(06-14-2017 12:47 PM)Darkwing Buck Wrote:  Bought another 2 ETH yesterday at 368 and today at 355.

LOL at the people getting scared and selling. This shit's chess it ain't checkers. I think we'll hit $500 by year's end and $1000 by this time next year.

Hilarious that the guy who bought 2 ETH in the mid $300's is talking about being ahead of the curve. For some perspective, you got some members on this thread that bought thousands of ETH in the single digits.

(06-14-2017 01:06 PM)booshala Wrote:  

(06-14-2017 12:47 PM)Darkwing Buck Wrote:  Bought another 2 ETH yesterday at 368 and today at 355.

LOL at the people getting scared and selling. This shit's chess it ain't checkers. I think we'll hit $500 by year's end and $1000 by this time next year.

Hilarious that the guy who bought 2 ETH in the mid $300's is talking about being ahead of the curve. For some perspective, you got some members on this thread that bought thousands of ETH in the single digits.

1. I'm not saying I'm "ahead of the curve". Please quote me where I said that.

2. Those are the ETH I bought this week. I originally bought in when it was in the 80s. I also own thousands in ETH.

3. My point is people are scaring too easily in the crypto community from minor drops instead of having discipline. Also a dip is just a good opportunity to buy. Long term holders should not panic so easily. I specifically criticized people getting scared and selling. With the upcoming bitcoin fork in August, the fact ETH surpassed bitcoin in google searches yesterday, growing exposure and press attention, growing daily trading volume and market cap, now is possibly the worst possible time to sell. That was why I made that post.

Take your fucking condescension and one up attitude and stow it.

Chillax guys we're all on the same team and here to make $$

A lot of speculation about the correction. I don't think it will happen this summer. The flip will surely happen by the end of the year and I believe some whales will be tempted to cash in a bit as the normies would want to get in (and invest in crypto in general).

ETH has been doubling every month for a while. It will reach +$500 in no time.

(06-14-2017 01:20 PM)Gmac Wrote:  Chillax guys we're all on the same team and here to make $$

+1

Cool down kids.

(06-14-2017 01:20 PM)Gmac Wrote:  Chillax guys we're all on the same team and here to make $$

Agreed. I only shoot when fired on.

I'd recommend all of you at least figure out your exit strategy. How to protect yourself in the event of a crash. I'm putting most of my crypto into fiat next week. I hope I make it.

Agree completely with Gmac. There is no team Etherium, there is no team Bitcoin. There is only "Team RvF makes a shit ton of money."

That said, I'm starting to understand how much personal biases, which are separate from any kind of real data, inform a person's beliefs in cryptocurrency. They provide a framework that determines how you view the events around you, in the same way that if you're a global warming enthusiast, every storm, every hot summer, and even earthquakes are indicators of global warming. And I think there might be a lot of personal biases around here.

It would be wrong for me to assume anybody else's biases, so I'll be upfront about my own. I think that Etherium has the potential to overtake bitcoin in the long term. Here's why: I think that Bitcoin's strongest advantage is that everyone uses bitcoin. Network effect. But very little people who hold bitcoin are using it to do anything, even if you can do more things with it than you can with ETH, which means that the hold it has on its users is more tenuous than it appears. Once the idea that Cryptocurrency = Bitcoin shatters in the public's mind, I think bitcoin may be in for a long, sustained fall. I've talked several times about the general lack of sophistication among investors, which I think means they're extremely valuable to crowd psychology, and once the idea that bitcoin might be in for a sustained fall instead of a temporary one takes root, we're going to see a mass sell-off into other coins. (Not necessarily ETH, potentially other cryptocurrencies.) I think the flippening might be the trigger for this.

This opinion of mine is worthless. Note that I didn't say wrong: it could well be right for all I know. But it is the opinion of someone who A.) has never invested in his life B.) has been involved in the cryptocurrency world for less than 72 hours C.) holds his entire portfolio in ETH, and it's a pretty small portfolio, since I just purchased it on Sunday. I'm well aware of this, and yet I still can't help but let it color my beliefs whenever I read something on ETH or bitcoin. Bad news for ETH gets ignored or minimized (The fact that its founder is a genius, but also a very weird kid), and so does good news for Bitcoin (the possibility that any of ETH's advantages could be ported back to the BTC blockchain).

All humans are subject to these internal biases, or frames I think they're called in AI, where they decide what's important. And these frames are highly dependent on initial conditions: I picked ETH over BTC because of a short conversation I had with another member on twitter. If I'd picked BTC instead I would probably have the exact opposite set of beliefs, and be writing about how ETH was a flash in the pan due to the superior network effects of BTC's blockchain.

I think the cure for this is A.) lots of reading opposite viewpoints B.) realizing that this isn't politics, you can switch your portfolio around at any time and nobody will give a shit, C.) being conscious of your own biases and trying to keep them in check.

(06-14-2017 02:56 PM)SamuelBRoberts Wrote:  I think the cure for this is A.) lots of reading opposite viewpoints B.) realizing that this isn't politics, you can switch your portfolio around at any time and nobody will give a shit, C.) being conscious of your own biases and trying to keep them in check.

And D.) Diversify!

(06-14-2017 03:25 PM)This Is Trouble Wrote:  

(06-14-2017 02:56 PM)SamuelBRoberts Wrote:  I think the cure for this is A.) lots of reading opposite viewpoints B.) realizing that this isn't politics, you can switch your portfolio around at any time and nobody will give a shit, C.) being conscious of your own biases and trying to keep them in check.

And D.) Diversify!

That's also true!

I'm thinking of moving into 30% BTC 60% ETH and 10% Play around money, but that could change very rapidly. Locked out of the market until my transfer goes through on Friday, which is good because it gives me more time to read about all this stuff.

I'm about to get in a long car ride.
Can anyone recommend some good cryptocurrency podcasts or youtubers they like?

(06-14-2017 03:31 PM)SamuelBRoberts Wrote:  I'm about to get in a long car ride.
Can anyone recommend some good cryptocurrency podcasts or youtubers they like?

Podcasts:
Unchained with Laura Shin
Trace Mayer's podcast
Tim Ferriss' most recent podcast with Nick Szabo

(06-14-2017 03:31 PM)SamuelBRoberts Wrote:  I'm about to get in a long car ride.
Can anyone recommend some good cryptocurrency podcasts or youtubers they like?

I just did one with a buddy who has cleared over $100k this year. Just dropped today: https://thisistrouble.com/2017/06/14/one...ocurrency/

(06-14-2017 02:15 PM)Darkwing Buck Wrote:  

(06-14-2017 01:20 PM)Gmac Wrote:  Chillax guys we're all on the same team and here to make $$

Agreed. I only shoot when fired on.

Admit my words were inelegant but your post reeked of hubris especially when others have contributed in this thread and made huge returns while still maintaining humility. But in the spirit of bridge building, I apologize for offending you.

Will listen. Thanks!

(06-14-2017 03:42 PM)booshala Wrote:  

(06-14-2017 02:15 PM)Darkwing Buck Wrote:  

(06-14-2017 01:20 PM)Gmac Wrote:  Chillax guys we're all on the same team and here to make $$

Agreed. I only shoot when fired on.

Admit my words were inelegant but your post reeked of hubris especially when others have contributed in this thread and made huge returns while still maintaining humility. But in the spirit of bridge building, I apologize for offending you.

Hmmm hubris? Boasting? I did none of the such that's just how I talk. And my post wasn't even directed at anyone in this thread but I'll argue no further and let bygones be bygones in the spirit of bridge building as you say.

(06-14-2017 02:56 PM)SamuelBRoberts Wrote:  Agree completely with Gmac. There is no team Etherium, there is no team Bitcoin. There is only "Team RvF makes a shit ton of money."

Where's the guy who predicted the correction? We're at $340 right now I'm sweating a little bit but obviously gonna hold considering I'm not a trader and I predict long term we will hit $500 before year's end.

But still a bit unsettling though every single crypto other than zcash is in red right now. Also could be market manipulation/whales going on. Who knows I'm not that smart.

Hold on tight boys!

EDIT: And it's already up to 345 again. Rollercoaster today haha. In reality no point worrying over hourly fluctuations unless it stretches over several days. Can't let greed and shortsightedness get the best of us though I know a lot of long term holders on reddit have sold to realize their gains. Ethereum has definitely made some millionaires.

(06-14-2017 04:49 PM)Darkwing Buck Wrote:  Where's the guy who predicted the correction? We're at $340 right now I'm sweating a little bit but obviously gonna hold considering I'm not a trader and I predict long term we will hit $500 before year's end.

But still a bit unsettling though every single crypto other than zcash is in red right now. Also could be market manipulation/whales going on. Who knows I'm not that smart.

Hold on tight boys!

I think that it has a bit to do with the Jihan Wu, bitmain announcement about attempting to force a bitcoin hardfork.

Such news creates some uncertainty, but also an opportunity for whales to push downwards and either change momentum or create momentum (downwards in this case).. which as you noted is affecting most if not all coins.

(06-14-2017 04:57 PM)JayJuanGee Wrote:  

(06-14-2017 04:49 PM)Darkwing Buck Wrote:  Where's the guy who predicted the correction? We're at $340 right now I'm sweating a little bit but obviously gonna hold considering I'm not a trader and I predict long term we will hit $500 before year's end.

But still a bit unsettling though every single crypto other than zcash is in red right now. Also could be market manipulation/whales going on. Who knows I'm not that smart.

Hold on tight boys!

I think that it has a bit to do with the Jihan Wu, bitmain announcement about attempting to force a bitcoin hardfork.

Such news creates some uncertainty, but also an opportunity for whales to push downwards and either change momentum or create momentum (downwards in this case).. which as you noted is affecting most if not all coins.

I sold my small amount of BTC I had a couple days ago because I don't trust the fork/split that's coming up. I didn't want to deal with the headache and possible price crash and splitting up of the currency come August for the small amount I was holding and I bought in at under 1800 and sold at 2700.

I think that August will hasten the "flippening" where Ethereum takes over and we see a massive sell off of bitcoin and a massive price surge for ETH.

(06-14-2017 05:06 PM)Darkwing Buck Wrote:  

(06-14-2017 04:57 PM)JayJuanGee Wrote:  

(06-14-2017 04:49 PM)Darkwing Buck Wrote:  Where's the guy who predicted the correction? We're at $340 right now I'm sweating a little bit but obviously gonna hold considering I'm not a trader and I predict long term we will hit $500 before year's end.

But still a bit unsettling though every single crypto other than zcash is in red right now. Also could be market manipulation/whales going on. Who knows I'm not that smart.

Hold on tight boys!

I think that it has a bit to do with the Jihan Wu, bitmain announcement about attempting to force a bitcoin hardfork.

Such news creates some uncertainty, but also an opportunity for whales to push downwards and either change momentum or create momentum (downwards in this case).. which as you noted is affecting most if not all coins.

I sold my small amount of BTC I had a couple days ago because I don't trust the fork/split that's coming up. I didn't want to deal with the headache and possible price crash and splitting up of the currency come August for the small amount I was holding and I bought in at under 1800 and sold at 2700.

I think that August will hasten the "flippening" where Ethereum takes over and we see a massive sell off of bitcoin and a massive price surge for ETH.

Sure we are free to have our own outlooks - and in that regard, I don't think that the "flippening" plays as big of a role as folks make it to play, but sure it could play some role on the margins - on the other hand, this announcement of the hardfork - kind of pushes the timeline of the August 1 issue to come a whole hell-of-a-lot sooner - and maybe attempting to cause the issue to be forced RIGHT NOW!!!!!..

The bitmain announcement seems to be a kind of manipulation.. and seemingly successful, at least for the moment with nearly a 10% correction - and surely if it can cause an additional 10-20% correction in this leg, there can be some success with that, too.....

I don't claim to be any kind of sooth sayer, but I consider this to be the second leg of a correction that started in bitcoin from $2980 and maybe we are going to have three legs to the correction, and it is kind of difficult to know how it may play out..

Surely, if there begins to be some opposite correlation of the price direction of ETH and BTC, then ETH could double or triple BTC's market cap... and so the "flippening" can take place fairly rapidly and even though I am not personally betting on such a scenario of ETH becoming 2x or 3x of BTC, it does have decent odds, maybe above 30% based on current circumstances.. ..

but in my opinion, the flippening is very easy odds to occur, and is likely largely already accounted as a fairly likely scenario that could occur one way or another..

Just a few days ago, I had been thinking that the odds of bitcoin breaking above $3k and going to $4 to $6k were pretty good in the next 6 weeks - but this latest news kind of flips those odds on their head and gives pretty decent odds to a short-to medium term downward scenario, and this is the second leg that could bring us into the sub $2k and the third leg would be possibly in the $1500 range. Harder to go below $1500 but certainly not impossible. and even breaking below $1k is not out of the question.

I don't know how high the odds to play out the full extent of the second leg or the third leg, because matters can reverse too.. and it is not obvious that other coins would have a reverse correlation to bitcoin's price, but some might, such as ETH...

I guess no matter which of the price pairs you are playing or watching, you gotta budget in some uncertainties in terms of duration of the moves, intensities and even unexpected reversals.

Currently we are getting pretty high trade volumes in both BTC and ETH - but there could still be some additional ammunition that is being saved in order to attempt to push the extreme more extremely - which is not unheard of in cryptoland. and the next couple of days may give us some additional clues about the direction that these price movements may be playing out.

(06-14-2017 05:31 PM)JayJuanGee Wrote:  

(06-14-2017 05:06 PM)Darkwing Buck Wrote:  

(06-14-2017 04:57 PM)JayJuanGee Wrote:  

(06-14-2017 04:49 PM)Darkwing Buck Wrote:  Where's the guy who predicted the correction? We're at $340 right now I'm sweating a little bit but obviously gonna hold considering I'm not a trader and I predict long term we will hit $500 before year's end.

But still a bit unsettling though every single crypto other than zcash is in red right now. Also could be market manipulation/whales going on. Who knows I'm not that smart.

Hold on tight boys!

I think that it has a bit to do with the Jihan Wu, bitmain announcement about attempting to force a bitcoin hardfork.

Such news creates some uncertainty, but also an opportunity for whales to push downwards and either change momentum or create momentum (downwards in this case).. which as you noted is affecting most if not all coins.

I sold my small amount of BTC I had a couple days ago because I don't trust the fork/split that's coming up. I didn't want to deal with the headache and possible price crash and splitting up of the currency come August for the small amount I was holding and I bought in at under 1800 and sold at 2700.

I think that August will hasten the "flippening" where Ethereum takes over and we see a massive sell off of bitcoin and a massive price surge for ETH.

Sure we are free to have our own outlooks - and in that regard, I don't think that the "flippening" plays as big of a role as folks make it to play, but sure it could play some role on the margins - on the other hand, this announcement of the hardfork - kind of pushes the timeline of the August 1 issue to come a whole hell-of-a-lot sooner - and maybe attempting to cause the issue to be forced RIGHT NOW!!!!!..

The bitmain announcement seems to be a kind of manipulation.. and seemingly successful, at least for the moment with nearly a 10% correction - and surely if it can cause an additional 10-20% correction in this leg, there can be some success with that, too.....

I don't claim to be any kind of sooth sayer, but I consider this to be the second leg of a correction that started in bitcoin from $2980 and maybe we are going to have three legs to the correction, and it is kind of difficult to know how it may play out..

Surely, if there begins to be some opposite correlation of the price direction of ETH and BTC, then ETH could double or triple BTC's market cap... and so the "flippening" can take place fairly rapidly and even though I am not personally betting on such a scenario of ETH becoming 2x or 3x of BTC, it does have decent odds, maybe above 30% based on current circumstances.. ..

but in my opinion, the flippening is very easy odds to occur, and is likely largely already accounted as a fairly likely scenario that could occur one way or another..

Just a few days ago, I had been thinking that the odds of bitcoin breaking above $3k and going to $4 to $6k were pretty good in the next 6 weeks - but this latest news kind of flips those odds on their head and gives pretty decent odds to a short-to medium term downward scenario, and this is the second leg that could bring us into the sub $2k and the third leg would be possibly in the $1500 range. Harder to go below $1500 but certainly not impossible. and even breaking below $1k is not out of the question.

I don't know how high the odds to play out the full extent of the second leg or the third leg, because matters can reverse too.. and it is not obvious that other coins would have a reverse correlation to bitcoin's price, but some might, such as ETH...

I guess no matter which of the price pairs you are playing or watching, you gotta budget in some uncertainties in terms of duration of the moves, intensities and even unexpected reversals.

Currently we are getting pretty high trade volumes in both BTC and ETH - but there could still be some additional ammunition that is being saved in order to attempt to push the extreme more extremely - which is not unheard of in cryptoland. and the next couple of days may give us some additional clues about the direction that these price movements may be playing out.

Yeah man at the end of the day we're all speculating. At this point I'm only watching ETH since I sold my small BTC holding.

We have crashed back down to 319 and I've loaded up more money on the exchange to pick up some cheap ETH. I fully believe that ETH will hit $500 this year which is why I'm willing to do this.

This is fucking interesting I almost don't want to leave work and drive home for an hour because I don't know if I'll have missed my chance to pick up some ETH at the bottom before it bounces back up.

The next 48 hours will be interesting. I'm refreshing my Gemini page constantly right now hahah

Holy fuck are you guys watching this? We've yo-yo'd down to 312, back up to 344, and now back down to 327 in like 15 minutes. I tried to buy at 312 and buy the time I placed my order we were at 330. Crazy.

Wonder what price we're going to settle around.

(06-14-2017 05:43 PM)Darkwing Buck Wrote:  

(06-14-2017 05:31 PM)JayJuanGee Wrote:  [edited out]

Yeah man at the end of the day we're all speculating. At this point I'm only watching ETH since I sold my small BTC holding.

Well, some theories are more convincing than others, and sometimes we need to take the various theories into account because besides just looking at momentum, the ideas in the heads of people influence their buying and selling behaviors and the buying and selling behaviors of others.

Furthermore, what is going on in some related markets have greater or lesser effects on the other markets, so even if you sold all of your bitcoin, happenings in bitcoin can affect your ETH prices.

(06-14-2017 05:43 PM)Darkwing Buck Wrote:  We have crashed back down to 319 and I've loaded up more money on the exchange to pick up some cheap ETH. I fully believe that ETH will hit $500 this year which is why I'm willing to do this.

It is definitely good for you to have a view of what you believe is likely to happen in spite of shorter term price movements, because frequently when prices move 10% or more in a day, and then when that happens over several days in a row, even some of the more veteran of coin holders began to become nervous and even consider whether they need to tweak their strategy in one way or another.

(06-14-2017 05:43 PM)Darkwing Buck Wrote:  This is fucking interesting I almost don't want to leave work and drive home for an hour because I don't know if I'll have missed my chance to pick up some ETH at the bottom before it bounces back up.

The next 48 hours will be interesting. I'm refreshing my Gemini page constantly right now hahah

Sometimes I feel like "fuck I got better things to do" but large price changes do tend to provide opportunities, if you have a few ideas about some of your triggering points.

s

(06-14-2017 05:43 PM)Darkwing Buck Wrote:  I fully believe that ETH will hit $500 this year which is why I'm willing to do this.

What's your reasoning behind this? Considering that ETH has already appreciated 4000 % since the beginning of the year.

(06-14-2017 05:31 PM)JayJuanGee Wrote:  Just a few days ago, I had been thinking that the odds of bitcoin breaking above $3k and going to $4 to $6k were pretty good in the next 6 weeks - but this latest news kind of flips those odds on their head and gives pretty decent odds to a short-to medium term downward scenario, and this is the second leg that could bring us into the sub $2k and the third leg would be possibly in the $1500 range. Harder to go below $1500 but certainly not impossible. and even breaking below $1k is not out of the question.

I don't know how high the odds to play out the full extent of the second leg or the third leg, because matters can reverse too.. and it is not obvious that other coins would have a reverse correlation to bitcoin's price, but some might, such as ETH...

So you've sold?