Bitcoin

Pb Blimp

Well-Known Member
Oct 30, 2017
518
25
140
USA
So I'm restricted to Bitcoin specific, but you get to talk about IBM and everything else under the sun? :rolleyes:

I certainly have put no restriction on you. I was answering your question about why "I was bothering to look at (bitcoin from a) commercial standpoint."

Don't think you really "get it", yet, Paul.

Well you are right about that and unfortunately your following two sentences didn't clear things up for me. :confused:

The implication of pay to play being built in, is alone a staggering benefit that we haven't had. There is a lot more to it than "encryption", because of what it does at the actual level of interfacing on top of more than you're giving credit for with "encryption".
 

RogerD

VIP/Donor
May 23, 2010
3,734
318
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BiggestLittleCity
Looks like the sellers are in control. A indecision pattern that should break down if it can't rise above this small coil. If it moves lower should be swift to 8k or lower. Early next week. Of course it could bottom and head higher.
 

Folsom

VIP/Donor
Oct 25, 2015
6,024
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Robinhood allows crypto buying now, I've read. I don't have the app working. And even more confusing is that I don't know when you buy if you can transfer between wallets.
 

NorthStar

Member
Feb 8, 2011
24,305
1,323
435
Vancouver Island, B.C. Canada
I made few resolutions for this year, and an easy one is to let bitcoin bites the dust. ...To let it meet its destiny in time and in space.
If you don't do that and keep track every day it's like waiting for the atomic bomb to hit over your head.
______

Bonus:

 

ack

VIP/Donor & WBF Founding Member
May 6, 2010
6,774
1,198
580
Boston, MA
Regarding hacking cryptocurrencies https://www.npr.org/sections/thetwo...in-hack-of-japanese-digital-currency-exchange

A Japanese cryptocurrency exchange announced the theft Friday of $400 million in digital currency. Some estimates put the loss at the Coincheck exchange at over $520 million.
The stolen assets were stored in the cryptocurrency NEM, one of hundreds of digital currencies created in recent years. Bitcoin, the most well-known cryptocurrency, dropped precipitously on news of the hack but has since regained much of its value.
The incident could be one of the largest single losses of cryptocurrency ever, rivaling only the 2014 hack of online exchange Mt. Gox. Reports at the time put Mt. Gox's losses at over $400 million.

Coincheck says 500 million digital coins were lost.
 

Folsom

VIP/Donor
Oct 25, 2015
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I guess Japanese security isn't so good?

It's not like it's any easier to hack a good crypto exchange than it is any bank... these Japanese places must be awful.
 

Pb Blimp

Well-Known Member
Oct 30, 2017
518
25
140
USA

KeithR

VIP/Donor
May 7, 2010
5,144
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Encino, CA
$9000 and dropping...lol. where are all the bulls now down 53% in a month.

and everyone in crypto is hiding now in Ethereum which will be next.
 

marslo

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May 2, 2014
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Steve Williams

Site Founder, Site Owner, Administrator

edorr

WBF Founding Member
May 10, 2010
3,139
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36
Smyrna, GA
I bought Bitcoin cash at the absolute peak of $4K and am down 70% in a month. Sheer genius. Did well on some others, but overall portfolio is down 15% (I was up 50% at some point). Oh well...
 

marslo

VIP/Donor
May 2, 2014
953
673
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Fun?

To me, it is like playing Russian Roulette

Yes, I argue with my sons that crypto wil be a new gold for millenials.
They do not believe:)
I am not sure but it's a kind of family game.
The investment is realy thin , around one good power cord:)
 

Folsom

VIP/Donor
Oct 25, 2015
6,024
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Eastern WA
I bought Bitcoin cash at the absolute peak of $4K and am down 70% in a month. Sheer genius. Did well on some others, but overall portfolio is down 15% (I was up 50% at some point). Oh well...

Just wait.

The large institutions don't believe they are done making money on it, and that alone will make everything go up again. It's not a good time when everyone is paying taxes, instead of getting returns, so atm I don't expect to see much.

But also recall traditional stock has ups and downs, and doesn't always develop it something serious for years. Cryptos are still in an infant stage.
 

KeithR

VIP/Donor
May 7, 2010
5,144
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Just wait.

The large institutions don't believe they are done making money on it, and that alone will make everything go up again. It's not a good time when everyone is paying taxes, instead of getting returns, so atm I don't expect to see much.

But also recall traditional stock has ups and downs, and doesn't always develop it something serious for years. Cryptos are still in an infant stage.

Yeah, keep telling yourself that.

Bitcoin has nothing to do with fundamentals and everything to do with people chasing price. Institutions aren't chasing price on the way down.
 

Folsom

VIP/Donor
Oct 25, 2015
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On the contrary. They are buying up slowly as people bleed it off, since the excitement feels "over" to them. Then when the time is right they will start buying like a 1% bump, which is enough to send it wild on the up shoot, and people will chase the pump they'll keep going. Then they will play a game of selling while pumping, and buying some when it looks to waver. Then later they'll collect when it's lower.

Their net Bitcoin will always aim to grow, by scaring it out of the people looking for quicks gains in a short time period, at their loss. They are collecting an asset with a growing global infrastructure.

Right now they're shaking out the weak wannabe-hodlers.

You're not "wrong" in price chasing happening, which will be normal until it being used more and more starts to stabilize it. But that doesn't somehow change what it is, or many people's ultimate goal with it. There's some big money getting into more of it all the time. Not everything can happen overnight.
 

edorr

WBF Founding Member
May 10, 2010
3,139
14
36
Smyrna, GA
On the contrary. They are buying up slowly as people bleed it off, since the excitement feels "over" to them. Then when the time is right they will start buying like a 1% bump, which is enough to send it wild on the up shoot, and people will chase the pump they'll keep going. Then they will play a game of selling while pumping, and buying some when it looks to waver. Then later they'll collect when it's lower.

Their net Bitcoin will always aim to grow, by scaring it out of the people looking for quicks gains in a short time period, at their loss. They are collecting an asset with a growing global infrastructure.

Right now they're shaking out the weak wannabe-hodlers.

You're not "wrong" in price chasing happening, which will be normal until it being used more and more starts to stabilize it. But that doesn't somehow change what it is, or many people's ultimate goal with it. There's some big money getting into more of it all the time. Not everything can happen overnight.

This seems consistent with the pattern I'm observing. There seems to always been a price floor at which big money comes in to buy up supply.
 

KeithR

VIP/Donor
May 7, 2010
5,144
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Encino, CA
On the contrary. They are buying up slowly as people bleed it off, since the excitement feels "over" to them. Then when the time is right they will start buying like a 1% bump, which is enough to send it wild on the up shoot, and people will chase the pump they'll keep going. Then they will play a game of selling while pumping, and buying some when it looks to waver. Then later they'll collect when it's lower.

Their net Bitcoin will always aim to grow, by scaring it out of the people looking for quicks gains in a short time period, at their loss. They are collecting an asset with a growing global infrastructure.

Right now they're shaking out the weak wannabe-hodlers.

You're not "wrong" in price chasing happening, which will be normal until it being used more and more starts to stabilize it. But that doesn't somehow change what it is, or many people's ultimate goal with it. There's some big money getting into more of it all the time. Not everything can happen overnight.

Funny, my portfolio managers both think it has $0 risk. But that kind of investment isn't our strategy.

I find blockchain to be internet stocks 1999 part deux. It may at some point be valuable, but that day isn't near.
 

KeithR

VIP/Donor
May 7, 2010
5,144
2,812
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Encino, CA
This seems consistent with the pattern I'm observing. There seems to always been a price floor at which big money comes in to buy up supply.

it's a great trading vehicle, no doubt. my guess is quick traders are entering down after the market close and selling rips. most institutions can't buy this fyi.
 

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