Thread: RIP Bitcoin

Originally Posted by Luigi

When do you plan to sell it?

I'll likely wait till BTC hit's $500K or one million.

If my mining plan works out, will buy up some of the latest mining equipment offered. Rumors out there about Bitmain releasing a new Antminer S11.

Also forming an ICO launch idea to go along with my budding bamboo business.

Originally Posted by jabir

Mine is much the same strategy spread through eoy, play stuff supplemented by new funds, with a batch of radicals I expect to hold indefinitely (BTC/ETH/DASH/NEO/XLM etc) for the kids. But that's just what I expect, could change.

Pretty much exact same as me.


Just waiting to see some movement and some deals in the market, before injecting some play money in with the view of pulling it 5-7 days later, cashing whatever profit to my bank account and leaving the capital free to go back into another coin for the next week. Thinking of maybe 2-3 coins a week. If no profit, just leave it until there is.

Originally Posted by Mr Earl

I'll likely wait till BTC hit's $500K or one million.

Good man. An optimist.

Originally Posted by Mr Earl

I'll likely wait till BTC hit's $500K or one million.

If my mining plan works out, will buy up some of the latest mining equipment offered. Rumors out there about Bitmain releasing a new Antminer S11.

Also forming an ICO launch idea to go along with my budding bamboo business.

Any use to you?

Dec 2017:
Jan 2018:

There's a huge difference in his calculated profits between the two, just a month apart, so as the tech improves...

Originally Posted by Luigi

Thinking of maybe 2-3 coins a week. If no profit, just leave it until there is

So no more holding til Dec. '18.

Originally Posted by uncle junior

So no more holding til Dec. '18.

Good Lord.


Have you read anything I've posted.

No need to answer.


Here you go:
My current portfolio has been put away into storage. Plan to cash out 90% of its value in December should it be in the green.

From now on the cash I'm putting in will be traded, bought, sold and the profits cashed out daily/weekly/monthly.


Long-term has been put away for the rest of the year.
Short-term playing with separate cash beginning now.


Is that easy enough to understand?

Originally Posted by jabir

Any use to you?

..

Interesting, I go two Antminer S9's on the way, paid about $2000.00 each including taxes.
I'm paying 7 cent kwh for power, so with any luck they should work out.

https://www.reuters.com/article/uk-d...-idUKKBN1FE1EZ

Mnuchin notes top cryptocurrency concern at Davos
US Treasury Secretary Steven Mnuchin told the World Economic Forum in Davos, Switzerland, about his top concerns regarding the rise of cryptocurrencies. "My No. 1 focus on cryptocurrency is that we want to make sure it's not used for illicit activity," Mnuchin said.

Bubble analysis may foretell cryptomarket crashes
Bubble-detection models applied to cryptocurrencies bitcoin and ether last year indicated ahead of time a strong possibility of price crashes that took place, according to an analysis by three quant risk managers. The methodology "consistently revealed strong bubble signals, often confirmed by actual crashes observed in the crypto markets," the researchers write.

https://www.risk.net/comment/5388551...ubble-analysis

Originally Posted by Mr Earl

Interesting, I go two Antminer S9's on the way, paid about $2000.00 each including taxes.
I'm paying 7 cent kwh for power, so with any luck they should work out.

According to the estimates at 13c/kw you might break even or end up a few $ ahead.

I heard some serious mining outfits are moving to Iceland for virtually free power.

Originally Posted by Dragonfly

https://www.reuters.com/article/uk-d...-idUKKBN1FE1EZ

Mnuchin notes top cryptocurrency concern at Davos
US Treasury Secretary Steven Mnuchin told the World Economic Forum in Davos, Switzerland, about his top concerns regarding the rise of cryptocurrencies. "My No. 1 focus on cryptocurrency is that we want to make sure it's not used for illicit activity," Mnuchin said.

That's some irony, with Switzerland being one of the top mining venues.

Btw what "illicit activity" is he referring to? - is it similar to the "illicit activity" routinely conducted through banks?

Originally Posted by Dragonfly

Bubble analysis may foretell cryptomarket crashes
Bubble-detection models applied to cryptocurrencies bitcoin and ether last year indicated ahead of time a strong possibility of price crashes that took place, according to an analysis by three quant risk managers. The methodology "consistently revealed strong bubble signals, often confirmed by actual crashes observed in the crypto markets," the researchers write.

https://www.risk.net/comment/5388551...ubble-analysis

Did those "bubble-detection models" also predict that after each of those price crashes (20-30%) BTC would rebound by 50-170%?

Couldn't find it in your report, perhaps it was overlooked, irrelevant, or not important enough to report.

Originally Posted by jabir

That's some irony, with Switzerland being one of the top mining venues.

Btw what "illicit activity" is he referring to? - is it similar to the "illicit activity" routinely conducted through banks?

indeed a big irony, Switzerland the capital of money laundering lecturing the world about illicit activities

another sign that bitcoins are a big fraud with all those dodgy Swiss companies into it, with the help of Quatar and Dubai money

Originally Posted by jabir

Did those "bubble-detection models" also predict that after each of those price crashes (20-30%) BTC would rebound by 50-170%?

Couldn't find it in your report, perhaps it was overlooked, irrelevant, or not important enough to report.

the rebound is the dead cat bouncing, very well documented already

With Bitcoins you are into a bubble and the fundamentals is all that matters, not the sky. How far can it goes is not based on anything other fear or exuberant assumptions, so the sky is the limit

bitcoin traders are in delusional mode, the "fundamentals" means eventually the Kool Aid will stop, but with loons, mostly bi-polar loons, there is always some excuses to try again

Happy Trading

Originally Posted by Dragonfly

the rebound is the dead cat bouncing, very well documented already

With Bitcoins you are into a bubble and the fundamentals is all that matters, not the sky. How far can it goes is not based on anything other fear or exuberant assumptions, so the sky is the limit

bitcoin traders are in delusional mode, the "fundamentals" means eventually the Kool Aid will stop, but with loons, mostly bi-polar loons, there is always some excuses to try again

Happy Trading

Problem is there's little to compare against cryptos which are young and unprecedented super efficient tech; all of the models I've come across including yours are based on stockmarket, property and other mundane commodities.

The real problem imho, and this may determine the type of future for cryptos, because there is a future either way, is when regulators enter the fray and use those very models to regulate something entirely different.

Didn't they already do that in NYC? - overnight demolished the btc markets next door to Wall Street, and guess what - the chief regulator (Ben Lawry?) and his team that created a set of impossible regulations to obtain a licence gradually resigned from their posts and turned to high powered and expensive consulting to get through the very license application forms they had produced.

Originally Posted by Dragonfly

the rebound is the dead cat bouncing

will be interesting to see if btc ever goes above 19-20,000 again.

year chart:

Originally Posted by jabir

Problem is there's little to compare against cryptos which are young and unprecedented super efficient tech; all of the models I've come across including yours are based on stockmarket, property and other mundane commodities.

you would have to be pretty far in the rabbit hole to think it's anything different from what we have seen before,

that's the first thing they always say "this time it's different" but it's not really,

that's the first sign that you are disconnected from reality,

Happy Trading

The $300 Trillion USD derivatives debt market, means fiat is dead.

bubble participants always think the underlying asset is the real reason for the success,

it's actually the attitude of participants that drives the success and failure of the underlying asset

and the attitude never change, humans love to repeat their mistakes over and over again

and bitcoins is not different in that regard, it's just a new name for Tulips, Gold, Dotcom etc...

Originally Posted by Dragonfly

bubble participants always think the underlying asset is the real reason for the success,

it's actually the attitude of participants that drives the success and failure of the underlying asset

and the attitude never change, humans love to repeat their mistakes over and over again

and bitcoins is not different in that regard, it's just a new name for Tulips, Gold, Dotcom etc...

buyers don't seem to be coming back into the btc market like they did on previous dips (once bitten, twice shy).

wouldn't be surprised if it falls next time to 5,000.

Originally Posted by Dragonfly

bubble participants always think the underlying asset is the real reason for the success,

it's actually the attitude of participants that drives the success and failure of the underlying asset

and the attitude never change, humans love to repeat their mistakes over and over again

and bitcoins is not different in that regard, it's just a new name for Tulips, Gold, Dotcom etc...

The underlying asset is a globally distributed computer network, the most powerfull in the world, which is not subject to control from banksters or government. It is available to everyone and anyone with a handheld device.

This represents very real value, and is truly revolutionary.

This time next year BTC will the ten times the current value. Mark my words!

Originally Posted by Mr Earl

The underlying asset is a globally distributed computer network, the most powerfull in the world, which is not subject to control from banksters or government. It is available to everyone and anyone with a handheld device.

you may think that, but i'd guess 95% of those buying btc are doing so for profit and not because they believe in the "underlying asset".

that's why they'll dump it when they're not making money on it.

Originally Posted by Farangrakthai

buyers don't seem to be coming back into the btc market like they did on previous dips (once bitten, twice shy).

wouldn't be surprised if it falls next time to 5,000.

Dreaming of 5k or better, would get my full attention and my money.

Originally Posted by Mr Earl

This represents very real value, and is truly revolutionary.

it's not revolutionary, and its real value remains to be seen, if it has any utility

for now it seems that everyone is searching their souls and minds how to exploit it,

for now it's a money laundering tool, tomorrow, who knows.

The whole idea behind "smart contracts" is so ludicrous and a complete pipe dream, but it's great for tech hype and that's all they were trying to do, selling hit tech tools to gullible "gold" miners, that's how you make a fortune.

Originally Posted by Dragonfly

it's not revolutionary, and its real value remains to be seen, if it has any utility

Totally revolutionary, humanity has never seen anything like Bitcoin before.

It's real value as a secure asset away from fiat devaluations is very real.

The quick and secure global transfers of wealth equals very real utility, no question about it.