PeterMosesLee

peterbllee@bbs

Copied to clipboard

I was in the accounting line for decades but did poorly because of https://bbs.market/MEMORE/posts/dUw7bXuAZfNcr01XoBUO Recently I changed my career to become a ✍️writer so that I can work slowly without irritating bosses

Posts

11Followers

5Following

Price of Bitcoin before and after Halvings

Bitcoin started 2023 at $16,605. The market expectation at that time was bearish and there were analysts who predicted that the price will go down to $12K or $10K. Although Bitcoin had its ups and downs in 2023 the bearish analysts were wrong as Bitcoin rose during most parts of the year to hit $34,154 on 26 October. After another pullback it closed the year at more than $40K. If we look at the movement of the price of Bitcoin, we can see that it moves in cycles of 4 years that follows the halving that occurs once every 4 years. The date of each halving is not fixed nor is it at exactly intervals of 4 years. Halving occurs each time 210K blocks of Bitcoin has been mined. Since the beginning of Bitcoin, this has taken roughly 4 years each time. The term "halving" Is because the number of Bitcoins received by miners is reduced by half each time a halving occurs. The number of Bitcoins received by miners was initially at 50 and was reduced to 25 in 2012 when the first halving happened. At subsequent halvings in 2016 and 2020 the amount of Bitcoins awarded to miners was reduced to 12.5 and then 6.25 respectively. In the next halving which will take place in April 2024 the amount will be reduced to 3.125. Each time a halving occurs the supply of new Bitcoins coming into the market as they are mined is halved. It is this reduction in supply that cause the price of Bitcoin to rise with each halving cycle. The price of Bitcoin does not increase linearly tied with the timing of the halving ie. it does not increase immediately after a halving occurs. Generally. It takes a while for the effect of the reduction in supply to be felt. Another factor that affects the pattern of price changes is how the market tends to anticipate changes and price in ahead of the anticipated changes. This pricing in ahead is the basis of the saying "Buy the rumor and sell the news" An example of this is how the price of Bitcoin moved with the approval of Spot Bitcoin ETF's. Before the SEC approved the ETF's prices rose in anticipation of the approval. After the approval and the ETF'S started operating, prices fell. But after the effect of the increase in demand of Bitcoin when institutional investors started buying is felt, prices started to go up. Based on  the 3 halvings so far, the pattern is as follows: Price rally in anticipation of a halving but the rally will falter and there will be a period of pullback. The prehalving rally restarts and price increase again. After the halving prices consolidates and it has already moved up ahead of the halving. The effect of the reduction in supply accumulates as supply of new Bitcoin is less than demand. This causes the price to go up. This cumulative effect leads to a new All Time High 1 to 2 years after the halving.  The cycle then repeats Based on the above pattern we should be roughly in the period of pullback before the prehalving rally  In what we have seen so far with the halving that will take place in April  2024. the price of Bitcoin is behaving very differently.  Instead of the price pulling back we have prices rising strongly.  It looks likely that a new ATH will be set before the halving occurs instead of at least 1 year after halving.  WHY IS THE PRICE OF BITCOIN BEHAVING SO DIFFERENTLY FROM THE LAST 3 HALVINGS?  SHOULD WE BE BUYING OR SELLING BITCOIN NOW?  WHAT SHOULD WE DO POST HALVING?  I look forward to your input on the above questions.  I will make a follow up post to explain what I think is happening and what I intend to do. 2y

CryptoVillage

February 2024 was a crazy month for Bitcoin.

February 2024 was a crazy month and in particular 28th February a crazy day for Bitcoin. Bitcoin opened on 1 Feb at $42, 580, hit a low of $41, 890 and closed that day at $43, 681. Nothing dramatic. Yesterday on 28 February Bitcoin opened at $57, 049 hit a high of $63, 915 and then crashed to a low of $56, 705. From the high to the low, a drop of $7, 210 or 12.7% .Not the worst day for Bitcoin as it has been  known to drop by between 20% to 30% within a single day. What was special about the drop yesterday was that most of it or about $5,000 from the high to around $59K happened within 15 minutes. The is reason for the sudden drop of $5K is because of the crypto exchange, Coinbase but there is  speculation over the reason for what happened. The price of Bitcoin increased by around $6.9K and was approaching $64K. Volume was heavy with FOMO or the Fear Of Missing Out by retail investors (which had not set in so far in the current bull market) kicking in.. Sustained FOMO could cause Bitcoin to breach its All Time High of slightly below $69K. The system of Coinbase crashed. Was the crash because of the system could not handle the huge volume of buy orders being made and new investors trying to open accounts? Or was it a deliberate kill switch? It is unlikely that Coinbase will admit that it deliberately stopped trading. In the past other exchanges and Robin Hood have supposedly crashed during periods of high volatility.  The strength of the market can be seen from its recovery from the low of $56, 705 to close the day at $61, 272. Today, 29 Feb is the last day of the month. As I type this article, the price of Bitcoin is more than $63K. Will it go higher than yesterday's high? Very possible.  Although the All Time High of Bitcoin is close to $69K, it has never had a monthly close 2y

CryptoVillage

BBS Needs The Support Of Committed Users And Board Moderators.

In December 2023, I made a post on the importance of Board Owners and Moderators. In that post I gave the example of how METV flourished under the leadership of its owner, Chassp, and fantastic moderator, Lguigs. Now that both Chassp and Lguigs are no longer active in METV, it is struggling. Lguigs went on to SportX which rose quickly to become one of the top boards in BBS. The sorry state of BBS has disheartened a lot of the board owners and there are now a lot of inactive boards that was doing quite well at one time eg. RendzRendz (SHARE IT)  Kalyan (BBSMATE) and many others. VILLA is a pale shadow of what it was when Cunzishu and Rexmatic were active there. Some of the board owners passed on the leadership of their boards to others eg Melhu and so MWATALK is still doing reasonably considering the overall low traffic in BBS. SportX is still surviving under its moderators but is not doing as well as when Lguigs was more active there. So the news that Tyler who was the community manager of Metabbs was leaving is very disheartening. His announcement that he is leaving was followed by statements by several stalwarts (that I refer to as 🗻🗻mountains) of BBS that they will scale back their involvement in BBS or even leave as well. This is very bad news for BBS. I am glad that some of the mountains have stated that they will soldier on. BBS needs the support of its mountains 🗻🗻 Can you imagine what will become of MWATALK, GAMETECH, and SPORTX, if their Kitty, Wilba, and Lguigs were to desert BBS. Thank you (and also to many others that are also 🗻🗻mountains) for staying on. The average height of BBS will definitely go down without the 🗻🗻🗻2y

CryptoVillage

Surge in price of Cryptos and Precious Metals

Earlier today I made a post "Has Altcoins Season Started and How It Will Affect Our BBS Token?" It is not just Cryptos that has ended November well and started December with a bang. https://www.kitco.com/news/2023-12-01/Markets-start-December-with-a-bang-as-Bitcoin-altcoins-and-gold-surge-higher.html What is happening that various markets are surging? Before joining BBS at the end of 2021, I used to post on Facebook. The topics I wrote on included Global Economy and Precious Metals. Cryptosml@bbs who is the owner of World News (DGBAR) made a post about a month ago on DGBAR about whether it should change its focus topic. The consensus is that it should continue featuring news. He has confirmed with me that economic news and news on investments is part and parcel of world news. As such, I intend to start posting there about what is happening in the global economy and how it affects us and what we should do including what asset class to invest in. I had wanted to use the board SHAREIT for such articles but it is no longer active and its owner Rendz@bbs is not active in BBS anymore. DGBAR has had low traffic recently which is why its owner made the post about whether to change topic. What we see in mainstream media (or MSM) is what the financial elites want us to see. My views differ from what is in MSM and so BBS is an appropriate avenue for me to to use I believe that the global economy is in a very bad shape and MSM is not presenting a true picture of what is happening and what we should do. The recent surge in prices of Cryptos and Precious Metals is because people are starting to be aware of what is going on and how they need to prepare.2y

CryptoVillage

🦋 When the going gets tough, the tough gets going

You have heard of Ethereum, Ethereum Classic and Ethereum 2.0 Will we have Terra Luna, Terra Luna Classic and Terra Luna 2.0? Do Kwan is now a "Hated" person that a lot of 👬👫 blame for their loss in Luna, UST or Thether and other projects in the Luna ecosystem. Can these make a comeback? Many 👫👬 including some crypto influencers think that they are dead. So we see posts like "RIP Luna" ,  "Final Goodbye" or "Dead and Gone" Did Do Kwan give up and go down into history as the biggest failure in crypto? Do Kwan is a tough person and when the going gets tough, the tough gets going. Do Kwan accepts that the stable coin UST which got depegged will never get back its former pegged value. But Do Kwan is not giving up on Terra Luna and is trying to revive it without UST. What we know as Ethereum is not the original ETH. The original is now called Ethereum Classic. Ethereum is a new ETH after it hard forked away from the original ETH Classic. The current ETH is more successful and has a much higher price than ETH classic. ETH is not without problems. It is notorious for high gas fees as transactions involving ETH incurs high transaction costs. Another problem of ETH is scalability. ETH is so successful and the volume of transactions is so high that it suffer from congestion and slow transaction times. Gas fees goes up during times when congestion is especially high. The development team behind ETH is coming up with solutions for these problems. The proposed improved version of ETH that solves these problems is referred to as ETH 2.0 Do Kwan proposes to do a "Ethereum" to Terra Luna. Do Kwan is proposing a hard fork for Terra Luna. The original Luna will be known as Luna Classic. New Luna gets the old name of Luna. Luna will be given free or Airdropped to the holders of Luna. Some of the Luna will be given to holders before the crash and some to those who bought after the crash. Certain amount of Luna will also be given as compensation to holders of  UST which will not be revived. In order for Luna to build up value and not be immediately dumped, there will be a lock in period of between 2 to 4 years where Luna cannot be sold. Do Kwan 's proposals will be put to the vote soon. If accepted, the Hard Fork will proceed. If you are an existing holder of Luna or UST, will you vote in favour of Do Kwan 's proposals? If you are not an existing holder, would you buy Luna so as to get the new Luna that will be given out? Please comment to say your response to the 2 questions above. 🦋4y

CryptoVillage

🦋 Capitulation and Panic Selling

After the drastic fall in the prices of cryptos over the last few days, the 2 terms in the title are relevant to the present market situation. Capitulation is the point when those who have been holding on with the hope that prices will go back up stop hoping. To capitulate is to give up hope of prices going up and so you sell because you expect the price to go down even more. Would you sell now with hope of buying it back when the price has gone down? The fact that you have held on so far and have not sold yet means that you have not capitulated yet. But after the carnage especially yesterday with Luna going down by more than 99% within a day you may be panicked into selling just in case the market goes down more. Those who spread FUD do it with the hope of inducing panicked selling. Will you be panicked into selling at a time when prices are so very low? Or you going to be pushed beyond panic selling and give up on the market and so capitulate? When the market capitulate, so many 👬👫 give up and sell that the volume of selling goes up very high. The high volumes of the last few days  makes some 👫👬  believe that capitulation has taken place. It this has happened then this is a good thing because all the weak holders have been shaken out. It means that the market has hit a bottom. Today is a green day and prices has bounced up. So has the market capitulated and hit a bottom already? It may have, but the bounce may be a dead cat bounce. What do I mean by a dead cat bounce? A dead cat will not be up and running again. But just before it becomes totally dead or still, its body jerks in death throes which is referred to as the dead cat bounce. So the bounce today will be short live and will be followed by more red days of falling prices. What is the current situation? Has the market capitulated and  hit bottom or is it in a dead cat bounce? 🦋 cannot say for certain. There are too many uncertainties. War uncertainties, Covid, Rate of inflation, how hawkish will central banks be in raising interest rates, how governments will introduce regulations to curb cryptocurrencies. What 🦋 know is that current prices are very low compared to just a few months ago and to their all time highs. Will they go down further. Possibly. Will more cryptocurrencies go bust and become extinct? Definitely yes. Will Bitcoin and Ethereum be amongst those who go bust? Very very unlikely. They may go down more but if you have the holding power to wait for their recovery, so what if they go down more? Just wait and they will have a lot of room to go up. 🦋 conclusion: 1 ) Do not use leverage, borrow money to buy or buy futures. These increase the risks. 2 ) Stick to spot buying without using leverage 3) If you want to minimise risk stick to Bitcoin and Ethereum as these 2 are highly unlikely to go to zero. 4 ) Buy other cryptocurrencies ONLY IF you know them well and have Done Your Own Research (DYOR) and are confident about them. 5 ) Prices are at such low level that the risk to reward ratio favours buying to wait for recovery (provided you have the holding power) Rather than  To sell and hope to buy back (what if the market has bottomed and you sell at the bottom) A video you may want to see is the one below by a YouTuber, Lark 4y

CryptoVillage

Tweet by Michael Saylor

🦋 like the tweet below by Michael Saylor and has retweeted it. Let us give out knowledge and receive money as said by Michael Saylor. 🦋 hope that the time will come soon4y

CryptoVillage

BBS boards are selling themselves hard

The growth seeding program launched by BBS has sparked a war amongst BBS boards. Prior to the launch of the program, the big BBS boards that are included in the pilot phase of Engagement Mining had 2 great advantages over all the other boards that are not on Engagement Mining. Their CPM was 150 whereas the CPM of the other boards was 5. That means publishers and current owners of 📋 posts earn 30X  more for📋 on the big boards compared to the other boards. This difference in earnings makes it difficult for the small BBS boards to attract new members as well as getting 👬👫 to make 📋. Another advantage that those included in Engagement Mining had was their cashiers is able to get  funds to give BBS tokens to those members who qualify to cash out. It is difficult to earn cashables in small boards because of the low CPM. After struggling to earn cashables, the members of the small boards cannot cash out because the cashiers of those boards do not have cashier's funds. It is so much more rewarding financially for 👫👬 to make and buy 📋 on the boards with Engagement Mining. The small BBS fought tooth  and nail to get selected for the growth seeding program. The $1,000 was awarded to 5 BBS boards for wave 1 of the growth seeding program to buy advertisements. This boosted  their CPM to 150 and and provided them with cashier's funds. The 5 boards selected for wave 1 of the growth seeding program had a surge in new members, number of posts made and bought. Those in Engagement Mining had to protect their market share and so bought advertisements to increase their CPM to 180, 200, and even 250. This made life even more difficult to those who are not in either of Engagement Mining or Growth SeedingSo they have to fight fiercely to get selected for wave 2 of the growth seeding program. Thus both big and small BBS boards are selling themselves hard. Below is a video on hard selling. Just for fun 😜🦋4y

CryptoVillage

🦋 Call by a Deputy Minister in Malaysia to make Bitcoin legal tender

Malaysian Bitcoin holders should not get excited by the call by the deputy minister to make Bitcoin legal tender. The  call is made by the minister as his personal opinion rather than that of the government of Malaysia. The call is inconsistent with the stand of the central bank of Malaysia, Bank Negara Malaysia. Moreover the portfolio of the minister is for  Multimedia and Communication, a ministry that is irrelevant to cryptocurrencies. If the call was made by the minister of finance or the minister of economic affairs in the Prime Minister's department, it would carry more weight.4y

CryptoVillage

🦋 More Government Regulations

Government regulations seem to be a hot topic this week. There has already been several posts on  Crypto Villa related to thisCoindesk has made a report of Regulations recently implemented and proposed from around the world4y

CryptoVillage

🦋 Government Regulations on Cryptocurrencies

Government regulations has affected and will affect cryptocurrencies. Below is a post 🦋 made regarding how government regulations has affected cryptocurrencies and how  🦋 think they will affect cryptocurrencies in the future @FHenriques has also made a post on proposed government regulations in the USA4y

CryptoVillage

🦋 Should you buy Crypto Futures?

Unless you are willing to take great risks for the opportunity to make huge gains, I would not recommend buying crypto futures. Cryptos are already volatile. Crypto futures are even more so4y

CryptoVillage

🦋 Rewards From Crypto Villa

BBS is a new social media platform that is just 1 year old.  In order to help it to grow, the development team behind BBS boosted the CPM rate for BBS boards that met the criteria to qualify for Engagement Mining. Being one of the largest Boards behind Banter and Metabbs, Crypto Villa qualified to have its CPM boosted. However, glitches often occurred and the boost for Crypto Villa was not there while the 2 biggest BBS boards continued to have it. 👏👏👏 for the effort of the owner and admins of Crypto Villa to bring it to the attention of the BBS team each time the above occured. The purpose of having a high CPM rate is so that our cashable go up faster Our income is based on  Number of impressions X CPM rateThe purpose of accumulating cashables is to cash them out to exchange them for BBS tokens. 🦋 is still far from  getting enough cashables in CV to cash out. So 🦋 was pleasantly surprised to receive BBS tokens for commenting in CV. Wow, so generous of CV. Thank you. Now 🦋 encourage other CV members to comment and 🦋 will also comment. Head over to  Give the post an impression and at the same time look at 🦋's comment there. This is another post 🦋 made a long comment on. Please check it out also. If you don't like the comments you can give them 👎 If you like the comments, please give it them 👍 Thank you from 🦋4y

CryptoVillage

🦋 Reporting back to Crypto Villa

Hello, I am 🦋. Before I grew up and could fly around as a 🦋, I crawled around as a 🐛 I joined BBS 3 months ago and have been crawling and flying all over BBS visiting many BBS boards. Today, 🦋 is reporting back to Crypto Villa and is making my first post 📋 here in over a month. 🦋 has been visiting Crypto Villa everyday to collect the visiting bonus, read a few post, and buy a cheap 📋 to earn the bonus of making a purchase and then fly off to other BBS boards. This 📋 is to help those who are new to BBS and is trying to find the appropriate community to be in. The best place to be in depends on what you are and what you want to do in BBS. In a 📋 that 🦋 had made in  Crypto Villa, 🦋 referred to ourselves as fishes 🐟🐠🐬🐡🦈🐳 looking for a right sized fish tank So as mentioned in the above post it depends on both your size and what you want to do. If all you want to do is read, the small fish tank will not have enough of 📋📋 A big tank will have a lot of 📋📋 but some of them may be irrelevant. A mid sized tank where the admins weed out junk posts is a good balance. If you are a content provider who make posts, the small tank has a limited market for your post because they have so few members to read, comment, and buy your 📋📋. On the other hand, if you are a small 🐠🐟 you may find that you cannot compete against the big 🐳🦈 in a big tank. The 👬👫 in the big tank favour the 📋📋 of the big 🐳🦈 and so your 📋📋 do not do very wellA mid sized tank like Crypto Villa gives a good balance of the various advantages and disadvantages. Having said the above, 🦋 must add 2 more points: 1 ) if you keep making  fantastic 💥📋 with good contents you will succeed because you will gain recognition. Recognition can also be gained by making 👍📝  comments on the 📋 of other 👫👬 So do both. Make 👍📝 and 👍📋. Comment and post. This is how 🐛 managed to become 🦋. You can also become  a 🦋 if you keep trying. 2 ) 🦋 is still making 📋 and 📝 in small BBS because 🦋 believe in the long term prospects of the small BBS boards and want them to grow. Thank you for reading my report.  🦋4y

CryptoVillage

It get more interesting when you look at the longer time frame

Looking at the hourly charts include a lot of noise for short term fluctuations. Hard to say if any change in direction is sustainable or is just a fluctuation. Longer interval charts are more indicativeThe 1 hourly chart is showing a break up. But it may be just a fake out.. The 4 hourly chart shows that a break up has occurred  but price went back down to retest what was the resistance that now become support It would be interesting to see if this support will hold.4y

CryptoVillage

🦋DYOR and search on Google about what is on the link below

The link below is to a post that offers  a free airdrop It also carries a "Disclaimer" telling you not to spend money on Airdrops but to take part in Airdrops that are free. That disclaimer is to give the post an air of legitimacy. Even though an Airdrop may be free, it is better to DYOR (Do Your Own Research) before participating. It may be a phishing exercise to get your wallet address. What is in your wallet may disappear. Another danger of clicking on unknown links is that malware may be installed into your device4y

CryptoVillage

🦋 Learn a very simple check for scam posts

I have put a link to a post that I saw on this BBS board. The post sounds too good to be true. Things that sound too good to be true are usually NOT true. This is a red flag to warn you to be suspicious. Next thing you should do is click on the icon of the person who made the post to check his profile. What do you find there?  If it is full of posts offering Airdrops, giveaways, white lists, and IDO's then it is likely that he is a scammerIn the case of Ceha93 who made the post below, you will find that he keeps repeating the suspicious post. This should confirm that you should not believe the post.  🦋4y

CryptoVillage

Caterpillar 🐛that became 🦋

CryptoVillage

Malware that attacks online wallets like Metamask and wallets of Exchanges a

Cold storage wallets are more secure than online wallets. Online wallets are convenient because of the instant access they offer. For that portion of your cryptocurrencies that you do not need quick access because you are holding for a long term, it is better to store them on cold wallets. Below is a link to a post disclosing a malware that can attack online wallets like Metamask and wallets on Exchanges 4y

CryptoVillage

Post to alert those who bought or liked the post on the link below o

@RexMatic One of our members made the post below My conclusion when I checked on him is that he made the post innocently without realising that the legitimacy of the post is questionable. Below is the link to his post on this channel. This is a warning to  all those who read that post to be careful4y

CryptoVillage