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When I took the garbage out today I hate to wait for the dump truck to finish emptying the dumpster. It's the first time I saw it standing 10 feet away. It's funny how the world gives you clues.
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There are many traders on this forum who would single handedly buy every coin if it went to $1. The only way that would happen is a protocol/encryption disaster making the coin worthless.
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Random Anecdote - 1%'er Edition: Recently wired $500k from an exchange from the sale I did @ $14.5k to one of my financial institutions, and ran into a bit of a snag.
I was looking to wire that $500k to another financial institution that is setting up my retirement package/plan.
Turns out financial institution that I wired the funds to initially, only allows $100k wire transfers out, per day.
"Sheeit."
So I type up a nice pleasant message to customer service, and CC my account manager, and am all like "Howdy folks. I'm preparing for retirement, and going to be moving a lot of money around ahead of that. Can I have my transfer limits increased to $1M per day ?"
Few hours later, I get back a really freaking super chill and nice response back from customer service essentially saying "Hey Bob. First off thanks for being such a great customer for such a long time and trusting us with your fiatcoin. We looked over your account, and yeah bro, $100k is the limit for online stuff. You can walk into any branch and have them do the full wire transfer for you in one go. We just can't do that shit online for security, and stuff, yo."
Duh.
I'll visit the branch on Tuesday and have 'em just wire out the full amount to my other institution.
Banking is such a silly thing.
Biggest problem with Bitcoin is always its interaction with fiatcoin. Poloniex has withdrawal limits and then dont use fiat (although they base the limits on coinbase's fiat prices). |
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Or what if these arent dumps due to FUD but are actually retracements from the pump
Well we know who has gone to Tether. Wrong charts Tera. You need to look at January 2017 not January 2014. Exchanges have been blocking new users for a reason. Look at the mem pool. Look at Kraken. This is adoption. How can this compare to January? January was pre-ATH. This is 1200% over ATH. I dont see any similarities in the chart either. |
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Or what if these arent dumps due to FUD but are actually retracements from the pump
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The final bull trap. The one where you will never recover this price until then the next rally.
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Well first off I dont think you short ever. There is too much risk with liqudiity and loans and bitcoin exchanges that you could get stuck holding a short with an infinite loss to your broker. Also bear markets are prime times for bitcoin exchanges (where you are shorting) to get hacked or dissapear. All of this to make at the very most a 50-99% gain, when you could be trading something else like stocks for bigger faster gains and less risk.
The next crypto winter could end up being very long. The first crypto winter lasted under a year. The second one lasted 2 years. So maybe the third one will last 4 years or longer. However, the loss not might be as great or fast either. Whereas the first crypto winter was a 95% loss, and the second one was a 85% loss, the third one might only be a 75% loss ($5K)
Altcoins are going to take even bigger of a hit than bitcoin. Whereas bitcoin has risen 10,000%, lots of altcoins have risen nearly 100,000% and have much further to deflate. I expect Ethereum to act like litecoin in 2014 which lost 98% of its value. Last time I checked, most Etherum was held by about 20 wallets. And I hope ripple goes back to whatever hole it crawled out of. All this altcoin money, of which bitcoin is only 30% of now, might help to keep bitcoin afloat once people flee alts. If you are going to hold a coin the best one (the one with the least losses) is probably going to be bitcoin, unless you can find a really good rare alt with future developments ahead of it and no pump yet. I havent really done any research on it yet.
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Next up new coin to replace bar tabs and drink credit coins called Ethanoleum. Make sure to stock up on lots of Ethanoleum to get through the bear market.
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finally, a way to monetize all those dick pics
So are all these dicks stored on a blockchain in a permanent irrevocable public ledger? |
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Bitcoin is the not only the first mover but it's also the most tried and true and tested and secure. It's the only coin architected by Satoshi. The other coins have not been as well battle tested and may have vulernabilities. Bitcoin is the oldest coin, which is an advantage in software. Bitcoin isn't static. Old software is not like old hardware - software is a living thing. The large and respectable developer base can upgrade bitcoin and add the features of any other coin at any time. However they have been slow at doing this for the very reason I have stated above. Bitcoin must represent the most secure coin, with only the most secure companents, for financial purposes. And finance is where all the money is right now. If you are looking to put away $10 million, then you are looking at Bitcoin, and don't care about anything else or any other features, and don't mind paying $10 or waiting for a 10-60 minute confirm, which isn't really even needed unless you are sending to an exchange or a merchant. We dont need all the bells and whistles and gimmicks of the other coins if they could in any way jeapordize security.
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So when can I trade Kodakcoin on Bittrex?
Someone will probably release a scam alt claiming to be Kodakcoin too.
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 It's official... |
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It must break 15000 to be truly bullish
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getting sick of these cheesy youtube pump videos 'everyone was talking about bitcoin at the casino today. whats with this bitcoin thing? is it a bubble? well i have 5 cars and bitcoin has risen 10,000,000% and I know these whales and let me tell you what they have to say...'
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I cant understand the grammar in the title. Is bitcoin trading so easy and profitable now that children can just skip elementary school go right to trading bitcoin?
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Once the bear market starts and the whales start dumping, there is no good news in the world that will move Bitcoin. News becomes like reverse FUD. I remember in mid 2014 there was this whole wave of good news and Nasdaq was supposed to list Bitcoin or something and it proceeded to go on from $600 to $150. Honey badger.
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oh i see. on what premise is the specific price target of ATH chosen? Is there some TA behind this?
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Could be a few days of sideways at 14500 before the drop to 8k
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This post title is misleading. I checked the exchanges and the price was still 30% below the all time high. Where is this all time high? Is it on a specific exchange? In Korea?
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I dont have a predetermined number. I exit whenever the TA turns around and then re-enter whenever it crashes on high volume.
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