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15 hours ago, markyh said:

Ah, because the worldwide war on drugs is going so well, and you can physically find those if you spend the money to look. Lots of money though. 

Even if they blocked all legit fiat exchang s worldwide you would have black market local bitcoins operations springing up. 

But you'd be breaking the law. I doubt many of you would trade it if it was illegal like narcotics and had the same consequences. If the government could just stop you doing things there would be no need for laws. The government can't stop you murdering your neighbour if you really wanted to. Laws are there to put the responsibility on the individual.

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Shoot me down, but a few members seems a bit obsessed with this thread.  There are a lot of threads on HOUSEpricecrash and other things to do in general than aggressively defend Bitcoin (e.g. see fami

They could certainly put various things in place to try and stop but I just don't seem them doing it. Obviously they could make dealing, trading, holding or using bitcoin punishable with 10 years

Bitcoin Cash can and will scale on chain. The technology advance within the next decade will allow it to happen with ease and always remain ahead of demand. What Core have done to Bitcoin is criminal

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3 hours ago, UberMonkeySmallAndChunky said:

$200,000 + $1,300 ÷ 2 = $100,650

the market is set by the participants, Narco is not a participant.

predictions of those involved or seriously thinking of getting involved probably have more merit to price descovery for the market price.

hence why it does not pay to listen to bears who are not involved. they don’t play a part in actual price discovery. 

i myself who is involved has said several times during the last bubble that it will burst, and I was mostly concerned at the coming new higher low. 

when looking at any market look at the people involved in the space. plenty of long term holders. more are created every day, will be a lot of dramatic booms and busts, but always a reasonably rise in the higher medium term lows

i think $60,000 is the next peak, but no idea when we will hit it given the halving timing. might even be the next halving not this one. 

Edited by jiltedjen
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1 hour ago, jiltedjen said:

the market is set by the participants, Narco is not a participant.

 

Not holding coin but wanted to is a very stressful position, been there and done that.  Best thing is just to buy in and put spare energy to working out how to buy more vs stressing out over the price not dropping to where you want.   Obviously just put in what you can afford to risk at all times.  Could be a spot for some dips coming up here aswell maybe.

1 hour ago, jiltedjen said:

i think $60,000 is the next peak, but no idea when we will hit it given the halving timing. might even be the next halving not this one. 

6X only though over potentially many years.  Feels kinda bearish if the google trends ever show bitcoin highly searched again.  Would beat amazons market cap though so $60k still pretty impressive.

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1 hour ago, MonsieurCopperCrutch said:

No I can’t lose because over those years I’ve already recouped my initial outlay. But thanks for your concern.

Lol  

Its good to know a few got life changing amounts shame i was not part of the clan 5k probably would have been enough

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20 minutes ago, longgone said:

Lol  

Its good to know a few got life changing amounts shame i was not part of the clan 5k probably would have been enough

When I initially invested I thought that I was late to the party but I took that risk on the chin. Obviously it is clear now that I was incorrect in my assumption. Why do you believe that it’s too late now? What return do you think that a £5k of investment into Bitcoin today would achieve for you in 6.5 years time? Especially considering there will have been 2 halvenings by then? 

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3 hours ago, MonsieurCopperCrutch said:

When I initially invested I thought that I was late to the party but I took that risk on the chin. Obviously it is clear now that I was incorrect in my assumption. Why do you believe that it’s too late now? What return do you think that a £5k of investment into Bitcoin today would achieve for you in 6.5 years time? Especially considering there will have been 2 halvenings by then? 

Most people buy bitcoin the second or third time they hear about it pumping so nearly everyone has an "if only I'd bought when I first heard about it" story.

5 years from now people will be saying "I wish I had bought when it was only 10k".

Edited by goldbug9999
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First heard about it around £10 a coin, bought in betweeen £15 and £30 a coin. Felt like I missed the boat but wanted to be diversified and have some limited exposure for prudence, and just being sensible.

 £9,600 a coin now.

Diversification rules. 

i don’t count alt coins as being diversified as they have zero use case, they are worthless. 

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2 hours ago, goldbug9999 said:

Most people buy bitcoin the second or third time they hear about it pumping so nearly everyone has an "if only I'd bought when I first heard about it" story.

5 years from now people will be saying "I wish I had bought when it was only 10k".

Not correct in my case. I bought it immediately after I read the white paper. 

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18 hours ago, MonsieurCopperCrutch said:

When I initially invested I thought that I was late to the party but I took that risk on the chin. Obviously it is clear now that I was incorrect in my assumption. Why do you believe that it’s too late now? What return do you think that a £5k of investment into Bitcoin today would achieve for you in 6.5 years time? Especially considering there will have been 2 halvenings by then? 

nothing 

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20 hours ago, MonsieurCopperCrutch said:

When I initially invested I thought that I was late to the party but I took that risk on the chin. Obviously it is clear now that I was incorrect in my assumption. Why do you believe that it’s too late now? What return do you think that a £5k of investment into Bitcoin today would achieve for you in 6.5 years time? Especially considering there will have been 2 halvenings by then? 

Autumn 2013 for me. Got interested in mining and bought a AMD GTX 7950 @ £300 just for mining Bitcoin. Mined Bitcoin in November then switched to Litecoin. Quadrupled the operation in 2014, retired it it 2015, sold the GFX and parked the Bitcoin, Litecoin, and Dogecoin. As long as I don’t sell early and only sell 1/2 should be set for life now.

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On 27/06/2019 at 23:25, markyh said:

Jesus Christ you said this exact thing about a month ago, and by the weekend the shooting star had turned into a bull candle again, this is crypto knobhead, 24/7, it don't sleep, it don't rest or break and the week lasts 7 days, 3 more to go. Come back Monday morning and then tell what the weekly candle closed as. Could be worse, could be better. Hopefully this is a 30-40% pullback , as normal, then we consolidate, then we move up again and retest $13800.

That's almost a $3,000 pin bar. Nothing compared to the tiddler from a few weeks ago. This kind of candle is what signals the end of a bull market. This is not going to be a consolidation before moving higher. 

This dead cat went way higher than I imagined it would. Just think of all the idiots who piled in who have no idea about market cycles.

The kind of market cycle that takes silver in 1980 from $49 down to $2 over a 20 year prolonged bear. 

Edited by narco
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2 hours ago, narco said:

That's almost a $3,000 pin bar. Nothing compared to the tiddler from a few weeks ago. This kind of candle is what signals the end of a bull market. This is not going to be a consolidation before moving higher. 

This dead cat went way higher than I imagined it would. Just think of all the idiots who piled in who have no idea about market cycles.

The kind of market cycle that takes silver in 1980 from $49 down to $2 over a 20 year prolonged bear. 

Well I say it had to pull back far to parabolic, so it will pull back to $9500 to $8250 area, consolidate, the back up to retest $13800. Which will then break. No idea of timing could be a few months but May all happen in July if NYSE Bakkt does launch on the 22nd as planned.

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1 hour ago, scottbeard said:

Behind a paywall so can't read it.  Any key points you can share...?

Ahh sorry, is this link any better?

https://ftalphaville.ft.com/2019/07/01/1561973477000/Wha-Tether-could-be-going-on-with-the-bitcoin-price--/

If not one of the main sources of opinion is here: 

https://medium.com/@cryptomarketrisk/bitcoin-welcome-to-bitfinexs-second-tether-bubble-29e69126257e

Seems to be saying that this latest rise in bitcoin price is linked to the supply of tether, i.e. a contrived bubble.  I don't think it is a comment on the long term potential of bitcoin, however shows there is a lot of manipulation going on allowing people to make money. I've always wondered if the whole HODL meme is a manipulation too, stopping mass profit taking that would sink the price, allowing the manipulators to take out as much value as possible?

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35 minutes ago, Drat said:

Ahh sorry, is this link any better?

https://ftalphaville.ft.com/2019/07/01/1561973477000/Wha-Tether-could-be-going-on-with-the-bitcoin-price--/

If not one of the main sources of opinion is here: 

https://medium.com/@cryptomarketrisk/bitcoin-welcome-to-bitfinexs-second-tether-bubble-29e69126257e

Seems to be saying that this latest rise in bitcoin price is linked to the supply of tether, i.e. a contrived bubble.  I don't think it is a comment on the long term potential of bitcoin, however shows there is a lot of manipulation going on allowing people to make money. I've always wondered if the whole HODL meme is a manipulation too, stopping mass profit taking that would sink the price, allowing the manipulators to take out as much value as possible?

Unfortunately the second FT link is also behind a paywall.  I can't understand the other link, but that's because it's too complex for my brain and not your fault.

The origin of HODL was December 2013 when after a fall in the BTC price someone posted here https://bitcointalk.org/index.php?topic=375643.0:

Quote

 

I AM HODLING...You only sell in a bear market if you are a good day trader or an illusioned noob.  The people inbetween hold.  In a zero-sum game such as this, traders can only take your money if you sell.

 

In other words HODL was pretty much someone saying "don't sell at the bottom of a bear market" which somehow has been picked up to become almost a religious fervor to NEVER sell.  Which I agree is a little odd.  However, with the price in December 2013 being $600 per BTC it seems HODLing has done pretty well for that poster.

To be honest, HODL to me is just a twist on the usual advice that if you are investing for the LONG TERM (retirement etc) you shouldn't try to be a day trader and time market tops and bottoms.  Just invest in what you consider to be a good long term investment and hold it for the long term.  That could apply to shares too, not just BTC.

To me, the wisdom in HODL (if there is any) isn't "don't cash out your gainz because even madder gainz are coming" it's "don't treat long term investments like day trades".

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2 hours ago, scottbeard said:

In other words HODL was pretty much someone saying "don't sell at the bottom of a bear market" which somehow has been picked up to become almost a religious fervor to NEVER sell. 

Never selling can be a good strategy for income producing assets, like blue chip equities. You can aim to retire and support yourself using only the dividend income.

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2 hours ago, scottbeard said:

Unfortunately the second FT link is also behind a paywall.  I can't understand the other link, but that's because it's too complex for my brain and not your fault.

If you enter the second - alphaville - link you get asked to register. But if you google "Wha-Tether could be going on with the bitcoin price?" it should give you a link that works.

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Halving is coming wouldn’t be surprised if it fell back quite a bit until the halving run-up.

think this recent bubble was started just by those few people trying to buy before the halving run up, which just in itself triggered a bubble.

thankfully the halving is not that far away less than 12 months away. 6 or 7 years in Bitcoin now, time moves quick enough.

next one will be pretty massive, once the all time high is smashed through it could still go 300-400% higher 

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2 hours ago, Kosmin said:

Never selling can be a good strategy for income producing assets, like blue chip equities. You can aim to retire and support yourself using only the dividend income.

Assets that provide an income are actually classed as your wealth. Most other things are savings. Back in 5%+ interest times large amounts of cash was also wealth, now not really as the return is so low it doesn’t cover inflation erosion. Unless you rent them out your house is not a wealth asset as you have to sell it to get the income.  Bitcoin is with Gold and houses in that regard. 

A true wealth asset provides some form of income without you having to sell the asset. I guess a mortgage free OO house could be a wealth asset providing regular income  via imputed rent savings?

I suppose my SIPP is my only wealth as 75% of it is dividend baring stocks or funds, although at present all are set to reinvest and compound. 

 

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Problem with inflation figures is they don’t include things like the cost of buying a comparable house year in year out.

they don’t include the biggest wealth store we have in the U.K. 

so inflation figures are pretty worthless. 

The government plays a blinder by not including house prices, as it lets you win the race to the bottom with wages. and by having the main voting block as home owners (retired oldies with nothing to do with their time but to vote) your set to continue the system. Until the young overthrow that system with bitcoin over the next 30 years.

houses will march upwards and so will bitcoin as they are restricted true value stores. at least bitcoin doesn’t have the toxic crushing effect on the young. 

imagine a world where we still have fiat but bitcoin is the wealth store instead of houses? Houses with be affordable, and we could build more will less opposition. the early adopters will we mega rich but plenty will also die with their keys. 

the average young person could buy as little as they want, as populations grows it becomes worth more, and through human error and deaths bitcoins will be lost of that period. making the remaining bitcoin worth more. 

the key to bitcoin as a wealth store is that you do not have to mortgage your life away to corrupt banks to buy an artificially inflated house. you can save outside the corrupt fiat system and win the gain of value of bitcoin and the double whammy of the constant devaluation of fiat. 

To better explain that. imagine every penny you saved for a house deposit went up at the same ratio as the house you were looking to buy. Your savings would keep up with house price increases. you would not be fighting a constant losing battle 

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On 02/07/2019 at 09:37, Drat said:

Ahh sorry, is this link any better?

https://ftalphaville.ft.com/2019/07/01/1561973477000/Wha-Tether-could-be-going-on-with-the-bitcoin-price--/

If not one of the main sources of opinion is here: 

https://medium.com/@cryptomarketrisk/bitcoin-welcome-to-bitfinexs-second-tether-bubble-29e69126257e

Seems to be saying that this latest rise in bitcoin price is linked to the supply of tether, i.e. a contrived bubble.  I don't think it is a comment on the long term potential of bitcoin, however shows there is a lot of manipulation going on allowing people to make money. I've always wondered if the whole HODL meme is a manipulation too, stopping mass profit taking that would sink the price, allowing the manipulators to take out as much value as possible?

Kraken CEO has gone on record recently to say the Tether manipulation is FUD and they (who use USD) have seen a huge influx of real FIAT USD deposits to buy Bitcoin, as have other exchanges, but these dont show up on crypto charts as their is no way to track FIAT increases easily as their is with Tether USD increases. Basically  exchanges that use tether have had big USD FIAT influxes too, but they have to be converted into tether, with new tether printed, to then buy Bitcoin.

So Tether FUD , check, next China bans Bitcoin FUD , watch this space. 

 

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On 01/07/2019 at 22:47, markyh said:

Well I say it had to pull back far to parabolic, so it will pull back to $9500 to $8250 area, consolidate, the back up to retest $13800. Which will then break. No idea of timing could be a few months but May all happen in July if NYSE Bakkt does launch on the 22nd as planned.

$9500 almost reached for the 30% retrace, so now either that is it or it will drift lower, break down to the $8250 level for the 40% retrace. 40% is the normal historical max retrace for a Bitcoin bull market. 

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    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


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