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The Bitcoin (BTC) thread
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JayJuanGee Offline
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Post: #2851
RE: The Bitcoin thread
(07-16-2016 06:17 PM)JayJuanGee Wrote:  
(07-14-2016 11:12 PM)nmmoooreland20 Wrote:  Really want to buy some Ether on Ethereum, but can never get the chain to fully download. Not using an SSD, so that might be the problem. Anyone else run into this?


I think that I may have heard of Ethereum....

It's one of those crypto currencies, no? Kind of like bitcoin, but not?

I kind of recall that there could be some kind of relationship to bitcoin.


I found a relationship between Ethereum and bitcoin.

Ethereum is going to do a hardfork, and bitcoin remains very reluctant (and difficult to do hard forks).

Several exchanges will be blocking ethereum withdrawals and deposits for many hours around Ethereum's hardfork implementation, which is scheduled for sometime around next Tuesday.

https://news.bitcoin.com/ethereum-hard-f...t-bitcoin/
07-16-2016 06:32 PM
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Post: #2852
RE: The Bitcoin thread
Finally got a little bit of price movement action in bitcoin, today (a 2-3% jump, so far).


Maybe we can question whether there is going to be any sustained upwards BTC price movement, and even though ETH had also experienced a bit of a price jump in the past week (maybe due to the announcement of the planned hardfork), it may be time to either sell or short ETH, The DAO and maybe even Steem... but what do I know, but the hardfork is not likely a good thing for ETH, except maybe for people who already own it and some DAO in the very short term.

Anyhow, I don't play around with those alts because they are even more difficult to know the extent to which they are going to be pumped or dumped, yet sometimes we are going to see simultaneous price movements with some of the alts and bitcoin....

For bitcoin, it has been a couple of weeks since Bitcoin has been in the $680s and it would be nice to break above $700, yet I am not sure whether the whole bitcoin space is ready for that price, yet.. and then if we get significantly above $700, then the next target would be getting into the upper $700s, again (which has been about a month since we visited those upper $700s price territory).
07-17-2016 02:23 PM
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Post: #2853
RE: The Bitcoin thread
With the about 2% upwards BTC price bump in the past several hours (prices currently floating in the $678 to $680 territory), I was kind of in the mood for some bullish news, and maybe the below article (linked within the reddit thread) will need to be sufficient, at least in that the article discusses manners in which governmental and financial institutions are having to consider various strategies in respect to the categorization and treatment of bitcoin.

http://www.reddit.com/r/Bitcoin/comments...nks_hands/
(This post was last modified: 07-17-2016 04:32 PM by JayJuanGee.)
07-17-2016 04:31 PM
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Post: #2854
RE: The Bitcoin thread
I'm not sure if the below link should be related to bitcoin, or maybe to gold/silver...

Naw.. maybe I am a bit biased? for a variety of reasons bitcoin seems best, anyhow.

http://www.zerohedge.com/news/2016-07-17...wiii-stake
07-17-2016 10:08 PM
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nmmoooreland20 Offline
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Post: #2855
RE: The Bitcoin thread
(07-16-2016 06:17 PM)JayJuanGee Wrote:  
(07-14-2016 11:12 PM)nmmoooreland20 Wrote:  Really want to buy some Ether on Ethereum, but can never get the chain to fully download. Not using an SSD, so that might be the problem. Anyone else run into this?


I think that I may have heard of Ethereum....

It's one of those crypto currencies, no? Kind of like bitcoin, but not?

I kind of recall that there could be some kind of relationship to bitcoin.

There is a cryptocurrency component to it ("Ether") but it's also a whole platform for decentralized contracts, and applications overall. I wanted to investing half of my cryptocurrency allocation to Ether, for the larger upside (in my view) and half in bitcoin, but haven't been able to load Ethereum completely on my computer. Did just purchase my stash of BTC though (unfortunately after the bump, since I got busy yesterday).
(This post was last modified: 07-18-2016 08:27 AM by nmmoooreland20.)
07-18-2016 08:25 AM
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JayJuanGee Offline
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Post: #2856
RE: The Bitcoin thread
(07-18-2016 08:25 AM)nmmoooreland20 Wrote:  
(07-16-2016 06:17 PM)JayJuanGee Wrote:  
(07-14-2016 11:12 PM)nmmoooreland20 Wrote:  Really want to buy some Ether on Ethereum, but can never get the chain to fully download. Not using an SSD, so that might be the problem. Anyone else run into this?


I think that I may have heard of Ethereum....

It's one of those crypto currencies, no? Kind of like bitcoin, but not?

I kind of recall that there could be some kind of relationship to bitcoin.

There is a cryptocurrency component to it ("Ether") but it's also a whole platform for decentralized contracts, and applications overall. I wanted to investing half of my cryptocurrency allocation to Ether, for the larger upside (in my view) and half in bitcoin, but haven't been able to load Ethereum completely on my computer. Did just purchase my stash of BTC though (unfortunately after the bump, since I got busy yesterday).


O.k. fair enough. I am glad that you were able to get some stake in bitcoin, and frequently there are ways that you can dollar cost average over time into bitcoin, and likely do o.k. in the long term, which is kind of a recommended methodology rather than investing balls to the wall and hoping for a pump.

On the other hand if you are in bitcoin merely for the pumps then it can be pretty difficult to time those kinds of upward price movements, because sometimes bitcoin is dumped right when it appears that it is going to be pumped.

Anyhow, I have considered bitcoin to be more of a longer term investment rather than a get rich quick vehicle, even though bitcoin does have that kind of upside potential too, which could be 5x, 10x, 100x or some other variation - that in no way is guaranteed but still within the realm of possibilities.

Regarding getting into Ethereum and discussing it here, you may have sensed some sarcasm in my comments mostly because I understand that Ethereum is not bitcoin, and over the years guys frequently bring up various other cryptos in this thread in order to pump them in various ways, here - maybe in the guise of "educating" us about them or to attempt to differentiate these various other cryptos or to categorize them as a kind of bitcoin 2.0, which is well known to be one of Ethereum's talking points, and surely the commentary of RVF guys on other cryptos here would be more acceptable in my view if there were at least some kind of connection made to bitcoin... but yeah, personally, I am not so much an advocate of other cryptos (such as Ether), but I understand that some of these other cryptos can be pumped on a short term basis in ways much greater than bitcoin (especially in the shorter term), but the downside potential of some of those other cryptos, including ether can be pretty great, too, and even if guys on this forum do not really seem to discuss these other various cryptos in other threads, there are likely useful ether threads outside of RVF to engage in more detail about some of these ether ideas and strategies.
07-18-2016 09:38 AM
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JayJuanGee Offline
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Post: #2857
RE: The Bitcoin thread
(07-17-2016 10:08 PM)JayJuanGee Wrote:  I'm not sure if the below link should be related to bitcoin, or maybe to gold/silver...

Naw.. maybe I am a bit biased? for a variety of reasons bitcoin seems best, anyhow.

http://www.zerohedge.com/news/2016-07-17...wiii-stake



Even though the below linked article is from several days ago, it seems to further explain the earlier article that I posted linked above.

Maybe a bit of an exaggeration, but really describing war inclinations.. which also seems a bit like "crazy talk."

http://theeconomiccollapseblog.com/archi...-may-think
07-18-2016 09:59 AM
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Post: #2858
RE: The Bitcoin thread
The below two lightning network links have a lot of good bitcoin discussion and content. I would be interested if anyone wants to discuss any of the bitcoin related points made therein.

https://medium.com/@rusty_lightning/ligh....6k920aqm5

http://bitfury.com/content/5-white-paper...7_2016.pdf
07-19-2016 03:27 PM
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Post: #2859
RE: The Bitcoin thread
(07-14-2016 03:12 PM)JayJuanGee Wrote:  Also, Since we are on the topic of bitcoin...

The news is that MTGOX CEO Mark Karpeles is out of jail in Japan on $100k bond.

Interesting.. click on the video linked in the reddit thread, he looks very thin and very different with about a 50lb weight reduction.

https://www.reddit.com/r/btc/comments/4s...translate/

http://cointelegraph.com/news/mt-gox-ceo...han-before



Less than a week ago, we had the release of Karpeles on bond (see above links), and now, it appears that we have the release of Charlie Shrem for having had served his full two year term.



http://bitcoinist.net/charlie-shrem-released-prison/
07-20-2016 01:13 AM
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Post: #2860
RE: The Bitcoin thread
Since we are floating in this largely $660 to $680 price range for several days (current price about $665), and really mostly $630 to $700 for about 1 month, I'm starting to come to the conclusion that btc prices almost have to experience another test of a lower point of resistance, whether that point is $650 or $630 or $610, I'm not sure, but I'm starting to think that at least a test of $650, at minimum, is almost inevitable and how far it goes down is going to depend on the trade volume and how much of a fight is made by the bulls.

To me it seems that bulls definitely have an upper hand in these mid $600s price points and these current market conditions (and really in that regard, prices would likely need to be pushed below $500 for a significant time in order to change the overall bull market that we are currently in), but that current seeming status of "upper hand" does not preclude the bears from attempting to push btc prices down and to attempt to revers the market direction, even though such reversal attempt will likely not succeed in changing the current ongoing upwards price momentum and current ongoing upwards price pressures on btc, unless they can get it into the lower $500s and even move it into sub-$500 for an extended period, which is not impossible, but would likely cost them a lot of capital.
07-20-2016 02:15 PM
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Post: #2861
RE: The Bitcoin thread
I watched a 2015 documentary last night called "Bitcoin: The End of Money As We Know It".

It was short (~1 hour) and definitely biased in a positive way towards bitcoin, but still very informative, even to someone like myself who's pretty familiar with the technology.

It doesn't delve too much into the technical details, but explains things at a high, easily-understandable level. The beginning twenty minutes or so provide an abridged history of money itself, and I especially enjoyed the explanation of the modern day financial system and how fractional reserve banking works.

Definitely a great way to introduce friends or family to bitcoin, if they're unwilling to read a book like Digital Gold.

You can rent or buy the movie on Amazon, but it's easy enough to find a free version floating around online if you're so inclined.

Here's the trailer:



(This post was last modified: 07-20-2016 03:39 PM by Isaac Jordan.)
07-20-2016 03:37 PM
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JayJuanGee Offline
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Post: #2862
RE: The Bitcoin thread
(07-20-2016 03:37 PM)Isaac Jordan Wrote:  I watched a 2015 documentary last night called "Bitcoin: The End of Money As We Know It".

It was short (~1 hour) and definitely biased in a positive way towards bitcoin, but still very informative, even to someone like myself who's pretty familiar with the technology.

It doesn't delve too much into the technical details, but explains things at a high, easily-understandable level. The beginning twenty minutes or so provide an abridged history of money itself, and I especially enjoyed the explanation of the modern day financial system and how fractional reserve banking works.

Definitely a great way to introduce friends or family to bitcoin, if they're unwilling to read a book like Digital Gold.

You can rent or buy the movie on Amazon, but it's easy enough to find a free version floating around online if you're so inclined.

Here's the trailer:





Thanks for pointing those out, they both seem to be really good bitcoin related resources.

Funny that no one had posted either of them previously.
07-20-2016 03:46 PM
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Post: #2863
RE: The Bitcoin thread
(07-20-2016 03:46 PM)JayJuanGee Wrote:  
(07-20-2016 03:37 PM)Isaac Jordan Wrote:  I watched a 2015 documentary last night called "Bitcoin: The End of Money As We Know It".

It was short (~1 hour) and definitely biased in a positive way towards bitcoin, but still very informative, even to someone like myself who's pretty familiar with the technology.

It doesn't delve too much into the technical details, but explains things at a high, easily-understandable level. The beginning twenty minutes or so provide an abridged history of money itself, and I especially enjoyed the explanation of the modern day financial system and how fractional reserve banking works.

Definitely a great way to introduce friends or family to bitcoin, if they're unwilling to read a book like Digital Gold.

You can rent or buy the movie on Amazon, but it's easy enough to find a free version floating around online if you're so inclined.

Here's the trailer:

[https://www.youtube.com/watch?v=lUF6klWuB38[/video]


Thanks for pointing those out, they both seem to be really good bitcoin related resources.

Funny that no one had posted either of them previously.

I was able to find a link to the full version of the video that so far seems to work. I agree with you that it is good, but it seems to be a bit over a year old.... and as we know time flies in bitcoinlandia... but it's approach, like you said Isaac, seems to be also providing a broader history of money.. more than half of it.
07-21-2016 01:50 AM
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Post: #2864
RE: The Bitcoin thread
Even I will concede that the article that is attached in the below linked reddit thread is quite a bit more optimistic than myself, but it still gives some decent discussion of bitcoin developments and potentiality in the Caribbean.

http://www.reddit.com/r/Bitcoin/comments...yday_life/
07-21-2016 05:26 PM
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Post: #2865
RE: The Bitcoin thread
Here's another decent bullish bitcoin article with some overview analysis of today's price and discussing the current state of bitcoin..

In sum, it is saying that BTC prices could go up or down from here, but in the long term seem to be a good bet to go up further.

Seems pretty well written, even for a newbie to bitcoin to get some ideas from this.

https://99bitcoins.com/why-is-bitcoin-going-up/
07-22-2016 02:50 AM
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Post: #2866
RE: The Bitcoin thread
When to sell LTC? Anyone?
07-22-2016 02:50 PM
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Post: #2867
RE: The Bitcoin thread
Below is some skepticism regarding the ethereum hardfork from an attempt at bitcoin learning perspective.

Even with this recent ETH hardfork, ethereum prices have been going up, at least in the short term to be up 20% in less than a week.. will that upwards momentum last though, and if so, would such upwards price momentum matter to bitcoin?

I know in the various bitcoin forums, posters have kind of let off of their ETH spamming in the past month or so, and I suspect if ETH has some kind of price rebound, those spammers are going to return to argue that ETH is BTC 2.0 and other similar kinds of anti-bitcoin nonsense.


http://www.coindesk.com/bitcoin-core-eth...precedent/
(This post was last modified: 07-22-2016 04:19 PM by JayJuanGee.)
07-22-2016 03:46 PM
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Post: #2868
RE: The Bitcoin thread
(07-22-2016 02:50 PM)skr1107 Wrote:  When to sell LTC? Anyone?


Have you ever heard of bitcoin? Do you own any bitcoin? Does your holding in LTC in anyway relate to bitcoin, or are you just wondering about LTC in the abstract?
07-22-2016 03:48 PM
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Post: #2869
RE: The Bitcoin thread
Below is an article that has a bullish prediction of a brokerage investor, who likely owns quite a bit of BTC, but in the end he is suggesting that if the Wiklevoss ETF is approved before the end of the year, which there could be a decent chance of this happening... then bitcoin prices could surge into the $2k to $10k price arena... T

Overall, these seem like reasonable observations.


http://forklog.net/exante-winklevoss-bro...oin-price/
07-23-2016 01:12 PM
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Post: #2870
RE: The Bitcoin thread
Here's some backing up of a bullish pennant formation and the signaling of an upwards breakout that may be coming near into the future.

I am personally thinking that we may have a bit more downward correction prior to breaking upwards, like maybe at least to $630 and possibly a bit lower,maybe even $610, but I am certainly no expert.


https://news.bitcoin.com/bitcoin-breakou...-analysis/
07-23-2016 06:30 PM
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Independent1 Offline
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Post: #2871
RE: The Bitcoin thread
Just curious what strategy you guys have with BTC? Long term investment or short flipping?

In the past I used to buy when the price had dropped then wait weeks/months until it got higher then sold. Right now the price seems to high for another investment but I'm still using bitcoins to transfer money avoiding bank fees Smile
07-24-2016 12:37 AM
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Post: #2872
RE: The Bitcoin thread
(07-24-2016 12:37 AM)Independent1 Wrote:  Just curious what strategy you guys have with BTC? Long term investment or short flipping?

In the past I used to buy when the price had dropped then wait weeks/months until it got higher then sold. Right now the price seems to high for another investment but I'm still using bitcoins to transfer money avoiding bank fees Smile



You can use bitcoin for either a long term investment or short term flipping.

Through this thread, I have gone through several explanations of bitcoin strategies that I employ that involve both long term investing and trading (meaning selling as the price goes up and buying as the price goes down).

If you think that the price is too high at the moment, then what do you believe to be a more realistic price? If you believe that bitcoin is too high, then you sold all your coins? at what price? how many coins were you trading at a time?

Where are you transferring money with bitcoin? how much are you saving in fees? 1% or more? From where do you buy and sell your bitcoin? Are there any fees?
07-24-2016 05:48 AM
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Post: #2873
RE: The Bitcoin thread
(07-24-2016 05:48 AM)JayJuanGee Wrote:  
(07-24-2016 12:37 AM)Independent1 Wrote:  Just curious what strategy you guys have with BTC? Long term investment or short flipping?

In the past I used to buy when the price had dropped then wait weeks/months until it got higher then sold. Right now the price seems to high for another investment but I'm still using bitcoins to transfer money avoiding bank fees Smile



You can use bitcoin for either a long term investment or short term flipping.

Through this thread, I have gone through several explanations of bitcoin strategies that I employ that involve both long term investing and trading (meaning selling as the price goes up and buying as the price goes down).

If you think that the price is too high at the moment, then what do you believe to be a more realistic price? If you believe that bitcoin is too high, then you sold all your coins? at what price? how many coins were you trading at a time?

Where are you transferring money with bitcoin? how much are you saving in fees? 1% or more? From where do you buy and sell your bitcoin? Are there any fees?

For the transferring, I'm using OkCoin to buy bitcoin in RMB (I'm based in China). I make sure the OKCoins Bitcoin value is at least 1% less than the Coinbase Bitcoin value before purchasing in RMB.

I then transfer Bitcoins from OkCoin to Coinbase. Then cash out to UK bank via Coinbase. Coinbase only charges 1% fees for exchanging Bitcoins to a currency so if you find a difference of 1% of greater then you are doing the exchange without any fees. It's a way to avoid bank fees.

I sold my coins at around 730-750 USD each last month. I'm not too sure on when to reinvest, maybe if they go below 550.
07-24-2016 07:43 AM
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Post: #2874
RE: The Bitcoin thread
(07-24-2016 07:43 AM)Independent1 Wrote:  
(07-24-2016 05:48 AM)JayJuanGee Wrote:  
(07-24-2016 12:37 AM)Independent1 Wrote:  Just curious what strategy you guys have with BTC? Long term investment or short flipping?

In the past I used to buy when the price had dropped then wait weeks/months until it got higher then sold. Right now the price seems to high for another investment but I'm still using bitcoins to transfer money avoiding bank fees Smile



You can use bitcoin for either a long term investment or short term flipping.

Through this thread, I have gone through several explanations of bitcoin strategies that I employ that involve both long term investing and trading (meaning selling as the price goes up and buying as the price goes down).

If you think that the price is too high at the moment, then what do you believe to be a more realistic price? If you believe that bitcoin is too high, then you sold all your coins? at what price? how many coins were you trading at a time?

Where are you transferring money with bitcoin? how much are you saving in fees? 1% or more? From where do you buy and sell your bitcoin? Are there any fees?

For the transferring, I'm using OkCoin to buy bitcoin in RMB (I'm based in China). I make sure the OKCoins Bitcoin value is at least 1% less than the Coinbase Bitcoin value before purchasing in RMB.

I then transfer Bitcoins from OkCoin to Coinbase. Then cash out to UK bank via Coinbase. Coinbase only charges 1% fees for exchanging Bitcoins to a currency so if you find a difference of 1% of greater then you are doing the exchange without any fees. It's a way to avoid bank fees.

I sold my coins at around 730-750 USD each last month. I'm not too sure on when to reinvest, maybe if they go below 550.

Well there are a lot of bitcoin exchanges and related services out there besides the two that you listed, and of course your access to exchanges/services and your perspectives about bitcoin may be limited based on where you are at and how you have used bitcoin in the past.

I agree that if you are moving money between exchanges, you do need to account for any fees that they have in order to ensure that your actual exchanging money is possible.

So far, we have not had anyone participating in this thread who had been either asserting to be based in China or attempting to use chinese bitcoin exchanges, so it would be nice to hear your perspective and also if you were to become more involved in a variety of other chinese exchanges in order that you would be able report on any interesting dynamics that you may see in those exchanges.

I suspect that if you are fairly new to using bitcoin and monitoring it's price, you may be getting caught up on short term price movements, and your outlook may be much more bearish about bitcoin than warranted. However, at the same time, each of us is entitled to our opinion.

If you read through my posts, of course, I am fairly bullish on bitcoin, and I have been investing in bitcoin since November 2013 and trading since October 2015. I also use arbitrage between various bitcoin services.

So far I have only traded dollars with bitcoins, and in the order that I have adopted them, I am currently using the following for buying and selling bitcoins: LocalBitcoins, Blockchain (for direct transactions), Coinbase, BTC-e, Circle, Uphold, Gemini, GDAX (which is Coinbase's exchange), Bitfinex and Bitstamp. Over my time in, I have been able to stack up bitcoins and dollars on both ends, so I feel fairly insured no matter which direction the price goes, yet of course with my current holdings I make more money if bitcoins go up.

If you are continuing to use bitcoin for various money transferring or exchanging, I think that you should hold some value in bitcoin, and that amount may reflect the extent of your bearish view about bitcoin and your concerns that there may be better entrance points at lower prices (like you said, possibly below $550). Personally, I do not doubt that there could be lower entry points below $550, but I don't think that it is a good way to invest to wait for such price points that are far from guaranteed, when it is also possible that BTC prices could shoot up to $2,000 (definitely no guarantee with that either). So, my suggestion is that if you are particularly bearish, you may consider investing only 20% of what would otherwise be your bitcoin investment fund, and hold the other 80% to invest at other lower price points. Of course, the quantity and the entrance points would vary based on your own circumstances and whether your perspective changed or became more informed in watching the price movement over the coming weeks or months.

I agree that bitcoin can be a fairly volatile asset, yet it remains a very interesting asset because there is a lot of potential in its newness, and its newness creates a bit of a price dynamic that is likely not going to correlate with any precision with any other asset class (even the most likely comparable, which would be gold).

Hopefully, you can respond to anything that I wrote here, and continue to let us know about how you are approaching the bitcoin matter from you current China-based perspective.

By the way, your RVF profile says USA. Are you in China for the longer term or just on some kind of temporary assignment? Do you travel to other countries frequently, if so do you see a role for bitcoin in that? What other currencies do you deal with? I am presuming that you are talking about dealing with the UK based Coinbase service because that is what you have available from your current location?
07-24-2016 02:21 PM
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Post: #2875
RE: The Bitcoin thread
Woops, I went back to my above post, and I was going to edit a few ideas. I typed out my edit, and then shit, I had gone a few minutes passed the hour limit (so I was not allowed to edit).

So, let me just add a few more points to supplement my above post.

1) regarding exchanges and fees, I had meant to agree with you and say that either you want to ensure that you are doing exchanges that are profitable or at least to minimize or to eliminate fees, as you asserted, and some exchanges have very low fees or no fees. Sometimes by shopping around and having more exchange options, you may find that any particular moment one exchange is better than another, and coinbase might not be as competitive as others, it just depends upon the price movements at the time that you are attempting to do the transaction.

2) Regarding your having access to Chinese exchanges, you may recall that in late May 2016 when BTC prices initially broke out of the $400s, it was a quite interesting dynamic, at least for a while around that time that several of the Chinese exchanges were quite out of wack with the remainder of the exchanges. In this regard, most Chinese exchanges were frequently showing 10% or more higher prices, as compared with other exchanges. Some folks attributed those exchange price differences to the then dynamics within the Chinese economy and concerns about both devaluation of the Chinese currency and apparent increased capital controls in terms of moving money out of the country.

Other theories was that there may have also been some attempted BTC pumping going on in China to attempt to move BTC prices upwards while other exchanges were quite reluctant to follow the Chinese exchanges, but in any event there were arbitrage opportunities based on these various large price differentials for some folks who may have had money in both systems at that time, and especially for those who may have been able to cash out in the Chinese exchanges during that time.

All within about less than a week, there was some correcting going on during that time, and then prices of the various exchanges got more in line, and they have been more consistent in the past month or so, yet in bitcoin, there frequently can come about considerable differences in prices between exchanges for short periods of time, and it is not always easy to read the longer term meaning of such differences, yet if you have money in place in more than one location, you will be able to take advantage of such price differences and lock in immediate profits, which could even be 10% or higher, at times.

3) Regarding my assertion that you seem to be newer to using and monitoring bitcoin, I would be interested in you maybe clarifying that point a little bit, so I do not need to assume so much.. hahahahaha.
I was attempting to assert that folks that are newer to bitcoin sometimes get caught up in looking at short term BTC price movements without seeing a broader bitcoin context. Accordingly, when folks who are newer to bitcoin get into bitcoin, their default view tends to be to attempt to compare bitcoin to some other assets that they know or sometimes kind of assume that bitcoin is a more mature asset than it is, which causes the outlook of these folks to become much more bearish about bitcoin than warranted. I am not really trying to criticize that perspective, but sometimes it is an erroneous perspective because they are failing to recognize the upside potential of bitcoin and its paradigm shifting attributes (which is permissionless decentralized immutability of value that has not been achieved by any other system with such powerful computing backing it). Yes, no matter what, each of us is entitled to our opinion and to come to our conclusions, so I would not want to presume that I have any kind of deeper knowledge about bitcoin beside merely monitoring it for nearly 3 years.

4) Regarding my current bitcoin holdings, they are currently around 95% bitcoin and 5% fiat, and that is mostly the reason that I make more money if bitcoin prices go up. Yet, if I perceive some kind of technical issue with bitcoin or some clear sign that BTC prices are going to go down, I don’t mind changing my allocation to be much higher in fiat.

5) I want to just mention that over the past year or so, my girlfriend has kind of dabbled in bitcoin, and her perspective is quite a bit more bearish than mine, so she tends to be a lot more eager to sell, as compared with me. She does not completely hold off buying, because she already made that mistake before, so she seems to kind of have corrected some of the error of her ways by being inclined to sell more as price goes up and to lock in her profits in fiat.. Though when the price goes up, she does not have as many BTC, but she will tend to have fiat available when the price goes down, and she does not attempt to wait so long in order to buy and in and she just buys in stages in order to have some stake in the game when the price goes back up, which it has been doing for nearly a year now, and we cannot really assert in any kind of convincing way that bitcoin is either out of the bull market or that the bull trend has reversed.

6) I personally believe that BTC prices need to go back into the $400s and to be sustained in those lower prices in order for some kind of declaration that the bull trend has reversed. Having said that, even though I continue to believe that BTC is currently in a bull market, there is no guarantee that BTC prices will continue to go up from here, but it is much too early to assert that either the price trend has reversed or that the fuel behind the current bull market has been used up.
(This post was last modified: 07-24-2016 04:06 PM by JayJuanGee.)
07-24-2016 04:05 PM
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