Bitcoins - fad or trend?

Discussion of all things crypto and blockchain.
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Wed Oct 30, 2019

shinnosuke wrote:
bankmining wrote:
Bucketeer wrote:Up 12.6% today, might be down 20% tomorrow. Bitcoin is a volatile and abnormal investment.


You mean up 35%+ today? :lol: 10k plus.


Yes, but why? Why did BTC and crypto prices in general rise so much so quickly?


I believe that in almost every year, the largest gains in Bitcoin were made in a 10 day window.

BTW - In my original quote, I meant to say asymmetrical, not abnormal.
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Wed Oct 30, 2019

Censorship resistance will be one of the biggest factors in "new money". Just ask conservative street artist Sabo.... who recently had his Paypal account suspended (with all his money still in it) for 6 months.

https://pjmedia.com/trending/paypal-de-platforms-conservative-street-artist-sabo-holds-his-funds-for-six-months/

As election season nears, expect the censorship, shadow-banning, and social media blocking (to include money transfer services) to get worse and worse.

Store of value is just one great feature of bitcoin. Having no banker tell you that you can't conduct business is a HUGE factor that will become more and more important as time goes on.
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Thu Oct 31, 2019

I read something the other day that was interesting. The author stated the percentage of Bitcoin wallets holding 10 Bitcoin or more that have not traded for over a year is about 96%. That means that the circulating supply (the float) of Bitcoin is 850,000 to 1 million of Bitcoin actually available for trade.

HODL
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Sun Nov 03, 2019

ZH: Bitcoin's Past Accomplishments And Future Challenges.
https://www.zerohedge.com/crypto/bitcoins-past-accomplishments-and-future-challenges
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tdtwedt
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Re: Bitcoins - fad or trend?

Postby tdtwedt » Mon Nov 04, 2019

A single anonymous market manipulator caused bitcoin to top $20,000 two years ago, study shows

A forensic study found that tethers, a digital currency, being traded for bitcoins, revealed a pattern of manipulation during the 2017 cryprocurrency boom.

“Almost the entire price impact can be attributed to this one large player,” finance professors John Griffin and Amin Shams wrote.

“One of the SEC’s top worries is that crypto is subject to manipulation. This study appears to lend credibility to that argument,” Cowen analyst Jaret Seiberg said on Monday.


https://www.cnbc.com/2019/11/04/study-s ... 20000.html
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Mon Nov 04, 2019

CoinDesk: Trial Back on After Craig Wright Breaks Bitcoin Settlement Agreement.
https://www.coindesk.com/trial-back-on-after-craig-wright-breaks-bitcoin-settlement-agreement
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Tue Nov 05, 2019

tdtwedt wrote:A single anonymous market manipulator caused bitcoin to top $20,000 two years ago, study shows

A forensic study found that tethers, a digital currency, being traded for bitcoins, revealed a pattern of manipulation during the 2017 cryprocurrency boom.

“Almost the entire price impact can be attributed to this one large player,” finance professors John Griffin and Amin Shams wrote.

“One of the SEC’s top worries is that crypto is subject to manipulation. This study appears to lend credibility to that argument,” Cowen analyst Jaret Seiberg said on Monday.


https://www.cnbc.com/2019/11/04/study-s ... 20000.html


Imagine if you could print unlimited dollars, or euros, or yen, or literally any other national currency that is backed by absolutely nothing and costs near zero to print. And you took that worthless currency and bought the only major international currency with a Stock to Flow ratio that will be equal to gold by May 2020, and will be 100:1 in 2024.... which still has a market cap of less than $200 Billion. The real question is, why aren't more countries doing it now (or are they?) and who are the smart ones doing it under the radar?

Don't get distracted by the white noise. Stack the sats.
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Thu Nov 07, 2019

Crypto Daily with a solid video here:

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Re: Bitcoins - fad or trend?

Postby tdtwedt » Fri Nov 08, 2019

Bitcoin Battered Below $9k After FBI Calls Crypto "Significant Problem That Will Get Bigger And Bigger"

https://www.zerohedge.com/crypto/fbi-wa ... and-bigger

:pop:
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Fri Nov 08, 2019

The "significant problem" of Bitcoin is one of its advantages. The price action is normal, compared to stocks, commodities, and precious metals.
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Re: Bitcoins - fad or trend?

Postby tdtwedt » Thu Nov 14, 2019

Bitcoin Fixes This: PayPal Cuts Payouts To Over 100,000 Pornhub 'Models'

Bitcoin is being championed as the solution to a new payment crisis affecting the adult entertainment website Pornhub. In a blog post on Nov. 14, Pornhub revealed that payment processor PayPal had abruptly stopped servicing its models.


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https://www.zerohedge.com/crypto/bitcoi ... hub-models

:pop:
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Rik Bitter
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Re: Bitcoins - fad or trend?

Postby Rik Bitter » Thu Nov 14, 2019

^ So many jokes...
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Also any pieces with serial #17 & 18s. Please contact me if you have any of these for sale.


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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Fri Nov 15, 2019

ZH: Tom Lee: Like FAANG Stocks, Bitcoin Will Hit $25K Due To "Network Value".
http://www.zerohedge.com/crypto/tom-lee-faang-stocks-bitcoin-will-hit-25k-due-network-value
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Mon Nov 18, 2019

If the upcoming Bitcoin halving resembles the last two in historical performance, the next all time high after May 2020 will fall between $385,000 - $425,000 per bitcoin.

Here is the math supporting this: https://medium.com/swlh/bitcoin-halving-everything-you-need-to-know-4573dc5b528e

Having just one bitcoin could be life-changing, with a maximum downside risk (as of today) of $8,190, if bitcoin dropped to a dollar. Does any other asset/investment/currency have that potential?
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tdtwedt
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Re: Bitcoins - fad or trend?

Postby tdtwedt » Thu Nov 21, 2019

Bitcoin below 8k

:pop:
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tdtwedt
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Re: Bitcoins - fad or trend?

Postby tdtwedt » Fri Nov 22, 2019

Bitcoin broke below 7K this morning. Now just above 7K.

:pop:
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Fri Nov 22, 2019

Still way up compared to when I recommended it in this topic at $900 in 12/2016. Can't compare that kind of price performance to my silver stack over the same time period. Get back under the bridge.
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Sun Nov 24, 2019

YouTube: BITCOIN BOUNCES BACK!! BULL TRAP or BLAST OFF?! Bakkt EXPLODES!! China FUD.
.
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Rik Bitter
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Re: Bitcoins - fad or trend?

Postby Rik Bitter » Mon Nov 25, 2019

600 point swing in 6 hours. It must be a day ending in Y.
I'm down to the last few pieces to complete my YPS collection:
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Also any pieces with serial #17 & 18s. Please contact me if you have any of these for sale.


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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Tue Nov 26, 2019

Bwahahaha! Point well-taken Rik.

There are 2 types of Bitcoin investors, HODLers and Traders.

HODLer's believe in the technology and utility of Bitcoin. HOLDers consist of 2 different groups, which are (1) Those who bought in early; and (2) Those who bought in late ($8K+).

The first group might check the price every 3-4 days. They are comfortable in their investment. The 2nd group thumb their phone every day, just waiting to get out at a break-even price, so they can sell their investment without a loss. This second group is classified as "overhead supply", are considered to be "weak hands"and until they finally get out, will an investment be "free to run"

Bitcoin is easily manipulated. The "float" = the available of physical market supply, and is estimated to be 800K to 1.4M Bitcoin daily. CoinMarketCap (CMC) uses data from many questionable exchanges, and therefore their data is suspect and usually inaccurate. CMC pieces might be useful for alt-coins, but it is useless for Bitcoin.

In many countries, Bitcoin is sold with a high premium attached. CoinBase, Gemini, and Bakkt provide accurate "real-time" physical delivery prices. CMC is for alt-coins only.

Traders are speculators, willing to buy or sell Bitcoin on a short term basis, usually intraday or maybe a swing trade of a week or 2 during a bull-run", either long or short.or a "short". Both long and short positions must be physically backed by the number of Bitcoins in the transactions. Profits or losses are settled in physical Bitcoin, not cash. CME futures are cash-settled, BAKKT is physical. The end of day BAKKT price is probably going to be the most accurate price indicator.

Your position size can have a significant effect on the market price and action of Bitcoin. The market for Bitcoin is manipulated, but so are the prices of oil, sugar, coffee, and gasoline, among others.

90% of Bitcoin is held by 10% of the outstanding wallets. How many Bitcoin does it take to be a whale?

Are 10 Bitcoins enough to be classified as a whale. Will a 10 Bitcoin limit order move the market? I doubt it, and if it did, the prices would probably revert to equilibrium very quickly.

Many traders use technical analysis, but TA is based primarily on the price actions of stocks, and some commodities. Bitcoin is asymmetrical to those investments, but a few of the the TA indicators still work, such as moving averages, flags, triangles, and pendants. Longer term, I always watch for a cup and handle formation when something has traded sideways for 3 months of more.

In my particular situation, I bought low and hung on. When Bitcoin hit $20K, I was really tempted to sell out, but I was convinced by this time that Bitcoin was not a ponzi scheme, and my purchase price was really low. I used to consider myself a HODLer, even though I was checking the price every 15 minutes. It was only after the last meltdown that I stopped watching the price daily. Same thing with silver.

These are not lottery tickets. I bought these investments to own, and have no intentions to sell.

One last item:

I get a lot of humor from postings like these. tdtwedt is an easy target. Here are of last postings.
tdtwedt wrote:Bitcoin broke below 7K this morning. Now just above 7K.

:pop:

Bitcoin below 8k

:pop:


He has been trying to beat-up Boeing in the Stock Talk forum. His postings here and in Stock Talk are a waste of time, and in 5 years, I have never seen him positive anything positive from him about gold, silver, stocks, or Bitcoin. Sad, but I'll usually give him a shout-out on the political cartoons.

In the battle for investment survival, you need to be a tank, not a Lamborghini.

For you traders: Is it really worth your time, money, and risk to trade? There are a few legendary traders, but most traders go bust or lose money. Stay strong and HODL

Stay strong and HODL.
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