double

(05-18-2017 06:02 PM)SunW Wrote:  

(05-16-2017 04:04 PM)SunW Wrote:  Bitcoin should break out in the next 7 days. Get ready.

$1760 to $1907 so far.

That was an amazing prediction.

How did you know? e.g. what gave you that much certainty?

Bitcoin over $2k?? So how long is it going to take for it to go to $20k??

(05-20-2017 08:18 PM)PharaohRa Wrote:  Bitcoin over $2k?? So how long is it going to take for it to go to $20k??

Do you think anyone would pay $20k for a bitcoin with these premises? I've posted a lot about bitcoin, you should check out my previous post if you are interested in my perspective.

(05-21-2017 03:43 AM)Satoshi Wrote:  

(05-20-2017 08:18 PM)PharaohRa Wrote:  Bitcoin over $2k?? So how long is it going to take for it to go to $20k??

Do you think anyone would pay $20k for a bitcoin with these premises? I've posted a lot about bitcoin, you should check out my previous post if you are interested in my perspective.

Yes.. Your perspective in 2015 was that bitcoin was not going to go above $300, and that did not last too long... and your perspective that bitcoin was going down from the mid-$200s, and that did not last too long. Your perspective has not really improved from there, because you have constantly predicting bitcoin's demise while the price is continuing to go up and up and up.

The best facts that you can come up with, currently, is that bitcoin is losing market share to other cryptos - but that still does not support any kind of theory of bitcoin's demise - especially when we still have doubling in bitcoin's market cap in 2017.. and no real sign that the prices is going to fall in the near future... in other words ongoing strong buying pressure... Ironic?

None of us know exactly where these various crypto prices are going to go, but $20k is in the realm of possibilities, probably not too likely in the next two years, but increasing likelihood at 5 years or more - absent some cataclysmic event.

I hate to attempt to predict that far into the s-curve adoption or exponential growth curve, snd seems that we have to get past various resistance points - which seem to be getting weaker and weaker the higher the price rises, and therefore the slope could turn from gradual to vertical, as well.

Personally, I think that our next resistance in the $2300 to $2500 range, then likely in the $3k to $5k range - and yeah, bitcoin tends to overshoot, so maybe this pump could go past $5k and even approach $10k, but $20k does not seem too likely in this pump cycle - even though you never know about the overshooting that seems to take place.

Currently, we have not really experienced any meaningful correction since $890 - so it becomes a bit scary - because a meaningful correction could happen at any time - even while the upwards movement is taking place. but usually we have to have a burst upwards and then correct from there - and some folks might characterize the rise from $1300 to present ($2050) as an exponential bubble, but it has occurred over three weeks, too... so maybe we need to have like a few days of doubling, or something like that (ini which the buying support is not following the rapid rise), and then get a large correction from there?

Until I see convincing evidence that bitcoin has overcome scaling problems and the threat of the hard fork is over, I don't see 20k bitcoin, or even 3-5k. Yes it's at 2k+ now but where is the support for that? Other than hot air, or as Greenspan once said, "irrational exhuberance?"

Don't get me wrong, I'm riding this wave as hard as you guys are. But I would like to see some convincing evidence to support this bull market. Saying that people don't see the hardfork as a threat isn't enough for me, personally.

(05-21-2017 08:07 AM)CleanSlate Wrote:  Until I see convincing evidence that bitcoin has overcome scaling problems and the threat of the hard fork is over, I don't see 20k bitcoin, or even 3-5k. Yes it's at 2k+ now but where is the support for that? Other than hot air, or as Greenspan once said, "irrational exhuberance?"

Don't get me wrong, I'm riding this wave as hard as you guys are. But I would like to see some convincing evidence to support this bull market. Saying that people don't see the hardfork as a threat isn't enough for me, personally.

To the extent that you are suggesting $20k to be a bit pie in the sky, you are correct, because no one is putting any kind of exact number on the probability.. I just asserted that it has decent chances.. and yeah, causing a number becomes considerably speculative because several things likely needs to happen first... and maybe even if I was forced to put a number (at this particular moment), I probably would assert something like less than 20% in 5 years, and I consider that to be decent chances.. maybe I am being a bit glassy-eyed based on recent performances, but that is just a number that popped in my head in order to attempt to be a bit more specific.

So, instead of getting caught upon the pie in the sky speculative and 5 years down the road, we have upwards momentum in the short term that is happening now and is likely bringing us to the $2.3k to $2.5k territory, and if we break through that, then likely in the $3k to $5k territory. Even that might not happen, but it is more immediate and has to happen first before we have any better ideas about the extent to which $10k or $20k are realistic speculations.

Regarding hard fork and scaling, sure I assert that the chances of those are exaggerated, yet resolution of those or even decent stop gap measure will be additionally bullish for bitcoin...

One thing about a lot of these alt coins, they provide a lot of experiment stations and even could cause some resolutions in the bitcoin space because of the various experiments that are taking place in the alt coins.

Maybe you are giving greater weight to the possibility of hardforks and non resolution of scaling than me, but in the meantime, we have a current situation that is not speculative - which is called ongoing and upwards buy support pressures... you think that there is not current buy support, but volume has been pretty decent over this past weekend, and the price is going up, not down... yeah, we could get a 10 or 15% correction or even more, but the more likely scenario seems to be continued up.. at least as I type - with a minor correction from $2060 to $2000 and now bouncing around in the $2020s).

(05-21-2017 08:07 AM)CleanSlate Wrote:  Until I see convincing evidence that bitcoin has overcome scaling problems and the threat of the hard fork is over, I don't see 20k bitcoin, or even 3-5k. Yes it's at 2k+ now but where is the support for that? Other than hot air, or as Greenspan once said, "irrational exhuberance?"

Don't get me wrong, I'm riding this wave as hard as you guys are. But I would like to see some convincing evidence to support this bull market. Saying that people don't see the hardfork as a threat isn't enough for me, personally.

It seems to me that Bitcoin right now is mostly riding its name recognition/first mover advantage + network effect into new markets (mostly Japan at the moment).

In my experience Bitcoin is most people's "gateway crypto". It takes quite the mental paradigm shift to truly understand fiat currencies and why something like Bitcoin can gain (and hold) value. To fully comprehend Bitcoin, one also needs a pretty firm grasp of economics/finance, data transmission/computer networking, cryptography, and game theory/human psychology. That's a fairly steep hill for most to climb, and most probably won't ever even get that far (they're the weak hands who hop in at a moment like this and then panic sell at the first correction).

Once you start looking into what's going on with Bitcoin, though, and all the other options available in the crypto space, you start seeing additional opportunities and have to compare/contrast the value props of all the other tokens in the space. It's particularly hard if you're a trader/investor, as once you get used to Bitcoin's growth you start looking around at tokens like Ethereum and wonder why you're settling for 5% a week in a space where triple digit daily growth is the norm.

So while I do expect Bitcoin to keep going up in the very short term, I imagine a lot of those investors will start diversifying once (if?) they've done their due diligence. It's just too risky to stay entirely in Bitcoin given the scaling issues and the opportunity costs.

I still have a few dozen Bitcoin, but I'm looking to diversify into a few of the alts I think will survive the coming bubble/correction. But I'll take my time, and just keep moving my stops up as Bitcoin continues to rise. And if/when the Bitcoin community gets its shit together and implements a proper scaling solution I'll be the first to buy back in.

(05-21-2017 04:57 AM)JayJuanGee Wrote:  

(05-21-2017 03:43 AM)Satoshi Wrote:  

(05-20-2017 08:18 PM)PharaohRa Wrote:  Bitcoin over $2k?? So how long is it going to take for it to go to $20k??

Do you think anyone would pay $20k for a bitcoin with these premises? I've posted a lot about bitcoin, you should check out my previous post if you are interested in my perspective.

Yes.. Your perspective in 2015 was that bitcoin was not going to go above $300, and that did not last too long... and your perspective that bitcoin was going down from the mid-$200s, and that did not last too long. Your perspective has not really improved from there, because you have constantly predicting bitcoin's demise while the price is continuing to go up and up and up.

The best facts that you can come up with, currently, is that bitcoin is losing market share to other cryptos - but that still does not support any kind of theory of bitcoin's demise - especially when we still have doubling in bitcoin's market cap in 2017.. and no real sign that the prices is going to fall in the near future... in other words ongoing strong buying pressure... Ironic?

None of us know exactly where these various crypto prices are going to go, but $20k is in the realm of possibilities, probably not too likely in the next two years, but increasing likelihood at 5 years or more - absent some cataclysmic event.

I hate to attempt to predict that far into the s-curve adoption or exponential growth curve, snd seems that we have to get past various resistance points - which seem to be getting weaker and weaker the higher the price rises, and therefore the slope could turn from gradual to vertical, as well.

Personally, I think that our next resistance in the $2300 to $2500 range, then likely in the $3k to $5k range - and yeah, bitcoin tends to overshoot, so maybe this pump could go past $5k and even approach $10k, but $20k does not seem too likely in this pump cycle - even though you never know about the overshooting that seems to take place.

Currently, we have not really experienced any meaningful correction since $890 - so it becomes a bit scary - because a meaningful correction could happen at any time - even while the upwards movement is taking place. but usually we have to have a burst upwards and then correct from there - and some folks might characterize the rise from $1300 to present ($2050) as an exponential bubble, but it has occurred over three weeks, too... so maybe we need to have like a few days of doubling, or something like that (ini which the buying support is not following the rapid rise), and then get a large correction from there?

This pic was posted in another thread on this forum and proves my point well. As you can see, bitcoin is at the bottom of this chart. Now bitcoin is at 46 %. And ETH is at 50 % of bitcoin. I've been saying this for years.

I am living in Canada right now. How do I buy ETH and BTC? Would you guys recommend I buy now? I am going through this whole thread at the moment to do more research. On page 19 now.

(05-21-2017 04:10 PM)CaptainChardonnay Wrote:  I am living in Canada right now. How do I buy ETH and BTC? Would you guys recommend I buy now? I am going through this whole thread at the moment to do more research. On page 19 now.

Coinbase.com is a good starting point for anyone new to crypto. Not sure how Canadian laws are different from here in the U.S. though so you might want to do some Googling before getting started.

Personally I would NOT buy Bitcoin right now. I love it, it made me rich, but Ethereum is simply a better play at the moment. Maybe do something like a 50/50 (or 20/80) split if you're unsure.

From what I understand, if Bitcoin reaches ~$2500 Mt Gox will actually become profitable again, and I imagine would be forced to sell their 200k BTC in order to settle all the claims against them. Talk about a sell wall!

Here's the data I've found pertaining to that: https://www.reddit.com/r/mtgoxinsolvency...r_we_want/

Does anyone else have any input regarding this situation? It seems like the court will settle claims in JPY but I can't find anything certain on the subject.

(05-21-2017 04:10 PM)CaptainChardonnay Wrote:  I am living in Canada right now. How do I buy ETH and BTC? Would you guys recommend I buy now? I am going through this whole thread at the moment to do more research. On page 19 now.

I am not sure which exchanges that you have available in Canada.. to get started....

Maybe you have Coinbase, Kraken and Gemini???? You have local bitcoins, too, and there are likely other options, too, I am not sure.

Regarding any investment after an exponential growth period, it is risky.

You need to account personally for your goals, your timeline and your risk profile (including other investments that you have)

So, for example if you have $1k to invest now and $1.2k to invest over the next 6 months (due to cashflow), then maybe you would only invest $333 now, and then attempt to time the dips with the other $667? and then maybe $200 a month (or $50 a week). Of course, you can try other strategies, to be more or less aggressive regarding your allocation, I would not recommend very high ratios into ETH, but surely a large number RVF guys seem to be quasi-bullish about ETH - and you could cross post in the Ethereum thread in order to attempt some ETH brainstorming.

https://www.rooshvforum.com/thread-62546...pid1575482

(05-21-2017 04:23 PM)Isaac Jordan Wrote:  From what I understand, if Bitcoin reaches ~$2500 Mt Gox will actually become profitable again, and I imagine would be forced to sell their 200k BTC in order to settle all the claims against them. Talk about a sell wall!

Here's the data I've found pertaining to that: https://www.reddit.com/r/mtgoxinsolvency...r_we_want/

Does anyone else have any input regarding this situation? It seems like the court will settle claims in JPY but I can't find anything certain on the subject.

I had read various accounts of this too, and the whole situation is not necessarily as bearish as it is made out to be, and really we do not know specifics concerning the extent to which any liquidation would be attempted and what kinds of chunks would be liquidated - likely over the counter, too in order to cause less slippage.

Sure, they could strategically place coins on exchanges too, or even have an auction.

Without specifics, the subject matter seems to be used as a form of FUD spreading rather than attempting to get at real substance or real life implementations that are being considered by the GOX coin administrators.

(05-21-2017 04:16 PM)Isaac Jordan Wrote:  

(05-21-2017 04:10 PM)CaptainChardonnay Wrote:  I am living in Canada right now. How do I buy ETH and BTC? Would you guys recommend I buy now? I am going through this whole thread at the moment to do more research. On page 19 now.

Coinbase.com is a good starting point for anyone new to crypto. Not sure how Canadian laws are different from here in the U.S. though so you might want to do some Googling before getting started.

Personally I would NOT buy Bitcoin right now. I love it, it made me rich, but Ethereum is simply a better play at the moment. Maybe do something like a 50/50 (or 20/80) split if you're unsure.

Not sure why but I'm having difficulty linking my credit card up with Coinbase. Also is it normal for them to charge you a 3.75% fee?

(05-21-2017 05:08 PM)CaptainChardonnay Wrote:  Not sure why but I'm having difficulty linking my credit card up with Coinbase. Also is it normal for them to charge you a 3.75% fee?

They charge different fees for different payment methods.

Credit and debit cards can purchase crypto assets instantly, but at a higher fee rate.

Bank account transfers lock in the price when you buy, but Coinbase won't credit you with your tokens until they receive the money on their end (and these ACH transfers can take 3-5 business days).

(05-21-2017 05:42 PM)Isaac Jordan Wrote:  

(05-21-2017 05:08 PM)CaptainChardonnay Wrote:  Not sure why but I'm having difficulty linking my credit card up with Coinbase. Also is it normal for them to charge you a 3.75% fee?

They charge different fees for different payment methods.

Credit and debit cards can purchase crypto assets instantly, but at a higher fee rate.

Bank account transfers lock in the price when you buy, but Coinbase won't credit you with your tokens until they receive the money on their end (and these ACH transfers can take 3-5 business days).

Overall it is usually not a good idea to use credit cards because there are so many fees and frequently hidden, unless you have some kind of special credit card.

It is generally better to establish various bank account connections, and then just have a bit of a cushion so that you do not necessarily need the BTC right away, because as Isaac indicated the transaction is actually locked in at the time that you
make it, rather than the time that you actually receive the coins.

Another thing for newbie accounts is dealing with buy / sell limits, and sometimes it can take a month or more to get your buy / sell limits raised while they are getting to know you and verify your identity. Sometimes you can work your way around these identity matters by establishing several accounts, or just attempting to find someone to directly transact with you for your first several purchases, until your limits may get raised on one exchange or another.

Currently, there are some rumors of an agreement that has been reached and will be published in the morning - presumably involving segwit and scaling.

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


Will this play out as positive news? Evolving topic, waiting for market reaction and to be determined.

(05-21-2017 06:33 PM)JayJuanGee Wrote:  Currently, there are some rumors of an agreement that has been reached and will be published in the morning - presumably involving segwit and scaling.

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


Will this play out as positive news? Evolving topic, waiting for market reaction and to be determined.

Probably, everyone with insider knowledge is supposed to keep their lips sealed until the public announcement, supposedly tomorrow..

But Charlie Shrem is giving little hints... .. maybe he will get in trouble for such sharing.. .. saying "bullish" and "related to seg wit"? If it is true, we could be on our way to the $3k to $5k territory.. buy more? or hodl? or sell, if you don't believe it?

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

How quick do you guys sell little coins after buying? I bought a combo of DGB, RDD and SYS fifteen hours ago on Bittrex and it was all worth 0.8btc when I went to bed. It's now worth 1.6btc...I'm using the HODL mentality and reading /biz/, reddit, youtube, etc but I don't want to get too greedy.

(05-21-2017 09:26 PM)Hyperflux Wrote:  How quick do you guys sell little coins after buying? I bought a combo of DGB, RDD and SYS fifteen hours ago on Bittrex and it was all worth 0.8btc when I went to bed. It's now worth 1.6btc...I'm using the HODL mentality and reading /biz/, reddit, youtube, etc but I don't want to get too greedy.

Long term HODL only works if you believe that the asset has strong fundamentals.... otherwise, you need to have some kind of exit plan, whether that is selling all at once or selling incrementally in stages.

I tend to attempt incremental selling, and if I believe in the fundamentals I will spread out the sales over a long period and through low amounts.

If I do not believe in the fundamentals, I still sell incrementally but more quickly and in larger percentages.

(05-21-2017 09:40 PM)JayJuanGee Wrote:  

(05-21-2017 09:26 PM)Hyperflux Wrote:  How quick do you guys sell little coins after buying? I bought a combo of DGB, RDD and SYS fifteen hours ago on Bittrex and it was all worth 0.8btc when I went to bed. It's now worth 1.6btc...I'm using the HODL mentality and reading /biz/, reddit, youtube, etc but I don't want to get too greedy.

Long term HODL only works if you believe that the asset has strong fundamentals.... otherwise, you need to have some kind of exit plan, whether that is selling all at once or selling incrementally in stages.

Can't second this strongly enough. Crypto right now is in the middle of an insane bull run; you can pretty much throw darts blindfolded and still hit some big green candles.

However, the VAST majority of tokens are scams, ponzi schemes, rip-offs, copy cats, and just all-around crap. It takes real detective work to figure out where the value actually lies.

If you're trying to day trade based off technical analysis, or you just feel like gambling, then yeah go have some fun. But if you're approaching this from the point of view of an investor, you need to have the mindset of an investor. It's a lot of work, separating the Amazons from the Pets.coms.

Here's a reddit poster I've been following for some time, he wrote up a little series called The Intelligent Investor's Guide to Cryptocurrency. I couldn't recommend it more highly:

The Intelligent Investor's Guide to Cryptocurrency

(05-21-2017 09:58 PM)Isaac Jordan Wrote:  The Intelligent Investor's Guide to Cryptocurrency

Most informative guide to cryptos I've ever seen! Thanks for sharing.

This also makes me want to double down on ETH despite its current ATH. It looks like the big boys are ready to jump in this year. If it were any other coin, I would sell half of my stack.

(05-22-2017 01:38 AM)CleanSlate Wrote:  This also makes me want to double down on ETH despite its current ATH. It looks like the big boys are ready to jump in this year. If it were any other coin, I would sell half of my stack.

I'd really like to hold on to my ETH for at least another year. Here in the States that's long-term capital gains territory, which cuts my taxes roughly in half if/when I sell.

(I've been using a lot of the Bitcoin I bought around this time last year to buy Ether; technically the crypto asset is considered sold at the time it's used to buy a different crypto, so I only use "old" Bitcoin to buy new Ether, for tax savings.)

Ideally though, ETH continues to grow and (eventually) stabilize, as once the protocol switches to proof-of-stake (sometime within the next year) we'll be able to stake coins in a node on our computers and receive interest in return for helping to secure the network, likely somewhere in the range of 3-6% a year.

3-6% interest, on an already rapidly appreciating asset!

(Sorry Bitcoin, I love you but that's a tough act to beat)

Anyone have any experience selling stuff online for bitcoin? For example I post something on Craigslist and say hey open to selling X for bitcoin. Someone sends me a message, how would it go down?

I'd send them my account number and wait for the funds to come through and I can see it in my wallet then I hand them over the item I'm selling?