Explaining what is to come

Hey, I've done a few AMA's an even one drunk one... I think. I trade futures for a prop firm in Chicago, mostly oil, but this is how I understand what is going to happen in the next year or so and why. This may be a little long.

First: all of you are most interested in what crypto will do. Probably today, but within the next few days, you will see a strong bullish candle close near the high of day on Bitcoin. It won't seem like a reversal, but it will be reasonable 4-7%. Nobody is willing to short Bitcoin through the printing and effective QE (quantitative easing) that is tether but what is more important is that people aren't afraid anymore.

Bitcoin will rise to 18,440 give +/- 300 at which point it will fall to 1k, possible triple digits. It's important to understand who bought up the price of bitcoin from 10k-20k in such a short period of time. It was the average joe, mechanic investor with his life savings. We say these people are "trapped." They got into a buzzing investment and immediately lost 50% of their money. These people have no appetite for continued risk and especially when they see and hear from their friends that the market is making people 20% yearly anyway, they will leave... at the moment they can't. If you look at markets and recessions, they all typically end at 50% and that is what people are comfortable being trapped at max with for whatever reason.

As a result you will see 10k-18k-1k... The tether problem will explode eventually, but it won't now. It's estimated that only 6-10% of all "fiat" money in bitcoin at the moment is tether aka artificial. It's a small percentage of total market cap, but that's really not the same thing. Think 40 billion created 250 billion in market cap with slippage etc.

I'm going to go on about something a little different in the next post, but since I've come here a few times I've decided to create an Alias that I use when out at bars- Edwin. Irrelevant, maybe.

Other urls found in this thread:

macrotrends.net/1319/dow-jones-100-year-historical-chart
youtu.be/VosfxChTxVg
tim.blog/2017/06/04/nick-szabo/
explorer.acinq.co/#/
etherscan.io/address/0xab5801a7d398351b8be11c439e05c5b3259aec9b
bitcoin.org/bitcoin.pdf
twitter.com/AnonBabble

>prop futures firm in Chicago
hiring? local, C/ Java, algo/math skillz... been wanting to break into it for a while...

welcome back. if BTC drops to triple digits I'm hanging myself.

Bump.

Bitcoin dropping from 18k to 1k are you serious? Almost seems laughable.

Don’t get me wrong I love your posts even if you are larping, it’s interestinf as fuck regardless. But a drop of 17k in price is almost absurd.

Wouldn’t you suggest shorting from 18k then?

So we all know bitcoin cannot go down in the short term (around three months) because of tethers, but it could trade sideways; however, that will not happen either.

I know most of you don't look into forex or anything else. Right now the USD is plummeting in value, partly due to many things. There is a rumor going around that China with support from Germany and a few other liberal European players will downgrade the United State's debt rating. What this means is that the debt is riskier and we have to pay more on the interest, making it harder for Trump to release new bonds to fund his projects and damage his "legacy" for his next election. For example, the USD index has lost about 14% of it's value and 20% against the Euro. This is why Trump selected a new Federal reserve chair today. He may tell the new Fed to not raise interest rates, as planned because of this.

The dollar is important because people see failing "fiat" currencies as a reason to go into gold and crypto. Crypto and gold will both rise, but as I have explained, the average Joe is looking to flee that market. At some point, with both of these assets on the rise, Gold will explode higher because the money will finally be free around 18440 bitcoin. looking for a target of 1450, then 1650 with not too much trouble, possibly higher on Gold.

The US dollar will continue to fall, dropping down to about $1.40-1 Euro. Stocks will continue. Oil will hit $89 WTI by Q4 as that is the quarter OPEC says oil will be rebalanced Brent $100. This will all be aided by USD falling.

macrotrends.net/1319/dow-jones-100-year-historical-chart

Here's something that nobody really understand with how market cycles really work. If you go to the link I've provided above and look at the Dow Jones 100 year historical charts and make sure they're adjusted for inflation, it may be clear to you that the markets trade sideways around half the time.

Adjusted for inflation the Great depression in 1929 didn't break the previous high for 25 years. Similarily, 1980's were completely flat due to inflation, but markets went "up" technically.

In our lifetimes we are familiar with this, 2000-2013 the S&P didn't break the high made in 2000.

What does that mean? It means that assets behave irrationally and then do nothing. Particular fundamental causes skyrocket every asset class all at once for a period of time and then do nothing for a VERY long time. This could be due to presidents, war etc.

You will hear everyone who knows just a little about investing thinking that there will be a big dip this year of around 10% in S&P because it went up around 25% last year and historical average is 7%. They are wrong.

Long term traders are aware of this, so they are leveraging themselves as much as possible to pump whatever they can for as long as this lasts. This is why warren buffet says be greedy when others are fearful, he didn't mean be greedy during recessions as during those times many companies are not making money, which is against his investment philosophy.

So when I said before that Oil will skyrocket and Gold will skyrocket, it's only a result of a number of other markets doing the same, it doesn't really matter what it is.

Think of it like this, you're a bank and make a few billion on the S&P last year, but it's getting too risky to keep buying, so you find another sleepy market to invest that few billion into to "diversify." That market will then start "breaking out" and as it does they sell a bit at a time and buy dips to increase leverage.

>There is a rumor going around that China with support from Germany and a few other liberal European players will downgrade the United State's debt rating.
can you link some of this. proof of rumours and where a brainlet can view historical evidence of the US debt rating

crypto isnt like these markets it is fundamentally useful to a whole class of people who do not have access to the american stock market

go on......

As an addendum to this. If you see it happen once, you will see it happen across a number of different diversified groups, it just happens in a specific order, Emerging markets, biopharmaceutical, etc.

People will say certain stocks are not behaving rationally and in a lot of cases since people just buy ETFs the pessimists are probably correct.

However, there's only a small window and it begins with people thinking things are rising irrationally, then they capitulate and trends die in Euphoria.

I heard that Netflix has a P/E ratio of 600+ from somebody today. Think about that. If someone bought that company from the Edward the black prince during the 100 years war in France, they would just be breaking even this year.

Netflix would require a user base of 1billion just to have that ratio at around 25-35.

One day people will all say, well of course it was overvalued, if there is a recession and people lose their hats. Today? It doesn't matter.

I think you guys see a lot of the pumping of assets with crypto. There will be an accumulation phase and then pump/dumb. The difference is that when this happens in normal markets there are more people to absorb the dump and offer better liquidity to the people who created the trend. The "funds" will eventually buy these things for the sake of diversification.

somehow i can't see btc losing 95% of its value. adoption rates are low among normals anyway, the pump is due to whales and bots.

There is no way btc will drop to 1k over a short period of time
The reason you dont understand the dow jones is because you arent using a constant yardstick. No cpi does not account for loss of purchasing powet of the dollar because it puts the price of consumer goods as a benchmark when the purchasing power cost of consumer goods has been decreasing exponentially since the industrial revolution. If you want to see the pattern in the dji price it in gold. China is moving against the petro dollar because it has grown powerful and has not eaged war on every oil producing country since the 1960s. Crypto is the one thing that can stop world reserve petro yuan backed in gold apart from wwiii which looks ripe for the picking in north korea

literally no one cares about gold anymore.
With the dollar failing and people get back to where they were before in crypto there's no way they're gonna think "Oh, might as well take a chance with gold, fuck it"

Wanna grab a beer after work sometime? I'm normally downtown. Been in crypto for a few years now and well into six figures. Let's chat!

If btc drops to triple digits I will literally buy as much as I can

what do u think of clif high's prediction of 100k. he was right last year and he has data to look at the noone else does.

Good stuff. We need more of this around here.

Of course nobody cares about Gold, it has been trading sideways for over 2000 years. In ancient Rome an ounce of Gold would buy a nobleman a fine tunic a fine leather belt and a fine pair of leather sandals. In todays terms, $1300 buys a nice suit/belt/shoes.

It only protects against inflation.

It's just something that happens when you work in these places. If it seems possible then the idea spreads. It doesn't matter if it happens or not because it's reflected in the price action

Maybe you fucking homos can toss eachother off in the men's room.

Remember when you introduce your new boyfriend to your parents to be sure to let them know you met on a porn website known for hentai and child pornography

>gold trades sideways
>gold can't bubble
>gold protects against inflation

No one's gonna buy shit gold and even if they did it would just bubble more and pop

I'm going to take a wild guess that this is bitfinex'd and he is pulling a last ditch effort to buy his coins back at $1000.
If not, he's a larper memeing.

so nowhere I can look at US debt rating.
Realistically what should I do between right now and the end of the year

What the fuck?

Create a tripcode faggot

>The difference is that when this happens in normal markets there are more people to absorb the dump and offer better liquidity to the people who created the trend. The "funds" will eventually buy these things for the sake of diversification.
so you're saying crypto will be + $2 trillion market cap?
youtu.be/VosfxChTxVg
user you sound very similar to what vitalik is saying towards the end of this video, snowball effect of ppl buying for diversification.

>Here's something that nobody really understand with how market cycles really work.
george soros understands, and so do i

>So when I said before that Oil will skyrocket and Gold will skyrocket, it's only a result of a number of other markets doing the same, it doesn't really matter what it is.
so user are you holding gold and crypto at a 1:1 ratio?

>For example, the USD index has lost about 14% of it's value and 20% against the Euro. This is why Trump selected a new Federal reserve chair today. He may tell the new Fed to not raise interest rates, as planned because of this.
so why aren't more U.S. citizens buying crypto as the dollar collapses? also why is Peter Schiff always right?

>The tether problem will explode eventually, but it won't now. It's estimated that only 6-10% of all "fiat" money in bitcoin at the moment is tether aka artificial. It's a small percentage of total market cap, but that's really not the same thing. Think 40 billion created 250 billion in market cap with slippage etc.
you do know bitfinex has literally $1.6 billion in Taiwanese banks. phil potter has already confirmed this. there is $1 in a bank somewhere in this world for each tether supply that exists. also you say eventually, so why the fuck would you try to time this and not buy the tether pump?

>As a result you will see 10k-18k-1k...
kek

The only way to measure the price of something across time is with gold. Everything degrades relative to gold with time making it the value datum. Using anything but gold to look at price overtime is like measuring the length of football field with a yardstick that changes every year and then saying the length of the field is changing.

KYS faggot
You and your new internet boyfriend

I was studying Murphy and from that my view is that the economic expansion phase of the cycle is on. seeing things consistent with that like rising commodities, yields, foreign currencies, energy, falling dollar, bonds, utilities, financials, etc.

Are you gay?

cause it's ok if you are
everyone's a little gay

wtf OP.....Your "alias" is my actual name. This is seriously fucking with me....it has to mean something

kys reddit

this is so dumb LOL sub 1k BTC? fuck off. sub 10k would have been a more believable LARP. OP you have brain damage for suggesting this.

Wanna grab a beer?

I also forgot to say that the initial buying of Bitcoin into this reversal will happen during the US/Euro trading day and not the Asian, even though the Asian markets have higher trading volume of crypto.

There's a certain order and personality to the way the day is handed off to the next day zone. The West created the last crypto pitfall and I've never really seen the Americans wake up and get caught in an unsuspected directional change without making the breakout reverse back to baseline and slightly past that to create a bear trap to get fills.

It's counter productive to create a new trend when a lot of the volume of the day is just trying to get fill, so Asia will have to wait. This sounds totally bonkers, but it's just something that happens.

Haha. $1k. Bitcoin will never be under $5K for at least a few years. Hard pass.

>The West created the last crypto pitfall
You're gonna have to start providing more credibility. For instance how much experience do you have?

Is this the first time you've been involved in crypto? At this point I'm pretty sure I have more experience in both crypto AND prop trading than you.

alright, this is 100% larp, leaving the thread
sage

>This sounds totally bonkers, but it's just something that happens.
k i believe you internet user

Just from reading this post OP has tipped his hand that he's got more knowledge than most, there's certain specific characteristics about the sessions the fact that OP knows about either means hes really extremely observant or someone taught him and they dont just teach anyone but one you learn it, its soo obvious your jaw would hit the floor.

OP says something very contrarian and you all attack him
the quality of posts on Veeky Forums are clearly pajeetistani.
OP thanks for the detailed analysis and for your thoughts. i highly disagree with you in terms of BTC falling back to triple digits. I can only see this happening if G20 politicians take Orwellian measures to suffocate crypto and criminalize anyone who has a portfolio/mines it. but because in the west we like to think that we live in a democracy the people will fight back. and the harder the government pulls the more the people will push because it would be proving a very important point and that is they are afraid of it's success which is ironically bullish news for crypto. you failed to explain your reasons for it's demise to triple digits. go ahead

It's unproven that there is anything backing tether, but that is something for another time.

You guys have all seen the typical asset deflation graph, you are currently about to start the "return to normal."

$900USD/BTC is below the mean.

Why don't we discuss why the Dip is happening at this point in the first place and why tether was created? I'm not sure exactly, but I've started a hypothesis.

Think of Satoshi, he's anonymous with at it's peak around 17 billion worth in Bitcoin. He was almost the richest man in the world, but he didn't sell. Bitcoin is having genuine issues with block size and competition from other cryptos, Bcash etc. There are improvements coming for Bitcoin, but it takes time > 1 year. One of the major issues with Bitcoin is that it really has to be kept inefficient.

tim.blog/2017/06/04/nick-szabo/

>Listen to this podcast with some of the creators of Cypto, it will give you an idea. They don't even believe Satoshi is a single person, but a group because of how advanced blockchain coding was to create-- of course they do since they didn't figure it out.

They argue that Bitcoin needs another layer of coding on top of it to handle small transactions (Starbucks) but it doesn't have that. So now bitcoin is being threatened at a relatively vulnerable time in it's existence.

So now back to Satoshi. First, I don't think he will sell until he is the richest man in the world because I have never heard of anybody deciding that it is "good enough" at 17 billion. Secondly, as we have seen from tether, two billion in buys can do quite a lot to prop up a market, let alone 17 billion in sells. The market liquidity needs to be exponentially higher than it is today for him to get out- he is trapped.

This person can't really sell, however, he is under threat. I haven't connected this dot yet, but it's convenient that there would be a crypto depression because it would thin the herd.

You've obviously never worked for a bank or a prop shop. OP is saying pretty basic things which were likely provided to him in an email from New York based analysts.

In fact I'm almost certain this is where OP got his information. The dollar weakness stuff is all en vogue right now after Mnuchin and Trump's comments. China/Germany thing has been a rumor for a while now in financial circles.

What's your age & profession? Probably young and a student, right?

your larp is stupid and so is anyone suggesting BTC can go under 1k this year.

did you also know that OP is a faggot?

Kek

Lightning Network already has nodes running on mainnet. There is a lot of hype surrounding that, probably enough to give us at least one more freakish BTC bullrun this year in anticipation of that. Also Satoshi is obviously dead.

>US/Euro/Asian trading day
>in crypto
when the fuck will this meme end. This isnt the stock market where they have an actual closing time per day. Crypto doesnt sleep and the people from the US trading crypto, the majority of them are synced to the European and Asian day times because that is when all the major pumps start
its only the retarded day trading americans who start buying mid to late pumps, and its always them who get burned when it dumps, its alway them who panic sell which is why we see the dumps during mid to late afternoon us day time

Interesting post, thanks OP.

Don't wanna add to the fud, but I've had a weird feeling over the past few day about eth crashing hard over the next 2 months.

>tim.blog/2017/06/04/nick-szabo/
is this the hour long one with naval? because i have listened to that 3 times now.

>$900USD/BTC is below the mean.
so are you setting buy orders @ $900?

also can you answer my questions to whether you hold any crypto?

>They argue that Bitcoin needs another layer of coding on top of it to handle small transactions (Starbucks) but it doesn't have that.
lightning network is now on the mainnet as of two weeks ago. here are all the current nodes / channels currently running explorer.acinq.co/#/

>This person can't really sell, however, he is under threat. I haven't connected this dot yet, but it's convenient that there would be a crypto depression because it would thin the herd.
i am pretty sure satoshi didn't create bitcoin to be the richest person in the world. also those 1 million BTC still haven't moved since like 2011 and i highly doubt they ever will

>user has weird feeling about crypto price
fascinating

>Theres specific repeating characteristics in FX in the different sessions and nobody publicly talks about it.
We all talk about it. I'm lost on how that applies to crypto, however.

OP is a faggot larper

It's not a conspiracy that Bitcoin dropped the most during the last dip during trading hours when Asia was asleep, that's all I meant.

Back to what I was really interested in seeing if people could discuss....

Suddenly a large portion of cryptos threatening a few more legitimate ones disappear. Bitcoin may not be the best, but is improving.

A key difference is that the creators of Litecoin and Ethereum sell out after they IPO, or at least partially in the case of Ethereum leaving low long term confidence in those compared to BTC. Think of it like Elon musk and Tesla, Satoshi is still holding.

I don't yet see how he could have assisted in a crash though, even though it would seem logical for him that he should in an attempt to make his coin come out on the other side in a few years with the same relevance in the space.

I may not have more knowledge than most, but I know more than some people on Biz. I think people do not understand how long trends go on for. Bitcoin not gaining any value for even a few months causes quite a lot of capital flight because the people holding it are all 18 and trying to make money this week. I do not think the G20 will attempt to intervene.

>It's not a conspiracy that Bitcoin dropped the most during the last dip during trading hours when Asia was asleep, that's all I meant.

The last crash was in 2014 and it was caused by Mt. Gox. Since then Chinese investors have dominated crypto. They are now heavily active in Korean exchanges which is why the Korean gov't is implementing more stringent KYC/AML.

The correction from 19.5k to ~9k was just that, a correction. It has nothing to do with any concerned parties and was simply the result of BTC going from less than $1k to over $19k in the space of one year.

How long you been in? Fuck I bet I've got more money than you. Are you over $250k?

I'm not impressed bro.

>because the people holding it are all 18 and trying to make money this week
what about winklevoss twins, peter theil, tim draper, and other +$100 mil crypto venture capitalists who are holding till 2025? are you just claiming that BTC is going to be in similar bear market as 2014 / 2015 ? if so that is fair. or are you saying BTC is going to be worth nothing in 10 years?

user answer some of my questions vitalik still holds +$300 million in ether
etherscan.io/address/0xab5801a7d398351b8be11c439e05c5b3259aec9b

charlie lee probably sold because (((they))) where after him. also litecoin never did an ICO

>he thinks crypto traders sleep
memer confirmed
by the way I think satoshi is either dead or waiting for btc to become the world reserve currency.

What's your opinion on gold and silver? Do you think this breakout is legit?

When you collect all th bitcorns, Satoshi comes down from heaven and grants you immortality.

It's 7 AM here and I've been up for nearly 35 hours, so I can't be bothered getting into a discussion. But god damn, you're wrong.

BTC will surely retrace at some point in the future, but in no way, shape or form how you describe it; neither cause or timeline.

t. quant on coke

You should treat gold/silver like any cryptocurrency. I personally hold about 10% of my portfolio in precious metals. You can buy gold/silver with bitcoin from jmbullion.com

It's an excellent method of taking profits.

>Nobody is willing to short Bitcoin through the printing and effective QE

QE would be adding more BTC to the 'system' to lower/stabilize its price. BTC is neither a currency nor an asset, so there's no point in pretending it's anything other than a ponzi scam. This should be blatantly apparent to anyone working at a prop shop dealing with derivatives as a profession.

>Bitcoin will rise to 18,440 give +/- 300 at which point it will fall to 1k, possible triple digits.

You are correct that it will revert to a sub-$1K level in the near future, at which point the govt will get involved declaring new regulations to "protect" people...when in reality this was just another bit of social engineering.

>It's important to understand who bought up the price of bitcoin from 10k-20k in such a short period of time. It was the average joe, mechanic investor with his life savings.

Wrong. The bag holder crew, which includes most of the fools on here reading this, jumped in AFTER the price was pumped. It rose due to activity primarily in Asian countries. Joe Blow and the millenial derpers who cannot distinguish between PRICE and VALUE were fooled into buying crypto - all of which is a massive ponzi scam.

The intent of crypto was specifically to suck fiat out of the economy as a way to prop up the dollar. Because all crypto has ZERO value and can never have more than ZERO value, whatever fiat you put in will become your loss. You cannot cash out any significant amount, and no exchange is obligated to honor any crypto:fiat price so they can just shut down and walk away with the money you gave them and you won't be able to do anything about it.

Well ETH had its first dip when the creators said they were selling quite a lot to buy Swiss francs to fund their expenditures for what they said was the next six months. Six months from then is sometime in February; it wouldn't be unreasonable for people to sit out some and wait to see if they sell more, or whatever else they may do. Not sure how much they sold though, you would have to look it up and make a decision on wether it's a big deal or not.

I do believe it is that talk, it's incredibly interesting to hear from them. I'll look at your link.

I don't hold crypto because I would like to keep my money on an exchange to trade on weekends for fun. On the other hand, I have enough money I would invest that I don't want it to be hacked. It's probably a good thing though, way too much stress as is.

I might put some orders at $400. At the moment it's way too far away for me to really think about. I think if 7600 would break you would start seeing blood in the water though. I generally don't see trends continue after they break a .618 retrace; If they do, they normally return to baseline.

>Do you think that Satoshi is more than one person then?

>Any thoughts on why he wouldn't ever sell?

Leonardo Da Vinci was a homosexual pedophile. Not relevant, but I'm reading a biography on him.

>If you look at markets and recessions, they all typically end at 50% and that is what people are comfortable being trapped at max with for whatever reason.

That's because all "recessions" as well as the financial markets are fundamentally controlled and manipulated by the NWO via their central banks. Most of the world fell victim to central banks post WW2, and the main purpose of WW2 was to allow the banksters to consolidate real property by buying it for pennies post-war. All euro and asian countries are under full central bank control. Smaller countries are controlled via the IMF. The USA has been subject to the unconstitutional federal reserve act since 1913. The fed reserve is a private bank operated mostly by foreign entities.

Nothing that has happened in any of the markets since the war of 1812 has been "real" or organic - shitcoins are not excluded from this, and anyone here who actually thinks that central banks would allow direct competition to their money printing monopoly without a sinister agenda are complete morons (which is probably why they're buying crypto).

>Think of Satoshi, he's anonymous with at it's peak around 17 billion worth in Bitcoin.

He, or they, could not sell even if they wanted to because the existing "market cap" for all crypto is a massive fraud. All of the exchanges combined could maybe float a market cap of $1K for BTC. That's about all.

my nibba

I understand the basics of what Tether does, but I'm a retard, why will it cause problems if they print their own coins to stabilize the price with USD?

KEKKK
Nobody is willing to short Bitcoin through the printing and effective QE (quantitative easing) that is tether

Insolvency

>e, or they, could not sell even if they wanted to because the existing "market cap" for all crypto is a massive fraud. All of the exchanges combined could maybe float a market cap of $1K for BTC. That's about all.

a 1k market cap? are you drunk? You must be confusing it with some other metric. It's just price * circulating supply and nothing else. Of course in practice you can't sell all of it without causing the price to fall.

>I don't hold crypto because I would like to keep my money on an exchange to trade on weekends for fun. On the other hand, I have enough money I would invest that I don't want it to be hacked.
i have no clue what you're saying here but you sound like a no coiners

how dense are you
dont confuse all cryptocurrencies with one another
research this more.
if a certain cryptocurrency has a max amount, this amount can NEVER be increased
and this is all verifiable by anyone in the world with an internet connection, every wallets contents (if its not a privacy coin), every transaction, everry smart contract
now compare this to fiat currency. the federal reserve has NEVER been audited. its basically them saying, we have x amount and can print as much as we like

In general I have a feeling like OP is talking from his position where he's in already established market with tons of practices, patterns and so on, and tries to imply them to cryptoland where chaos is much more expressed than on other markets

Quite curious what are you doing here if you think crypto has no value. You are participating in this discussion to open our eyes?

sheesh I remember that - I spend way too much time on this fucking board desu senpaitachi tekodasai

More importantly ... oil. I have a lot in Noble NE. Is that ever gonna break out or what?

>Wrong. The bag holder crew, which includes most of the fools on here reading this, jumped in AFTER the price was pumped. It rose due to activity primarily in Asian countries. Joe Blow and the millenial derpers who cannot distinguish between PRICE and VALUE were fooled into buying crypto - all of which is a massive ponzi scam.
>The intent of crypto was specifically to suck fiat out of the economy as a way to prop up the dollar. Because all crypto has ZERO value and can never have more than ZERO value, whatever fiat you put in will become your loss. You cannot cash out any significant amount, and no exchange is obligated to honor any crypto:fiat price so they can just shut down and walk away with the money you gave them and you won't be able to do anything about it.
aaah fuck gotta sell my crypto now. this user just opened my eyes, crypto has zero value!! for all the 9 years crypto has existed i can't believe everyone hasn't realized this!!

I'm so glad you posted this photo, it's EXACTLY what I was talking about in my previous rants in this thread about what a market that's about to go from sleepy sideways to a pump looks like. I see the exact same pattern every day now it seems and I've been too busy typing to find a pic.

On another note, there are sophisticated investors in the space, I'm not denying that. The typical person I know who tells me to buy Bitcoin though is early 20's and is a type of friend from College who wants to move to Colorado and go to festivals and grow pot though and I think that is a prevalence across much of the US.

Bitcoin could be 100k one day. I do not think it will ever disappear.

Yeah, I think the breakout is about to occur. Lots of small resistance points in the short term... potential bear trap today or start of short term dip. Dunno yet.

Well, the only thing I can say is, good luck. I have always wanted to take an amphetamine and trade for 24hours straight, but I would for sure lose a lot of money.

May as well hold T-bonds if you're not cyclically holding metals to hedge against inflation in the long term. That's just my .02 I don't think you're doing anything necessarily wrong by holding 10% in general.

Op what is your take on the new yorker article from 30 yrs ago w the phoenix and the coin.

>The intent of crypto was specifically to suck fiat out of the economy as a way to prop up the dollar. Because all crypto has ZERO value and can never have more than ZERO value, whatever fiat you put in will become your loss. You cannot cash out any significant amount, and no exchange is obligated to honor any crypto:fiat price so they can just shut down and walk away with the money you gave them and you won't be able to do anything about it.

Ok now you just revealed that you have a

i also used the term eye opening at the same time as your post

HIVEMIND


>The intent of crypto was specifically to suck fiat out of the economy as a way to prop up the dollar.
i didn't even read this part kek. maybe read the whitepaper before you post
bitcoin.org/bitcoin.pdf

>crypto has zero value
in spite of your sarcasm, OP has a point
it currently is on course to have the same amount of worth as fiat currency since its easily manipulated by a few
i would love a coin to exist that cant be price manipulated

satoshi is dead you idiot

More importantly ... oil. I have a lot in Noble NE. Is that ever gonna break out or what?

Sorry meant to post to OP

Satoshi's original addresses are literally gone and nobody knows the private address. There is no way for those to be sold you moron.

>Netflix would require a user base of 1billion just to have that ratio at around 25-35.

Can you tell us when to buy way out of the money puts on Netflix?

>I'm so glad you posted this photo, it's EXACTLY what I was talking about in my previous rants in this thread about what a market that's about to go from sleepy sideways to a pump looks like. I see the exact same pattern every day now it seems and I've been too busy typing to find a pic.
>On another note, there are sophisticated investors in the space, I'm not denying that. The typical person I know who tells me to buy Bitcoin though is early 20's and is a type of friend from College who wants to move to Colorado and go to festivals and grow pot though and I think that is a prevalence across much of the US.
>Bitcoin could be 100k one day. I do not think it will ever disappear.
fair analysis, i am in agreement with you here user. i do think it's impossible to know the typical buyer, but yes i agree the amount of FOMO from $10k --> $20k was a lot of plumbers, dentists, and bus drivers. if it hits 3 digits this year tho i would be hella surprised.

Got paid in 200. in BCH from a gig. Through watching youtube I flipped that into 3k within two weeks. Went horizontal for a few weeks until I decided on getting a social game going. happened upon @welambonow on twitter and turned my 3k into 20k within 3 weeks. You guys DYOR on him and find out the truth for yourself. Learned so much from him and the community he created on his discord.Get in or get a day job!

>i would love a coin to exist that cant be price manipulated
this about what you just said, literally everything can be manipulated. housing market, precious metals, or commodities. everything on this planet is a speculation. golds value is still 80% speculation. no one truly knows how much gold is under fort knox, the supply can be manipulated by government at anytime. crypto is based off of supply and demand like anything else, even if there are tethers propping up the market, there are still individuals at this current moment who are willing to pay $10,000 for 1btc. it's still a far superior alternative to fiat currency. i trust mathematics, computer science, and cryptogaphy as a form of money 1000x more than i trust janet yellen changing the discount round and federal funds rate whenever the fuck she wants.

More importantly ... oil. I have a lot in Noble NE. Is that ever gonna break out or what

Well what are your thoughts on the United States meeting on cryptocurrencies in February?

Any light you can shed on this?

Can you post a link?

Actually it does take money out of circulating economy, saving money in a bank does this as well, temporarily.

I am talking about this because it helps to settle my own thought process on something that I have been working on. Ever have an idea that something should make sense, but you just need a final piece and it will be suddenly clear? It's like that.

I know nothing about them, oil companies may not do as well as price, Oil companies will do better in US because of competitive currency rates making their exports cheaper.

If you want a real weird idea there's this company called Genie Energy, its based out of New Jersey. I'm NOT telling you to buy it because its sort of like a sleeping Giant.

It owns the rights to extract all of the oil reserves in the Golan heights (Isreal border with Syria) that they found a few years ago. They aren't allowed to extract any yet because it's technically not a part of Isreal, but occupied Syrian territory, but the amount of oil there is massive. It's easily enough to fuel all of Israel in the event of a war.

To give you an idea the company has a revenue of 200million at the moment and if they were pumping from this field full force it would be 14billion.

The craziest thing is that Dick Cheney and a few of the rothschilds and Rupert Murdoch are on the advisory board. It sounds like a larping /pol/ conspiracy, but you can google all of this.

I bet there's tons of situations like this for the top of the top. Something like how George Bush, Clintons, and others bought tens of thousands of acres in Brazil under the largest underground freshwater aquifer over a decade ago. I wonder if that's what the recent-ish James bond movie was based on.

I want to find all of these hidden companies and make an ETF out of it for myself one day.

I don't know who's the guy who made this TA but it's impressively accurate, on the other one you can find the price prediction until 2024 and EOY 2017 was about 11K 10K and he was right.

>BTC will drop to triple digits

Nice LARP, I despise BTC but there's no fucking way that's happening.

>Actually it does take money out of circulating economy
For every buyer there is a seller who gets the money, and on top of that miners create new coins that they sell for cash, then pay their bills. It just transfers money between people.

i fully agree
i just see that majority of coins can be manipulated and i would love for a coin that has actual utility and cannot be manipulated

>I am talking about this because it helps to settle my own thought process on something that I have been working on. Ever have an idea that something should make sense, but you just need a final piece and it will be suddenly clear? It's like that.

Well, than it makes sense. I even had an idea to open my own consulting company where I will just let people explain their problem and discuss in a right way which will lead them to find solutions by themselves. Sometimes you just need someone to listen your thoughts and you will come up with exactly what you need.

In general, about crypto I do not think it will go down in a such dramatic way as you told with 18k-1k. Reason is we had huge correction already and lots of people expect the growth, I'm talking now only about mood of the crowd. Besides crowd expectations, remember how much of ICO's and new projects we had previous year. So much hype about roadmaps and so on, much money was invested in these new startups, but then we saw Christmas sell-off + New Year + Asian New Year + Tax declarations, just as always December and January are very retarded months when it's very hard to make any reasonable predictions because everything goes wild. But now, February will go very quickly since it's a short month, and then people will start to put more attention to previous years promising projects since Q2 is getting closer and people want to see how all these project are doing. There will be both huge disappointments and some very big surprises.

Because Tether isn't backed by anything?

How does tether affect other cryptos?

Genie energy is interesting. Sounds political and risky. Plus isn't adding the crapload of oil from the golan heights just going to tank oil prices even more?

> trading sideways

bizlet here, what does this mean?

price barely going up or down