Bitcoin Price Tracking & Discussion -- 2017

[Sam Odom]

Who is buying at 4K ?

[Sam Odom]

some of you may be interested

bought BTC from an ATM today

long story short... bottom line it cost Sammy 9%+/- on 320.00 (put 320.00 in ATM)

good news: the inputting , scanning smart phone wallet bitcoin qr code and double checking all takes place before inserting cash. took 3 seconds to hit phone's Bread wallet. received 292.20

if you then deposit into a book giving you 10% btc bonus or more... Bob's your uncle

[GunShard]

Interesting comparisons of wealth distribution between Bitcoin and Litecoin.

https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

https://bitinfocharts.com/top-100-richest-litecoin-addresses.html

[Kaabee]

Most wallets are empty or close to it.

And there's only 16+ million in circulation so that 440 million figure makes no sense.

[GunShard]

I found false information from the web. So I had to remake my post.

[Optional]

some of you may be interested

bought BTC from an ATM today

long story short... bottom line it cost Sammy 9%+/- on 320.00 (put 320.00 in ATM)

good news: the inputting , scanning smart phone wallet bitcoin qr code and double checking all takes place before inserting cash. took 3 seconds to hit phone's Bread wallet. received 292.20

if you then deposit into a book giving you 10% btc bonus or more... Bob's your uncle

If you plan to use the ATM regularly, get the owners name off it and call them and ask for a better rate.

Other people, who convert thousands at a time, report around 4% is the going rate.

Even if you are not big but regular you should be able to negotiate a better rate.

[Sam Odom]

Good stuff , Opti

[Sam Odom]

FWIW

most complaints about slow transfer time are because of low fee setting in wallet - been Sammy experience

[MeanPeopleSuck]

A terrifying rumor for all crypto owners/traders/dabblers: https://www.coindesk.com/report-cast...oin-exchanges/

[Sam Odom]

precarious ground we are on

[MeanPeopleSuck]

precarious ground we are on

Hey, Sam. Did you trade your car for that football, straight up? Cuz, if so, I think you got rooked!

[Sam Odom]

Football will stay up till right after superbowl

[bigtymer56]

A terrifying rumor for all crypto owners/traders/dabblers: https://www.coindesk.com/report-cast...oin-exchanges/

Dam, instead of doing dollar cost averaging, I need to just save up and wait for the "X is going to kill cryptocurrency" panic that happens every few months.

[MeanPeopleSuck]

Dam, instead of doing dollar cost averaging, I need to just save up and wait for the "X is going to kill cryptocurrency" panic that happens every few months.

Heh, crashes happen a lot more often than "every few months."

[MeanPeopleSuck]

The rumor's drumbeat gets louder by the hour:

WSJ: https://www.wsj.com/articles/china-t...ces-1505100862

Barron's: http://www.barrons.com/articles/chin...ges-1505110972

CNBC: https://www.cnbc.com/2017/09/11/bitc...exchanges.html

So it this does happen, how big a hit are we talking?

[Sam Odom]

CASH is still KING

[MeanPeopleSuck]

Here's an excellent review of pertinent news: https://storeofvalue.github.io/posts...e-know-so-far/

The majority view in the bitcoin community is that it won't happen, but that majority's getting smaller each day.

Since I think there's a better than 50% chance it will happen, I've got plenty of cash ready to try and pick the bottom of a crash.

[MeanPeopleSuck]

Today, China's Bitkan suspended service, attributing it to "growing scrutiny from regulator[s]." https://www.coindesk.com/bitcoin-otc...hina-pressure/

This is alarming because Bitkan is an OTC market, a market the rumors seem to believe won't be affected by China's potential move.

[Sam Odom]

are 'holders' nervous yet ?

[JAKEPEAVY21]

are 'holders' nervous yet ?

yes, I'm starting to get nervous.

[bigtymer56]

are 'holders' nervous yet ?

Everytime the price drops I just remind myself the price was less than $1000 back in January.

[19th Hole]

GUNDLACH ON BITCOIN: 'I'm going to let this mania go on without me'






Akin Oyedele

Business InsiderSeptember 13, 2017

Screen Shot 2017 09 13 at 11.09.04 AM
More
(Markets Insider)
Just about everyone has questions about bitcoin these days, including Jeffrey Gundlach's 86-year-old mom.
Gundlach, DoubleLine Capital's founder, said she texted with a link to a story urging readers to buy bitcoin. She wanted to know whether she should get in the game.
But the cryptocurrency is not something that Gundlach himself is ready to participate in.
"I’m going to let this mania go on without me," Gundlach said during a webcast with clients on Tuesday. He did devote the first slide in his section on Fed policy to a bitcoin price chart.
"I philosophically don't believe it's unhackable," he said, adding that he's received pushback from "smart 20-somethings."
Bitcoin was near $4,500 per dollar when Gundlach got the text from his mom. It crossed the $5,000 mark briefly, but has since rolled back, to about $3,765 on Wednesday.
"So, I'm sure she's not interested in buying it now that it's falling," Gundlach said. He added that he didn't have a price target on bitcoin.
Although bitcoin could run into regulatory hurdles in key markets like China, where domestic exchanges reportedly risk being closed, some investors are betting that it will only get more popular. Tom Lee, the co-founder of Fundstrat, forecasts that bitcoin could hit $6,000 by mid-2018.
Not everyone agrees, including Mohamed El-Erian, Allianz's chief economic adviser. He told CNBC on Wednesday that he didn't think governments would allow the massive adoption that traders have priced in. Bitcoin should be worth "at least half" of its current price, he said.
Gundlach spoke a few hours after Jamie Dimon, JPMorgan's CEO, said he would fire any trader who was transacting bitcoin. Bitcoin is "worse than tulip bulbs," Dimon said, referring to the infamous speculative market for tulips in 17th-century Europe.
"It's interesting that somebody that high-profile is out there with such an interesting statement," Gundlach said about Dimon.
NOW WATCH: GARY SHILLING: Stocks are expensive, and a 'shock' could send them plunging

[Optional]

^^^^ no matter what words they utter, the fact that the big end of town is speaking about Bitcoin weekly now is the proof it has already made it.

They might yell for more regulation but these guys are years behind the curve and dont realize their old school manipulation tactics are too late and not workable to stop crypto currencies. If not Bitcoin then something else will be the key world currency in the not too distant future.

[Mac4Lyfe]

$5 of BTC 7 years ago would be worth ~$9 million today.

BTC ain't going anywhere. It'll be $10k sooner than I thought and most likely $100k in a few years.

[MeanPeopleSuck]

are 'holders' nervous yet ?

I think opinions on both sides are starting to come together. The folks who three days ago were screaming "FAKE NEWS!" are now down to "well, it could still all be fake news."

And people like me, who genuinely believe China's acting to curb crypto's excesses, are starting to believe they might be doing an effective enough job with their day to day leaks and hints (here's today's: https://www.coindesk.com/china-inter...al-foundation/) that the market might self correct enough that a formal banning might not be necessary.

The last few days I've tried to learn as much as I can about how the Chinese government handles these things, and it's basically the exact opposite of how we do things in the west. Whereas we'd have the SEC clearly make a decision and declare a rule (like it did back in April when it rejected BTC ETF's), the Chinese government kind of leaves a lot between the lines, forcing companies to interpret their intentions properly, or else.

So, does that mean if exchanges keep shutting themselves down that this will just sort of go away over time? Heh, I have no idea. But my guess is BTC's price is going to get worse before it gets better.

[MeanPeopleSuck]

yes, I'm starting to get nervous.

FWIW, and subject to all the usual, "crypto makes us all look stupid" admonitions, my first purchase triggered today at $3751. I've got buy orders set up every $50 from there all the way down to $3400 (God forbid).

[xpress]

very useful updates with the links, MPS.
thanks

[Sam Odom]

3681

[5mike5]

Falling like a rock

[ChuckyTheGoat]

3681

Sammy, we may have hit the trough. Only north from here.

[themike78]

It's going down to $3 and will never go back up. Will be completely worthless in a few months.

[Sam Odom]

am not froggy these days

just watching

[Sam Odom]

A number of China’s top bitcoin exchanges are preparing to suspend their services following instructions from the government.

BTC China, one of the country’s top three, became the first to officially make the move after it announced today that will stop all trading for China-based customers from September 30.

The company said other services, including its BTCC Pool for miners, are not impacted and will continue to run. There’s no word on when, or indeed whether, it will reintroduce trading.

[USCPHILLYGUY]

A number of China’s top bitcoin exchanges are preparing to suspend their services following instructions from the government.

BTC China, one of the country’s top three, became the first to officially make the move after it announced today that will stop all trading for China-based customers from September 30.

The company said other services, including its BTCC Pool for miners, are not impacted and will continue to run. There’s no word on when, or indeed whether, it will reintroduce trading.

https://techcrunch.com/2017/09/14/china-bitcoin-exchange-suspended-bttc-china/

[Sam Odom]

Philly

Hopefully that (china news) is already baked in the cake