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All charts do in any analysis is provide a vehicle for trade discipline. An asset like BTC with no fundamentals other than supply is a perfect candidate. I’m not a practitioner but the Elliott Wave is perceived as a sentiment indicator and it is widely considered in BTC trading for that reason.Quote:
Originally Posted by Dexter Rutecki
Im not surprised that BTC is stabilizing around $13.3.
I also really believe in blockchain technology. Making my own coin now for fun in Python. So not just chart TA.
Seriously.Quote:
Originally Posted by Dromontana
You got in NEO below 60 now, yeah? I'm somewhat regretting my choice to bet on BTG when BCH fever hit; chasing candles never ends well, I knew better in the moment.
What about starting a TGRCOIN?Quote:
Originally Posted by ICantLogIn
Might as well start somehow monetizing the time spent formulating and posting comments.
Im in IT for work so its to brush up on my work skills.Quote:
Originally Posted by swissiphic
the mining process involves arguing about the ramp angle on various tech bindingsQuote:
Originally Posted by swissiphic
But you only get coins if you post pics verifying the ramp angle delta or of your significant others tits.Quote:
Originally Posted by mbillie1
1 TGRcoin = $0.05?
price never really goes up, just stays $37Quote:
Originally Posted by reckless toboggan
FKNACoin or just FKNA
I was thinking BiTGR (tm) (boiler plate, boiler plate).Quote:
Originally Posted by ICantLogIn
yeah fuck it lets ICO this thing and make some scratch lol
If TGR changed its name to BiTGR Coin they might be able to afford a fan for the server closet.Quote:
Originally Posted by mbillie1
We can create a currency that finally supports tags in the block chain.Quote:
Originally Posted by JimmyCarter
[infor$10dollar]
Yes, FKNA Coins!
So, if BTC recovers and hits $20k, are the guys who spent today gloating going to come back in here and admit their error? (Don't worry, it's a rhetorical question).
Yah. But maxed out at a total of $37 worth of coins. Then you have to create an alias and start over. If you do it in a divorce thread, you get 3 extra coins.Quote:
Originally Posted by JimmyCarter
I was semi joking about the TGRCOIN idea but, pretty serious about this pitch...what about transposing the whole TGR forum into STEEMIT.com?
https://steemit.com/
here's the 'what the fuck is steemit' faq:
https://steemit.com/faq.html#What_is_Steemit_com
I've got buddies posting articles, upvoting, commenting daily and making decent bucks a day depending on how much time they're on the site. The money accumulates as steem dollars which convert to hard currency or convert to other cryptos.
I'm in the app process right now; can't wait to start monetizing my ski binding/boot ramp/delta angles rants!
But seriously though, why don't we pressure the powers that be to convert to a steemit model or just move the whole works into steemit.com?
We're at an inflection point; time for action.
FKNA
PoW = vertical feet logged
Mining = skiing
10k ft = one coin
Instant promotion to Head of Marketing ... congrats!Quote:
Originally Posted by mud
Trade 'em one for one for GNAR points with visual evidence signed with your private key
Fuck yeah to FKNA Coin!
That's just silly. People on this site don't actually ski...they just talk about it. Duh.Quote:
Originally Posted by 365wp
Use it to reward those epic TR posters
Uphill vert gets you 2x the coinage
Ponder the fun(gibility) and (f)utility
Bout to cross 15k. Wild ride today.
I'd buy the short on that. The dentists here wouldn't do it, and the posts that do are fake news.Quote:
Originally Posted by 365wp
Obvs.
continue to be long bitcoin but leery of other alts right now in short short term...nice rebound in bitshares though.Quote:
Originally Posted by Bobby Stainless
Im not cashing any of this stuff in for a year at least. Just buying the dips.
http://i.imgur.com/a7yezHx.jpg
Hodl or hodl not, there is no sodl
Only when it doesn't drop to near zero when the market corrects. There is simply no reason aside from tulips for this to have the value it currently does. Smart money is still short.Quote:
Originally Posted by that dude who did that thing
CME futures closed at 5pm eastern.Quote:
Originally Posted by Bobby Stainless
Hodl!!
Well, that was exciting...I just didn't touch anything.
Anyone ever try running a trading bot? https://github.com/carlos8f/zenbot
I'm wondering how big a project it'd be to get that thing up and running just to play around with.
Yeah, I didn't do anything knee jerk today. I don't have enough in to be too terribly concerned, but I should have trusted the charts a couple days ago and cut out with some. I'm long ADA, XLM, and IOTA. Holding BTG until it rebounds, I don't love BTC or any of it's forks though in comparison to the utility of ETH or speed of some others. Got a couple ICO's that a group of us are throwing some dollars at soon too. Most alts are pure ponzi-scheme spec at this point. Doesn't mean someone can't make money but I'm not willing to ride the dopamine wave that hard. I believe in the tech, but only up to a point, and something has to have good folks behind it.Quote:
Originally Posted by Dromontana
You've been in this space a lot longer than I have. Any thoughts on this?
SCARCITY
Cryptocurrency is valuable because of scarcity – cryptocurrency units (coins) will be harder to get as mining depletes the unmined coin supply… just like gold mines drying up… so the value should get higher forever vs eternally diluted like printable paper money (fiat currency)! After all, this explains why gold’s utilitarian value is but a fraction of its fiat currency value.
Crypto vs Fiat vs Gold?
Isn’t fiat currency valuation determined by economic value of a national system which also supply limits the currency based on monetary policy? Yep
Isn’t gold supply limited by finite concentrations of economically viable recoverable deposits vs current value? Yea
Can’t any mildly competent computer programmer create an infinite number of cryptocurrencies with very little effort? Uh… yes indeedy.
What is crypto?
Is bitcoin a digital commodity designed as a financial instrument? Cryptocurrency units are a commodity of secured solutions to an arbitrary mathematical problem set (say the bitcoin problemset) that utilize secured transactions of the solutions so they can serve as financial instruments. There are limited solutions (coins) to a problem set (cryptocurrency), but infinite potential problem sets. Individual solution sets are supply limited, but given that is the only independent variable for a given cryptocurrency’s value, speculative demand is the true value driver. This valuation equation explains crypto valuation swings in excess of any stable financial instrument (or even penny stock).
Is the Tulip Comparison Fair? NO…
Many compare crypto value spikes to a the bubble known as the Dutch Tulip panic. Tulips weren’t secured by blockchains, but tulip markets were a futures driven commodity market. Actual tulips had more utilitarian value than actual bitcoin, but not by much. Tulips were a commodity… but were limited by seed supply and arable land, but that’s a soft limit which is only stable at a given value. Supply limits were redefined as value skyrocketed. The supply limit was continuously relaxed due to ever-rising value. Tulip futures were sold and used to fund more Tulip cultivation and more future sales, until the reality check of virtually unlimited realized supply disconnected from utilitarian value caused the futures market to collapse down to the utilitarian value of a mere minor decorative luxury available in excess, near zero relative to the bubble peak.
Unless…
Cryptocurrency is merely a secure digital commodity with features to enable it to function as a financial instrument (as were tulip futures). The Tulip bubble equivalent in cryptocurrency is that wild value speculations will drive creation and utilization of more and more efficient and user friendly alternative problem sets to be solved (cryptocurrencies to be mined). As ever more tulips can be grown, ever more cryptocurrencies can be created. Realization of infinite alternatives diluting value will burst the illusions than there is value stability in a given cryptocurrency’s coin supply limit. This will inevitably lead to a total collapse (bubble burst) down to the utilitarian value of a solved arbitrary equations… my guess is that value is less than the average solution cost across all problem sets (eg less than all the kilowatt hours and equipment opportunity cost across all cryptocurrencies).
So is it a bubble?
This reminds me of 2007 and some folks were screaming about the mortgage market but nobody would listen... there were tons of people winning in 2007. There are tons of people winning now. Whether you win depends on when you get in... and out. This is a the theoretical model of the stages of a bubble:
Where do you think we are?
https://people.hofstra.edu/geotrans/...ges_bubble.png
Well, here are a couple of bubbles superimposed:
https://pbs.twimg.com/media/DQ2rT8bUQAAuyOY.jpg
Now just the tulips and BTC:
https://infographic.statista.com/nor..._bonanza_n.jpg
Scarcity is just a small piece of the valuation pie.Quote:
Originally Posted by Summit
https://www.google.com/amp/s/nypost....n-crashed/amp/
UBS's chief global economist on bitcoin:
"I dislike bubbles because bubbles sucker in large numbers of people and take their money and give it to a small number of people. And that's very destructive in the long term. And I think this is one of the problems that we've got."
I know the dentist-trader crowd disagrees, I just can't figure out why.
Good articles about crypto, Bitcoin, blockchain, etc. in the latest SciAm. Worth a read.
https://uploads.tapatalk-cdn.com/201...6203309d4c.jpg
I dont think people disagree with it, just that its still early.Quote:
Originally Posted by Dexter Rutecki
"I think this [crypto] is going to be the biggest bubble of our lifetimes by a longshot," former Fortress hedge fund manager Michael Novogratz said at the CoinDesk Consensus: Invest conference in New York on Nov. 28.
"Bitcoin could be at $40,000 at the end of 2018. It easily could," he said on CNBC's "Fast Money" last month. "There's a big wave of money coming, not just here but all around the world."