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Ren's old crypto thread || we know how to buy this stuff now (4 Viewers)

jon_mx said:
It is not stopping before $20k.   There will be shorts lining then, but I would not bet against it. 

The added overhead of our Fiat system and credit card fees make our money too inefficient.  Crypto has big advantage and is the future.   
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i have a position now and have been adding to it over the past few days. I still have $ to put into play and am hoping for a buying opportunity... but I am starting to wonder if I  will see 10,500 anytime soon or if that ship has sailed...  :shrug:   

 
I own BTC.  I wouldn't jump in now.  The big players control BTC now more than ever.  On-boarding money isn't near as easy as it was in 2017 when people were able to buy on credit.

I love the long term outlook but in the short-term (3-6 months) there will likely be a big dip to get in.  It's easy for big money to drop it quickly.  How many massive pump and dumps do we need to see to realize it.

 
ILUVBEER99 said:
I own BTC.  I wouldn't jump in now.  The big players control BTC now more than ever.  On-boarding money isn't near as easy as it was in 2017 when people were able to buy on credit.

I love the long term outlook but in the short-term (3-6 months) there will likely be a big dip to get in.  It's easy for big money to drop it quickly.  How many massive pump and dumps do we need to see to realize it.
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It's not slowing down before hitting 20k.

 
hooter311 said:
It's not slowing down before hitting 20k.
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I hope so.  i've held my core through all the swings since March 2017.  I know you have been in BTC far longer.  I'm not selling for at least 3-5 more years so i really don't care what it does short term.  Have just seen so many swings it's hard to think it won't dump again soon, although not as drastically as it did before.

 
ILUVBEER99 said:
I hope so.  i've held my core through all the swings since March 2017.  I know you have been in BTC far longer.  I'm not selling for at least 3-5 more years so i really don't care what it does short term.  Have just seen so many swings it's hard to think it won't dump again soon, although not as drastically as it did before.
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I sold out completely at 19k.  Bought back in around 8k and got scared and liquidated everything at around 6k on the way down for a significant punch in the shorts.  Came back in at around 4500 in a big way on the way up. This time I have the resources to hold on for the ride.  Will probably sell a portion off at 20k, but not much.  

I don't think the 80k by year end talk is looking too high.

 
hooter311 said:
I sold out completely at 19k.  Bought back in around 8k and got scared and liquidated everything at around 6k on the way down for a significant punch in the shorts.  Came back in at around 4500 in a big way on the way up. This time I have the resources to hold on for the ride.  Will probably sell a portion off at 20k, but not much.  

I don't think the 80k by year end talk is looking too high.
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Overall you've played the BTC moves great.  Wish i could say the same.  I've just held the entire time.  Still doing well since i bought fairly early, but damn woulda been nice to play it like you did selling at 19k and buying back at 50%+ discount.

I guess we haven't seen the 15% dumps over a 5 minute period recently.  Maybe the market has stabilized where buyers are protecting that kind of dump that has happened so many times over the past couple years.

 
I’m as bullish as anyone on BTC but I think we top out around 13.5k if not sooner, then consolidate for a month or so before aiming for 20k. That 13.5k level is the .618 fib retracement from the 3100 low.  The market won’t literally go straight up to 20k. That said, 10.5k may never be seen again. Probably best to get in now and expect a pullback rather than hope for a pullback and miss out. 

 
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jon_mx said:
Broke thru $12k.

.
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Didn't stop to even breathe. This is FOMO on steroids right now. I'll take it but I wish it was people rationally evaluating it as a revolutionary decentralized, transnational, secure, permissionless, censorship-resistant digital payment system (i.e. everything Libra isn't). When THAT day comes, look out..

 
Angry Beavers said:
Appreciate the insight here!
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You mean bull####?

Technical analysis is pointless.

I want to know WHY it's going up and so far only thing I can think of is the Libra/Facebook talk. Maybe people are gaining confidence in BTC as a store of value, but with this market seems to easy to manipulate. 

We're all gambling really. 

 
onionsack said:
Didn't stop to even breathe. This is FOMO on steroids right now. I'll take it but I wish it was people rationally evaluating it as a revolutionary decentralized, transnational, secure, permissionless, censorship-resistant digital payment system (i.e. everything Libra isn't). When THAT day comes, look out..
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FOMO hasn't even kicked in yet.  It is just starting to catch the public's eye again.  

 
Charlie Harper said:
You mean bull####?

Technical analysis is pointless.

I want to know WHY it's going up and so far only thing I can think of is the Libra/Facebook talk. Maybe people are gaining confidence in BTC as a store of value, but with this market seems to easy to manipulate. 

We're all gambling really. 
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TA is most definitely NOT b.s. or pointless. 

 
There is a ton more institutional investing going on right now, which gives the market both much more fuel to drive the price up and also will provide more stability to reduce the magnitude of the dips. 

 
Bitcoin touched $13k, and then pulled back a bit.   Looking like it will blow past that early today and we can start eyeing $14k.   Not sure why BTC is not picking up the rest of the market.   BTC and NEO are over half my holdings, but my other stuff like EOS, BNB and LTC aren't doing squat.   ETH is going up some, but nothing like BTC And NEO.  

 
Tbh, I think this movement is people that "played" the last time and have been watching it close. Next comes people that played last time but fell off entirely. After that will be the first trickle of the public. Then moon.

I keep a close eye but I can't explain the movement honestly. I'm just gambling.

 
https://www.cnbc.com/2019/06/26/bitcoin-soars-close-to-13000-hitting-a-17-month-high.html

Bitcoin has enjoyed a spectacular rally this year as investors look to major companies like Facebook getting involved in the crypto space. The social media giant announced plans for a cryptocurrency called Libra last week. The digital token will be used for payments and is being overseen by a consortium of companies including Visa and Uber.

There are other theories behind bitcoin’s move higher, including the idea that it may be viewed as a hedge amid ongoing U.S.-China trade uncertainty. Another reason for the rally, experts say, is that traders are anticipating a so-called “halvening” event next year that cuts the rewards to bitcoin miners in half.

The story in 2019 is in stark contrast with what happened in the market last year. Bitcoin plummeted more than 70% over the course of 2018, with other cryptocurrencies also falling sharply. That was after an almost $20,000 record high hit in late 2017.
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Halvening?  Huh?

 
ILUVBEER99 said:
I own BTC.  I wouldn't jump in now.  The big players control BTC now more than ever.  On-boarding money isn't near as easy as it was in 2017 when people were able to buy on credit.

I love the long term outlook but in the short-term (3-6 months) there will likely be a big dip to get in.  It's easy for big money to drop it quickly.  How many massive pump and dumps do we need to see to realize it.
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Could you explain this and who the big players are?  I thought the whole concept of crypto and bitcoin is that it totally eliminates the banks and the banking system as we know it.

 
Crypto is the future.  It is a bigger gamble not to be in.  It may not be in the infancy stage, but still in pre-school and plenty of time to see fantastic gains.   Over $13,500 already.  

 
pantherclub said:
so buy or wait for it to dip back again?
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I would be jumping in.  Maybe not all at once, but this thing is going to $20K really quick.  Maybe go 25% now.  And watch it.  There could be a pull back or it may just blow past $14K.  Either way, anothe 25%.

 
jon_mx said:
I would be jumping in.  Maybe not all at once, but this thing is going to $20K really quick.  Maybe go 25% now.  And watch it.  There could be a pull back or it may just blow past $14K.  Either way, anothe 25%.
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where do you see yourself selling some off at?

 
jon_mx said:
Goes up $850 in 30 minutes and pulls back $500 and back up $250 all in 5 minutes.   Crazy volatility
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This is the main thing that still scares me. There are big manipulators out there. Me and my money are grains of sand on the beach of bitcoin.

 
jon_mx said:
Crypto is the future.  It is a bigger gamble not to be in.  It may not be in the infancy stage, but still in pre-school and plenty of time to see fantastic gains.   Over $13,500 already.  
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100% this. I keep nagging all my friends to get in and have been for a couple years. I have 2 friends who have listened the rest don’t believe in it. BTC will hit $1MM per coin sooner rather than later. 2023 is my target year for $1MM BTC and I won’t be surprised if it’s a year or two sooner than that!

 
pantherclub said:
so buy or wait for it to dip back again?
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Nobody knows but the next bull market has definitely started so I’d get in now to be safe. 13.5k is a major retracement level (.618 fib) so a pullback from here is likely. That said, it could just as easily go straight to $20k or beyond before any pullback. 

 
Bought some this morning. Coinbase of course did two transactions and billed me twice then emailed me saying they will fix the one but uhhhhhhhh after today I’d rather they not. Any chance they’ll just let it ride? I emailed them asking them to keep it. 

 
my mantra right now:

"stick to the plan dummy. stick to the plan dummy. stick to the plan dummy."*

FOMO and Greed are powerful drugs yo

*plan is and has been and will be weekly buys for the near future. Essentially converting a small percentage of my income into BTC on a weekly basis #getoffzero

 
For anyone looking to #getoffzero nowadays, there is a ton more options (as compared to 2017 and earlier). Posted above, but here are two big onramp apps backed by major publicly traded companies (if you are worried about "scam" exchanges, etc.):

Bitsy (soon to have more than just BTC) - Overstock / Medici Ventures 

Cash App - Square, Inc.

 
Rhythmdoctor said:
Nobody knows but the next bull market has definitely started so I’d get in now to be safe. 13.5k is a major retracement level (.618 fib) so a pullback from here is likely. That said, it could just as easily go straight to $20k or beyond before any pullback. 
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So how useful is TA? Is it gonna pullback or go beyond 20k?

If you believed in TA there would be no need to back peddle in the same paragraph. 

I hope BTC makes us a lot of money, but I'm just trying to save to some stress/time. 

 
Charlie Harper said:
So how useful is TA? Is it gonna pullback or go beyond 20k?

If you believed in TA there would be no need to back peddle in the same paragraph. 

I hope BTC makes us a lot of money, but I'm just trying to save to some stress/time. 
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There are many ways to use TA. I tend to look at more macro timelines so I’ve been long since 4,100 because that’s when I saw confirmation on a trend change from bearish to bullish from a macro perspective. Having an idea of where we’re headed specifically from this price (13.5k) is not something I can confidently do as that’s a short term call but I’m sure there are tons of short term technical analysts who have a better micro view but that’s not me.

Also, I’m not trading BTC, I’m investing which is much different than trading. The poster I was responding to was asking about investing presumably which is why I ultimately suggested getting in now even though I personally think a pullback right around now is likely but for someone who just wants “in” on BTC, I wouldn’t count on a pullback necessarily.

Finally, TA is simply a tool to increase your probability in a given trade or position. It’s not a guarantee of anything. That’s why the good technical analysts never predict anything with certainty, just probable outcomes and they always have a plan if the market goes against probability based on what the charts are showing. 

 
JerseyToughGuys said:
For anyone looking to #getoffzero nowadays, there is a ton more options (as compared to 2017 and earlier). Posted above, but here are two big onramp apps backed by major publicly traded companies (if you are worried about "scam" exchanges, etc.):

Bitsy (soon to have more than just BTC) - Overstock / Medici Ventures 

Cash App - Square, Inc.
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Bitsy ——> tZERO as of tonight. Slick app

 
I don't want to kill all the excitement, I love Bitcoin it has made things easier for me as a form of payment but I'm hesitant on the investment side.  The last time we had a run buying and selling was slow and painful and most importantly expensive.  I paid $20 to transfer $5000, I can currently transfer that same amount for about $1. Also concerned about theft mostly because technically this is way over my head and I don't understand everything.

 
eoMMan said:
I haven't looked at their app but their website makes it looks super easy.

I wonder how the security of their wallet (which they say is your wallet) compares if you did a separate wallet on your own.  Any comments?
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they have yet to release the tech documents, but I think you have full custody via private. Your keys, your bitcoin. I would imagine they hold a copy as a backup too (so not 100% pure custody).

 
lumpy19 said:
I don't want to kill all the excitement, I love Bitcoin it has made things easier for me as a form of payment but I'm hesitant on the investment side.  The last time we had a run buying and selling was slow and painful and most importantly expensive.  I paid $20 to transfer $5000, I can currently transfer that same amount for about $1. Also concerned about theft mostly because technically this is way over my head and I don't understand everything.
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I am not investing in it because it is a superior medium of exchange. It is not right now, and may it may never be. (as an aside, this is kinda complicated, but you probably could have paid a lesser fee if you were willing to wait a longer time for the transaction to process. You are essentially bidding your way onto the blockchain)(also, how much have you paid to wire money in the past?)

I am investing in Bitcoin because its a superior store of value. It's incredibly scarce. It has anti-inflationary measures hard-coded. It's censorship resistant (that's why we've been able to use to fund sportsbooks for so many years). It's fungible (to an extent).

Even assuming it suddenly became 100 percent stable, with no future gains (or losses), it would outpeform the dollar USD every single day because the USD is being depreciated every single day because of things like Quantitative Easing, etc. 

 
Highly recommend the book "The Bitcoin Standard" for anyone who is curious about the economic theories behind BTC (Austrian Econ). It starts with a historical examination of the concept of "hard" currencies and all the problems the world has faced ever since we moved off the Gold Standard. 

 
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JerseyToughGuys said:
I am not investing in it because it is a superior medium of exchange. It is not right now, and may it may never be. (as an aside, this is kinda complicated, but you probably could have paid a lesser fee if you were willing to wait a longer time for the transaction to process. You are essentially bidding your way onto the blockchain)(also, how much have you paid to wire money in the past?)

I am investing in Bitcoin because its a superior store of value. It's incredibly scarce. It has anti-inflationary measures hard-coded. It's censorship resistant (that's why we've been able to use to fund sportsbooks for so many years). It's fungible (to an extent).

Even assuming it suddenly became 100 percent stable, with no future gains (or losses), it would outpeform the dollar USD every single day because the USD is being depreciated every single day because of things like Quantitative Easing, etc. 
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To answer your question I used the standard fee blockchain recommended.  I paid extra(I think around $80) to expedite my transaction because of the volatility at the time.  It still took 2 days to process my transaction and lucky me I benefitted because the climb continued but it stuck with me how slow the process was.

I typically pay nothing for the bank wires as the sports book covers that fee both in and out.

Appreciate the other info.

 
lumpy19 said:
To answer your question I used the standard fee blockchain recommended.  I paid extra(I think around $80) to expedite my transaction because of the volatility at the time.  It still took 2 days to process my transaction and lucky me I benefitted because the climb continued but it stuck with me how slow the process was.

I typically pay nothing for the bank wires as the sports book covers that fee both in and out.

Appreciate the other info.
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Fees are an issue, for sure. They will remain one until the Lightening Network fully develops (if it ever does). 

Books need to accept stablecoins imo.

 
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