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Who had a "Gut Feeling" about Bitcoin?

Discussion in 'Topical Discussions (In Depth)' started by Fatboy, May 22, 2017.



  1. solarion

    solarion Gold Member Gold Chaser

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    LOL Dude's bitcoin still hasn't moved. Wonder if he was unable to find the wallet.dat file. Pity, those two bitcoins were worth a whopping 31.97FRNs when he received them, but now they're worth 5182. A gain of 16,109%. Well more than that for Dude, since he paid nothing for them.
    https://blockchain.info/address/158iTXT8utndZC1EtwRoinVcib4ibJc5wd
     
  2. Joe King

    Joe King Gold Member Gold Chaser

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    Yea, since @Dude hasn't posted back up, I just assumed he's either on a shopping spree or crying in his Wheaties.
     
  3. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I decided to get out of the banker's pool when I got out of GBTC earlier this morning at $400/1 GBTC (I bought in at $387.75/1 GBTC) A net trading profit (after paying commissions) of only $10.59 but it was a trade that, for some reason, I felt like making. It's good enough for me as a degenerate speculator. As of now, I am officially out of GBTC and my trading account is now in cash waiting for the next opportunity wherever it arises. Even though I am out of bitcoin, I am still in cryptos with my long-term positions in alt-cryptos Whitecoin (XWC), Dogecoin (DOGE) and Bitshares (BTS).

    Speaking of Bitshares, The FRN proceeds ($1011) from last Saturday's sale of 3060 Bitshares (BTS), showed up in my bank account this morning and I immediately withdrew that amount and most of that will be spent on '70's silver art bars that I find during the remainder of this week. The remaining 3651 BTS that I have in my Bitshares wallet are currently valued at 13,370 satoshi per BTC (~$0.36 per BTC).

    I am satisfied with my Bitshares performance and I am satisfied with my last GBTC trade. I am a happy degenerate speculator. At the moment, I have my popcorn and will just watch the Bitcoin price movement to see where it goes.
     
    Last edited: Jun 13, 2017
  4. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    A short while ago, CNBC just did a "One Week on Bitcoin" segment during squak box and it was basically a CNBC beat reporter trying live off of bitcoin by using bitcoin for daily purchases at various places in New York City. In conclusion....Bitcoin process was too slow (transaction speed issue), too cumbersome and paying a higher premium using BTC vs. using USD. They also talked about the use of blockchain technology. They also talked about bitcoin not having regulation as the reason for bitcoin not having mainstream usage yet which is a contradiction since Bitcoin is supposed to not have any gov't backing or regulation.

    Once bitcoin took off from $980 to the current price, CNBC is on this almost everytime I turn on CNBC.
     
  5. solarion

    solarion Gold Member Gold Chaser

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    Yeah, they seldom miss an opportunity to bash on bitcoin in lamestream media. That said, there are issues currently with the blockchain as the miners(mostly in China) are blocking innovation which would speed up confirmations.

    In August there's a soft fork being unleashed to basically force a vote. If successful the miners would be forced into compliance and some speed optimizations would be implemented. The miners are blocking this, presumably because they believe their fees will drop if larger blocks and segwit are incorporated. It should be fascinating to watch play out.
     
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  6. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I looked up the date when I last looked at Bitshares (BTS). The last time that looked at my BTS investment was on November 16, 2014 (based on my old BTS wallet). The BTS price on November 16, 2014 was 4607 satoshi. On Saturday (June 10, 2017) the BTS price was at 11,795 satoshi when I sold 3060 of my Bitshares investment on the Bittrex exchange. On a BTC satoshi basis, BTS was up 156% from November 16, 2014 to June 10, 2017 when I sold 3060 BTS for 11,795 satoshi/BTS on June 10, 2017 and still have 3651 BTS remaining of my BTS investment.

    EDIT (4:36 PM): Bitshares (BTS) is now up to 13,588 satoshi/BTS.
     
    Last edited: Jun 13, 2017
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  7. solarion

    solarion Gold Member Gold Chaser

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    So here's a "found some change in a couch cushion" story for you SA.

    I was checking out an exchange called coinex and noticed a familiar ticker "ECC". It used to be called EasyClearCoin, but now it's called eCurrencyCoin. So anyway, I wondered if it was the same chain as an orphaned coin I stacked years ago and turns out it is the same chain, but under a different name and dev team. Next I looked up my old default address and checked to see if there was still a balance...and there was. 148m as a matter of fact.

    https://www.blockexperts.com/ecc/address/Eex76NoVVtq5zzyt5MB4xKe9KQu8hvmnh3

    So how much are these long forgotten imaginary currency chits worth to an interested degenerate speculator? Welp, as it turns out it's the biggest gainer for the past week...ainec:
    [​IMG]

    So...where is that wallet.dat?!? Oh, if I only made a backup!

    I'm meticulous with my backups...I have 6 backups of that file. Current value of that tiny 120kb file as I type this? 57btc
     
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  8. Nomis Elpmis

    Nomis Elpmis Minimalist Silver Miner

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    Are you saying you found and retrieved around a $150,000? If so, that's spectacularly degenerate..:-)
     
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  9. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    WHOA!!!!!!!!!!! I wished that I found that much in cryptos. Congrats. I like that "found some change in a couch cushion" story. I went ahead and I double checked all of my couch cushions and I did not find any more "loose change" cryptos. The only alt cryptos that I have are Bitshares, Dogecoin and Whitecoin. I am still pleasantly surprised about my Bitshares(BTS). I am also happy that I sold some of my BTS and I plan to use some of the profit from that BTS sale to buy some '70's silver art bars. Unlike my bitcoin investment from last month, I did not completely get out of Bitshares since I currently have 3,651 BTS remaining in my wallet.

    I am also on point when it comes to backing up every single wallet of each crypto that I have. For people reading this post and this thread and who are new to cryptos, THE most important thing is to make a backup of your wallet file. That is one thing that I learned that has stayed with me since I became interested in cryptos. After I "found" my Bitshares and got the new Bitshares 2.0 wallet going and my account balances present and accounted for, the 1st thing that I did was make backups of that wallet file which is a BIN file instead of a JSON file.

    I am long overdue on saying this but.........I really want to say thank you for sharing your knowledge and experience on cryptos and discussing it on this thread and your "Cryptorials" thread. Even though my main focus is everything related to 1-oz '70's silver art bar collecting, I do invest in and follow cryptos. I am always learning something when I read this and your "Cryptorials" thread. I feel better that I am not the only degenerate speculator on GIM.
     
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  10. Joe King

    Joe King Gold Member Gold Chaser

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    Wow, that's awesome man! I'm really happy for you.


    I'd like to add my thanks too, Solarion. You've been very helpful and it's much appreciated.
     
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  11. solarion

    solarion Gold Member Gold Chaser

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    Dunno what the monopoly funny munny value works out to be. I actually found another address when I got it synced so there were more than I thought.
    https://www.blockexperts.com/ecc/address/EKZyrNFqxAGg27bLzYYdu3N3SWA79kq1vH

    ...then they staked as soon as I got the wallet online so I got a bonus 27,237,006 from that. It was maddening waiting for 50 confirms before moving them though....all told it was 236,797,646. Quite a strange evening.
    Thanks for the kind words guys. I've learned a whole lot from these pages because of all the great personalities and collected wisdom here at GIM2. It's nice to give something back when you're able.
     
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  12. #48Fan

    #48Fan Silver Member Silver Miner

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    Solarion, that is just amazing, good on you bro! Are you going to be able to unload without tanking the price?
     
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  13. solarion

    solarion Gold Member Gold Chaser

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    Of course I will! I am a skilled professional my good man...

    [​IMG]
    ...oopsie. Okie, it's a wee bit fragile. Still have right around 100m too. lol

    https://www.coinexchange.io/market/ECC/BTC
     
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  14. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    WHEW!!!!! I am glad that I got out of GBTC yesterday at $400 because it was down 12% today to finish at $350 at the close of trading day today. No more walking on the wild side for me on GBTC. I was a crazy Mfing degenerate speculator doing that GBTC trade but I am glad that I made a little pocket change ($10.59 net trading profit) yesterday when I sold at $400 yesterday. I will leave the bankster derivatives trading to the professionals. SMH for continuously swimming in the shark-infested "banker pool". SIGH!!!!!!

    EDIT: Bitcoin is down to $2584.35 (Coindesk quote).
     
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  15. solarion

    solarion Gold Member Gold Chaser

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    Yep. Fail to get through a significant digit and pay the pricetag. I stacked some sexy ag eagles, generic rounds, and various gyft cards ahead of this drop vs gumbymint funny munny.
     
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  16. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    Now it's down to $2300 from the high of over $3000
     
  17. Joe King

    Joe King Gold Member Gold Chaser

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    Granted, 'tis a volatile market for sure. Not for the faint of heart.

    Then again, same can be said for Ag. lol
     
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  18. solarion

    solarion Gold Member Gold Chaser

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    Now's the time to get in if you're not. No doubt most will instead refrain because...well it's dropping now. lol

    I'm actually stacking litecoins ahead of the bip148 deadline. Irregardless of what happens, I suspect litecoin will outperform in here.

    Here's the miner's response to the softfork threat to reign in the miners:

    https://bitcoinmagazine.com/articles/bitmain-responds-uasf-another-hard-fork-announcement/

    Amazing to watch this play out in a(mostly) free market. The only reason mining is centralized to China is due to gumbymint interference in power costs.
     
  19. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    Anyone buy potcoin?
     
  20. solarion

    solarion Gold Member Gold Chaser

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    Not I, but then there are hundreds of alts I've never traded and have no interest in trading.
     
  21. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    Mission accomplished........I used a small amount of the FRN profit proceeds from the sale of 3,060 Bitshares(BTS) crypto to buy some '70's silver art bars. I ended up buying seven 1-oz '70's silver art bars and I also bought 4 SAE's (3 of the 1997 mint year and + 1 of the 1986 mint year) with the BTS crypto profit. 11 troy oz's silver total and I still have skin in the Bitshares game with 3,651 BTS. That's good enough for me.
     
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  22. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    Ethereum is getting kicked hard. Down 20% to $255.80
     
  23. platinumdude

    platinumdude Gold Chaser Platinum Bling

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  24. #48Fan

    #48Fan Silver Member Silver Miner

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  25. solarion

    solarion Gold Member Gold Chaser

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    Not hard enough. I'd like to see the ETH scam return to zero...where it belongs.
     
  26. Joe King

    Joe King Gold Member Gold Chaser

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    What's the deal with Bitcoin Plus? In the past 90 days it's went from $3.50 to $200. Woulda been nice to have gotten on that train. lol

    Oops, now it's $168. $156. $172. That was quick.
     
    Last edited: Jun 25, 2017
  27. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    And I see coinbase was having issues again when the price spiked down. I see why you don't like them as well.
     
  28. solarion

    solarion Gold Member Gold Chaser

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    Exchanges have gone the way of the dodo for less than the flash crash in ethereum.
    XBC has the markings of a pump and dump scam to me. If you check the market view you'll find that 99.75% of all volume takes place at one exchange and one pairing. I don't know anything about it technically though...so hey, maybe it's better than sliced bread. lol
     
  29. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    There was computational power, and electricity, a lot of it, involved with producing that bitcoin. Just like gold required much human labor to extract, so it will not become zero.
     
  30. solarion

    solarion Gold Member Gold Chaser

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    Ethereum isn't bitcoin...it was pre-mined and sold.

    In fact Ethereum isn't a coin at all, but instead it's a platform for dumb, buggy, defective contracts that hackers can exploit almost at will. It should be renamed bankster bailout non-coin. lol
     
    Last edited: Jun 26, 2017
  31. goldielox1

    goldielox1 Silver Miner Seeker

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    LOL. I paid a guy $1000 to dig a hole in my backyard and then paid another guy $1000 to fill in that hole in my backyard. I'm glad to know you think I've improved my property by $2000 due to all the labor that went into that.
     
  32. solarion

    solarion Gold Member Gold Chaser

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    ^^^IOW Muh gold stack!!! ZOMG bitcoin hurt muh gold stack! lol
     
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  33. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    Well, no, because it didnt accomplish or find anything.

    If you spent weeks digging in the ground and you found a gold nugget that weighs 2 ozs, would you give it away? Thought not.
     
  34. solarion

    solarion Gold Member Gold Chaser

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    Interesting discussion with Bix Weir about gold, silver, and cryptos. I personally think he's all wet re: Ethereum, but time will tell.


    HOT!!! BIX WEIR - Silver,Gold & Bitcoin Interview(30m16s)
    How to Make Silver Great Again (JUNE 24,2017)

    In today’s insightful interview Bix Weir shares useful information regarding the suppression of Silver and the untold amounts of Gold hidden in Reserves.
    We also look into the huge potential of Silver breaking out from its suppression and the opportunities presented to us by not just Bitcoin but the number two Digital Currency, Ethereum.

    TOPICS IN THIS INTERVIEW:
    The suppressing of Silver provides a good buy opportunity
    Central Banks prepping for a Silver breakout!
    Silver hasn’t been freely priced since the mid 1800’s
    JP Morgan holds 500 million ounces of physical Silver
    Opportunities presented by Crypto Currencies
    Bitcoin VS Ethereum and the combined potential
    The hidden reserves of Gold in an unpredictable World
    How to make Silver great again!
     
  35. goldielox1

    goldielox1 Silver Miner Seeker

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    LOL you still don't get it. The argument was made that because a lot of labor/computer power went into running some queries, the resulting cybercurrency could never become worthless. I could run random number generator programs all night and all I'll have is a really high electricity bill. If you don't see the connection then I can't help you.
     
  36. solarion

    solarion Gold Member Gold Chaser

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    [​IMG] Bitcoin broke below my trendline in a meaningful way a few minutes ago, so I swapped some coin for silver as I usually do in these cases. Went with eagles from silver.com as they've been at or near the lowest prices online, give a discount for bitcoin purchases, and have given me good service to date.

    [​IMG]

    It has since bounced back a bit, but I think the damage is done and we're heading lower even as the crap dollar dissolves vs the Euro. Go figure.
     
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  37. Tecumseh

    Tecumseh Silver Member Silver Miner

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    Maybe Scorp and Goldhedge should lock up the domain name "bitcoinismoney" now.
     
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  38. nickndfl

    nickndfl Midas Member Midas Member Site Supporter ++

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    If I had $150k in BTC I would get the cash immediately.
     
  39. goldielox1

    goldielox1 Silver Miner Seeker

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    Wouldn't it be "bitcoinismoney2.com"?
     
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  40. goldielox1

    goldielox1 Silver Miner Seeker

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    I wonder if one of the most popular threads on the new site bitcoinismoney2.com will be:

    "Who had a gut feeling about silver"?
     
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