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The Bitcoin (BTC) thread
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MrLemon Offline
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Post: #8101
RE: The Bitcoin (BTC) thread
(06-21-2019 12:06 PM)Enhanced Eddie Wrote:  If TA worked, these people should be billionaires. I think TA is pretty good in predicting market sentiment based on past and current trends, but these aren't the only factors that impact price. During the last bull run, we saw the biggest price movements always based on something Korea did or didn't do... that doesn't show up in any TA. Also random moves by whales.... same story. If the biggest impacts on the market don't show up in TA, how valuable is it really?

25% of bitcoin is owned by a small group of whales.

Therefore TA is utterly useless. By definition. That is a mathematical fact.

So when somebody starts talking about TA, the best thing to do is hit yourself on the head with a ball peen hammer. After a while, you will develop a negative association -- TA causes extreme pain. This will teach you to never, ever listen or speak TA. Then you can start making real money in Bitcoin.
(This post was last modified: 06-21-2019 05:42 PM by MrLemon.)
06-21-2019 05:41 PM
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Enhanced Eddie Offline
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Post: #8102
RE: The Bitcoin (BTC) thread
(06-18-2019 11:59 PM)Enhanced Eddie Wrote:  The guys from World Crypto Network predicted 4 days ago that it'll cross the 9k line... and that the dragonball memes are going to get spammed everywhere which will then push it above 10k.

It worked! Meme Magick is real! Banana
06-21-2019 06:38 PM
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[email protected] Offline
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Post: #8103
RE: The Bitcoin (BTC) thread
5 figures. 20k before end of year hopefully
06-21-2019 06:55 PM
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bigolteddies Offline
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Post: #8104
RE: The Bitcoin (BTC) thread
We did it boys, this is just the begining
06-21-2019 07:01 PM
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Enhanced Eddie Offline
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Post: #8105
RE: The Bitcoin (BTC) thread
According to McAfee's prediction, the price belongs at about 67k already

https://diegorod.github.io/WillMcAfeeEatHisOwnDick/
06-21-2019 07:04 PM
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Dr. Howard Away
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Post: #8106
RE: The Bitcoin (BTC) thread
So, with facebook's "Libra" combined with the IRS putting cryptocurrency on the horizon for their next project I smell tax regulation coming soon. If you scoff and say "impossible", consider also, tax regulation, like forcing the use of banking style regulations is a way for the large corporate backers of Libra to kill their competition without having to buy them out.

Its the same move that big banks use in Canada, drug companies use in the US and to a lesser extent professional designations use. If you lobby for regulation to increase the barriers to entry to the market, especially if you've got big lobbying tits like Facebook, Mastercard, Visa and paypal, you can create a terrible product and still gain market share.

Even if they don't lobby for regulation on their own, having big, recognizable names in the market attracts the attention of legislators and bureaucrats. For example, no one cared about interstate sales tax until Amazon was the biggest player.

If you see headlines like "Zuckerberg to testify about cryptocurrency on capital hill" its coming.

Why do the heathen rage and the people imagine a vain thing? Psalm 2:1 KJV
06-21-2019 07:42 PM
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MrLemon Offline
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Post: #8107
RE: The Bitcoin (BTC) thread
(06-21-2019 06:55 PM)[email protected] Wrote:  5 figures. 20k before end of year hopefully

At the rate it's been going, it will be 20k ~ 7 months. So yeah, that's about right.

If it gets into FOMO territory, it could happen in a month. It's reaching for 11k right now.

OH WAIT! Damn, I started to do some prediction, which is close to TA. I have to hit myself on the skull with a ball peen hammer now to keep myself trained not to do that.

(sound of angry bellow, followed by long string of cursing)
(This post was last modified: 06-21-2019 11:05 PM by MrLemon.)
06-21-2019 11:04 PM
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Post: #8108
RE: The Bitcoin (BTC) thread
(06-21-2019 07:42 PM)Dr. Howard Wrote:  So, with facebook's "Libra" combined with the IRS putting cryptocurrency on the horizon for their next project I smell tax regulation coming soon. If you scoff and say "impossible", consider also, tax regulation, like forcing the use of banking style regulations is a way for the large corporate backers of Libra to kill their competition without having to buy them out.

I am a bit unclear about what points you are attempting to make, exactly.

You are suggesting that the various dynamics that you are mentioning, the facebook coin and increased governmental attention at bitcoin - and perhaps other cryptocurrencies (or other projects proclaiming to be similar to bitcoin) is going to cause bitcoin to become a less good investment?

Are you trying to suggest that guys should not be investing into bitcoin because of the dynamics that you are mentioning.. or if they have to pay taxes.. of course, tax treatment is going to differ from jurisdiction to jurisdiction, but having to pay taxes in certain circumstances is not going to kill bitcoin.

And, are you suggesting that facebook coin is some kind of meaningful competition to bitcoin? If so, you certainly have some kind of limited understanding what bitcoin is and what bitcoin is bringing to the space.. which really, so far, bitcoin has no competition.. .think sound money.... facebook is not sound money. It is an attempt at a payment system that has not even launched yet, but it has been announced.. and what has been announced and what might end up playing out could be a lot of differences, even given them some kind of best case scenario that they are both going to be able to do whatever they want and/or that they are going to be able to take some uses cases away from bitcoin (which remains a BIG ASS assumption, at this point... before the stupid thing has even launched).


(06-21-2019 07:42 PM)Dr. Howard Wrote:  Its the same move that big banks use in Canada, drug companies use in the US and to a lesser extent professional designations use. If you lobby for regulation to increase the barriers to entry to the market, especially if you've got big lobbying tits like Facebook, Mastercard, Visa and paypal, you can create a terrible product and still gain market share.

You think bitcoin cares about these attempts to peg it as "unable to compete.," Who gives any shits? really? If you find uses cases in facebook coin and master card and paypal, then use those services. They are a bit different than bitcoin, and in the end, bitcoin is likely to eat their lunches because bitcoin empowers individuals in the control of their value.. not merely a payment system...

You seen to be making a lot of quasi-baseless assumptions, Dr. Howard, including that bitcoin is not going to retain any kind of sufficient or even competitive use cases because facebook is coming into the scene with some snake oil imitation that is not as powerful as you and perhaps other mainstream media pundits are making it out to be.


(06-21-2019 07:42 PM)Dr. Howard Wrote:  Even if they don't lobby for regulation on their own, having big, recognizable names in the market attracts the attention of legislators and bureaucrats. For example, no one cared about interstate sales tax until Amazon was the biggest player.
Good. Great. Let's see how some of this plays out, and if you choose to invest in those other projects, sell your bitcoin or short bitcoin, then that is your choice. Maybe you will be correct, and maybe you will not. seems a bit premature to suggesting that they are going to cause the death and or demise of bitcoin, except that some folks are putting out that kind of baseless speculation in an attempt to suggest that facebook coin is actually some kind of meaningful competitor to bitcoin, when from my point of view, which I believe is likely correct, they are much different in a very meaningful way, and that is the sound money aspect, which is where bitcoin is still going to blow those bitcoin imitation projects (such as facebook coin) out of the water, even if it could take a decent amount of time to play out to the extent that some folks might get mislead into thinking that facebook coin (presuming a kind of successful launch) is actually adding value and taking something meaningful away from bitcoin.

(06-21-2019 07:42 PM)Dr. Howard Wrote:  If you see headlines like "Zuckerberg to testify about cryptocurrency on capital hill" its coming.

So what? Your referring to zuck bucks as a crypto currency that is similar to bitcoin is quite misleading, and there are going to be a decent amount of folks who are sufficiently familiar with bitcoin to be able to recognize the difference and not be detracted by nonsensical attempts at false equivalencies.
06-22-2019 01:12 AM
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JayJuanGee Offline
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RE: The Bitcoin (BTC) thread
(06-21-2019 11:04 PM)MrLemon Wrote:  
(06-21-2019 06:55 PM)[email protected] Wrote:  5 figures. 20k before end of year hopefully

At the rate it's been going, it will be 20k ~ 7 months. So yeah, that's about right.

If it gets into FOMO territory, it could happen in a month. It's reaching for 11k right now.

OH WAIT! Damn, I started to do some prediction, which is close to TA. I have to hit myself on the skull with a ball peen hammer now to keep myself trained not to do that.

(sound of angry bellow, followed by long string of cursing)

Yeah.. keep hitting yourself. Would not want to attempt to put any kind of expectation on anything. Laugh

By the way, I was a bit surprised by the amount of overshoot that we got so quickly past $10k.. so currently, the local high is $10, 916, so yeah, perhaps we are going to get a decent correction now.. but really hard to tell, for sure.

Since April 1, and the break above $4,200, we have only had a few short lived price corrections that were in the 15% to 25% arena, so taking some kind of breather might not be a bad idea, but it could be true that the level of FUD spreading out there, including some of the continued baloney about bcashSV and craig wright and now some of this recent facebook coin baloney, this kind of negative nonsense could lend to some additional fueling of BTC's in the upward price direction... Punish some of the dumbasses.

But anyhow, we will see. Gosh, there has been so much upwards, that some kind of downward correction and a bit of a pause would also feel comfortable - even though such a downward correction or pause is not any kind of condition precedent that must happen in order for bitcoin's price to continue upwards, so in that respect, it still remains a decent practice for guys to prepare themselves financially and psychologically that Bitcoin's price could move in either direction in the short-term.
06-22-2019 01:22 AM
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Tongue RE: The Bitcoin (BTC) thread
(06-20-2019 11:14 PM)randomA Wrote:  I am so baffled by this parabola not having had any retrace whatsoever yet.
even the last bullrun had some correction here and there along the way, and yet i wasnt in crypto yet.
this is ridiculous, and i'm going to miss this bullrun as well considering that i have been sitting in fiat all this while. yikes.

I'm starting to think the supply of available bitcoins to buy on the open market is simply drying up and hence driving the price up. I got my lowest order filled during the bear market at $3,350 - feeling pretty good right now.Banana
06-22-2019 02:20 AM
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MrLemon Offline
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Post: #8111
RE: The Bitcoin (BTC) thread
(06-22-2019 01:22 AM)JayJuanGee Wrote:  so currently, the local high is $10, 916, so yeah, perhaps we are going to get a decent correction now..

No no no. You are trying to analyze/make predictions.

Time to hit yourself on the head with a hammer. Trust me, it's for your own good. Banana
06-22-2019 11:53 AM
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SilentOne Offline
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RE: The Bitcoin (BTC) thread
Bitcoin shooting up like crazy again hitting 11,000. I remember when I was debating about hopping on the ride at 4800 Dodgy
06-22-2019 12:24 PM
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Dr. Howard Away
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Post: #8113
RE: The Bitcoin (BTC) thread
(06-22-2019 01:12 AM)JayJuanGee Wrote:  
(06-21-2019 07:42 PM)Dr. Howard Wrote:  So, with facebook's "Libra" combined with the IRS putting cryptocurrency on the horizon for their next project I smell tax regulation coming soon. If you scoff and say "impossible", consider also, tax regulation, like forcing the use of banking style regulations is a way for the large corporate backers of Libra to kill their competition without having to buy them out.

I am a bit unclear about what points you are attempting to make, exactly.

You are suggesting that the various dynamics that you are mentioning, the facebook coin and increased governmental attention at bitcoin - and perhaps other cryptocurrencies (or other projects proclaiming to be similar to bitcoin) is going to cause bitcoin to become a less good investment?

Are you trying to suggest that guys should not be investing into bitcoin because of the dynamics that you are mentioning.. or if they have to pay taxes.. of course, tax treatment is going to differ from jurisdiction to jurisdiction, but having to pay taxes in certain circumstances is not going to kill bitcoin.

And, are you suggesting that facebook coin is some kind of meaningful competition to bitcoin? If so, you certainly have some kind of limited understanding what bitcoin is and what bitcoin is bringing to the space.. which really, so far, bitcoin has no competition.. .think sound money.... facebook is not sound money. It is an attempt at a payment system that has not even launched yet, but it has been announced.. and what has been announced and what might end up playing out could be a lot of differences, even given them some kind of best case scenario that they are both going to be able to do whatever they want and/or that they are going to be able to take some uses cases away from bitcoin (which remains a BIG ASS assumption, at this point... before the stupid thing has even launched).


(06-21-2019 07:42 PM)Dr. Howard Wrote:  Its the same move that big banks use in Canada, drug companies use in the US and to a lesser extent professional designations use. If you lobby for regulation to increase the barriers to entry to the market, especially if you've got big lobbying tits like Facebook, Mastercard, Visa and paypal, you can create a terrible product and still gain market share.

You think bitcoin cares about these attempts to peg it as "unable to compete.," Who gives any shits? really? If you find uses cases in facebook coin and master card and paypal, then use those services. They are a bit different than bitcoin, and in the end, bitcoin is likely to eat their lunches because bitcoin empowers individuals in the control of their value.. not merely a payment system...

You seen to be making a lot of quasi-baseless assumptions, Dr. Howard, including that bitcoin is not going to retain any kind of sufficient or even competitive use cases because facebook is coming into the scene with some snake oil imitation that is not as powerful as you and perhaps other mainstream media pundits are making it out to be.


(06-21-2019 07:42 PM)Dr. Howard Wrote:  Even if they don't lobby for regulation on their own, having big, recognizable names in the market attracts the attention of legislators and bureaucrats. For example, no one cared about interstate sales tax until Amazon was the biggest player.
Good. Great. Let's see how some of this plays out, and if you choose to invest in those other projects, sell your bitcoin or short bitcoin, then that is your choice. Maybe you will be correct, and maybe you will not. seems a bit premature to suggesting that they are going to cause the death and or demise of bitcoin, except that some folks are putting out that kind of baseless speculation in an attempt to suggest that facebook coin is actually some kind of meaningful competitor to bitcoin, when from my point of view, which I believe is likely correct, they are much different in a very meaningful way, and that is the sound money aspect, which is where bitcoin is still going to blow those bitcoin imitation projects (such as facebook coin) out of the water, even if it could take a decent amount of time to play out to the extent that some folks might get mislead into thinking that facebook coin (presuming a kind of successful launch) is actually adding value and taking something meaningful away from bitcoin.

(06-21-2019 07:42 PM)Dr. Howard Wrote:  If you see headlines like "Zuckerberg to testify about cryptocurrency on capital hill" its coming.

So what? Your referring to zuck bucks as a crypto currency that is similar to bitcoin is quite misleading, and there are going to be a decent amount of folks who are sufficiently familiar with bitcoin to be able to recognize the difference and not be detracted by nonsensical attempts at false equivalencies.

Baseless assumption? Its already started https://www.coindesk.com/fatf-crypto-travel-rule the reporting the following information on exchange transactions is now 'reccomended' and will turn into 'regulations' inevitably. Specifically this information

Quote:(i) originator’s name (i.e., the sending customer);
(ii) originator’s account number where such an account is used to process the transaction (e.g., the VA wallet);
(iii) originator’s physical (geographical) address, or national identity number, or customer identification number (i.e., not a transaction number) that uniquely identifies the originator to the ordering institution, or date and place of birth;
(iv) beneficiary’s name; and
(v) beneficiary account number where such an account is used to process the transaction (e.g., the VA wallet).

Bitcoin itself cannot be targeted or regulated because of how it operates. So what does the government do?

If they can't target the product, they will target the users. The IRS has already selected crypto as its next pet project and auditors at the IRS are already trained to believe that the only people who use it are money launderers and criminals. This has been repeated in different forms for decades. Bootleg alchohol and moonshine through the 1st half of the century, bartering in the 70s, tax resisters in the 80s+90s, paypal type transactions in the 2000s, offshore bank accounts in the 2010s, bitcoin, ecommerce and weed now.

All that it takes is for whatever the new 'trend' to become a target is for it to become 'front of mind' for regulators and legislators. This is why Libra matters. Zuckbucks will bring the 'idea' of cryptocurrency to the forefront of legislators and the public's minds, the same way that Amazon's presence forced the Wayfair case to be decided, In the sameway that paypal's growth forced it in the 2000s, the same way that Irwin Schiff's popularity forced it in the 90s, the same way that google forced the international regulations in the 2000s.

That is the "so what"

If Libra actually launches, the US will implement tax regulations and audit programs that target individuals who hold anything but Libra.

History repeats itself, I've worked through 3 waves of these events so far in my career and the government will get its pound of flesh, either directly or indirectly. My advice to bitcoin holders is to reserve some of your war chest for defense when Crytpo's time in the tax and regulatory spotlight comes, because it is coming.

Why do the heathen rage and the people imagine a vain thing? Psalm 2:1 KJV
06-22-2019 12:42 PM
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JayJuanGee Offline
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RE: The Bitcoin (BTC) thread
(06-22-2019 12:42 PM)Dr. Howard Wrote:  
(06-22-2019 01:12 AM)JayJuanGee Wrote:  
(06-21-2019 07:42 PM)Dr. Howard Wrote:  So, with facebook's "Libra" combined with the IRS putting cryptocurrency on the horizon for their next project I smell tax regulation coming soon. If you scoff and say "impossible", consider also, tax regulation, like forcing the use of banking style regulations is a way for the large corporate backers of Libra to kill their competition without having to buy them out.

I am a bit unclear about what points you are attempting to make, exactly.

You are suggesting that the various dynamics that you are mentioning, the facebook coin and increased governmental attention at bitcoin - and perhaps other cryptocurrencies (or other projects proclaiming to be similar to bitcoin) is going to cause bitcoin to become a less good investment?

Are you trying to suggest that guys should not be investing into bitcoin because of the dynamics that you are mentioning.. or if they have to pay taxes.. of course, tax treatment is going to differ from jurisdiction to jurisdiction, but having to pay taxes in certain circumstances is not going to kill bitcoin.

And, are you suggesting that facebook coin is some kind of meaningful competition to bitcoin? If so, you certainly have some kind of limited understanding what bitcoin is and what bitcoin is bringing to the space.. which really, so far, bitcoin has no competition.. .think sound money.... facebook is not sound money. It is an attempt at a payment system that has not even launched yet, but it has been announced.. and what has been announced and what might end up playing out could be a lot of differences, even given them some kind of best case scenario that they are both going to be able to do whatever they want and/or that they are going to be able to take some uses cases away from bitcoin (which remains a BIG ASS assumption, at this point... before the stupid thing has even launched).


(06-21-2019 07:42 PM)Dr. Howard Wrote:  Its the same move that big banks use in Canada, drug companies use in the US and to a lesser extent professional designations use. If you lobby for regulation to increase the barriers to entry to the market, especially if you've got big lobbying tits like Facebook, Mastercard, Visa and paypal, you can create a terrible product and still gain market share.

You think bitcoin cares about these attempts to peg it as "unable to compete.," Who gives any shits? really? If you find uses cases in facebook coin and master card and paypal, then use those services. They are a bit different than bitcoin, and in the end, bitcoin is likely to eat their lunches because bitcoin empowers individuals in the control of their value.. not merely a payment system...

You seen to be making a lot of quasi-baseless assumptions, Dr. Howard, including that bitcoin is not going to retain any kind of sufficient or even competitive use cases because facebook is coming into the scene with some snake oil imitation that is not as powerful as you and perhaps other mainstream media pundits are making it out to be.


(06-21-2019 07:42 PM)Dr. Howard Wrote:  Even if they don't lobby for regulation on their own, having big, recognizable names in the market attracts the attention of legislators and bureaucrats. For example, no one cared about interstate sales tax until Amazon was the biggest player.
Good. Great. Let's see how some of this plays out, and if you choose to invest in those other projects, sell your bitcoin or short bitcoin, then that is your choice. Maybe you will be correct, and maybe you will not. seems a bit premature to suggesting that they are going to cause the death and or demise of bitcoin, except that some folks are putting out that kind of baseless speculation in an attempt to suggest that facebook coin is actually some kind of meaningful competitor to bitcoin, when from my point of view, which I believe is likely correct, they are much different in a very meaningful way, and that is the sound money aspect, which is where bitcoin is still going to blow those bitcoin imitation projects (such as facebook coin) out of the water, even if it could take a decent amount of time to play out to the extent that some folks might get mislead into thinking that facebook coin (presuming a kind of successful launch) is actually adding value and taking something meaningful away from bitcoin.

(06-21-2019 07:42 PM)Dr. Howard Wrote:  If you see headlines like "Zuckerberg to testify about cryptocurrency on capital hill" its coming.

So what? Your referring to zuck bucks as a crypto currency that is similar to bitcoin is quite misleading, and there are going to be a decent amount of folks who are sufficiently familiar with bitcoin to be able to recognize the difference and not be detracted by nonsensical attempts at false equivalencies.

Baseless assumption? Its already started https://www.coindesk.com/fatf-crypto-travel-rule the reporting the following information on exchange transactions is now 'reccomended' and will turn into 'regulations' inevitably. Specifically this information

Quote:(i) originator’s name (i.e., the sending customer);
(ii) originator’s account number where such an account is used to process the transaction (e.g., the VA wallet);
(iii) originator’s physical (geographical) address, or national identity number, or customer identification number (i.e., not a transaction number) that uniquely identifies the originator to the ordering institution, or date and place of birth;
(iv) beneficiary’s name; and
(v) beneficiary account number where such an account is used to process the transaction (e.g., the VA wallet).

Bitcoin itself cannot be targeted or regulated because of how it operates. So what does the government do?

If they can't target the product, they will target the users. The IRS has already selected crypto as its next pet project and auditors at the IRS are already trained to believe that the only people who use it are money launderers and criminals. This has been repeated in different forms for decades. Bootleg alchohol and moonshine through the 1st half of the century, bartering in the 70s, tax resisters in the 80s+90s, paypal type transactions in the 2000s, offshore bank accounts in the 2010s, bitcoin, ecommerce and weed now.

All that it takes is for whatever the new 'trend' to become a target is for it to become 'front of mind' for regulators and legislators. This is why Libra matters. Zuckbucks will bring the 'idea' of cryptocurrency to the forefront of legislators and the public's minds, the same way that Amazon's presence forced the Wayfair case to be decided, In the sameway that paypal's growth forced it in the 2000s, the same way that Irwin Schiff's popularity forced it in the 90s, the same way that google forced the international regulations in the 2000s.

That is the "so what"

If Libra actually launches, the US will implement tax regulations and audit programs that target individuals who hold anything but Libra.

History repeats itself, I've worked through 3 waves of these events so far in my career and the government will get its pound of flesh, either directly or indirectly. My advice to bitcoin holders is to reserve some of your war chest for defense when Crytpo's time in the tax and regulatory spotlight comes, because it is coming.

I still think that the point that you are attempting to make is a BIG so what.

In some kind of way, you seem to be assuming that guys here are in bitcoin in order to dodge and avoid the government, and sure there may be some truth in that, but it really is not a fair characterization.

Guys can use bitcoin for whatever use case that they can find and figure out the extent to which they can attempt to maximize their own position, whether that means using bitcoin or some other tools that might be at their disposal.

You also seem to be assuming that Libra, or something like it, is going to become the officially sanctioned way, and everything else is going to become a target for the government... Again, a lot of assumptions.

Whether bitcoin is a good investment or not or has good use cases for guys seems to be a bit of a different question than your seeming scare-mongering about bitcoin's future in light of recent developments. Again.. BIG so what?

Even though some of the details of how matters are evolving might not have been known previously, there is likely little doubt that guys who study the bitcoin space would have expected various kinds of possible continued and increasing attacks towards bitcoin, whether from government, financial institutions, purported competitors or a variety of these kinds of entities.

Bitcoin is built with these kinds of attacks in mind, so let's see how it plays out. What are you doing, Dr. Howard? You shorting bitcoin? Refusing to buy... or just FUDding about it? What is your personal plan, and what is your allocation with bitcoin? Guys should be making these kinds of decisions in order to figure out if bitcoin can fit with their own personal plans, empowerment and possible financial hedging success. None of those considerations are taken away because of some BIG player (namely facebook) is attempting to take some position in the space.

Certainly, I would not be suggesting that guys ignore facebook, just like they should not be ignoring various shitcoins in the space, but they can still account for changes in dynamics in the space without getting caught up on some doom and gloom thinking that bitcoin is dead again because of some of the changes in dynamics and all of a sudden they are scared because "individually they are going to be a "target."

Many rewards require some amount of risk and some amount of recognizing value where others do not recognize value. Question for guys, including you, Dr. Howard, will continue to be whether you recognize value and if you are incorporating bitcoin into your investment plan are mere failing to act or sitting on the fence because of x, y or z reason. Don't get me wrong, I am interested in this topic, but I could give two fucks about whether guys actually decide to invest in bitcoin.. That remains their choice, even while I continue to believe that bitcoin remains a decently good hedge against various other kinds of investment... including to be largely none correlated to other investments (and on an ongoing s-curve exponential adoption that is like going to continue for several years into the near future).... So do what you want, and maybe you should mention your own plans here, since you are seeming to want to edumacate us about the current dynamics of bitcoin... including but seemingly not limited to how government regs are going to play out and facebook coins role in such. Laugh
06-22-2019 01:09 PM
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JayJuanGee Offline
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Post: #8115
RE: The Bitcoin (BTC) thread
(06-22-2019 12:24 PM)SilentOne Wrote:  Bitcoin shooting up like crazy again hitting 11,000. I remember when I was debating about hopping on the ride at 4800 Dodgy

Apparently, you did not do it.

You can still create an onboarding plan... It is not too late to start, even if there has been a bit more than a 2.5x price increase in the past nearly 3 months. The next couple of years are likely to be decently good, but of course, there are no guarantees including the fact that if BTC attempts to take off into the moon too much and too early, then there would be more chances of large corrections and even delays in the rocket launch.

Anyhow, guys can still create prudently tailored individual plans that attempt to account for the various possible short and longer term possible outcomes in respect to bitcoin.
06-22-2019 01:14 PM
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SilentOne Offline
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Post: #8116
RE: The Bitcoin (BTC) thread
Anything that moves up this fast can definitely fall just as fast. As we saw the correction in 2018. Although i think it will be more stable now because multiple different sources are now accepting Cryptocurrency like bitcoins. Right now Ethereum or Litecoin seems more doable to get into at these price ranges. All 3 I believe will get new all time highs.
06-22-2019 01:55 PM
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JayJuanGee Offline
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Post: #8117
RE: The Bitcoin (BTC) thread
(06-22-2019 01:55 PM)SilentOne Wrote:  Anything that moves up this fast can definitely fall just as fast. As we saw the correction in 2018.

Of course, guys should be prepared that there could be a BIG crash, but there is also other things going on here.

We are not in 2018 no more. In other words, the trend is your friend.


(06-22-2019 01:55 PM)SilentOne Wrote:  Although i think it will be more stable now because multiple different sources are now accepting Cryptocurrency like bitcoins.

Yes. A lot of people in bitcoin and in crypto more broadly hope for stable and even suggest that it is going to happen.

One of the things that you likely can count on most in bitcoin (let's stick mostly with a bitcoin focus here, because this is a bitcoin thread) is that it is going to continue to remain unstable (in other words highly volatile) for many years to come.

Bitcoin remains in a status that is likely still less than 1% of world adoption in regards to people who actually have some kind of decent stake in bitcoin, so bitcoin is still a little ass baby. Sure, you are likely correct that more and more BIGGER players are getting into bitcoin, but that is not going to cause bitcoin to become more stable in the short term, merely based on those kinds of increased financialization dynamics that are entering into the space. In other words, the financialization cuts both ways, and the battle for price continues and the disagreement about price continues amongst the bigger players, perhaps until they get worn out or until they do not have enough capital to find it worth their efforts to attempt to push BTC's price in their desired direction by hook or by crook or by whatever means they can figure out to attempt to make money on the situation (where there remains a lot of money that can be made, even perceived to be more by those who are positions to attempt to make bitcoin their little play thing).

(06-22-2019 01:55 PM)SilentOne Wrote:  Right now Ethereum or Litecoin seems more doable to get into at these price ranges. All 3 I believe will get new all time highs.

Don't lose track of what bitcoin is with your seemed distraction about those shitcoin imitator, wannabes. In the short term, you are likely to be correct, shitcoins, including the two that you mentioned, are going to hang onto bitcoin's coattails and may even have periods of their price performance that exceeds bitcoin's price performance. But mere short term price performance is not going to cause them to be anywhere near to equals of bitcoin or even offering anything of any kind of meaning (beyond being test platforms) that bitcoin cannot offer or achieve with its actual decentralized and securely immutable system that includes the network effects of the best and the brightest and the fundamental paradigm shifting foundational aspects.
06-22-2019 02:43 PM
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SpursFan741 Offline
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Post: #8118
RE: The Bitcoin (BTC) thread
What will be the influence from the digital coin that Facebook will launch on the BTC? It will be linked to the Euro and USD. According to experts I was talking to this could be fatal for the bitcoin.
06-22-2019 02:52 PM
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Dr. Howard Away
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Post: #8119
RE: The Bitcoin (BTC) thread
(06-22-2019 01:09 PM)JayJuanGee Wrote:  
(06-22-2019 12:42 PM)Dr. Howard Wrote:  
(06-22-2019 01:12 AM)JayJuanGee Wrote:  [quote='Dr. Howard' pid='1993860' dateline='1561164176']
So, with facebook's "Libra" combined with the IRS putting cryptocurrency on the horizon for their next project I smell tax regulation coming soon. If you scoff and say "impossible", consider also, tax regulation, like forcing the use of banking style regulations is a way for the large corporate backers of Libra to kill their competition without having to buy them out.

...


....
That is the "so what"

If Libra actually launches, the US will implement tax regulations and audit programs that target individuals who hold anything but Libra.

History repeats itself, I've worked through 3 waves of these events so far in my career and the government will get its pound of flesh, either directly or indirectly. My advice to bitcoin holders is to reserve some of your war chest for defense when Crytpo's time in the tax and regulatory spotlight comes, because it is coming.

I still think that the point that you are attempting to make is a BIG so what.

...

...

maybe you should mention your own plans here, since you are seeming to want to edumacate us about the current dynamics of bitcoin... including but seemingly not limited to how government regs are going to play out and facebook coins role in such. Laugh

Unfortunately this is where the discussion becomes difficult as I would love to divulge the specifics of my day job, clients, etc. but going into that in order to attempt to win an internet argument isn't a good idea.

You are ultimately correct though I'm not an bitcoin investor nor do I hold any, so what would I know about government regulations relating to cryptocurrency? Your question, which I ultimately can't answer fully should have been

"Doc Howard, what makes you such an expert on government regulation of bitcoin to talk to us about government regulation of bitcoin?"

and my answer can only be, if you ever get audited, you just might find out!

Why do the heathen rage and the people imagine a vain thing? Psalm 2:1 KJV
06-22-2019 03:00 PM
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JayJuanGee Offline
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Post: #8120
RE: The Bitcoin (BTC) thread
(06-22-2019 02:52 PM)SpursFan741 Wrote:  What will be the influence from the digital coin that Facebook will launch on the BTC? It will be linked to the Euro and USD. According to experts I was talking to this could be fatal for the bitcoin.

You are listening to the wrong people or reading the wrong sources if you believe that facebook coin is going to have a negative effect on bitcoin, whether directly or indirectly. Sure, it is going to have effects, but those effects are far from clear, including the fact that the project has not even launched yet.
06-22-2019 03:03 PM
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JayJuanGee Offline
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Post: #8121
RE: The Bitcoin (BTC) thread
(06-22-2019 03:00 PM)Dr. Howard Wrote:  
(06-22-2019 01:09 PM)JayJuanGee Wrote:  
(06-22-2019 12:42 PM)Dr. Howard Wrote:  
(06-22-2019 01:12 AM)JayJuanGee Wrote:  [quote='Dr. Howard' pid='1993860' dateline='1561164176']
So, with facebook's "Libra" combined with the IRS putting cryptocurrency on the horizon for their next project I smell tax regulation coming soon. If you scoff and say "impossible", consider also, tax regulation, like forcing the use of banking style regulations is a way for the large corporate backers of Libra to kill their competition without having to buy them out.

...


....
That is the "so what"

If Libra actually launches, the US will implement tax regulations and audit programs that target individuals who hold anything but Libra.

History repeats itself, I've worked through 3 waves of these events so far in my career and the government will get its pound of flesh, either directly or indirectly. My advice to bitcoin holders is to reserve some of your war chest for defense when Crytpo's time in the tax and regulatory spotlight comes, because it is coming.

I still think that the point that you are attempting to make is a BIG so what.

...

...

maybe you should mention your own plans here, since you are seeming to want to edumacate us about the current dynamics of bitcoin... including but seemingly not limited to how government regs are going to play out and facebook coins role in such. Laugh

Unfortunately this is where the discussion becomes difficult as I would love to divulge the specifics of my day job, clients, etc. but going into that in order to attempt to win an internet argument isn't a good idea.

Is there some reason that we should either be arguing or attempting to win such arguments? Can't we merely be considering this as a place to be able to attempt to share information regarding the thread topic?

Sure, if you are overall bearish, then odds would be that you would not invest in bitcoin at all, yet whether that is based on mistaken ideas or just the fact that you have a variety of other investments that you consider to be sufficiently successful to your needs would be something for you to consider.

Frequently, there is no need to get into too many actual details or specifics in order to provide some ideas about experiential bases that can help to support why you think the way that you do and perhaps whether some of your actual actions match up with your thoughts.

In spite of some of the more drastic changes in some of the forum rules recently, there still are probably a decent number of guys here that appreciate when other guys are giving suggestions or advice or whatever the fuck we call it based on experiences and things that we are doing ourselves rather than something that is hypothetical and we are not at least attempting to practice what we preach.

(06-22-2019 03:00 PM)Dr. Howard Wrote:  You are ultimately correct though I'm not an bitcoin investor nor do I hold any, so what would I know about government regulations relating to cryptocurrency?

Fair enough that you have not invested in bitcoin, yet I believe that part of a process that can make guys more informed in their input and their advice on any topic is to have some experiences in that topic. Of course, having such experience is not necessarily dispositive about whether it is proper for a guy to have opinions, but surely experience and interaction with a topic does seem to facilitate greater abilities to absorb some intricate knowledge and even to incentivize a more active form of attention (which would facilitate ability to learn "more better" (sic).

(06-22-2019 03:00 PM)Dr. Howard Wrote:  Your question, which I ultimately can't answer fully should have been

Aren't you behaving a bit patronizingly when you are trying to inform me regarding the questions that I should ask or perhaps how I should be framing my responses?

First of all there are a lot of ways to achieve our objectives in terms of covering a topic or sharing information about topics, and second, each of us have differing ways of thinking and presenting matter, which is quite discretionary... so long as I am not purposefully engaging in disingenuine or hostile behavior... which I am trying NOT to do. In other words, I am attempting to stay substantive in my interaction with you, but does not mean that I am going to think of every "most appropriate" question at any given time... Perhaps I haven't had my coffee yet.. or something else might be distracting me from thinking about "the proper question or way to ask a question."


(06-22-2019 03:00 PM)Dr. Howard Wrote:  "Doc Howard, what makes you such an expert on government regulation of bitcoin to talk to us about government regulation of bitcoin?"

and my answer can only be, if you ever get audited, you just might find out!

First, I am glad that you were able to answer your own question. Second, I am not sure why you seem to be coming off as a kind of fear mongerer, here. Third, does anyone give any shits about purported "experts?" Again patronizing to suggest that you have some kind of knowledge is not being considered by various guys here. By the way, I do appreciate that you are wanting to provide information here, but your seeming need to either compete to win arguments or lecture is a bit annoying, wouldn't you think?

Anyhow, you do seem to have a decent amount of knowledge gaps in regards to bitcoin, so even if you have some regulatory or other specialized or "expert" insights, it would be nice to see you actually engaging with some of the interesting aspects of bitcoin rather than just spouting out some seemingly mainstream fear mongering bullshit that we can likely find in a lot of other areas... and without presuming that guys here have not already considered some of the regulatory and/or threats to bitcoin from other financial BIG players.
06-22-2019 03:28 PM
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Swordfish1010 Offline
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Post: #8122
RE: The Bitcoin (BTC) thread
https://www.zerohedge.com/news/2019-06-1...utions-now

The dumb retail money left. This is from institutional money, which is a good thing.

[Image: D9rBQSlXUAEikgJ.jpg]
(This post was last modified: 06-22-2019 03:44 PM by Swordfish1010.)
06-22-2019 03:38 PM
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Swordfish1010 Offline
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Post: #8123
RE: The Bitcoin (BTC) thread
(06-21-2019 06:55 PM)[email protected] Wrote:  5 figures. 20k before end of year hopefully

Thinking too small. 20k by end of July is in sight.
06-22-2019 03:43 PM
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Swordfish1010 Offline
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Post: #8124
RE: The Bitcoin (BTC) thread
(04-03-2019 05:43 PM)Swordfish1010 Wrote:  ^^^ Institutional money starting to enter. If you don't believe this, sell now lol.

Just a reminder.
06-22-2019 03:50 PM
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JayJuanGee Offline
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Post: #8125
RE: The Bitcoin (BTC) thread
(06-22-2019 03:43 PM)Swordfish1010 Wrote:  
(06-21-2019 06:55 PM)[email protected] Wrote:  5 figures. 20k before end of year hopefully

Thinking too small. 20k by end of July is in sight.


Sounds like a prediction.....

hahahahahaha


regarding $20k in this shot.. or within the next month or so, Who knows? Who knows?

Seems a bit much too soon to me, but hey, I am not going to complain if it were to happen. The theory would be that whoever is currently buying bitcoins (whether institutions or otherwise), they are attempting to front run the halvening.. but I don't think that they can actually get around the actual material effects of the halvening, which is likely to cause another price run after the halvening...

On the other hand, if we get a decently large price run before the halvening, that would likely lead to a situation in which we could assert that the halvening is "priced in."
06-22-2019 03:51 PM
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