Someone ping JJG tell him to come give us and update. Panic sell or panic buy?

SOMEONE IS DUMPING AND It'S NOT ME!

(01-05-2017 07:22 AM)Sooth Wrote:  

(01-05-2017 07:12 AM)JayJuanGee Wrote:  

(01-05-2017 04:22 AM)Sooth Wrote:  All the ideas I have in tech (I'm a robotics engineer) I can see opportunities for building bitcoin into them.

What is the easiest non scam way for me to chuck a few grand into bitcoin and just have it sitting? There are a lot of really suspicious people out there proselytizing cryptocurrency!

I'm going to need some bitcoin to play with in the future so may as well start now. I heard Andreas Antonopoulos on the JRE, should I just do what he says?

I think that Andreas uses Coinbase to cash out, when he needs fiat, but he also frequently attempts to get paid in bitcoin.

I think the easiest non scam ways are to hook your bank up to some account like coinsbase or some other exchange that may be in your location .. you are in new zealand?

Yeah I am, I'd be a little hesitant to hook up a bitcoin wallet with my bank as that seems somewhat counteractive?

One of the main reasons bitcoin is so attractive to me is because it bypasses the banks!

In the end, you need to set up and research into various ways to get bitcoins in a way that is comfortable for you and that you also have a variety of liquidation options... that is my opinion.

My opinion is that guys are more empowered by bitcoin when they set up various wallets and BTC holding locations in a variety of ways and hold their bitcoins in those locations to increase options and flexibility regarding how to use it. In that regard, depending on location, you may have some limitations in ways into bitcoin (and even ways out of bitcoin), but once you get in, you definitely have a lot more (and ever increasing) options where and how to hold your coins and how to manage them after you have already acquired them.


Also, even if you have one or two bitcoin related accounts that are linked to banks, that does not mean that it is necessarily a good idea to either hold your coins at that location or to only use that one location. You mentioned Andreas Antonopolis, and I had also heard him talk about the topic. He has some accounts that are linked to banks and he uses those accounts to his advantage and convenience - but he has also asserted that he keeps a vast majority of whatever he is holding outside of those locations (it seems to be a kind of utilitarian perspective regarding attempting to get the most advantage out of how to use those resources as they exist in todays real world and sometimes having to transfer in and out of fiat for some purposes).

Once you get your money into bitcoin, and you have several wallets set up (which I would recommend), it is relatively easy, quick and inexpensive to move your coins from one location to another and then be able to use them completely without the bank, except maybe to the extent that you may want to use the bank to cash to fiat or to buy in through that means from time to time.

There is a bit of a learning curve with bitcoin (and probably even a need for more user friendly methods of managing and using your coins), however, it still seems a good thing to learn about and to establish various BTC holding locations that are comfortable for you, once you accumulate some coins (which there are quite a few options to achieve that to, but some of the available options may be location dependent).

(01-05-2017 08:16 AM)NewMeta Wrote:  http://www.zerohedge.com/news/2017-01-05...tervention

Apparently China has made a statement regarding capital controls of virtual currency causing (i think) Chinese holders to start selling off, so Bitcoin is dropping quite alot now, will see where it ends up settling.

Edit: It just fell below 900 dollars, and still dropping.

I think that sometimes it can take a bit of time to figure out what triggered a correction. The correction was certainly needed after going from lower $600s to mid $1100s in about three months without any meaningful correction.

This certainly would classify as a meaningful correction, but I think that we are still in the short term assessment regarding where prices are going to go from here.

I am still kind of reassessing my own personal holdings after the blood bath of a megadump... so in the coming hours I am going to have to reassess each of my accounts and to reset my various orders... and maybe come up with an assessment that is comfortable for me... but I think that there is also some wait and see here at this point, too.

(01-05-2017 11:36 AM)Satoshi Wrote:  Gentlemans, remember to buy the dips, buy the dips!

You know even though you are coming with a patronizing and disingenuous trolling tone, I still find that it can be helpful to respond to some of your nonsense... just to help a bit with context, just incase some folks may miss your butt-hurted judgemental opportunisms.

Yes, we remain in a bullish uptread, so it is likely a good ongoing plan to continue to buy on dips.. and what we witnessed this morning was a dip and really a megadump, so likely a pretty decent buying opportunity if you were able to catch it anywhere between $885 and $940.. The lower end of that range would have been highly lucky.

Anyhow, merely because those were good buying opportunities does not conclude that the dump is over or that we are going up from here. It is possible that we could have a couple of months of flat or even dumping. We have to remember from where we came and that is no correction for about 3 months and an upward movement from the lower $600s to the mid $1100s without any meaningful correction. This correction was likely a good thing, and it may not be done and it is possible to correct all the way down to $600 (and possibly even below that) and to stay in a more or less bull uptrend.

(01-05-2017 11:36 AM)Satoshi Wrote:  Oh this is going to be good.

These kinds of violent movements (even though kind of shocking while they are occurring) are kind of part and parcel of bitcoin's history and part of it's current condition with a fairly small market cap, prices set on exchanges and various abilities to manipulate prices (and likely benefit from such manipulations) with relatively small amounts of capital.

So, your wishfulness that others lose money seems to be more wishful than it does tied to any kind of meaningful attempt to contribute to a conversation about possible BTC price directions and possible strategies that guys may consider.

(01-05-2017 11:41 AM)Satoshi Wrote:  Someone ping JJG tell him to come give us and update. Panic sell or panic buy?

Again, I think that guys should attempt to create buy/sell strategies in regards to bitcoin in order that they do not panic during these kinds of times (like you had done when you panic sold at $250-ish right before the beginning of our current bull run).

Probably guys are going to come at these matters with differing approaches and mindsets, and there is nothing wrong with that. Sometimes you can gamble a bit here and there about short term directions, but in the longer term, we still have to recognize that bitcoin is likely to go up (sure it is not inevitable, as with anything in this world).

My ongoing approach continues to be a kind of incrementalism, so in the coming days, based on this quite rapid and violent price occurrence , I do have to go through and reset some of my buy and sell orders , and maybe even reconsider my thoughts on short term price directions, which are likely going to play out in the coming hours and days and we can kind of see what is happening and maybe make a few additional adjustments based on how the ramifications of the megadump plays out in the shorter term.. and then figure out whether more dumping, flat or continued uppity is likely in the medium term.

(01-05-2017 11:41 AM)Satoshi Wrote:  SOMEONE IS DUMPING AND It'S NOT ME!

Well, I thought that you may have came in here to tell us that you had entered into a leverage short, but probably you were already squeezed on that or forced to close it when you likely entered such a leveraged short in the $700s or $800s or so .. but yeah, you may not want to admit to that.. so you remain butt hurt and want to come into this thread and attempt to find some solace in quasi-retarded emotion-laden trolling.

Actually, since you seem to be kind of watching the markets in this bitcoin matter, and if you were a little smarter, you may have at least recognized an opportunity to buy a little in the $885 to $940 range. Not that it is a sure deal to be profitable in the longer term or anything, but with your level of already knowing about bitcoin and its history, you should have at least recognized some ability for short term profits in that situation (but instead, apparently, you have let your dumbass and emotion laden perspective rule you and taken a "principled" position to never go long on bitcoin again... seems a bit much in the denial of reality, but sure, you can live your life and your various "investments" - or should I say gambling in your case - how you see fit)

I find these kinds of high market cap conversations to be interesting.

This below linked thread discusses bitcoin with a $2.6 trillion dollar market cap, which would be about a 162x increase in todays current market cap that is floating around the $16 billion territory as I type... therefore instead of $1k per coin, bitcoin would approximately $162k per coin.

Possible?


https://www.reddit.com/r/Bitcoin/comment..._possible/


Here's a nice little colorful chart showing bitcoin's price based on a variety of possible (speculative) scenarios.


https://twitter.com/mmjtrader/status/814255233769541633

See below link.

Even some of the big blocker nutjobs are coming around to understanding a variety of benefits of implementing and activating Seg wit for bitcoin to go forward to make bitcoin "great again"... haahhahahaha.. not that bitcoin was broken or anything like that.

https://twitter.com/brian_armstrong/stat...0253988865

Congrats to everyone who sold at $1000+. Hats off.

Just a small dip before we continue towards $29.000

(01-06-2017 07:07 AM)Satoshi Wrote:  Congrats to everyone who sold at $1000+. Hats off.

I did.... haahahahahaha.. and bought back, too...

(01-06-2017 07:12 AM)Satoshi Wrote:  Just a small dip before we continue towards $29.000

More or less that is correct.

We are having a correction that could be shallow or deep.. short term or long term.

Also, $29k is possible in the coming months or years, but it is a bit of a longer shot in the opinions of most folks... so it seems to be not really good to structure your life and/or your investments around long shots or super long shots.. and talk about them as if they are more probable than reality.

One way to look at the matter is if you were to invest $100 into bitcoin, that $100 could go to zero or it could go to $15k or more, but the possibility of it going to $15k or more is pretty small, so therefore, you should invest accordingly.. and consider that the higher the upside number the harder and less likely it would be to reach such number (also bitcoin swings frequently overshoot and go in unexpected directions from time to time), but if you don't leverage or take out a loan, then the most you can lose is 100%, unless you do something dumb (or should I say lacking in some judgement) like Satoshi and engage in heavy betting in the one direction or another (which could end up being wrong). If you do that leveraging thing, then you may lose more than your initial investment and become a bit butt hurt, just like Satoshi seems to be on an ongoing basis.. and can't even seem to get over it... so he comes in here to taunt.

(01-06-2017 04:01 PM)JayJuanGee Wrote:  

(01-06-2017 07:07 AM)Satoshi Wrote:  Congrats to everyone who sold at $1000+. Hats off.

I did.... haahahahahaha.. and bought back, too...

Lol you bough at $1000+

(01-06-2017 06:51 PM)Satoshi Wrote:  

(01-06-2017 04:01 PM)JayJuanGee Wrote:  

(01-06-2017 07:07 AM)Satoshi Wrote:  Congrats to everyone who sold at $1000+. Hats off.

I did.... haahahahahaha.. and bought back, too...

Lol you bough at $1000+

Apparently, you don't understand certain concepts that may not comport with your own way of doing things.

I have staggered orders, and bitcoin was above $1,000 for several days, so yeah, I bought several times above $1,000.. I also sold several times above $1,000 and my highest sell was at $1169.

It is called selling as the price goes up and buying as the price goes down with the proceeds from the sales... buy lower than you sell.

There are a variety of other strategies too, but those may be a little bit too much for you to handle with your apparently simplistic thinking.

By the way, similar to you I sold at $250, but instead of selling all of it (like you did), I sold only tiny fractions of my holdings (and then I would buy them back when or if I could), so therefore I sold a lot of coins between $250 and $1,169 in the past 15 months (yet some of those coins were left on the table because price has not dropped below my sales price). Nonetheless, I still have more coins than what I started with and a similar level of investment (go figure???) .. and also a pretty decent stack of fiat that recently has tended to float between about 3% and 10% of the value of the BTC holdings... currently around 6%)

(01-05-2017 04:02 PM)JayJuanGee Wrote:  Yes, we remain in a bullish uptread, so it is likely a good ongoing plan to continue to buy on dips.. and what we witnessed this morning was a dip and really a megadump, so likely a pretty decent buying opportunity if you were able to catch it anywhere between $885 and $940.. The lower end of that range would have been highly lucky.

I feel so stupid that I didn't buy at $940. Will I every get that chance again?

(01-07-2017 02:26 AM)Satoshi Wrote:  

(01-05-2017 04:02 PM)JayJuanGee Wrote:  Yes, we remain in a bullish uptread, so it is likely a good ongoing plan to continue to buy on dips.. and what we witnessed this morning was a dip and really a megadump, so likely a pretty decent buying opportunity if you were able to catch it anywhere between $885 and $940.. The lower end of that range would have been highly lucky.

I feel so stupid that I didn't buy at $940. Will I every get that chance again?

I said that you should have seen an opportunity to buy below $940 (on the first leg of the dump)...

Anyhow it does not really matter too much.

You should probably feel stupid for other reasons but not merely because you didn't buy on one particular dip... when you seem to currently have no BTC stake at all.. I don't even think you are shorting anymore. You just to seem to be hanging out in this thread because you want to say "I told you so" and make various non-contributions without actually having any current stake (beyond your seemingly ongoing butthurtedness and associated emotional baggage)

First class entertainment watching JJG pumping and dumping. $60 up today. Should we buy buy buy?

(01-07-2017 06:09 AM)Satoshi Wrote:  First class entertainment watching JJG pumping and dumping. $60 up today. Should we buy buy buy?

RVF guys should figure out something that is comfortable for them in regard to their BTC holdings. For example, it would have been pretty profitable to sell a lot of BTC in the $1,100s and even approaching $1200 in some exchanges, and to buy as low as upper $700s in some exchanges, but if the price had gone up from there, it would have been a bad strategy to have sold too many of the BTC.

Well, I have active buy/sell orders on 5 exchanges, so I have been pretty active in this volatility including the rapid "$60 up", which was really nearly $100 up, depending on the exchange.

I had buy orders fill in approximately $20 intervals all the way down to $790, and I sold in $20 intervals all the way up between $840 to $894.. and now price is dropping again, so I had a few buy orders fill at about $860 and then more buy of my buy orders are set between $810 and $860 and below - depending on which exchange, and I have sell orders set between $840 and $890 and above.

Yeah, lots of volatility in the past few days so a lot of orders are filing - maybe too many.

I am figuring that later, when my BTC related profit cushion likely becomes larger, I will spread out my buy and sell intervals larger to trade quantities of BTC on much larger spreads. I am still kind of in a more micro BTC accumulation phase with my trading (and even attempting to protect my overall holdings from some of the crazy ass volatility that seems to be part of bitcoin's history and near term and maybe even longer term future - depending on how high it's market cap gets).

Actually my profit levels could be larger if I were able to really guess the correct price direction, but I try not to guess too much. So, my BTC related profits were nearly 170% when BTC prices were at their highest levels in the mid $1100s a few days ago, but my BTC portfolio dropped in value to only about 90% profits earlier today, yet currently, since the price rebounded, my current profit levels are floating around 100% (when prices are $860-ish - which means my average cost per BTC is currently about $430-ish... but that floats a bit too and was as low as $415 earlier in the week.,. but my average cost per BTC kind of went up when I am buying quite a few coins in the past few days between $790 and nearly $1100 - which is higher than my average cost, so it goes up a bit. hahahahaha)..

So yeah lots of BTC trading action and volatility in recent weeks (and especially the last few days). Profit levels are not exactly locked in and it is a very much moving target, and in retrospect it is starting to appear that the BTC price battle began about 3 weeks ago, and it is likely to continue.. possibly 20 weeks or longer (could be a shorter period of this price battle too.. or maybe it will last longer... not sure... , just trying to flow with the punches and giving rolling assessments along the way).

I do have a pretty decent level of confidence that the battle is kind of intensifying, and I get a sense that the odds are a bit in favor of the bulls winning this battle, but since it could drag out for an extended period of time, and a lot of bear resources could be put into this , it is possible that the price could go down at some point and maybe even dip into the $600s or lowers (which still may keep us in this ongoing bull run). Either way, I am going to attempt to protect the value of my BTC holdings and stick with what seems to be a pretty decent and profitable trading strategy.

Good luck to RVF guys out there who are actually actively involved in attempting their bitcoin strategy or contemplating getting involved... We gots ourselves a lot of action and a lot of excitement going on in BTC space.. with amazing levels of trade volume currently... of course there is other stuff going on in BTC too.... but price changes do seem to get quite a bit of attention from me and others in the BTC space..

Interesting that in Peter Schiffs latest YT videos - at the end have him talking about the fact he merged his Schiff Gold company with GoldMoney.com

https://youtu.be/UebmA0f0w8Q

This Video discusses the current economy and the boom in Bitcoin speculation inflated value and the best way to hedge on Bitcoin bubble valuations is to buy some real gold money with the BCs. Goldmoney.com

Good way to take some profits in a stable manner in this BC rally.

I have some dental bills on some expensive implants however after I am at maintenance on the dentition I plan on opening a Gloldmoney.com account which I believe is based out of Canada... home of some of the safest Banks on the Globe. BC has had a huge move on the back of Chinese buying to diversify out of their Red Communist Chinese manipulated Yuan-Renminbi.

Per Schiff: BC not a stable long term store of value for people looking for an alternative to Government manipulated or electronically speculated currencies.

Perhaps digital currencies of the future can be backed by almost anything - your stocks or real estate wealth - Gold or Silver ... even though BC is theoretically limited there is NO LIMIT to new Digital Currencies.

GoldMoney.com even has a partner program for you on-line entrepreneurs...

https://www.goldmoney.com/partners

(01-07-2017 02:26 PM)Deepdiver Wrote:  Interesting that in Peter Schiffs latest YT videos - at the end have him talking about the fact he merged his Schiff Gold company with GoldMoney.com

https://youtu.be/UebmA0f0w8Q

This Video discusses the current economy and the boom in Bitcoin speculation inflated value and the best way to hedge on Bitcoin bubble valuations is to buy some real gold money with the BCs. Goldmoney.com

Good way to take some profits in a stable manner in this BC rally.

I have some dental bills on some expensive implants however after I am at maintenance on the dentition I plan on opening a Gloldmoney.com account which I believe is based out of Canada... home of some of the safest Banks on the Globe. BC has had a huge move on the back of Chinese buying to diversify out of their Red Communist Chinese manipulated Yuan-Renminbi.

Per Schiff: BC not a stable long term store of value for people looking for an alternative to Government manipulated or electronically speculated currencies.

Perhaps digital currencies of the future can be backed by almost anything - your stocks or real estate wealth - Gold or Silver ... even though BC is theoretically limited there is NO LIMIT to new Digital Currencies.

GoldMoney.com even has a partner program for you on-line entrepreneurs...

https://www.goldmoney.com/partners

sounds as if you are actually buying the Peter Schiff story?

So how are you allocating your bitcoins versus gold? Are you actually talking physical gold or paper gold, and what about silver and other PMs?

Also, are you in and out of bitcoin, or just out until some certain "satisfactory" BTC price point?

Another honest discussion of Bitcoin with Peter Schiff:

https://youtu.be/6Mfw_LUwo08

Schiff has a vested interest in bashing Bitcoin, so that he can promote his company. Hard to take him at his word on this subject.

(01-07-2017 03:55 PM)Deepdiver Wrote:  Another honest discussion of Bitcoin with Peter Schiff:

https://youtu.be/6Mfw_LUwo08

I'm not asking you what Peter is saying, because i have already seen several of his perspectives in the past (in person presentations and some writings, too)

What do you think?

Are you in mere oracle mode, and just dittoing Peter.. ..

Peter is not here, in this thread, as far as I know... so what do you think? Is there good and bad with what peter is saying or is it just all good? I could go on about Peter, but it doesn't seem appropriate if you have not even put your assessment in some kind of context, right?

(01-07-2017 03:59 PM)Seth_Rose Wrote:  Schiff has a vested interest in bashing Bitcoin, so that he can promote his company. Hard to take him at his word on this subject.

Exactamente!!!

The below linked article is very incomplete regarding talking about bitcoin rallys between 2013 and present, but it still does bring up some decent comparison points.


http://www.coindesk.com/2013-today-compa...t-rallies/

(01-07-2017 03:59 PM)Seth_Rose Wrote:  Schiff has a vested interest in bashing Bitcoin, so that he can promote his company. Hard to take him at his word on this subject.

Clearly you did not listen to Schiff's YT broadcasts...

Bitcoin just bubbled due to China demand then China govt policy announcements... neared gold parity - perfect time to take some profits... but but But But Peter... Bitcoin will eventually equal $1 Million Dollars per Bitcoin!!!

Peter; OK leave one or two % of your portfolio in Bitcoin to keep some chips in the game just in case the fantasies of $1Million Bitcoin do come true...

In the meantime take some profits and put in into much more reliable store of value Goldmoney.com either Personal, Business or Wealth Management accounts.

Unlike Bitcoin you can get a debit card tied to your Goldmoney.com account and make typical debit card purchases in your Goldmoney.com account.

Deepdiver says...

Last I checked advice of leaving one or two percent of your portfolio in Bitcoin just in case the China Trade drives it to the stratosphere is NOT bashing bitcoin... Just cautious advice from a professional registered investments advisor and proven Markets Economist. Heed or Bleed men.

It's your money!

(01-07-2017 04:39 PM)Deepdiver Wrote:  

(01-07-2017 03:59 PM)Seth_Rose Wrote:  Schiff has a vested interest in bashing Bitcoin, so that he can promote his company. Hard to take him at his word on this subject.

Clearly you did not listen to Schiff's YT broadcasts...

Bitcoin just bubbled due to China demand then China govt policy announcements... neared gold parity - perfect time to take some profits... but but But But Peter... Bitcoin will eventually equal $1 Million Dollars per Bitcoin!!!

Peter; OK leave one or two % of your portfolio in Bitcoin to keep some chips in the game just in case the fantasies of $1Million Bitcoin do come true...

In the meantime take some profits and put in into much more reliable store of value Goldmoney.com either Personal, Business or Wealth Management accounts.

Unlike Bitcoin you can get a debit card tied to your Goldmoney.com account and make typical debit card purchases in your Goldmoney.com account.

Deepdiver says...

Last I checked advice of leaving one or two percent of your portfolio in Bitcoin just in case the China Trade drives it to the stratosphere is NOT bashing bitcoin... Just cautious advice from a professional registered investments advisor and proven Markets Economist. Heed or Bleed men.

It's your money!

Well, at least you tangentially, connect your series of posts to bitcoin, but it is really starting to appear that you want to talk about gold.., and nothing wrong with that, it is just not the right thread for a gold discussion.


So, yeah in the end, you are bearish about bitcoin at the present price and you are suggesting 1 or 2% of your investment portfolio in Bitcoin. O.k.. fair enough, so how are the other allocations, approximately?

Actually, if everyone put 1-2% of their available quasi-liquid investment money into bitcoin, that would be quite bullish for bitcoin.

My initial goal, in 2013, was to invest about 5% of my quasi-liquid investment into bitcoin in the succeeding 6 months, and then after 6 months I reassessed the bitcoin situation (and that was about mid 2014), and at that time, I decided to allocate a total of 10% of my quasi-liquid investment into bitcoin over the next six months... which would leave me with an additional 5% spread over 6 months to achieve, more or less my investment stake into bitcoin.

Some folks are more bullish and less bullish, but even though bitcoin has appreciated to about 30% to 40% of my total quasi-liquid investments, I don't really feel over invested in bitcoin, at this time, or a need to reallocate.. but that is me (and my initial investment was about 10% of the quasi-liquid).. anyhow, each of us can come to varying conclusions regarding how to allocate from this point forward, and I kind of agree that 1 to 2% would not be an unreasonable amount to dedicate to bitcoin... but guys also need to consider specifically their own situations and views etc.. and therefore for some guys a larger portion (maybe even up to 30%) might feel reasonable, and some guys may want to do less (something like .5% may be more comfortable for some guys - even though I personally think a minimum of 1% allocated towards is prudent, and I would probably advise a bit higher.. maybe in the 3-5% territory for the meek.. but surely guys have to decide what is good for themselves and how they are going to spread out their initial into bitcoin investment - over what time period).

DD - agree with you and Schiff about prices sometimes being favorable for a swap with pms. It's physical insurance.

(01-07-2017 05:45 PM)SunW Wrote:  DD - agree with you and Schiff about prices sometimes being favorable for a swap with pms. It's physical insurance.

Actually, one of the assumptions underlying DD's assertion (which is relying upon Peter Schiff) is that bitcoin is currently in a bubble, and sure that could be true, but it is not necessarily true.

I am kind of a similar thinking as Vinny Lingham.. that in order to be in a bubble, we gotta go much higher, and Vinny is thinking that currently the bitcoin bubble price (any time before March 2017) is somewhere north of $2k.. .which to me seems reasonable... even if BTC prices could play out in a variety of directions from this point on, but it does not really seem to be in in a bubble at the moment.

https://cointelegraph.com/news/vinny-lin...march-2017