Like, pretty much every significant mind and soul from the 60s and 70s sat across from him and just fuckin riffed.
Fucking love me some Cavette.
Printable View
Like, pretty much every significant mind and soul from the 60s and 70s sat across from him and just fuckin riffed.
Fucking love me some Cavette.
https://www.reuters.com/article/uk-u...-idUSKBN1F001Q
US senate scheduled to go utterly ham on btc next month.
Enjoy those capital gains taxes.
I don't think the Koreans are going to ban Bitcoin trading. They want to ban anonymous trading accounts which are available on a lot of exchanges.
Sadly, you have 0 capital gains when it comes to crypto. Might explain why you are so bitter.Quote:
Originally Posted by sonatine
also not sure you understand what 'bitter' means, but im sure youre totally not emotionally wrecked by your beanie babies deflating so i cant imagine what your excuse is.
oh and WORLDSTAR
:lol2:lol2:lol2
Bitcoin seems to bounce back every time it dips in to the 11-13k range. Then it moves back up to over 17k, then it falls again, and this pattern keeps continuing.
At some point it is going to break out and either breach 20k (with something over 20k becoming the new normal), or we will see a spectacular crash and a lot of people are going to be very upset.
Bitcoin itself does not have a long term future. It is no longer practical for making purchases (except for large ones, but those are uncommon online), so right now it's just something you collect and hope appreciates.
Cryptocurrency may have a real future, but it won't be bitcoin. As I've said before, if you don't have an exit strategy, you will get crushed.
With that said, there may be some money to be made by buying it when it appears to be rising again from one of these 11-13k lows, and then selling when it breaks 16.
But one of these times, that trick isn't going to work.
great analysis druff
lolQuote:
Originally Posted by Krypt
oh, you know, just the oracle of omaha
Quote:
But I know this: If I could buy a five year put on every one of the cryptocurrencies, I’d be glad to do it but I would never short a dime’s worth.
We are taught that if a stock or commodity consolidates in an uptrend (of course we are on the daily and weekly) then the odds are it will continue the trend.Quote:
Originally Posted by Dan Druff
You describe a channel (trading range) too. Often, that range continues to get narrower and narrower (forms a flag or pennant - like your worthless Dodger division pennants) and it breaks out one way or another.
Again, if the overall trend is up then odds are it will break to the upside.
Of course, this market ain’t real but reading tea leaves is fun.
The market is so fake that I can sell and have the money in my back account in 2 days.
Easy with the passive aggressive insults please if you have a problem with me or what I say then say it don't pussy foot around like a pussy
You actually saved me a ton with your $60,000 BTC call. Don't care if the digital beanie babies go to $0. I pocketed enough to make rich Jew Druff jealous.Quote:
Originally Posted by sonatine
If you mean me, it’s all love and a random green rep to counter OSA. Too much history bd.Quote:
Originally Posted by big dick
If I tweaked you I didn’t intend to. I got a bad attitude but I’m not a particularly funny guy though I try
Np I just took a few things you said the wrong way I guess I apologize
Rather pay Capital Gains taxes then ordinary income tax on gains as regular income.. Difference is huge between the two..Quote:
Originally Posted by sonatine
This last big run-up displays classic head and shoulders.Quote:
Originally Posted by SanlmarWe are taught that if a stock or commodity consolidates in an uptrend (of course we are on the daily and weekly) then the odds are it will continue the trend.Quote:
Originally Posted by Dan Druff
You describe a channel (trading range) too. Often, that range continues to get narrower and narrower (forms a flag or pennant - like your worthless Dodger division pennants) and it breaks out one way or another.
Again, if the overall trend is up then odds are it will break to the upside.
Of course, this market ain’t real but reading tea leaves is fun.
Many folks that know a lot more then me say this is perhaps the strongest indicator of predicting the future. So according to the charts we should see downward pressure.
Of course being BTC it's hard to look at this with any confidence.
I think the danger signs right now are if we see another big run-up.
How would you define long term?Quote:
Originally Posted by Dan Druff
As far as it being something you collect and hope appreciates could that not be considered digital gold?
Lightning network could help alleviate a lot of the issues that are currently giving bitcoin a black eye.
Not sure is so practical for large purchases given the huge price swings. Buy enough bitcoin or the purchase, goes down 10-20% in a few days, can't complete purchase.Quote:
Originally Posted by chinamaniacHow would you define long term?Quote:
Originally Posted by Dan Druff
As far as it being something you collect and hope appreciates could that not be considered digital gold?
Lightning network could help alleviate a lot of the issues that are currently giving bitcoin a black eye.
not to mention its donkdown, lets keep that on the radar.
If people don't have an exit strategy, they will always think the next huge gain is around the corner, and they should never sell.Quote:
Originally Posted by SanlmarWe are taught that if a stock or commodity consolidates in an uptrend (of course we are on the daily and weekly) then the odds are it will continue the trend.Quote:
Originally Posted by Dan Druff
You describe a channel (trading range) too. Often, that range continues to get narrower and narrower (forms a flag or pennant - like your worthless Dodger division pennants) and it breaks out one way or another.
Again, if the overall trend is up then odds are it will break to the upside.
Of course, this market ain’t real but reading tea leaves is fun.
After a crash, they will think a recovery is around the corner, and never sell.
This would be fine if bitcoin had a decent chance of always holding value, such as real estate. Even when real estate values crash, there's always a stopping point, and a recovery always occurs. For example, even after the devastating 2008 crashes, many areas are almost back up to the pre-2008 property values.
Bitcoin will eventually be worth very little. May take awhile for this to happen, but it will.
I don't fault the bitcoin investor who feels he can make money from it at the moment, but anyone planning a long-term or indefinite hold is going to be in for a shock.
I personally know some bitcoin millionaires -- poker players who were busto, ran up some bitcoin gambling, held it, and now are worth $2-7 million. Those are nice stories, but unfortunately these people are also diehard bitcoin believers, and thus will never sell. Their blind allegiance will result in only one ending.
Quote:
Originally Posted by Dan Druff
This is an incredibly coge point; the instincts that made a lot of people btc-paper-rich right now are the same instincts that are going to gut them.
Anyone who does not book some profits is a fool whether they are right or wrong in this scenario.Quote:
Originally Posted by Dan Druff
I know some people as well like you describe but they have all either diversified or sold some profits off.
Reminds me of a discussion I had with people last decade about neverwin.Quote:
Originally Posted by sonatineQuote:
Originally Posted by Dan Druff
This is an incredibly coge point; the instincts that made a lot of people btc-paper-rich right now are the same instincts that are going to gut them.
People asked me, "Why can't neverwin hold onto a bankroll? I think he could have a lot of money if he just displayed some responsibility. I've seen his fearless heads-up play and he just crushes people."
I replied, "What's good about neverwin is unfortunately what's bad about neverwin. The same fearless qualities which make him a great heads up player are also the same qualities which make him irresponsible."
I agree, but using the same logic they should have sold at 1k, 5k, 8k, 10k, 15k.Quote:
Originally Posted by sonatineQuote:
Originally Posted by Dan Druff
This is an incredibly coge point; the instincts that made a lot of people btc-paper-rich right now are the same instincts that are going to gut them.
I would hope anyone has sold at least half by now at these absurd prices.
CES 2018: Kodak soars on KodakCoin and Bitcoin mining plans
http://www.bbc.com/news/technology-42630136
https://ichef-1.bbci.co.uk/news/320/...93012e0767.jpg
This is getting ridiculous.
Eastman Kodak is an old, washed-up company.
They make money from really old patents and by being a patent troll.
They also still make cash from selling old film for cameras that old guys have that are 30 years old.
This is a scam.
Quote:
Originally Posted by simpdogI agree, but using the same logic they should have sold at 1k, 5k, 8k, 10k, 15k.Quote:
Originally Posted by sonatine
I would hope anyone has sold at least half by now at these absurd prices.
and it was based on exactly this simple truism that the Council determined bitcoins were donkdown.
Quote:
Originally Posted by TheXFactor
fun fact; the amount of energy used to mine bitcoins will exceed the aggregate electricity used by electric cars in the next year by a huge margin.
remember in 2000 when everytime a company announced an ecommerce expansion they got a 5% stock boost?
It's just like the dotcom era and housing flippers in the mid 2000s. The Fear of Missing Out is such an incredible pull, it distorts people. I fully remember in early 2000 I was freaking out because all my roll was already 'invested' and I had no access to any more cash. I even considered taking advances on credit cards, taking loans, etc...The mania of missing out is contagious. Thankfully the dotcom market began to implode before I did anything really catastrophic, but I knew plenty of people refinancing homes and taking out high interest loans because they could not resist becoming an overnight millionaire.Quote:
Originally Posted by Dan DruffReminds me of a discussion I had with people last decade about neverwin.Quote:
Originally Posted by sonatine
People asked me, "Why can't neverwin hold onto a bankroll? I think he could have a lot of money if he just displayed some responsibility. I've seen his fearless heads-up play and he just crushes people."
I replied, "What's good about neverwin is unfortunately what's bad about neverwin. The same fearless qualities which make him a great heads up player are also the same qualities which make him irresponsible."
I heard someone the other day at a restuarant talking about Bitcoin. It was at an IHOP and they were speaking in such vague generalities I knew they had no idea what they were talking about. One guy was making a compelling argument on opening up an online account in that you can buy pieces of bitcoin, he was already up 400%, blah blah blah. I turned around when I left and it was three construction workers, Nothing wrong with being a construction worker, but the guy pimping bitcoin was obviously putting every last penny he had in it.
Just like in the dotcom era where you heard the logic 'profits don't matter this is the new economy', you hear basically the same except new economy is replaced skillfully with new currency. Another term I like is 'early adopter'.
You try to explain a contrary view of crytpo to anyone who is an early adopter you get shut down immediately, just like you would telling someone a MLM is a scam who is knee deep, they won't hear it.
The easy money has been made. There is still money to be made but it is going to be made by the professionals. The amateurs are going to get slaughtered.Quote:
Originally Posted by tgullIt's just like the dotcom era and housing flippers in the mid 2000s. The Fear of Missing Out is such an incredible pull, it distorts people. I fully remember in early 2000 I was freaking out because all my roll was already 'invested' and I had no access to any more cash. I even considered taking advances on credit cards, taking loans, etc...The mania of missing out is contagious. Thankfully the dotcom market began to implode before I did anything really catastrophic, but I knew plenty of people refinancing homes and taking out high interest loans because they could not resist becoming an overnight millionaire.Quote:
Originally Posted by Dan Druff
I heard someone the other day at a restuarant talking about Bitcoin. It was at an IHOP and they were speaking in such vague generalities I knew they had no idea what they were talking about. One guy was making a compelling argument on opening up an online account in that you can buy pieces of bitcoin, he was already up 400%, blah blah blah. I turned around when I left and it was three construction workers, Nothing wrong with being a construction worker, but the guy pimping bitcoin was obviously putting every last penny he had in it.
Just like in the dotcom era where you heard the logic 'profits don't matter this is the new economy', you hear basically the same except new economy is replaced skillfully with new currency. Another term I like is 'early adopter'.
You try to explain a contrary view of crytpo to anyone who is an early adopter you get shut down immediately, just like you would telling someone a MLM is a scam who is knee deep, they won't hear it.
Did every .com company go bust? You guys really think paper money is gonna be used forever? Most things now a days are digital, why would money be any different?
95% of dotcoms went under.Quote:
Originally Posted by big dick
5% remained and most were purchased or absorbed before they imploded. The few that remain today had a history of making money like Priceline and Amazon. But they make money, are self sufficient and have projected earnings for many years.
If crypto is going to make it, its going to have earning power as an asset, because its already being universally dismissed as a currency. That I guess could change in a few years, but I doubt it. No government is going to want a currency they cannot trace to illegal activity or terrorism.
So then its exclusively an asset, and since it produces no value it cannot produce earnings. The only reason it's gone the way it has (which is up), is because the same reason dot com stocks went up in the 90s: people think its the next big thing and fear missing out. Once people realize its worthless its over.
This might explain it better from 17 years ago:
NEW YORK (CNNfn) - Call it the $1.755 trillion dot.com investing lesson.
It's hard to think of a publicly traded Internet company that is not down at least 75 percent from its 52-week high and that hasn't trimmed its expenses or laid off workers. While industry groups have always drifted in and out of favor on Wall Street, it's rare to see an industry evaporate as quickly and completely as Web stocks did.
CNNfn.com asked the market data and research firm Birinyi Associates of Westport, Conn., to calculate the market value of the 280 stocks in the Bloomberg US Internet Index at their respective 52-week highs and their current market value. The combined market values of the 280 stocks had fallen to $1.193 trillion currently from $2.948 trillion at their peak, a loss of $1.755 trillion, most of which occurred between March and September of this year.
Of the 280 stocks in the index, 79 are down 90 percent or more from their 52-week high. Another 72 are down 80-89 percent. Only five are down less than 5 percent.
Right, 5% are still active, and very profitable.The shit coins will fade, the top coins will remain.
remain donkdown, that is.
Time will tell but so far you been about as wrong as you could possibly be
I did not say 5% dot coms remained indefinitely. Most got eaten up and absorbed for pennies on the dollar. The very few made it, but because they had potential for huge earnings.Quote:
Originally Posted by big dick
Crypto has no value. Gold has value because it is a precious metal that is horded by countries because it has historical value going back 10,000 years and used for jewelry and like 3 billion wedding rings. Same with diamonds. A sequence or random numbers has no value to anyone, except FOMO.
If you want to argue it's going to replace paper money, that is LOL. No government is going to allow this to continue, it's only use if for illegal activity. Let me put it like this, until you can walk into Bank Of America with a flash drive of 10 bitcoins and walk out with a suitcase full of cash you got nothing as far as currency goes.
I have said this before, if you want to trade something with no value, go to a casino and start playing roulette. You'll have a better time and get comps and in a couple days its over one way or the other.
BD - look at ipay. Exactly what you need. Fair warning, it like everything else is at an all time high.Quote:
Originally Posted by big dick
Quote:
Originally Posted by big dick
and yet youre in this thread, looking for what exactly?
why is it that somehow, the people evangelizing bitcoin the hardest seem to be the ones with the saltiest tears right now?