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HOT TOPIC Bitcoin / Cryptocurrency Discussion (And Predictions)

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James Fake

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November 15, 2017 Update:

If you're long on your coins; dis-regard (just hodl).

If you're a mix of long & short who wants to take advantages of possible drops (like me) that sell at what you think is a peak, then buy back after the drop (risky if the drop never happens!!) then might want to give a thought on what I'm doing.

I sold all alts & btc and back into fiat. Good chance that Bitcoin is going to have a re-trace drop around this $7300-7400 point back down to mid $6000s. If this does happen; it will take the alts like Eth and Ltc with it.

If you're really risky, you could move to Bitcoin Cash (me, I going to be more conservative) and if Bitcoin does have it's retrace drop, then one would think Bitcoin Cash would be the safe haven and it will shoot up.

And of course, no one can predict the future, so take my advice with a grain of salt!
 

TKDTyler

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I did set up a Coinbase account, and dropped some money into ETH and LTC.

The app makes it pretty easy to watch the movement 24-7. Interesting.

Looks like BTC had a nice resurgence after the pullback. Super volatile.
Open and transfer your coins to GDax. Transer process is simple since they are interconnected. Instant and free transfers between the two.

From there, if you decide to convert back to fiat or inbetween BTC/LTC/ETH, you can do limit orders rather than market sell and save on your transaction fees since its 0% maker fee vs .2% (I think) taker fee.
 
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James Fake

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Errr... took a deep look comparing BCH and BTC graphs, I am going to pull the trigger and move 100% of fiat into BCH on Kraken. :wideyed:

Going to watch things close, but if I am wrong; I can catch it and lose a bit. But losing that bit versus the massive profits off this possible swing would be :devil: + buying back into BTC low.

I think the retrace will appear as a slow steady drop over the next 3 day period.

Edit: Signals didn't look good so I moved it back to fiat with minimal loss.
 
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James Fake

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BTW; is this thread getting annoying? Meaning it's update fairly frequently and not necessarily "fastlane/entrepreneurship" related. Like, is it too micro and not macro life strategy?

One of those things:
A) Yeah, it is. Will update less & find another medium to release.

-or-

B) 5 years from now BTC is crazy high value, and we look back at this thread and smile-grin. And hopefully along the way, this thread motivated other fastlaners to jump into the game.

-or-

C) Crypto dies and a few of us look like idiots. haha
 

TKDTyler

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BTW; is this thread getting annoying? Meaning it's update fairly frequently and not necessarily "fastlane/entrepreneurship" related. Like, is it too micro and not macro life strategy?

One of those things:
A) Yeah, it is. Will update less & find another medium to release.

-or-

B) 5 years from now BTC is crazy high value, and we look back at this thread and smile-grin. And hopefully along the way, this thread motivated other fastlaners to jump into the game.

-or-

C) Crypto dies and a few of us look like idiots. haha
Process & Progress threads are never annoying my friend :cool:

Crypto is such a volatile space that non-daily has to potential to miss crazy gains.
 

MrYoshi

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BTW; is this thread getting annoying? Meaning it's update fairly frequently and not necessarily "fastlane/entrepreneurship" related. Like, is it too micro and not macro life strategy?

One of those things:
A) Yeah, it is. Will update less & find another medium to release.

-or-

B) 5 years from now BTC is crazy high value, and we look back at this thread and smile-grin. And hopefully along the way, this thread motivated other fastlaners to jump into the game.

-or-

C) Crypto dies and a few of us look like idiots. haha


I think this is an awesome thread tbh. I've already decided to study crypto for 4-5 hours a week as I have a startup I am working on full time. I don't think Bitcoin is going to actually take over as a currency, but I still think we are early in the crypto game. I also think that if you keep up with trends in this space that you will be able to buy future coins backed by awesome technology.
 

TKDTyler

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Errr... took a deep look comparing BCH and BTC graphs, I am going to pull the trigger and move 100% of fiat into BCH on Kraken. :wideyed:

Going to watch things close, but if I am wrong; I can catch it and lose a bit. But losing that bit versus the massive profits off this possible swing would be :devil: + buying back into BTC low.

I think the retrace will appear as a slow steady drop over the next 3 day period.

Edit: Signals didn't look good so I moved it back to fiat with minimal loss.
50% ETH, 50% BCH here

Not sure where the money is going to flow out of BTC to...
 

James Fake

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50% ETH, 50% BCH here

Not sure where the money is going to flow out of BTC to...

Nice...smart move! I'm digging through graphs now; when I lay all the alts + BCH over BTC, they all follow the same trends. I think I see downward triangles forming and I know they could break either way, but I stay away lol

I think I'm going to keep money as fiat until I see a somewhat clear signal of reversal against BTC or just wait to grab BTC low. Man; when it shoots up, its gonna go crazy. Square has Bitcoin payments in beta + CME going live, etc. all soon.

Majority adoption right on the brink!
 
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MJ DeMarco

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I did set up a Coinbase account, and dropped some money into ETH and LTC.

When the two old farts of the forum have bought into it, that means we're all in trouble. :blush:
 

Vigilante

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When the two old farts of the forum have bought into it, that means we're all in trouble. :blush:

Definitely reaching mainstream status which bodes well for longer term.
 

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Vigilante

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BTW; is this thread getting annoying? Meaning it's update fairly frequently and not necessarily "fastlane/entrepreneurship" related. Like, is it too micro and not macro life strategy?

One of those things:
A) Yeah, it is. Will update less & find another medium to release.

-or-

B) 5 years from now BTC is crazy high value, and we look back at this thread and smile-grin. And hopefully along the way, this thread motivated other fastlaners to jump into the game.

-or-

C) Crypto dies and a few of us look like idiots. haha

D) f*ck 'em. If they don't like it they don't have to read it. I find your updates fascinating and your intellect, insight and writing style worth checking into the forum for. I am super busy these days, but specifically dropping by here to see what you are up to. Carry on.
 
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Tom.V

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Looks like BCH had a bit of a rally about 2 hours ago after hitting bottom. The surge correlated with BTC hitting the limiter at $7,500 and backing down. While I've already profited off of BCH a lot this week, I'm not convinced the drop is complete. Still potential for a deeper dig into the red. Volume is so much lower now too. For now just holding BTC to see if the rally continues through the day.
 

TKDTyler

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Nice...smart move! I'm digging through graphs now; when I lay all the alts + BCH over BTC, they all follow the same trends. I think I see downward triangles forming and I know they could break either way, but I stay away lol

I think I'm going to keep money as fiat until I see a somewhat clear signal of reversal against BTC or just wait to grab BTC low. Man; when it shoots up, its gonna go crazy. Square has Bitcoin payments in beta + CME going live, etc. all soon.

Majority adoption right on the brink!

Looks like you made the smart move. BTC still holding up, but it failed to break 7500 twice. Double top to signal a downwards trend soon? BCH dipped -15% overnight :blank:
 
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James Fake

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Looks like you made the smart move. BTC still holding up, but it failed to break 7500 twice. Double top to signal a downwards trend soon? BCH dipped -15% overnight :blank:

Man! I think we both made the wrong move.. I did not expect so much new money to pour into Bitcoin like that. I shorted and caught some profit but I missed the majority of the wave. I got to re-collect myself and where my buy-in targets are. I still have faith that another wave from the original correction is still coming...

The sad thing is: all these new investors (are probably from US and using Coinbase).. they can't make any move on it for 6-7 days until their coins come. That means if BTC drops; they will be in a bad position if they didn't come & will probably end up panic selling. This is how I started lol. I got a bit better now though haha
 

TKDTyler

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Man! I think we both made the wrong move.. I did not expect so much new money to pour into Bitcoin like that. I shorted and caught some profit but I missed the majority of the wave. I got to re-collect myself and where my buy-in targets are. I still have faith that another wave from the original correction is still coming...

The sad thing is: all these new investors (are probably from US and using Coinbase).. they can't make any move on it for 6-7 days until their coins come. That means if BTC drops; they will be in a bad position if they didn't come & will probably end up panic selling. This is how I started lol. I got a bit better now though haha

I'm not too certain it is new money... Check out this article

The Bitfinex Dilemma: Blow up now, or try a Hail-Mary to retain in business.

The spike seems sharp and unwarranted except for the square announcement... but after reading that it screams of market manipulation.
 

James Fake

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I'm not too certain it is new money... Check out this article

The Bitfinex Dilemma: Blow up now, or try a Hail-Mary to retain in business.

The spike seems sharp and unwarranted except for the square announcement... but after reading that it screams of market manipulation.

Just read this... I heard bickering about tethers here and there these past months but this article is going to finally bring it to mass light.

I suggest others to read what @TKDTyler posted! Even if you don't get the minute-details; grab the main points.

I believe him. Oddly; if you try to sign up for Bitfinex right now and you are based in the US, you will be denied as they don't take US users anymore.

With that said; I hope this adds fuel to the fire that this new price is definitely headed to a correction. I personally feel it should be in the high $6000s. Definitely not above $7k until something major like Square brings their Bitcoin payments out of beta. Without any further manipulation; the market should and will correct itself naturally.. I hope lol
 

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Just read this... I heard bickering about tethers here and there these past months but this article is going to finally bring it to mass light.

I suggest others to read what @TKDTyler posted! Even if you don't get the minute-details; grab the main points.

I believe him. Oddly; if you try to sign up for Bitfinex right now and you are based in the US, you will be denied as they don't take US users anymore.

With that said; I hope this adds fuel to the fire that this new price is definitely headed to a correction. I personally feel it should be in the high $6000s. Definitely not above $7k until something major like Square brings their Bitcoin payments out of beta. Without any further manipulation; the market should and will correct itself naturally.. I hope lol

What are your thoughts on Litecoin?
 

Tom.V

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What are your thoughts on Litecoin?
I like to call Litecoin Hedgecoin It has held its value very well in times of uncertainty over the past few months. If BTC starts blowing out, and another vehicle doesn't present itself, LTC is next in line.
 

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James Fake

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What are your thoughts on Litecoin?

I had to look through all my old posts in this thread.. so far; I've been about 70/30 on good advice. The other 30% was either overly-optimistic, too conservative, or hasn't happened yet lol. I do have one bad one I gave out to @Max Gambit about BCH before it got a huge manipulated spike to cash in on.. but I don't think anybody really saw that coming tbh.

Anyways; with all that said.. I agree with @Ungodly - it's a safe & slow coin that doesn't get affected much by anything else going on. That is a good thing, and also a bad thing. Hence why it hasn't gotten it's "outbreak day"....

My only small counter-argument I'd have with @Ungodly is that with Crypto trading, the main hedge is back into fiat (dollars) lol (since its so liquid unlike other investment vehicles). I think that's what most whales were & are doing during this past week; either BTC or fiat. It gave them leverage to profit on BTC runs, instead of having to first sell their alt, then buy BTC; they could pull the trigger immediately.

They didn't pump & dump any alt from what I've seen. Frustrating for any of those looking to cash in on "other places Bitcoin's money goes to when BTC goes down". Both big alts ETH and LTC had no inverse and only followed exactly what BTC did. BTC down, everybody down.

When it blows up and crashes, that's the time to swoop in and buy. Always buy when others are panicking and panic when others are buying. That logic has done well for me in the crypto world thus far.

"Buy when there's blood in the streets" - W. Buffet
 
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Tom.V

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My only counter-argument I'd have with @Ungodly is that with Crypto trading, the other huge 'hedge currency' is back into fiat (dollars) lol. I think that's what most whales were & are doing during this past week; either BTC or fiat. They didn't pump & dump any alt from what I've seen. Frustrating for any of those looking to cash in on "other places Bitcoin's money goes to when BTC goes down". Both big alts ETH and LTC had no inverse and only followed exactly what BTC did. BTC down, everybody down.
Except in the case of last week, BCH was the big boom. Totally situation dependent, but in that particular case, almost all pullout from BTC went into BCH. Once the power struggle over the "flippening" was over, BTC soared.
 

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Is it possible to derive from first principles what the market cap of a cryptocurrency should be? At least with a public stock you can look at earnings reports and guesstimate a reasonable P/E ratio and land within an order of magnitude.
 

James Fake

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Is it possible to derive from first principles what the market cap of a cryptocurrency should be? At least with a public stock you can look at earnings reports and guesstimate a reasonable P/E ratio and land within an order of magnitude.

This is the wild wild West right now... manipulation, pump & dumps, insider information, conspiracy, any and everything happens. But it's fun lol

Considering the land of stocks has rules & regulations; most "wallstreet" guys I see don't do any better than a seasoned crypto trader. It's a different ball game with different rules.. Sure, chart trends and patterns are sometimes similar and work more times than not with market news, but many times, no one has any idea what is really going on or going to happen.

About the one sure rule we can say is this: Bitcoin continues to go up. It may look ugly on the way up, but sure enough; it always goes up.
 
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James Fake

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November 21, 2017 Update:

I knew BTC was going to have one more rally before it started any market correction. (and it's my fault for not showing my chart & analysis but I have finally finished my blog so I can start sharing analysis instead of just verbally saying it lol).

What all that said... I'm sniffing around... and things are smelling a bit fishy in the Bitcoin price. Any one else smell it?
 

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About the one sure rule we can say is this: Bitcoin continues to go up. It may look ugly on the way up, but sure enough; it always goes up.
It's people like you who create bubbles.
 
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James Fake

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What is the thought on the bitcoin gold BTG, seems to be steady and rising?

Seems to be. I'm not sold on it, so if you want to do a short, it may be worth it. I think in the long-run; it will be thrown in a pile as 1 of 20 other "bitcoin forks" that will eventually just keep saturating itself out the picture.
 

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