“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”

IMHO if this advice is followed when it comes to Bitcoin you will make a killing swing trading. Could it go lower, possibly, that said I just maxed out my daily buy at $984 today. I woulnd't be shocked if we saw $850 over the weekend, I'll probably buy some more.

I also like JJG's posts. He gives good insight and updates. He admits to being very bullish so I don't see the point in criticizing him.

Selling a portion of BTC holdings at the moment isn't a bad idea, I would consider buying again around $700 or after the hard fork drama has passed.

Any suggestions for altcoins to diversify into other than Eth/Dash/Monero/Maidsafe?

(03-24-2017 11:14 PM)Savage Wrote:  Selling a portion of BTC holdings at the moment isn't a bad idea, I would consider buying again around $700 or after the hard fork drama has passed.

Any suggestions for altcoins to diversify into other than Eth/Dash/Monero/Maidsafe?

You seem to be doing the opposite of me, so I would not be a good one to advise...


hahahahahahaha

Either of us could be right. I was over invested in BTC anyway so I feel like it's the sensible thing for me.

I found the following blog post from 2016 interesting. Was mentioned on reddit so I looked it up.

https://blog.plan99.net/the-resolution-o....bba3hcqys

It was long and I still haven't finished reading it but my TLDR so far would be: 5 year bitcoin developer quits and calls bitcoin a failure due to the block size limit. (this was in Jan 2016) It seems like he would be in support of BU. He blames the Chinese miners for refusing to support alternatives to bitcoin core which was interesting considering recent events.

I think ALTS are more relevant to the central BTC discussion at this time, since a lot of money seems to be pouring out from BTC and into the ALTS.

ETH has already gone parabolic, DOGE is a tiny joke coin, DASH has already gone parabolic, as has XMR. This leaves me with ETC. Or just leaving my funds in exchanges until there is some stability in BTC. All I know is those big 3 candles again aren't looking good. There is always 3 big candles, a tiny bit or relief then the downtrend resumes. Depressing.

And I disagree re. China. It has a fucking huge influence. BU has also been called ChinaCoin for good reason. I think they should actually call it that and list it as an alt while keeping BTC BTC. That way they can see how stupid their shit is.

(03-24-2017 11:42 PM)Savage Wrote:  Either of us could be right. I was over invested in BTC anyway so I feel like it's the sensible thing for me.

I don't think that any of this is about being right, but instead finding some kind of allocation that is comfortable for you.....

And, I am just referring to my ongoing practice to buy on the way down and to sell on the way up... so I am buying only with money that I had already used to sell...

(03-24-2017 11:42 PM)Savage Wrote:  I found the following blog post from 2016 interesting. Was mentioned on reddit so I looked it up.

https://blog.plan99.net/the-resolution-o....bba3hcqys

It was long and I still haven't finished reading it but my TLDR so far would be: 5 year bitcoin developer quits and calls bitcoin a failure due to the block size limit. (this was in Jan 2016) It seems like he would be in support of BU. He blames the Chinese miners for refusing to support alternatives to bitcoin core which was interesting considering recent events.

That article is well known in the bitcoin community and has been debunked considerably as a kind of rage quit. Sure it is famous because it had an effect of bringing the price down at the time, but subsequently the price went back up more than 3x.

In my humble bumble opinion, it is really not good to rely on some of those kinds of fear mongering articles that are full of exaggerations, half truths and misinformation... and also could have been that Mike Hearn was doing some inside manipulation at that time and may have even profited from his scandalous well-timed "rage quit."

Hearn did go to work for the banks on R3 at that time which ended up being a pretty much failed project - though maybe it will get revived in financial spin circles as if it were "successful".

(03-24-2017 11:42 PM)Skank_Hunt Wrote:  I think ALTS are more relevant to the central BTC discussion at this time, since a lot of money seems to be pouring out from BTC and into the ALTS.

ETH has already gone parabolic, DOGE is a tiny joke coin, DASH has already gone parabolic, as has XMR. This leaves me with ETC. Or just leaving my funds in exchanges until there is some stability in BTC. All I know is those big 3 candles again aren't looking good. There is always 3 big candles, a tiny bit or relief then the downtrend resumes. Depressing.

And I disagree re. China. It has a fucking huge influence. BU has also been called ChinaCoin for good reason. I think they should actually call it that and list it as an alt while keeping BTC BTC. That way they can see how stupid their shit is.

I will concede with your point about the current increasing relevance of alts in bitcionlandia....

Could be that inevitably, this thread may be converting into an "all cryptos" thread - because it seems that in practice many RVF guys do NOT want to post in the alt coins thread yet guys seem to want to consider bitcoin and alts in a kind of unison way and even considering various hedgings in trying times like these.

sure.. Alts can be hedging (and even dollars look good when BTC is betting dumped at nearly 1000 coins an hour.. and also there can be some short-term profit possibilities with some of the alts - making money (whether BTC or fiat) or losing money when the alts are dumped - and maybe even some of the alts are gaining in their liquidity (at least somewhat).

Also, increasingly, alts are traded more and more on various bitcoin exchange platforms, and so it can be relatively easy to convert back and forth and try to be strategic about either preserving your wealth, cutting your losses or possibly making a little bit of money.

It's not everyday when you wake up after you shorted BTC and it hit its stop limit sell order and you make 20BTC.

If I knew how to do the BTC roller coaster it would go here. But i'm on mobile and lit as fk.

Shabbat shalom Juan. Sorry for the hate you do you!

Thanks a lot, Coinbase and their stupid 48 hour waiting period. In the last 24 hours, BTC already went down over $100 and shows no signs of stopping.

(03-25-2017 01:46 AM)CleanSlate Wrote:  Thanks a lot, Coinbase and their stupid 48 hour waiting period. In the last 24 hours, BTC already went down over $100 and shows no signs of stopping.

Why do you have that 48 hours waiting period? I think it's annoying just waiting for the transactions to confirm when I'm doing trades.

(03-25-2017 01:46 AM)CleanSlate Wrote:  Thanks a lot, Coinbase and their stupid 48 hour waiting period. In the last 24 hours, BTC already went down over $100 and shows no signs of stopping.

You seem to be describing a feature rather than a bug, at least one of the Coinbase options that you can chose is to hold your coins in their "vault", which requires a longer period of time before you can withdraw from the vault.

I do keep some coins in their vault - and it is likely more secure that my other coins in their regular wallet and on their exchange - which I can trade or withdraw within minutes.

There has been some recent batting around of a possible meeting regarding scaling questions between some stakeholders (including miners, developers and other possibly influential folks in the bitcoin space). Seems very tentative at this time.

http://www.coindesk.com/major-bitcoin-sc...place-may/

(03-24-2017 11:59 PM)JayJuanGee Wrote:  I will concede with your point about the current increasing relevance of alts in bitcionlandia....

Could be that inevitably, this thread may be converting into an "all cryptos" thread - because it seems that in practice many RVF guys do NOT want to post in the alt coins thread yet guys seem to want to consider bitcoin and alts in a kind of unison way and even considering various hedgings in trying times like these.

sure.. Alts can be hedging (and even dollars look good when BTC is betting dumped at nearly 1000 coins an hour.. and also there can be some short-term profit possibilities with some of the alts - making money (whether BTC or fiat) or losing money when the alts are dumped - and maybe even some of the alts are gaining in their liquidity (at least somewhat).

Also, increasingly, alts are traded more and more on various bitcoin exchange platforms, and so it can be relatively easy to convert back and forth and try to be strategic about either preserving your wealth, cutting your losses or possibly making a little bit of money.

Yes, especially if BTC is going to be split in two, and one of the two being an ALT. Possible inevitable internet wide sperg war as to who is BTC and who is the ALT.

Also issues of hedging against the uncertainty of the possible fork and general problems in the BTC sphere. The hedges may not necessarily be exclusively ALTS - sitting in USD/EUR/JPY/GBP/CAD (cash) another method - but when BTC (at least at the moment) seems to offer mainly doubt, uncertainty and consequent downside, it's only natural that ALTS should be mentioned.

I'm not sure about ETH right now as a hedge against BTC downside; it has already risen parabolically to a psychologically significant number $50, with a $4b mcap in a very short space of time. If anything I think it needs to cool down.

The only one I'm left with is ETC but even that has doubled recently and has a ATH very close by.

Litecoin just seems paralyzed. Once called "silver" to Bitcoin's "gold", it now just hovers around $4, a similar price range to ETC. I hope ETC doesn't start such behavior.

Apart from LTC, in many of the big ALTS I think we're due a round of profit taking. They really have taken off unexpectedly.

I've got a chart here about possible EW patterns. It looks like we are in a 5-3-5 zig zag correction which would mean another ABC slight recovery before another impulsive 5 wave down. Downaside intermediate target $600-700 if the $900-$1000 range doesn't hold.

(03-25-2017 11:37 AM)Skank_Hunt Wrote:  

(03-24-2017 11:59 PM)JayJuanGee Wrote:  [edited out]

Yes, especially if BTC is going to be split in two, and one of the two being an ALT. Possible inevitable internet wide sperg war as to who is BTC and who is the ALT.

Yep.. then everyone becomes an alt. Even though BTC's total crypto market cap has shrunk below 70%, I still think that we have a way to go before everyone is an alt, and at this time, I still place a decently low probability on an actual hardfork - even though I place a high probability that the fear of a hardfork has contributed to a large amount of the current negative BTC price pressures and the upwards pressures on various pump and dump alts.

(03-25-2017 11:37 AM)Skank_Hunt Wrote:  Litecoin just seems paralyzed. Once called "silver" to Bitcoin's "gold", it now just hovers around $4, a similar price range to ETC. I hope ETC doesn't start such behavior.

As some folks may know, Litecoin has already vetted segwit ,and they are still working on possible implementation of seg wit, and their consensus threshold is only 75%, rather than bitcoin's 95%, so there could be some possibilities of upwards LTC price pressures based on their possibly playing around with segwit before bitcoin is able to?

(03-25-2017 11:37 AM)Skank_Hunt Wrote:  I've got a chart here about possible EW patterns. It looks like we are in a 5-3-5 zig zag correction which would mean another ABC slight recovery before another impulsive 5 wave down. Downaside intermediate target $600-700 if the $900-$1000 range doesn't hold.
[http://i.imgur.com/yXYmkR7.jpg[/img]

As you may know, I don't really play around with the charts too much, but before we get into the $600-$700 range (and you call that intermediate), we gotta get through a few support points first.

At this point, I will concede getting through $900 would be easier, based on where we are at, currently. Absent some major FUD or other negative news, getting through $800 and $700 respectively would be quite a bit more difficult and more difficult the lower the number, in my humble bumble opinion.

Surely $600-$700 is in reach, and the fact that you are calling it intermediate suggest that you are considering $400 to $500 to be downside possibilities, too.

Never say never in bitcoinlandia because we frequently have overshooting in bitcoinlandia... but I have some considerable doubts of those lower numbers being very likely absent some meaningful and/or significant negative developments.

Really, it can be difficult to determine if the recent BTC price battle is over or if the bottom is in for this phase of our price actions, but the little adjustment upwards in the past several hours from the baby bloodbath from the past few days may help to give some reassurances to some (but not all) guys.

Maybe if today's candle turns out to be green (which we will find out in 4 hours), then I maybe willing to provide a tentative prediction that we will largely stay in the $950 to $1050 price range for some time into the next few weeks, at least - if not longer... but if it turns out to be red today or tomorrow, I will become less likely to make such an assertion (prediction).

Again, let's see how the market plays out in the next few hours and then in the next day in order to become more confident about whether there still remains some price support, and I may be willing to venture my quasi-short term prediction in the range that I stated.

Anyone else?

By the way, Skank_H, you did not provide any kind of probability level to your suggestion that $600 to $700 is a decently probable event in the near future. I take it from the fact that you said it, you provided graphs, and kind of arguing that it is likely, that you are giving such a scenario greater than 50% chance of occurring in the coming weeks?

At this time, assuming that my prediction of the non-happening of a hardfork is correct I would give such $600-$700 scenario in the coming months to be less than a 25% chance.. that is my tentative consideration of your anticipated price correction scenario, as I type.

Anyone else?

The price appears highly uncertain, much more than average, right now. Support levels at $900, if that breaks could be downward spiral. Wouldn't be surprised if it bounced back to 1k, however, too many q's.

One thing that people haven't mentioned is that there is another ETF decision March 30th, I expect it to get rejected as well. No idea if this will have an impact on price, seems it might be minimal.

But I'm contemplating some strategies to profit of this. Could be an opportunity, not sure yet.

(03-25-2017 04:44 PM)Armogan Wrote:  The price appears highly uncertain, much more than average, right now. Support levels at $900, if that breaks could be downward spiral. Wouldn't be surprised if it bounced back to 1k, however, too many q's.

One thing that people haven't mentioned is that there is another ETF decision March 30th, I expect it to get rejected as well. No idea if this will have an impact on price, seems it might be minimal.

But I'm contemplating some strategies to profit of this. Could be an opportunity, not sure yet.

Yeah.. I don't know how any of the ETF stuff would affect markets, either. At this point, seems like they would not affect markets unless something was approved - which seems pretty unlikely.

You are accounting for the BATS appeal to the denial of the Winklevii ETF, also, or not?

I mentioned the appeal in this post: https://www.rooshvforum.com/thread-21537...pid1534318

Took a risk this morning and bought 25 @ 898, but sold all of them at $941. Should have waited a little longer, but got $1000+. It's volatile trading now so I will try this again when it dips deep enough.

That's a pretty solid morning. It's time like this you can use decent TA to profit. Like I said support seems to be a $900, some other macro event in the ecosystem, would be needed to break this.

(03-25-2017 05:05 PM)SunW Wrote:  Took a risk this morning and bought 25 @ 898, but sold all of them at $941. Should have waited a little longer, but got $1000+. It's volatile trading now so I will try this again when it dips deep enough.

Yeah. Sometimes it is better to just lock in the profits right away rather than attempting to time the maximum.

When I do these kinds of things, I tend to stagger my selling.. so I might set my sell orders in $5 or $10 increments starting at $924 or some other amount or increment that is comfortable for me). That's just me, and each of us have our style (or lack thereof)

(03-25-2017 02:44 PM)JayJuanGee Wrote:  Really, it can be difficult to determine if the recent BTC price battle is over or if the bottom is in for this phase of our price actions, but the little adjustment upwards in the past several hours from the baby bloodbath from the past few days may help to give some reassurances to some (but not all) guys.

Maybe if today's candle turns out to be green (which we will find out in 4 hours), then I maybe willing to provide a tentative prediction that we will largely stay in the $950 to $1050 price range for some time into the next few weeks, at least - if not longer... but if it turns out to be red today or tomorrow, I will become less likely to make such an assertion (prediction).

Again, let's see how the market plays out in the next few hours and then in the next day in order to become more confident about whether there still remains some price support, and I may be willing to venture my quasi-short term prediction in the range that I stated.

Anyone else?

By the way, Skank_H, you did not provide any kind of probability level to your suggestion that $600 to $700 is a decently probable event in the near future. I take it from the fact that you said it, you provided graphs, and kind of arguing that it is likely, that you are giving such a scenario greater than 50% chance of occurring in the coming weeks?

At this time, assuming that my prediction of the non-happening of a hardfork is correct I would give such $600-$700 scenario in the coming months to be less than a 25% chance.. that is my tentative consideration of your anticipated price correction scenario, as I type.

Anyone else?

As a follow up to my earlier post (above), I am going to assert that today's candle is pretty much a done deal and going to close in the green (we are at $963 and just bounced up $10 in the past 20 minutes)

We have about 13 minutes remaining in today's candle, and the price would have to drop to below $928 for today's candle to close in the red.

I would prefer to wait one more day to see if we have another daily green candle before I would assert that we are out of the woods - but for the moment, the upwards price pressures seem to be decent and ongoing and we seem to be bouncing back in a decent way from the extremes of the correction of the past few days.

I just sold at 968 for a decent profit. Will be monitoring both BTC and ETH closely to see if I should jump back in.

Coinbase trading fees are unfortunate though. They weren't there before.

(03-25-2017 07:03 PM)CleanSlate Wrote:  I just sold at 968 for a decent profit. Will be monitoring both BTC and ETH closely to see if I should jump back in.

Coinbase trading fees are unfortunate though. They weren't there before.

If you trade on Coinbase, you are referring to GDAX, correct?

if you preset your buy and sell orders, then there are no fees, but if you do market orders then the fees on GDAX are about .25%.

If you attempt to buy and sell (or convert) on the coinbase platform ( that will cost you 1.5% if you go in and out of your bank, and I believe that it is 1% if you keep your money on coinbase and just convert back and forth into their USD wallet.

The dollars that are in the coinbase wallet are FDIC insured; however, the dollars on GDAX are not insured.

Coinbase platform, not GDAX.