I remember reading in a recent thread, which I now can't find since I didn't bookmark the post, that there was a good place to buy bitcoin. Something about where you were treated as a market maker.......basically differently than a regular purchacer. This, made it much less expensive to purchase bitcoins than on Coinbase or a similar exchange.
Any info would be much obliged!
Have any of you good folks checked out the Trezor? It's a very interesting device I stumbled upon that allows you to capture you bitcoins on a 'Bitcoin safe' and store them essentially in a cold storage offline. Unhackable.
I tried it out and it actually works! Good for those looking to diversify their exposure.
I noticed in one of the recent public posts that Turd is finally paying attention to bitcoin!!! Knew he'd get there in the end, good on ya Craig.
You still need bitcion on your charts tab though ;-)
Heres how I like to look at the current bull trend, note price is shown using log scale. Bitcoin has held within this fork very well so far, but spiked slightly above a couple of times. If we manage to have another spike to the top trendline that will be a target exceeding $1000 which I think is in line with Turds own prediction.
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If you look at Bitstamp 1w chart, still on log price scale. You can see first and second halvings marked with blue vertical lines.
Not shown on this chart is bitcoins first bubble which took bitcoin from less than 1$ above $30. Prior to both halvings bitcoin was recovering from large bearish correction from all time high bubble and then starting to recover. The lead up to both halvings look similar with new bull trend developing and a couple of small mini bubbles on the way.
After the first halving bitcoin went into full blown bubble mode, spiking to $266 then £1200, still the current all time high.
I'll leave it up to you to decide if the second halving will also produce another massive bubble.
Clif High has been very 'articulate' and graphic on the ascent of Bitcoin. There's a treasure trove in his reports and twitter re the sawtooth and then too steep to walk grade up along with Yuan and USd numbers along with some general timings.
Came across this in his replies - the author is on twitter - seats for everyone dot com. Saying same as you w forecast - I think and that almost always gets me in trouble FWIW. Looks like this gent has made up his mind.
SamSchlepps, yes that analysis looks similar to my own hope for bitcoin in terms of a new drastically higher prices. I wouldn't like to attempt to predict an exact shape or top. But there are good reasons to think it may play out this way.
Segregated witness should allow bitcoin to scale to these new levels. As many would know on this forum bitcoin and gold and silver will all benefit from fiat currency devaluations or even collapse.
Clearly bitcoin is trending up against gold in recent months.
As a footnote to the above post: I found the price spikes in gold and bitcoin during the US election quite interesting.
Both gold and bitcoin spiked high during the initial realisation Trump looked like winning. (Both viewed as safe haven?) But then both gold and bitcoin gave up all gains quite soon after. Price action very similar in both assets. Why they suddenly reveresed?
But then a huge divergence, while gold crashes below key technical levels and now looks aweful (manipulated??) Bitcoin reverses and resumes its bullish trend.
My suspicion that Ive expressed here many times in the past is that bitcoin much harder to manipulate than gold?? After all this time the evidence seems to keep supporting my theory. Both have the same or similar pressures to rise in value, eg an escape from monetary debasement and QE, capital controls, political turmoil etc etc. But gold has an Orwellian kind of boot stamping down on it. Bitcoin doesn't
Looks like a rising wedge during an overextended trend at the moment. You can also spot signs of distribution on the smaller timescales. Not a bad place to take some profits imho, a possible short candidate if you feel brave. Bitcoin will go much higher in the future, but not yet.
As a sidenote, Bloomberg's put Bitcoin's spectacular rise in the spotlight again. Just as they did on 28 October and the morning of 3 November. Check your charts to see what happened. ;-)
Bitcoin has decidedly breached both the $800 resistance and the resistance line of the channel it's been in for over a year. On top of that this is a breakout of the cup and handle formation it's been forming. In short: This is going a lot higher. Probably a phase change.
Looking at the chart another time, I see that the trend extension that started late october was on the 61.8% retracement of the downswing from the 2013 highs. Another lesson learned.
Hey all, crypto noob here looking to buy his first bitcoins. I wanted to know if there were any other cryptocurrencies my fellow turdites might recommend me buying in addition to Bitcoin?
I have been looking at both ethereum and monero. Any thoughts?
I can't find BTC over USD 1160 (Yuan 8038) in blockchain.info charts but zerohedge published "bitcoin china" chart showing 8896 Yuan top and drop to 6200
current fiatleak has USD 973 Yuan 6720
Clif High old forecast had bitcoin in USD peak at 1088 and drop to 888 before climb to 1488 (back before he got caught in his own hype)
He says China population is in charge of BTC market going forward and temporal marker in China of 8888 (roughly USD 1288) Yuan is significant. Zerohedge chart says BTC made it to that point last night!
I hope I have some cash available when/if BTC comes back to USD 888.
Clif High forecasts that China will fight the adoption of bitcoin by its population, but will eventually surrender and bitcoin will start being used by a billion more people.
The problems and benefits of a country's currency being used as an international trade settlement (part of being an international reserve currency) are summed up in Triffin Dilemma
Keynes recommended the Bancor..and now the IMF is pushing the SDR as a basket, but the countries making up the SDR would still have to run trade deficits to make SDRs work.
Bitcoin, incorruptible (I hope) and not under the control of a government, and not requiring physical movement of gold bars around, would be perfect for the international trade settlement function along the new silk road China is pushing all the way to Europe. Imagine a world with gold as the main part of international reserve and bitcoin as the international trade settlement vehicle (and other part of the reserve) Trade could be balanced! No Triffin dilemma! That shows a way for Clif's outlandish future values for bitcoin to not be completely silly.
s1lverbullet wrote: Hey all, crypto noob here looking to buy his first bitcoins. I wanted to know if there were any other cryptocurrencies my fellow turdites might recommend me buying in addition to Bitcoin? I have been looking at both ethereum and monero. Any thoughts?
Personally I don't own either of them. If you get one of those two I would recommend Monero as Ether is in a downtrend right now vs Bitcoin. Ethereum Classic is one of the few altcoins that I have a position in, technical picture is especially good vs Ether IMHO, as I've shown in the cryptocorner.
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Listened to this last night:
My main takeaway was that the massive China volume on fiatleak.com COULD be trading activity in China exchanges where the Yuan/BTC/Yuan conversion costs are so low that short-term traders can be active (as well as wash sales within the exchange) to goose up the reported volume.
It is hard to know for sure, but the panelists suspect real China volume (if you subtract out short term trading and wash sales) would make up half of the worlds volume. Way less than the 95 per cent shown at Fiatleak.com
Bitcoin looks like it might surpass price of 1 ounce of (digital comex) gold. Gold is the yellow line along the top.
The only one that interests me is Dash at the moment.
Bitcoin is breaking to new highs against the dollar and looking to do what I've predicted for a long time, overtake the price of 1 ounce gold.