Sorry.... This month I mean.

(10-11-2016 01:59 PM)Satoshi Wrote:  I'd say $29.000 by the end of this year.

(10-11-2016 01:59 PM)Satoshi Wrote:  Sorry.... This month I mean.

Look what the cat drug in?

I'm sure that your "shorting the shit out of BTC" has been doing quite well, since $550, no?

(10-11-2016 02:17 PM)JayJuanGee Wrote:  

(10-11-2016 01:59 PM)Satoshi Wrote:  I'd say $29.000 by the end of this year.

(10-11-2016 01:59 PM)Satoshi Wrote:  Sorry.... This month I mean.

Look what the cat drug in?

I'm sure that your "shorting the shit out of BTC" has been doing quite well, since $550, no?

By the way, Satoshi, you getting margin called at $640, too, no?

https://www.rooshvforum.com/thread-21537...pid1365401


I know that a couple of months have passed since you supposedly placed that bet to short bitcoin in the mid $500s and the price has not really gone below that point, and so accordingly, after you placed the bet in early August, you may have decided to cut your losses, no?

Sure, it is quite amazing what perils a lot of us were feeling in those early days of August 2016 when Bitfinex communicated the loss of nearly 120k BTC, and it still remains quite amazing that bitcoin's market seems to remain quite resilient beyond these kinds of amazing and large scale failures within the bitcoin ecosystem.

Surely, Bitfinex has lost some of its trust in the bitcoin community, but no where near the levels of lost trust that some folks were predicting, even yourself, Satoshi were making assertions, such as "never" blah blah blah.. .

https://www.rooshvforum.com/thread-21537...pid1365488

We should realize that there is no "never" in any kind of market predictions, and bitcoinlandia experiences quite a few defiances of logic, yet if you study the fundamentals of bitcoin, you should come to the realization that there is no other asset class like it.. NONE.

Bitcoin has caused a paradigm shift in asset classes and continues to provide secure decentralized immutable value transfer/storage, and there is no other that comes close to it.. .at least not at the moment.

Don't get me wrong, Bitfinex surely has suffered an amazing and considerable loss of credibility, and it's actual loss of business funds seems to be much beyond any kind of reasonable business expectations for its recovery, yet Bitfinex is not providing that level of detail, or at least as far as I know they are not providing a lot of the details.

Nonetheless, Bitfinex has come up with some fairly innovative and creative ways to communicate a kind of solution and a road forward (and who the fuck knows if the actual solution that they proposed is not a continuation of a kind of scam?) Bitfinex's road forward has allowed a kind of rebound towards normalcy in the bitcoin space and has allowed for the seeming continuation of our upwards BTC price trend that began around August 2015. Any differing assessment?

I am not proclaiming any kind of knowledge or foresight regarding the short-term price direction of BTC, but in the past 16 hours or so, we have experienced a decent upwards price bump of about 5%, and it seems decently plausible that we could experience an additional 5% upwards before we experience a 10% downwards. At the moment, from my own experience and knowledge of the situation (which you can take with a grain of salt), I would place such odds of upwards 5% versus downwards 10% at about 58/42.. give or take a percentage or two.

Yeah I did close that position quite quick. Can't remember how much I lost though. Not much I reckon.

(10-11-2016 12:18 PM)JayJuanGee Wrote:  Sometimes with the passage of time, and reading the analysis and discussions of other folks, I get the sense that I may need to tweak my own conceptions regarding probabilities for another price bubble and the range of such an upcoming price bubble...

This is wise, and you should have stopped here.

Quote:Nonetheless, I think that I am going to continue to believe that $3k to $5k is our next price surge, but only after we make it passed likely resistances in the upper $600s and upper $700s.

You've been saying this for two years Jay:

(09-04-2014 02:48 AM)JayJuanGee Wrote:  In other words, I am getting the sense that bitcoin is NOT going to be getting too much attention until prices go beyond $800 or so... and my working theory remains that once prices go past $850 we are inevitably inbound for another exponential growth period that will shoot the price up to the $3k to $5k arena, and it could overshoot those estimates - especially given the length of the stagnation.

Anyhow, a question remains regarding how long will it take BTC to return to $850? and then to thereafter shoot past the previous all time high (which is the current all time high at $1163-ish). In my current thinking, it could take at minimum a couple of weeks to get to the $850 region and at the outside of the expectations about 9 months. Sure, there even exists potential for such a price burst outside of my anticipated timeline expectations.

What is the basis of this theory of a $600/$800 rocket ship to $5k? And when did you adjust the resistance down to upper 6's? We were in upper 6's as recently as what, late July? Near 8 right before that.

Hey, I'm all for it as I have a few coins floating around still, just would like know what leads you to believe this.

(10-12-2016 01:24 AM)Satoshi Wrote:  Yeah I did close that position quite quick. Can't remember how much I lost though. Not much I reckon.

O.k. Fair enough.

Even if your position had seemed to be opposite of mine, I am not in the position of wishing anyone to lose money, but then again, I personally remain very hesitant when it comes to leveraging assets in either direction in order to take a bitcoin position.

On the other hand, if a person becomes really confident about the movement of price in one direction or another, there could be some justification for actually engaging in leveraging of assets in those kinds of circumstances, even if risky.

(10-12-2016 02:13 AM)GlobalMan Wrote:  

(10-11-2016 12:18 PM)JayJuanGee Wrote:  Sometimes with the passage of time, and reading the analysis and discussions of other folks, I get the sense that I may need to tweak my own conceptions regarding probabilities for another price bubble and the range of such an upcoming price bubble...

This is wise, and you should have stopped here.

Possibly, you are misreading the context of my above assertion regarding a potential need to tweak my own conceptions about BTC prices?

I mentioned such possible needs to reconsider my own position based in part on a link to a bullish prediction of an upcoming BTC price surge of $9,588.

I admit that sometimes when I read these kinds of bullish predictions of other folks and some of the justifications for such predictions that are more bullish than my own, that reading can cause me to temporarily reconsider that I may need to take some of the analysis and/or facts into account and possibly come to some kind of other conclusion(s) regarding my own thinking or my predictions, but in the end, it seems that I tend to gravitate towards my previous predictions, in part based on some other real life factors that I believe are worthy of weight, and even including some unknowns that could cause rosey upwards price predictions to be a bit too bullish in my thinking.

I do like to read bullish predictions, but I realize that frequently such predictions need to be taken with a bit of a grain of salt and considered within a context that may be being discounted by the more bullish author.

I tend to be pretty bullish, but yeah, there are quite a few folks who are even more bullish than me, believe it or not?

(10-12-2016 02:13 AM)GlobalMan Wrote:  

Quote:Nonetheless, I think that I am going to continue to believe that $3k to $5k is our next price surge, but only after we make it passed likely resistances in the upper $600s and upper $700s.

You've been saying this for two years Jay:

I think that you are mostly correct that I have been saying something very similar for a couple of years regarding the next price surge in bitcoin going into the $3k to $5k price territory (that is when BTC prices finally pass the previous ATH and what would be the likely moment of such price movement, once it occurs).

I doubt that the fact that I have been saying some variation of the same thing for about two years signifies that I should back off from such views, or to concede being wrong, merely because it has not played out, yet.

Also, I am not of any kind of view that my $3k to $5k prediction is any kind of certainty, it is just a probability that changes to become more or less likely to take place based on what is going on in the space.. and seems to become less likely, for example, when prices move in the opposite direction - especially if such movement in the opposite direction is sustained for a considerable period of time.

I never claim to know anything regarding short-term BTC price directions, and as I have repeated on a number of occasions, I do NOT tend to leverage my bitcoin investment in any kind of way that I feel that I have to realize my BTC price prediction in any kind of time frame in order to benefit from having money in bitcoin.

Furthermore, I post in this thread on an ongoing basis for nearly three years because I am attempting to share my views and engage in discussions concerning the various viewpoints of RVF guys in respect to bitcoin. As can likely be read in my many posts, I have had a lot of ongoing fascination regarding bitcoin and what Bitcoin seems to offer to people..

Surely, for some time, I have considered bitcoin to be a paradigm changing phenomenon, even if there remains quite a bit of uncertainties regarding whether prices are moving in one direction or another.

Even though I post a lot in this thread, and some of my ideas will sometimes repeat, I am fairly confident that my views, opinions and insight regarding bitcoin have changed through the past three years, and some of those views are also experience based, so experiences inevitably tend to inform and influence views, too.


What is your views of bitcoin, Globalman? Do you have any money invested in Bitcoin? Are you shorting bitcoin? If you currently do not have any money connected to bitcoin, do you have any plans for future involvement in bitcoin in the event of certain scenarios?

(10-12-2016 02:13 AM)GlobalMan Wrote:  

(09-04-2014 02:48 AM)JayJuanGee Wrote:  In other words, I am getting the sense that bitcoin is NOT going to be getting too much attention until prices go beyond $800 or so... and my working theory remains that once prices go past $850 we are inevitably inbound for another exponential growth period that will shoot the price up to the $3k to $5k arena, and it could overshoot those estimates - especially given the length of the stagnation.

Anyhow, a question remains regarding how long will it take BTC to return to $850? and then to thereafter shoot past the previous all time high (which is the current all time high at $1163-ish). In my current thinking, it could take at minimum a couple of weeks to get to the $850 region and at the outside of the expectations about 9 months. Sure, there even exists potential for such a price burst outside of my anticipated timeline expectations.

What is the basis for maintaining this years long theory of a $600/$800 rocket ship to $5k?

I think that you are reading me wrong if you are attempting to suggest that I am locked into some kind of broken record thinking that ignores actual facts and merely spews out the same scenarios, over and over.

For example, any theory about where bitcoin is going to potentially go in the short term or long term is based on a series of probabilities, and guys are going to come to differing conclusions regarding how they view probabilities. Certainly, also, probabilities or future direction will also be somewhat dependent upon where we have been in the recent past.

For example, throughout 2014, when BTC prices went down from $1,200 to $200 and then in 2015, kind of got stuck in the $200s for more than 8 months, there is not really going to be short-term discussions of reaching $600 or $800 or $3k, even though reaching those kinds of numbers still might be in the mix of possibilities.. if we are floating in the $200, then the $3k to $5k ranges seems to be a lot less probable, at least in the short term.

Thereafter, in early 2016, when BTC prices were stuck in a range of about $360 to $460 for nearly 5 months, $3k to $5k may still be in the thoughts of probabilities, but there is a realization that there could be quite a bit of resistance getting to $500, $600 and $800. These are just realities of market dynamics of prices based on what is possible in the future based in part on where we are at in the moment of making the prediction.


Even if BTC prices do not reach upper ends of prediction peaks, Bitcoin has proven to be a very good investment for folks who may have been engaging in some kind of investment and accumulation strategy of BTC. Guys could have been successful investing over time, but since bitcoin is volatile, they also run a risk of losing money by timing their investment badly or taking a strategy that is ill-suited to their situation. Sure, results could definitely vary, and surely folks are not going to follow exactly any particular route that another person takes, and I am not even saying that anyone should do what I am doing, unless he believes it may be suitable to his own circumstances. So, in the end, each guy should tweak his investment into bitcoin or whatever or not to his own situation while balancing his other investments, his viewpoints and financial means (amongst other possible individual factors).

(10-12-2016 02:13 AM)GlobalMan Wrote:  When did you adjust the resistance down to upper 6's?

Bitcoin remains a moving target, so resistance is not going to be locked into any particular price points.


So for example, if BTC prices go down to upper $400s in a downward spike (like it did in early August 2016), and then gets caught in a $550 to $630 price range for a couple of months (like it did from early August 2016 to present), then the previous support that may have been in the upper $600 may become resistance. That is just part of the dynamics of markets, and I am not making shit up. I am merely attempting to identify what I believe to be actual current BTC price dynamics based on what I perceive to be current BTC market conditions that are going to change with the passage of time and the passage of events (and previous BTC price movements).


At the same time, I am not claiming to be any kind of BTC price expert, but just sharing views and attempting to get feedback from others in order to attempt to figure out whether I should change my own views or not.

(10-12-2016 02:13 AM)GlobalMan Wrote:  We were in upper 6's as recently as what, late July? Near 8 right before that.

Yes. You can look at the recent historical BTC price charts as easily as I can.

For the most part, for the first 5 months of this year BTC prices floated largely between $360 and $460, and there are various reasons for that price range, but in late May 2016 until about mid June 2016, BTC prices went up to nearly $800 (in a short lived spike), in what was fairly quick upward movement but the upward price movement took place on relatively low trade volume.

Through late June and into late July, BTC prices corrected into mid to upper $600, and then experienced a fairly large downward correction that spiked down to the upper $400s in early August that coincided with the Bitfinex hack of nearly 120k coins. Thereafter, between early August 2016 to present, BTC prices largely floated in the $550 to $630 price range. And, so currently, we are barely getting passed the upper end of the recent BTC price range.

So, yeah, if we look at bitcoin price history we are going to have 20/20 vision when we are predicting what was the past price performance.

On the other hand, if we are attempting to predict probabilities of future BTC prices, which is a bit more difficult, then we are going to make differing price predictions based upon where prices are at, where they were, and based on what the recent events may have been or what the known upcoming developments may be. All of these factors, help us to arrive at probabilities of the future, and likely guys are going to come to varying conclusions regarding how they view probabilities and how much weight to give each of the varying probable scenarios.

Further, my prediction of what I believe is probable this week may vary from what I am going to determine to be probable next week, and part of the change in my prediction will be based on the moving target and what the moving target has done between now and then. I also sometimes tweak my holdings based on changes in my viewpoint, even though I largely have a strategy that does not change too much from one week to the next, but may have to be reconsidered if there are major unexpected developments.

Again, anyone have any BTC price predictions? or BTC strategy recommendations or sharing of BTC related experiences? Globalman, you got anything?

(10-12-2016 04:12 AM)JayJuanGee Wrote:  Do you have any money invested in Bitcoin?

I do, as I said in my post. They are the remainder of the coins I bought in 2012. A large chunk I sold off in '14.

Quote:Are you shorting bitcoin?

No, not my thing.

I've held and sold a bit here and there. When we get to around 8 I'll be tempted to liquidate a substantial portion again.

(10-12-2016 02:13 AM)GlobalMan Wrote:  

(10-11-2016 12:18 PM)JayJuanGee Wrote:  Sometimes with the passage of time, and reading the analysis and discussions of other folks, I get the sense that I may need to tweak my own conceptions regarding probabilities for another price bubble and the range of such an upcoming price bubble...

This is wise, and you should have stopped here.

Quote:Nonetheless, I think that I am going to continue to believe that $3k to $5k is our next price surge, but only after we make it passed likely resistances in the upper $600s and upper $700s.

You've been saying this for two years Jay:

(09-04-2014 02:48 AM)JayJuanGee Wrote:  In other words, I am getting the sense that bitcoin is NOT going to be getting too much attention until prices go beyond $800 or so... and my working theory remains that once prices go past $850 we are inevitably inbound for another exponential growth period that will shoot the price up to the $3k to $5k arena, and it could overshoot those estimates - especially given the length of the stagnation.

Anyhow, a question remains regarding how long will it take BTC to return to $850? and then to thereafter shoot past the previous all time high (which is the current all time high at $1163-ish). In my current thinking, it could take at minimum a couple of weeks to get to the $850 region and at the outside of the expectations about 9 months. Sure, there even exists potential for such a price burst outside of my anticipated timeline expectations.

What is the basis of this theory of a $600/$800 rocket ship to $5k? And when did you adjust the resistance down to upper 6's? We were in upper 6's as recently as what, late July? Near 8 right before that.

Hey, I'm all for it as I have a few coins floating around still, just would like know what leads you to believe this.

(10-12-2016 04:45 AM)GlobalMan Wrote:  

(10-12-2016 04:12 AM)JayJuanGee Wrote:  Do you have any money invested in Bitcoin?

I do, as I said in my post. They are the remainder of the coins I bought in 2012. A large chunk I sold off in '14.

Your strategy seems to be a bit different than mine, but possibly part of the reason for the different strategy is based on when you got into bitcoin.

Yet, also, part of your different strategy may be based on your different approach to investing, possibly. I tend to approach a lot of my investments from a dollar cost averaging perspective, and with the passage of time and the accumulation of whatever is my investment (asset), I tweak my strategy from there.

(10-12-2016 04:45 AM)GlobalMan Wrote:  

Quote:Are you shorting bitcoin?

No, not my thing.

At the time being, we seem to share that part. I tend to open and close longs, so I have never gotten into shorting of anything, so far.

(10-12-2016 04:45 AM)GlobalMan Wrote:  I've held and sold a bit here and there. When we get to around 8 I'll be tempted to liquidate a substantial portion again.

Yeah, guys come to differing decision points regarding how much to cash out and at what price points, and surely, $800-ish could be a decent point for cashing out decent portions of ones holdings.

I don't think that my plan for cashing out BTC is very solid because in about the past year, I have been cashing out incrementally, and I kind of like that approach, even though I am continuing to learn along the way... accordingly, I sell on the way up and buy on the way down.

Yet, currently, in my bitcoin portfolio, I am about 95% BTC and 5% fiat.

If BTC prices were to shoot up to $800, my current tentative plan only causes 92/8, and even if BTC prices were to shoot up to $2,500, my current tentative plan appears to only allow for 88/12, so it is quite likely that I would end up needing to tweak somewhere along the lines depending upon how BTC prices were to move and if they were to shoot up.

Anyhow, since my sell plan is not very solid, I could end up deciding to allocate a bit higher percentage towards fiat if I believe that the price movements justify such and it seems to fit my then considerations of the matter.

(10-12-2016 02:13 AM)GlobalMan Wrote:  

(10-11-2016 12:18 PM)JayJuanGee Wrote:  [edited out]

Hey, I'm all for it as I have a few coins floating around still, just would like know what leads you to believe this.

For some reason , I had not seen this part of your earlier post, and yeah, it is nice to see that guys have various stakes in bitcoin, even if their viewpoints could be quite different from my own.

I found the below linked article to be interesting and topical concerning current attempts at counting categories of bitcoin users and attempting to recognize trends in various parts of the bitcoin ecosystem.


https://cointelegraph.com/news/counting-...coin-users

(10-12-2016 12:16 PM)JayJuanGee Wrote:  I found the below linked article to be interesting and topical concerning current attempts at counting categories of bitcoin users and attempting to recognize trends in various parts of the bitcoin ecosystem.


https://cointelegraph.com/news/counting-...coin-users

Considering this new information, I'd say $290.000 by the end of the week. We all know cointelegraph is reliable.

(10-12-2016 02:10 PM)Satoshi Wrote:  

(10-12-2016 12:16 PM)JayJuanGee Wrote:  I found the below linked article to be interesting and topical concerning current attempts at counting categories of bitcoin users and attempting to recognize trends in various parts of the bitcoin ecosystem.


https://cointelegraph.com/news/counting-...coin-users

Considering this new information, I'd say $290.000 by the end of the week. We all know cointelegraph is reliable.

You seem to be back to your non-sensical and non-substantive trolling ways.

Do you have anything related to bitcoin that you want to add to the thread or to discuss in a grown-up way, or do consider mockery to be a kind of substantive contribution in your own deluded thinking?

(10-12-2016 02:18 PM)JayJuanGee Wrote:  

(10-12-2016 02:10 PM)Satoshi Wrote:  

(10-12-2016 12:16 PM)JayJuanGee Wrote:  I found the below linked article to be interesting and topical concerning current attempts at counting categories of bitcoin users and attempting to recognize trends in various parts of the bitcoin ecosystem.


https://cointelegraph.com/news/counting-...coin-users

Considering this new information, I'd say $290.000 by the end of the week. We all know cointelegraph is reliable.

You seem to be back to your non-sensical and non-substantive trolling ways.

Do you have anything related to bitcoin that you want to add to the thread or to discuss in a grown-up way, or do consider mockery to be a kind of substantive contribution in your own deluded thinking?

Personally I think it's kind of funny, JJG. That's not to say I don't enjoy reading your links, but it's nice to have some levity in this thread once in a while.

Maybe my last prediction was a bit too optimistic. But I'm confident that we will reach $700 by the end of this month. If it doesn't happen if say before the end of this year, by latest. If not, before the end of 2017, for sure. After we pass $700 it's.not far to $29.000.

(10-14-2016 06:25 AM)Satoshi Wrote:  Maybe my last prediction was a bit too optimistic. But I'm confident that we will reach $700 by the end of this month. If it doesn't happen if say before the end of this year, by latest. If not, before the end of 2017, for sure. After we pass $700 it's.not far to $29.000.

Yes. That is more or less how predictions go, so why make a parody out of the process?

By the way, I have not tried to identify exact timelines on my predictions, but I suppose if I did, it could look something like your parody.

Let's get back to reality for a second. What's your actual prediction? negative?

I would not mind putting forth an actual prediction if anyone is interested, but sure my predictions are a bit amorphous too, with a range of probabilities.

So, for example, for any particular timeline, let's say 6 months, for example, I might assert a prediction that is something like the below. I put this together quickly, so I am not sure if it may be a bit contradictory, or maybe I could tweak it a bit to be more accurate with my actual thinking at the moment (for example, maybe my prediction should add up to 100%?).

0-$200 - less than 2%
$200-$400 - less than 10%
$400-$600 - about 42%
$600-$680 - about 50%
$680-$850 - about 58%
$850-$3000 - less than 12%
$3000-$5,000 - less than 2%
greater than $5,000 - less than .05%

(10-12-2016 08:16 PM)booshala Wrote:  

(10-12-2016 02:18 PM)JayJuanGee Wrote:  

(10-12-2016 02:10 PM)Satoshi Wrote:  

(10-12-2016 12:16 PM)JayJuanGee Wrote:  I found the below linked article to be interesting and topical concerning current attempts at counting categories of bitcoin users and attempting to recognize trends in various parts of the bitcoin ecosystem.


https://cointelegraph.com/news/counting-...coin-users

Considering this new information, I'd say $290.000 by the end of the week. We all know cointelegraph is reliable.

You seem to be back to your non-sensical and non-substantive trolling ways.

Do you have anything related to bitcoin that you want to add to the thread or to discuss in a grown-up way, or do consider mockery to be a kind of substantive contribution in your own deluded thinking?

Personally I think it's kind of funny, JJG. That's not to say I don't enjoy reading your links, but it's nice to have some levity in this thread once in a while.

Sure... yeah.. I don't see anything wrong with some levity and even sporadic trolling, but it should be evident that Satoshi has been fairly persistently trolling since about December 2015, which seems to correlate with a time period after his stupid-ass decision to sell all his BTC in the mid-$200s in August/September.

I find nothing wrong with being bearish on bitcoin or against bitcoin in various ways and even contributing such bearish perspectives to this thread, but the reality of the matter is that (coming on a year now) Satoshi has tended to contribute almost no value to this thread with his snide remarks (once in a while coincidentally relevant remarks, but mostly NOT) that seem to be merely directed at making fun out of any kind of rational bitcoin discussions, and seemingly especially directed against rational bullish bitcoin discussions.... and also seemingly directed at distracting from meaningful and rational bitcoin discussions in any direction.

So, yeah, Satoshi's snide trolling comments can be a little bit funny in the abstract, and sure, I see some abstract funniness in those comments too (especially recognizing some of the apparent desperate and immature desires that trolls have to be correct or to control the direction of discussion... and in that sense there can be some funniness with the "contributions" of trolls), but there are also possibilities that actual RVF members can be mislead and even discouraged by Satoshi's ongoing trollish and non-substantive contributions in this thread - especially if no one attempts to respond to some of the misleading implications and inferences of his seemingly "butt hurt" "humor."

(10-06-2016 06:13 PM)JayJuanGee Wrote:  Below is a link regarding a six episode video series about bitcoin that is supposed to begin to come out on October 10 and be completely released within that same week.

https://techcrunch.com/2016/10/06/trust-...de-series/

The content description in the article and the trailer seems interesting.

Over this week, I have watched all 6 episodes of this series. The episodes were released throughout this week, starting on Monday, and they are about 7-8minutes each episode.

The contents of the series is fairly introductory but still seem to be fairly accurate, informative and interesting as a set of coherent current bitcoin perspectives.

The below linked article talks about November 15, 2016 as a tentative release date for Segregated witness.


http://www.newsbtc.com/2016/10/18/bitcoi...wit-ready/

As the article seems to indicate, there are likely not going to be a lot of noticeable short term changes, yet I would expect over the next year or so, little by little, we are going to witness more and more interesting and innovative contribution to bitcoin that are built to take advantage of various segregated witness attributes.

Maybe various example of such development is described within the below article?

https://bitcoinmagazine.com/articles/aft...1476814566

I wasn't trying to buy some bitcoins but the exchange was asking for a picture of my ID. It feels shady as fuck, is this normal procedure ?

I'd prefer to buy some without having to give up my DL Will any of you guys be willing to sell me 100 USD In bitcoins? I can do google wallet, PayPal, chase quick pay or bank deposit.

Thanks.

(10-18-2016 05:25 PM)Cattle Rustler Wrote:  I wasn't trying to buy some bitcoins but the exchange was asking for a picture of my ID. It feels shady as fuck, is this normal procedure ?

I'd prefer to buy some without having to give up my DL Will any of you guys be willing to sell me 100 USD In bitcoins? I can do google wallet, PayPal, chase quick pay or bank deposit.

Thanks.

What exchange are you talking about?

The truth of the matter is that exchanges (especially those located in the USA) are more and more inclined towards complying with various kinds of anti-money laundering (AML) and know your customer (KYC) regulations, and even sometimes seeming to go above and beyond minimum requirements. Some exchanges outside of the USA will either not do business with folks in the USA or will treat USA customers more rigorously in regards to AML/KYC as compared with non-USA customers.

Anyhow, it seems kind of strange to come to a conclusion that exchanges that are engaged in AML/KYC practices are "shady as fuck." It is probably more logical yet not necessarily even an accurate conclusion to consider that avoidance of AML/KYC could lead to more possibilities of "shady as fuck" conduct.. In any event there are dynamics in the bitcoin space and tension in regards to privacy questions.

With regard to my involvement in bitcoin, I tend to have various bitcoin accounts that are more highly regulated and some of my accounts that are less regulated, and if I were going to attempt to get some bitcoins that are less connected with any kind of AML/KYC requirements, then I would go through Local Bitcoins, and find someone to make a direct in-person exchange.

Even some folks on local bitcoin may be worried about AML/KYC applying to them, but surely some of the folks will not require to see any identification from you. I buy and sell on Local bitcoin's quite a bit, and I don't require to know the folks that I am dealing with.. although, maybe it could get me in trouble to be so lax when I am engaging in such activity so frequently?

My general practice is to do my first transaction officially through Local bitcoins, and then I get to meet the person, and then thereafter, I will transfer coins and dollars back and forth directly using any kind of bitcoin wallet ( I personally use blockchain.info for such direct transactions).

Sure, you may be successful in finding an RVF guy who will do a bitcoin transaction with you, especially since you only want to do a small amount. Personally, I believe that there are easier ways to obtain bitcoin, without any RVF guy having to take any kinds of risk of not being paid because they are engaging in potentially reversible transactions.

But, yeah, sure you are likely good for the $100, and if I did it, I would want to clearly be sure that I received your $100 before I sent you any bitcoin, but that is just me... and I am more nervous about the reversibility of fiat versus the non reversibility of bitcoin.

There are even some folks on Localbitcoins that engage in various kinds of payments, besides in-person cash, but I think that I kind of learned my lesson with those other kinds of payments when one of my Venmo transactions got reversed after I sent the bitcoins even though I thought that the Venmo terms of service said that their transactions were not reversible. Personally, until there are some better mechanisms in place, I am not going to deal with non-cash payments for bitcoins, unless maybe it was a relative or something like that (or some person that I knew how to contact in real life).

The below article seems to have a decent discussion of bitcoin's current price dynamics... at least somewhat.

https://cointelegraph.com/news/bitcoin-p...-above-640


The essence is that there is a kind of area between $660 – $710 in which they expect the next pause of upwards momentum, well that is if we get above $640s..

On the other hand, at this point, I would expect decent support anywhere below $620.. though yeah, sure we could get below $610 too, and maybe support would be even greater... hahhahahaha

A still place odds a bit more in favor of upwards by 5% rather than downwards by the same... but since we just came from $610s, there is likely a bit less resistance to get back down to there, too... .. so maybe the question should be is whether 5% upwards is slightly more likely than 10% downwards.... which I would still weigh a little more in favor towards the upwards direction..

Anyone else?

A Bitcoin ATM opened up here in Sao Paulo, Brazil. It's easier to use than a regular ATM. Just show your QR code, and slide money into the slot. I was notified that the bitcoin was in my wallet before I had my phone back in my pocket. Fees as of this post: Buy 10.7%, Sell 1.2% from Bitcoin Average. Those fees will change. I suspect it may pressure the local buying and selling of Bitcoin in person.

The lady that works there told me that the machine is very, very popular.

You may be able to find a nearby ATM with https://coinatmradar.com/

Example:

The below-linked article describes the ECB (which I believe is European Central Bank) as wanting to fight against bitcoin and other crypto currencies.




http://www.prisonplanet.com/ecb-wants-to...upply.html


Is that news bearish, or bullish? I would think that the news is more bearish than bullish, yet a question remains whether such seemingly bearish news is going to have a bearish impact upon the price of bitcoin?

Apparently, according to the article, the ECB made a very similar observation in 2012, and then what happened in 2013? Maybe we are about to have another BTC price explosion, in the upwards direction? Any thoughts?