# Bitcoin #

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

The Bitcoin graph looks Interesting ! ?

Purplepills's picture
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Purplepills commented Wednesday, 17 Jan 2018 at 7:20am
indo-dreaming's picture
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indo-dreaming commented Wednesday, 17 Jan 2018 at 8:50am

Well hopefully that was the bottom, but read Bitcoin could go as low as 8K before bouncing back.

If you actually look at the charts for the last few years the market has had a huge dip at this very time coming up to lunar New Year in China and South Korea as they holiday for almost a month.

Could take weeks to recover though.

Optimistically although Bitcoin is way down, most of the alt prices I'm in are still similar or better than they were a few weeks ago, like POWER, ADA, OMG, GAS, NEO. but expect will bled some more if money goes back to bitcoin before it all rises.

I think it's important to remember whales control the market but they don't want to destroy the market, they make big money from all this, they sell off drive prices down people panic sell, whales buy back up, prices rise people chase the train again pushing prices back up.

For me this is just a lesson that i do need to get more serious I need to be more active and not just take a hodl approach on everything i do need get a good chunk off Coinspot and get it onto exchanges so i can set stop loses, not just for big drops but also to take profit at at the top so i can buy back in at these times.

All a learning experience.

On Bitcoin, my personal views are 2018 is not going to be anywhere as productive skeptical it will be able to push past 30K, i think more $$$ is going to go into ETH and the ALTS, I'm calling ETH to hold the number one spot in market cap by the end of the year. (but not highest price)

I think by the years end Bitcoin will only make up 10% of the overall market cap, not saying it will die, but it wont be so dominant or have as much influence on the market.

Maybe if the lighting network makes it cheap and fast to use again it might change things though.

Purplepills's picture
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Purplepills commented Wednesday, 17 Jan 2018 at 9:25am

Indo dead cat bounce, as i said before it can be replicated.

Pigdog2's picture
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Pigdog2 commented Wednesday, 17 Jan 2018 at 12:00pm

As if the global banking systems were ever going to allow govt's to NOT protect their interests......get ready for the slippery slide....

http://www.afr.com/technology/bitcoin-is-just-another-ecurrency-failure-...

blindboy's picture
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blindboy commented Wednesday, 17 Jan 2018 at 12:12pm

My first sell call, I believe, was at the top of the market. My advice now is still sell.

donweather's picture
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donweather commented Wednesday, 17 Jan 2018 at 12:32pm

I'm not worried. It's not my money I'm playing with now so this is just all part of the roller coaster ride. And Indo I have always said BTC will not be the dominant marketcap crypto. It's useless in the real world transaction space. Another better crypto will become the dominant market capper.

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H2O commented Wednesday, 17 Jan 2018 at 5:26pm
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H2O commented Wednesday, 17 Jan 2018 at 5:29pm

Ha- see already posted

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peterb commented Wednesday, 17 Jan 2018 at 5:49pm

Everyone here still sounds like a winner ... what's the magic?

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geoffrey commented Wednesday, 17 Jan 2018 at 6:00pm

yea about that don,

if i can give you a small piece of advice only because i have been in the same situation on more than one occasion in the past,

it sounds good in theory (the freecarried not my money justification) but when you look back a few months after the fact and you did lose that dough that 'wasn't yours' you'll be absolutely kicking yourself. and then some. by no means am i saying cash in, just don't underestimate your emotional connection to that money that 'isn't yours'.

your not the old don from realsurf are you?

indo-dreaming's picture
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indo-dreaming commented Wednesday, 17 Jan 2018 at 6:01pm

That article was already posted above.

Someone should tell him that even though napster is not around there are plenty of free music streaming service and movie streaming services both legal and illegal.

And that most news websites don't have paywalls.

Im not really a fan of Bitcoin i don't own any and i don't use it because it's too expensive and slow only time i buy it is to use it to buy other alts on an exchange, if I'm going to transfer funds i use a cheap fast crypto.

Sure Bitcoin has first market advantage and the name, but i agree it's highly likely it will be replaced, and is not going to be the first real widely used crypto by the mainstream.

But to call it a failure is silly, bitcoin has brought crypto to the attention of the world and it's created a whole marketplace all of which pushes the development of these technologies and has helped pave the way into the future, Bitcoin is part of journey but its not the destination.

indo-dreaming's picture
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indo-dreaming commented Wednesday, 17 Jan 2018 at 6:03pm

@ Donweather this is a good little read

https://www.bitbullcapital.com/blog/the-perennial-dip

Topsy's picture
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Topsy commented Wednesday, 17 Jan 2018 at 6:52pm

@peterb buy in to WELL RESEARCHED icos. Hold and wait as they develop their business, app, market etc. The 3 most profitable coins are the ones I have held longest. They are still way up despite the market fall.

Topsy's picture
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Topsy commented Wednesday, 17 Jan 2018 at 7:02pm

Article on Australian crypto taxation
https://www.dmarge.com/2018/01/minimising-tax-bitcoin.html
A good reason to hold if you are that way inclined.

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joakse commented Wednesday, 17 Jan 2018 at 7:05pm

Purple pills has called the dead cat bounce. If not familiar have a quick google search. There are a number of markets that have taken 20+ years to reach all time high levels after a crash. I love cryptos but keep in mind that nov and dec were massively over inflated. Why do you expect them to return to these levels. It is ludicrous that some tokens have market caps in the billions with no product beyond a token. Just think back to tech crash in 2000s. A handleful at best survived and took several years to return to highs. So maybe hanging in there is not the best advice. But as they say...I’m happy to snap up your worthless bitcoins for $1000. This is probably the beginning of a bear market. Not convinced by some commentators calling a two week dip. Hopefully but doubtful.

Why does Kodak icon have any value?? The company has had little value for the last decade. I call that market histeria.

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Blowin commented Wednesday, 17 Jan 2018 at 7:43pm

Indo - Great reply there . Considered.
I believe you're probably correct on all counts.

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Purplepills commented Thursday, 18 Jan 2018 at 3:03pm

bitconnect already bottomed...
http://stockcharts.com/h-sc/ui?s=%24NYXBT

what is the asset (insert crypto of choice fundamentals)?

indo-dreaming's picture
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indo-dreaming commented Thursday, 18 Jan 2018 at 3:28pm

Bitconnect is not your average crypto it's part of Bitcconnect network/scheme thing that is regarded by most people in crypto (including myself) as a ponzi scheme.

It seems the scheme has shut up shop, hence the drop in it's price, this would have most likely happened even without this correction as had legal issues in some USA states.

Personally i think its a real positive for crypto if it goes as these schemes give crypto a bad name.

Most alts are actually regaining ground quite well today.

shoredump's picture
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shoredump commented Thursday, 18 Jan 2018 at 5:19pm

Just a bit of perspective on yesterday’s crash. I just did the math, and my friends account that opened with $12,000, bottomed out yesterday at $41,000. That’s the low point, so far, in their little endeavour. Rapid gains again in the tens of thousands today.

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indo-dreaming commented Thursday, 18 Jan 2018 at 6:39pm

Actually even in a dip like this still big opportunities to double or come close to doubling money.

Will just use coin spot prices.

Tron yesterday just under 6c today hit a high of just under 14c

Ripple low $1.20 yesterday today high $2.16

Between150 to 170 billion added back to the market cap in the last seven hours.

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shoredump commented Thursday, 18 Jan 2018 at 7:46pm

100% Indo. Could have doubled on the 50% drop then double again on the rise. 4X! But 20/20 of course makes it sound easier than it is, I think. Still, a sloppy go at it would still double your money..
Edit: actually the 4X bit isn’t right, but you are Indo, it is a great opportunity to make gains

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Topsy commented Thursday, 18 Jan 2018 at 9:58pm

Looks like wepower have decided to cap ico contributions. Good news, their whitelist was getting a bit too big. They have not announced the cap size yet but at very least should make the ico a little more orderly. I expect it to sell out quickly, probably on the first day. I wont be wasting any time

Topsy's picture
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Topsy commented Thursday, 18 Jan 2018 at 10:48pm

Fundrequest whitelist wont be open too much longer. It looks like a good project

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Topsy commented Thursday, 18 Jan 2018 at 10:56pm

https://www.youtube.com/watch?v=_BnBmBZPvS8
A great interview with the creator of Cardano, and an insight into why it is such a big thing in the crypto space

indo-dreaming's picture
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indo-dreaming commented Friday, 19 Jan 2018 at 8:57am

I'm happy to say Cardano is my biggest holding :D

joakse's picture
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joakse commented Friday, 19 Jan 2018 at 3:03pm

Markets moving slowly south. Dead cat bounce yesterday. Who will be buying today or...

donweather's picture
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donweather commented Friday, 19 Jan 2018 at 4:36pm

Topsy, how is fund request different to say ETH Lend?

shoredump's picture
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shoredump commented Saturday, 20 Jan 2018 at 12:14pm

Anyone here have an opinion on Futureum?

Topsy's picture
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Topsy commented Saturday, 20 Jan 2018 at 1:01pm

@donweather Fundrequest focuses solely on funding forthe open source development community. They were ready to go with their ico a month or so ago, but postponed so that they could show investors a working product. The ico and working product will be launched at the same time. At this point they seem to me to be a good, professional team. Still need to have a scout around and see what others think. This would be a prime ico to research on reddit, given its close association with the open source community.

shoredump's picture
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shoredump commented Saturday, 20 Jan 2018 at 2:02pm

Cardarno sounds solid. Not that I have done a lot of research on others, but I like his ideas and direction. That has me second guessing on Futureum, which is dependant on an Eth climb.

indo-dreaming's picture
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indo-dreaming commented Saturday, 20 Jan 2018 at 2:20pm

Im invested in quite a few different platforms but i think ETH is a sure thing, i have more faith Ethereum being still a top three crypto in a few years than Bitcoin, currently so many tokens rely on Ethereum not to mention its the number one choice for ICO payments.

I don't think you can go wrong in anything that compliments ETH like QSP (know nothing of Futureum, couldn't even find anything on google)

I came across this the other day after watching a bit of that Cardano vid, it's not a recent vid but man this dude must be smart and barely takes a breath talking, very young too, he is like rainman or something, looks like he is from another planet too. https://www.youtube.com/watch?v=KCQP02LHjGY

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shoredump commented Saturday, 20 Jan 2018 at 3:50pm

Indo it might be worth your time looking more into FUTR tokens. As you know I’m not heavily into it all, but still trying to jump on a bandwagon somewhere that could buy me a pool or pay off my mortgage. Getting in deep, and early on a fast riser is my tactic. I’m in a private chat now with guys like you guys that are researching white papers and sharing ideas. FUTR is one that popped up in conversation last night and so far the guy who’s brought it up has invested 1 Eth, but plans on more. Here’s a small copy and paste from the convo. For what it’s worth he was asking our group to research it too to see what we thought. The math FUTR are selling is possibly a bit outrageous, but it’s got my attention...

"Simulates leveraged trading returns for Ethereum without using debt. If ETH goes up 2000% this year, FUTR will rise approximately 25,000%"

Got your attention now? :)

The other one they are talking about the most though is C20

Like to know your opinion if u look

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indo-dreaming commented Saturday, 20 Jan 2018 at 5:38pm

I found some info on it, but to be honest it pretty much went over my head, the video wasn't really convincing either, not saying int's no good, i have no clue.

https://futereum.org

https://icobench.com/ico/futereum

It got a rating of 2 out 5, don't know how valid that is?

$10 USD for one token a bit expensive, but seems there is only 6.7 million, thats a very very low supply could go to a very good price if it gets any attention.

I think it's unrealistic to expect ETH to go up 2000% this year though, but a 100% to 400% increase is possible.

I'm actually interested in C20 though i like the idea of that one.

indo-dreaming's picture
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indo-dreaming commented Saturday, 20 Jan 2018 at 7:21pm

BTW. C20 is hitting exchanges...question is do we wait for people to sell and profit and for a drop, or do we buy and hope there is no drop?

https://medium.crypto20.com/crypto20-launch-audit-update-6458e7a266c1

shoredump's picture
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shoredump commented Saturday, 20 Jan 2018 at 8:33pm

Maybe hedge your bets Indo, and buy on a few different days. I think I might put a bit into C20, but my hands are tied for about a week.

Topsy's picture
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Topsy commented Saturday, 20 Jan 2018 at 10:25pm

I think Ethereum will be around for the long run, but I feel much more comfortable about my position because I have a good amount of Cardano and some iota too. I was feeling too heavily exposed to ether a few months ago, the majority of my holdings were erc20 tokens back then. Listening to an interview with Vitalek Buterin (ethereums main man) the other day I was surprised to hear him say that it is possible that the casper update might not even be released in 2018. If it is not it will be because sharding overtakes it as the most likely scaling solution. The other possibility is what they call 2nd layer solutions like the raiden network. So, they are still looking for the best scaling solutions and the future is somewhat unknown. I love that Cardano is designed to get faster as the network grows, like bit torrent does.

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shoredump commented Sunday, 21 Jan 2018 at 7:25am

Environmental: In China, home to nearly 70% of the world’s Bitcoin mining, the government has already requested that mining operations make an ‘orderly exit’ from the industry and demonstrated the need for more decentralized support for blockchain — exactly the solution envion will provide with their MMUs

shoredump's picture
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shoredump commented Sunday, 21 Jan 2018 at 7:27am

That livestars one I think will work well

indo-dreaming's picture
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indo-dreaming commented Sunday, 21 Jan 2018 at 2:49pm

@ Topsy i was going to say why have you invested so heavily in erc20 tokens, then i went and checked and I'm actually quite heavily invested in them too i didn't even realise OMG and TeNX were erc20 tokens then EOS still is, and i have others like QSP, Power, Golem, Dragonchain, Sonm etc, looking at the list erc20 tokens possibly make up half my portfolio.

Topsy's picture
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Topsy commented Sunday, 21 Jan 2018 at 10:08pm

Just read that filecoin plan to make some tokens available to the public in the not too distant future. I have signed up for their newsletter to keep informed.

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donweather commented Monday, 22 Jan 2018 at 2:16pm

SD, It's almost impossible for ETH to go up by 2000% in the short to medium term. Even if you assume the total crypto marketcap triples from where it is now and ETH becomes to dominant crypto with 60% of this total marketcap, ETH can only go up by about 600% to a price just under US$10,000. To get to 2000%, and assuming ETH has 60% share of the total marketcap, the total crypto marketcap would need to increase to $4.5 trillion. It's currently at $560 billion, so you're going to need 800% increase in the total marketcap. I can't see any of these sorts of numbers happening in the next year or two.

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donweather commented Monday, 22 Jan 2018 at 2:48pm

Re: C20, looking at the order book on EtherDelta, there's a huge price range of orders currently sitting in the queue. Ranging from 0.0000016 ETH (AUD$0.002) to 0.0045 ETH (AUD$6.30) so there's already a massive price swing of 315,000%!!!!

Biggest ($ value) single order is for 2500 C20 at unit price of 0.0012 ETH at a total of 3 ETH (AUD$4,200). Not massive volumes lining up at this stage but of course that could easily change once trading goes live.

EDIT: Someone's just placed an order for a total of 5.6ETH worth of C20 at an asking price of 0.0000028 ETH.

What was the value of the C20 token at ICO stage? (Either ETH or $$ is fine).

donweather's picture
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donweather commented Tuesday, 23 Jan 2018 at 9:04pm

Well C20's been rather uneventful on it's first day of trading.

the chase's picture
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the chase commented Tuesday, 23 Jan 2018 at 10:18pm

Untill there is faith in bitcoin again the market isn't going to do much. Need the lighting network to start on bitcoin. It is so slow and shit and takes forever to send it.

joakse's picture
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joakse commented Wednesday, 24 Jan 2018 at 6:48am

The Bitcoin graph looks Interesting ! ?...

donweather's picture
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donweather commented Wednesday, 24 Jan 2018 at 10:33am

Chase, Bitcoin will never be a true real world cryptocurrency. Some other ALTCOIN will surpass it in the real world. However BTC will be like the USD of crypto's so it still will exist and trade.

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the chase commented Wednesday, 24 Jan 2018 at 11:45am

Don there is no way you know that. Atl coin are all just thoughts. With out bitcoin there is no crypto market.

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donweather commented Wednesday, 24 Jan 2018 at 12:01pm

What I do know is BTC transactions times are ludicrous and hence it can never be used in the real world to buy day to day items. There's much much faster and better ALTCOINS for these day to day real world purchases using cryptos.

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shoredump commented Wednesday, 24 Jan 2018 at 12:01pm

Hahaha Joakse, ........ouch!

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the chase commented Wednesday, 24 Jan 2018 at 12:10pm

Lighting network. Stop trying to chase the next bitcoin.