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The Bubbly Bitcoin Thread -- Merged Threads

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2 hours ago, jiltedjen said:

bitcoin market dominance almost back to 50%, looks like we are seeing the long term decline of bitcoin loosing market share finally reversing.

think longer term we will see an 80/20 rule, bitcoin being 80% of the market, and 20% for smaller odd-balls/pump and dumps/niche purposes 

 

no way, jose

once the etf is approved the bigger alts will likely follow

long term i see ether dominating the market. functionality, innit

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13 hours ago, Traktion said:

They are trying to solve a very hard problem though, unlike many other projects in the space. They seem to have cracked the key problems now though and it is more about execution than R&D, after a long period of the reverse.

i was so confident it would break the 6,000 sats resistance i bought in too soon. should've has waited for the the break. a school boy error!

long term i think it has legs, though

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Nothing much happening, no ETF approval likely to happen, so its back to support until we start to ramp up for the halving.

then the new supply of bitcoin hitting the market halves, giving a natural boost to the price, from the point that it halves.

I said earlier that if you were not prepared to wait until late 2019, then this would of been a good selling opportunity, and to be weary as it looks like a bit of a short term bull-trap to me. 

of course selling Alts was always the sensible thing, the market has changed dramatically, alts can only do well short term in extreme mania phases, there may well be more pump and dumps in the next bubble, but by then they will be brand new alts, not whatever rubbish you hold now. 

HODL'ing alts is pretty mad. 

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On 31/07/2018 at 10:43, Lovely Rum said:

long term i see ether dominating the market. functionality, innit

You seriously need to do more research, at this juncture there is pretty much zero possibility of etherium overtaking bitcoin. In fact etherium is looking worse than ever right now, its no longer possible for someone to run a full node who hasn't already synced the blockchain, my overall impression is that its a project in complete chaos generally.

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7 hours ago, goldbug9999 said:

You seriously need to do more research, at this juncture there is pretty much zero possibility of etherium overtaking bitcoin. In fact etherium is looking worse than ever right now, its no longer possible for someone to run a full node who hasn't already synced the blockchain, my overall impression is that its a project in complete chaos generally.

thanks for the advice, goldbug.

at the risk of challenging your authority on the subject of cypto i must ask if you know anything about market cycles?

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On 05/08/2018 at 13:43, jiltedjen said:

the only thing that matters:

http://www.bitcoinblockhalf.com/

there will be no ETF for many years to come but the halving is a dead cert! 

Apart from being the first main strem crypto what advantages does bitcoin have over say XRP? XRP is faster, cheaper transactions, decentralised. 

 

I'm struggling to see the point of bitcoin at all. It's like Napster. 

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6 hours ago, dragging boot straps said:

Apart from being the first main strem crypto what advantages does bitcoin have over say XRP? XRP is faster, cheaper transactions, decentralised. 

 

I'm struggling to see the point of bitcoin at all. It's like Napster. 

well its a good job that the market as a whole decides its value, not just your opinion. 

alts are worthless, just variations on a theme. People tend to hold alts, talk them up, and then try to compare bitcoin to failed projects like napster which is a bit of a joke of a meme now.

its sad that people get burnt with alts, but at the same time sort of serves them right. why buy alts when bitcoin is the obvious future? the only real reason is greed and stupidity. 

fine make money from a pump and dump, just dont get left with the pile of poop bag of alts afterwards, sell up and get yourself a position in bitcoin while you still can.

and of course bitcoin is the only game in town, feel free to post in the other threads about alts.... but of course they are all dead due to lack of interest.

bitcoin derives its value from long time holders like myself who dont get bored. 

 

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12 hours ago, dragging boot straps said:

Apart from being the first main strem crypto what advantages does bitcoin have over say XRP? XRP is faster, cheaper transactions, decentralised. 

 

I'm struggling to see the point of bitcoin at all. It's like Napster. 

Enjoy your ripple 😂 more bitcoin for the rest of us who understood the need for crypto in the first place

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Need to start making memes no-coiners and no-bitcoiners various repeated cliche.

'it's like Napster' 
'Bitcoin is like Myspace and my pet shite-coin is like Facebook'
'My shite-coin is better than bitcoin because XYZ' (meanwhile Alts becomes worthless)

its not really that complicated, jut buy and hold bitcoin, bitcoin can, and will eventually solve a lot of problems in the world. It fills a need, and has the network + security to back it. Alts are just there to catch the overspill mania from bitcoin, which naturally traps the greedy and ignorant investors, you can get smarter guys who can see Alts for what they are, make a killing, sell up before the dump and either take the cash and run or at least have bitcoin to show for it. 

 

7 hours ago, dannyf said:

Enjoy your ripple 😂 more bitcoin for the rest of us who understood the need for crypto in the first place

+100, Alts are long term worthless, just short term pump and dumps, to still be holding alts after the bubble burst is pretty tragic, their value is only heading in one direction, better to sell now than wait for what little value is left to erode to nothingness. Its hard to realise losses but Alts are not bitcoin, waiting for a break even mark is pointless, when the next bitcoin bubble comes it wont be your particular pet alt that gets pumped it will be a new wave of people looking for 'the next ripple' etc.

For now with no real chance of a Bitcoin ETF for another 10 years, the halving is the next event of any note. Bitcoin will take until sometime in 2019 to reach its near-term bottom, then from summer 2019 its the gradual climb, and then bubble heading towards the halving.

When HODLing you need to have a 10 year horizon. 

The real interesting thing is what happens during the next depression/recession/credit crunch when liquidity drains suddenly in the wider banking system. That will be a big test for Bitcoin, although you could claim bitcoin exists purely due to the last crisis having never ended in the first place! 

Edited by jiltedjen

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On 08/08/2018 at 10:00, jiltedjen said:

The real interesting thing is what happens during the next depression/recession/credit crunch when liquidity drains suddenly in the wider banking system. That will be a big test for Bitcoin, although you could claim bitcoin exists purely due to the last crisis having never ended in the first place! 

The same thing that has happened for millenia.

GOLD.

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Personally I think investing in ICOs become more and more popular today. I try to follow the latest news and recently found info about new promising ICO - iTrue. It is a Blockchain-as-a-Service solution with a built-in authentication system which enable enterprises and developers to build secure, scalable and extensible applications. I think it will be very profitable investment project.

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On 08/08/2018 at 08:00, jiltedjen said:

jut buy and hold bitcoin...sell up and get yourself a position in bitcoin while you still can.



 HODLing 

When the Bitcoin fans stop using that stupid ******ing word, I'll think about it...

I'll wait. I've got all the time in the world, fortunately. 

I can understand why people are dubious of investing in something where the community (Still) giggles at a minor typo like a bunch of 12 year olds.

 

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2 hours ago, chronyx said:

When the Bitcoin fans stop using that stupid ******ing word, I'll think about it...

I'll wait. I've got all the time in the world, fortunately. 

I can understand why people are dubious of investing in something where the community (Still) giggles at a minor typo like a bunch of 12 year olds.

 

You're so not gig bro !!

I hate that stupid word too. Its actually spelt H O L D 

Edited by wsn03

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The only thing assured on this chart is $1,350, and there's no guarantee that level will hold. 

The Bitcoin bull market is over and it's not coming back for many many years. 

BT.PNG

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23 hours ago, Craig_ said:

Bitcoin anarchists bleating as the SEC won't allow them an ETF. 

You couldn't make it up! 

Fantastic!

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i always said an ETF was totally unrealistic for at least another 10 more years.

meanwhile as the whole market falls, bitcoin is retaining more value than alts and its market dominance is now above 50%, eventually it will settle at 80% market dominance. 

Edited by jiltedjen

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7 minutes ago, jiltedjen said:

i always said an ETF was totally unrealistic for at least another 10 more years.

meanwhile as the whole market falls, bitcoin is retaining more value than alts and its market dominance is now above 50%, eventually it will settle at 80% market dominance. 

It makes no difference if altcoins drop 99.9% and Bitcoin drops 98%. Everyone has been rekt in the end and that's going to take years to recover from, maybe never. 

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those who do well from crypto buy bitcoin when others have given up hope, basically those who buy and hold and believe in the whole project do fine. Bitcoin is a long term high risk investment. At the moment i still dont think its worth buying, waiting until the bottom comes in around summer 2019, i cant see it hitting anywhere near $1,350, but for me the lower the better. The people who do well wait for the bubbles to clear and buy the lows. 

my BTC up over 1,750% still, im not worried selling 50% of my holdings It will easily pay off my mortgage in 10 years time. Thats not including the stinky free forks i also have. 

people who bought alt-coins at the mania peak, then say that the market may never recover, well, their opinions needs to be taken with a pinch of salt. Really anyone buying alt-coins opinions needs to be taken with a pinch of salt.

There are very few people who are still fine and dandy on this thread, who are calm and relaxed, carrying no losses. Last time i bought was after the 2013 bubble, and i actually did sit at a slight loss for a long period of time (as my average buying price was well above my original £15 entry). But i believe in bitcoin, and how it will change the future quite drastically.

The time to buy is when google trends show interest has fallen to about 5% of its peak interest, at which point happy days, we are at 12% of the peak interest at the moment. Its just a waiting game.

when i say hold, its not just holding what you have, its also holding off buying for now. Just sit pretty and wait. The younger generation will start to have more and more influence as time moves on, hence why i said another 10 years before an ETF is even considered. 
 

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7 hours ago, dragging boot straps said:

Explain? Xrp and the ledger is open source. 

Ripple are in control of who can become a verifying node. One company deciding that sort of thing makes it centralised. It isn't a permissionless system.

Also, XRPs blockchain is now huge. Over 8TB which can take up to 6 months to sync vs Bitcoin's 180GB which you can do in about a day. 

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