Transactions are so slow now.
You can sit pending for an hour.
It's a forked sign I tell ya.
Transactions are so slow now.
You can sit pending for an hour.
It's a forked sign I tell ya.
My conspiracy mind tells me bitcoins were just a way to condition people to use digital currency. Seems like the creators were all linked to various government programs with darpa and the CIA. Im sure bitcoin will be donkdown for sure and some other digital currency will be introduced by the major banks and they will still rape us on useless transaction fees. If bitcoin has taught me anything, it's how much these banks are making on "fees". Reminds me of the "undercoat spray" for the car, or other made up shit.
"Druff would suck his own dick if it were long enough"- Brandon "drexel" Drexel
"ann coulter literally has more common sense than pfa."-Sonatine
"Real grinders supports poker fraud"- Ray Davis
"DRILLED HER GOOD"- HONGKONGER
I just scrolled back and saw you posted this last Friday.Originally Posted by Starbucks Spunk Bucket
I'll take a stab at this.
First, we all now accept this is a Chinese driven market.
The Feds Janet Yellen made some strong remarks Friday at Harvard that had polled CME traders immediately raising the probability of a June rate hike and especially a rate hike by year end.
Recently there has been a very stable yuan.
The conventional wisdom is that an interest-rate increase triggers a U.S. dollar rally that will suck money out of China and weaken the yuan.
Sucks to be a Chinaman with yuan in your pocket.
Already the US dollar marked new highs and tonight Asain shares are slipping.
Chinese are hitting the exits with Bitcoin.
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This is what's happening in my opinion. Personally, I'll be shocked as shit if the Democrats risk raising rates before the election and unwinding the asset bubble now.
The Fed has a problem. They have promised to raise rates forever now and ending stimulus. Yet they can't because things arent as great as they appear. It's a bubble stupid. So they can't & don't. But their integrity is compromised.
The Fed is in a box. We will see.
Talking to LibertyX retailers this afternoon they say they had a lot of action past three days.
I just bought some at $513.90 a few hours ago.
You're forgetting the part where the Chinese government just takes the illegal bitcoin from the citizens because they are a communist government who can do that. Just look at greece putting restrictions on how much people can take out of an atm and their not even in a communist government.I just scrolled back and saw you posted this last Friday.
I'll take a stab at this.
First, we all now accept this is a Chinese driven market.
The Feds Janet Yellen made some strong remarks Friday at Harvard that had polled CME traders immediately raising the probability of a June rate hike and especially a rate hike by year end.
Recently there has been a very stable yuan.
The conventional wisdom is that an interest-rate increase triggers a U.S. dollar rally that will suck money out of China and weaken the yuan.
Sucks to be a Chinaman with yuan in your pocket.
Already the US dollar marked new highs and tonight Asain shares are slipping.
Chinese are hitting the exits with Bitcoin.
------------------
This is what's happening in my opinion. Personally, I'll be shocked as shit if the Democrats risk raising rates before the election and unwinding the asset bubble now.
The Fed has a problem. They have promised to raise rates forever now and ending stimulus. Yet they can't because things arent as great as they appear. It's a bubble stupid. So they can't & don't. But their integrity is compromised.
The Fed is in a box. We will see.
Talking to LibertyX retailers this afternoon they say they had a lot of action past three days.
I just bought some at $513.90 a few hours ago.
"Druff would suck his own dick if it were long enough"- Brandon "drexel" Drexel
"ann coulter literally has more common sense than pfa."-Sonatine
"Real grinders supports poker fraud"- Ray Davis
"DRILLED HER GOOD"- HONGKONGER
I don't care about that. I only care about near term day trade stuff. I can see what's happening now. I can't predict the future any better than anyone else.
Trade what you see, as the saying goes.
Would love to know what % of BTC in circulation are owned by the Chinese.
BALLIN'!!
You don't understand Bitcoin. If one understands what they are doing, then the government can't take away their BTC shy of threatening to kill them or torture. Of course that'll work with anything that is protected via secret.You're forgetting the part where the Chinese government just takes the illegal bitcoin from the citizens because they are a communist government who can do that. Just look at greece putting restrictions on how much people can take out of an atm and their not even in a communist government.
Mumbles, the lower freight rates is an indicator I have not heard referenced. Very good tidbit.
In the old days we used to track UPS & Fedex as an indicator but online growth has screwed that up.
Good morning
So in a normal market, traders would bring this back (retracement) toward the breakout of $467 to rinse out the weak hands.
If that were to happen you have to have already decided your play.
I guess this speaks to Druff's question.
Just so I don't get suspected of talking out of my tailpipe:
http://m.truckinginfo.com/news/26244...earlier-levels
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God forbid lol...
BALLIN'!!
Last few days it pops up overnight due to China, then creeps down during the day.
Druff, you mentioned that a factor possibly affecting Bitcoin price is Chinese trying to move wealth away from their currency. Here's a Bloomberg article that mentions current currency flight from China, but oddly doesn't mention how Chinese can do so using BTC.
Goldman Sees End of Yuan ‘Sweet Spot’ Spurring Fund Outflows
http://www.bloomberg.com/news/articl...bcomANews=true
Also, you said that the Chinese are also using BTC as a means to save for retirement. This may be a straight diversification move, or driven by concerns that the Chinese government can't be trust to not confiscate wealth, especially given the current anti-corruption campaign over there. And that campaign can provide cover for politically-motivated revenge/power play against officials or wealthy Chinese who were politically aligned with the previous leadership of China. This story from March discusses this campaign over the past few years, but it likely hasn't yet abated, and Chinese citizens further down the food chain may be getting nervous it will personally affect them. Especially if they accumulated a considerable amount of wealth doing business with the officials who were punished to-date but haven't been personally officially tapped 'on the shoulder' over how they were so successful.
China corruption crackdown 'netted 300,000 in 2015'
http://www.bbc.com/news/world-asia-china-35741357
P. S. All this being said, I agree with Drexel that if losing money holding BTC is likely to bother you (because you see it as a short-term trading opportunity versus a long-term diversification play), the risk of getting even a bit tilted over losing money on it during the WSOP prolly calls for selling them while you can book a nice profit.
Last edited by MumblesBadly; 06-02-2016 at 04:42 AM. Reason: Addendum
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$564...!!
BALLIN'!!
LOL at the "Prognosticators" over the past few weeks, as it increases in price.
I am holding on to my 22 BTC until it gets around 600, then I will sell in the morning, as it always seems to be the top at that time due to China.
I think there will be real resistance around 600. But it may run up to that point fairly easily.
Fed raising rates --> strong dollar ---> weak yaun ---> rise BTC
That was my line.
After today I am looking for reaction.
The reason that drives the first leg may shift to pure speculation with not much resistance up here.
Not a bad plan though.
I never believed Fed would raise rates before Nov anyway.
good call tine
Time to buy some bitcoin for another irrational run up to $1200. God that last run up was a glorious thing. Made some quick and easy money then. Oh and lol at Blake winning the skatz fantasy football league that year. We all agreed to buyin for one bitcoin each but then no one did. Poor guy shoulda won like $7,000.
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