*snip*
Damn dude. Who hurt you? |
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As somewhat expected, since bitcoin and the US stock market in general have been heavily correlated since the past months, they've went down together; whereas gold had a small spike up in price. Unfortunately we're yet to see bitcoin do it's job as a sort of "economic hedge"; hopefully some time in the future. Completely up to you how you're going to use this information. I just find it interesting.
EDIT(October 7): After Trump has announced that stimulus talks will be delayed until after the upcoming election, the markets dropped a bit. Again, market correlation continues. ■ Gold ■ SP500 futures(US stock market) ■ Bitcoin
Previous chart(October 02, 2020): |
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Samuel Reed was apparently already arrested, while Arthur Hayes and company is apparently "at large". There was some rumours from some Twitter personalities last year about BitMEX already being somewhat "observed" by the fed, and up to yesterday everyone(including the U.S. BitMEX users) were being too comfortable with using the platform. And suddenly, BOOM, CTO/Co-Founder suddenly arrested. This news is completely nuts! Wouldn't be surprised if other exchanges(even the spot-trading ones) will come next.
Another reason to not unnecessarily store funds on exchanges, ladies and gentlemen.
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The price of BTC is inextricably tied to the stock market because of the institutional investors that hold and trade a lot of bitcoin.
True. And as we speak, the S&P500 futures is down by -1.60% as of yet(of course it could still change). Unless bitcoin moves in a different direction vs the S&P500, which I totally doubt will happen any time soon, this isn't a good sign for the US stock market and bitcoin in the short term. Though of course I could definitely be wrong, I'm getting cash ready to invest in both asset classes.
EDIT: Created a topic concerning bitcoin, gold, and the S&P500: https://bitcointalk.org/index.php?topic=5279522 |
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I think BTC will be traded around 10k area and go up from here. There will not be 3k price anymore.
Sure. Just like how a lot of people have been saying in 2018 that "bitcoin will not go back down $5000". But what did we get? A Drop back down to $3000 levels. It helps a lot to not be absurdly bullish in this industry.  |
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Bitcoin staying above $10,000 is definitely great and makes it seem a lot more solid, but let's not think that because of this fact that it's going to be impossible for bitcoin to drop below $10,000. This could just give a lot more confidence for people to actually buy and hold bitcoin, but it definitely doesn't mean that people couldn't dump it to oblivion. Let's not forget that emotion is still a huge factor when it comes to pricing bitcoin and the cryptocurrencies in general.
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You do realize that asking to buy bitcoin, litecoin, or almost anything with their past lower prices makes zero sense, right? Why would anyone(probably besides your relatives) sell you anything for lower prices when they can easily sell it for the current higher price?
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They’re going to be looking for alternatives to traditional investments like stocks, bonds etc. This is where bitcoin comes in, watch this space over the next 12-18 months.
Not an expert economist in any way whatsoever, but we can probably assume why the stock markets(at most) are pretty overvalued right now. And since bitcoin has been really closely following the S&P500, I think it would take more than that to grow bitcoin's price in a way that isn't just going to mirror the S&P500. |
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Guys may idea kayo magkano na stocks ng PLDT, GLOBE, and SMART now?
PLDT($TEL): ₱1,339.00 | https://ph.investing.com/equities/phi-long-dis-tGlobe($GLO): ₱2,080.00 | https://ph.investing.com/equities/globe-telecomSMART($TEL): ₱1,339.00 | Same as above since iisang company ang PLDT at SMART. Gusto kung mag invest nito, mukhang maganda, I now it's too early pero kung mag succeed sila, sure malaki ang reward na makukuha natin sa ating investment. At saka may basbas ito ng pangulo, and anything that the president is supporting, supported rin ng mga supporters niya. Dahil worst na ang internet natin sa Pilipinas, hindi naman siyan mahirap makipag sabayan into DITO.
Could be a good investment but just remember na successes aren't guaranteed. Wala pa tayong idea kung gaano kaganda o kapangit ung service nila, so practice proper risk management as always. |
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Good for you guys for being really tolerant for stuff like this. On a bad day, I could probably see myself publicizing their PMs lol. Thankfully I haven't received any spam emails for a while though, so there's that. but it seems to be the mid ranking members that do this.
Now this is the quite surprising part. |
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Taking financial advice from social media shitposts - what could possibly go wrong? If someone would actually buy BTC because of posts like this, it would probably do more harm than good, since they won't know how to properly use it and will likely just store it on exchange, or worse, download a fake wallet.
Pretty much. Especially freakin Facebook? That's literally the last social media site that I'd get financial advice from. At least with Twitter and LinkedIn you actually got CEOs, investors, and finance people in general there, which are A LOT more qualified to be giving out financial advice. |
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I think that OpenBazaar might have faced the trouble of Nintendo's Virtual Boy. It was basically the first VR headset, oriented on the mass market. The idea was great, the implementation has serious troubles. Most importantly, they just did it too early. VR indeed found its audience in the 21st century, but at the end of the previous century the society wasn't ready. OpenBazaar seems like a cool decentralized platform that both implemented decentralization and allowed decentralized payment options (and perhaps only cryptos, no centralized payment options as far as I see). It was too innovative, not perfectly implemented and too early in the world where most are fine with centralized money and markets.
OpenBazaar could be too early, but I think it's mostly that they haven't figured out the UI/UX problem. The masses are a lot more geared towards using the platforms that are easy to use, not necessarily using the best in terms of privacy and decentralization. It's the same exact reason why the masses are geared towards using centralized exchanges like Coinbase and Binance in contrast to non-custodial exchanges like Bisq and HodlHodl. |
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Tether f.e. (handled in BTC) fluctuates exactly the same as bitcoin in USD.
Wait what? I'm definitely not saying that holding Tether(USDT) is the right move, but being completely centralized, it has been mostly $1 with only small rises and drops in cents($0.99 - $1.01). Seriously though, screw "crypto", just hold fiat if you need to temporarily hold something with low fluctuations. For long term though? gold and/or bitcoin. Aaaye thanks for the plug! <3 |
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The question here is what could be the difference of a company holding an Bitcoin for reseve asset than an ordinary man buying holding a Bitcoin?
Completely depends. Depending on how much bitcoin a certain company holds, they may be forced to liquidate the bitcoin if it comes to the point that they need more cash to keep the company running. This is why I find it really risky for MicroStrategy to be holding a huge amount of bitcoin(in contrast to their company's assets and marketcap). But then again, I'm pretty sure their CEO is a hundred times smarter than me so who am I to judge his choice. |
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Yeah, it's definitely been going on longer than a lot of other ones, although Yobit's first campaign went on for a long time, as did Secondstrade's (remember them?).
No, I don't remember Secondstrade.  I guess I wasn't here long enough. True about YoBit, but they've done some shady stuff with their marketing. Thankfully for ChipMixer, it's actually a service that I'm actually proud to promote, which is definitely really nice for my conscience. |
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This was inevitable. Grabe mag rant mga ibang tao sa fb. Businesses need to make money rin. The strategy was pretty much paramihin ng paramihin muna ung mga users nila through their free and seamless service, and then add the fees once heavily adopted na ung service/platform. Same exact thing with Shopee's seller fees since walang fees sa mga sellers dati nung mejo bago bago pa. |
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Still I do believe hackers, scammer and fraud people with high amount of BTC without getting caught are more successful in cryptocurrency. LOL
True. They could potentially be earned a lot more money, but their "success" and their morals are soiled. Being quite interested in the social engineering side of scamming, I'm confident that I could probably do great with scamming, but I definitely wouldn't be able to sleep at night(or live with myself). I'd rather be poor and homeless. As for ChipMixer, didn't know a campaign could last this long to be honest. Safe to assume that this campaign is helping the ChipMixer business a lot hence why it's still running after a couple of years. |
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Wonder what will be the next price four years from the next Presidential debate? could the pattern repeats itself,  I'm betting that it's going to be higher(obviously one of the main reasons why I actually hold bitcoin), but something something past performance is no guarantee of future results. |
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It's because things aren't binary, especially when talking about something as new and as unique as bitcoin.
Bitcoin is being put in the same category as gold because they're similar in a way that both can't be mass printed by will, as how the central banks can do with fiat money. But it definitely doesn't necessarily mean that bitcoin is 100% similar to gold because they're obviously not the same.
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They certainly deserve the applause. However, would you give them support by donating to their address or do you reckon they should stop and accept defeat?
I personally wouldn't because I'd rather allocate my donations to better causes, though I wouldn't suggest against donating to them because they're trying to create something that could potentially be decent; though unfortunately I'm not seeing good signs concerning the likeliness of their success. Ultimately, I think they should keep trying, but they definitely need to step up their game tenfold if they want to survive. |
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