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Author Topic: Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)  (Read 302160 times)
Doobs
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« Reply #1095 on: September 18, 2018, 03:46:52 PM »

There's always an opportunity for another bubble whatever the investment.

I'm only sad because I only found out last week that my wife knew about bitcoin in 2010 and could have bought some for pennies but she was too scared to buy/invest on things on the internet - such a missed opportunity.

That would have been sweet as hell. I wonder if there were many who weren't really clued up but bought some and forgot about them. What is more likely is people bought them and had no idea how to store them (tbf, that still stands now) and lost them on their hard drive or didn't save their private key.

Then you would have had to be brave and not sell them when one of the 7 bubbles burst until now, the only people I know who have gotten through so many bubbles are people who took their time to understand what bitcoin is, rather than buying it as a quick rich scheme. If you invest it for the latter, then you will inevitably get scared and sell on the way down. I know of a couple people who bought at around the 10-12k level last year and are looking to sell once they break even. Kinda funny really.

You have contradicted yourself here.   You say it is inevitable that get rich quick investors sell on the way down, and then say you know two of those who haven't.   

The psychological pain from selling at a loss has always prevented people from selling bad investments... "it is only a paper loss, not a real one.  So a significant number of people will hold to zero and only realise that they weren't as wise as they thought at that point.  And I dare say many of them will go to their graves convinced they were right, and their loss is down to someone else.

Of course history is full of those who only kept hold of investments because they struggled to find a way to sell them, only to then claim that was their plan was to hold all along when they later make huge gains.   

As an aside, it never ceases to amaze me how many supposedly inteligent people think the Government have recently lost money on the sale of RBS shares, when the share price history shows they spewed it away around 10 years ago.
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lucky_scrote
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« Reply #1096 on: September 18, 2018, 04:13:59 PM »

Can confirm the psychological pain on selling at a loss. I made some poor decisions selling some of my bitcoin for a couple of things and I am too stubborn to sell.
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« Reply #1097 on: September 18, 2018, 07:25:33 PM »

There's always an opportunity for another bubble whatever the investment.

I'm only sad because I only found out last week that my wife knew about bitcoin in 2010 and could have bought some for pennies but she was too scared to buy/invest on things on the internet - such a missed opportunity.

It could be worse, you could be Laszlo Hancyzek

https://www.telegraph.co.uk/technology/2018/05/22/inside-story-behind-famous-2010-bitcoin-pizza-purchase-today/
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« Reply #1098 on: September 19, 2018, 05:27:58 AM »

What do you mean that institutions rule the roost?

Yes sub $100 eth is more likely than $10k. I would take that bet too (who said that, can't find it).

Bitcoin has indeed done very well each time it has been tested at the 6k level, it goes without saying the more often it is tested and holds the more it says about what people think it is worth. I can offer some input regarding this. I actually now work for a bitcoin broker in the Netherlands and last month was the biggest drop in seller % and largest increase in buyers. That trend means a lot given that the hype has gone away. The hype will return just like it has done in 6 or 7 cycles previously. I feel very very bullish for BTC in the next few months and am very excited to see what happens. Maybe someone wants to take a friendly bet that BTC will break 10k before Dec 31st with me? Smiley We probably keep testing support but I feel pretty good about the worst case scenario being hovering around 6-7k for a while.

I do agree with the state of a lot of coins not reaching their ATH's for a long time, I would also disagree and say that a lot of them will never reach their ATH again, this is of course easy feel this way during such a bear market. The future is very unknown and I have never felt confident about the value of a lot of alts in terms of their dollar value, however, I don't believe that makes their value redundant.



I mean the price of Bitcoin is being manipulated by the institutions in the futures markets. It’s in their interests for the price to go much lower than it is today, so they can buy bitcoin at some stage in the future from panicked sellers.

Bitcoin is being compared to Gold in regards to the proposed ETFs, but in my opinion a large part of the upswing in the gold price was to do with it being a safe haven asset during the financial crisis. Bitcoin is anything but a safe haven asset.



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Mango99
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« Reply #1099 on: September 21, 2018, 03:01:25 PM »

Does anyone have XRP? I bought a whole chunk (too much!) late 2017 in preference to BTC (though I did buy some BTC, BCH, XLM and ETH too). I sold all my BTC a few days ago and moved it into XRP as figured there might be an XRP bull run, and 'tis going a bit crazy the last three days for sure

+60%-ish_. Just overtaken ETH as 2nd biggest crypto by market cap. Interesting times.
« Last Edit: September 21, 2018, 03:03:14 PM by Mango99 » Logged
rfgqqabc
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« Reply #1100 on: September 21, 2018, 05:03:37 PM »

Does anyone have XRP? I bought a whole chunk (too much!) late 2017 in preference to BTC (though I did buy some BTC, BCH, XLM and ETH too). I sold all my BTC a few days ago and moved it into XRP as figured there might be an XRP bull run, and 'tis going a bit crazy the last three days for sure

+60%-ish_. Just overtaken ETH as 2nd biggest crypto by market cap. Interesting times.

Please dear god dump your xrp here. Rank 2 in crypto and enormous volume are a sign off a blowoff top- Price peaked nearly 2.5x since the 18th.
 Click to see full-size image.
« Last Edit: September 21, 2018, 05:10:33 PM by rfgqqabc » Logged

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Mango99
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« Reply #1101 on: September 21, 2018, 05:15:16 PM »

Does anyone have XRP? I bought a whole chunk (too much!) late 2017 in preference to BTC (though I did buy some BTC, BCH, XLM and ETH too). I sold all my BTC a few days ago and moved it into XRP as figured there might be an XRP bull run, and 'tis going a bit crazy the last three days for sure

+60%-ish_. Just overtaken ETH as 2nd biggest crypto by market cap. Interesting times.

Please dear god dump your xrp here and forget about it. Rank 2 in crypto and enormous volume are a sign off a blowoff top- Price peaked nearly 2.5x since the 18th.


ha, no thanks. I think it'll be somewhere around $3 at EOY, possibly higher. I did offload a few thousand coins at 0.67 though just now, and tried to buy-in a bit lower, but muffed it and ended up with .67 again :p (it's now 0.61, ah well.).

 Click to see full-size image.


Change since midnight GMT was +75%  (now down +35%), with 3 day change something like 125%. Nuts.
« Last Edit: September 21, 2018, 05:17:48 PM by Mango99 » Logged
rfgqqabc
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« Reply #1102 on: September 21, 2018, 06:30:47 PM »

Does anyone have XRP? I bought a whole chunk (too much!) late 2017 in preference to BTC (though I did buy some BTC, BCH, XLM and ETH too). I sold all my BTC a few days ago and moved it into XRP as figured there might be an XRP bull run, and 'tis going a bit crazy the last three days for sure

+60%-ish_. Just overtaken ETH as 2nd biggest crypto by market cap. Interesting times.

Please dear god dump your xrp here and forget about it. Rank 2 in crypto and enormous volume are a sign off a blowoff top- Price peaked nearly 2.5x since the 18th.


ha, no thanks. I think it'll be somewhere around $3 at EOY, possibly higher. I did offload a few thousand coins at 0.67 though just now, and tried to buy-in a bit lower, but muffed it and ended up with .67 again :p (it's now 0.61, ah well.).

 Click to see full-size image.


Change since midnight GMT was +75%  (now down +35%), with 3 day change something like 125%. Nuts.

I edited the forget about it bit out as it seemed a bit much. But please take a bit of profit even if its just to flip for some more xrp. Its a pretty low liquidity coin (hence the enormous pump). Your 3$ target gives it a market cap of over 120bn, which is around the mcap of the top 50 S&P 500 companies. Now i know it got there before but that took 3 years of bull market conditions. I know it feels euphoric right now but 125% in 3 days and you don't want to take anything at all off the table. Esp with the classic crypto top signs as well

1) More volume than BTC on Bitfinex   (Eth bottomed recently when its volume >BTC, EOS topped when its volume >BTC
2) 2nd in mcap rating behind BTC over taking ETH  https://www.cnbc.com/2017/12/29/ripple-soars-becomes-second-biggest-cryptocurrency-by-market-cap.html
3) Blowoff top with large wick on lower time frames, way above moving averages.

Might be a bit late now and the old adage of Stairs up and Elevator down will struggle to apply with how parabolic it was.

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Mango99
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« Reply #1103 on: September 21, 2018, 06:49:31 PM »

I edited the forget about it bit out as it seemed a bit much.

Well that completely changes the meaning then Smiley The plan is indeed to skim the top and reinvest the drops.... Today's attempt not being entirely successful admittedly! Smiley

p.s. thanks for well thought out post / analysis.
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Mango99
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« Reply #1104 on: September 25, 2018, 12:27:57 PM »

Merde.

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lucky_scrote
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« Reply #1105 on: September 26, 2018, 04:15:03 PM »

What do you mean that institutions rule the roost?

Yes sub $100 eth is more likely than $10k. I would take that bet too (who said that, can't find it).

Bitcoin has indeed done very well each time it has been tested at the 6k level, it goes without saying the more often it is tested and holds the more it says about what people think it is worth. I can offer some input regarding this. I actually now work for a bitcoin broker in the Netherlands and last month was the biggest drop in seller % and largest increase in buyers. That trend means a lot given that the hype has gone away. The hype will return just like it has done in 6 or 7 cycles previously. I feel very very bullish for BTC in the next few months and am very excited to see what happens. Maybe someone wants to take a friendly bet that BTC will break 10k before Dec 31st with me? Smiley We probably keep testing support but I feel pretty good about the worst case scenario being hovering around 6-7k for a while.

I do agree with the state of a lot of coins not reaching their ATH's for a long time, I would also disagree and say that a lot of them will never reach their ATH again, this is of course easy feel this way during such a bear market. The future is very unknown and I have never felt confident about the value of a lot of alts in terms of their dollar value, however, I don't believe that makes their value redundant.



I mean the price of Bitcoin is being manipulated by the institutions in the futures markets. It’s in their interests for the price to go much lower than it is today, so they can buy bitcoin at some stage in the future from panicked sellers.

Bitcoin is being compared to Gold in regards to the proposed ETFs, but in my opinion a large part of the upswing in the gold price was to do with it being a safe haven asset during the financial crisis. Bitcoin is anything but a safe haven asset.





A little contradictory no? Wasn't gold supposed to have been manipulated over the years? I don't deny in the belief that has happened with bitcoin too, I just don't know enough about this sort of behaviour.

What makes gold such a safe haven asset? (I already know the answers, I just want to hear it from you)

What makes Bitcoin anything but a safe haven asset?
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rfgqqabc
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« Reply #1106 on: September 26, 2018, 05:02:39 PM »

What do you mean that institutions rule the roost?

Yes sub $100 eth is more likely than $10k. I would take that bet too (who said that, can't find it).

Bitcoin has indeed done very well each time it has been tested at the 6k level, it goes without saying the more often it is tested and holds the more it says about what people think it is worth. I can offer some input regarding this. I actually now work for a bitcoin broker in the Netherlands and last month was the biggest drop in seller % and largest increase in buyers. That trend means a lot given that the hype has gone away. The hype will return just like it has done in 6 or 7 cycles previously. I feel very very bullish for BTC in the next few months and am very excited to see what happens. Maybe someone wants to take a friendly bet that BTC will break 10k before Dec 31st with me? Smiley We probably keep testing support but I feel pretty good about the worst case scenario being hovering around 6-7k for a while.

I do agree with the state of a lot of coins not reaching their ATH's for a long time, I would also disagree and say that a lot of them will never reach their ATH again, this is of course easy feel this way during such a bear market. The future is very unknown and I have never felt confident about the value of a lot of alts in terms of their dollar value, however, I don't believe that makes their value redundant.



I mean the price of Bitcoin is being manipulated by the institutions in the futures markets. It’s in their interests for the price to go much lower than it is today, so they can buy bitcoin at some stage in the future from panicked sellers.

Bitcoin is being compared to Gold in regards to the proposed ETFs, but in my opinion a large part of the upswing in the gold price was to do with it being a safe haven asset during the financial crisis. Bitcoin is anything but a safe haven asset.





A little contradictory no? Wasn't gold supposed to have been manipulated over the years? I don't deny in the belief that has happened with bitcoin too, I just don't know enough about this sort of behaviour.

What makes gold such a safe haven asset? (I already know the answers, I just want to hear it from you)

What makes Bitcoin anything but a safe haven asset?

New technology poses risks, see recent CVE inflation bug. Highly volatile. Unclear regulatory environment.

Not sure if safe haven refers to censorship resistant or risk on/risk off. Its hard to say BTC is risk off compared to traditional risk off assets like Gold or Government Bonds. I think the run up in price coincides with new asset class emergence combined with factors of; low faith in government and the tech led market boom in recent years.

Trump and Brexit are good examples but also see recent reports on Crypto ownership in Brazil, a country where the establishment is facing a crisis at the moment. Korea has also seen protests against the government and also has high levels of interest in cryptocurrency.

SP500 had a significant top in January that has taken roughly 6 months to consolidate past, the risk on/off narrative could be applied here, but I don't want to overlook the overall market cycle crypto had and its certainly not strongly correlated but I think its worth thinking about.
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Mango99
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« Reply #1107 on: September 27, 2018, 01:20:01 PM »

Hey DC, long time no speak, you good? Smiley I live overseas myself now too (South of France running a watersports holiday company, teaching wakeboarding and waterskiing and a few other things).

What's your views on XRP? Personally, I think it's the most likely crypto to go big in the next 3 months. I'm gambling on it being somewhere between $2 and $3 (though higher would be nice) by the year end. I think %-wise, it'll be the most successful crypto by quite a long way between now and year end. It does kinda break the rules of cryptos - way too centralised, way too much control and ownership of XRP by Ripple itself, designed for big business/banks rather than individuals etc., but it has a great use case (for them anyway!), and if they do continue to get on board I think it could go massive.

Other crypto-wise, I started buying around May 2017. My brother got involved 18 months or so before that, and made a *lot* of money on ETH. Bought in for £tens of thousands when it was less than $2. It peaked at $1200+!. Mad!. Though obviously he sold chunks along the way, so doesn't quite have £429million  Tongue

rfgqqabc, did you used to be a day trader? You sound like you know your stuff?
« Last Edit: September 27, 2018, 01:30:22 PM by Mango99 » Logged
youthnkzR
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« Reply #1108 on: September 29, 2018, 12:41:20 AM »

Made me smile when the Mrs showed me part of I watched a Coronation Street episode talking about cryptocurrency... more specifically 'WhipCoin'  

https://bitcoinist.com/cryptocurrency-coronation-street/
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« Reply #1109 on: September 30, 2018, 11:33:06 AM »

What do you mean that institutions rule the roost?

Yes sub $100 eth is more likely than $10k. I would take that bet too (who said that, can't find it).

Bitcoin has indeed done very well each time it has been tested at the 6k level, it goes without saying the more often it is tested and holds the more it says about what people think it is worth. I can offer some input regarding this. I actually now work for a bitcoin broker in the Netherlands and last month was the biggest drop in seller % and largest increase in buyers. That trend means a lot given that the hype has gone away. The hype will return just like it has done in 6 or 7 cycles previously. I feel very very bullish for BTC in the next few months and am very excited to see what happens. Maybe someone wants to take a friendly bet that BTC will break 10k before Dec 31st with me? Smiley We probably keep testing support but I feel pretty good about the worst case scenario being hovering around 6-7k for a while.

I do agree with the state of a lot of coins not reaching their ATH's for a long time, I would also disagree and say that a lot of them will never reach their ATH again, this is of course easy feel this way during such a bear market. The future is very unknown and I have never felt confident about the value of a lot of alts in terms of their dollar value, however, I don't believe that makes their value redundant.



I mean the price of Bitcoin is being manipulated by the institutions in the futures markets. It’s in their interests for the price to go much lower than it is today, so they can buy bitcoin at some stage in the future from panicked sellers.

Bitcoin is being compared to Gold in regards to the proposed ETFs, but in my opinion a large part of the upswing in the gold price was to do with it being a safe haven asset during the financial crisis. Bitcoin is anything but a safe haven asset.





A little contradictory no? Wasn't gold supposed to have been manipulated over the years? I don't deny in the belief that has happened with bitcoin too, I just don't know enough about this sort of behaviour.

What makes gold such a safe haven asset? (I already know the answers, I just want to hear it from you)

What makes Bitcoin anything but a safe haven asset?

Gold is a safe haven asset because of its correlation with equities. It is also considered a legitimate medium of exchange, store of value and a hedge against inflation. All the things Bitcoin isn't

When people lose faith in the financial system as was the case in 2008, one of the first asset classes they turned to is precious metals. Having gold in a portfolio is a sensible hedge against market capitulation. It reduces volatility.





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