The Bitcoin (BTC) thread

Coja Petrus Uscan

Crow
Orthodox Inquirer
Gold Member
FTX with Paypal....I mean I can't even use paypal anymore, clearly, or get my money out of it not at least for many months.
If someone had put tiny amount of money into crypto and they gained that's fine, but seeing that you can't even touch own small money like $100, and no one to contact, give you explanation and this is legal with no recourse.... makes me wonder about anything electronic at this point.
By the way I'm glad Transferwise works wtih Americans, seems like this is rare (bet most of these banks you listed do not).
I'd be concerned about keeping unrealized gain frankly, given how easy it is to ban someone.
I guess I'm feeling full mistrust of financial institutions. It's great to have gains locked in crypto but I have a feeling they can pull the plug globally any moment.

TransferWise seems a little too good to be true. You are probably familiar with those odd money changers that Russians, Ukranians use in particular. The type of ones that tend to just disappear after a few years. TransferWise has juiced up that model, gone mainstream and legitimate and with very low fees. It's mainly used for remittances and sending money to non-kosher places like Russia. But it has a lot of money behind it, including Virgin Branson. It's also used a lot by offshore companies, which have moved from traditional banks to these electronic money institutions (EMIs). The support is also very good. You get knowledgeable replies within a day; not the dogsbodies of PayPal.

There is another similar one called Payoneer. Though Payoneer is more basic and higher fees.

I have been surprised how low their KYC bars and how little questions they ask.

With Payoneer I have a Caribbean company, with high-risk EE address and five-eyes passport. They didn't ask for any original documents, have not queried any incoming sums or mentioned anything about 100 or so crypto purchases by card. They are also one of the few places that will send debits cards to pretty much any country.

My main lesson from nearly loosing my life savings is have many accounts and keep money all over the place. But I think my main goal is like you, a rural property in EE that I can survive on even if they take everything else from me.
 

aynrus

Pelican
TransferWise seems a little too good to be true. You are probably familiar with those odd money changers that Russians, Ukranians use in particular. The type of ones that tend to just disappear after a few years. TransferWise has juiced up that model, gone mainstream and legitimate and with very low fees. It's mainly used for remittances and sending money to non-kosher places like Russia. But it has a lot of money behind it, including Virgin Branson. It's also used a lot by offshore companies, which have moved from traditional banks to these electronic money institutions (EMIs). The support is also very good. You get knowledgeable replies within a day; not the dogsbodies of PayPal.

There is another similar one called Payoneer. Though Payoneer is more basic and higher fees.

I have been surprised how low their KYC bars and how little questions they ask.

With Payoneer I have a Caribbean company, with high-risk EE address and five-eyes passport. They didn't ask for any original documents, have not queried any incoming sums or mentioned anything about 100 or so crypto purchases by card. They are also one of the few places that will send debits cards to pretty much any country.

My main lesson from nearly loosing my life savings is have many accounts and keep money all over the place. But I think my main goal is like you, a rural property in EE that I can survive on even if they take everything else from me.

My first experience with financial system involved watching entire country lose their life savings overnight, by action of sole bank in the country/government bank, so I get more than just heebie-jeebies at the thought of financial institutions controlling my savings and especially electronic-only stuff with no branch to go to as last resort.

"Dogsbodies" of Paypal? :D Paypal doesn't appear to be reacheable by phone right now, plus researching on reddit looks like that once they decide to block someone there's no recourse.

Payoneer sounds good but looks like they don't work with Americans. At least not with US residents, may be they're ok with US citizens living elsewhere (until Biden fixes this, I mean blocks all US persons). They have other companies affiliated with them, seems like and direct Americans to use these other companies. I'm not sure I'd be comfortable putting any significant money through those.

Regarding rural property in EE - I know of people who lived through thick and thin, full societal collapse, in such rural homes just fine, being able to feed themselves, but having some kind of community around you is highly recommended in this case, in case of increased crime.

By the way, seems like Turkey just banned crypto payments, following Russia, wonder if this is a trend to be expanded. If they do electronic/blockchain official currencies (Russia wants to start in 2023) they'll have to get rid of competitors.
 

Deepdiver

Crow
Gold Member
Bitcoin Charts...

Bitcoin tested 65K on the Upper Shorter yellow Trend Channel last week and that may have been the impetus for a standard $10K+/- retrace to the 50 Day MA (Gold) with a wick .618 of the way to the 100 Day MA (Orange) retracing back to the 50 (As I mentioned in my prior chart... a bounce to the 100 and retrace to the 50).

Currently sitting at the .236 Fib retrace of the $69K Target. Since this was a weekend (Lower Volume) Crazy Asians Market Saki Karaoke Hangovers correction will need to retest the recent ATH of 65 and see if it completes the run to $69K before the major ABC (Larger Degree Wave Two) - or - If we test the Red 200 DMA for a Complete but incredibly fast ABC as stated in the previous BTC charts last week. This BTC chart has a new horizontal 51.3K Yellow line showing strong previous support on multiple open and closing green and red candle bodies that we just wicked to - Not VooDoo just the maths.

1618848542711.png

Weekend BTC True Range 10.5K ATR(20 Day) up to 3,651:
1618848156414.png
 
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Bill Gates ‘betting on total collapse’ of Bitcoin as cryptocurrency plunges in value​

BILL GATES is "betting on the total collapse" of Bitcoin, according to analysts, as the cryptocurrency plunged 15 percent over the weekend.​


I'd bet Billy-Boy and Warren "Rat Poison" Buffet know something...
 

Bill Gates ‘betting on total collapse’ of Bitcoin as cryptocurrency plunges in value​

BILL GATES is "betting on the total collapse" of Bitcoin, according to analysts, as the cryptocurrency plunged 15 percent over the weekend.​


I'd bet Billy-Boy and Warren "Rat Poison" Buffet know something...
These boomers probably bought some in the dip.
 

Deepdiver

Crow
Gold Member
I removed the short term yellow trend line and applied the Larger wave 2 to 3 to 4 three data points pitchfork trend lines to the BTC Chart (5 Tines = Pitchfork) the trend line/channel concept was originally introduced with fractal waves by RN Elliott of Elliott Wave Theory during the late 1920s through the Depression to the WWII era.

All drawn by hand with less than real rime ticker tape data at that time.

Trend Channels illustrate both lines of strong support and resistance AND are predictive with this five trend line (Mid Red Upper and Lower Blue Ranges and 25% Deviation Green Zone - Bitcoin 2-3-4 Pitchfork the ATH Turned at the 65K Level on the upper green 25% Deviation and corrected approx 10K though the Midline (Red) and all the way down to the Lower Bottom Blue Trend Line which is holding as strong Support at 54K based upon the 3 Data Points at Waves 2-3-4.

The 69K Target was reasonable as that is where the Upper Trend Line Intersected - however we completed a periodic 10K Correction at 65K - where to now - The Lower Trend Line now holding 54K is providing very Strong Support and the next Upper Trend Line Channel Major 5K psychological target is at 75.5K on the Upper Blue Trend on 17 May 2021 illustrating the Predictive Potential of the 5 Tine Pitchfork Trend Channel:

1619045609489.png
 
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Coja Petrus Uscan

Crow
Orthodox Inquirer
Gold Member
Screenshot-at-2021-04-22-18-10-09.png
 

berenmsc

Sparrow
Bitcoin CAGR next ten years

Can someone help me with the math here. Bitcoin has had an average CAGR of 200% since its inception in 2009, providing a total return of circa 9m%.

https://cointelegraph.com/news/bitcoin-s-compound-annual-growth-is-an-unheard-of-200-cagr

Therefore if you had invested $100 ten years ago into Bitcoin, today you would have $5.9m. Michael Saylor has stated that he expects this same rate of return to continue for the next decade:

https://dailyhodl.com/2021/01/23/bi...s-stock-indexes-and-more-says-michael-saylor/

'Bitcoin is going to keep growing and its monetary force is going to keep growing and it’s probably going to grow 200% a year until it has demonetized gold, silver, sovereign debt, bond indexes, stock indexes, every source of monetary energy which is just a store of value for someone that doesn’t want to lose their purchasing power and they need a scarce asset.'

Therefore taking today's price of a single bitcoin which is circa $55,000 and we maintain that rate of growth for the next ten years, you would have a total of $3,247,695,000??

Can someone tell me how I'm wrong here because those numbers are beyond astronomical. Even if we halved the return to 100% you would still have $56m at the end of the decade. Is this correct?

I'm not that interested if you 'believe' in Bitcoin or not, I just want to know if I'm calculating that correctly lol.
 
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Coja Petrus Uscan

Crow
Orthodox Inquirer
Gold Member
Can someone tell me how I'm wrong here because those numbers are beyond astronomical. Even if we halved the return to 100% you would still have $56m at the end of the decade. Is this correct?

I'm not that interested if you 'believe' in Bitcoin or not, I just want to know if I'm calculating that correctly lol.

2013 bubble was 90X.
2017 bubble was 22X.
2021 bubble is just about 2X so far.

If you extend to two years:

2012/13 - 180X.
2016/17 - 48X.
2020/21 (so far) - 9X.

Last year I was look at BTC to $140,000 this year. As the market is ahead of my expectations I am now looking at $240,000. People who are not high are calling up to about $450,000. I heard a good case for $330,000 base on averaging predictions based on past bulls.

Averaging my projections to $210,000 that gives 30X.

180X to 48X = 3.75
48X to 30X = 1.6

I do believe Saylor smokes pot with Max Keiser. But thanks for the fluffing.

This:

BTC-2010.png


Gives us about $180,000 this year; and probably north of $400,000 in 2025.

Screenshot-at-2021-04-23-01-09-26.png


BTC hasn't tested that EMA since September 2020. After which it sideways'd for a month and then boomed. Looking at the same here. Push up to $70K-100K in June/July -> sideways.

Fresh cash in high-yield USD pools ATM.
 
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eradicator

Peacock
Gold Member
Btc was back down to 47k last night, above 50k now(at least right now, it’s still moving higher and lower as always)

I’m curious, I only own a small amount of btc, a few thousand, just buy $1000 or so when I see it dip, I’m not trying to buy and sell, but do most of you try to sell the peaks and buy the dips? If you already have a good amount of btc I can totally understand that.

A lot of you towards thinkers bought hundreds or thousands of Bitcoin a decade ago, and can totally make money selling and rebuying for less
 
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