Bitcoins - fad or trend?

Discussion of all things crypto and blockchain.
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texmex66
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Re: Bitcoins - fad or trend?

Postby texmex66 » Mon May 13, 2019

Bucketeer wrote:CoinDesk: Bakkt Sets July Test Date for Bitcoin Futures.
This will be huge for Bitcoin owners.


Who holds the BTC? OH NO! WE GOT HACKED! Enough said. :pop:

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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Mon May 13, 2019

Nice to see BTC top $8K for awhile today. Unfortunately, the stock market tanked at the same time. Still, it's a good sign if investors see BTC as a good place to move money when trade policy is scaring them.

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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Mon May 13, 2019

texmex66 wrote:
Bucketeer wrote:CoinDesk: Bakkt Sets July Test Date for Bitcoin Futures.
This will be huge for Bitcoin owners.


Who holds the BTC? OH NO! WE GOT HACKED! Enough said. :pop:


I'd trust the NYSE over a criminal outfit like Binance or Bitfinex. Since it is a physical market, you either put up the cash or deposit your Bitcoin into cold-storage. Because you have a contract, your coins will never be in their hot-wallet. Seems pretty safe to me. Just my opinion.

I'm going to enter that market, and I have no fears about losing my Bitcoins. If you play it conservatively, it is a no-brainer (that is, if you believe in the future of Bitcoin).

Your assets will be protected by the SIPC, I think that covers $250,000 of assets. I can't see how you can lose with Bitcoin futures, unless your reckless or stupid.
Last edited by Bucketeer on Mon May 13, 2019, edited 1 time in total.
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texmex66
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Re: Bitcoins - fad or trend?

Postby texmex66 » Mon May 13, 2019

Bucketeer wrote:
texmex66 wrote:
Bucketeer wrote:CoinDesk: Bakkt Sets July Test Date for Bitcoin Futures.
This will be huge for Bitcoin owners.


Who holds the BTC? OH NO! WE GOT HACKED! Enough said. :pop:


I'd trust the NYSE over a criminal outfit like Binance or Bitfinex. Just my opinion.


BAWHAHAHAHA :lol:

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Re: Bitcoins - fad or trend?

Postby SilverDoge » Mon May 13, 2019

Bucketeer wrote:
texmex66 wrote:
Bucketeer wrote:CoinDesk: Bakkt Sets July Test Date for Bitcoin Futures.
This will be huge for Bitcoin owners.


Who holds the BTC? OH NO! WE GOT HACKED! Enough said. :pop:


I'd trust the NYSE over a criminal outfit like Binance or Bitfinex. Just my opinion.


Trust isn't the word I'd use. The NYSE enriches itself every day with trades, and owning the exchange. There isn't much money in doing an exit scam, because they would all go to jail. Different story with offshore crypto exchanges, who have a much higher reward to risk ratio with an exit scam. I don't trust either party, but the incentives to scam are much higher in the crypto world outside the U.S. I have less reservations about Coinbase as they are a regulated U.S. institution.
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Mon May 13, 2019

I think if Bitcoin futures are used with a conservative strategy, you'll either make money, but lose nothing as long as you HODL. Of course, you'll need to pledge enough to avoid a margin call, but if you are a long-term believer in Bitcoin, this is going to be an outstanding opportunity, especially for HODLers.

As far as traders, good luck, you'll need it. We just ran up $1000 in the past 24 hours. It can also drop just as quickly.

I'd love to see CoinBase offer futures.
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Re: Bitcoins - fad or trend?

Postby trapperrick » Tue May 14, 2019

Well, I guess the death of Bitcoin has been greatly exaggerated since it jumped over the $8,000.00 mark today. I have to admit, I was one of those that thought this was a dead item.
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Wed May 15, 2019

Forbes: Bitcoin Threatens To 'Take Power' From The U.S. Federal Reserve.

U.S. Congressman Brad Sherman (D) last week introduced a bill to ban bitcoin and cryptocurrencies.

https://www.forbes.com/sites/billybambrough/2019/05/15/a-u-s-congressman-is-so-scared-of-bitcoin-and-crypto-he-wants-it-banned/#60c343646405
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Wed May 15, 2019

EWN: Because Of Microsoft Alone, Bitcoin (BTC) At $8000 Is Significantly Under-priced.

https://ethereumworldnews.com/because-of-microsoft-alone-bitcoin-btc-at-8000-is-significantly-underpriced/
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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Wed May 15, 2019

This reminds me of a story, which I have never bothered to verify, about a bill introduced in Congress to ban the newly invented automobile from competing with the time-honored mode of transportation, the horse and buggy.


Bucketeer wrote:Forbes: Bitcoin Threatens To 'Take Power' From The U.S. Federal Reserve.

U.S. Congressman Brad Sherman (D) last week introduced a bill to ban bitcoin and cryptocurrencies.

https://www.forbes.com/sites/billybambrough/2019/05/15/a-u-s-congressman-is-so-scared-of-bitcoin-and-crypto-he-wants-it-banned/#60c343646405

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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Wed May 15, 2019

Sherman should have been aware of Bitcoin for at least the past 5 years. He reminds me of Rip Van Winkle. He's been a congressman for 20 years. This is a perfect argument for term limits.
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Wed May 15, 2019

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Re: Bitcoins - fad or trend?

Postby satosan » Wed May 15, 2019

Curious has anyone seen any buying/selling of BTC or others at coin shows? I haven't seen any but I don't go to a lot of shows. I was kind of curious why I don't see it. Was thinking if I set up at a show sometime putting out a buy sign.
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Thu May 16, 2019

Satosan - I go to a lot of coin shows. I've never seen any dealer claim to accept Bitcoin, but you might be surprised if you quietly ask. I think that quite a few will accept it, but I also think they quickly sell it for USD.

ENW: Last Time Bitcoin (BTC) Technicals Looked As It Did Now, A 80% Drop Ensued.
https://ethereumworldnews.com/last-time-bitcoin-technicals-80-percent-drop/

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Re: Bitcoins - fad or trend?

Postby Bucketeer » Thu May 16, 2019

CCN: Bitcoin Analyst Destroys ‘Mr. Wonderful’ After Shark Tank Star Bashes Crypto.
https://www.ccn.com/bitcoin-analyst-destroys-mr-wonderful-after-shark-tank-star-bashes-crypto
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Rik Bitter
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Re: Bitcoins - fad or trend?

Postby Rik Bitter » Thu May 16, 2019

Hey, Wasn't MacAfee supposed to reveal the true identity of Satoshi Nakamura this week? Anyone plugged in with the crypto community have an update?
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Thu May 16, 2019

McAfee is an interesting and brilliant guy, but he is also as crazy as a sh*t-house rat. He hasn't issued any confirmative statements about Satoshi.

John has a lot of bravado, but he also has a lot of BS. Go figure.
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Thu May 16, 2019

It's hard to justify this bull run based on volume from the retail side. I think it has to be driven by institutional money, anticipating demand from the general public who want to get in, but can't easily figure out how to do it.

I wonder what the backlog wait is at CoinBase for opening a new account?
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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Thu May 16, 2019

But what's driving the public demand to get back in? A notion that BTC is heading back up to crazy levels, so better get on board now? I would think that FOMO taught a painful lesson to those who believed $18K was just the beginning.

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Re: Bitcoins - fad or trend?

Postby SilverDoge » Thu May 16, 2019

Long John wrote:But what's driving the public demand to get back in? A notion that BTC is heading back up to crazy levels, so better get on board now? I would think that FOMO taught a painful lesson to those who believed $18K was just the beginning.


The same thing that drives people into PMs. Except it gets easier every year for the average consumer/investor to participate. I'd imagine there were many people that watched bitcoin go from $2k to $20k and stayed completely out of it for fear that the market would collapse and they'd lose it all. Well bitcoin has had that similar cycle of gains/losses four or five times now.

This new cycle appears to have created a low of $3.2k. So when I say it is possible to see $40k or $50k bitcoin within the next 12-24 months, all those who stood by the sidelines last time might decide to give it a go this time, or not. What we do know is that oftentimes when the market peaks, it doesn't remain at the peak price very long, so if you aren't simply a buy and Hodler timing is key.

Second, we are just over a year away from the next bitcoin halving. That will be a big deal. Currently 1,800 bitcoins are created/emitted every day. That will be 900 next year: May 2020.

Third, all it takes is just one nation to say they are buying bitcoin (instead of dollars, yen, euro, etc) as a portion of their foreign reserves and it will create a frenzy. It's hard for me to believe it hasn't happened yet. I think it is inevitable.
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