Santanistas Kill Bitcoin

We have been speaking for perhaps a month about the Santa Rally.  Since the markets will be closed Monday (and there will be a blissfully short report up then),  it is only appropriate that the Santanista guerillas be run out of town today.

Unfortunately, they took Bitcoin hostage and have killed it.

When I looked, it was under the $14,000 level. Although, hope springs eternal in the heart (and hype) of coinsters.  So don’t be surprised to see a Lazarus Rally shortly.  And the story about how the Bitcoin frenzy sparks Finra cryptocurrency warning.

(*Continues below)


Just how “dead” is Bitcoin?

Frankly, we don’t know.  Maybe the whole idea was for it to be nothing more than a ‘test bed’ for the roll-out of a Global Currency.  Thing is, if you look at this as investor, Bitcoins lack something: And underlying peg to anything of value.

I’ll round this off to make it easy on you:  If we consider that the Dow is around 24,800 and a similar drop to what Bitcoin has been through were to happen, that would squash the Dow to 17,800, plus or minus a tree ornament.

I’m hear to tell you, if the Dow dropped 7,000 points in a week, there would be “…such a clatter from the rooftops….”

Still, we find it all totally amusing…and a hat tip to our reader Andy…who while not pushing an 18-wheeler around Seattle, does better talking with higher powers than 90 percent of coin and Wall St. analysts.  He called the decline in the comments section a couple of days back.

For now, looks like the market will open about flat.  But, financial terrorism is a curious thing.  Sure, the market COULD run up more…since there’s still an upper trend channel within reach.  But we’re beginning to wonder what of the damage that could be done when $88-billion worth of financial happy-juice evaporates from the market…

Don’t look now, but January just got really interesting.

Why, toss in our long book on the odds of war in Korea in February and we’ll see what kind of pullback might be ahead in our update for subscribers tomorrow.

For this morning, just appreciate that this:

Looks to us one hell of a lot like this…

YMMV.  And with a lot of history still ahead.  It will be informative to see if the blockchain promoters can talk it up from here,  Just in case, we’re working on a way to make “Improved Sourdough Pancakes” based on blockchain technology.

Come on Ure, don’t be stupid!

Why?  Everyone else is acting that way…right behind it Zeus-the-Cat is planning to launch Blockchain enhanced cat food.  Says it makes him feel frisky.  (rim shot)

Too bad we’re not lawyers.  I can hardly wait for the lawsuits which will come from people selling real estate based on BTC’s if they keep dropping.  I can hear it now:  “I sold you this million dollar home and how all I have is some worthless hash codes…”

Welcome to Tulip Land, kiddies.  Sometimes the old fart gets things right…and we never changed our tune.  Remember, there is a pendulum in human affairs that often turns into a guillotine.

Bearer of Bad News

If you have a lot of profits in the market this year, you might keep an eye on things toward the close today.  Especially if BTC keeps collapsing.  The Santanista Rally’s little helper,s perhaps they’re the elves so honored by the late Louis Rukeyser, will be scrambling up your chimney with profits before the day it out.

Being in cash, we will keep lacing the cocoa with peppermint schnapps and decking the halls and wondering who Holly is.  All the while Warren Buffett’s hometown paper runs with “Recession warning is flashing, but investors carry on.”  Well, not ALL….splash of coffee?

Further Bad News

In a Peoplenomics report a while back, we did some analysis of mass shootings in the country.  The data suggested we would have another case of social outrage ala Las Vegas or Sandy Hook by the end of the year.  Stories like How to Stay Alert This Holiday Season are creeping into the news cycles.

Since we are not alone in this merriment killer view, watch your six for the balance of the year.  A prequel may be seen in “California manhunt under way after random shootings target 10 driver.” Statistics don’t like, only mislead…Our “shooting” forecast was right-on.  We just can’t take responsibility for the aiming skills of perps.

And speaking of mass shootings, this struck us as a bit odd: “Las Vegas shooting: FBI official says info on motive may take until next October to release…”  Why then?  Only thing that comes to mind are congressional elections in November…

The Daily Bash

We take some interest in watching the ongoing attacks on president Trump by the sour grapes groups that still thinks Hillary would have been a better choice.  Your

Take the NY Times story “Judge Dismisses Suit Against Trump Over Business Dealings.”  This will no doubt drive the Trump-haters wild but the fact not emphasized in the report is?

The judge making the ruling was a democrat (Bill Clinton) appointee.

Sex in the Cities: Yet Another One?

The NY Post story “Eric Schmidt’s surprise Alphabet announcement rekindles ‘womanizing’ rumors” is worth a read.

Not that there’s anything provable involved, but we’re expecting to see the term Googlizing go viral making UrbanSurvival the go-to hot-spot of the ‘net.  (Yes, you may use the term…with a link to Urban, of course…)  Or, not.

Returning to Money Matters…

…’Cuz it does:  Durable Goods report is just out. Picturize it this way:

But the market isn’t too excited:  Futures remain flattish…sort of like my sourdough….and even more like Bitcrap, which just broke $12,600 which would be like a ….um….8,800 point Dow decline overnight, lol.

Schnapps?  Nog? Well, then how about some nibbynoids…..

40 thoughts on “Santanistas Kill Bitcoin”

  1. Good morning George.
    Happy Holidays :-)
    Great job on the Urban Survival Sight!!
    So I am a test engineer for a largeish state side manufacturer. One of my responsibilities is Uncertainty of Measurment calculations for our different test systems and Precision Measuring Devices. One of the core concepts of instrument calibrations is trace back to the “International System of Units”.
    One of the core concepts of Measurement Uncertainty is that all measurements are wrong, Measurement Uncertainty tries to put a “How wrong” stamp on the measured values.
    Since the dollar is a fiat currency with its value tied to essentially nothing, the uncertainty of the value of a Bitcoin is unmeasureable. It could be 1$, or it could be $17,000!
    Something for your brilliant mind to contemplate on :)
    Merry Christmas and a Happy New Years !!

  2. I clicked through on the link to Buffett’s hometown newspaper (Omaha World Herald). In addition to that article, the next headline on that page was: “Customers of Omaha-based TD Ameritrade can now invest in Bitcoin.” Too funny.

    Thanks & Merry Christmas!

  3. I have a handful of Jan SPY 245 puts currently priced at .20 that will probably expire worthless unless my limit stop @ 2.00 hits with an overnight S&P blockchain copycat event. A thousand point drop in the Dow ought to do it.

  4. “the beat goes on…” and Ure so wrong. Failure to recognize normal, un-manipulated market action/behavior is “telling” in your entertaining, daily dose of fake news and FUD.
    The Bitcoin Blockchain Protocol is the value; all the million of hours of software development -ongoing by the Core developers, De-centralized, and corruptible and UN-hackable. Oldest, largest, strongest Anti Fragile Blockchain in the world. The intelligent investor would be looking at this current price action in BTC as an opportunity to buy the dip in another 2 to 4 days or not. Better to keep Ure head buried in the sand, never mind the future, when the past system (s) have treated us so well. Cheers!

    • Bitcoin:

      It’s slow (blockchain confirmation).

      It’s expensive (transaction fees).

      It’s vulnerable (requires a computer and electricity and an internet connection. Exchanges can be hacked. If you lose your key or hardcopy, you’re screwed.)

      And you can’t use it as money. (not widely accepted for purchases; it only seems to be an “investment” today).

      I’m not saying that some version of blockchain won’t change the world, but bitcoin isn’t it.

  5. Don’t be fooled by bitcoins downturn. Most people including me cashed out a portion of their coins last week and early this week to reward themselves and their loved ones lavish gifts for the Holidays. New money acts this way. After New Years, watch it skyrocket to new highs.

  6. My grandmother, born in 1897, got a sourdough start from her mother. My mother got a start from that, and I got a start from that. The genealogy of the start goes back at least 150 years. It is very mild and quite active.
    I plan on making it into the backing for a new type of currency…Dough Dough.

  7. The information on the Vegas shooting is being withheld to give Adelson and Wynn enough time to sell their holdings.The duo had hoped the shooting would scare the Supreme Court into not removing Nevada’s sports betting monopoly.Now,it looks as if a 6-3 ruling against them is likely.Once California gets the right to take bets,the tumbleweeds may return to Vegas.

  8. The thing about Bitcoin, if it crashes, tulip style, our lovely government will consider it necessary to control and regulate crypto currency. They’ve been looking for a reason.

  9. Merry Christmas all.

    And ponder this over the holidays: With this still another giveaway to us upper 3%, when will wealth disparity finally kill off the Golden Goose? Mike

  10. Do you suppose the MSM will blame the ultimate demise of the cryptos on Trump? Wunder who is footing the bill for the constant attack on Trump. After seeing that list of things that have happened since he got in am very impressed.

    • The reason ure impressed?
      You don’t get second and third hand news from robotic tweet and lefty repost nonsense on fb

  11. Yeah I agree Bitcoin crypto is a lot more volatile then the stock market and the rewards are higher than the stock market so people this week before Christmas or trying to pull the money out to buy cars trucks RVs and whatnot,
    And a lot of people are pulling out money to pay their taxes and the system is being overwhelmed you can’t buy or sell .
    it shut down coinbase.
    And at the first of the year it’s going to go down again cuz people are going to cell again because they’ll be in a different year and then in April L it’ll go down again so people can pay their taxes they’re late taxes
    So let’s see if you bought Bitcoin 6 months ago or 9 months ago you’d be making a lot of money a lot more than you would on the stock market and if you were to buy today which you probably won’t be able to buy today because coinbase has been shut down temporarily if you could buy today by March you should make more than you can make on the stock market all year also.
    It might be a tulip it might be a bubble but everybody wants some and there’s a mass frenzy for it coinbase is been overloaded so people just have to relax and wait until the frenzy relax a little bit and the system can come back up to par and people can start buying and selling again.
    But that’s going to happen all throughout next year it’s going to go down again and again because masses and masses of people are going to flock to it.
    So if I was good with charts I’d be charting that and charting the volume that is growing at and then when you see a sign that it’s actually going down and not because people can’t trade because there overwhelming it then I think you could be successful. At trading Bitcoin.
    I see Bitcoin going down to about 8,000 that’d be a good bye and tree because in March it’s going to go way past 25,000 it’ll probably closer to 50 thousand what do you think.
    And as long as there’s a Adam and or I should say a flock of people knocking down the doors trying to get in and can’t get in then the prices going to keep going up.
    So with the amount of people that aren’t in it Bitcoin could become worth a million dollars a share in the not-too-distant future.
    Merry Christmas Merry Christmas and a Happy New Year.

    • The original Bitcoin is a long-term savings Enterprise Bank in venture tulip bubble and it isn’t meant to be traded daily or being paid daily that’s what all the other things like Bitcoin cash and Litecoin and all these other coins therefore handling you’re small daily expenditures like an ATM card a debit card.
      So Bitcoin will not be trading as much as you think it will be.
      People will buy and hold and only take a little bit out of their regular Bitcoin maybe once a year to re-establish there Bitcoin cash wallet.
      So by the time the planet becomes saturated with Bitcoin and new forms of energy free energy become available and we’re off to different planets the Bitcoin Legacy will carry on be on the Earth I hope you like this story y’all have a good day.

  12. Thanks, George for your coverage of Bitcoin, which seems to me to be way too much like a ponzi to take seriously.
    On the other hand, since Canada has legalized Cannabis nationwide for rec use starting this Summer, take a look at Canopy growth (U.S. symbol TWMJF, it trades on the Toronto SE). Up 115% in the past 3 months and it’s the best capitalized of any of the Cannabis growers. I got in at around $7 and right now it’s at $18.30. This is not investment advice; I’m just an old deejay.

  13. Merry Christmas/Happy New Year! For me the bitcoin is too much like the election of Donald
    Trump as president – just wait, and give it a little time and you will find out exactly what ‘value’ it will be given . . .

  14. This sadness made till Bitcoin but I’m going to tell you or short note story what’s going to kill your bedroom life I take that back I’m going to tell you what’s going to make it anyway just listen for a second and I’ll tell you all right for the future instead of these robots we’re going to have beds if you’re a female your bed will automatically start doing things to you if your mail you’ll have places and Pockets to put things you never imagined and if your all the different shades in between I’m sure they’ll satisfy everybody and everything so.

    The next Innovation won’t be your sex toy it’ll be your bed. And then we can go a little beyond that and go like well we put on these glasses this helmet and now we’re into a different reality and then we go to the holographic crap here save y’all that are religious beliefs.

    Anyway I’m just showing you the things I see could be in the future but anyway may all beings be lovingly fulfills so be it dang that just didn’t sound right after what I just said that anyway.

    What you read and hear make sure you decipher to the point that you can live with and the surrounding communities so I mean you know this Earth here or discovering the majority of the population is discovering we got some terrible people in charge so go for it be careful what you wish for thoughts have wings and like George says they create things.

    • Okay I got sex on the brain but anyway remember that movie I can’t think of his name and her name where automatic after electric shock or something lightning strike he was able to read women’s mine and he was able to do things to them because he was understanding what the thoughts were when he touched them so he became the best lover there ever was.

      I forgot my thoughts let me regresar oh yeah.

      So somehow we’re plugged in or the AI is reading our thoughts I guess we could be plugged in do you have a place for us to plug it into but anyway the AI or either we have advanced enough to read each other’s thoughts to the point where we are like that movie where we know what that person wants that that second while we’re touching them what they want next to give them that thrilled that they need and that’s vice versa course to have complete knowing ecstasy at the sea between.
      Two people so that’s the future because you know she didn’t know as in the movie that he was reading her mind and giving her everything that she thought she would like to have so now we get to the point where each other is reading each other’s minds gosh can you imagine that we’re reading each other’s mind this is what the other person wants.

      So this is the direction that the new establishment a I included wants to take us.

      It all sounds very interesting but I like back to the basics you know.

  15. Okay they have assassin’s out there that are ready to take out anyone who confronts them so how do you beat the matter game.
    you hire assassins to hit them first.
    and most of them would do it for a dollar just to get back at them.

  16. Governments will never allow unregulated currency – never. They want the control and so will either outlaw existing and generate their own or they will co-opt the existing whales. Big banks are the same, as they are tied directly to government action by paying off our Congress and officials.

    I still think this is the path of least resistance to going all-digital with currency, giving government complete control over all financial activities.

    That may be in 5 years, maybe 10, who knows? But the tech is there to make digital currency happen, and with quantum computing on the horizon, government will be able to upset (crack) the block chain at will. They may be ale to do that in Utah already, or at The Farm – who knows what resources they actually have at either place.

    All digital currency is beyond hypercomplex, and will require internet never going down. So, is it really doable? How can that work in a world where most people can’t even get reliable internet service?

    • I believe there’s a free internet service through the satellite system For people with minimal data needs.

      • I got a friend who uses free cell phone service the number comes from Canada but they give you free cell phone service as long as you got the phone you can look it up on the internet Google it download it and they give you a number I don’t know why but they do and then you have a cell phone number free long as you got the cell phone

      • And I believe that is not true. Some people are trying to make a free terrestrial mesh network – and have been trying for almost 2 decades.

      • Wow…from past visits with a friend who’s a retired deep water engineer that designed offshore oil rigs.
        From his descriptions of the sheer size of the components used in the build in of the rigs. that thing has to be huge.

  17. I’m tired old dude. I was told that it is impossible for me to die.. I have smoked them all .. I don’t know what to think anymore. I can give you the next 3 years.. maybe I do, maybe I dont. I’m sad. With the ‘site’ comes great affliction. I can’t anymore. That is where i am at. I’m so very week right now.

    After 10 N DE’S. I’m stuck in this world. Ugh…. I can see it all unfolding. It is going to be bad. I’m sorry. Even the comfort 0f a woman doesn’t help. I will think about it. But the end is soon.

    • I have the attention of the higher powers but f*ck it ain’t easy being me. I don’t know why I can’t die. I just don’t. I’m drunk and I’m sad old dude. I’m out with 5 hot ass chicks. All the dudesat the bar are buying them drinks and they are buying me drinks. I got banned from glp. F*ck em…. they all want to be the anomaly. And I just wanted to serve God. I feel like I have failed. I know the future.. but I’m sad.

      Good night old dude.


      • So you are ‘smoked’? If the end is nigh, isn’t it best to hang around to see? ;)! Cheer up, it’s always later than you think.

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