Back up to $4000 after the FUD (Fear of Uncertainty and Doubt) panic that Dimon orchestrated last week. Funny thing is, JP Morgan was the 4th largest buyer of Bitcoin last week on the dip.
Coincidence? Nope.
Market manipulation? Yep.
Smart and strong hands held it and bought more on the low. Weak hands and stomachs sold off on the way down.
JP Morgan, and other bankers, are trying to get their greedy hands on all the cryptos they can, particularly the big boy coins (Bitcoin, Ethereum, Litecoin, Dash).
Bitcoin to over $8,000 in less than 6 months. Better get on the train.
@ Elite CNC Routing & Woodworks on Facebook. Check out my work. Too many positive BST transactions with too many members to list.
@guitarwes said:
Back up to $4000 after the FUD (Fear of Uncertainty and Doubt) panic that Dimon orchestrated last week. Funny thing is, JP Morgan was the 4th largest buyer of Bitcoin last week on the dip.
Coincidence? Nope.
Market manipulation? Yep.
Smart and strong hands held it and bought more on the low. Weak hands and stomachs sold off on the way down.
JP Morgan, and other bankers, are trying to get their greedy hands on all the cryptos they can, particularly the big boy coins (Bitcoin, Ethereum, Litecoin, Dash).
Bitcoin to over $8,000 in less than 6 months. Better get on the train.
questions. How can one tell that JPM was the 4th largest buying bitcoins last week? Do you have a link to the blockchain transaction? What is/are their wallet address(es)?
Successful BST transactions:
Buy and sold to Wondercoin,
Buy from: mbogoman, sol15g
@derryb said:
there are two sides to every trade. Someone's losing money with bitcoin
i disagree with this statement. Back in 2013-2014, i mined BTC and sold them for more than what I paid in electricity. I guess I won a little. Lets say the other side (the buyer) held on to it til today, they would have made 25X of their initial investment. That's 2500% If i did the math correctly. No one lost anything in this scenario.
Successful BST transactions:
Buy and sold to Wondercoin,
Buy from: mbogoman, sol15g
@derryb said:
there are two sides to every trade. Someone's losing money with bitcoin
i disagree with this statement. Back in 2013-2014, i mined BTC and sold them for more than what I paid in electricity. I guess I won a little. Lets say the other side (the buyer) held on to it til today, they would have made 25X of their initial investment. That's 2500% If i did the math correctly. No one lost anything in this scenario.
money gained has to come out of somebody's pocket. It don't grow on trees.
@derryb said:
there are two sides to every trade. Someone's losing money with bitcoin
i disagree with this statement. Back in 2013-2014, i mined BTC and sold them for more than what I paid in electricity. I guess I won a little. Lets say the other side (the buyer) held on to it til today, they would have made 25X of their initial investment. That's 2500% If i did the math correctly. No one lost anything in this scenario.
money gained has to come out of somebody's pocket. It don't grow on trees.
not in this situation. Oh, you are 100%, it did not grow on trees. It grew out of thin air (or electricity) in my case.
Successful BST transactions:
Buy and sold to Wondercoin,
Buy from: mbogoman, sol15g
@derryb said:
there are two sides to every trade. Someone's losing money with bitcoin
i disagree with this statement. Back in 2013-2014, i mined BTC and sold them for more than what I paid in electricity. I guess I won a little. Lets say the other side (the buyer) held on to it til today, they would have made 25X of their initial investment. That's 2500% If i did the math correctly. No one lost anything in this scenario.
money gained has to come out of somebody's pocket. It don't grow on trees.
not in this situation. Oh, you are 100%, it did not grow on trees. It grew out of thin air (or electricity) in my case.
something from nothing. Now that's what I call a solid investment.
People used matter to build machines that, using energy (produced by different people and machines) produce a product that people want to buy, whether gold coins or bitcoins.
@derryb said:
there are two sides to every trade. Someone's losing money with bitcoin
i disagree with this statement. Back in 2013-2014, i mined BTC and sold them for more than what I paid in electricity. I guess I won a little. Lets say the other side (the buyer) held on to it til today, they would have made 25X of their initial investment. That's 2500% If i did the math correctly. No one lost anything in this scenario.
In your situation until the person who bought your bitcoin sells there may not be a loser but they could potentially lose depending on sale price. Until the next transaction occurs we don't know if there will be a loser.
@guitarwes said:
Back up to $4000 after the FUD (Fear of Uncertainty and Doubt) panic that Dimon orchestrated last week. Funny thing is, JP Morgan was the 4th largest buyer of Bitcoin last week on the dip.
Coincidence? Nope.
Market manipulation? Yep.
Smart and strong hands held it and bought more on the low. Weak hands and stomachs sold off on the way down.
JP Morgan, and other bankers, are trying to get their greedy hands on all the cryptos they can, particularly the big boy coins (Bitcoin, Ethereum, Litecoin, Dash).
Bitcoin to over $8,000 in less than 6 months. Better get on the train.
questions. How can one tell that JPM was the 4th largest buying bitcoins last week? Do you have a link to the blockchain transaction? What is/are their wallet address(es)?
Direct quote from the article "JPMorgan Chase — the bank itself — was not buying the ETNs for itself. The screenshot reads JPMorgan Securities, which is the custodial arm of the company. As a custodian, JPMorgan Securities acts as an intermediary for client money. In a statement published on Reuters, JPMorgan spokesperson Brian Marchiony offers some clarification on the purchases in-question: “They are not JPMorgan orders. These are clients purchasing third-party products directly.” JPMorgan does not take a position on those types of client orders."
Successful BST transactions:
Buy and sold to Wondercoin,
Buy from: mbogoman, sol15g
Here we are, 3.5 years later and bitcoin is nearly 10x what it was when this happened. Congrats to anyone who held on to some.
@gdavis70 said:
A major Bitcoin exchange goes under because of a sustained black hat attack that siphoned off 350 million and this forum chortles because they think it affirms their suspicions that there is nothing useful about Bitcoin. This is akin to finding out the Nasdaq has a bug in their software.
The fact that a major player goes out of business and the currency retains it's value at close to 600 per seems to speak remarkably well of Bitcoin and it's future.
If some criminal syndicate managed to siphon off a comparable % of value from the Nasdaq or the NYSE the market would collapse.
People buy, sell and trade fractional bit coins all the time. If a dollar were worth the equivalent of 100k you would trade millidollars or something like that.
@guitarwes said:
Those who understand what blockchain technology can offer can see the potential and see the tides are changing in favor of the people holding cryptocurrency.
This I do not understand. Blockchain technology can only make so many bitcoins. There is a finite number. At some point bitcoins are not able to be used due to their high cost. Makes no sense as to how the "little people" can use this currency.
bob
A while back a tried to buy some Bitcoin. I tried via three different exchanges and was denied. All three rejections were due to the state I live in, physical, not mental. I've heard of dry counties, but a dry state? Statist! ;-) Only one company/exchange gave a link as to why, I opened it, looked like our tax code. I got confused...
Most of this crowd won't own stock shares of an established company with profits and dividends, much less invest in a promising growth company that currently operates at a loss, or buy/run cash flow positive rental real estate, are unlikely to buy enough ( % of net worth) of a digital currency to matter. Oh, i might buy 1/10 of a bitcoin just to say i did it, but bet big, no. Worked too hard to build it, I'll still prefer the gold i can hold, and land i can walk on, and a tiny fraction of a business i can buy it's products and visit it's address and go to it's shareholder meeting and it's a real thing. Yes those things are represented by legal papers and digital numbers, but buy pure Code stored on cloud computer?
So Bitcoin went from $10 ( My brother told me, don't ask) ) to $7000+.
Gold would need to be over $70,000 per oz. to match the appreciation.
Crazy times !
Only overvalued by about double, maybe triple at this price
5k was absolutely clowncar level stupid.
What would you classify 7K as, then?
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
My personal problem with this crypto currency isn’t how to get in, rather how to get out , afterward. Sure, the bitcoin has exploded in value, but how to profit ? Do you sell it or use it among vendors who accept it ? Still unable to wrap my head or arms around it.
My personal problem with this crypto currency isn’t how to get in, rather how to get out , afterward. Sure, the bitcoin has exploded in value, but how to profit ? Do you sell it or use it among vendors who accept it ? Still unable to wrap my head or arms around it.
Its not rocket science. How do you profit from your precious metals? Do you use your gold among vendors who accept gold? Bitcoin is no different. When I want to sell a physical ounce of gold , I take it to a local coin dealer and I sell it for cash. When I want to sell a Bitcoin, I sell it on one of the hundreds of "exchanges" and they give me cash. Just like when I sell a stock on E trade, the stock is sold, then I have cash in my E trade account, I wire the cash to my bank account. Same thing with bitcoin. If you have enough computer literacy to post a message on message board, you can buy and sell bitcoins. Though selling bitcoins is not wise. Buying and holding bitcoins is wise.
As a long time goldbug myself, I still dont understand why more goldbugs havent diversified into bitcoins over the last few years. What attracted me to gold 30 years ago, attracted me to bitcoin when I first read about it. Government cant print unlimited amounts, supply limited, decentralization, store of value, alternative to cash and stocks. I dont believe Bitcoin will ever be used as a medium of exchange, just like I dont think gold ever will either. I bought bitcoin as a store of value and alternative to fiat money.
I frequently read this thread mainly to make sure most of the long term gold bugs remain skeptical on bitcoin. It gives me assurance that bitcoin is still very early in the adoption phase and people still are skeptical on buying it as an alternative to gold and other stores of value.
I love to read all the negative things people write about bitcoin, so please keep them coming!!!!
"It’s no wonder governments fear the bitcoin phenomenon. They risk not only losing control of their fiat currencies, but also losing their ability to force contributions (i.e., taxes) from residents. And the pushback from the powers-that-be has only begun."
Look for the hardest "pushback" just prior to the coming stock market crash. Gotta eliminate the alternatives.
Comments
Back up to $4000 after the FUD (Fear of Uncertainty and Doubt) panic that Dimon orchestrated last week. Funny thing is, JP Morgan was the 4th largest buyer of Bitcoin last week on the dip.
Coincidence? Nope.
Market manipulation? Yep.
Smart and strong hands held it and bought more on the low. Weak hands and stomachs sold off on the way down.
JP Morgan, and other bankers, are trying to get their greedy hands on all the cryptos they can, particularly the big boy coins (Bitcoin, Ethereum, Litecoin, Dash).
Bitcoin to over $8,000 in less than 6 months. Better get on the train.
Too many positive BST transactions with too many members to list.
Lmao. Reminds one of the "gold to $10,000 and silver to $200" comments here and elsewhere from early 2011.
Liberty: Parent of Science & Industry
Cryptos (and blockchain) are a bit different than PMs Baley. On a side note, HALO's on a good move.
Too many positive BST transactions with too many members to list.
A LOT different, Wes!
Yes, a good week, month, and year. Thx!
Liberty: Parent of Science & Industry
questions. How can one tell that JPM was the 4th largest buying bitcoins last week? Do you have a link to the blockchain transaction? What is/are their wallet address(es)?
Successful BST transactions:
Buy and sold to Wondercoin,
Buy from: mbogoman, sol15g
there are two sides to every trade. Someone's losing money with bitcoin
Give Me Liberty or Give Me Debt
i disagree with this statement. Back in 2013-2014, i mined BTC and sold them for more than what I paid in electricity. I guess I won a little. Lets say the other side (the buyer) held on to it til today, they would have made 25X of their initial investment. That's 2500% If i did the math correctly. No one lost anything in this scenario.
Successful BST transactions:
Buy and sold to Wondercoin,
Buy from: mbogoman, sol15g
money gained has to come out of somebody's pocket. It don't grow on trees.
Give Me Liberty or Give Me Debt
not in this situation. Oh, you are 100%, it did not grow on trees. It grew out of thin air (or electricity) in my case.
Successful BST transactions:
Buy and sold to Wondercoin,
Buy from: mbogoman, sol15g
something from nothing. Now that's what I call a solid investment.
Give Me Liberty or Give Me Debt
More something from nothing
http://www.zerohedge.com/news/2017-09-20/bitcoin-jesus-says-another-network-split-coming-november
Look out for big block... tick tock
Big block.....we talking crate motors?
Knowledge is the enemy of fear
People used matter to build machines that, using energy (produced by different people and machines) produce a product that people want to buy, whether gold coins or bitcoins.
No coin-cident they called it mining
Liberty: Parent of Science & Industry
In your situation until the person who bought your bitcoin sells there may not be a loser but they could potentially lose depending on sale price. Until the next transaction occurs we don't know if there will be a loser.
My Ebay Store
i found an article that dispute @guitarwes' claim that JPM brought bitcoin. No, JPMorgan Did Not Just Buy Itself A Ton Of Bitcoin
Direct quote from the article "JPMorgan Chase — the bank itself — was not buying the ETNs for itself. The screenshot reads JPMorgan Securities, which is the custodial arm of the company. As a custodian, JPMorgan Securities acts as an intermediary for client money. In a statement published on Reuters, JPMorgan spokesperson Brian Marchiony offers some clarification on the purchases in-question: “They are not JPMorgan orders. These are clients purchasing third-party products directly.” JPMorgan does not take a position on those types of client orders."
Successful BST transactions:
Buy and sold to Wondercoin,
Buy from: mbogoman, sol15g
Same as for those who continue to think that JPM buys 100 years of silver production.
Knowledge is the enemy of fear
I love this thread so that I may learn..............but my head spins sometimes
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
Give Me Liberty or Give Me Debt
All we need is a sharp pin.
Where's the hysteria bubble?
Knowledge is the enemy of fear
The "everything but gold" bubble. Interesting times.
I knew it would happen.
Interesting that gold is up more than most asset classes over the last 15 years but it isn't in a bubble?
Knowledge is the enemy of fear
don't forget the blood pressure & cholesterol bubble
Successful BST transactions:
Buy and sold to Wondercoin,
Buy from: mbogoman, sol15g
Being retired, I'm content to just watch this computer currency drama unfold.
100% Positive BST transactions
BTC $5800.
Expected to rise to around 6888 before another big correction, then to around $13,000 in spring of 2018.
Too many positive BST transactions with too many members to list.
WANT TO KNOW HOW TO MAKE OVER A THOUSAND DOLLARS IN 5 DAYS? CLICK HERE! BUY BITCOIN! ;-)
I like the bubble chart. Thanks for posting.
100% Positive BST transactions
Zcash
Give Me Liberty or Give Me Debt
never could find out where to buy one, even when it was “cheap”. Hence, no deal for me.
Here we are, 3.5 years later and bitcoin is nearly 10x what it was when this happened. Congrats to anyone who held on to some.
People buy, sell and trade fractional bit coins all the time. If a dollar were worth the equivalent of 100k you would trade millidollars or something like that.
BTC = 5587 today... Down from 5750.
market cap 92.9 Billion
Total coins 16.6million.
A while back a tried to buy some Bitcoin. I tried via three different exchanges and was denied. All three rejections were due to the state I live in, physical, not mental. I've heard of dry counties, but a dry state? Statist! ;-) Only one company/exchange gave a link as to why, I opened it, looked like our tax code. I got confused...
BTC over $7000.
Projected to be right at $10k by years end.
I tried to get y'all on board when it was in the $3000's. Still not too late, believe me.
Too many positive BST transactions with too many members to list.
Most of this crowd won't own stock shares of an established company with profits and dividends, much less invest in a promising growth company that currently operates at a loss, or buy/run cash flow positive rental real estate, are unlikely to buy enough ( % of net worth) of a digital currency to matter. Oh, i might buy 1/10 of a bitcoin just to say i did it, but bet big, no. Worked too hard to build it, I'll still prefer the gold i can hold, and land i can walk on, and a tiny fraction of a business i can buy it's products and visit it's address and go to it's shareholder meeting and it's a real thing. Yes those things are represented by legal papers and digital numbers, but buy pure Code stored on cloud computer?
Liberty: Parent of Science & Industry
So Bitcoin went from $10 ( My brother told me, don't ask) ) to $7000+.
Gold would need to be over $70,000 per oz. to match the appreciation.
Crazy times !
100% Positive BST transactions
Ron Paul's take on cryptos
Give Me Liberty or Give Me Debt
The Mt Gox bitcoin exchange went bankrupt and people lost tens of millions of their bitcoin value. That's scary. https://www.wired.com/2014/03/bitcoin-exchange/
https://motherboard.vice.com/en_us/article/ywbbpm/bitcoin-mining-electricity-consumption-ethereum-energy-climate-change
What would you classify 7K as, then?
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
My dad told me money doesn’t grow on trees. I knew that. It has to be inside. That’s where it grows fastest.... in the dark.
Staying above $7,000 without China.
This looks bad.....Cheers, RickO
https://techcrunch.com/2017/11/07/a-major-vulnerability-has-frozen-hundreds-of-millions-of-dollars-of-ethereum/
how will bitcoin react in a financial crisis ?
http://www.oftwominds.com/blognov17/BTC-crisis11-17.html
I'd rather not contribute to a bubble. Let it go to the proposed 10k, then let it pop.
Interesting parallels drawn here regarding bitcoins and PMs in the throes of liquidity crises.
Here's a warning parable for coin collectors...
My personal problem with this crypto currency isn’t how to get in, rather how to get out , afterward. Sure, the bitcoin has exploded in value, but how to profit ? Do you sell it or use it among vendors who accept it ? Still unable to wrap my head or arms around it.
My personal problem with this crypto currency isn’t how to get in, rather how to get out , afterward. Sure, the bitcoin has exploded in value, but how to profit ? Do you sell it or use it among vendors who accept it ? Still unable to wrap my head or arms around it.
Its not rocket science. How do you profit from your precious metals? Do you use your gold among vendors who accept gold? Bitcoin is no different. When I want to sell a physical ounce of gold , I take it to a local coin dealer and I sell it for cash. When I want to sell a Bitcoin, I sell it on one of the hundreds of "exchanges" and they give me cash. Just like when I sell a stock on E trade, the stock is sold, then I have cash in my E trade account, I wire the cash to my bank account. Same thing with bitcoin. If you have enough computer literacy to post a message on message board, you can buy and sell bitcoins. Though selling bitcoins is not wise. Buying and holding bitcoins is wise.
As a long time goldbug myself, I still dont understand why more goldbugs havent diversified into bitcoins over the last few years. What attracted me to gold 30 years ago, attracted me to bitcoin when I first read about it. Government cant print unlimited amounts, supply limited, decentralization, store of value, alternative to cash and stocks. I dont believe Bitcoin will ever be used as a medium of exchange, just like I dont think gold ever will either. I bought bitcoin as a store of value and alternative to fiat money.
I frequently read this thread mainly to make sure most of the long term gold bugs remain skeptical on bitcoin. It gives me assurance that bitcoin is still very early in the adoption phase and people still are skeptical on buying it as an alternative to gold and other stores of value.
I love to read all the negative things people write about bitcoin, so please keep them coming!!!!
The Empire Strikes Back
"It’s no wonder governments fear the bitcoin phenomenon. They risk not only losing control of their fiat currencies, but also losing their ability to force contributions (i.e., taxes) from residents. And the pushback from the powers-that-be has only begun."
Look for the hardest "pushback" just prior to the coming stock market crash. Gotta eliminate the alternatives.
Give Me Liberty or Give Me Debt
https://www.bloomberg.com/news/articles/2017-11-07/bitcoin-rally-is-eroding-gold-s-appeal-top-online-vaulter-says