Bitcoin

#376
#376
Called the 6500 retrace - this is going down to 6000 now. 6000 may be a good buying point. If the volume increases and we have buyers, as we've had all year when BTC has tested this level of support this could be a great spot to buy in. HOWEVER, if this breaks past 6000 and we don't see buys, BTC is going to crash hard.
 
#377
#377
GoVolsDR said:
Called the 6500 retrace - this is going down to 6000 now. 6000 may be a good buying point. If the volume increases and we have buyers, as we've had all year when BTC has tested this level of support this could be a great spot to buy in. HOWEVER, if this breaks past 6000 and we don't see buys, BTC is going to crash hard.
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lulz. In all seriousness, I am happy that you are into it, and I hope you make a boatload of money. But for the overall herd mentality on this stuff.... lulz
 
#378
#378
SpaceCoastVol said:
lulz. In all seriousness, I am happy that you are into it, and I hope you make a boatload of money. But for the overall herd mentality on this stuff.... lulz
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isn't that how the general market works? Bull/bear markets and the such?
 
#380
#380
SpaceCoastVol said:
lulz. In all seriousness, I am happy that you are into it, and I hope you make a boatload of money. But for the overall herd mentality on this stuff.... lulz
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If you threw all of your money into BTC at the peak, then I have no sympathy for you. Those are people who did not view the markets intelligently at all. However BTC is an asset that you can day and swing trade quite reliably. You can also view crypto as an investment class that requires high risk tolerance.

With that being said there justifiably is a lot of excitement around Blockchain technology, and rightfully so. Technology has been moving towards a decentralized model for at least a decade, and Blockchain will be at the center of this movement.
 
#381
#381
GoVolsDR said:
If you threw all of your money into BTC at the peak, then I have no sympathy for you. Those are people who did not view the markets intelligently at all. However BTC is an asset that you can day and swing trade quite reliably. You can also view crypto as an investment class that requires high risk tolerance.

With that being said there justifiably is a lot of excitement around Blockchain technology, and rightfully so. Technology has been moving towards a decentralized model for at least a decade, and Blockchain will be at the center of this movement.
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I agree with the excitement surrounding blockchain. A made up currency however doesn't do a thing for me personally. I get it though, one of them will take off (VHS, cassette tapes, digital music ) and some will fall into obscurity (BetaMax, 8 track, analog music), and anyone that catches the whirlwind will get rich. Lots more will go broke. But like you said, high risk tolerance required.
 
#382
#382
Called the bounce at 6000, BTC currently trading just under 6500. Interested to see if we see consolidation at this level in preparation for a bull run back towards $8000, or if this is simply a bulltrap before an inevitable crash down to 3000.

I would like to share an article I found really interesting. Binance, one of the largest exchanges in the world, is pushing hard for a decentralized crypto exchange. This has the potential to be a gamechanger in how crypto assets flow and are traded. Just like Tron purchasing BitTorrent, I think that eventually crypto exchanges will be moving towards a fully decentralized peer to peer model.

Binance Unveils Decentralized Exchange Amid Doubts Over Ethos - Bitcoinist.com
 
#383
#383
Finally saw BTC break the 6k line and touch 5900 today. Huge green candlestick a few hours later. Buy orders got filled but can the bulls sustain the volume? If this doesn't go back to 6500 very soon we're going to see continue to bleed out and eventually BTC will crash hard, with 3000 being the next level of support.
 
#385
#385
Bitcoin and cryptocurrency plunge 80% in value – making it worse than the burst of the Dot-Com bubble in the early days of the internet

Cryptocurrencies were once seen as a hot commodity in financial trading but it seems the bubble has now burst, according to industry analysts.

The value of Bitcoin and other forms of digital currency has plunged by 80 per cent since January – a total loss of $640 billion that has sparked comparisons with the Dot-Com bubble in the early days of the internet.

The steady decline in cryptocurrencies has been triggered by the wariness of institutional investors, banks and regulators.



An increasing number of startups that raised money through an ICO (Initial Coin Offering) are now selling their coins for money backed by governments, creating pressure to sell.

The latest valuation comes from the MVIS CryptoCompare Digital Assets 10 Index, based in Frankfurt, which has tracked the collapse of digital currencies from an all-time high in January to a recent 80 per cent drop in value.

The decline of these digital coins is now steeper than the Nasdaq Composite Index’s 78 per cent peak-to-trough monitoring after the Dot-Com bubble burst in 2000.

'It just shows what a massive, speculative bubble the whole crypto thing was – as many of us at the time warned,' Neil Wilson, chief market analyst in London for Markets.com, a foreign-exchange trading platform, told Bloomberg.

Bitcoin and cryptocurrency plunge 80% in value | Daily Mail Online
 
#386
#386
Franklin Pierce said:
Bitcoin and cryptocurrency plunge 80% in value – making it worse than the burst of the Dot-Com bubble in the early days of the internet

Cryptocurrencies were once seen as a hot commodity in financial trading but it seems the bubble has now burst, according to industry analysts.

The value of Bitcoin and other forms of digital currency has plunged by 80 per cent since January – a total loss of $640 billion that has sparked comparisons with the Dot-Com bubble in the early days of the internet.

The steady decline in cryptocurrencies has been triggered by the wariness of institutional investors, banks and regulators.



An increasing number of startups that raised money through an ICO (Initial Coin Offering) are now selling their coins for money backed by governments, creating pressure to sell.

The latest valuation comes from the MVIS CryptoCompare Digital Assets 10 Index, based in Frankfurt, which has tracked the collapse of digital currencies from an all-time high in January to a recent 80 per cent drop in value.

The decline of these digital coins is now steeper than the Nasdaq Composite Index’s 78 per cent peak-to-trough monitoring after the Dot-Com bubble burst in 2000.

'It just shows what a massive, speculative bubble the whole crypto thing was – as many of us at the time warned,' Neil Wilson, chief market analyst in London for Markets.com, a foreign-exchange trading platform, told Bloomberg.

Bitcoin and cryptocurrency plunge 80% in value | Daily Mail Online
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Glad I stayed away or is it time to buy some?
 
#389
#389
BigOrangeD said:
Glad I stayed away or is it time to buy some?
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Sorry I'm just now seeing this post, but you can check the thread and see my bullish calls for Ripple (XRP) and Stellar (XLM). They've both appreciated nicely since hitting their lows earlier this year. I'm also very intrigued by Cardano (ADA), and I'm excited to see their testnet go live. The market has been flat for the past month or so. There are certainly opportunities for traders to make profits in the short term, but I don't think that we're going to see a sustained bullrun until mid 2019 at the earliest.

GAVol said:
this is the only one that I know of. We need somebody to start one that explains blockchain. For the life of me, I don't get it.
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Below is a link from IBM that provides a 30,000 foot overview of what blockchain techonology is. IBM has been very active in this space, and they have lots of interesting resources to learn more about blockchain technology.

What is blockchain? - IBM Blockchain
 
#390
#390
GAVol said:
this is the only one that I know of. We need somebody to start one that explains blockchain. For the life of me, I don't get it.
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Gotcha.

any objection to me making one?

I'd probably make it in the pub, though as there is already a "all things stocks" thread there (and I'd highly prefer if it was more about investing in cryptocurrencies and as little about politics as possible)
 
#391
#391
DocVOLiday said:
Gotcha.

any objection to me making one?

I'd probably make it in the pub, though as there is already a "all things stocks" thread there (and I'd highly prefer if it was more about investing in cryptocurrencies and as little about politics as possible)
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Put it wherever you like and I'll make sure it stays on topic.
 
#392
#392
Is Bitcoin settling down yet? It's around $3,300.

It'd be great for the wild swings to end and for it to find a reasonable equilibrium.

How can hundreds or thousands of cryptos co-exist? Is there an exchange to convert from one to another? I could see BitCoin becoming widely accepted, but how can businesses handle dozens, hundreds, thousands of different currencies? I'm pretty sure if I tried to buy some crap at Walmart with Canadian dollars the cashier would freak out.
 
#393
#393
Thunder Good-Oil said:
Is Bitcoin settling down yet? It's around $3,300.

It'd be great for the wild swings to end and for it to find a reasonable equilibrium.

How can hundreds or thousands of cryptos co-exist? Is there an exchange to convert from one to another? I could see BitCoin becoming widely accepted, but how can businesses handle dozens, hundreds, thousands of different currencies? I'm pretty sure if I tried to buy some crap at Walmart with Canadian dollars the cashier would freak out.
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I think it’s going to go down much further. I bet it settles around $100 per USD and stays there.
 
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#396
#396
lawgator1 said:
Over 23k today.

And I still don't understand it.
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I don’t personally own any but I think it’s the insane levels of government spending (inflation) that makes it alluring.

Even then it only solves one issue of the dollar (there being a finite amount to prevent the printing of money), and doesn’t solve the other major issue (in itself it has no inherent value).

I’d rather have tangible things to hedge against inflation (property, weapons, etc) than something intangible.
 
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#398
#398
With nuts like Elizabeth Warren suggesting a wealth tax and MC & Visa shutting down transactions for businesses that they have issues with, I can see the appeal.
 
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#399
#399
Thunder Good-Oil said:
With nuts like Elizabeth Warren suggesting a wealth tax and MC & Visa shutting down transactions for businesses that they have issues with, I can see the appeal.
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Wouldn't the value of bitcoin be subject to a net worth tax? (I think a net worth tax is stupid on many levels)
 
#400
#400
BigOrangeMojo said:
Wouldn't the value of bitcoin be subject to a net worth tax? (I think a net worth tax is stupid on many levels)
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Yes. Everything. But Bitcoin won’t be sharing the balances with the government like the banks do.

Also, the wealth tax would have huge base exemptions INITIALLY. But once a tax is in place they tend to expand the base as they expand government programs.

Just the threat of a wealth tax creates demand for Bitcoin and drives up the price.
 
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