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2023
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 04, 2017, 01:14:36 AM
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If you think that Bitcoin is just a currency, you don't know what you're talking about. Cut the analysis bullshit and go back into your metal bagholding forums. You can't sell me such stories.
I guess you did not get the hint when they named it cryptocurrency instead of....cryptomoney. It is a currency; it's not money. Currencies are generally always a bad investment on a long timeline and there is no reason to own them unless you actually use them. Once the market cap tops out, whether that's at $1200 a coin, $200 a coin, or $10,000 a coin, everyone who was attempting to use it as a store of value is going to flee the ship to the base of Exter's pyramid (metals) since they are a superior store of value, while the only people that continue to hold coins will be the people who actually use it as a currency. The number of people using it as a currency will obviously be factored by it's throughput (TPS). To have a high market cap as a currency, TPS would probably have to be drastically higher than it is now with something like a functioning LN and 5000 TPS. At that level it could probably float a large market cap as a payment processor, but I do not see a currency functioning well at low TPS with 1 MB blocks and no segwit or LN since low TPS is counterintuitive to how a currency is supposed to function (high turnover, not based on being a store of value or generational investment). Spot on analysis. Bitcoin isnt even a commodity, ergo can never be money. It has no use outside a medium of exchange, all you can do with a btc is dump on the next greater fool lol (not that i mind the pyramid-like profits, ill just make sure i turn them into tangible assets at some point). ... looks like jstolfi and cohort sockpuppets have shown up again, shiny new nyms and everything. Har har...you're so proggy, man. Can i be an SJW like you ? must feel pretty shit for you and roach to get cucked by the raging bull bitcoin, such a gimped currency and still crapping all over gold and silver? You cucks might have to spend a night (or two?) spooning to make each other feel better? Put a roll of gold coins in there to warm yas all up too maybe? |
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2024
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Economy / Speculation / Re: Analysis
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on: March 04, 2017, 01:11:10 AM
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I'm actually still reading it. I skimmed over it quickly when I saw it and decided it was worth reading. I just wanted to get it here to this forum for others to read while I'm reading it.
Lots of good and valid points too, but the mind set feels a little 2013 to me overall in terms of perception of market maturity. I'm sure it is still being gamed and ravaged like mad, but something outside the bubble the same old suspects are locked in is brewing. I read that thing and want those 15min back. Imo its crap. glad someone else said it first ... but phew, I started reading and then skipped a bit, skipped a bit more faster and skipped straight to the conclusion ... he could have just said "i think bitcoin is going down" in a tweet ... or what did I miss? |
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2025
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Economy / Economics / Re: Martin Armstrong Discussion
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on: March 04, 2017, 12:19:12 AM
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I think it's becoming pretty clear that the roach is the troll formerly known as jstolfi returned in another guise.
The whole rabid foaming-at-the-mouth nazi ruse and bitcoin banger to win his creds was quite well played, a long game troll. But still a nasty troll.
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2026
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 04, 2017, 12:14:04 AM
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If you think that Bitcoin is just a currency, you don't know what you're talking about. Cut the analysis bullshit and go back into your metal bagholding forums. You can't sell me such stories.
I guess you did not get the hint when they named it cryptocurrency instead of....cryptomoney. It is a currency; it's not money. Currencies are generally always a bad investment on a long timeline and there is no reason to own them unless you actually use them. Once the market cap tops out, whether that's at $1200 a coin, $200 a coin, or $10,000 a coin, everyone who was attempting to use it as a store of value is going to flee the ship to the base of Exter's pyramid (metals) since they are a superior store of value, while the only people that continue to hold coins will be the people who actually use it as a currency. The number of people using it as a currency will obviously be factored by it's throughput (TPS). To have a high market cap as a currency, TPS would probably have to be drastically higher than it is now with something like a functioning LN and 5000 TPS. At that level it could probably float a large market cap as a payment processor, but I do not see a currency functioning well at low TPS with 1 MB blocks and no segwit or LN since low TPS is counterintuitive to how a currency is supposed to function (high turnover, not based on being a store of value or generational investment). Spot on analysis. Bitcoin isnt even a commodity, ergo can never be money. It has no use outside a medium of exchange, all you can do with a btc is dump on the next greater fool lol (not that i mind the pyramid-like profits, ill just make sure i turn them into tangible assets at some point). ... looks like jstolfi and cohort sockpuppets have shown up again, shiny new nyms and everything. |
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2029
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 03, 2017, 12:26:17 AM
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I did help a friend buy some in 2014 at $600, who sold at just over $200 because he couldn't stomach the drop. Never again.
I considered recommending it in the $200s, but thought better of it. Most people will hold a hidden resentment against you if it drops, and their loss will become your burden. ... and it can be even weirder than that. Many people will also resent you if you recommend a winner and they don't buy and it goes up ... basically any time you put yourself in the situation of "i'm right, you're wrong" or "i'm wrong, you're right" and there's financial advantage involved, they will resent you ... it's lose-lose. Strangely, if you charge them exorbitant fees and call yourself a "financial adviser" all that burden goes away and you can gamble with their funds like a drunken sailor. |
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2031
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Economy / Speculation / Re: Gold Price Parity Watch
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on: March 02, 2017, 10:55:37 PM
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Ok, I think that's a wrap ... mission accomplished, all a bit anti-climatic in the end. It's just a stupid arbitrary psychological price point after all i guess.  Might just leave the thread open for a while until we leave it well behind in the rearview mirror. |
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2032
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 02, 2017, 10:53:30 PM
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None of my friends have mentioned bitcoin to me recently.
Now...these are the friends I was boring back in 2013/14 about it and when the shit hit the fan and it dropped to $200 I bought them all up. My friends know this.
This has all happened and not one of my mates has asked or text me about bitcoin.
Is this because:-
A. They all know the price now and don't want to talk about it as they feel sick knowing they laughed and made jokes.
B. They haven't even heard the news as the media have hardly reported on it.
C. They hate me and never liked me in the first place bitcoin or no bitcoin.
haha same here. I entered in bitcoin world in nov. 2013, and bought my first bitcoin on the top. Ande then lost in cuz I've been goxed. But then I was more cautious, bought almost all of my stash at 200$. Now all of my friends and family regrets that they didn't invested back then. And some are asking me to invest their money now  And I'm like: Really do you want to be the fool who buys on the top and sells at the bottom? And they still want to invest... Ask them if the price drops, at what price will they decide to sell. Like if it drops back to $200 are they going to sell. If they say yes then tell them they have to be prepared to ride it ALL THE WAY TO ZERO without selling. If they're not ready to do that, I would say I won't help them because the only certainty is that it's going to be VERY volatile. I did help a friend buy some in 2014 at $600, who sold at just over $200 because he couldn't stomach the drop. Never again. Bitcoin is a lot like the movie 'Fight Club'. The First Rule of Bitcoin is: You do not talk to friends, family, or colleagues about Bitcoin. The Second Rule of Bitcoin is: You do NOT talk to friends, family, or colleagues about Bitcoin!!! What's the secret handshake these days? |
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2033
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 02, 2017, 10:48:11 PM
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I will sell when:
1) rpeitila announces the renovation of his castle
2) Goat buys a new car
Confirmed ... usually the major exchange/web-wallet/centralised service of the time has some kind of seizure also, hack, withdrawl limits, freeze on trading, etc ... as it ever was. I'm seeing $1280 resistance, ~$1250 support ...  ... not bad. |
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2034
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 02, 2017, 12:43:19 AM
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^^ Not sure which planet you've dropped in from .... but bitcoin has been shitting all over gold in annual returns for 7 out of 8 years of its short existence. You're beloved Central Banking scumbag friends have made gold their bitch for the last century, so i guess you've got that going for it  You're farting against the thunder of a historical change in humanities conception of money. You didn't refute anything I said and just posted the equivalent of a bitcoin bumper sticker. ... You're quite right, I didn't refute anything you said ... because I didn't read anything you said beyond Jim Rickards-gold-buggery-blah-blah ... "gold bumper sticker goes here". Don't get me wrong I like gold, I've been long gold and silver since 1996, the famous Goat got his gold high school training wheels from the mother-of-another in ye old kitco forum ... ... but time to move with times, gold has it's place, in history mostly and bitcoin is the future. |
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2035
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 01, 2017, 11:53:54 PM
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^^ Not sure which planet you've dropped in from .... but bitcoin has been shitting all over gold in annual returns for 7 out of 8 years of its short existence. You're beloved Central Banking scumbag friends have made gold their bitch for the last century, so i guess you've got that going for it You're farting against the thunder of a historical change in humanities conception of money. |
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2036
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 01, 2017, 10:56:18 PM
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And if this puzzle goes like this: ETF Approval, Europe Crisis gets bigger... etc then maybe we need buy plots to the moon already...
You forgot to add March 15th to that list. This year will be fun times to watch.. March 17th St. Patrick's day ... gonna be yuge party for the Irish leprechaun BagHodlers, to be sure, to be sure.  Everybody seems to be forgetting SolidX ETF approval on March 30 (... be careful which ETF you wish for, would be tragic if Winkles got rejected and SolidX got accepted and banksters would luv the irony and cash-spinning volatility of that mess) |
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2038
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Economy / Speculation / Re: rpietila Wall Observer - the Quality TA Thread ;)
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on: March 01, 2017, 10:39:51 PM
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Does anyone think Bitcoin can hit $10000 during this run?
Not quite, $9588 is the current target top. Since base low beginning of the run ~$200-225 took 12 months to double to $400-450, 6 months to double again to ~$800-900. If the run continues on the current exponentially 'doubling in half-the-time' basic metric, we're looking at ~ $1600-1800 by end of March (3 months to doubling). 6 weeks after that $3200-3600 for mid-May and 3 weeks after that $6400-7200 early June and final blow off by July ~$9588 ... almost exactly 1 year after the halving in supply that precipitated the run to a new equilibrium pricing (wherever that maybe after the inevitable correction, $3200?). |
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2040
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Economy / Speculation / Re: GBTC Bitcoin Investment Trust Observer
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on: March 01, 2017, 10:26:01 PM
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We might break negative on the premium soon. Watching the intra-day price moves today it touched something like 1.65%.
This seems extreme, especially since premium has been so high in the past (up to 80% wasn't it?). Any ideas what's going on here, I know ETF is muted as a reason but could it be something else also? |
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