Lowryy
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Activity: 32
Merit: 5
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December 18, 2018, 02:50:17 PM |
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Get ready for the January dip.
Kinda like the november pump that never came? Statistically insignificant
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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sam_ti_dyatel
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December 18, 2018, 02:59:18 PM |
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Hard to believe the bottom is in, without a high volume daily bar ala jan '15.......likely, the last bull trap before capitulation
sounds like disbelief, maybe capitulation was from 6k
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birr
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December 18, 2018, 03:09:05 PM Last edit: December 18, 2018, 03:27:05 PM by birr Merited by JayJuanGee (1) |
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The proposed action is actually significant, when seen in the context of Wall Street coming in, with bitcoin rehypothecation and all it entails. Also fractional reserve on the exchanges... also... you get the idea. Caitlin Long has been writing about the effects of a fork on rehypothecated bitcoins, but she wasn't the one who first realized the implications. Trace Mayer mentioned it to her in an interview. I think the Jan 3 "Proof of Keys" may have been Trace Mayer's idea, but I'm not sure. In the reddit thread you linked, people discuss fractional reserve mostly, but it's the tip of the iceberg.
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BTCMILLIONAIRE
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December 18, 2018, 03:25:20 PM |
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The proposed action is actually significant, when seen in the context of Wall Street coming in, with bitcoin rehypothecation and all it entails. Also fractional reserve on the exchanges... also... you get the idea. Caitlin Long has been writing about the effects of a fork on rehypothecated bitcoins, but she wasn't the one who first realized the implications. Trace Mayer mentioned it to her in an interview. I think the Jan 3 "Proof of Keys" may have been Trace Mayer's idea, but I'm not sure. The difference is that non-physical Bitcoin instruments will merely be like betting on the outcome of a horse race. They're unlikely to have a significant impact on the market as it matures.
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birr
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December 18, 2018, 03:28:02 PM |
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If Wall Street rehypothecates bitcoin and there's a fork, big boys go bankrupt.
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JimboToronto
Legendary
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You're never too old to be young.
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December 18, 2018, 03:32:59 PM |
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An early good morning Bitcoinland.
Still holding on to most of yesterday's gains I see... currently $3601USD/$4830CAD (Bitcoinaverage).
Go Bitcoin go.
While I hopefully won't need to sell any coins until April/May, I like the option of selling at a profit from what I paid in the last month.
As it is, I'd rather roll up my spare change than sell even enough for pocket money. I'd rather be buying now but I already overspent these last few weeks and I don't expect any serious revenues until the end of January.
No regrets. I'd rather have coins in my paper wallets than bills in my leather one.
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Febo
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December 18, 2018, 03:35:20 PM |
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Get ready for the January dip.
Kinda like the november pump that never came? Statistically insignificant There was also no January dip in 2014.
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empowering
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December 18, 2018, 03:36:05 PM |
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LFC_Bitcoin
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One of the world's leading Bitcoin-powered casinos
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December 18, 2018, 03:44:55 PM |
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Get ready for the January dip.
Kinda like the november pump that never came? Statistically insignificant There was also no January dip in 2014. Which if you’re looking for past performance as an indicator of future price movements will tell us that we won’t have a Jan dip this time. Jan 2014 - No dump as sellers exhausted after massive price decrease after ATH Jan 2019 - No dump as sellers exhausted after massive price decrease after ATH?
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infofront
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Shitcoin Minimalist
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December 18, 2018, 03:45:59 PM |
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If correct we should keep rising, slowly at first, but gaining speed and volume on the way out and see 6k around Jan 12 2019. The cautious bull herd seems to be taking for granted they will get a nice long year to accumulate cheap coins like 2015 and then they can all be millionaires since they neglected to do this 4 years ago during the last great crypto winter, I dont think this will happen at all. Only 21 million(ok like 17 million) coins and its pretty pie in the sky for everyone to think they are gonna get 12 months of bargain basement prices where they can just casually collect coins for peanuts while fundamentals grow stronger by the day. Ideal scenario (gently and slowly light up your hopium pipes for this one and take a big inhale)........ after regaining 6k in mid January, Bakt would then usher in another mini bubble to 40k followed by a quick and mild bear season testing 10k again, all before the next halving where the march to 250k starts Ive been as bearish as the next guy. However, we should be given pause by the fact that everyone and his shoeshine boy are 100% certain that we're heading to $1,500-$2,500 and will endure 12+ months of crypto winter.
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Globb0
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Orthostatic Tremor 16k
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December 18, 2018, 03:47:12 PM |
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kurious
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December 18, 2018, 03:53:25 PM |
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Get ready for the January dip.
Kinda like the november pump that never came? Statistically insignificant There was also no January dip in 2014. Yes but, it was tumbling down from the ATH: I am pretty sure that in the last three years the annual absolute low was in January. All around two weeks in.
In 2014 and this one we had a December ATH to tumble down from.
So unless Bakkt does pick things up, maybe the few weeks post-year end will be the final spike down. The end of the year is a taxation point, so it's perhaps an oddly diptastic month for a reason. I am not a bear, but it is why I am wary of calling the bottom yet.
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infofront
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December 18, 2018, 03:55:48 PM |
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Here is an interesting opinion of Jim Rogers (which I completely disagree with, but i always like to listen to what opponents say): https://youtu.be/tNSXWkApxU8?t=410He basically says that if bitcoin/crypto would be successful, government can simply abolish it like England abolished scrip in the 30ies by making trading NOT in Bank of England notes (pounds) a TREASON. Don't simply dismiss this, hopefully, wrong notion because he is an old fogie since this is Jim Rogers, again, who happens to know about commodity markets quite a bit. He is not short, but not long either and acknowledges that he might be wrong in his skepticism. I think that he is wrong because bitcoin provides a standard/reference point, is apolitical and not 'owned' by a particular government plus could accelerate the commerce in due course. Being neutral would make it resistant to the moves that he described, unless there is cooperation among G20. What do you guys think? I think it would be more likely that the elites are hoarding all of the bitcoin for themselves. Historically, the elites have hoarded gold while shoving their worthless paper fiat down our throats. I see no reason for that to change in the age of bitcoin. Look at Jamie Dimon, George Soros, etc. publicly denouncing bitcoin, while quietly buying. Meanwhile, the unwashed masses: 
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infofront
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December 18, 2018, 04:06:38 PM |
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However, my own story is that I started buying at $1,200 in late 2013
You are not doing much to discredit my notion that you and Micgoossens are the dumbest money in the thread by stating that you bought at the absolute top of the last bubble, held all the way down to $200, watched the price then rise to $20k, sold zero, then watched it crater to $3k. Yes, you are technically still in the black...by sheer luck or random coincidence. You don't have much room to talk. You, presumably being smart money, have watched the multiple rises and falls of bitcoin from the sidelines.
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infofront
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December 18, 2018, 04:14:24 PM |
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I would dispute his take on the fungibility of bitcoin, and certain "cryptos".
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infofront
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December 18, 2018, 04:17:33 PM |
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We're still at accumulation prices. Nowhere close to FOMO prices yet.
This is the time when you should recommend to people you actually care about to get into Bitcoin. Not just buy but understand it. (ie...send them a link to the white paper).
When the price shoots up and you start getting e-mails from people asking if they should get into "crypto", politely point them to some videos about the Federal Reserve, Austrian economics, etc. Then if they're still interested (knowing they get it)...then show them the white paper.
 ...has been on sale at Amazon for <$14. Everyone should buy a few and hand them out to nocoiners or altcoiners who show potential. It makes a good Christmas gift!
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goldkingcoiner
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Yo mama
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December 18, 2018, 04:24:58 PM |
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We're still at accumulation prices. Nowhere close to FOMO prices yet.
This is the time when you should recommend to people you actually care about to get into Bitcoin. Not just buy but understand it. (ie...send them a link to the white paper).
When the price shoots up and you start getting e-mails from people asking if they should get into "crypto", politely point them to some videos about the Federal Reserve, Austrian economics, etc. Then if they're still interested (knowing they get it)...then show them the white paper.
 ...has been on sale at Amazon for <$14. Everyone should buy a few and hand them out to nocoiners or altcoiners who show potential. It makes a good Christmas gift! Thats a good one! But whats the chance that a no-coiner is going to want to read it? Most of them are already dead set on the "bitcoin is a bubble" theme.... All I hear is tulips this, pyramid that... I put a stop loss just below -REDACTED-. No worries boys. I got this.
Congrats.  Thank you! EVERYONE PAY ATTENTION TO ME!
HOLY SHIT. I ACCIDENTALLY LONGED AT 80x instead of 8x AT 3237. Talk about a lucky day! Of course I noticed my mistake but by the time I could correct it, we were impaled on a fast green dildo!
Not bad. So the beer's on you tonight? Maybe not tonight. I am hanging on to this long for a while like a bad gambler with an alcohol addiction. Still kind of hoping for another pumperino. Bollinger band constricting, Palms are sweaty Knees weak, arms are heavy Vomit on my sweater already Mom's spaghetti Wait, what? So you opened an 80x margin long by mistake, got the extreme luck that the price went in your favor and instead of thank the gods and close it and reopen with a more sane leverage you decide to... what? Let it go until you get rekt? y house gone More like: Oops, I accidentally got a house.... Well, not a house, but definitely a nice new car.
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BTCMILLIONAIRE
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December 18, 2018, 04:41:18 PM |
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Thats a good one! But whats the chance that a no-coiner is going to want to read it? Most of them are already dead set on the "bitcoin is a bubble" theme.... All I hear is tulips this, pyramid that... Thank you!
Wait, what? So you opened an 80x margin long by mistake, got the extreme luck that the price went in your favor and instead of thank the gods and close it and reopen with a more sane leverage you decide to... what? Let it go until you get rekt?
y house gone More like: Oops, I accidentally got a house.... Well, not a house, but definitely a nice new car. Not if you don't close the long. Reopening with half the profits at 40x would be quite a hefty gamble, but sensible. What you're doing implies a mentality that'll lead to more losses than you're prepared to handle. I hope for you that I'm wrong and wish you all the best, but damn.
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kenzawak
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December 18, 2018, 04:43:04 PM Merited by JayJuanGee (1) |
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8 Bitcoin Achievements That Prove 2018 Was Not Entirely Crap https://cryptobriefing.com/8-bitcoin-achievements-2018/1. Segwit Adoption Segregated Witness was a Bitcoin protocol upgrade that was activated in the summer of 2017. The upgrade enabled a greater number of transactions in Bitcoin blocks.
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2. Institutional Adoption We’ve seen players such as Fidelity Investments, Yale University, the New York Stock Exchange, and Square Inc. show interest in the space.
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3. Lightning Adoption Bitcoin now has almost $2 million in collateral on the network and the network has gone from 0 to 4400 nodes over the course of the last 12 months.
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4. Hashrate Increase The hashrate on the Bitcoin network has increased by almost 60% in 2018
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5. Code Development The development of Schnorr Signatures, as well as fixing and disclosing multiple critical bugs successfully, are two major steps in Bitcoin’s development.
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6. More Unique Users Bitcoin adoption is often measured as the number of unique addresses, and that has increased by 50% in 2018.
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7. Shaking Competition after the ICO craze of 2017, Bitcoin has seen its market dominance increase 16% over the course of 2018.
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8. Lower Fees the average fee per transaction has still fallen approximately 97%, which makes participation more user friendly for new entrants.
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Bitcoinaire
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December 18, 2018, 04:54:27 PM |
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If correct we should keep rising, slowly at first, but gaining speed and volume on the way out and see 6k around Jan 12 2019. The cautious bull herd seems to be taking for granted they will get a nice long year to accumulate cheap coins like 2015 and then they can all be millionaires since they neglected to do this 4 years ago during the last great crypto winter, I dont think this will happen at all. Only 21 million(ok like 17 million) coins and its pretty pie in the sky for everyone to think they are gonna get 12 months of bargain basement prices where they can just casually collect coins for peanuts while fundamentals grow stronger by the day. Ideal scenario (gently and slowly light up your hopium pipes for this one and take a big inhale)........ after regaining 6k in mid January, Bakt would then usher in another mini bubble to 40k followed by a quick and mild bear season testing 10k again, all before the next halving where the march to 250k starts Ive been as bearish as the next guy. However, we should be given pause by the fact that everyone and his shoeshine boy are 100% certain that we're heading to $1,500-$2,500 and will endure 12+ months of crypto winter.I don't see a long, lull in the market either. Prices are very low already and why should we be so lucky to accumulate cheap coins for 12+ months? Call me crazy, but I see the possibility for a double bubble still occurring in 2019.
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