Coinbase Flubs Launch of BCH



three you guys start one two three good morning everyone and welcome to another edition of the morning brief with Jimmy song and tone bass my name is Valentin Schmidt and obvio host for today and we have a couple of super exciting stories for you including one very interesting one an article published on hacker noon where somebody did some calculations and said that if everybody activated their sacred addresses right now then the tempo would basically be 0 because the improved transaction protocol could handle all the transactions on the network Jimmy you take yeah so this is a great article for a lot of the people that are newer to Bitcoin if you haven't been in Bitcoin long and you're watching our show I would suggest you read this and do exactly what it says take on an ownership of your coins and start using separate addresses because you're going to save money the mempool is pretty high right now we'll get to exactly why that is in a bit but you know get get yourself your own wallet and start using Segway because that that will save you money and it's it's in your own best interest and it won't be confiscated if you have it in your own wallet and that's that's really the key here is that you you need to learn how to be a sovereign individual through Bitcoin yes basic rule unless you have your Bitcoin off the exchange and in your own wallet preferably a hardware wallet you don't only on Bitcoin tone base yeah no I I really like the article and people are saying that the numbers that he's using are very very optimistic and it assumes like you know perfect scenarios for I mean the the least amount of data inside each Bitcoin transactions so yeah so so even if the numbers are a little bit on the optimistic side people always miss the point of the article and they always jump on the little minor insignificant details right the point is that if bit court that if segment tration was 95% instead of 5% we would not be dealing with these high fees or high transactions but we are fighting against a centralized group of people that are trying to you know turn Bitcoin into PayPal and they want to have their own private coin which is why they're pushing d'caché and we'll get to that in the next story actually is not exactly the next story we have another little warm-up before we get to the big one and that's we talked about the USA luge team they won at the nation in Bitcoin they gave us a shout out Jimmy saw at tone ways they thought Bitcoin BK can become the official sponsor and now they've given some targets how much money they need to do what for example five Bitcoin they will put the Bitcoin logo on the luge team hats and you can then buy those hats or in the merchandise shop Jimmy yeah so I like these targets I love you know 21 million BTC we find Satoshi and get him on a sled that's kind of funny I would like to see some sort of a donation address so we can all like keep track of how much has been donated to the USA luge team you know five BTC you know you get the Hat ten you get the patch sewn on the thing apparently they're everything they can do sponsorships everywhere except the Olympic so it's a little bit unfortunate but hopefully like they can have some interview after the Olympics or something where they could show their nice Bitcoin logo anyway this is sort of a fun way to participate in the whole Olympic experience and you know they'll be in Pyeongchang and of course Bitcoin will feature prominently in Korea so the yeah this is like kind of a fun thing thanks for the shout out guys and hopefully we get we get some donations to USA luge tone yeah no this is great you just need a Bitcoin address make sure it's a segment address please guys ah yeah get a cycloid a Bitcoin address so everybody can see the donations coming in and which metrics are being met I think a cool way since they can't put all of those logos and stop during the Olympics would be awesome if they you know put out like videos of them training and like practicing with dot stop oh that that's a that's a great idea tone I want to see that yeah so so that would be great maybe maybe a shout-out to you know like all the people that donated Bitcoin during their training videos before they before they jump on that I'm under luge things like that yeah so there's lots of things that they can do to like kind of help promote this even further okay one important thing they should not do is take the cash as a sponsorship because it's a complete and utter disaster a two exchanges coinbase and GDX they finally after five months or so enabled be cash deposits and trading and both of them had to halt and we're gonna talk about this in depth because it's it's a big story and we have the big cash palm up forty percent or so and we have a man who is spam so it seems that the be cash pumpers they always take these big news as an opportunity to pump the price tone whatever why don't you go ahead on this one yeah I believe in my tweet I for this morning I wrote you know coinbase and G Dax and then in parentheses the show goes on but now with the cash I mean the the incompetence of of coinbase and that organization like knows no bounds and last night they launched their D cash sale the order book was super thin clearly they were ready someone tweets at me a picture that be cash is worth $9,500 on Qi tax and everyone is now rushing to sell it to make money from that and and all of a sudden it goes down what are they launching this thing again in about two hours it's gonna come back online yeah yeah it's anyway the thing is gonna be crazy and what they're not going to let you saw it right away they want to make sure there's enough or something like what's their plan what one hour to allow liquidity to be established so at 9:00 a.m. Pacific Standard Time bch markets will enter post only mode which means that you could put in orders but nothing will set no nothing will actually trade for at least one hour because they want their order books to fill or – why – to get populated not fit I would love to see who is actually planning to buy this stuff on jitta X because I don't know Jimmy if you have the Twitter handles to that polled I thought somebody bid that was and I thought that was hilarious did he have that one I don't have it on me right now here let me see if I can go grab it give me one I have the link in our arm yeah so that's there we go let's show you what Tony's talking about this is crypto horn hairs when G Dax comes back online BCH price will pump or dump dump is gets 100% and that's 4000 votes right that's not that's a decent sample size and it's funny how people are complaining that he hacked Twitter and really the the poll now some might suspect that's a picture but if that was a picture you would be able to click on it and zoom in on the picture which you clearly can't do so that's a legitimate poll what that tells you is that less than 21 people voted for pump out of the 4,200 than you are so that's I don't know we'll see like honestly I turned off my internet last night I didn't want to deal with this nonsense I mean I was out anyway but like that this is ridiculous I don't know you have any other comments on this I mean we're gonna talk about you know the coordinated pump of B cash in a minute but Allah should have something else to add Jimmy well I mean I I was out at dinner with a bunch of bitcoiners here in Austin and we we were watching as it like this this was big news everyone was like watching like the Bitcoin cash price and everything else but it's you know there definitely seemed to be a series of interesting coincidences if you will obviously the mempool was going up yesterday significantly and by the way these are the bands that dropped off it's largely because there's a mental limit of 500 megabytes and those have dropped off for that reason but yeah they're there's been all of these you know new transactions coming in somebody knew something is is my guess and and when when it was announced that Bitcoin cash trading is available in G Dax certainly seemed like something was going on like you know Bitcoin cash price was going up all day before this new so people knew about it or at least somebody knew something was gonna happen so you know that that was obviously one thing and then you had this abrupt stop to the exchange launch and you know you can see that the order book was frozen at like $8,500 per Bitcoin cash it's trading at like 3,500 to 4,000 pretty much everywhere else so this is a massive arbitrage opportunity if you could have gotten in but you know I mean coinbase G Dax yeah they they completely flubbed this thing from a technological standpoint I mean like how can you launch something and have have everything crash like a minute later did you not do any testing like what's going on with these people like you gotta you gotta at least test this stuff I mean you did you did you at least have an idea of like the volumes that would be I mean like you announced it a few minutes later it's online and then it crashes okay good job you just proved that your back-end is can't handle any of this stuff or you have some catastrophic bug you don't have unit tests or testers or I think come on guys like I I complain about coinbase a lot but this is like this is taking it to another level I mean if you're gonna coordinate and you know if you're gonna have insider trading which I somebody had and I don't know who but somebody was pumping the price all through the day before and you know it's up like 30 30 40 percent before this news happened so somebody knew something and and all of these people you know like if you're gonna do something like this at least be competent enough obviously they they halt their trading and they they are they they're trying to I'm sure there's a bunch of sres at GE x and coinbase that are like that are trying to fix things right now and they gave like a 9:00 a.m. Pacific Standard Time open and they're going to have this order book go for an hour my gut feeling is that this is gonna be a lot like what mal Cox was like in 2013 April 2013 where they would come online for like five minutes and then like they would get overwhelmed with orders and then they would shut down I mean the level of technical competence required to run something like this and the volumes that they should be expecting I don't think they're gonna be online for very long but who knows maybe they'll have fixed everything and they they will manage to stay online for longer than five minutes yeah I the this whole thing it just something reeks really bad just the amount of pumping that Bitcoin cash did in in the hours before their announcement the amount of you know transactions that seem to be added to the mempool high high fee transactions on top of that to make it so that it's very difficult to transact unless you pay very high fees it just if something feels very coordinated to me and and you know a good time to sell some Bitcoin cash I guess I mean I don't know what do you guys think well I don't haven't you to sell I sold all of mine long ago I sold all my be cash long ago and it's amazing how many people are now like blaming me for them selling there be cash which is borderline I'm funny to me anyway because we catch the scam coin if you wanted to hold on to scams you should have held on to scams right also I give free advice on live YouTube every day consider my advice worth the amount of money you are paying for this advice and even if you call me for a prop privately I don't give trading advice guys I give education advice and the education is very very simple alright um the reason why I support Bitcoin is because I believe in the technology behind Bitcoin which I refer to as the blockchain I don't know what you guys refer to us the blockchain but I refer to the technology behind Bitcoin is the blockchain I trust the people that are developing this technology I refer to as the blockchain and this group for now is known as the coin core which is a group of a hundred different developers many more than that actually but yeah yeah it's I think it's it's it's closer to 500 and number of people contributed even better and all of this other crap are in the crypto space I haven't seen any technology they are worth a damn and the majority of it is straight-up scams and the other small majority of it are just dumb projects run by incompetent programmers so I have no reason to support nor promote anything that I believe is technologically incompetent this is why the proper thing to do is to sell incompetent scam coins as soon as you can because otherwise you're supporting bad technology and it gets worse when you're promoting it on national television so if we're ready we can flip screen share and I'll get to that unless you want to say something else Jim well I just wanted to show that it was pumping like right before all this stuff was always being announced you can sort of see the pump and and and it was happening you know more or less throughout the day yesterday before this announcement so I it's it feels like somebody knew what was gonna happen and they tried to trade it and then you know gee that sort of fell on its face and oh god what a face plan somebody always knows I am yeah even in regulated markets we can actually go to prison for trading on this information people always do when it comes to our crypto markets there's no such thing as insider trading so of course people are gonna know the information ahead of time and they're gonna act on it now also there's no such thing as insider trading of currencies but we don't know what bitcoin is right Bitcoin isn't exactly a currency an unregistered asset right so it doesn't really have a category so because it doesn't have a category there's really no such thing as insider trading nor is there a regulatory body that's gonna go after anyone for any of the stuff you can totally trade on insider information this is how all of these old coins work from the beginning this is what a ICO presale is I mean that's what these things are there there's a no-one is regulating this stuff so you can perfectly do it and profit off of your users there's nothing wrong with that legally yeah I mean it's it's just yeah I know the whole thing just reeks of some coordination and obviously there are people going on TV today to you know talk about this stuff so they were trying to set something up I'll be watching very closely and you know this this yeah the whole thing is just kind of crazy so to sum up and we have seen this before we have seen the men who spam we have seen the be cached um last time there was a big announcement that was in November when the 2x got canceled we had a huge massive pump in be cash Bitcoin price went down men who were spam so we see that again we have a big announcement to me saying people have front-running that or they've been from pumping that because the the last question I have regarding this is why and when the exchanges open G Dax and coinbase the price goes up where everybody said once they open everybody's gonna dump their coin something well people try people tried to dump their coins right they couldn't because I G Dax shut it down right well I mean they couldn't handle the volume but everyone I know of was running to login to G Dax to sell their D cash at $1,000 hmm the Ola was able to do so as far as I know except Charlie me apparently well he had the coins right on there and I think soon as he got the announcement he just he just clicked sell something like that so so you would say that once everything works smoothly there will be a lot of selling in the price probably correct I I have no idea I mean a lot of people are new on coinbase this is the thing that we need to understand they're getting like ten to a hundred thousand new users every day they log in they see Bitcoin cash and Bitcoin bitcoin is like seventeen thousand dollars Bitcoin cash is like four thousand dollars what do you think they're gonna buy right like well it's actually worse than that Jimmy from the screenshots that I saw of corn-based they actually listed Bitcoin cash ahead of Bitcoin so if you are looking to buy something from coinbase your first option is Bitcoin caps your second option is Bitcoin your third option is aetherium and then I don't know ripple or you know one of our other big connect or whatever all the scam they're selling on their next and behind theory and I'm not a bit sure yeah I mean I my gut feeling is that they don't really care that much about Bitcoin they they just want to make money off of it and and you know they don't feel the need to contribute to the community in this particular way they'd rather pump Bitcoin cash at this point but we'll see we'll see how that works out for them okay we're gonna keep covering that story next one a small one but a funny one is the is the fork generator so as you can't be bothered to program your own heart for it and website here for Chen tag and you can basically it programs your own heart Fork good luck with it if nobody knows about it but at least you can do it yeah so this this was made by I think some some people that felt you know did that wanted hard Forks to go away so they made it super super easy so that the entire heart Fork landscape would just go get flooded yeah you can you can get the binaries and source code port four point zero zero five Bitcoin there may or may not exist some coupon code if you know some people I've been told that hey Jimmy if you want to do one let me know I can get you a coupon code yeah so there might be a Bitcoin Jimmy at some point in time maybe even a Bitcoin tone or a Bitcoin Valentin but yeah the idea is you can make hard fork really easily and and you know I I don't know how that would play with everything else certainly there's you know there's a lot of interesting things like you know you can set your own pub key address prefix script address prefix script secret key prefix angle of logo this is hilarious right like one of the things that Bitcoin cash did was I think they tilted the be and Bitcoin cash to to be a little bit more or something like that so that's kind of an inside joke and they taught it in the opposite direction yeah yeah so degrees yeah so so you could do that right like you can you can do apparently if you only move in one degree that it costs you more money so yeah lots of lots of stuff here yeah I'm looking forward to more hard Forks yay okay tone are you looking forward to more hard Forks uh only if they're worth more than five percent of the value of a Bitcoin I mean that's my personal limit or when I take my Bitcoin article storage right so I believe Bitcoin gold is now back up to two and a half percent so keep pumping that one so I can sell it at five percent above I mean that was my limit I was happy to sell all my B trash at ten percent of the value of a Bitcoin I am happy to sell any of your heart Forks at 5% of the value of the Bitcoin that's my personal limit so if anyone wants to hard work and give me five percent go for it so you're okay with it if you can make money tone are you okay with CNBC fast money Twitter being run by somebody who is not employed by CNBC oh yeah that's an awesome one hey well panda shoutout man I mean this is just like it it's not even like investigative reporting that that that was crazy like seven people should be doing this right like whale pen this should not be the one doing this but uh no CNBC fast money look it looks to be grossly incompetent here it's very very obvious that whoever this I gabby is she should not be employed by CNBC fast money because she very clearly handed off the Twitter handle of CNBC fast money to her husband who is all over the big B cash scene pumping it up so we'll see how far this story goes please do some digging please start investigating I mean and we'll see it's not even that obviously this is not a conspiracy theory but let's go even further hey Jimmy so click on click on the link for the Bitcoin cash fund right I saw it a little bit lower alright you scroll down just scroll there it is there it is there it is yeah I click on that uh-huh right so that's the Bitcoin cash flow is there a link to that oh there isn't okay I have it on my screen share see if you go to the Bitcoin cash fund you can go and take a look at what it is and you will see that Paul is basically one of the founders of this thing and it's a pool of money specifically designed to pump B cash and you know played basically the pump B cash over a Bitcoin and this guy is clearly in control of the CNBC's Fast Money Twitter account yes to make it to make it clear this Gabby wasn't Stein she controls the scene be fast money Twitter her husband Paul Valentine he's involved with the ecash fun but he doesn't work for CNBC and went under made it pretty clear that he does use the Twitter though right correct and this is why the be cash agenda is being pushed all over CNBC well I guess the fast pony show but CNBC in general right that's the financial show so if everyone on that financial show is somehow involved or potentially in some way being compensated from the Bitcoin cash fund which is specifically designed to dish out money to promote be cash let's see maybe there is a serious investigation that could take place with what it is CNBC Fast Money is pushing talk about shows I don't how I no longer have an interest in in appearing on because it's clearly ultra biased and it's so freakin obvious so don't you think it's interesting that we have all these centralized figures cheerleading for be cash CNBC Roger we're be cash fun and the only people who are promoting Bitcoin core are the little people like us for example and the people on Twitter a cheerleader for Bitcoin core right Jimmy yeah I mean that's a good thing I don't I don't I don't want a leader I don't I I don't want this to be a place where you know like one person can go on CNBC and pump the heck out of it I I want the people that are knowledgeable in our community not the people that are trying to you know get a quick 20 percent return or something like that over a week like I those people can go to Bitcoin cash I'm fine with that like that's like please go a go if you want like short-term you know three-month returns or something like that go go trade all coins to your heart's content you have my blessing go do that one in three days ya know what it whatever it is I I'm it I'm in Bitcoin for the long term I think tones in it for the long term Valentin you're in it for long-term where where we don't we don't want to trade I mean I know Tony Hawk's trading but I mean for the most part he's a holder all right wait we're we're here to make the Bitcoin ecosystem get better we're here for the revolution we're not here to make 1020 percent you know like trading and then like lose another 10 20 percent rating and then you know whatever that's that's not what we're about and this is not what bitcoin is about at least in my opinion and if you're in it for that please go to Bitcoin cash go tray to your heart's content like III best of luck to you but I think you'll be back in any case but do let us know before they pump it the next time although we won't buy it to it we may not pronounce it and see what happens yeah so that's it let's go to the price maybe you can look do you want to look at the cash for a second and explain the pump there or I mean I there's really not that much to explain there but just to close out oh yeah so besides this poll there was another really cool poll from the same person i retweeted it and it's like if you were to be given $10,000 in cash or indie cash but you could not access it for 10 years would you take the USD or would you take the B cash obviously you see where I hold it for because I don't believe that be cash is gonna stick around for ten years I don't I didn't expect it to stick around that long but it looks like the majority of the people voted would rather take the u.s. dollar versus the D cash what do you think this code would say if this was Bitcoin for ten thousand and Bitcoin versus ten thousand and USD so just think about that right before you start saying how great D cash is well Ron Paul had a call a similar one asking his followers whether they would prefer gold USD or Bitcoin and they all said Bitcoin yeah yeah Bitcoin one now one final note on a Bitcoin cash fund just so I can since i'm screen-sharing i just so you can see there are founders I guess the board members or whatever and you can see the visors that are involved no surprise ah boy right no no nose no surprise there and and the thing is so so here's a little investigation now I tried now I'm hearing rumors that there is a potential data what it called Brian Kelly is somehow involved which is why he's pushing P cash but I cannot collaborate this at all because I am blocked from his Twitter account which is why I can't even search it so I don't even know what when you get blocked I can't even search for the people so I I know I called them out for Schilling D cash on CNBC which is why he blocked me on Twitter so those of you don't have access to his Twitter account please take a look if he's a he's obviously not listed on their website but if anyone can take a look and see if he is or isn't involved in this Bitcoin cash fund that could also explain a lot of that a lot of the things that are happening with CNBC's fast money and why it's just you know completely ridiculous over there alright let's go let's get to the price I did pull up the price of B cash I mean this is the daily chart I mean I I can't do ta on this right like for two reasons one I know it's the scam coin so what's the point and two I mean what am I looking at here right I mean this these are daily candles this thing went up on a reasonable amount of amount in a day if you were using my indicator to trade this your long entry at first would have been right here based on a daily chart am i drawing this thing or what you our initial long entry if you were trading this I mean you had the MACD crossover but that's kind of irrelevant your initial long and she would have been here you would have exited your long trade and considered it you know bad when this red one came around so this would have been you know I a break-even trade up or thereabout and then your next long entry there was no short entry and then your next long and she would have been right here and I don't know how profitable this is going to be right because look at this candle and the day is just starting right so for all we know this thing could end up here at 0.5 or it can end down here below point 1 right so who the hell knows ng tone can you pull up the last pump because we had a crazy candle like that in November when it went up to 0.4 T and then it closed – yeah the blow-off top yeah yeah right I mean you have one of these situations if I throw my indicator on it let's see if it would have helped you I mean sure it told you to enter your long trade right here where this red line is I guess I'll color in green that was good where did this trade tell you that it's over well since it never made it to a nine it told you that it's over right here unless you took your profits I mean you can take your profits anytime you like and you know no one's stopping you so and look what happened after that pump right all of B cash trolls just shut the hell up the moment this was happening and then they stayed with their mouth shot all the way into here until it made it all the way back to only seven-and-a-half percent of the price of a Bitcoin and over the last three days they all come out of the Woodworks again because of this coordinated pump to pump it through coinbase which are big friends of B cash along with you know spamming that Bitcoin man fool with IP transaction and this and the last time was basically eighty percent correction top to bottom point forty five to twenty seven what well what people have to realize how I'm sorry for interrupting you but what people have to realize is this right when you have coordinated organizations that are are strictly around to promote Bitcoin cash the best way for them to promote Bitcoin cash is to try to make Bitcoin unusable right so you don't have a coordinated effort to make be cash unusable right there there is no like tool of Bitcoin that people are using to destroy Bitcoin cash that's basically people like me trying to explain the reality of the situation is Bitcoin catch useable I don't know do people use it well not for anything I mean if you want to buy a minor from bit main right I mean that's the currency that they accept that they accept but but the point is there are actors actual money behind propping up be cash and crushing Bitcoin there is no clue of money to do the opposite of that it's basically like our youtube channel world crypto network you know and maybe like to other like whale panda right I mean that's all we pretty much have it's literally like a grassroots movement because companies like block stream and chain collapse are too busy programming innovation for dica for Bitcoin without B cache copies and plays off as a zone by changing one variable right I mean while they're using all of their money to coordinate coordinate coordinate attacks on Bitcoin and prop up B cash on national television so this is what we're dealing with and we're gonna be dealing with it for a while the beauty of it is the technology behind d'caché is pure garbage which is why it's only gonna end in tears while bitcoin continues to innovate alright let's get to the price of Bitcoin unless you guys want to comment well I think if you look at the four hour on Bitcoin cash that would have actually been a lot easier alright so in the entry in stuff sure sure why not alright fine I exit right so so he so here's the indicator that you know like again if you like why are you only using this well because the only thing that's useful especially in this ship well here you go if you were holding this be cash you the 4-hour chart gave you a selling indication right here which usually leads to a 1 to 4 candle correction and then higher so the moment it started going higher where was your bullish entry in to be trash while you're bullish entry as a trader in to be trash was right here the moment the candle with a green number on top of it started trading above a candle with a prior green number on top of it that's why you don't enter on this candle with the 2 you enter on the scandal with the 3 so your entry using the 4-hour chart was right there now what happened to the stripe well this trade told you to sell right here on the 9 for once again a 1 to 4 candle correction than higher the correction was only one candle I mean no no one stopped you from taking your profit there so what's happening now well right now once again you have a green number trading above a prior green number which if you are a d'caché trader that is your wrong position I mean look I'm being unbiased here I'm just looking at the candles it irrelevant to what the asset actually is like this could be horse when you are I probably prefer the thing is with the coordinated pumps though because they don't reflect normal market movement and that doesn't make the technical indicators slightly less reliable I'm sorry my Azalea so because the coordinated pumps they don't reflect normal market movements for which they indicate as a program that suppose that's supposed to be irrelevant right I mean the indicator does its best job to tell you want to want to enter and want to exit regardless of news right like it doesn't it doesn't have the capacity to factor in the news right own news but coordinated pumps yeah yes I I think I mean basically this indicator did very well on the 4-hour you obviously had a lot of profit you could have made over there but yeah I mean I mean again here's the here's the one-hour chart one hour look a little more messy but there was a blow-off time one hour is generally messy so if you look at this last one that actually made it to a nine again it tells you to take your profit on a nine most likely outcome is a one to four camper correction than higher if you recognize that the ones who for candle correction is ending and it's going higher when do you get in well sure you get in when a green number starts trading above my agree number when do you get out well you get out whenever you feel like it if you're able to catch the top you get out when the price flips telling you the trade is no longer successful but in this case you're still getting out with a profit or you get out on a nine which we didn't get right get out and you make a hundred percent in one hour in the current situation based on the one hour chart are you long or short be trash while you're long right because the moment this candle with a two on top of it started trading above a candle with the one on top of it you're back and do a long trade on each other I mean we'll see if there's a further coordinated pump later today but it certainly looks like it's happening what we'll look well to be honest like it makes perfect sense why be caps with pump like crazy right now right because if you can go out and buy be cash at a price of like three thousand dollars on other exchanges if you can move that at the coin base you have a you you might be able to sell it at a higher price right maybe maybe yeah alright so it makes total sense would be able to be buying up this stuff on like baloney acts try to transfer into your coin base account that try to be the first guy to sell it because it's gonna open up like 8k but I'd but it's gonna be down to the fault there's gonna be down to like you know three K within minutes and it's probably gonna undershoot mm-hm or overshoot however you want to call oh man my battery starting through are now so before your battery runs or can I go to Bitcoin sure so Bitcoin again the weekly chart is still looking clean but the current weekly candle the week is still ongoing so we'll see how the week ends the week is still bullish but starting to get in a little bit of trouble now here is the daily chart so again following the same logic the daily chart gave you a bullish entry right here at the price are at current price of around 17,000 dollars now the exits were gonna be either a nine or a price flip the price flip took place yesterday that closed on a price flip your your daily chart is no longer in bullish stance on is there a short trade on the table based on daily charts well sure right at current prices right the moment on this candle with a red to started trading below the candle with a red one technically that's a short trade if you're daring enough to enter short trades on Bitcoin which might be even dumber than buying the cash but hey people can go longer short here's a 4-hour chart this is what I was expecting with my arrows clearly the Oh clearly my bigger cash coordinated pump put a little ringer on that yes in yesterday's video I'm pretty sure I said well the short trade using the four-hour chart took place here where is the exit from the short trade well in about 20 minutes right when we're going to have a nine we're probably gonna have a nine at least our time of the next candle so that would give you a potential exit on this short trade which was fairly okay in Bitcoin please go back to yesterday's morning video for more details and finally on the one-hour chart we do have a 13 here but the 13s haven't really been very useful in using this indicator on kryptos at least in my experience so I wouldn't put too much stock into this but is that what's the current trade on Bitcoin using this indicator under one hour chart well once again it's a short play right because you just got a candle with a red number trading below up by a red number so currently you're in the middle of a short trade we're about the last trade that the one-hour chart gave you well sure you had this candle right here so either two or three so whichever one you prefer the moment a candle with a green number started trading above a candle with a five green number where was your exit well you can exit anytime you like with the profit or you can exit if a nine would of calm which it never did so your other exit is right here the price flip okay we're on the scandal did you exit if you're exited at the bottom of the candle you made a cup of coffee if you exit at the top of the candle you probably made a little bit of money okay so this is this is you're using this indicator to trade one-hour chart you're about to get a def cross which is bad also look how this came up and hit the moving average which is also you know traditional training your Magdi you are a sigh your Rs I never made it to over a board but if you zoom this out I mean there's plenty of traditional trading you could have used right I mean look at this falling below the 50-day moving average using the 50-day moving average as resistance using the 200 sorry the 200 our moving average your support you broke below the 200 our moving average it collapses it comes back to retested this is actually the perfect time to short any asset when it tools back into the depth cross it creates a perfect shorting opportunity we're about to get this def cross on Bitcoin in I in the one-hour chart and you know this is going to make this red and there you go because my battery is gonna die in a second so I'm gonna hand it back to you guys for your closing statements closing statement sounds like we the choppy for Bitcoin at least today and maybe the rest of the week thanks a lot tone for price analysis Jimmy thanks a lot for watching everybody Jimmy last words well this song is done

21 thoughts on “Coinbase Flubs Launch of BCH”

  1. Tone, the CFTC has insider trading authority over cryptos because they are commodities and therefore covered by its general antifraud rule 180.1 – similar to the SEC's rule 10b-5.

  2. I like how Tone says that BCash just copied the code of Bitcoin without much change, and in the very next sentence is how their technology is garbage which would logically imply that Bitcoin tech is garbage. Oh, holy wars and their holy warriors…

    Now, Jimmy says again and again that the interests of crypto-businesses do not correspond to the interests of hodlers, at least not in scaling debate. Obviously, hodlers won in promoting Segwit over blocksize increase, but did we win as a Bitcoin community? Now businesses do not implement Segwit (surprise-surprise) and promote a Bitcoin fork diluting the brand power of Bitcoin. Today I see Bitcoin fees at 800 sat/b, what's up with that? Scaling problem is still there but instead of a debate we have a full-blown war with channels like Jimmy's dedicating 80% of their videos to pointing fingers at other party's sins and failures.

    As a BTC hodler I am not sure I like where this is going, guys, despite the price rise and all…

  3. So much fear. So much cognitive dissonance. 'Cypherphunks' calling for SEC regulation. Laughable.

    Guess what – people want to TRANSACT their currency – wow crazy concept right?

    Also, Coinbase API leaked 2 days before, and CB have talked of BCH integration since the fork. So much whinging.

    Take Tone's advice, and do the opposite, you'd be a millionaire by now.

  4. Jimmy. I'm in it for the long term. From my perspective, you are a newbie. The elders are taking bitcoin back. The honeybadger finds a way. This time, the honeybadger had to take a very long route around. Because the Core was corrupted. It set bitcoin 2-3 years back.

    But the honeybadger doesn't care about time. We are getting there.

    You are too smart and informed to not know that Bitcoin Cash has many dev teams behind it. Yet, you don't debunk Tone's claim that Bitcoin Cash is 1 person.

    So you have to be a liar. You have a secret agenda. You make yourself a target to early merchants (not me) who lose money because you contribute to hold bitcoin back.

    We have to clean up the mess from Core. Replay protection. Bring back OP codes. New address format. Adjust the DAA. Remove SegWit and RBF. Rebuild the ecosystem of merchants. Make Bitcoin Cash Again. (The exchanges is the easy part.)

    We have grey hair. We clean up. We have to set it straight.

  5. lol These guys don't care about you they are fundamentalists bent on $BTC no matter what and don't be fooled when the boat sinks and it will they won't be affected. Sell some of your $BTC and put it into something better. BCH is a good hedge right now and $XRP is the best way to move your crypto fast and cheap and even store it there. Way better options than Hodling your BTC at this point.

  6. Insider trading at Coinbase? Let me guess… Libertarians defining themselves with their deeds, not their BS.

  7. Sure, switch over to segwit addresses. Try it. See what fees and wait times you get. BTC is a clogged mess.

  8. Thank you for the heads up segwit wallets that I have are the Ledger Nano s, green address and ninja wallet all support segregated Witness and will clear that mem pool pronto.

  9. The Siphoning has started:

    Some major exchanges are showing BCC & BCH flowing into BTC

    more so than BTC flowing into BCC & BCH by a wide margin

  10. Jimmy, I like your guy show but why is your cohost so bias? Very unpleasent to watch when he constantly trashes the other sids.

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