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Merged Bitcoin - Part 3

ChrisBFRPKY said:
Perhaps I'm just being petty but as a crypto investor who lives with the constant negativity of the naysayers it makes me feel good to say "I told you so".
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I'm with you regarding the naysayers. The amount (and frequency) of the woo used to justify saying "this is the end of bitcoin (this time for sure)" is astounding.

Nevertheless my warning against putting all of your eggs in the one basket still applies. Bitcoin is still a commodity whose ownership is concentrated in relatively few hands and is susceptible to frequent bouts of (suspected) price manipulation.
 
It's a magic number. After the March drop a lot of $5K BTC was purchased. Bird in the handers sold at 2X their investment. Not a bad return. It's hard to find a 2% 1 year CD these days and it's unlikely to find one that'll pay 100% for a term of a few weeks like BTC just did.

Chris B.
 
ChrisBFRPKY said:
It's a magic number. After Just before the March drop a lot of $5K $10K BTC was purchased. Bird in the handers sold at 2X their investment broke evem.
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ftfy.

Picking the right point in time makes a lot of difference. Anybody who purchased in December 2017 is still kicking themselves.
 
Choosing Time! For those that used their $1300 and bought back in on May 9th, you now have another 12% gain. Either cash out all or part of it to be safe and walk away a winner now. Bird in handers will probably cash in $1300 worth (the original $1200 + $100 profit) and let the remaining BTC balance ride.

Those who bought in at the top in 2017 and have done nothing to strengthen their position from the previous BTC all time high will probably continue to wait. These folks will likely sell the moment the price of BTC reaches the price they paid, or just short of $20k. There are several magic numbers to get thru before then though.

Chris B.
 
ChrisBFRPKY said:
Choosing Time! For those that used their $1300 and bought back in on May 9th, you now have another 12% gain. Either cash out all or part of it to be safe and walk away a winner now. Bird in handers will probably cash in $1300 worth (the original $1200 + $100 profit) and let the remaining BTC balance ride.

Those who bought in at the top in 2017 and have done nothing to strengthen their position from the previous BTC all time high will probably continue to wait. These folks will likely sell the moment the price of BTC reaches the price they paid, or just short of $20k. There are several magic numbers to get thru before then though.

Chris B.
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A kind of pilgrim's progress.
 
ChrisBFRPKY said:
Choosing Time! For those that used their $1300 and bought back in on May 9th, you now have another 12% gain. Either cash out all or part of it to be safe and walk away a winner now. Bird in handers will probably cash in $1300 worth (the original $1200 + $100 profit) and let the remaining BTC balance ride.
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$100 profit. Woohoo, I'm rich!
 
Price Drops 7% in an Hour After Bitcoin Sees a Ghost
Bitcoin was spooked by a ghost Wednesday, tumbling 7% in the span of an hour on reports a previously inactive address dating to the blockchain network’s earliest days had transferred more than $300,000 of the cryptocurrency...

The sudden drop came as crypto traders lit up Twitter after bitcoin blockchain data showed the address, inactive for 11 years, had moved up 50 BTC to different wallets, then another 9.99 BTC earlier in the day. The address' owner is unknown at present but the coins were valued at around $379,200 at press time.
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A mere $379,200? Not a good sign. This suggests that Bitcoin's 'value' is largely speculative, and the bottom could drop out at any time. Just imagine what will happen when Satoshi Nakamoto cashes in his 980,000 Bitcoins!
 
Roger Ramjets said:
Price Drops 7% in an Hour After Bitcoin Sees a Ghost

A mere $379,200? Not a good sign. This suggests that Bitcoin's 'value' is largely speculative, and the bottom could drop out at any time. Just imagine what will happen when Satoshi Nakamoto cashes in his 980,000 Bitcoins!
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For a moment putting to one side the technical picture, the fundamentals never change.
There is an infinite supply of digital money.
It is a matter of time to patiently watch infinite supply catastrophically atrophy demand.

Rat poison .
 
Samson said:
For a moment putting to one side the technical picture, the fundamentals never change.
There is an infinite supply of digital money.
It is a matter of time to patiently watch infinite supply catastrophically atrophy demand.

Rat poison .
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Did you forget that this crap has already been rebutted many times before?
 
psionl0 said:
Did you forget that this crap has already been rebutted many times before?
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The rebuttals don't work.
There is a finite quantity of gold in the universe.
There is an infinite quantity of digital gold in the universe.

I can always find more rat poison, I do every year in my glass houses, the rats disappear despite my love of nature except where it screws my income.
 
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Samson said:
The rebuttals don't work.
There is a finite quantity of gold in the universe.
There is an infinite quantity of digital gold in the universe.
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Yeah, you just keep telling yourself that. :rolleyes:

Samson said:
I can always find more rat poison, I do every year in my glass houses, the rats disappear despite my love of nature except where it screws my income.
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There is only one bitcoin and its price isn't going to drop just because somebody adds another crypto to the many that already exist.
 
psionl0 said:
Yeah, you just keep telling yourself that. :rolleyes:


There is only one bitcoin and its price isn't going to drop just because somebody adds another crypto to the many that already exist.
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There is only one gold on the periodic table and that guarantees unique attribution.
There is only one bitcoin but identical clones are bound to be made.
Not so with gold.
 
Samson said:
There is only one gold on the periodic table and that guarantees unique attribution.
There is only one bitcoin but identical clones are bound to be made.
Not so with gold.
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It's easy to create new currency. It's not easy to give it value. It's not like printing money. Money already have value. Sure, if you create more, you are lowering it, but the new pieces automatically have substantial value when they are created. Same with gold.
Gold already has agreed value. Newly mined gold has the same value. If you transmute lead by neutron bombarding into gold, the gold has the same value.
But if you create new currency, it has no value at all. It's like saying 'everybody can draw expensive painting, therefore art trading is pointless'.
 
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psionl0 said:
We must be looking at different charts. On May 10 the price fell by nearly 20% and recovered by May 14. It's been pretty much "steady as she goes" since.

https://coinalyze.net/bitcoin/usd/coinbase/price-chart-live/
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BTC charts on May 10 thru May 14th have nothing to do with the dates I advised actions.
I advised a sell off on May 8th, a buy back on May 9th and a choice for May 15th at the time of my postings. Percentages mentioned in my posts were based on live pricing at that time and were spot on winners.

Viewing the price increases and decreases between those dates is inconsequential. The only dates that matter are when the profit percentages add up and you push the button to take action one way or the other. The price you pay on the day you buy and the price you receive on the day you sell.

Chris B.
 
Samson said:
There is only one gold on the periodic table and that guarantees unique attribution.
There is only one bitcoin but identical clones are bound to be made.
Not so with gold.
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You do know that gold is a precious metal and that there are lots of other precious metals right?

Chris B.
 
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