JayJuanGee
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Activity: 3668
Merit: 10066
Self-Custody is a right. Say no to"Non-custodial"
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January 30, 2018, 09:51:45 PM |
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This is reminding me of the $800 phase in early 2014. I'd prefer a violent plunge to rip everyone's baby blue panties to shreds and then we can get down to business.
That's when I started buying so I remember it well. I've thought the same many times. Was the $800 phase in early 2014 - before the February news of the Gox closing, which really $800 phase was short lived and bouncing around in early 2014? I don't know? I was buying from $1,200 in November 2013, and by the time the end of February came and we were floating around in the $600s, and I had spent well over half of my 6 months investment budget in the first three months of my investment, and by the end of my first six months, I had upped my budget by about 15% (in other words, I went a bit over budget in my buying of BTC), but yeah, there was no need to rush to buy up the "bargain BTC prices" because we then had another 6 months of buying opportunity, and then we had another year after that... hahahahaha.. .go figure. Surely, "this time is different" tm. Let's just take the most exponential component of this latest run up from $2,600 in August 2017 to $19,666. That is a 7.5x run up from August to December - 4 months.... yet the previous uprun from $250 has taken more than 2 years.. from October 2015. It just seems too early to call a bear market out of this or to strongly suggest that we are going into some extended drawn out down period from here. I am just not convinced, yet. If we get down below $8k, or even below the supposed $7500 that so many supposed TA experts are calling, then I might start to give greater weight to those kinds of 2014 comparisons... let's see it first.
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AZwarel
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January 30, 2018, 09:59:17 PM |
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Without sounding prudish, in my experience 95% of people has no concept of long term planning, they act on basic immediate emotional impulses - that also explains these panic sell periods - which are so far has been always corrected upwards in the long term. Like, why would anyone, who is in for the long run and trust the principles of bitcoin would sell on a flash crash out of fear? It has been proven many times, that day trading on sudden swings based on fear/greed leads to a net loss for more than 90%+ of the participants (net value gain is in a https://en.wikipedia.org/wiki/Pareto_distribution, hence the long time strategy is hodling). i have found that studying psychology/philosophy of humans are more rewarding in economic endeavours than economics itself...95% might be a bit high, but the gist seems correct. ~50% of people have an IQ less than 100. ~80% under 115. You cannot expect great thinking from the masses, when they are so easily led by kittehs and fake news. There is a reason that change comes from 5% or even less. Logic and Reason are not common. It's terribly difficult to study if you cannot read/comprehend, and many (most?) people cannot. Sadly, i agree, with the addition, that even those who i know has the "hardware" (the 115 iq+) have this attitude of " oh no this is out of my field, i shouldn't". I really like bitcoin, it is a true interdisciplinary subject, where you have to incorporate different fields of study into a single, complex idea. That requires genuine interest to reach knowledge, i think THAT is what missing in the "average". That is why i start to accept the idea, that it is no coincidence, that wealth/creative production capacity/high quality sexual mates etc. are spread in a Paretio distribution. AKA, most people are just too lazy mentally. It is sad, that this major shift in the societal construct what bitcoin offers - just like the internet did to us on a global scale - goes the same way as everything else did before: the curious, mindful, and risk taking are reaping the benefits, and the masses will lag behind as usual. Guess that is why they are the masses
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Globb0
Legendary
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Activity: 2674
Merit: 2053
Free spirit
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January 30, 2018, 10:01:21 PM |
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As many pointed out the timing couldn't have been better. I'll simply hold my coins. During these days I say to myself that 1 BTC is 1 BTC. Our time has yet to come. If Bitfinex and Tether blow up, I just don't care
I would merit this post, but I blew my load Allow me to contribute some shells. To the reload of a gentleman. *tips hat* *edit* Oh and I took the liberty of meriting the original post on our behalf
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d_eddie
Legendary
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Activity: 2450
Merit: 2843
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January 30, 2018, 10:04:36 PM |
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Recently stock market took a couple hits too. Who knows if this is relevant for the immediate future.
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TERA2
Full Member
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Activity: 266
Merit: 222
Deb Rah Von Doom
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January 30, 2018, 10:04:49 PM |
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The strange part about all this is that the possibility to continue to another ATH is still not completely off the chart and could fit the previous pattern..
What would the timeframe for an ATH be though? It would have to occur within a couple weeks. It doesnt look like this is happening...
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gembitz
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January 30, 2018, 10:05:38 PM |
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lol we banned facebook along time ago #richardstallman
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pablito1989
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Activity: 238
Merit: 18
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January 30, 2018, 10:06:02 PM |
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Don't panic sell guys, don't panic sell.. Keep HODLING!
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TERA2
Full Member
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Activity: 266
Merit: 222
Deb Rah Von Doom
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January 30, 2018, 10:07:12 PM |
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Whoever gets the most merits by the end of the year gets Satoshis stash. GO.
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toknormal
Legendary
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Activity: 3066
Merit: 1188
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January 30, 2018, 10:08:25 PM |
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Chief bitcoin troll at University of New York Stern School of Business is enjoying himself.
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Globb0
Legendary
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Activity: 2674
Merit: 2053
Free spirit
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January 30, 2018, 10:11:05 PM |
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Last of the V8s
Legendary
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Activity: 1652
Merit: 4392
Be a bank
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January 30, 2018, 10:11:34 PM |
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I like this new merit system.
It seems to raise the standard of the discussion appreciably. I see a rise in newbie accounts posting well thought-out posts and old accounts thinking a bit harder before they post the first random crap which comes to their minds.
agree. all these deserve it imnvho (ofc Biodom was always a good poster) now for some random crap: welcome newbs and all who work the program
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Wekkel
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Activity: 3108
Merit: 1531
yes
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January 30, 2018, 10:12:27 PM |
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One would think that a professor applies more rigid standards before declaring theory to be the truth. The 'experts', oh well
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Torque
Legendary
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Activity: 3528
Merit: 5033
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January 30, 2018, 10:13:12 PM |
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Chief bitcoin troll at University of New York Stern School of Business is enjoying himself.
Good lord that guy is completely fixated on Bitcoin. No doubt that he's a central bankster puppet.
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Torque
Legendary
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Activity: 3528
Merit: 5033
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January 30, 2018, 10:27:44 PM |
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Recently stock market took a couple hits too. Who knows if this is relevant for the immediate future.
So the bond market sold off today, the U.S. stock market sold off 1%, AND Gold and Silver got hammered, AND crypto got FUD'ed. All on the same day, at the end of Jan? When some of those things should be inversely correlated?? Yeah, makes perfect sense. Expect all markets to continue bull run.
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conspirosphere.tk
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Activity: 2352
Merit: 1064
Bitcoin is antisemitic
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January 30, 2018, 10:45:51 PM |
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So the bond market sold off today, the U.S. stock market sold off 1%, AND Gold and Silver got hammered, AND crypto got FUD'ed. All on the same day, at the end of Jan? When some of those things should be inversely correlated?? Yeah, makes perfect sense. Expect all markets to continue bull run. A question is how the USD going down the drain plays out in all this. https://www.investing.com/quotes/us-dollar-index-streaming-chart
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Lopumbo
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January 30, 2018, 10:47:13 PM |
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is it true that withdrawals are disabled on bitfinex?
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toknormal
Legendary
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Activity: 3066
Merit: 1188
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Don't really know what point you're trying to make Globb0. The point I was making was that when an entire asset sector has a single entity like Tether in its midst that's capable of bidding up the market at will with limitless supply, that is a toxic situation. That isn't the case with "pure crypto" assets like BitUSD. Their supply is not created arbitrarily out of thin air and is always market backed which is why you occasionally get those spikes you're pointing out. The reason is stays on its peg is that when it spiked down like that there is a huge market gain to be made for traders taking the long side in order to restore the peg (which is exactly what has happened since that dump occurred. See current price):
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Dakustaking76
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January 30, 2018, 10:53:37 PM |
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Guys we have new ath €7900 hitted kraken fiew hours ago
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FractalUniverse
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January 30, 2018, 10:56:56 PM |
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is it true that withdrawals are disabled on bitfinex?
I dont know about today, but i made btc withdrawal on sunday. So far every withdrawal worked without any problems. Im surprised how nearly everyone here seems to be switching to panic mode
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El duderino_
Legendary
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Activity: 2464
Merit: 11778
BTC + Crossfit, living life.
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January 30, 2018, 10:57:38 PM |
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Just arrived after 10 hours to see a +- 1k drop :-( stop shaking the three allready
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