Quote:
Originally Posted by snake_in_the_ass
Have some class. DonaldTrumpsHairPiece has a big bet and has gone dark. No bashing until his 2-3 month trade is done.Quote:
Originally Posted by sonatine
god that post of his broke my heart.
Printable View
Quote:
Originally Posted by snake_in_the_assHave some class. DonaldTrumpsHairPiece has a big bet and has gone dark. No bashing until his 2-3 month trade is done.Quote:
Originally Posted by sonatine
god that post of his broke my heart.
Also to expand on this drop in price in BTC another reason why I feel this is not the public for the most part is because if you just look on Coinmarketcap this entire year the entire board is either dead red or dead green.
The public is not controlling the board like that. There are major groups of people who are loading 10s and 100s of millions of dollars onto these exchanges and pumping and dumping the shit out of a lot of these coins.
I closed my position, 5K winner off one future in one day. Easy $$$.
I'll reopen one next week since I won't be my desk all weekend.
Can you expand on your thoughts here? I am not following your point.Quote:
Originally Posted by chinamaniac
Mind telling me how you did that monster j ? In detail please cus tbh idk shit about it but would love to learn.thanks
My point is every currency graph here for about the past 30-40 days looks more or less EXACTLY the same. They all move up and down at the same time.Quote:
Originally Posted by monsterjCan you expand on your thoughts here? I am not following your point.Quote:
Originally Posted by chinamaniac
https://coinmarketcap.com/
I just don't think the price of BTC is going down because the public is done with it.
It is something bigger on a larger scale. I'm not exactly sure how much buying and selling it takes to move the price on this stuff but the fact that they are all moving more or less at the same rate up and down etc.. makes me believe that joe shmo public is not the reason Bitcoin is going down.
You're not a fan of the rich and powerful leveraging their existing wealth to further prey on the weak majority? It sounds like you have a philosophical objection to capitalism.Quote:
Originally Posted by chinamaniac
And I'm no crypto analyst, but I'm pretty sure that the reason all of those graphs look the same is because they all follow BTC.
Where did I ever say I was not a fan of this?Quote:
Originally Posted by DirtyBYou're not a fan of the rich and powerful leveraging their existing wealth to further prey on the weak majority? It sounds like you have a philosophical objection to capitalism.Quote:
Originally Posted by chinamaniac
And I'm no crypto analyst, but I'm pretty sure that the reason all of those graphs look the same is because they all follow BTC.
And if I ever did say this I would be a hypocrite because I prey on the weak majority almost every day
And What does they all follow bitcoin mean?
So you're a member of one of these "major groups" you describe so mysteriously?Quote:
Originally Posted by chinamaniacWhere did I ever say I was not a fan of this?Quote:
Originally Posted by DirtyB
And if I ever did say this I would be a hypocrite because I prey on the weak majority almost every day
No, I play poker and gamble a lot and prey on the weakQuote:
Originally Posted by DirtyBSo you're a member of one of these "major groups" you describe so mysteriously?Quote:
Originally Posted by chinamaniac
Oh. That's a much fairer fight.Quote:
Originally Posted by chinamaniacNo, I play poker and gamble a lot and prey on the weakQuote:
Originally Posted by DirtyB
actual footage of bitcoin cash prices in the last week:
https://www.youtube.com/watch?v=OOr7Xjjf0KE
Open a brokerage account that can trade futures. I think you need 25K in assets or cash loaded into your account, maybe more I am not sure exactly. I use Interactive Brokers.Quote:
Originally Posted by big dick
1 future = 5 bit coin.
I sold one @ 9600 and paid 8600 on one to close my position. $1000 * 5 bit coin = 5K.
These type of products are usually only for professionals, I had some very concrete stop losses so I don't go broke naked selling like this. I am no longer in the industry, but traded at a trading firm for many years. Good Luck!
Joe Schmo is almost never the reason any financial markets move, one big swinger can buy entire books and move the market more than 10000 small timers. Reason being is smaller timers all don't do the same thing, some buy some sell, and for the most part they cancel each other out and don't move shit.Quote:
Originally Posted by chinamaniacMy point is every currency graph here for about the past 30-40 days looks more or less EXACTLY the same. They all move up and down at the same time.Quote:
Originally Posted by monsterj
https://coinmarketcap.com/
I just don't think the price of BTC is going down because the public is done with it.
It is something bigger on a larger scale. I'm not exactly sure how much buying and selling it takes to move the price on this stuff but the fact that they are all moving more or less at the same rate up and down etc.. makes me believe that joe shmo public is not the reason Bitcoin is going down.
Look at almost every major stock, almost all are 80% or more institutionally owned.
TD Ameritrade also has it, just checked and my account has that availability.Quote:
Originally Posted by monsterjOpen a brokerage account that can trade futures. I think you need 25K in assets or cash loaded into your account, maybe more I am not sure exactly. I use Interactive Brokers.Quote:
Originally Posted by big dick
1 future = 5 bit coin.
I sold one @ 9600 and paid 8600 on one to close my position. $1000 * 5 bit coin = 5K.
These type of products are usually only for professionals, I had some very concrete stop losses so I don't go broke naked selling like this. I am no longer in the industry, but traded at a trading firm for many years. Good Luck!
you prop trade before monsterj?
Congrats. But according to Sonatine, bitcoin cannot be traded for profit. Looks like he was proven wrong again.Quote:
Originally Posted by monsterj
Looks like it's going to hang in the 8000-8900 range for a bit.
But that's a pretty bad medium-term prognosis, because after the crash down to 7600, it rallied up to 9k, but immediately fell from there pretty much the second it touched that point.
There have been some mini-crashes and mini-rallies since, but it never gets to 9k.
The fact that 9k -- just a few days ago considered a bottom resistance point -- is now a strong top resistance point -- is not good.
I think we are headed for the 7000-7900 range in not too long, where the same pattern may follow.
Since I might be sleeping or unavailable during the inevitable next crash, please save this, and play it as mood music while it occurs.
https://www.youtube.com/watch?v=h0Hd3uWKFKY
You say this because of what?Quote:
Originally Posted by Dan Druff
We really don't have a strong pattern going here at the moment. All of these so called expert nerds who have sit there watching btc every waking moment for the past 6+ years can't tell us what will happen, nor can you. All of us can make guesses and I have done plenty myself but right now it's insanely hard to predict.
With anything people can get burned but it seems like their is some money to be made doing fast shorts here such as buying at 7.5k if it dips to that and getting out at 8.5k, which could happen in a few hours or days netting like a 12% return on something that has withheld the test of time no matter how much many of us thought it would be a joke.
You could hold on longer here too but creating a sell point isn't a bad idea then reinvesting working with profits to freeroll what happens in the future as plenty of investors have done over the years.
Just like the stock market which had it's worst day in a long ass time today you take the risk in crypto but it's no different then medium to higher risk stocks that a lot of people will put money in to so any person who does it has to be aware of what could happen and for those who put their entire life savings/401ks all into crypto well they are idiots plain and simple.
btw clearly the range you say isn't too far off where btc is currently so it very well could happen but my point is right now it's hard to predict.
Already above 9,000. Trying to predict this based on your feeling or perception is a fool's errand.Quote:
Originally Posted by Dan Druff
Quote:
Originally Posted by SheesfacedAlready above 9,000. Trying to predict this based on your feeling or perception is a fool's errand.Quote:
Originally Posted by Dan Druff
Fair, but what are you using to predict it then?
Yeah fair question but I'm not. I'm just an interested observer. Have several good friends invested.Quote:
Originally Posted by TellafriendQuote:
Originally Posted by Sheesfaced
Fair, but what are you using to predict it then?
I think crypto is a house of cards that's all going to come crashing down. There may be a few long term winners like Amazon during tech bubble. I think blockhain is legit and very intriguing. I have a high personal risk tolerance but also have a family and more to lose than I did 10 years ago. Im considering getting exposure through a blockchain ETF like BLOK. Not as much upside but still can have a little skin in the game.
Don't get me wrong I still think there's money to be made in crypto; hell anything this volatile has ample money making opportunity. I have no idea when the whole charade will actually go donkdown and don't pretend too.
I think crypto has a disproportionate number of millennials and poker players because millenials are too young to have experienced a true bubble and poker players are by and large lazy and look for the easy way to make a buck. I say that as one who used to make a living playing poker. And of course not all poker players fit this stereotype.
Given my views on crypto long term I'd probably be all about trying to make short term money if I had the time to devote to it. But my job and family don't allow me to be able to pay as much attention as I'd feel I'd need to "trade it" with the amount of volatility it has.
Anyways way more info than you asked. But it makes me cringe when I see Druff chime in with a prediction after he's been wrong so many times on bitcoin. At least when Sanimar or MonsterJ etc chime in they have real world trading experience to draw from not just an opinion based on their perception drawn from a small sample size.
LegalizeMeth: for giving a guy shit for expressing his opinion on a hot topic on his own website
He's giving his shitty and uninformed opinion based on jealousy and spite and deserves to be given shit.
Has anyone taken the time to evaluate the profitability of Druff's short term predictions on this forum regarding Bitcoin price? My gut tells me that it has been mostly a contrary predictor. But that could be due to the overall rise in Bitcoin price since I've been reading this thread.Quote:
Originally Posted by SheesfacedAlready above 9,000. Trying to predict this based on your feeling or perception is a fool's errand.Quote:
Originally Posted by Dan Druff
He did sell at $250 which was the exact bottom after the 2013 crash. I recall stating on this forum that it would skyrocket after he panic sold.Quote:
Originally Posted by MumblesBadlyHas anyone taken the time to evaluate the profitability of Druff's short term predictions on this forum regarding Bitcoin price? My gut tells me that it has been mostly a contrary predictor. But that could be due to the overall rise in Bitcoin price since I've been reading this thread.Quote:
Originally Posted by Sheesfaced
and it is killing him
not joking i bet it has caused his cheap ass to lose sleep
I sold a tiny bit of bitcoin at a loss for $250 or whatever.
I only owned a lot when I was cashing out of Bovada using BTC in early 2016.
Those weren't panic sales, but rather were just "cashout from poker and immediately sell at market rate" sales.
Yes, had I held onto the $100k or so of BTC I sold around then, it would have gone up to being worth near $5m at its peak, and well over $2m right now.
However, no one could have predicted that meteoric rise, so it's really not something I can regret.
UH OHS, Bitcoin dropped maybe a couple hundred bucks in the last couple of hours.
Cue Sonatine
Joseph Young
Joseph Young
@iamjosephyoung
South Korea Ministry of Strategy and Finance head Kim Dong-yeon:
"Blockchain can change the world. But, cryptocurrencies are necessary for blockchain networks to operate as incentive-based systems."
In response to blockchain but no cryptocurrency claims
https://mobile.twitter.com/iamjoseph...95260410216448
Is it still, sell on the weekends, buy early in the week for an easy 20%... or has someone switched it up?
But you could have held some as part of a diversified portfolio, as I advised a bit ago when first participating in the discussion on this forum. Given its high risk, holding as much as 1% in Bitcoin would have reasonable, with periodic rebalancing as bitcoin price soared. You could lose the while thing and only take a 1% hit to your net worth, but the reward potential was certainly there despite Tine's continuous prognostications that bitcoin would eventually completely crater. Because "eventually" can be a long way off.Quote:
Originally Posted by Dan Druff
That being said, I'm guessing that $100,000 was greater than 1% of your net worth. Perhaps somewhere between $25,000 to $50,000 would have appropriate as 1% back then. You could then have peeled off profit from bitcoin's rise with periodic rebalancing. Because of the periodic rebalancing, however, you wouldn't have made anywhere near $2 or $5 million over that time because your would have periodically reduced your coin balance over the past few years, but you probably would have pocketed a chunk of change riding the bubble on its way up.
https://www.youtube.com/watch?time_continue=7&v=h0Hd3uWKFKY
i just dig songs about rainbows.
and how donkdown bitcoins are.
With all of your bold predictions about its crash it is hard to take this obvious cop out seriously.Quote:
Originally Posted by Dan Druff
Quote:
Originally Posted by varysWith all of your bold predictions about its crash it is hard to take this obvious cop out seriously.Quote:
Originally Posted by Dan Druff
are we really in this thread to take things seriously?
I think there's still dark downward forces at play here. This is Super Bowl Sunday, and BTC is only really holding it's ground vs. where it finished on Friday (despite a bounce in there). I don't think the second biggest betting event of the year is affecting things *too too* much, but consider this:Quote:
Originally Posted by Salty_Aus
http://www.telegraph.co.uk/technolog...nfl-showpiece/
It has been predicted that the cryptocurrency will account for an unprecedented amount of bets on the game.
"Bitcoin's meteoric rise in value over 2017 has every professional bookmaker we work with convinced that it's going to dominate the Super Bowl," said Nate Johnson, Product Manager at PayPerHead.com.
"The data's there to back that up, too. At least 50% of all Bitcoin transactions are related to the sports betting industry."
So, even if the BTC purchasing leading up to today's game represents a miniscule amount of BTC's market cap, they most certainly are significant factor in BTC's daily trading volume. There's been higher than average buying of BTC's this weekend, and it's only semi-stabilized.
And what happens when the bets are graded, returned to gamblers wallets and they decide they don't really want to hold BTC's?
Overnight Sunday and Monday could get interesting in a BTC bearish sort way. I wouldn't be buying today, even if I believed in BTC.
Freaking Cliffs: It's Superbowl Sunday. Gamblers are buying lots of BTCs this weekend. They'll be selling them tonight and tomorrow. They might've helped give BTC's meteoric recent decline a reprieve, but watch out below. Maybe.
Feels revenue neutral to me
As soon as you deposit BTC the processsor immediately converts to cash for the site.
Patriots punters request a withdrawal and the processor buys BTC and ships to you. You convert to fiat.
Nobody was holding BTC for very long.
This ship sailed years ago but I always thought Chad Elie would have some good takes on processing these days. Whatever.
I wonder how accurate this is. If I were running a business that accepted BTC, there is no way in hell I would keep it in crypto. WAY too big of risk.Quote:
Originally Posted by Sanlmar