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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) - billydingdong - 07-01-2020

(07-01-2020, 08:53 PM)Mikestar Wrote: Hey guys, not gonna lie I only invest in stocks and I’m a beginner but I’ve been hearing now could be a good chance as Bitcoin may be on the road to 10k. I just have one question, does bitcoin have trading hours like NASDAQ for example or is it always active? Is buying now a good idea?

IIRC, you're fairly young so good on you for getting into the habit of investing.

As to your question about whether buying Bitcoin is a good idea... I'd have to say, in your case and at this moment in time, no, because there's a more immediate and alarming question: Why are you considering putting your money into something you don't understand at all?

Asking if 'Bitcoin has trading hours' indicates you haven't even watched a youtube video about it. (Answer: no, it doesn't have trading hours it's a virtual currency running on a decentralized distributed network)

I know this sounds condescending, but it seems to me you'd be better served doing some basic research as to what  you're actually buying.

Some questions you may consider:
  • How does this seemingly magic internet money, Bitcoin, work?
  • How has its price fluctuated over time?
  • Why do people who hold Bitcoin deem it a good investment?
  • Do any of these proponents seem like shills?
  • What are some of the Bitcoin skeptics saying? Do their objections have merit?
  • What do some major investors (investment banks, pension funds, hedge funds, etc.) seem to think of it?

At some point in time it may make sense for you to purchase if you find its value prop convincing but I would strongly advise learning more about it for the sake of investor discipline and being informed about what assets you're holding.


RE: The Bitcoin Thread (price and other bitcoin related topics) - Mikestar - 07-01-2020

You’re right man, I literally started investing 2 weeks ago but I’ve researched the stock market for over a year now. Crypto won’t be for me, good luck to you guys though. So far investing is going well, made £70 in a week on my first investment of workhorse (EV truck company). Sold it and reinvesting more cash into Landcadia (golden nugget casino merger)


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 07-01-2020

(07-01-2020, 09:20 PM)billydingdong Wrote:
(07-01-2020, 08:53 PM)Mikestar Wrote: Hey guys, not gonna lie I only invest in stocks and I’m a beginner but I’ve been hearing now could be a good chance as Bitcoin may be on the road to 10k. I just have one question, does bitcoin have trading hours like NASDAQ for example or is it always active? Is buying now a good idea?

IIRC, you're fairly young so good on you for getting into the habit of investing.

As to your question about whether buying Bitcoin is a good idea... I'd have to say, in your case and at this moment in time, no, because there's a more immediate and alarming question: Why are you considering putting your money into something you don't understand at all?

Asking if 'Bitcoin has trading hours' indicates you haven't even watched a youtube video about it. (Answer: no, it doesn't have trading hours it's a virtual currency running on a decentralized distributed network)

I know this sounds condescending, but it seems to me you'd be better served doing some basic research as to what  you're actually buying.

Some questions you may consider:
  • How does this seemingly magic internet money, Bitcoin, work?
  • How has its price fluctuated over time?
  • Why do people who hold Bitcoin deem it a good investment?
  • Do any of these proponents seem like shills?
  • What are some of the Bitcoin skeptics saying? Do their objections have merit?
  • What do some major investors (investment banks, pension funds, hedge funds, etc.) seem to think of it?

At some point in time it may make sense for you to purchase if you find its value prop convincing but I would strongly advise learning more about it for the sake of investor discipline and being informed about what assets you're holding.

Apart from a no coiner or near no coiner (referring to billydingdong) advising you not to invest in bitcoin, I will generally agree with billydingdong that it is good to attempt to have some kind of decent understanding about what you are doing in terms of your investment, and to have your own personal finances in order, and even if I don't necessarily agree with the helpfulness in figuring out the answers to those specific questions that were presented by billydingdong, I do believe that it can take guys quite a while to merely get their own shit together in terms of figuring out how much money that they have in their cashflow that is even available to invest, including making sure that they have their expenses covered for 3-6 months or even a longer period of time.

So, sure there can be a bit of time well spent to figure out a variety of personal details related to answering these kinds of questions:
1) cashflow
2) your other investments
3) your view of bitcoin as compared (or contrasted) with other investments
4) your risk tolerance in regards to various kinds of investments
5) your timeline for investing
6) how much time, skills and abilities do you have for research, planing, trading, reallocating your holdings or tweaking your investment plans and strategies from time to time

Otherwise, I stand by my earlier post, in terms of if a guy can kind of tentatively figure out his cashflow, such as figuring out that maybe he has $1.5k coming in a month, and he has $600 for various lodging expenses and $400 for various kind of transportation and food necessities, $150 for his entertainment budget, $150 to build up his emergency fund and $200 for investment (something like that), then could figure out a plan to start DCA'ing some portion of that $200 right away or making some other kind of plan how to allocate such $200.  

DCA investing allows a guy to get into an investment that he believes in the long run without really having to know a whole hell of a lot about an investment except that you are bullish on the asset in the longer run.. such as 5 years, 10 years or even longer.... and bitcoin could surely be a 5 year or more asset, even though it could have high price performance in the shorter run, but it also might go negative from here, too.

When I got into bitcoin, I already had a 6-month budget figured out so I took 1/3 and bought right away with that portion, 1/3 spread out for DCA and 1/3 allocated for buying on dips (something like that), so it is different when you come into an investment with a lump sum, or if you are just getting into the investment fresh, so if you only have your cash flow then you might figure that out for 6 months and then start to figure out what your budget will be and how often you will buy, presuming that you have authorized yourself into some kind of DCA strategy, but you also might want to allocate for buying on dips, too.

So, surely each aspect of those 6 assessment questions that I listed above would be important to figure out, and if I assume that you have made a tentative plan that kind of resolves items 2 through 6, but then billydingdong was diving more into item 3 with the kinds of questions that he would have that are different from my questions that might revolve more around the sound money aspect of bitcoin and attempting to figure out what differentiates bitcoin from other investments and even differentiates it from shitcoins.  

You might not get all of your answers including that if you are new to investment, there might not be any other investments in your portfolio, because your budget might not be large enough to really be at a stage where diversification makes sense, but in any case, any guy should be attempting to at minimum figure out his cashflow and emergency funds because no guy should be dipping into his investment funds based on emergencies, because if you are doing that, then you are engaging in gambling.. not investing.. furthermore, whenever you cash out part or all of your investment into any asset, it should be at a time of your own choosing, either parameters have been reached or a timeline has been reached that had largely already been set by you, rather than if you had engaged in poor cash flow management or bad risk management and are forced to cash out some or all of your investment at a time that is not of your own choosing.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 07-08-2020

There are continuous claims that the number of long time BTC HODLers are increasing and the number of BTC that do not move are increasing, which causes the remaining BTC that are in circulation to become higher and higher in demand.

The below tweet and the article that is attached therein seem to support the proposition that long term BTC HODLers are continuing to increase.

https://twitter.com/tradingbtc1/status/1280531411137466369


Quoted text:>>>>>>>
Number of Bitcoin "HODLers" Just Eclipsed 20 Million
https://tradingbtc.com/2020/07/07/number-of-bitcoin-hodlers-just-eclipsed-20-million/
Following this year’s block rewards reduction event in mid-May, the flagship cryptocurrency entered a consolidation period without providing any clear signs of where it is headed next. Since then, i...<<<<<<



RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 07-08-2020

Here's a tweet and a thread that has a "violent sell off" theory analytical approach to looking at recent BTC price moves back to July 2019, to show a series of down price moves that came from quick baby tops.

The thing seems to be suggesting that we might be going up from here... but who knows... you can look at it yourself:

[Image: EcV-bwZWoAA97Bm?format=jpg&name=small]

https://twitter.com/crypto_birb/status/1280569396612739073?s=21

Tweeted Quote:

>>>>>>>
Let's make it clear. $BTC broke out of the long-term bear market. Going sideways for 3 months now. Market tops are violent and don't take 3 months to form. Make what you want out of this
<<<<<


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 07-09-2020

Even though I tend to be bothered in comparing bitcoin's outperformance of other assets, due to the exponential s-curve adoption theory in regard to bitcoin's still being in a relatively nascent place.

Nonetheless, there is something directionally correct about the content of the below-attached tweet that should cause a certain amount of pondering for any guy who might be on the fence in regards to either creating a bitcoin plan or beginning some kind of execution of a bitcoin plan (hedging continues to be an o.k. plan, from my perspective).

https://twitter.com/obi/status/1281145849326829570?s=21

Quote:
>>>>>>In 2021, #Bitcoin

[Image: Bitcoin_2020.png]

[url=https://twitter.com/hashtag/Bitcoin?src=hashtag_click][/url] will be 12.5 years old and has risen from $0.0025 to over $9000.

In 2021, Fiat (eg. GBP, USD) will celebrate 50 years of replacing gold as the world's dominant money—only 4X longer than the age of BTC!—and has devalued 95% due to inflation.

Do the math.<<<<<<<



RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 07-11-2020

Here's an interesting way of considering our current bitcoin status, which I got these wise words and diagram from a combination of fillippone and J. Lopp, as can be traced through this link.

>>>>
Bitcoin is at the crossroad of many different human knowledge fields: we are keen on focusing only on single one, maybe two, but the reality is way more complex.<<<<  quoted from fillippone.

[Image: ?u=https%3A%2F%2Fpbs.twimg.com%2Fmedia%2...Ew6RDoUMUg]
Image from J. Lopp's tweet.

Of course, there are some people who are going to see more of the loops - but those who are new to bitcoin likely have to build upon which loops they see and even figure out the extent to which what they see is accurate, if at all.


RE: The Bitcoin Thread (price and other bitcoin related topics) - Nolimitz - 07-12-2020

Raoul Pal on Bitcoin hitting $1 million.

Sure you can call it hopium or moonboy hype...

But Raoul is no moonboy. He is a former hedge fund manager and he has made extremely accurate calls in the past, especially as it pertains to the bond markets.

Does that mean take what he says is gospel? Not necessarily.....but pay attention.

Here's the video:

https://www.youtube.com/watch?v=YdfH3F4ZDhc


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 07-12-2020

Here's a nice article, in two parts about bitcoin and privacy:

A Treatise On Bitcoin And Privacy: A Match Made In The Whitepaper
Part 1
Part 2


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 07-12-2020

Here's a decent tweet thread, starting out with a suggesting that the 1999 book, The Sovereign Individual, anticipated something like bitcoin.

https://twitter.com/anilsaidso/status/1281677133685768192



If you scroll down the tweet thread, the account has a series of 23 tweets with various ideas that seem to come from The Sovereign Individual that go over a lot of prediction, transition and sound money related ideas.

For example, here is the last optimistic quote of the series:

>>>>>>>23/ "Setting aside transition difficulties, which could last for decades, the long-term prospects for the global economy should be highly bullish."

---------------
THE END<<<<<<



RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 07-13-2020

Here's a nice little summary tweet of bitcoin's current status... which seems to be all inclined towards positive indicators, in my thinking.

https://twitter.com/alistairmilne/status/1282630594107781121?s=21

Quote:
>>>>>>>>>>>>>
#Bitcoin

[Image: Bitcoin_2020.png]

[url=https://twitter.com/hashtag/Bitcoin?src=hashtag_click][/url] is making ATH's:

- record HODL'ing (>12 months)
- record number of addresses with >0.1BTC
- record mining hashrate
- record mining difficulty (in ~1 hour)
- record bid-side orderbook


[Image: 1f609.svg]



... price to follow?<<<<<<<<<<<<<<<



RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 07-20-2020

I like these below charts even though they have variations in time when they were made including being based on predictions from about a year ago that projects out into the future (so on the chart we are just past the 3rd halvening) so towards the bottom part of the range.  Sure projection.. projection, and the charts do not seem to indicate any problem regarding where bitcoin is at currently, and of course, there could be some bouncing around within a range that causes concern or plays out quite differently from the chart(s):

https://twitter.com/cryptosommelier/status/1285204008177668101

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



[Image: ?u=https%3A%2F%2Fi.ibb.co%2FJpz6NvJ%2FE4...FbH89RXN1w]


I was not able to find the exact link to the lower chart, beyond some discussion, here  and here is another link of another variation, too.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 07-21-2020

Here's a nice little quote too maul over, guys:

[Image: ?u=https%3A%2F%2Fi.imgur.com%2Ff1c1l1z.p...ueR0hzp8lA]

Source


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 07-21-2020

Here's an interesting Bitcoin Magazine article and an interesting bitcoin reddit discussion thread about the potential implementation of taproot into bitcoin.

https://bitcoinmagazine.com/articles/bip-8-bip-9-or-modern-soft-fork-activation-how-bitcoin-could-upgrade-next



https://www.reddit.com/r/Bitcoin/comments/hrlpnc/technical_taproot_why_activate/


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 07-23-2020

This is not a bad Medium article from a few days ago to give some of the essential ideas regarding why guys should consider investing (or hedging some investment) into bitcoin.

 Bitcoin Is Not a Get Rich Quick Scheme, It Is Here to Avoid You Get Poor Slowly Over Time


RE: The Bitcoin Thread (price and other bitcoin related topics) - Nolimitz - 07-25-2020

Some bullish sentiment coming from Plan B:

https://twitter.com/100trillionUSD/status/1286943287862059008?s=20

I remember some on this thread were calling for $2k a few months back. With Fed printing into oblivion in the backdrop and handing out stimulus money....

I don't see $2k in the cards.

Dyanmically dollar cost averaging remains the most prudent means of accumulating bitcoin. The Mayer Multiple is only 1.13 https://mayermultiple.info. The best time (historically) to accumulate bitcoin is when this multiple is below 2.4.

Not saying to FOMO in on emotion....just stating it's not too late to start building your position.

Good luck my BTC brothers.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 07-26-2020

(07-25-2020, 07:05 PM)Nolimitz Wrote: Some bullish sentiment coming from Plan B:

https://twitter.com/100trillionUSD/status/1286943287862059008?s=20

I remember some on this thread were calling for $2k a few months back. With Fed printing into oblivion in the backdrop and handing out stimulus money....

I don't see $2k in the cards.

Dyanmically dollar cost averaging remains the most prudent means of accumulating bitcoin. The Mayer Multiple is only 1.13 https://mayermultiple.info. The best time (historically) to accumulate bitcoin is when this multiple is below 2.4.

Not saying to FOMO in on emotion....just stating it's not too late to start building your position.

Good luck my BTC brothers.


I like this recent PlanB tweet regarding guys still hoping to buy BTC below $6k

https://twitter.com/100trillionUSD/status/1287078394908336130?s=20

Quote:
>>>>>
Still hoping to buy the dip at $6000?
Don't hold your breath!
200WMA just passed $6000.
#Bitcoin never ever dipped below 200WMA.
200WMA never decreased.
200WMA is increasing with $200 every month.
<<<<

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


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 07-26-2020

Here's a nice recent article from a couple of days ago describing a kind of back and forth dilemma of a dance that wallstreet has been doing over the years with bitcoin and the concepts of crypto.. 

https://www.institutionalinvestor.com/article/b1mmvg200ctlr0/Wall-Street-s-Crypto-Cold-War


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 07-27-2020

Even if it is fake, it looks and feels nice (referring to BTC price movement).

[Image: bigwheelie.gif]


RE: The Bitcoin Thread (price and other bitcoin related topics) - Contrarian Expatriate - 07-28-2020

Bitcoin's move is a result of the dollar pullback fears.  Precious metals and the altcoins are benefiting from this too.  Let's see how long it lasts before the inevitable retracement happens.