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RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-25-2019

(10-25-2019, 05:30 PM)Swordfish1010 Wrote:
(10-25-2019, 05:24 PM)JayJuanGee Wrote:
(10-25-2019, 05:06 PM)Swordfish1010 Wrote:
(10-25-2019, 04:27 PM)JayJuanGee Wrote:
(10-25-2019, 04:14 PM)Swordfish1010 Wrote: I love bears getting rekt. Imagine how dumb you have to be to short bitcoin with the current global macro space full of ideal shorts.

In a kind of ideal world, I would not mind a bit more of an unsustainable pump into the sub-$10k arena and challenging $10k resistance, perhaps, and surely that would not be sustainable, so maybe we would then get a correction back down to our current mid-$8k levels, but hey whatever, we should attempt to be prepared for anything, especially UP.  

So yeah, in that regard, it is not a bad thing to see some of the failure to take a stake folks getting reckt and also the folks who are betting on down or pushing for down to get reckt, too. 

Yeah, it gets scary as fuck when BTC prices are going down and correcting and there does not seem to be any really good reasons beyond the usual exaggerated bullshit, that is likely even less convincing to longer term BTC HODLers, while at the same time, bitcoin newbies and those without decently strong BTC convictions do have a tendency to give some (probably too much) credence to those negative scenarios and end up doing the opposite of what they should be doing.. either failing to buy, or worse, selling and waiting/hoping for still lower BTC prices... which to many of us seems unrealistic in both an already having had happened 45% BTC price correction and in what seems to be a bull market (yeah, no one believes that we could have close to a 50% BTC price correction in a bull market, but something quite similar has happened in bitcoinlandia's relatively short history on several previous occasions).

Bitcoin makes you anti-fragile. When bears laugh at you when you say buy the dip, they soon forget this when you're right. lol

Lot of "know it all" fucktwats (am I being too nice in my description?) going into hiding...  Tongue

Yeah, really smart to be shorting bitcoin.   Rolleyes

Smile Big Grin Smile

High time preference gambling. We are in this for the long haul. It is a game of accumulation, winner takes all.

When guys get into bitcoin they are going to have differing ideas about what is a reasonable timeline for investing in bitcoin.  

Of course, the dumbasses investing into shitcoins, are likely going to disproportionately have to have (for their own safeguarding) a need to figure out when to get out quickly, which might not work out too well for them, and even moreso in shitcoins.

When I got into bitcoin (in late 2013), my thinking was kind of long term-ish, but I was surely somewhat shakey in my level of confidence, but my then conviction was to attempt to stay in for at least one year (for capital gains purposes), and with a kind of tentative hope that I could last at least 2 years.

I think that these days there should be additional confidence in bitcoin, and probably a decent amount of prudence could suggest that guys would plan to stay in at least 3.5 years to 5 years; however, at the same time, we have seen a kind of 4 year cycle playing out, and in that regard, reasonable readings of prudence could cause guys to reasonably attempt to play what seems to be a 4 year cycle, which would still signify that currently BTC should kind of be in an up cycle.

I don't really suggest guys play such cycle 100%, but I do understand how guys could reasonably come to such conclusion to play what appears to be the 4 year cycle with larger percentages than I would suggest to be prudent, and you seem to be disinclined towards that 100% playing too, but really, Swordfish, you are not suggesting to 100% hold through the 4 year cycles with your eyes on a longer time frame, are you?  I would not really criticize you for that, but there seems to be a decently large psychological suffering that BTC hodlers go through when it is kind of within expectations that the value of their BTC portfolio is going to go down, and then it does go down 60% to 85%, and perhaps those correction cycles will become a bit less severe, but they are still likely going to be a bit trying on the psychology and finances of guys if they do not take any measures to play what seems to be nearly inevitable BTC price volatility.


RE: The Bitcoin Thread (price and other bitcoin related topics) - Swordfish1010 - 10-25-2019

(10-25-2019, 05:52 PM)JayJuanGee Wrote:
(10-25-2019, 05:30 PM)Swordfish1010 Wrote:
(10-25-2019, 05:24 PM)JayJuanGee Wrote:
(10-25-2019, 05:06 PM)Swordfish1010 Wrote:
(10-25-2019, 04:27 PM)JayJuanGee Wrote: In a kind of ideal world, I would not mind a bit more of an unsustainable pump into the sub-$10k arena and challenging $10k resistance, perhaps, and surely that would not be sustainable, so maybe we would then get a correction back down to our current mid-$8k levels, but hey whatever, we should attempt to be prepared for anything, especially UP.  

So yeah, in that regard, it is not a bad thing to see some of the failure to take a stake folks getting reckt and also the folks who are betting on down or pushing for down to get reckt, too. 

Yeah, it gets scary as fuck when BTC prices are going down and correcting and there does not seem to be any really good reasons beyond the usual exaggerated bullshit, that is likely even less convincing to longer term BTC HODLers, while at the same time, bitcoin newbies and those without decently strong BTC convictions do have a tendency to give some (probably too much) credence to those negative scenarios and end up doing the opposite of what they should be doing.. either failing to buy, or worse, selling and waiting/hoping for still lower BTC prices... which to many of us seems unrealistic in both an already having had happened 45% BTC price correction and in what seems to be a bull market (yeah, no one believes that we could have close to a 50% BTC price correction in a bull market, but something quite similar has happened in bitcoinlandia's relatively short history on several previous occasions).

Bitcoin makes you anti-fragile. When bears laugh at you when you say buy the dip, they soon forget this when you're right. lol

Lot of "know it all" fucktwats (am I being too nice in my description?) going into hiding...  Tongue

Yeah, really smart to be shorting bitcoin.   Rolleyes

Smile Big Grin Smile

High time preference gambling. We are in this for the long haul. It is a game of accumulation, winner takes all.

When guys get into bitcoin they are going to have differing ideas about what is a reasonable timeline for investing in bitcoin.  

Of course, the dumbasses investing into shitcoins, are likely going to disproportionately have to have (for their own safeguarding) a need to figure out when to get out quickly, which might not work out too well for them, and even moreso in shitcoins.

When I got into bitcoin (in late 2013), my thinking was kind of long term-ish, but I was surely somewhat shakey in my level of confidence, but my then conviction was to attempt to stay in for at least one year (for capital gains purposes), and with a kind of tentative hope that I could last at least 2 years.

I think that these days there should be additional confidence in bitcoin, and probably a decent amount of prudence could suggest that guys would plan to stay in at least 3.5 years to 5 years; however, at the same time, we have seen a kind of 4 year cycle playing out, and in that regard, reasonable readings of prudence could cause guys to reasonably attempt to play what seems to be a 4 year cycle, which would still signify that currently BTC should kind of be in an up cycle.

I don't really suggest guys play such cycle 100%, but I do understand how guys could reasonably come to such conclusion to play what appears to be the 4 year cycle with larger percentages than I would suggest to be prudent, and you seem to be disinclined towards that 100% playing too, but really, Swordfish, you are not suggesting to 100% hold through the 4 year cycles with your eyes on a longer time frame, are you?  I would not really criticize you for that, but there seems to be a decently large psychological suffering that BTC hodlers go through when it is kind of within expectations that the value of their BTC portfolio is going to go down, and then it does go down 60% to 85%, and perhaps those correction cycles will become a bit less severe, but they are still likely going to be a bit trying on the psychology and finances of guys if they do not take any measures to play what seems to be nearly inevitable BTC price volatility.

Absolutely. Everyone thinks they can sell the next top, which may never occur. I'd rather the fiat equivalent of my btc go down than risking my actual sats that I may never be able to get back. We are in uncharted macro territory so thinking that the past will repeat itself is a risky belief. I don't think people really understand what a house of cards the entire fiat system is built on. To quote Goldstein, "everyone is a scammer." Everyone wants your sats, they just may not know it yet. To me, hyperbitcoinization is an inevitability. These next 10 years are going to look like nothing we have ever seen before in all of human history. We finally have a hard money that can't be centralized that can be used as a solid foundation to rebuild upon. New period of enlightenment.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-25-2019

(10-25-2019, 06:13 PM)Swordfish1010 Wrote:
(10-25-2019, 05:52 PM)JayJuanGee Wrote:
(10-25-2019, 05:30 PM)Swordfish1010 Wrote:
(10-25-2019, 05:24 PM)JayJuanGee Wrote:
(10-25-2019, 05:06 PM)Swordfish1010 Wrote: Bitcoin makes you anti-fragile. When bears laugh at you when you say buy the dip, they soon forget this when you're right. lol

Lot of "know it all" fucktwats (am I being too nice in my description?) going into hiding...  Tongue

Yeah, really smart to be shorting bitcoin.   Rolleyes

Smile Big Grin Smile

High time preference gambling. We are in this for the long haul. It is a game of accumulation, winner takes all.

When guys get into bitcoin they are going to have differing ideas about what is a reasonable timeline for investing in bitcoin.  

Of course, the dumbasses investing into shitcoins, are likely going to disproportionately have to have (for their own safeguarding) a need to figure out when to get out quickly, which might not work out too well for them, and even moreso in shitcoins.

When I got into bitcoin (in late 2013), my thinking was kind of long term-ish, but I was surely somewhat shakey in my level of confidence, but my then conviction was to attempt to stay in for at least one year (for capital gains purposes), and with a kind of tentative hope that I could last at least 2 years.

I think that these days there should be additional confidence in bitcoin, and probably a decent amount of prudence could suggest that guys would plan to stay in at least 3.5 years to 5 years; however, at the same time, we have seen a kind of 4 year cycle playing out, and in that regard, reasonable readings of prudence could cause guys to reasonably attempt to play what seems to be a 4 year cycle, which would still signify that currently BTC should kind of be in an up cycle.

I don't really suggest guys play such cycle 100%, but I do understand how guys could reasonably come to such conclusion to play what appears to be the 4 year cycle with larger percentages than I would suggest to be prudent, and you seem to be disinclined towards that 100% playing too, but really, Swordfish, you are not suggesting to 100% hold through the 4 year cycles with your eyes on a longer time frame, are you?  I would not really criticize you for that, but there seems to be a decently large psychological suffering that BTC hodlers go through when it is kind of within expectations that the value of their BTC portfolio is going to go down, and then it does go down 60% to 85%, and perhaps those correction cycles will become a bit less severe, but they are still likely going to be a bit trying on the psychology and finances of guys if they do not take any measures to play what seems to be nearly inevitable BTC price volatility.

Absolutely. Everyone thinks they can sell the next top, which may never occur. I'd rather the fiat equivalent of my btc go down than risking my actual sats that I may never be able to get back. We are in uncharted macro territory so thinking that the past will repeat itself is a risky belief. I don't think people really understand what a house of cards the entire fiat system is built on. To quote Goldstein, "everyone is a scammer." Everyone wants your sats, they just may not know it yet. To me, hyperbitcoinization is an inevitability. These next 10 years are going to look like nothing we have ever seen before in all of human history. We finally have a hard money that can't be centralized that can be used as a solid foundation to rebuild upon. New period of enlightenment.

Fair enough.

Perhaps our thinking is NOT too far apart on these kinds of points, and hopefully we are not merely engaging in a circle jerk... Hahahahaha

When I got into bitcoin, I had largely subscribed to the Warren Buffet ideas of buy on the way down and sell on the way up; however, bitcoin had not meaningfully gone up during that whole initial late 2013 to mid-2015 period, or at least, I had not felt that I had accumulated enough bitcoin in order to follow through with the second half of the formula... (the sell on the way up portion).

Surely, largely in about late 2014, I had felt that I had largely gotten to my BTC accumulation goal, which was to be at least 10% of my quasi-liquid investable assets, and therefore, I did not really have too many feelings regarding whether my BTC stake had been high enough.  However, since the then BTC price had precipitously dropped from upper $300s to lower $200s with a couple of seemingly spiking dips into the $100s, I had still felt some debilitation in my ability to authorize myself to actually sell any BTC if my average costs per BTC were higher than the then BTC price.  So I felt that I had needed to acquire some BTC below whatever would become my BTC sell price in order to actually authorize myself to sell (or skim) any profits off of the top of my BTC investment.

Accordingly, in about mid 2015, I first establish some tentative outlining and projecting of my self-authorizations to sell BTC on the way up, and on paper, the trajectory of that plan had speculated BTC prices that were quite a bit passed the previous all time high of $1,163 - which a lot of people were speculating to be pie in the sky goals, which likely caused me to project and to authorize myself in fiat levels that were much too high, as if I had been thinking about my BTC in a way that was too much weighted in the value of obtaining more fiat. 

Anywhoooo, a punchline of this story is that as BTC prices went up beyond previous ATH levels, including passing through the $3k to $5k range like butter, I had realized that actually attempting to follow some semblance of my earlier authorization resulted in way higher levels of excess fiat than I really knew what to do with or that I felt comfortable assigning some alternative investment to.  Therefore, I felt necessary to tweak my selling on the way up to such an extent that I was selling way less BTC than I had previously projected.  By the time, BTC prices approached $20k, I had sold about 12% of my BTC and put it into fiat, which was way lower than my previous projections that had brought my selling rate to 30%-40%, but also higher than my current projected levels.  So actually, currently my trajectory does not even contemplate any kind of necessity to go down to BTC allocations that are less than 90% (92% to be accurate), and still generating way more fiat than I had ever imagined to be part of my mere mortal lifestyle.  

Of course, I have free will and an ability to exercise discretion, so of course, I can tweak, again, my projections of either what is a trajectory of a long term largely sustainable model that goes into infinity and to cause that model to be one that eats more into my BTC principle, if I were to chose to take a Larger fiat payout.. for whatever reason that I want, including no reason, including lunacy.   Wink   hahahahaha   Big Grin


RE: The Bitcoin Thread (price and other bitcoin related topics) - Swordfish1010 - 10-26-2019

Self-sovereignty is a beautiful thing. $9250, up over 20% on the day

(10-24-2019, 08:29 AM)SpecialEd Wrote: Bears seem to have their claws on the market.

$7400 yikes
This post aged well.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-26-2019

(10-25-2019, 04:27 PM)JayJuanGee Wrote:
(10-25-2019, 04:14 PM)Swordfish1010 Wrote:
(10-25-2019, 04:10 PM)JayJuanGee Wrote:
(10-25-2019, 04:01 PM)Swordfish1010 Wrote: Rally rally rally

hahahahaha

Yeah.


Nice little short squeeze, and perhaps even something more sustainable.  Nice to see a decent number of cocky bears getting reckt when they had started bragging about their supposed shorts and sub $6k or $3k or lower targets, which yeah those targets may end up happening, but the bitcoin price dynamics scene is a lot less certain than being made out to be.  

Who gets the last laugh is still unclear, but surely buying and accumulating continues to seem to be a good thing, and there seemed to have been a bit of a closing of bargain basement bitcoin prices, and hopefully decent damaging of the bitcoin naysayers, fence sitters, no coiners and alt coin pumpers.  

I cannot see any ability to really rest with too much assurance at the moment in terms of the solidiness of this particular pump, especially when alt coins seem to be pumping similar amounts, and that seems to be unnecessary froth that preferably should be purged a bit more.... but who knows?  who knows?

I love bears getting rekt. Imagine how dumb you have to be to short bitcoin with the current global macro space full of ideal shorts.

In a kind of ideal world, I would not mind a bit more of an unsustainable pump into the sub-$10k arena and challenging $10k resistance, perhaps, and surely that would not be sustainable, so maybe we would then get a correction back down to our current mid-$8k levels, but hey whatever, we should attempt to be prepared for anything, especially UP.  

So yeah, in that regard, it is not a bad thing to see some of the failure to take a stake folks getting reckt and also the folks who are betting on down or pushing for down to get reckt, too. 

Yeah, it gets scary as fuck when BTC prices are going down and correcting and there does not seem to be any really good reasons beyond the usual exaggerated bullshit, that is likely even less convincing to longer term BTC HODLers, while at the same time, bitcoin newbies and those without decently strong BTC convictions do have a tendency to give some (probably too much) credence to those negative scenarios and end up doing the opposite of what they should be doing.. either failing to buy, or worse, selling and waiting/hoping for still lower BTC prices... which to many of us seems unrealistic in both an already having had happened 45% BTC price correction and in what seems to be a bull market (yeah, no one believes that we could have close to a 50% BTC price correction in a bull market, but something quite similar has happened in bitcoinlandia's relatively short history on several previous occasions).

Oh god.

Well that escalated quickly.

It looks like my best case pie in the sky fantasy scenario is playing out less than 9 hours after my earlier post and after the pumpening had begun.

I thought that getting us solidly above $8,666 would provide a large amount of assurances that the $7,293 bottom for this particular correction was likely to be in, but then I thought that a second more ideal situation would be to test resistance at $10k... but having my doubts about whether we would be able to break straight through $10k.

I would be quite surprised if we are able to break above $10k, but I am not going to complain if it happens.  

Do I look like a complainer?

Kind of a rhetorical question because it seems that the main complainers currently are going to be the bears and the shorters and the no coiners and the fence sitters.  I am none of those.

$10k resistance getting challenged as I type, and whoaza!!!!!!  Above $10k.. like a hot knife through butter.


RE: The Bitcoin Thread (price and other bitcoin related topics) - Swordfish1010 - 10-26-2019

(10-26-2019, 01:43 AM)JayJuanGee Wrote:
(10-25-2019, 04:27 PM)JayJuanGee Wrote:
(10-25-2019, 04:14 PM)Swordfish1010 Wrote:
(10-25-2019, 04:10 PM)JayJuanGee Wrote:
(10-25-2019, 04:01 PM)Swordfish1010 Wrote: Rally rally rally

hahahahaha

Yeah.


Nice little short squeeze, and perhaps even something more sustainable.  Nice to see a decent number of cocky bears getting reckt when they had started bragging about their supposed shorts and sub $6k or $3k or lower targets, which yeah those targets may end up happening, but the bitcoin price dynamics scene is a lot less certain than being made out to be.  

Who gets the last laugh is still unclear, but surely buying and accumulating continues to seem to be a good thing, and there seemed to have been a bit of a closing of bargain basement bitcoin prices, and hopefully decent damaging of the bitcoin naysayers, fence sitters, no coiners and alt coin pumpers.  

I cannot see any ability to really rest with too much assurance at the moment in terms of the solidiness of this particular pump, especially when alt coins seem to be pumping similar amounts, and that seems to be unnecessary froth that preferably should be purged a bit more.... but who knows?  who knows?

I love bears getting rekt. Imagine how dumb you have to be to short bitcoin with the current global macro space full of ideal shorts.

In a kind of ideal world, I would not mind a bit more of an unsustainable pump into the sub-$10k arena and challenging $10k resistance, perhaps, and surely that would not be sustainable, so maybe we would then get a correction back down to our current mid-$8k levels, but hey whatever, we should attempt to be prepared for anything, especially UP.  

So yeah, in that regard, it is not a bad thing to see some of the failure to take a stake folks getting reckt and also the folks who are betting on down or pushing for down to get reckt, too. 

Yeah, it gets scary as fuck when BTC prices are going down and correcting and there does not seem to be any really good reasons beyond the usual exaggerated bullshit, that is likely even less convincing to longer term BTC HODLers, while at the same time, bitcoin newbies and those without decently strong BTC convictions do have a tendency to give some (probably too much) credence to those negative scenarios and end up doing the opposite of what they should be doing.. either failing to buy, or worse, selling and waiting/hoping for still lower BTC prices... which to many of us seems unrealistic in both an already having had happened 45% BTC price correction and in what seems to be a bull market (yeah, no one believes that we could have close to a 50% BTC price correction in a bull market, but something quite similar has happened in bitcoinlandia's relatively short history on several previous occasions).

Oh god.

Well that escalated quickly.

It looks like my best case pie in the sky fantasy scenario is playing out less than 9 hours after my earlier post and after the pumpening had begun.

I thought that getting us solidly above $8,666 would provide a large amount of assurances that the $7,293 bottom for this particular correction was likely to be in, but then I thought that a second more ideal situation would be to test resistance at $10k... but having my doubts about whether we would be able to break straight through $10k.

I would be quite surprised if we are able to break above $10k, but I am not going to complain if it happens.  

Do I look like a complainer?

Kind of a rhetorical question because it seems that the main complainers currently are going to be the bears and the shorters and the no coiners and the fence sitters.  I am none of those.

$10k resistance getting challenged as I type, and whoaza!!!!!!  Above $10k.. like a hot knife through butter.

Honey badger don't care. Big Grin


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-26-2019

(10-26-2019, 01:45 AM)Swordfish1010 Wrote:
(10-26-2019, 01:43 AM)JayJuanGee Wrote:
(10-25-2019, 04:27 PM)JayJuanGee Wrote:
(10-25-2019, 04:14 PM)Swordfish1010 Wrote:
(10-25-2019, 04:10 PM)JayJuanGee Wrote: hahahahaha

Yeah.


Nice little short squeeze, and perhaps even something more sustainable.  Nice to see a decent number of cocky bears getting reckt when they had started bragging about their supposed shorts and sub $6k or $3k or lower targets, which yeah those targets may end up happening, but the bitcoin price dynamics scene is a lot less certain than being made out to be.  

Who gets the last laugh is still unclear, but surely buying and accumulating continues to seem to be a good thing, and there seemed to have been a bit of a closing of bargain basement bitcoin prices, and hopefully decent damaging of the bitcoin naysayers, fence sitters, no coiners and alt coin pumpers.  

I cannot see any ability to really rest with too much assurance at the moment in terms of the solidiness of this particular pump, especially when alt coins seem to be pumping similar amounts, and that seems to be unnecessary froth that preferably should be purged a bit more.... but who knows?  who knows?

I love bears getting rekt. Imagine how dumb you have to be to short bitcoin with the current global macro space full of ideal shorts.

In a kind of ideal world, I would not mind a bit more of an unsustainable pump into the sub-$10k arena and challenging $10k resistance, perhaps, and surely that would not be sustainable, so maybe we would then get a correction back down to our current mid-$8k levels, but hey whatever, we should attempt to be prepared for anything, especially UP.  

So yeah, in that regard, it is not a bad thing to see some of the failure to take a stake folks getting reckt and also the folks who are betting on down or pushing for down to get reckt, too. 

Yeah, it gets scary as fuck when BTC prices are going down and correcting and there does not seem to be any really good reasons beyond the usual exaggerated bullshit, that is likely even less convincing to longer term BTC HODLers, while at the same time, bitcoin newbies and those without decently strong BTC convictions do have a tendency to give some (probably too much) credence to those negative scenarios and end up doing the opposite of what they should be doing.. either failing to buy, or worse, selling and waiting/hoping for still lower BTC prices... which to many of us seems unrealistic in both an already having had happened 45% BTC price correction and in what seems to be a bull market (yeah, no one believes that we could have close to a 50% BTC price correction in a bull market, but something quite similar has happened in bitcoinlandia's relatively short history on several previous occasions).

Oh god.

Well that escalated quickly.

It looks like my best case pie in the sky fantasy scenario is playing out less than 9 hours after my earlier post and after the pumpening had begun.

I thought that getting us solidly above $8,666 would provide a large amount of assurances that the $7,293 bottom for this particular correction was likely to be in, but then I thought that a second more ideal situation would be to test resistance at $10k... but having my doubts about whether we would be able to break straight through $10k.

I would be quite surprised if we are able to break above $10k, but I am not going to complain if it happens.  

Do I look like a complainer?

Kind of a rhetorical question because it seems that the main complainers currently are going to be the bears and the shorters and the no coiners and the fence sitters.  I am none of those.

$10k resistance getting challenged as I type, and whoaza!!!!!!  Above $10k.. like a hot knife through butter.

Honey badger don't care. Big Grin

More guys at RVF were bragging about their shorts than here, but we have some no coiners and/or fence sitters here too.  They just did not say anything.  

Very profitable day for HODLers - even though I have a hard time seeing how these kinds of prices could stick (meaning the severity of the upsurge).  We got up to $10,313 (which is getting close to 40% in less than 10 hours)..

O.k. I understand that Honeybadger can become quite the bitch when she gets into punishment mode, so yeah sometimes the subsequent correction that is expected does not come, and you would not want to be on her bad side when she gets into that kind of mood.  (which would mean you would not want to be either shorting or not HODLing some king daddy).


RE: The Bitcoin Thread (price and other bitcoin related topics) - Swordfish1010 - 10-26-2019

(10-26-2019, 01:58 AM)JayJuanGee Wrote:
(10-26-2019, 01:45 AM)Swordfish1010 Wrote:
(10-26-2019, 01:43 AM)JayJuanGee Wrote:
(10-25-2019, 04:27 PM)JayJuanGee Wrote:
(10-25-2019, 04:14 PM)Swordfish1010 Wrote: I love bears getting rekt. Imagine how dumb you have to be to short bitcoin with the current global macro space full of ideal shorts.

In a kind of ideal world, I would not mind a bit more of an unsustainable pump into the sub-$10k arena and challenging $10k resistance, perhaps, and surely that would not be sustainable, so maybe we would then get a correction back down to our current mid-$8k levels, but hey whatever, we should attempt to be prepared for anything, especially UP.  

So yeah, in that regard, it is not a bad thing to see some of the failure to take a stake folks getting reckt and also the folks who are betting on down or pushing for down to get reckt, too. 

Yeah, it gets scary as fuck when BTC prices are going down and correcting and there does not seem to be any really good reasons beyond the usual exaggerated bullshit, that is likely even less convincing to longer term BTC HODLers, while at the same time, bitcoin newbies and those without decently strong BTC convictions do have a tendency to give some (probably too much) credence to those negative scenarios and end up doing the opposite of what they should be doing.. either failing to buy, or worse, selling and waiting/hoping for still lower BTC prices... which to many of us seems unrealistic in both an already having had happened 45% BTC price correction and in what seems to be a bull market (yeah, no one believes that we could have close to a 50% BTC price correction in a bull market, but something quite similar has happened in bitcoinlandia's relatively short history on several previous occasions).

Oh god.

Well that escalated quickly.

It looks like my best case pie in the sky fantasy scenario is playing out less than 9 hours after my earlier post and after the pumpening had begun.

I thought that getting us solidly above $8,666 would provide a large amount of assurances that the $7,293 bottom for this particular correction was likely to be in, but then I thought that a second more ideal situation would be to test resistance at $10k... but having my doubts about whether we would be able to break straight through $10k.

I would be quite surprised if we are able to break above $10k, but I am not going to complain if it happens.  

Do I look like a complainer?

Kind of a rhetorical question because it seems that the main complainers currently are going to be the bears and the shorters and the no coiners and the fence sitters.  I am none of those.

$10k resistance getting challenged as I type, and whoaza!!!!!!  Above $10k.. like a hot knife through butter.

Honey badger don't care. Big Grin

More guys at RVF were bragging about their shorts than here, but we have some no coiners and/or fence sitters here too.  They just did not say anything.  

Very profitable day for HODLers - even though I have a hard time seeing how these kinds of prices could stick (meaning the severity of the upsurge).  We got up to $10,313 (which is getting close to 40% in less than 10 hours)..

O.k. I understand that Honeybadger can become quite the bitch when she gets into punishment mode, so yeah sometimes the subsequent correction that is expected does not come, and you would not want to be on her bad side when she gets into that kind of mood.  (which would mean you would not want to be either shorting or not HODLing some king daddy).

For sure, but with this volatility both ways now I am excited to go to sleep just to see what it is when I wake up. Exciting times. We are breaking ATH by the end of the year easily. Book it.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-26-2019

(10-26-2019, 02:26 AM)Swordfish1010 Wrote: For sure, but with this volatility both ways now I am excited to go to sleep just to see what it is when I wake up. Exciting times. We are breaking ATH by the end of the year easily. Book it.

I am too fraidy cat to count my chickens before they hatch. Surely this little bump is reassuring and seems to open up possibilities, just like our 3.5x price rise from $4,200 to $13,880 opened up possibilities.

There are some guys who tried to suggest that the rise to $13,880 was a negative because BTC failed to break resistance, which is surely a bunch of bullshit in terms of hoping for downside, which is NOT as likely as they were making such downside out to be.

Surely, exciting times, and definitely more exciting than this time yesterday. Angel Angel Dodgy


RE: The Bitcoin Thread (price and other bitcoin related topics) - Swordfish1010 - 10-26-2019

(10-26-2019, 02:35 AM)JayJuanGee Wrote:
(10-26-2019, 02:26 AM)Swordfish1010 Wrote: For sure, but with this volatility both ways now I am excited to go to sleep just to see what it is when I wake up. Exciting times. We are breaking ATH by the end of the year easily. Book it.

I am too fraidy cat to count my chickens before they hatch.  Surely this little bump is reassuring and seems to open up possibilities, just like our 3.5x price rise from $4,200 to $13,880 opened up possibilities.

There are some guys who tried to suggest that the rise to $13,880 was a negative because BTC failed to break resistance, which is surely a bunch of bullshit in terms of hoping for downside, which is NOT as likely as they were making such downside out to be.

Surely, exciting times, and definitely more exciting than this time yesterday.   Angel  Angel  Dodgy

I think the futures market being physically settled was the reason for the crash. They suppressed the price as long as they could. These boomers felt the pain big time today and are starting to question why they are so bearish. Bitcoin baptized them in blood today. I LOVE IT.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-26-2019

(10-26-2019, 02:41 AM)Swordfish1010 Wrote:
(10-26-2019, 02:35 AM)JayJuanGee Wrote:
(10-26-2019, 02:26 AM)Swordfish1010 Wrote: For sure, but with this volatility both ways now I am excited to go to sleep just to see what it is when I wake up. Exciting times. We are breaking ATH by the end of the year easily. Book it.

I am too fraidy cat to count my chickens before they hatch.  Surely this little bump is reassuring and seems to open up possibilities, just like our 3.5x price rise from $4,200 to $13,880 opened up possibilities.

There are some guys who tried to suggest that the rise to $13,880 was a negative because BTC failed to break resistance, which is surely a bunch of bullshit in terms of hoping for downside, which is NOT as likely as they were making such downside out to be.

Surely, exciting times, and definitely more exciting than this time yesterday.   Angel  Angel  Dodgy

I think the futures market being physically settled was the reason for the crash. They suppressed the price as long as they could. These boomers felt the pain big time today and are starting to question why they are so bearish. Bitcoin baptized them in blood today. I LOVE IT.

Are you talking about BAKKT?  The number of contracts doubled today (currently 1,156 contracts), and you think that those contracts are largely losing too because they are too low?  Or maybe the contracts from one month ago settled today, but they were too low?  I understand that settling in bitcoin means that they have to have the bitcoins at the end of the day (or whatever time that they settle).


RE: The Bitcoin Thread (price and other bitcoin related topics) - Swordfish1010 - 10-26-2019

(10-26-2019, 03:04 AM)JayJuanGee Wrote:
(10-26-2019, 02:41 AM)Swordfish1010 Wrote:
(10-26-2019, 02:35 AM)JayJuanGee Wrote:
(10-26-2019, 02:26 AM)Swordfish1010 Wrote: For sure, but with this volatility both ways now I am excited to go to sleep just to see what it is when I wake up. Exciting times. We are breaking ATH by the end of the year easily. Book it.

I am too fraidy cat to count my chickens before they hatch.  Surely this little bump is reassuring and seems to open up possibilities, just like our 3.5x price rise from $4,200 to $13,880 opened up possibilities.

There are some guys who tried to suggest that the rise to $13,880 was a negative because BTC failed to break resistance, which is surely a bunch of bullshit in terms of hoping for downside, which is NOT as likely as they were making such downside out to be.

Surely, exciting times, and definitely more exciting than this time yesterday.   Angel  Angel  Dodgy

I think the futures market being physically settled was the reason for the crash. They suppressed the price as long as they could. These boomers felt the pain big time today and are starting to question why they are so bearish. Bitcoin baptized them in blood today. I LOVE IT.

Are you talking about BAKKT?  The number of contracts doubled today (currently 1,156 contracts), and you think that those contracts are largely losing too because they are too low?  Or maybe the contracts from one month ago settled today, but they were too low?  I understand that settling in bitcoin means that they have to have the bitcoins at the end of the day (or whatever time that they settle).

Yeah bakkt. CME futures are less relevant because they don't really effect the supply, it's just paper losses/gains.


RE: The Bitcoin Thread (price and other bitcoin related topics) - Swordfish1010 - 10-26-2019

someone from the bitdevs meetup in nyc asked a chain analysis ceo if they had any products/capabilities to do attribution on lightning, he said no and that he doesn't think it is even possible. lightning is the real deal.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-26-2019

Here's a tweet of a chart showing that today's 42% gain in BTC price is the third largest in BTC's history.

Whoaza!!!

https://twitter.com/yassineARK/status/1187916570766561280

[Image: EHxT0f8WsAAfZFc?format=jpg&name=small]


RE: The Bitcoin Thread (price and other bitcoin related topics) - ChicagoFire - 10-26-2019

^^
beat me JJG Tongue

https://www.zerohedge.com/crypto/bitcoin-tags-105k-4th-largest-gain-history


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-26-2019

(10-26-2019, 12:30 PM)ChicagoFire Wrote: ^^
beat me JJG Tongue

https://www.zerohedge.com/crypto/bitcoin-tags-105k-4th-largest-gain-history

A little redundancy is fine, especially if you are citing a different source.  

It was an amazing day yesterday, which seems to show the power of bitcoin's still being in a kind of immature phase that is still capable of such explosive levels of irrational exuberance.. and all guys investing into bitcoin need to attempt to be prepared for those kinds of upsides and downsides that might come from that too... both psychologically and financially.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-28-2019

Here's a nice little tweet that gives us a status update, and also suggest that our 42% price bounce in the last couple days may well be a sign that the bottom is in for this particular correction - which would be $7,293 (as it currently stands).

https://twitter.com/rektcapital/status/1188199578413289472


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-28-2019

Here's a tweeted image and explanation of a retrace pattern that seems to fall within the beginning of a bull market.

Could be theory, yet we don't really know for sure until we look back on what appears to be happening.

https://twitter.com/rektcapital/status/1188038415436189699?s=20

[Image: EHzCo_PWsAAe4r1?format=jpg&name=small]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-28-2019

Variations of this meme have circulated several times over the past few years, but it is worth repeating.

[Image: RIsfv5R.png]

Edit:  Here's the link from where I got it:  https://amp.reddit.com/r/Bitcoin/comments/do5w3v/china_unban_bitcoin/?__twitter_impression=true


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 10-28-2019

This article shows the retarded lengths that vested financial institutions (which likely includes countries in some cases) will go to spread misinformation.  Here, we see it in their recent rankings of crypto currencies.

https://cointelegraph.com/news/eos-holds-top-spot-bitcoin-11th-in-chinas-latest-crypto-rankings

I am a little embarrassed to post this actual disinformation image, but sometimes even disinformation is necessary to show in its raw form.

[Image: 3992203fa3e10af67afae76be192cb90.jpg]

You are going to say OMG regarding the level of shittiness of their top coins, and if you invest in crypto currencies in accordance with these kinds of rankings or this kind of propaganda bullshit you deserve to either lose your money or perhaps a better scenario is just that you underperform relative to if you had mostly focused on bitcoin... Maybe 95% bitcoin and 5% others would be o.k. or if you are being more dumb (risk-taking) in your approach, then up to 15% or 20% into others and 80% to 85% in bitcoin.  And, if you are quasi-retarded or a compulsive gambler, then more than 20% into other cryptos (rather than bitcoin) would in your wheel house.

By the way, I am not suggesting that anyone invest 100% in crypto, and when I refer bitcoin allocations as compared to allocations in other cryptos, I am only referring to that aspect of your portfolio.  The portion of your portfolio that you had allocated towards bitcoin (or crypto).  So, for example, when I first got into bitcoin, my goal was to acquire about a 10% position in bitcoin as compared to my other traditional investments.  Of course, since late 2015, the performance rate of my BTC investments have vastly outperformed my traditional investments, and therefore my bitcoin allocation has become much larger in proportion to my traditional investments - and since that disproportionate allocation towards bitcoin came from BTC price appreciation, and my traditional portion of my investments is not really hurting or needing any injection of capital, I have chosen to allow that outperformance to ride rather than to reallocate my BTC portion back into traditional investments.


The below-linked related article seems to kind of go with the above one, and I am not sure if our chains are being pulled with these multi-articles bashing upon china.

It is crazy that this article is emphasizing that china is now saying that it is banned (maybe not the right word?) to say that blockchains are scams.

https://beincrypto.com/china-calling-blockchain-a-scam-is-now-banned/

I am starting to think that there might be some attempts at gratuitous china bashing especially with this lack of nuance use of the word "ban"... even though it is a bit hilarious, because bitcoin gives two shits about banning, at least in terms of wackamole potentiality that seems to be our current state of affairs.


Third article related to china's attention to bitcoin and blockchain:

Maybe this below linked article provides some decent context for why china seems to be giving so much attention to bitcoin and blockchain, recently?  If you look at Samson Mow's tweet within the article, he seems to be quite surprised how china is giving so much positive spin to bitcoin, even during a then bitcoin pumpening.... I am not sure if there is any real claim that china is causing or exacerbating the pumpening, but surely there frequently can be those kinds of attempts at simplified explanations.

https://www.newsbtc.com/2019/10/28/chinese-bank-invests-bitcoin-wallet-president-xis-remarks/