Bitcoin Price Thread

[schweiz]

Don't worry about me or my trades and I don't worry about yours. You don't see me posting in other threads that you're in and criticizing your stuff, do I?

That's exactly the added value in a thread: different opinions.

If only bitcoin believers can write here then you only read things like "chart looks very health to me (actually a very nice entry point at $17000). No freefall at all. And FinTech is booming as never before." which will bring innocent people to the slaughterhouse. I wrote then that it was stupid to buy there, and I was proven right as we dropped 10K per bitcoin.

What was also criminal is that Hoi who posted the "good opportunity to buy at 17K" sold his entire position a few days later. So real pump and dump, like I wrote then already.

 

[Sprout]

A visualization of the world's money supply and BTC's relativity to it.

http://money.visualcapitalist.com/worlds-money-markets-one-visualization-2017/

 

[johnarb]

the house and the whales have to be joined at the hips, if not one and the same..

this is a coordinated scam... from the ponzi-like design of the PoW scheme, the smooth talking antonopolous, the media push, the futures launch..... if you put the pieces together, they all make sense now.

I sometimes laugh to myself when I see you posting this conspiracy theory of an all-powerful bitcoin organization that has the ability to brainwash millions of people from different countries and backgrounds.

First of all, bitcoin is an open-source project, and literally, no one gets paid any bitcoin for doing anything. If you spend a million $ advertising on the NFL Superbowl, no one is going to reimburse you. Period. Only the miners get paid bitcoins when they solve a block and they have enormous infrastructure and electricity costs.

Let's back up a little bit to the history of when bitcoin first started. Satoshi Nakamoto (whoever he/she/they is/are) posted a whitepaper (still available for download) detailing a P2P digital currency to a message board frequented by cryptographers. He got some feedback and questions, but it doesn't seem to have gotten enough interest as when his bitcoin software was released which has the ability to mine/solve bitcoin blocks with each block giving 50 bitcoins at the time, he was the only one mining, and as such, mined the first million or so bitcoins.

Some people started mining, but you know, these bitcoin thingies were not worth anything, so one guy offered to send 10,000 bitcoins for a couple of pizzas and some people said he's over pricing the bitcoins, but eventually someone took him on the offer.

When it eventually had a little bit of value, people were selling 50,000 bitcoins for $1500, and some people were giving them away, there was a faucet you could visit and get 5 bitcoins a day or you can change your IP address and get more, until the faucet runs out and others refill it with donations.

When it hit dollar-parity, many of the whales were so excited to cash out to real money. Then for whatever reason, the darkweb made it their official currency.

It's an experiment that is still playing out, but the way you make it sound that it's some conspiracy where brainwashing machines are forcing people to mortgage their properties to buy bitcoin, I just don't get it.

 

[johnarb]

That's exactly the added value in a thread: different opinions.

If only bitcoin believers can write here then you only read things like "chart looks very health to me (actually a very nice entry point at $17000). No freefall at all. And FinTech is booming as never before." which will bring innocent people to the slaughterhouse. I wrote then that it was stupid to buy there, and I was proven right as we dropped 10K per bitcoin.

What was also criminal is that Hoi who posted the "good opportunity to buy at 17K" sold his entire position a few days later. So real pump and dump, like I wrote then already.

I don't mind differing opinions, but you were on a personal attack level. I posted some key support levels and you attack my analysis as "having no clue" without backing it up.

You call my long-term trade position waiting for some NEWS development as "ignorant and desperate", again without backing it up.

Here's a post today from yahoo finance news with similar numbers:
https://finance.yahoo.com/news/bitcoin-now-faces-last-major-090005188.html

The NEWS I'm referring to are NYSE, Nasdaq, Goldman Sachs, Coinbase Index fund (custodial financial products), possible ETF discussion, Coinbase banking application, Circle/Poloniex banking/exchange implementation. These are significant development to the bitcoin adoption and network implementation. See, I back it up.

 

[dozu888]

I sometimes laugh to myself when I see you posting this conspiracy theory of an all-powerful bitcoin organization that has the ability to brainwash millions of people from different countries and backgrounds.

First of all, bitcoin is an open-source project, and literally, no one gets paid any bitcoin for doing anything. If you spend a million $ advertising on the NFL Superbowl, no one is going to reimburse you. Period. Only the miners get paid bitcoins when they solve a block and they have enormous infrastructure and electricity costs.

Let's back up a little bit to the history of when bitcoin first started. Satoshi Nakamoto (whoever he/she/they is/are) posted a whitepaper (still available for download) detailing a P2P digital currency to a message board frequented by cryptographers. He got some feedback and questions, but it doesn't seem to have gotten enough interest as when his bitcoin software was released which has the ability to mine/solve bitcoin blocks with each block giving 50 bitcoins at the time, he was the only one mining, and as such, mined the first million or so bitcoins.

Some people started mining, but you know, these bitcoin thingies were not worth anything, so one guy offered to send 10,000 bitcoins for a couple of pizzas and some people said he's over pricing the bitcoins, but eventually someone took him on the offer.

When it eventually had a little bit of value, people were selling 50,000 bitcoins for $1500, and some people were giving them away, there was a faucet you could visit and get 5 bitcoins a day or you can change your IP address and get more, until the faucet runs out and others refill it with donations.

When it hit dollar-parity, many of the whales were so excited to cash out to real money. Then for whatever reason, the darkweb made it their official currency.

It's an experiment that is still playing out, but the way you make it sound that it's some conspiracy where brainwashing machines are forcing people to mortgage their properties to buy bitcoin, I just don't get it.

thanks for the bitcoin 101 crash course

yes I knew the history.

Wall Street will game everything that has potential. The history of how it was born doesn't matter much.... once something reaches critical mass, the boys will come in to game it.

 

[schweiz]

You call my long-term trade position waiting for some NEWS development as "ignorant and desperate", again without backing it up.

Watch the charts since end 2017, that's my proof.

Also the fact that you don't know where the support will finally be. You mention several different levels.

The fact that it is unhealthy that only believers can post is backed up with the posting from Hoi which I quoted. Buy at 17K was the advice, and there was no risk for a freefall.

 

[schweiz]

It's an experiment that is still playing out, but the way you make it sound that it's some conspiracy where brainwashing machines are forcing people to mortgage their properties to buy bitcoin, I just don't get it.

Weak people do stupid things because of the hype:

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11955965

http://ca.pressfrom.com/news/offbeat/-50358-dutch-family-sells-everything-to-bet-on-bitcoins/

https://www.marketwatch.com/story/how-i-lost-half-of-my-retirement-investment-in-bitcoins-2014-10-07

 

[johnarb]

Watch the charts since end 2017, that's my proof.

Also the fact that you don't know where the support will finally be. You mention several different levels.

The fact that it is unhealthy that only believers can post is backed up with the posting from Hoi which I quoted. Buy at 17K was the advice, and there was no risk for a freefall.

I'm not much of a TA trader, but was just taking a stab at support levels which seemed to be what the finance yahoo article was saying as well.

You keep mentioning Hoi, but I'm not him.

 

[johnarb]

Weak people do stupid things because of the hype:

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11955965

http://ca.pressfrom.com/news/offbeat/-50358-dutch-family-sells-everything-to-bet-on-bitcoins/

https://www.marketwatch.com/story/how-i-lost-half-of-my-retirement-investment-in-bitcoins-2014-10-07

There you go again. Personal attacks. Did any of these people borrow money from you to put their trades? Did I take money from you for my trades? Then it's none of your f*cking business. I'll just put you on ignore from now on. Don't need your bs.

 

[Illini Trader]

I respect your own investment decisions.

However - these talking points sound too much like talking points.. and each of them needs to be looked at deeply.

What you call talking points I call reality

- debt bubble - the monetary system just works this way.. dollars are created from the Fed issuing them against the treasuries... so it is designed not to be fully paid back.

This is exactly why the current system is guaranteed to fail

- BTC is established worldwide - what is the adoption rate? when was the last time you bot a loaf of bread with it?

BTC is established world wide as a store of value. Convert to an inflated currency to buy bread.

- upward limit - true, no limit, as long as there is a bigger fool (no offense);

We shall see who the bigger fool is. The one who bought BTC or the one who did not.

- supply is limited - this one sounds too much like "hurry, get them before they are all gone"

There will always be someone willing to sell you one, but at what price?

- world economic melt down - not a possibility.. this was a reality in 2008.. and I point out before, gold went DOWN... the system already demonstrated that it's robust enough to self heal.... yes, it was ugly, but it did self heal.

Not a possibility? Wow, are you going to be in for a surprise. Wake up and just look around. We exist in an economic system that is a house of cards.

- a few cents to $7k - that is not proof of anything, that is the very definition of a bubble.