Bitcoin. Still laughing?
Bitcoin. Still laughing?
Do you think somebody was laughing, Mark?
Would love to hear your up-to-the minute views, re: China crackdown… ICO fervor cooling (or not?), etc. Thanks, Jim
Sometimes I 'surf around' YouTube to get a sense of the current sentiment of bitcoin and crypto currencies. I'm actually surprised that in some circles the sentiment is still stuck in 2013. There are some people like Pete Schifty, who I think of specifically when recalling the quote by Upton Sinclair:
"It is difficult to get a man to understand something, when his salary depends upon his not understanding it!"
I suspect many PP members still think of bitcoin as a Tulip bulb – but they rarely wander out of their personal bubbles to see other paradigms including cryptocurrencies. They are the late-late-late adopters.
Whenever we see a big price drop – they are quick to point out that they knew the bubble was about to pop and they were right all along. And laugh.
And then it corrects and they remain silent. Do they grumble? Are they still laughing?
I can't fit much into 140 characters – but you can use it to find my posts on Medium.
Or follow me on Facebook Blockchain Lead Facebook page. Or my up-and-coming 'Watch My Wallets" Facebook page.
Having been involved with cryptos for just about 7 years now I can say I always laugh. When it goes up I laugh and when it goes down I laugh. When it goes up my investment increases and when it goes down there is another buying opportunity.
As fo China a few years ago the government "cracked" down on cryptos. then they relaxed. The sheer numbers of Chinese had a lot to do with driving the market. Chinese miners accounted for the majority of coins mined. In the last couple of years there have been other players in the game. Japan and S. Korea especially. So the Chinese skakeup was a blow but for people on a site devoted to resiliency I doubt anyone here could find a more resilient asset.
The rumors are that the government is wanting to license everyone involved in mining and exchanges. Their economy is very tightly controlled especially in terms of currency. Many Chinese were moving currency out of the country through cryptos. The government is trying to clamp down on it,
In a short time I believe the government will have put controls in place and China will be back on board. The chines have invested a lot and I do not think the miners , exchanges and those heavily invested in cryptos are just going away. Time will tell but as always BTC the resilient keeps on truckin.
I just posted this up on Medium today. Addresses a bit of some current news (Jamie Dimon and the Chinese) put into perspective.
Some magazine contacted me about republishing it – thinking about it.
I know many here are eager to hear your thoughts on recent developments in the BTC/ crypto universe. I'm particularly interested in hearing your take on Jamie Dimon's comments and how they're being interpreted in the deeper network, the China lockdown, and especially new reports that central banks are considering the pluses and minuses of issuing their own crypto.
Also hoping Chris et al will include you and/ or your input when preparing the upcoming crypto webinar alluded to in the Q and A of the prior webinar.
The *resiliency* of this newest asset class is increasingly being tested. Of course anything could still happen, hero or zero, but IMHO it's starting to resemble the growing pains, angst and uncertainties of adolescence. I'm becoming more convinced each day that I might actually see BTC reach adulthood.
Ah I see.
Well I like bitcoin because it seems to respond to my code better than the more standard instruments. I think there aren't as many artificial players in there. I mean who can know for sure, but I like to go by evidence, and that's what my evidence is showing. It reminds me of how the DJIA used to perform back in the 50s.
Also, here's a simple goodie for free. If you were to just trade the 9 MA crossings, you would have done fairly well with ETH. Here's an example.
With this trading mechanism, it looks like ETH needs a close above 292 to signal a buy. My code has already signaled a buy with ETH – it seems to work better than the 9 MA, but in return, there are a lot more headfakes you have to endure.
I've posted a link on here several times in reply to this request but the moderator must not allow it. You can find it on Medium. Just do a Google search on my name and' Medium" and you'll find it.
Comments welcome. 😉