Give me a break, store of value, ha. Bitcoin is about getting the fuck out of a corrupt system that enriches the rich by taking from the poor. Bitcoin's value is an escape from that system and its injustice, end of story. If it happens to go up to an incredible $ amount, making it a store of value, so be it.
The system is fucked, throughout history it has always been fucked. Now, for the first time ever, the common people have an escape from that system. In 10 years time when current amount of bankers fiat has increased 5 million times, Bitcoin will be there. It will be priced high because not being in the system will be worth it.
Shit, your meant to be a legendary member. You should understand this.
Lol, bitcoin isn't an escape for the poor. The only escape for you would be to obtain a skill, that is special and needed enough, so people will pay you good money for your work. If you have done that, then you can educate yourself further on how to become an entrepreneur and how to use your knowledge to build a team, that can solve even more problems then you could solve alone. This isn't easy, but you can't beat Darwin. The poor will stay poor mostly if they are only looking for easy shortcuts to riches. They don't want to learn anything or do anything, they just want to become rich. Some people do win the lottery etc. but the cold hard math tells you that the majority of the "lottery hoping folks" will remain poor till the end of their life. For instance, if you would be educated, then you would see that Bitcoin isn't the savior of the poor. At first, bitcoin value is deflationary, meaning that owning money creates more wealth for you. If you had any basic sense of finance, then you would know that this actually helps the rich, not the poor. Currently it is easy to make money if you have money, but with bitcoin it is even easier. If the currency you are holding is inflationary, then you have to use your money to start new projects and create new jobs, then your wealth also expands. If you do nothing but sit on your fat bank account, then your wealth will start to shrink. With bitcoin, the rich don't have to do anything but sit on their ass while watching their wealth to expand. And the poor, who don't have much to save up on their bank accounts and who work from salary to salary, won't get nearly as much benefit from this system. An escape for the poor doesn't mean they need to be rich dickhead. It means that the rich can no longer screw them financially by rigging the system. The amount of money one has is irrelevant, what is relevant is having a home, food, safety, equal opportunity, and most importantly not being abused by those who are meant to govern in their interest. Of course there will always be people who richer than others, and who gives a shit if the early adopters make a tonne of cash by sitting on their ass. These people being rich doesn't change what Bitcoin is. |
|
|
|
Do you think this bloodbath for today is over?
It seems like market is recovering
nope Between 2018 and 2013 there had been 5 Years. Once could argue that this meltdown could heal in another 5~10 years. But I doubt that. The momentum has been lost, the notation of the currency as a store of value destroyed. Give me a break, store of value, ha. Bitcoin is about getting the fuck out of a corrupt system that enriches the rich by taking from the poor. Bitcoin's value is an escape from that system and its injustice, end of story. If it happens to go up to an incredible $ amount, making it a store of value, so be it. The system is fucked, throughout history it has always been fucked. Now, for the first time ever, the common people have an escape from that system. In 10 years time when current amount of bankers fiat has increased 5 million times, Bitcoin will be there. It will be priced high because not being in the system will be worth it. Shit, your meant to be a legendary member. You should understand this. |
|
|
|
|
OT: but the S&P 500 futures have bounced up about 80 points, could be a buy the dip day on the stock market. Maybe the same will happen for us here.
|
|
|
|
|
The good thing about this drop being so quick, compared to the 2013/14 drop, is that we will be put out of our misery quicker.
|
|
|
|
Look at the volume. Look at it.
It looks pitiful. But is that your point? Beacuse it's eclipsing everything else in the chart? So bearish? bullish? |
|
|
|
Just to be clear, what would be the critical bearish limit before one should really get worried? As indicated by the below stated new lows?
I think that this market is headed well above 20000$ in the upcoming weeks/months, for completeness a possible bearish scenario would imply first a drop down to 7500$, a subsequent reaction to 9500$-10000$ before resuming the fall to new lows...
That's ENKY's analysis , he hasn't mentioned anything since that. Seems he has stopped analyzing the market Does anyone else have any further analysis from where ENKY's analysis stopped, that's if they agree with it. Or do they have a contrary one, because it would seem this bearish trend isn't going away anytime soon? it does seem that way. I think ENKY will post again, but, might be a while, he said he was busy in one of his last comments. Where does Enky post at besides his website? No idea, I figured it was just his website |
|
|
|
Just to be clear, what would be the critical bearish limit before one should really get worried? As indicated by the below stated new lows?
I think that this market is headed well above 20000$ in the upcoming weeks/months, for completeness a possible bearish scenario would imply first a drop down to 7500$, a subsequent reaction to 9500$-10000$ before resuming the fall to new lows...
That's ENKY's analysis , he hasn't mentioned anything since that. Seems he has stopped analyzing the market Does anyone else have any further analysis from where ENKY's analysis stopped, that's if they agree with it. Or do they have a contrary one, because it would seem this bearish trend isn't going away anytime soon? it does seem that way. I think ENKY will post again, but, might be a while, he said he was busy in one of his last comments. |
|
|
|
Just to be clear, what would be the critical bearish limit before one should really get worried? As indicated by the below stated new lows?
I think that this market is headed well above 20000$ in the upcoming weeks/months, for completeness a possible bearish scenario would imply first a drop down to 7500$, a subsequent reaction to 9500$-10000$ before resuming the fall to new lows...
That's ENKY's analysis , he hasn't mentioned anything since that. Seems he has stopped analyzing the market |
|
|
|
|
wall being eaten, still plenty to go though
|
|
|
|
|
I notice he says "The critical level at 7700 does not really matter anymore, because I see that the wave is over."
I'm guessing this means that the 7700 level is unimportant now because it has been hit, meaning that wave 3 confirmed over (also meaning that 7700 was not meant to be the bottom, but just end of wave 3). If this is the case, I presume he means that it can go lower now, and it doesn't mean anything because we are already in wave 4.
I imagine the posts we should now be waiting for are when he thinks wave 4 will end, and at what price point it will end.
Does that sound right to anyone?
|
|
|
|
|
$7800 2000btc wall at bitfinex still there, not pulled yet.
|
|
|
|
Looks like the whole tx spam job by ... jbreher, ... is officially a failed exercise in self-falattio
If you have any evidence whatsoever that I have been in any way associated with a 'tx spam job', then cough it up. Fucking lying asshole. About a 9 on the tension scale there, Rube. |
|
|
|
Thanks for the explanation, that was great help. Only thing I don't understand is the following Or he's protecting those who bought at the previous "dip" to $10K based on his advice since we're heading down much further before finishing wave 4.
He did say wave 4 was complete though right? So surely he doesn't mean we're heading down further, or was he not entirely clear on the wave 4 being complete part? I was under the impression that the red circle on the latest chart represented the bottom that we will never see again, or maybe will only be seen after crash from 100k. Two days ago, he didn't say "complete", but he drew a large red dot in the 61.8% Fibonacci retracement region and said from here we go up. He also said wave 4 is underway. Regarding his comment about bounce back to $13,000-$15,000, maybe something is lost in Google translate or something more subtle. Perhaps a Russian comrade here can help translate, or hopefully ML will clear things up as we approach it. Great, thank you again. You have really cleared this up for me. |
|
|
|
Thanks for the explanation, that was great help. Only thing I don't understand is the following Or he's protecting those who bought at the previous "dip" to $10K based on his advice since we're heading down much further before finishing wave 4.
He did say wave 4 was complete though right? So surely he doesn't mean we're heading down further, or was he not entirely clear on the wave 4 being complete part? I was under the impression that the red circle on the latest chart represented the bottom that we will never see again, or maybe will only be seen after crash from 100k. |
|
|
|
In your opinion where do you think wave 3 would end?
I really like ML earlier analysis, which is also consistent with BETI:
https://www.tradingview.com/chart/BTCUSD/YRZvdurN-The-target-of-current-bubble-lays-between-40k-and-110k/as you can see from this, it all depends on timing. If we go there very quickly, 2-3 months (seems completely unlikely now), it would be "only" 60-70k, if it will take longer, will be 100k or more. I know it sounds a bit like a sci-fi now, but if you believe in bitcoin expenontial netwrok growth/price growth theory, something like that should happen. It is also possible that maturing of the markets will cause flatter peaks and dips, this analysis assumes same relative peaks as in 2013. Anyway, according to exponential growth the "fair price" of btc should be around 13k this August, is around 8k now. So, your saying that wave 3 is still in progress and we will either end up at 40k if we rally quickly and 100k if we do it slower. To me, Seeing as we've had this correction so far it would look like we are heading towards the 100k. But, this correction is much more deep then the one on that chart (14k) so despite this deep correction wave 3 would still be in play? how deep would this correction have to get to show wave 3 is over? |
|
|
|
I hate to say this but at the moment ENKY is looking more accurate than ML. ENKY's last post mentioned that if there would be a drop past the $9500 level it would go down to $7700 then go back to $9500 then into a bear market.
Not looking good guys.
Where does Enky says that? I only found a post where he says 7600-9500 is a support area - is that what you mean? In his last blog post https://btctrading.wordpress.com/I think that this market is headed well above 20000$ in the upcoming weeks/months, for completeness a possible bearish scenario would imply first a drop down to 7500$, a subsequent reaction to 9500$-10000$ before resuming the fall to new lows. This possible bearish scenario would convince me to liquidate all the bitcoins i bought in 2014-2015. As long XBTUSD stays above 9500$ i’m not worried for my long term position. I got the 7700 bit wrong though, should have said 7500 Wow. Reading his blog entries we was wrong a lot. +1, Master has a much better track record than Enky. However, Master's current wave counts seems wrong to me, I mean saying that the historical wave 3 has ended, not its 3rd subwave (i.e. (3)). Can't say I've read his previous entries, only read about ENKY recently since ML had an interest in his analysis. But his last blog entry and comments in that entry have been spot on, so far. Hopefully ML is right though, but, I have heard other people being critical of his wave 3. In your opinion where do you think wave 3 would end? |
|
|
|
I hate to say this but at the moment ENKY is looking more accurate than ML. ENKY's last post mentioned that if there would be a drop past the $9500 level it would go down to $7700 then go back to $9500 then into a bear market.
Not looking good guys.
Where does Enky says that? I only found a post where he says 7600-9500 is a support area - is that what you mean? In his last blog post https://btctrading.wordpress.com/I think that this market is headed well above 20000$ in the upcoming weeks/months, for completeness a possible bearish scenario would imply first a drop down to 7500$, a subsequent reaction to 9500$-10000$ before resuming the fall to new lows. This possible bearish scenario would convince me to liquidate all the bitcoins i bought in 2014-2015. As long XBTUSD stays above 9500$ i’m not worried for my long term position. I got the 7700 bit wrong though, should have said 7500 |
|
|
|
|
big buy wall on finex at 7800. 2000 coins
|
|
|
|
|
I hate to say this but at the moment ENKY is looking more accurate than ML. ENKY's last post mentioned that if there would be a drop past the $9500 level it would go down to $7700 then go back to $9500 then into a bear market.
Not looking good guys.
|
|
|
|
|
Show Posts
