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Author Topic: Bitcoins - about to hit $5,000 per coin today. Now $ 6,000  (Read 18497 times)
Griffith
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« Reply #350 on: November 09, 2017, 01:07:57 PM »

If the value of Bitcoin can stay relatively stable it could be a great way to hedge against currency depreciation, especially for those using weaker and more volatile currencies.
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Mr Anabolic
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« Reply #351 on: November 09, 2017, 04:29:55 PM »

If the value of Bitcoin can stay relatively stable it could be a great way to hedge against currency depreciation, especially for those using weaker and more volatile currencies.


How? 

Paper money is a ghost of value, and bitcoin is an illusion of a ghost of value. 

Bitcoin is a digital illusion.  Created from nothing, backed by nothing... worth NOTHING.

People are eventually going to learn the hard way... for most it will be a very hard, painful lesson.  Then maybe, just maybe they'll wake up and realize the truth.
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HTexan
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« Reply #352 on: November 09, 2017, 04:32:28 PM »

How? 

Paper money is a ghost of value, and bitcoin is an illusion of a ghost of value. 

Bitcoin is a digital illusion.  Created from nothing, backed by nothing... worth NOTHING.

People are eventually going to learn the hard way... for most it will be a very hard, painful lesson.  Then maybe, just maybe they'll wake up and realize the truth.
Bitcoin is not limited to one country
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« Reply #353 on: November 09, 2017, 04:47:12 PM »

Bitcoin is not limited to one country

Either are bananas.
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gib
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« Reply #354 on: November 09, 2017, 06:33:38 PM »

If the value of Bitcoin can stay relatively stable it could be a great way to hedge against currency depreciation, especially for those using weaker and more volatile currencies.


Agree. Although itís doing better than staying stable. Itís rapidly appreciating - so much better than just a hedge.
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gib
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« Reply #355 on: November 09, 2017, 06:48:26 PM »

Either are bananas.

And your point is...?
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gib
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« Reply #356 on: November 09, 2017, 07:51:00 PM »

Crazy how high itís going. Who are the billionaire buying this up to run the price high?

Right now is still primarily being driven by tech geeks and little people. The big money will be moving in by 2020 though. That era will likely take the market price to over usd 100K per coin.
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Mr Anabolic
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« Reply #357 on: November 10, 2017, 05:10:43 AM »

Right now is still primarily being driven by tech geeks and little people. The big money will be moving in by 2020 though. That era will likely take the market price to over usd 100K per coin.

You are fantasizing.

As I mentioned earlier in this thread... when the avalanche of sell orders come in and everyone is looking for an exit at the same time... they not be able to sell and most will get their faces ripped off.   You'll be saying to yourself: "Why the fuck didn't I sell at $7800?"
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Twaddle
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« Reply #358 on: November 10, 2017, 06:48:11 AM »

It seems the B Coin has dropped 8% in the last 12 hours.  Is this the beginning of the end?  If people start panicking and selling, it will surely crash.  You guys better sell.   Cheesy
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HTexan
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« Reply #359 on: November 10, 2017, 07:28:46 AM »

It seems the B Coin has dropped 8% in the last 12 hours.  Is this the beginning of the end?  If people start panicking and selling, it will surely crash.  You guys better sell.   Cheesy
Starting to pick up again good time to buy when prices are low guys
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Griffith
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« Reply #360 on: November 10, 2017, 01:19:42 PM »

Bitcoin went down a 1000 dollars today.

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Mr Anabolic
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« Reply #361 on: November 10, 2017, 01:38:51 PM »

Bitcoin went down a 1000 dollars today.

That's only a warm-up compared to what is eventually coming.  It could be this week, next month or next year, but a collapse is inevitable.

There's always some ridiculous, convoluted, complicated story to prop up and bolster every Ponzi scheme.  The people who buy in close to the top always try to justify it claiming "new paradigm" or "this time it's different".  It's never different this time.  Manias are manias no matter what it is.  You can only keep inflating a bubble for so long until it pops.  When the last of the greater fools finally get in, that's when it's over.  Those who got in first make all the money and those who bought at the top get wiped out.  

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polychronopolous
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« Reply #362 on: November 11, 2017, 08:29:17 AM »

Tulipy?

Jack's Magic Beans??

Or legit wealth builder??

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Mr Anabolic
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« Reply #363 on: November 11, 2017, 11:53:44 AM »

Tulipy?

Jack's Magic Beans??

Or legit wealth builder??

Beanie Babies began to emerge as popular collectibles in late 1995, and became a hot toy.[7] The company's strategy of deliberate scarcity, producing each new design in limited quantity, restricting individual store shipments to limited numbers of each design and regularly retiring designs, created a huge secondary market for the toys and increased their popularity and value as a collectible.[2]

Ty systematically retired various designs, and many people assumed that all "retired" designs would rise in value the way that early retirees had. The craze lasted through 1999 and slowly declined after the Ty company announced that they would no longer be making Beanie Babies and made a bear called "The End".[8] Some time after the original announcement that the company would stop production, Ty asked the public to vote on whether the product should continue; fans and collectors voted "overwhelmingly" to keep the toys on the market.[2]

At its height of popularity people would flip Beanies at as much as ten-fold on eBay.[9] Indeed, at the height, Beanies made up 10% of eBay's sales.[10] Some collectors insured their purchases for a price in the thousands.[9]

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SOMEPARTS
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« Reply #364 on: November 11, 2017, 11:01:25 PM »

Bitcoin now down about $2000 from the highs.
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Griffith
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« Reply #365 on: November 11, 2017, 11:01:55 PM »

Bitcoin at 5800 dollars now.
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Mr Anabolic
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« Reply #366 on: November 12, 2017, 05:53:20 AM »

Bitcoin at 5800 dollars now.

Then $5600, then it recovered to $6400 after Asians bought the dip.  Just temporary though.  Already shipping back down.  The froth is melting off.    

A lesson in psychology...
Notice how the bitcoin cheerleaders stopped posting after the price dumped.  Wait until the price falls back to $1000, you'll never see them post in this thread again, just as I predicted a few messages back.  

I've been trading for 25 years.  The #1 reason people lose money is greed.  Pigs eventually get slaughtered.    
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« Reply #367 on: November 12, 2017, 06:04:43 AM »

Then $5600, then it recovered to $6400 after Asians bought the dip.  Just temporary though.  Already shipping back down.  The froth is melting off.    

A lesson is phycology...
Notice how the bitcoin cheerleaders stopped posting after the price dumped.  Wait until the price falls back to $1000, you'll never see them post in this thread again, just as I predicted a few messages back.  

I've been trading for 25 years.  The #1 reason people lose money is greed.  Pigs eventually get slaughtered.    

It will be interesting to see whether it recovers the lost ground or if $7,800 turns out to be the pinnacle. You seem to know your stuff, I have only recently discovered trading but absolutely love it and am fascinated by it. Do you day trade or hold your positions long term or a mixture? I am slowly discovering the rules of different types of trades and finding out the costs of leaving trades open over night and over the weekend, that kind of thing. Can you give me some advice on it please? What is the ideal rule of thumb for leaving a trade overnight?
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Mr Anabolic
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« Reply #368 on: November 12, 2017, 06:05:57 AM »

Then $5600, then it recovered to $6400 after Asians bought the dip.  Just temporary though.  Already shipping back down.  The froth is melting off.    

A lesson is phycology...
Notice how the bitcoin cheerleaders stopped posting after the price dumped.  Wait until the price falls back to $1000, you'll never see them post in this thread again, just as I predicted a few messages back.  

I've been trading for 25 years.  The #1 reason people lose money is greed.  Pigs eventually get slaughtered.    

I also predict they'll be former bitcoin millionaires taking swan dives off tall buildings.
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Griffith
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« Reply #369 on: November 12, 2017, 06:15:59 AM »

I also predict they'll be former bitcoin millionaires taking swan dives off tall buildings.


Some people have even invested most of their life savings in Bitcoin...
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Mr Anabolic
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« Reply #370 on: November 12, 2017, 06:19:52 AM »

Some people have even invested most of their life savings in Bitcoin...

Bad idea... never go full retard.
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Mr Anabolic
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« Reply #371 on: November 12, 2017, 07:14:22 AM »

It will be interesting to see whether it recovers the lost ground or if $7,800 turns out to be the pinnacle. You seem to know your stuff, I have only recently discovered trading but absolutely love it and am fascinated by it. Do you day trade or hold your positions long term or a mixture? I am slowly discovering the rules of different types of trades and finding out the costs of leaving trades open over night and over the weekend, that kind of thing. Can you give me some advice on it please? What is the ideal rule of thumb for leaving a trade overnight?

Trading can be fun and lucrative.  Money management skills are crucial.  I've made money and I've lost money.  Fortunately, I made more than I lost.  

There are all kinds of trading system and styles out there and I've used practically all of them.  I prefer to be out by 4pm, so I mostly favored day trading and scalping.  I hardly ever leave a trade on overnight, and never over the weekend.  Too many things can go wrong.  You can put stops in, but the market can gap down overnight and blow through your stop (i.e. the stop never gets triggered).  You can also buy put options against your long positions, but this can be complicated if you are a beginner.  Also, do not use margin or over-leverage yourself.  If the trade goes underwater, you can wipe out your entire account.  I know a guy that did this, he lost 200K in one day during the dot.com bubble.  He had a hard time explaining that to his wife.  I only day trade with money I could afford to lose.  I have core portfolios that I still maintain today... mostly blue chip and utility stocks that all pay dividends.  

Besides day trading, I'm a big believer in contrary investing.  I accumulate and take long positions in the most hated asset classes, then I just wait.  Patience is the key.  This is how Warren Buffett (before he became a inside trading political hack) and Jim Rogers made most of their billions.

Over the past couple years I've been accumulating a position in precious metals.  They've been heavily manipulated (held down) over the last 6-7 years.  Silver is currently one of the most undervalued assets on the planet right now.  These markets are so manipulated now and algos are running the whole show.  It could take years for a stock market crash to materialize.  Then again, it could happen tomorrow.   Extreme patience is required.  Sometime after the crash I'll start buying stocks again.  There are cycles to every asset class.  Following the herd will work for a while, but when things go south the majority usually get caught flat-footed.  It's all a matter of timing.  
 
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« Reply #372 on: November 12, 2017, 09:50:13 AM »

Bitcoin Cash is deflating Bitcoin I would guess. I already warned about dilution of the brand. Here it is.

There's nothing stopping anybody from continually making a new "Bitcoin X" that is new and improved technology, and then the money flowing into that. Decentralized also means no way to legally defend against that.

So much for crypto as a store of value. "Digital Gold" my ass. Haha. Speaking of that "Bitcoin Gold" comes out tomorrow. Seriously.
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Rascal full
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« Reply #373 on: November 12, 2017, 11:34:14 AM »

Trading can be fun and lucrative.  Money management skills are crucial.  I've made money and I've lost money.  Fortunately, I made more than I lost.  

There are all kinds of trading system and styles out there and I've used practically all of them.  I prefer to be out by 4pm, so I mostly favored day trading and scalping.  I hardly ever leave a trade on overnight, and never over the weekend.  Too many things can go wrong.  You can put stops in, but the market can gap down overnight and blow through your stop (i.e. the stop never gets triggered).  You can also buy put options against your long positions, but this can be complicated if you are a beginner.  Also, do not use margin or over-leverage yourself.  If the trade goes underwater, you can wipe out your entire account.  I know a guy that did this, he lost 200K in one day during the dot.com bubble.  He had a hard time explaining that to his wife.  I only day trade with money I could afford to lose.  I have core portfolios that I still maintain today... mostly blue chip and utility stocks that all pay dividends.  

Besides day trading, I'm a big believer in contrary investing.  I accumulate and take long positions in the most hated asset classes, then I just wait.  Patience is the key.  This is how Warren Buffett (before he became a inside trading political hack) and Jim Rogers made most of their billions.

Over the past couple years I've been accumulating a position in precious metals.  They've been heavily manipulated (held down) over the last 6-7 years.  Silver is currently one of the most undervalued assets on the planet right now.  These markets are so manipulated now and algos are running the whole show.  It could take years for a stock market crash to materialize.  Then again, it could happen tomorrow.   Extreme patience is required.  Sometime after the crash I'll start buying stocks again.  There are cycles to every asset class.  Following the herd will work for a while, but when things go south the majority usually get caught flat-footed.  It's all a matter of timing.  
 

Thanks very much for taking the time to write this reply, very useful info and much appreciated.
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Griffith
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« Reply #374 on: November 13, 2017, 08:20:54 AM »

Bitcoin Cash, Bitcoin Gold, these 'forks' increase volatility and create uncertainty and is a major downside at the moment with these cryptocurrencies.


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