# Bitcoin #

udo's picture
udo started the topic in Wednesday, 15 Nov 2017 at 3:49pm

The Bitcoin graph looks Interesting ! ?

Topsy's picture
Topsy's picture
Topsy commented Monday, 24 Jun 2019 at 9:05pm

Things are hotting up

indo-dreaming's picture
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indo-dreaming commented Tuesday, 25 Jun 2019 at 4:21pm

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

Blowin's picture
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Blowin commented Tuesday, 25 Jun 2019 at 5:07pm

Are you still in , Indo ?

indo-dreaming's picture
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indo-dreaming commented Wednesday, 26 Jun 2019 at 8:34am

Who me?....

Im sadly not in Indo, but will be end of next month and all of August :D

udo's picture
udo's picture
udo commented Wednesday, 26 Jun 2019 at 12:18pm

$17000

Topsy's picture
Topsy's picture
Topsy commented Wednesday, 26 Jun 2019 at 12:25pm

Buying now would be risky, a correction is expected.....
but this is crypto, anything could happen
Not financial advice DYOR

indo-dreaming's picture
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indo-dreaming commented Wednesday, 26 Jun 2019 at 3:23pm

Over 18K Aud

udo's picture
udo's picture
udo commented Thursday, 27 Jun 2019 at 5:02am

Still rising $19700

Craig's picture
Craig's picture
Craig commented Thursday, 27 Jun 2019 at 7:52am

Bubble is blowing back up again..

shoredump's picture
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shoredump commented Thursday, 27 Jun 2019 at 1:43pm

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

indo-dreaming's picture
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indo-dreaming commented Thursday, 27 Jun 2019 at 6:56pm

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.

Topsy's picture
Topsy's picture
Topsy commented Thursday, 27 Jun 2019 at 7:46pm

@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

indo-dreaming's picture
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indo-dreaming commented Thursday, 27 Jun 2019 at 8:35pm

@Topsy

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.

Topsy's picture
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Topsy commented Thursday, 27 Jun 2019 at 9:33pm

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.

indo-dreaming's picture
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indo-dreaming commented Thursday, 27 Jun 2019 at 10:44pm

Cheers will check that site out.

Blowin's picture
Blowin's picture
Blowin commented Friday, 28 Jun 2019 at 12:27pm
Topsy's picture
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Topsy commented Saturday, 29 Jun 2019 at 10:44am

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.....

Topsy's picture
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Topsy commented Saturday, 29 Jun 2019 at 10:54am

https://podcasts.apple.com/au/podcast/the-joe-rogan-experience/id3600842...

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 :)

udo's picture
udo's picture
udo commented Thursday, 4 Jul 2019 at 9:29am

Topsy or others i hope you werent with Coinexx .org ?

Topsy's picture
Topsy's picture
Topsy commented Thursday, 4 Jul 2019 at 1:27pm

No, they didnt get me

indo-dreaming's picture
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indo-dreaming commented Thursday, 4 Jul 2019 at 3:14pm

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

Blowin's picture
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Blowin commented Saturday, 13 Jul 2019 at 8:59am

.

velocityjohnno's picture
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velocityjohnno commented Monday, 5 Aug 2019 at 2:08pm

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:

https://www.zerohedge.com/news/2019-08-04/currency-war-begins-chinese-yu...

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...

velocityjohnno's picture
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velocityjohnno commented Wednesday, 14 Aug 2019 at 10:07pm

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).

https://twitter.com/RaoulGMI/status/1159076340005515264

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:

https://www.youtube.com/watch?v=xjALaiew_9g

https://www.youtube.com/watch?v=OA_CndlBu0g

velocityjohnno's picture
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velocityjohnno commented Tuesday, 20 Aug 2019 at 4:02pm

while this thread is more about the carrot, the stick is becoming more visible:

https://www.abc.net.au/news/2019-08-20/transacting-$10,000-or-more-in-cash-could-make-you-a-criminal/11429230

the whole link doesn't seem to work, so cut & paste it into new browser

Patrick's picture
Patrick's picture
Patrick commented Friday, 6 Sep 2019 at 6:51pm

McAfee is betting heavily on BTC hitting one mill by end of 2020.
http://www.dickening.com/?fbclid=IwAR3PTcn0WBqktKP5vRh8wopj4wASA9B6ykl_2...

Topsy's picture
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Topsy commented Wednesday, 18 Sep 2019 at 12:20pm

LOL dickening.com... love it

Westofthelake's picture
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Westofthelake commented Wednesday, 18 Sep 2019 at 1:13pm

haha, that's one cocksure bet.....big call or nothing to lose?

indo-dreaming's picture
indo-dreaming's picture
indo-dreaming commented Thursday, 19 Sep 2019 at 8:24pm

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

Blowin's picture
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Blowin commented Thursday, 19 Sep 2019 at 8:51pm

Now THAT will pay dividends.

Blowin's picture
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Blowin commented Thursday, 19 Sep 2019 at 9:03pm

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

velocityjohnno's picture
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velocityjohnno commented Friday, 20 Sep 2019 at 5:51pm

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.)

Purplepills's picture
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Purplepills commented Saturday, 12 Oct 2019 at 9:31am

Perth Mint Blockchain crypto backed by GOLD... interesting

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ojackojacko commented Wednesday, 23 Oct 2019 at 5:54pm