Bitcoins - fad or trend?

Discussion of all things crypto and blockchain.
User avatar
Long John
Turtle Supporter
Posts: 3756
Joined: Sun Feb 14, 2016
Location: Northeast

Re: Bitcoins - fad or trend?

Postby Long John » Mon Mar 05, 2018

silverpv wrote:That or people took the course and asked for a refund after the course. There's so many ways people can scam.

Yeah, but that's not about crypto or Chris Coney, that's across the board. Their justification for such high rates is the cost of chargebacks, among other things. Do they forbid Amazon purchases with their card because of chargebacks? I'm guessing when it has to do with crypto the rules change

User avatar
dae2dae
Gold Jester
Posts: 8216
Joined: Sat Oct 20, 2012
Location: Los angeles

Re: Bitcoins - fad or trend?

Postby dae2dae » Wed Mar 07, 2018

2 days and no post :pop:
“Paper is poverty, it is only the ghost of money, and not money itself.” Thomas Jefferson
ImageImageImageImage

User avatar
texmex66
Posts: 641
Joined: Tue Feb 02, 2016

Re: Bitcoins - fad or trend?

Postby texmex66 » Thu Mar 08, 2018

dae2dae wrote:2 days and no post :pop:


Dang it Dorian, when are you gonna start that "The 3rd Great $9k Crypto Project? :pop:

User avatar
dae2dae
Gold Jester
Posts: 8216
Joined: Sat Oct 20, 2012
Location: Los angeles

Re: Bitcoins - fad or trend?

Postby dae2dae » Thu Mar 08, 2018

texmex66 wrote:
dae2dae wrote:2 days and no post :pop:


Dang it Dorian, when are you gonna start that "The 3rd Great $9k Crypto Project? :pop:

did that whole thread get deleted? :pop:
“Paper is poverty, it is only the ghost of money, and not money itself.” Thomas Jefferson
ImageImageImageImage

User avatar
texmex66
Posts: 641
Joined: Tue Feb 02, 2016

Re: Bitcoins - fad or trend?

Postby texmex66 » Thu Mar 08, 2018

dae2dae wrote:
texmex66 wrote:
dae2dae wrote:2 days and no post :pop:


Dang it Dorian, when are you gonna start that "The 3rd Great $9k Crypto Project? :pop:

did that whole thread get deleted? :pop:


For your reading pleasure: :D

viewtopic.php?f=142&t=29242

IMHO these projects will exceed all expectations if they HODL. 8-)

User avatar
Long John
Turtle Supporter
Posts: 3756
Joined: Sun Feb 14, 2016
Location: Northeast

Re: Bitcoins - fad or trend?

Postby Long John » Thu Mar 08, 2018

dae2dae wrote:
texmex66 wrote:Dang it Dorian, when are you gonna start that "The 3rd Great $9k Crypto Project? :pop:

did that whole thread get deleted? :pop:

Thread on a 3rd project? Never saw it.

User avatar
SilverDoge
Constitutional Supporter
Posts: 4724
Joined: Mon Apr 21, 2014
Location: Kansas

Re: Bitcoins - fad or trend?

Postby SilverDoge » Thu Mar 08, 2018

Long John wrote:
dae2dae wrote:
texmex66 wrote:Dang it Dorian, when are you gonna start that "The 3rd Great $9k Crypto Project? :pop:

did that whole thread get deleted? :pop:

Thread on a 3rd project? Never saw it.


He is the jester. There is about a 0.01% chance that he began a crypto project thread. Maybe by 2020 we can convert him over? :shh:
Image

User avatar
texmex66
Posts: 641
Joined: Tue Feb 02, 2016

Re: Bitcoins - fad or trend?

Postby texmex66 » Thu Mar 08, 2018

BTC had a quick dump to $9k. Also chart at left for BTC disappeared momentarily.

User avatar
Long John
Turtle Supporter
Posts: 3756
Joined: Sun Feb 14, 2016
Location: Northeast

Re: Bitcoins - fad or trend?

Postby Long John » Thu Mar 08, 2018

A cluster of negative news dealt crypto a hit. But also reported recently was an event that is seen as a big factor in the early February crash. The trustees of the failed Mt. Gox exchange dumped $400 million worth of Bitcoin. That isn't a very big fraction of BTC's total market capitalization. But most BTC is tucked away, not on the trading market, so the dump greatly increased the amount of available BTC. That selloff triggered a bigger selloff. Of course a lot of BTC was bought back when it dropped to $6K, some to resell when the price rose again, and some taken off the market. I wonder what the Bitcoin "float" is at this point.

User avatar
SilverDoge
Constitutional Supporter
Posts: 4724
Joined: Mon Apr 21, 2014
Location: Kansas

Re: Bitcoins - fad or trend?

Postby SilverDoge » Thu Mar 08, 2018

Long John wrote:A cluster of negative news dealt crypto a hit. But also reported recently was an event that is seen as a big factor in the early February crash. The trustees of the failed Mt. Gox exchange dumped $400 million worth of Bitcoin. That isn't a very big fraction of BTC's total market capitalization. But most BTC is tucked away, not on the trading market, so the dump greatly increased the amount of available BTC. That selloff triggered a bigger selloff. Of course a lot of BTC was bought back when it dropped to $6K, some to resell when the price rose again, and some taken off the market. I wonder what the Bitcoin "float" is at this point.


I read that too. First Mt. Gox crashes bitcoin as the lone exchange that got "hacked" in early 2014. Then people build back their positions that Gox screwed them out of only to find the trustee for the assets of Gox is selling BTC by the thousands to raise cash? WTF, dude. Maybe the people want their bitcoin returned instead of cash? Or maybe you trade that amount of BTC in the OTC markets. If this is a true story, this dude should be fired for gross negligence.
Image

User avatar
Brick's
Supporter
Posts: 2196
Joined: Wed Dec 19, 2012
Location: 'Cuse

Re: Bitcoins - fad or trend?

Postby Brick's » Thu Mar 08, 2018

SilverDoge wrote: If this is a true story, this dude should be fired for gross negligence.


Bring back public hangings. Start with the Banksters. Lots of people would clean up their acts.
“Rationality belongs to the cool observer, but because of the stupidity of the average man, he follows not reason, but faith, and the naive faith requires necessary illusion and emotionally potent oversimplifications which are provided by the myth-maker to keep ordinary person on course.”

― Reinhold Niebuhr, Moral Man and Immoral Society: Study in Ethics and Politics

User avatar
dae2dae
Gold Jester
Posts: 8216
Joined: Sat Oct 20, 2012
Location: Los angeles

Re: Bitcoins - fad or trend?

Postby dae2dae » Thu Mar 08, 2018

SilverDoge wrote:
Long John wrote:
dae2dae wrote:
texmex66 wrote:Dang it Dorian, when are you gonna start that "The 3rd Great $9k Crypto Project? :pop:

did that whole thread get deleted? :pop:

Thread on a 3rd project? Never saw it.


He is the jester. There is about a 0.01% chance that he began a crypto project thread. Maybe by 2020 we can convert him over? :shh:

convert me over, I was buying bitcoin in the low hundreds. made plenty and havent touched it again. I'll leave what's left for whenever it hits a million next year or whatever all these guys predicted.
“Paper is poverty, it is only the ghost of money, and not money itself.” Thomas Jefferson
ImageImageImageImage

User avatar
texmex66
Posts: 641
Joined: Tue Feb 02, 2016

Re: Bitcoins - fad or trend?

Postby texmex66 » Thu Mar 08, 2018

Crash helmet on and strapped tight. :shock:

User avatar
SilverDoge
Constitutional Supporter
Posts: 4724
Joined: Mon Apr 21, 2014
Location: Kansas

Re: Bitcoins - fad or trend?

Postby SilverDoge » Fri Mar 09, 2018

dae2dae wrote:
SilverDoge wrote:
Long John wrote:
dae2dae wrote:
texmex66 wrote:Dang it Dorian, when are you gonna start that "The 3rd Great $9k Crypto Project? :pop:

did that whole thread get deleted? :pop:

Thread on a 3rd project? Never saw it.


He is the jester. There is about a 0.01% chance that he began a crypto project thread. Maybe by 2020 we can convert him over? :shh:

convert me over, I was buying bitcoin in the low hundreds. made plenty and havent touched it again. I'll leave what's left for whenever it hits a million next year or whatever all these guys predicted.

Believing in the tech, and the underlying reasons for crypto, and making profits trading crypto, are two different things. They aren't mutually exclusive, and there is nothing wrong with being in one camp or another.

When I mentioned converting you (or anyone), it is always from the perspective of the former, not the latter. Congrats on your profits.
Image

User avatar
Long John
Turtle Supporter
Posts: 3756
Joined: Sun Feb 14, 2016
Location: Northeast

Re: Bitcoins - fad or trend?

Postby Long John » Fri Mar 09, 2018

texmex66 wrote:Crash helmet on and strapped tight. :shock:


I never took my helmet off from the past few crashes. :lol: Actually this one was more of a deep dip, and seems to be coming back at this hour.

User avatar
Long John
Turtle Supporter
Posts: 3756
Joined: Sun Feb 14, 2016
Location: Northeast

Re: Bitcoins - fad or trend?

Postby Long John » Sat Mar 10, 2018

Almost everything is green tonight, in USD and BTC values. Of course, it would be, after that wild dip. But better to see green than more red. Now BTC needs to get back above $10K again. It may take awhile to absorb all that Mt. Gox bitcoin, though. My guess is that at least half of the BTC bought during the early-Feb. crash was tucked away. :wave: Why just half? Well, I figure that a lot of people would like that tucked-away half to be free, so they're selling the other half when it approaches double the price they paid. Which happens to be that resistance in the mid-upper $11,000s that the price kept bouncing off.

Shaky theory, I know. But after watching really smart technical analysts get repeatedly doinked by the market, I don't dismiss off-the-cuff theorizing so easily. Those analysts have a tough job. They need the news to be neutral and manipulators to be idle if they are to have even a 50/50 shot at being right.

User avatar
300Braveheart
Posts: 1479
Joined: Sun Jul 12, 2009
Location: Midwest United States

Re: Bitcoins - fad or trend?

Postby 300Braveheart » Sat Mar 10, 2018

Still a believer, but Bitcoin feels like playing chutes and ladders where the chutes go below the game board into another board of chutes and ladders.
ImageImage
Get $150 cash back for $500 spend on Chase Freedom Unlimited no-annual-fee credit card. Apply here and let me know if you're approved, thanks!!
https://www.referyourchasecard.com/18/05WHH3FP4R

User avatar
SilverDoge
Constitutional Supporter
Posts: 4724
Joined: Mon Apr 21, 2014
Location: Kansas

Re: Bitcoins - fad or trend?

Postby SilverDoge » Sat Mar 10, 2018

300Braveheart wrote:Still a believer, but Bitcoin feels like playing chutes and ladders where the chutes go below the game board into another board of chutes and ladders.


Haha, I just played this game with my daughters last night :thumbup:

Volatility is our friend, right? FYI - there is a ladder on that board that moves you UP about 65 spots all in one move. That was the DEC 6-7 move. From $11,724 to $17,750 in less than 48 hours. I remember that move in real time. Crazy.

The first 5 minutes and 30 seconds of this video is advice gold:
Image

User avatar
Long John
Turtle Supporter
Posts: 3756
Joined: Sun Feb 14, 2016
Location: Northeast

Re: Bitcoins - fad or trend?

Postby Long John » Sat Mar 10, 2018

SilverDoge wrote:The first 5 minutes and 30 seconds of this video is advice gold:

I watched Crypto Investor's video last night, and I thought back to when BTC was $17K, $18K, $19K and the advice around here was "stay long" and "ride the bull." I was trying to counter that with "take profit if it makes sense for YOU, not anybody else." As I posted at the time, I decided to reduce my own exposure, basically limiting it to the money I would put into the trading project plus a couple bitcoin to HODL ... for the ride up to $30K :lol: . I couldn't stick to my "limit" resolve, though. I kept adding a bit to the HODL stash as the price plummeted, all the way down to sub-$6K. But the concept was good, and in line with the sound advice in that video. Know your magic number and stick to it.

User avatar
SilverDoge
Constitutional Supporter
Posts: 4724
Joined: Mon Apr 21, 2014
Location: Kansas

Re: Bitcoins - fad or trend?

Postby SilverDoge » Tue Mar 13, 2018

Unfortunately South Africa is on the verge of becoming the next Zimbabwe. What do people do who are on the cusp of societal and economic upheaval? Search out a better alternative to their soon-to-be worthless fiat:

https://news.bitcoin.com/south-african-google-searches-bitcoin-spike-amid-economic-uncertainty/
Image


Return to “Bitcoin/Crypto/Blockchain”

Who is online

Users browsing this forum: No registered users and 2 guests