|
LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
|
Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: Stonehenge] 2
#24456197 - 07/04/17 07:17 AM (6 years, 6 months ago) |
|
|
Am I nuts or what?
Wow I won't answer that as instructed. You clearly are into these digital currencies.
We should price them all at 123.47 like the Naz hacked stocks today.
-------------------- Anxiety is what you make it.
|
Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
|
Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: LunarEclipse] 1
#24456348 - 07/04/17 09:11 AM (6 years, 6 months ago) |
|
|
Ripple has been around a long time, never got off the ground.
Do not use coinbase, they have not only ripped off many people already with a gox type fake hack but also are well known to demand and turn over all your info to the govt. They also will close your account for any reason and keep your money or coin as long as they feel like. Send coin from them to lbc or the dark web or gambling or a lot of places and boom, your account is closed. This is all a matter of record, do a little looking around before you hand your money over to those clowns.
If you want to change btc into something else try shapeshift.io they have a good rep so far. Do not leave your coin on any exchange. Leave no more than you can afford to lose. Move it promptly to your own wallet, electrum is good on a computer, mycellium on a phone.
Most coins are pump and dump, ether has some long term possibility, so do monero and lite but its btc for the win.
|
LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
|
Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: Stonehenge] 1
#24457773 - 07/04/17 07:05 PM (6 years, 6 months ago) |
|
|
Quote:
Stonehenge said: Ripple has been around a long time, never got off the ground.
Do not use coinbase, they have not only ripped off many people already with a gox type fake hack but also are well known to demand and turn over all your info to the govt. They also will close your account for any reason and keep your money or coin as long as they feel like. Send coin from them to lbc or the dark web or gambling or a lot of places and boom, your account is closed. This is all a matter of record, do a little looking around before you hand your money over to those clowns.
If you want to change btc into something else try shapeshift.io they have a good rep so far. Do not leave your coin on any exchange. Leave no more than you can afford to lose. Move it promptly to your own wallet, electrum is good on a computer, mycellium on a phone.
Most coins are pump and dump, ether has some long term possibility, so do monero and lite but its btc for the win.
Honestly dude, why on earth wouldn't you buy maples and stash them somewhere?
When did everyone become experts on currency that doesn't exist?
I seem to remember when you were a real money guy, I suggest you get back to that stage. This creeptocurrency is creepy.
-------------------- Anxiety is what you make it.
|
geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,417
Loc: city of angels
Last seen: 9 minutes, 50 seconds
|
Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: ManianFH] 1
#24461515 - 07/06/17 09:36 AM (6 years, 6 months ago) |
|
|
Quote:
mick said: I just purchased .2 BTC to put towards Tezos. Not a lot but its at the limits of what we can afford. So it says its like a fundraiser, but I guess the coins will show up eventually?
I dont know how that works and am hoping im not just donating money to them, that would suck. Can anyone who knows their platform explain that?
Thanks, and thank you Geo for the heads up on it.
Don't thank me yet, mick! You are essentially donating your money to the Tezos team, in hopes that their product will gain widespread adoption over time. It is entirely possible that you will lose the value of your entire contribution, even as I am sure your Tezos wallet will ultimately become populated with the new coins - or "teezies" as they are called - after the close of the fundraiser.
This ICO has garnered way more attention that I thought it would, and due to the nature of its uncapped fundraising efforts, it will start off with a huge valuation (already having raised the highest amount of any ICO to date at around $200 million with days left to go). This is good for the developers who are guaranteed a % stake in the fiat proceeds as well as the genesis issuance of coins, but it also means that the Tezos platform will be under a lot of pressure to prove the usefulness of the technology and find businesses who will adopt and make use of it quickly, or else they risk all of these early speculators attempting to ditch their investment in the ICO. Because of the ICO's popularity, there are likely a lot of speculators looking to flip the coins on the open market once the fundraiser has closed and they receive their allotment of the genesis coins. Unfortunately, because the ICO is running for so long and has no cap, it is essentially allowing everyone who wants to participate, a piece of the pie, so speculators with the intention for a quick flip will likely be disappointed as all of the demand will have been soaked up by the ICO and we could face a pretty serious oversupply issue, at least at the outset.
I did participate, but only contributed a single bitcoin while receiving the 20% early adopter bonus allotment, for an estimated total of 6,000 tezzies at issuance. If the price crashes hard at the outset, I may double my stake... but it is very important to keep in mind that enthusiasm for cryptocurrencies is at a fever pitch right now, and it may take a long time for Tezos to prove itself, if it ever does. Thus, anyone participating in the ICO must understand that it is a 100% completely speculative investment that can most definitely become worthless.
Here is a good discussion on Reddit regarding some of the concerns surrounding Tezos, my apologies for not having posted this sooner: https://www.reddit.com/r/ethtrader/comments/6am251/what_are_everyones_thoughts_on_tezos_coinss_ico/
I think these guys have a shot at something big, but the massive upfront crowdfund does make the opportunity to participate a little less appetizing.
--------------------
-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
|
ManianFH
living in perverty



Registered: 07/06/04
Posts: 14,741
Last seen: 15 hours, 16 minutes
|
Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: geokills] 1
#24462099 - 07/06/17 01:40 PM (6 years, 6 months ago) |
|
|
I am aware geo, and would not have cursed your name even if it did go belly up. We both are well-versed in the risk of cryptocurrencies. For as much attention as this gained, I knew nothing of it until these threads, and thus am grateful for the knowledge, if nothing else.
Thanks for the reddit link. I too was concerned about all the hype it has gotten, and told my friends to exercise extreme caution, though most of them still dont even know what a bitcoin is. Well see how it goes.
-------------------- notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... " ChrisWho said: "It's all about the journey, not the destination."
|
howsyournaggerdoin
Happy


Registered: 02/04/16
Posts: 1,600
|
Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: ManianFH] 1
#24463557 - 07/06/17 10:16 PM (6 years, 6 months ago) |
|
|
I think the main appeal of tezos is that its supposed to scale better. So IMO the success of tezos depends on how quick ethereum can resolve their scaling issues.
|
Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
|
Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: howsyournaggerdoin] 1
#24464565 - 07/07/17 09:30 AM (6 years, 6 months ago) |
|
|
There is money to be made in lesser coins and new coins if you guess right.
Wall street tried to launch an etf based on bitcoin. Now there is another plan afoot to create a fund investing in crypto coins. From coindesk
Quote:
It appears a trend is taking shape. Following a former Goldman HFT trader's massive initial coin offering, another Wall Street-er has come to the dark side of virtual currencies. A former senior manager at consulting firm Bain & Company, is launching a Bitcoin fund, providing access to the cryptocurrency to some of the wealthiest families in Latin America.
This can only drive prices higher
-------------------- “A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835) Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755
|
outofservice
I never get to touch no monkey

Registered: 04/27/17
Posts: 160
Loc: Sun & Sand
|
Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: geokills] 1
#24525931 - 08/02/17 08:51 PM (6 years, 5 months ago) |
|
|
Monitoring
|
John Nada
Toujours Frais

Registered: 03/03/03
Posts: 97,746
Loc: Hotwings; race car
|
Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: geokills] 1
#24544964 - 08/10/17 10:19 PM (6 years, 5 months ago) |
|
|
Can anyone recommend me some good mining pools for Ethereum? ETH should be more profitable than XMR, but not with the pools I've found.
|
geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,417
Loc: city of angels
Last seen: 9 minutes, 50 seconds
|
Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: John Nada] 1
#24548211 - 08/12/17 12:55 PM (6 years, 5 months ago) |
|
|
I rung the register on about one third of my BTC position here at $3950. I think $4000 is going to be a level where participants will take some profits, and given the volatility, I am looking to reload what I sold today at around $2900. I haven't historically traded crypto, but the move up to $4,000 has been so darn fast, I have to imagine a correction will be imminent and figure I'll try for the quick scalp.
John Nada, I can't help you on the pools as I've never used one myself. I tried mining Ether with the Geth client on my dual GPU's, but after a week of 100% dedicated runtime with no blocks to show for it, I decided mining wasn't really for me, given my current equipment. However, if I were so inclined to try again, I would probably do it via a pool. Just don't have the experience to recommend any at the current juncture.
--------------------
-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
|
Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
|
Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: geokills] 1
#24548247 - 08/12/17 01:14 PM (6 years, 5 months ago) |
|
|
Mining has been mostly unprofitable unless you get cheap electricity.
Good job cashing in at 3950, how did you do that, what exchange? I think it did peak a little then drop back some. I'm not cashing in just yet though I agree a correction seems likely. But as I say, just when you think its certain to dip, it shoots up some more. 4k does sound like a grab the money and run figure, as you have done. I really doubt it will drop to 2900 but that is possible. I own now over 65 coins worth well over 1/4m and I'm still buying. I got some yesterday at ~3400 which seemed like sticking my neck out but up it went.
Its rare for coin or anything to just keep going up with no corrections. But pent up demand, the shaky situation with fiat, currency controls, etc all contribute to its rise. If you are a chinese billionaire who would like to move money elsewhere, what do you do? A few mill purchase could send it up to 5k or more. Then people want to get on the bandwagon as they are doing now. Success breeds success. How would we feel if we sell now and it goes past 10k before correcting? Pissed off no doubt and maybe mad enough not to buy any more until it goes down to 1k, lol. Buy if it dips a little, even back to 3500 which locks in your profit.
What if it zig zags up to 100k and you sold cheap but did not rebuy? If 1B or two gets put into it, that will happen and a B is chump change on the world market. It could be at a tipping point and take off like the proverbial rocket as people learn about it. No doubt there will be some dips along the way, I probably sound like a hopeless fanboy but I put my money where my mouth is and so far so good. If you need the money right away then don't do it, its long term for me, ring the bell or go down in flames. More likely just watch it steadily go up with nail biting dips in between.
-------------------- “A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835) Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755
|
geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,417
Loc: city of angels
Last seen: 9 minutes, 50 seconds
|
Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: Stonehenge] 1
#24548317 - 08/12/17 01:53 PM (6 years, 5 months ago) |
|
|
Quote:
Stonehenge said: Good job cashing in at 3950, how did you do that, what exchange?
XBT/USD has been bouncing around the $3900 level for the past four hours on Kraken, with trading volume of around ~500btc/hr at this level. Kraken's execution is somewhat laggy, and they regularly have connectivity issues on high volume days, but you can enter complex/GTC orders, and they automatically credited me with BCH during the fork earlier this month so I'm OK with the minor issues for now (the majority of my crypto is held off-exchange anyway). In my experience, connectivity issues plague all of the exchanges during high volume periods, so I think that's just something one has to deal with during these relatively early days of trading crypto.
Quote:
I got some yesterday at ~3400 which seemed like sticking my neck out but up it went.
Yeah, I've been watching your notes in another thread on your buys. So far they have been working very well for you. One thing I would draw your attention to however, is that your posts are absolutely overflowing with unbridled enthusiasm (which I can understand when you're on the winning side of a trade). But candidly, a tiny part of the reason I decided to sell a portion this morning was because of your posts. I do believe the future of crypto is bright, and I think BTC will find itself well above current levels. However, when enthusiasm reaches a fever pitch and everyone thinks it's "to the moon", it's often not long before that enthusiasm peaks and a counter trend develops, even if only on a short term basis. I have been seeing a flurry of major news outlets publishing articles on crypto's meteoric rise, and I believe that is one of the reasons why we have been seeing such huge upside momentum over the past couple of weeks, starting at the fork, but really blasting off over the past week.
Quote:
How would we feel if we sell now and it goes past 10k before correcting? Pissed off no doubt...
It would be a bummer for sure, but you must remember that I still have skin in the game. If there's one thing I've learned over the 10+ years I have been actively trading stocks and options, it is never to regret taking a profit. An equally important lesson has been, forget about going all-in and all-out. Doing so is akin to believing that you are a perfect market timer, which you won't be. If I can catch the middle 60-80% of a given move, I'm very happy. Scale in and scale out. Trade around a core position if you have the time and inclination, which is exactly what I'm doing here; Selling a portion of an extremely profitable trade, with a plan to reload at a specific support level, including a contingency to modify buy and sell targets depending on the technical pattern development of future price action. I don't suspect I will ever not be holding BTC, but when you have a position that has vastly outperformed any other asset class in a very short period of time, it's worth taking some profits. If nothing else, it'll keep your head clear because you have the security cushion of being able to take advantage of unforeseen selloffs.
--------------------
-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
|
Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
|
Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: geokills] 1
#24548504 - 08/12/17 03:15 PM (6 years, 5 months ago) |
|
|
>But candidly, a tiny part of the reason I decided to sell a portion this morning was because of your posts.
Lol, I'm surprised I have even that much influence. While I sometimes sound over the top enthusiastic, its because of the fundamentals as much as performance. I also caution that dips are possible and said again in my last post do not buy if you may need the money back right away. It might go up but it might dip just when you need rent money or food
There is nothing wrong with cashing out part of your holdings, I did not criticize you for that, on the contrary. I did suggest waiting for a drop to 2900 might be fruitless. If it drops that much great but if it did it might keep dropping. You know what they say about catching falling knives. People said a while back they would wait until it goes to 1k again, some are waiting for 1500 and so on. If you can afford to gamble then I suggest going for it. Buy when its going up and it usually keeps going up. Usually
The fundies I keep on about are the fact that besides eth and one or two others, its the only alternative to fiat that makes any sense. Not only has it shown resistance to inflation, it has built in advantages such as ease of transmission, anonymous capability, ease of storage, and fairly easy to buy and sell. Big govt has shown over and over they intend to regulate the hell out of us and monitor everything we make or spend. They also seem hell bent on eliminating cash and forcing us to use their system. Its already happened in india and is ongoing in other countries too.
I'm sure you agree with that in general or you would not put any of your hard earned money into it. You are just a more cautious investor which is the kind who does not get cleaned out very easily. I was doing much the same but decided it was time to get back in before missing the boat. Just today I bought 1k worth, .275 so I got it slightly below spot but paid over 3600 per coin. I was a bit reluctant given the recent spike, I may regret it in a few days but then be very happy in a few months or less. I saw the train leaving the station and wanted back on.
I still have piles of cash from the profits I made already. Not as much as if I didn't sell any of it but buy at 1000 and sell at 1100 then buy back at 1k can't go too far wrong. I just concentrated on selling too much and didn't buy enough If I had only bought and not sold or had immediately reinvested my profit from selling I might be sitting on .5m to 1m just in coin. If my present stash of coin goes to zero I am still ahead of the game though will not be cheering wildly, to say the least.
I advise people to think of it as your retirement money or speculate if you wish. If people had bought when I said it was going to go up a couple years ago with btc at 350, they would be all smiles today. That post is still there. Put it aside and don't worry about ups and downs. Don't invest what you can't afford to lose. Then buckle your seat belts for a wild ride to the moon!!!!!!!
-------------------- “A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835) Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755
|
geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,417
Loc: city of angels
Last seen: 9 minutes, 50 seconds
|
Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: Stonehenge] 2
#24548703 - 08/12/17 05:01 PM (6 years, 5 months ago) |
|
|
There ya go with that moon shot again.
Honestly, when I look at the chart as it stands today, I could make a case that it's pretty much gone to the moon already. This is a weekly view, put it on a monthly view and it appears even more parabolic.

One small piece of wisdom I have learned throughout my experience in the markets is that pretty much everyone looks like a genius when the market is strong. Crypto has been unbelievably strong, so anyone with skin in the game is making amazing returns. But if history is any guide, it won't always be that way. It is only during the hard times in the market that one may differentiate good traders from bad, and we haven't really had hard times in crypto since Mt Gox went bankrupt in 2014 (I even have a claim for nearly 40 btc from that whole fiasco).
While I do believe we will see higher prices for this asset class, there is always an ebb and flow, and the moves of the past few months (especially the last couple of weeks) have been so huge that there is bound to be a reversion to the mean. Take it for what it's worth, and try not to play "all in vs all out", scale in and out incrementally, trading around a core position. Sell a bit when everything looks like it will never stop going higher, buy it back when people start to panic in a selloff.
Do I honestly believe we will see $2900/btc again? Doesn't seem far off to me, particularly if we view it through the lens of history:- 39% selloff between June > August 2016
- 35% selloff in January 2017
- 33% selloff in March 2017
- 39% selloff between June > July 2017
That is some incredible volatility ... and we've spiked 121% in the last month alone. My target buy point of $2900 is 27.5% below today's high. Given how frequently we've seen 30%+ selloffs over the past year, it definitely appears to be within the realm of possibility, and (hopefully) a good trade.
--------------------
-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
|
Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
|
Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: geokills] 1
#24548907 - 08/12/17 06:53 PM (6 years, 5 months ago) |
|
|
Sure its possible that it will drop that much. I'm just saying if you hold out for that price (2900) you may not be able to buy any more of it.
I'm not knocking your charts or stock experience. Charts do have some validity though the formations and predictions seem a little like voodoo to me sometimes. What I say is that first of all this is not a stock. Obvious enough but look at the differences. Stocks are companies that must make profit. They can be ruined by events such as takata and the exploding airbags. Their success often depends on the ceo and management in general. BTC has none of those factors. We can discuss that part.
Its a commodity plain and simple, I think you might agree with that. We need to look at the things which influence its demand. In the case of gold, there are industrial uses as well as jewelry and as a store of wealth. It has drawbacks in that regard.
Its more than just a commodity since supply is more or less fixed unlike any other commodity. OK the fork in a sense created more but not more of the same. It was the creation of a new coin. I've gone over my reasons for its demand, those reasons will not go away and the vast majority of the world has not bought any coin yet and most of the world does not know even what it is.
So we see increasing acceptance and awareness of it along with steadily increasing demand. When you have a very limited supply and a history of increasing demand along with a large need, the result is going to be a steady rise in value. Am I being too simplistic or overlooking something?
The factors that I spoke of; anonymous, easily sent, etc, will only become more important as faith in fiat wanes. We have discussed the reasons fiat is failing perhaps no need to rehash? QE being maybe the biggest reason. Awareness of this and awareness of the advantages of btc are growing and may really take off
What I see realistically is a very rapid rise which seems to have started. I've said over and over there will be dips so we agree there. Right now maybe 2% of the world has used btc and maybe 5% even knows about it. Those numbers might be high, they might be a lot lower right now, maybe 1% and 4%.
At some point it becomes the thing to have for reasons of safety, investment and so on. Then comes the tipping point I spoke of in which those on the fence and those who haven't heard of it hear that its a good thing. You rarely see that with a stock company, maybe a novelty product. This is not a novelty. So when it looks like the smart money is going into it, the trickle becomes a flood. Then at some point the ones who are going to get in for investment or trade have mostly gotten in and the rise levels off
Take cell phones, the market is saturated with them, the rapid rise has already happened and its a mature market. New features are what drive sales. But there is an unlimited supply of phones or can be made with no limit in sight.
In a way its like mixing two chemicals that react with one another but must reach a certain temperature or other conditions to react. A tiny bit starts reacting, the temperature rises, at some point it takes off and you might have an explosion. That is what we have here. We have a much needed financial commodity mixed with a world that needs something like it. As awareness rises, the "tipping point" I spoke of or rapid reaction in the case of chemicals comes closer and finally takes off
It is far from too late to get in and clean up. As I say there is nothing wrong with your cautious approach and I would recommend that for most investors. Yes its easy to look good when the market is going up. I've been looking good in my predictions since a couple years ago and have not backed off. That is a pretty long stretch and I've been told over and over it can't last etc.
>it's pretty much gone to the moon already
That is just the first leg of the journey. Why do I say that? Because the potential demand has not been met even by 1%, the upside is huge. People who don't even know they need this will discover it. People who learn the advantages will use it more as it becomes more accepted. That is another thing that can take off in step with price rise. There are already services that will exchange btc for cash instantly avoiding the price instability which has been one objection to it. When businesses see other businesses taking it and making more money, they want to do the same, just as the consumer does. And the rush is on. Right now we are in the early stages.
I am not the owner of btc, am not plugging my own stock except that the few buyers who might be influenced by our discussion may raise the price by .000001% perhaps. So I'm not plugging it out of greed. I am genuinely sold on it and want to inform our people so they can benefit too.
>While I do believe we will see higher prices for this asset class, there is always an ebb and flow
We seem to be on the same page in some ways with you being cautious clay and me being eager edgar. I can afford to lose my at present .25m in coin, it would hurt but not change my lifestyle so I have little holding me back from going all in as you say. If it takes a dive and then in a year comes back stronger than ever, I'm a winner. If it goes to the moon with some pullbacks then I clean up much sooner than that. And look like a genius but then everyone will say they knew it too. You know it, but you've been burned before and are more prudent than I even though I've been burned plenty myself. I got what I got by going in big when it looks good. The wins have far outweighed the losses.
-------------------- “A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835) Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755
|
geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,417
Loc: city of angels
Last seen: 9 minutes, 50 seconds
|
Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: Stonehenge] 2
#24549101 - 08/12/17 08:08 PM (6 years, 5 months ago) |
|
|
Quote:
Stonehenge said: I'm just saying if you hold out for that price (2900) you may not be able to buy any more of it.
True enough, which is why I mitigated such a risk by selling only a minority of my total holdings at this level. If the price continues to rise, I will still be benefitting. If the price falls and builds a base above $2900, I will consider that a new support level and if the price breaks out from that base, I will likely put what I sold today back to work at whatever level that turns out to be. The numbers I work with are not absolute, I'm only mentioning where my levels are right here, right now, given the current data set. Levels are always subject to change as the developing price action warrants.
BTC is in fact breaking through $4,000 on Kraken as I'm writing this, and if I were actively trading, this would be a short-term buy signal for me without a doubt (I'm obviously not the only one who feels this way, as the price just spiked up to $4,150 during the writing of this sentence). However, due to the relative lack of liquidity and slow trade execution in BTC, I will stick with my plan to book some profits and wait for selling pressure to present itself, and subsequently stabilize, before putting those funds back to work.
Quote:
What I say is that first of all this is not a stock. Obvious enough but look at the differences. [Stocks] can be ruined by events such as takata and the exploding airbags. Their success often depends on the ceo and management in general. BTC has none of those factors. We can discuss that part.
I want to play devil's advocate for the purpose of allowing my own theory and discipline to evolve. On that, I would contend that BTC does have unknown risk factors that could affect it similarly to how sudden major liability or mismanagement can negatively impact a publicly traded stock. Such "black swan" events could be vulnerabilities that are as yet uncovered in the BTC protocol, or one that could be inadvertently introduced during the impending Segwit2x improvement proposal (or any future improvement proposal or lack of necessary improvement proposal altogether). Governance conflicts such as those that led to the BCH fork could become more pervasive and undermine confidence by dividing the miners to a greater extent. A malicious group of miners and nodes could consolidate power to achieve 51%+ of the network hashrate, and thus the ability to nefariously manipulate the blockchain. A more efficient and/or robust cryptocurrency could surpass bitcoin's market capitalization and become the dominant player in the space, at the expense of bitcoin.
Now of course, these scenarios are low probability and bitcoin has proven resilient thus far, which is one of the reasons big money is starting to pay attention to it. But to believe that bitcoin is an asset class that carries no risk is folly, as there is always risk even if it may not be clearly understood or anticipated. I again reiterate that I believe the future of crypto is very bright, and that this is indeed an exciting time to be involved. I also encourage anyone with discretionary assets available, to absolutely diversify into some bitcoin and ether. It is viable technology, although there are many players coming onto the scene everyday, so remember that this is still a largely speculative investment period. Ultimately, there will need to be more widespread adoption (i.e. real world functional business use) to sustain and grow the current market capitalization of the cryptocurrency space. For what it's worth, I do think that will happen.
--------------------
-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
|
Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
|
Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: geokills] 1
#24550072 - 08/13/17 08:32 AM (6 years, 5 months ago) |
|
|
>If the price falls and builds a base above $2900, I will consider that a new support level and if the price breaks out from that base, I will likely put what I sold today back to work at whatever level that turns out to be.
OK, but what if it never falls, or only slight pullbacks like we saw this morning where it went down to 3950? Then the conditions that you set do not occur or not until a much higher price. You may be reluctant to buy at a much higher price than you sold. I know I was but I did it anyway.
> I would contend that BTC does have unknown risk factors that could affect it similarly to how sudden major liability or mismanagement can negatively impact a publicly traded stock.
Yes, for example the miners deliberately clogging the chain to jack up fees. However, during this period when it was had to move coin without paying a ransom in fees, coin still went up though not as fast. There were also worries about the hard fork aug 1. Any stock that had the track record btc did during the last several month or all of this year would be considered an extremely fast riser. If if goes up that fast battling headwinds, what will it do when it gets a tailwind? It does what we see it doing lately.
The number of "black swans" that can occur are very limited. There can not be major lawsuits against owners or management like what destroyed takata, because there is no central ownership or management. Miners can decide to do things and have but they are not subject to lawsuits and are in most cases anon. The cottage industry of frivolous lawsuits is ruining the country, imo and if people knew how much of their income went indirectly to lawyers and lawsuits they would be furious.
Neither will there be product recalls, factory shutdowns due to strikes or material shortages. There will not be govt ordered halts in sales or use, though they may try. China tried to ban it and yet china is a big buyer of coin. I think they may have rescinded the ban, not sure. Russia too clamped down but is a hotbed of buyers simply because btc is more or less beyond the control of govt
What drives coin is utility as I keep saying. As more places accept it, as more places sell and buy it, as it becomes better known, it gains in popularity. This trend is picking up steam and shows no sign of abating. A merchant can take credit cards, pay the ~3% fee and get more business or take btc, pay the 3% fee and do the same. Customers do not have to worry about their data being stolen and used to buy junk as has happened probably to all of us. That is also a weakness of checks and ach. In addition, the merchant has the choice of keeping the coin and speculating it will rise or just as a long term investment. You do not have that choice with cc's.
>A more efficient and/or robust cryptocurrency could surpass bitcoin's market capitalization and become the dominant player in the space, at the expense of bitcoin.
Yes, and the only significant player at this time is eth which has lagged badly and has its own problems as you pointed out with btc. It becomes a matter of being the dominant player and being there first. I have illustrated that beta was technically better than vhs and yet lost the race though it had a niche, much like eth. Now it too lost out to cds and dvds.
But these are differences in ease of use, why buy a big clunky cassette when you can get a little bitty one that has more storage? VHS tapes can wear out, can go bad, can be erased by stray magnetic fields. BTC does not have those problems because its not a physical item that has physical limitations. Things could still go wrong but the number of ways it can go wrong is much more limited that with a physical product.
So we have a product that avoids the drawbacks of cc's, no limitations in sending, no large fees like wu/mg has, avoids scrutiny by govt, and that last is a big big factor too. It also is anon, another important factor to many, and is a store of wealth. How did wu/mg get so big along with paypig etc? Because they could easily send payment anywhere in the world and are now multi-billion dollar industries despite fees and chargebacks, lack of secrecy etc. They hate btc because it does all that and does it better with minimal fees and full secrecy. It also avoids inflation, another major drawback of fiat and is irreversible. To some that is not so good because with a cc you can dispute, but to those accepting payment, its a huge advantage.
Gold has a long history and is used as a store of wealth but has many problems such as being easily stolen and hard to send. Same with silver and other pm's. The price of gold has been artificially manipulated, imo by govt. According to the news and to rumor, many govts have quietly liquidated their gold stocks to stay afloat. These underground sales do depress prices or gold would be well over 2k, I think.
>Ultimately, there will need to be more widespread adoption (i.e. real world functional business use) to sustain and grow the current market
Of course, you are preaching to the choir on that. The functional use is already there and will only grow as acceptance grows. No one heard of paypig 20 years ago and now its huge despite fierce competition from similar services. It too was one of the first out of the gate and became well known.
I think the little dip we just saw was. as we said yesterday, 4k is a milestone and encourages profit taking. You took some profit and that may have been prudent even though you left money on the table and may buy in later at a higher price. So 4k was resistance, but soon as it breaks through, it shoots to the next resistance, 5k, and once past that, its up up up up.
There I go again, lol wait and see
-------------------- “A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835) Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755
|
Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
|
Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: Stonehenge] 1
#24550414 - 08/13/17 11:20 AM (6 years, 5 months ago) |
|
|
Aaaand it has already gone forward past 4k once again. You simply can not stop this train. I made some 18k in the last 24 hours or so. Not bad for a days work wouldn't you say? All aboard, the train is leaving the station.
-------------------- “A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835) Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755
|
sh4d0ws
LSx


Registered: 02/26/08
Posts: 12,086
|
Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: Stonehenge] 1
#24550878 - 08/13/17 02:25 PM (6 years, 5 months ago) |
|
|
I had bought some NEO/Antshares when it was trading at $7. I sold it about 10 days ago before it spiked, at $10 so I could buy back into BTC. Oops 
Could have made 50-60 grand if I waited 10 days. Oh well, there'll be more chances. Even if Tezos reaches $4-$5 I'd be pretty happy and have a good return. I suspect this will happen eventually, maybe by 2019
|
tomnl
Beginner



Registered: 06/16/08
Posts: 1,635
Loc: Under the shroom
Last seen: 1 hour, 32 minutes
|
Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: sh4d0ws] 1
#24551153 - 08/13/17 04:18 PM (6 years, 5 months ago) |
|
|
I did the same thing, but felt brave and bought back at 28 dollars. Not complaining 
Greets
-------------------- Been away so long I hardly knew the place Gee, it's good to be back home Leave it till tomorrow to unpack my case Honey disconnect the phone I'm back in the USSA You don't know how lucky you are, boy Back in the US Back in the US Back in the USSA
|
|