Merged Bitcoin - Part 3

Samson said:
Bitcoin is rat poison.
Bitcoin is fixing to die with its hapless fools.
Sad but true.
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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?
 
I've got a fever..

...and the only prescription is more algo.
 
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trustbutverify said:
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?
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Bitcoiners should have unloaded above 6500
 
trustbutverify said:
How far above 6500? Because if they sold at 6500, they would have had to live through a 5% jump.
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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.
 
Samson said:
I take very seriously an algo sell on a monthly chart.
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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.
 
psionl0 said:
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.
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I have never traded bitcoin and stand by my record as consummate advisory apostle.

I now believe bitcoin is going to the moon.
 
Mycroft said:
I'm pretty sure he's just pulling our leg.
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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
 
Samson said:
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
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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
 
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.
 
ChrisBFRPKY said:
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.
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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.
 
psionl0 said:
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.
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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.
 
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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.
 
ChrisBFRPKY said:
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.
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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.
 
psionl0 said:
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.
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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.
 
ChrisBFRPKY said:
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".
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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.
 
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.
 
ChrisBFRPKY said:
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.
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ftfy.

Picking the right point in time makes a lot of difference. Anybody who purchased in December 2017 is still kicking themselves.
 
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.
 
ChrisBFRPKY said:
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.
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A kind of pilgrim's progress.
 
ChrisBFRPKY said:
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.
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$100 profit. Woohoo, I'm rich!
 
Price Drops 7% in an Hour After Bitcoin Sees a Ghost
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.
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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!
 
Roger Ramjets said:
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!
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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 .
 
Samson said:
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 .
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Did you forget that this crap has already been rebutted many times before?
 
psionl0 said:
Did you forget that this crap has already been rebutted many times before?
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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.
 
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Samson said:
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.
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Yeah, you just keep telling yourself that. :rolleyes:

Samson said:
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.
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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.
 
psionl0 said:
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.
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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.
 
Samson said:
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.
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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'.
 
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psionl0 said:
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/coinbase/price-chart-live/
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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.
 
Samson said:
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.
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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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