Bitcoins - fad or trend?

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

Postby SilverDoge » Sun Aug 19, 2018

A Forbes article well worth the read. If bitcoin [crypto] is to go mainstream, this type of development [Bakkt] will surely speed it along.

Sprecher is the founder, chairman, and CEO of Intercontinental Exchange (ICE), the company that owns the New York Stock Exchange. ICE can offer the crypto world something that it currently lacks, something that many crypto enthusiasts steadfastly reject: a trusted third party. But if crypto purists take a deep breath, they’ll see that Bakkt could be the third party that indirectly helps to maintain consumers’ ability to use Bitcoin as a decentralized currency—the way Bitcoin was originally envisioned.


https://www.forbes.com/sites/norbertmichel/2018/08/13/new-bakkt-venture-could-make-bitcoin-as-mainstream-as-starbucks/#767e0fc136c8
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tdtwedt
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Re: Bitcoins - fad or trend?

Postby tdtwedt » Mon Aug 20, 2018

After the bitcoin boom: hard lessons for cryptocurrency investors

Almost all of the new customers on Coinbase and Square would be in the red if they bought cryptocurrencies at almost any point over the last nine months and held on to them.


https://www.cnbc.com/2018/08/20/after-t ... stors.html
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Re: Bitcoins - fad or trend?

Postby grantwoodisgold » Mon Aug 20, 2018

SilverDoge wrote:Still alive! I recently moved back to the States from Italy, and that has required much effort and time. And let's just say the new job isn't nearly as laid back as it was on "Italian time". ;)



welcome back Doge :wave:
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Mon Aug 20, 2018

tdtwedt wrote:After the bitcoin boom: hard lessons for cryptocurrency investors

Almost all of the new customers on Coinbase and Square would be in the red if they bought cryptocurrencies at almost any point over the last nine months and held on to them.


https://www.cnbc.com/2018/08/20/after-t ... stors.html


Hey watch, I can play this game too....Almost all of the new precious metals buyers would be in the red if they bought silver at almost any point over the last nine YEARS and held on to it.

Silver Price Chart.png
Silver Price Chart.png (77.09 KiB) Viewed 627 times
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Brick's
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Re: Bitcoins - fad or trend?

Postby Brick's » Mon Aug 20, 2018

I have some fond memories of LInsdsborg, KS . . . Walks down to the Main drag on Friday night. Sees a young lady about his own age across the street in the center of town. Crosses street at the blinking red light to where she is standing and in his best mid-western drawl says "Friday night in Lindsborg, what's happening in this little town?" To which she replies "Oh didn't you hear? Two guys just came into town from California!" :D ;) :twisted: "You don't say." says I.

You gotta love going to a small town and when you get there you find out, YOU are what's happening.

We stayed there for over two weeks.

I've liked Kansas ever since. . . . But to get this conversation back on track:

Every chart tells a story. Short term or long term trades? 9 months are short term to me. 9 years, medium term. Decades are longer term. What do the decades long charts look like? There is your story.
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tdtwedt
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Re: Bitcoins - fad or trend?

Postby tdtwedt » Wed Aug 22, 2018

SEC rejects bitcoin ETFs

The latest rejection involves two ETFs filed by ProShares that would track bitcoin futures contracts, another from GraniteShares, and five leveraged and inverse ETFs from Direxion.

Similar to its rejection of the Winklevoss ETF, the SEC expressed concern about fraud and manipulation of bitcoin markets.


https://www.cnbc.com/2018/08/22/sec-rej ... -etfs.html
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texmex66
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Re: Bitcoins - fad or trend?

Postby texmex66 » Wed Aug 22, 2018

tdtwedt wrote:SEC rejects bitcoin ETFs

The latest rejection involves two ETFs filed by ProShares that would track bitcoin futures contracts, another from GraniteShares, and five leveraged and inverse ETFs from Direxion.

Similar to its rejection of the Winklevoss ETF, the SEC expressed concern about fraud and manipulation of bitcoin markets.


https://www.cnbc.com/2018/08/22/sec-rej ... -etfs.html


Funny how they say they are concerned about fraud and manipulation, but that is exactly what they are doing with these ETF news headlines. Pump and Dumps :)

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Re: Bitcoins - fad or trend?

Postby Bucketeer » Fri Aug 24, 2018

Welcome back Doge!
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Fri Aug 24, 2018

tdtwedt wrote:After the bitcoin boom: hard lessons for cryptocurrency investors

Almost all of the new customers on Coinbase and Square would be in the red if they bought cryptocurrencies at almost any point over the last nine months and held on to them.


https://www.cnbc.com/2018/08/20/after-t ... stors.html


You didn't mention how the early investors are doing. :wave:
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Re: Bitcoins - fad or trend?

Postby tdtwedt » Mon Aug 27, 2018

'Wolf of Wall Street' warns investors of the next big trap: Bitcoin

"I was a scammer. I had it down to science and it's exactly what's happening with bitcoin," he told CNBC in a recent documentary. "The whole thing is so stupid, these kids have gotten themselves so brainwashed."

"This thing is gonna evaporate like a mirage," Belfort said. "There's a lot of really honest people who are gonna get slaughtered."


https://www.cnbc.com/2018/08/27/wolf-of ... tcoin.html
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Mon Aug 27, 2018

tdtwedt wrote:'Wolf of Wall Street' warns investors of the next big trap: Bitcoin

"I was a scammer. I had it down to science and it's exactly what's happening with bitcoin," he told CNBC in a recent documentary. "The whole thing is so stupid, these kids have gotten themselves so brainwashed."

"This thing is gonna evaporate like a mirage," Belfort said. "There's a lot of really honest people who are gonna get slaughtered."


https://www.cnbc.com/2018/08/27/wolf-of ... tcoin.html


So the Wolf of Wall Street is shorting bitcoin then, huh? Thanks for the tip. I hope he gets REKT
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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Tue Sep 04, 2018

Stepping away for awhile lends some perspective. Bitcoin today (well over $7K) is 7 times what it was when I first poked my nose down this rabbit hole. Unfortunately, it's half what it was when Travis and I started our 2018 crypto projects. Patiently HODLing for better days is really the only sensible path forward.

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Re: Bitcoins - fad or trend?

Postby tdtwedt » Wed Sep 05, 2018

Cryptos Crash As Goldman Suspends Trading Desk Plans

Headlines from Business Insider reporting that the bank is ditching plans to open a desk for trading cryptocurrencies in the foreseeable future, according to people familiar with the matter, as the regulatory framework for crypto remains unclear, sparked an instant selling rampage across the entire crypto space.


https://www.zerohedge.com/news/2018-09- ... desk-plans
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tdtwedt
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Re: Bitcoins - fad or trend?

Postby tdtwedt » Thu Sep 06, 2018

Bitcoin Plunges For Second Time In One Day As Cryptocurrency Turmoil Deepens

https://www.zerohedge.com/news/2018-09- ... il-deepens
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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Thu Sep 06, 2018

Topic for discussion: According to CoinMarketCap there are more than 1900 cryptocurrencies. I think the long-term survival of the market may require at least three-quarters of those to fail. Natural selection, survival of the fittest among each subcategory. That would still leave almost 500. Even a reduction of 90% would still leave the top 200 in a stronger position.

It's not that simple, of course, and my numbers are only examples, but I think the concept holds true. There needs to be some winnowing.

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Re: Bitcoins - fad or trend?

Postby Bucketeer » Thu Sep 06, 2018

Welcome back LJ.
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Thu Sep 06, 2018

Long John wrote:Topic for discussion: According to CoinMarketCap there are more than 1900 cryptocurrencies. I think the long-term survival of the market may require at least three-quarters of those to fail. Natural selection, survival of the fittest among each subcategory. That would still leave almost 500. Even a reduction of 90% would still leave the top 200 in a stronger position.

It's not that simple, of course, and my numbers are only examples, but I think the concept holds true. There needs to be some winnowing.


I think 200 is too high
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Brick's
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Re: Bitcoins - fad or trend?

Postby Brick's » Thu Sep 06, 2018

So Goldman announced it is cancelling it's Crypto trading desk. Makes me wonder who much they are buying now that the market tanked on the news.
"If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent," Credited to Goebbles.

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Re: Bitcoins - fad or trend?

Postby Silversaving » Thu Sep 06, 2018

Brick's wrote:So Goldman announced it is cancelling it's Crypto trading desk. Makes me wonder who much they are buying now that the market tanked on the news.

https://www.zerohedge.com/news/2018-09-06/goldman-cfo-says-report-bank-abandoning-plan-trade-cryptocurrencies-fake-news
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Re: Bitcoins - fad or trend?

Postby texmex66 » Thu Sep 06, 2018

Brick's wrote:So Goldman announced it is cancelling it's Crypto trading desk. Makes me wonder who much they are buying now that the market tanked on the news.


This is what we now have to endure with cryptos going forward. They have ruined the main reason i got into cryptos in the first place, I have also learned that there is really only 1 true crypto BTC. All the rest (very very few exceptions) are centralized and controlled. You can still flip them and make some money or not.

We still have not heard the last of tether, Bitfinex, Mt. Gox, ICOs securities or not etc etc etc. They will play all this and more to their advantage. :)


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