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-   -   Bitcoin - Part 3 (http://www.internationalskeptics.com/forums/showthread.php?t=336407)

Samson 16th March 2020 12:22 AM

Quote:

Originally Posted by psionl0 (Post 13021413)
Is that what your TA is telling you? :rolleyes:

Yes sell above 6500.
Heat death of universe will beat 6500 in my humble opinion

trustbutverify 16th March 2020 01:58 AM

Quote:

Originally Posted by Samson (Post 13021409)
Bitcoin is rat poison.
Bitcoin is fixing to die with its hapless fools.
Sad but true.

Maybe, maybe not. However, what does "fixing" mean? At what point does BC not hitting zero disprove your fixing prediction? If I predict a catastrophic market collapse every month for a decade, until the day comes when it actually does occur (again), does that confirm my expertise at market timing?

Scopedog 16th March 2020 07:18 AM

I've got a fever..

...and the only prescription is more algo.

Samson 21st March 2020 01:04 AM

Quote:

Originally Posted by trustbutverify (Post 13021451)
Maybe, maybe not. However, what does "fixing" mean? At what point does BC not hitting zero disprove your fixing prediction? If I predict a catastrophic market collapse every month for a decade, until the day comes when it actually does occur (again), does that confirm my expertise at market timing?

Bitcoiners should have unloaded above 6500

trustbutverify 21st March 2020 07:38 AM

Quote:

Originally Posted by Samson (Post 13027031)
Bitcoiners should have unloaded above 6500

How far above 6500? Because if they sold at 6500, they would have had to live through a 5% jump.

Samson 22nd March 2020 12:58 PM

Quote:

Originally Posted by trustbutverify (Post 13027212)
How far above 6500? Because if they sold at 6500, they would have had to live through a 5% jump.

I take very seriously an algo sell on a monthly chart.
I might have suggested average every 100 above which would give a powerful short. I trade nothing these days by the way which can help objectivity.

psionl0 23rd March 2020 12:22 AM

Quote:

Originally Posted by Samson (Post 13028634)
I take very seriously an algo sell on a monthly chart.

If you hadn't previously given a recommendation to buy after March 12 then your recommendation is useless. Anybody who bought before March 12 would have lost money if they followed your recommendation.

If you were recommending that gamblers short bitcoin after the 6500 mark then you also need to give a buyback date.

Samson 24th March 2020 02:48 AM

Quote:

Originally Posted by psionl0 (Post 13029173)
If you hadn't previously given a recommendation to buy after March 12 then your recommendation is useless. Anybody who bought before March 12 would have lost money if they followed your recommendation.

If you were recommending that gamblers short bitcoin after the 6500 mark then you also need to give a buyback date.

I have never traded bitcoin and stand by my record as consummate advisory apostle.

I now believe bitcoin is going to the moon.

psionl0 24th March 2020 05:22 AM

Quote:

Originally Posted by Samson on 16th March 2020 (Post 13021409)
Bitcoin is fixing to die with its hapless fools.

Quote:

Originally Posted by Samson one week later (Post 13030453)
I now believe bitcoin is going to the moon.

:p

Belz... 24th March 2020 05:24 AM

Quote:

Originally Posted by Samson (Post 13030453)
I have never traded bitcoin and stand by my record as consummate advisory apostle.

I now believe bitcoin is going to the moon.

So you've got no skin in the game.

What's your deal, then?

Mycroft 24th March 2020 08:03 AM

Quote:

Originally Posted by Belz... (Post 13030549)
So you've got no skin in the game.

What's your deal, then?

I'm pretty sure he's just pulling our leg.

Samson 25th March 2020 01:03 AM

Quote:

Originally Posted by Mycroft (Post 13030695)
I'm pretty sure he's just pulling our leg.

No.The simple algorithm predicts 3000 before 14000

The interesting principal behind bitcoin is now to be tested by figuring who owns the money to fix C19

ChrisBFRPKY 23rd April 2020 02:52 PM

Quote:

Originally Posted by Samson (Post 13017480)
I am pleased to see bitcoin crash.
This is not crowing but logical.
The periodic table has finite members.
The crypto world has infinite possible members so bitcoin is a nonsense.
Warren Buffett:
Bitcoin is like rat poison.
Charlie Munger:
Warren likes bitcoin a lot better than I do.

Hahahahaha

Warren Buffett: Bitcoin is like rat poison.

Charlie Munger: Warren likes Bitcoin a lot better than I do.

Warren Buffett: I'm investing 10 billion in Occidental Petroleum stock.

Chris B: Hahahaha

applecorped 23rd April 2020 06:59 PM

Is Bitcoin still The Most Important Creation In The History Of Man?

ChrisBFRPKY 30th April 2020 03:48 AM

I'm still undecided as to its importance, but with a 25% overnight gain if you didn't make at least 15% on your BTC day trading purse last night you have nobody to blame but yourself. The money fairy is definitely back in town and she was making her rounds. Lots of cash purchase new houses with new cars in the drive will come out of that last FOMO session. :thumbsup:

Chris B.

psionl0 2nd May 2020 06:56 PM

Quote:

Originally Posted by ChrisBFRPKY (Post 13073442)
I'm still undecided as to its importance, but with a 25% overnight gain if you didn't make at least 15% on your BTC day trading purse last night you have nobody to blame but yourself. The money fairy is definitely back in town and she was making her rounds. Lots of cash purchase new houses with new cars in the drive will come out of that last FOMO session. :thumbsup:

Chris B.

To be fair, bitcoin is only recovering from a 50% drop 6 weeks ago. Unless you can pick when the spikes will occur, day trading with BTC will be no more successful than with any other commodity.

And for those in it for the long haul, BTC still has to double in price if you wish to recover what was lost in 2017.

ChrisBFRPKY 8th May 2020 03:21 AM

Quote:

Originally Posted by psionl0 (Post 13076656)
To be fair, bitcoin is only recovering from a 50% drop 6 weeks ago. Unless you can pick when the spikes will occur, day trading with BTC will be no more successful than with any other commodity.

And for those in it for the long haul, BTC still has to double in price if you wish to recover what was lost in 2017.

I don't think the oil traders would agree. I'm sure they'd rather have BTC at the moment.

The long haulers could have easily been in the green zone by now if they did a bit of day trading and bought more BTC when it was at bargain prices. Even so, I do believe they will still come out even if they choose to sit on their BTC investment. (The Halvening is growing near)

I can't remember how much I recommended everyone buy in BTC to try it out, if it was $100 or $1000 (and with multiple threads I'm not gonna be bothered to look), but I think those that did should now see about 100% gain. Those that didn't will still be here throwing rocks at BTC. :mad:

I don't think day trading is about knowing where the top of a spike is. It's more about setting a profit per coin goal and resisting the urge to get greedy. Make hay when the Sun shines, it may be raining tomorrow.


Chris B.


Edited to add: Loki coin almost doubled in value last night.

ChrisBFRPKY 8th May 2020 08:01 PM

Americans that bought BTC with their $1200.00 stimulus check now have $1600.00.

There is now a Twitter feed that tracks stimulus check/BTC purchase and its current value, hilarious.

I'd sell back $1300.00 worth now but that's me, bird in the hand.

Chris B.

psionl0 8th May 2020 08:47 PM

Quote:

Originally Posted by ChrisBFRPKY (Post 13083903)
Americans that bought BTC with their $1200.00 stimulus check now have $1600.00.

There is now a Twitter feed that tracks stimulus check/BTC purchase and its current value, hilarious.

I'd sell back $1300.00 worth now but that's me, bird in the hand.

Chris B.

The thing is that you are posting now that the price is on the rise (or rather, in a steady state). You were nowhere to be found when bitcoin lost half of its value virtually overnight several weeks ago.

Bitcoin is a good thing to include in a mix of investments but the old adage about "putting all of your eggs in one basket" still applies.

ChrisBFRPKY 8th May 2020 09:44 PM

Quote:

Originally Posted by psionl0 (Post 13083923)
The thing is that you are posting now that the price is on the rise (or rather, in a steady state). You were nowhere to be found when bitcoin lost half of its value virtually overnight several weeks ago.

Bitcoin is a good thing to include in a mix of investments but the old adage about "putting all of your eggs in one basket" still applies.

I read here daily when there's something to read. I post in the thread when BTC is on the rise to rub salt into the open wounds of the naysayers. I love the fact that Warren Buffet who has been so often quoted here has been served a **** sandwich in the stock market while BTC has continued to recover and gain.

Perhaps I'm just being petty but as a crypto investor who lives with the constant negativity of the naysayers it makes me feel good to say "I told you so".

And to make things worse for the naysayers, if Bitcoin and all other crypto goes bust tomorrow it wouldn't matter to me in the least, I've already reaped my reward from it. Anything extra now is just dessert. :D

Chris B.

psionl0 9th May 2020 03:38 PM

Quote:

Originally Posted by ChrisBFRPKY (Post 13083942)
Perhaps I'm just being petty but as a crypto investor who lives with the constant negativity of the naysayers it makes me feel good to say "I told you so".

I'm with you regarding the naysayers. The amount (and frequency) of the woo used to justify saying "this is the end of bitcoin (this time for sure)" is astounding.

Nevertheless my warning against putting all of your eggs in the one basket still applies. Bitcoin is still a commodity whose ownership is concentrated in relatively few hands and is susceptible to frequent bouts of (suspected) price manipulation.

ChrisBFRPKY 9th May 2020 08:50 PM

Flash crash! Time to take that $1300.00 you cashed out and buy back in!

Chris B.

novaphile 9th May 2020 09:13 PM

Quote:

Originally Posted by ChrisBFRPKY (Post 13084797)
Flash crash! Time to take that $1300.00 you cashed out and buy back in!

Chris B.

Wow. Someone was waiting for the price to hit $10k to sell.

ChrisBFRPKY 10th May 2020 08:47 AM

It's a magic number. After the March drop a lot of $5K BTC was purchased. Bird in the handers sold at 2X their investment. Not a bad return. It's hard to find a 2% 1 year CD these days and it's unlikely to find one that'll pay 100% for a term of a few weeks like BTC just did.

Chris B.

psionl0 10th May 2020 01:24 PM

Quote:

Originally Posted by ChrisBFRPKY (Post 13085167)
It's a magic number. After Just before the March drop a lot of $5K $10K BTC was purchased. Bird in the handers sold at 2X their investment broke evem.

ftfy.

Picking the right point in time makes a lot of difference. Anybody who purchased in December 2017 is still kicking themselves.

ChrisBFRPKY 14th May 2020 11:41 PM

Choosing Time! For those that used their $1300 and bought back in on May 9th, you now have another 12% gain. Either cash out all or part of it to be safe and walk away a winner now. Bird in handers will probably cash in $1300 worth (the original $1200 + $100 profit) and let the remaining BTC balance ride.

Those who bought in at the top in 2017 and have done nothing to strengthen their position from the previous BTC all time high will probably continue to wait. These folks will likely sell the moment the price of BTC reaches the price they paid, or just short of $20k. There are several magic numbers to get thru before then though.

Chris B.

Samson 15th May 2020 01:43 PM

Quote:

Originally Posted by ChrisBFRPKY (Post 13090930)
Choosing Time! For those that used their $1300 and bought back in on May 9th, you now have another 12% gain. Either cash out all or part of it to be safe and walk away a winner now. Bird in handers will probably cash in $1300 worth (the original $1200 + $100 profit) and let the remaining BTC balance ride.

Those who bought in at the top in 2017 and have done nothing to strengthen their position from the previous BTC all time high will probably continue to wait. These folks will likely sell the moment the price of BTC reaches the price they paid, or just short of $20k. There are several magic numbers to get thru before then though.

Chris B.

A kind of pilgrim's progress.

Roger Ramjets 15th May 2020 06:29 PM

Quote:

Originally Posted by ChrisBFRPKY (Post 13090930)
Choosing Time! For those that used their $1300 and bought back in on May 9th, you now have another 12% gain. Either cash out all or part of it to be safe and walk away a winner now. Bird in handers will probably cash in $1300 worth (the original $1200 + $100 profit) and let the remaining BTC balance ride.

$100 profit. Woohoo, I'm rich!

Dr.Sid 15th May 2020 06:35 PM

Quote:

Originally Posted by Roger Ramjets (Post 13091808)
$100 profit. Woohoo, I'm rich!

Well, better than $100 loss. :thumbsup:

ChrisBFRPKY 20th May 2020 12:16 PM

Can't a person move 50 measly Bitcoin without setting off a World-wide panic?

Chris B.

psionl0 20th May 2020 08:10 PM

Quote:

Originally Posted by ChrisBFRPKY (Post 13090930)
Choosing Time! For those that used their $1300 and bought back in on May 9th, you now have another 12% gain.

We must be looking at different charts. On May 10 the price fell by nearly 20% and recovered by May 14. It's been pretty much "steady as she goes" since.

https://coinalyze.net/bitcoin/usd/co...ce-chart-live/

Roger Ramjets 20th May 2020 10:41 PM

Price Drops 7% in an Hour After Bitcoin Sees a Ghost
Quote:

Bitcoin was spooked by a ghost Wednesday, tumbling 7% in the span of an hour on reports a previously inactive address dating to the blockchain network’s earliest days had transferred more than $300,000 of the cryptocurrency...

The sudden drop came as crypto traders lit up Twitter after bitcoin blockchain data showed the address, inactive for 11 years, had moved up 50 BTC to different wallets, then another 9.99 BTC earlier in the day. The address' owner is unknown at present but the coins were valued at around $379,200 at press time.
A mere $379,200? Not a good sign. This suggests that Bitcoin's 'value' is largely speculative, and the bottom could drop out at any time. Just imagine what will happen when Satoshi Nakamoto cashes in his 980,000 Bitcoins!

Samson 21st May 2020 05:23 AM

Quote:

Originally Posted by Roger Ramjets (Post 13097388)
Price Drops 7% in an Hour After Bitcoin Sees a Ghost

A mere $379,200? Not a good sign. This suggests that Bitcoin's 'value' is largely speculative, and the bottom could drop out at any time. Just imagine what will happen when Satoshi Nakamoto cashes in his 980,000 Bitcoins!

For a moment putting to one side the technical picture, the fundamentals never change.
There is an infinite supply of digital money.
It is a matter of time to patiently watch infinite supply catastrophically atrophy demand.

Rat poison .

psionl0 21st May 2020 05:34 AM

Quote:

Originally Posted by Samson (Post 13097585)
For a moment putting to one side the technical picture, the fundamentals never change.
There is an infinite supply of digital money.
It is a matter of time to patiently watch infinite supply catastrophically atrophy demand.

Rat poison .

Did you forget that this crap has already been rebutted many times before?

Samson 21st May 2020 06:09 AM

Quote:

Originally Posted by psionl0 (Post 13097594)
Did you forget that this crap has already been rebutted many times before?

The rebuttals don't work.
There is a finite quantity of gold in the universe.
There is an infinite quantity of digital gold in the universe.

I can always find more rat poison, I do every year in my glass houses, the rats disappear despite my love of nature except where it screws my income.

psionl0 21st May 2020 06:14 AM

Quote:

Originally Posted by Samson (Post 13097628)
The rebuttals don't work.
There is a finite quantity of gold in the universe.
There is an infinite quantity of digital gold in the universe.

Yeah, you just keep telling yourself that. :rolleyes:

Quote:

Originally Posted by Samson (Post 13097628)
I can always find more rat poison, I do every year in my glass houses, the rats disappear despite my love of nature except where it screws my income.

There is only one bitcoin and its price isn't going to drop just because somebody adds another crypto to the many that already exist.

Samson 21st May 2020 06:26 AM

Quote:

Originally Posted by psionl0 (Post 13097635)
Yeah, you just keep telling yourself that. :rolleyes:


There is only one bitcoin and its price isn't going to drop just because somebody adds another crypto to the many that already exist.

There is only one gold on the periodic table and that guarantees unique attribution.
There is only one bitcoin but identical clones are bound to be made.
Not so with gold.

Dr.Sid 21st May 2020 06:39 AM

Quote:

Originally Posted by Samson (Post 13097655)
There is only one gold on the periodic table and that guarantees unique attribution.
There is only one bitcoin but identical clones are bound to be made.
Not so with gold.

It's easy to create new currency. It's not easy to give it value. It's not like printing money. Money already have value. Sure, if you create more, you are lowering it, but the new pieces automatically have substantial value when they are created. Same with gold.
Gold already has agreed value. Newly mined gold has the same value. If you transmute lead by neutron bombarding into gold, the gold has the same value.
But if you create new currency, it has no value at all. It's like saying 'everybody can draw expensive painting, therefore art trading is pointless'.

ChrisBFRPKY 21st May 2020 09:22 AM

Quote:

Originally Posted by psionl0 (Post 13097304)
We must be looking at different charts. On May 10 the price fell by nearly 20% and recovered by May 14. It's been pretty much "steady as she goes" since.

https://coinalyze.net/bitcoin/usd/co...ce-chart-live/

BTC charts on May 10 thru May 14th have nothing to do with the dates I advised actions.
I advised a sell off on May 8th, a buy back on May 9th and a choice for May 15th at the time of my postings. Percentages mentioned in my posts were based on live pricing at that time and were spot on winners.

Viewing the price increases and decreases between those dates is inconsequential. The only dates that matter are when the profit percentages add up and you push the button to take action one way or the other. The price you pay on the day you buy and the price you receive on the day you sell.

Chris B.

ChrisBFRPKY 21st May 2020 09:25 AM

Quote:

Originally Posted by Samson (Post 13097655)
There is only one gold on the periodic table and that guarantees unique attribution.
There is only one bitcoin but identical clones are bound to be made.
Not so with gold.

You do know that gold is a precious metal and that there are lots of other precious metals right?

Chris B.


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