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Old 11th September 2019, 07:32 PM   #161
ChrisBFRPKY
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Originally Posted by Roger Ramjets View Post
Perhaps, but for John Mcafee's sake it needs to go much higher than $20k.

So far it's not looking good...

Bitcoin Price Prediction Tracker
As long as it stays above $300, I'm good.

Chris B.
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Old 11th September 2019, 10:15 PM   #162
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Originally Posted by Roger Ramjets View Post
Perhaps, but for John Mcafee's sake it needs to go much higher than $20k.
Predicting a massive price rise within a relatively short period of time is as foolish as predicting that this time bitcoin really will crash forever.
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Old 14th September 2019, 05:03 PM   #163
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My coworker has made 100k or so with both bitcoin and altcoin. I heard that he bought 6 bitcoins just before the bump. I still prefer blackjack. Am up 1600 this year though I would have made more money betting on bitcoins
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Old 14th September 2019, 05:06 PM   #164
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Originally Posted by psionl0 View Post
I can't add much to what I said in post #115. NOBODY knows what will happen next and don't let anybody here tell you otherwise.
I think that there are some people that are getting accurate advice and making money
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Old 15th September 2019, 11:54 PM   #165
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Originally Posted by MinnesotaBrant View Post
I think that there are some people that are getting accurate advice lucky and making money
ftfy.
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Old 16th September 2019, 04:14 AM   #166
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Well in 2017 you didnt really have to be lucky to make money on bitcoin. I made over 100% and i sold 2 days after peak, when the crash was quite clear. If I sold sooner, I'd made 200%.
So it really depends what time are you talking about. In general, BTC is as predictable as dice. It's really funny reading analyses and predictions one year back.
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Old 16th September 2019, 05:34 AM   #167
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Originally Posted by MinnesotaBrant View Post
My coworker has made 100k or so with both bitcoin and altcoin.
Ah, damn. One of those spambots, again!


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Old 16th September 2019, 05:40 AM   #168
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Bitcoin and other Crypto is notorious for price manipulation. There seems to be another hype going on that will make some people rich.
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Old 16th September 2019, 07:48 AM   #169
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Originally Posted by The Great Zaganza View Post
Bitcoin and other Crypto is notorious for price manipulation. There seems to be another hype going on that will make some people rich.
Here we go again. Somebody else who "knows" that bitcoin is a scam run by some shadowy cabal.
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Old 16th September 2019, 07:53 AM   #170
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Originally Posted by psionl0 View Post
Here we go again. Somebody else who "knows" that bitcoin is a scam run by some shadowy cabal.
not at all what I said.
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Old 16th September 2019, 08:44 AM   #171
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Originally Posted by The Great Zaganza View Post
not at all what I said.
There is no price manipulation? There is no hype going on?
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Old 16th September 2019, 09:02 AM   #172
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Originally Posted by psionl0 View Post
There is no price manipulation? There is no hype going on?
let's keep the hype about the currency itself and it's propensity for manipulation separate, shall we?
I don't think Bitcoin itself is the best way to have a cryptocurrency, but the general idea is solid - at this point it is far more than a hype, it is a fixture.

But we frequently get Pump and Dump scams (https://en.bitcoinwiki.org/wiki/Pump_and_Dump), and the current kind of news about how high/low Bitcoin will go sounds to me like the preparation for exactly such a scam.
Yes, short-term price manipulation is something common in cryptocurrencies, especially the smaller ones.
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Old 16th September 2019, 09:43 AM   #173
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What do you mean by "current kind of news about how high/low Bitcoin will go" ?

Specialized servers have news like this every day.
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Old 16th September 2019, 09:44 AM   #174
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Originally Posted by The Great Zaganza View Post
But we frequently get Pump and Dump scams (https://en.bitcoinwiki.org/wiki/Pump_and_Dump), and the current kind of news about how high/low Bitcoin will go sounds to me like the preparation for exactly such a scam.
Assuming that the few examples in that reference are actual pump and dump schemes, none of them are bitcoin.

Even then, it is just as likely that these examples of relatively unknown cryptos were cherry picked because they saw a sudden large price rise followed by an equally quick fall in price - ergo "pump and dump".

My dog might have 4 legs but that doesn't make it a cat.
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Old 16th September 2019, 03:25 PM   #175
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Some people are good at playing the bitcoin market just like the stock market. That’s what he made this year and has been playing continuously for the past 2 years or so
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Old 16th September 2019, 03:30 PM   #176
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well look at that,
if I had ignored the naysayers I might have been in profit, grr.
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Old 19th September 2019, 05:19 PM   #177
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Looking to buy like 30 bucks of coin. Should I use coinbase? How about ripple? I am getting the feeling that the coins are pretty flat right now
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Old 19th September 2019, 07:18 PM   #178
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Originally Posted by MinnesotaBrant View Post
I am getting the feeling that the coins are pretty flat right now
That's better than TA anyhow.
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Old 19th September 2019, 10:34 PM   #179
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https://getpocket.com/explore/item/h...=pocket-newtab
Quote:
bitcoin re-creates the market mechanisms of gold, a currency that invites hoarding and speculation while discouraging transactions.
Quote:
4 percent of users owning 96 percent of bitcoin
Quote:
What happens when all the bitcoin is mined? Bitcoin transactions are authenticated by the thousands of people who dedicate their computers and electricity to building the blockchain. They’re not donating all this money and computing power; they are being paid in bitcoin. Mining for bitcoin and authenticating transactions is the same thing.

What is the incentive for people to spend millions of dollars on computers and power once there’s no more kickback of coin?
Quote:
The money itself is worthless. Less than worthless, in fact. We are spending massive amounts of machine cycles and electricity, burning fossils fuels for no reason other than to prove our commitment to the coin.
If the US dollar were a good investment, we wouldn't spend it on stocks, real estate, gold, or bit coins, we'd just keep it as is. If it were a really really good investment, we'd forgo spending it on haircuts, car repairs, and restaurants and the economy would grind to a halt.
Thank goodness the US dollar is a terrible investment, that is one of the reasons it remains the most useful currency in the world.
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Old Yesterday, 04:34 AM   #180
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Originally Posted by portlandatheist View Post
All points but the last are valid. As long as people are willing to pay for bitcoin, it is not worthless. If bitcoin is still around when the only reward for mining is the transaction fees then either the transaction fees will rise dramatically or the energy expended on mining will drop significantly.

Originally Posted by portlandatheist View Post
If the US dollar were a good investment, we wouldn't spend it on stocks, real estate, gold, or bit coins, we'd just keep it as is. If it were a really really good investment, we'd forgo spending it on haircuts, car repairs, and restaurants and the economy would grind to a halt.
Thank goodness the US dollar is a terrible investment, that is one of the reasons it remains the most useful currency in the world.
Yes, any currency that is not subject to demurrage or inflation and on which fees must be paid for every transaction is not particularly useful. Worse, bitcoin doesn't scale so the rate of transactions is permanently limited.

It will be up to a future crypto to address these problems but as usual, this is old news.
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Old Yesterday, 08:23 PM   #181
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Went on coinbase to buy 100 bucks of bitcoin and my bank deactivated my card. I am not brave enough yet to link my bank account to it.

I think the fees scale. 50 bucks of bitcoin generated a 2 dollar fee and 100 bucks of bitcoin is 4 bucks. 4% fee per transaction
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Old Yesterday, 09:17 PM   #182
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Originally Posted by psionl0 View Post
All points but the last are valid. As long as people are willing to pay for bitcoin, it is not worthless. If bitcoin is still around when the only reward for mining is the transaction fees then either the transaction fees will rise dramatically or the energy expended on mining will drop significantly.


Yes, any currency that is not subject to demurrage or inflation and on which fees must be paid for every transaction is not particularly useful. Worse, bitcoin doesn't scale so the rate of transactions is permanently limited.

It will be up to a future crypto to address these problems but as usual, this is old news.
yes, I agree. The value of something is whatever somebody is willing to pay for it.
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Old Yesterday, 10:03 PM   #183
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Originally Posted by MinnesotaBrant View Post
I think the fees scale. 50 bucks of bitcoin generated a 2 dollar fee and 100 bucks of bitcoin is 4 bucks. 4% fee per transaction
That's not what "scale" means. It means that more nodes/miners doesn't mean that we can get more transactions per block.

That's quite a markup your vendor is adding. Current fees are about 0.0001 BTC per transaction or 0.15% of the value of each transaction.
https://www.blockchain.com/btc/block...997c77791579e8
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Old Today, 02:11 AM   #184
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Originally Posted by psionl0 View Post
That's better than TA anyhow.
No it is not, TA on bitcoin that I have catalogued on this thread is very reliable.
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Old Today, 06:41 AM   #185
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Originally Posted by Samson View Post
No it is not, TA on bitcoin that I have catalogued on this thread is very reliable.
You mean reliably wrong?
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