Bitcoins are officially donkdown

Breathtaking $100 point drops

The moves to the downside are sooo much more dramatic

Pure sex

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Originally Posted by Sanlmar

Breathtaking $100 point drops

The moves to the downside are sooo much more dramatic

Pure sex

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Down $370 from intraday high. Looks like I need to stick to my $GBTC theory. Whenever the premium is outrageous, a selloff is imminent. The premium was close to 100%, never been that high.

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Originally Posted by Daly

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I see what you see.

I love the following article. Not because of the Bitcoin angle (although that's fun) but because the author accurately talks about sentiment at the tail end of bull markets.

Beanie Babies were a phenomena at the end of the dot com bubble.

Right now everything is groovy. Bad news gets ignored. There is no fear. Amazon is $1000. Trump news has zero effect on the market.

Sentiment runs in cycles. The bull market has run so long people forget. THEY ALWAYS DO.

You fear the crash in Bitcoins because of what it tells you about the rest of the markets

Three reasons to fear the coming crash in bitcoins
http://www.marketwatch.com/story/thr...ins-2017-05-24

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Next, it tells us that manias are back.

In any long bull market, there are always one or two assets where the price goes completely crazy. It might be dot-com stocks, or space exploration companies, or apartments in central London, or hedge-fund managers, or if you go back far enough, radio shares, or South American railway companies.

But it is always something. If there is an asset bubble underway, it surely tells us that we are close to the peak of a bull market — and sooner or later, that will turn down.

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^^^^ That shit, right there, is sage wisdom in a paragraph

Author has some fun hinting that Bitcoin may have some hidden derivative effect as was uncovered during 2007/2008 with housing CDO's (The Big Short). The attempt made me smile.

I was tilting earlier then I remembered I have an old BTC affiliate account at directbet, so I hunt down the password and baam smiling again.

Walking away from a good affiliate and logging back in 3 years later GOLDEN! To add to it I also made bank on ethereum, didn't even know they accepted them.

Now not sure if they convert to BTC when paying out, I guess Ill know soon.

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Originally Posted by Sanlmar

I see what you see.

I love the following article. Not because of the Bitcoin angle (although that's fun) but because the author accurately talks about sentiment at the tail end of bull markets.

Beanie Babies were a phenomena at the end of the dot com bubble.

Right now everything is groovy. Bad news gets ignored. There is no fear. Amazon is $1000. Trump news has zero effect on the market.

Sentiment runs in cycles. The bull market has run so long people forget. THEY ALWAYS DO.

You fear the crash in Bitcoins because of what it tells you about the rest of the markets

Three reasons to fear the coming crash in bitcoins
http://www.marketwatch.com/story/thr...ins-2017-05-24

Quote:

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Next, it tells us that manias are back.

In any long bull market, there are always one or two assets where the price goes completely crazy. It might be dot-com stocks, or space exploration companies, or apartments in central London, or hedge-fund managers, or if you go back far enough, radio shares, or South American railway companies.

But it is always something. If there is an asset bubble underway, it surely tells us that we are close to the peak of a bull market — and sooner or later, that will turn down.

---

^^^^ That shit, right there, is sage wisdom in a paragraph

Author has some fun hinting that Bitcoin may have some hidden derivative effect as was uncovered during 2007/2008 with housing CDO's (The Big Short). The attempt made me smile.

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Is that a chart of Bitcoin? Nope. Chart of Home Depot stock. Dozens of stocks have a similar chart. Maybe 100's.

Quote:

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Originally Posted by Sanlmar

I see what you see.

I love the following article. Not because of the Bitcoin angle (although that's fun) but because the author accurately talks about sentiment at the tail end of bull markets.

Beanie Babies were a phenomena at the end of the dot com bubble.

Right now everything is groovy. Bad news gets ignored. There is no fear. Amazon is $1000. Trump news has zero effect on the market.

Sentiment runs in cycles. The bull market has run so long people forget. THEY ALWAYS DO.

You fear the crash in Bitcoins because of what it tells you about the rest of the markets

Three reasons to fear the coming crash in bitcoins
http://www.marketwatch.com/story/thr...ins-2017-05-24

Quote:

---

Next, it tells us that manias are back.

In any long bull market, there are always one or two assets where the price goes completely crazy. It might be dot-com stocks, or space exploration companies, or apartments in central London, or hedge-fund managers, or if you go back far enough, radio shares, or South American railway companies.

But it is always something. If there is an asset bubble underway, it surely tells us that we are close to the peak of a bull market — and sooner or later, that will turn down.

---

^^^^ That shit, right there, is sage wisdom in a paragraph

Author has some fun hinting that Bitcoin may have some hidden derivative effect as was uncovered during 2007/2008 with housing CDO's (The Big Short). The attempt made me smile.

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The "hidden derivative effect" is that it's easier to derive who is overconfident about the direction of bitcoin based on how many people publicly extol its virture or impending demise. At this time, it's the cheerleaders.

http://www.businessinsider.com/bitco...nd-2700-2017-5

As far as the stocks have followed same curve up, guess what same coming doom applies to them too.

On a personal note my day is back to tilt, after finding my old directbet.eu affiliate account was stacked I then discover within hours they are closing this month! tilt

What tilts you more; directbet closing or how donkdown bitcoins are?

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Originally Posted by sonatine

What tilts you more; directbet closing or how donkdown bitcoins are?

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In combination uber tilt, the directbet closing hurts more though tbh, apparently had a nice stream going there, now spending the night looking at betcoin and nitro options. Mind you I cant get the things to kraken fast enough to dump and as the tiltiness of the day would have it kraken was down this afternoon.

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Originally Posted by DonaldTrumpsHairPiece

Quote:

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Originally Posted by sonatine

What tilts you more; directbet closing or how donkdown bitcoins are?

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In combination uber tilt, the directbet closing hurts more though tbh, apparently had a nice stream going there, now spending the night looking at betcoin and nitro options. Mind you I cant get the things to kraken fast enough to dump and as the tiltiness of the day would have it kraken was down this afternoon.

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Kraken sounds like its just about donkdown as well.

But you know... Hang out at a barber shop, sooner or later you get a haircut.

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Originally Posted by sonatine

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Originally Posted by DonaldTrumpsHairPiece

In combination uber tilt, the directbet closing hurts more though tbh, apparently had a nice stream going there, now spending the night looking at betcoin and nitro options. Mind you I cant get the things to kraken fast enough to dump and as the tiltiness of the day would have it kraken was down this afternoon.

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Kraken sounds like its just about donkdown as well.

But you know... Hang out at a barber shop, sooner or later you get a haircut.

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Here's a weird one....apparently I also did a betcoin affiliate shy of 2 years ago and had 23 sign ups so far or 1 a month and earned 368 "chips" and counting. It converts to roughly a third or more of a BTC 1BTC 1000 chips. So back to minor tilt, $800 found. Funny how finding a few bucks picks you up but in grand scheme is like finding a quarter.

As far as the hair cut goes, I hear ya, as you can tell I cared at one time about this stuff and without this recent price jump would have never looked to see what I had done so turning and dumping... lost interest tbh.

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Originally Posted by Sanlmar

Breathtaking $100 point drops

The moves to the downside are sooo much more dramatic

Pure sex

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Bitcoin Drops $300 in an Hour- and Still Rises on the Day



https://blogs.wsj.com/moneybeat/2017...es-on-the-day/

http://www.marketwatch.com/story/wal...ing-2017-05-25

Going to be a long and depressing 3 day weekend for the longs!

A see a lot of reactionary analysis. TRIGGER WARNING for anyone not wanting to be lectured by a pretentious fag. Counterarguments encouraged and appreciated.

Crypto is not in a bubble, presently. They are perhaps the only market sector remaining that so far can not be manipulated, abused, rigged or depressed by the central banks and colluding governments.

They are experiencing true price-discovery action - something other markets have not enjoyed for decades. The price rise reflects this. It also illustrates clearly the inflation being pushed across the globe by the money-printing of the central banks. Yes there will be price corrections like in any markets, but this is no bubble at the present point.

The upward mobility is real, by all accounts. I find amusement that the same entities that can't spot an obvious and glaring market bubble in stocks, bonds, real-estate, vehicle loans, student loans if their life depended on it -- can magically determine with "certainty" that they believe CryptoCurrencies are in a bubble.

It reminds me of how we still obsess about pollls showing Trump's popularity level when these polls proved to be misleading, at best, during the campaign.

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Originally Posted by GringoStar

They are perhaps the only market sector remaining that so far can not be manipulated, abused, rigged or depressed by the central banks and colluding governments.

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I thought we had seen definitive evidence that whales can and have manipulated the market prices through high volume microtrades, etc?

You're not wrong since you specified banks/gov but the premise that it cannot be manipulated seems to run against common knowledge/established history. Whats more, we have seen value plummet in the past when the Chinese gov/banks stomp on various exchanges or fail to embrace various platforms.

Ergo, donkdown.

http://i.imgur.com/3XNeU68.gif

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Originally Posted by sonatine

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Originally Posted by GringoStar

They are perhaps the only market sector remaining that so far can not be manipulated, abused, rigged or depressed by the central banks and colluding governments.

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I thought we had seen definitive evidence that whales can and have manipulated the market prices through high volume microtrades, etc?

You're not wrong since you specified banks/gov but the premise that it cannot be manipulated seems to run against common knowledge/established history. Whats more, we have seen value plummet in the past when the Chinese gov/banks stomp on various exchanges or fail to embrace various platforms.

Ergo, donkdown.

http://i.imgur.com/3XNeU68.gif

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Your point is that supply and demand affects price?

Wow, I clicked here to see dancing in the streets at BTC's recent drop of a few hundred. I had no idea I'd read something so fucking profound.

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Originally Posted by sonatine

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Originally Posted by GringoStar

They are perhaps the only market sector remaining that so far can not be manipulated, abused, rigged or depressed by the central banks and colluding governments.

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I thought we had seen definitive evidence that whales can and have manipulated the market prices through high volume microtrades, etc?

You're not wrong since you specified banks/gov but the premise that it cannot be manipulated seems to run against common knowledge/established history. Whats more, we have seen value plummet in the past when the Chinese gov/banks stomp on various exchanges or fail to embrace various platforms.

Ergo, donkdown.

http://i.imgur.com/3XNeU68.gif

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I'm not aware of any meaningful, lasting value shifts that were found to be purely based on the manipulation of whales. If you are referring to the twins, I sort of see your point, but not a lasting result on any one person/entities back.

Also, Crytpo gets blocked but has yet to be co-opted (corrupted), like standard banking institutions. However, your hole poking ability is real and definitely a fair assessment.

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Originally Posted by GringoStar

Quote:

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Originally Posted by sonatine

I thought we had seen definitive evidence that whales can and have manipulated the market prices through high volume microtrades, etc?

You're not wrong since you specified banks/gov but the premise that it cannot be manipulated seems to run against common knowledge/established history. Whats more, we have seen value plummet in the past when the Chinese gov/banks stomp on various exchanges or fail to embrace various platforms.

Ergo, donkdown.

http://i.imgur.com/3XNeU68.gif

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I'm not aware of any meaningful, lasting value shifts that were found to be purely based on the manipulation of whales. If you are referring to the twins, I sort of see your point, but not a lasting result on any one person/entities back.

Also, Crytpo gets blocked but has yet to be co-opted (corrupted), like standard banking institutions. However, your hole poking ability is real and definitely a fair assessment.

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Honestly I dont know if there was ever really attribution for the microtransaction flurries (twins, etc), and the other side of that coin is that I dont now if there was ever definitive 1 to 1 correlation between the microtransaction flurries and an increase in value... I mean, there is knowing and there is knowing... in fact one could argue that most BTC investors were quickly inoculated against those sorts of shenans but again that opens an interesting door, without a backing currency of some sort, the shortest path to manipulation remains psychological. And while that sort of weakness can be exploited for virtually anything traded, its the lack of a standard backing that makes crypto especially vulnerable.

Ergo http://i.imgur.com/LzmYd8i.jpg

Quote:

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Originally Posted by GringoStar

A see a lot of reactionary analysis. TRIGGER WARNING for anyone not wanting to be lectured by a pretentious fag. Counterarguments encouraged and appreciated.

Crypto is not in a bubble, presently. They are perhaps the only market sector remaining that so far can not be manipulated, abused, rigged or depressed by the central banks and colluding governments.

They are experiencing true price-discovery action - something other markets have not enjoyed for decades. The price rise reflects this. It also illustrates clearly the inflation being pushed across the globe by the money-printing of the central banks. Yes there will be price corrections like in any markets, but this is no bubble at the present point.

The upward mobility is real, by all accounts. I find amusement that the same entities that can't spot an obvious and glaring market bubble in stocks, bonds, real-estate, vehicle loans, student loans if their life depended on it -- can magically determine with "certainty" that they believe CryptoCurrencies are in a bubble.

It reminds me of how we still obsess about pollls showing Trump's popularity level when these polls proved to be misleading, at best, during the campaign.

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:noose

Quote:

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Originally Posted by GringoStar

A see a lot of reactionary analysis. TRIGGER WARNING for anyone not wanting to be lectured by a pretentious fag. Counterarguments encouraged and appreciated.

Crypto is not in a bubble, presently. They are perhaps the only market sector remaining that so far can not be manipulated, abused, rigged or depressed by the central banks and colluding governments.

They are experiencing true price-discovery action - something other markets have not enjoyed for decades. The price rise reflects this. It also illustrates clearly the inflation being pushed across the globe by the money-printing of the central banks. Yes there will be price corrections like in any markets, but this is no bubble at the present point.

The upward mobility is real, by all accounts. I find amusement that the same entities that can't spot an obvious and glaring market bubble in stocks, bonds, real-estate, vehicle loans, student loans if their life depended on it -- can magically determine with "certainty" that they believe CryptoCurrencies are in a bubble.

It reminds me of how we still obsess about pollls showing Trump's popularity level when these polls proved to be misleading, at best, during the campaign.

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$2700 to $2050. If Bitcoin experiences a huge crash, the stock market and real estate markets will crash will be right behind it. Sounds dumb but watch and see.

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Originally Posted by snake_in_the_ass

$2700 to $2050. If Bitcoin experiences a huge crash, the stock market and real estate markets will crash will be right behind it. Sounds dumb but watch and see.

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Sounds more reactionary than dumb. I don't see Bitcoin crashing being anything more than the canary in the coal mine, at most. But if BTC crashes, it's not like it's over for Crypto. BTC could very well be Netscape Navigator and we haven't even approached the era of Google yet.

@snake

I would say quite the opposite, if RE and Markets crashed then BTC crashes right along as that investment money pulls out of crypto because of RE and market loses.

BTC is NOT a storage of wealth, not tangible and certainly not broad enough or large enough to affect RE and Markets on it's own.

Right now its a drop in the bucket still.

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Originally Posted by DonaldTrumpsHairPiece

@snake

I would say quite the opposite, if RE and Markets crashed then BTC crashes right along as that investment money pulls out of crypto because of RE and market loses.

BTC is NOT a storage of wealth, not tangible and certainly not broad enough or large enough to affect RE and Markets on it's own.

Right now its a drop in the bucket still.

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I think BTC is just a reflection of the current state of the stock & real estate market. Valuations are so outrageous that anything and everything is bid up, including some virtual coin created in the basement of some dude's house.

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Originally Posted by snake_in_the_ass

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Originally Posted by DonaldTrumpsHairPiece

@snake

I would say quite the opposite, if RE and Markets crashed then BTC crashes right along as that investment money pulls out of crypto because of RE and market loses.

BTC is NOT a storage of wealth, not tangible and certainly not broad enough or large enough to affect RE and Markets on it's own.

Right now its a drop in the bucket still.

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I think BTC is just a reflection of the current state of the stock & real estate market. Valuations are so outrageous that anything and everything is bid up, including some virtual coin created in the basement of some dude's house.

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Possibly also because the market is very thin, so the smallest change in buy or sell orders whipsaws the price.

I dumped the remainder of my coin the other day near the high so a nice strong dip is fine by me, may jump back on that. Issue now is jump on it now or 19 or 18 or 17 etc ? Some say could dive to 1200.

When the premium on $GBTC gets to 20% or lower, that will be a bottom. The current premium is over 100%.

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Originally Posted by snake_in_the_ass

When the premium on $GBTC gets to 20% or lower, that will be a bottom. The current premium is over 100%.

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So what 12? in your opinion.

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Originally Posted by DonaldTrumpsHairPiece

Quote:

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Originally Posted by snake_in_the_ass

When the premium on $GBTC gets to 20% or lower, that will be a bottom. The current premium is over 100%.

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So what 12? in your opinion.

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The homepage for $GBTC is https://grayscale.co/bitcoin-investment-trust/
If you go to that site and look at the bottom left it will tell you what the ratio is for bitcoin per share:

Bitcoin per Share = 0.09306347

If you use Bitstamp for the price of Bitcoin, $2149 x .09306347 = $199.99/share. $GBTC is currently trading at $405/share. It is over a 100%. When the premium is high, and in this case it is unusually high, that means investor sentiment is through the roof. That is when you want to sell. When the premium gets to 20% or lower, that means sentiment has gone sour and should be a bottom. Just something I have noticed watching $GBTC. I have made some decent money trading it and bitcoin itself.

Thanks

$100 worth of bitcoins in 2010 is worth $73 million today.

Is it possible that people back then who had $100 or w/e worth of bitcoin, then died. Now have $100+ million just sitting there without any family members realizing that they're mega millionaires?

Of course, I would guess at least 1 person who spent $100 on bitcoin in 2010 has died within the last 7+ years. Did they share that info with a family member, that depends when they died. Its possible if they died early on then no but later on then yes.

This is the first time I've seen btc and Ltc trending down, while etc is trending up. From my limited speculation, buy a btc or 2, sell when they go up $300, or buy 5 etc and 25 ltc, sell when I make $500, this is the first time I've seen this occur. They all generally seem
to head the same direction at the same time. Maybe just a blip, but I was starting to think they all traded on pure pscychology, and no fundamentals beyond crypto belief, but the past few days movement made me curious if some btc backing is moving slowly over. I know donkdowndied mentioned being more bullish on etc. He's caught a lot of shit here, but he's been on far more often than off thus far on this subject. If anything, he's generally been far more conservative than the straight bulls on other sites.

Edit- clearly meant eth, not etc, that's the old one

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Originally Posted by Lord of the Fraud

$100 worth of bitcoins in 2010 is worth $73 million today.

Is it possible that people back then who had $100 or w/e worth of bitcoin, then died. Now have $100+ million just sitting there without any family members realizing that they're mega millionaires?

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Death is unlikely, since the early collectors of bitcoin were mostly younger people, and they also would have seen the run-up in 2013.

What is more likely is "lost" bitcoins -- ones stored offline on failed hardware.

Khalwat mentioned on radio that he had a number of bitcoin on a computer he used in a work environment, which is now "in a landfill somewhere" and is now inaccessible, perhaps with as much as $100,000 of bitcoin on it.

You read a lot of allusions to the percentage of idle or lost bitcoins out there. It is inferred that somehow this offers a kind of price support.

The fact is Bitcoin are worth what the last trade says they are worth.

If Sonatine asks 1 cent and I bid 1 cent then they are worth 1 cent - at least for that brief moment of clarity.

Maybe the market becomes thinner and thinner. Fewer people control the price. (We are seeing a thin market now comparatively)

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Originally Posted by Sanlmar

You read a lot of allusions to the percentage of idle or lost bitcoins out there. It is inferred that somehow this offers a kind of price support.

The fact is Bitcoin are worth what the last trade says they are worth.

If Sonatine asks 1 cent and I bid 1 cent then they are worth 1 cent - at least for that brief moment of clarity.

Maybe the market becomes thinner and thinner. Fewer people control the price. (We are seeing a thin market now comparatively)

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Lost coins lower the market cap a bit for an unknown amount. Price of coins reflect their non existance so you can't just multiply the price with every coin that has ever been mined, but it's nothing really significant. Altcoins being 50% of the market lost coins are even less of an issue now than it was few months ago when btc was still 80% of the whole market.

Idle coins on the other hand are kinda worrisome in a might start a panic sell type off way once they start moving and there's no true incentive (like dividends) for people to keep them dormant.

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Originally Posted by Dan Druff

Quote:

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Originally Posted by Lord of the Fraud

$100 worth of bitcoins in 2010 is worth $73 million today.

Is it possible that people back then who had $100 or w/e worth of bitcoin, then died. Now have $100+ million just sitting there without any family members realizing that they're mega millionaires?

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Death is unlikely, since the early collectors of bitcoin were mostly younger people, and they also would have seen the run-up in 2013.

What is more likely is "lost" bitcoins -- ones stored offline on failed hardware.

Khalwat mentioned on radio that he had a number of bitcoin on a computer he used in a work environment, which is now "in a landfill somewhere" and is now inaccessible, perhaps with as much as $100,000 of bitcoin on it.

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http://www.nbcnews.com/news/other/it...on-f2D11669738


7500 btc = $15,000,000 rotting in a landfill someplace.

Quote:

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Originally Posted by Sanlmar

You read a lot of allusions to the percentage of idle or lost bitcoins out there. It is inferred that somehow this offers a kind of price support.

The fact is Bitcoin are worth what the last trade says they are worth.

If Sonatine asks 1 cent and I bid 1 cent then they are worth 1 cent - at least for that brief moment of clarity.

Maybe the market becomes thinner and thinner. Fewer people control the price. (We are seeing a thin market now comparatively)

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I think I have shared this pyramid before would have to look for it again. Make no mistake the distribution pyramid is sick, basically XXXX people rule the bitcoin world.

I have no idea if there is an out at some point but several hundred people made sick money on this and are laughing at the nerds and the pump.


On a side note I jumped into ETH big, got that gut feeling its still relatively cheap enough to jump massively regardless or in light of the price of BTC. I'm no CMONEY but then again may be a good thing lol

The bargain hunters or more likely bagholders showed up today. Did over $10,000 volume today in the ATM.

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Originally Posted by snake_in_the_ass

The bargain hunters or more likely bagholders showed up today. Did over $10,000 volume today in the ATM.

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Don't you wonder if it wasn't one guy?

He needs to see a $200 rise just to break even. Could well be an online gambler too.

Appreciate your story. Keep posting it