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Who had a "Gut Feeling" about Bitcoin?

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



  1. #48Fan

    #48Fan Silver Member Silver Miner

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    I'm kind of waiting to a pullback of at least below 4k. It may not happen, so I will reassess on the next uptrend.
     
  2. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    Bitcoin down to $3,318.57 and ethereum down to $227.56
     
  3. mtnman

    mtnman Gold Member Gold Chaser Site Supporter ++

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    North Korea uses Bitcoin.
     
  4. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

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    Uh-oh!
     
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  5. tom baxter

    tom baxter back from 2004

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    I read a story that JPM was going big into crypto, that usually signifies the top, it did back just before gold tanked years ago.
     
  6. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    Yeah, bitcoin keeps falling, down to $3035 and ethereum to down to $208.
     
  7. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    Wow $2985. Somebody doesn't like bitcoin.
     
  8. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    Back up to $3080, it may have hit bottom.
     
  9. goldielox1

    goldielox1 Silver Miner Seeker

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    LOL I read an article that Goldman was recommending "investors should no longer avoid bitcoin". This happened right at the peak of $5000 on Aug 31st I believe. Since then it down 40% in 2 weeks lol.

    Suckers.

    Flushcoin.
     
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  10. hammerhead

    hammerhead Not just a screen name Gold Chaser

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    https://www.bloomberg.com/news/arti...as-chinese-exchange-says-it-will-halt-trading

    Bitcoin fell for a fifth day, the longest losing streak in more than a year, after one of China’s largest online exchanges said it would stop handling trades by the end of the month amid a government crackdown on cryptocurrencies.


    BTC China will immediately stop accepting new account registrations on its BTCChina Exchange, Chief Executive Bobby Lee said Thursday in a tweet. The decision was made after “carefully considering” the Sept. 4 announcement by Chinese regulators that outlawed initial coin offerings, he said.
     
  11. Uglytruth

    Uglytruth Gold Member Gold Chaser

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    Are you saying the markets are manipulated :belly laugh: or it was another pump and dump setup by the banksters?:monster 4:
     
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  12. goldielox1

    goldielox1 Silver Miner Seeker

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    Naw of course not! Goldman would never tell people to do the opposite of what they're doing. Don't believe all those articles and lawsuits about how they were telling their customers to buy sub-prime securitizations while they were shorting them in 2007.
     
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  13. goldielox1

    goldielox1 Silver Miner Seeker

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    LOL. Nostradamus?

    Perhaps its just the fat finger guy trader accidentally knocks metals down at 3am? I'm sure bitcoin will bounce right back.
     
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  14. anywoundedduck

    anywoundedduck Gold Member Gold Chaser

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    So the story goes, Blankenfield called Dimon, and asked him to pull the rug out. The next day, Dimon went public calling Bitcoin a fraud. Been going down ever since.
     
  15. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    But it's back up to $3,351.52
     
  16. anywoundedduck

    anywoundedduck Gold Member Gold Chaser

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    Yeah. Get ready for the manipulators to suck you in, and drain you dry.
     
  17. anywoundedduck

    anywoundedduck Gold Member Gold Chaser

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    The manipulators can buy all the Bitcoin they want, with all the dollars they can print. Then they sell at the top, that they, themselves created, cratering the price, but not all the way. Let us see what fish we can lure back in. Ever go trout fishing?
     
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  18. platinumdude

    platinumdude Gold Chaser Platinum Bling

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  19. goldielox1

    goldielox1 Silver Miner Seeker

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    I think the TPTB will keep pumping and dumping this turd. The whole idea I'm guessing is to show that its not a viable form of currency (definitely not a store of value) and that it's just a gambling hall for millenial gamblers. Of course the casino will make all the money and the snowflakes will get more and more upset that "the world isn't fair".
     
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  20. #48Fan

    #48Fan Silver Member Silver Miner

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    Again, I have yet met a millenial that knows anything about crytos. TPTB are actually pushing progress in the cryto-world. This crap that China just pulled which tanked the market for 12 hours will not be possible in the near future. There are several blockchain companies that have completely anonymous/decentralized crypto-markets in the works. There are also several anonymous/decentralized internet companies in the works. Imagine it. Youtube now has competition from a few blockchain based media outlets. Facebook has competition from Steemit (where content providers earn steem for their content). Twitter has competition from Investfeed. There are blockchain based webbrowsers in the works as well as blockchain internet. Shit man, I could go on and on.
     
  21. #48Fan

    #48Fan Silver Member Silver Miner

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    Also, while I am thinking about it. There are several blockchain companies working on crypto debit cards. There is one company in particular who already has a working card in Europe. It is supposed to be available in the US qtr 4 2017. You can spend btc, eth, dash, and a couple others anywhere that accepts visa. They are presently acquiring their banking license and working on a future crypto credit card. But, hey, just sit on the sidelines. Works for me.
     
  22. 90%RealMoney

    90%RealMoney Midas Member Midas Member

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    I'm so cynical, and such a contrarian, that when I see people being led in this direction, I go in the other direction. Just seems to me like people are led toward the cryptos, while the metals are still manipulated to the downside again and again. I don't trust anyone or anything anymore. The PTB, .gov, or whoever, is not going to lead you to the right place, that is for sure. I'm glad alot of you guys got in early, and have done well. This thing is acting exactly like some of the pump and dump penny stocks I used to play with. I could have sold one back in the 90's, and made 50k off a 2k investment in 30 days. No, I held on, and the thing went to nothing. I did get out on the way down with a small profit, but that was a stomach burner, that one! Good luck to all of you who are involved with this!
     
  23. nickndfl

    nickndfl Midas Member Midas Member Site Supporter ++

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    Buy AGEs and ASEs instead. They look better and last longer.
     
  24. #48Fan

    #48Fan Silver Member Silver Miner

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    Well, I also have my stack. I don't know the exact number of the world population that is actually into the crypto space, but I'm positive that it is less than 1%. So, to me, the crypto space is the contrarian move here. Gov'ts and big banks are against it, that is enough for me. It is not like there have not been healthy corrections in this space. Other than the insane potential/already realized profits, I see no comparison to penny stocks.

    I heard yesterday on a podcast that bitcoin is "the honey badger" of currencies. "Bitcoin don't care". I thought that was hilarious.
     
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  25. tom baxter

    tom baxter back from 2004

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    Perhaps just trust your own common sense now, it sounds like you've had enough life experience to avoid the pitfalls. Personally I don't read or listen to stories about manipulation and quite frankly I'm happy that gold and silver have stayed where they are. I didn't buy them to get rich as some did, I simply wanted to preserve the purchasing power of my savings and not have it stolen. For that gold has done a remarkably good job.

    Since 2008-10 I have seen wages here stagnate, home prices and rents stall, food prices remain the same, and a lot of things go down in price. This is deflation, exactly what you'd expect in a Depression, which is what I believe we are in. All this is a stark contrast to the 40 years prior which saw rampant inflation. I don't buy any gold now, I could I suppose, but I have enough as they say. As for bitcoin, well it's just an anomaly that I believe will stabilize and or disappear all together. But if you believe the advocates then you have to believe that anyone anywhere can "Print" up a few million Bit Bucks, dump them on the web and then get rich. That's a money tree, and money trees don't exist.
     
  26. goldielox1

    goldielox1 Silver Miner Seeker

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    Difference between a bitcoin and a penny stock is at least with the penny stock, you own something tangible (a company --- no matter how close to bankruptcy it is). Whereas with a bitcoin all you own is the hope that there's a greater fool out there than you.
     
  27. spinalcracker

    spinalcracker On a mail train. Silver Miner Site Supporter

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    One could say that about the FRN's couldn't they?
    It's just a piece of paper that everyone believes it is worth something.
    Maybe one day the majority will believe in the Cryptos....
    Just thinking out loud....
     
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  28. goldielox1

    goldielox1 Silver Miner Seeker

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    Yes and we've lost 98% of the purchasing power of the FRN in the last 100 years. Its going to go to zero. The only question is when. Anyone that is holding more than a minimal amount of FRN is not thinking too clearly. It's like trusting a known pedophile as your babysitter. The gov has a track record of printing and inflating money (2% value left) and one would trust them with their money?
     
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  29. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

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    I'm buying guns and ammo as fast as I can... :oriental:
     
  30. goldielox1

    goldielox1 Silver Miner Seeker

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    Those should hold their value as the scarcity increase when the gubmin starts confiscating and/or fighting its own populace.
     
  31. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    Now it's at $5719 with China's golden week holiday over.
     
  32. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    Dang, $5856
     
  33. Nomis Elpmis

    Nomis Elpmis Minimalist Silver Miner

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    Almost $1000 in one day. Amazing.
     
  34. Silver

    Silver Gold Member Gold Chaser

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    Why?
     
  35. Silver

    Silver Gold Member Gold Chaser

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    My guess is international organized crime drives the price - it's a money laundering and transfer vehicle.
     
  36. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    I already went through that, and so did many others: Bitcoin is a fucking criminal enterprise. I don’t trust it as far as I can throw it, x 10.
     
  37. Joe King

    Joe King Gold Member Gold Chaser

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    Then you should be able to throw it quite well. Ie: btc is massless, so therefor you should be able to throw it pretty far.
    How far can you throw a dollar?
     
  38. Silver

    Silver Gold Member Gold Chaser

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    The criminal world is huge and loaded with funds from drug trafficking, arms dealing, organ harvesting, child trafficking, government theft, embezzlement, war, etc. I remember one US bank was caught laundering upwards of 500 billion for the Mexican cartels - Bitcoin provides a new avenue for laundering and transferring large sums. I think Bitcoin will continue to spread far and wide in the criminal world. The big banks are onboard.
     
  39. Joe King

    Joe King Gold Member Gold Chaser

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    So are you saying that the answer is to ban cash and btc? Or would you be happier if btc was government run in the same fashion they run the Dollar?



    As for btc, it is just like cash in that it provides a way to transact outside the banking network. Similar to how actual cash is used. Ie: it allows for something called freedom. I know, I know, many are not comfortable in allowing others the same freedom as expected for themselves, but in order to have our own freedom, it must be extended to others too.
     
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  40. Silver

    Silver Gold Member Gold Chaser

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    The debt fiat system is designed to have an above the table enterprise and a under the table enterprise - Bitcoin enables the under the table enterprise to grow and spread the misery. The dark pools will grow until it reaches peak misery - think Mexico and the cartels. You can call it whatever you want. One man's freedom is another man's addiction, kidnapping, war crime, etc.
     

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