r0ach
Legendary
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Activity: 1260
Merit: 1000
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May 26, 2017, 07:25:12 AM |
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you know it .. the red phallus will be yuge
and how much do you think the average japanese or korean person is going to care about an exchange they've barely heard of? they might nod and then keep on buying. it's slowly sliding into absolute irrelevance. just for future reference https://coinone.co.kr/chart/?site=Coinone&unit_time=1Dthats a 34% drop )) Korea is used to red candles. Their currency devalued by 50% overnight in the '98 asia currency crisis: The USD will probably have an event like this in the near future where they devalue the dollar vs gold by an astronomical amount overnight. #physicalsilverbitchez
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"Governments are good at cutting off the heads of a centrally
controlled
networks like Napster, but pure P2P networks like Gnutella and Tor seem
to be holding their own." -- Satoshi
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rjclarke2000
Legendary
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Activity: 1358
Merit: 1016
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May 26, 2017, 08:03:06 AM |
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Interesting to drop by very occasionally to see who's around, gone mad, still hodling, etc. I see r0ach has flipped.
My, what a beautiful shakeout we just had. Checking the charts I don't think we could have hoped for a more perfect set up here. Breathing space for a few days somewhere roughly half-way along the parabola.
Couldn't be more pleased with it.
I am totally with you here. Doesn't even feel like a drop
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Stevenirving
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May 26, 2017, 08:28:00 AM |
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Thoughts are it has to rebound. Just bought in with my entire investment budget. So far its up $3!
Everyone who is profiting needs to take a moment and appreciate where we are. No matter what happens. We got here. Nothing feels more validating then seeing $2500 a coin.
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soullyG
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May 26, 2017, 08:34:35 AM |
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Everyone who is profiting needs to take a moment and appreciate where we are. No matter what happens. We got here. Nothing feels more validating then seeing $2500 a coin.
I'm honestly impressed we're even above $2k for any period of time, it seemed so recently it was "moon"
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luckygenough56
Legendary
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Activity: 1526
Merit: 1012
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May 26, 2017, 08:43:54 AM |
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pretty resilient so far, it might still go up after all
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soullyG
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May 26, 2017, 08:50:11 AM |
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Damn, back to $2.6k already, this weekend is going to be interesting
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rjclarke2000
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Activity: 1358
Merit: 1016
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May 26, 2017, 08:53:00 AM |
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We all know it "usually" drops a bit over the weekend so if today is ok can we say 2300 may be the lowest this weekend? Also bank holiday for us here in the U.K. on Monday if we affect the price at all.
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Richy_T
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Activity: 2422
Merit: 2114
1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
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May 26, 2017, 09:00:39 AM |
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Heading up again. If we hit 3k, I suspect we'll get some real media attention and then watch out.
Every day that Bitcoin isn't dead like so many have predicted just consolidates its solidity.
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lost_in_base
Member
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Activity: 84
Merit: 10
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May 26, 2017, 09:11:00 AM Last edit: May 26, 2017, 09:28:57 AM by lost_in_base |
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Ok lets explain what just happened.
We got pumped from 2200 to 2700 just in 2 days. It is 250 a day.
We got dumped to 2200 and recovered to 2600, in one day! That is 400 free recovery with out pump.
Now we will see bull pumping the price again. It will start from 2600 having 500 capasitivity to pump it to 3100 level.
My chips are at 3100, 2 days to gain that.
New all time high may even be seen later today.
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Asrael999
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May 26, 2017, 09:21:17 AM |
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Whats with GDAX/Coinbase... $100+ price difference between the major exchanges.
The exchanges it's quite quick to get fiat to , bitstamp, gdax etc are way ahead of those it's hard to get fiat to btc-e , Bitfinex etc - fiat drought at some exchanges.
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PlanetOfBets
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May 26, 2017, 10:08:39 AM |
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..... Korea is used to red candles. Their currency devalued by 50% overnight in the '98 asia currency crisis: The USD will probably have an event like this in the near future where they devalue the dollar vs gold by an astronomical amount overnight. #physicalsilverbitchez Arbitrage opportunities in South Korea are too much, as we can understand from the graph, we can open accounts from the South Korean stock exchanges. Of course each country has the conditions of stock exchange, maybe Arbitrage is not possible.
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bitserve
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Activity: 1820
Merit: 1464
Self made HODLER ✓
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May 26, 2017, 10:49:44 AM |
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I don't see much problem with it (other than a perhaps over hyped paranoia of how powerful governments are at manipulating commodity prices). You prefer gold and silver. They are decent and historically fairly stable. A pretty safe investment. I do not discourage buying gold or silver. I was actually looking at some gold websites to see if that could be a "like-kind" transfer of my bitcoins if the price skyrockets in bubble fashion and I want to move out for a few months without tax implications.
Just out of curiosity, how would you do that swap from Bitcoin to Gold without it being a taxable event? However, how would I sell my gold back for bitcoins? Where would I store my gold? How can I move it to a new country?
As time has gone on I have realized that we spend a lot of money on protecting our property. We pay police, state governments, national armies to protect our property. Gold requires spending money either through taxes spent on a safe place to live where you can store your gold. It is a constant cost to keep people from taking your wealth.
Bitcoin does not have this cost. No government is required to protect my string of digits and letters. I can hold my wealth without needing a safe, home security system, local police department, national military, etc.
Maybe I can help you with that: Safes are probably one of the unsafest ways to store wealth as they are not really hidden just merely somewhat "protected". Gold can be melted and hidden as if it were some ordinary hosehold item. Also, and as you probably prefer to deal with the original bars my suggestion would be to bury them on your own home. I mean bury in a way that, even if you are forced to disclose where it is at point of gun it will take some time, tools, and a hell lot of noise to unbury (you need neighbours for this to be of any use). That's something you could also do with with other valuable items. You need a home and also you would be leaving it behind on your travels... nothing is perfect. For some of my bitcoins I recently purchased some crypto-steel and stored some bitcoins on those. I just moved from Afghanistan to Korea spending a few weeks in Thailand, Cambodia, Vietnam and French Polynesia. By moving, that meant bringing my crypto-steel with me (not trusting it to some post office). So here I am traveling with these metal squares through various security. I spent about 15 minutes in Dubai trying to explain my crypto-steel to security (I had them wrapped in metalic tape to ensure nobody tampered with them). I finally had to unwrap one enough to show what was inside (I also had full chemical gear so that was part of the inquisition as well....long story). I ended up checking my bag in with the crypto-steel from there on out and was paranoid every minute that they were not in my possession. Every hotel I went to had to have a safe. I ended up in one hotel without a safe and I only left briefly to eat. I ended up using a bus instead of going on airplanes when I traveled due to the difficulty. Flying from Vietnam to French Polynesia I decided to keep the crypto-steel with me to avoid the worry I had before. I had to explain to a Vietnamese security guard what they were, I used pictures on my phone and was ok after 5 minutes (I was surprised when he said "oh, Bitcoin!").
Please tell me you have backups of your cryptosteels and it is not that if they lose, destroy or otherwise take it apart you won't lose access to your bitcoins. I I think it is very funny that you not only are passing cryptosteels on the x-rays... but, COVERED WITH METALIC TAPE?? That's probably the most suspicious item you can carry on except maybe for a GUN or a pack of real explosives lol Also, I have always worried if they could consider that carrying bitcoins in international flights is something that should be declared or not. Probably not, but... If I had as much money as I have in bitcoins, in gold I would be carrying around 100lbs(may be way off) in gold from country to country. I can't imagine being mobile with gold.
That's a hell lot of gold, around 2.5mill$ in value. Exactly the same ammount that this guy tried to cross borders with: http://www.reuters.com/article/us-italy-gold-idUSBRE85H1Q920120618If I had nowhere near that amount in Bitcoins I would start diversifiying *ASAP*. Real state, gold, whatever.... but don't put all your eggs on the same basket. Diversification is key to any long term sucessful wealth.
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Elwar
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Activity: 3598
Merit: 2384
Viva Ut Vivas
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May 26, 2017, 11:19:08 AM |
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Just out of curiosity, how would you do that swap from Bitcoin to Gold without it being a taxable event?
Was just looking into it as a like-kind exchange (IRS section 1031). Doesn't look very promising. Please tell me you have backups of your cryptosteels and it is not that if they lose, destroy or otherwise take it apart you won't lose access to your bitcoins.
If someone got my cryptosteel they wouldn't be able to get the key without knowing the order I put the key in. I still get paranoid about someone getting it and figuring out my pattern. I have a few different backups. If I had nowhere near that amount in Bitcoins I would start diversifiying *ASAP*. Real state, gold, whatever.... but don't put all your eggs on the same basket.
Diversification is key to any long term sucessful wealth.
I will likely diversify once I settle down somewhere. Crypto is ideal for mobility. I should be able to buy some seasteading real estate/stock in the next year. I'm thinking that might be the next big investment. What I won't do is ever let my gains be taxed. I hate funding ISIS with my tax dollars.
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zojav
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Activity: 26
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May 26, 2017, 11:22:43 AM |
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"Diversification is key to any long term sucessful wealth"
Good thing he did`nt take this advise 5 years ago.
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Dotto
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Activity: 981
Merit: 1005
No maps for these territories
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May 26, 2017, 11:29:43 AM |
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Cup'n'handl
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pfrtlpfmpf
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May 26, 2017, 11:32:58 AM |
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2560. now we´re talking. Those little, horny asians, they save my ass every time
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Dabs
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Activity: 3416
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The Concierge of Crypto
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May 26, 2017, 11:34:21 AM Last edit: May 26, 2017, 11:57:27 AM by Dabs |
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I don't have cryptosteels, I will probably make my own version instead of buying one. However, it is a lot easier to pass through any airport with paper wallets without arousing suspicion, and you can probably keep it on your person. The typical bitaddress type of paper wallet has 7 addresses that can fit on standard size A4 or 8.5 x 11 inch paper.
But then, I don't travel as much as Elwar, I've only been to maybe 5 countries in the past 10 years.
*edit* MicroSD cards are also very small.
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European Central Bank
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May 26, 2017, 11:36:20 AM |
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"Diversification is key to any long term sucessful wealth"
Good thing he did`nt take this advise 5 years ago.
yeah. screw that. i'm staying put and waiting to see what happens. nothing else interests me in the slightest. if it all goes down in flames then i can live with that.
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Torque
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May 26, 2017, 11:36:40 AM Last edit: May 26, 2017, 11:59:00 AM by Torque |
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Satoshi was a talented coder, who didn't exactly seem like a visionary in economics and finance. He succeeded perfectly in creating a secure public ledger, that brought forward the idea of innovative and effective financial solutions. Bitcoin isn't a solution itself to any important financial or economic problems. It lacks a proper identity. It's not a proper currency, because it lacks the mechanism of price stability and it's not a proper asset because it lacks much use outside of speculation. It's value is mostly fueled by greed or by financial transactions the need the increased anonymity. I don't think that these things will hold the value high for very long. I see that the future is in development through alts. First we'll see first proper assets, and then in years to come, we'll hopefully also see the coming of a proper currency. Alts have the advantages to bring forward new radical change that is needed to increase the complexity of the system. Alts can bring forward fast development, while bitcoin development is stagnant in even the simplest technical changes.
See, this is the problem with bitcoin, people keep trying to conceptualizing it into this "currency" thing. You're right, bitcoin is not a currency. It's a payment network. To ride on the payment network with a certain amount of fiat value, you have to purchase aka "reserve a ticket" (buy some bitcoin) that equal that relative fiat value. Right now tickets are cheap, so you have to buy more tickets to transfer more fiat value on the network. But as the total amount of reserve tickets available are becoming more scarce by being temporarily removed from the network through rising demand (thus cost value rising for those remaining) and through halving, you'll need less reserve tickets in the future to transfer same amount of fiat value. The amount of reserve tickets are basically limitless. People are buying reserve tickets, not a currency. The power of the Bitcoin network grows with the amount of "reserve power" able to transfer the equivalent fiat value. Of course this only works if fiat value transferred in always outpaces fiat value coming out. Which it should if rising demand > falling supply and fiat purchasing power continuing to fall over time. Of course I'm over-simplifying and discounting miners (i.e., ticket creators) and speculators (i.e., scalpers), but you get the analogy.
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bitserve
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Activity: 1820
Merit: 1464
Self made HODLER ✓
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May 26, 2017, 11:47:55 AM |
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"Diversification is key to any long term sucessful wealth"
Good thing he did`nt take this advise 5 years ago.
I wouldn't have given him that advise 5 years ago. Only when when ONE MAIN investment (which is also of high risk) reaches to a point in which it would be somewhat lifechanging if it failed entirely. Otherwise, not that much need to diversify. Everyone's portfolio is different. For example, I am still diversifying INTO Bitcoin. And yes, sometimes you need to exchange potential profits for lower risks/safety to protect your wealth in the long term.
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