Down we go again..?  |
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Why is the bid side so empty on finex? 4000 coins to drop 70 dollars???
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I am scaled back to 1/3: btc and 2/3 cash in my trading stash. Expect the price to moon as a consequence. Thank me later.
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I don't think the DAO hack is actually good for us. I think it's actually somehow related to yesterday btc dump based on some accumulation indicators, and it could put an end to the recursive crypto hype machine where people suddenly thought crypto was going to replace the world's businesses by the end of the year.
None of that reduces or alters the value proposition implied by bitcoin as a store of value and payment system. It does mean eth is a sell for a bit until the dust settles. The market is fickle. One push into the 8xx range from the Chinese and ethereum and the DAO is forgotten. |
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In your subjective opinion... when does it get high? 25 cents, 50, $1 for one of the smallest transactions you can make?
Since most people in the speculation section are morons, let me explain it for you. Even if you raised the block size to 8MB, that would only allow Bitcoin to have market penetration as a checkbook type device for large value transactions in middle/upper middle class, first world nations of around $10,000 transactions and higher. There is absolutely no fucking room whatsoever on anything that uses a blockchain for microtransactions. Even with 8MB blocks, fees would still be high and you'd only use it for huge transactions. The only people doing transactions on the blockchain will be rich people, or financial entities doing settlement transactions. Anyone not doing high value transactions will be pushed to off-chain solutions, or second tier networks of Bitcoin like Lightning Network where you can do all the cheap microtransactions you want. You will never have microtransactions directly on chain. You will never have cheap transactions while using a blockchain either. They're only suitable for high value transactions. Everyone here knows that raising the blocksize to 2, 4 or 8mb does not solve bitcoin's scaling problems. What it does provide is a can-kick and delay things to allow more mature and well thought out solutions to be implemented such as lightning. This is about providing a network in this moment which can absorb current transaction demand and function to allow new users and increased transaction volume without suffering decreased network performance. Most ardent big blockers would be happy with layer 2.0 solutions eventually. In fact they are a necessity over the longer term. But artificially constraining blockspace now risks a jettison of speculative value to other chains or from crypto entirely. And for what? To allow some developers to keep control of an open source software client? |
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First noticed bitcoin on a zero hedge article in 2012. Set up my blockchain.info account in November 2012 after reading about bitcoin for an entire weekend. I couldn't figure out a way to buy any in the UK and i didn't trust the idea of escrow. By the time I pulled my finger out and started accumulating that way the price was 60 dollars instead of 10 or something and i missed out on a significant life changing payday :-)
C'est la vie! All the chaps who hung in there and used the bear market to accumulate should be pretty happy right now.
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Some people just aren't meant to succeed in life. You have been on these forums for years. You have had YEARS to enter a bitcoin position. You don't even have to believe in it, simply recognise the obvious trend.
One other thing, betting the house on the end of the world isn't a great investment strategy.
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If we assume a 50% retracement of the latest surge then on huobi hasn't completed yet, only making a 68% move. (50% is ~4345cny). On finex we have it is about 650 and we almost touched there today. Difficult to see how much halving rally is left.
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Nice dumps! I was hoping for something more myself. Charts looking awfully precipitous. Just down a bit lower and I can buy in again. Agree lots and lots of 'this user is currently ignored'. |
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Invisible buy wall at 685 on finex.
Should be interesting to see if we pullback at all or hold for more moon after whoever is filling their boots is happy to go up again.
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Maybe it's the halving and miners pumping to maintain income?
In the short term, Bitcoin gonna make a bunch of people richer, but with the majority of those who take a bite of the apple, ending up poorer, just cos this is the way zero sum games like financial asset trading must be. How can this be a zero sum game, when there is only a limited number of bitcoins on one side and an endless amount of fiat on the other ? Cos the aim of the game isn't to be holding a big pile of BTC, but to extract as much fiat from the market as possible. Smart money takes their positions. The market pumps, Smart Money exits and stops supporting the market. The market inevitably crashes. Smart Money extracted from the market 4-5 times more fiat than Smart Money orignally invested. That money had to come from somewhere...thus, the majority always lose. Hence, zero sum game. In a market where the price simply returns to the pre-pump level you are correct. But the bitcoin market cap is growing and with it the wealth of those who hold the underlying asset - in that respect it is not a zero sum game. Minor trading oscillations that you get so perturbed about predicting (impossible) are not what is important. The overall trend is what matters and that is clear to even you as you keep coming back here year after year. (Hint: up). |
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Haha You have to laugh don't you. I've noticed the ETH trolls have crawled back under their rocks, for now any way. As someone who is 90:10 btc:eth I don't agree. Both eth and btc are rallying hard together. In dollar terms eth is at ATH. Bitcoin is driving this rally but do not forget that in 2013 incredible gains in the alts were also obtained as the bubble hit full swing. |
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how many bitcoins do I need to become rich  how many do you guys have , don't be shy That depends on the date. |
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Boom. |
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Is it me or are the troll clones gone? Simply holding seems to have been extremely profitable for me and I hope everyone else on this forum.
Predictions for how high this run will take us before the inevitable pre-Halving dump/correction?
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It is painful to read this thread. Truly car crash stuff from Mat.
Just buy some and do something else for 5 years, Mat. You are not a trader. You are the guy trying to trade microsoft shares in the 1990's and losing money.
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In reference to the $500 break, there is a mention of China in nearly every article. However, before that there wasn't.
It doesn't take Woodward and Bernstein to pull up Fiatleak.  Fiatleak is not useful for determining where bitcoin demand originates. Let's see how far this rally has legs. Making it to 650 would be great. |
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Wow... Bitcoin haters troll fest. What a bunch of losers panicking because of bitcoin appreciation?
Yep. You hit the nail on the head. I don't feel terribly bad about tripling my btc position last year. I didn't feel terribly bad buying eth earlier this year either. Now I only pop into this thread on the off chance there is some interesting discussion and to ignore the latest clones from that idiot. For those who perhaps believe this forum is the zenith of bitcoin speculation and discussion, I would highly recommend http://bitco.in/forum which has an excellent signal to noise ratio and is a completely troll free zone. |
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Tzupy you will never learn.
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