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HOT TOPIC Bitcoin / Cryptocurrency Discussion (And Predictions)

GPM

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Does anyone here have any experience with the new Ledger Nano X? It looks to solve a lot of the issues that the Nano S has, but I am not 100% on sure about using bluetooth rather than a wired connection.
 

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msufan

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Looks like my theory is about to be put to the test, remember I said it would start crashing down between $7-8000.

If I'm right, by this time next month it'll be about $5k
Welp... you were wrong, for now at least. BTC soaring up to $10,700+ at the moment. I was wrong too. Got out at $9500ish.

Curious what people think about all assets being so high priced right now... gold soaring, Bitcoin soaring, stocks up and higher than historical P/E ratios would dictate, housing up, etc. What's going on here?
 

TinyTim

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https://www.reddit.com/r/CryptoCurrency/comments/c51h41 View: https://www.reddit.com/r/CryptoCurrency/comments/c51h41/vechain_is_providing_the_blockchain_technology/


Vechain (a cryptocurrency) is providing the blockchain technology for Walmart x PWC in China to track food safety.

On one side you have people who think cryptoassets solve every solution under the sun, on the other side you have people who think it's cool to ignorantly bash cryptoassets, while Fortune 500 companies use them.

Edit - here's a transaction: https://walmart-trace.vetoolchain.cn/walmart/p/10000919067888862973
 
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Roli

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Welp... you were wrong, for now at least. BTC soaring up to $10,700+ at the moment. I was wrong too. Got out at $9500ish.

Curious what people think about all assets being so high priced right now... gold soaring, Bitcoin soaring, stocks up and higher than historical P/E ratios would dictate, housing up, etc. What's going on here?
It appears so, I'm glad to be wrong...
 

JamesQB8

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13.3k Now

I got out at the end of 2017 with only like $200 in now
 

MJ DeMarco

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Bitcoin up 20% today? Did I miss something? Gold is also up, something smells fishy, is the financial apocalypse upon us?
 

msufan

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I have done this twice now with Bitcoin: hold it through long, slow climbs, and then sell right before it goes parabolic. It's like I sell right when the market goes irrational. Later, it crashes down, but what's the line again: “The market can stay irrational longer than you can stay solvent.”

Well, in my case I don't go insolvent by betting against the market, but I just end up missing out on potential massive gains. I invested $6500 in Bitcoin (actually I won it through gaming) and it smoothly increased to $10500 in a few months. Then I sold. But if I had waited another week, it would have been worth $15,000. Unreal.
 
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Ilya C

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I don't know if this is the proper place to discuss this, but I wonder what strategies do those miners try to implement. One extreme would be trying to cash out each time interval. The other — reinvest max to buy more miners. The miners' prices usually follow xbtusd, so their price in usd wouldn't really matter if you reinvest 100%. But one second it can all go down to zero :)

The safe strategy for me back in the day was to invest everything I was ready to lose completely. That way I won't feel butthurt when it touches the Moon and when it descends to the ground. Path of least regret I guess.

Yet the trading world, as far as I know, tends to go with extremes instead. What do you think?
 
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James Fend

James Fend

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Bitcoin up 20% today? Did I miss something? Gold is also up, something smells fishy, is the financial apocalypse upon us?
Very fishy. Likely the smart whales are accumulating assets to hedge against an inevitable recession. Stocks feeling fairly toppy as far as sentiment fundamentals; likely in a distribution phase the rest of the year. Bitcoin and gold likely to pull back a lot after Stocks don't panic sell off as some are seeing (or happening fast enough); however, it would be fairly safe to say that Bitcoin is back in the early early stages of a bull market. Regardless of recession happening, I see accumulating and holding Bitcoin & Gold (and Gas) over the next two years will have some big pay offs.

I do see Bitcoin having another time frame of low volatility 'ranging' whenever it does sell off. Could be a few months to EOY from now (although I suspect the sell off around the time Feds lower rates which is a guaranteed 'when' and not 'if' at this point). Either that; or I am totally in the 'Disbelief' emotion (which could totally be it). But I just don't see it with the fundamentals of everything else tying together.

On side note: I am a bit sad from bad timing. I am about a year late. I should have had a sum of money to throw into long Bitcoin holds. But that sum is not here yet, and likely missed the very 'bottom' price. Oh well.. The wiser investor/trader me also knows there will ALWAYS be more trade opportunities, so not too pressed! =)
 
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James Fend

James Fend

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Well, in my case I don't go insolvent by betting against the market, but I just end up missing out on potential massive gains. I invested $6500 in Bitcoin (actually I won it through gaming) and it smoothly increased to $10500 in a few months. Then I sold. But if I had waited another week, it would have been worth $15,000. Unreal.
This is an emotion to self-master when it comes to trading/investing. A realized profit is ALWAYS ALWAYS the best outcome, no matter how much. That 'regret' you are feeling is actually a masked version of 'greed'. From the numerous times I ever exited a position at just the right time and 'top', looking back, I just feel lucky. Pure luck. When I exit positions early, I pat myself on the back cause I overcame Greed.

Living here in Vegas, I would say most people go up in green at card tables.. however 90% of those people lose all their gains and initial money because they didn't know when to leave the table.
 

MJ DeMarco

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Likely the smart whales are accumulating assets to hedge against an inevitable recession.
Yes, the long plummet down was the squeeze to get out all the neckbeards clearing the way for the corporate oligarchs to take control.
 

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James Fend

James Fend

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I also want to add this:

1) From a monthly candle big picture view, this latest rally could be an EXTREMELY BEAR'ISH movement, unless it can take out that $20k high and clear it.. this could just be apart of a typical TOP pattern. Meaning, after an asset peaks ($20k), it will eventually go back to re-test the prices where fast sell-offs happened. This 'second' pump or peak, IF it does not hold, is actually just the beginning of a bear market. In this case, if this were to happen... Bitcoin and Crypto would hit the shits entirely over the next two years. Volume confirmation is EVERYTHING here, and so far I haven't seen a convincing one.

2) CNBC and essentially every other mainstream media is talking too much about Bitcoin. If there's one thing I know, it's that continuation of it's trend usually don't last long afterwards to that much exposure.

3) I think Facebook isn't going to launch Libra as freely as one would think. I think government is going to add a big old multi-year hurdle to Facebook ever launching Libra.
 

msufan

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Bitcoin just dropped from 13,800 to 12,500 in moments. Pass the popcorn.
 

msufan

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Correction: 13,800 to 11,700 back to 12,800 in minutes. This is insane.
 

JamesQB8

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Correction: 13,800 to 11,700 back to 12,800 in minutes. This is insane.
My friend made 500k from a 5k investment from 2016-2018 with ICOs then shorting btc when it crashed.

Interesting just watching the volatility of the market as well
So I created this TradingView chart to illustrate my gut feeling. I could be completely wrong, but this is what I am going with until proven otherwise lol.

View attachment 25360

$2,800 Bitcoin Inside BIG BEAR. Recessions Make Billionaires. for BITFINEX:BTCUSD by dragon
Lol I enjoyed reading that.

I might play around with 1k for fun and see what happens over the next few years
 
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James Fend

James Fend

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My friend made 500k from a 5k investment from 2016-2018 with ICOs then shorting btc when it crashed.

Interesting just watching the volatility of the market as well

Lol I enjoyed reading that.

I might play around with 1k for fun and see what happens over the next few years
$5k to $500k, nice! Oh, and my chart is weekly candles so my scribble trendline spans across like 2-4 years!
 

Bearcorp

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I might play around with 1k for fun and see what happens over the next few years
I've done that over the last 6 months or so just to have a tiny amount of skin in the game, and it gives me a reason to keep following all the news and information, fun seeing my account was over 100% up at one point a few hours ago!
 

Insidious

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Question for all you BTC whales... how do you cash out six figures?

Asking because the only account I had setup during the run to $20k was Coinbase, and they have ridiculously low daily and weekly dollar limit.

There are plenty of bullion dealers that will let me buy gold, but then I need to sell the gold to go to cash.

(Logged into Coinbase, and it seems they've eliminated the limits that were in place during the last run. But I'd still like to hear about any other options you've found, especially those with lower fees. =)
 
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enri

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But I'd still like to hear about any other options you've found, especially those with lower fees.
You’re using Coinbase, not Coinbase Pro?
If so, you can log into pro.coinbase.com with coinbase user/pass, transfer your funds there (free), and then withdraw. In pro version all fees should be lower.
 

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James Fend

James Fend

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Question for all you BTC whales... how do you cash out six figures?
Not a whale, but I've done some high five figure withdrawls on Coinbase. Usually limit sold back into USD via their Gdax (Pro Coinbase now) and easy transfer to bank. I had to do two separate requests (back then) to raise daily withdrawl limits to current level. If you're trying to cash out $1,000,000; just do it over ten days lol. Any more than that; likely have to submit request for account review to Coinbase team, but you'll get it especially if they see the big amounts in your account.
 
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James Fend

James Fend

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Any specific sites recommended for paper trading crypto?
I personally don't have any. I browse TradingView ideas every once in a while and will drop by in various crypto chats to check on trader sentiment. That's about all I do.
 

SchenkFinancial

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When it comes to Bitcoin, your investment horizon decides pretty much everything. I consider Bitcoin quite favorable within the next 10 years, while it is rather difficult to determine whether it is cheap or expensive within this year.

In view of the fact that Bitcoin has always the same production rate, you can easily calculate the market capitalization. In the past few years, you could calculate the fair value of Bitcoin with an accuracy of 95 % using the stock to value ratio. This ratio also clearly showed that during the hype of 2017 Bitcoin was overvalued and that Bitcoin since summer 2018 has been undervalued.

It is important to understand that the stock to value ratio has nothing to do with producer price. Bitcoin does not increase in value due to increased Bitcoin mining. The price has nothing to do with the rate of mining; quite the contrary, the higher the price of Bitcoin, the higher the rate of Bitcoin mining since it pays off more in this case.

This is the difference between gold and Bitcoin. As soon as the price of gold increases, the production rate of gold increases too. Since the production rate of gold rises simultaneously, the supply and demand ratio of gold is gradually brought into equilibrium. This, however, does not apply to Bitcoin.
 
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James Fend

James Fend

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Anyone else seeing a bullish pattern emerging on the daily BTCUSD chart? Could it be an interesting end of the year?

@James Fend
Funny you mention that; I've been back and forth scouring crypto chats to pick up on sentiment & looking at Eth's chart all day. The first time I've taken a serious look into going into a coin.

Imo; it may have a nice bull'ish upward trend with a couple surges here or there over the next 6 months.

If what I think I'm seeing is true; there's a lot of hidden buying/accumulating in the past year supported in evidence by sneaky amounts of buy volume here and there.

As for BTC; I am not sure.. My prediction from awhile ago has it going DOWN lol. Which.. if it does, usually spells bad news for Alts generally as a low tide brings all boats down. Which directly contradicts my feelings on Eth.. which means.. essentially what I am saying is that.. there "may" be one of those semi-rare situations where Alts fly while Btc goes down (essentially driven by people merely flipping Btc back to Alts, and not USD into Alts although that would be a stage of it later on).

And that brings me back to square one... My sneaking suspicion is that semi-rare thing happens over the next 6 months. If I go into Eth; I'm running nice stop-losses in case, but I think the upside makes the risk-reward ratio lean my favor.
 
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paulmp

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*sigh*

I have a dead 4 drive raid system (lightning strike, killed all 4 drives)... on that raid is my very secure wallet with at *least* 250 bitcoin in it... I bought well over 2500 bitcoin in 2010, bought a bunch of useless stuff with it. I now have a *very* expensive paper weight.

Before anyone asks, yes I've tried everything to do data recovery on it, recovered about 13 years worth of photos (my life's work between 2000 and 2013), there is a section that is completely corrupted. I'm an ex-sysadmin / network engineer, I know what I am doing when it comes to data recovery, I also had a friend who has a business specialising in data recovery look over it, he said I've done everything he would have tried and was surprised I got as much as I did.

I'm collecting "STEEM" "ETH" and a couple of other tokens, avoiding BTC for now, too volatile and my pockets are pretty empty at the moment.
 
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James Fend

James Fend

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I have a dead 4 drive raid system (lightning strike, killed all 4 drives)... on that raid is my very secure wallet with at *least* 250 bitcoin in it... I bought well over 2500 bitcoin in 2010, bought a bunch of useless stuff with it. I now have a *very* expensive paper weight.
Ah man... very sorry to hear that. Insane. Crazy how these stories are a lot more common than one would realize which only questions what is the 'real' supply of Bitcoin?

I would sell it 'as is' and tell them you tried everything.. I'm sure someone will think they're smarter than you and pay a nice sum to give it a go lol.
 

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