Frugal Git Posted June 6, 2021 Share Posted June 6, 2021 Got my btc news from the BBC today. this El Salvador news is epic. I wrote a comment on a blog post of a reasonably regarded economist the other day, an obvious anti bitcoiner who claimed that ‘bigger institutions (governments and the truly giant established corps) can do better than bitcoin as a treasury asset’ if he *really* wanted to bet, based on the historical adoption over time we’ve seen it ends at Tesla/ PayPal / Square / Microstrategy, or whether they are just another step in the inevitable adoption. this is massive though imho. Biggest day in btc history since genesis. It only needed one country to do this and now every other one needs to follow suit, or declare war/sanctions. Otherwise El Salvador become El Dorado 2.0. Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 6, 2021 Share Posted June 6, 2021 (edited) 2 hours ago, warpig said: It will find its path within the next 10 days. If the deathcross materialises before it breaks higher based on the projected timeline in my chart, which looks more likely at the moment - the counter trend rally should be quite impressive. I think you could toss a coin at the moment, but if we ever needed Saylor to step in and buy BTC... it's now. Oh, and that's the other part, I have no understanding of the volume needed to make a difference to the price or what type of news would cause positive sentiment. Since I arrived in this space, only a short-time ago, sentiment seems to be less sensitive to 'good news' stories. Edited June 6, 2021 by Buffer Bear Predictive text, again! Quote Link to comment Share on other sites More sharing options...
zugzwang Posted June 6, 2021 Share Posted June 6, 2021 45 minutes ago, Frugal Git said: Got my btc news from the BBC today. this El Salvador news is epic. I wrote a comment on a blog post of a reasonably regarded economist the other day, an obvious anti bitcoiner who claimed that ‘bigger institutions (governments and the truly giant established corps) can do better than bitcoin as a treasury asset’ if he *really* wanted to bet, based on the historical adoption over time we’ve seen it ends at Tesla/ PayPal / Square / Microstrategy, or whether they are just another step in the inevitable adoption. this is massive though imho. Biggest day in btc history since genesis. It only needed one country to do this and now every other one needs to follow suit, or declare war/sanctions. Otherwise El Salvador become El Dorado 2.0. No-one needs to follow suit. This guy is f***ing halfwit! ...a country adopting a cryptocurrency as legal tender would give considerable control "to a network that isn't stable, doesn't have accountable actors and doesn't have track record of providing the kind of price stability and liquidity that a currency is supposed to provide". Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted June 6, 2021 Share Posted June 6, 2021 1 hour ago, Buffer Bear said: @MonsieurCopperCrutchyou didn't highlight the best part of the conference at 6:01. 🤣🐶 I’d rather not promote nonsense and antics like that. Someone could have got seriously hurt and I hold Musk directly responsible for encouraging these numbskulls. Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted June 6, 2021 Share Posted June 6, 2021 5 minutes ago, zugzwang said: No-one needs to follow suit. This guy is f***ing halfwit! ...a country adopting a cryptocurrency as legal tender would give considerable control "to a network that isn't stable, doesn't have accountable actors and doesn't have track record of providing the kind of price stability and liquidity that a currency is supposed to provide". Well all said and done Bitcoin is flourishing in ES due to the majority of the population locked out of traditional banking while those that are in it are being financially buggered on transfer fees. Quote Link to comment Share on other sites More sharing options...
warpig Posted June 6, 2021 Share Posted June 6, 2021 2 hours ago, Peter Hun said: With the previso that Chartists are viewed as snake oil salesmen talking their finest bolloxs. You're on ignore. Quote Link to comment Share on other sites More sharing options...
zugzwang Posted June 6, 2021 Share Posted June 6, 2021 1 minute ago, MonsieurCopperCrutch said: Well all said and done Bitcoin is flourishing in ES due to the majority of the population locked out of traditional banking while those that are in it are being financially buggered on transfer fees. The potential upside gains are absolutely eclipsed by the downside risks! Quote Link to comment Share on other sites More sharing options...
warpig Posted June 6, 2021 Share Posted June 6, 2021 1 hour ago, Buffer Bear said: There's been quite a bit of talk on BTC Twitter about this so called death cross but tbh I do not base my decisions on charts etc owing to my lack of knowledge. I will simply follow the price movement and if we reach a price I can't resist, having already front loaded, I will jump in. 😁 We all have to play this as we see fit... there's no way of being certain of the outcome... it just comes down to probabilities in the end and even a high probability may prove to be false. Death and taxes! Quote Link to comment Share on other sites More sharing options...
goldbug9999 Posted June 6, 2021 Share Posted June 6, 2021 1 hour ago, Buffer Bear said: There's been quite a bit of talk on BTC Twitter about this so called death cross but tbh I do not base my decisions on charts etc owing to my lack of knowledge. I will simply follow the price movement and if we reach a price I can't resist, having already front loaded, I will jump in. 😁 Moving Averages are completely arbitrary metrics anyway. Quote Link to comment Share on other sites More sharing options...
warpig Posted June 6, 2021 Share Posted June 6, 2021 1 hour ago, Buffer Bear said: Oh, and that's the other part, I have no understanding of the volume needed to make a difference to the price or what type of news would cause positive sentiment. Since I arrived in this space, only a short-time ago, sentiment seems to be less sensitive to 'good news' stories. The best way to use volume is to look how much volume was used to move the chat to it's extremes, it gives you an idea. It's not a hard science... One of the mistakes I made investing in gold is failing to appreciate how the state of other markets impact the gold market. Money flees over bought asset classes for over sold asset classes, so crypto charts are myopic to some degree because it doesn't give you a full picture of other investments that can impact the cryptos... They say the market price is all knowing (apart from unknowns obvs) so there should be hints in the charts... certainly sometimes there are... but big market panics are always difficult to predict. Having said that... I think we have one just around the corner. Quote Link to comment Share on other sites More sharing options...
scottbeard Posted June 6, 2021 Share Posted June 6, 2021 4 hours ago, warpig said: It will find its path within the next 10 days. If the deathcross materialises before it breaks higher based on the projected timeline in my chart, which looks more likely at the moment - the counter trend rally should be quite impressive. I think you could toss a coin at the moment, but if we ever needed Saylor to step in and buy BTC... it's now. One of the main reasons I try and stay away from trading - I really couldn't say whether over the next 6 months (say) BTC will go up or down, let alone 10 days. The only way I can get comfortable with it is to look at it as a 5-10 year investment. 56 minutes ago, goldbug9999 said: Moving Averages are completely arbitrary metrics anyway. I agree...except for the perverse fact that there are so many technical analysis fans out there it's possible that if there is a so-called "death cross" they will all sell, causing the crash they fear and re-inforcing their own beliefs. We studied things like that in A-Level economics under "self-fulfilling prophecies". Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 6, 2021 Share Posted June 6, 2021 1 hour ago, MonsieurCopperCrutch said: I’d rather not promote nonsense and antics like that. Someone could have got seriously hurt and I hold Musk directly responsible for encouraging these numbskulls. Security were very slow to react. It was a young fella and we've all done nonsense in our youth - I'm less sympathetic to Lorna Whatshername w/ her right wing extremist views who also gate-crashed one event. Anyway, I think the "toxic maximalists" re-balanced the event w/ their contributions. Btw, I can't quite work at Musk's antics. What did you make of Max Keiser's 'interview' with CNBC or whatever? What's his excuse. For a moment, I thought it was a spoof...🤔 @MonsieurCopperCrutch Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted June 6, 2021 Share Posted June 6, 2021 1 hour ago, zugzwang said: The potential upside gains are absolutely eclipsed by the downside risks! I'm not sure I agree mate, but it's going to be fascinating watching how this develops though. 😀 Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted June 6, 2021 Share Posted June 6, 2021 2 minutes ago, Buffer Bear said: Security were very slow to react. It was a young fella and we've all done nonsense in our youth - I'm less sympathetic to Lorna Whatshername w/ her right wing extremist views who also gate-crashed one event. Anyway, I think the "toxic maximalists" re-balanced the event w/ their contributions. Btw, I can't quite work at Musk's antics. What did you make of Max Keiser's 'interview' with CNBC or whatever? What's his excuse. For a moment, I thought it was a spoof...🤔 @MonsieurCopperCrutch I didn't see the MK interview. Can you point it to me please? Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted June 6, 2021 Share Posted June 6, 2021 3 minutes ago, Buffer Bear said: Security were very slow to react. It was a young fella and we've all done nonsense in our youth - I'm less sympathetic to Lorna Whatshername w/ her right wing extremist views who also gate-crashed one event. Anyway, I think the "toxic maximalists" re-balanced the event w/ their contributions. Btw, I can't quite work at Musk's antics. What did you make of Max Keiser's 'interview' with CNBC or whatever? What's his excuse. For a moment, I thought it was a spoof...🤔 @MonsieurCopperCrutch Totally agree with you re Loomer and find it reprehensible toxic maxis attacking Jack Dorsey. A guy who's doing so much for Bitcoin. Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 6, 2021 Share Posted June 6, 2021 5 hours ago, Peter Hun said: I have no idea what the tweet was about. Could you summarise? It was pretty much the same as the other post. Checked twitter, poster has confirmed it was deleted owing to the lack of evidence. Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 6, 2021 Share Posted June 6, 2021 1 minute ago, MonsieurCopperCrutch said: Totally agree with you re Loomer and find it reprehensible toxic maxis attacking Jack Dorsey. A guy who's doing so much for Bitcoin. Ridiculous. And also investing $5m in solar-powered mining. Totally committed given his comments. He gets it. Struck me as very humble and we also see the work he is doing with Jay-Z! Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 6, 2021 Share Posted June 6, 2021 (edited) 9 minutes ago, MonsieurCopperCrutch said: I didn't see the MK interview. Can you point it to me please? Will do. I'm still working through the last few hours of the two days. Helpfully, Bitcoin Magazine have produced individual videos of the key discussions on YouTube. Not sure if this is on there, but whilst I only have a mainstream view of the Silk Road shenanigans, I found it quite disturbing listening to Ross Ulbricht's contribution. Edited June 6, 2021 by Buffer Bear Quote Link to comment Share on other sites More sharing options...
warpig Posted June 6, 2021 Share Posted June 6, 2021 26 minutes ago, scottbeard said: One of the main reasons I try and stay away from trading - I really couldn't say whether over the next 6 months (say) BTC will go up or down, let alone 10 days. The only way I can get comfortable with it is to look at it as a 5-10 year investment. Charts aren't just for trading. I personally think everyone should have a look at a chart just before they buy... does it look like a good time or not. It's just another tool to help make an informed decision. Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 6, 2021 Share Posted June 6, 2021 @MonsieurCopperCrutch Day 2 6:26 Ross U 6:55 Toxic maximalists Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 6, 2021 Share Posted June 6, 2021 29 minutes ago, scottbeard said: One of the main reasons I try and stay away from trading - I really couldn't say whether over the next 6 months (say) BTC will go up or down, let alone 10 days. The only way I can get comfortable with it is to look at it as a 5-10 year investment. I agree...except for the perverse fact that there are so many technical analysis fans out there it's possible that if there is a so-called "death cross" they will all sell, causing the crash they fear and re-inforcing their own beliefs. We studied things like that in A-Level economics under "self-fulfilling prophecies". This is also my strategy - long-term but I do follow stuff closely at the moment as I'm new to this. My current level of focus is unsustainable that's for sure and at some point, I will scale it down a little. 1 minute ago, warpig said: Charts aren't just for trading. I personally think everyone should have a look at a chart just before they buy... does it look like a good time or not. It's just another tool to help make an informed decision. I take your point i.e. at least look at various sources but I'm not sure charts would sway me too much in one direction or the other. Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 6, 2021 Share Posted June 6, 2021 (edited) Just realised you meant Max (well, he is a maxi)! Not Maxis. Will post. Actually, it will bring out the salty brigade so I will point you to the source as requested! 😏 @MonsieurCopperCrutch Edited June 6, 2021 by Buffer Bear Quote Link to comment Share on other sites More sharing options...
warpig Posted June 6, 2021 Share Posted June 6, 2021 3 minutes ago, Buffer Bear said: I take your point i.e. at least look at various sources but I'm not sure charts would sway me too much in one direction or the other. At the extreme of the charts it might... it's worth a 5 minute look IMO. Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 6, 2021 Share Posted June 6, 2021 (edited) @MonsieurCopperCrutchinteresting, Jack Maller's twitter account is currently unable to retrieve messages. Edited June 6, 2021 by Buffer Bear Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted June 6, 2021 Share Posted June 6, 2021 Quote Link to comment Share on other sites More sharing options...
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