Looks like all the bitcoiners and Blockchainers have left PP
Well it looks like the popular kids in bitcoin and blockchain tech has gone on to greener pastures. I’ve been away a while and came back to see nobody’s home, and haven’t been for quite a while by the looks of things around here.
Queue the crickets.
I guess we’ll see you in the future.
i try to read your writings where I can , I bought Eth and Ltc thanks to you but missed Btc as I thought it was expensive at the time at $1800, have I missed the boat or should I get aboard now?, where to next.
thanks for your knowledge
It doesn’t make much sense does it? There should be a thriving discussion here. It’s starting to feel like I walked into the wrong bar. Back to Medium and Reddit regrettably.
I probably wouldn't get in now. It's gotten irrational with FOMO. I'm selling into this rally and waiting for a massive correction once the bit shorts come in with the futures trading about to begin. I plan to take SALT loans against my cheap bitcoin and let the loan pay for itself when the bitcoin price returns to the mean. And my loans against the crypto which I still own are tax-free. – No taxes on loans. I'll have my cake and eat it too.
Salt tokens are a great arbitrage right now. Open market $7.50 – credit on the SALT platform = $25 each with no plans to lower the price. Expect open market to match the platform floor.
SALT Lending program goes live at end of December. How's that for an easy 3x gain?
Thanks for your thoughts, Mark – after selling into the rally today, I was thinking about next step strategies. Today was crazy – I kept upping my stops as the price rose, and finally a dip triggered my orders. I missed riding all the way to the top because I had an appointment for the 90 minutes that all hell broke loose on GDAX, but I did OK all things considered. The action today was something to behold.
I noted from one of his recent posts that Charles wrote about a process that he used to come up with a price target of 17K . What seemed very far away as little as 10 days ago came astonishingly fast.
This reminds me of the mania for silver back in 1980. After doubling (10 -> 20) in 18 weeks, silver then proceeded to double in 4 weeks, with a $10 trading range in the last 1-week period.
Its that slope inflection in the last period that provides the clue to where you are in the process.
That's where I think we are in this phase of bitcoin.
Even on a log chart, the last 2 days, bitcoin has just gone vertical. You can see the mania reflected in the upside breakout. From what I understand, this last phase doesn't last too long. Could it double? It could. It could also collapse by 30-50% too. Things don't just move comfortably sideways from a peak like this.
I wonder how my code will handle the reversal. When will it say to bail out? Since its a trend-follower, it isn't built to deal with these sorts of peaks.
Candle code says 67% that yesterday's "closing white marubozu" marks a top. RSI-7 is 98.57. That's just crazy.
For me, this is training for – what I believe – gold will go through at some point in the future. I'm using bitcoin to help me learn when I should get out – what does it feel like, what does the chart do, etc.
So I bought 1/4 BTC back earlier this year when it was at $1300, mainly just to test the water and play with the Ledger Wallet that I bought on Mark's recommendation. Then I got too busy, and BTC got "too expensive", and I bought no more. But backslid a bit by buying a bit of ETH, so now I have about .15 BTC. OK, ignorant question: How do I "sell" my BTC at this assumed peak? Shapeshift to ETH? I'm not hooked up to any exchanges- Coinbase can't do business in Hawaii….Thanks, Aloha, Steve.
My sense was that we all got to watch tulips in real time. Very exciting!
I don't know where anything goes from here, only that the technology of blockchain and distributed ledgers are here to stay.
Like everyone, I have no idea how humans and this new idea are going finally settle out, but barring some form of grid or internet disruption, we can safely predict a vast new ecosystem of digital experiments.
There will be winners and losers. History suggests that the first idea out of the gate (Bitcoin) is very unlikely to be the ultimate winner. After all, we should remember, that just like fiat money there's no intrinsic value to any digital 'coin' just what we humans ascribe to it. Also similarly, producing unlimited quantities of these representations can be done virtually for free.
I am enormously enamored with the idea of the digital representations being tied to something tangible. Say, for example, every barrel of oil that comes out of the ground has a coin attached to it that then is consumed along with the oil. To burn oil you'd need to have access to these coins. Then energy and money are linked, as they really should be.
Same for food. Or gold, or copper.
At any rate, huge congratulations for everyone who both rode this wave and got out along the way. I don't know where Bitcoin goes next, but the massive blow off super-exponential top coupled with this textbook H&S top says the excitement is over for a while and the corrective phase (along with tears for many) has begun.
(And yes, I am jealous that bitcoin still trades like a market with humans involved creating reliable patterns and blow-off tops and all the rest. Computers have ruined all the other markets, and I trust they will ruin Bitcoin too. So the question becomes, "where next?")
My 'guess' is that this minor drop is equivalent to Isacc Newtons first 'exit' point. When BC reaches 40k then get ready. I predict this bubble will make all previous bubbles look like mist in the morning.
Thatchmo – You can spend you bitcoin on Gold and have it send to you. Then I suppose there are places in Hawaii to sell your gold back for cash.
Here's one place, but I know there are others:
Also there are other online places to buy and sell like:
Good luck, see you on the upside 🙂