crypto currency discussion

[k13]

Is there any book that has props on bitcoin prices?

[ChuckyTheGoat]

Guys - we are at the ground floor of a revolution. You have to understand where we are at. We have unprecedented amount of people/money being dumped into this technology. It's at levels that no one has anticipated. All of these coins are going to go up. Just be a part of the explosion. Here's a BIG clue that this shit has gone meteoric. A lot of exchanges can't keep up with the amount of money they are receiving, so they are turning down the cash for now.

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Plz comment on this. Are u saying that we should expect a delayed increase in BtC price?

IE, the demand is surging. Just need to figure out a way to facilitate T/A's.

[Mac4Lyfe]

TRX taking a big smelly dump

Tron was 0.002 in December. It's currently 0.072. That's 3600% in a month in a half.

This race is not won by the swift...

[Mac4Lyfe]

Plz comment on this. Are u saying that we should expect a delayed increase in BtC price?
IE, the demand is surging. Just need to figure out a way to facilitate T/A's.

Yes, I believe we are seeing lower volumes as people are trying to figure out how to buy. It is very complicated for the average Joe to buy any crypto. Then when you have exchanges down for weeks, transactions go down, which means loss of momentum. There's a lot of technology behind these coins, there's some consolidation going on as well, but as companies figure it out they will start actually making money which will drive prices up. I think all coins will continue to go up the next few years like they have the last few years. 2 bad weeks means nothing. Look at where all these coins were 6 months, 3 months, 1 month ago?

[ace7550]

Yes, I believe we are seeing lower volumes as people are trying to figure out how to buy. It is very complicated for the average Joe to buy any crypto. Then when you have exchanges down for weeks, transactions go down, which means loss of momentum. There's a lot of technology behind these coins, there's some consolidation going on as well, but as companies figure it out they will start actually making money which will drive prices up. I think all coins will continue to go up the next few years like they have the last few years. 2 bad weeks means nothing. Look at where all these coins were 6 months, 3 months, 1 month ago?

Exactly

[dlowilly]

Call me crazy but I also think it's a good sign these credit card companies are blocking crypto purchases at these sites

You don't pitch around a bad hitter if that makes any sense

[Mac4Lyfe]

Call me crazy but I also think it's a good sign these credit card companies are blocking crypto purchases at these sites
You don't pitch around a bad hitter if that makes any sense

Totally agree. They are scared for their livelihoods. It's in their best interest to slow down the train.

[The Kraken]

This game will be won in the later innings, likely after a lot of average joe money is out, and institutional money is all that’s left.

There is still no real product yet. Yes, there’s progress but not a strong product. Guys like charlie lee and vitalyik buterin are sending out warnings once a week about the overvaluation of the current market.

Personally, I’m heeding those warnings. I’m not taking my $$$ out but I think we’re gonna see a prolonged contraction soon.

I think 2018 is gonna be a test for cryptos.

[dlowilly]

This game will be won in the later innings, likely after a lot of average joe money is out, and institutional money is all that’s left.

There is still no real product yet. Yes, there’s progress but not a strong product. Guys like charlie lee and vitalyik buterin are sending out warnings once a week about the overvaluation of the current market.

Personally, I’m heeding those warnings. I’m not taking my $$$ out but I think we’re gonna see a prolonged contraction soon.

I think 2018 is gonna be a test for cryptos.

I just don't see how someone can say it's overvalued when the exchanges are currently turning away new money. The value is based on what someone is willing to pay for it, and there are currently what, hundreds of thousands, maybe a million people who are waiting to buy, not sell, BUY

I agree this craze has dangerous similarities to other historic bubbles, but how can it be near the bubble when so much money is waiting to enter?

[shocka1212]

Call me crazy but I also think it's a good sign these credit card companies are blocking crypto purchases at these sites

You don't pitch around a bad hitter if that makes any sense

CC's have too much protection (disputed charges etc) and shenanigans... for capital gains purposes, makes more sense to only allow it with secured funds. same way you can't buy a stock with physical currency

edit: didn't know the full word was banned from the forum. (odd) my apologies

[shocka1212]

What is ADA?

[dlowilly]

CC's have too much protection (disputed charges etc) and shenanigans... for capital gains purposes, makes more sense to only allow it with secured funds. same way you can't buy a stock with physical currency

I think I understand what ur saying but could you give an example?
Makes sense but they won't even allow it to be treated as a cash advance. I can get chips in a casino or load a fantasy account with a credit card but not buy crypto?

[shocka1212]

I think I understand what ur saying but could you give an example?
Makes sense but they won't even allow it to be treated as a cash advance. I can get chips in a casino or load a fantasy account with a credit card but not buy crypto?

exactly... they want it treated as an asset class, not a novelty for retirees to blow their social security away on. Also, look at the loop holes in the taxation of the other vices you mentioned.

[TPowell]

I just don't see how someone can say it's overvalued when the exchanges are currently turning away new money. The value is based on what someone is willing to pay for it, and there are currently what, hundreds of thousands, maybe a million people who are waiting to buy, not sell, BUY

I agree this craze has dangerous similarities to other historic bubbles, but how can it be near the bubble when so much money is waiting to enter?

Is it a lot of new money or is it a lot of new users with some money? Big difference there and I'm starting to think the latter.

[ans61201]

Totally unrelated, but bought trx at .02 got lured in on the run it went on and bought way more at 12-14 cents. I haven’t cashed out a coin in a while, but had a weird feeling to cash out at .09 transferred the balance of what it got me over to my book in btc and rode it all on the warriors. so pretty much back to my initial buy in on trx + some change 😂😂

“Not investment advice”

Now can we see some coins in green.

Good luck tomorrow everyone/this week

[ans61201]

Problem that I believe were seeing, which is why I was more bearish on the South Korea news and other negative Pr than others on this forum, is that theres a lot of new/small money introducing to the space, with their 500-2000 to invest, that see all of these “bitcoin millionaire” stories and think they’re going to get rich overnight, not having a clue of the wild swings these coins take, and going out the minute they start losing money. And whales are taking advantage of this big time, which is why I think we’re seeing extended red.

Proof: just look at how many times a random person who’s been positing about crypto for 4 days posts “to the moon” about a coin in a given hour. It’s in the tens of thousands on twitter

[The Kraken]

I’m not sure there are any actual products or services yet that warrant the money being thrown at it. Value is whatever someone decides it is but it is a dynamic principle, at some point people have to get actual tangible benefits from cryptos or that value disappears.

And I think 2018 is that test.

Plus, I’m not sure how much new money is actually going to come pouring in. What I do know is that lost almost $200,000,000,000 recently

[shocka1212]

waiting another day or two before I pull the trigger on zrx

[ans61201]

I’m not sure their are any actual products or services yet that warrant the money being thrown at it. Value is whatever someone decides it is but it is a dynamic principle, at some point people have to get actual tangible benefits from cryptos or that value disappears.

And I think 2018 is that test.

Plus, I’m not sure how much new money is actually going to come pouring in. What I do know is that lost almost $200,000,000,000 recently

Also note how fast that amount + more got pumped in, people made a shit ton of profits. Would be irresponsible not to take some if you’re a whale. + if you can manipulate some new average joes along the way and buy your same coin back a couple weeks later I don’t see why they wouldn’t. I think it’s still early to call what exactly this delayed red is.

[The Kraken]

Ya, I don’t hate the player or the game. Smart money wins. I guess at some level I think it’s dishonest for whales or pnd groups to manipulate the market for personal gain at the expense of less experienced traders but hey, life’s not always fair. Overtime more regulations will find their way in. In the mean time, I’m just trying to stay on the high side.

I was looking at volume today and literally had more btc than a few coins had in volume over 24h

I’m gonna whale a few coins

[ans61201]

Btc in a pretty quick nose dive. Lowest in a while.

[Bucketwah]

Not the best of nights..

[ans61201]

Yikes.

[Bsims]

I just don't see how someone can say it's overvalued when the exchanges are currently turning away new money. The value is based on what someone is willing to pay for it, and there are currently what, hundreds of thousands, maybe a million people who are waiting to buy, not sell, BUY

I agree this craze has dangerous similarities to other historic bubbles, but how can it be near the bubble when so much money is waiting to enter?

I've been trying to come up with an analogy to the current crypto market. The best I can do at the moment is a "crowd sourced Ponzi scheme". It wasn't concocted by a single entity, but has morphed into one. The fuel for this is publicity and the new investors. Mac4lyfe is right, the difficulty for new investors in creating and funding accounts is slowing things down. Now add in the publicity of the pullback and one has to wonder how the potential new investors will react. I don't know. Take away the fuel and the fire dies.

[Bsims]

"crowd sourced Ponzi scheme"

Ponzi schemes are good for early investors and bad for the later ones. The people I worry about are the new ones dumping $50-$100 from each paycheck into cryptos. Even worse are the ones running up credit card charges. It won't end well for many of them.

[k13]

Problem that I believe were seeing, which is why I was more bearish on the South Korea news and other negative Pr than others on this forum, is that theres a lot of new/small money introducing to the space, with their 500-2000 to invest, that see all of these “bitcoin millionaire” stories and think they’re going to get rich overnight, not having a clue of the wild swings these coins take, and going out the minute they start losing money. And whales are taking advantage of this big time, which is why I think we’re seeing extended red.

Proof: just look at how many times a random person who’s been positing about crypto for 4 days posts “to the moon” about a coin in a given hour. It’s in the tens of thousands on twitter

I'm sure you're depositing $20k right now...

[k13]

My friend who's the biggest Mush in the world got on it two weeks ago.
Everything he touches turns into shit.

Expect a lot more pain.

[reigle9]

I'm sure you're depositing $20k right now...

you don't think people have 20k invested?

[k13]

you don't think people have 20k invested?

Yeah, from gains they made the last year.

No one here is depositing fresh $20k from their savings.

[Bluehorseshoe]

https://www.cnbc.com/2018/01/16/peoples-bank-of-china-virtual-currency-trade-report.html

[slambam]

The bubble is mid burst right now boys.

[Crusherrr]

Yeah, from gains they made the last year.

No one here is depositing fresh $20k from their savings.

They absolutely are.

[jayc88]

you don't think people have 20k invested?

I'm investing tons of money to go short in Bitcoin. Easiest money i have ever made. Going short above recent highs and buying back below recent lows.

[mackave]

Slaughter house out there boys and girls, take it easy...

[TPowell]

Well, if you are still in the game you might as well drop down some more cash on sub 12K BTC