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The Bitcoin (BTC) thread
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JayJuanGee Offline
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Post: #4526
RE: The Bitcoin thread
By the way, it may be worth mentioning some beginner guides to bitcoin and/or crypto.

The whole Bitcoin 101 Blackboard Series by James D’Angelo had a lot of really good educational points in regards to bitcoin, crypto and markets in general, even if they are several years old.


https://www.youtube.com/playlist?list=PL...dMapn9ff6q (A beginner's guide to all things bitcoin)
06-09-2017 03:14 PM
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NewDayNewFace Offline
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Post: #4527
RE: The Bitcoin thread
How would one but butcoin and eth?

Anyone here make a fortunate off bitcoin already. I'm sure some people are sitting real pretty.
06-09-2017 03:25 PM
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JayJuanGee Offline
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Post: #4528
RE: The Bitcoin thread
Here's an interesting article and chart that measures bitcoin's growth based on the growth in the number of APIs.


https://www.programmableweb.com/news/how...2017/06/08


The growth seems to be somewhat gradual, but ongoing... with a bit of a spurt in early 2014, and a little bit of a rise in the curve since early 2017.

One interesting metric.
06-09-2017 03:27 PM
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JayJuanGee Offline
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Post: #4529
RE: The Bitcoin thread
(06-09-2017 03:25 PM)NewDayNewFace Wrote:  How would one but butcoin and eth?

Anyone here make a fortunate off bitcoin already. I'm sure some people are sitting real pretty.


if you are in the USA, then good places to start buying is coinbase and gemini and maybe local bitcoins, depending on how quickly that you want to get started. Of course, there are other ways, too.

It takes a while to set up some accounts, so even if you do not plan to buy right away, it could be a good idea to set up some accounts, if you do not mind having your transactions through your bank.

Regarding past performance, you likely know the expression that past performance does not guarantee future results, and sometimes can even be a counter-indicator. Accordingly, sometimes you will need to attempt to accomplish an independent evaluation to figure out how you are going to approach the matter, rather than occupying your thoughts too much with whether or not other guys have made money or how much money they may have made.
06-09-2017 04:36 PM
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JayJuanGee Offline
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Post: #4530
RE: The Bitcoin thread
A while back I had made an assertion that there is some value in considering how much money is being pumped into bitcoin, and how much people are willing to pay for such use of bitcoin.

Accordingly, this exponential graph is quite interesting, showing the 7 day average for fees over the past 2 years.

It is quite amazing how much people seem to be willing to spend on transaction fees, and accordingly, I think that it is logical to conclude that there is some value in bitcoin when you see that people are spending more and more and more on these bitcoin related transaction fees, and seemingly willing to spend on fees on an ongoing basis. In that regard, actions speak louder than words.

https://blockchain.info/charts/transacti...pan=2years
06-09-2017 04:43 PM
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Armogan Offline
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Post: #4531
RE: The Bitcoin thread
06-09-2017 05:37 PM
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JayJuanGee Offline
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Post: #4532
RE: The Bitcoin thread
(06-09-2017 05:37 PM)Armogan Wrote:  The Truth on Transaction Fees

You keep repeating the same thing over and over and over.... which boils down to "nothing to see here."

O.k.. Sure you have your opinion, and you have a variety of ways of saying the same thing, yet you act as if I am failing to acknowledge the phenomenon.

In my multiple posts, I am acknowledging the phenomenon. It is a factor that there are higher and higher fees and there are longer and longer transaction times, but there is no exact direct conclusion that can be reached from those two factors because they are dynamic factors.


For example, I had two transactions yesterday, and I was a little bit nervous because a few weeks ago I had several transactions stuck in limbo land for days, I had a couple of transactions that were rejected and I had one that seemed to be rejected but then it got resent, seemingly automatically. Anyhow, based on those bad experiences, I decided to stick with the standard fee that was suggested in the blockchain.info wallet, rather than cutting the fee by $.20 or whatever.

So, yesterday my first transaction was for about $500 and the suggested fee was about $.75 and it took 166 minutes to confirm.

The second transaction was for about $1600, and the fee was about $.42, and it took about 108 minutes to confirm.

So, in the end, I was happy that the transactions went through in a fairly timely manner, but still there remains some concerns about changes in transaction times and fees.

Nonetheless, some of the points that I am making relates to BTC prices continuing to go up, in spite of these issues with fees and transaction times. The previously posted blockchain.info chart also shows that, overall, people seem to be wiling to pay more and more in fees to use the bitcoin network.

These are observations of factual information, and no one is saying that there is nothing to see, and there are other things going on, of course.

Of course we can recognize bitcoin as a portal for several other cryptos including Ethereum and other Ethereum related coins - even though Ethereum could be kind of a portal for some of those coins, too.

Another strange macro factor seems to be that there are so many fucking asset classes that are simultaneously going up, including stocks, bonds, precious metals, and even the multitude of alt cryptos (as we know from the other thread) and maybe the only inverse dropping is that the dollar seems to be going down a bit compared to the large majority of other markets going up.

So, it remains a bit of a mystery regarding how long and how far various markets are going to go up, and whether they are going to crash together or separately or perform disparately, at some point. Place your bets!!!! Place your bets!!!

Also, each of us likely knows that there are a variety of tactics that can be played and locking in now, does not preclude from playing another different combination down the road whether that is long term, short term, medium term or some combination of bets (winning or losing).
06-09-2017 06:31 PM
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Armogan Offline
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Post: #4533
RE: The Bitcoin thread
delete
(This post was last modified: 06-09-2017 06:57 PM by Armogan.)
06-09-2017 06:55 PM
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Cattle Rustler Offline
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Post: #4534
RE: The Bitcoin thread
(06-09-2017 03:25 PM)NewDayNewFace Wrote:  How would one but butcoin and eth?

Anyone here make a fortunate off bitcoin already. I'm sure some people are sitting real pretty.

Bro, read the thread. It has been asked endless times.

"May get ugly at times. But we get by. Real Niggas never die." - cdr
06-09-2017 07:50 PM
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CleanSlate Offline
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Post: #4535
RE: The Bitcoin thread
What I meant about what happened with BAT is that its ICO was a complete disaster and was shady as fuck. You just can't argue otherwise.

Only a few people got in on it, and others were completely shut out to their chagrin. Sure it went up 11x but only a few people benefited from it.

No sour grapes here, because I didn't even try to get in on that ICO. This is my point of view from the sidelines.

I hope other cryptos learn from this and conduct their ICOs better than that.
06-09-2017 09:50 PM
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CleanSlate Offline
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Post: #4536
RE: The Bitcoin thread
^ wrong thread. Should've been in the ETH thread.
06-10-2017 12:42 AM
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NewDayNewFace Offline
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Post: #4537
RE: The Bitcoin thread
Cattle,

I'm not going through 182 page thread when I can just ask the question here and I can get it answered. I got my answer however so don't even worry about it.

Thanks

Anyways, Bitcoin seems to be on the rise and finally has my attention.
06-10-2017 01:08 AM
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Armogan Offline
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Post: #4538
RE: The Bitcoin thread
Another day for the books, Bitcoin looking strong.

Forget the haters we did it guys.

https://rollercoasterguy.github.io/
(This post was last modified: 06-10-2017 01:17 AM by Armogan.)
06-10-2017 01:14 AM
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JayJuanGee Offline
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Post: #4539
RE: The Bitcoin thread
(06-10-2017 01:14 AM)Armogan Wrote:  Another day for the books, Bitcoin looking strong.

Forget the haters we did it guys.

https://rollercoasterguy.github.io/

I'm still not sure about what you are getting at.

I mean you attempt to suggest that you have mature ideas about investing, and I thought that you did not have any stake in bitcoin, or maybe you have a small stake?

And, this is not really a "we did it" moment, either.

Sure it feels pretty good to experience more than 12x price appreciation in less than 2 years, and maybe another potential to double from here in the short term, and maybe even some confidence to assert that the bitcoin is dead naysayers were wrong - but this matter still remains dynamic.. so, even though it is not a we did it and it could be a finding of an appreciating asset, it seems to be way too potentially volatile to rest on the laurels... so one of the short term expectations would be to bank on ongoing and continuing volatility and maybe figure out a way to profit from such volatility.

Sure, bitcoin may not be the only crypto in which RVF guys are going to be able to profit from anticipated ongoing volatility, yet maybe there are only a few that you can both bank on profiting from ongoing volatility and also expect that the coin is still going to be around several years from now and likely going to be priced higher several years from now, as compared with its price today. Bitcoin seems to be a pretty decent candidate to be securely in that category to expect continued volatility, long term higher value, and higher prices in the long term, even though short and medium term there could be price depreciation and even long term price depreciation - even though I continue to think that we have decent odds of going into the $4 to $6k territory before suffering a major correction and also decent odds of breaking above $3k this weekend or within a week, if it ends up taking a bit longer.. - but surely, I have been wrong before.
06-10-2017 04:16 AM
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JayJuanGee Offline
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Post: #4540
RE: The Bitcoin thread
The weekly candle just closed on Bitcoinwisdom.

So, now it appears that we have 10 out of the past 11 weekly candles as green, which can be very bullish, because they are gradual, but also could be a sign that the market is overinflated.

I personally believe that we could get 5 more weeks of upturn, but my view does not require all future weekly candles to be green, and I also could imagine scenarios in which the price goes up so fast during any particular week that it causes the continued upturn to come to a premature end, such as doubling price in a few days or even doubling in a week.

I know, I know, I am seeming to suggest prices that are even beyond my current price target range of $4k to $6k - but the price dynamics are kind of causing me such bullishness.

We have never previously had so much money flowing into the crypto space, and in essence we have had a pretty decent upsurge from $890 to nearly $3k - but also, it has taken about 11 weeks to make that movement - and in bitcoin's history, and the fact that we likely have metcalfe scenario, those kind of price moves would be considered as relatively mild, in the event that there is any kind of s-curve type growth dynamics going on here.

So, at the moment, I am rethinking my bearish thinking of $4k to $6k and wondering if just shy of $10k might be more reasonable for this run?.. hahahahaha.. another 3x-ish, rather than a 2x?
06-11-2017 08:18 PM
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CleanSlate Offline
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Post: #4541
RE: The Bitcoin thread
Price chart shows enormous resistance at 3k. I'm thinking if we pop that 2999.99 cap, it'll explode towards 4000.... and take ETH up with it to 400+, bringing all the other alt coins up with them.
(This post was last modified: 06-11-2017 09:25 PM by CleanSlate.)
06-11-2017 09:21 PM
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JayJuanGee Offline
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RE: The Bitcoin thread
(06-11-2017 09:21 PM)CleanSlate Wrote:  Price chart shows enormous resistance at 3k. I'm thinking if we pop that 2999.99 cap, it'll explode towards 4000.... and take ETH up with it to 400+, bringing all the other alt coins up with them.

It does seem that an appearance of resistance is building up at $3k, but I am not sure if it can be characterized as "enormous" because there could be some waiting by the maker and shaker bull whales about when to breach such $3k threshold.

The bulls do continue to seem to be in charge, and they may be waiting for the right time and the right amount of support to be present before going to the next battle staging point.

I agree with your remaining conclusions about the alts following, and they may follow 2x or 3x bitcoin's appreciation.. who the fuck knows? They can be all over the place... but I am thinking that we may experience another resistance point in bitcoin somewhere in the middle before reaching anywhere close to $4k (not sure how strong or how many days in the sub $3,600 territory). These kinds of resistance points seem to be necessary to allow support to catch up, but maybe at some point in time, this whole upwards price explosion is going to go parabolic, and then way overshoot itself and then cause a reversal to follow thereafter (and then we could expect a pretty decent correction, possibly below $2k - depending on how it plays out?)
06-11-2017 10:30 PM
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Post: #4543
RE: The Bitcoin thread
Looks like we've backed off from 3k, probably gonna flutter in the 2900s for a few more days.
06-11-2017 10:35 PM
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JayJuanGee Offline
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RE: The Bitcoin thread
(06-11-2017 10:35 PM)CleanSlate Wrote:  Looks like we've backed off from 3k, probably gonna flutter in the 2900s for a few more days.


could be?

I am thinking 2 hours at best to 48 hours at most..

but you could be correct...

Usually if we have this kind of bullish pressure throughout the weekend (meaning we have been teetering sub $3k all weekend, with little nibblings and getting closer several times), we will get something to happen either 1) by the end of the weekend, 2) monday or 3) tuesday morning at the latest... .. hahahaha.. you know I am guessing, too, but since we have had nibbling at new ATHs all weekend, I am thinking we are becoming more and more imminent to breach, upwards.
06-11-2017 10:44 PM
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Stun Offline
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Post: #4545
RE: The Bitcoin thread
This tweet solidifies the point I made the other day. Most people new to BTC don't know it's divisible, and this is a barrier to adoption.

Digital Garage is a co-working space that hosts a lot of San Francisco tech events at night. It caters to silicon valley startups and SF entrepreneurs - many of the people who would be key to widespread adoption.

https://twitter.com/cryptograffiti/statu...4274724865

https://www.youtube.com/watch?v=WdhFJ5uArUc
06-12-2017 01:11 AM
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JayJuanGee Offline
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Post: #4546
RE: The Bitcoin thread
(06-11-2017 10:44 PM)JayJuanGee Wrote:  
(06-11-2017 10:35 PM)CleanSlate Wrote:  Looks like we've backed off from 3k, probably gonna flutter in the 2900s for a few more days.


could be?

I am thinking 2 hours at best to 48 hours at most..

but you could be correct...

Usually if we have this kind of bullish pressure throughout the weekend (meaning we have been teetering sub $3k all weekend, with little nibblings and getting closer several times), we will get something to happen either 1) by the end of the weekend, 2) monday or 3) tuesday morning at the latest... .. hahahaha.. you know I am guessing, too, but since we have had nibbling at new ATHs all weekend, I am thinking we are becoming more and more imminent to breach, upwards.


Your suggestion of hovering, Cleanslate, seems to be playing out, and there could be some interesting dynamics with dumping of BTC and pumping of ETH. Will be interesting to see how it plays out because when dramatic occurs, it can become even more dramatic and even more parabolical.

Early stages,.... seems to be, action. and pretty intensive BTC dumps currently.

Edit: We might get a below $2k out of this dump.. and the seeming intensity of it.

Edit2: Although it could be a fake out too.. at first I saw ETH pump and BTC dump, but now, I see ETH dump, too.. In other words, when it is so intense like this, who the fuck knows, we could get reversals at any time in either one.. but it creates different dynamics if they pump or dump together or do the opposite.
(This post was last modified: 06-12-2017 06:03 AM by JayJuanGee.)
06-12-2017 05:50 AM
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JayJuanGee Offline
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Post: #4547
RE: The Bitcoin thread
Difficult to make a prediction, when we are only hours into a seemingly first leg of a dump.

Frequently, dumps come in twos or threes - however, I continue to have a bullish sense about this whole matter and that we are on the precipice of breaking above $3k - even though such journey has been delayed another time. Hahahaha.

Some folks might call the situation as a double or a triple top or some kind of multiplied and failed test to break through $3k, and I don't think that we are quite at the point to conclude that, yet.

So currently, we are floating in the mid-$2600s, approximately in the 10-15% (~12% average) correction territory... and maybe our current reasonable range is between $2,500 and $2,750... too early to call? I am not sure.

Anyhow, maybe at this time, I would put the odds a bit greater to break down before up.. and I am a bit uncomfortable to attempt anything beyond that without seeing how the next 6 to 18 hours play out.
(This post was last modified: 06-12-2017 05:36 PM by JayJuanGee.)
06-12-2017 05:23 PM
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JayJuanGee Offline
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Post: #4548
RE: The Bitcoin thread
This article has a decent bitcoin perspective - and to take into account the value proposition of bitcoin in comparison to other coins... emphasis on security.


https://cointelegraph.com/news/bitcoin-o...c-investor
06-12-2017 06:05 PM
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JayJuanGee Offline
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Post: #4549
RE: The Bitcoin thread
Funny. I came across some pretty interesting and bullish bitcoin articles today.

Must be the 12-17% correction that is causing desires for a rebound.. hahahahaha


1) Max Keiser is becoming known as a kind of pumper - but supposedly there is some kind of hedge fund that is going on that will potentially launch bitcoin into furtherdome,

https://cointelegraph.com/news/max-keise...coin-to-5k

2) four reasons why bitcoin is not in a bubble:

https://www.cryptocoinsnews.com/4-reason...ot-bubble/

I also had been thinking that the several mini-corrections below $3k is providing strength to the price and discounting any bubble arguments that might be argued.

3) a 3 minute video synopsis of a famous person, Steve Wozniak, becoming somewhat bullish and articulated on bitcoin (and maybe some other cryptos too).

http://www.cnbc.com/2017/06/12/apples-st...t-700.html


4) I am not sure if this article is worth noting, because it merely the plans of one more business to incorporate bitcoin into their payments system, and maybe some countries, such as Japan, are more friendly to the idea of bitcoin payments if they treat bitcoin like a currency rather than as a commodity.

https://news.bitcoin.com/japans-largest-...in-hotels/
06-12-2017 07:19 PM
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Gmac Offline
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Post: #4550
RE: The Bitcoin thread
(06-12-2017 01:11 AM)Stun Wrote:  This tweet solidifies the point I made the other day. Most people new to BTC don't know it's divisible, and this is a barrier to adoption.

Digital Garage is a co-working space that hosts a lot of San Francisco tech events at night. It caters to silicon valley startups and SF entrepreneurs - many of the people who would be key to widespread adoption.

https://twitter.com/cryptograffiti/statu...4274724865

I had no idea either until I started trading.

Vice-Captain - #TeamWaitAndSee
06-12-2017 10:40 PM
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