Consolidated Crypto Traders/Chat Thread

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

  1. douver

    douver Member

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    Bailed out on this bounce for now as I don't like the look of the market. BTC had a 30-40% bounce, many altcoins much more.
     
  2. dirkmirk

    dirkmirk Member

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    Theirs a couple of other threads I could post in like the bitcoin as an investment thread in the finance sectionor altcoin discussion but this will do, BITCOIN has an effect on everything....

    SO prices have been stalled around the $3,600 price for a while and maybe resistance is finally starting to collapse?

    Either way it feels like theirs going to be a big movement, less than a 20% reduction would be sub 3, Im pretty confident its going their.

    Its VERY unclear whats going to happen after that, Bitcoin could go to the duldroms and go sub 2, my impression is that it would be similar to the 2015 Bottom where it went sub $200 for a moment and that started the next bullrun.

    The Dow Jones for a moment went bear market(?) but on the up again, the bitcoin crash from the sixes came before that crash so cant draw any parallels their, I thinks its certain that if the S&P 500(/or world stock markets) resume another bullrun than Crypto is ready for another bullrun.

    If volatility remains high than crypto will surely go lower, IMO crypto is bullish as long as stock markets are bullish, theirs no way to tell if Crypto is a safe haven asset or a product of the bubble of everything from reserve/federal/world bank stimulus.

    The big bull trap would be people who think like me, that presume such a big crash in crypto combined with the bitcoin block halving next year will result in another bullrun.....

    Things often don't work out the way you think, I.E bitcoin goes to $2-$2,500 then Halves again, you've lost 50% of your capital, I still dont think thats a bad entry price longterm.....
     
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  3. douver

    douver Member

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    Think you pretty much summed up the crypto markets at the moment...general sentiment is definitely bear. BTC daily chart does indeed look like crap if it closes here (ETH even worse), really need a green candle today. For these large breakout moves best not to bet big until direction is obvious, could still be ranging - and this would be a glorious fakeout down, seems to be hardly anyone holding out hope.

    Fidelity announcing overnight their BTC custody service launching in March is big, not necessarily because of the product, but the timing of the release at a breakout point. Starting to sound like Wall St might have finally bought our coins! https://www.bloomberg.com/news/arti...-plan-march-launch-of-bitcoin-custody-service

    I can't see massive gains currently (like 100%+) in BTC this year from where ever it's lows are - marketcap is too big for a quick turnaround, but altcoins perhaps? - it's only around 6 months to the LTC block halving.

    As a side note - The central banks are to the stock markets like Bitmain is to Bitcoin Cash. Bought in big but can't liquidate anything. Wonder if they'll end the same?
     
  4. dirkmirk

    dirkmirk Member

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    I bought some bitcoin through Coinjar and transferred to my preffered exchange.

    WTF is up with this sh!t showing up on the blockchain instantly but still taking an hour to do 3 confirmations? THis is getting ridiculous 2014 was 5 years ago.
     
  5. dirkmirk

    dirkmirk Member

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    Just wondering whats the general feeling on XRP? Diversive Crypto still?

    I like listening to "The modern investor" on youtube just as a kind of Crypto news channel, the guy is a lunatic and huge on XRP but I never liked it and never will.

    If coinmarketcap is any indication, the trading volumes are low considering its market cap and if the circulating supply is to be believed, only 40% of coins created are actually out in the wild, so 2 huge red flags, Bitcoin/Ethereuem & Litecoin are like 80%+ mined so that indicates a level of confidence in that regard, high trading volumes and mostly mined.

    If im going big into crypto when the market finally capitulates, whats a good mix to invest in?.......

    Im scrubbing off XRP, Dash and XMR for starters, Im not confident in privacy coins which is one area I agree with the echo chamber lunatic(modern investor)....

    Stellar/XLM appears to have a ? in regards to circulating supply, Tron looks dodgy buts has heaps of fanbois, who knows.
     
  6. douver

    douver Member

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    Hoho, 12 months ago you would have got 20 people shilling you altcoins in no time, now they're on a 90-95% off sale, crickets.....

    XRP/XLM you seem at the mercy of the whim of the people who control the majority of the supply - pro's and con's. Something big seems to be brewing with TRX (and TRX's self bought Bittorrent ICO on Binance) - quite a good setup for moon, but haven't looked into it too much.

    I've got currently got:

    LTC - Mainly because of the block halving.
    ZEC - Seem to be doing a lot of work with compliance work in the US and getting listed there despite being a privacy coin. Chart looks like crap though...
    XTZ - Baking this coin - can earn interest on any amount by delegating funds to someone else without risk of loss - could be popular.
    EOS - Can't really justify this one - pretty much a shitcoin but with big money behind it.

    Binance have just announced credit card deposits, should be good for altcoin FOMO at some stage.
     
  7. dirkmirk

    dirkmirk Member

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    I get that feeling again.

    Hold on to your hats.
     
  8. douver

    douver Member

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    Yeah big move for BTC coming in soon surely, either going to be under 3k soon or over 4k.

    Meanwhile picked up some more ZEC because of this bug information release. https://www.coindesk.com/zcash-team-reveals-it-fixed-a-catastrophic-coin-counterfeiting-bug Sure it was a very dangerous bug. But to me the timing of the news release now, months after a year long bearmarket feels like a classic shakeout play. If fake coins were created surely they would have been dumped by now.
     
  9. Gunna

    Gunna Member

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    It'll continue down, personally I think it'll bottom out at around $2500. I also think we will see $20k+ again but not in the short term as investors try to ride the next wave up now they know it can go to $20k. We will also see a number of shit coins drop off this year while some remain due to not actually spending their money or changing their entire plan(Elix i'm looking at you)
     
  10. douver

    douver Member

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    Pretty good gains on alts lately, planning to hold for much more. I think there is a lot of money on the sidelines waiting for charts to say 'bull run'. A lot more money than people realise.
     
  11. dirkmirk

    dirkmirk Member

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    The US stock markets are on a 9 week winning streak and Bitcoin comfortably above $4,000, If the Dow Jones is headed for 30,000 points in the next couple of years some of those lofty Bitcoin predictions could come to fruition in another bubble.

    I think theirs correlation between the 2 markets at the moment.
     
  12. douver

    douver Member

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    Seems tough to bet against the central banks when they have the attitude of printing more money if the stock market drops. Will fail at some point and everyone will say in hindsight how stupid it was, but in the meantime bliss for all.

    I find it amazing how dead crypto is here and even the really active whirlpool thread, a lot of big coins have doubled in the past few months (LTC/ETH/EOS....) but no-one cares right when they should. Market sentiment is a funny thing, and imho BTC is probably as close to a real market as exists these days. And human nature being what it is, most people are too greedy to sell the top and also too greedy to buy the bottom.

    I'm not saying $3k can't break - but it is going to take something major for that to happen now. I'll be buying up big if we make it there again.
     
  13. dirkmirk

    dirkmirk Member

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    I've been dollar cost averaging and will double the money in 2-3 months for the next couple of years, Im reluctant to go in big unless it tests new lows.

    Im like you douver sad how dead it is in here, this might be the time where accumulating will get huge returns in the future who knows.

    I made the comment before but its like people are only interested buying at record highs, most coins are still down 90%+ wheres the enthusiasm:confused:?

    If you bought at record highs expecting a 10X increase is a 100X from today.
     
    Last edited: Feb 24, 2019
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  14. whatdoesthisdo

    whatdoesthisdo Member

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    I think it's dead becuase people are doing either exactly that (dollar cost averaging) or staying our completely, both are hardly posting worthy.

    Do you really want to hear about me buying another 1000 power/eth/btc etc etc?
     
  15. douver

    douver Member

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    That's pretty much it, seems people believe it's safer to buy after something has gone up 10x 'knowing' it will go up - as everyone just 'trades the trend'. In reality the risk is much higher buying there than here though.

    Well January last year there was people feeling the need to come here everyday and say how good X coin was regardless of whether they traded it or not. Reality is overall altcoin marketcap up 30% this month so far, Jan'18 down 15%.
     
  16. whatdoesthisdo

    whatdoesthisdo Member

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    Yeah but that was mostly that dude spamming his ripple buys lol, where is he now? hahahaha
     
  17. ipv6ready

    ipv6ready Member

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    Hope no one bought at $4000 for the moon shot

    The bulls walk up the stairs – bears jump out the window.
     
  18. dirkmirk

    dirkmirk Member

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    Papillion I remember him, he did admit that he was in for the money and didn't really care for it or crypto to be fair, I share a similar sentiment.

    All I want from crypto is another moonshot so I can sell out and buy precious metal miners, sit back, relax and crypto can go to hell for all I care lol:lol:.

    I give it 2 years and I'm moving on regardless of what happens, that is to say whatever I buy won't be sold unless it bubbles, might be lucky enough for crypto to strike like lightning a 3rd time (2013, 2017, 20XX?).
     
  19. douver

    douver Member

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    Yeah pretty sure almost everyone is in crypto to make money. Pretty much the same as any investment though. 'In it for the technology' was a joke people used last bear market cause everyone was losing money. Me - I reckon there's a chance BTC becomes a world currency, however minute - so currently plan to continue to hold some even if it's a pretty small percentage of my wealth.

    Also despite the weekend fakeout above $4k and crash, pretty much everything is up for the week and LTC/EOS are still double their lows from December. BTC and ETH (and to a lesser extent EOS and a few others) will continue to be a rocky ride as there is a lot of stupid amount of margin trading on them now.
     
  20. dirkmirk

    dirkmirk Member

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    Coinbase is officially adding XRP, HUGE news apparently....
     

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