Author Topic: Bitcoins - about to hit $5,000 per coin today!  (Read 892524 times)

Flexacon

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7700 on: July 16, 2021, 12:22:03 AM »
Whales are accumulating more at these levels and have been taking their BTC and ETH off exchanges, indicating they have no intention to sell.

Who are the Whales though?

Lets say you're a family office hedge fund and your world is about to crumble, how great would it be if you could hide some wealth somewhere first.


Mayday

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7701 on: July 16, 2021, 12:35:21 AM »
And yet whales are accumulating more and amounts are increasingly going off exchanges into cold storage or for staking.

Wallets 1,000+ Have been dumping for months. Those are the whales. I have seen many repeat the same thing you have yet I don’t know where that data is coming from. I have seen some coins leaving exchanges data but it isn’t coming from whales.

Over time the masses will be trading over the second layer via lightening network. So these will be hundreds of millions of people who don't appear on the base layer. And indeed the base layer will become consolidated by larger players, institutions, HNWs, banks, brokers, custodian service providers, old school hodlers, lost private keys, etc. So, what we really need to be looking at is adoption of lightening wallets. And that metric is growing at a stunning pace.

ETH has overtaken BTC for growth in wallets which makes sense as ETH is defi. What is going to be interesting is if Saylor, the self elected CEO of Bitcoin will block projects that might raise regulatory concerns over bitcoin therefore putting his investment at risk.

His own words, he want the top layer as BTC which is a parking lot for money (makes sense). He does not want anything else than that. If you want to make payments, you move from the BTC layer into local currency in order to make a payment. He doesn’t want the US (and therefore probably anybody) to perform payments in BTC. The regulatory risk is to treat for him.

It makes a lot of sense what he says. I’m all for it but I just don’t think it will perform how people think it will. Gold is supposedly the thousands of year proof of inflation hedge. Look at the price chart, parabolic spikes and then decades of nothing.

Ironically gold looks a lot like a Bitcoin chart but on a longer timescale where peaks trigger around events. Hence why I say HoDL isn’t much good because you spend 90% of the investment life in downtime.

Indeed people who purchased Bitcoin for 20k were underwater for 4yrs. Who is to say people who bought at 64k will be underwater for 6yrs? The next round might be a decade waiting? If Bitcoin is digital gold, it stands to reason it should behave like gold which means decades of lows and parabolic peak around monetary events.

Mayday

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7702 on: July 16, 2021, 12:38:28 AM »
Who are the Whales though?

Lets say you're a family office hedge fund and your world is about to crumble, how great would it be if you could hide some wealth somewhere first.

Whales are 1,000+ wallets holders but they have been dumping for months (glassnode data). 

Currently they are decreasing in size very very slowly as we grab along.

I have seen Someparts same message getting around but I believe it originates from the coins leaving exchanges data and someone said ‘it’s whales’ but it isn’t. It then just becomes gospel that it’s whales.

Crypto influencers are cherry picking the good data and encouraging people to buy (some of them are dumping on their followers).

pellius

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7703 on: July 16, 2021, 02:13:33 AM »
BTC has been stuck at the same level for over a month now. Why isn't it moving?

FitnessFrenzy

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7704 on: July 16, 2021, 02:24:19 AM »
HEX now at $ 0.174

Jakobslander

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7705 on: July 16, 2021, 02:28:26 AM »
What exchange do you use for purchase of Hex?

I respect Richard Heart. I think he is one of the few voices of truth in crypto and the other day he singlehandedly OWNED Ben Armstrong's BitBoy crew while on their show.

"1"

Uniswap.

RH is really smart. One of the things that attracted me to his project was how he was able to explain his ideas clearly and concisely. He completely annihilates everyone he debates, that's why they call him scammer all the time, because he continually reminds them of how little they really know about cryptos, which, let's face it, is the reality right now. I, for the life of me, don't get how or why maxis keep harping about how decentralized Bitcoin is, yet, almost 50% of all BTC are owned by 50 addresses. How about BTC being un-confiscatable? Well, I see the Justice Department selling Bitcoin all the time so... These are the things that Richard brings up over and over and over. He warned people that the stolen Mt. Gox coins were going to hit the market one day and tells folks when there are movements in those suspected addresses. You will not hear that from the Vays or Woos of this world.   

 

Jakobslander

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7706 on: July 16, 2021, 02:30:01 AM »
HEX now at $ 0.174

I think we're going to break 0.2 today or tomorrow.

HEX stakers got a 45% kickback yesterday from the morons that un-staked. They basically gave me 25k.

Can't make this shit up.

Jakobslander

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7707 on: July 16, 2021, 02:45:54 AM »
Whales are 1,000+ wallets holders but they have been dumping for months (glassnode data). 

Currently they are decreasing in size very very slowly as we grab along.

I have seen Someparts same message getting around but I believe it originates from the coins leaving exchanges data and someone said ‘it’s whales’ but it isn’t. It then just becomes gospel that it’s whales.

Crypto influencers are cherry picking the good data and encouraging people to buy (some of them are dumping on their followers).

Whales are selling, but that selling pressure is being absorbed by the folks holding 1-10,000 coins, that's why the price hasn't gone down decisively. In reality, whales are only taking some profits on the climb up to 300k. Most of these people bought at 3k and 30k is a 10x. For them, it's a winning trade already. From here on in it's the cherry on top. I can guarantee you that bullish news are going to hit the market soon and make Bitcoin go through the roof again.


gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7708 on: July 16, 2021, 03:01:59 AM »
Uniswap.

I, for the life of me, don't get how or why maxis keep harping about how decentralized Bitcoin is, yet, almost 50% of all BTC are owned by 50 addresses. How about BTC being un-confiscatable? Well, I see the Justice Department selling Bitcoin all the time so...

Can I suggest you read the whole thread? If you do so, your questions will be answered.

First, it is false that 50% BTC is owned by 50 addresses. This is a non-sense quote that some idiots for some reason like repeating.

Second, over time you will see hundreds of thousands of individual owners represented as a single wallet as they are holding via an exchange or custodian. Your comment as as idiotic as me saying 50% of all money is owned by 50% of the banks (not realizing that's its people who actually use banks to store their money.

Second, speaking of fiat currencies, you do realise that around 50% of the total wealth is owned by 1% of the population. This is not necessarily a bad thing as it confirms that effort in the long term equates to wealth, which is how things should be if we want to reward productivity.

Of course BTC can be confisicated if you provide your private keys to the person wishing to confiscate it. It cannot be confisicated unless you share those private keys. So, if you keep your coins with a 3rd party, on an exchange, yes of course they can be lost, stolen, etc.

Jakobslander

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7709 on: July 16, 2021, 04:08:52 AM »
Can I suggest you read the whole thread? If you do so, your questions will be answered.

First, it is false that 50% BTC is owned by 50 addresses. This is a non-sense quote that some idiots for some reason like repeating.

Second, over time you will see hundreds of thousands of individual owners represented as a single wallet as they are holding via an exchange or custodian. Your comment as as idiotic as me saying 50% of all money is owned by 50% of the banks (not realizing that's its people who actually use banks to store their money.

Second, speaking of fiat currencies, you do realise that around 50% of the total wealth is owned by 1% of the population. This is not necessarily a bad thing as it confirms that effort in the long term equates to wealth, which is how things should be if we want to reward productivity.

Of course BTC can be confisicated if you provide your private keys to the person wishing to confiscate it. It cannot be confisicated unless you share those private keys. So, if you keep your coins with a 3rd party, on an exchange, yes of course they can be lost, stolen, etc.

I wasn't talking to you.

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7710 on: July 16, 2021, 04:46:49 AM »
Didn't some getbiggers bought Bitcoins? They should cash in while it's still hot now!

Bitcoin to be 6th largest reserve currency by 2030:
http://www.cnbc.com/2015/11/03/bitcoin-to-be-6th-largest-reserve-currency-by-2030-research.html

We have progresses a lot since 2015 predictions. Bitcoin is already the worlds 3rd largest currency.

https://decrypt.co/39425/bitcoin-is-3rd-largest-world-currency

SOMEPARTS

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7711 on: July 16, 2021, 05:15:49 AM »
BTC has been stuck at the same level for over a month now. Why isn't it moving?


Because the guys on Youtube are still wearing hoodies and not stepping up their pump game from the stimmie marks.  ;D

The only way you would believe those dorks is if you were strongly hunting for confirmation bias.


SOMEPARTS

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7712 on: July 16, 2021, 05:22:45 AM »
By personalising this discussion on the appearance and/or my background and my father, as opposed to keeping it objective, you are engaging in what we refer to as an “ad hominem response". Whilst commonly done on discussion forums, many would consider such an approach towards an informed discussion to be an uncivil, illogical, and ultimately an unconstructive approach which focuses on some characteristic myself rather than what I am actually doing and achieving. As for hoodies, most of our future tech leaders now wear these from time to time. We don't care much for how we look like. And we know a suit makes no-one more intelligent. We care more about what our tech actually does, as opposed how the person who created it looks like.


Was my description of how he came into the crypto space inaccurate? Sometimes you can judge a book by its cover.

Mayday

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7713 on: July 16, 2021, 06:20:10 AM »
Whales are selling, but that selling pressure is being absorbed by the folks holding 1-10,000 coins, that's why the price hasn't gone down decisively. In reality, whales are only taking some profits on the climb up to 300k. Most of these people bought at 3k and 30k is a 10x. For them, it's a winning trade already. From here on in it's the cherry on top. I can guarantee you that bullish news are going to hit the market soon and make Bitcoin go through the roof again.

The number of 1,000+ coin wallets are decreasing, hence whales are selling. Therefore the overall population of whales is decreasing. You understand yes? You can’t include those wallets in your ‘they are buying’ comment because that would be incorrect. Otherwise post the on chain chart and I’m happy to be wrong.

The price has gone down decisively, the charts show this. It’s a bear market. Need to wait for the bottom. It’s that simple.

Of course there will be pumps. Nobody is disputing that. The argument is the bottom is not in and therefore any pump that happens in the near future will die off and we go lower with each retracement.

You and I have common ground, you like alt coins and so do I.

Theoak*

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7714 on: July 16, 2021, 03:17:25 PM »
Who are the Whales though?

Lets say you're a family office hedge fund and your world is about to crumble, how great would it be if you could hide some wealth somewhere first.

You can get a fair idea on big hodlers 500-1k entities but that doesnt really paint the whole picture. I believe there are much more than whats  listed via on chain analysis.

For instance if youre a big hodler then you appreciate  privacy btc can afford you.  Myself, I generate a new address each time I deposit btc into my hardware wallet. If I need to spend it, transfer it,  I use hardware + electrum which allows me to select individual addresses to send from.  I assume if youre been in this long enough then big hodlers are somewhat tech savy and security conscious.

So one could be hodling 5btc, 50btc, or even 500btc and even on-chain  anaylsis  wouldnt detect  it.  Hell, few years back my wallet was sent a dust attack both ltc and btc wallets from nefarious actors to see the actual amount  im hodling. Those dust coins  have been frozen.

Jakobslander

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7715 on: July 16, 2021, 04:24:01 PM »
The number of 1,000+ coin wallets are decreasing, hence whales are selling. Therefore the overall population of whales is decreasing. You understand yes? You can’t include those wallets in your ‘they are buying’ comment because that would be incorrect. Otherwise post the on chain chart and I’m happy to be wrong.

The price has gone down decisively, the charts show this. It’s a bear market. Need to wait for the bottom. It’s that simple.

Of course there will be pumps. Nobody is disputing that. The argument is the bottom is not in and therefore any pump that happens in the near future will die off and we go lower with each retracement.

You and I have common ground, you like alt coins and so do I.



IMHO, it's a wave 2 of a 5 wave sequence bud. The only difference is that the powers-that-be have to show you the precipice before they turn the spigots back on.

Happens all the time.

Mayday

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7716 on: July 16, 2021, 04:47:27 PM »
This chart is clearer ;)

1,000+ Size wallets have been dumping for some time.

This chart doesn’t give any hint that these participants have begun accumulating again and is still in a downward trend.

look to the far left and see what accumulation looks like in coins and price action. Just like in March 2020 We need a major capitulation event to occur in order to form a bottom before the market  can begin accumulating again.


Important dates to watch are:
17th-19th July for GBTC unlocks.
26th July for Tesla financial reporting which will confirm if Tesla still holds BTC…… this is the big one!

Griffith

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7717 on: July 17, 2021, 03:00:19 AM »

Mayday

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7718 on: July 17, 2021, 04:15:03 AM »
ETH is something I really like. Forget the market for the moment.

As someone who purchases lots of toys and I use other people’s money to pay for them, the loan process is so shit and is as slow today as it was 20yrs ago.

We should be able to walk into a motorbike or car dealership, say I’ll take that one and then do the invoice/loan/payment all in an app and walk away with the vehicle 15 minutes later. That is something I can really get behind as a technology.

The bank loan process is such bullshit. I can use 1k USD to leverage into 100k in 2 seconds in the crypto exchange yet it will take 5 working days to apply for finance, approval, payment.

LurkerNoMore

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7719 on: July 17, 2021, 08:37:48 AM »
The number of 1,000+ coin wallets are decreasing, hence whales are selling. Therefore the overall population of whales is decreasing. You understand yes? You can’t include those wallets in your ‘they are buying’ comment because that would be incorrect. Otherwise post the on chain chart and I’m happy to be wrong.

The price has gone down decisively, the charts show this. It’s a bear market. Need to wait for the bottom. It’s that simple.

Of course there will be pumps. Nobody is disputing that. The argument is the bottom is not in and therefore any pump that happens in the near future will die off and we go lower with each retracement.

You and I have common ground, you like alt coins and so do I.

How will you know when it is reached?

LurkerNoMore

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7720 on: July 17, 2021, 08:39:58 AM »
A little off topic, but I saw this article today of this country destroying the equipment from illegal crypto mining operations.  Apparently, over $1M worth of equipment.  The operators are accused of stealing about $2M worth of electricity. 

Newbie question, but after they mined the coins (or whatever), wouldn't they be stored online in a wallet?  Or do most miners store them on their hard drives?

https://www.yahoo.com/finance/news/malaysia-crush-1069-crypto-mining-rigs-steamroller-131251559.html

FitnessFrenzy

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7721 on: July 17, 2021, 10:42:13 AM »

Griffith

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7722 on: July 17, 2021, 11:42:09 AM »


All the more reason for crypto to exist.

As well as DEFI.

LurkerNoMore

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7723 on: July 17, 2021, 12:04:00 PM »
How many is jumping on this one?   :D

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The El Salvador government has plans to launch a native cryptocurrency that consumers will be able to use for services, Latin American digital newspaper El Faro reported Friday night.
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a_pupil

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #7724 on: July 17, 2021, 12:08:01 PM »
How many is jumping on this one?   :D

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The El Salvador government has plans to launch a native cryptocurrency that consumers will be able to use for services, Latin American digital newspaper El Faro reported Friday night.
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NarcoCoin to the moon