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The Bubbly Bitcoin Thread -- Merged Threads

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1 minute ago, goldbug9999 said:

Its the koreans who are responsible for the shitcoin frenzy, I hope they all get wiped out.

They are getting wiped out. But as these people retreat and lick their wounds - or worse - who will replace them?

 

"An estimated three in 10 salaried workers in Korea had invested in e-currencies by December 2017, according to a survey by Korean recruiting firm Saramin. Eighty percent of those people were in their 20s and 30s."

"Twenty-two-year-old Sijin Lee didn’t start trading until November. He is a third-year student at Kyung Hee University, a prestigious college in Seoul. Lee’s investment multiplied five-fold over the winter months, but now, he’s lost half of his principal. He estimates 70 percent of his friends who traded crypto lost money.

The extreme fluctuations wreaked emotional havoc on many traders, many of whom had invested much their entire life savings"

 

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2 hours ago, Kosmin said:

The extreme fluctuations wreaked emotional havoc on many traders, many of whom had invested gambled much their entire life savings"

 

Fixed that....

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It really looks like it's all going to go back to the early 2017 breakouts to flush everyone out. 

We'll then probably go through a 3-5 year flat-lined period where an ultimate capitulation low will form. Final support levels are around these areas. Some have very clean obvious levels:

Bitcoin - $1,200 to $1,350

ETH - $20 - $60

XRP - $0.07

LTC - $13

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5 hours ago, Kosmin said:

They are getting wiped out. But as these people retreat and lick their wounds - or worse - who will replace them?

 

"An estimated three in 10 salaried workers in Korea had invested in e-currencies by December 2017, according to a survey by Korean recruiting firm Saramin. Eighty percent of those people were in their 20s and 30s."

"Twenty-two-year-old Sijin Lee didn’t start trading until November. He is a third-year student at Kyung Hee University, a prestigious college in Seoul. Lee’s investment multiplied five-fold over the winter months, but now, he’s lost half of his principal. He estimates 70 percent of his friends who traded crypto lost money.

The extreme fluctuations wreaked emotional havoc on many traders, many of whom had invested much their entire life savings"

 

They must have bought leveraged / borrowed and been forced to sell? Otherwise just Hodl as you cant lose anything except of paper if you keep the coins in storage. 

It's like me smashing up my house because i'm down to £36k when I had a peak of £103k , so have "lost" £67k. Some people obviously cant handle negative figures and market swings and Crypto is one of the worst to be in in that case.

I guess that's what the big players want, scaring those that bought high to sell at a loss through all the FUD.

Hey ho.

 

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1 hour ago, markyh said:

It's like me smashing up my house because i'm down to £36k when I had a peak of £103k , so have "lost" £67k. Some people obviously cant handle negative figures and market swings and Crypto is one of the worst to be in in that case.

A lot of people are very risk averse, so avoid bitcoin. Of course willing to take a risk I think a lot are prone to excessive risk taking and/or can't handle risks/losses as well as they thought. How many are willing to take an appropriate level of risk? A few more percent of people allocating a few percent of their wealth?

 

1 hour ago, markyh said:

I guess that's what the big players want, scaring those that bought high to sell at a loss through all the FUD.

Who are the big players? Satoshi, Winklevoss?

What does FUD stand for?

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1 hour ago, Kosmin said:

 

A lot of people are very risk averse, so avoid bitcoin. Of course willing to take a risk I think a lot are prone to excessive risk taking and/or can't handle risks/losses as well as they thought. How many are willing to take an appropriate level of risk? A few more percent of people allocating a few percent of their wealth?

 

Who are the big players? Satoshi, Winklevoss?

What does FUD stand for?

Fear Uncertainty Doubt , mainly the co-ordinated negative media releases and those with a "Short" agenda spreading it. No wasn't thinking of the known crypto holders more the banks and established big fiat holders. 

I heard somewhere Goldmans bought in around $3k. No idea by what amount, but someone is selling buy huge amounts at the same time bad news is released on mass. Still happy we are way above $4k at this point, based on 2014 we would have been @ -80% from peak by now.

 

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19 hours ago, Craig_ said:

Paging @Mikhail Liebenstein , just received a message about a SwiftDemand token sale, selling at 5000 for 1 ETH.

I've already amassed almost 5000 Swifts, so does that mean I'll be able to flog them for £300?!

Sorry, been en vacance.

Yes, i’ve had the invite and it looks like SwiftDemand are running a mini-ICO distributing 200 million  Swifts in exchange for ETH in a Dutch auction.

The auction works as follow:

They ask people to bid a certain number of ETH in multiples of 0.1 ETH between 0.1 and 30 (max). The SWIFT price begins at 1 ETH = 5000 Swifts, but every 20 minutes the price per SWIFT drops 10% , so in the next 20 mins the price is 5500 per ETH then 6050 and so on until all the SWIFTs are agreed sold.

At this point the final price is locked in and everyone who bid gets the same price, or the process stops at a floor price which was something like 22,000 per ETH.

So best price is about $0.08 per SWIFT and worst case is about $0.018.

To take part in the auction they need to do Know Your Customer Checks and you need a valid Ethereum address that can be whitelisted. 

Basically they are kick starting the move to a tradeable ERC20 Token. It may take a bit longer to get listed on an Exchange, but you will soon be able to hold SWIFTS in an Ethereum ERC20 Wallet.

So yes, your SWIFTs are probably worth between £75 and £300, but of course they also keep coming in, as it is a basic income, so you can accumulate more.

If anyone has missed it, you can still sign up at www.swiftdemand.com

 

 

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40 minutes ago, Mikhail Liebenstein said:

Sorry, been en vacance.

Yes, i’ve had the invite and it looks like SwiftDemand are running a mini-ICO distributing 200 million  Swifts in exchange for ETH in a Dutch auction.

The auction works as follow:

They ask people to bid a certain number of ETH in multiples of 0.1 ETH between 0.1 and 30 (max). The SWIFT price begins at 1 ETH = 5000 Swifts, but every 20 minutes the price per SWIFT drops 10% , so in the next 20 mins the price is 5500 per ETH then 6050 and so on until all the SWIFTs are agreed sold.

At this point the final price is locked in and everyone who bid gets the same price, or the process stops at a floor price which was something like 22,000 per ETH.

So best price is about $0.08 per SWIFT and worst case is about $0.018.

To take part in the auction they need to do Know Your Customer Checks and you need a valid Ethereum address that can be whitelisted. 

Basically they are kick starting the move to a tradeable ERC20 Token. It may take a bit longer to get listed on an Exchange, but you will soon be able to hold SWIFTS in an Ethereum ERC20 Wallet.

So yes, your SWIFTs are probably worth between £75 and £300, but of course they also keep coming in, as it is a basic income, so you can accumulate more.

If anyone has missed it, you can still sign up at www.swiftdemand.com

 

 

hmm, so you swap your shoite for real (almost) cash and hope it gains traction and can be traded back to real (well almost) money at some point in the future? yes, doesnt sound like a problem at all, now where did i put my credit card, i need to buy a loada ETH so i can exchange it for something that is also being given away in exchange for my credentials, so i am in effect paying someone somewhere to give them my stuff. At least facebook didnt charge to steal all my sheeet. hahahaha, if this universal credit/wage/free sheeet ever gains any traction anywhere (and i know working/tax credits etc in the uk et elsewhere are a thing but not quite 'really' free) then i will come back here an apologise to everyone touting this pure garbage personally and eat crow wholeheartedly, until then GFY.

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6 hours ago, Mikhail Liebenstein said:

Sorry, been en vacance.

Yes, i’ve had the invite and it looks like SwiftDemand are running a mini-ICO distributing 200 million  Swifts in exchange for ETH in a Dutch auction.

The auction works as follow:

They ask people to bid a certain number of ETH in multiples of 0.1 ETH between 0.1 and 30 (max). The SWIFT price begins at 1 ETH = 5000 Swifts, but every 20 minutes the price per SWIFT drops 10% , so in the next 20 mins the price is 5500 per ETH then 6050 and so on until all the SWIFTs are agreed sold.

At this point the final price is locked in and everyone who bid gets the same price, or the process stops at a floor price which was something like 22,000 per ETH.

So best price is about $0.08 per SWIFT and worst case is about $0.018.

To take part in the auction they need to do Know Your Customer Checks and you need a valid Ethereum address that can be whitelisted. 

Basically they are kick starting the move to a tradeable ERC20 Token. It may take a bit longer to get listed on an Exchange, but you will soon be able to hold SWIFTS in an Ethereum ERC20 Wallet.

So yes, your SWIFTs are probably worth between £75 and £300, but of course they also keep coming in, as it is a basic income, so you can accumulate more.

If anyone has missed it, you can still sign up at www.swiftdemand.com

 

 

I feel it is a bit duplicitous to keep posting your personal referral link. At least be honest about it.

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7 hours ago, Mikhail Liebenstein said:

Basically they are kick starting the move to a tradeable ERC20 Token. It may take a bit longer to get listed on an Exchange, but you will soon be able to hold SWIFTS in an Ethereum ERC20 Wallet.

They specifically state it's not an ERC20 token:

"Step 6 — Token Distribution

Within (30) days of the sale being completed Swifts will be delivered to the Swift Address associated with your account. Please note that this is not an ERC-20 token. Swifts will exist on an entirely separate blockchain and you will be responsible for managing your funds."

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8 hours ago, Mikhail Liebenstein said:

Sorry, been en vacance.

Yes, i’ve had the invite and it looks like SwiftDemand are running a mini-ICO distributing 200 million  Swifts in exchange for ETH in a Dutch auction.

The auction works as follow:

They ask people to bid a certain number of ETH in multiples of 0.1 ETH between 0.1 and 30 (max). The SWIFT price begins at 1 ETH = 5000 Swifts, but every 20 minutes the price per SWIFT drops 10% , so in the next 20 mins the price is 5500 per ETH then 6050 and so on until all the SWIFTs are agreed sold.

At this point the final price is locked in and everyone who bid gets the same price, or the process stops at a floor price which was something like 22,000 per ETH.

So best price is about $0.08 per SWIFT and worst case is about $0.018.

To take part in the auction they need to do Know Your Customer Checks and you need a valid Ethereum address that can be whitelisted. 

Basically they are kick starting the move to a tradeable ERC20 Token. It may take a bit longer to get listed on an Exchange, but you will soon be able to hold SWIFTS in an Ethereum ERC20 Wallet.

So yes, your SWIFTs are probably worth between £75 and £300, but of course they also keep coming in, as it is a basic income, so you can accumulate more.

If anyone has missed it, you can still sign up at www.swiftdemand.com

 

 

Sounds dubious to me. Exchange your ETH for something which might be worth something in the future, or continue to hoover it up for free?

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1 hour ago, Craig_ said:

Sounds dubious to me. Exchange your ETH for something which might be worth something in the future, or continue to hoover it up for free?

Anyone who hands over ETH for swift is bonkers.

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7 hours ago, Inoperational Bumblebee said:

They specifically state it's not an ERC20 token:

"Step 6 — Token Distribution

Within (30) days of the sale being completed Swifts will be delivered to the Swift Address associated with your account. Please note that this is not an ERC-20 token. Swifts will exist on an entirely separate blockchain and you will be responsible for managing your funds."

Good point.

I’ll use being on holiday as an excuse, -‘and perhaps noting the comments in the auction note about needing an ETH address and not losing the key.

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5 hours ago, goldbug9999 said:

Anyone who hands over ETH for swift is bonkers.

I’m happy to chuck in 1 ETH for myself and 0.1 for each of the kids,as that is equivalent to about 0.3% of my holding of Barclays stock.

Anyway I’ve got 40,500 SWIFT already and the kids are on 7500 each. 

Not sure what will come out of the auction, as actually the lowest allowed price is lower than i’d thought, but hey if I come out it with a total of 100,000 SWIFTS at say $0.018 or there about then it’s not a bad return.

Part of my take on this is that with Crypto you need to get in early to make real money.

I’ve done very well with XRP (but that was 100% lucky timing) and having bought a small amount of overpriced Verge during the Christmas run up, which then fell, but i’ve Since increased my holding there to over 11,000 mostly bought at $0.024 or below. Verge has been climbing up the ranking nicely in the last few weeks and can go a lot further.

The other coin I quite like,  tougher to mine than BTC, is ByteCoin. Again dirt cheap, and a small amount of money can buy a lot of coins. 

But back to SwiftDemand, the one thing I know is that they have done well signing up recipients - currently there are over 500,000 accounts. To put that into context there were about 27m live  BTC addresses in existence in late 2017, and as we know most people have multiple accounts, so actual real BTC users is probably closer to 12m.

So Anyway, what this says to me is than SwiftDemand have critical mass. On that basis, I could see the price hitting comparable levels to something like XLM once tradeable. So 100,000 Swifts at $0.2 would be fine by me.

 

 

 

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2 hours ago, Mikhail Liebenstein said:

But back to SwiftDemand, the one thing I know is that they have done well signing up recipients - currently there are over 500,000 accounts. To put that into context there were about 27m live  BTC addresses in existence in late 2017, and as we know most people have multiple accounts, so actual real BTC users is probably closer to 12m.

And you get free swift by having an “account” right? I’m sure those are 500,000 unique users. Haha, this has to be a wind up surely. Each new “crypto” scam looks less and less like crypto

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1 hour ago, lombardo said:

You really don't have a clue do you? XRP, Verge and Bytecoin!! Bytecoin is a scam. https://btcmanager.com/bytecoin-the-cryptocurrency-scam-resembles-a-black-hole/

 

What next bitconnect?

It’s funny how sensitive BTC advocates are to any form of competition.

All I’m talking about getting lots of coins for tiny amounts of money, where there is a chance of significant growth.

BTC is so over priced that it will only ever lose new entrants money, but BTC advocates claim all other coins are fake and that all money must go into BTC - I wonder where the real scam is?

BTC is going down ultimately, and will be replaced. Most likely by XRP.

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1 minute ago, Mikhail Liebenstein said:

It’s funny how sensitive BTC advocates are to any form of competition.

All I’m talking about getting lots of coins for tiny amounts of money, where there is a chance of significant growth.

BTC is so over priced that it will only ever lose new entrants money, but BTC advocates claim all other coins are fake and that all money must go into BTC - I wonder where the real scam is?

BTC is going down ultimately, and will be replaced. Most likely by XRP.

I hear Venezuelan bolivars are cheap now too.

The whole argument of a particular unit being too expensive is ridiculous. Just like when the comparison was made between the price of a Troy ounce of gold vs a bitcoin. It’s meaningless unless you consider total supply. And the measure of bitcoin in particular is arbitrary as it can be broken down to any number of decimal places. Anyone who seriously doesn’t like bitcoin because they can’t own a whole one is as stupid as someone who doesn’t like dollars because they can’t own a whole million.

Keep plugging your inflationary centralised bankster owned crypto imposter. If I’m trusting banks I’d rather stick to government backed currencies than xrp

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1 hour ago, dannyf said:

I hear Venezuelan bolivars are cheap now too.

The whole argument of a particular unit being too expensive is ridiculous. Just like when the comparison was made between the price of a Troy ounce of gold vs a bitcoin. It’s meaningless unless you consider total supply. And the measure of bitcoin in particular is arbitrary as it can be broken down to any number of decimal places. Anyone who seriously doesn’t like bitcoin because they can’t own a whole one is as stupid as someone who doesn’t like dollars because they can’t own a whole million.

Keep plugging your inflationary centralised bankster owned crypto imposter. If I’m trusting banks I’d rather stick to government backed currencies than xrp

And even fiat is more sound than BTC.

Let’s speak when 1 XRP = 1 BTC

 

 

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1 hour ago, Mikhail Liebenstein said:

And even fiat is more sound than BTC.

Let’s speak when 1 XRP = 1 BTC

 

 

Will only happen once. If they both reach $0.00! As XRP and all Alts are the yappy little mutts chasing the big dog BTC ****, you may of noticed they fall more everytime BTC does. So XRP will reach $0.00 way before Bitcoin.

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19 hours ago, goldbug9999 said:

Anyone who hands over ETH for swift is bonkers.

it is reverse psychology a value is placed on swift when it happens 

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