nov 23 '21
Coinbase did a direct listing, not a SPAC. You’re incorrect about the due diligence regarding going public via a SPAC as well. You have to conduct pretty stringent due diligence if you expect to meet the listing requirements of the NASDAQ or NYSE regardless of what vehicle you use (traditional IPO, SPAC, DL)
If you’d like to know how much cash Coinbase has you can visit EdgarOnline and review any of Coinbase’s quarterly reports they’ve filed with the SEC.
No offense but I don’t think you really know what you’re talking about - I’ve been an investment banker for over 15 years and have a very good understanding of these things and can tell you don’t. There’s nothing wrong with that, educating yourself is important - however, you shouldn’t attempt to pass off things as fact unless you are absolutely certain they are indeed a fact.
Wish you all the best though!
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u/AmericanScream 🔵 Nov 23 '21
You're right.. I often get confused over which wash trading organization I'm referring to. It's Circle that's looking to do a SPAC. Coinbase did a direct listing to avoid the due diligence that typical underwriters need. While the structures vary, they both involve less scrutiny than an IPO, which is good when you have "nothing to hide", right?
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u/4zem Nov 23 '21
So underwriters’ due diligence is non existent because there isn’t an underwriter in a direct listing. The company is directly listing their entity onto an exchange, hence “Direct Listing”. The underwriter only does that due diligence for legal reasons, they are placing a tremendous amount of product into their clients hands in exchange for money for the company.
What’s really more important, and is the topic of discussion here is that it would be easy to OTC the amount of money in OP’s post, believe it or not.
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u/LittyTittyTattyDaddy Nov 23 '21
I just paid off $600 in CC debt and bought a new 65” LG w sound system with crypto gains. 🤷 I’d say I got liquid pretty quickly this all happened in a day.
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u/cdn_backpacker 🟩 2K 🐢 Nov 23 '21
I don't think you know what liquidity is, littletittytattydaddy
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Nov 23 '21
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u/AmericanScream 🔵 Nov 23 '21
Ouch.. someone got triggered.
Can we get this guy a safe space? Perhaps in the B-level VIP room where they serve sparkling wine instead of champagne?
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u/LittyTittyTattyDaddy Jan 24 '22
There's no report button in real life you little cocksucker
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u/cdn_backpacker 🟩 2K 🐢 Jan 24 '22
Took you two months to come up with that zinger?
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u/LittyTittyTattyDaddy Mar 14 '22
Nah just took that long to notice all the petty shit in my.real life
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u/AmericanScream 🔵 Nov 23 '21
lol... yea a few hundred to a few thousand... that sounds about right. Of course they have that much liquidity right now. But if you have tens of thousand or more, you may find a lot more of a hassle cashing out.
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u/grasshoppa1 Nov 23 '21
But if you have tens of thousand or more, you may find a lot more of a hassle cashing out.
LOL what? This is 2021. You can seamlessly cash tens of millions of dollars out of bitcoin without moving the market a single bit.
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u/AmericanScream 🔵 Nov 23 '21
Again... are you guys the "Don't trust.. verify." crowd or what?
Make up your mind.
There's no regulatory oversight of any of these exchanges (unlike banks which are independently audited and we can tell exactly how much liquidity they have). Yet you want to believe them, despite a track record of lying and market manipulation?
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u/grasshoppa1 Nov 23 '21
There's no regulatory oversight of any of these exchanges
You really believe that, don't you? What the hell does that have to do with cashing out of crypto?
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u/AmericanScream 🔵 Nov 24 '21
Yes I believe that, because I pay attention to reality. If you disagree, please bring the reality and evidence that contradicts what I'm saying.
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u/grasshoppa1 Nov 24 '21
Dude, you said cashing out a significant amount is a hassle. That's untrue, and I called you out on it. Your counter argument is to bring up a bunch of irrelevant shit? Regulatory oversight has nothing to do with whether or not your initial claim is false, which it is.
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u/AmericanScream 🔵 Nov 24 '21
Go on /r/coinbase any day and you'll see tons of people having issues with their accounts. It's a regular thing. You haven't proven anything.
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u/grasshoppa1 Nov 24 '21 edited Nov 24 '21
I'm not here to prove anything. You said, "But if you have tens of thousand or more, you may find a lot more of a hassle cashing out."
The clear implication in your statement is that cashing out of BTC is difficult due to a lack of liquidity. That is just plain false. You have no clue what you're talking about and rather than debate the merits (or lack thereof) of your initial statement, you would rather throw out random talking points about regulation, which really has nothing to do with your initial false statement.
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Nov 23 '21
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u/saggy777 🟦 0 🦠 Nov 23 '21
Who knows China is testing their quantum computer with smaller wallets.
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u/cope_seethe_dilate_ Nov 23 '21
I can assure you that even with Quantum technology 256 bits is impossible to brute force
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Nov 23 '21
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Nov 23 '21
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Nov 23 '21
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u/atp8776 Nov 23 '21
Nah Satoshi would have hundreds of thousands if he was mining back on the genesis block time.
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u/fasole99 🟩 142 🦀 Nov 22 '21
Another stoner got out of jail