Bitcoin / Cryptocurrency Discussion (And Predictions)

[ColbyG]

Here's a few points that I think could provoke some interesting discussions.

1. When would you say Bitcoin is stable enough to actually use it to buy everyday products? I.e. when is it no longer an investment? Is it a dollar amount? Is it an adoption amount? Or would you never use it for purchases?

2. Assuming Bitcoin becomes mainstream money, it actually doesn't matter what the price of Bitcoin is, it only matters how many Bitcoin you have since everything is sold in Bitcoin and the dollar is irrelevant/worthless.

3. What will happen to fiat currencies (and the people with a huge amount of fiat) when Bitcoin achieves significant mainstream adoption? e.g. 35% of all transactions are done in Bitcoin. Keeping in mind this is more along the lines of a 15 year timeline versus a 2 year timeline.

 

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[Kingmaker]

Still waiting on Eth... patience in not selling out early for less profits

I'm not worried, ETH about to break $500 on CryptoKitties hype:
The ethereum world is now obsessed with breeding cartoon cats

Disclaimer: I own two kitties.
Disclaimer2: Offering my services as a Cat Husbandry Market Analyst. Srs.

 

[B. Cole]

Bear with me, been following this for a short while and thinking about conservatively going in...but like most former slowlaners, I find myself vetting and shedding slowlane thinking habits.

In all of this craziness and volatility on the big 3, anybody messing with XRP/Ripple? Any thoughts of ripple being a medium in the US economy the government can control for those afraid of walking around the big banks completely with BC/LC/ETH?

At some point the block chain technology will begin to normalize, the question to answer is whether the US will pull the control card and XRP/Ripple becomes the approved in house currency. Is the end game to have a shit ton of different coins, or will the world unite and have one currency? This is a huge thought and paradigm shift toward global economy blending, one I can’t wrap my head around yet.

Just can’t help but think that at some point, governments will create laws to pick accepted currencies in their borders (think China and Japan, one says crypto is of no value within its borders, the other embraces it). This war over who gets screwed and who is approved for acceptance could mean billions made and billions lost all over, a new wave of volatility. Of course there will be a conversion period as people shift to the accepted brand, but right now it seems, at least to me, that everyone is playing with different flavors of Monopoly money, and in the end, earth will perhaps have to pick one. Perhaps in the next decade the market will only have a few survivors and make it easy. Perhaps we see many more new coins created, or perhaps we witness a forced adoption before there are too many.

Very excited about these prospects. Thoughts?

 

[B. Cole]

I'm not worried, ETH about to break $500 on CryptoKitties hype:
The ethereum world is now obsessed with breeding cartoon cats

Disclaimer: I own two kitties.
Disclaimer2: Offering my services as a Cat Husbandry Market Analyst. Srs.

OMG cats. I hate cats. Unless one of them can make me money. In which case, I love cats.

 

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[mike24601]

 

[GrayCode]

@James Fend What're your thoughts on XRP. I did some research and it looks like they are taking another route by getting banks involved and on the same page. They are working with some really big banks right now and adding more to their portfolio. I see this as a potential that XRP could be in a buy and hold spot right now.

What do you think?

 

[MattR82]

I know absolutely nothing about bitcoin but some friends see I'm in fb groups related to crypto (which I don't even check anymore) and I get a tonne of messages asking how to buy it asap asap asap! FOMO is crazy strong!

 

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[Kingmaker]

OMG cats. I hate cats. Unless one of them can make me money. In which case, I love cats.

My cat price doubled in the last few hours, CryptoKitties congested Etherium network to the point where they had to double the birthing fee:

Highlights two things imo:
1) Scalability and faster transactions are a barrier that needs to be solved for mass adoption.
2) People are yearning for a way to actually use their coins, not just hodl.

#bonus This gets more Women using cryptocurrencies

 

[458]

Its gone mainstream, the end is near.

 

[gileneusz]

I would bet all my money on short on bitcoin. I've found this article 5 Ways to Short Bitcoin

 

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[JamesDB]

I would bet all my money on short on bitcoin. I've found this article 5 Ways to Short Bitcoin

 

[Mineralogic]

Its gone mainstream, the end is near.

Definitely time to be aware/finger on trigger. BTC has very little reasons to be at 11k up here so quickly

 

[Mineralogic]

Was speaking to one of my friend's mom and uncle who are looking to invest in the crypto space. It was interesting hearing their point of view:

They are interested in holding long term, but instead of investing heavily in the big 3, they want to invest in mostly alt-coins that are around $1 because "all it takes is one of them to go to $1000 and we are set!"

Reminds me of penny stock mentality... Sends off some red flags in my head.

I feel like we are shifting from trading crypto into trading against human emotion now. Much different ball game if you don't hold long term

correct

 

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[James Fake]

December 4, 2017:
I pulled my profits out of LTC and such & back in fiat. I believe Bitcoin is heading into another consolidation phase around ~$11.4k.. slightly upward. You may catch it lows at $11.2k or $11.3k.. These have been breaking out faster and faster as the price has gotten higher & market demand has gotten bigger. Upward or downward, we do not know yet.

But my cryptical analysis says upward. I think it's all upward from here until CME comes on board. Without getting too deep; I believe the majority of crypto traders are setting up to give these little stock traders a nice big welcome to the wild wild West from their safe little playground aka a big correction aka cashing out profits when big arrogant money comes in aka those poor guys are going to lose a shit ton of money.

Just my opinion... because that's exactly what I plan to do. I wouldn't be surprised at steady $12k range, peaking at touching some $13k before they come on board. Around December 17th is when I predict the profits will start to be taken out; the smart ones will start pulling around the 15th.

 

[Paul Weese]

I would say bitcoin is in a huge bubble. Now I haven't researched this in depth or read the gold thread but all of the signs are there in my opinion. Most people buying bitcoin aren't buying because, "Wow blockchain technology and cryptocurrencies are so valuable/useful/helpful." They are buying because, "Wow have you seen how much the price has risen? I'm getting in on this!" #Bubble

Even if it might actually be valuable I feel that almost all of the people buying are trying to make a quick buck creating the inflated price. Yes it may have some legitimate value but not $7,000 worth of value (per coin). #GonnaPop

1 year ago Bitcoin was $600 per coin. Now its $7000 per coin. That is a 1167% increase in 1 year. #YouWillLoseAllYourMoney

All cryptocurrency reminds me of is the Tulip Craze from back in the day.

 

[Mineralogic]

December 4, 2017:
I pulled my profits out of LTC and such & back in fiat. I believe Bitcoin is heading into another consolidation phase around ~$11.4k.. slightly upward. You may catch it lows at $11.2k or $11.3k.. These have been breaking out faster and faster as the price has gotten higher & market demand has gotten bigger. Upward or downward, we do not know yet.

But my cryptical analysis says upward. I think it's all upward from here until CME comes on board. Without getting too deep; I believe the majority of crypto traders are setting up to give these little stock traders a nice big welcome to the wild wild West from their safe little playground aka a big correction aka cashing out profits when big arrogant money comes in aka those poor guys are going to lose a shit ton of money.

Just my opinion... because that's exactly what I plan to do. I wouldn't be surprised at steady $12k range, peaking at touching some $13k before they come on board. Around December 17th is when I predict the profits will start to be taken out; the smart ones will start pulling around the 15th.

yes time to dump those. as far as BTC you are half informed. CBOE starts this monday with this product! Do NOT wait too long to start pulling profits out of btc and btc related forks asap! CBOE to Begin Bitcoin Futures Trading December 10 - CoinDesk

CME is one of them, CBOE is up 1st!

 

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[James Fake]

A huge weakness any of these futures coming is that they are only focused on Bitcoin.. lol. Noobs. They are in such a rude awakening.. Like any of us crypto traders who's been in the game long enough don't know whale'ish signs or the classic pump & dump.

They are locked. Mobility & liquidity is something in this game that the financial world has never seen. Fiat to hedge coin to Bitcoin back to fiat to another alt in the matter of a heart beat.

Sure, they can win the shaky hands of new investors who know no better (we all can), but they aren't taking no money or coins from the seasoned whales or traders (it'll actually be quite the opposite). I really just can't wait...

With that said; my first move I am in the research phase on is: What alt coin is going to explode when profits are pulled out from under the rug on CME, etc?

I am leaning towards Bitcoin Cash going up to $2500+ by the end of the year... that and Eth and Litecoin will gain a bit more ground of independence and develop more power against obvious Bitcoin pump & dumps.

 

[B. Cole]

A huge weakness any of these futures coming is that they are only focused on Bitcoin.. lol. Noobs. They are in such a rude awakening.. Like any of us crypto traders who's been in the game long enough don't know whale'ish signs or the classic pump & dump.

They are locked. Mobility & liquidity is something in this game that the financial world has never seen. Fiat to hedge coin to Bitcoin back to fiat to another alt in the matter of a heart beat.

Sure, they can win the shaky hands of new investors who know no better (we all can), but they aren't taking no money or coins from the seasoned whales or traders (it'll actually be quite the opposite). I really just can't wait...

With that said; my first move I am in the research phase on is: What alt coin is going to explode when profits are pulled out from under the rug on CME, etc?

I am leaning towards Bitcoin Cash going up to $2500+ by the end of the year... that and Eth and Litecoin will gain a bit more ground of independence and develop more power against obvious Bitcoin pump & dumps.

Been following ripple a bit. The two mindsets of people tend to be either afraid of it altogether or FOMO. If ripple continues to be conceived as the bank friendly crypto, and banks adopt it because of its advantages over both Bitcoin and Ether, could that lock ripple in to at least go as high as Bitcoin has? Thoughts-

 

[mThree2K]

Been following ripple a bit. The two mindsets of people tend to be either afraid of it altogether or FOMO. If ripple continues to be conceived as the bank friendly crypto, and banks adopt it because of its advantages over both Bitcoin and Ether, could that lock ripple in to at least go as high as Bitcoin has? Thoughts-

My guess is that they will have to pitch ripple to banks quite hard because they always tend to develope their own stuff, although badly executed and always thinking about themselves.

Enviado desde mi Mi Note 2 mediante Tapatalk

 

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[c4n]

lol. Noobs. They are in such a rude awakening.. Like any of us crypto traders who's been in the game long enough don't know whale'ish signs or the classic pump & dump.

I wouldn't underestimate them that much. I'm sure CBOE and CME see the signs of a bubble, but they don't care; they are selling shovels and will be making money off of fees, not BTC price outcome.

Also, I wouldn't be surprised if they triggered a panic-driven correction themselves, to give their customers better buy in positions. They could have easily acquired enough BTC over time under the radar to do something like that.

 

[James Fake]

December 5th, 2017:
I made a call on my Instagram but forgot to update this thread. I am 100% in Bitcoin. I called a surge to $12.4k or more (at peak) and settling back a little above $12k last night, it didn't happen but had all the signals.

Watch for it tonight in within a few hours: LTC and ETH drop slightly in value as BTC reaches the end of the triangle. This signals LTC and ETH holders dropping their coin back into fiat to throw into BTC once it's a confirmed break out.

Now where to put my sell limit order at? I want to be optimistic and set at $12.6k but will gauge momentum on the way up. I am really eye'ing Bitcoin Cash once I get out.. it should be sitting a real low. Hopefully there's some trend reversal signals in their chart somewhere, will update later.

@Ungodly - thoughts on BCH?

 

[Tom.V]

December 5th, 2017:
I made a call on my Instagram but forgot to update this thread. I am 100% in Bitcoin. I called a surge to $12.4k or more (at peak) and settling back a little above $12k last night, it didn't happen but had all the signals.

Watch for it tonight in within a few hours: LTC and ETH drop slightly in value as BTC reaches the end of the triangle. This signals LTC and ETH holders dropping their coin back into fiat to throw into BTC once it's a confirmed break out.

Now where to put my sell limit order at? I want to be optimistic and set at $12.6k but will gauge momentum on the way up. I am really eye'ing Bitcoin Cash once I get out.. it should be sitting a real low. Hopefully there's some trend reversal signals in their chart somewhere, will update later.

@Ungodly - thoughts on BCH?

BTC is surrounded by uncertainty right now with the futures trading starting on Monday. I have some small amounts scattered around exchanges, but nothing substantial.

For BCH, I made a small buy (<3% capital) @ .1156 BTC. I think this ship has sailed for the most part.

Nowadays my main play is waiting for deep corrections with a deep net. I've been setting up staggered bids at different % levels below the market highs to get in on the volatility. Have only been doing this with BTC and it has been fairly consistent so far. Last correction I caught an easy 10% within 24 hours post-correction.

 

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[MJ DeMarco]

Its gone mainstream, the end is near.

While I hold both ETH and BTC, I unfortunately have to agree with you because I look at myself. My knowledge is still at a 3 (out of 10) so I'm definitely in the "dumb money" category. And as I preached in TMF , when dumb money shows up, it's the end of the road.

The other part of me sees the potential in the decentralization aspects, plus added resistance to big banks/corporations/gubbermint. So I'm making my bets at the latter beating the former.

 

[lewj24]

While I hold both ETH and BTC, I unfortunately have to agree with you because I look at myself. My knowledge is still at a 3 (out of 10) so I'm definitely in the "dumb money" category. And as I preached in TMF , when dumb money shows up, it's the end of the road.

The other part of me sees the potential in the decentralization aspects, plus added resistance to big banks/corporations/gubbermint. So I'm making my bets at the latter beating the former.

I have a question for you. Because I feel that people see these posts about investing in cryptos and say, "Well if MJ and Vigilante's doing it.." to justify their own investments. You guys are obviously coming from a point of success and relatively deep pockets compared to most crypto investors.

If you were in the shoes of most crypto investors (relatively broke and putting most of their money into cryptos) would you make the same decisions you are making now?

In other words if you were back in your 20's and had some money to invest, and believed what you believe now, would you make the same decisions you are making today?

 

[Tom.V]

Just gonna throw this out there because I've made some decent change off of it over the past few days, but IOTA has some pretty explosive volatility right now. Past two trades on it today were +25% and +11% (just exited this one). When will the fun end?

 

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[JamesDB]

I have a question for you. Because I feel that people see these posts about investing in cryptos and say, "Well if MJ and Vigilante's doing it.." to justify their own investments. You guys are obviously coming from a point of success and relatively deep pockets compared to most crypto investors.

If you were in the shoes of most crypto investors (relatively broke and putting most of their money into cryptos....)

I would be surprised to hear if one of them invested even more than 1% of their assets into that (at least at prices above 5k), don't know the numbers but guess its just play money to see what its all about.

"Investor" + broke + crypto's = dream of getting rich fast, there ain't no shortcuts, sorry mate. The guys who make the big money were either in before 2013 or are selling shovels.

 

[Ahmet1054]

The best way to learn? Create a Coinbase account & buy $20-30 worth of Btc. No better way of learning than actually doing. Then use Google every single time you have a question pop up in your head while doing.

Agreed 100%

 

[Ahmet1054]

Hi everyone, just landed on the thread.
If some people want to rack up some knowledge about investment before buying any crypto, if you have doubts about investment, you should read:
_One Up one Wall Street by Peter Lynch
_The Intelligent Investor by Ben Graham (Warren Buffett's former mentor and BFF)

--> Buy and hodl is the better strategy about crypto currencies, you SHOULDN'T buy when it's down and sell when up... too risky
--> Settle a strategy and stick to the plan on a long run (say 3 years)
--> dollar cost averaging seem to be a safe path: invest the same amount of money onto crypto every month

 

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[PedroG]

While I hold both ETH and BTC, I unfortunately have to agree with you because I look at myself. My knowledge is still at a 3 (out of 10) so I'm definitely in the "dumb money" category. And as I preached in TMF , when dumb money shows up, it's the end of the road.

The other part of me sees the potential in the decentralization aspects, plus added resistance to big banks/corporations/gubbermint. So I'm making my bets at the latter beating the former.

Yeah I see this too. I'm also extremely late to this. I never bothered to really look into digital currencies until like two weeks ago.

Last week a friend of mine texted me, "have you heard of Bitcoin?" As soon as I got that text, I told my wife, "The bitcoin crash is coming." As soon as people who normally don't invest in anything start talking about investing in something, it's over.

There was an MLM ponzi scheme going on a couple of years ago (TelexFREE) that a family member was trying to get us involved with LOL...He claimed he knew it was a ponzi scheme but he thought it would go on for a little while longer, so he "invested" a ton of money.

Now this person is not the type of person to join these things. I told my wife that the fact that HE joined it, meant the end was near. There were not gonna be enough new people to keep the ponzi scheme going.

Sure enough, Within 2 weeks of this person joining, the MLM's website had a message up that they were done, and they were being investigated by the FBI.

@James Fend What're your thoughts on XRP. I did some research and it looks like they are taking another route by getting banks involved and on the same page. They are working with some really big banks right now and adding more to their portfolio. I see this as a potential that XRP could be in a buy and hold spot right now.

What do you think?

This is what I'm really interested in right now, XRP. It seems to me, this has a real use case. It solves a real problem, and it solves them for banks so rather than resistance from them, banks are gonna want to push this.

I'm waiting for my bitstamp account to be verified so I can buy some XRP and ETH. I'm staying the hell away from bitcoin right now.

 

[MJ DeMarco]

I have a question for you. Because I feel that people see these posts about investing in cryptos and say, "Well if MJ and Vigilante's doing it.." to justify their own investments. You guys are obviously coming from a point of success and relatively deep pockets compared to most crypto investors.

If you were in the shoes of most crypto investors (relatively broke and putting most of their money into cryptos) would you make the same decisions you are making now?

In other words if you were back in your 20's and had some money to invest, and believed what you believe now, would you make the same decisions you are making today?

Yes, because I ONLY invest what I can afford to lose. Had I been in my 20's, the investment size would have been a different number with less digits.

Anyone who puts their entire net worth into this is taking a huge risk, one I'd never take because it is something I cannot control, either directly or indirectly.

And yea, it might pay off, but it might not.

"All your eggs in one basket" can work beautifully, or end in utter disaster.