This move is based on US news and is 60% a USD move rather than a BTC move. It not time for ATH and trains yet.
Guess that answers our question from yesterday. I was thinking so hard about how the election would affect just Bitcoin, without even thinking of how it would affect the dollar. |
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This move is based on US news and is 60% a USD move rather than a BTC move. Every forex pair moved 3% or more. It not time for ATH and trains yet.
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All governments hate Bitcoin (the public chain). They are only pretending to be complacent or supportive of it, to keep us off guard and get a foot in the door and get Intel. Meanwhile behind the scenes they are secretly working on breaking it like the Enigma machine and are devising laws against it. Clinton vs Trump doesn't really make a difference, especially if it's China who breaks the code.
China doesn't want to break the code, it has a surplus of electricity it can't use from hydroelectric dams and such like. It's using that cheap electric to mine Bitcoins which get dumped abroad. Bitcoin is subsidizing all those giant electricity generating state projects, it's helping to pay their startup costs. I don't think the Chinese government is involved in mining Bitcoin and the amount of money to be made by mining is very insignificant, compared the country at large and theoretical threat of Bitcoin to capItal controls, surveillance, and the economy if it were to become larger |
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All governments hate Bitcoin (the public chain). They are only pretending to be complacent or supportive of it, to keep us off guard and get a foot in the door and get Intel. Meanwhile behind the scenes they are secretly working on breaking it like the Enigma machine and are devising laws against it. Clinton vs Trump doesn't really make a difference, especially if it's China who breaks the code.
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I would never underestimate the will of the authorities to prolong that Wile-E-Coyote moment for as long as possible. However it does appear that monetary policy is reaching its limits, finally. Which means you either have to pull something really big/unexpected out of the bag (hear the distant sounds of helicopter rotors turning) or bite the bullet. As you say, markets don't do what you expect them to and I can't see how this will finish. My guess is it will be something almost no one saw coming, probably a complication caused by the desperate attempts to keep things going a while longer but one that remains very much in the background until it's too late.
I would want a few BTC hidden away for that day, though, and ideally very little debt.
If we assume that on a Clinton win that markets would rally, stabilize, and even possibly bull run early next year, then I can interpret that as only one thing: That Wall Street believes that she is more sympathetic to Wall Street, Banks, and the Fed, and what she would likely support when the equities/commodities market crash actually happens: MORE stimulus, MORE socialized losses, MORE interest rate suppression.... and MORE GOVT and CORP DEBT. Which is exactly what we DON'T need more of. If interest rates are suppressed, isn't that good for Bitcoin? I seem to remember a Bitcoin crash whenever interest rates were raised or spoken of being raised. |
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I hate stocks. They dont have tradeable trends and they just immediately jump to some target price whenever news comes out. There are no rebounds and corrections. The banks and big guns have everything locked down to a tee. The worst is how they close and gap on the next day when you cannot trade them, plus they can be halted. On top of that, you have to pay extra to get real time data and pay for order books, on a market by market basis.
i have had more success and ease of access with bitcoin over the last 3 years my stock not so good tried to get other stock but could not be bothered with all the fees, brokers, identification, reporting required F@#k the stock markets my auditor was concerned with all my btc, my lost/stolen btc in reporting to the tax agent, but yet astounded at the increase of my investment tried to buy pink diamonds, later decided I would be better off in bitcoin than buying a pink diamond When I did my taxes in 2013 it was a huge mess because I was using many exchanges and doing complex arbitrage using many coins. It would have been impossible to produce an intelligible trading trail and some of the exchanges were even closed. So I just subtracted the grand total of how much I had at the end of the year minus how much I originally deposited. I said fuck it: here I made $xxx,xxx of "bitcoin profit". Take it or leave it. You should be glad I'm paying taxes in the first place. I never got audited for the Bitcoin. Though I did get audited for using $1500 from a Health Savings Account account that I forgot to document... |
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I hate stocks. They dont have tradeable trends and they just immediately jump to some target price whenever news comes out. There are no rebounds and corrections. The banks and big guns have everything locked down to a tee. The worst is how they close and gap on the next day when you cannot trade them, plus they can be halted. On top of that, you have to pay extra to get real time data and pay for order books, on a market by market basis.
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We're talking about an arbitrary person, not a Chinese bitcoin miner.
Also, you don't need to carry bitcoin in anything. You can have them in your mind. You can also transact them to your recipient, or even email them a private key.
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So how do you propose that he goes about sending the $191K via Bitcoin? Does he wire it to Bitstamp with a bank account, and then have his recipient wire them out of Bitstamp? Does he meet someone on localbitcoins with a suitcase of cash? Quote from the article: At that moment, the complaint says, the Customs agents realized that Santos Castillo appeared nervous and that his jacket’s pockets “had bulges.”
After Santos Castillo took off his jacket and gave it to the agents who requested it, they “noticed and removed several white Bank of America money envelopes.”The article insinuated that the man was not a known criminal, not breaking the law, but a business man whose money was legitimate and clearly had a real bank account (Bank of America). So yeah, Trezor, or opening a legit exchange account, something like that. Unless you're trying to troll me for some reason? OK. That's even easier. If it's a legitimate transfer then he can send it in ONE step. 1. Wire the money from his bank account to recipient bank account Rather than with Bitcoin: 1. Wire from his bank account to exchange (subtract fee) 2. Buy bitcoin (subtract fee) 3. Transfer bitcoin, or carry bitcoins using trezor (add/subtract market volatility, plus fee) 4. Sell bitcoin (subtract fee) 5. Withdraw from exchange to recipient account (subtract fee) *various risks of total loss in most of the above steps |
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So how do you propose that he goes about sending the $191K via Bitcoin? Does he wire it to Bitstamp with a bank account, and then have his recipient wire them out of Bitstamp? Does he meet someone on localbitcoins with a suitcase of cash? |
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It looks like there will be a rise in bitcoin since Hitlery is going to win this one with Florida (AGAIN!  ) begin the accusing state to doom the US for 4 more years of devious debauchery with another conniving (unt .  Other posters say Trump would rise Bitcoin. Which is it??? Also apparently every politician is Hitler. I've heard all of them called Hitler, including Trump, Obama and Bernie Sanders. Who is the real Hitler? Which one will gas 6,000,000 people? If Adolf Hitler himself was elected, would Bitcoin rise or fall? Trump's polling correlates very well against different asset classes, either positively (gold) or negatively (peso, stocks). It's not hard to guess how a Trump presidency would affect bitcoin. Bitcoin is not correlated with either one of these asset classes. |
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It looks like there will be a rise in bitcoin since Hitlery is going to win this one with Florida (AGAIN! ) begin the accusing state to doom the US for 4 more years of devious debauchery with another conniving (unt . Other posters say Trump would rise Bitcoin. Which is it??? Also apparently every politician is Hitler. I've heard all of them called Hitler, including Trump, Obama and Bernie Sanders. Who is the real Hitler? Which one will gas 6,000,000 people? If Adolf Hitler himself was elected, would Bitcoin rise or fall? |
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The stock market went down on news of Hillary's fbi investigation at the same time the btc surge happened. When Hillary wins the stock market will go back up and btc will dump. I will quote myself next week when I'm right.
I think it's incorrect to associate btc's recent rally with any current events when you had major bitcoin events like segwit and switzerland happening at the same time. |
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The tech nerds have all contributed a negative amount of money towards bitcoin E.G. they got bitcoin very cheap and dumped most of them at a high price, making money for themselves. The people who are buying Bitcoin now are the friends and relatives of the tech nerds as well as some investors and fintech startups who are betting on a proliferation of Bitcoin within the existing system of banking and commerce, and traders playing the rally. One of the best uses of Bitcoin is to have them on Poloniex to trade altcoins.
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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. Also there was more fear of a fed collapse in 2014 than there is now.
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Bitcoin is still not large and mature enough yet to be a safe haven. It's still a high tech science experiment mostly supported by the permissiveness of banks and governments. It is going to follow the markets - not go against them.
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I would think Trump would be potentially negative for Bitcoin. Bitcoin might not be supported by a republican government. Trump might even ban in because it would interfere with his garnishing transfers to Mexico.
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I'm going to laugh when nothing happens to the price after the election.
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I keep hearing about the election effecting the price of Bitcoin but not which politician will effect the price in which direction
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The first time China banned Bitcoin, it dropped 70%. This is quite an improvement. Like he said, so far this is a routine correction, which I had predicted the night before the news, and the news was a catalyst to set the gears in motion.
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