The Bitcoin Thread (price and other bitcoin related topics)
Contrarian, you love to show up on red days. You also never address anyone directly. Your tezos is looking like it's at a discount right now.....be a "contrarian" and buy.

Otherwise leave the thread. I have yet to see one value post from you here.
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(09-03-2020, 11:40 PM)Nolimitz Wrote: Contrarian, you love to show up on red days. You also never address anyone directly. Your tezos is looking like it's at a discount right now.....be a "contrarian" and buy.

Otherwise leave the thread. I have yet to see one value post from you here.
I don't post here for the BTC Maximalists who have vowed to live and die by BTC come ruin or unlikely prosperity.  I post here because it is an open thread and smart people who enjoy building their wealth like to hear contrarian points of view.   

BTC Maximalists only offer cheerleading and dangerous rationalizations when people who take their advice actually lose money.  The endless cheerleading for BTC in this thread has not aged very well this year.   

If you don't find my posts of value, not a problem.  You are free to not read any of them nor respond to them as you often do.  I would not at all be offended if you place me on "ignore."

By the way, I have more than just Tezos.  I sold a big stash earlier in the week and I will likely buy more if I see blood in the water in the handful of non-BTC coins I own.
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https://twitter.com/RaoulGMI/status/1300...25376?s=20

Link to write up from Raoul Pal on why BTC is a superior form of collateral.

@Contrarian "aged well this year"......I can't speak for you, but my time horizon for my investment in Bitcoin is much longer than one year. I agree with your strategy to buy blood in the streets though.....as we are in a bull cycle.

Will there be alts that outperform BTC in this cycle? I don't know.....but probably.

Are many of these alts pump and dump mechanisms? Yes.

Will many of these alts seize to exist within a decade? Yes.

Swing trading can be profitable for those who are skilled at it. Most are not. The long game is the most critical element in my opinion.....many will get shaken out on swings because they chose to focus on the timeframe of a year or two rather than a decade+.


(09-04-2020, 03:00 AM)Contrarian Expatriate Wrote:
(09-03-2020, 11:40 PM)Nolimitz Wrote: Contrarian, you love to show up on red days. You also never address anyone directly. Your tezos is looking like it's at a discount right now.....be a "contrarian" and buy.

Otherwise leave the thread. I have yet to see one value post from you here.
   
If you don't find my posts of value, not a problem.  You are free to not read any of them nor respond to them as you often do.  I would not at all be offended if you place me on "ignore."

I won't ignore posts of a passive aggressive nature. I'll address them directly. If anyone here thinks that insults and passive aggression is of value.....I disagree.
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(09-04-2020, 06:58 PM)Nolimitz Wrote: https://twitter.com/RaoulGMI/status/1300...25376?s=20

Link to write up from Raoul Pal on why BTC is a superior form of collateral.

@Contrarian "aged well this year"......I can't speak for you, but my time horizon for my investment in Bitcoin is much longer than one year. I agree with your strategy to buy blood in the streets though.....as we are in a bull cycle.

Will there be alts that outperform BTC in this cycle? I don't know.....but probably.

Are many of these alts pump and dump mechanisms? Yes.

Will many of these alts seize to exist within a decade? Yes.

Swing trading can be profitable for those who are skilled at it. Most are not. The long game is the most critical element in my opinion.....many will get shaken out on swings because they chose to focus on the timeframe of a year or two rather than a decade+.


(09-04-2020, 03:00 AM)Contrarian Expatriate Wrote:
(09-03-2020, 11:40 PM)Nolimitz Wrote: Contrarian, you love to show up on red days. You also never address anyone directly. Your tezos is looking like it's at a discount right now.....be a "contrarian" and buy.

Otherwise leave the thread. I have yet to see one value post from you here.
   
If you don't find my posts of value, not a problem.  You are free to not read any of them nor respond to them as you often do.  I would not at all be offended if you place me on "ignore."

I won't ignore posts of a passive aggressive nature. I'll address them directly. If anyone here thinks that insults and passive aggression is of value.....I disagree.
Well if you opt to continue reading what I post here, I suggest you develop a thicker skin and stop taking things personally.  Attacking the messenger who bears some bad news is never a good look.

By the way, BTC is flirting with going under 10k currently.  My older posts are proving to be quite a bit more sagacious than even I thought.  I am still hoping to one day buy several bitcoins if and when reaches the depths of $2000 each.  At that point, I will be a BTC enthusiast.  But right now, I have been buying and selling a handful of altcoins which have better upside and trading volatility than BTC.   Volatility is your friend for active trading.
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Imagine thinking that this retrace is "bad news" or "bearish"......

"Active trading"....what kind of setups are you using contrarian. Do tell.
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(09-04-2020, 08:03 PM)Nolimitz Wrote: Imagine thinking that this retrace is "bad news" or "bearish"......

"Active trading"....what kind of setups are you using contrarian. Do tell.
There are more than plenty of tutorials on YouTube for that.
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That's not a setup. That's gambling. I have no no need to take instruction from you.
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(09-04-2020, 08:44 PM)Nolimitz Wrote: That's not a setup. That's gambling. I have no no need to take instruction from you.
Then why did you just ask me to describe it for you?

By the way, the proper terms are speculating and selling short.  And the results speak for themselves.

Finally, ALL positions in Bitcoin are speculative including yours.
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Lol btc hitting $2k. Keep dreaming pal.
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(09-04-2020, 09:41 PM)floridaman Wrote: Lol btc hitting $2k. Keep dreaming pal.

I am not at all dreaming of purchasing BTC.  I said that would be an entry point where I would be willing to jump in and buy several coins at once.  That is different than saying it WILL drop that far.

But be careful.  The last time someone made such a dismissive quip about my entry point on this very thread several months ago, BTC dropped from over 10k to 3.8k so never say never.
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Well I bought a couple coins today.

Seemed like a bargain to me.

No way for the USD to maintain it's strong position indefinitely. It's all hot air propped up by QE. Economic/political/social fundamentals of the U.S are awful. The only saving grace is there isn't a viable runner up at the moment. BTC will get there though.

Curious though did you buy when it was 3.8k? The doomsday types tend to keep waiting for a floor that never happens. Can't be trigger shy in this space.
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Should BTC ever drop to $2K, it will have been flipped so overwhelmingly and convincingly that you'll want exposure to the new winner(s) instead.
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I mentioned this before, but the significance of Microstrategy investing in BTC as a "reserve asset" shouldn't be overlooked. This was a $250 million inflow into Bitcoin from a large corporation.....it won't be the last.

To think corporations will flood into alts coins.......it's just not going to happen. The market caps aren't meaningful enough to do so.

IMO this was a large domino.....that will likely spur hedge funds and others corporations to speculate on BTC as a reserve asset.

"First slow....then all at once."

Imo $7-$9k present excellent entries for long-term hold positions.
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(09-04-2020, 10:46 PM)Hey floridaman Wrote: Well I bought a couple coins today.

Seemed like a bargain to me.

No way for the USD to maintain it's strong position indefinitely. It's all hot air propped up by QE. Economic/political/social fundamentals of the U.S are awful. The only saving grace is there isn't a viable runner up at the moment. BTC will get there though.

Curious though did you buy when it was 3.8k? The doomsday types tend to keep waiting for a floor that never happens. Can't be trigger shy in this space.
No, It is impossible to know the bottom when it occurs.  I have most of my holdings in monthly income producing investments.  Crypto is just a pastime with which I can sell the ride ups and buy back the fall backs.  I did hold a few up until last week and if the downward trend continues, I’ll buy them back in greater volume again shortly.

I live and die by multi family properties as I have gone into on another thread. After investing for 25 years, I have found it to be the best space to park the biggest stashes of funds that you want to see multiply.
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It seems hard to believe right now that BTC will hit a new ATH this year, good thing is that the people will have longer to fill their bags.
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It is sad to see BTC tanking in near lockstep with the stock market. Non-correlation was one of its biggest selling points but ao much for that thus far.

Don’t waste your money until there is blood in the BTC water again.
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Impossible to waste fiat papier de toilette when the alternative is a currency with fixed mintage.

You lot will be waiting for blood in the water when btc hits 6 figures lol.

I'm glad baby boomers are so myopic on crypto though. Going to be a big transfer of wealth to the younger generations whom they screwed over.
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(09-24-2020, 12:46 AM)floridaman Wrote: You lot will be waiting for blood in the water when btc hits 6 figures lol.
WHEN it hits six figures?  I would say IF would be more prudent a view.

There was blood in the water when it his $3850 just a few months ago.  There is nothing that prevents it from going down that far and even further if the markets tank in tandem again.
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(09-24-2020, 01:23 AM)Contrarian Expatriate Wrote:
(09-24-2020, 12:46 AM)floridaman Wrote: You lot will be waiting for blood in the water when btc hits 6 figures lol.
WHEN it hits six figures?  I would say IF would be more prudent a view.

There was blood in the water when it his $3850 just a few months ago.  There is nothing that prevents it from going down that far and even further if the markets tank in tandem again.

There's a finite amount of BTC. Meanwhile mass adoption steadily carries on. 

6 figures is a conservative view. To replace the current money supply, 1 btc would have to be worth about half a mil. 

Getting carried away with fluctuations relative to fiat is rather silly though. All those fiats could come crashing down in a day. Has happened before and will surely happen again.
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(09-24-2020, 01:49 AM)floridaman Wrote:
(09-24-2020, 01:23 AM)Contrarian Expatriate Wrote:
(09-24-2020, 12:46 AM)floridaman Wrote: You lot will be waiting for blood in the water when btc hits 6 figures lol.
WHEN it hits six figures?  I would say IF would be more prudent a view.

There was blood in the water when it his $3850 just a few months ago.  There is nothing that prevents it from going down that far and even further if the markets tank in tandem again.

There's a finite amount of BTC. Meanwhile mass adoption steadily carries on. 

6 figures is a conservative view. To replace the current money supply, 1 btc would have to be worth about half a mil. 

Getting carried away with fluctuations relative to fiat is rather silly though. All those fiats could come crashing down in a day. Has happened before and will surely happen again.
Pure speculation there that does not consider competing crypto currencies stealing market share, better investment vehicles popping up, and more efficient ways to buy precious metals.

BTC is still off it’s highs from 3 years ago, and trending downward at a time when there is economic uncertainty.  

I see BTC reverting to the mean, then slightly fluctuating upward by a single digit percentage in the years to come with periodic bumps in the road.
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