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RE: The Bitcoin Thread (price and other bitcoin related topics) - SpecialEd - 09-20-2019

JJG, do you actually use crypto CURRENCY? Or are you just a speculator?

I wonder what happens when BTC replaces the USD as the world reserve currency and talk of these fluctuations relative to fiat become meaningless. Think this thread would die lol.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 09-20-2019

(09-20-2019, 01:51 PM)SpecialEd Wrote: JJG, do you actually use crypto CURRENCY? Or are you just a speculator?

Buying and holding BTC is using it, and why does it matter what the fuck I do with my bitcoin on a personal level?

Have I NOT mentioned about a thousand times (not just in this thread) what the fuck I do in terms of investing and accumulation strategies regarding BTC? Including I mentioned in OP that I have been in BTC since late 2013, and pretty much have stayed involved in BTC ever since... including posting about it regularly.

You must have been out reading some various attack on bitcoin talking point threads because many of them like to get caught up in their largely irrelevant discussions about making comparisons about "using BTC" as compared with how other cryptos might be hypothetically used.

(09-20-2019, 01:51 PM)SpecialEd Wrote: I wonder what happens when BTC replaces the USD as the world reserve currency and talk of these fluctuations relative to fiat become meaningless. Think this thread would die lol.

There seems to be little to no need to speculate about pie in the sky fantasies that are not even close to coming to fruition, so in that regard, it seems that issues of this thread have a long ass fucking way before they become non-issues and/or obsolete, as you suggest.

I have difficulties understanding what it is that you are doing if you are spending your time speculating about pie in the sky scenarios when in fact you have opportunities for a large variety of meaningful and relevant discussions regarding various bitcoin happenings right in front of you on a daily basis... but you seem to want to continue to be distracted by mostly nonsense and irrelevance. Say it isn't so.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 09-20-2019

Below is a link to another article discussing plans of  CME group regarding another product that they are intending to launch in the near-term future (projected for early 2020).... still quite speculative though because according to the article, the CME Group product is still under "regulatory review."


https://www.coindesk.com/cme-group-is-launching-bitcoin-options-early-in-2020


RE: The Bitcoin Thread (price and other bitcoin related topics) - billydingdong - 09-20-2019

(09-20-2019, 02:17 PM)JayJuanGee Wrote: Buying and holding BTC is using it, and why does it matter what the fuck I do with my bitcoin on a personal level?

Have I NOT mentioned about a thousand times (not just in this thread) what the fuck I do in terms of investing and accumulation strategies regarding BTC?  Including
I mentioned in OP that I have been in BTC since late 2013, and pretty much have stayed involved in BTC ever since... including posting about it regularly.

You must have been out reading some various attack on bitcoin talking point threads because many of them like to get caught up in their largely irrelevant discussions about making comparisons about "using BTC" as compared with how other cryptos might be hypothetically used.

https://www.youtube.com/watch?v=yY86vH7z9qA

lol... filed under 'How to trigger a Bitcoin cultist'.

Just ask them if they actually use it as currency.

Edit: Looks like this nasally Asian guy bought a lambo with Bitcoin back in '17.






RE: The Bitcoin Thread (price and other bitcoin related topics) - SpecialEd - 09-21-2019

Easy JJG. Its not healthy for a man your age to get so riled up.

One doesnt typically buy currency. They exchange it and convert it. Sell items for it. Get paid in it. Etc.

These usages are all important considerations for the longevity of btc.

It's just interesting to me how youre able to write volumes of btc while not actually using it in any way ressembling a currency.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 09-21-2019

(09-20-2019, 11:15 PM)billydingdong Wrote:
(09-20-2019, 02:17 PM)JayJuanGee Wrote: Buying and holding BTC is using it, and why does it matter what the fuck I do with my bitcoin on a personal level?

Have I NOT mentioned about a thousand times (not just in this thread) what the fuck I do in terms of investing and accumulation strategies regarding BTC?  Including
I mentioned in OP that I have been in BTC since late 2013, and pretty much have stayed involved in BTC ever since... including posting about it regularly.

You must have been out reading some various attack on bitcoin talking point threads because many of them like to get caught up in their largely irrelevant discussions about making comparisons about "using BTC" as compared with how other cryptos might be hypothetically used.

https://www.youtube.com/watch?v=yY86vH7z9qA

lol... filed under 'How to trigger a Bitcoin cultist'.

You can file it away in any way that you like, and you are likely not shy towards the employment of bitcoin naysaying talking points in order to attempt to pump your various shit bags, which surely has been a pattern amongst several shitcoiners, and some of them actually believe in their shitcoin in terms of various nonsensical talking points, such as short term spending.  Of course the more popular shitcoins that talk in that direction would be ethereum, bcash and bcash SV.  You can look over the price performance of those shitcoins over the last 2-3 years, as compared with bitcoin, and you will see that they have plummeted in value, respectively, and this plummeting of value is quite likely to continue, in spite of some short term pumpenings that have been happening with several shitcoins over the past week or so.   Yes, I understand that bcash SV has only been in existence for about 10 months, so it does not quite have a 2 year track record, but since it was a November 15, 2018 forkening of bcash, it theoretically could share some of the history of bcash - and maybe the forkening did cause a split in that chain in such a way that you could add the two together - but even with that those two chains are still plummeting against bitcoin, even if their value is combined.

(09-20-2019, 11:15 PM)billydingdong Wrote: Just ask them if they actually use it as currency.

These kinds of attempts at simplifying the concept of bitcoin as a simple asset of a "currency" has been going on for at least as long as I have been in bitcoin, and I have been calling nonsense on such assertions for almost all of that time.  Such classification shows quite a bit of a lack of understanding in terms of what bitcoin actually has to offer in terms of it's paradigm changing aspects.

I recognize that you, billydingdong, do seem to have some kind of grasp regarding what bitcoin has to offer in terms of its paradigm shifting aspects, but for some reason, you continue to fail/refuse to buy into it and seem to have some kind of incorrect hopium that ethereum is going to deliver value in a similar kind of fundamental way.  You could actually get lucky in the short term, but in my thinking you are gambling quite a bit, and there are decent chances that your ethereum investment is going to get r3ckt, at least in comparison to bitcoin - or in the bitcoin / ethereum pair.

For your sake, if ethereum can at least kind of keep up with bitcoin, then it might at least perform positively in terms of its dollar pairing.  Perhaps?  Perhaps?  

But this thread is not really meant for the performance of various shitcoins, unless, of course there is some kinds of attempts to make some connections with bitcoin, and my ongoing tentative theory is that there continues to be a purging of the froth from the altcoin space, which sometimes is going to have some short term affects on bitcoin in terms of dragging bitcoin down or holding bitcoin down.  
Of course, bitcoin has the upcoming halvening coming up in about 8 months, which is going to continue to put upwards prices on bitcoin, too.  There are other increased financialization aspects with bitcoin that is coming up as well, and they’re  may or may not provide continued upwards price pressures on bitcoin, not as important as the halvening and then thereafter a possible lagging effect in which the reduction of the new supply of bitcoin is felt more and more over the 6 months to 18 months following the halvening, which continues to provide additional upwards price pressures on bitcoin.

(09-20-2019, 11:15 PM)billydingdong Wrote: Edit: Looks like this nasally Asian guy bought a lambo with Bitcoin back in '17.
https://www.youtube.com/watch?v=yY86vH7z9qA&feature=youtu.be

Yes.  I watched that 6 minute video.  I have nothing against Peter Saddington's decision to buy a lambo with all or part of his bitcoins.  It is a choice that he must make for himself, and of course, if what he says is actually true, he both forgot about his bitcoin that he had bought in 2011, which goes to show a certain amount of power of holding bitcoin for more than 5 years and thereby having some delayed gratification price appreciation that enabled him to more easily make his purchase with price appreciated bitcoins.  He said that his investment in bitcoin in 2011 that he used for the Lambo purchase was around $115 for all of the bitcoin that he bought.  I just looked up the price of BTC in late 2011, and it looks like he could have paid anywhere between $2 and $5 per bitcoin, so something seems a bit off in terms of the calculations and it seems that he might not have bought the whole lambo with his bitcoin and that he had traded in his Audi, too.  Perhaps?

So,  yeah, if he had been paying attention to his bitcoin and the bitcoin price on a regular basis between late 2011 and late 2017, then he may have ended up spending a lot more of his bitcoin in the interim and would not have had as much of an appreciated BTC stash to be able to splurge on such lambo.

Another thing is that he bought quite early in the 2017 price surge, in the $4k to $5k arena, and sure his cost per BTC was only $2.50 or something like that, but in his seemingly anxious status, he likely missed out on another more than 4x price appreciation in that same time frame.  Of course, if he only spent less than 50% of his stash or some other more modest amount, then he would have enjoyed the additional 4x to 5x additional price appreciation in 2017, which ultimately did come back down to his purchase price, but after a lot of struggle and even a nearly 3x bouncing back above his purchase price in recent times.  

So, in the end, who really cares about what Peter did, exactly.  That is a choice for him to measure how many bitcoins he is going to use at certain price points in order to spend some or all of them.  Over the years, I have seen quite a few posters (mostly guys) bragging about their various purchases with their BTC, and sometimes they are never able to establish as large of a stash of bitcoins again, but again that is up to them regarding how BIG of a BTC stash they believe that they need into the future, and certainly, if they make a sale or a purchase, they may or may not be able to buy back some or all of their BTC at a price that is lower than the price that they sold (or made their purchase).

Actually, my first 10 months or so into bitcoin, I did not really say anything to anyone in the real world about what I was doing.  I started buying at a bit more than $1k per BTC in lat 2013, and the price ended up plummeting to about $400 in late 2014, and about then I started to tell quite a few people about bitcoin and that I had considered it to be a good value.  Not too many people listened to me, but my mom did, and she made some initial purchases of about 10 or more BTC and then as we know the BTC price went down in 2015.  And, I had a girlfriend as well who bought some BTC in 2015, so by the end of BTC my mom had some how acquired around 21 BTC and my GF had acquired around 17BTC.  I am not sure about their actual costs per BTC, but my GF had quite a bit lower costs per BTC.

In late 2015, when the BTC price shot up from about $250 to $500, my GF ended up selling all of her BTC at around $350, and she said that she made more than $1,800 to buy a new purse.. something like that.  Thereafter she was surprised that the price had shot up to $500 and was waiting for below $300 to buy back, which she was not able to do and she bought back a lot of them for more than $400, but she was never able to get to 17 BTC again.    

My mom made some mistakes along the way too, and I think by the time BTC had reached $19k, she had made some sales of her 21 accumulated BTC and she had a bit more than the 17 BTC that my GF had, but she was not able to get back up to 21BTC, but when she saw the end of 2017 was coming and her tax advisor had mentioned that she could sell 3 or 4 BTC because my dad wanted a $35k boat, so she sold those 3-4 BTC at around $14k to buy that boat.  She did not make any more BTC sales in 2018 and she might have even bought 1 BTC or perhaps 2 in 2018, and in early 2019, the BTC price shot up to $13,880, and she sold an additional portion of her BTC at around $11k.  I think that her BTC stash is still around the 15BTC arena, and she sold way more than the amount of her initial investment in terms of dollars, and surely there should be no problem for her to continue to sell every year from here into the future, and I recommended to her to sell 4% per year, but she has been attempting to be a bit strategic about her sales in attempting to time tops, which might work o.k. for her... because she does not really have any need to accumulate BTC in terms of her age and the fact that she had already made a decent profit with it in terms of the value of her BTC as compared with her other investments and all of that.  But, there is also no need to rush into selling the BTC or using it for purchases in any kind of sporadic way.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 09-21-2019

(09-21-2019, 12:26 AM)SpecialEd Wrote: Easy JJG. Its not healthy for a man your age to get so riled up.

Maybe you are happy with yourself? Attempting to achieve your objective, and not really providing much of any value beyond stirring shit, right SpecialEd?

SpecialEd specializes in mere shit stirring, no?


(09-21-2019, 12:26 AM)SpecialEd Wrote: One doesnt typically buy currency. They exchange it and convert it. Sell items for it. Get paid in it. Etc.

Yeah. You have quite the sophisticated view regarding what to do. How long have you been investing in BTC and using it as currency and is your strategy working for you?


(09-21-2019, 12:26 AM)SpecialEd Wrote: These usages are all important considerations for the longevity of btc.

And? Isn't bitcoin doing fine? There is a lot of bitcoin naysayers out there, but look at the performance of bitcoin compared to the bitcoin naysayers (especially the ones that are pumping other coins) and what do you see? Zoom out a few years in order to attempt to recognize how bitcoin is performing in comparison to the prognostications of the bitcoin naysayers over the last few years. What do you see? Incredible ongoing bitcoin growth in terms of all of its network effects and also in terms of its price appreciation. Yeah, perhaps you don't see as much merchant adoption as you would like to see, but who cares? When push comes to shove bitcoin's liquidation avenues are at least holding their own even if they might be increasing less than what others may have preferred, in terms of being able to use bitcoin to buy coffee. There are likely a lot of coffee buying options available to a lot of people, yet bitcoin gives you just one option, and its value continue to rise - even if you want to argue bullshit that it has to have more usage in order to continue to gain in value... which you are quite likely to be wrong, and you can go buy your other bullshit coins if you believe that they are better values because they are pushing the "usage" narrative.

(09-21-2019, 12:26 AM)SpecialEd Wrote: It's just interesting to me how youre able to write volumes of btc while not actually using it in any way ressembling a currency.

It's interesting to me that you claim to understand bitcoin, and you are blabbing on about currency and usage, when that is only part of the current bitcoin situation, yet bitcoin is doing quite well in spite of your complaining about it.

On a personal level, I don't need to adopt your stupid ass suggestion that bitcoin is about currency and usage in order to have plenty to write and share about bitcoin. So maybe you are the one who needs to study a bit more in order to really attempt to understand what is going on in this bitcoin space and what is meaningful in this space without merely coming to this thread and spouting off stupid ass bitcoin naysaying talking points and otherwise not really having anything meaningful or substantive to provide.

By the way, are you still waiting for sub $9k BTC prices? or have you bought back in, yet? or do you have some kind of BTC buying and/or accumulating plan? Don't know too many of your details because you are too busy bitcoin naysaying rather than talking about the more important shorter-term matters which are making sure that guys (even you) have BTC holding and accumulation plans... and the more that guys are able to tailor their BTC buy, hold and accumulate plans to their personal financial circumstances the better.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 09-21-2019

Dollar cost averaging into bitcoin is a decently powerful phenomenon.  

Here's a nice little calculator to plug in some numbers and to see how you would have done with various speculative amounts on various timelines.

For hypothetical, I plugged in $100 per week starting from September 1, 2017 (towards the exponential growth period of the last bubble)

https://calculator.for-bitcoin.com/?amount=100.00&freq=week&month=September&day=01&year=2017


The calculator shows that such hypothetical person would have spent about $10,800 and have about 1.7BTC and would have a value of a bit more than $17k today.  Not bad.   About a 60% return in two years.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 09-23-2019

BAKKT launched within the last 24 hours, and seems to be starting out slow.

Below is a link to a nice overview article - since there are likely questions regarding how BAKKT works and whether it is going to have price effects on the BTC market.

https://fortune.com/2019/09/20/bitcoin-futures-bakkt-launch/


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 09-24-2019

Here's a nice and pretty bitcoin chart showing some bitcoin price history which could cause some abilities to extrapolate future BTC price performance, perhaps?

https://twitter.com/ChartsBtc/status/1176139776128217089?s=20

[Image: EFJ85EpUcAAOma-?format=jpg&name=small]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 09-24-2019

Seems to have been a ruling in favor of bitfinex to stay the lower court's order to turn over documents to NYAG.

https://www.coindesk.com/bitfinex-can-stop-turning-over-documents-to-nyag-appeals-court-rules


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 09-25-2019

This appears to be a tweet of a recent depiction/chart of the one hour 51% attack costs of the top 7 cryptos (top 7 in terms of attack invulnerability).  Of course bitcoin remains quite in the lead.

https://twitter.com/kerooke/status/1176685479548346370?s=20
 

[Image: EFRtNKxXoAAiwRV?format=png&name=small]


RE: The Bitcoin Thread (price and other bitcoin related topics) - SpecialEd - 09-25-2019

(09-21-2019, 03:07 AM)JayJuanGee Wrote:
(09-21-2019, 12:26 AM)SpecialEd Wrote: Easy JJG. Its not healthy for a man your age to get so riled up.

Maybe you are happy with yourself?  Attempting to achieve your objective, and not really providing much of any value beyond stirring shit, right SpecialEd?

SpecialEd specializes in mere shit stirring, no?

One man's shit stirrer is another's philosopher.


(09-21-2019, 12:26 AM)SpecialEd Wrote: One doesnt typically buy currency. They exchange it and convert it. Sell items for it. Get paid in it. Etc.

Yeah.  You have quite the sophisticated view regarding what to do.  How long have you been investing in BTC and using it as currency and is your strategy working for you?


I don't invest in BTC. I earn in it.
(09-21-2019, 12:26 AM)SpecialEd Wrote: These usages are all important considerations for the longevity of btc.

And?   Isn't bitcoin doing fine?  

Yea its doing fine despite one dimensional casual investors like yourself. More and more platforms are embracing it as a means of exchange, ie. currency. 


(09-21-2019, 12:26 AM)SpecialEd Wrote: It's just interesting to me how youre able to write volumes of btc while not actually using it in any way ressembling a currency.

It's interesting to me that you claim to understand bitcoin, and you are blabbing on about currency and usage, when that is only part of the current bitcoin situation, yet bitcoin is doing quite well in spite of your complaining about it.  

I've never complained about BTC. Can't imagine where you got that idea from.

By the way, are you still waiting for sub $9k BTC prices?  or have you bought back in, yet?  or do you have some kind of BTC buying and/or accumulating plan?  Don't know too many of your details because you are too busy bitcoin naysaying rather than talking about the more important shorter-term matters which are making sure that guys (even you) have BTC holding and accumulation plans... and the more that guys are able to tailor their BTC buy, hold and accumulate plans to their personal financial circumstances the better.

As I've stated many times now, I think the notion of "btc investment" is part of an old paradigm of thinking. BTC will be the dominant global currency sooner rather than later. Any investment chatter is merely a short term opportunity to capitalize on the demise of fiat. While these short term profits are fun I don't think it warrants too much consideration. When products/services are denominated in btc, it may change the purchasing value of your holdings significantly (for better or for worse). I'm not worried about these changes because unlike you JJG- my financial situation isnt wholly dependent on BTC.  Wink



RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 09-25-2019

(09-25-2019, 06:15 AM)SpecialEd Wrote: One man's shit stirrer is another's philosopher.

O.k.  maybe we could think of you as a self-purported shit-stirring philosopher, then?


(09-25-2019, 06:15 AM)SpecialEd Wrote: I don't invest in BTC. I earn in it.

You seem to be making a distinction without any kind of meaningful difference.  Anyone investing or earning bitcoin has to thereafter decide how much of the BTC to hold in terms of how much is a comfortable accumulation level, too.  So the essential points would concern where you are at in regards to your accumulation and allocation decisions in regards to bitcoin rather than how you had acquired your bitcoin.

Again, seems to be some kind of complex that you are demonstrating some kind of need to present your means of acquisition as if they were superior. Get real, SpecialEd. No one cares.

(09-25-2019, 06:15 AM)SpecialEd Wrote: Yea its doing fine despite one dimensional casual investors like yourself.

This thread is not closed, and you have taken various opportunities to participate in this thread and to provide some other perspective(s). Frequently, they have been pretty shitty perspectives, but still you are not foreclosed from providing some perspective to attempt to counter-balance my views or perhaps to begin to provide some substantive value that are of your own making and related to the topic of the thread... That's your choice..

Hopefully, at least, you can attempt to stay somewhat on the topic that is outlined in the OP and reasonable interpretations of such.

My goal here has not been to pump bitcoin, but instead to share information about bitcoin in order that I can learn and also other guys can also have a means to brainstorm in a bitcoin-focused thread. If you want to talk about other bullshit shitcoins or your other investments or how smart and wonderful you are and you make no attempt to connect those topics to bitcoin, then there are other threads for that, or you can create your own such thread, no?

I will admit that sometimes, I become a bit hostile to attempts to dilute the bitcoin topic through other talking points, but hey, even sometimes those altcoin pumping and bitcoin naysaying views might be helpful to be parsed through from time to time, since they tend to be so prevalent in mainstream media discussions and in other bitcoin/crypto forums, too. Nonetheless, those kinds of distraction topics also frequently will cause me to become a bit hostile in the event that they seem to be attempts to divert from the overall topic of this thread or to shill some bullshit.

(09-25-2019, 06:15 AM)SpecialEd Wrote: More and more platforms are embracing it as a means of exchange, ie. currency. 

I am glad that you are starting to get it in terms of bitcoin's ongoing expansion.   Currency is ONE component of bitcoin, rather than the ONLY component, as you should realize by now, but for some reason you persistently continue with your trying to shill some kind of nonsense that seems to relate to various altcoin and/or bitcoin naysaying talking points because you have some ideas that the ONLY thing that brings value to bitcoin is immediately spending it? or some other nonsense like that.

Seems that we went over Gresham's law a few times before in this thread, but you seem inclined to continue to ignore or deny Gresham's law and keep bringing up nonsensical and out of context points that attempt to put spending of bitcoin in a much higher place than it deserves to be, that is if you actually understand the Gresham's law principles.. which in sum is that if people have a choice about various currencies to spend, they are going to spend the lower valued currencies first, and you should therefore not be aspiring to be spent first.. which also implies that the highest valued currencies will be the ones that are both hoarded and accumulate more and more value, which the highest value of any currency should be understood to be bitcoin in this case, but of course there are going to be other currencies that are perceived to be relatively more valuable than others, but part of the longer term theory is that the one with the most value will attend to continue to be hoarded and accumulate value.. which is not necessarily the assigning of value but how people perceive the value, and if your currency is hoarded, then that should be a sign that the currency has value over time and perceived to continue to have value over time ..


(09-25-2019, 06:15 AM)SpecialEd Wrote: I've never complained about BTC. Can't imagine where you got that idea from.

I got that from the contents of your posts.

(09-25-2019, 06:15 AM)SpecialEd Wrote: As I've stated many times now, I think the notion of "btc investment" is part of an old paradigm of thinking.

Of course, you have the right to think about bitcoin however the hell you like, whether you think about it as an investment, like I would like to consider the better kind of thinking or if you have some other looney ideas, then that is your choice, too.

(09-25-2019, 06:15 AM)SpecialEd Wrote: BTC will be the dominant global currency sooner rather than later.

Could be.  But in the meantime, bitcoin is a blip on the screen, for the most part, so it is hardly the case that bitcoin is going to be treated as dominant when it remains relatively small.  Bring BTC up another 10x or 100x, then it will get closer in terms of relative competition, and also I would be surprised if currently much more than 1% of the world's population has any kind of meaningful investment into bitcoin.... such as .1% of their savings, .001BTC or more that they own or any other kind of meaningful calculation of their BTC holdings. Even if bitcoin were to achieve 5% of the world population investing into it, it would still be a blip on the screen, it seems to me.

In terms of largest currencies, BTC recently entered into the top 30, but it is still pretty small relative to ones above it.  This below tweet of a chart shows bitcoin around 28 on that chart.

https://twitter.com/DTAPCAP/status/1176054567961812993?s=20

[Image: EFIvZInXYAAGgEE?format=jpg&name=small]

(09-25-2019, 06:15 AM)SpecialEd Wrote: Any investment chatter is merely a short term opportunity to capitalize on the demise of fiat. While these short term profits are fun I don't think it warrants too much consideration.

Yeah. Maybe. Profits are far from guaranteed in bitcoin, just as the demise of fiat is far from certain. Could take 30-50 years to play out.

Nonetheless, more important considerations for bitcoin investors should be looking at the likely effect of the bitcoin halvening that happens in May 2020, and the effects of likely ongoing upwards price pressures on to BTC are likely to be felt the next 18 months after the halvening.

Of course, not even that is guaranteed because one thing about the future is that it is difficult to predict in terms of various human behaviors including the fact that there are some forces out there that want to keep bitcoin down - yet a significant question remains about the extent to which they are going to be successful in terms of both the above-mentioned halvening and also ongoing and seemingly strong incentives in bitcoin that inspire miners to continue to mine and to cause more and more difficulties for bitcoin to be attacked from the mining and/or censorship direction.

(09-25-2019, 06:15 AM)SpecialEd Wrote: When products/services are denominated in btc, it may change the purchasing value of your holdings significantly (for better or for worse). I'm not worried about these changes because unlike you JJG- my financial situation isnt wholly dependent on BTC.  Wink

You are so wonderful, SpecialEd, and if you conclude that my financial situation is wholly dependent on BTC then you are either engaged in selective reading or failing to comprehend my financial situation which is not really that relevant to this thread, anyhow.. except for your attempts to suggest that either I am desperate in regards to my bitcoin holdings or biased in my BTC discussions, which also seems to be your grasping at straws and just ongoing irrelevant attacks and attempts at dick measurements rather than attempts to actually engage in meaningful discussions of the topic of this thread.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 09-25-2019

Here's an article about a bitcoin lightning shopping app, just for you SpecialEd.


https://www.coindesk.com/bitcoin-shopping-app-fold-raises-2-5-million-to-bring-lightning-to-retailers


Makes you excited?  Can spend some bitcoins?    Smile Smile Smile Tongue


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 09-25-2019

This tweeted chart might give some good feelings and perhaps even over-optimism, since the chart seems to predict that based on  a 4 year Compound Annual Growth Rate (CAGR) BTC prices are going to go to about $23k for the halvening and thereafter peak at around $700k and thereafter crash back down to $100k... Not bad... not bad.  Right?  Any doubters?


https://twitter.com/ChartsBtc/status/1176893360688128000

[Image: EFUqRbtVAAM4noa?format=jpg&name=small]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 09-26-2019

Here's a nice perspective tweet that shows BTC's historical price on September 25, which from one year to the next, was only lower in 2015.... .Go figure!!!


https://twitter.com/Rhythmtrader/status/1176870701984342016?s=20

>>>>>>>>>
2010: 6¢
2011: $4
2012 $12
2013: $129
2014: $410
2015: $235
2016: $602
2017: $3,776
2018: $6,430
2019: $8,453<<<<<<<<<<



RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 09-27-2019

Here's a nice article that attempts to show how irresponsible government monetary policies might correlate to bitcoin's price performance in the future.

https://cointelegraph.com/news/btc-and-quantitative-easing-whats-the-correlation-to-crypto


RE: The Bitcoin Thread (price and other bitcoin related topics) - Foothunter - 09-27-2019

Bitcoin is holding for now the 8000 USD area, I think it can go below and reach around 7500 USD but that would be the short term bottom. There is a lot of support in that area.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 09-27-2019

(09-27-2019, 08:53 AM)Obermarschall Wrote: Bitcoin is holding for now the 8000 USD area, I think it can go below and reach around 7500 USD but that would be the short term bottom. There is a lot of support in that area.

Seems way too soon to be able to know with any degree of certainty.  

Surely I rest a lot better when the BTC price moves a bit more than 10% above the then local bottom to feel some comfort that we might be out of the down momentum... I might even need 15% to 20% to really start to feel comfortable. 

There are frequently (very frequently) erratic and outrageous price moves in bitcoin that go way beyond expectations that go in either price direction, including pushes to shake HODLers from their bitcoin.  

When the BTC price hovers close to the range of it's then local bottom, then we should continue to be nervous that the local bottom has decent chances to be tested again in the near term, and worried that the momentum has not yet changed.   Furthermore, we are only a day out from the local bottom of $7,734, so yeah, price movement is a function of both quantity of movement, but also the passage of time.  In the past day or so, we have been bouncing  2-5%, from that particular bottom, so I am thinking that none of us can really be sure if the bottom is in.  

Of course, I am in agreement with you about support being present at various levels below the local bottom, but surely if bearwhales can get ahold of coins they will push the price as low as they can and hold it down for as long as they can, and we cannot be sure when or if they are running out of coins, especially if they are able to play around with dollar based leveraging, and surely we know that there is nearly an infinite supply of dollars that is available to some insider players.  

Surely, I am not suggesting that down manipulation is inevitable, because I do realize that sometimes the bears just run  out of coins and it becomes way the fuck easier for them to just let the price go up than to fight what seems to be a losing battle to keep the price down... ... so we will see... we will see.