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Bitcoin / Cryptocurrency Discussion (And Predictions)

Ilya C

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Bitcoin just dropped from 13,800 to 12,500 in moments. Pass the popcorn.
Funny thing is that the fibo levels from the last big move still work:
yBasBVl7


For example, this drop (around 15% in 30m) stopped at 0.5 level:
kLYSYQU0
 
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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 Fake

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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.
 

James Fake

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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 Fake

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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.
 

c4n

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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
 

Attachments

  • btc-daily.png
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James Fake

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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.
 

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 Fake

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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.
 

James Fake

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Ethereum Looking Strong for COINBASE:ETHUSD by dragon

I got into ETH last night @ $198'ish, things to me were just pointing way too strong to pass up a nice long position trade.

Here's copy from that TradingView idea I just posted:

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

I am mostly fundamentals, but one is mostly going by some nice technicals developing.

1. Selling is exhausted. Lower volume trend along with downward trend.

2. Small bug going around the crypto community of "Ethereum is more than an Alt and should not be considered one, yet it's below Bitcoin" which essentially means Ethereum deserves it's respects. The bug is very small now but I believe this belief will only grow stronger and more popular, eventually branching out away from the crypto community into retail traders and early majority in public.

3. Compared to other major Alts, ETH is in a completely different stage. ETH appears to be already accumulated (with hidden buy volumes all over the past year) and ready to print higher lows & begin a slow upward trend; whereas the other Alts all appear to be just now entering into the accumulation stage.

4. Volume & volatility overall is very low, with Selling exhausted, any momentum in Buys will move the needle upward easily.

5. Bounce off 50MA (blue line) from the WEEKLY candles. Appears very strong bounce with conviction thus far, might retest but if it stays above it, looks great for a nice upward trend over the next 6 months at least.

6. Bounce off 40 RSI has always been a good technical for me.
 

Jeff Noel

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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.

Perhaps at this point you could send it to a data recovery facility. The physical process of opening the drive and scavenging data off the drive's discs is quite expensive (about $1000), but it's far less than what you earn back!
 
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msufan

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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.

If you are 100% giving up on being able to get the BTC back, this is actually a brilliant idea.
 

paulmp

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If you are 100% giving up on being able to get the BTC back, this is actually a brilliant idea.

Except anyone smart enough to recover the drive would also be able to recover my other private data and photography work.. which strangely enough, the bitcoin would not be enough for me to part with the entire library of work. We're talking well over 1 million photos, many projects and then there are the weddings I photographed, some of which were with some Australian "A list" celebrities who I have privacy agreements with... they are not people I want to get sued by because their private moments ended up in a the hands of someone on ebay.
 

TinyTim

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2. Small bug going around the crypto community of "Ethereum is more than an Alt and should not be considered one, yet it's below Bitcoin" which essentially means Ethereum deserves it's respects. The bug is very small now but I believe this belief will only grow stronger and more popular, eventually branching out away from the crypto community into retail traders and early majority in public.

The "Ethereum is more than an Alt and should not be considered one, yet it's below Bitcoin" bug is what led to the mammoth 2017 rally for Eth. In fact, it was this exact sentiment that drew me to the crypto markets in the first place. I've noticed this sentiment only getting smaller as the market matures and other platforms become better adopted.
 
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Seniorpreneur

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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.

The biggest loss in the Bitcoin world is yet to come. That's when the IRS comes in to take their fair share. Can you imagine how much tax is owed if your Bitcoin profits are in the thousands and many investors in the millions?
 

James Fake

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@Seniorpreneur @JScott - Same.. IRS have been a beast for me. Majority of mine are Short Term since I can't hold any one "coin asset" longer than a year lol.. arghhhh..

I've noticed this sentiment only getting smaller as the market matures and other platforms become better adopted.

Ah, yes.. very true. I believe sentiment is similar to lines on a chart. In that; any one sentiment will eventually bottom out and go flat & sideways with no volatility.. just like price.. (or are they one of the same & a direct reflection of each other... hmm....) and the only other way it can go is up lol.

For example; ETH, I think is in the "forgotten" stage.. it's virtually the bottom as sentiment can get on it, and the mass majority people holding are those that really believe in it's long-term utility (aka "that it's not just like any other Alt").

I believe this "that it's not just like any other Alt" is steadily about to pick itself up from the completely forgotten stage and 'come back to life' to say.. It will however imo be quite a while before we see any 2017, but I do believe it's ready to slowly and in a very ugly way trend upwards overall from this point on out lol.

When we think in terms of "I wish I got into Bitcoin at $300".. I think many forget that those that did get in at $300 & held had to endure years and years of holding through a very ugly version of an slow upward trend.. which is one of THE hardest things to do imo.

And I believe this might be exactly one of those times for ETH.. It will only take like 3-4 years before I find out if I am anywhere near close to being remotely right lol.
 
Last edited:

Roli

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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.

Ouch.

So the keys and recovery phrase was stored on that as well?

Because of course, (as I'm sure you're aware) the bitcoin aren't actually on the drive, they still reside on the blockchain and can be accessed with the right info... I'm sure you've tried everything. I feel for you man.

Damn, lighting! What are the odds? :-(
 
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Fukuokasan

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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?
Banks are lending money at the cheapest interest rate in history too. Federal Reserve and BIC are printing money as if there is no tomorrow. Make your maths...
 

Fukuokasan

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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.
First mantra in crypto: "Not your keys, not your Bitcoins". Your Bitcoins aren't in your computer as your mail isn't either. When you download that wallet to your machine you MUST wrote a seed aka private key (a series of words) and save it in a secure place (offline and physicall). If you don't have it, you just lose your cryptos. There are 1M Bitcoin lose, for ever, that way.
 

Fukuokasan

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John McAfee prediction:"Bitcoin will be $1M at least by 31 Dicember 2020, if not I will eat my own dick live, in TV".
We will see it soon if he is correct...
 
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Fukuokasan

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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.
Bluetooth is a point of entry for hackers, don't use it. I recommend Trezor model T. Make your own research.
 

Fukuokasan

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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.
Bluetooth is a point of entry for hackers, don't use it. I recommend Trezor model T. Make your own research.
 

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