My suspicion that CME market makers were buying up bitcoin prior to the launch is something to watch.
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My suspicion that CME market makers were buying up bitcoin prior to the launch is something to watch.
Six days later and I'm STILL waiting for Gemini to verify my identity. Either I'm a lot more slippery than I thought I was, or they are getting absolutely slammed, or their systems actually suck.
Coinbase had my account up and running in a matter of minutes. I realize they offer neither the security nor the services that Gemini will offer, but there's a lot to be said for speed.
Bitcoin feverQuote:
Originally Posted by that dude who did that thing
This is poor financial maneuvering
Or cheap entertainment.Quote:
Originally Posted by digitaldeath
Change your perspective and your life will follow.
Cheeeeep!Quote:
Originally Posted by that dude who did that thing
Coinbase is linked to https://www.gdax.comQuote:
Originally Posted by that dude who did that thing
I have not used Gemini, but gdax is a hell of a lot better than Coinbase.
Ledger Nano S. They were 72 dollars on Amazon. I think they have doubled.
Quote:
Originally Posted by Bromontana
Dear lord, really? Seriously?
Here.
http://www.theamericanconservative.c...odern-history/
I still think we see a dip as low at 10k like bromontana pointed out. Who knows when that will happen though. Longtime hodlers will call it another day. The noobs and media will call it a crash. It is gonna scare alot of noobs off who will sell at a big loss. The hodlers will scoop up the cheap coins and live to ride another even higher wave a few months later.
But, the bulls keep diving back in hard on any retracement.
Benny, you seem awfully invested in "proving" the point that BTC is a bubble. Of course it's a bubble. I doubt anyone thinks there is anything objectively justifying current trading prices, but so what? Some people make money on bubbles, some people lose money. I don't read anything here indicating that people are sticking their retirement funds in BTC. Instead, a bunch of overpaid dentists are playing games with money they can afford to lose, in the hope they can properly time their exit. some of them will succeed, others will not.
That would be nice but I doubt it. I have absolutely no data to back that up.Quote:
Originally Posted by Whiteroom_Guardian
That guy uses a lot of words to say little.Quote:
Originally Posted by Benny Profane
Anyhow, back to crash scenarios... I was wrong about the 125ema, it's at a shade under 8k and rising. So best case during a strong selloff is dip buy 8k. If it needs lower like the 2015 crash and basing from 1100 to 200, the equivalent now would be around 3500-5000. So that's what I'm prepared for, up to 80% drawdown.
BCH has piqued my interest as a proxy short of btc itself, as well as having more of a transactional value in commerce.
You know, I try not to wish bad upon most people, and, I hope you remain healthy and loved, but, you and a million Chinese people are going to learn the very hard way. You're never going to retire.Quote:
Originally Posted by Bromontana
Sent from my SM-G900V using TGR Forums mobile app
Didn't you learn anything from the mortgage bubble? When banks and hedge funds and markets get involved, then we're all vulnerable. Lord only knows how badly some are exposed already, and it's all some crypto secret or something.Quote:
Originally Posted by that dude who did that thing
The longer it's tolerated as a non fraud and legal exchange, the more the greedy fucks pile on, even the ones who wear expensive suits and live in Ct..
Benny, my btc holding is less than one month's net pay. I put 22% of gross in retirement this year. I've spent free time the last five years working on building a portfolio management system that beat the s&p this year by a decent clip. I'm 36, almost own my home, and have less total debt than half of my household annual. Enjoy your private pension as my generation overcomes the challenge of succeeding without that option.
Historically were supposed to see a huge correction and maybe I'm just trying to prepare myself in case it does happen, but the last few weeks have pointed to nothing but up for a while.Quote:
Originally Posted by Bobby Stainless
What I learned from the housing bubble was that market values of any asset can change, but that fundamentals usually do not. In that case, I learned that not needing to cash out my house, and only using commercial real estate for long-term investment purposes left me in a pretty good spot. I also learned that Americans (and most other nations) were dumb enough to continually make bad choices in the aggregate, even as most people make reasonable choices individually, and there's literally nothing I can do about that (and lord knows I've tried harder than most).Quote:
Originally Posted by Benny Profane
So, if folks like bromontana wantt to play with their money, more power.
Oh, well, carry on then. That's like saying I'm white, born in comfort, never had to take out a student loan, and somehow have nearly paid off a home in a white, priveleged hood at a very young age, which means you had serious help in that endeavor from somebody else. All the while, you had enough time and money and energy to ski a fair amount, a very expensive activity. So, no wonder you're a bit bored and just want to play around.Quote:
Originally Posted by Bromontana
But, it's not bit players I worry about, it's the big guys who know how to scam the world and get rich at the same time. Who knows, it's so crazy right now, Trump might even bail them out.
Benny, so what? Seriously, there's a good chance I'm the most progressive-minded, most politically active person you will communicate with today (and I also have considerable knowledge and understanding of finance and economics). But even I have a hard time getting worked up about whether one group of assholes use bitcoin to take money from another group of assholes. The disconnect between the world of finance and the world of the rest of us schmucks who go to work, earn a half-decent living, raise our families and envision a retirement that does NOT involve driving Ferraris in Italy, is so broad that there is not much reason to care about who skewers who in global financial games, or how they do it. The difference between what you think of as a healthy financial system, and the world of silly bubbles that we have, has so little impact on the lives of most people, that they will continue to actually vote for the world of silly bubbles and think that they are engaged in high finance. So, yeah, it's a bubble, so the fuck what? The serious players know it's a bubble, only idiots are going to sink money they can't afford to lose, and I've little sympathy for people who gamble with money they can't afford to lose.
And in the meantime I made 10% in the last week, with table stakes money. I at least am gambling with money I CAN afford to lose.
How salty can one person get? I'd assume someone who skis understands risk tolerance. Maybe not?
People have this idea that the only way to invest in crypto is to go all in. Sure, that's probably a lot of teenagers and the anarchic crowd. But if you're investing sensibly, you're throwing a small chunk of change at this stuff every month after taking care of the mortgage, retirement accounts, and index funds. It's certainly what I'm doing (minus the mortgage, but not because I already paid off a home).
And if someone's playing with house money, who the hell cares?
On the BTC correction: A pullback to 8-10k would seem reasonable, and I agree there'd be massive media coverage and the requisite freakout by people who went in during the past couple of months. But that kind of pullback is totally normal. I'd be buying. Watching ETH drop from 400 to 150 or so in June-July was helpful there :)
All of the technical arguments are stacked against Bitcoin, but I don't see it going away or giving up the #1 market cap spot. I just wouldn't put more money in at this price. Same's true for Ethereum for me—given where I started buying, it just seems outside of my comfort zone.
As some of you clearly realize this is a similar game but with different players.
If you want to compare this to the housing bubble you have to note two major differences:
- The vast majority of the wealth is held by individuals now. Namely a bunch of nerds and og holders who were wise enough to keep those coins they got for pennies.
Every other time in the stock market and the housing bubble the actual money was held (controlled) by a handful of big banks and whales.
- Alot of the original hodlers (I'm guessing people in their 20s to 40s) saw their parents generation get worked over through the insidious debt system which our current economy is built on. This new generation cautiously sees this as a grand experiment and aren't just blindly throwing money they don't have into buying bitcoin.
Sure some idiots are doing this, but to compare it to other bubbles where everyone and their mom willingly signed up for crazy debt so that a few whales could get rich is being ignorant of certain important differences.
This is revolutionary shit here folks. Get woke.
Speculating or gambling. No one buying crypto currencies is investingQuote:
Originally Posted by wakefield
People are buying on credit. You don't see the parallel?Quote:
Originally Posted by Whiteroom_Guardian
https://www.engadget.com/2017/12/12/...use-investors/
Yes, there are some people doing this, but it's a much much smaller percentage than bubbles in the past where basically everyone was intentionally going into impossible debt and actually trusting a small group of whales/banks to stand behind their loans. Loans made on money that never existed. How long is it going to take for people to realize that the banks/govt gives ZERO fucks about us regular folk? They want us to be in debt forever because it's the only way they make money off of us and keep us under their control.Quote:
Originally Posted by Mazderati
The masses actually controlling their own wealth is not in their best interest.
We're in a major transitional phase. This is gonna take another 10-30 years at least, but people are getting woke and the big boys are starting to freak because fiat finally has a real contender.
i have 20k doge coins that i paid zero for
valued at $122
make me an offer and ride it to the moonAttachment 219132
Good luck.Quote:
Originally Posted by Whiteroom_Guardian
Furgetabout the Chinese.Quote:
Originally Posted by Mazderati
What, you guys think this is just savvy and hip millenials doing something new and cool, and this is different than tulips or the housing crash? Good luck with that.
Funny thing, with this tax bill, the Dow will probably break 30,000. Sad thing for those with no money, but, if you have a little, easiest money you'll make in your life, maybe. So, why not just put it all in an index fund and relax?Quote:
Originally Posted by Whiteroom_Guardian
wellQuote:
Originally Posted by Benny Profane
what fund
Anything that tracks the Dow or S&P. Do it through Vanguard so it's low cost. Easy.
Fake. Was headed to local Chuck E Cheese.Quote:
Originally Posted by mud
Benny trades in blue jean panties.
Locally sourced.
ETH and LTC have been running hard all afternoon and tonight..... to the fricken moon
bring back the tags
and the rainbow dicks
The more money I have in the harder it is to make trades. Ugggh but LTC, FKNA.
My EOS has gone from 2.00 to 10.79 in less than a month. Thrusters engaged.
Crypto-jong here, I've been following things for a bit and pulled the trigger last month picking up a small amount of BTC and LTC, enough to play with and to want more. Started at Coinbase now on GDAX.
My question is about alt coins; what exchange are any of you using? I like the look of Bitfinex and Bittrex but the first is requiring an invitation code and the second is holding off of the floodgates and upgrading before allowing new users.
Also, looking at coinmarketcap, I feel like I'm missing something. Of course there is a ton of volatility across all crypto but looking at the gains on some of the lesser-know alt coins why wouldn't you put say $500 on what looks to be a solid performer and let it ride for a few weeks, hoping to catch 200-300% and cash out (in a perfect world scenario)? I guess it would be similar to day trading one of the bigger names but if you're just using a little slush fund $$ it seems like the gains could be hudge. Keep hodling it or bounce around other alts, use gains to buy more LTC and BTC, essentially using a smaller buy in on alt for short term to produce the $$ needed to buy in to one of the more recognized coins.
School me please
I use Bittrex for alts. Didn't know that they're holding off on new accounts—that's a bummer, but it's better than having the exchange go down when prices start to swing (which'll probably happen anyways).Quote:
Originally Posted by cascadianwarrior
If you're just looking at coinmarketcap in the last week, well, everything's been green. I think a lot of people do what you describe, which is to put money into alts until they swing up, then take the profits back to one of the bigger coins. This is also why people trade pairs between coins rather than back into USD.
e.g. if you want to trade Cardano, you'd trade the BTC-ADA pair until the ratio of ADA to BTC increases, then trade it back into BTC. If you want to get it out into USD, you'd then sell the BTC.
Generally what happens on a Bitcoin upswing is that all alts crash (everyone heads to BTC to catch it). And if Bitcoin stays steady or starts to decrease or crash, the whole market crashes or alts can increase.
I don't trade like that, mostly because I'm on the up-and-up with my taxes and I think the short-term capital gains tax makes it a lot more difficult to come out ahead.
I hold a handful of coins and dollar-cost-average.
ThisQuote:
Originally Posted by wakefield
https://media.giphy.com/media/qRf6ZcgWOkRos/giphy.gifQuote:
Originally Posted by cascadianwarrior