Can you do a charge-back with a cash advance?Quote:
Originally Posted by sonatine
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Can you do a charge-back with a cash advance?Quote:
Originally Posted by sonatine
You spend your entire life bashing Bitcoin. I guess that's what happens when you are morbidly obese and can't leave the bedroom.Quote:
Originally Posted by sonatine
Days of HODLing are long gone. Only professional traders can make money in this environment. The stock market has a 2 month lag of Bitcoin, so expect to see a big selloff soon. Maybe after the Superbowl. Gonna be funny seeing sonatines 401k crater.Quote:
Originally Posted by Sanlmar
I am up at 3:30am screening charts. I feel so anxious to nail something to the crossQuote:
Originally Posted by snake_in_the_ass
I keep flipping back to AMZN chart since birth. The definition of parabolic. You could give me a hundred more stocks.
Lotta folks would dismiss your correlation but BTC is a proxy for the appetite for risk (to put it politely). Mood changes
Just trying to commit to a respect that shit can be wronger longer .... just like BTC.
https://www.reuters.com/article/us-m...-idUSKBN1FL406
This made no sense to me until I got to the last sentence;
Like they are literally charging the maximum for the absolute bare minimum of coverage.Quote:
"This whole space is maturing and growing,” he said. “If we don’t embrace it now, it’s a missed opportunity for insurers.”
That's how badly wounded the cryptocoin scam has become; insurance agencies are plucking the diseased flesh off its living bones.
^^^^
Breathtaking. Karpeles steals millions and collects an insurance payout.
Except some real sharp bloke will be retained by the insurer to do the sort of forensics that really hasn’t been conducted by anyone except for sport.
I wish I could short BNB , binance tokens. They still allow anonymous accounts and I think that is going to get shutdown soon. No ID, no gamble. That will cause BNB to get sliced in half.
Fun fact; they only insure coins in cold storage, and only up to $25m USD in value.Quote:
Originally Posted by Sanlmar
Imagine how few scenarios there are where that solves anything.
Also strange is how they claim to have a hard 25m USD ceiling for coverage but Coinbase claims all coins are insured...
Back down to the 9500s right now.
I kinda thought this would happen after the "recovery" from the last crash to 9500 took it to a whopping 10300, which was pretty damn weak.
It was like, people were willing to keep buying in order to push it back over the 10k part, but shortly after that were saying, "Ahh... yeah... we're good now. Not much faith beyond that."
From observing bitcoin's patterns, it seems that you can tell how much a recovery will stick by how confident it seems. If a crash is followed by a weak recovery, especially after previous crashes had strong/semi-strong recoveries, I would say it's time to brace for another crash.
It seems that 9500 is another resistance point, but I think badguy23 is right that we're going to see a low of 8900 in a fairly short time (and then probably another pop back up).
In less than 2 months, bitcoin's value has halved. That's honestly pretty ugly.
Quote:
Originally Posted by sonatineFun fact; they only insure coins in cold storage, and only up to $25m USD in value.Quote:
Originally Posted by Sanlmar
Imagine how few scenarios there are where that solves anything.
Also strange is how they claim to have a hard 25m USD ceiling for coverage but Coinbase claims all coins are insured...
So Coinbase is claiming the have 98% of the coin offline.Quote:
Coinbase, a leading cryptocurrency exchange available in 32 countries, says on its website it holds less than 2 percent of customer funds online and that those funds are insured.
Lloyd’s of London, the world’s largest insurance marketplace, was providing insurance to the exchange, according to a person familiar with the matter. Reuters could not determine the terms or the scope of the coverage and a Lloyd’s spokesman declined to discuss Coinbase.
Where offline? Hopefully somewhere secure where fire, theft, or natural disaster can't destroy them.
So with 2% of the coin online, and those being insured, then a $25m policy is fine if Coinbase is holding $1.25b worth of coin or less.
Of course, there's no telling what, if anything, will happen if something results in the theft of the offline-stored coin. It's possible they can pull a Karpeles and get away with it.
Well, down to the low 9400s.
Maybe badguy can buy the $8900 coin as early as this morning.
He'll be eatin' good in the residential neighborhood.
Tell me what you think of this theory.
I'm wondering if altcoins are dragging down bitcoin, which in turn are dragging down the altcoins.
For a long time, bitcoin was considered cool.
Now many of its earliest proponents are abandoning it for this-or-that altcoin.
As it stands now, bitcoin is not so cool anymore, but altcoins are really cool. Bitcoin is more entering the domain of the public and the noobs.
However, most altcoins are being purchased with bitcoin, so they are unfortunately tied together. (I realize that fiat currency can increasingly be used to purchase more mainstream altcoins, but unless I'm incorrect, I believe that most of these altcoins are still being bought with bitcoin.)
So when bitcoin crashes, altcoins naturally go down, as well, as they are still very naturally tied together.
Yet at the same time, the alts themselves have eroded bitcoin's coolness factor, and thus they are slowly falling out of favor, and declining in value.
So unless one of the alts breaks our and stands well enough on its own, I wonder if this vicious cycle will drag down both bitcoin and altcoins.
Remember that public enthusiasm in bitcoin is what drove the price from $800 in January 2017 to $19k that same year. The reverse of that can put it right back where it was.
Ethereum is standing by itself at the moment.Quote:
Originally Posted by Dan Druff
For quite a while those who were holding or making nice profits from BTC were buying Litecoin.
I'm not 100% sure why but I feel it was an attempt to hedge their exposure in BTC without totally getting out.
LTC is a far superior model for an actual currency.
Now everyone wants ETH as this is an even better form of LTC that would be much easier to implement as a viable currency.
I think all cryptocoins are fundamentally linked to BTC.
BTC has propped up other crypto coins, and the better cryptocoins have propped up BTC on occasion.
I believe the main thing that is putting pressure on BTC right now is government intervention, and especially banks.
In the last couple of months the banking sector is making determined efforts to undermine BTC, and it appears to be coordinated.
If you look at the last month BTC is down 50% and ETH is up 50% bucking the trend.
Agree with many of these points. However, an even bigger way of how the Alt-coins are hurting BTC imho is that Bitcoin supporters would constantly point out that there was a limit (21 million) in the amount of BTC that could be mined. We have collectively mined around 80% of those. Which, if BTC were the only game in town, would at least continue to help its reputation.Quote:
Originally Posted by Dan Druff
But look this chart which shows BTC's market share vis-a-vis other "fake made out of thin air currencies":
Bitcoin among all cryptocurrencies has decreased to all time lows, reaching 34.97 percent on Tuesday.
So, my friends, that become the Pandora's box for bitcoin. It's "specialness" vs. fiat, in that in cannot just be created out of thin air - while discretely true - is not true at all in the sense that there are SUBSTITUTES for BTC that can be created out of thin air. This is economics 101: If the price of something goes too high, and substitutes exist, the market will bring the price of the original high priced item down.
Even worse then, is that the product here is Long Numbers only, not real products. There is no real utility to them except for sports bets and getting money out of Venezuela. And if Bitcoin's (or for that matter, the entire universe of Alt-coins') "specialness" in the eyes of "investors" cannot be maintained due to the open source nature the entrie world of alt-coins, that makes it possible for myself, you and Tito Jackson to invent our own coins...well...you can see how this all ends, and it doesn't take a genius.
Love the fact that Druff correctly surmised that BTC aren't that cool or "special" to most people anymore...he's saying that substitutes are now palatable to a huge degree, and that makes all crypto as open-ended as fiat. At least fiat's supply is somewhat controllable.
For Sonatine
Quote:
Originally Posted by snake_in_the_ass
Quote:
Originally Posted by snake_in_the_ass
MAJOR BLOODBATH
god this is a great thread to wake up to.
The 10k support level seems to have been somewhat broken. As if TA applies to fictitious concepts.
Quote:
Originally Posted by Dan Druff
hit 8900 and just kept right on trucking lol.
Quote:
Originally Posted by snake_in_the_ass
So it hit 8820 and people were like, "Hey look, a sub-9000 bitcoin" and they hit the buy button.
If we don't see it back at 10k soon, we are looking at a new established rate in the 4 figures, and probably a prolonged march downward.
Forum Wars also might be correct that the cap on coins produced is mostly meaningless if new coins just replace it.
Starting to remind me of the dot com bust of early 01.
Quote:
Originally Posted by Dan Druff
honestly we see this every time it passes a psychological barrier tho. automated buy orders kick in, the price upticks, all the collar poppers say MOON IN 3 .. 2.. and the price stagnates then drops to a new low.
The more I think of it, the more this really does resemble the dot com (web) situation of 01.
Both invoked a seemingly life changing concept invented about 8 years prior.
Both were supposed to change the way commerce worked forever.
Both took on insane value when the public got excited.
Both had copycats spring out of nowhere which were supposed to be the new ground floor, and also became overvalued.
Both had far less practical use at the time than their valuation indicated.
One saw a horrendous crash at the beginning of calendar year #9, which damaged the economy as a whole, and only years later did the true practical value become clear.
The other....? Well, we might be seeing it.
Quote:
Originally Posted by Dan Druff
out of rep but interesting point.
Or this was like the beanie baby boom which ended 2 months before the dot com stocks crashed. Is it a coincidence the stock market has been going up for 8 straight years? Stock crash is coming next. Get ready Sonatine and Krypt. And unlike you guys, I will be betting on it.Quote:
Originally Posted by Dan Druff
Fuck off you dork
Persians are the n-words of the Middle East. Keep making forecasts with no money in play. That's what n-words do.Quote:
Originally Posted by Krypt
I will be buying more
Quote:
Originally Posted by big dick
im rooting for you but please dont go full estrogen at me when i kermitalanche during the inevitable plummets.
And we have these price/volume charts painting interesting pictures.
Chart 1 (shows the quick beginning of the latest drop from 9,900K down)
Someone clearly ran for the exit and smashed the guys who were trying to keep BTC at its then 9,900 floor couldn't withstand the crush of this force.
The current chart showing the most recent 6 hours...
Volume is still high. Perhaps it's abating a bit. If it does, you'll see a small to medium short term rally...
Again, VOLUME is the pusher. And we can see from the way it happened that someone or a group of people were trying to get out at all costs.
I can only imagine how the whole bitcoin thing has been torturing druff knowing he missed the boat to an easy few million.
You spend days obsessing over a $100 or 2 in baseball tickets I can only imagine how bad this is tormenting you I grt it causes you to lose sleep.
Don;t give me some bullshit either you and I both know it's true. You want bitcoin to tumble out of pure greed and jealousy and the fact that you fucked up and didn't buy or hold when it was cheap and it's driving you insane and the only way you will feel any comfort is if bitcoin goes to zero
which it won't so get ready for more sleepless nights.
MOST of the people on this site, even with meager "investing" bankrolls, missed out on a few million in easy profits. But seriously, in 2010/2011, I think most level headed people had no idea that enough time had passed since the .dot com bubble days to know we were standing on a ground floor opportunity to invest in LONG NUMBERS that people would literally be clamoring to buy up for thousands of dollars from you some day.Quote:
Originally Posted by big dick
Quote:
Originally Posted by big dick
Then why do we only see these posts in this thread when btc faceplants?
Yes. And he couldn't take it that weed smoker no job Micon was richer than him. Same reason why Krypt and Sonatine want it to go down. They were too smart to get duped into buying digital beanie babies.Quote:
Originally Posted by big dick
Hey Krypt, if you want to dig up old posts...why not dig up the original post of this thread. The one where Sonatine said Bitcoin was donkdown at $200.
The bulk of the money was made in the past 18 months. Still nobody wanted to pull the trigger. I'm talking about LTC, ETC, and the alt coins. They had unbelievable runs.Quote:
Originally Posted by Forum WarsMOST of the people on this site, even with meager "investing" bankrolls, missed out on a few million in easy profits. But seriously, in 2010/2011, I think most level headed people had no idea that enough time had passed since the .dot com bubble days to know we were standing on a ground floor opportunity to invest in LONG NUMBERS that people would literally be clamoring to buy up for thousands of dollars from you some day.Quote:
Originally Posted by big dick
The 3 musketeers jerking each other off again means another rally is coming. 10-20% pop across the board.
http://www.bbc.com/news/technology-42892380
Samsung is focusing on firing up ASIC chips specifically for mining.
Thats some mighty fine timing, Samsung.
It could be. But these are still just LONG NUMBERS. Semi-scarce LONG NUMBERS within their own series, but still just LONG NUMBERS.Quote:
Originally Posted by snake_in_the_ass