SwoopTheWorld
The Bitcoin Thread (price and other bitcoin related topics) - Printable Version

+- SwoopTheWorld (https://www.swooptheworld.com/forum)
+-- Forum: Forums (https://www.swooptheworld.com/forum/forumdisplay.php?fid=1)
+--- Forum: Lifestyle Forum (https://www.swooptheworld.com/forum/forumdisplay.php?fid=6)
+--- Thread: The Bitcoin Thread (price and other bitcoin related topics) (/showthread.php?tid=813)



RE: The Bitcoin Thread (price and other bitcoin related topics) - Obermarschall - 10-09-2019

Bitcoin has right now A HELL LOT of volume and we are close of breaking the 200 MA! I think 14 000 USD is not far away!


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-09-2019

Here are a couple of nice visuals regarding bitcoin's past price performance, that leaves some meaningful blank projections regarding what might be reasonable to expect in future years.

https://bitcointalk.org/index.php?topic=178336.msg52702987#msg52702987

Note:  From that bitcointalk.org post, I could not determine exactly the source of those two charts/graphs, but the substantive information contained within each  of the charts/graphs seems to be historically accurate, and the information that is projected (post halvening) seems accurate, as well.

[Image: ?u=https%3A%2F%2Fwww.ccn.com%2Fwp-conten...1N_IyRtNFQ]

[Image: ?u=https%3A%2F%2Fi.imgur.com%2Fvwz5fbQ.p...fEaiIkglJQ]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-09-2019

(10-09-2019, 12:00 PM)SpecialEd Wrote: Was reading up on Roger Ver. Interesting guy but weird how he's still pushing BCH so hard. Talk about a shitcoin lol.

Yeah. I doubt that we give too many shits about Roger Ver, and he surely has squandered away a whole hell of a lot of his credibility in the bitcoin space with his bullshit attempts to get his own way regarding nonsensical assertions regarding what bitcoin is supposed to be, which he finds to be embodied in the bcash (BCH) shitcoin that you referenced. Of course, Bcash continues to be a kind of attack vector on bitcoin and a place where some gullible or naive folks might get mislead into buying that crap and thinking that they are purchasing bitcoin (maybe later realizing that they bought snake-oil rather than the real deal). So yeah, bcash and some of the other shitcoins likely continue to have some relevance and affect on bitcoin in terms of community perceptions that are largely based on misinformation and deception. In other words, buyer beware regarding some cruelty potentials of the real world if you get trapped into that bullshit, aka bcash and rogercoin.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-09-2019

(10-09-2019, 05:00 PM)Obermarschall Wrote: Bitcoin has right now A HELL LOT of volume and we are close of breaking the 200 MA! I think 14 000 USD is not far away!

Gosh. Perhaps? Perhaps?

Seems that we have to make it above $10k and even likely resistance between $10k and $14k, too, no?

We have been correcting for quite a while (more than 3 months) from the previous $13,880, so even though you could be correct about the bounce back, it seems a bit more likely that there will be some grinding on the way back above $13,880 - but once we get back above $12,500, then maybe the resistance will become a bit less difficult. Personally, I expect some resistance in the sub $17,250 territory, too... but hey, this is bitcoin, so surprises seem to happen on a fairly regular basis.


RE: The Bitcoin Thread (price and other bitcoin related topics) - Swordfish1010 - 10-09-2019

(10-08-2019, 06:31 PM)JayJuanGee Wrote: Here's about a 35 minute YouTube presentation from Andreas Antonopolis from a few days ago, and he talks about both bitcoin and ethereum as incumbents that are quite difficult to replace.  I am not sure whether I agree with his assessment of ethereum, but his talking points still make a decent amount of sense regarding difficulties (if not impossibilities) in toppling an incumbent.



I still like Andreas but his views on ethereum are wrong. He’s also too far left leaning. Ethereum literally lied about saying they knew it could never scale. Vitalik should go to jail for this elaborate pump and dump, but the powers to be let him get away with it because it leaves more bitcoin available for them. It’s art of war stuff.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-09-2019

(10-09-2019, 10:55 PM)Swordfish1010 Wrote:
(10-08-2019, 06:31 PM)JayJuanGee Wrote: Here's about a 35 minute YouTube presentation from Andreas Antonopolis from a few days ago, and he talks about both bitcoin and ethereum as incumbents that are quite difficult to replace.  I am not sure whether I agree with his assessment of ethereum, but his talking points still make a decent amount of sense regarding difficulties (if not impossibilities) in toppling an incumbent.



I still like Andreas but his views on ethereum are wrong. He’s also too far left leaning. Ethereum literally lied about saying they knew it could never scale. Vitalik should go to jail for this elaborate pump and dump, but the powers to be let him get away with it because it leaves more bitcoin available for them. It’s art of war stuff.

I think that ultimately Andreas means well, but yeah that kind of goes to show that bitcoin is comprised of all types of variations of people, and we are not going to agree all of the time.. 

He (Andreas) does have some pretty screwed up social justice warrior leanings too, yet he is still a fairly popular and stimulating (in terms of some of his ideas and framework) public speaker, who comes up with some pretty decently motivating presentations - even if some of the ideas (including some of his "love"/lust/infatuation for ethereum is a bit out there in terms of trying to applaud it for its presumed "technical innovations" that might not really be an outright scam vehicle, as you, Swordfish, suggest).


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-10-2019

Here's another nice article from today about another banker acknowledging the power of bitcoin.

https://bitcoinist.com/top-banker-admits-fiat-is-worthless-is-bitcoin-the-future-of-money/


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-11-2019

Here's an interesting tweet thread that updates BAKKT's daily BTC monthly futures contract volume, so you can monitor the number of BTC contracts that have been executed on a daily basis.
https://twitter.com/BakktBot

Here is a chart that was tweeted by that account yesterday, which shows that yesterday is the highest BTC monthly futures contract volume on that platform since it went live on September 23.

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

So far today there about 98 BTC monthly futures contracts, so less than half of yesterday's volume.

https://www.theice.com/products/72035464/Bakkt-Bitcoin-USD-Monthly-Futures-Contract/data?marketId=6137541&span=1


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-11-2019

As some guys may have noticed, I have a kind of inclination to post pretty (or maybe visually provocative?) charts.

Here's one that attempts to juxtapose BTC's historical quarterly price performances.  I personally am not much of a seasonality guy when it comes to bitcoin, but there sometimes can seem to be some coincidental correlation patterns.

[Image: 3295dac8a3ac266d305b28431db4023e.png]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-13-2019

Below is a link to an article that just came out today that refers to one of Tim Draper's medium posts from a few days ago.  Ultimately, Draper is a bitcoin bull and bitcoin evangelist, but he also is arguing that bitcoin has built in incentive structures that can make improvements upon democracies and to put bad actors into check.

https://toshitimes.com/bitcoin-will-bring-dictators-and-toll-trolls-down-according-to-tim-draper/


RE: The Bitcoin Thread (price and other bitcoin related topics) - SC87 - 10-14-2019

JJG do you ever use trading bots for BTC?


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-14-2019

(10-14-2019, 12:41 AM)SC87 Wrote: JJG do you ever use trading bots for BTC?

The idea is not bad if you can set it up well, but I do all my trades manually in such a way that I am almost like a bot in the systematic way that I set up my orders.  

Probably I would if I was better at programming, but I would also be relatively hesitant regarding how much algorithms might get away from you in terms of trading small increments that might end up getting manipulated into non-profitability.

By the way, when I first started trading in the mid $200s, I had my orders set for every few dollars, which was just a couple of percentage points, and a lot of times, I was finding trading venues that were free or close to free.  In more recent times, my trading increments are a whole hell of a lot BIGGER, especially considering the price swinging.  

By the way, there are some exchanges that will allow you to set the next trade after your order fills, which is almost like a bot in terms of having one leg set beyond the initial order, but I don't use that feature, because I kind of prefer going over my fills manually in order to reset whatever I need to reset within a reasonable time after they fill.  Furthermore, I kind of have a pretty decent in my mind at all times the approximate territory that the BTC price has to go (either UP or DOWN) when my orders start to get triggered.

Frequently for price swings (reversals) I need close to a 10% change in price, and sometimes more for my orders on the other side to trigger, but if the price moves in the same direction there might still only be a few percentage points between each order if the BTC price keeps moving in that same direction (whether down or up). 

How about you?  Are you using any kind of automation or considering it?  or tweaking whatever you are doing?  I also thought that you had been a bit drawn into the altcoin scene, so how much would that be factoring into what you are thinking - or if you might have some of those tools in altcoins, but then they may or may not be available in bitcoin?  (or maybe the reverse? some tools available in bitcoin that might not be available on some of the alts?)


RE: The Bitcoin Thread (price and other bitcoin related topics) - SC87 - 10-14-2019

It would be nice to have a trustworthy bot that could scrape a could % here and there, or you could get lucky and do it all yourself with one decent swing trade.

I basically only use Binance now but I'd like to be able to set up a trade following a trade because obviously when I'm sleeping or busy I can't enter another a trade and also things can happen so quickly sometimes that I wouldn't have time to react, if I was even aware.

Right now I'm trading alts against BTC with the goal of increasing both holdings. I stopped trading for a while but these last couple days I'm back into it pretty heavy.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-14-2019

(10-14-2019, 02:52 AM)SC87 Wrote: It would be nice to have a trustworthy bot that could scrape a could % here and there, or you could get lucky and do it all yourself with one decent swing trade.

Yeah, there are likely a few ways to do it, in terms of the extent to which your system just trades no matter what without predicting the BTC price or if your system attempts to be predictive with its trades.

Likely I am a bit too paranoid, and I suppose that is a handicap that I have in other areas of my life too, and my paranoia has to do in part with my desire to have a decent amount of control (and thereby) understanding of the system that I am following. I suppose any bot that you would get or perhaps a program (and some people sell those), would have some kind of explanation regarding what conditions under which it is executing trades.

I know that my own system would be quite profitable in a bot, and it is also decently profitable with my employing my system manually. I would make a lot more profits if I were to go back to my old increment levels and to trade way more often; however, the reason that I am not doing that remains because I do not want to be spending way more time setting and resetting orders, but if you understand the way the system works, it is that the more that orders are executing, the more that you are making profits, especially when the price keeps bouncing around within a range. I have chosen to spend my time in other ways.

Of course, I spend a lot of time posting on bitcoin related forums and reading bitcoin related materials, so it is possible that I could just as well be trading BTC at the same time, but I just don't want to. Part of my goal when I started trading BTC was to start out to spend a decent amount of time engaged with trading and thereby learn about how to do it through my activities, and that most of the rationale why I was executing buy/sell orders in small increments in the earlier days of my trading BTC and learning such, but as I learned more and more about such trading and the dynamics of it and how to create buy/sell orders in such a way to minimize my emotional attachments, then I also wanted to increase my trade increments in order to evolve more into a swing trader rather than a day trader and also to begin to consider myself more as living passively off of the income of my bitcoin (and the equity that I had already built and the profits of my bitcoin investment overall) rather than profits that would have been generated from shorter term trades back and forth in the event I had kept my BTC trade increments more tightly wound.


(10-14-2019, 02:52 AM)SC87 Wrote: I basically only use Binance now but I'd like to be able to set up a trade following a trade because obviously when I'm sleeping or busy I can't enter another a trade and also things can happen so quickly sometimes that I wouldn't have time to react, if I was even aware.

I was thinking about the option that is available on Bitstamp that is an extra optional line that a trader can execute at the time that they enter the order, and on the buy side, it has the ability for the trader to fill in a price and says: "Sell if executed price (optional)" On the sell side it says: "Buy if executed price (optional)." I sort of assumed that many exchanged would have such an option, but I did not see such a line on binance, so I am not sure if there is a way to employ such an option on that exchange.


(10-14-2019, 02:52 AM)SC87 Wrote: Right now I'm trading alts against BTC with the goal of increasing both holdings.

Yeah. I suppose sometimes there can be ways to increase your BTC stash by engaging in alts - and I am too chickenshit to make any of those attempts, and I don't want to spend much if any of my time trying to figure out altcoin dynamics, especially when I believe almost every single one of them is a piece of shit compared to bitcoin, even though I recognize that they can still pump and I also recognize that some of them might have some redeeming features that might some day get absorbed into bitcoin.

(10-14-2019, 02:52 AM)SC87 Wrote: I stopped trading for a while but these last couple days I'm back into it pretty heavy.

Yep. Trading can be a time suck, but it can be fun too. And it can even be a bit exhilarating if you can figure out ways to earn some money in various ways, whether you are attempting to stack sats, dollars or some shitcoin token(s).

Let me know if you want me to go over any aspects of my system. Sometimes I cannot remember what I had said at various points in time, but sometimes if you have something that you are attempting to do, and you are kind of torn about how or whether to do it (or want to brainstorm), then I don't mind giving my perspective, even if you might ultimately conclude that you prefer to do whatever you were thinking in a much different way than me and the factors that I am weighing to be most important and relevant.

Actually there are some folks who like to attempt to employ margin, but I consider those methods to be considerable gambles, and for the most part I avoid those kinds of gambling things, and I would prefer to stack sats more slowly and certainly rather than taking unnecessary risks, even though I recognize that there might be times that a guy would be able to really profit from the employment of margin and there are also methods that a guy could employ that causes the use of margin to be more profitable than my non-margin methodology/approach (which I largely consider to be the ongoing employment of longs and closing of longs and reopening longs, rather than actually shorting).


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-14-2019

The below-linked article show that so far, it seems that there is more outwardly argued worrying from quasi-governmental collaborators (such as G7) about stable coins like Libra, rather than worrying about bitcoin.

https://cointelegraph.com/news/report-g7-says-global-stablecoins-pose-threat-to-financial-stability


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-14-2019

This below tweeted chart seems to show a longer trajectory that projects to take bitcoin about 12-15 years to get to a comfortable level in surpassing Gold's market cap.  

Might be a bit conservative?  I am not sure... but then again, it also comes off as bullish as fuck too, because it is difficult to really consider any other asset or investment having that kind of level of upside trajectory in the coming 12-15 years or so.. and even with reasonable considerations that a chart like the below one might be too conservative.


https://twitter.com/BitcoinEcon/status/1183331118910709765


[Image: EGwJX8JWwAAwvcq?format=png&name=small]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-14-2019

Here's another visually inspired tweet that says quite a lot:


https://twitter.com/lor3m_1p5um/status/1183687354659299328?s=21

[/url]blurb3m

@Lor3m_1p5um

[url=https://twitter.com/Lor3m_1p5um]




>>>>>>>>OGs and noobs watching bitcoin<<<<<

[Image: EG1NWhoX0AAeENc?format=jpg&name=medium]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-14-2019

Here's an interesting tweet thread from earlier today regarding more wallet options available on lightning network:

https://twitter.com/ElectrumWallet/status/1183706431473815552

[/url]
>>>>>>>>>Electrum


@ElectrumWallet

[url=https://twitter.com/ElectrumWallet]




The next release of Electrum will support Lightning payments. Our lightning node implementation has been merged into Electrum's master branch.<<<<<<<


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-14-2019

Here is a link to an article from about a week ago that shows ongoing development in bitcoin including expectations that, if all goes well, Schnorr and Taproot will be soft-forked into bitcoin in some time in 2020.

https://bitcoinist.com/schnorr-taproot-soft-fork-promises-big-things-for-bitcoin/

Here's a pretty little timeline that provides some ideas about when these things should happen, again if all goes well.

[Image: Timeline-980x523.png]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-14-2019

It can be quite amazing how powerful bitcoin is, in terms of ability to transfer high value in a short amount of time and with hardly any fees.

The below linked tweet of a $900 million  transaction seems to show that kind of amazing value transfer power within bitcoin.


https://twitter.com/Rhythmtrader/status/118384614344228044 

>>>>>>>107,848 bitcoin were just transfered for a 0.02 bitcoin fee.

That's $900,000,000 transfered for $166.

No government, bank or third party had to verify the transactions, nor could they have stopped them if they wanted to.

The true power of bitcoin.



[Image: 1f525.svg]

<<<<<<<<<