The Bitcoin Thread (price and other bitcoin related topics)
Here's about a 30 minute video from Simon Dixon asserting that there are scenarios in which bitcoin could become world reserve currency in a quick manner, even going into such a status as early as 2020.



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(11-10-2019, 06:36 AM)JayJuanGee Wrote: Here's about a 30 minute video from Simon Dixon asserting that there are scenarios in which bitcoin could become world reserve currency in a quick manner, even going into such a status as early as 2020.




We have never seen how bitcoin will preform in a recession. It is literally created for that scenario.
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(11-10-2019, 08:31 AM)Swordfish1010 Wrote:
(11-10-2019, 06:36 AM)JayJuanGee Wrote: Here's about a 30 minute video from Simon Dixon asserting that there are scenarios in which bitcoin could become world reserve currency in a quick manner, even going into such a status as early as 2020.

[https://www.youtube.com/watch?v=4oofk-i4uRM[/video]

We have never seen how bitcoin will preform in a recession. It is literally created for that scenario.

You mean that bitcoin was not created in order to buy coffee, crowd source crypto kitties and important things like that? Tongue
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Here's a link to an article discussing Bobby Lee's current prediction of BTC surpassing gold's market cap by 2028, which actually seems pretty conservative to hedge upon the happening of three more halvenings (2020, 2024 and 2028) in order to achieve such 50x results when historically bitcoin has achieved more than 50x results in each of its previous halvenings.   On the other hand, it is understandable that the effects of halvenings would become decently less than they had been in the past, because it is much easier to achieve exponential returns on less than $1 per BTC which would have been less than $10 million market cap in the pre-2012 time frame, versus now with a $8,800 per BTC which adds up to nearly a $160billion market cap.



https://cointelegraph.com/news/bobby-lee...me-by-2028
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Here's a nice new shape, reflecting a survey of about 350 professional financial folks who largely believe BTC to be amongst the best of performers in the coming 12 months.


https://www.coinness.com/news/455282


[Image: newsflash-5dc7db28e2910]
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Here's an interesting article asserting that Royal Bank of Canada is looking into creating crypto currency exchange.

There might be some opportunities, there in Canada, and the article does also mention the QuadrigaCX exit scam situation that recently affected a lot of Canadian customers.

https://cryptopotato.com/royal-bank-of-c...-platform/
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I got my bitcoin only shiftcrypto wallet in today. It's pretty sleek.

(11-10-2019, 06:50 PM)JayJuanGee Wrote: Here's a nice new shape, reflecting a survey of about 350 professional financial folks who largely believe BTC to be amongst the best of performers in the coming 12 months.


https://www.coinness.com/news/455282


[Image: newsflash-5dc7db28e2910]

The boomers are finally starting to see what has been staring at them in the face.
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Looks like Lolli is expanding pretty BIG into China with a partnership with Alibaba.... Whoaza!!

https://cointelegraph.com/news/alibaba-p...ee-bitcoin

[Image: Vsh834AK?format=jpg&name=small]
https://twitter.com/Cointelegraph/status...9986408448
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(11-12-2019, 06:18 AM)JayJuanGee Wrote: Looks like Lolli is expanding pretty BIG into China with a partnership with Alibaba.... Whoaza!!


https://cointelegraph.com/news/alibaba-p...ee-bitcoin

Yeah that is bullish but as someone that doesn't buy cheap shit there, I am much happier about the fold/airbnb announcement.

Jack is in Africa right now shilling bitcoin, more time traveler post predictions coming true lol.

The BAKKT custody announcement was big news too. Lots of big things happening all at once. Ready for more shorts to get rekt.
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(11-12-2019, 06:22 AM)Swordfish1010 Wrote:
(11-12-2019, 06:18 AM)JayJuanGee Wrote: Looks like Lolli is expanding pretty BIG into China with a partnership with Alibaba.... Whoaza!!


https://cointelegraph.com/news/alibaba-p...ee-bitcoin

Yeah that is bullish but as someone that doesn't buy cheap shit there, I am much happier about the fold/airbnb announcement.

Jack is in Africa right now shilling bitcoin, more time traveler post predictions coming true lol.

The BAKKT custody announcement was big news too. Lots of big things happening all at once. Ready for more shorts to get rekt.

It may not really be much of a factor whether each of us would be using any of these developments or traveling to china, and really china seems to have some of its own complications with its waffling back and forth regarding whether bitcoin is good or bad, and maybe even questions regarding how they might end up differentiating between bitcoin and their own coin and various shitcoins.

What is the Jack is in Africa (square related?)

or the Bakkt custody announcement?  I have not seen those, yet... 

By the way, you likely already know that sometimes there can be all kinds of seemingly bullish announcements, but if the momentum is NOT going up, then there is no guarantee that the price is going to start going up, so also sometimes, there can be a purposeful attempt to get the BTC price to go in the opposite direction (at least short term) in order to force close the longs, if there are way more longs building than shorts.

I don't really know... especially anything related to short term prices, unless we really have clear momentum (and even then, I might be saying "wow" rather than, "I told you so."  However, I will say that sometimes it is just fun to say fuck you, once in a while to the various no coiners, fence sitters and bitcoin naysayers, especially during periods that the BTC price is actually rising beyond expectations.

Anyhow, regarding the short term BTC price expectations, I just buy if the price goes down and sell if the price goes up (of course, not too much in either direction).
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https://twitter.com/jack/status/11939374...33792?s=20

https://twitter.com/WhiteAdamL/status/11...01986?s=20
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CME Group (i.e. Chicago Mercantile Exchange) will lanch Bitcoin options in January 2020. Futures were launched in 2017, so offering their exchange for options seems almost like a formality. Still newsworthy though.

From the press release:

Quote:Market users have rapidly adopted Bitcoin futures since their December 2017 launch.  Key highlights of how this market has grown include:
  • [i]Average daily volume of 6,500+ contracts in 2019, equivalent to about 32,500 bitcoin
  • 22 successful futures expiration settlements since launch
  • 3,500+ individual accounts trading
  • 47 percent of trading volume is from outside the U.S.
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(11-12-2019, 09:37 PM)billydingdong Wrote: CME Group (i.e. Chicago Mercantile Exchange) will lanch Bitcoin options in January 2020. Futures were launched in 2017, so offering their exchange for options seems almost like a formality. Still newsworthy though.

From the press release:

Quote:Market users have rapidly adopted Bitcoin futures since their December 2017 launch.  Key highlights of how this market has grown include:
  • Average daily volume of 6,500+ contracts in 2019, equivalent to about 32,500 bitcoin
  • 22 successful futures expiration settlements since launch
  • 3,500+ individual accounts trading
  • 47 percent of trading volume is from outside the U.S.

There might be developing some snowballing, or at least competition between different entities regarding what kinds of services that they will be offering, and maybe CME's launch of options is accelerated based on BAKKT offering options in December?  

Personally, I don't really know how some of those instruments would work for me, when I engage in a much more direct, and even simple strategy of buying and holding.

For example, I know that one of my uncles got into bitcoin because he could do it through GBTC, and when I asked him why he did not just buy directly, he seemed to have gotten nervous about buying directly rather than going through services that are offered to him in his traditional trading accounts.

Anyhow, differing tools will work for different people, and I suppose that some folks are not going to recognize anything bitcoin related as legitimate unless they see some kind of financial instrument that is within their bailiwick of understanding.
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(11-12-2019, 10:54 PM)JayJuanGee Wrote:
(11-12-2019, 09:37 PM)billydingdong Wrote: CME Group (i.e. Chicago Mercantile Exchange) will lanch Bitcoin options in January 2020. Futures were launched in 2017, so offering their exchange for options seems almost like a formality. Still newsworthy though.

From the press release:

Quote:Market users have rapidly adopted Bitcoin futures since their December 2017 launch.  Key highlights of how this market has grown include:
  • Average daily volume of 6,500+ contracts in 2019, equivalent to about 32,500 bitcoin
  • 22 successful futures expiration settlements since launch
  • 3,500+ individual accounts trading
  • 47 percent of trading volume is from outside the U.S.

There might be developing some snowballing, or at least competition between different entities regarding what kinds of services that they will be offering, and maybe CME's launch of options is accelerated based on BAKKT offering options in December?  

Personally, I don't really know how some of those instruments would work for me, when I engage in a much more direct, and even simple strategy of buying and holding.

For example, I know that one of my uncles got into bitcoin because he could do it through GBTC, and when I asked him why he did not just buy directly, he seemed to have gotten nervous about buying directly rather than going through services that are offered to him in his traditional trading accounts.

Anyhow, differing tools will work for different people, and I suppose that some folks are not going to recognize anything bitcoin related as legitimate unless they see some kind of financial instrument that is within their bailiwick of understanding.

Here's links to a couple more articles describing BAKKT's attempt to get a couple more futures products introduced through Singapore before the end of the year.

https://www.coinness.com/news/458404

https://www.coindesk.com/bakkt-in-discus...-singapore
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My understanding is that difficulty adjustments happen every 2016 blocks in bitcoin, which is about every two weeks.

Regarding the below-linked tweeted chart from PlanB, I am not sure about the meaning of the different color of the UP arrows, because even though there is mostly UP, there is also both up and down through the years.

https://twitter.com/100trillionUSD/statu...6012619777

[Image: EJNQedeW4AAaZkV?format=png&name=small]
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I understand that some guys would be really reluctant to  use anything that is promoted by one of the BIGGER companies, such as Samsung, but I still think that it is good for BIG players to get into the bitcoin (in this case, blockchain) space and offer products and/or services that might also inspire user-friendliness and/or increase adoption.

And, surely, sometimes it is better easier to start to use a wallet from a somewhat known brand than to use some completely unknown brand, which has caused some of the loss of funds in the past.

Apparently the samsung wallet is a new introduction, and here is a nearly 3 minute video link that advertises it.  https://www.reddit.com/r/CryptoCurrency/...ame=iossmf
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Does this tweet remind you of any particular no coiner, or merely repeated themes of bitcoin denial?


https://twitter.com/C_Bendiksen/status/1...97185?s=20

Quote:

>>>>>[url=https://twitter.com/C_Bendiksen][/url]Christopher Bendiksen

@C_Bendiksen


In 2011 it was 'no shorting available'
In 2013 it was 'Willy Bot'
in 2017 it was 'Tether manipulation'

What will be the nocoiner rationalisation boogeyman of the next bull run?

<<<<<<<
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Here's another nice tweet that attempts to anticipate and predict some of the sentiment in the BTC space around the halvening.  Of course, there is no guarantee that all of these behaviors will happen, but the odds seem to be decent.

https://twitter.com/alistairmilne/status...79777?s=21


Quote:

>>>>>>[/url]Alistair Milne

@alistairmilne

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




Exactly half a year before Bitcoin's halving ...

... miners will start hoarding
... HODL'ers will continue hodl'ing
... bears will say it is priced in all the way up
... nocoiners will screech 'bubble' for ~two years
... peak euphoria will be ~18 months afterwards<<<<<
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Here's a nice variation on the "it's a bubble meme."

https://steemitimages.com/p/HNWT6DgoBc18...h&mode=fit

[Image: HNWT6DgoBc18GVREvvsnAjfLwLF5qHHFduNHKinp...h&mode=fit]
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(11-14-2019, 03:56 AM)Swordfish1010 Wrote: Pierre Rochard followed me on twitter, I've officially made it. lol

You must be saying some good shit.   Tongue

Also, I agree with you that there are several of the guys in the bitcoin twitter world who are quite selective in their tweet honing skills.
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