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Author Topic: The Bullish Bitcoin Media Center (The ONLY Bullish Bitcoin News Thread)  (Read 252759 times)
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dmwardjr
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May 25, 2016, 09:21:33 PM
 #2941

Thank you very much for posting your opinions.  I'm sure others appreciate it as well.

Sorry we got off topic a bit, Fakhoury.

I will respond to your posts properly over the next couple of hours, JayJuanGee.

First, I want to make sure you do NOT purchase ETH right now.  There is valuable information you can get on tradingview.com about most anything involving trading.

I told you I'm a noob in regards to ETH and DAO's.  I've heard [On trading view] DAO's will begin deciding in 2 days what investments/business they will get into, hire contractors for that business endeavor and the contractors will begin to sell ETH for FIAT to fund their business endeavor.  This means we may see a substantial drop in ETH price the next couple of days.  That's when I would consider an entry point.

I just wanted to make sure I did not lead you astray into purchasing now.

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May 25, 2016, 09:55:00 PM
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I sold my 2,300 ETH (approximately 64 BTC worth at 0.0268xx to 0.0275xx + trading fees when purchased on BitFinex) earlier today when I saw it coming back down.  I sold it a tad higher than what I bought it for and managed to only lose 0.2 BTC because of fees.


Since I am new to this thread, I remain a bit uncertain the extent to which Fakhoury tolerates it deviating from its main emphasis, but it appears from the content of your post that each of us are fairly bullish about bitcoin and are not attempting to distract from that perspective in terms of talking about the interplay of other coins (and coin de-jure seems to be ETH... hahahahahaha)

Yes, I'm VERY bullish on BTC.  I'm all about accumulating BTC by whatever means possible.  The main way I accumulate BTC is via other coins.  I used to accumulate BTC via mining.  I had enough capital to pay for my electricity out of pocket all through 2015 and first quarter of 2016.  My plan was to continue accumulating BTC via mining without selling any of it to pay for power.  I wanted to hold on to it to sell for higher returns at a later date.  I also saw this as a means of insuring I met ROI on the rigs I purchased.

Most of those who mine have always paid their power as they go for lack of capital.  They would dump what they needed to dump on the exchanges to pay for power with FIAT from month to month.  I saw that as a losing proposition.  Especially, with $0.102 (10.2 cents) per kWh here in Alabama.

I only have 6 x S7's remaining.  I'm still paying power out of pocket and holding onto the BTC mined.  I determined, even while mining, it is important to stay on top of trading BTC.  A serious miner should not neglect moving their coins in and out with the market for optimal gains.

Personally, I think that whenever we are trading any coins, whether BTC or otherwise, we need to include the calculation of the fee whether we take a position and concerning at what point we exit a position.  Whether you make money or lose money on each trade or overall, those are fairly personal calculations and risks, when going in and out of BTC, whether doing so through fiat or alts.

Totally agree.  My wife is witness to how much I use my calculator on my iPhone to factor in fees for my trades.  That's one thing I love about BTC-e... One can see how much they will spend in fees with their trade without using a calculator.  I'm not sure if BitFinex has that feature.  I have yet to see it.  I've been on BitFinex since January this year.

I do like the ability to trade large amounts on Bitfinex at less a fee than BTC-e.  The larger the trade on BitFinex, the less in fees you are charged.


And, yep, I agree that sometimes it is better just to exit a position at a bit of a loss, rather than continue the risk.. likely gets a bit easier to establish these kinds of trading strategies with more and more experience.

Exactly, it's VERY important to keep our losses minimal and our gains LARGE.   Grin

Yes, it does get easier over time.  I laugh looking back at myself when I first started trading.  I would lose often because of getting caught up in emotions and watching what was going on in the present instead of pulling back and looking at the overall picture of what may play out over a longer term.  I was more caught up in the 5m, 15m and 30m chart and was ignorant of what the 1h, 4h, 1d and 1w could tell me.  I was constantly in and out of trades out of fear and losing little by little mainly for the fees.   Cheesy

That's when I found tradingview.com and signed up.  The people on their are very helpful.  I learned from them and another guy at http://theinnercircletrader.com/Tutorials.htm.  I got the link to inner circle trader from a generous person on tradingview.com.

I still have MUCH to learn!!!  I believe trading is a field we never stop learning.

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May 25, 2016, 10:18:29 PM
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 Also, when I said I'm officially 52/48 in BTC/ETH, that was only on BitFinex.  I also have and trade Bitcoin on Coinbase and BTC-e.  I don't keep all of my eggs in one basket in case one of the exchanges I trade on get hacked.  So, I was 52%/48% into it for trading purposes to make gains and not for any thoughts of it being a legitimate player in crypto.  Not enough time has passed to convince me of that.

Well, fair enough.  Seems like you and I are engaging in some similar practices of distributing some of our funds in various exchanges, and sometimes also we are keeping track of distributions of coins in various regards.  Personally, I have found it quite a learning experience and handful for me just to keep track of my various BTC holdings and potential arbitrage opportunities therein and risk management therein, and I had dabbled a little bit with some other coins, but really I found that I was not really personally ready (nor my BTC portfolio) for adding other coins to the complexity of my BTC holdings - and even in light of my other fiat based financial investments.

It's definitely the way to go [Multiple exchanges].  After Mt. Gox and Stamp getting hacked, it's better to be safe than pissed!   Grin

The only reason I get involved with other coins is to accumulate BTC.  I have yet to find another crypto I can find confidence in for the long term.  So, most of my trades with those alts are with BTC.  I occasionally sell an alt coin for USD and then buy back into BTC with USD.  However, it is rare going that route with the fees is more profitable than just selling the alt coin for BTC.


I'll attempt to give a very summary anecdote to illustrate this point.  I started buying BTC in November 2013, and I bought all the way down, and throughout 2014 and most of 2015, whenever I sold any BTC I replaced them within about 24 hours because I considered that my BTC portfolio was not in a selling position (mostly because it was overall in the red through most of that time).  Since BTC prices remained so low through most of 2015 (mostly in the $200s), I was able to sufficiently acquire an adequate number of BTC throughout that part of 2015 in order to begin to trade in October 2015.  I accomplished this "beginning to trade" position by conceptualizing my BTC portfolio more or less into three divisions:  1) those BTC acquired under $280; 2) those BTC acquired under $380 and 3) total BTC holdings.  Anyhow, initially, I authorized BTC trading only in terms of the first conceptualization, but as BTC prices rose, I was able to increase my authorizations because my average cost per BTC went down and I was slowly able to increase personal BTC trading authorizations.

I found myself doing the same thing back in April through May of 2015 with the LTC pump and dump.  I bought LTC several times on the way up and had to keep up with how many LTC and at what amount to make sure I did not do more harm than good in future trades on the way up.  At least that's the way I approached it while accumulating LTC during the pump.  Once we started having consolidation (small dumps) on the way up, I stopped keeping up with it.  The volume was so heavy and it was so easy to sell the amount you wanted to when needed that I would just sell all my LTC when a small dump would occur and buy back in on the dip when it would begin heading back up.

Pump and dumps with alt coins have to be handled differently from what you were doing with only BTC/USD trading during the bearish trend we had in all of 2014 and most of 2015.  I had that same thing in mind [To keep up with quantity and at what price] in the beginning when I bought in at 0.0065'ish to 0.012'ish on LTC/BTC.  As time passed and I began to see the consolidation moves during our climb up, I made the decision to dump everything on those consolidation dumps and buy back in with all the BTC I accumulated after selling the top before the consolidation dump.  They were 100 to 200 pip moves each time it seemed like.  It was glorious!   Grin

I had a total of 46 bitcoin at the time.  I used 36 of that 46 bitcoin to accumulate BTC during the LTC pump and dump we had last year.  Most may not have been willing to risk that much of their BTC bank roll.  However, I saw what was coming and was determined to capitalize from it without risking everything.

ETH is NOT a pump and dump like LTC was last year at the LTC block halving.  I do believe a form of pump and dump trading will commence with ETH but mainly because of DAO's dumping to gain FIAT for capital in FIAT to conduct business.  Those are the dips I intend to jump in and sell on or near the top of waves.

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May 25, 2016, 10:27:43 PM
 #2944


Yeah, I saw this on Monday when a person posted that link on tradingview.com.  We will get things done a little at a time via soft forks in my opinion.  Core has a hard time coming to a consensus with multiple things.  It's probably best to find what can be agreed upon and implemented one at a time via soft forks to avoid confrontations that can stir up emotions and create division in the community.

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May 25, 2016, 10:34:07 PM
 #2945

What is wrong with this guy? posting useless stories nobody cares

Please get a life. and BTC is doomed

How is life in your parents basement sitting in front of your laptop in your underwear?  Do you have nothing better to do than come on bitcointalk.org to ridicule people who support bitcoin?  I do believe this is the purpose of bitcointalk.org and I believe most everyone else in this thread will concur. 

It appears you need to look in a mirror to see who really needs to get a life.

Go to https://99bitcoins.com/bitcoinobituaries/ and list all the doom and gloom you like.  Maybe someone will listen there.

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May 25, 2016, 10:58:50 PM
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The reason I have half that amount on BTC-e is because it's harder to sell larger amounts on BTC-e than it is on BitFinex and CoinBase.  100 BTC is chump change on BitFinex but considered a damn wall on BTC-e.  

Yeah, it is a bit funny how the dynamics of various exchanges work and I have some coins on BTC-e, Coinbase and some others that are more or less pegged to Bitstamp prices.  I also have some coins on Gemini, Local Bitcoins, Circle and blockchain.info (for direct trading or buying/selling).  I have considered possibilities with Bitfinex and putting coins directly on Bitstamp (and even some other exchanges), but I have not gotten around to it, yet.

I like BitFinex the most.  Mainly for the ease of use and being able to sell large amounts without much concern of an order being filled.  I like the ability to "hide" orders from the order books.  I like the different options for "types" of orders, such as, stops, fill or kill, trailing stops, etc... without using some other trading program, such as, Trading Station, MetaTrader 4 and Ninja Trader.


Yeah, sure.  I agree that your article posting may have been misread and misunderstood, yet your substantive clarification post thereafter seems to show that you are probably more bullish about bitcoin (and certainly more invested in BTC) than the average bitcoiner...  Cheesy Cheesy Wink

Yes, I probably should have been more specific and elaborated more in my first post.

Yes, I'm quite bullish on BTC and maybe more invested in terms of percentage of portfolio.  I feel as long as one stays on top of it to negate heavy potential losses, there should not be as much risk as one might assume.

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May 25, 2016, 11:25:47 PM
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If we were to consider all of my holdings in various places, I'm 40% crypto (All BTC at the moment; I did have some ETH for approximately 10 hours), 8% silver, 15% gold and the rest in FIAT.  I don't trade any stocks but I probably should.  Wish I had bought stock in Amazon this time last year for instance.

You are exactly correct to consider the diversification or lack thereof concerning your various financial holdings.. and you seem to be quite a bit more diversified than a lot of the folks who participate in various BTC talk forums.. But, yeah, everyone has their starting points in terms of investments that may take a while to develop and sometimes it takes a while to redistribute allocations..and sometimes we may need to reallocate on the fly (with some risk).

I feel diversification is mandatory.  Never have all of our eggs in one basket.  

Yes, sometimes we have to reallocate on the fly.  I've only done this one time.  I sold my gold when it was at $1,400 but recently bought 10 ounces again in January.  I bought 600 1 oz. silver eagles back in February from MCM.  Each box has 200 silver eagles with 10 tubes that have 20 silver eagles in each tube.  I took out only one box for the following photo because it is inconvenient to get it out of my special hiding place built just for these 3 boxes in my home.  My gold is in an even more inconvenient to access location.  I find safes to be more of a means of advertising to potential burglars, "Come get me" than an inconspicuous hiding place that's almost impossible to find without tearing up my home.  I have a simplisafe alarm system.  http://simplisafe.com  I absolutely love it.  It's an affordable alternative to wired security systems.  Simplisafe is "wireless."




Of course, everyone's distribution is going to differ, and I have quite a bit in various fiat related investments, index funds, business matters and initially, I had intended to invest (slowly move over a 6-12 month period) up to about 10% of my total quasi-liquid investments into BTC, and then see how it played out thereafter.  So I pretty much accomplished the reallocation through 2014 (which was not really the best time to make such plunge, but whatever), and after BTC prices went up starting in late 2015 and currently, my distribution quasi-liquid holdings seems to be somewhere around 13 to 14% in BTC.  

I'm ignorant when it comes to index funds, securities, derivatives, etc...

Yes, I imagine 2014 was a rough time when reallocating a portion of your holdings in other areas to BTC.  It appears you are beginning to see some light at the end of the tunnel in regards to BTC.


Yeah, each of us are going to make different choices regarding this (diversification), and the extent that we may need to redistribute and at what times and also depending on our timeline.    Maybe 40% in BTC is too risky, yet that seems to be a question that you need to decide and maybe even reconsider from time to time depending on how the various markets play out, and your personal assessment of various markets in your total portfolio.

Yes, of course.  There are times I have sold ALL of my BTC due to an obvious dump and had a very large portion of my holdings in FIAT for weeks.  However, I feel quite comfortable with my percentage of holdings in crypto [Mainly BTC].  I feel as long as one stays on top of it to protect it as if it were their own son or daughter, there should not be much risk as one might think.

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May 25, 2016, 11:45:07 PM
 #2948

You might consider my investment of 40% of my available funds in crypto as ludicrous.  I'm not sure.  I know some people think I'm crazy.  However, I'm CRAZY about bitcoin.  I even mine bitcoin.  I used to mine it rather seriously for a home miner.  I have 400A service at my house.  I had 41 x S7's in my house at one time.  Now, I only have 6 x S7's.  I sold the rest on eBay the second week of March at approximately $820 each on average not including eBay and PayPal fees.  The buyers paid for shipping.  I absolutely LOVE Bitcoin.  I always will as long as it's alive and kicking.  I'm all in [so to speak] with everything bitcoin stands for!  It's part of my being.  My wife is witness to that.  She cannot keep me quiet about it around friends and family.  lol


hahahahaha... you seemed to have adequately described and disclosed your BTC bullish credentials, and sounds like you have quite a bit more investment in btc than me, and a lot of very decent BTC-related experiences that are going to continue to contribute to your insight into BTC and your various BTC trading strategies, whether you diversify into alts or not or use them as bitcoin building opportunities.

 Grin  I do my best to be bullish as possible.  Thanks!  However, as you know, we cannot always be a bull.  The more I think about it I'm probably more often in "short" mode.

Yes, all of this has been a learning experience.  I'm still learning all the time.  I'm about to get more involved with learning about eliot waves (EW) as soon as I get a couple of e-cig stores opened.  I got to get those on the move first.

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May 25, 2016, 11:50:43 PM
 #2949

I totally agree with you about the centralization of ETH and decentralization of BTC.  BTC still rules in my play book and nothing else comes close yet.  ETH has a lot to prove to convince me it can be a real player in crypto.  

Actually, I am beginning to think about ETH a little bit like some kind of potential quasi-centralized system that can be built upon BTC (at some point), that is if it can last long enough and not get dumped into oblivion... At the same time, there is a lot of misleading information that premise the various ETH pump attempts including suggestions that it is Bitcoin 2.0 and that bitcoin is broken... blah blah blah, whatever.

And, actually, I am no bitcoin monogamist because if at any point in time, it seems better to move over to another coin because of better decentralization and immutability fundamentals, then I will do that.  There is no alt coin that is even close to bitcoin in regards to decentralization and immutability fundamentals.

But, yeah, if you merely recognize pump opportunities with ETH and don't get caught up in the bullshit, then there is no problem to take some risk with some of your crypto money or whatever categories of money you want to conceptualize as being within your risk tolerance to put into it.

Well spoken!

As I mentioned earlier.  Other coins are simply a means for myself to accumulate more BTC at this time.  No other coin has shown the resiliance Bitcoin has.  It may take another 3 to 5 years to see another coin prove itself as legitimate (useful).

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May 25, 2016, 11:58:38 PM
 #2950

Thought I would make up for getting on side issues with trading...



http://moneymorning.com/2016/05/25/this-bitcoin-price-prediction-sees-a-2016-rise-to-1000/

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May 26, 2016, 12:00:11 AM
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https://news.bitcoin.com/india-unregulated-bitcoin-thriving/

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May 26, 2016, 12:01:45 AM
 #2952



http://bravenewcoin.com/news/okwave-and-breadwallet-team-up-to-leverage-bitcoin-use-in-japan

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May 26, 2016, 12:04:28 AM
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http://www.resourceinvestor.com/2016/05/25/bitcoin-stays-below-450-how-long

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May 26, 2016, 12:05:50 AM
 #2954


I still have MUCH to learn!!!  I believe trading is a field we never stop learning.

Nice to see your various detailed responses.

No real argument from me on this point.  I will just add that pretty much I have been working out various BTC trading scenarios on paper from the starting of my BTC investment in November 2013 (and I dabbled only a bit), but I really did not begin to hone the application of the theory very well until I actually put the theories into practice in a more heavy duty kind of way starting in October 2015.

So, in essence, how things play out on paper can be a bit differently when attempting to judge what to do during the heat of the moment, when the market moves farther and faster than expected or slower and not as far as expected, and new situations present themselves as well to cause additional learning and even experimentations.

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May 26, 2016, 12:10:11 AM
 #2955



https://bitcoinmagazine.com/articles/bitcoin-in-use-the-arnhem-conference-to-celebrate-bitcoin-retail-payments-1464106592

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May 26, 2016, 12:26:14 AM
 #2956


 
Yeah, sure.  I agree that your article posting may have been misread and misunderstood, yet your substantive clarification post thereafter seems to show that you are probably more bullish about bitcoin (and certainly more invested in BTC) than the average bitcoiner...  Cheesy Cheesy Wink

Yes, I probably should have been more specific and elaborated more in my first post.

Yes, I'm quite bullish on BTC and maybe more invested in terms of percentage of portfolio.  I feel as long as one stays on top of it to negate heavy potential losses, there should not be as much risk as one might assume.

Regarding your first point above, sometimes you may not realize that something is an issue until someone else raises it, and a lot of us are juggling a variety of things, so I think that in the end, you handled it well.. and sometimes preemptively striking is too much.

Regarding your second point above, even though arguably we have had various periods of lower levels of bitcoin price volatility, it really seems that bitcoin is going to remain considerably volatile for several more years into the future, and so various individual investors in bitcoin need to consider these volatility matters in order to better protect their own investment in BTC, which is maybe a bit more work than some people want to employ to buy on the way down and to sell on the way up...   

A bitcoin investor does not need to trade in really high quantities in order to achieve some BTC portfolio protections by buying on the way down and selling on the way up.

There are a couple of ways to lessen concerns about bitcoin volatility:
        1) your bitcoin portfolio moves so far into the green that it does not really matter so much to you if BTC prices change by 10 or 20% or even more.  Personally, I still believe that these kinds of BTC investors can still profit from BTC trading, but I recognize that it is less of a concern when most if not all of the investment is pure profits. 

        2) the market cap of BTC rises to such a degree that manipulation and volatility becomes much more costly to achieve.  This is almost so far into the future that we cannot quite imagine it.  I personally believe we need at minimum about 100x increase in the market cap, but 1000x would be quite a bit safer in terms of lessening bitcoin's volatility.  Yeah, sure I could be wrong, and possibly we could achieve 100x in a couple of years.. though I am thinking 4 years or more would be more likely - if it does occur (I hope to be wrong about my 100x BTC timeline idea, here).

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May 26, 2016, 12:32:26 AM
 #2957

Thank you very much for posting your opinions.  I'm sure others appreciate it as well.

Sorry we got off topic a bit, Fakhoury.

I will respond to your posts properly over the next couple of hours, JayJuanGee.

First, I want to make sure you do NOT purchase ETH right now.  There is valuable information you can get on tradingview.com about most anything involving trading.

I told you I'm a noob in regards to ETH and DAO's.  I've heard [On trading view] DAO's will begin deciding in 2 days what investments/business they will get into, hire contractors for that business endeavor and the contractors will begin to sell ETH for FIAT to fund their business endeavor.  This means we may see a substantial drop in ETH price the next couple of days.  That's when I would consider an entry point.

I just wanted to make sure I did not lead you astray into purchasing now.

Excuse me sir, don't ever be sorry for me.

This is our thread, and I must thank you for reviving the thread again and all who participated in this as well.

Special thanks for JJG.

JJG : I will start posting again my friend, until then, you and all my friends over here are welcomed, again, it's our thread.

Quote from:  Satoshi Nakamoto
Feb. 14, 2010: I’m sure that in 20 years there will either be very large transaction volume or no volume.
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May 26, 2016, 12:50:04 AM
 #2958


I'm ignorant when it comes to index funds, securities, derivatives, etc...

I'm no genius or anything when it comes to investing, and really I have been employing various kinds of investment strategies since leaving high school and then being on my own.  So I have always set aside as much as I could for various investment purposes which has tended to be between 10% and 40% of my income.. and then attempting to invest in various ways.. some paying off better than others, but over the years building up a considerable nestegg.

Maybe a bit more than 15 years ago, I had increased some of my exposure to retirement investments (kind of like 401ks) that are connected with employment, but allows matching and also limits in how much that can be put in.  Then within those 401ks there are limits in how I was able to allocate within them... but maxing them out also was helpful in building funds over a considerable amount of time.




Yes, I imagine 2014 was a rough time when reallocating a portion of your holdings in other areas to BTC.  It appears you are beginning to see some light at the end of the tunnel in regards to BTC.

You know, towards the end of 2013, I was looking into various investment vehicles and reallocating various quasi0-liquid holdings that I had that were freeing up.  In August 2013, I had bookmarked some information about Bitcoin, and I kept putting it off, and then finally when I got around to it, it was mid-November 2013.  That was the first time that I had read anything substantive about bitcoin, and i was quite drawn into the whole idea... I mean really, I took it easy the first 6 months of investing dollar cost averaging low amounts, and then by mid 2014, I became more aggressive.. and anyhow, yeah, it would have been better to have held back a bit more, but who would have thunk (not me)....

But yeah, I am pretty much in the green now, and yet my BTC portfolio has progressed into vary decent places after beginning to trade (but more credit to BTC's price going back up from it's long sustained mid-$200 doldrums).. 



Yeah, each of us are going to make different choices regarding this (diversification), and the extent that we may need to redistribute and at what times and also depending on our timeline.    Maybe 40% in BTC is too risky, yet that seems to be a question that you need to decide and maybe even reconsider from time to time depending on how the various markets play out, and your personal assessment of various markets in your total portfolio.

Yes, of course.  There are times I have sold ALL of my BTC due to an obvious dump and had a very large portion of my holdings in FIAT for weeks.  However, I feel quite comfortable with my percentage of holdings in crypto [Mainly BTC].  I feel as long as one stays on top of it to protect it as if it were their own son or daughter, there should not be much risk as one might think.

I think that we agree on some things, but you seem to be gambling a bit more than what is in my own personal tolerance.  I stagger and so far, and attempt to never go full anything.. too much gambling involved.  I would rather make a lot less and to slowly sell as prices go up (including possibly some larger moves along the way) and to buy on the way down, with possibly some larger moves a long the way....

To me, it seems to be less of a gamble to "work it" incrementally.












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May 26, 2016, 01:00:43 AM
 #2959

Regarding your first point above, sometimes you may not realize that something is an issue until someone else raises it, and a lot of us are juggling a variety of things, so I think that in the end, you handled it well.. and sometimes preemptively striking is too much.

Totally agree.  Sometimes, I have to learn the hard way unfortunately.  However, I'm honest to admit it when I'm wrong and make apologies when it calls for it.  I've done so several times on bitcointalk.org.  Sometimes, it takes more of a man to admit when we are wrong.  I've had to learn that the hard way in the past.  I've found doing so is more profitable for both parties and encourages more profitable discussion for both parties.


Regarding your second point above, even though arguably we have had various periods of lower levels of bitcoin price volatility, it really seems that bitcoin is going to remain considerably volatile for several more years into the future, and so various individual investors in bitcoin need to consider these volatility matters in order to better protect their own investment in BTC, which is maybe a bit more work than some people want to employ to buy on the way down and to sell on the way up...  

Totally agree.  Which brings a point into play you mentioned below:  "1) your bitcoin portfolio moves so far into the green that it does not really matter so much to you if BTC prices change by 10 or 20% or even more.  Personally, I still believe that these kinds of BTC investors can still profit from BTC trading, but I recognize that it is less of a concern when most if not all of the investment is pure profits."


A bitcoin investor does not need to trade in really high quantities in order to achieve some BTC portfolio protections by buying on the way down and selling on the way up.

Totally agree with this statement as well.  This is usually the case for me with BTC/USD trading for me.  Usually smaller amounts with the occasional swing trading.  My trades involving large amounts have pretty much occurred with alt coins (LTC/BTC and ETH/BTC).


There are a couple of ways to lessen concerns about bitcoin volatility:
        1) your bitcoin portfolio moves so far into the green that it does not really matter so much to you if BTC prices change by 10 or 20% or even more.  Personally, I still believe that these kinds of BTC investors can still profit from BTC trading, but I recognize that it is less of a concern when most if not all of the investment is pure profits.  

        2) the market cap of BTC rises to such a degree that manipulation and volatility becomes much more costly to achieve.  This is almost so far into the future that we cannot quite imagine it.  I personally believe we need at minimum about 100x increase in the market cap, but 1000x would be quite a bit safer in terms of lessening bitcoin's volatility.  Yeah, sure I could be wrong, and possibly we could achieve 100x in a couple of years.. though I am thinking 4 years or more would be more likely - if it does occur (I hope to be wrong about my 100x BTC timeline idea, here).

It's hard for me to fall into the #1 category.  Maybe it's my age (49) and concerns about retirement with a desire to take advantage of as many opportunities as possible.  Every little bit over time adds up over time.  Especially, if one considers compounding growth.  If one always traded in small amounts [5% of their BTC bankroll for example] with the majority of trades being big winners with small losses, their BTC bankroll increases.  Which means that 5% of their BTC bankroll on trades is increasing as well.

As for your #2 category; I totally agree with you.  There will come a time where manipulation will become impossible.  Just as hacking the bitcoin network to double spend is not worth it.  As for volatility, I believe that will always be there.

Can you Imagine the following:

If bitcoin was 1,000 x the market cap what it is now, that would be approximately 7,000,000,000,000 USD.  If we were to say we have 17,000,000 BTC in circulation 4 years from now with a 7 Trillion market cap, this would put each BTC at $411,764 USD.

Do you realize it would be common place to have $2,000 USD swings daily with BTC at that amount?  Could you imagine how many people would be on exchanges trading with those kind of swings?  I cannot imagine what kind of stress may or may not be involved with those kind of swings.   Cheesy

EDIT:  The reason I say BTC will always be volatile; I consider $2,000 USD swings volatile.  Yet, the price of BTC is so high, those of us with holdings of BTC in whole numbers and not decimal points will not be as concerned about the volatility.  Those with decimal points would be more concerned.  Those with decimal points would consider $2,000 USD swings as volatile while those with multiple whole numbers will not view it as very volatile.

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May 26, 2016, 01:23:43 AM
 #2960

Excuse me sir, don't ever be sorry for me.

This is our thread, and I must thank you for reviving the thread again and all who participated in this as well.

Special thanks for JJG.

JJG : I will start posting again my friend, until then, you and all my friends over here are welcomed, again, it's our thread.[/b][/center]

Thank you very much for your kindness and friendship, Fakhoury!

You're welcome regarding reviving the thread.  This thread is too valuable IMHO to let it fall to the wayside.  You created a great forum here, Sir.

Thanks for making this "our" thread, Fakhoury!

Kind regards,

David

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