If you haven’t noticed…no one really wants to talk about altcoins lately.
Bitcoin this, Bitcoin that…but where is the love for those silly alts!?
Even I can be considered guilty of this…but I have a feeling, everybody is going to be talking
about altcoins again very soon. So let’s start the trend…because it’s time for Chico Crypto!!
Well everyone should know, for altcoins to get bullish once again,
you can’t forget about Bitcoin. If Bitcoin doesn’t recover and push up to new bull heights,
altcoins won’t make it. So you can't root for another altseason
without rooting for Bitcoin to break out and flip completely bullish.
Sooo we want to see Bitcoin break above 45k resistance, and begin it’s path to 50k. If this
happens, the markets are going to flip bullish and a brand new wave of hopium will arrive…well
as of yesterday, Sunday…we were still trying to break this very important level…
Well I have a feeling this week we are going to break it, It could have already happened,
as of today Monday we could still be trying…but if that happens…guess what?
ALTSEASON will take place…So who are the altcoins I see breaking out given another altseason takes
place throughout this spring and into the summer? Well there is one we need to dissect…
Well we heard about it last week and got confirmation. Loopring is officially
partnering with gamestop!! Which Chico has been on the trail of for some time, a lot longer than
most. Back in September of last year, I made the first connections, finding ethereum address and
etherscan connections, also finding where Daniel Wang former CEO of Loopring spoke about them not
launching their own nft marketplace, but was working with a premium partner to launch one…
Well just over 6 month later, we finally get confirmation this
is true. A Gamestop NFT marketplace will be powered by Loopring…
And of course just like back in September
when I predicted the partnership, I think there is more to this than meets the eye…
Within the release blog they say “Users can get early access to beta.nft.gamestop.com,
to set up your username and profile, make deposits
and be prepared for the full launch of the official marketplace coming soon.”
Yes the marketplace is coming very soon, they even have a landing page where you can connect
a wallet…and diving into connecting a wallet there are 3 ways to connect to the marketplace.
Of course Metamask, there is walletconnect…but
there is a 3rd one, Gamestop’s own wallet browser extension, which they say is coming soon.
Do you get it?? Gamestop will be building a wallet extension
which will be fully based on Loopring tech…
Now if you didn’t know, back in December of last year the same Adam Browman who posted
the partnership blog, posted this blog “Introducing: L2 Counterfactual Wallet and FIAT
on-ramps” and the blog states “With the release of our Counterfactual Wallet, users can now
deploy the Wallet on L2-only, bypassing a costly creation fee on L1. This-try-it-before-you-buy-it
option allows users to experience the power of Ethereum L2 right away. And of course they
talked about the wallet having Fiat On Ramps in partnership with Ramp in the blog too…
Well let’s just go read the terms of service of the coming Gamestop marketplace. Guess who
is mentioned in there, as a third party service provider. Of course RAMP is…
Gamestop counterfactual wallet? Me thinks so…which Gamestop kind of
confirmed under the launch tweet from Loopring. A LamboSuun asked “Will Loopring Wallet be an
option for connecting?” and guess who replied? The official Gamestop twitter. They said “During the
beta test we are only supporting Metamask and general Wallet Connection compatible wallets.
We do plan to release our own in the future. -SMRT…SMRT do they mean smart? Going back to the
Loopring counterfactual blog post, what another name for their wallet? The Loopring Smart Wallet…
What is going to be so SMART about this wallet!? Well the leaders at Loopring have been giving
hints for some time now. This isn’t just about NFTs and games, this is about creating a
brand new financial system, not controlled by Wall St., bankers and the government.
Why do you think ole byron, loopring executive, is tweeting things like this. Just yesterday he said
“The next generation wants decentralization . #BeYourOwnBank” and then if you go to his
twitter profile he has a certain tweet pinned. It’s him saying “Sorry guys,
we’re a little busy right now over at Loopring.
With the meme of a dad going into a sons bedroom saying “Are you winning son!?” and the son says
“Hold up Dad. I’m re-architecting the global financial infrastructure with some friends”
Re-architecting the global financial infrastructure?
That sounds like much more than just an gamestop NFT marketplace….
Well back in early March Byron hinted at what was coming. He tweeted this March 5th “When the tide
comes out, some are going to look very foolish when they are discovered to be swimming naked”
Now what is CEO of Gamestop Ryan Cohen tweeting about around the same time?
He said this March 14h “Short sellers are the dumb stormtroopers of the investing galaxy & then March
15th “Good use of taxpayer Money is the government cracking down on hedge fund short sellers”
Now if you can’t figure it out, from the tweet hints from both Byron of Loopring and Ryan of
Gamestop….let me spell it out for you…they are looking to expose the naked..hint from Byron
“short sellers” hint from Ryan. They are looking to expose the naked short sellers of GME stock…
If you didn’t know, the Gamestop debacle which began last year exposed the dirty underbelly of
wall street. This article summed it up nicely from the American Prospect. “The GameStop Mess Exposes
the Naked Short Selling Scam”..and the article states “Short selling, effectively betting that
a stock will go down, involves a trader selling shares he does not own, hoping to buy them back
at a lower price to make money on the spread. The trader is supposed to locate (or have a
“reasonable belief” he can locate) or borrow the shares in brokerage accounts, and then transfer
them to the buyer within two days. This accounts for as much as 50 percent of daily trading.
Naked short selling is when the trader does not find those shares to deliver. It’s costly to
big hedge funds to locate hard-to-borrow shares. So prime brokers, who carry inventory of stocks
for high-volume short sellers, simply lie about the borrows, to assist their favorite clients.
It’s a scam central to the stock trading system, enabled by the Securities and Exchange Commission
(SEC), the market regulator, and the Depository Trust and Clearing Corp. (DTCC), the stock
clearinghouse, to benefit the big players. At the House hearing, Rep. Nydia Velazquez (D-NY)
asked about the dangers of short selling. “GME [GameStop] sold short 140 percent. Why
isn’t that manipulation?” She meant that short sellers sold 40 percent more shares in GameStop
than existed. They were phantom shares that didn’t exist but that were posted in buyers’ accounts as
“entitlements.” The buyers have no idea they don’t have real shares. They can sell and even
loan those digital entitlements. In other words, large numbers of “locates” or “borrows” were fake,
making the shorts “naked.” Why does it matter? Because naked short selling causes the number
of shares in the market to increase, which normally makes their value drop;
more shares equals less value. And it can massively disrupt the market, as GameStop showed.
Soooo what are Loopring and Gamestop up to?? Well, it’s something I predicted a long time ago…all
the way back in July of last year. Let’s listen in…
Gamestop and Loopring are creating a new financial system for the GME stock,
which will be tied to NFTs. The number of shares will be verifiably held and
attested to by a non fungible token, meaning countefitting shares will be impossible!’
The future of finance is being built before our eyes and the MOASS,
the mother of all short squeezes will be triggered by this event.
It’s coming and sooner than people think. Cheers I’ll see you next time!