blacky90
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June 13, 2018, 04:37:37 PM |
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you guys think this was the bottom?
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Tyr808
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06/19/11 17:51 Bought BTC 259684.77 for 0.0101
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June 13, 2018, 04:38:36 PM |
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Miners won't let the price fall to 5000. This is only one aspect to the manipulation that’s been going on since September. However if you look at the hash rate, it’s trending upwards, almost parabolically. This is because asic miners are in excess and they can ship them out much faster than last year, when demand was at ATH. Coupled with strange miner confidence in bitcoin which I cannot explain. Even if you ignore hashrate increase, assume miners do not leave bitcoin, and look at the price vs. block difficulty by the end of the year, profitability approaches 0 in all cases from 7500-10000. If miners switch, it can alleviate this pressure, but who will be leaving and who can afford to weather this storm currently? Big farms are more economical than small miners. It seems like an effort to weed out small miners and their coins, while centralizing mining, all while they can make money by liquidating people on longs/shorts. If it wasn’t a manipulated market I wouldn’t believe this, but it seems likely. I welcome regulations and investigations into market manipulation. After all, exchanges are the only ones who can see real volume.
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LFC_Bitcoin
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June 13, 2018, 04:43:34 PM |
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Ok. Here's some despair.
I'm not proud to be asking this question, but...
"Does it look like Doug Polk will lose his bet ?"
I'll bet you 0.1 BTC it does go below $6000. I would not be making that bet right now We are in free fall.
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STT
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June 13, 2018, 04:52:31 PM |
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The smartest bet of all, I will bet 13 btc on it not going to zero. I think I'm hedged on that one, at some point I'm perfectly right either way :p
All kidding aside, I think BTC markets do love to slide to both extremes and of course the whales or however you view exchange volume they want the bigger splash not the indifferent hesitation of a price doing little in either direction which is more risky over time to take part in then catching a wave up or down.
If you want a distraction, I would look at US dollar. With US treasury bond rate yields rising, it should put the pressure on lots of alternative holdings. USD has seen some strength recently, I dont know if the NPK agreement today was helping in forming a positive trend to dollar. Ultimately I think it declines but short term it appears stronger, the peak actually being in early 2017 in anticipation with the reality being deficit spending, weakness, etc.
I dont really rate costs as a determiner of prices, that would apply if we had a relationship of production falling off or increasing on higher prices. BTC doesnt operate like that, like a mined metal would hence bigger spikes up and more volatility then many markets
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Wekkel
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yes
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June 13, 2018, 04:58:12 PM |
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We are in free fall.
Good. Let ‘r rip and be done with this correction.
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Elwar
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Viva Ut Vivas
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June 13, 2018, 04:58:36 PM |
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Countdown to the first story of someone who commits suicide due to the price drop. Morbid and sad, but you know it's coming. If there is anyone out there thinking about it, remember...you have a brain. You can continue to make money in the future. You don't need stuff. Think of it as a fresh start.
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Paashaas
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June 13, 2018, 05:01:06 PM |
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Still in the tripple bottom zone, wost case scenario: $3000-$5000.
We enjoyed the top of the Bull now we feel the pain from the bear same cycle only the numbers are bigger.
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sirazimuth
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born once atheist
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June 13, 2018, 05:07:45 PM Last edit: June 13, 2018, 05:18:05 PM by sirazimuth |
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Gab0
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June 13, 2018, 05:08:58 PM |
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In view of a possible -and extended- cryptographic winter, and the comments and advice that have emerged here about stocking up with enough to withstand the winter, I have the following question arises... how much is enough to live on for a year (mainly considering housing, food , and basic services) in their respective contexts? Other places in the world? I live in Latin America, and I would say that with 10,000 dollars (or even less) one can live comfortably for a year (taking into account that I am young, I live alone, and I consider myself a minimalist person).
I thank you in advance for your answers.
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Speculatoross
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this is not a bounty avatar
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June 13, 2018, 05:10:05 PM |
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mindrust
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June 13, 2018, 05:11:57 PM |
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Phil_S
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We choose to go to the moon
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June 13, 2018, 05:12:25 PM |
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At this point we're kinda close to TERA's $6144 prediction, but I don't think we'll cross it.
I shouldn't have said that.
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Elwar
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Viva Ut Vivas
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June 13, 2018, 05:17:17 PM Merited by BobLawblaw (1) |
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In view of a possible -and extended- cryptographic winter, and the comments and advice that have emerged here about stocking up with enough to withstand the winter, I have the following question arises... how much is enough to live on for a year (mainly considering housing, food , and basic services) in their respective contexts? Other places in the world? I live in Latin America, and I would say that with 10,000 dollars (or even less) one can live comfortably for a year (taking into account that I am young, I live alone, and I consider myself a minimalist person).
I thank you in advance for your answers.
I am currently in Thailand. The 3 bedroom house I'm staying at costs $400 per month in rent. Shared with roomates you could be spending $200 for all of your living expenses and then food would be about another $1-200 per month. Cambodia and Vietnam are even cheaper. I will be going back to Tahiti next week. My rent is around $1300 per month in a house shared with 4 people. Food is incredibly expensive. I usually don't pay attention to prices for food since I don't spend money on hardly anything else so I am willing to spend on the best quality of food. But I glanced at a receipt after going to the store one day and saw that I paid like $20 for a pack of 4 chicken breasts (big organic ones, but still). In the US I usually buy packs of chicken because chicken is so cheap. So I'm definitely spending at least $2k per month there. That's not counting car and expensive gas...I'll likely buy a scooter when I get back.
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Toxic2040
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June 13, 2018, 05:17:55 PM |
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Good morning all. A big day it seems. Lots of speculation happening.. I have three things I think are worth mentioning this morning.. 1. Today the Fed will issue guidance for a interest rate hike. Should be out in a couple of hours but generally positive news is expected. https://www.reuters.com/article/us-global-forex/dollar-mixed-ahead-of-feds-interest-rate-decision-idUSKBN1J902I2. Some interesting data about Tether and its use to manipulate the price of bitcoin and other cryptos. While this seems credible..I would caution that this needs further peer review. Also of note..this is not the best written paper I have seen from an academic. There are several problems with continuity and syntax I spotted right off. ymmv. https://poseidon01.ssrn.com/delivery.php?ID=295096073027113073065090119101116107055064063038093061070012082027073102081003117023041124051002057017044101120072087031100027017010070089022088094094112018087082125059006082106028007000092107024030017085025127109107118017000105108013080026065066096093&EXT=pdf3. I can no longer recommend bitcoin as a buy at this time. While I remain bullish in the long term..short term and mid seem to indicate we are going under 5k. I see nothing on the horizon that indicates a rebound upwards is in the making. While this is probably what is wanted to drive capitulation..I have to report what I am seeing. I sincerely apologize everyone. Being the bearer of bad news I know intellectually its not my fault but it still feels really bad. I will show charts..they all show indicators at the bottom...meaning the price should be heading north. But its still dropping as market sentiment is in control of pricing. 1h 4h D Ok. Here's some despair.
I'm not proud to be asking this question, but...
"Does it look like Doug Polk will lose his bet ?"
- imgs snipped-
Yes. Yes it does Bob. We are all losers today. Ahh..tfw you are wrong before you finish your first cup of coffee for the day.. If it doesn't, I will Jello wrestle you for the amusement of JJG.
Hmm..might be worth propping up the market just to see this...can we get a time frame infofront?
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Elwar
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Viva Ut Vivas
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June 13, 2018, 05:18:24 PM |
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In view of a possible -and extended- cryptographic winter, and the comments and advice that have emerged here about stocking up with enough to withstand the winter, I have the following question arises... how much is enough to live on for a year (mainly considering housing, food , and basic services) in their respective contexts? Other places in the world? I live in Latin America, and I would say that with 10,000 dollars (or even less) one can live comfortably for a year (taking into account that I am young, I live alone, and I consider myself a minimalist person).
I thank you in advance for your answers.
The US is all over the scale. Rural cities can be very cheap. Big cities are super expensive.
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ssmc2
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June 13, 2018, 05:18:45 PM |
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The volume will confirm the bottom and we ain't there yet folks.
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ivomm
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All good things to those who wait
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June 2022: Everyone is depressed that Bitcoin fell from 200K to 60K. Beartrolls gloat, TERA222 is posting on each page that Bitcoins is going back to 30K. Deja vu!
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LFC_Bitcoin
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June 13, 2018, 05:33:05 PM |
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Sick of this shit, just try test me bears! GET THE STRAP !!!!!
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