Submitted by udo on Wed, 11/15/2017 - 15:49
The Bitcoin graph looks Interesting ! ?
Things are hotting up
Over $16K got to say i am surprised.
Even if it does a huge drop, it will give a lot of people confidence that it's not going to totally die.
To be honest i am surprised, i never thought it would get over $10K again Aud especially USD
Are you still in , Indo ?
Im sadly not in Indo, but will be end of next month and all of August :D
Buying now would be risky, a correction is expected.....
but this is crypto, anything could happen
Not financial advice DYOR
Over 18K Aud
Still rising $19700
Bubble is blowing back up again..
Yeah, that’s what it’s been doing for 10 years. I wonder if history will repeat and it grows even bigger, like after all the previous crashes. Did we come late or did we come early here on swellnet. No one knows hey
I got brave today and checked my crypto balance it was all in alts, still way down about 2k from 5k which at one point got as high as 18k
Put what i have all into teether (basically a stable coin)
As after doing a bit of research seems 14K USD is the area of residence and it didn't break it and has dropped too about 12K USD
Really cant see how it can break 14K and continue rising in price without the volume and hype.
If it does oh well fuck it...but one thing ive learnt is there is only one guarantee in crypto and that after a good rise in price there will be a big drop in price sooner or latter.
Also discovered some crypto (not much) i had on one exchange Crytopia got hacked a few months ago and went bankrupt.
So yes the journey continues.
@indo Dont expect much from alts until Bitcoin finds support and settles down a bit. Alt season will come
A correction to somewhere between 9.5 to 10.5K USD is healthy for BTC. This is what we want not another bubble
Are you in a signal type group or recommend a good one?
I need too get more pro-active and start buying and selling (no new money) but dont have the time or enthusiasm or expertise to do it without a group.
Ive seen a few on social media, obviously need to pay a little to be a member, dont mind paying a little and giving it a proper go rather than just sit back and watch.
Hey indo, I am a lifetime member here https://www.coinvision.co/
The Discord channel is where all discussion takes place and Im pretty sure that free accounts get access to the main and trading discussion at the very least. I am also a member at Nuggets News, which is a good Australian site that that costs me $50 per month. I dont feel like I am getting enough value for money there and will cancel soon but to be fair I dont put as much time into it as I do with coinvision and it is good for beginners. Nuggets free youtube channel is pretty good. There are also some that are worth following on crypto twitter but I generally find it too noisy and opinionated. It is ok for getting an idea of what is the flavour of the month.
The best place to get a good trading foundation is cryptocred’s youtube channel. He is a legend in the space. I also like Rayner Teo (also on youtube) if I need an explanation of a particular technical chart pattern.
After saying that I also need to say that Bitcoin can destroy textbook T/A in the blink of an eye so you always need to be careful. Cred’s wisdom really helps with that.
I am wary of purely signal groups and have not looked into any myself. I think good ones are quite expensive too. I prefer to keep up to date with the trading discussion on coinvision, get an idea of the market and decide for myself. If you want I can give you a couple to follow on twitter.
Cheers will check that site out.
Maybe interesting for bitcoin crew
If anyone is keen to get a better idea of the pro blockchain argument George Gilders book Life After Google is excellent. Its not the lightest read but not excessively difficult either. I listened to the audiobook version. If you dont want to read the whole thing there is also a podcast that covers quite a lot of it here: https://stacks.co/podcast/episodes/3 I posted link to it a week or 2 ago but did not really elaborate so here it is again. George has a very good track record in predicting future tech and I plan on exploring his back catalogue when I get the time.
*I found him easier to listen to the further I got into the podcast. He has an incredibly sharp mind for any age but for someone in their late 70s.....
This one is a more accessible chat about the problems we face due to centralization and a whole lot more. I highly recommend it. I’m a big fan of Naval. The first 5 minutes or more is just advertising crap. I was not too sure about Joe Rogan to begin with but he asked some good questions. I hope to hear some opinions here :)
Topsy or others i hope you werent with Coinexx .org ?
No, they didnt get me
I saw a comment under a youtube video today saying it will die because it's so volatile and manipulated.
Which got me thinking, i really dont think it will ever die, unless its banned somehow all over the world, its actually the volatility and manipulation that keeps it alive.
Volatility makes it attractive to trade and the real money comes in from those big players that manipulate it, which in turn creates big volatility, when they buy in big and cash out big, there is never any reason for them to stop doing this.
But i also dont think it will every get over 20KUSD again, all the money in it now is from traders or small geek types, most of these people will be cashing out before it hits the previous peak.
A great deal are making money off the high percentage changes that happen at lower prices, but decrease with as prices rise.
And to ever get to it's previous high it would need a high volume of money and crazy people to buy towards the previous high.
And why would you do that, when you know it's going to drop again?
For it to keep raising in price, you need a real lot of people to believe it's going to keep going up, and then you need a whole lot of people mohave the money to keep buying at higher prices.
All pretty obvious now :D
Here we go people, might get to see a real time test of a BTC surge, a lot happening around news that might have been distracting over the weekend:
logic being: observation that it tends to surge with inflows of Chinese money as that tries to escape China - now we have HK protests, rumours of army going in, and the currency deval in the article above. If you have made money/assets in China and want to get it out, how to do so where the government might not see it, hmmmm...
I particularly liked the link I am about to attach for its description of bitcoin as a 'call option on a new system' and his use of a log scale when trying to dull the extremes in price. I note the log price chart correlates somewhat with the S curve of total bitcoins mined (slowing as we reach closer to 21 million at present).
Otherwise, read it and weep. We are at something of an important juncture. BIS has also made gold a tier 1 reserve, up from tier 3, equal to USD... Party like it's 1997!
Keep these ready to play at full blast:
while this thread is more about the carrot, the stick is becoming more visible:
the whole link doesn't seem to work, so cut & paste it into new browser
McAfee is betting heavily on BTC hitting one mill by end of 2020.http://www.dickening.com/?fbclid=IwAR3PTcn0WBqktKP5vRh8wopj4wASA9B6ykl_2...
LOL dickening.com... love it
haha, that's one cocksure bet.....big call or nothing to lose?
My crypto journey has come to an end, it's been a rollercoaster ride, but i cashed out a while back when things were up a little, i just couldn't be bothered with it anymore and don't believe in its future.
Put the money left and some more into a good sized tinny, just in time for snapper season :D
Now THAT will pay dividends.
VJ - The Anti Cash Bill is deeply disturbing.
Criminalising the utilisation of legal tender FFS.
Graphically illustrates the direction that the government knows the economy is headed. https://en.m.wikipedia.org/wiki/Executive_Order_6102
Blowin is that a real bill? I remember looking something like that up, was it >9K that triggered it? So say I go in to buy a top notch turbo diesel HJ61, pay 10K of my savings in cash, I go to prison? Or - if I get a bankcheque I do not? Or, if I do a direct transfer from my account to theirs I do not? Wow man, imagine if I go to prison for transferring even via banks. That will be a world away from me freely driving the HJ61 on the beach with my boards in the back... Maybe I misunderstand at present.
(Can see a big market for 8990 cars if this is the case haha)
I would have thought if you go through all the pain of being a saver (save your earnings, get paid 1% on it when inflation higher than this, watch everyone who gets a loan have the big house and BMW) you should be free to spend it exactly how you wish, as much as you wish.
Now 6102, what a bill that was. FDR effectively devalued the USD overnight. It was 20.67/oz, arbitrarily redefined as 35 an ounce. Effectively, it saw the currency devalue - if they had a set amount of reserves of gold in tonnes, and a supply of currency tied to it; now they could have about 70% more currency in circulation with the same reserves. Like printing money. Like QE.
It was intended to juice the economy with a shot in the arm. Picture it, heaps of extra dollars floating around out there, prices go up, wages go up, inflation, happiness. Like Keynes in that vid in the other thread.
Not many people turned in their gold, about 4% I read. Most kept it underground. Children and grandchildren got to see the benefit. Those St Gaudens are the most beautiful coins ever minted, too. The ruling was overturned by the mid 1970s (and what happened to the gold price then?)
Like all pegs set by central planners, ultimately they couldn't hold the peg. Look up the story on the peg being defended on the London Gold exchange in the 1960's, (after DeGaulle smelled a rat and began to call in the gold his USD holdings had) and its failure in 1968. That set off the dominoes that led to Nixon breaking the link of USD to gold in 1971. (Kissenger replaced this link with oil to USD - the petrodollar. Result has been, well, the foreign policy we've seen in our lifetimes and all the lives lost and countries torn apart. Wouldn't it have been nicer to stick to the gold standard, and temper the spending/issuing of loans?)
Back to the cash bill, think of negative rates. Yay, my 10K in the bank earns -1.5%! Next year I'll have 9850. Hooray! Hmmm, I'd be better holding it in cash, $150 better, to be precise. Joe Average everywhere realises this at once. What happens to bank deposits? You got it, a bank run.
However, if it's illegal to use cash at certain sizes, then this might dissuade this. If it means prison if you get caught with that much cash on you, wow. Does it?
So, whereaway to go? Now this is the bitcoin thread....
(Blockchain presents its own challenges to the anonymity of cash, for every transaction is traced.... I wonder who might like that? I bet tradies won't.)
Perth Mint Blockchain crypto backed by GOLD... interesting