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Bitcoin and Ether

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Deal Expert
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Apr 21, 2004
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FrancisBacon wrote: I predict that we're going to blow past $8000 in short order.

Paper gold stocks have an inherent value, unlike Bitcoin: they are a claim on the future dividends and assets of physical companies.

Gold is scare because there is no other similar physical element and no other element can be invented. More gold can be discovered, but not 5x or 10x.

Bitcoin is not scarce. It can be forked. The code can be modified if 50%+1 of miners agree. Other rival cryptocurrencies can be created.
done. your prediction is the market's command:
https://www.bnn.ca/bitcoin

again, I'm not happy when people lose money but after all these exposes about cryptocurrency, to me it is technological idea (blockchain that requires so much energy consumption) with the following legs to stand on: multi-level marketing, ponzi scheme and mania.

I guess a few years ago, people were talking about RFIDing their whole inventory to track from production to fulfillment to sales but not really sure what blockchain offers that isn't already being offered today. I did read blockchain can be used to tag agriculture to protect from tampering quality (mixing inferior crops with good ones, switches, etc.), it can be used for money transfers, and maybe a few others. I'll read up more on what blockchain (not cryptocurrency) can do, that public / private key cannot do with some upgrading. this weekend.
Last edited by alanbrenton on Feb 2nd, 2018 6:51 am, edited 1 time in total.
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Nov 6, 2015
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EDIT: Jumped back into BTC @ 8100. Got stopped out a couple of days ago @ 10500. Looks like BTC took the scenic route from my chart posted last week, expecting 200DMA to hold.

Looks like Charlie Lee knew something was coming....
arvind84 wrote: Litecoin founder cashes out, never a good sign when a promoter no longer has skin in the game....

https://www.bloomberg.com/news/articles ... -his-coins
Last edited by margincall on Feb 2nd, 2018 7:48 am, edited 1 time in total.
Deal Addict
Oct 21, 2014
1939 posts
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Burlington, ON
alanbrenton wrote: done. your prediction is the market's command:
https://www.bnn.ca/bitcoin

again, I'm not happy when people loss money but after all these exposes about cryptocurrency, to me it is technological idea (blockchain that requires so much energy consumption) with the following legs to stand on: multi-level marketing, ponzi scheme and mania.

I guess a few years ago, people were talking about RFIDing their whole inventory to track from production to fulfillment to sales but not really sure what blockchain offers that isn't already being offered today. I did read blockchain can be used to tag agriculture to protect from tampering quality (mixing inferior crops with good ones, switches, etc.), it can be used for money transfers, and maybe a few others. I'll read up more on what blockchain (not cryptocurrency) can do, that public / private key cannot do with some upgrading. this weekend.
I'm not happy with friends losing money on crypto either but it serves an important lesson. Blockchain is very cool stuff but you have to separate the concept from it's implementation. There is no reason to trust these coins when they can't be insured or traced by their very design. This whole thing seems be blown up by a bunch of whales and true believers pumping to the average person. Now that the average person is no longer throwing cash at this parabola, how does it go up?

Sorry to those who lost money, but it was foreseeable.

Edit ethusd is down 25% atm, thought it would drop at least 40% today.
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Sep 8, 2007
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Way Out of GTA
FrancisBacon wrote: I predict that we're going to blow past $8000 in short order.

Paper gold stocks have an inherent value, unlike Bitcoin: they are a claim on the future dividends and assets of physical companies.

Gold is scare because there is no other similar physical element and no other element can be invented. More gold can be discovered, but not 5x or 10x.

Bitcoin is not scarce. It can be forked. The code can be modified if 50%+1 of miners agree. Other rival cryptocurrencies can be created.
I've been following the space for comedy the past month, but noticed in the last month the number of cryptocurriences jumped from 1400 to 1500. Just thought that was interesting.

LOB = Look Out Below!
Deal Guru
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Sep 8, 2007
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Way Out of GTA
Gungnir wrote: I'm not happy with friends losing money on crypto either but it serves an important lesson. Blockchain is very cool stuff but you have to separate the concept from it's implementation. There is no reason to trust these coins when they can't be insured or traced by their very design. This whole thing seems be blown up by a bunch of whales and true believers pumping to the average person. Now that the average person is no longer throwing cash at this parabola, how does it go up?

Sorry to those who lost money, but it was foreseeable.

Edit ethusd is down 25% atm, thought it would drop at least 40% today.
I could care less if a bunch of late to the party crypto buyers lose money. Same as I didn't care when they made money.

If these things fall substantially more (like another 75%) then I'll start doing some work to see which of the survivors make sense.

What is clear the now known VOLATILITY of these cryptos relative to fiat currencies is something that the starry eyed late to the game sheep will understand. It will be like sifting thru the tech rubble of 2001-2004 and finding good businesses with growth potential. Right now this sector is like May 2000. Fallout started, probably long way down to go.
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Apr 21, 2004
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So TA shows a reverse head and shoulder pattern now? To the moon and maybe Saturn.
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Sep 4, 2005
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alanbrenton wrote: So TA shows a reverse head and shoulder pattern now? To the moon and maybe Saturn.
it would change the tears of money loss into the tears of missing out hahaha
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Nov 6, 2015
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alanbrenton wrote: So TA shows a reverse head and shoulder pattern now? To the moon and maybe Saturn.
I see a triangle breakdown followed by a test of 200DMA. Bullish as long as ~7K holds, good R/R IMO.

I don't see an IHS pattern, what timeframe are you looking at?
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Deal Expert
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Apr 21, 2004
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Someone was talking about 7900 late last year and today we hit that and bounced right back up.

I don't do TA but that was a good bounce.

It shows people can still make money but it's a much riskier trade now.
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Oct 29, 2015
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Can anyone link me some good beginner resources to learn more about trading cryptos?
:D
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Nov 6, 2015
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DecayHeat wrote: Can anyone link me some good beginner resources to learn more about trading cryptos?
You need to learn general technical analysis and trading techniques, as there are no crypto-specific methods that I know of.

Check out https://www.tradingwithrayner.com/

He has a couple of good PDF guides for beginners. Don't pay or sign up for anything, just put in your email to get the guides.

Hope it helps and good luck with your trading!

I have no affiliation with that site.
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Aug 23, 2004
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alanbrenton wrote: Someone was talking about 7900 late last year and today we hit that and bounced right back up.

I don't do TA but that was a good bounce.

It shows people can still make money but it's a much riskier trade now.
Trend is down, bouncing at support 1st time is normal, if the trend continues...8,000, 5,000 and possible lower to 2,000 if the bears will it of course there will be ups and downs in between but the trend is your friend. Chart similar to crude oil from all time high crashing down if you ask me. I may be dead wrong, don't take my word for it, do your own DD.
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Oct 14, 2015
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Local bitcoin mine could be North America’s largest (Drumheller AB)
The new Bitfury development at the top of the North Hill in Starland County is a crucial component in creating what is believed to be North America’s largest bitcoin mining data centre.
...
Bitfury is a world leader in this technology and will provide Hut 8 a bitcoin mining solution that includes a proprietary mix of hardware software, installation and operation services, according to a press release. Bitfury is the largest bitcoin miner outside of China and holds about 11 per cent of the technology’s market share.
...
One of the major components for the Bitfury installation is a readily available affordable source of power. Right now Alberta offers this. However, with simple sea-can construction, they are mobile and able to chase low utility rates.
Image
https://www.hut8mining.com/
Pi$$ing away millions.
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Jun 21, 2008
2995 posts
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apvm wrote: Trend is down, bouncing at support 1st time is normal, if the trend continues...8,000, 5,000 and possible lower to 2,000 if the bears will it of course there will be ups and downs in between but the trend is your friend. Chart similar to crude oil from all time high crashing down if you ask me. I may be dead wrong, don't take my word for it, do your own DD.
Face Screaming In Fear 2000????????
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Dec 23, 2010
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Moon
You know what is another name for HODLER? Bag holder. It may be a Gucci bag right now but hold log enough and it may just become a plastic bag. This whole crypto circus is coming to a close I feel.
Member
Jun 30, 2009
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Applesmack wrote: You know what is another name for HODLER? Bag holder. It may be a Gucci bag right now but hold log enough and it may just become a plastic bag. This whole crypto circus is coming to a close I feel.
HODL! Wait what? Lol. J/k

Really the overall market isn't going well. Cryptos, equities etc. I think people need to decide their risk level and trade accordingly.
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Oct 23, 2003
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cartfan123 wrote: I could care less if a bunch of late to the party crypto buyers lose money. Same as I didn't care when they made money.

If these things fall substantially more (like another 75%) then I'll start doing some work to see which of the survivors make sense.

What is clear the now known VOLATILITY of these cryptos relative to fiat currencies is something that the starry eyed late to the game sheep will understand. It will be like sifting thru the tech rubble of 2001-2004 and finding good businesses with growth potential. Right now this sector is like May 2000. Fallout started, probably long way down to go.
there's been 6x "May 2000" since Bitcoin's inception with plenty more to come.
Deal Fanatic
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Oct 23, 2003
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FrancisBacon wrote: I predict that we're going to blow past $8000 in short order.

Paper gold stocks have an inherent value, unlike Bitcoin: they are a claim on the future dividends and assets of physical companies.

Gold is scare because there is no other similar physical element and no other element can be invented. More gold can be discovered, but not 5x or 10x.

Bitcoin is not scarce. It can be forked. The code can be modified if 50%+1 of miners agree. Other rival cryptocurrencies can be created.
"Paper gold stocks have an inherent value, unlike Bitcoin: they are a claim on the future dividends and assets of physical companies."

sorry, I laughed out loud at that. Love the hypocrisy.
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May 12, 2014
3487 posts
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Montreal
Buggy166 wrote: "Paper gold stocks have an inherent value, unlike Bitcoin: they are a claim on the future dividends and assets of physical companies."

sorry, I laughed out loud at that. Love the hypocrisy.
I don't think you understand what the word means.

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