📄 Rendered from the archive database (the original static capture of this page wasn't kept). Content is complete; styling is simplified.
(10-18-2015 07:22 AM)pants Wrote: I taking a break from online forums, and bitcoin, my 21 coins have been untouched for a while. Nice to see this thread is still alive!
Any news in bitcoin latly? Heard one buy in a bar mentioned bitcoin stock exchange?
Yes, there have been quite a bit of Bitcoin developments in the bitcoin space in about a year since your last post in this thread.
It has been a bit difficult to get news through this thread; however, since the posts have NOT been too active... hahahahahaha.. except for yours truly...
Regarding current price movement, maybe we are going to remain in this territory of $255 to $275 for a few days.
Actually, since the weekend mostly contained retracement of the $273 high (on Stamp), maybe there will be some movement in one direction or the other by NO later than Wednesday...
I remain fairly confident that the short-term price direction of BTC has a fairly bullish inclination -yet I am retaining some doubts about whether BTC prices can go above or remain above $300 prior to the Fed auction in early November.
Thoughts?
Where are BTC prices going this week and in the coming 2.5 weeks prior to the Fed auction?
SunW · 2015-10-19 19:39:00 · #2285
Great article here by a portfolio manager, which those in cryptocurrencies might appreciate. Summary: the Fed is stuck, very stuck. No matter what path it chooses, it will be painful for someone.
Quote:Unfortunately, since people are unaware that they are making decisions within a prisoner's dilemma it follows that they do not know many of the decisions they've made are "irrational" and not in their best interests.
What I find interesting is that when the Fed is tried to communicate their desire to normalize and END the prisoner's dilemma - the market responded quite negatively. It was as if people were starting to realize that irrational behavior was once again going to be subject to risk.
The market only started to improve when the economic data was so poor that it became glaringly obvious that the Fed would NOT be able to normalize rates and stop their prisoner's dilemma. This highlights yet another possible problem created via an excessive duration of a prisoner's dilemma within the financial markets: addiction.
(10-19-2015 07:39 PM)SunW Wrote: Great article here by a portfolio manager, which those in cryptocurrencies might appreciate. Summary: the Fed is stuck, very stuck. No matter what path it chooses, it will be painful for someone.
.....................[snip]................
Thanks for that contribution SunW. It definitely supports any investment position that would include somehow attempting to hedge ones bets outside of mainstream investments (including investments that dependent on the long term valuation of the dollar or other manipulated fiat currencies).
Currently, there appears to be quite a few indicators that BTC prices are transitioning into reversal - meaning that maybe this time for sure we are leaving the fairly long bear market. Accordingly, it seems even more necessary to prepare for some upward BTC price surges (even though we will likely experience several ups and downs along the way to the moon).
I think that I have created a pretty decent tentative plan to rake BTC profits that draws from concepts of preplanning investment and according to my own individual particulars, and that is going to involve both raking BTC profits and reinvesting those profits.
Even though my tentative BTC rake plan is NOT as "simple" as merely cashing out or playing balls to the walls strategies, it still borrows fundamental concepts from the principles of projecting ahead and then establishing various criteria and triggering points for selling and/or reinvesting.
For me, the criteria of my rake/reinvestment plan are NOT exactly set in stone, but they are pretty solidly predetermined in order that I am able to act quickly when BTC prices could rise quickly, and when various predetermined BTC price points are triggered.
My current projected rake plan involves raking approximately 6% of the total BTC holdings the first time when my overall BTC holdings are at approximately 66% profit levels. Thereafter, my rake is projected to be 3.3% each time that my BTC portfolio reaches an additional 33% profits.
Furthermore, my rake plan involves completely taking out 50% of the rake proceeds (and using those proceeds for anything, including the enjoying of life) and holding the other 50% of the rake proceeds in a BTC reinvestment fund that will be triggered in approximately three stages (of equal amounts) - in the event that BTC prices subsequently drop 9% then 7% and then 4% (which in essence would cause the total amount of the reinvestment portion of the rake proceeds to be reinvested by the time BTC prices dropped 20% lower than my rake price, if such a drop were to occur).
BBinger · 2015-10-22 02:03:00 · #2289
(10-17-2015 07:56 PM)SunW Wrote: (10-16-2015 03:47 AM)BBinger Wrote: Treat Coinbase as a surveillance operation. They want your info and survive on that. Your money is little to them. Get into the actual Bitcoin spirit and let it burn.
Are there other cryptos that are more anonymous? The public nature of addresses does bother me.
Bitcoin can still do it if you use it right. If you feel the need to mix, be your own mixer. If you must use a service like CoinBase relegate it to either going in "delivering you Bitcoins" or out "giving you local toilet paper."
(10-17-2015 10:44 PM)Satoshi Wrote: I'm not excited before we pass $320.
(10-17-2015 07:56 PM)SunW Wrote: Are there other cryptos that are more anonymous? The public nature of addresses does bother me.
Yes many. Maidsafe for example, once launched, will have anonymous and instant transactions, without a blockchain.
Maidsafe is part of a vaporware plague promising the world profitable nonsense, and delivering little. Even Ethereum too its network public, but Maidsafe and the rest of the "MasterCoin" compatriots won't even get that far in the hopes that they can still milk a few more dollars out of the gullible.
(10-20-2015 11:48 AM)JayJuanGee Wrote: Very interesting development to potentially drive BTC prices skyward.
http://cointelegraph.com/news/115435/chi...ns-bullish
This new China news seems like it might be the real-ish deal. I'm very skeptical of CoinTelegraph now because of how hard they are pushing "Neucoin" (aka bitcoin stripped of everything good), but feel free to take that part with a grain of salt considering my involvement with what some people would consider a CoinTelegraph competitor.
My take is that bigger than the China news, a lot of Anglophone jurisdictions are hurting (China is hurting quite a bit too. This means that money is burning so there isn't all that much to move out, but they know what ever else they are holding isn't worth burning their fingers.)
Satoshi · 2015-10-22 07:55:00 · #2290
(10-22-2015 02:03 AM)BBinger Wrote: Maidsafe is part of a vaporware plague promising the world profitable nonsense, and delivering little. Even Ethereum too its network public, but Maidsafe and the rest of the "MasterCoin" compatriots won't even get that far in the hopes that they can still milk a few more dollars out of the gullible.
So you follow the development then?
(10-22-2015 02:03 AM)BBinger Wrote: (10-20-2015 11:48 AM)JayJuanGee Wrote: Very interesting development to potentially drive BTC prices skyward.
http://cointelegraph.com/news/115435/chi...ns-bullish
This new China news seems like it might be the real-ish deal. I'm very skeptical of CoinTelegraph now because of how hard they are pushing "Neucoin" (aka bitcoin stripped of everything good), but feel free to take that part with a grain of salt considering my involvement with what some people would consider a CoinTelegraph competitor.
My take is that bigger than the China news, a lot of Anglophone jurisdictions are hurting (China is hurting quite a bit too. This means that money is burning so there isn't all that much to move out, but they know what ever else they are holding isn't worth burning their fingers.)
Besides the decent market movement today and the past week, there seem to be a few other decent developments potentially providing green lights for Bitcoin.
1) EU Rules Bitcoin is a Currency not a Commodity—Virtually
http://blogs.wsj.com/digits/2015/10/22/e...virtually/
2) Australian banks’ closure of Bitcoin companies’ accounts under investigation
https://coinreport.net/australian-banks-...stigation/
@ Satoshi:
You haven't responded to my earlier question of you, yet? Are you having any second thoughts on getting back into bitcoin?
A lot of the positive aspects of various alt developments are likely going to be absorbed into bitcoin, so bitcoin still continues to have way more potential upside than the various alts that you may be continuing to consider as your investment vehicles
Got a Bitcoin question for you guys. I'm selling Hover Boards, doing it locally with cash but wanted to expand online but don't want to deal with credit card chargebacks when boards maybe break after 3 months possibly.
I'm wondering if it would be better to take payment through Coinbase system or just have people send coins directly to my paper wallet?
Ithink the coinbase thing may add a perception of being a bit more trustworthy but just wanted to make sure if I did go that route do they allow chargebacks and do they 1099 you at the end of the year?
Satoshi · 2015-10-22 22:08:00 · #2293
(10-22-2015 01:39 PM)JayJuanGee Wrote: Are you having any second thoughts on getting back into bitcoin?
No.
(10-22-2015 01:56 PM)jamaicabound Wrote: Got a Bitcoin question for you guys. I'm selling Hover Boards, doing it locally with cash but wanted to expand online but don't want to deal with credit card chargebacks when boards maybe break after 3 months possibly.
I'm wondering if it would be better to take payment through Coinbase system or just have people send coins directly to my paper wallet?
Ithink the coinbase thing may add a perception of being a bit more trustworthy but just wanted to make sure if I did go that route do they allow chargebacks and do they 1099 you at the end of the year?
I hope that you would NOT be planning to limit yourself in any way.
Surely, you could create an incentive for buyers to use bitcoin, but sometimes the best way to make a sale is to accept what the large majority of the people want to use, and that is increasingly credit cards.
I know a few retail businesses that accept bitcoin, but they really are NOT using that very frequently.
Accordingly, I think that if you find someone willing to use bitcoin, then that is an exceptional customer -
YES... it seems likely that in the future we are going to find a lot more people using bitcoin, but even with another potential BTC price run-up looming, it's likely going to take a few more years before we get more wide-spread usage of BTC.
In other words, we are likely going to experience at least one more bubble, if NOT a couple more bubbles before we start to witness bitcoin filtering down to the common folks.
(10-22-2015 10:08 PM)Satoshi Wrote: (10-22-2015 01:39 PM)JayJuanGee Wrote: Are you having any second thoughts on getting back into bitcoin?
No.
Well satoshi, I am sorry to hear that you seem to be listening to a lot of the wrong folks, because even though there are a lot of governance issues with Bitcoin and there is government targeting, big bank targeting and even some deficiencies including privacy issues that are better addressed by some other alt coins, a lot of the stars seem to be currently lined up for the beginning of another bubble.
There are a lot of networking effects with bitcoin that are falling into place really well, maybe even better than expected in some regards.
No I don't know (just like many others cannot predict) whether the next bubble will occur for sure or NOT; however, I do know that Bitcoin as proven to be the honey badger of cryptos, and even though over 600 alt coins have been developed, they all together only add up to 1/10th of BTC's market cap.
Surely when BTC bubbles, some of the alts may be able to bubble with a higher return rate, but BTC is going to be more stable than the rest, and may even absorb several of the good aspects of the other coins.
Satoshi · 2015-10-23 01:42:00 · #2296
I think you know that most of those 600 different coins are plain bitcoin copies with small changes and new name.
Bitcoin is not user friendly at all.
(10-23-2015 01:42 AM)Satoshi Wrote: I think you know that most of those 600 different coins are plain bitcoin copies with small changes and new name.
Bitcoin is not user friendly at all.
I believe that you and I would agree on several points, including the fact that there are only a few potential gems among the alt coins, but even if some of the alt coins are gems, that does NOT indicate that they are either going to beat out BTC in terms of technical performance or even financial performance.
I understand that you only have a limited amount of financial resources, and therefore you have to choose where to invest.
I agree with you that in a lot of ways BTC is NOT very user friendly, but there are many ways in which BTC is continuing to get better and the lack of user-friendliness is NOT going to stop the next bubble from forming and taking place. In any event most of the coolest of the crypto developments are taking place within BTC or in such a way that BTC is going to be able to borrow (or steal various innovations taking place in related crypto space). and perhaps after there will attract further capital into bitcoin and also further innovations to create some killer BTC apps.
Need help.
If I want to sell bitcoin on localbitcoins.com...I have a paypal account. Do I simply write my paypal username on the sell ad, and that's how they can send the money to my papal account? or is there more to it than that.
I see bitcoin sellers with paypal have all these other verification methods I didn't know all that was necessary for paypal...
rdvirus · 2015-10-30 22:55:00 · #2299
Surprised this thread isn't more active given the recent movement! $330~ US roughly right now. I bought at $235~ and hadnt taken a look since so it kinda caught me off guard. Had to make sure I was seeing it right..
has anyone here used VIRWOX to exchange their bitcoin for cash? how long do they take to transfer the cash to your bank? coinbase and paypal are 4 days that's too long for me.
virwox has high fees but is extremely fast in trading out currencies without delays. if their withdraw-to-bank method is faster than paypal's 3-5 days then virwox might be the fastest.
(10-29-2015 05:22 PM)Disco_Volante Wrote: Need help.
If I want to sell bitcoin on localbitcoins.com...I have a paypal account. Do I simply write my paypal username on the sell ad, and that's how they can send the money to my papal account? or is there more to it than that.
I see bitcoin sellers with paypal have all these other verification methods I didn't know all that was necessary for paypal...
Only my very first bitcoin purchase was through LocalBitcoins, and I have maintained a Local Bitcoins account, but I have NOT traded through it.
I think that the verification issues are related to developing trust with people. Traders who create more verifications will be able to sell for more because they are trusted.
Based on the recent boom in bitcoin, probably, you do NOT necessarily need to be trusted because demand for bitcoins seems to be going way up, and if you are flexible, and willing to meet with people, then you can probably sell a lot of bitcoins, even if you have NOT gone through all of the verifications.
(10-30-2015 10:55 PM)rdvirus Wrote: Surprised this thread isn't more active given the recent movement! $330~ US roughly right now. I bought at $235~ and hadnt taken a look since so it kinda caught me off guard. Had to make sure I was seeing it right..
I think that a lot of RVF guys got discouraged with bitcoin after it suffered a pretty heavy downward trend throughout 2014, and then the flat performance through the first 8 months of 2015 was NOT really helpful to inspire bitcoin excitement.
I have largely migrated a lot of my posts and my bitcoin discussion activities to Bitcointalk.org; nonetheless, these are very exciting times for bitcoin, and likely there are several closeted RVF bitcoin enthusiasts. Also, if some RVF guys are NOT bitcoin enthusiasts, they will likely come over to bitcoin in the coming months.
Bitcoin has a lot to offer for RVF guys and the high representation of travel enthusiasts amongst the RVFers.
$400 seems to be fairly easily in reach in the coming days, and possibly, depending on whether this BTC market is overbought (which really I do NOT see signs of that), we are very likely to be seeing prices above $500 within less than 2 weeks... NO guarantees, of course.
Satoshi · 2015-11-03 00:25:00 · #2303
Ok I regret selling already.
should probably correct a bit soon though.
(10-31-2015 05:00 PM)Disco_Volante Wrote: has anyone here used VIRWOX to exchange their bitcoin for cash? how long do they take to transfer the cash to your bank? coinbase and paypal are 4 days that's too long for me.
virwox has high fees but is extremely fast in trading out currencies without delays. if their withdraw-to-bank method is faster than paypal's 3-5 days then virwox might be the fastest.
I'm NOT sure whether Circle is available to you; however, Circle is nearly instantaneous, once you have a verified bank account and you connect a debit card to the account. Even though there are daily and weekly limits, there are NO fees for such transfers back and forth when you are accomplishing those transfers through a verified debit card.
However, it will probably take nearly a week to set up such an account and possibly to establish decent limits, yet Bitcoin should NOT be a rush job and since we have known about bitcoin for years, we should have already had these various accounts established... if NOT, you just have to create them as quickly as you can and attempt to get on this fast moving train.... or attempt to catch it at the next station.
(11-03-2015 12:25 AM)Satoshi Wrote: Ok I regret selling already.
should probably correct a bit soon though.
My girlfriend did the same thing at $350... fuck...
I kept trying to tell her over and over and over... that she does NOT understand and that this bitcoin thing is much different than other kinds of investments, and she is fucking stubborn.
Of course there are going to be downward corrections from time to time (and really for sure we do NOT know when those downward corrections are going to come)... however, we cannot really expect that a downward correction is inevitable.. that's what I kept attempting to explain to her... the fact that the price got manipulated back down in July from $317 to $192-ish, does NOT mean that it is going to be possible again.. but people start to take the bear market for granted and to believe that we are Never going to leave such market, but there has been a lot of downward manipulations by fucktwads for months and months and months - nearly two years....
In any event, the time seems right for the price to go back up, and the trend is just way too strong for anyone to deny.. we are going onto 12 weeks of higher than usual volume, and a lot of battles during those 12 weeks, and every time there are attempt to push the price down, the momentum remains up... people are running out of coins to sell.. and even great financial players either do NOT have the capital or the will power to keep fighting the trend reversal.
Personally, at this point, it is possible that we could get a significant correction, but really the trend is upward, and I would be surprised to find any price correction greater than $60 (15% or so)... from $378 to $320... that's only if you happen to be real lucky...
I think that there is too much at stake with some manipulators who are already pushing the price upward and so many others are seeming to jump on board, and it is probably even too late for the fed auction stake holders (taking place this Thursday) to affect the price in such a way to manipulate the price downward against this seemingly momentous upward piling on board.
After the performance over the past week and especially the past 36 hours or so, I cannot see why $500 is NOT within sight and within very reasonable possibilities to reach it within the coming three weeks or so.
Satoshi · 2015-11-03 02:46:00 · #2306
Don't get to excited now. Maybe your girlfriend did a good decision.