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) - JayJuanGee - 12-05-2019

(12-05-2019, 03:54 PM)JayJuanGee Wrote:
(12-05-2019, 12:51 PM)GlobalMan Wrote: And for the record, I have never once declared myself an expert in anything (except looking good), least of all bitcoin,

Maybe I misread you then?

(12-05-2019, 12:51 PM)GlobalMan Wrote: but Jay isn't quick enough (a pattern) to recognize my statement above is the opposite of claiming some sort of complicated expertise, it was attempting to downplay the necessity of (and mock) the idea that posting permahodl articles and ideas is some form of bitcoin "expertise".

Guys do sometimes try to proclaim that I am trying to act like an expert in the field of bitcoin, but I am just one guy posting a lot about a topic, and hopefully guys can come to their own conclusions about what to read or not and whether to participate or to formulate their own opinions on whatever is the substance of the various posts.

I was on the shitter, and then I started to think about the above-captioned part of my earlier response to you, and I started to conclude that this part of my response deserved a supplement, because I was thinking that your outlining of the issue is kind of summed up in that above caption of yours, and I might not have either caught it or had not given it appropriate attention.

Largely what I gather you to be asserting GlobalMan is something similar to an earlier poster. I believe that the poster was here or maybe it was RVF bitcoin thread, but I cannot recall exactly because sometimes I lose track of the no coiner shill / self-proclaimed prophets.

Anyhow, what you seem to be arguing is that I spend too much time interested in bitcoin and posting about it in this thread and in other bitcoin places, and therefore guys here should be skeptical of someone like me who spends time on the topic, and instead listening to someone like you who proclaims to know less about bitcoin and surely is less invested in bitcoin and presumably less biased than me. Therefore, you presumably have more credibility because you spend less time on bitcoin and you admittedly know less about it.

Get real, GlobalMan. Rolleyes That is not even a solid premise for a troll/shill, nocoiner, bitcoin naysayer, fence sitter argument. Tongue Is it?


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 12-05-2019

Here's a nice little HODLer tweet, just to blog about meaningless info (according to some peeps... .hahahahahaha)..

https://twitter.com/BritBlockchain/status/1202596214736392192

Quote:

>>>>>>[/url]
British Blockchain & Frontier Technologies   
@BritBlockchain


The impact of having 1% of a portfolio in Bitcoin

Therefore, it is of no surprise that investors have shown considerable interest in owning Cryptocurrencies such as Bitcoin

Continue reading at
http://bbfta.org<<<<<<<




[Image: ELB64lCX0AMQyTx?format=jpg&name=small]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 12-05-2019

Here's another blog-like post, providing a nice tweet link that uses data from woo economics to propose that we are in the early stages of an imminent bull market.

https://twitter.com/PositiveCrypto/status/1202627555016220674

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


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 12-06-2019

Can you deny that this one looks nice and provides meaningful long term BTC accumulation-oriented information?  Anyone?    Tongue

https://twitter.com/ChartsBtc/status/1202624383186948096


[Image: ELCUf7lUEAADTx3?format=jpg&name=small]


RE: The Bitcoin Thread (price and other bitcoin related topics) - GlobalMan - 12-07-2019

Jay, to get us on a better path to understanding each other, I will pose a series of 3 to 14+ simple questions about your beliefs that should flesh out where our divergences originate. You, of course, are free to reciprocate- again, simple questions (and answers please), as I have things to do. (I will insist you do not resort to the typical F bombs, condescension, etc. At such point I will terminate the discussion and declare your forfeiture. Keep it under control)

====

Jay, what is bitcoin to you and what is its purpose? (I am not looking for the book definition of what bitcoin is, only your personal view)


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 12-07-2019

Here's a link to news of an interesting new SEC approval of another futures' fund.


https://cointelegraph.com/news/us-sec-approves-btc-futures-fund-to-offer-shares-to-institutional-investors


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 12-07-2019

(12-07-2019, 12:24 AM)GlobalMan Wrote: Jay, to get us on a better path to understanding each other, I will pose a series of 3 to 14+ simple questions about your beliefs that should flesh out where our divergences originate. You, of course, are free to reciprocate- again, simple questions (and answers please), as I have things to do. (I will insist you do not resort to the typical F bombs, condescension, etc. At such point I will terminate the discussion and declare your forfeiture. Keep it under control)

====

Jay, what is bitcoin to you and what is its purpose? (I am not looking for the book definition of what bitcoin is, only your personal view)

This sounds like an interrogation attempt, and I am o.k. to answer your questions as long they are somewhat topical and allow for reciprocation in the sense that you answer the same questions that you are presenting to me, too as well as any other reciprocal questions that I believe are relevant based on your questions to me and my chosen answers..   I might have follow ups for you, as well.   

Regarding my tone, I may or may not decide to use explicitives at my discretion.  Sometimes explicitives are helpful to make one point or another, so if their use upon my discretion discourages your ongoing participation and or your excuse to vacate the conversation, that would be your choice.  Accordingly, such an exit from you would not necessarily signify that you win any conversation, because there is no contest here, even if you want to attempt to make your interaction into a competition by unilaterally imposing rules... hahahahahahaha  

Answer to 1st question:

Surely some of my purposes in regards to this thread is described in OP, and to the extent that there may be a need to supplement the OP, initially, I got into bitcoin as a hedging against the dollar tool, and so my BTC investment strategy has largely been an attempt to reflect those kinds of hedging against the dollar goals.  Also, when I first got into bitcoin, I had been planning on traveling, and I thought that bitcoin could provide a lot of value transportation flexibility.  

My current purpose in bitcoin has not really changed much from my initial purposes, even though I have learned quite a bit more about bitcoin through my years of investing into it... and of course, I have gained a lot of wealth through bitcoin too, so I suppose some of my allocation of my BTC versus other investments thoughts have adjusted through the years because of bitcoin's price performance and some additional hedging strategies that I have created within my BTC investment.. such as selling on the way up and buying on the way down that would help to provide some downside insurance while largely maintaining a HOLD and accumulation strategy in regards to BTC.

Of course, as I already mentioned, I am here sharing information about bitcoin, so I don't expect other guys to necessarily share the same BTC purposes as me, and of course, my purposes with bitcoin might evolve, too with the passage of time or upon further thoughts about how I might consider using my bitcoin investment or reallocating it.  My purposes are not locked but they have been somewhat consistent with a bit of tweaking along the way.

Regarding you.  What is your bitcoin purpose, and what is your reason to purport to want to understand my bitcoin purpose?  Do you believe that my bitcoin purposes need to be more disclosed or explained than they already have been in OP in order to meaningfully share bitcoin related information in this thread?  If so, please explain.

Do you believe that readers of this thread are being mislead because they don't sufficiently understand the purpose of the main bitcoin poster in this thread (namely me?)?  If so, please explain.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 12-07-2019

No one is going to complain about this tweet of a chart from a Deutsche Bank exec, are they?

[Image: ELHYuoiU8AArdhq?format=jpg&name=small]

https://twitter.com/hansthered/status/1202980876176351232


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 12-07-2019

Gotta love some of these charts, no?

Anyone?  I know GlobalMan wants to hate, but no one is excited, besides me (and GM in the opposite direction)?

[Image: ELH2IDWWkAArGdc?format=jpg&name=small]

https://twitter.com/Pladizow/status/1203013202105290753


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 12-07-2019

Here's a 21 minute YouTube video presentation from Andreas Antonopolis in January 2018.

I had just watched it, and I am not sure if I had seen this presentation previously, but it remains an informative presentation regarding ideas of privacy developments and/or goals in bitcoin.

[video=youtube]https://youtu.be/n4F-h4xuXMk[/video]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 12-07-2019

Think about the argument regarding whether the halvening is priced in, or not.

It kind of assumes somewhat of a mature market in that the sentiments of future participants have already been accounted for by current participants, which seems to largely be a presumptive assumption, especially when bitcoin's adoption is so god damned low (probably in the less than 1% of world population arena).  So yeah, the current participants can attempt to front run by anticipating the future feelings of future adopters, but how the fuck are they going to get such sentiment right, when even increased adoption will end up spurring future use cases and development that is largely currently unknown and merely speculated upon in a very abstract way by current BTC participants.

Here is a quickie tweet that refers to the relatively low amount of BTC addresses:

https://twitter.com/alistairmilne/status/1203015693383454721?s=20

[Image: ELG9cFCX0AMLD_C?format=jpg&name=small]

Don't get me wrong.  I have some difficulties drawing too many conclusions from this data because there are some bitcoin addresses that have a hell of a lot of bitcoin in them, and surely some of the large addresses do not reflect single users but instead could reflect the BTC holdings of thousands if not millions of users that could be on an exchange or some other third party custodian that might be holding bitcoins in a relatively small number of bitcoin addresses.   Even bitcoin custodians are likely going to divide up their BTC holdings into various addresses.  Furthermore some bitcoin holders with even small amounts of bitcoin might also have hundreds of bitcoin addresses that have some amount of bitcoin contained therein and managed by their bitcoin wallet(s).**** 

****Just for a quickie explanation bitcoin wallets can differ in a variety of ways in how they manage bitcoin addresses, and some bitcoin wallets may have seamless ways of making and sorting through a large number of BTC addresses (and some wallets also might have capabilities of holding other coins, besides bitcoin), but the bitcoin user might not even be aware of some of the underlying bitcoin address dynamics of the bitcoin wallet(s) that they use.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 12-09-2019

Here's about a 45 minute YouTube interview of Tim Draper from yesterday.

https://m.youtube.com/watch?v=H6Xz4luFb2c

Overall, Draper comes off as a true BTC believer, and of course, with his purchase of the 30k coins SilkRoad coins in 2014 for about $640 per coin, he is still in 10x floating profits to the extent that he still holds those coins.

I do believe that within the interview Draper could have addressed the spiraling mining valuation a bit better, and it was asked in terms of a recent tweet that said that transaction fees would have to go up drastically in the event that hash power stayed the same and coin reward was cut in half.  

Of course, Draper mentioned that mining would be up and down and up and down in the coming years, but overall mining would continue to be profitable, but I think that Draper missed out talking about the difficulty adjustment mechanism that seems to cause decent self-correcting mechanisms in bitcoin which may have addressed many of the questions regarding the stability of mining or even the fact that fees are going to have to go shooting way the fuck up in order to incentivize miners.  

Neither the question or answer about fees and mining costs was clear, yet I am suggesting that Draper could have touched upon the built-in difficulty adjustments that continue to incentivize miners and will even cause lower hash power miners to come into mining bitcoin in case a bunch of miners were to shut off their mining machines because of a drop in the mining reward (halvening in May causing the reward to go from 12.5 bitcoins per 10 minute block to 6.25 bitcoins per block).


RE: The Bitcoin Thread (price and other bitcoin related topics) - Foothunter - 12-09-2019

Tim Draper is too optimistic. The thing is we are still in a descending channel. Sure we had some moves upwards, but we are hitting major resistance. Side-ways it will go now at best (short-term) or we will make again a lower-low and hopefully bounce back.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 12-09-2019

(12-09-2019, 11:27 AM)Obermarschall Wrote: Tim Draper is too optimistic. The thing is we are still in a descending channel. Sure we had some moves upwards, but we are hitting major resistance. Side-ways it will go now at best (short-term) or we will make again a lower-low and hopefully bounce back.

I am not really into sorcery anyhow, so I take any price prediction with a decently large grain of salt, and really he seems to be excited about what bitcoin is bringing to the space, which of course translates into price too.

Could be that he is too optimistic, but he is really not into short-term price predictions, which I would categorize myself in a similar way as him in terms of both reluctant about short term price predictions but bullish on the long term.  He does tend to be more bullish than me, and sure he is proclaiming to have been correct about his earlier seemingly overbullish predictions, which seems to be a correct assessment of what happened, so far, when we look at what happened, including after he bought those 30k BTC - even though he was likely in the red on those for about 2 years before they kind of blew up in the upwards direction... similar to me in that regard, too, and anyone else who has been investing in and accumulating bitcoin since 2014 or so.

At the end of the interview, Draper was asked about his BTC price prediction for the end of the year, and he said around $8,500, but that he is more certain about his longer term BTC price prediction rather than his short term prediction, and his longer term prediction was that BTC prices would reach $250k by the end of 2022 or the beginning of 2023.  Surely, again, he is more optimistic than me, even though I understand the possibility is there in exactly the way that he describes it, but I take those kinds of bullishness assertions with a decent grain of salt, and sure it would be nice to happen, but my being rich in BTC is already happening and likely to continue even with a lot lower BTC prices, even by 2022/2023.

I am similar in regards to short term BTC price predictions, and I would not rule out up, even though you might be correct that down is the most likely and sideways is the second most likely, but if you don't have any coins and you are thinking about investing, what do you do?  Wait to buy?  What if you have some bitcoins, but you are nervous?  Do you hold or do you sell and wait to buy back lower?

Maybe ultimately I agree with much of what you are asserting, and since price is currently floating around $7,300 to $7,600, I am not going to get too excited regarding short-term price unless there is a break below $6,700 or a break above $8.2k.  Furthermore, I continue to sense overexuberance in the alt coin space, so even though i sense that there could be somewhat of an altcoin season, there likely remains a lot of froth that can be purged from that space, and if it is purged, it might cause some continued downward pressures on BTC.  

Nonetheless, those kinds of short term uncertainties about price and even concerns about various froth in the space don't really say much at all about ongoing and decently strong BTC fundamentals, that can cause sporadic upbursts in price from time to time.  Will we see such sporadic upbursts in BTC price in the near future, could be, and I would hate to be a fence sitter during such possible happenings, but hey each of us have to make our own choices regarding what actions might be prudent. What about you Obermarschall?  Do you have a strategy that involves current BTC accumulation or are you waiting?


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 12-10-2019

Behind the scenes there is always a certain level of vigilance that is needed in regards to BIGGER players such as Microsoft trying to manipulate open source contributions, including something like bitcoin, as described in this medium article from early November (a month ago) and also as discussed today on Bitcointalk Wall Observer, including Mindrust's mention of alternatives such as "GitLab, SourceForge, Bitbucket."


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 12-10-2019

Here's an interesting website called "bitcoinuptime.com" that ticker-counts the total uptime of bitcoin in terms of percentage of uptime, and it appears that bitcoin has only been "down" on two occasions that add up to a bit less than 15 hours in-total, which is elaborated further in each of two linked websites.

Downtime events
CVE-2010-5139: 8 hours and 27 minutes
CVE-2013-3220: 6 hours and 20 minutes


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 12-10-2019

I was debating whether I should post the link to the below youtube video, which points out a lot of weird and insider-like connections (lots of conspiracy-mongering) in the bitcoin-space that have roots in financial and governmental BIG WIG circles.

https://www.youtube.com/watch?v=3dW549Ohkxo
 

Within the accusations, the level of purported "insiderness" that goes to the core of bitcoin itself seems to be a bit  too much in terms of seeming to attempt to show bad motives of core developers and the blockstream ties, yet I am surely not opposed to attempts to reveal the various kinds of connections that might be going on behind the scenes of bitcoin and the financial space around crypto currencies and also the need for any scrutiny of actual bitcoin software code that might get introduced as a result of purported efforts to attempt to have verifiability in terms of bitcoin supply or other ways that bitcoin might be attempted to be screwed with or undermined.  

I actually am not surprised that BIG players are attempting to engage in whatever levels of manipulation that they can get away with including both supply manipulation attempts and possibly price manipulation attempts, that may or may not end up biting them in the ass if the bitcoin market turns against them to the extent that they might not control the bitcoin market as much as some of the BIG WIGS (CEO of CBOE, CME) are attempting to proclaim.

  Time will tell, I suppose, in regards to the extent that BIGGER financial players and/or governments are going to be successful in terms of both manipulation of Bitcoin's price value proposition and also whether BIG players are also able to take away from how bitcoin still does seem to provide empowerment avenues to regular people who want to buy, accumulate and hold it and to use it in various kinds of value control and transfer kinds of ways (of course, with any value storage and transfer mechanism HODLers are going to want to asset to sufficiently hold its value during the period of HODLing it, whether used for short-term transactions or longer term storage/insurance/hedging).


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 12-11-2019

(12-11-2019, 04:46 PM)Docardio Wrote:
(11-14-2019, 09:42 PM)JayJuanGee Wrote: I remain a bit unclear regarding what point you are trying to make.  Are you trying to pump that website, here?

Or are you trying to make some kind of claim about bitcoin?   

As you likely realize gambling is different from investing, yet you seem to be trying to equate the idea.  For what purpose?  Do you know what bitcoin is, or you merely consider bitcoin as some kind of tool used in a stupid-ass scam website that you are wanting to promote?


Meh. I'm sorry that I touch your tinny feelings, and the reaction is as emotional as all the decision-making in BTC-world
The only thing I'm trying to promote is a common scene, but common scenes resembles sunlight in one way- it can't reach parents basement where the majority of crypto-"investors" sit.

Lots of nonsense.

(12-11-2019, 04:46 PM)Docardio Wrote: You're damn right that gambling and investment are different thing.

Good.  At least we can agree to recognize that basic point.

(12-11-2019, 04:46 PM)Docardio Wrote: Investment is buying houses, land, valuable assets, investing time in developing your business, investing funds to buy goods you'll sell later and gambling is forex and BTC trading. 

You seem a bit lacking of insight.  Surely investing in a variety of assets and businesses can be considered investing, and you can also invest in assets that are not necessarily correlated to other assets, which is part of the theory of investing in bitcoin.   Furthermore, when you invest, if you have done it for a long enough time, you will diversify your investments and hope to get a bit more stability from diversification.  If you invest only in one asset class, such as a currency or something like bitcoin, then you are likely going to be overly speculating.  I personally would not recommend any guy to invest more than 1% to 10% in bitcoin, but of course, each guy should be choosing for himself (regarding the level of allocation) based on his own circumstances including but not necessarily limited to:  cashflow, other investment, view of bitcoin as compared with other investments, risk profile, timeline and time and abilities to research/manage holdings.

(12-11-2019, 04:46 PM)Docardio Wrote: BTw BTC stands for brainless twat cunt.

You are showing your own maturity, which doesn't seem to be too high, that's for sure.

(12-11-2019, 04:46 PM)Docardio Wrote: Wish you good math grades in your high-school, these will be helpful in financial behavior when you grow up  Heart

You must be mixing bitcoin up with something else.   Have you looked at the actual bitcoin charts in order help ur lil selfie to better understand maths?  Bitcoin has been a pretty decent investment for any guy that has invested over the longer term including the employment of dollar cost averaging, buying on dips, accumulation and HODL of bitcoin.  Especially if such guy has invested for at least 3.5 years.  Sure, it is true that past performance cannot guarantee future results, so in that regard it is good to prepare for BTC prices that might go in either direction, and even flat.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 12-11-2019

Even though I don't proclaim to understand all the components of the below tweeted chart, there seems to be an indication that bitcoin is at least as good of an investment as more traditional investments, in spite of its volatility.  The Sharpe ratio is meant to indicate whether an asset (or investment) is a good one.  This might also be a supplemental response to diptwat troll/shill Docardio in my earlier above post.  

https://twitter.com/skewdotcom/status/1204111070840983552

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


RE: The Bitcoin Thread (price and other bitcoin related topics) - Swordfish1010 - 12-12-2019

https://www.500headlinesaboutbitcoin.com

Not sure if you saw this JJ, but thought I'd share. Epic quotes.