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  • guitarwesguitarwes Posts: 9,266 ✭✭✭

    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.
  • BaleyBaley Posts: 22,661 ✭✭✭✭✭

    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

  • guitarwesguitarwes Posts: 9,266 ✭✭✭

    Cryptos (and blockchain) are a bit different than PMs Baley. On a side note, HALO's on a good move.

    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
  • BaleyBaley Posts: 22,661 ✭✭✭✭✭

    A LOT different, Wes!

    Yes, a good week, month, and year. Thx!

    Liberty: Parent of Science & Industry

  • BillsonBillson Posts: 77 ✭✭✭

    @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

  • derrybderryb Posts: 36,941 ✭✭✭✭✭

    there are two sides to every trade. Someone's losing money with bitcoin

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

  • BillsonBillson Posts: 77 ✭✭✭
    edited September 20, 2017 3:51PM

    @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

  • derrybderryb Posts: 36,941 ✭✭✭✭✭

    @Billson said:

    @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.

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

  • BillsonBillson Posts: 77 ✭✭✭

    @derryb said:

    @Billson said:

    @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

  • derrybderryb Posts: 36,941 ✭✭✭✭✭

    @Billson said:

    @derryb said:

    @Billson said:

    @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.

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

  • SangoSango Posts: 177 ✭✭✭

    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

  • cohodkcohodk Posts: 19,187 ✭✭✭✭✭

    Big block.....we talking crate motors?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • BaleyBaley Posts: 22,661 ✭✭✭✭✭

    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

  • bigjpstbigjpst Posts: 3,108 ✭✭✭✭✭

    @Billson said:

    @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.

  • BillsonBillson Posts: 77 ✭✭✭

    @Billson said:

    @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)?

    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

  • cohodkcohodk Posts: 19,187 ✭✭✭✭✭

    Same as for those who continue to think that JPM buys 100 years of silver production.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • 1630Boston1630Boston Posts: 13,786 ✭✭✭✭✭

    I love this thread so that I may learn..............but my head spins sometimes :smile:

    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

  • derrybderryb Posts: 36,941 ✭✭✭✭✭

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

  • ChrisRxChrisRx Posts: 5,619 ✭✭✭✭

    All we need is a sharp pin.

    image
  • cohodkcohodk Posts: 19,187 ✭✭✭✭✭

    Where's the hysteria bubble?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • jmski52jmski52 Posts: 22,899 ✭✭✭✭✭

    The "everything but gold" bubble. Interesting times.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 19,187 ✭✭✭✭✭

    @jmski52 said:
    The "everything but gold" bubble. Interesting times.

    Interesting that gold is up more than most asset classes over the last 15 years but it isn't in a bubble?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • BillsonBillson Posts: 77 ✭✭✭

    @cohodk said:

    @jmski52 said:
    The "everything but gold" bubble. Interesting times.

    Interesting that gold is up more than most asset classes over the last 15 years but it isn't in a bubble?

    don't forget the blood pressure & cholesterol bubble :):)

    Successful BST transactions:
    Buy and sold to Wondercoin,
    Buy from: mbogoman, sol15g

  • metalmeistermetalmeister Posts: 4,586 ✭✭✭✭✭

    Being retired, I'm content to just watch this computer currency drama unfold.

    email: ccacollectibles@yahoo.com

    100% Positive BST transactions
  • guitarwesguitarwes Posts: 9,266 ✭✭✭

    BTC $5800.
    Expected to rise to around 6888 before another big correction, then to around $13,000 in spring of 2018.

    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭

    @Sango said:
    But muh ones and zeroes! Store of value!

    A thousand off the top, please, barber

    $3790 and dropping quick, where my bagholders at?

    WANT TO KNOW HOW TO LOSE OVER A THOUSAND DOLLARS IN 10 DAYS? CLICK HERE! BUY DIGITULIPCOINS!

    WANT TO KNOW HOW TO MAKE OVER A THOUSAND DOLLARS IN 5 DAYS? CLICK HERE! BUY BITCOIN! ;-)

  • metalmeistermetalmeister Posts: 4,586 ✭✭✭✭✭

    I like the bubble chart. Thanks for posting.

    email: ccacollectibles@yahoo.com

    100% Positive BST transactions
  • derrybderryb Posts: 36,941 ✭✭✭✭✭

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,364 ✭✭✭✭✭

    never could find out where to buy one, even when it was “cheap”. Hence, no deal for me.

  • gdavis70gdavis70 Posts: 256 ✭✭✭

    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.

  • gdavis70gdavis70 Posts: 256 ✭✭✭

    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.

    @AUandAG said:

    @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

  • gdavis70gdavis70 Posts: 256 ✭✭✭

    BTC = 5587 today... Down from 5750.

    market cap 92.9 Billion
    Total coins 16.6million.

  • renman95renman95 Posts: 7,037 ✭✭✭✭✭

    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...

  • guitarwesguitarwes Posts: 9,266 ✭✭✭

    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.

    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
  • BaleyBaley Posts: 22,661 ✭✭✭✭✭

    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

  • metalmeistermetalmeister Posts: 4,586 ✭✭✭✭✭

    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 !

    email: ccacollectibles@yahoo.com

    100% Positive BST transactions
  • derrybderryb Posts: 36,941 ✭✭✭✭✭

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

  • 1st_Place1st_Place Posts: 23 ✭✭✭

    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/

  • grote15grote15 Posts: 29,703 ✭✭✭✭✭

    @Sango said:
    3485 -- some store of wealth!

    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.
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,364 ✭✭✭✭✭

    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.

  • renman95renman95 Posts: 7,037 ✭✭✭✭✭

    Staying above $7,000 without China.

  • bronco2078bronco2078 Posts: 10,244 ✭✭✭✭✭

    how will bitcoin react in a financial crisis ?

    http://www.oftwominds.com/blognov17/BTC-crisis11-17.html

  • ChrisRxChrisRx Posts: 5,619 ✭✭✭✭

    I'd rather not contribute to a bubble. Let it go to the proposed 10k, then let it pop.

    image
  • dpooledpoole Posts: 5,940 ✭✭✭✭✭

    @bronco2078 said:
    how will bitcoin react in a financial crisis ?

    http://www.oftwominds.com/blognov17/BTC-crisis11-17.html

    Interesting parallels drawn here regarding bitcoins and PMs in the throes of liquidity crises.

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,364 ✭✭✭✭✭

    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.

  • lseeconlseecon Posts: 318 ✭✭

    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!!!!

  • derrybderryb Posts: 36,941 ✭✭✭✭✭
    edited November 8, 2017 9:22AM

    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.

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

This discussion has been closed.