Bitcoins - fad or trend?

Discussion of all things crypto and blockchain.
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chris6084
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Re: Bitcoins - fad or trend?

Postby chris6084 » Sat Jan 13, 2018

SilverDoge wrote:
Bucketeer wrote:ZH: Is Bitcoin Racist?
https://www.zerohedge.com/news/2018-01-12/bitcoin-racist


:lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol:

Moron alert! Math & code are racist!?!?!?

This author is either a banker or a communist. The communist also does not like the crypto space because the issuance of money, and specifically the ability to monitor and track every purchase of the citizenry is the ultimate control. The communist does not want people to take that control back from a central authority. This is also how you know the communist does not truly care about the "little guy", and only power & control. Crypto gives the power back to the common man.


You didn't hear that math was racist? :lol:


http://www.washingtonexaminer.com/its-not-just-a-joke-anymore-theyre-actually-claiming-math-is-racist/article/2638468

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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Sat Jan 13, 2018

I'm down to 2 credit cards, which I pay off monthly. My Chase/Amazon card only has a $700 line, I use that for gasoline and Amazon/Internet purchases only. The other card has a $5000 line, I use it once in awhile to keep it active.

I've been hacked twice, and it is a royal PIA to get everything straightened out (debit cards/checking account).
Gentlemen prefer Engelhard.

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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Sat Jan 13, 2018

SilverDoge wrote:
Bucketeer wrote:ZH:New Survey Reveals Staggering Number Of People Are Buying BitCoin On Their Credit Cards.

It's all good as long as Bitcoin rises.....Credit card buyers are weak-hands.

https://www.zerohedge.com/news/2018-01-11/new-survey-reveals-staggering-number-people-are-buying-bitcoin-their-credit-cards


Disagree. Sometimes it is the quickest and easiest way to get your foot in the door. If you pay off your CC each month, the only difference is a slight premium in purchase price. One should NOT be accumulating debt to buy crypto.

That said, I just heard that Capital One has put a stop to all crypto currency purchases. Can't confirm yet, but wouldn't be overly surprised. They don't want to fund the platform that will be their demise.


Well, a crypto transaction is a form of a cash transaction, but the "cash" is inferior, it isn't USD
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Sat Jan 13, 2018

Engadget: Bitcoin was briefly legal tender at KFC Canada.

https://www.engadget.com/2018/01/13/bitcoin-was-briefly-legal-tender-at-kfc-canada/
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Sat Jan 13, 2018

Forbes: U.S. Marshals To Hold Bitcoin Auction For $50 Million Worth Of Cryptocurrency (3813 BTC).
https://www.forbes.com/sites/rogeraitken/2018/01/12/u-s-marshals-to-hold-bitcoin-auction-for-50-million-worth-of-cryptocurrency/#698c058c6127
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fmsfms2003
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Re: Bitcoins - fad or trend?

Postby fmsfms2003 » Sat Jan 13, 2018

Oh my, BTC coin that is actually a coin.... never heard of these

https://bitcoinist.com/big-money-casasc ... for-28700/

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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Sat Jan 13, 2018

Most of us know about Dollar-Cost-Averaging gold and silver. This article talks about DCA for Bitcoin and cryptos. Nothing new or earth-shaking here, but there are people reading these threads who are new to crypto, and I read it through that lens. It notes that trying to buy the dip and sell the bounce is time-consuming and stressful, and I can attest that is true. It recommends DCA (if you don't have a pile of disposable cash) and holding as a safer, less anxious approach. It might appeal to those who have been frustrated trying to beat the market.

https://bitcoinschannel.com/how-to-doll ... ke-a-boss/

cmiller17363
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Re: Bitcoins - fad or trend?

Postby cmiller17363 » Sat Jan 13, 2018

Good post, LJ. I just went through that frustration myself.
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texmex66
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Re: Bitcoins - fad or trend?

Postby texmex66 » Mon Jan 15, 2018

Last recent low on BTC was 12.8k and same today 12.8k, needs to hold as most know. :pop:

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texmex66
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Re: Bitcoins - fad or trend?

Postby texmex66 » Mon Jan 15, 2018

Just broke. Crash helmet on. hang on.

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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Tue Jan 16, 2018

BTC down 4.3% in 24 hours. But most alt-coins on CoinMarketCap are down double digits. It's a market-wide selloff. More government muscle-flexing in Asia, I understand, but I haven't dug into it.

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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Tue Jan 16, 2018

Ok this is hilarious. While we all wait for this bear trend reversal in bitcoin, let us have a good laugh.

https://twitter.com/twitter/statuses/952897164564287488
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cmiller17363
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Re: Bitcoins - fad or trend?

Postby cmiller17363 » Tue Jan 16, 2018

SilverDoge wrote:Ok this is hilarious. While we all wait for this bear trend reversal in bitcoin, let us have a good laugh.

https://twitter.com/twitter/statuses/952897164564287488

We might get to go all in! :lol:
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Tue Jan 16, 2018

cmiller17363 wrote:
SilverDoge wrote:Ok this is hilarious. While we all wait for this bear trend reversal in bitcoin, let us have a good laugh.

https://twitter.com/twitter/statuses/952897164564287488

We might get to go all in! :lol:


Market is getting CRUSHED. Anything is possible in crypto.
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cmiller17363
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Re: Bitcoins - fad or trend?

Postby cmiller17363 » Tue Jan 16, 2018

You were spot on with your warning SD. We may go lower, but you called it.
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Tue Jan 16, 2018

Relax guys, it's a long road, and you need to play the long game.
Gentlemen prefer Engelhard.

cmiller17363
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Re: Bitcoins - fad or trend?

Postby cmiller17363 » Tue Jan 16, 2018

Bucketeer wrote:Relax guys, it's a long road, and you need to play the long game.

I'm HODL'ing, but that was impressive to watch in real time. That was a first for me.
Side note, I guess PM's wanted in on the action.
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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Tue Jan 16, 2018

Man oh man. With only a couple exceptions the whole CMC list is deep red. Well, we've been through this before, and not that long ago. One interesting thing is the money is leaving alts faster than Bitcoin, whose market share is rising.

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xelint
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Re: Bitcoins - fad or trend?

Postby xelint » Tue Jan 16, 2018

Price Manipulation in the Bitcoin Ecosystem

•Suspicious trades on a Bitcoin currency exchange are linked to rises in the exchange rate.

•A single actor likely drove the USD/BTC exchange rate from $150 to $1000 in 2 months.

•Trading volume on all exchanges increased greatly on days with suspicious activity.

•Unregulated cryptocurrency markets remain vulnerable to manipulation today.


https://www.sciencedirect.com/science/article/pii/S0304393217301666

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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Tue Jan 16, 2018

xelint wrote:Price Manipulation in the Bitcoin Ecosystem

•Suspicious trades on a Bitcoin currency exchange are linked to rises in the exchange rate.

•A single actor likely drove the USD/BTC exchange rate from $150 to $1000 in 2 months.

•Trading volume on all exchanges increased greatly on days with suspicious activity.

•Unregulated cryptocurrency markets remain vulnerable to manipulation today.


https://www.sciencedirect.com/science/article/pii/S0304393217301666


This paper is focusing on Mt Gox from 2013. That was the only exchange at the time - of course there was manipulation. Perhaps we focus on 2018 now? Tether is a much more interesting "scandal" in progress.

This paper identifies and analyzes the impact of suspicious trading activity on the Mt. Gox Bitcoin currency exchange, in which approximately 600,000 bitcoins (BTC) valued at $188 million were fraudulently acquired. During both periods, the USD-BTC exchange rate rose by an average of four percent on days when suspicious trades took place, compared to a slight decline on days without suspicious activity. Based on rigorous analysis with extensive robustness checks, the paper demonstrates that the suspicious trading activity likely caused the unprecedented spike in the USD-BTC exchange rate in late 2013
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