All rich people are 'normal people', just like the non-rich.

The elites and the media want to brainwash you to think they are somehow special and put them on a pedestal.

Very true. We can be excited for what appears like more adoption and a subsequent price increase. But what we don't ever know is if the current price truly reflects a public buying demand or not. In 2013, it did not. Which is only something that you can see in hindsight, after a downturn and a subsequent bear market begins.

What I do know is that as the Bitcoin market cap gets bigger and bigger, it takes much more money to move the market, even with some leverage available. In the past with the market being so small and illiquid, there was much incentive by whales with deep pockets and massive 100x leverage to PnD the bitcoin market for a few months and then go short.

Now I think the reverse is true, in that there is more incentive for deep pockets to go long (i.e., as a true long investment) because getting a lot of REAL money back out quickly after a lot of buying in for several years would be difficult. The market is spread over so many exchanges now. The mass public can find avenues to buy in easily and quickly. Shorting is getting more dangerous. Plus, Bitcoin has proved itself to have real staying power as a real deflationary financial instrument, and not just an overnight flash-in-the-pan. The public's perception is changing.

Thanks for revealing your deep seated, troll like nature

/ignore

Jamie Dimon: "Ohh I guess we'll allow it.... but but it's still a FRAUD I tells ya!" <grumble grumble>

http://www.businessinsider.com/bitcoin-jpmorgan-might-get-involved-even-though-jamie-dimon-hates-it-2017-11

Still on the silly Tether thing, I see.

Still the hand-wringing and paranoia.

You guys are kinda proving to the FUDsters that FUD still works, ya know that riiight?

I can see that you are new here.

It is never a good time to buy Bitcoin! Haven't you read all the negative MSM articles? Don't you know it is a fraud and a scam? Can't you see that it'll crash any day now?

You should run far away from Bitcoin, and never buy any ever. Especially not right now. It will never benefit your life to hold or spend it. You should always make sure to listen to what the industry experts have to say about Bitcoin, listen to your friends, family, and co-workers, and try not to think for yourself. Do NOT think for yourself! In fact, just follow the crowd sentiment on this one.

And if you do slip up and get a wild hair to buy some, you should dump it almost immediately after it rises like $5 or $10.

You're welcome.


^/s

You may be right, but we don't know if this accountancy firm is on the level.

To this day it still blows my mind that for years now, trusted people like Andreas Antonopolous makes themselves known and available to the crypto world as a trusted independent auditor (who at one point he was even offering this service for free). And yet none of these exchanges will have him come in and do one.

In my mind, that speaks volumes.

It reminds me of Janet Yellen's garbage responses:
Q. "Why won't you let the Fed be audited?"
A. "The Federal Reserve is one of the most trusted and transparent organizations.. blah blah blah...."

Let me help you out a little here.

Mark my words, there WILL be another FUD-driven dump coming. Likely on or before 12/14. Or even shortly thereafter. But there will be another huge dump (likely -30%), and it will try to get people to panic sell. The FUDsters are likely already planting the seeds for this crap. It's probably to help out their Wall Street buddies to get in to Bitcoin by opening big short positions.

There, I said it. Prepare accordingly. Let's all make this the one major FUD dumpage that we all saw coming a mile away.

Now can we stop with all the hand-wringing?

I don't think the market will miss a beat. The FUD is by design, the FUDsters need another reason to short/dump the market and cause another panic. It's getting comical at this point. After every rally, there is always some "magical FUD" that appears out of nowhere and gets everyone all frazzled.

You guys need to chillax. Also, why do you guys consider Bitfinex to be the center of the Bitcoin universe? They suck, everyone knows it, no one trusts them, and hardly anyone I know even trades there.

Maybe some of you guys were too young to remember, or maybe you were in school at the time. But I remember the Financial Crisis of '08/'09 very well. It wasn't my first rodeo either living through a major market crash ('00/'01).

But when I saw all the talk about major financial institutions and banks failing, and talks of massive govt bailouts for the Central Banks, and at the same time all these sleazy, narcissistic banksters were still receiving massive $$$ million dollar bonuses, I knew that this time things really were different. Knowing the old saying about how the world's wealthy elites "Privatize successes and socialize losses", I knew that there was no way in hell that the Powers That Be were just going to let the free market run it's course and wipe out those ill managed financial institutions that the wealthy elites rely on for their wealth, status and positions. I KNEW that they were going to somehow "socialize all of the losses" of these massive bank bailouts, and now ten years later we are seeing the knock on effects of those socialized losses through lack of GDP growth dragged down by mega govt and corp debt, massive money printing, 0% interest rates, and thus lack of wage growth coupled with a significant increase in yearly inflation.

This how they had always planned to spread those losses throughout the population. This was by design. As if no one would notice. Every working man and woman has basically seen their total purchasing power cut in HALF during the last ten years, and their wealth decline, their debts level increase, etc. while the wealthy elites have actually gotten exponentially WEALTHIER during that same period. They never suffered a minute long, and never will. That's why they act so indifferent to what's really happening on the ground to Average Joe. Meanwhile the rest of us have suffered. The elites' paper wealth will also continue to rise, because the Central banks are committed to pumping cheap money into the stock markets pretty much indefinitely and buying up everything. In fact all of the FAANG stocks are in the process of being nationalized by the world banks right under our very noses. The U.S. stock market is in a melt up.

And I believe that it is gradually going to get worse. Over the next decade, GDP growth will continue to be anemic for the major countries, govt and corp debt will continue to balloon out of control, healthcare premiums will skyrocket, entitlements will suffer and start to default, inflation will still creep up at a steady 6-8%/yr rate, and wages will cap out for most of the middle and upper middle class.

The only way to combat all of this is to fight this insidious inflationary, stagnant environment that's going to be with us for some time. To invest in your future. Live a modest lifestyle based on what you can pay cash for. Stay active and healthy. Pay down and wipe out all of your personal debt, and invest like crazy in all of the deflationary assets that you can: Bitcoin, gold, silver, real estate, land, art, collectables, etc. Use it all to build up your wealth, and then diversify to have your money make more money.

Lol. Yeah they'll shut it down eventually, only to replace it with their own one day.

Tether is essentially what USDFedCoin will be when it launches. Both are fractional reserve, inflatable, and backed by nothing.

And Bitfinex is really not getting it if they don't think they have been put on notice for all their scamming. I wouldn't be surprised one day if their office gets raided and someone led out in handcuffs.

Well if the author is being honest and truly believes what he is writing, then this passage really made my year:


What that essentially answers then is what is on a LOT of Bitcoiner's minds like myself: Will Bitcoin be treated like an equity or like a hedge asset (i.e., Gold, Silver, etc.) during another market shock?  Sounds like the latter.

Found a rare unicorn, a positive MSM article.

https://www.cnbc.com/2017/11/20/standpoints-ronnie-moas-predicts-bitcoin-will-surge-another-70-percent.html

Price target raised from $11k to $14k, but doesn't say when. I'm assuming end of 2018.

Super cool and easy


"The analyst sees the price of bitcoin hitting $60,000 in five years."

Yeah, I could live with that... but I'd prefer it in three.  

I have also noticed that major U.S. MSM sites are somewhat radio silent right now on Bitcoin's recent ATHs. They're keeping the public distracted and focused on other nonsense. Highly suspicious.

Now I see where all the trolls and MSM naysayers are getting their sensational doom headlines from.

https://99bitcoins.com/bitcoin-obituary-generator/

Fun to play with!  

Funny:

"Bitcoin's game over is just around the corner"

"The dream of Bitcoin is a joke"

"Is this the Bitcoin's grim reaper?"

My "sell everything" price was @ $1800, but I fell asleep.

Did I miss it? 

LN on mainnet getting closer...

https://www.reddit.com/r/Bitcoin/comments/7e6qjz/lightning_strikes_18_months_early_zap_ftw/

Here ya go: "MFW waking up and seeing the price today..." 

Lol, true.

I learned one major thing during that whole '14-'15 bear market. If/when it ever happens again, just hodl and take a long sabbatical if need be. And buy some on the way down. You'll rarely if ever catch the final bottom.


Oh noes, please don't construe what I said as trading advice. I'm merely voicing my own personal opinion on ETH. I'm sure others here may disagree with me.

Although in the past I've challenged many ETH proponents that have wandered into the Bitcoin Spec forum to show/outline me a long term viable business model for ETH that makes any sense whatsoever.... and they all mumble something about "Smart contracts!" and promptly disappear.  

Warren Buffett basically said, "Never invest in something that you don't understand." and the same holds true for the crypto space. You have to do the research and think through the long term prospect. I DO understand Bitcoin. I don't understand Ethereum. They can't just continue to "fake it until you make it" if the business model doesn't make sense and is not there.

As you read in the other thread about ETH, there isn't any. The ETH camp are clueless sheeple that just follow it because of Vitalik, and don't really want to sit down and think through ETH's bogus, non-existent business model. When you do, you find that none of it makes any sense, either in the short term or the long term horizon. The hype is not warranted.

The reason for ETH's existence is complete vapor. That's why the name is so apropos.