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Author Topic: Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)  (Read 302090 times)
nirvana
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« Reply #1155 on: November 23, 2018, 02:09:48 PM »

$4.1k and were all in

Stay alert or have you got the auto buys in already ?
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nirvana
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« Reply #1156 on: November 23, 2018, 02:11:06 PM »

Got to thinking that being a headline writer for Bitcoin clickbait must be the easiest job in the world- probs done by AI already
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tikay
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« Reply #1157 on: November 23, 2018, 02:32:17 PM »

Got to thinking that being a headline writer for Bitcoin clickbait must be the easiest job in the world- probs done by AI already

As a sort of interested disinterested observer on the sidelines, it's fascinating to see that price falls are in direct correlation to "puff pieces".

Simply searching "bitcoin price" in the last few days brings up reams of this sort of stuff;


Bitcoin Price May Drop To $4.5K, RISE TO $77K Within Six Months” - This Pro Opinion Is A Must Hear


It so reminds me of the dotcom bubble some 20 (?) years ago. Thousands of businesses were being hyped, & almost all of them crashed & burned. However, if you selected correctly (google, Apple, Amazon etc) then there were abso fortunes to be made. Same applies here I guess.

Anyway, gl all, be you a bear or a bull. 
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tikay
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« Reply #1158 on: November 23, 2018, 02:56:03 PM »


Somewhat ironically, I see the price has now dropped to $4,285.

So I guess that headline will now read......


Bitcoin Price May Drop To $4.2K, RISE TO $85K Within Six Months” - This Pro Opinion Is A Must Hear
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nirvana
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« Reply #1159 on: November 23, 2018, 06:41:52 PM »


Somewhat ironically, I see the price has now dropped to $4,285.

So I guess that headline will now read......


Bitcoin Price May Drop To $4.2K, RISE TO $85K Within Six Months” - This Pro Opinion Is A Must Hear


Haha, the whole things still fascinates me and I check the price every day. There are about 6 headlines in total and I assume most make great sense for the people trading BTC:

Expert says Bitcoin about to surge
Why is Bitcoin surging
Why is Bitcoin falling
Why Bitcoin is set to bounce back
Why is Bitcoin plunging
What was Bitcoin
« Last Edit: November 23, 2018, 06:47:07 PM by nirvana » Logged

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tikay
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« Reply #1160 on: November 23, 2018, 07:36:10 PM »


Somewhat ironically, I see the price has now dropped to $4,285.

So I guess that headline will now read......


Bitcoin Price May Drop To $4.2K, RISE TO $85K Within Six Months” - This Pro Opinion Is A Must Hear


Haha, the whole things still fascinates me and I check the price every day. There are about 6 headlines in total and I assume most make great sense for the people trading BTC:

Expert says Bitcoin about to surge
Why is Bitcoin surging
Why is Bitcoin falling
Why Bitcoin is set to bounce back
Why is Bitcoin plunging
What was Bitcoin


Ha, I check the prices every day, too.

Despite the best and most patient efforts of Mr Scrote, it makes as much sense to me as baseball stats, but I thoroughly enjoy watching the process from the rail.
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youthnkzR
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« Reply #1161 on: November 24, 2018, 04:59:19 AM »


Here you have the Independent:

- Telling you electricity costs more in the US than in China
- Posting a video of some mining rigs being upgraded but falsely claiming the operation was shutting down (believe it or not technology advances!!!!)
- Making a baseless statement : 'Another group of Chinese cryptocurrency miners also reportedly shut down 20,000 mining rigs due to the fall in profitability.'

Quality reporting!



« Last Edit: November 24, 2018, 05:07:15 AM by youthnkzR » Logged
youthnkzR
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« Reply #1162 on: November 24, 2018, 05:02:45 AM »

Here's a counter theory for you.

Its well within the grasp of the BIG mining operations to collude and tank/suppress the price of Bitcoin to make mining unprofitable for smaller scale operations > Smaller scale ops can't absorb the losses / shutdown > BIG mining ops win big.
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youthnkzR
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« Reply #1163 on: November 24, 2018, 05:05:33 AM »

Not that I'm qualified or knowledgeable enough to have an opinion on it either way.
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youthnkzR
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« Reply #1164 on: November 24, 2018, 05:40:23 AM »

Some of the current bitcoin commentary is pretty hilarious - below 5k dollars now and people still trying to call likely bottoms, chart resistance and trends.

Made me wonder if people who sell goods or services in btc, convert to fiat instantly to ensure they collect the level of cash that they expected to from what I assume must be constantly fluctuating btc prices.

Assume most do as I can't imagine how you would run your business with such a high degree of 'currency' fluctuation and volatility.

This then, seems to really beg the original question that most sceptics would have in terms of the utility and benefits that accrue to any business making it's offer in btc.

Bitcoin doesn't work as a 'currency' for many reasons... Its more likened to gold.


How can anything with a finite supply be expected to be a currency? A capped supply is a disincentive people from using it as a currency, and is also so contrary to how fiat currencies work. Imagine if every year your employer gave you a cost of living pay cut. Your debts get bigger in real terms every year even though the balance stayed the same.

Slight inflation is an incentive to spend 'money', which drives GDP growth.... Bitcoin does not do this.

People who are accepting Bitcoin for their goods / services SHOULD be doing it purely from a speculative point of view and making sure they're in a financial position to do so.... If this isn't the reason / they aren't in a financial position to speculate with the amounts of Bitcoin they're receiving then they need to educate themselves more. 
« Last Edit: November 24, 2018, 05:43:17 AM by youthnkzR » Logged
nirvana
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« Reply #1165 on: November 25, 2018, 01:01:17 PM »

$4.1k and were all in

Stay alert or have you got the auto buys in already ?

Hope you got cold feet on this
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nirvana
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« Reply #1166 on: November 25, 2018, 01:02:35 PM »

XRP somewhat off the $2-3 target for year end, wonder what happened ?
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nirvana
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« Reply #1167 on: November 25, 2018, 01:06:46 PM »

Earlier this week, Lou Kerner, a partner at venture capital firm CryptoOracle, compared the current slump in crypto prices to the dotcom burst in the early 2000s. Kerner stated that strong coins should be viewed like the big companies that came out of the dotcom bubble, like Amazon.

Moreover, the venture capitalist said that Bitcoin is “the greatest store of value ever created,” and will surpass gold over time. When asked what could be behind the recent slump, Kerner argued that “crypto has been so weak because [for] most of it there is no underlying value outside of confidence.


Last sentence is a pearler and goes to the top of my 'no shit Sherlock' list
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Simon Galloway
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« Reply #1168 on: November 25, 2018, 09:15:05 PM »


Hope you got cold feet on this

Well every cloud has a silver lining.  Lots more players out there will have done their niags and need a stake.
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youthnkzR
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« Reply #1169 on: November 25, 2018, 11:37:18 PM »

XRP somewhat off the $2-3 target for year end, wonder what happened ?

XRP isn't a cryptocurrency. If I'm being brutally honest its totally worthless. Lots of people see 'the partnerships' 'the banks using ripple', yeah cool.... now tell me more about why XRP has value.
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