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  • Bitcoin jumps $400 in one day and soars to a new record high

    From cnbc.com

    Bitcoin skyrocketed past $7,400 on Friday, hitting yet another record high. The virtual currency had shot past the $7,000 mark for the first time Thursday and finished on $6,895.41 toward the end of the session. According to CoinDesk, the cryptocurrency reached a renewed all-time high of $7,454.04 at 6:40 a.m. ET Friday, after opening at $7,030. The jump in price saw bitcoin rise 6 percent. Analysts believe more institutional investors could warm to the digital token after derivatives operator CME Group announced it would introduce bitcoin futures contracts this year. "This is bitcoin crossing the divide from the ... (full story)

It's definitely a bubble right now. Way overpriced for current fundamentals.

I'd caution everyone to take it easy buying.
It's been a parade of naysayers since $800 or before. At 4900 "short it" (and here I mean the 2nd time it went there, after the China pullback)- over 5k same - 6k "short it with your mortgage" - and now.... not just 7k, but 7,400 revisited with momentum and strength.So what are we saying now??

Quoting raklian
It's definitely a bubble right now. Way overpriced for current fundamentals......
Quoting raklian
It's definitely a bubble right now. Way overpriced for current fundamentals. I'd caution everyone to take it easy buying.
Where's the bubble exactly cause I just don't see it
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See those two big retracements on that slope?

It's way overdue for another one.

It's stupid money buying a top, more or less.
Bitcoin seems to be way to outdated right now, we can have better crypto in many way, i believe in crypto and i think Bitcoin wont be the next to trust for tomorow's trades.
It is going to be a blood bath for many private investor !! this is so hillarious to watch this "tulipomania"
https://www.cnbc.com/2017/11/01/amaz...-ethereum.html
I think this is what's behind the recent gains. Honestly, this thing has the potential to rich 100000 and even a lot higher in a few years if all these big companies start accepting bitcoin. But on the other hand, they can build their own crypto.
Either way, it looks like positive news for bitcoin. I would wait for a retracement for entry tho.
What can i buy with bitcoins?
Quoting Genimi
What can i buy with bitcoins?
Quite a lot by the looks of it.
https://www.coindesk.com/information...with-bitcoins/
But imagine if a retailer like amazon ads it as a payment option.
Every joe and his cousin are getting into bitcoin.. The cloud of unreason is getting bigger ..
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Quoting Nick.
{quote} Where's the bubble exactly cause I just don't see it {image}
it can disapear with only an fbi warning...it can be a memory in 5 sec
Quoting Genimi
What can i buy with bitcoins?
With the crazy volatility, the question should be, Why would I buy anything with bitcoin?

Imagine you made a purchase yesterday morning using bitcoin. By the end of the day, you could have had the same item for 6% less.

It can't be taken seriously as a means of exchange, unless the price stabilizes. At the moment it's only good for speculation
https://www.cryptocoinsnews.com/wp-c...05/Quora-2.png

The chart shows some quite scary figures..the top 1% own 99% of all bitcoins.

Is the price and hysteria being driven by the small percentage of coins in active circulation?

What is going to happen when the 1% decide to dump their holding?
This is a train to death... a blood bath is coming... Again and again history is back again because the human being is still making the same mistakes.
Quoting Philforex
This is a train to death... a blood bath is coming... Again and again history is back again because the human being is still making the same mistakes.
I think you're talking of money printing, inflation, stock bubble, house bubble and overpopulation...
Right???

Bitcoin seems a good remedy against fake money (trizillionds dollar printed each month....)
Quoting raklian
See those two big retracements on that slope? It's way overdue for another one. It's stupid money buying a top, more or less.
Nothing is certain.
I'm buying every 2 weeks a bit.

So sell it smarty???
I know a smart money girl (Ronda.. ) that sold at $4500 for 500
😂😂😂😛😛
LOL
Quoting digit1288
https://www.cryptocoinsnews.com/wp-c...05/Quora-2.png The chart shows some quite scary figures..the top 1% own 99% of all bitcoins. Is the price and hysteria being driven by the small percentage of coins in active circulation? What is going to happen when the 1% decide to dump their holding?
The top 1% is the founder. He has never sold one Bitcoin. Is he still alive? The supply shrinks by one million if he is dead. If he is alive and his holdings are worth 5 billion today surely he would had sold a few Bitcoins already.
Quoting Not-KPMG
{quote} I think you're talking of money printing, inflation, stock bubble, house bubble and overpopulation... Right??? Bitcoin seems a good remedy against fake money (trizillionds dollar printed each month....)
I guess you are buying ? Good luck. Nothing is sure in that greedy world ... but buying Bitcoin is just a suicide.
Bitcoin... bitcoin... bitcoin. There was so much stuff swimming before my eyes, I opened a bitcoin chart, set it up my way & the first thing it says, sell me!
The future of bitcoin may be even brighter but the technical picture is way overbought. I hope besides other thing, the divergence alone on stochastic is quite prominent.
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Unless Bitcoin is like nothing else that has ever been traded, then it's back to $4000 or lower before long. It is so way overbought it's ridiculous.
Quoting Nick.
{quote} Where's the bubble exactly cause I just don't see it {image}
Lolz. Wonder if someone sell old investments here , who gonna to buy it at such insane price!

Quoting Price
It's been a parade of naysayers since $800 or before. At 4900 "short it" (and here I mean the 2nd time it went there, after the China pullback)- over 5k same - 6k "short it with your mortgage" - and now.... not just 7k, but 7,400 revisited with momentum and strength.So what are we saying now?? {quote}
who are buyers? Say if you sell here ...who buys bubble?
Quoting cat
Unless Bitcoin is like nothing else that has ever been traded, then it's back to $4000 or lower before long. It is so way overbought it's ridiculous.
Hi Cat,
exactly my thoughts on that. I sold my btc at 7k ( bought at 5k) and hope to buy back at 5 k until 10 k. But maybe it will never revisit lower levels and we will see +10k end '17, that would be so typical for me.. lol
Quoting Wachturm
{quote} Hi Cat, exactly my thoughts on that. I sold my btc at 7k ( bought at 5k) and hope to buy back at 5 k until 10 k. But maybe it will never revisit lower levels and we will see +10k end '17, that would be so typical for me.. lol
You were wise, and if it goes to 10k without pulling back, you were still wise, because it could just as easily have wiped out your profits overnight.
Quoting cat
{quote} You were wise, and if it goes to 10k without pulling back, you were still wise, because it could just as easily have wiped out your profits overnight.
Thanks for that buddy, appreciate it.
It's really hard to tell what btc and altcoins are worth 10 years from now. Anyway, I plan to buy and hold some in a hardware wallet until 2030. Maybe that is stupid, I dont know. What is your opinion?
Quoting Wachturm
{quote} Thanks for that buddy, appreciate it. It's really hard to tell what btc and altcoins are worth 10 years from now. Anyway, I plan to buy and hold some in a hardware wallet until 2030. Maybe that is stupid, I dont know. What is your opinion?
As someone who lives and dies by my own decisions, I can only advise you to do whatever you feel is the right thing to do, though of course, the further we look ahead, the greater the ambiguity.
https://bitinfocharts.com/top-100-ri...addresses.html

This gives a better over-view
The chart shows me a value of .03 for bitcoin 2010. In less than a decade, a change of perception in the value of something drives it up to 7582.39: something that has no intrinsic value and not even backed by a legal entity like a government or central bank or even a corporation. What else would define a bubble? Say if gold, silver, a stock, an index made such leaps in the same time period. Masses would be crying foul play, beware people, watch your money folks; but not with bitcoin. The frenzy would continue until the pilots of this ride bail out & leave the hopes of masses to the mercy of winds. A few retailers in the euphoria of quick profits might sneer at those who are trying to see through this murky haze to see its end. But the end always begins when the euphoria has numbed the reasoning of most market participants. I find myself looking at the distance it has to cover to reach 10,000 & the voices in my head whisper the fall is near: hopes are dashed worst into the dust when one is soaring high on the wings of dreams. Bitcoin has become a dream & the wake up call is beating louder each moment.

I don't know whether other contrarians think something like this but I would love to hear from those who are looking at one price at which they would sell.
I am short for 5 on leverage with Australian broker I see its pen with a gap but still 6hrs before Asia come online a new high 7600 . Gaps tend to close but we along way from last weeks gap at 5300. There was flash crash mid week down 600 in minutes if you ant my reasons why message me . The hard fork on 16 be interesting ! Lots holding get there free coin some don't under stand you often need to hold the private key!
One reason even if sedgwit makes it faster from 7=14 seconds its a hard sell . The 300,000 transactions a day taking so long and the power it uses ie enough to power a Usa house for a week going be regulated. In Australia you can fund ia VISAbut can put it back durr & Canada the same. See no mention of last weeks hack 40 bits and lots other cryptos . One check maidsafe off to sleep !
https://cointelegraph.com/news/bitco...rvard-academic

Bitcoin headed for $100,000 in 4 years
Quoting johnston
{quote} Lolz. Wonder if someone sell old investments here , who gonna to buy it at such insane price! {quote} who are buyers? Say if you sell here ...who buys bubble?
What you fell to understand is that most players that come into the game don't see things form a chart view perspective. They probably don't even look at the chart when they buy into the market. That's because you have all sorts of different players participating in different manners and with different goals in mind.
Quoting MustafaHaide
The chart shows me a value of .03 for bitcoin 2010. In less than a decade, a change of perception in the value of something drives it up to 7582.39: something that has no intrinsic value and not even backed by a legal entity like a government or central bank or even a corporation. What else would define a bubble? Say if gold, silver, a stock, an index made such leaps in the same time period. Masses would be crying foul play, beware people, watch your money folks; but not with bitcoin. The frenzy would continue until the pilots of this ride bail...
Explain to me what kind of intrinsic value does gold have? Why is a big shiny rock that seats there and looks pretty worth so much? I mean we are talking trillions over here.
Quoting MustafaHaide
Bitcoin... bitcoin... bitcoin. There was so much stuff swimming before my eyes, I opened a bitcoin chart, set it up my way & the first thing it says, sell me! The future of bitcoin may be even brighter but the technical picture is way overbought. I hope besides other thing, the divergence alone on stochastic is quite prominent. {image}
You take a look at any broker order book and you will see retail traders always trying to pick tops and bottoms.
Is the reason why they are always loosing. Well, one of the reasons. They haven't learned one of the main lessons in trading.
"The market can remain irrational longer then you can remain solvent."
Quoting Nick.
{quote} Explain to me what kind of intrinsic value does gold have? Why is a big shiny rock that seats there and looks pretty worth so much? I mean we are talking trillions over here.
Physical gold (not Comex paper futures, not the GLD paper etf, etc), has value to sit there and look pretty because it is the base of the inverted money pyramid.

It is scarce. It doesn't tarnish. It is accepted globally. It can be divided into sepate quantities, each similar to each other to down to the individual atom. It's extraction and refinement always requires a certain amount of time, labor, & materials. It is for these reasons that gold is money. It is a store of value because it is real. It's entire purpose is to sit there "and look pretty" because it is the collateral for all other physical goods. Yes I understand that we don't have a gold standard. However that is irrelevant.

There is always a limited amount (just like bitcoin) and that amount of physical metal is used as the denominator of all paper money globally to determine how much real stuff the paper derivative (fiat currency) can purchase.

Admittedly Comex futures have (temporarily and quite successfully) decoupled physical gold from its natural place as a the foundation of monetary transactions, but it is still the only REAL asset with no counterparty risk. Hence why it is money. Globally.

Ever wonder why BTC, which is intangible, uses a "gold coin" as it's logo? Because subconsciously, even people who have never studied monetary history, subtly understand that gold is the most important money. In the era of massive currency dilution, Greshams law logically dictates that people would rather use fiat currency then gold or silver. And admittedly the best way to operate a banking system isn't solely with gold, it is with a credit system that utilizes gold to back letters of credit. Our present day Central Bankers are not stupid, no matter how many people misunderstand their motives and intelligence. They understand this.

Just a little fun reading for you courtesy of Alan Greenspan before his Fed tenure...

http://www.constitution.org/mon/greenspan_gold.htm


BTC is rising because large funds have been moving large quantities of capital into BTC. Such rise will likely continue for the foreseeable future. As I have said before, BTC has become the new instrument to avoid the financial repression that attempts to lock global populations into depreciating fiat currencies that have their purchasing power continually siphoned away.

As Greenspan states, if there were a way to avoid the inflation tax (such as gold historically) its ownership would necessarily have to be made illegal. Comex Future and zero (legitimate) oversight accomplish the same thing. Therefore BTC is acting as the receptacle for which all the Trillions in new money in the last decade are sloshing into allowing early adopters to protect their purchasing power and accumulated wealth from the stealth tax of inflation. (Note: Please don't insult my intelligence with stats from .Gov that say "inflation is running low". Healthcare, tuition, food, fuel have increased significantly the last 10 years and no amount of clever lies can hide that)

However beware BTC bulls... BTC Comex futures begin next month.
Quoting Mwfinad1211
{quote} Physical gold (not Comex paper futures, not the GLD paper etf, etc), has value to sit there and look pretty because it is the base of the inverted money pyramid. It is scarce. It doesn't tarnish. It is accepted globally. It can be divided into sepate quantities, each similar to each other to down to the individual atom. It's extraction and refinement always requires a certain amount of time, labor, & materials. It is for these reasons that gold is money. It is a store of value because it is real. It's entire purpose is to sit there "and...
Shit, I just learned that Alan Greenspan was of Romanian and Hungarian-Jewish descent.
Quoting Nick.
{quote} You take a look at any broker order book and you will see retail traders always trying to pick tops and bottoms. Is the reason why they are always loosing. Well, one of the reasons. They haven't learned one of the main lessons in trading. "The market can remain irrational longer then you can remain solvent."
I don't know about others but I have remained solvent by keeping my positions smaller and retaining them longer. There is wisdom to sticking with tops and bottoms. They are difficult to mess with. Trend traders are mostly manipulated out of their positions by the random up and down price movement. With tops and bottoms, one can sit there a while with a small position for a big gain. This might just be my personal belief but after all it is what we all trade on- our beliefs.
Quoting Mwfinad1211
{quote} Physical gold (not Comex paper futures, not the GLD paper etf, etc), has value to sit there and look pretty because it is the base of the inverted money pyramid. It is scarce. It doesn't tarnish. It is accepted globally. It can be divided into sepate quantities, each similar to each other to down to the individual atom. It's extraction and refinement always requires a certain amount of time, labor, & materials. It is for these reasons that gold is money. It is a store of value because it is real. It's entire purpose is to sit there "and...
You hit nail on head that central backed rate targetted fiat is better form of money than gold because of the many counterparty risks of gold but crypto solves that problem more elegantly by distributing risk across the world under a non political driven context. Crypto offer store of value, medium of exchange, and unit of account. Fiat suffers from store of value. For this reason we see Greshams law being applied where bad(fiat) money is being driven out by good(crypto).
if you compound bitcoin which was $250 6 years ago. It works out at around 58% /an. You can do better in FX. Also like shares you can only make money IF it goes up. Not like Fx. Ill stick to FX. My %'s are better.
Quoting Sniper2000
if you compound bitcoin which was $250 6 years ago. It works out at around 58% /an. You can do better in FX. Also like shares you can only make money IF it goes up. Not like Fx. Ill stick to FX. My %'s are better.
Your dead wrong. You must be new to trading.

You can also short bitcoin. Better to trade cryptos. Much more money less retailer shenanigans.
Quoting sidhujag
{quote} You hit nail on head that central backed rate targetted fiat is better form of money than gold because of the many counterparty risks of gold but crypto solves that problem more elegantly by distributing risk across the world under a non political driven context. Crypto offer store of value, medium of exchange, and unit of account. Fiat suffers from store of value. For this reason we see Greshams law being applied where bad(fiat) money is being driven out by good(crypto).

Would you mind elaborating on golds counter-party risks?
Quoting sidhujag
{quote} Your dead wrong. You must be new to trading. You can also short bitcoin. Better to trade cryptos. Much more money less retailer shenanigans.
Well I used a compounding calculator. So if thats wrong?? I would suggest you try it. In fact Ive tried two different calculators and they both come out the same.
Quoting Mwfinad1211
{quote} Would you mind elaborating on golds counter-party risks?
Repatriation for one. The other is the fact that you must use IOUs to deal with gold, we already know what happens when you try to use gold coins, ever wonder why those little bumps exist around the outside radius of your coins today? With crypto, a native trustless transfer happens on demand for little to no counter-party risk. A gold backed monetary system is as hopeful as wishing pigs to fly, the world will not go backwards, we have to evolve into a better form of money (one which was engineered to be asymptotically a better form of ideal money as Nash would call it.)
Quoting Sniper2000
{quote} Well I used a compounding calculator. So if thats wrong?? I would suggest you try it. In fact Ive tried two different calculators and they both come out the same.
That does not mean anything when it comes to trading or in this context.
Quoting sidhujag
{quote} Repatriation for one. The other is the fact that you must use IOUs to deal with gold, we already know what happens when you try to use gold coins, ever wonder why those little bumps exist around the outside radius of your coins today? With crypto, a native trustless transfer happens on demand for little to no counter-party risk. A gold backed monetary system is as hopeful as wishing pigs to fly, the world will not go backwards, we have to evolve into a better form of money (one which was engineered to be asymptotically a better form of ideal...

Not sure where repatriation comes into the equation since the gold is physically held by each respective CB. If transfer is necessary that is the role of swaps. I'm very familiar with the point of ridges on coins. Weight is measurable so again not sure where that becomes an issue. All currencies are IOUs in a sense. I don't disagree that a new monetary system could be beneficial but saying the world will not go backwards, is perhaps misinterpreting the concept of what "money" actually is.

I highly doubt bitcoin will ever be "money" by the traditional definition.

While I believe it is a great instrument to prevent theft of purchasing power at the moment, it is far too volatile to be a store of value and thus fails the most basic test of money. It is however a great instrument to speculate and trade due said massive volatility. With good risk metrics, there is no reason trading it can't produce massive profits, which it undoubtedly already has for many people.

However there is no reason to believe that another crypto won't be introduced that has lower energy-per-transaction costs that is more widely adopted and thus supplanting BTC. In the year 2000, who would have thought AOL wouldn't be a dominant company? Not many. Regardless, unless backed by something, taxing authority, legal tender, commodities, etc it is highly unlikely that a decentralized crypto will be widely adopted. Perhaps in a utopia of freedom, but we don't live in utopia. And even the most relaxed countries don't offer freedom. Good luck supplanting long-entrenched financial interests, with strong ties to legal and regulatory bodies, that have a direct stake in financial transactions remaining centralized.
Quoting Mwfinad1211
{quote} Not sure where repatriation comes into the equation since the gold is physically held by each respective CB. If transfer is necessary that is the role of swaps. I'm very familiar with the point of ridges on coins. Weight is measurable so again not sure where that becomes an issue. All currencies are IOUs in a sense. I don't disagree that a new monetary system could be beneficial but saying the world will not go backwards, is perhaps misinterpreting the concept of what "money" actually is. I highly doubt bitcoin will ever be "money"...
Money is a subjective term, boils down to SOV/UOA/MOE. Bitcoin is "money" and gold is not. Fiat is also NOT money by this definition. So today we use a system that does not classify as money because a new definition of money now exists one that satisfies the 3 pillars we look for when bartering for work.

Volatility is a function of liquidity. Do an apples to apples comparison. I have some thoughts on a bond system applied to crypto which will yield some better stability but in the end it will depend on velocity and liquidity.

Bitcoin has the network affect, and my own crypto may be better form by classical definition but not enough to justify a paradigm shift that Bitcoin represented to fiat. You may need to step back and study this holistically a little bit.
Greshams law will ensure the change of gaurd.
Quoting MustafaHaide
{quote} I don't know about others but I have remained solvent by keeping my positions smaller and retaining them longer. There is wisdom to sticking with tops and bottoms. They are difficult to mess with. Trend traders are mostly manipulated out of their positions by the random up and down price movement. With tops and bottoms, one can sit there a while with a small position for a big gain. This might just be my personal belief but after all it is what we all trade on- our beliefs.
When it comes to trading you should try not to fell in love with your beliefs, ideas or expectations.
digit1288 (post 11) is right. A retailer might gamble on taking BTC as payment. Goes up they profit, goes down they lose the profit on the sale or more. A backdoor to being an investment company. Regulators can and should slam that door shut the same as if someone suggested Amazon take any other financial derivative. Not only is this a bubble but what the heck is anyone going to do with bitcoins? WalMart et al would have to convert to dollars to buy inventory. Most manufacturers, wholesalers, and retailers do not have a margin to gamble with. Any reasonable responsible person recognizes the lunacy spinning this whirling dervish faster. You can complain about government regulation but w/o it there is no stability. With it there is no purpose to cryptos.
Lots of people waiting and hoping to buy into CCs if/when they come off.

I wouldn't be surprised if there's potentially a collective $50billion+ of buy orders 20%-50% below here.

Markets are perverse so you have to say there's a high chance prices don't go down and only go higher from here. Perhaps when they've risen much higher then they they finally come off.

Whatever the case, CCs over the next few years are going to offer some INCREDIBLE trading opportunities so forget about whether you like them or not, for a trader they're just another number which goes up or down - focus on that.
Quoting gat
digit1288 (post 11) is right. A retailer might gamble on taking BTC as payment. Goes up they profit, goes down they lose the profit on the sale or more. A backdoor to being an investment company. Regulators can and should slam that door shut the same as if someone suggested Amazon take any other financial derivative. Not only is this a bubble but what the heck is anyone going to do with bitcoins? WalMart et al would have to convert to dollars to buy inventory. Most manufacturers, wholesalers, and retailers do not have a margin to gamble with. Any...
The people paying in btc only have this issue. It can go up or down its 50/50.. like any other currency. Your thinking is typical amongst naive bitcoin skeptics. Lightning networks will also solve the settlement time issue.
Quoting Genimi
What can i buy with bitcoins?
Nobody spends their bitcoins, they think one day they'll be worth $100,000
Quoting yolo
{quote} The top 1% is the founder. He has never sold one Bitcoin. Is he still alive? The supply shrinks by one million if he is dead. If he is alive and his holdings are worth 5 billion today surely he would had sold a few Bitcoins already.
All bitcoins are created by miners I thought. Am I wrong?
Quoting sidhujag
{quote} The people paying in btc only have this issue. It can go up or down its 50/50.. like any other currency. Your thinking is typical amongst naive bitcoin skeptics. Lightning networks will also solve the settlement time issue.
Wrong. Whoever owns a BTC has the problem for as long as they own it. All these cryptos are essentially IPO's but there is nothing behind them. No factories, no product, no service, nothing. Only the promise to maybe buy you a hamburger next Tuesday. Same as the tech bubble with vaporware and PE ratios at infinite with no profits and not even any sales.
Quoting MustafaHaide
Bitcoin... bitcoin... bitcoin..... a bitcoin chart, set it up my way & the first thing it says, sell me! The future of bitcoin may be even brighter but the technical picture is way overbought.... . {image}
I'll reply to you although few others say the same... Overbought... Correction.... Blabla....😭😨😱😱😱

SAYS WHO???

We aren't talking Texaco shares or Apple shares or phony pound, all prone to manipulation etc....taxes...short selling... 😱😱😱

Bitcoin and others are unique, scarce commodity. Sure it fluctuate... ..who cares???
I'm buying 6500 to 3000 if lucky.
Part TP 8000, 9600, 15000, 40000.🐂🐂😀😀

What do i care if it spikes??
Do you see Bank of something printing 500000000 bitcoin tomorrow???? 😭😪
Did you see Draghi print 30 billion papers lately 😂😂😂😂
Is Trumpy printing bitcoin ????
Hardly.
So just keep adding.

I've explained all in my Crypto thread... prices ,user base, future.....
🍻
Quoting Not-KPMG
{quote} I'll reply to you although few others say the same... Overbought... Correction.... Blabla....😨😱😱😱 SAYS WHO??? We aren't talking Texaco shares or Apple shares or phony pound, all prone to manipulation etc....taxes...short selling... 😱😱😱 Bitcoin and others are unique, scarce commodity. Sure it fluctuate... ..who cares??? I'm buying 6500 to 3000 if lucky. Part TP 8000, 9600, 15000, 40000.🝂🝂😀😀 What do i care if it spikes?? Do you see Bank of something...
to me, bitcoin is not a currency, its neither a commodity, nor its an asset.
modern tulpomania.

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therefor, i only shorted it (twice: one with +-0, one with nice profit)
but i have to admit you have been right so far with it. good luck!
Quoting deltaone
{quote} to me, bitcoin is not a currency, it´s neither a commodity, nor it´s an asset.

modern tulpomania. {image} therefor, i only shorted it (twice: one with +-0, one with nice profit)
but i have to admit you have been right so far with it. good luck!
I like you DeltaOne
What do you trade mostly?

I confess I'm EU part-time trader. All others are too crazy. Need time...

Crypto: it's both currency (exchange) and asset(rare commodity). You don't find it on the street.

Tulpomania Come on!!! That old Dutch quirk was 3-4 month long.
In current fast pace that's 2 weeks equivalent.
Having fiscal crisis for good 37 years and bitcoin (solution of problems ) 8 years is faaaaar from mania!!!
Is housing bubble a mania???

Lastly - i know nothing is certain. Sure. But the chance of 40000 bitcoin is way more than $500. So i just add a bit. Started at 260.....all the way to $6200 with few cash-outs.....can't complain.
Next 10000 very soon.
Here's old chart. Anyone can find it in Bitcoin thread on 22/6/17.

Green pips all.
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Quoting Not-KPMG
{quote} I like you DeltaOne What do you trade mostly? I confess I'm EU part-time trader. All others are too crazy. Need time... Crypto: it's both currency (exchange) and asset(rare commodity). You don't find it on the street. Tulpomania Come on!!! That old Dutch quirk was 3-4 month...
vice versa
mostly indices. + eurusd a bit.
agreed, timeline is different.

have a nice evening!
Quoting gat
{quote} Wrong. Whoever owns a BTC has the problem for as long as they own it. All these cryptos are essentially IPO's but there is nothing behind them. No factories, no product, no service, nothing. Only the promise to maybe buy you a hamburger next Tuesday. Same as the tech bubble with vaporware and PE ratios at infinite with no profits and not even any sales.
I dont think you understand how it works. There are bridges to the bad money(fiat) so that avg joe can go offramp and onramp but overtime people will switch to good money(crypto). All this other nonsense you talk is short term typical thinking.
My brokers suspended Bitcoin trading a full week before SEGWIT, yet no one is talking about SEGWIT. Is this just a chance to ease off on the terrible losses that liquidity providers must be enduring, or do they really care for my financial well-being. lol
Quoting sidhujag
{quote} I dont think you understand how it works. There are bridges to the bad money(fiat) so that avg joe can go offramp and onramp but overtime people will switch to good money(crypto). All this other nonsense you talk is short term typical thinking.
How do you possibly think of cryptos as real money? They are even more fiat than paper national currencies. Pogs at least had scrap value for recycling the cardboard. Cryptos have nothing but the hope of a bigger sucker to give more for it. My understanding is clear.
Quoting Not-KPMG
{quote} I'll reply to you although few others say the same... Overbought... Correction.... Blabla....😭😨😱😱😱 SAYS WHO??? We aren't talking Texaco shares or Apple shares or phony pound, all prone to manipulation etc....taxes... Do you see Bank of something...
I am really glad for you that you held it from the beginning around 260 & still holding some or most of it. I envy your ability to stay with the trend and have a belief in its future prospects. My problem is not with bitcoin, its intrinsic value, its supposed asset class or its future. The same way I feel about all the currencies pairs and all else. For me they are just trading instruments. I don't care who prints what or counterfeits it. I just look at my charts and buy oversolds' and sell overboughts'. I am a contrarian and it both pays and costs to be a contrarian. I found it overbought at 7582, sold it and closed the transaction at 7066. Nice little swing! I will keep doing it again as long as it makes newer highs, that is my creed. This is not just with bitcoins: at the moment I am short crude oil, palladium, Dow Jones, DAX, Compaq, Amzon & long JCPenny, GBP, CHF/CZK, USD/CZK, CAD/PLN and few more like that. Might seem like a suicide combination to a trend trader but that works for me. I trade it my way and I have enjoyed good returns for the last whole year. The swings are terrible at times, but I will have it no other way.
Quoting gat
{quote} How do you possibly think of cryptos as real money? They are even more fiat than paper national currencies. Pogs at least had scrap value for recycling the cardboard. Cryptos have nothing but the hope of a bigger sucker to give more for it. My understanding is clear.
I am a developer of a cryptocurrency and before that traded forex/equities for over 10 years so I understand in depth both sides of the equation. I will not waste too much time as I am the CTO of a blockchain based company now but all I can say is that you need to read more. Start with Nash's Ideal Money paper. Check out Chris Martenson's crash course on how the economy works. Once we are at a basic understanding of monetary and economic concepts we can start talking at eyes length.
I'll bet you are giving yourself a bunch of them. To me it is fraud. The whole thing. Hey, I'll give you a million gatcoins for a hundred bucks. Come on, get in on the ground floor.
Quoting gat
I'll bet you are giving yourself a bunch of them. To me it is fraud. The whole thing. Hey, I'll give you a million gatcoins for a hundred bucks. Come on, get in on the ground floor.
Its really not man. It is more true than the usd that the fed prints and gives to treasury dept for no work involved. Now that is a fraud. Checkout rolling stones the real wives of wall street.
Quoting gat
{quote} How do you possibly think of cryptos as real money? They are even more fiat than paper national currencies.
Pogs at least had scrap value for recycling the cardboard. Cryptos have nothing but the hope of a bigger sucker to give more for it. My understanding is clear.
Hmm.
I respect people's opinion.. .... But how can you compare crypto (solid fixed supply) with the endless toilet paper the Central Banks print?? 😲 😭😭😂😂

Did you not hear Draghi printing 360 000 000 000 papers in next year????

Bitcoin will create 12.5x150x365 or about 700 000.
Next year too....
Then 350000......
Or total for the next 120 years of ONLY 4 MILLION !!
And that's it. !!!!!

Sure some spammers will do bitcoin Gold, bitcoin Crap....but they are just this - spammers . Think of silver or copper .

You talk of "bigger sucker "???
Fiat user maybe????
As you hold 100 bucks and Draghi, Carney, Trumpone print what.....450 billion a month......your money are devalued. Next year you have 98.....96....94....
In 25 years you'll be holding $50 only.
I'll be holding whatever bitcoin (scarce commodity) is then. Probably over 100000 per bitcoin.

So crypto is not real money???
How about gold traded certificate??? Fake or real???.... oh it's just paper again .
Quoting Not-KPMG
{quote} Hmm. I respect people's opinion.. .... But how can you compare crypto (solid fixed supply) with the endless toilet paper the Central Banks print?? 😲 😭😭😂😂 Did you not hear Draghi printing 360 000 000 000 papers in next year???? Bitcoin will create 12.5x150x365 or about 700 000. Next year too.... Then 350000...... Or total for the next 120 years of ONLY 4 MILLION !! And that's it. !!!!! Sure some spammers will do bitcoin Gold, bitcoin Crap....but they are just this - spammers . Think of silver or copper...
At the end of the day "Bitcoin" is not a "Coin" its a "Bit of Code" . It is actually against the law to call something that is not legal tender "coin" or currency.
That bit of code is proof of ownership. Prove to me you own your money today. Thats right you cannot.
What it all comes down to is this. You go to work, your boss pays you in dollars, you take those dollars and trade them for bitcoin. Or you go to work, your boss pays you in dollars and you trade them for food and a house to live in. My house keeps me warm in winter my bitcoin keeps me awake at night wondering if it will be worth anything in 10 years.
Quoting sidhujag
That bit of code is proof of ownership. Prove to me you own your money today. Thats right you cannot.
This what would concern me if true with Bitcoin.

Unlikely. Bitcoin has one major hurdle to being used at scale for physical transactions: payments are only confirmed once every 10 minutes (and thats when everythings working well; in practice, it can take days for confirmation to occur). This means theoretically that its possible to spend a bitcoin, then walk next door and spend exactly the same bitcoin at a second establishment. Only one of those transactions will ultimately be confirmed, leaving the other place out of pocket.

If correct then bitcoin is absolutely useless in trade. Correct me if Im wrong.
Quoting Sniper2000
{quote} This what would concern me if true with Bitcoin. Unlikely. Bitcoin has one major hurdle to being used at scale for physical transactions: payments are only confirmed once every 10 minutes (and thats when everythings working well; in practice, it can take days for confirmation to occur). This means theoretically that its possible to spend a bitcoin, then walk next door and spend exactly the same bitcoin at a second establishment. Only one of those transactions will ultimately be confirmed, leaving the other place out of pocket. If correct...
You would think that someone would do a tiny bit of googling before making such comments. Im not even going to bother. When LN comes out this is a non issue in any way even if merchants wanted 0 conf txs
Quoting sidhujag
{quote} You would think that someone would do a tiny bit of googling before making such comments. Im not even going to bother. When LN comes out this is a non issue in any way even if merchants wanted 0 conf txs
Please explain. I'm sorry I don't understand your shorthand.
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  • Posted: Nov 3, 2017 1:20pm
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    Category: Fundamental Analysis
    Comments: 68  /  Views: 22,548