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The Bitcoin (BTC) thread
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JayJuanGee Offline
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Post: #4476
RE: The Bitcoin thread
Here, I'm going to respond to the last three price related posts, and I understand that any post is a kind of snapshot, and a guy can come to another conclusion 2-3 hours later, because the price dynamics may have changed.



(06-04-2017 01:00 AM)Olav Wrote:  Bitcoin price rebounding now, gonna be at 3k soon.

I think that overall this is a fair characterization. A bit more than a week ago, we had a correction down to $1,850 - note referring to Stamp prices for consistency purposes and also with the ongoing assertion that Stamp remains one of the best price barometers - even though sometimes (and usually for short periods) Stamp may be a bit out of wack with the rest of the markets.

So, it seems that after the $1,850 correction, we hovered into about a $1,950 to $2,350 price range - with a few further attempts at downwards but largely an ongoing trickling upwards and even when there have been break throughs at $2,350, $2,400, and $2,500 the break throughs have not caused an upwards spurt - which tends to be a kind of bullish sign... that further up is a bit more likely than down.. maybe even approaching the 60% probability range... but even if up seems to have the more likely chances, each time we are facing resistance levels we have to account for how long it takes to break through each of the barriers.. and i continue to think that this kind of slow trickle back up is bullish to allow for buyer support to follow the upward price movements... and at some point, it seems that we are going to experience an ongoing and irrational upwards price spurt that may last for several days and maybe into a couple of weeks - and I don't conclude that our earlier run to $2,760 represents such an irrational upwards spurt, because we have subsequently experienced what appears to be a reasonable correction with continued upwards buy pressure and a seemingly inability for bearwhales to drive the price down further.

So, in that regard, $3k seems to be almost a given and $4 to $6k seems to be a fairly reasonable target in the coming nearterm.... like I said in an earlier post.. maybe giving about a 35% likelihood to reach the $4k to $6k range in the nearterm (what is that maybe within a couple of months at most - maybe even six weeks being on the outside of the time range)


(06-04-2017 01:58 AM)CleanSlate Wrote:  Still going sideways around $2500.

Kind of... I mean, we had a step up over the weekend that seemed to be a bit against a large amount of dominating opinions that were predicting a downwards BTC price correction over the weekend from the lower $2,400s... and to go down from there.

Yet, instead of going down from $2,400s, we went up.. So, in that regard, I have a bit difficulty characterizing $2,500 as sideways.... because we should be accounting for getting to a place that was not really anticipated.

This is a price place where no one really wants to be.. Seems like, we have too much ongoing pressures here.. even over the weekend a bit higher volume and we have bears trying to get us to go down, and support ensues.. so sure, we have to go up or down... and ongoing sideways in this price range of $2,450 to $2,580, just does not seem to be any kind of ongoing phenomenon...



(06-04-2017 01:53 PM)Stun Wrote:  Buyers seem to have a problem with 2600, at least over the last couple days. It's gone to 2599 on coinbase twice, then back down to as low as 2446 before going back up again.

First, I don't think that it is good to use coinbase (or GDAX - which is pretty much the same) as any kind of meaningful barometer of BTC price points.

Second, I believe that understand what you are saying about $2,600, but it seems that you are a bit off about your characterization, no?

As I described above, we have a situation in which we are just returning to this price range from an area in which we were not expected to get here.. so sometimes it can take a bit of time for the market to follow - especially on the weekends when people frequently expect dumps to be more likely than pumps, and instead of experiencing a major pump, we experience a kind of baby pump.

We are back into all time territory, especially if we look at the daily weighted average. Look at yesterday's daily weighted price, $2524.85... That is number one, EVER...

https://bitcointalk.org/index.php?topic=...sg19364830

Sure, we could possibly go down from here, but you seem to be way too premature if you are concluding that buyers have a problem with this price range .. or even going up from here.

Even though we have not quite gotten beyond $2,600 yet in this recent rebound ($2,584 on Stamp), it is not out of the range of expectations to have some resistance in this arena before returning to testing the ATH of $2,760. We have to cross the resistance of each of these areas one at a time, but at the moment, the odds of crossing both of them in the coming days, maybe a week at most, seems pretty decent.
06-04-2017 03:55 PM
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Stun Offline
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Post: #4477
RE: The Bitcoin thread
^ I don't mean to say it won't go above 2600 tomorrow, only that it was a barrier this weekend. Buyers twice paid 2599, but wouldn't go above that and the price subsequently dropped.

Why is Bitstamp a better indicator of the true price than coinbase?

https://www.youtube.com/watch?v=WdhFJ5uArUc
06-04-2017 10:11 PM
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JayJuanGee Offline
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Post: #4478
RE: The Bitcoin thread
(06-04-2017 10:11 PM)Stun Wrote:  ^ I don't mean to say it won't go above 2600 tomorrow, only that it was a barrier this weekend. Buyers twice paid 2599, but wouldn't go above that and the price subsequently dropped.

I could be that largely we are saying the same things, but I still don't think that characterizing $2600 as any kind of barrier serves as an accurate description of the dynamics... even though technically, it is not an inaccurate statement.

Otherwise, I think that I explained why I would characterize the situation differently.. and we are floating at the top with ongoing price pressures...and sure at some point, the price may break through resistance points, such as $2600 - even though at this time, there seems to have not been sufficient time to verify the extent to which $2600 may present any meaningful amount of resistance or merely to melt away like butter, and I am getting the sense that the latter is more likely - even though none of these kinds of predictions are asserted with high degrees of certainty.




(06-04-2017 10:11 PM)Stun Wrote:  Why is Bitstamp a better indicator of the true price than coinbase?

I think that I already answered this, and maybe in the end there is not really any way to argue the point except to assert that many folks use Stamp as the barometer and it is good to just stick with the common reference rather than employing another reference in order that we can all know what we are talking about instead of having to specify on an ongoing basis regarding which exchange we are referring to.. when the exchanges might be all over the place in terms of price and even more than $100 dollars differences at various times... .. .. so in sum that is the ease of reference argument and bitstamp just works as an ease of reference.

So, if we are just referring to price generally, then it is good to have one agreed to reference point... Stamp seems to serve that purpose pretty well, currently.

But yeah, if we are discussing various prices of exchanges then pointing out such difference is the topic of discussion.. like say.. "whoa fuck did you see blah blah blah buy 5000 bitcoins on x exchange for $4200?" or something like that.

Further, Bitstamp has not been employing margin trading, and for a bit of time. bitstamp seemed like it had been losing some of its barometer status to Bitfinex last year, but seemed to have become the fallback barometer again after Bitfinex's fiasco's in August 2016 and thereafter.

Bitfinex is still losing some credibility in the scene because of its August 2016 situation, and coinbase / gdax has also had a considerable amount of its own political consequences in the bitcoin space that seems to have caused some disincentives to use it as a price barometer.

Like I said also, GDAX does not seem to be in line with the overall market as much as Bitstamp, and it just is not part of the broader practice to refer to it as a price barometer.
06-04-2017 11:39 PM
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Post: #4479
RE: The Bitcoin thread
Just broke through $2,600... and several exchanges simultaneously.. kind of following bitstamp.. seems to me.

Next resistance stopping point seems to be $2,760...

How long will it take? a few days? less? 48 hours?
(This post was last modified: 06-05-2017 10:02 AM by JayJuanGee.)
06-05-2017 09:54 AM
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redbeard Offline
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Post: #4480
RE: The Bitcoin thread
Martin Shkreli does a weekly livestream called "This Week In Investing." This week's episode featured a 22-minute dive into bitcoin.





My biggest takeaway was this very interesting analysis by Martin regarding "money velocity," which is defined as GDP/monetary base (GDP:M1).

We start by defining GDP as all transactions, and base as the aggregate value.

Examples:
US - 4.76
Euro - 1.56
Gold - 4.7

With this we can reverse engineer a hypothetical price for bitcoin.

Current GDP:M1 for gold:
2016 national traded value of gold = $36.5T
Aggregate gold wroth = $7.7T
Ratio = 4.7

2016 value traded BTC = $196B
Divide by 4.7
Aggregate BTC worth = $41B = $1,973/btc which it was a few days ago

Next we assume traded value BTC continues to grow to $1T, has same ratio of 4.7, this gives BTC price of $10,046. Boom.

Other Notes:

Martin is very bull bitcoin. He sees value in the ability to send money internationally, anonymously, and QUICKLY.

Fiat has no intrinsic value, but bitcoin's bartering value is high due to the freedom attached with it.

Martin talks some about how bitcoin is affecting the banks. A good move could be short JPM, BAC, C, WFC as they lose actual cash and long GS, MS. On the other hand you could short PVPL as people realize it's useless.

Martin suggests diversifying well and never putting >5-10% porfolio into bitcoin (whoops).

Threats:
-Ethereum - but he doesn't think many want an altcoin. The people want the gold standard, which is still bitcoin.
-Legislation - he even mentions online poker which was mentioned days ago in this thread.
-Coinbase transaction fee is high (so use GDAX instead)
06-05-2017 01:49 PM
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Post: #4481
RE: The Bitcoin thread
(06-05-2017 01:49 PM)redbeard Wrote:  Martin is very bull bitcoin. He sees value in the ability to send money internationally, anonymously, and QUICKLY.

Great post, will definitely check out the video, but had to point out that Bitcoin is NOT anonymous, it is pseudonymous.

That may change in the future, but in the meantime I expect the privacy coins (like Monero, Zcash, Particl, even Ethereum once they add zk-SNARKs) to continue holding a significant portion of the crypto market share.
06-05-2017 01:59 PM
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Post: #4482
RE: The Bitcoin thread
(06-05-2017 09:54 AM)JayJuanGee Wrote:  Just broke through $2,600... and several exchanges simultaneously.. kind of following bitstamp.. seems to me.

Next resistance stopping point seems to be $2,760...

How long will it take? a few days? less? 48 hours?

It seems like you were right about these things, which you posted a couple days ago. There was a somewhat of a small sell wall on coinbase (yes, I know) at 2630 and it was blown right through. There is a bigger one at 2650 but I guess we can expect the same results.

Do you think 2700 will be any trouble?

https://www.youtube.com/watch?v=WdhFJ5uArUc
(This post was last modified: 06-05-2017 03:01 PM by Stun.)
06-05-2017 03:01 PM
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Post: #4483
RE: The Bitcoin thread
(06-05-2017 01:49 PM)redbeard Wrote:  Martin suggests diversifying well and never putting >5-10% porfolio into bitcoin (whoops).

How do you guys manage this?

My original investment into bitcoin in November was about 15% of my portfolio. Because of the surge in price since then, my portfolio is now about 50% crypto. I'm not sure that cashing out and paying taxes in order to hit a specific "percent of portfolio" metric is logical, so I'm probably just going to hold.
06-05-2017 03:12 PM
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Post: #4484
RE: The Bitcoin thread
(06-05-2017 03:01 PM)Stun Wrote:  
(06-05-2017 09:54 AM)JayJuanGee Wrote:  Just broke through $2,600... and several exchanges simultaneously.. kind of following bitstamp.. seems to me.

Next resistance stopping point seems to be $2,760...

How long will it take? a few days? less? 48 hours?

It seems like you were right about these things, which you posted a couple days ago. There was a somewhat of a small sell wall on coinbase (yes, I know) at 2630 and it was blown right through. There is a bigger one at 2650 but I guess we can expect the same results.

Do you think 2700 will be any trouble?

I am kind of guessing too.

When I suggest the next resistance levels, I have a sense that lower levels will not provide too much resistance until getting to the next possible resistance levels - yet the problem with these kinds of assessments is that a reversal can happen at any time - except for the fact that "the trend is your friend" kind of difficulties for bears to fight these kinds of price momentums.. and in that regard, we seem likely to get past $2700 fairly easily, and may find a bit more at $2760, but find some kind of next mini-battle at $3k. I am thinking that we are going to get above $3k fairly easily, and might involve a bit of volume and a bit of back and forth, but shoot towards $4k.. the problem with $4k as the next target after $3k is that is quite a distance from $3k.. so likely somewhere in the middle, prior to $3600 we would experience some meaningful correction of 15% to 40% in order for some profit taking (which could be the mid to lower $2k.. and maybe even dipping below $2k). .

On the other hand, we have to have a bit of back and forth because if prices go up too quickly, then the correction would likely be larger and even last longer, too...

So far, the upwards since $890 has been somewhat gradual and with only the one decent and significant correction (from $2760 to $1850) which allows profit taking along the way. Anyhow, these circumstances continue to provide some level of further credence to arguments that the buying support remains pretty solid at these price levels and with this level of increase that may average out to quite less than 10% per week even though we had some spurt periods of 5% or more per day.. that kind of corrected...
06-05-2017 04:27 PM
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Post: #4485
RE: The Bitcoin thread
Oh my, oh my!!!!!!



Frequently sell walls can be reverse indicators, and yes we could be tricked; however, I am getting the sense that we are not being tricked and there really are not very many coins for sale on Stamp.

Sure there can be hidden sell orders, as well, yet currently, we have less than 1,000 coins for sale on Stamp to bring us above $3k (usually for this kind of a 20% price increase, we would have at least double that amount of coins on the books for sale.. and no one seems to want to sell? Wat's up like dat?)

https://www.bitstamp.net/market/order_book/

This is not playing boys.

You can call me an over-enthusiastic blind bull all that you want, but there are so many dynamics in place in the bitcoin scene that seems like we are going to be above $3k in no time....

yes, there is always the possibility that we are being faked out, and surely I am not engaging in buying advice because markets can change at any time... but the next 20% or so up, is looking like a piece of cake.. I may have to move into the 65% category for the ups, which is quite a strong assertion - for me... to even be looking 20% into the future in terms of immediacy...
(This post was last modified: 06-05-2017 07:02 PM by JayJuanGee.)
06-05-2017 06:58 PM
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Post: #4486
RE: The Bitcoin thread
(06-05-2017 06:58 PM)JayJuanGee Wrote:  Oh my, oh my!!!!!!



Frequently sell walls can be reverse indicators, and yes we could be tricked; however, I am getting the sense that we are not being tricked and there really are not very many coins for sale on Stamp.

Sure there can be hidden sell orders, as well, yet currently, we have less than 1,000 coins for sale on Stamp to bring us above $3k (usually for this kind of a 20% price increase, we would have at least double that amount of coins on the books for sale.. and no one seems to want to sell? Wat's up like dat?)

https://www.bitstamp.net/market/order_book/

This is not playing boys.

You can call me an over-enthusiastic blind bull all that you want, but there are so many dynamics in place in the bitcoin scene that seems like we are going to be above $3k in no time....

yes, there is always the possibility that we are being faked out, and surely I am not engaging in buying advice because markets can change at any time... but the next 20% or so up, is looking like a piece of cake.. I may have to move into the 65% category for the ups, which is quite a strong assertion - for me... to even be looking 20% into the future in terms of immediacy...

Since price seems to, currently, be going up so quickly with a likely $3k destination, I am thinking that because of that quick upwards we could either get decent resistance at that $3k point, or possibly, some loss of buying support as we approach $3k?.. but any correction would likely be in the less than 10% arena... .. so it seems like the odds would be lower that we would just blow past $3k within this run of within the next days.

On the other hand, we really should expect that we can put anything past bitcoin for sure, if there are some whale players who might be intent on punishing some of those people who chose to stay on the sidelines. Seems a bit early to call.. except to just watch with amazement.
06-05-2017 09:58 PM
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Post: #4487
RE: The Bitcoin thread
Not sure where to post this, so I'll give it a shot here first. How does one set up a beneficiary or protect their cryptos from being lost forever in an unlikely event like death or severe disability. If you have fiat and crypto tied up in online exchanges that no one knows about and even if they did they'd need my usernames, passwords, access to my cell phone and Authy (2-factor authentication) and possibly my email. What is everyone doing or what is the best solution? Or is everyone just hoping for the best?
06-06-2017 12:05 AM
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Post: #4488
RE: The Bitcoin thread
(06-06-2017 12:05 AM)white22 Wrote:  Not sure where to post this, so I'll give it a shot here first. How does one set up a beneficiary or protect their cryptos from being lost forever in an unlikely event like death or severe disability. If you have fiat and crypto tied up in online exchanges that no one knows about and even if they did they'd need my usernames, passwords, access to my cell phone and Authy (2-factor authentication) and possibly my email. What is everyone doing or what is the best solution? Or is everyone just hoping for the best?

Surely that is a great topic, yet I am sure that a large majority of guys are not well prepared for such.

I was going through one of my lists of accounts recently, and I figured that it is nearly impossible for me to even remember all of the scribble and all of the details, and at some point, I may need to pass this along - but at the same time, at another point, passwords and authorizations are changed too.. which causes a need to update any kind of info that could possibly be passed on to a successor.
06-06-2017 12:09 AM
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Post: #4489
RE: The Bitcoin thread
(06-06-2017 12:05 AM)white22 Wrote:  Not sure where to post this, so I'll give it a shot here first. How does one set up a beneficiary or protect their cryptos from being lost forever in an unlikely event like death or severe disability. If you have fiat and crypto tied up in online exchanges that no one knows about and even if they did they'd need my usernames, passwords, access to my cell phone and Authy (2-factor authentication) and possibly my email. What is everyone doing or what is the best solution? Or is everyone just hoping for the best?

I use a Ledger Nano S hardware wallet to store both my bitcoin and ether.

When first setting it up you're provided with a backup passphrase, and if you lose or break the wallet you simply enter that passphrase into a new one to instantly restore your funds.

I wrote my passphrase down on three sheets of paper, laminated them, and gave one to each of my parents for safekeeping, in addition to showing them how the wallet operates.
06-06-2017 12:12 AM
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Post: #4490
RE: The Bitcoin thread
Those are the 2 options i had thought of.

Having a list of accounts with usernames and passwords in a safe deposit box would be tedious and a nightmare to keep up to date with changing passwords and even new accounts.

Having a Ledger Nano S is a decent plan too, but I see that being a problematic for family members to find a specific "jump drive" and use it correctly. My parents are nt technically inclined, but aomething my brother could handle. Another drawback is when the cryptos are off the Ledger to be bought and sold.....or the fiat that is transferred to an exchange waiting to purchase cryptos.
06-06-2017 12:31 AM
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Post: #4491
RE: The Bitcoin thread
I guess you could have a preset list of passwords in order. Then you'd periodically update the master list and if anything did happen to you, your survivors would only have to try a few passwords at most.
06-06-2017 12:36 AM
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Post: #4492
RE: The Bitcoin thread
(06-06-2017 12:36 AM)white22 Wrote:  I guess you could have a preset list of passwords in order. Then you'd periodically update the master list and if anything did happen to you, your survivors would only have to try a few passwords at most.

I like the idea of the trezor, but it does not cover all scenarios, and maybe there would still be a large number of funds in other accounts.

One good thing about accounts is that there could be some ways for survivors to actually prove your death and then get access to the accounts, as long as they know about them and possibly know approximately how much value is kept in each of those accounts.

A couple of years ago, I created an instruction sheet, and I placed it in a safe location in which two of my potential successors would be able to get access to the safe location.

Earlier this year, I had some complications with security, and therefore I decided to update all of my accounts - and then also to update my "instruction sheet." I could not determine what the fuck from my instruction sheet - because quite a lot of my information had changed over the two years, but I had not kept the instruction sheet up to date. Thereafter, I figured that I needed to update my instruction sheet and to make it more clear.. but I have not gotten around to it yet... .l; fuck, I could get hit by an astroid at any moment, and then successors are going to get screwed.. even though the rest of the crypto community will prosper from those lost coins.

I think that keeping these matters up to date is a bitch, and coins are going to be lost - because even if we have good ideas, some of the value is likely to seep through some of the cracks, no?
06-06-2017 12:45 AM
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Post: #4493
RE: The Bitcoin thread
(06-05-2017 03:12 PM)redonion Wrote:  
(06-05-2017 01:49 PM)redbeard Wrote:  Martin suggests diversifying well and never putting >5-10% porfolio into bitcoin (whoops).

How do you guys manage this?

My original investment into bitcoin in November was about 15% of my portfolio. Because of the surge in price since then, my portfolio is now about 50% crypto. I'm not sure that cashing out and paying taxes in order to hit a specific "percent of portfolio" metric is logical, so I'm probably just going to hold.

Sure I have a similar dilemma, and I mentioned this topic in previous posts, too.

My initial goal in late 2013 was to invest about 10% of my total quasi-liquid finances into bitcoin, but to spread that investment over about the upcoming year (in six month increments, and reconsiderations at the end of each of those two 6 month periods)... however, since BTC prices continued to go down and down and down throughout 2014, by the end of 2014, I had a bit more than 10% of my quasi-liquid investment assets invested into bitcoin.. so then as we know, BTC prices remained kind of flat and low through 2015, as well, which caused me to continue to dollar cost average in, which caused my portfolio to approach a bit less than 15% of my quasi-liquid investment into bitcoin.

Thereafter, since late 2015, BTC price appreciation caused similar kinds of dynamics for me, in which my BTC holdings have approached 40% to 50% (depending on how counted) of my quasi-liquid investments.

The profitability of BTC related funds went from peak negative periods of about -65% in early 2015 to recent periods of more than 500% in the positive. Surely, with bitcoin we realize that we could have upwards or downwards price movements, so I considered that I could lose everything or that we could experience exponential price appreciation..

So, even though I did not count on exponential BTC price appreciation, I had considered exponential price appreciation as possible... and as a kind of icing on the cake of profits.

In any event, I always kind of kept in mind that a kind of exponential BTC price appreciation would be considered as a bit different from first investing kind of allocation - especially when we are talking about an asset that is likely in some early stages of an s-curve (not for certain, but surely possible).

I do understand the argument and the practice and the kind of dilemma that we have to be careful not to over-allocate ourselves into any one asset or area and to figure out ways to reallocate or to diversify some of the risk and to therefore protect ourselves from possible extra-ordinary decline in value - that is possible with any asset.

Yet, we also have to account for metcalfe (network) type situations and s-curve exponential growth so that we do not sell too much of our asset either in a premature way, merely because we might be erroneously considering the asset class as a possible mature asset class, when it is not.

To make my presentation of my own numbers more complicated, currently within my bitcoin allocation, I have holdings that are about 9% cash and about 91% bitcoin. and so as the price goes up I kind of adjust the percentage of cash that would be used for reinvestment, but surely I don't really have the system figured out with any kind of precision because sometimes I get nervous because I feel like I have too much cash within those holdings, and I get the sense that the cash is sitting there and it is not working.

I also do not really want to use any of that cash to buy real estate or PMs, though maybe some of that could be prudent, and I don't really want to diversify my investment into other crypto coins, even though some of that could be prudent, as well.

Allocation, reallocation and diversification are personal decisions, and some guys may profit more from their practices or may feel that they are more secure in their decisions, even if the decision might be less profitable than another guy. I don't consider that I am competing with any other guy, but merely trying to allocate as best to my own risk tolerances and timeline, etc.

I feel that I have a plan for both up, and down; however, frequently the market moves a bit differently than expected, and maybe I will rethink some of this if the price continues to go up, because sometimes making the plan becomes a lot more concrete when the dollars and bitcoin are actually on paper rather than speculative...
06-06-2017 03:33 PM
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Post: #4494
RE: The Bitcoin thread
The suspense is unbearable.
06-06-2017 04:57 PM
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Post: #4495
RE: The Bitcoin thread
(06-06-2017 04:57 PM)Satoshi Wrote:  The suspense is unbearable.

In what regard would there be any suspense for a guy like you?

If you have not taken any direct position in bitcoin (which I think that was your latest assertion), except hoping that it fails because of your investments in some various other cryptos or for some other mysterious reason that you are not disclosing, then why would there be any suspense for you regarding bitcoin?

I am having difficulties understanding why you would feel suspense at this time? The market is going to do whatever it is going to do, which seems like further up, no?

Let me try to get at this from another angle to see if I can attempt to better understand your interest in bitcoin, and the supposed "suspense."

Do you believe that there is some kind of zero sum game going on in the crypto space in respect to bitcoin's involvement? Of course, you seem to believe (possibly erroneously) that your investment in other cryptos is better off if bitcoin does worse, no? You also seem to believe that bitcoin's dying would be a good thing (which seems pretty unlikely to come true); however, you may not even recognize the perils of your own belief.

One of the seeming problematic areas is that you just seem to either want to compete with bitcoin in some kind of way or to be right about your earlier predictions in regards to bitcoin, but that should be a lost battle, no?

You can't really predict bitcoin's downfall all the way from $250 to $2,800, and then upon any possible bitcoin dip to reasonably argue that you were right all along, can you? I suppose anything is possible, but it seems like a bit of a distraction more than anything, no?

By the way guys, to try to stay somewhat on topic, I am trying to get some kind of gauge on the $3k overshoot.

I had the sense that we got up to $2,933 too quickly (from $2,600 to $2,933 in less than 24 hours) and so that could have caused a correction or a delay in going past $3k, but the buying support seems to continue, even with such an upwards spurt. Thus, going past $3k may bring us fairly easily into the $3,200s and $3,300s, but getting past $3,600 would likely call for some kind of correction. Thoughts?
06-06-2017 05:23 PM
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Satoshi Offline
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Post: #4496
RE: The Bitcoin thread
Maybe for someone the suspense is unbearable. Why do you have to take everything so personal? Bitcoin is on all time high, why so butt-hurt?
06-06-2017 07:22 PM
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Satoshi Offline
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Post: #4497
RE: The Bitcoin thread
Any Roosh V Forum member who are buying at this price?


[Image: ?u=https%3A%2F%2Fi.imgflip.com%2F1prmly....SXYhQTbwxQ]
06-07-2017 10:23 AM
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JayJuanGee Offline
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Post: #4498
RE: The Bitcoin thread
(06-07-2017 10:23 AM)Satoshi Wrote:  Any Roosh V Forum member who are buying at this price?


[Image: ?u=https%3A%2F%2Fi.imgflip.com%2F1prmly....SXYhQTbwxQ]


I doubt that you know enough about either the circumstances of other "RVF members" or the market dynamics of bitcoin to make such a blanket assertion with any level of confidence, and seems to only have a purpose of making fun of other guys who may be getting in or thinking of getting in, rather than serious considerations of realities and probabilities.

Furthermore, you have been making approximately the same kinds of assertions for nearly 2 years, since somewhere around $250, and we have about 12x appreciation since when you first started with such assertions.

Nothing is certain, but up continues to remain a bit more likely than down.. at least at this point... and I am not wishing, but instead making an assertion of likelihood, which your snide post does not address with any kind of serious assertion of facts or logic.
06-07-2017 11:47 AM
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Skank_Hunt Offline
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Post: #4499
RE: The Bitcoin thread
Satoshi if you hate Bitcoin so much then why do you keep trolling this thread? Why? If you have no interest in it other than to laugh at it (even as it continues to increase in value), then just go to some other thread and talk about whatever interests you, be that a travel thread or a thread about some other altcoin. I just don't understand why you keep at it. The only plausible explanation I can find is that you perhaps sold Bitcoin when you shouldn't have or you didn't buy it at $300 or whatever. I have that feeling about Dogecoin and ETC, that I should have bought them, but now I can't do anything about it so I don't pointlessly troll people who have Dogecoin or ETC. It is what it is. There's an ETH and altcoin thread where you can discuss any other coins you bought instead of Bitcoin, and you might even have a productive discussion over there.

JJG at this point there's no point in even responding, it's just a waste of your energy too.
06-07-2017 12:22 PM
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Post: #4500
RE: The Bitcoin thread
(06-07-2017 12:22 PM)Skank_Hunt Wrote:  JJG at this point there's no point in even responding, it's just a waste of your energy too.

It's difficult for me to really disagree with what you are saying, because sometimes these issues occur in other threads, too, and if you don't say anything, people are misled by the troll... maybe moreso for the thread reader who does not read too frequently. .. so it is kind of a catch 22.

So, sometimes I attempt to recognize a potential bright side to discuss some of the substance - regarding what is happening in bitcoin at the moment.

For example, right now, we had a pretty direct price rise from $890 to $2,760, but then a correction down to $1,850.. and in the past few days a pretty quick price rise from $1,550 to $1,933 - I mean that latest rise was a bit too quick - but it puts us in a decent launching position for breaking above $3k..

Of course, there are no guarantees, and we have been dumped on so many times in the past, so sure there are going to be a lot of folks who are nervous about this price and nervous about feeling the need to take profits.. so yeah, take some profits, if you have profits to take, but it seems to me that our current pause in the $2,700 to $2,900 range is not a bad thing.. and the odds are pretty decent for up from here, even though we could experience a few fake outs or even some more minor additional corrections before returning uppity.

I do feel a bit bad for some guys who may have known about bitcoin and failed to invest earlier, but it is what it is, and guys still have to chose, at this point what they are going to do based on if they want to get in or if they want to increase their holdings. So, yeah, any approach forward is going to depend on the guys circumstances.

On the other hand, there are a lot of guys who seem to be making a whole lot of bank in the alt crypto space, and as long as that is working out.. and maybe has a good several more months of possibilities on that, you cannot really argue against guys making money who want to take those risks and have spent some time setting up systems for themselves to dabble in those investments, whether they are employing quickie in and outs or some strategic longer plays. To each his own in that regard, and surely bitcoin is relatively less sexy than some of that, but there remain plenty of opportunities with bitcoin, even at the sub $3k price points...

exciting times, indeed.
06-07-2017 02:18 PM
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