Bitcoin

[FreeRoulette]

I did that with cardano, tron and bittorrent. It's like a highscore thing. Cardano is a good but but despite the developer activity, they are much slower than they should be. I think Tron is crap, but I bought it because Justin Sun is an aggressive marketer, and that will affect the price.

When it costs like $100 for a million. I'm like, screw it, I'll buy it and see what happens later. Probably have a better chance than the lotto. Bought pot stock, alt coins, oil mines, even have some crypto kitties. Probably lose money, but still fun like scratching a lotto ticket.

[Steve]

Well Bitcoin easily broke through $10,000 and is currently $10,910. I think it will go even further, then when it slows for a bit or consolidates, the pump will lead to altcoins.

[Bigbroben]

Impressive!

In a ''Buy low / sell high'' strategy, I'd prefer having missed this train than entering late an risking losing 20+%.  Or buy put options at 9k$ Expiry September, if it exists...


Gold breaking out...  expecting to reach 1600-1800$ in the next week/months.

[Steve]

Bitcoin nearly at $12,000. Probably will be in minutes. Again I expect the altcoins to pump soon too, probably mostly when the bitcoin rally settles because btc is used to buy the altcoins.

[Bigbroben]

My call:
this swing is overextended.  I expect it to stop at 10k, maybe 12k.  I'd wait and enter after a pull back to 6500-7000, which it might reach if it slides down below 8000.  If it went beyond 12000 after this pullback, I'd expect it to go to 15-20k, then logarithmic rises to 50k and 100k overtime.  In any case, pullback or not, if it reaches a new high past 19500, it's good to go higher.

I hold my call so far.  If I could, I'd buy 1-month expiry puts once it sees a day in red territory.  Play for a 25% retreat ( around 9k), but only when it stops climbing, not while it is.

Steve: okay, the other coins are dragged by BTC and the majors.  This is temporary in my opinion.  The whole purpose of a crypto is to be tradeable all over the planet. I believe in the end there is going to be only one winning crypto for global trade, and BTC is way ahead.  Once it is recognized as currency by most users/govt/banks/business, the others will be left behind.  Every country/company uses (used) USDs for trade, for a few decades.  It's the common ground for commerce.

One of the cryptos will do the same. Give it a few years.

[Steve]

I dont think there will be one coin to rule them all. Sure there will be dominant coins.

But the Bitcoin model has too many problems. The price is unstable, transactions too slow, and it cant scale. And what would happen if someone used a quantum computer in the network? It could be completely screwed by one person.

Not only that, Bitcoin isnt decentralized like people think. The miners have control. They are the new banks.

So either huge parts need to change, or Bitcoin will die off. Maybe not completely because of its name, but I expect another coin will take its place as king.

And Facebook's Libra will be shunned by too many people because of privacy issues, and they don't want to give more power to Facebook.

[Steve]

.. ok so i check a bit later, and btc is well past $12k. Everyone has gone mad. It isnt worth this much. Bitcoin is mostly being used by whales to manipulate the price and scam naive people.

[Bigbroben]

Just got up 3% in an hour...  Time to sell?  At least, too late to hop in the train, even if FOMO...

[Steve]

I think it will keep going. The bulls want everyone to look at the all-time high, and think Bitcoin is the savior of the global financial system. It will have ups and downs until then. Those aren't so predictable because they depend on what some whale thinks and does at the time.

Again Bitcoin is not a good model. It's more a toy for the whales to manipulate smaller traders.

Sell or hold? I reckon hold for probably another year, or at least around the all time high. But I will bet my balls Bitcoin wont last unless the whole structure of it changes. It is definitely headed for disaster if major things dont change. And when that happens and people understand, the price will drop like a rock.

[Bigbroben]

so, who's been buying Bitcoin in the last couple of weeks?  Small guys or big guys? And who's pumping it as we speak?  Asian users?  Is the rise only because of real buys or is it manipulated?

[Steve]

The big guys have been buying it for some time. Is because they know the market will become bullish, and they'll all pump and manipulate the price. It's a cycle that has repeated since the stock market began.

If you buy now, you'll probably profit. But overall you missed the boat.

Dont think about what most people might be thinking. Think about what the ones in power are likely to do. Because they are the ones who move the price more than anyone.

This whole bull run started from a series of bull-buys. Then other bulls join in. Then the bears say f*ck, we're accumulated enough, everyone is turning bull now. Let's join in. Then we get a parabolic curve.

The average investors join in, expecting they're going to make a fortune.

Until enough of the bulls decide it's time to crash the price. When they do that, other whales join in. And the poor average investor doesn't know what happened.

Bitcoin is good in principle, but it has serious problems even if just used as a payment system. And mostly it is just used for whales to manipulate smaller traders.

[RouletteGhost]

A few months ago when bitcoin was $4,000 I almost bought a few. But I was too scared

Today I want to cry

I do have a bunch of lite coins and I do have a bunch of xrp

If xrp takes off that will be pleasant.

[Steve]

Xrp is part of the establishment. It is rightfully shunned.

[ignatus]

I have a demo-bitcoins account and the day before yesterday i bought the MAXiumum amount of BUY of the 4 Most profitable bitcoins... so, today the chart dropped (see chart) but STill im +16 bitcoins, that would be about +200 000 USD 

I believe the chart will rise again... we´ll see! 

[RouletteGhost]

Xrp is part of the establishment. It is rightfully shunned.

They can shun it all they want

If it hits a few dollars I’ll be happy lol