Originally Posted by DonaldTrumpsHairPiece
Yeah, it's like you see btc hovering around $2450, and eth hovering at $335 as I post this, and it feels like donkdown, but you click the 1 month button and you realize btc is up $744 and eth is up $ 248 in the past month and you realize the absurdity of watching the daily swings. When they pump this shit, they don't fuck around
Yep, not a traditional market, usually big dips don't literally bounce back next day but with this stuff its wild so no need to panic and ignorance is bliss what do I know.
Honestly tomorrow will be interesting, I think a mixture of panic and profit taking is what's at play because guess what, the tech, coins, hope, love etc is all still there. Not like ETH put out a presser saying the founder is dead and no one wants their tech.
For christs sake take a call from an average listener
Ton of the poker players at the WSOP are long crypto. Bet you the cash games are going to be juicy all over town with 100's of them on tilt after losing 30-40% of their crypto bankroll in 72 hours.
the cnbc curse is alive...carry on you useless tv fucks...
So I cashed $21k to cover last night and am holding $28k position I left in ETH along with several BTC on top and singing along...
Disclaimer:
This post in no way constitutes a violation of the terms of this thread. The comments made here are for informational and entertainment purposes only.
Violently shaking out the weak hands is the healthiest thing for Bitcoin long term. These will be your new buyers on the next leg up. What you want to look for is a bounce. What happens after the retracement is the most telling. It all depends on your timeframe.
When things are frothiest - that makes great television. Being contrarian - not so much. Making the statement that this action is healthy is not in the script. Everyone loves slowing down and watching an auto accident. No one reports on what made that accident inevitable.
In the age of the interwebz there is absolutely no reason to have CNBC on all day. It used to be useful for breaking stuff. But everyone has a monitor dedicated to it all day. As useful as watching cat videos.
Cramer fucking kills it and is never held to scrutiny. Few viewers are aware he holds the patent on Teflon.
Cramer recommended 10 stocks to own for the future in late 1999 or early 2000. All 10 of them either went bankrupt or went down 90%+. He couldn't beat today's market and noone with a functioning brain should listen to him.Disclaimer:
This post in no way constitutes a violation of the terms of this thread. The comments made here are for informational and entertainment purposes only.
Violently shaking out the weak hands is the healthiest thing for Bitcoin long term. These will be your new buyers on the next leg up. What you want to look for is a bounce. What happens after the retracement is the most telling. It all depends on your timeframe.
When things are frothiest - that makes great television. Being contrarian - not so much. Making the statement that this action is healthy is not in the script. Everyone loves slowing down and watching an auto accident. No one reports on what made that accident inevitable.
In the age of the interwebz there is absolutely no reason to have CNBC on all day. It used to be useful for breaking stuff. But everyone has a monitor dedicated to it all day. As useful as watching cat videos.
Cramer fucking kills it and is never held to scrutiny. Few viewers are aware he holds the patent on Teflon.
THis is exactly why markup is so LOL but people are paying it.
I tried to buy a bunch of btc @ face 2 nights ago. Guy tried marking them up 3%. I said no. They crash 500 a piece and now he wants to sell @ face
hof
How much was he selling? People are willing to pay markup because they don't want to deal with the exchanges. There is some asshole in LA charging 20% markup on his 16 ATM's and he is busy from what I hear.
He had like 20k. Same thing another guy 25kHow much was he selling? People are willing to pay markup because they don't want to deal with the exchanges. There is some asshole in LA charging 20% markup on his 16 ATM's and he is busy from what I hear.
Fuck markup.
Play poker - cash out - 0 vig/ thread
Lol @ markup. Just because some morons pay markup im not. Was the same with those vintage Nintendos last year. People were charging double and triple. Gtfo
Markup for ease is understandable, Id pay it, I also wouldn't expect to be gaur. coin stays at or up after buying. If it went up $500 next day you look smart, works both ways, youre just frugal lol
In all markets/industry youve been paying a markup for ease, deal with it
Its not about being frugal. Im just not paying a markup when i can get it from sportsbooks and pokersites via cashouts for 0 markup.Markup for ease is understandable, Id pay it, I also wouldn't expect to be gaur. coin stays at or up after buying. If it went up $500 next day you look smart, works both ways, youre just frugal lol
In all markets/industry youve been paying a markup for ease, deal with it
I predict within 24-48hrs I will be singing.... someone some where just dumped nearly 100M into BTC and ETH the last couple hours if you believe the days trading figures. Apparently Korea is driving about 60% of the UP buying. I personally know no Koreans but love them.
Last edited by DonaldTrumpsHairPiece; 06-15-2017 at 12:59 PM.
Uhhhh guys?
http://www.zerohedge.com/news/2017-0...sh-and-bitcoin
(naturally this has resulted in value surging)
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
Can't hurt but short answer is it is not. It is Korea going nuts atm and besides you, me and tin foilers who even read this today?
Again, its a plus but not behind the surge the last few hours, imo.
There was a panic, profit taking couple days now as price rose a new panic on missing out and surge in Koreans buying in, pretty straight forward, fundamentally nothing about the crypto market has changed to drive it down or up besides these things. Panic works both ways, fear of missing out is powerful as well.
Markets are just starting to turn green for alt coins now so BTC/ETH not far behind, everything got hammered the last 24 hrs.
btw Henry I see you lurking, you buy into anything yet?
http://www.marketwatch.com/story/sta...5?link=sfmw_tw
If you’ve ever wondered what “cryptocurrencies” such as bitcoin, litecoin and ethereum are for, ask one of their legions of techie-libertarian fans.
And it’s dollars to dogecoins (yet another one) that the conversation will go something like this:
You: So what’s the purpose of bitcoin?
Fan: The technology is absolutely amazing!
You: Yes, but what’s it for?
Fan: Really, the “blockchain” technology is a total masterpiece, way ahead of its time!
You: Yes, yes, I understand that. But what is it actually for?
Fan: You don’t understand! It’s a completely decentralized money system! Totally revolutionary!
You: Honestly, does it have a purpose? Any purpose at all?
Fan: It’s the wave of the future!
And on it will go.
$100 billion market
Cryptocurrencies, or cyber currencies, which have been in a massive financial mania until their sudden sell-off this week, have two actual uses: online gambling and money laundering. Neither is the heart of a major business model. But that’s it.
And these, preposterously, are the fundamentals behind a mania that has driven these currencies up 30-fold, so that today in aggregate the market for them is a staggering $100 billion.
None of the defenders’ other arguments stack up.
Online currencies are hardly a “store of value” when they have fallen about 30% in a week.
Are they really protections against the ravages of “inflation” and “monetary debasement” imposed by wicked governments? If so, how come people who keep their money in bitcoin and ethereum and the like have experienced Weimar Republic levels of consumer price inflation just this week?
That is, after all, what it means when the price of your “currency” plunges. Bitcoins aren’t just down 30% against the dollar in the past week. They’re down 30% against the potato, the sack of rice, the gallon of gasoline and the new car.
Pure speculation
Admittedly, before this the price of these cyber currencies had skyrocketed. Those who got in at the start of the year have turned $1 into $30. But this looks more like a speculation than a currency. And what will tomorrow bring? I have a pretty good idea how many potatoes I can buy with my dollars next week. Bitcoins? Good luck with that.
You notice, incidentally, that these bitcoiners continue to measure the market price of their beloved new currencies in terms of, er, old-fashioned U.S. dollars.
Cyber currencies may make online purchasing and international money transfers marginally more efficient in theory, but hardly in practice. Would you risk moving your money from dollars into bitcoins just to save a few percent in transaction fees? You’ve seen that wiped out many times over this week just in price fluctuations.
Competition from all sides
Bitcoin, the grandaddy of them all, might at one point have claimed value as a unique entity. If it had a monopoly of the people who wanted to use a cryptocurrency so they could play online poker or finance international crime, it had some worth. Yet in the past few years, multiple competitors have erupted. There are now 25 with individual market values above $100 million, several above $1 billion. Yet all the bitcoins in the world are still “valued” at around $40 billion.
Fast-growing rival ethereum was worth bupkis at the start of the year. Today it’s valued at $31 billion, or almost 10 times as much as the company ESRT, -0.61% that owns the Empire State Building.
Preposterous? You make the call.
I'm in a good mood
@NaturalBornHustler...
good post...I mean at this point I'm "scared" to cash out from ignition to bitcoin...I had them actually email me and say basically, 'why do you want a check, cash out via bitcoin.'
like in this environment i'm gonna cashout to something that can drop 5-10% by time I get it from them into a wallet and into actual USD...I mean the chances of that happening aren't huge, but why the hell would I take the risk to lose $150-300 just based on the wild fluctuations of BTC...
ETH just went green again, will it see 10 points tonight?
Any way personally it is all a play, I do it like many for the green USD, tech, use, future, don't care.
Its a vehicle I will ride until I don't, hopefully on the trip I cash, that simple. Debating practicality etc is moot to me, make that money and be happy.
The only time that stuff matters is when I am looking to buy/sell.
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