Ok then there is not a very strong relationship between the stock market and Bitcoin. However, if the world goes into turmoil it is certainly not going to help Bitcoin. It is going to crash with everything else.
Certainly could. But look at Gold... it went down along with equities at first in 2008.... then bounced and proceeded to go on the biggest bull run it had seen in decades, all while the stock market continued to flounder. Could Bitcoin do the same? |
|
|
|
To believe in hidden puppet masters that control all politicians is nothing else than some modern and hateful version of religion as there is zero evidence One word: Rothschilds One word: bullshit Neither theory can be proven beyond reasonable doubt, nor can it be controlled, so it hardly matters. But just calling "bullshit" on everything is just sticking one's head-in-the-sand, which is *exactly* what's wrong with society today, and why Average Joes will continually get screwed over until their eyes are truly opened. The Controlling Power Elite will always, always, privatize successes and socialize losses. This is a fact, and is why the rich get richer and the poor get poorer. |
|
|
|
To believe in hidden puppet masters that control all politicians is nothing else than some modern and hateful version of religion as there is zero evidence One word: Rothschilds |
|
|
|
I keep hearing about the election effecting the price of Bitcoin but not which politician will effect the price in which direction
Doesn't matter, whoever wins will be blamed (or conversely given credit) for a big Bitcoin price move, corresponding with a coming World market crash sometime in 2017/2018 (take your pick: equity crash, oil crash, real estate crash, all of the above, etc., etc.) The big market makers just need a plausible story, something to pin it to. We also won't know if Bitcoin behaves like a safe haven (like Gold) vs. an equity/commodity until a World market crash actually happens. |
|
|
|
|
As long as these two things below remain true, I will never believe that China has an order of magnitude more Bitcoin trading than the rest of the world.
1. Whale accounts on Chinese exchanges are definitely owned and operated by the SAME whales on other exchanges elsewhere in the world, so that these whales can coordinate/dominate price action across all major exchanges.
2. If you watch the market's price movements and where prices settle for long periods, they almost always settle just below, at, or bounce off of ROUND/EVEN NUMBER DOLLAR DENOMINATED PRICES. Such round numbers as $500, $510, $600, $680, etc. The point here is, if CHINESE traders were responsible for these price actions, they SURELY WOULDN'T GIVE TWO SHITS ABOUT EVEN NUMBER DOLLAR PRICES from a psychological standpoint, because the Yuan exchange rate is different than the dollar. They would only care about Yuan psychological numbers to affect the Chinese market and other Chinese users/traders.
Conclusion then? The whales are all *American* traders (posing as Chinese ones), and are price setting across all exchanges according to what affects the American market and psyche. Bitcoin is no bigger in China than it is anywhere else, and they are definitely not *leading* anything. If a big market move happens and it starts on a Chinese exchange, that says and means nothing, because an American whale trader likely owns that Chinese account and initiated the move.
|
|
|
|
So get ready to settle in on $699.9999 for a long while, because that's where the FUDster whale(s) wanna take it to. So predictable I could set my watch to this crap.   That is not called settling in, that is called volatility and that is called increased volume, and then we see if one side or the other wins, or if like you are suggesting, there ends up being a $699 truce... Whatever.. there is no inevitability or numerology or any of this other phoney baloney numerology crap that you tend to be inclined to spew out.
REKT - It's called knowing how the whales roll |
|
|
|
I could see the next ATH being preceeded by something like a "Silk Road Flash Crash" to $400 where China completely outlaws Bitcoin and all the Chinese exchanges shut down but then BTC bounces all the way back to $700 anyway within days or weeks. I'm not saying it's going to happen but it would be amusing.
I personally think that you are giving the Chinese quite a bit more credit than they deserve, and I don't really believe that they have as much market mover power as you are making them out to have (though I will concede that reasonable people can differ on this point and still be reasonable, so I am not necessarily asserting that you are being unreasonable in your belief and assertion). You don't fully understand the meaning of this. The point of the silk road crash was that it recovered and proved that Silk Road was not significant like people thought. They were finally ready to go the moon once Silk Road was completely behind them. Or maybe... In Oct. 2013 a big whale(s), armed with insider knowledge that in just 2 months time the U.S. Fed was going to give the "thumbs up" to Bitcoin being treated as a legal commodity instead of a ban, decided to short the fragile market with max leverage to open up a position timed with the Silk Road news. This did two things, 1) set up their long position heavily armed with coins at the lowest market price, and 2) margin call all of the existing longs out of the market. Once they had control of the market, which wasn't too difficult since at the time ~85% of all the exchange biz went through Mt. Gox, they were ready to run up the market to the moon, knowing full well the news from the U.S. Fed in 2 months time was going to be extremely good. And it was extremely positive, pushing the market even higher. Perhaps they were controlling the Willy Bot too. Then at the peak of the bubble, they yell "China bans bitcoin!" while epicly shorting/dumping, catching the dump at ~400, ride the bounce back up to ~900, then 6 weeks later they yell "Mt. Gox is insolvent!" and short/dump again. It was perfect and beautiful. Now paging JJG who's going to condescendingly reply to this and tell me that I'm an idiot, that my theory has no merit, that he's the smartest person here, blah, blah,blah... |
|
|
|
lol bitfinex down for maintenance just during the dump they are ashamed of nothing  how convenient haha close this exchange already In the hours before the planned upgrade, we will be monitoring market activity closely. If the market is relatively calm, we will proceed with the update. However, if the market is highly active, we may choose to postpone the update so as to not adversely affect the market. During this period of monitoring, we will be posting constant updates on whether or not the updates will proceed as expected. Translated: We've planned this for a while, waiting till the market starting moving in our favor. Today's the day. We don't consider a $50 decrease in the rate exchange within hours as highly active. We are BitFinex. Live long and prosper. Also FYI, our going offline suddenly and without warning will freeze your existing margined long positions, allowing the FUDster whales time to push the market down well below your stop. Thus liquidating your long position when we come back online. So sorry for the trouble.FTFY |
|
|
|
So this dip is just because of china banning?
China ban? World, perhaps even Solar System ban? What will the Martians do without their bitcoin? |
|
|
|
So get ready to settle in on $699.9999 for a long while, because that's where the FUDster whale(s) wanna take it to. So predictable I could set my watch to this crap. |
|
|
|
Looks like a typical MatTheCat chart. |
|
|
|
Have you guys considered that maybe there won't be this huge pump, but that we just simply keep grinding upward steadily all next year and into the future? And let me outline below why this would be a GREAT thing: Like Tera suggested, where we are today is very different than 2013. We have many more legit exchanges now, and with the exception of Bitfinex, they've likely all gotten their sh-- together and much more resistant to hacks and outages. I have this theory, that all of Bitcoin's past major rallies were predicated on the pumpers having a "fall" in their backpocket, something that would guarantee a REASON for a crash (so that they could time their big short, of course). In the early years it was spreading FUD about the Bitcoin protocol itself, and hacking/crashing the early shitty exchanges. In Mt. Gox's case, it was easy to just DDOS, hack, or crash that exchange whenever the pumpers/hackers needed to, because it was so shitty and full of holes. And of course they had siphoned off pretty much all the bitcoin and made Mt. Gox insolvent, so the FBI shutting them down was real bad news they could use to their benefit. Then in late 2013, we got to see the effects of a major fake FUD announcement (i.e., the whole "China bans Bitcoin" or "Russia bans Bitcoin" or "51% attack imminent!" garbage). It was effective then, but I think today that fake FUD news would no longer work like it did then because bitcoiners have become resistant to such drivel. So if the pumpers no longer have exchange hacks to rely on, or fake FUD to use, then they would have no guaranteed "fall" in their backpocket. And if they had no guaranteed reason for a crash, then would they be even bother to pump the market to the moon anymore? It would take a LOT of $$$ and margin leverage to pump the Bitcoin market to the moon now. I'm starting to wonder if the pumpers/hackers have simply moved on to the smaller altcoins now, as it's easy to see how these same tactics were used in both the ETH (eg. DAO hack) and Monero (eg. fake hack news) markets just recently with the exact same results. Plus it takes less money to pump the altcoin markets. TL; DR - If Bitcoin ever starts pumping to the moon out of the blue, be very, very worried... because bad news is right around the corner. (btw, I'm still concerned about those ~110K stolen Bitfinex coins  ) |
|
|
|
I love how many bitcoin detractors wanna talk about how wasteful bitcoin mining is from an energy standpoint. But how wasteful is home artificial outdoor lighting each year in just the U.S. alone? http://www.mnn.com/lifestyle/responsible-living/stories/why-dark-skies-matter?utm_source=CNN&utm_medium=Desktop&utm_campaign=Oct2016Some quotes: "The federally funded National Optical Astronomy Observatory (NOAO) estimates that "poorly aimed and unshielded" outdoor lights waste more than 17 billion kilowatt-hours of energy each year in the U.S."
"The U.S. Department of Energy estimates that 13 percent of home electricity usage goes toward outdoor lighting. More than one-third of that light is lost to skyglow — the artificial brightness of the night sky — resulting in about $3 billion wasted per year." So about $10 Billion wasted per year in home outdoor lighting. That doesn't even include commercial and utility outdoor lighting, lol. |
|
|
|
Not to rain on the parade, but.... history is littered with the countless startups, LLCs, and "letters of intent" businesses that John Mcafee has said he would get off the ground, and nothing ever became of them because no one would ever invest real money with him (likely because he is bipolar, paranoid, and crazy). For some reason though, for all his craziness, I still like the guy and his "F--- the Man!" attitude.  |
|
|
|
Lol @ Dafar (aka Mr. Monero) who divested into shitcoins and lost, now he's back full in on btc and just talking his book.  So how's that dwindled BTC stash feeling now Dafar? Meanwhile I've been hodling the whole time, haven't lost a thing. People in "[XMR] Monero Speculation" have been calling me a troll for saying bitcoin was getting ready to demolish the alt coins and for calling XMR's drawn out bear market, and over here I'm "Mr Monero"... lol. I've been out for a while and barely lost anything on XMR. And even if I did, every time I lose any BTC I immediately buy it back to preserve my main stash. So let me get this straight, you were FUDing bitcoin and calming that it was going to $450 while secretly buying and holding?? You didn't listen to your own advice? Riiightt If true that's pretty scummy The truth is, I'm a Bitcoin maximalist now. The only altcoin I ever put money into at one time was LTC, believing that having another cryptocurrency outside of Bitcoin's blockchain might be a good thing. But over time I came to realize that diversification into other alts is silly and all hype driven, because if the business/merchant world every truly embraces a cryptocurrency on a global, macro scale, it'll likely only settle on ONE for consolidation/tax/marketing purposes and B2B transfers. Anything else would get too complex and only serve to confuse users and the markets. And I personally believe that Bitcoin is the only one that has a shot at it right now. So I sold off almost all of my LTC during the last big litecoin rally, traded it back into BTC. I think I still might have like ~40 LTC or so laying around in some wallet somewhere. I've always been a BTC permabull holder. I don't trade and I don't sell, no matter where the market goes. If bitcoin went to the moon tomorrow, I don't even think I would sell then, because I dream of one day paying bills or mortgage payments directly with bitcoin. Yes I'm willing to wait that long, because waiting costs nothing but time. |
|
|
|
Lol @ Dafar (aka Mr. Monero) who divested into shitcoins and lost, now he's back full in on btc and just talking his book. So how's that dwindled BTC stash feeling now Dafar? Meanwhile I've been hodling the whole time, haven't lost a thing. |
|
|
|
I find this steady rise insanely, and I mean *insanely* coincidental to not only getting closer and closer to the U.S. Presidential election result, but also a prelude to turning the corner into 2017, which will likely be the most disastrous that world markets will have seen since 2009. If not 2017, then 2018 will be for sure. A little too coincidental not to be completely correlated. I feel the pressure cooker already building. All I can say is, when 2017 finally comes....   |
|
|
|
And, how do you determine exactly that some of the reserves are not inflated with Tungsten or some similar other kinds of smoke and mirrors?
I agree, exactly. No country is ever going to let a rep from any other country come and personally inspect their Gold vault holdings for complete Proof of Reserve. Never gonna happen. Especially when they are holding some other countries' gold as well. With Bitcoin, it's easy and transparent. If you and only you control the private key(s), then you control the bitcoin. So you either have control, or you don't. And transferring control of Bitcoin is equally trivial. None of this "it'll take another 25 years to repudiate all the Gold back" horseshit. https://www.rt.com/business/336405-germany-gold-reserves-return/ |
|
|
|
Gold will always be the ultimate money. The only but very important advantage of bitcoin compared to gold is that bitcoin is cheaper to audit and provide proof of reserves.
Ummm... bitcoin is not just cheaper to audit and POR, but for Gold it is neigh *impossible* to audit/show proof. Countries can't just call each other's bluff on true Gold reserves (if there even are any) and go take a peek, so everyone is just playing the fractional reserve game of "I'm telling you what we have, so you just have to believe me". Usually at the point of a gun. It's all bullshit, of course. All the supposed Gold reserves backing all the ETFs are long gone. Probably to the private vaults of the Rothschilds, our evil overlords. A true worldwide run on Gold (i.e., physical possession) would come up empty for many large and small investors. |
|
|
|
|
Show Posts
