Bitcoin

[Pb Blimp]

On the contrary. They are buying up slowly as people bleed it off, since the excitement feels "over" to them. Then when the time is right they will start buying like a 1% bump, which is enough to send it wild on the up shoot, and people will chase the pump they'll keep going. Then they will play a game of selling while pumping, and buying some when it looks to waver. Then later they'll collect when it's lower.

Their net Bitcoin will always aim to grow, by scaring it out of the people looking for quicks gains in a short time period, at their loss. They are collecting an asset with a growing global infrastructure.

Right now they're shaking out the weak wannabe-hodlers.

You're not "wrong" in price chasing happening, which will be normal until it being used more and more starts to stabilize it. But that doesn't somehow change what it is, or many people's ultimate goal with it. There's some big money getting into more of it all the time. Not everything can happen overnight.

Dude for all our differences I do marvel at your conviction.

 

[RogerD]

Looks like the sellers are in control. A indecision pattern that should break down if it can't rise above this small coil. If it moves lower should be swift to 8k or lower. Early next week. Of course it could bottom and head higher.

Whenever you have a parabolic move in a short amount of time you can expect a drop of 60 to 80 pct most of the time.

 

[853guy]

Not much of a fan of predictions nor those who make them, but it's hard to argue with history. Or as the farmer said: "Who knows? We shall see."

 

[Folsom]

A little perspective

 

[Pb Blimp]

A little perspective

View attachment 38500

?????

Um excuse me; tightening resolution on the time horizon and using a logarithmic valuation axis to flatten the curve is in fact the opposite of gaining perspective. I could flatten Mount Everest with that technique.

 

[NorthStar]

I prefer the perspective above your post, from post #424; it has a more realistic view of world's history and changes in climate and in corruption.

The concept was ... attractive for a while, but the real flaws uncovered now are the end of that era, in my future opinion. The government want taxes on something invisible, that is not invisible anymore. Now comes the real sharks of financial institutions...our governments with the corrupted leaders of our societies, and the young generation of the best hackers.

No matter what people do, money will always drive everyone nuts. ...Hackers included.
The digital wallets in cold storage of the cyber space are simply not safe; they're there for anyone capable enough to grab. Might as well buy new pillow cases and fill them.

 

[DaveC]

Seems like a scam... it's pretty obvious the crypto market is being manipulated. The only reason I see that people are into the concept of crypto currency involves conspiracy theory as well, which is also being manipulated.

And the entire world is paying for it in the form of energy use and widespread malware.

So, I hope world governments put a stop to it. It's not a net gain for the planet, it's just more corruption, which is the world's largest problem.

 

[andromedaaudio]

My thinking is this , the governments all over the world want bitcoin to go , because it takes away their control .
Since its only possible since a month or so to sell bitcoin futures contracts ( go short on bitcoin ) , that then could explain its downfall plus the legislation that they wanna or have imposed.


AS a famous banker once said : gimme control over the money supply and I don't care who makes the laws

 

[Folsom]

?????

Um excuse me; tightening resolution on the time horizon and using a logarithmic valuation axis to flatten the curve is in fact the opposite of gaining perspective. I could flatten Mount Everest with that technique.

Maybe the greater point is you can make any graph read how you want; including FUD graphs.

Blockchain isnt going anywhere. The thing is, when you cant see all the ways it works, understand it well, and get involved to know all the ways it is going to be utilized... you can't see the value. You just scream like an out-dated thing getting old, in pain, on the way out.

Bob, if you're worried about hackers, then you wouldnt out any money in the bank. All of the banks money but a handful is digital. That kind if arguement is irrelevent given that we operate on 95% digital currency already. Plus the blockchain has still never been hacked... banks have.

 

[NorthStar]

Maybe the greater point is you can make any graph read how you want; including FUD graphs.

Blockchain isnt going anywhere. The thing is, when you cant see all the ways it works, understand it well, and get involved to know all the ways it is going to be utilized... you can't see the value. You just scream like an out-dated thing getting old, in pain, on the way out.

Bob, if you're worried about hackers, then you wouldnt out any money in the bank. All of the banks money but a handful is digital. That kind if arguement is irrelevent given that we operate on 95% digital currency already. Plus the blockchain has still never been hacked... banks have.

Very true, it would take some time before I can walk out of my bank with two suitcases containing one million dollars in relatively small bills.

And credit cards have a cap.

Nonetheless, my enthusiasm of few months ago has dissipated, almost completely vanished.
I've been there before and I know very well the consequences, the reason why I said it's a risk that some are willing to take with the full knowledge of a complete lost. And that is my best understanding of bitcoin.

We all have our own personal philosophy about money. We all have our own experiences and stories.
Money for me has super power, I love the high numbers. ...From both sides of the equation; from the ones who have 100 billions to the ones who have less than zero. It is not distributed in reciprocity. It is not shared in a balanced way to make our planet and all the people living on it better and happier.

We don't have a good world's manager. Bitcoin is not it.
And before we hire a good fair financial world's manager, first is to find her (I believe it's a good woman), our planet won't get any better.

No, bitcoin has more hurt than relief.
_____

Last night I watched 'Mudbound' on Netflix. I got higher numbers than with bitcoin.

 

[ack]

Not looking good https://www.bloomberg.com/news/arti...l-cryptocurrency-transactions-on-credit-cards

 

[Folsom]

Al, I think that is just FUD.

First, JP has bought a ton of crytpos. Secondly BoA and all their evilness, applies for a dozen blockchain patents at a time, a few times a year.

But the biggest reason I say that it is merely FUD, is that I have no idea what exchanges accept credit payment. As far as I know, not a single one in the US. But I do not know about other countries - I have serious doubts.

If you think they are fighting for control, maybe they are, but they're doing it by buying up from all you suckers selling at a loss - especially as they release FUD to free up your crytpo.

 

[Pb Blimp]

Maybe the greater point is you can make any graph read how you want; including FUD graphs.

Blockchain isnt going anywhere. The thing is, when you cant see all the ways it works, understand it well, and get involved to know all the ways it is going to be utilized... you can't see the value. You just scream like an out-dated thing getting old, in pain, on the way out.

Bob, if you're worried about hackers, then you wouldnt out any money in the bank. All of the banks money but a handful is digital. That kind if arguement is irrelevent given that we operate on 95% digital currency already. Plus the blockchain has still never been hacked... banks have.

Yep, thats me all right.

 

[asiufy]

Al, I think that is just FUD.

First, JP has bought a ton of crytpos. Secondly BoA and all their evilness, applies for a dozen blockchain patents at a time, a few times a year.

But the biggest reason I say that it is merely FUD, is that I have no idea what exchanges accept credit payment. As far as I know, not a single one in the US. But I do not know about other countries - I have serious doubts.

If you think they are fighting for control, maybe they are, but they're doing it by buying up from all you suckers selling at a loss - especially as they release FUD to free up your crytpo.

AFAIK, most exchanges accepted credit cards. Coinbase does, and they're the biggest, or at least were.
I just got a notice from them saying that, while they still accept credit cards, they claim they have to report their transactions (to the CC company) as being a cash advance, and not a normal purchase.
I guess people were buying cryptos with CCs, hoping to sell it later to pay later, and I guess that didn't end up well...


alex

 

[KeithR]

$7,300 and falling....should get some support around the 200 DMA at $6,200. Probably a buy there for a bounce.

and more quietly, Ethereum has joined the party.

 

[Folsom]

They almost always fluctuate at the same time. If you ever used the exchanges or have seen how they work, it explains why it is basically true all the time. It may not be if Coinbase could have all the different coins that say Bittrex has, as an example.

I'm not impressed that Coinbase made a commercial for TV, for the superbowl. It is pretty demeaning to the technology. Yes people want to make money, but the reason it climbs in value will ultimately mean it is something else. But I suppose other investment places do the same thing.

 

[edorr]

AFAIK, most exchanges accepted credit cards. Coinbase does, and they're the biggest, or at least were.
I just got a notice from them saying that, while they still accept credit cards, they claim they have to report their transactions (to the CC company) as being a cash advance, and not a normal purchase.
I guess people were buying cryptos with CCs, hoping to sell it later to pay later, and I guess that didn't end up well...


alex

Somewhat analogous to walking into a casino and buying chips with the credit card. It baffles me people would actually do this, but apparently there are plenty.

 

[RogerD]

I said Trump's December 21,2017 EO started the crypto collapse as all the criminal syndicate money had rushed into Bitcoin thinking it was a safe haven....the strings have been cut. 4,000 to 2,000

 

[NorthStar]

Yes, it keeps going down, @ an alarming rate, same as when it was going up, also @ an alarming rate.
• http://business.financialpost.com/t...s-drop-with-risk-assets-as-stock-rout-endures

Should we be alarmed? Only the ones without nerves made of chrome steel.

 

[Pb Blimp]

From Bloomberg:

The latest broadside came from Europe, where Bank for International Settlements General Manager Agustin Carstens said there’s a “strong case” for authorities to rein in digital currencies and that central banks -- along with finance ministries, tax offices and financial market regulators -- should police the “digital frontier.”

"Novel technology is not the same as better technology or better economics,” Carstens said in a speech in Frankfurt. He said Bitcoin may have been intended as an alternative payment system with no government involvement, yet it has become “a combination of a bubble, a Ponzi scheme and an environmental disaster,” in reference to its electricity use.

More FUD from the "man"......I think not.