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Satoshi 路 2017-05-17 15:18:00 路 #4232
Yes I did read your articles in post 4218 and they are also deceiving. Coinmarketcap.com does indeed calculate market cap by circulating supply. I do not know if the authors of those blog post did not even bother to check this first, before writing thousands of words. And to expect you to check the credibility of what you are posting is asking too much.

Now it is 48.2 %. I wonder if bitcoins high price is only supported by traders buying and selling it to get in and out of other coins, and how much bitcoin would be worth without being the medium of exchange between dollar and other coins. This is something that guys should think about in their trades as it does indeed impact the price. It the same as if you could only buy pepsi stocks with coca-cola stocks. Coca-cola stocks would rise whenever someone bought pepsi stocks.
JayJuanGee 路 2017-05-17 16:05:00 路 #4233
(05-17-2017 03:18 PM)Satoshi Wrote:  Yes I did read your articles in post 4218 and they are also deceiving. Coinmarketcap.com does indeed calculate market cap by circulating supply. I do not know if the authors of those blog post did not even bother to check this first, before writing thousands of words. And to expect you to check the credibility of what you are posting is asking too much.

I think that both of the articles are well written, and make very decent points based on good facts and logic.

Sure, you are correct to check into sources, facts and logic, and then to have skepticism if you find contradictory or misleading facts no matter what the source.

Sometimes the mistakes are innocent and sometimes they are purposefully misleading.

Regarding the question of circulating versus total supply, I don't think that the article got that point wrong.

One of the criticisms regarding circulating supply is that it is misleading and manipulative. So, for example, if you have 1000 coins in your total supply, but you are only circulating 10 of them, then the price of that coin will be artificially inflated due to artificial scarcity.

Both articles point to a variety of deceptive practices, and they claim to NOT be pointing to all deceptive practices.

We know that we live a bit in the wild, wild west, here, and hopefully, we are not going to be part of the problem in this thread to deceive RVF guys and attempt our best to share accurate information and sound logic and not attempt to appeal to various emotions in order that guys can better sift through the information to come to their own conclusions.


(05-17-2017 03:18 PM)Satoshi Wrote:  Now it is 48.2 %. I wonder if bitcoins high price is only supported by traders buying and selling it to get in and out of other coins, and how much bitcoin would be worth without being the medium of exchange between dollar and other coins. This is something that guys should think about in their trades as it does indeed impact the price.

Apparently, you are continuing to calculate market share by including Ripple in your calculation, and apparently, you believe that is a fair inclusion.

Even if we include ripple and arrive at the 48.2% conclusion, I have considerable doubts about whether these kinds of numbers really matter at this time. Let's see how it plays out over the next several years. It seems that bitcoin has a lot of utility, even if it were to shrink to some extraordinary small number (let's say less than 10%).

How are you suggesting that this is going to play out in terms of investing into bitcoin? If someone has no bitcoin and no other crypto, you are suggesting that maybe they only hold 10% bitcoin? Or, if someone is already invested almost exclusively in bitcoin, then you are suggesting that they diversify into alts, and certain alts have more upside potential than others, in your opinion?

Personally, I get a little worried about considering that alt coin diversification is really going to pay off at this particular time, but sure, guys can make those kinds of choices, and some have handsomely profited from such diversification into alt coins in the past several months - but they also need to be careful about when to pull out of those alts, too.

It is difficult to make too general a statement about what to do, exactly without the question of some specific guy in front of us... Is anyone asking right now about how much bitcoin to buy, if any? Does anyone want to short bitcoin right now? Good luck if you are planning to short.. It might work out, but it seems a bit of a gamble prior to testing $2k, that seems likely in the coming days.


(05-17-2017 03:18 PM)Satoshi Wrote:  It the same as if you could only buy pepsi stocks with coca-cola stocks. Coca-cola stocks would rise whenever someone bought pepsi stocks.

I don't know if it is exactly the same because you have to figure out which two coins (or more) that you are comparing, and then figure out how close they are to one another.

Maybe if you compare bitcoin and litecoin, you have a kind of pepsi/coke comparison, but if you compare bitcoin to ethereum, maybe you have a coke / milk comparison. This coke/pepsi thing seems not to fit too well, unless I am missing part of your point.

I will concede that currently we have a dynamic in which all of the cryptos are going up together, and alt cryptos have been outpacing bitcoin by anywhere between 2x and 200x in the past several months, but that does not make bitcoin a bad investment. We have some cryptos that seem to be plateauing, but sure some of them can have more 2x to 200x pumps in them, and bitcoin could have a 2x or 3x pump in the near future too. So, what to do? What to do? gonna depend on where you are at, no? how much you have in and what it is allocated into and whether you feel better getting out of some of it and putting it in something else, no?

You have been suggesting getting out of bitcoin since mid-$250s, but you should concede that approach would not have been very fruitful, right? Of course, you are not going to concede... hahahahahaha.. I am willing to concede to attempt to analyze based on current market conditions, and in the very short term bitcoin continues to look pretty bullish.. and even in the longer term bitcoin looks bullish - however, those assessments could change - yet bitcoin continues to seem like a decent investment, even at these ridiculously and ongoing ATH prices.
JayJuanGee 路 2017-05-18 13:26:00 路 #4234
In recent days, I have been continuing with the belief that resistance would be pretty decent at bitstamp at $2k.

With this latest ongoing and upwards price action of the past 24-72 hours, I am kind of getting changes in my inclinations and the sense that the buying pressure is a bit stronger than I had anticipated... so it could be the case that resistance at $2k is not as strong as previously considered... ... I don't know.. I don't know because even thobh it is not likely, momentum can change...

Wait and see; wait and see... .. getting from here to $2k.. still another 6-9% .. to be floating more in that $2k territory.
JayJuanGee 路 2017-05-18 13:38:00 路 #4235
By the way, on GDAX, for the past several hours, I have seen this wall of about 700 to 800 coins for sale that keeps moving up. It started to show in the $1850s.. and then it moved up and up and up.. Right now, as I type, the wall of coins is placed at about $1880.... which could mean a bit of an attempt to keep prices down, but the fact that the wall keeps moving, there is some fear that someone might just buy the whole wall of coins, at once, which could cause some leaving in the dust and bullish upwards and exponential price movement... that is my sense and my additional sense that some of the bears might be running out of coins to sell - including some of the difficulties moving coins right now.

We should consider the confusing nature of this whole price dynamics in context. In some sense, it continues to be quite contrary to thinking that bitcoin is experiences the highest every back ups in the mempool (I think due to an ongoing spam attack) - meaning that coins are not easily moving.. so coins are just stuck where they are at, but the price goes up - despite this bitcoin is broken piece of evidence.

On the other hand, it also could be the case that exchanges run out of coins to sell and fiat can be moved onto exchanges to buy coins, but since coins cannot be moved, there are difficulties dumping, selling or getting coins to exchanges to be able to sell to attempt to keep the price down or to reverse the upwards price momentum. Ongoing ironies.
SunW 路 2017-05-18 18:02:00 路 #4236
(05-16-2017 04:04 PM)SunW Wrote:  Bitcoin should break out in the next 7 days. Get ready.

Laugh5

$1760 to $1907 so far.

Clap
SunW 路 2017-05-18 18:19:00 路 #4237
Isaac Jordan 路 2017-05-18 18:22:00 路 #4238

[Image: laugh5.gif]
CleanSlate 路 2017-05-18 18:30:00 路 #4239
Delete
JayJuanGee 路 2017-05-18 18:46:00 路 #4240
(05-18-2017 06:19 PM)SunW Wrote:  Only 17% - https://twitter.com/Cernovich/status/865057907812909056


I don't get it.

You mean only 17% of the respondents own bitcoin?

I was not able to vote or see the result because I did not have a log in.

Depending on which country, but I doubt 17% of Americans have any clue about bitcoin, and sure some of them have heard about it, but they don't really know what it is or its potential impact. My ballpark idea is that less than 1% of Americans own any bitcoin... and sure there may be pockets of bitcoin enlightenment, especially in some internet circles.

You would think that RVF guys would be a great audience for bitcoin (especially if they are considering or engaging in international travel)... Percentage of RVF guys (20 posts or more) who own bitcoin, probably less than 5%.. hahahaha.. I am just guessing.
SunW 路 2017-05-18 18:49:00 路 #4241
It means we're on the "right" (heh) side of the adoption curve.

And by "right" I mean far left tail. We have a long way to go and who knows what bitcoin will be by then.
JayJuanGee 路 2017-05-18 18:50:00 路 #4242
(05-18-2017 06:22 PM)Isaac Jordan Wrote:  
[Image: laugh5.gif]

It is a bit ironic how some folks get deceived into thinking that something only has value if it is physical, like gold.

We've heard the expression magical internet money as a denigrating reference to bitcoin... which may say more about the understanding difficulties of the person using such expression rather than making any kind of meaningful reference to the utility and/or use cases for bitcoin (and other cryptos, too)
JayJuanGee 路 2017-05-18 18:57:00 路 #4243
(05-18-2017 06:49 PM)SunW Wrote:  It means we're on the "right" (heh) side of the adoption curve.

And by "right" I mean far left tail. We have a long way to go and who knows what bitcoin will be by then.

You are something like 1,000% correct, give or take 150%.

What about all those nutjobs (not referring to any RVFer specifically) who assert that bitcoin is mature?

I understand relatively speaking bitcoin is more mature than a large number of other cryptos, but it remains amazing the extent to which bitcoin (as an asset class) is hardly even a blip on the screen of any investment portfolio, and yeah, currently (you are here) it seems that we are way in the early early adoption phases of this unknown and misunderstood phenomenon... Surely does not mean that prices are only going up.. but should cause some recognition of the continued ongoing upwards potential and the adoption and learning that is likely in the coming years.
username 路 2017-05-18 22:13:00 路 #4244
(05-18-2017 06:50 PM)JayJuanGee Wrote:  It is a bit ironic how some folks get deceived into thinking that something only has value if it is physical, like gold.

We've heard the expression magical internet money as a denigrating reference to bitcoin... which may say more about the understanding difficulties of the person using such expression rather than making any kind of meaningful reference to the utility and/or use cases for bitcoin (and other cryptos, too)

People are stupid.

The way current money operates is a person either hold paper money or their money is held by banks, businesses, and governments with little oversight by the general public, trust required, almost no idea what is happening behind the scenes, and new money can be generated any time by governments. In addition your money could be stolen at anytime either by a thief or by government through seizure or very slowly through inflation.

Meanwhile Bitcoin maintains a ledger where the rules are clearly agreed upon and visible to everyone, where the amount at every address is known by all, and someone can't just delete your coins nor generate coins out of thin air. If you have a wallet generated offline it is extremely secure.

Now which one sounds like magical (hope everything goes well) money and which one sounds like a trustworthy system.
JayJuanGee 路 2017-05-19 17:26:00 路 #4245
Oh my, Oh my....

About to break through $1,970 and so less than 1.5% away from testing resistance at $2k...

Some folks are suggesting that resistance at $2k is not going to be very strong, and I am getting the same sense.

If ETH can pump more than a 30% 24hour increase (from mid $90s to nearly $130), then surely Bitcoin would be on very solid grounds to pump 10% or more.. and for today, bitcoin is only at less than 5% increase from the $1,870s to nearly $1,970, as I type... which means that $2,050 should be in reach within the next 24 hours or less... no?


Edit: By the way, I just looked, and there are currently about 1,032 coins for sale on bitstamp's order book to get us above $2k...... With our current trade volume, activities and everything else going on, those 1,032 could be bought up pretty quickly. In that regard, a few hours ago, there were nearly 900 coins for sale at $1,925, and even though more than half were bought in one swoop, it took about half an hour to buy the remaining half.

This is popcorn time, no?
Popcorn3
JayJuanGee 路 2017-05-19 18:22:00 路 #4246
(05-18-2017 10:13 PM)username Wrote:  
(05-18-2017 06:50 PM)JayJuanGee Wrote:  It is a bit ironic how some folks get deceived into thinking that something only has value if it is physical, like gold.

We've heard the expression magical internet money as a denigrating reference to bitcoin... which may say more about the understanding difficulties of the person using such expression rather than making any kind of meaningful reference to the utility and/or use cases for bitcoin (and other cryptos, too)

People are stupid.

The way current money operates is a person either hold paper money or their money is held by banks, businesses, and governments with little oversight by the general public, trust required, almost no idea what is happening behind the scenes, and new money can be generated any time by governments. In addition your money could be stolen at anytime either by a thief or by government through seizure or very slowly through inflation.

Meanwhile Bitcoin maintains a ledger where the rules are clearly agreed upon and visible to everyone, where the amount at every address is known by all, and someone can't just delete your coins nor generate coins out of thin air. If you have a wallet generated offline it is extremely secure.

Now which one sounds like magical (hope everything goes well) money and which one sounds like a trustworthy system.


I am not sure if stupid is the right word - but a reality of human behavior tends to be sticking with what you know and only adding a bit more here and there and here and there, so it takes a while to shift people from one comfort zone to the next.. and that can be both good and bad.

Another matter is that people tend to parrot what they hear in mainstream media (MSM) - and even when people have broader channels of alternative news, including sources such as this forum, they still have difficulties shaking some MSM concepts and characterization (even when knowing that there are wrong facts, wrong logic, lies, misleading and deception contained therein). I think that we are all guilty of that to one degree or another (depending on the topic).

Regarding the topic of bitcoin adoption - we have exciting times and confusing times in our short and medium term future, including a large amount of confusion that is going to continue, including getting mixed up with various alts - what is an alt or not, and the fact that Billions of dollars seems to be flowing into the space on a daily basis (surely some of that is smoke and mirrors - but who the hell is not going be somewhat confused - even informed and technical people who are trying to keep track and to sort through the wheat and the chaff
Olav 路 2017-05-19 18:25:00 路 #4247
It's at 2k now, gonna continue even higher
JayJuanGee 路 2017-05-19 18:37:00 路 #4248
(05-19-2017 06:25 PM)Olav Wrote:  It's at 2k now, gonna continue even higher

Just for consistency, we generally refer to the Stamp price - so not quite to $2k yet.

Even though Stamp sometimes lags behind others, it tends to be a pretty decent barometer for the USD/BTC price.

Sure there are a lot of places in which $2k has been surpassed in a considerable amount, but those generally are not good barometers regarding overall BTC price - even though, you may want to make some other points regarding price differences. For example in the past month, there certainly has been quite a bit of price weirdness with Bitfinex have more than a 15% premium on Stamp prices for extended periods of time while BTC-e had nearly a 15% lower price, and even some of the Chinese exchanges around the BTC-e price - so sometimes approaching a 30% difference in prices... can be confusing and difficult to measure. Now, for some reason that may or may not be completely explainable (maybe resistance at $2k), the price spreads are a lot more narrow - although the chinese exchanges are still lagging nearly 15%, but Bitfinex and Stamp have been crossing over and frequently within 1% or so of each other.
Genghis Khan 路 2017-05-19 18:53:00 路 #4249
(05-18-2017 10:13 PM)username Wrote:  
(05-18-2017 06:50 PM)JayJuanGee Wrote:  It is a bit ironic how some folks get deceived into thinking that something only has value if it is physical, like gold.

We've heard the expression magical internet money as a denigrating reference to bitcoin... which may say more about the understanding difficulties of the person using such expression rather than making any kind of meaningful reference to the utility and/or use cases for bitcoin (and other cryptos, too)

People are stupid.

The way current money operates is a person either hold paper money or their money is held by banks, businesses, and governments with little oversight by the general public, trust required, almost no idea what is happening behind the scenes, and new money can be generated any time by governments. In addition your money could be stolen at anytime either by a thief or by government through seizure or very slowly through inflation.

Meanwhile Bitcoin maintains a ledger where the rules are clearly agreed upon and visible to everyone, where the amount at every address is known by all, and someone can't just delete your coins nor generate coins out of thin air. If you have a wallet generated offline it is extremely secure.

Now which one sounds like magical (hope everything goes well) money and which one sounds like a trustworthy system.

Although I'm a proponent of cryptocurrencies in general, this may be a slightly oversimplified comparison.

Yes, you need to trust banks with your money, but the positive trade-offs with banks are that they can recoup your money in case of credit card fraud and robbing a bank is a whole lot harder. In comparison, imagine accidentally sending your bitcoin to the wrong account - bye bye bitcoin. Someone got access to your private key and committed the equivalent of CC fraud - bye bye bitcoin. Offline storage as the solution you say? - Forget/lose your private key - bye bye bitcoin.

Imagine waking up hung-over having lost your wallet. No worries, call banks and they'll cancel your CCs, issue you new ones and cancel any fraudulent transactions that may have occurred. Who are you going to call if you lose the bitcoin equivalent of your wallet?

Did you die in a car accident? Fortunately, your family members can get a hold of the money in your bank accounts. Bitcoin/cryptocurrencies on the other hand - I hope you remembered to tell them how to access that stuff. Otherwise bye bye money.

House burned down and you decided to save your kids instead of the hardware wallet and the paper 24 word seed. Oops, cryptocurrencies gone.

Visiting a 3rd world country and the merchant you purchased a trinket from looks at your public address and sees how much you have. Don't be surprised when some goons knock down your hotel door and demand you transfer all the bitcoin/cryptocurrency to their address. There are real disadvantages to having everything publically visible to all to see.

"can't just delete your coins nor generate coins out of thin air" - you should take a look at the notions of hard-forking and 51% attacks. A cabal of governments, if they so choose, could easily take control of the mining power of a blockchain and dominating it completely. Take a look at bitcoin itself where you're seeing a power struggle between Core and Unlimited, with a few massive Chinese mining pools able to control a large part of the bitcoin network.

These are real issues you need to address for people to actually use cryptocurrencies as money on a large scale. Especially in Western countries where the advantages of safety (including having bank deposits guaranteed by the US federal governments) severely outweigh the possibility of governmental seizure.

And make no mistake - geeks/nerds/techies/whatever you want to call them are usually hopelessly naive. All technological inventions (or the vast majority) start off with good intentions. Yet you cannot create a system that interacts with humans and doesn't sooner or later have someone trying to control the power. There are a lot of psychopaths, sociopaths and worse of all, MBAs and policy wonks, out there who will inevitable try to control blockchains.

Look at the internet. Look at the biggest players - Google, FB, Amazon. And look at what they do, whether it's Google manipulating search results, Facebook suppressing 'fake news' or Amazon arm-twisting states into basically giving them the sales tax that they collect. This too will happen with blockchain technologies.
JayJuanGee 路 2017-05-19 19:26:00 路 #4250
(05-19-2017 06:53 PM)Genghis Khan Wrote:  
(05-18-2017 10:13 PM)username Wrote:  [edited out ]

Although I'm a proponent of cryptocurrencies in general, this may be a slightly oversimplified comparison.

Yes, you need to trust banks with your money, but the positive trade-offs with banks are that they can recoup your money in case of credit card fraud and robbing a bank is a whole lot harder. In comparison, imagine accidentally sending your bitcoin to the wrong account - bye bye bitcoin. Someone got access to your private key and committed the equivalent of CC fraud - bye bye bitcoin. Offline storage as the solution you say? - Forget/lose your private key - bye bye bitcoin.

Imagine waking up hung-over having lost your wallet. No worries, call banks and they'll cancel your CCs, issue you new ones and cancel any fraudulent transactions that may have occurred. Who are you going to call if you lose the bitcoin equivalent of your wallet?

Did you die in a car accident? Fortunately, your family members can get a hold of the money in your bank accounts. Bitcoin/cryptocurrencies on the other hand - I hope you remembered to tell them how to access that stuff. Otherwise bye bye money.

House burned down and you decided to save your kids instead of the hardware wallet and the paper 24 word seed. Oops, cryptocurrencies gone.

Visiting a 3rd world country and the merchant you purchased a trinket from looks at your public address and sees how much you have. Don't be surprised when some goons knock down your hotel door and demand you transfer all the bitcoin/cryptocurrency to their address. There are real disadvantages to having everything publically visible to all to see.

Thanks for pointing out those many scenarios, and I worry about those kinds of variations a lot too, and it becomes even more important if the value of your investment goes up.

like you say, being your own bank can be a challenge in a lot of ways



(05-19-2017 06:53 PM)Genghis Khan Wrote:  "can't just delete your coins nor generate coins out of thin air" - you should take a look at the notions of hard-forking and 51% attacks. A cabal of governments, if they so choose, could easily take control of the mining power of a blockchain and dominating it completely. Take a look at bitcoin itself where you're seeing a power struggle between Core and Unlimited, with a few massive Chinese mining pools able to control a large part of the bitcoin network.

I do think that the power struggle is overexaggerated - but I do get what you are saying about the politics and jockeying that has been taking place for a few years and more intensively as time passes.

Some of these kinds of struggles seem to inevitably come with the territory of a decentralized system - and become even more intense with the increases in value of the system and the various investments of stakeholders.

Bitcoin was designed in anticipation of some of the competition - and maybe it will withstand some of the various attacks - and maybe it will implode in some way?

There are certainly reasons to hedge your investments based on these kinds of considerations and probabilities that we assign to various scenarios playing out.



(05-19-2017 06:53 PM)Genghis Khan Wrote:  These are real issues you need to address for people to actually use cryptocurrencies as money on a large scale. Especially in Western countries where the advantages of safety (including having bank deposits guaranteed by the US federal governments) severely outweigh the possibility of governmental seizure.

I don't know if anyone "needs to address" these. Surely, there are a large number of free market dynamics in bitcoin (and other cryptos as well) in which stakeholders and innovative persons will have incentives to attempt to "fix" or to lessen these kinds of various negative aspects of bitcoin (and other cryptos as well). Some other cryptos may be in a better place to attempt to more centralizedly (if that is a word) attempt to deal with these kinds of matters, but as they get bigger and if they become more decentralized, then they may be more reliant on free market incentives to attempt to address some of the issues or if the issues are not addressed or "fixed" then people can free markedly chose to invest in another system.



(05-19-2017 06:53 PM)Genghis Khan Wrote:  And make no mistake - geeks/nerds/techies/whatever you want to call them are usually hopelessly naive. All technological inventions (or the vast majority) start off with good intentions. Yet you cannot create a system that interacts with humans and doesn't sooner or later have someone trying to control the power. There are a lot of psychopaths, sociopaths and worse of all, MBAs and policy wonks, out there who will inevitable try to control blockchains.

Of course these kinds of levels of trustlessness was attempted to be built into bitcoin. Yet, as you suggest, the extent to which bitcoin is going to be able to withstand all attacks will likely be a question of time to monitor those kinds of dynamics and the various influential players (including whether there may be some nefarious and clandestine behaviors that are able tot take over control)



(05-19-2017 06:53 PM)Genghis Khan Wrote:  Look at the internet. Look at the biggest players - Google, FB, Amazon. And look at what they do, whether it's Google manipulating search results, Facebook suppressing 'fake news' or Amazon arm-twisting states into basically giving them the sales tax that they collect. This too will happen with blockchain technologies.

Sure, some of this may play out, but we cannot really know, right? 20 years ago we did not know about google or facebook or amazon, even though each of them are modeled upon some previous practices that we did know about, right?

So, even though history may rhyme in various ways, the specifics continue to remain a mystery until the specifics play out... and then it becomes more clear when the future becomes the present or the past - and anyone who says "I told you so" may have been generalizing in the previous prediction, lucky or just selectively asserting that history played out "exactly" as he had predicted.. hahahahahaha
PharaohRa 路 2017-05-19 23:54:00 路 #4251
1) There is nothing wrong with being your own bank since you are less dependent on the (((usual suspects))) for your monetary needs
2) The blockchain technology, like the force, has the potential for good and evil, it all depends on how you apply it
3) Bitcoin is now the official gold standard for cryptocurrency, that I accepted some time ago. Nothing wrong with that since it can be used as a lifeboat God forbid the government tries to deprive you of the ability to live
booshala 路 2017-05-20 00:46:00 路 #4252
https:[email protected]/why-bitcoi...dcc0c9f021

Think this is a really well thought out and reasoned article on the elements of Bitcoin. When I first got interested, it seemed like all the big names were pumping up the benefits of the "medium of exchange" aspect of Bitcoin e.g. micropayments and BTC somehow replacing fiat eventually. Now, whether by design or necessity, it seems like that idea of bitcoin paying for everything is fading and the integral aspect of BTC is more appropriately seen as a store of value: digital gold.
Armogan 路 2017-05-20 01:01:00 路 #4253
We did it, broke 2k. What a day to be alive.

Forget all the doubters we did it.
JayJuanGee 路 2017-05-20 05:11:00 路 #4254
(05-20-2017 01:01 AM)Armogan Wrote:  We did it, broke 2k. What a day to be alive.

Forget all the doubters we did it.


Not quite there, yet.. .but pretty close...

I am kind of wondering how far above $2k is necessary in order to make $2300 to $2500 as the next likely range.

Maybe breaking it will be enough? It is really difficult to tell - but it seems that there are more buyers than sellers, until there are not....


You are correct that these are very significant times, even though you seem to being a bit facetious and patronizing about the whole concept of $2k or teetering on $2k... blah blah blah.. suggesting that these growth thresholds are somehow less important than some of the thresholds being reached by other coins..

Whether you are making those profits in one coin or another, these are certainly money making times for a lot of folks (and especially comparing with traditional stocks, it just seems unsustainable and amazingly pumped - even though maybe another 2 or 3x could be added to the total crypto market cap, which is now arguably in the $70billion territory oh my oh my oh my) and really even though it might suggest comfort to be in profits, there may also be some tension for a lot of guys who hold some of these various cryptos regarding how much to cash out and whether to take profits or reallocate in times like these or maybe run some risks of missing out of further upwards price movements.
JayJuanGee 路 2017-05-20 05:16:00 路 #4255
(05-20-2017 12:46 AM)booshala Wrote:  https:[email protected]/why-bitcoi...dcc0c9f021

Think this is a really well thought out and reasoned article on the elements of Bitcoin. When I first got interested, it seemed like all the big names were pumping up the benefits of the "medium of exchange" aspect of Bitcoin e.g. micropayments and BTC somehow replacing fiat eventually. Now, whether by design or necessity, it seems like that idea of bitcoin paying for everything is fading and the integral aspect of BTC is more appropriately seen as a store of value: digital gold.

The author does seem to put out quite a few decent articles- and yeah, there seems to be kind of gravitation of market forces that are causing bitcoin to be used in ways that are different from some of the thoughts of the earlier days.

Changes in thoughts are not really new in the bitcoin space.

If you recall in the earlier days also, there were a lot of thoughts about bitcoin anonymity.. but there is now a lot of rethinking of that concept of anonymity - and what safeguards have to be taken in order to make some attempts at anonymity in bitcoin.
SunW 路 2017-05-20 10:38:00 路 #4256
(05-16-2017 04:04 PM)SunW Wrote:  Bitcoin should break out in the next 7 days. Get ready.

Rode this bitch wave for a $7.5K total return. Didn't sell any existing bitcoins, just bought some and sold all I bought from the other day.

Fuck I wish I could do this every week!
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