Do You BitCoin?

[T&C]

Bitcoin burglar escapes:

 

http://www.baynews9.com/content/news/baynews9/news/article.html/content/news/articles/ap/2018/04/17/Suspect_in_Iceland_s_Big_Bitcoin_Heist_escapes_prison.html

[Foxx]

first we have this item:

 

Goldman Sachs to Launch Bitcoin Futures Contracts

 

then today we have this item:

 

also, it appears that the consolidation phase of the last 4 months is now complete and BTC is looking for a breakout to the upside.

[Jauronimo]

Late March early April was just depressing.  $300 ETH and sub $7,000 BTC was a real gut check and don't even want to talk about some of my Alts. I top ticked ADA, IOTA, and then went full tard into QSP and FUN.  If you've never heard of FUN, let me tell you its anything but. ZRX and EOS weathered the storm fairly well.  I took about a month long break from checking prices.

 

Now everything is back in the black. 

[John from Riverside]

Im still investing....:)  Little bit each month

[Foxx]

i guess what i don't get is the whole futures (fakeshit) market. 

 

they sell these things like derivatives. they inflate the number of paper BTC and manipulate it's price. fact, there is only slightly more than 17million BTC currently in existence today with a total of only 21 million that will ever be in existence. these guys, for lack of a better descriptor, are going to sell 'x' times that amount of BTC in paper, something that is completely worthless, as all derivatives essentially are. derivatives are a banksters wet dream, they can't lose unless the whole house of cards collapses.

 

back in November of last year when word leaked that the Cboe and CME would be the first to begin futures trading, the price ran from $6.5 k to within a whisker of $20k in one months time. when they actually began selling the futures is when the bear market began and the consolidation phase kicked in. will something similiar happen again with the grandaddy of derivates announcing they are getting in? i don't know but i do know that their timing is pretty good. this consolidation/correction phase we just went through has formed solid support needed for just such another run, imo.  my distaste for derivatives aside, i do believe this next run up is going to be on an order of magnitude what the last one was.

 

your mileage may vary. your own due dilligence is required and absolutely needed before making any investments in any speculative instrument. this above are just my musings and not to be taken seriously.

 

word of note here, you don't own any BTC unless you own the private key to the wallet that the BTC is stored in.

Edited May 3, 2018 by Foxx

[Foxx]

the market free fall is something to see. BTC is in the $5k territory, ETH is approaching $400 and LTC has dropped 25% in the last ten days alone.

 

capitulation is at hand.

Edited June 24, 2018 by Foxx

[John from Riverside]

6 hours ago, Foxx said:

the market free fall is something to see. BTC is in the $5k territory, ETH is approaching $400 and LTC has dropped 25% in the last ten days alone.

 

capitulation is at hand.

Fox

 

I havent been keeping up and modestly continue to buy bitcoin when I get paid......still a good investment?

[Foxx]

24 minutes ago, John from Riverside said:

Fox

 

I havent been keeping up and modestly continue to buy bitcoin when I get paid......still a good investment?

John, i can't give you  financial advice. who knows where the market will go from today to tomorrow. personally, yes i still believe cryptos are the wave of the future and worth looking into. again please do not take my advice, your own due diligence is required. i was lucky in that i got into Bitcoin back in 2012 when it was $5 apeice. as such, regardless where it goes i have already won.

[John from Riverside]

7 minutes ago, Foxx said:

John, i can't give you  financial advice. who knows where the market will go from today to tomorrow. personally, yes i still believe cryptos are the wave of the future and worth looking into. again please do not take my advice, your own due diligence is required. i was lucky in that i got into Bitcoin back in 2012 when it was $5 apeice. as such, regardless where it goes i have already won.

Personal opinion will do...I wont hold you to it

 

Not putting more towards it then I can afford to lose......and its a long term thing for me.

[Foxx]

Bitcoin has  exploded over 10% higher today, obliterating its 50-day moving average. it is above $7000 for the first time since early June. it is also now testing its 100 day moving average, shooting up over $600 in 30 minutes.

 

stay tuned....

Edited July 17, 2018 by Foxx

[/dev/null]

https://tech.slashdot.org/story/18/09/20/2144213/crippling-ddos-vulnerability-put-the-entire-bitcoin-market-at-risk

[mead107]

More TBD members have meadcoin than bitcoin ?

[Mr Info]

11 hours ago, /dev/null said:

https://tech.slashdot.org/story/18/09/20/2144213/crippling-ddos-vulnerability-put-the-entire-bitcoin-market-at-risk

 

Funny comment from this link.

 

“Can we please just change the name of Bitcoin to CrimeCoin already? That's the only thing it's good for.

 

Exactly. We could eliminate all but four coins, and use different ones for different specific purposes:
- Drug Coin
- Child Porn Coin
- Money Laundering Coin
- Ransomware Coin”

[BeginnersMind]

54 minutes ago, Mr Info said:

 

Funny comment from this link.

 

“Can we please just change the name of Bitcoin to CrimeCoin already? That's the only thing it's good for.

 

Exactly. We could eliminate all but four coins, and use different ones for different specific purposes:
- Drug Coin
- Child Porn Coin
- Money Laundering Coin
- Ransomware Coin”

 

I had business dealings with an alternate currency in the early 2000s. I could never see any rationale for its use besides a few hippie communes and a lot of drug and human trafficking. 

 

Most of the people involved ended up indicted, though they were not personally involved in any of the darker crimes. 

 

Edited September 21, 2018 by BeginnersMind

[ExiledInIllinois]

4 minutes ago, BeginnersMind said:

 

I had business dealings with an alternate currency in the early 2000s. I could never see any rationale for its use besides a few hippie communes and a lot of drug and human trafficking. 

 

Most of the people involved ended up indicted, though they were not personally involved in any of the darker crimes. 

 

MeadCoin would never be associated w/that kind of BS!

 

Okay, maybe illegal Stromboli trafficking. Hey, somebody has to supply the duty-free Italian mortadella & prosciutto and MeadCoin talks!

 

A few slogan:

 

"MeadCoin it's everywhere."

 

"When MeadCoin talks, everybody listens!

[Foxx]

12 hours ago, /dev/null said:

https://tech.slashdot.org/story/18/09/20/2144213/crippling-ddos-vulnerability-put-the-entire-bitcoin-market-at-risk

here is the original article from TheNextWeb.

[plenzmd1]

hey @Foxx , any sense of where this stuff is headed?  I never did buy ant bitcoin, but own a smidge of ETH that is down 90% from its high!!!

 

Thinking of still buying some bitcoin, but wonder if it is the proverbial "catch a falling knife"

[Foxx]

hey Plenz,

 

been wanting to post to this thread for awhile now.  thanks for  bringing it to the forefront.

 

first of all, i have to own my prediction. obviously, 6 figure BTC is not in the cards this year. to say i was wrong would be the understatement of the year. again though, as stated throughout this thread, in no way am i a financial adviser.

 

with that said, i will offer up my current thoughts...

 

i did host that crypto currency conference back in late August/early September on the outskirts of Seattle, WA. which was attended by roughly 35/40 people from all over the world. by all accounts we had a really good time. the hot topic of conversation throughout was obviously BTC and all the aspects that come along with it, along with discussions on various other coins and a great many tokens. 

 

the hardest thing i guess is telling a bunch of people (myself included) that you are in a bear market when you have a bunch of people who are long. i have a great many contacts that i utilize to try and understand the direction things are heading in. it took me sometime to understand what one of them was trying to tell me but this person as been the most correct out of everyone i know with regard. to that end, my opinion is worth as much as the next guys i suppose (possibly less).  i did however take a position on the sidelines with a good percentage of my portfolio  just before the middle of the year. obviously i didn't time the top but i did so long before we got to the levels we are at today.

 

basically BTC is acting much like a commodity. some might argue that it is not but it bears all the hallmarks of a commodity. let us not forget that the US gov still classifies it as a 'property' even though it lost certain standing in 2018 that comes along with a 'property'. namely, tax reporting requirements (for this reason, i performed only a fraction of trading activity this year). doing some forensic analysis of BTC fiat price history, it can be argued that BTC has experienced 4 bubbles in it's short existence. with that thought, imo, this current bubble will not be complete until we reach into the triple digits, barely into it though. why do I think this? because having looked at the history of Bitcoin as a guide, history never really repeats, though it sure does rhyme often enough to cause me to take notice and appreciate it as a forecasting tool. the 2011 bubble cycle lasted 2 years before that was complete. the next bubble in 2013 was a mini and lasted a few months before that cycle completed. the second bubble of 2013 lasted 4 years before it's cycle was complete. which in turn brought us to our current bubble that we are now living through. it could also be argued that there was a bubble prior to the one in 2011.

 

i am still long BTC and have a great belief in blockchain technology. i truly believe that blockchain is going to change the way everyone interacts with the world around them. it is already though you may not know it. i still think (hope) BTC is going to see 6 figures per at some point in the future. the biggest question is when that future will arrive. i am strictly of the opinion today that the current bubble cycle needs to complete itself before it will pave the way for the next bubble and that 6 figure BTC. if i had to guess, i would venture late 2019. however, when i see BTC in the 1000/1500K area, i will begin to scale back in.

 

the reason i am a believer and still long on BTC has been stated previously in this thread many times. to be succinct about why, is i think it will become an international settlement vehicle between countries. something is going to supplant the USD as the world reserve and imo, a neutral conveyance has the best opportunity to do so.

 

i hope this answers your question, if not let me know and i will try to address anything i may have omitted.

 

again, anything contained within this post should not be construed as financial advice, these are just the musings of a keyboard jockey. your own due diligence is of the utmost importance before investing in any financial instrument.

Edited December 7, 2018 by Foxx

[plenzmd1]

AppreciAte the post @Foxx  let me make sure I understand. 

 

You think i good buy in level may may be under 2000? Again, I understand it’s best guess, and BTC could be at $10,000 before it hits $ 2500, and it could hit zero after hitting $1800. 

 

I much appreciate the insight, you understand this stuff way more than I do. 

 

In in terms of blockchain, I agree. Why I bought the ETH @500, thought that the blockchain play. Small stake, but no thoughts of selling any.  Am think of double my position for 20% of the investment!?

 

as they said in boilerrrom, if ya liked it at $500, ya gotta love it at $94!!!!!

Edited December 7, 2018 by plenzmd1

[Foxx]

21 minutes ago, plenzmd1 said:

AppreciAte the post @Foxx  let me make sure I understand. 

 

You think i good buy in level may may be under 2000? Again, I understand it’s best guess, and BTC could be at $10,000 before it hits $ 2500, and it could hit zero after hitting $1800. 

 

I much appreciate the insight, you understand this stuff way more than I do. 

 

In in terms of blockchain, I agree. Why I bought the ETH @500, thought that the blockchain play. Small stake, but no thoughts of selling any.  Am think of double my position for 20% of the investment!?

 

as they said in boilerrrom, if ya liked it at $500, ya gotta love it at $94!!!!!

correct, Plenz. BTC could go to $10K before hitting $2500 and it could go to $0 after hitting $1800. a good entry point may be sub $2K. of course, your mileage may vary.

 

in an nutshell, the beauty of the blockchain is that it is a trustless ledger and therefore immutable. this removes the possibility of corruption which is priceless. lots of innovation coming down the pike.