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

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RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 01-18-2020

(01-18-2020, 01:52 AM)Nolimitz Wrote: It is easy to see the large change in sentiment over the past week.

That being said I like to try and maintain discipline during these times. Rather than FOMO I simply averaged in....it is easy to lose rational judgement in the emotion of the crowd.

Until bitcoin hits $9500 we are yet to form a higher low. Although $9200-300 being hit could also point to bullish structure.

The point is no one knows. And as Jay has suggested, best to prepare for both directions.

Well, yeah, no one wants to be FOMOing into bitcoin or any investment.  That's for sure, so it hard to assert that there is not going to be a correction when we are up about $1,000 for the week and about $1,800 since the beginning of the year.

I am always uncomfortable telling people to buy in when the price has already gone up a lot because I don't want to be blamed when the correction comes, which is inevitable, it is just a matter of when.. and yeah, we could end up going up to $13,880 again before there is a correction, or the correction could happen right now.

Another thing is that a guy has to attempt to assess where he is at, on a personal level.

Let's say if you have $6k that you already allocated to invest in bitcoin over the next 6 months and you have not bought any bitcoin, then maybe you should put $2k in right away and then figure out the remainder of your plan, but if you have already been investing for a while, then you have already established a stake.

Another thing to consider is the amount of your cashflow that you anticipate that you are going to have available to invest in bitcoin over the next 6 months.  Is it $200 per month?  or is it some other amount?  You should take that into account for what you are doing and what you plan to do, and of course, if you have a cashflow that you expect to come in, it is not necessarily prudent to borrow against that anticipated incoming cashflow but instead to wait until you have the cashflow in your grubby little hands before you spend it, whether on bitcoin or otherwise.


RE: The Bitcoin Thread (price and other bitcoin related topics) - Swordfish1010 - 01-18-2020

No risk, no reward. People are ultimately accountable for all decisions they make. No one seems to feel bad for constantly making the wrong bearish calls.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 01-18-2020

Here's an interesting piece of trivia... regarding Tesla... The car can be used to run a full bitcoin node...   hahahahaha

Go figure?

https://dailyhodl.com/2020/01/17/elon-musks-flagship-tesla-can-power-a-full-bitcoin-btc-node/amp/


RE: The Bitcoin Thread (price and other bitcoin related topics) - Swordfish1010 - 01-18-2020

Yo how’s that bsv shitcoin doing? Lol


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 01-18-2020

Take this short-term bullishness (of an article from today) with a considerably LARGE grain of salt... 

https://www.newsbtc.com/2020/01/18/bitcoin-on-the-cusp-of-a-massive-rally-as-analysts-closely-watch-monthly-close/

I have no objections, even though I have reservations.... while I did see some analysis that considered that there could be a bit of a BTC price suppression within a kind of $8,800 to $9k range through the weekend that might thereafter break out towards the end of the weekend or maybe into Monday..... Perhaps?  Perhaps?  Not going to bet the farm on any of these appealing ideas.


RE: The Bitcoin Thread (price and other bitcoin related topics) - SC87 - 01-19-2020

(01-18-2020, 04:47 PM)Swordfish1010 Wrote: Yo how’s that bsv shitcoin doing? Lol

Went good for the people that bought at $80 and sold for $4xx.


RE: The Bitcoin Thread (price and other bitcoin related topics) - Swordfish1010 - 01-19-2020

(01-19-2020, 02:26 AM)SC87 Wrote:
(01-18-2020, 04:47 PM)Swordfish1010 Wrote: Yo how’s that bsv shitcoin doing? Lol

Went good for the people that bought at $80 and sold for $4xx.

So pretty much no one?


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 01-19-2020

(01-19-2020, 02:26 AM)SC87 Wrote:
(01-18-2020, 04:47 PM)Swordfish1010 Wrote: Yo how’s that bsv shitcoin doing? Lol

Went good for the people that bought at $80 and sold for $4xx.


Does that include you?  Or are you merely talking hypothetically people?

The thing about BSV is that hardly anyone owned it and hardly anyone wanted to own it or trade it, except for the scammers who pumped it on the one or two exchanges that happened to have it.

A consideration, for your lil fantasylandia thinking, SC87 regarding the hypothetical people that supposed profited from such pumpening of that crap coin is that they did NOT really exist in any kind of meaningful way, and good fucking luck getting out of that crap too, including for anyone who would have been dumb enough to end up chasing it and buying it after it had already pumped... and bought it for some outrageous price and now its on the decline.. 

Yeah, sure it might pump again.. It surely is illiquid enough to pump to $9k or more, but that would not hardly mean anything regarding its true value or ability to actually be able to sell that crap at that price, if it were to go there.

Furthermore BSV has hardly any positive long term prospective, for anyone dumb enough to get involved in it, even if part of its reason for being is to attempt to suggest that it is somehow better than bitcoin (yeah right  Rolleyes Rolleyes ), even though it hardly has anything going for it, networking effects and including vision (which happens to be in its name).


RE: The Bitcoin Thread (price and other bitcoin related topics) - Swordfish1010 - 01-19-2020

(01-19-2020, 02:35 AM)JayJuanGee Wrote:
(01-19-2020, 02:26 AM)SC87 Wrote:
(01-18-2020, 04:47 PM)Swordfish1010 Wrote: Yo how’s that bsv shitcoin doing? Lol

Went good for the people that bought at $80 and sold for $4xx.


Does that include you?  Or are you merely talking hypothetically people?

The thing about BSV is that hardly anyone owned it and hardly anyone wanted to own it or trade it, except for the scammers who pumped it on the one or two exchanges that happened to have it.

A consideration, for your lil fantasylandia thinking, SC87 regarding the hypothetical people that supposed profited from such pumpening of that crap coin is that they did NOT really exist in any kind of meaningful way, and good fucking luck getting out of that crap too, including for anyone who would have been dumb enough to end up chasing it and buying it after it had already pumped... and bought it for some outrageous price and now its on the decline.. 

Yeah, sure it might pump again.. It surely is illiquid enough to pump to $9k or more, but that would not hardly mean anything regarding its true value or ability to actually be able to sell that crap at that price, if it were to go there.

Furthermore BSV has hardly any positive long term prospective, for anyone dumb enough to get involved in it, even if part of its reason for being is to attempt to suggest that it is somehow better than bitcoin (yeah right  Rolleyes Rolleyes ), even though it hardly has anything going for it, networking effects and including vision (which happens to be in its name).

I'll answer for him, of course not. He's on the sidelines.

JJ, apparently all you have to do is know when to buy low and sell high. it's that easy.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 01-19-2020

(01-19-2020, 02:36 AM)Swordfish1010 Wrote:
(01-19-2020, 02:35 AM)JayJuanGee Wrote:
(01-19-2020, 02:26 AM)SC87 Wrote:
(01-18-2020, 04:47 PM)Swordfish1010 Wrote: Yo how’s that bsv shitcoin doing? Lol

Went good for the people that bought at $80 and sold for $4xx.


Does that include you?  Or are you merely talking hypothetically people?

The thing about BSV is that hardly anyone owned it and hardly anyone wanted to own it or trade it, except for the scammers who pumped it on the one or two exchanges that happened to have it.

A consideration, for your lil fantasylandia thinking, SC87 regarding the hypothetical people that supposed profited from such pumpening of that crap coin is that they did NOT really exist in any kind of meaningful way, and good fucking luck getting out of that crap too, including for anyone who would have been dumb enough to end up chasing it and buying it after it had already pumped... and bought it for some outrageous price and now its on the decline.. 

Yeah, sure it might pump again.. It surely is illiquid enough to pump to $9k or more, but that would not hardly mean anything regarding its true value or ability to actually be able to sell that crap at that price, if it were to go there.

Furthermore BSV has hardly any positive long term prospective, for anyone dumb enough to get involved in it, even if part of its reason for being is to attempt to suggest that it is somehow better than bitcoin (yeah right  Rolleyes Rolleyes ), even though it hardly has anything going for it, networking effects and including vision (which happens to be in its name).

I'll answer for him, of course not. He's on the sidelines.

JJ, apparently all you have to do is know when to buy low and sell high. it's that easy.

Don't you need to know NOT to get caught up with a whole hell of a lot of distracting phoney baloney bullshit, too?

I mean sure if you buy into bitcoin and create a decent investing strategy, then all of a sudden you are going to get distracted into something like BSV, or BCash or ETH or some other scam phoney baloney that is built on hype and marketing but little to no substance, and then you get deluded and start to conjecture that you could make more money (as compared with bitcoin) by investing into that crap.  

What happens is that guys like this then start to feel like they are smarter than all of the bitcoiners until all of a sudden their coins and liquidity of their coins disappear because those other shitcoins have a lot of centralized points of failure and BUGs and the marketing hype does not necessarily hold UP if any of those coins are really attacked whether by bad actors or by instututions or even governments... They are susceptible to a lot of third party risk while trying to act as if they are not....


RE: The Bitcoin Thread (price and other bitcoin related topics) - Swordfish1010 - 01-19-2020

(01-19-2020, 02:47 AM)JayJuanGee Wrote:
(01-19-2020, 02:36 AM)Swordfish1010 Wrote:
(01-19-2020, 02:35 AM)JayJuanGee Wrote:
(01-19-2020, 02:26 AM)SC87 Wrote:
(01-18-2020, 04:47 PM)Swordfish1010 Wrote: Yo how’s that bsv shitcoin doing? Lol

Went good for the people that bought at $80 and sold for $4xx.


Does that include you?  Or are you merely talking hypothetically people?

The thing about BSV is that hardly anyone owned it and hardly anyone wanted to own it or trade it, except for the scammers who pumped it on the one or two exchanges that happened to have it.

A consideration, for your lil fantasylandia thinking, SC87 regarding the hypothetical people that supposed profited from such pumpening of that crap coin is that they did NOT really exist in any kind of meaningful way, and good fucking luck getting out of that crap too, including for anyone who would have been dumb enough to end up chasing it and buying it after it had already pumped... and bought it for some outrageous price and now its on the decline.. 

Yeah, sure it might pump again.. It surely is illiquid enough to pump to $9k or more, but that would not hardly mean anything regarding its true value or ability to actually be able to sell that crap at that price, if it were to go there.

Furthermore BSV has hardly any positive long term prospective, for anyone dumb enough to get involved in it, even if part of its reason for being is to attempt to suggest that it is somehow better than bitcoin (yeah right  Rolleyes Rolleyes ), even though it hardly has anything going for it, networking effects and including vision (which happens to be in its name).

I'll answer for him, of course not. He's on the sidelines.

JJ, apparently all you have to do is know when to buy low and sell high. it's that easy.

Don't you need to know NOT to get caught up with a whole hell of a lot of distracting phoney baloney bullshit, too?

I mean sure if you buy into bitcoin and create a decent investing strategy, then all of a sudden you are going to get distracted into something like BSV, or BCash or ETH or some other scam phoney baloney that is built on hype and marketing but little to no substance, and then you get deluded and start to conjecture that you could make more money (as compared with bitcoin) by investing into that crap.  

What happens is that guys like this then start to feel like they are smarter than all of the bitcoiners until all of a sudden their coins and liquidity of their coins disappear because those other shitcoins have a lot of centralized points of failure and BUGs and the marketing hype does not necessarily hold UP if any of those coins are really attacked whether by bad actors or by instututions or even governments... They are susceptible to a lot of third party risk while trying to act as if they are not....

Yeah it's morally irresponsible to say BSV could be the real bitcoin. Get that shit out of this thread. Only complete idiots think that. At least you and I are here to regulate haha.


RE: The Bitcoin Thread (price and other bitcoin related topics) - Swordfish1010 - 01-19-2020

Also it’s wrong to dump your illiquid shitcoin bag on unsuspecting noobs as well. Karma is real.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 01-19-2020

(01-19-2020, 05:17 AM)Swordfish1010 Wrote: Also it’s wrong to dump your illiquid shitcoin bag on unsuspecting noobs as well. Karma is real.

Sure, we probably have similar thinking in regards to NOT wanting to give too much of our thoughts into paying attention to the drama of shitcoinery, and they thrive on the drama and the attention, and likely even have contingency plans in the event that the faketoshi scammer gets locked up, which would probably be the correct outcome for someone who is attempting to employ the courts for fraudulent purposes - even though there might be too many ambiguities in defending himself in a civil case rather than if he had either brought charges or had been prosecuted in a criminal case (which is not currently happening in the USA proceedings involving him).  

Surely another aspect does end up causing some uncertainties in how the bitcoin price might be responding to the various news and sometimes money might flow through bitcoin in order to go to other coins, so surely, recently, the middle of weekends have tended to be less volatile times, and so my prediction of possible flat prices until the end of the weekend, already has not really played out too well, and we had additional AYHs (all year highs) that pretty much brings us up well over $2k for the year, and who is to say if the price is going to continue to go up and thereby test $10k resistance or are we going to stay in this sub $10k arena... 

Surely, with the passage of time, we are experiencing a greater and greater cushion from the $6,424 bottom, which can bring some greater confidence that the bottom might be "in."   You might know me by now, frequently preparing myself psychologically and financially for even the more extreme scenarios that do not seem to be likely.. but hey, I recall drinking beers at a golf course bar in July and king of gloating about the then $11k price and even expecting that BTC prices might be returning UPwards at any time at that time, and surely a good 6 months later, we had visited BTC prices well below $10k several times, and surely it would be nice to have our final return to 5 digit prices without having to worry any more about 4 digit prices.  

My strategy and psychology in regards to bitcoin is not really going to be affected by the little unimportant attention seeking whore coins on the side, but they cannot be completely ignored, even if just bashed here and there for being annoying, like mosquitos during an otherwise lovely evening.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 01-20-2020

Here's another nice article concerning the topic of whether the halvening is priced in.

https://www.newsbtc.com/2020/01/20/bitcoin-halving-isnt-priced-in-based-on-this-indicator-which-means-price-will-react/

The article concludes that the halvening is not priced in, which is the same as my answer.. which happens to be the correct answer... 

So does not hurt to have some information out there with the "correct" answer... rite?

nice analogue view:

[Image: Annotation-2020-01-20-111104.png]

A mystery concerning where she is going:  Perhaps.

[Image: Inked0-wsakgrVPAcYiA60X_LI.jpg]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 01-20-2020

Even though the gold standard in bitcoin is to keep your own keys, the reality remains that it is very difficult to keep your own keys without fucking things up and losing your coins.

This article argues that there is some safety in keeping coins on exchanges... .even if the exchanges, a hacker or government might use the exchange to take your coins from you.

https://cointelegraph.com/news/binance-ceo-suggests-crypto-exchanges-are-safer-than-keeping-ones-keys


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 01-20-2020

Would be nice if legislation like the below (from late last week) were to pass that would allow reporting exemption of "virtual currency" transactions below $200.

https://www.govtrack.us/congress/bills/116/hr5635/text/ih

https://www.govinfo.gov/content/pkg/BILLS-116hr5635ih/pdf/BILLS-116hr5635ih.pdf


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 01-20-2020

Here's an interesting article that deals with Adam Beck's thoughts about Satoshi, and even discussing that Beck had private communications with Satoshi - through his e-mail.


https://cointelegraph.com/news/adam-back-on-satoshi-emails-privacy-concerns-and-bitcoins-early-days


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 01-21-2020

Here's some graphical representations of the various proclamations that have been made about BTC prices going down...   Now, it is unclear if the proclamation is for BTC to go below $6k or below $3k?   Currently, $3k seems out of reach, but could still proclaim below $6k, even if ultimately wrong.




https://twitter.com/crypto_birb/status/1219412215096397825
[Image: EOw48OXWsAA-GlH?format=jpg&name=small]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 01-23-2020

The below-linked article looked at the first 15 days of 2020, and asserting that the opening of this year is the best since 2012 with about a 22.54% return.

[Image: 960x0.jpg?fit=scale]
https://www.forbes.com/sites/greatspeculations/2020/01/21/bitcoin-has-its-best-start-to-a-year-since-2012/#4eb887df2e22

As I type, we are experiencing a bit of a BTC price correction - down a few percentage points for the week (currently at about $8,440), so I would suggest that our current running return for the year is a bit over 17.38%  Starting price around $7,190.

Of course, there are decent chances that $8k or lower could get tested.. .still unclear about that, but frequently there will be some incentive to try to correct down a bit after a decent price rise before resuming up, in the event that we are going to continue with some up, since the halvening is anticipated to be about early May, too.


RE: The Bitcoin Thread (price and other bitcoin related topics) - Contrarian Expatriate - 01-23-2020

There is an estimate that already 20% of Bitcoin is both permanently lost and unrecoverable for a variety of reasons including lost or destroyed wallets, unknown passwords, deceased owners, and other rather simple reasons.

Peter Schiff just reported that his personal Bitcoin is forever lost due to his forgetting his hard wallet password. Granted, that’s a boneheaded move on an epic level but the extent of of the “deadcoin” and of the people losing access is something to think about.