(01-06-2017 04:13 AM)JayJuanGee Wrote:  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

The below-linked article kind of gives a little more meaning to my earlier point (above post) about Brian Armstrong supporting seg wit.

https://cointelegraph.com/news/scaling-i...-to-segwit

DD - I respect Schiff and he makes good points, but clearly he's advocating his own company, which means he is prone to bias. I may even get a GoldMoney account in the future, as Gold is undervalued imo, but Schiff seems too anti-Bitcoin for a libertarian. Likely because of his interests in GoldMoney.

(01-03-2017 11:30 PM)JayJuanGee Wrote:  

(01-03-2017 11:27 PM)Savage Wrote:  

(01-03-2017 06:03 PM)Olav Wrote:  This is it guys, Bitcoin can only go up from here. Some have predicted in the thousands and tens of thousands soon.

I disagree. Just sold 30%.

Hahahahahaha...

good luck with that.

There could be some downside, so maybe you will be fine.

I am glad that you only sold 30%... , but I agree that sometimes it can be decent to take some profits off of the table as prices go up, and I do the same thing on an ongoing basis (about between 1% and 2% for every $100 increase in price)

Worked out well for me. Would have been better to have sold 100%. (Something I'll never do!)

(01-07-2017 08:56 PM)Seth_Rose Wrote:  DD - I respect Schiff and he makes good points, but clearly he's advocating his own company, which means he is prone to bias. I may even get a GoldMoney account in the future, as Gold is undervalued imo, but Schiff seems too anti-Bitcoin for a libertarian. Likely because of his interests in GoldMoney.

I have strong libertarian leanings (Donated to Stand with Rand in 2015 and Ron Paul's C4L 4 times) until Rand had a freak out melt down at the Trump Steamroller and dropped out before the NH Primary so as a pragmatist I went hard right for Trump.

As far a Schiff advocating for his own company that is what free market capitalism is about but lousy advice would put him out of business... yet Schiff weathers multiple storms.

Everyone predicted a collapse of the US Dollar and US Stock Market if God Forbid Trump was elected... yet the market is booming - why - Because Trump is the new wizard of world finance?

No - its simple there are 90 Million Millenials (Dwarfs the iconic Post WWII Baby Boom demo) with many Millenials ironically living with their Baby Boom parents. Millenials mostly betas who would like to get laid on the steady with a daily rider (wife?) and a few kids and need to keep a wife and kids happy will work their provider asses off to pay for a safe place in the suburbs with safe decent schools. This represents massive pent-up demand for household formations and household formations drives the consumer economy and every long term Bull Market in modern US history.

Whereas I do agree with Schiff - money is a store of value - when the value of a digital currency can be $1,100 a couple days ago and $900 a day later that is not money it is a highly speculative volatile "asset" backed by what? A billion Chinese trying to figure out how to get some of their money out from under mercurial machinations of a ruthless Chinese Red Communist Central Government?

I will be getting a Goldmoney.com account just to diversify out of the US Dollar in case/when the SHTF... I will primarily be investing in businesses with solid growth potential that capitalize on serving the Pent Up demand of 70 Million retiring baby boomers leisure and healthcare needs and 90 Million Millenials desire to be beta providers so they can get laid once a week or so.

Until a digital currency is backed by something more reliable as a tangible store of value rather than rampant Chinese speculation I along with Peter Schiff consider Digital Currencies a gamble, a lottery ticket and not a long term reliable store of wealth. A fact.

There is a coming Global Financial Storm brewing likely to make 2008/09 look like a mild correction by comparison... forewarned is forearmed:

United Kingdom Financial Crisis 2017 (Full Documentary)
https://youtu.be/soxViRn5yP8

UNITED STATES OF AMERICA Destroyed by Greed / Banks (Full Documentary)
https://youtu.be/Tl21Cig33q4

Yale Economist Warns of Economic Collapse During Trump Presidency
https://youtu.be/igtKzENkLYI

(01-08-2017 05:49 AM)Savage Wrote:  

(01-03-2017 11:30 PM)JayJuanGee Wrote:  

(01-03-2017 11:27 PM)Savage Wrote:  

(01-03-2017 06:03 PM)Olav Wrote:  This is it guys, Bitcoin can only go up from here. Some have predicted in the thousands and tens of thousands soon.

I disagree. Just sold 30%.

Hahahahahaha...

good luck with that.

There could be some downside, so maybe you will be fine.

I am glad that you only sold 30%... , but I agree that sometimes it can be decent to take some profits off of the table as prices go up, and I do the same thing on an ongoing basis (about between 1% and 2% for every $100 increase in price)

Worked out well for me. Would have been better to have sold 100%. (Something I'll never do!)

Yeah, this was quite a dramatic dump... and even so, it can be difficult to determine when to buy back in and how much etc.

I also personally think that once you understand about bitcoin, it is good to have some stake in it at all times, even if you expect some kind of correction (because you don't even really know), and therefore, it is not really good to gamble with 100% of your stash in either price direction... and margin betting and leveraging add an additional levels of risk that could be o.k for the right person... but it may not be necessary in order to still experience decent profits in bitcoin.

So 30% is much more of a sale than I would do at any one time (I am more of a staggering and incremental guy... and maybe at some point i will get to take that amount off the table through my method), but sure each of us has to find his own percentage of comfort level and at what point it is looking like a correction could be due... .

Sure my percentage of how much I sell could become higher at a higher price level, and for example if bitcoin were in a bigger bubble than it is, then I may be more willing to remove some btc and to put into fiat...

In retrospect, it does kind of look pretty clear that the latest dip was kind of in the cards (and sometimes hard to see when we are just seeing a potential for an exponential upwards explosion).... The correction seemed more likely and necessary since we had gone from lower $600s to mid $1100s in about 3 months without any kind of significant correction and more than half of those gains occurring in the past three weeks.

Prices actually kind of played out very closely to my anticipation too, but unlike you, Savage, I had not taken much off the table, even though I kind of anticipated that a price battle could begin in the $1060 to $1180 range. I mostly just stuck to my routine of taking off a percentage or two every $100 rise in price, and I was even getting so worried that I was stacking so much fiat in my various bitcoin accounts that the fiat was not working and I was not selling as much BTC as I should have in part because I was feeling more and more fiat rich with a bit over 8% in fiat and a bit less than 92% in BTC. and I was even buying back more BTC on smaller dips than I should have... and also buying back some of it too soon, when the big three legged correction finally did occur. The third leg of the correction was down to $812 on Stamp which would have been a total correction of nearly 29% from Stamp's high of $1139.

(01-08-2017 07:10 AM)Deepdiver Wrote:  

(01-07-2017 08:56 PM)Seth_Rose Wrote:  DD - I respect Schiff and he makes good points, but clearly he's advocating his own company, which means he is prone to bias. I may even get a GoldMoney account in the future, as Gold is undervalued imo, but Schiff seems too anti-Bitcoin for a libertarian. Likely because of his interests in GoldMoney.

......
Until a digital currency is backed by something more reliable as a tangible store of value rather than rampant Chinese speculation I along with Peter Schiff consider Digital Currencies a gamble, a lottery ticket and not a long term reliable store of wealth. A fact.

Most of your post strays in lands much out there from the contents of this thread, and I recognize that Schiff has been making those kinds of anti-bitcoin claims for quite several years, and it is almost as he does not understand it - even though he does seem a bit smarter than that. There is all kinds of speculation in bitcoin beyond just the chinese, it is a world-wide paradigm shifting phenomenon that has some of the functionality of gold while being more mobile and even more than gold with a much greater upside potential since bitcoin is in its early adoption years...

So you may be correct that gold is more stable than bitcoin as a storage of value, but gold and other pms have their problems too with hyper inflation by paper, manipulation, phoney gold (with tungsten) and even difficulties in tracking supply, exactly.

I think that guys could invest in gold and also in bitcoin, but I don't really personally believe that it is necessary to invest in gold because it is not likely to have as great of an upside as bitcoin and bitcoin's upside seems to be looming, now... even though it could go to zero, but that is not seeming as likely as some of the naysayers like schiff have been prognosticating for years (in respect to the obituary of bitcoin).. and then bitcoin has been one of the best performing assets over it's 8 year history.. yet I understand there is some exponetial aspect of the new and budding technology that makes bitcoin no way as mature as any other assets and therefore has that as part of its growth advantage in the current world.. rather than talking about what might happen 50 years from now and who cares,.. we gotta think of our investments in terms of the real world and we can move our investment later, if we think that something better comes along.. even though bitcoin is a decent thing to put some investment.

By the way, DD you still have not have really given particulars about various allocations? Go on.. Bitcoin 1-2% and what are the percentages of the others? gold? other pms? real estate? stocks? bonds? currencies? other cryptos? what? if not bitcoin, then what? what is your percentages more or less?

(01-07-2017 08:45 PM)JayJuanGee Wrote:  

(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

Yeah, I see why some feel that way. For me, I feel some of the pms are discount buys. To each their own!

(01-08-2017 06:17 PM)SunW Wrote:  

(01-07-2017 08:45 PM)JayJuanGee Wrote:  

(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

Yeah, I see why some feel that way. For me, I feel some of the pms are discount buys. To each their own!

Well, if you already have various investment vehicles already set up that are kind of working for you, then maybe it is a lot easier to move percentages of your holdings around those investment vehicles rather than setting up a whole new one.

Some folks say that 5 or 6 investment vehicles can be good, and maybe you can go a tiny bit lower or a bit higher if you are ok with having to juggle more things.

Sometimes within an investment vehicle there will be options to diversify within it. For example, I have a 401k that allows me to apportion between 5 asset classes, and I understand that there are some of those that are even more flexible regarding options that you have within the fund.

There surely is some mystery in regards to bitcoin in terms of whether some third parties may be (and probably are) engaging in some fractional reserve practices, yet in the precious metals markets that practice has been really blown out of proportion - and surely folks may be proponents of holding the physical assets, but even the value of the physical assets get corrupted and manipulated by some of the paper holdings practices - maybe some of that will come to bitcoin in the future, and may be happening to some extent, who knows?

but if guys are coming into this thread and pumping one thing or another that may be one story, yet the other story is how does that relate to bitcoin, and should guys who are already holding bitcoins reallocate some of their holdings or not, and we should not assume, merely because this is the bitcoin thread, that guys here are necessarily overinvested in bitcoin (even though that could be the case with some guys - and they must decide for themselves with discussions of how some of those other investments might relate to bitcoin).

If a guy does not have any bitcoin, that also may be a question that he is weighing in his head and trying to determine whether to start with bitcoin or pms or some other investments... and how much of a stake to take in each and how many investments to start at a time, given total finances, etc.

It appears that we are experiencing another series of dumps that within the next 12 to 24 hours test buying support at $812 to $820 (lower $800s in other words).

If that support holds then chances of upwards from there will be pretty decent. If that support falls, then we could be going into the lower $700s and even into the lower $600s. Sure, I prefer up, and I do not sell on the way down (because this is far from certain), and it is possible also that there are enough bull whales out there to hold off some of this seemingly likely downward dumping, at the moment.

I expect Satoshi to be coming in at any moment to make fun out of any Bitcoin holders or anyone who has any kind of investment strategy that may differ from his own - which strategy is not really clear except that he had a break up with bitcoin and fell out of love with it.

Did you sell yet?

Actually, if we continue the conversation in a bit of a gold / bitcoin comparison, some kinds of conversations about bitcoin seem to be scaring the shit out of some of the gold bugs.

Such as the various conversations that bitcoin is going to replace the functionality of gold in several ways regarding the storage of value arena:


https://cointelegraph.com/news/wyre-ceo-...e-currency

Put some bitcoin around my neck. Bling bling.

It is interesting to continue to witness some of the hostility, confusion, and seemingly misinformation in the mainstream media towards bitcoin.

Here is an example of that.

http://video.cnbc.com/gallery/?video=3000582735


Adam White (from Coinbase) doesn't really do very well in that video interview in reframing the hostility away from bitcoin.

Sure, he makes several good points, but those good points seem to become lost in the fray, and there seemed to be a lot of perpetuation of misconceptions and misinformation by the hosts, whether intentional or not.

So, in other words, some folks seem to be so skeptical of bitcoin that they are going to end up chasing the bitcoin train at $3k and above.. dumb asses.

By the way, even if some of these bitcoin skeptics are scared of bitcoin, its volatility and adoption, they can still consider whether making 1% investment towards bitcoin might not be prudent in terms of diversification of their finances (and hedging, possibly)..

Surely, we are going to witness some of these bitcoin skeptic folks evolve in their thinking in the coming years, no?

Here's some interesting food for thought ideas about the topic of the possibility of $10k bitcoins (road path for such).


http://www.oftwominds.com/blogjan17/bitcoin10K1-17.html

Tell us the truth JJG. Did you buy bitcoin at a price of more than $1000? This is a yes or no question. We want either a yes, or a no, not a paragraph. Yes? No? Understood? No?

(01-11-2017 12:38 PM)Satoshi Wrote:  We want either a yes, or a no, not a paragraph.

How many people run your account?

Wait a sec. That's not the real Satoshi right?

(01-11-2017 05:23 PM)Eugenics Wrote:  Wait a sec. That's not the real Satoshi right?

Hahahahaha


He's a butt hurt troll, who used to be so passionate about bitcoin that he changed his user name to Satoshi..

Apparently, he made pretty decent profits from bitcoin because he luckily bought some in 2012 (he gives himself credit for being smart, but that is really not the whole story, as we learn from some of his subsequent behavior and also if you get some details from him).

Then during the BTC bear market of 2014 2015, this particular Satoshi (maybe he is like Craig Wright - Satoshi in name only He should change his user name to Craig Wright).

Anyhow, in July/August 2015, Satoshi got so jaded about bitcoin that he sold all his coins in the mid $200s, he asserted that bitcoin was going to fail, was not going to have anymore bubbles, it would likely be replaced by some crypto competitor and that it was pretty much going to zero in the near future (more or less a downward trajectory from the mid-$200s in mid 2015).

He was pretty much wrong but couldn't really admit it or be somewhat modest about it or modify his position, and instead he has been trolling this thread ever since it became apparent that he was drinking the wrong koolaide and that increasingly jaded view and emotional trolling disposition was mostly after BTC prices started going above $300 in late 2015...

Hah. I knew it was a stupid question. He should probably change his username though.

Everyone who has been involved in bitcoin anytime between now and 2012 is probably a little jaded. I mean shit. If i had kept my mined BTC until now my money problems would be over. Hindsight is 20/20 as they so, so who cares.

Good luck with your holdings fellas

(01-11-2017 06:07 PM)Eugenics Wrote:  Hah. I knew it was a stupid question. He should probably change his username though.

Everyone who has been involved in bitcoin anytime between now and 2012 is probably a little jaded. I mean shit. If i had kept my mined BTC until now my money problems would be over. Hindsight is 20/20 as they so, so who cares.

Good luck with your holdings fellas

Oh.. yeah.. I don't really blame Satoshi for his jadedness or even his trolling for a little while, but his trolling has gotten to a pretty drawn out degree that seems a bit beyond reason... you can look back at some of the posts to get some grasp...

Anyhow, in bitcoinlandia, there is a lot of volatility, politics, manipulation and misinformation... and yeah, lot's of folks get burnt in various ways from market dynamics.. and unexpected turns of events here and there... but if you just hold onto some coins and are reasonable about it, historically, there has been a lot of upside in bitcoin and this has been a stupendously performing asset class, if you can take some measures to attempt to protect from some of the ongoing and expected volatility.

I understand that after the dumping we have been experiencing, it has been a little bit depressing times to post bullish perspectives, but here is a little historical graph of bitcoin that has a very nice gradient.



https://www.reddit.com/r/btc/comments/5n..._is_worth/



I also find this young guy to be a bit humorous in his presentation, which I think that he recorded this video in November.

Anyhow, he concludes that bitcoin is going to $10k soon, and you need not get too anxious about that, just get your bitcoins (at least 1 bitcoin), and then just wait for a few months, and BAAAAMMM... $10k BTC...

I think that viewpoint is a bit too bullish and even a bit too much into considering that bitcoins success will be a guarantee...

Anyhow, it is still short enough and interesting enough to watch.

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

(01-11-2017 06:07 PM)Eugenics Wrote:  Hah. I knew it was a stupid question. He should probably change his username though.

Everyone who has been involved in bitcoin anytime between now and 2012 is probably a little jaded. I mean shit. If i had kept my mined BTC until now my money problems would be over. Hindsight is 20/20 as they so, so who cares.

Good luck with your holdings fellas

2013 would have been enough.

Glad I sold mine last week at over $1k.. but actually surprised it has fallen this much. Considering getting back on the bandwagon. Waiting to see if it enters the $500's

Maybe the much touted run-up has already happened and we're entering a new "low" for bitcoin until it plateaus out. The peak just happened to be 1160 and not 3k. Thoughts?

1 more post and you match your join date lol.

It's hard to say, there are positive things for bitcoin this year, there are also big names like KimDotCom trying to push the popularity. I believe he is releasing MegaUpload 2 with Bitcoin somehow integrated into it. But bitcoin will always be unstable and fairly unpredictable. High risk, high reward!