I think saying "anyone" is a bit misleading. Correct me if im wrong, but you are going to need to invest 25 BTC minimum with this ETF, so it's not designed for the average joe, only for people that are probably millionaires already. Of course, this doesn't change the very bullish news, since the % of millionaires are the % that owns most of the wealth anyway. I recently made a thread analyzing the price of Gold before the ETF and after the ETF, and how it looks exactly as Bitcoin does now right before the ETF, which would coincide and confirm the triple bottom scenario as the definitive bottom before the next big pump. |
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 The similarities are evident, given that we are about to find out of the ETF gets finally approved or not. Perhaps we see a similar evolution in price and this triple bottom could be the definitive bottom before we start the road to $100k. We will find out next month since if im not mistaken around August 15th the SEC should have already decided. It is only sane for fiat bagholders to finally enter the market with some exposure to BTC just in case it skyrockets. If it does and you don't buy waiting for an ideal dip that never comes you may make the mistake of your life. |
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If they have "bought in big" then you will see very big green dildoes happening before they make the press release, because these giants can move the Bitcoin market easily since the Bitcoin market is tiny.
Just a small percentage of exposure would drive the price to $100,000+. There is no way for these giants to get in without it being obvious, unless they spend years buying small chunks to not raise the price up. The question is, have they been buying these small chunks for years now? who knows, but still, the marketcap is tiny, 1 to 2% allocation and we are looking at 6 figures easily, so they aren't in yet unless small amounts.
These players don't enter through the regular exchanges. Exchanges aren't liquid and competent enough. In the more recent times while people have been complaining about no new money entering, I have been pointing out that money isn't entering through exchanges, but through OTC trades. Even if a larger party ends up buying hundreds of thousands of coins, you won't see exchanges reflect that. Miners have been selling directly to private buyers; they don't even have to dump their mint on the market anymore. Private buyers happily pay premiums for their virgin coins. Sometimes huge OTC deals get leaked. If it involves a decent amount of people, there is a risk that someone will get paid to leak the information, this is basic insider trading, someone gets paid, this leaks, and then it ends up having an impact on the market AFTER the deal happens so the people involved in the OTC trade aren't really affected by it. So on a long enough timeline a big OTC trade gets leaked and we will see it on the price. Recently we've seen someone moving 50,000 BTC, speculation is up about it now. |
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So many news for ETF and SEC this week? how can happen after 10 th august?
Basically, an ETF would allow computer illiterate investors to have exposure to the Bitcoin asset. So imagine that your grandma wants to invest in Bitcoin but she has no idea. Well, if an ETF gets approved, then in most banks she will be able to go there, tell them to "buy me X amount of BTC "shares"" and then she will have these sort of shares which represent BTC, which the bank controls for her. This is very incorrect if you want to be specific but it's how most people can understand it. So the fact that it will make it extremely easy for people to have exposure to BTC will attract massive amounts of capital which means very bullish news. All ETF attempts have been declined by SEC thus far. While you answered about the ETF from a different perspective but you forgot to answer the second question mentioned in the subject line. The "effect" part of it. Bitcoin ETF is not useful for main bitcoin market. To be honest, not a single penny from ETF market is going to flow into the bitcoin market. The money invested in ETF is going to stay with the company and the investors will just get the profits and losses from the price volatility. So ETF is not helpful for the crypto market. Well, we will profit from it by seeing an higher Bitcoin price, if anything. We can't stop it, if they want to do it, then they will do it. Just like we couldn't stop Bitcoin futures from being created. They can play around with these things for as much as they want, at the end of the day what matters is if you hold your coins or not. Let them play with non-Bitcoin backed toys and enjoy the price increasing, there's not much else to do. Also apparently this ETF will not be for anybody, it will have a minimum of 25 BTC worth requirement of purchase, so this may be thought with big institutions or just rich individuals in mind, not the average joe. |
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Interesting that we had not seen 5 negative months on a roll from 2011. Will we ever see that again? Is is possible this year? July already might fail and being positive. But we are only half way though. If we have negative July , August and September we would defiantly hit bottom on September.
I don't think we are going to see a 5 month red streak after yesterday's big pump, we may be going for a $10k test as we speak. I don't think we will ever see such a long bear market without any rests again, the market had no liquidity back then, nowadays there are more fluctuations. since one of my iconic goals is the "1 in a million" thing the main conclusion that I can make from this is that back in 2011 I could be 1 in a million with less than 90 bucks but now it costs more than $150k to become 1 in a million  Looking at the -87% crash of the MtGox peak all the way down to $152, and considering we've crashed -70% already.. I don't really see a logical reason for the price to keep going lower. There hasn't happened anything as disastrous as MtGox for it to be justified, so any further dipping would be someone with an interest to trigger FUD so they can buy in lower after you panic sell. You should be dollar cost averaging heavily by now and considering any lower prices as a gift.
exactly. the 70% drop is HUGE. some people don't realize this and just focus on the FUD and repetition of certain low numbers like $3k, 2k,... over and over again as if repeating it can make it true! I have been saying this for a long time that the circumstances of 2014-2015 bear market is very different from now. the market is gigantic compared to then. right now there are a lot of investors dying to come in or come back in since they sold at some point with profit and want to re-invest. with all the adoption that has been happening we can not have a long bear market like last time. It is only a matter of time now that 21 bitcoin costs you more than $1,000,000. There are note enough millionaires if they wanted to own 1, let alone 21, it's simple math. This will happen in the near future, a couple of years max. |
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We just blasted through $7000 with an huge green candle, it's still going up, hitting higher highs right now in Bitstamp, specifically $7546, looks like it will not stop, we are on FOMO mode, something triggered this, perhaps the news of BlackRock getting involved made some people nervous about waiting for that perfect entry point and got pushed back into the market. It's looking good so far. Next stop $10k.
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So many news for ETF and SEC this week? how can happen after 10 th august?
Basically, an ETF would allow computer illiterate investors to have exposure to the Bitcoin asset. So imagine that your grandma wants to invest in Bitcoin but she has no idea. Well, if an ETF gets approved, then in most banks she will be able to go there, tell them to "buy me X amount of BTC "shares"" and then she will have these sort of shares which represent BTC, which the bank controls for her. This is very incorrect if you want to be specific but it's how most people can understand it. So the fact that it will make it extremely easy for people to have exposure to BTC will attract massive amounts of capital which means very bullish news. All ETF attempts have been declined by SEC thus far. |
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Yep not a long time ago BlackRock was calling Bitcoin a toy for money launderers. It's funny how these giants with endless vulture funds hoarding massive amounts of property taking advantage of people that cannot pay the bills go around acting as if they have higher moral grounds. These guys are money making machines and couldn't care less.
For now they are allied with the USD and it benefits them calling Bitcoin a scam for criminals, but once the USD starts cracking and they feel some fears of systemic risk they will look at ways to mitigate this and will not hesitate to buy a bunch of BTC.
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A nice way to visualize how you would have done with dollar cost averaging.  There's also this one to visualize crashes:  Looking at the -87% crash of the MtGox peak all the way down to $152, and considering we've crashed -70% already.. I don't really see a logical reason for the price to keep going lower. There hasn't happened anything as disastrous as MtGox for it to be justified, so any further dipping would be someone with an interest to trigger FUD so they can buy in lower after you panic sell. You should be dollar cost averaging heavily by now and considering any lower prices as a gift. |
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Only posting the address is not gonna help I guess. You need the singed message from Stake your Bitcoin address here topic. If you have not done it before then I am afraid your road is going to be very hard and the worse case will be losing your account for good. If you are the hacker then you can easily change the contents (including BTC address) of the above URLs. So only posting them actually do not prove that you are the real account owner. There is nothing special about that thread. In fact, an unedited post from years ago is worth more than a recent post quoted by someone else. Even better if your old post is in a locked thread since no further risk from a hacker editing it. Any of these would do. OP delivered the proof asked by the mods (valid signature from an address posted in a valid post). Now the ball is on their court, and im afraid the ball will stay there since they can't be bothered to speed up this process. Just another soul lost in the limbo of hacked accounts, forever bumping their own threads to no end. |
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anything below 10% change, specially when it takes a couple of days to be achieved is negligible. it is not a jump, the negative of it is not a crash either. they are simply small price movements that are normal and you can not say it is because of this or that.
Agreed. People tend to get excited easily when they see their charts develop green dildos. not to mention that BlackRock didn't start anything in cryptocurrencies nor bitcoin. they just started having them under observation.
That's how it all starts. As soon as these large players announce that they are ready for it, you can be sure of the fact that they have bought in big. Current 'observation' means very likely accumulation time. They are the largest player in the game they play, they know how to deal with every market in the most profitable way, and they will boost the market later on to make sure you know they are on board. They don't hype up something they haven't bought in themselves.  If they have "bought in big" then you will see very big green dildoes happening before they make the press release, because these giants can move the Bitcoin market easily since the Bitcoin market is tiny. Just a small percentage of exposure would drive the price to $100,000+. There is no way for these giants to get in without it being obvious, unless they spend years buying small chunks to not raise the price up. The question is, have they been buying these small chunks for years now? who knows, but still, the marketcap is tiny, 1 to 2% allocation and we are looking at 6 figures easily, so they aren't in yet unless small amounts. |
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There are two reasons one of these massive wicks can happen:
1) A fat finger. Someone with a ton of money misplaces a comma, which can happen in crypto due the amounts of digits that we deal with. It has happened before without any conspiracy theories behind it other than a mistake.
2) A scam or a hack of sorts: Money laundering, inside jobs.. and so it goes. If the exchange is one of the crypto-only wild wild west exchanges, the percentage of this being the case increases. This may be it in this particular case.
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It just ridiculous how a small news can impact the Bitcoin price (positively or negatively) Can you imagine what could happen to the price if a day someone successfully hacks the twitter account of the Federal Reserve or IMF and start to tweet random tweets like "We're going to move 100% in cryptos, no more USD and EUR."
(BlackRock is a hedge fund right?)
BlackRock are the biggest hedge fund on earth moving trillions worth of dollars. If they are smart they will get on Bitcoin and start stacking big chunks, but most likely they still think in dollar terms so they just want to pump it, then short it later, that's what Wall Street does, they pump whatever they feel like pumping, and then they short it. I doubt they are going to get on it anytime soon. They will need to be forced to do so when they have real fears of a dollar collapse, until then the dollar hamster well continues and they will maximize dollar gains, not anything else. When giants like BlackRock finally get in, it will be obvious in the price. Just 1 or 2% allocation of BlackRock into BTC will pump the price to 6 figures. |
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believe it or not bitcoin market is not yet a gigantic market that 3% rise in it can be considered a "jump"  that much rise is still considered a tiny ignoreable fluctuation within one day. a jump would have been a rise above $7k at least. in case case after googling what "BlackRock" is since i have never heard of it, i don't know how i feel about this news. an investment management company that big entering the scene and thinking about "taking advantage of the market" doesn't necessarily mean good things are coming. we may see hype and a rise for now but i don't know what we will see in the short run from them. BlackRock is huge, so I can see why the price jumped, however, i am not sure how related it is to that. https://www.reuters.com/article/us-blackrock-cryptocurrency/blackrock-is-evaluating-cryptocurrencies-ceo-fink-says-idUSKBN1K61MC?feedType=RSS&feedName&61;businessNews“BlackRock exploring crypto assets comes as no surprise and is definitely a positive development for the crypto market,” said Chris Yoo, a portfolio manager at Black Square Capital Management LLC, a hedge fund focused on the crypto space.
“As the largest asset manager in the world, its interest in crypto assets could be a catalyst for upward price movement and encourage other asset managers, even with more conservative strategies, to seriously explore investing in the crypto space.” Hopefully with "crypto assets" they mean Bitcoin, but it looks like they are ready to waste money on shitcoins: “We are a big student of blockchain,” Fink said in an interview with Reuters. Adding that he doesn’t see “huge demand for cryptocurrencies,” the company has a working group studying it. |
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Looks like we've had a pretty cool run to almost $7000. Poll still open until the end of the month. We really need to get past that $7000 annoying resistance before we start getting excited. These talks of "bottom" and "macd" and "bollinger band" and "rsi" etc etc all are bunch of attempts of making bitcoin look like any other stock or forex currency but you guys are forgetting one important thing. No matter what you do bitcoin is still insanely volatile due to people.
it is true that bitcoin is nothing like other markets and it is volatile but none of the things you said here means "bottoms",... are not true. the thing is you shouldn't be expecting that much out of TA in first place and this is not bitcoin related. if you lower your expectation to realistic levels then you can see how correct they are. we have seen what happened when mtgox trustee sold 44k btc at once.
WRONG. what we saw was not effects of someone selling x amount of bitcoin. what we saw was the effects of the FUD scaring newbies into thinking someone is dumping bitcoin. in reality MtGox was not even selling his coins on the market. google his statements and see for yourself... What I mean is, a person may come up and buy 10k bitcoin at once and get us to 7k or maybe another person just sells 100k bitcoins which would cripple us for a long time. What will happen can not be explained via charts as long as these "one person changing the market" situation stays.
manipulation exists but it is not even close to the big illusion that you have made it to be like. Are you sure? I remember reading how he actually created an account in Kraken to do these dumps and Kraken knew this. Pretty hilarious the level of amateurism of the whole thing. Even if that wasn't the case, the situation has been dealt with very poorly. When will creditors get their damn BTC back? |
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McAfee's most famous prediction is the $1,000,000 one by December 2020. https://bircoin.top/48.7% deviation right now from the expected price. We were %296 ahead of the curve during the $20,000 bubble tho... this is what makes me think his prediction is still not that insane. Until we are -%296 below the curve, his prediction is still safe. There's still a big margin, and many believe the bottom has already been set in, so deviation will go down slowly until the next bull market. Who knows, maybe he is right and we experience some crazy exponential cycles before 2021. |
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Ignoring all the ICO and altcoin scams and focusing on the plausible scenario of Bitcoin as reserve currency and it's interaction with banks by then: I believe banks will still exists, since not everyone is a computer expert to keep their private keys safe. Banks will charge money to keep computer illiterate people's bitcoins safe from hacking and other threats.
I think there will be an huge business there. Banks don't need to necessarily disappear, just adapt, and the field is clear: being custodians of bitcoin, huge market niche there, there will be competition and good alternatives to choose from. One might think this defeats the purpose of Bitcoin, but that's beside the point.
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No, any recent computer (< 10 years old) will do it, as long as it is connected to internet and you launch the Bitcoin daemon or wallet.
I would recommend a SSD as a must these days. The difference from HDD is notable. Also be sure to have a decent amount of RAM. Anything less than 8 GB and you might struggle. Many computers from around 8 years ago still had 4 GB. 8GB minimum is a must. On the CPU front, I've tried with a 10 year old quadcore and it works, given that the hard disk and ram part are covered. Internet wise you also must have decent bandwith and upload speed decent enough to help other peers. |
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Just use Bitcoin Core as a wallet too, but in a separate airgapped safe computer. In an online computer, you run the full Bitcoin Core node, here you have watch-only addresses to see actually how much money you have and keep track of finances. In an airgapped computer, you run Bitcoin Core node offline, and store the keys there for offline raw transaction signing. This is the best possible scenario that I can think. Electrum's seed thing is unsafe due possible key derivation schemes and having your wallet.dat safe is a better alternative unless someone can prove me wrong.
Electrum is by no means "unsafe" in the strict cryptographic meaning of this word, if it was, there would be tons of warnings by experts, like it happened when the last vulnerability was found. If I understand you correctly, you are referring to the vulnerability that requires the knowledge of both master public key and any of the individual private keys. To obtain those keys, attacker would need to either break into the system or use some social engineering to convince the victim to give those keys up, which essentially would mean that any crypto system would be defeated, because they all rely on total secrecy of crypto keys. Realistically, this vulnerability could only be exploited in some big organization when multiple people need to access the same wallet, and someone decided to just give individual private keys from different addresses, not knowing that when combined with master public key, all other addresses get broken. But if someone uses Electrum as their own private cold storage, there's no huge difference in security between it and Core, and this is why Electrum became so popular - it has very good user interface with good functionality, especially for cold storage. I see an huge risk. In one hand it makes sense that if someone manages to get just one private key, it would mean your entire security model is weak, but still, im so paranoid about the fact that all future keys generated forever in your Electrum wallet would be compromised due seed derivation. The attacker may not automatically steal all of your funds (as they would do if they got possession of a classic wallet.dat file), because the attacker may way for a long time for you to create a booty big enough to pull the plug. So as you receive payments and buy more and your stack grows the incentive goes higher for the thief to move funds. We must consider all possible angles of attack. I think it may not be worth the risk, I will stick to wallet.dat, even if it sucks not being able to "have your wallet in your head". |
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