Bitcoin / Cryptocurrency Discussion (And Predictions)

[LifeTransformer]

John McCafee is king of the pump currently.

Making tweets about utter shitcoins like Electroneum, Verge, and now ReddCoin.

On a side note, I think his ICO looks pretty interesting, but he's lost some credibility with this Twitter charade.

 

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[ZF Lee]

Yup, my guess is there will be a "purge" somewhere down the road.

In the dot-com boom, everyone was a day trader and making millions. This strikes me as the same because you don't need much skill to make money. Everyone is making money by just being "in the market" much like back in 1999.

Then the purge came.

Some of those guys are still trading, but 99% of them aren't.

That's a purge.

And if you're still making money AFTER the purge, you're something special.

I'm wondering how bad this purge will be, and the extend the damage might spread to.
I can only think of the finance industry, trading practices and maybe internet security.

I somehow have a bad feeling that governments and the general public might react more violently to this purge compared with the other past bursts....I'm not sure how to depict it, but violent's the word.

 

[mThree2K]

I'm wondering how bad this purge will be, and the extend the damage might spread to.
I can only think of the finance industry, trading practices and maybe internet security.

I somehow have a bad feeling that governments and the general public might react more violently to this purge compared with the other past bursts....I'm not sure how to depict it, but violent's the word.

I disagree, the purge won't be that devastating because the Crypto Market is only a tiny little piece of the financial world.

The derivatives market is the monster that could wipeout everything.

Enviado desde mi Mi Note 2 mediante Tapatalk

 

[Daniel...D]

To me it is a runaway panic buying market. I hate to be negative, as a matter of fact I feel like a flat earth peasant. But I truly believe that BitCoin will go to 0. I don't know when or how high it will go before that, and I certainly don't have the courage to short it, but it feels like a bubble in every way to me. There are signs, people quitting unrelated jobs to trade bitcoin, small tweaks to justify10-20 times price increases, a believe that a pullback will be small and contained, and ( in my mind anyways) a complete divorcing from intrinsic value. We had friends in ostriches and laugh all you want (again I feel slightly stupid for posting this) but I could replace the word Bitcoin for ostrich in this thread and it would have sounded exactly like them in the early 90's.

The great technician Tom Demark says markets don't top in bubbles etc.because mass selling or profitaking, they top because all the buyers have bought and there is no one left to buy. I really think that day is coming for Bitcoin.

I have the same thoughts, I don't understand all this noise around bitcoin

 

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[James Fake]

My Predictions This Week:
Riding Bitcoin to the 27th where I'm thinking $20k will be reached. Then hop onto LTC's train if not already passed. Then XRP or XVG depending on news.

 

[James Fake]

Just curious why everyone seems so interested in XVG these days? Is it simply because Mcafee pushed it?

Honestly; I'm not sure. I do know it has some really, really strong support. I use a chat group that is full of 4,000+ new investors to get a gauge on new investor sentiments. They are very pro-Verge. I can see it having tons of growth left.

Me; I'm not long on anything, so there's this thing called the Wraith feature that is due out soon. I am grabbing my profits and dipping onto the next rally.

 

[baltais]

I put my two cents into a YouTube video about the benefits of cryptocurrencies over fiat currencies (no price predictions though).

And no worries - there is no sales pitch in the video.

Made just for enjoyment.

 

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[NewManRising]

What mobile apps are you folks using to do trades during the day?? I ask because there are thieves out there spoofing apps. I realize I need to be able to make transactions during the day since this market moves quick.

 

[Stevio]

What mobile apps are you folks using to do trades during the day?? I ask because there are thieves out there spoofing apps. I realize I need to be able to make transactions during the day since this market moves quick.

Binance app.

 

[James Fake]

I goof'ed counting the number of days of correction.. it's 7 days and not 5. Therefore; the $20k won't be hit until the Dec 31st. Which means until now to the 29th-30th.. Bitcoin will be doing an ugly, dippy pattern with a slight upward trend.

I will likely play in alts for the next 24-36 hours. A few that are catching my eye with primed ready for break out soon: Dash and maybe XVG.

 

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[million$$$smile]

I have been researching Ambrosus AMB for awhile. Like the concept and they seem to especially have a strong team. Finally took out position yesterday. Waited a day too long, but I feel this still has plenty of upside. Will be buying more on dips for long term hold.

Do your own due diligence...

 

[mThree2K]

Still trying to figure out this XVG. I see very little that's valuable or interesting in this company.

He might be bullish on XVG because they are about to release a gamechanging protocol called Wraith which makes transactions 100% anonymous.

Devs said before 2017 ends.

Enviado desde mi Mi Note 2 mediante Tapatalk

 

[biggeemac]

Whats up with BTC ?

 

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[LifeTransformer]

Whats up with BTC ?

High transaction fees.
Not really decentralized.
Not P2P as intended.
Not exactly private.

Oh, sorry! You meant the price didn't you? It's still correcting. :-D

 

[biggeemac]

High transaction fees.
Not really decentralized.
Not P2P as intended.
Not exactly private.

Oh, sorry! You meant the price didn't you? It's still correcting. :-D

Yeah....lol. Lot of butthurt out there tonight. Mine got skinned but hardly butthurt.

 

[Guest3722A]

Whats up with BTC ?

Possible head-n-shoulders pattern developing. Watching for the 13000ish level, or to be more precise, 12750ish MAYBE. The charting I'm using is not that good. It all depends on the closing prices. Especially later on today at 7pm est. Why 7pm? Most likely because it's following suit to how several futures contracts operate. But I could be wrong and that's just how this particular charting website does their periods. If someone knows of a good charting service for these, please let me know.

If we get a close around 15390 or greater (at 7pm est) it's still in an uptrend. If not, a change in trend may be occurring. If a trend change is occurring it could just be sideways as it works its way up to 20000. This is typical. However, if the head n shoulders pattern completes, and closes at that 13000ish level, this thing could begin to trend down. Am I hedging by giving 3 possible scenarios? Well, I look at it like these are the things I'd be looking for which would help me make further decisions.

I absolutely am not knowledgeable on crypto or alt or know if I'm even discussing it the correct way but I'm thinking technical analysis, which is a hobby of mine, most likely will be universal. But who knows at this point.

 

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[mThree2K]

What do you mean "100% anonymous?" I thought that the transactions were just run over TOR, which means that the IP addresses for a transaction are obfuscated, but does nothing to anonymize Verge wallets? I could run BTC transactions over TOR as well -- that wouldn't make them anonymous.

Also, Verge has a rich list -- is that going away with the new protocol? If not, then it's clearly not 100% anonymous.

I'd love some clarification on these things... If it really is 100% anonymous, that's a game changer, but given that the code is fork of DOGE, I'm skeptical.

I got the news from here:

Verge & the Wraith Protocol

TL/DR:

This infographic clarifies it a little bit:

This is as always DEV talk, it could work or it couldn't but if they deliver properly this will be huge.

Enviado desde mi Mi Note 2 mediante Tapatalk

 

[James Fake]

Not spreading FUD here, but Bitcoin's recovery is altered. The only difference from the other 3 big corrections is more hands, more "different hands", and futures.

No relevance can be found to this same odd behavior... it's altered for sure. Whether that's artificially (by the outside) or it's just following along the roadmap to the B word.

2018 = Focus Shifts to Year of the Alts.
2019 = Year of the Alts to prove themselves.
2019 = Alts do not deliver simply because the world is not ready for blockchain adoption quite yet (mostly technology wise). Alt's begin to go down from their highly inflated prices built on speculation they will be a big game changer. Big game changes never happen.

Companies not delivering real world application in meaningful & profitable ways.. never delivering on their huge promises, goals, and outlooks.

Sound familiar?

In all actuality; the world-changing blockchain tech will come after (the B word).. years after... but when it does, it will be tremendous. The world just simply isn't ready to support it yet (in our minds, yes) but our tech, no. It's like trying to watch Youtube on dial up speeds lol.

 

[James Fake]

If Bitcoin doesn't break $15k here, we are due for a big drop. Where the drop ends; nobody knows. @TKDTyler says $13k's.. I say $10.5k at the absolute bottom wick.

Either way; the smart play (If you are swing or day trading, if you're holding long, just dis-regard) but to hedge yourself and all your alt coin positions so that you can go back into the safety of fiat if that last shoulder in the head & shoulders forms. BTCUSD 6hr candles.

Then when it's blood everywhere... buy up. =)

 

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[Thetaker24]

just buy many as you can, before the pump shows up.

 

[theag]

I have to admit I completely managed to miss/ignore all the hype. Until 2 days ago I didn't even know about the meteoric rise of the last months.

Sounds pretty exciting though, so I'm kicking myself a bit for not keeping my eyes open. Well, back to boring ecommerce..

 

[mThree2K]

That's where I disagree. Basically, Wraith (as I understand it) is just a private ledger where IP addresses are obfuscated, so transactions can't be tracked.

But, that's not only not revolutionary, it's also not very interesting from a privacy standpoint.

I could run BTC transactions over TOR/I2P and obfuscate IP addresses -- basically making the network "private." That's really all Verge is doing. In fact, I think they are using Tor/I2P as well, so it's actually the exact same thing, just built into the protocol (which isn't a game changer, in my opinion).

Second, Verge does nothing to anonymize wallets, from what I can tell. So, at the application layer, there is no privacy. I can still inspect a wallet and determine balances, right?

Third, Verge has a rich list -- is that going away with the new protocol? If not, then it's clearly not 100% anonymous. Is the rich list going away? From what I've heard, it's not.

Finally, Verge is a fork of DOGE, which means I'm skeptical that there is really anything new or interesting here.

Personally, I think a lot of non-technical people have been sucked into believing there is something interesting here, but for those of us who actually understand the technology, I'm fairly certain you're being duped. But, John Mcafee got his big pump, so I'm sure he's happy...sadly it was at the rest of your expense.

If I'm wrong about any of my technical assertions above, feel free to correct me...

The thing is right now there is no other coin offering such a privacy and this is how they are selling this, correct me if I'm wrong about this.

Keep in mind that most of the people investing right now don't care about the tech, they just care about earning a quick buck and this is why such a news could lead to an upward jump in valuation.

Enviado desde mi Mi Note 2 mediante Tapatalk

 

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[mguerra]

I goof'ed counting the number of days of correction.. it's 7 days and not 5. Therefore; the $20k won't be hit until the Dec 31st. Which means until now to the 29th-30th.. Bitcoin will be doing an ugly, dippy pattern with a slight upward trend.

I will likely play in alts for the next 24-36 hours. A few that are catching my eye with primed ready for break out soon: Dash and maybe XVG.

Thanks brother. What are your predictions on those two?

(I bought some XVG when it was 0.10 and I'm thinking about buying more now...)

And you said you expect the absolute bottom on BTC correction is $10.5k. Do you have a guess when this correction will end and start to rise again?

 

[Yoda]

Continuing to peel profits and re-invest, as I said I would. What I picked up earlier this week:

• Monero
• DNT
• Iota
• XRP
• LEND
• REQ
• TNB
• DOGE

Sold off some more profits today, and purchased a big chunk of ICX.

I'm currently looking at breaking 7x my investment in just a few percentage points of gain, and it's been but a few weeks. Got to love volatility.

Just keeping myself accountable to my "system" still, carry on. Fun times.

EDIT: I did have my first scare, when a transaction failed from HitBTC back to Binance.

 

[MrYoshi]

Right now I have the following coins that I'm putting money into. I am thinking about putting a ***ton into Quantstamp, VeChain, and BlockCat.

• ADA - Looking to put more into this, but missed the big dips
• Bread - Might sell and put more into Quantstamp
• VeChain - Long-term hold
• Wabi - Long-term hold
• Quantstamp - Wanting to put a ton more into this
• BlockCAT - Waiting for them to be listed on Binance and hopefully make a dash-type explosion. They have a low supply and a great team, but they have some competition.

 

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[BradD]

Curious for everyone’s take on network fees. Been playing around testing transfers between exchanges and seeing fees as high as 12-13% of the tx amt (apparently it’s dynamic based on network volume).. of course, they list it as “x.xxxx” of the coin in many cases, causing you to have to do some work to figure it out.

FAQs seem to indicate in most cases this is a fee paid to miners, not pulled in as a fee profit by the exchange.

What are you guys seeing- any concerns around these costs? Do you optimize your exchange preferences based on lowering fees?

 

[NewManRising]

Curious for everyone’s take on network fees. Been playing around testing transfers between exchanges and seeing fees as high as 12-13% of the tx amt (apparently it’s dynamic based on network volume).. of course, they list it as “x.xxxx” of the coin in many cases, causing you to have to do some work to figure it out.

FAQs seem to indicate in most cases this is a fee paid to miners, not pulled in as a fee profit by the exchange.

What are you guys seeing- any concerns around these costs? Do you optimize your exchange preferences based on lowering fees?

I bought some Binance coin and it cuts your fees in half. I purchase most my coins on Binance now. Binance has the lowest fees to begin with and with the Binance coin it's even better. Also, I buy Ethereum and transfer using that. Once I send it to the exchange I want I buy BTC with the Ethereum. BTC is more liquid and people pump more money with it. It is always better to buy coins with BTC. But it is not good to transfer with BTC because of high fees. With the price fluctuations of BTC and ETH I am not sure how much I lose or gain but I feel I am saving this way.

 

[James Fake]

Happy New Years guys...

XVG not so great... loss on that.

I am inside TRX now.. I think it's a replica of Litecoin $80. Hoping to 40%+ gains off of it.

 

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[LifeTransformer]

‘Privacy Coin’ Verge is Allegedly Leaking Users’ IP Addresses - Bitcoin News

 

[Kingmaker]

I bought some Binance coin and it cuts your fees in half. I purchase most my coins on Binance now. Binance has the lowest fees to begin with and with the Binance coin it's even better.

How does that work exactly? You hold BNB on Binance and your fees are paid out of that, at 50% discount?