Consolidated Crypto Traders/Chat Thread

Discussion in 'Blockchain & Cryptocurrency Mining' started by Optimus., Dec 15, 2017.

  1. papillon

    papillon Member

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    EOS is dodgy as, just look at its main backers especially that former child actor turned LSD freakshow with a bright hat - John Oliver did a segment on them..

    Anyway, all the Triangle Nerds on tradingview seem to be in agreement that "sky, indeed, is coming down" sometime very soon for BTC. One says it will crash to $4200 between April 12-14, the other, even more 'respected' triangle nerd is calling it an end of BTC period. What to make any of it, don't know. I still think most of their predictions are utter BS and don't apply to crypto, but some have been right more often than not so that makes you wonder...
     
  2. whatdoesthisdo

    whatdoesthisdo Member

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    Oh yes I definitely check John Oliver’s opinions on crypto currency before deciding to purchase. Smh

    Eos is not dodgy it is being created by the lead developer of Steem and bitshares. The dude knows his shit and is highly regarded in the crypto world.

    Eos is going to be its own chain and a eth competitor however they basically crowd funded the development using erc20 tokens which will be swapped into eos in June as long as you have them in the correct wallet.
     
    Last edited: Mar 28, 2018
  3. shredder

    shredder Member

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    Yeah I saw old magicshitgun doing his doom dance. Quite funny, but like every forecaster, does get it wrong on a regular basis too.
     
  4. douver

    douver Member

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    Yeah can always get it wrong with forecasts :lol:, although trick is to try not to be wrong for too long.

    Premise of my bullish idea has failed (don't think they would dump this far if they were accumulating longs around 8k) and I don't like this slow bleeding out so I'm bailing out. Could always still be a fakeout down and we continue triangle-ing (and perhaps redrawing triangles :tongue:) for a while, but looking damn ugly right here. If we were just using the 8k area to accumulate shorts then we could be going a long way down.
     
  5. shredder

    shredder Member

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    This was an interesting read, though of course one would never know if it were true or not. (perhaps it is not, in the exact sense that he understands it, but one would be naive indeed to think high level manipulation doesn't occur in crypto - there is likely to be more than a grain of truth in there).

    --

    "Cartel entered Crypto space somewhere in Oct-2017. Their presence started showing the HOUR CME-Futures Market Opened it doors for Crypto.

    Bitcoin DUMP started exactly at the moment CME opened Doors at 5PM on Dec-17–2017. It still continues (image last updated Mar-10–2018)"

    --

    1_6NA3vLrj16A8ZsjW7CkhLQ.jpeg

    --


    Some of the terminology and theories may be a bit out there, but to those who think it's wholly ridiculous, I'll say this: you really think that rich people don't hugely manipulate crypto?, and that there isn't a biggest, richest group that has the dominant effect? and that media manipulation and similar is NOT involved?? Think about it, and about the world we live in today.
     
    Last edited: Mar 29, 2018
  6. dirkmirk

    dirkmirk Member

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    One of the most ridiculous myths about crypto are the ones who think its the little guy benefiting from the rise in BTC value, The guys getting the most benefit are Rodger Ver, Max Keiser, Winkelovoss twins,Mike Maloney, etc....
     
  7. whatdoesthisdo

    whatdoesthisdo Member

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    Of course, early adopters always do. Who you think benefit the most with facebook, the early investers or average joe after it went public?

    My thoughts on this correction are much more simpler and while I totally agree there is massive amounts of manipulation, I still think the majority of this is just because of the huge amount of weak hands entering Nov-Jan. The vast majority of said people bought due to fomo, thinking they would get rich quick and who don't understand what crypto really is. This sell off is just a result of those people being shaken out.
     
  8. dirkmirk

    dirkmirk Member

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    Here we go "understand the tech" lol.

    What is Thier to understand?

    A digital ledger thats maintained by millions of computers like tracking an email or BitTorrent file, it's quite simple.

    It's gets a bit more complicated with platforms like ethereum attempting to attract real business etc but for BTC or LTC it's not hard to explain.

    Your basically speculating on artificial scarcity can't compare to traditional assets or business because their is nothing but goodwill to value it, not to mention that goodwill can be destroyed instantly if the contollibg network goes against the grain.
     
  9. douver

    douver Member

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    Most likely there has been some manipulation to help the price down but effectively human nature fomoing in (and out) causes bubbles and their bursting anyway. I find it laughable that most crypto people seem to believe: price up = natural growth/demand, price down = manipulation/whales. IMHO there is generally more manipulation on the way up than on the way down (this could be for BTC or almost any altcoin pump lately). If you overpump something it will go down pretty quickly anyway.

    My thoughts below from 29th of November at about 10k - imho the reason for the downtrend is more likely the good news ran out, rather than the bad news.

    Also as shredder mentioned if you are well informed about a subject it does seem obvious that mass media (this is moving online now too) is paid to get the general public sucker punched. For example the badly informed (media commentary is so bad they seem to just sprout whatever they are told) and timed CNBC crypto segments at most major tops. ie instructions to buy XRP at $3, Roger Ver got on TV at the BCH top, It goes on. It is so perfectly bad you would have to be naive to believe its not paid placement for someone to sell, and they obviously they do similar for stocks etc.
     
  10. shredder

    shredder Member

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    This agrees with what I'm seeing, i.e. the market main problem at the moment isn't a "sell off" per se - it's just as much a lack of buyers as anything. Due to lack of reasons to buy.
     
  11. koss

    koss Member

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    Huh? Sellers and buyers come in matched pairs, you can't have more of one than the other.

    Look at the increase of BTC Dominance from 32% in January up to 45.4% today, that's a huge change, and it's all at the expense of alt coins, people are moving to BTC or fiat/USDT. Investors are clearly dumping alts. Only the day traders and bots are plodding on looking for gains in the swings.

    ETH $376
    LTC $111
    BCH $700
    XRP $0.495
    All at their lows for the year.
     
    Last edited: Mar 30, 2018
  12. shredder

    shredder Member

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    Sorry Captain Obtuse, I should have worded the concept of "more selling than buying makes the price go down" more simply, especially for you, so that you couldn't twist the words into some Weird Literal Interpretation. ;)
    It's not rocket science. It's simple Last In First Out theory. Money went into Bitcoin, then profits from bitcoin's bubble were leveraged into alts, along with new money that was late to the Bitcoin 20k party. Now that crypto goes down significantly across the board, the money comes out of alts most severely first (last in first out!), and also bleeds out of bitcoin at a lesser rate.
     
    Last edited: Mar 30, 2018
  13. koss

    koss Member

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    It's actually more complicated than rocket science, far more variables, that's why a lot of Deep Learning and AI research is going into financial trading markets.

    Rockets don't need to index sentiment.
     
  14. whatdoesthisdo

    whatdoesthisdo Member

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    That is a technical understanding, not what am I referring to but even if I was there are plenty of people who invested nov-jan who didn't even understand that. I have many friends who wouldn't even understand what a ledger is and to your analogy, I have many friends who download torrents yet have no idea, how they work.

    Shit my boss called me yesterday and wanted to know how to "store" a website somewhere so he could get it to it quickly without typing it out. I said you mean like a bookmark? and he said don't get technical :lol:. You are on a overclockers forum, don't think for a second even half the population is as savvy with computers as people on here.
     
    Last edited: Mar 30, 2018
  15. shredder

    shredder Member

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    I doubt either of us knows much about the breadth and depth of actual rocket science. But what I was referring to as simple was not actually the entire financial ecosystem, you know? :)

    Simply the overall concept of where the big money moved - the self-evident flow into Bitcoin, then on into alts, and now back out of alts most severely, given that it was the last money to enter the market and, again self-evidently, has been the first out again.

    That is the obvious explanation for these "bitcoin dominance" movements which you've been confused about. I'm happy to explain it to you. :)
     
    Last edited: Mar 30, 2018
  16. douver

    douver Member

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    Because okex quarterly futures were manipulated down to $4755 today they are rolling back and delivering all their futures contracts. https://support.okex.com/hc/en-us/articles/360002279012 Effectively closing around $800million worth of derivative positions. If shorting whales are in any control of the price they will want to pump the price as high as possible (all weekend and above $7.5k at least? - maybe touch $8k) and get their shorts back before continuing down. Somehow we are already up $500 since the first rollback announcement...
     
  17. koss

    koss Member

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    Is ir very common to rollback a futures contract like that?
     
  18. douver

    douver Member

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    I don't think I've seen a full rollback and closure like that before, where loses every their positions. Losing positions is the significant part for me - quite a few people who have lots of money lost big BTC positions in the thousands. Will likely affect the market at some point - can't be 100% sure how though. Really felt like we were getting the momentum up to go sub $6k this weekend, but maybe it will get delayed.

    I can remember a few other big cases of cascading margin call/stop loss problems, most exchanges have had issues Bitmex/Okcoin/Bitfinex/Coinbase. But they generally just refund people that lost out.
     
  19. gmturner

    gmturner Member

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    do you think the big market manipulators are waiting for us to think we have hit bottom and then just as we get a hint of optimism they will take down tether? if tether goes down its gonna hurt real bad.
     
  20. koss

    koss Member

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    I don't think people move Tether between exchanges very much. Might be wrong, I just use it as a safe haven when the market is dumping, never even worked out how to withdraw or deposit it so the real coin/chain is kind of unused.
     

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