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Bitcoin - The Future Internet?

Discussion in 'Investing' started by heyimsnuffles, Dec 22, 2016.

  1. heyimsnuffles

    heyimsnuffles Active Member

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    bitfinex allows shorting....it is stupid risky and I only ATTEMPT when there is like 5 daily candles green in a row and a blow off with negative divergence.
     
  2. heyimsnuffles

    heyimsnuffles Active Member

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    Indeed about all the china. Bitcoin is here to stay. Inning number 3 of 9 in my opinion.

    disruption.JPG
     
  3. heyimsnuffles

    heyimsnuffles Active Member

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  4. hitman

    hitman Active Member

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    help me understand what is it that you are trying say. Are you giving an insight, just jotting down someone else out look on a situation or are you saying I don't understand Bitcoin trading/investment as a stream of revenue.
     
  5. heyimsnuffles

    heyimsnuffles Active Member

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    I believe that Bitcoin is here to stay in this world. I have been a bitcoin advocate since after the first runup (actually third) into the 1000's when I really started to research it. Once it pulled back and held 200-250 there was ALOT of buyer Support there. Every single bad event has been bought up and now we took out the old highs.

    I posted the photo above because I thought it was an interesting thought process of how "change" and new inventions are accepted. Of course the mass is not going to believe in it or want it at first, but once it hits the tipping point and everyone understands that will be no return IMO.
     
  6. hitman

    hitman Active Member

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    Here is the situation with Bitcoin going forward in 2017 and beyond. With capital fleeing China and the yuan becoming weaker and weaker guess what happens if the government decides they want to clamp down on capital fleeing. Chinese and the world will wake up one morning to the news hey folks Bitcoin is now illegal and all Bitcoin holders are money launders/ging then it becomes worthless overnight.

    So the question is will any government support an underground tender which drains money out off their country, if you believe they will power to you and good luck "investing in Bitcoin" moving forward.

    Pronouncing your self an advocate is great on your part… it would be interesting to know what percentage of your account is allocated to Bitcoin and would your account or your mental state be able to handle the draw down.

    I'm not trying to find out your account worth…. but merely giving food for thought to other members out there who peek in to have a look.
     
  7. heyimsnuffles

    heyimsnuffles Active Member

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    I have been long since under 300. I bought the Hearn Panic when he said it was the end of Bitcoin. I bought the Bitfinex hack. My last buy was yesterday when I bought more on the dip (which I am down on that buy but my average is below 500)

    I am just saying that according to price everyone who has been negative about Bitcoin has been wrong. You cannot argue with that.
     
  8. heyimsnuffles

    heyimsnuffles Active Member

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    I will say this. It needs to hold Right here right now.
     
  9. internationalstocks

    internationalstocks Active Member

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    Do you use Bitfinex? Any good? Margin?
     
  10. heyimsnuffles

    heyimsnuffles Active Member

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    i actually purchase through coinbase and use bitstamp, simplefx. I have used bitfinex before was not really a fan.
     
  11. hitman

    hitman Active Member

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    Like I said good luck "BTCC will (suspend loans borrowing services) from 12 January 2017." Effectively, loan-based trading services were no longer available using Bitcoin. The liquidity for Bitcoin that came from China will begin to decline. Bitcoin is not being shut down, but there is concern that the capital flight must be stopped. Bitcoin has been the escape method for capital fleeing China. China's major Bitcoin exchange halted or otherwise updated their Bitcoin trading services.
     
  12. heyimsnuffles

    heyimsnuffles Active Member

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    Fact of the matter is bitcoin has only continued to increase in value. America is leading price now and it will go back to highs and then china will blow it through the roof again seen it Multiple times.

    Seriously, what happens when it is back at highs and everyone who just bailed on this "china news" wants back in? No one should have been buying at 1100 and 1200 anyways. Things don't go straight up, not even Bitcoin. (I was actually short from 1200 down to under 1000. The short is not worth it anymore considering this could rip back to highs in a few weeks.
     
  13. David Smith

    David Smith Member

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    Blockchain technology is quickly expanding beyond bitcoin. While many proponents of bitcoin see the blockchain as no more than competition for existing payment methods or gold, I believe blockchain technology is the harbinger of things the world has never before seen. I would just like to say that although this all seems new, the first successful blockchain (Bitcoin) was launched in 2009. That’s only one year after Google created Android (seems like a long time ago now, huh?). Bitcoin now has a market cap of nearly ten billion dollars. This is not something you want to ignore. Technologies like this tend to creep up on the world and then explode into the mainstream seemingly overnight.The future of bitcoin and the blockchain remains unclear. What is clear is that 2016 is not the year they went mainstream.
     
    heyimsnuffles likes this.
  14. heyimsnuffles

    heyimsnuffles Active Member

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    Not even close to "Mainstream". This is inning number 3 again I reiterate. Nice Post.
     
  15. fouclycm

    fouclycm New Member

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    Bitcoin is the youngest currency in the world, I think it's a great deal in the market, it's very good.
     
  16. hitman

    hitman Active Member

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    if you are long Bitcoin get ready for a serious blood nose.
     
  17. heyimsnuffles

    heyimsnuffles Active Member

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    LOL why do you say that? besides just an off the wall statement?
     
  18. hitman

    hitman Active Member

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    I was hoping to have an open discussion with you in regards to what I'm seeing and you might have missed with the intention of getting your feed back so you can point out what I might have missed but since you choose to LOL and assume that I'm justing throwing an "off the wall statement" then there is nothing to discuss. GL
     
  19. heyimsnuffles

    heyimsnuffles Active Member

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    I would love to have an open discussion. I am a very cordial person. Trading anything is built around opinions and ideas that are generated by others. I always listen to others opinions on things whether I agree or disagree. I'm a jokester here, I take NOTHING personal and like to have fun.

    I assumed you through an "off the wall statement" with the fact that you said "if you are long, get ready for a serious bloody nose"., not exactly backing it up with anything, that was it. Just having fun.
     
  20. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    A couple days ago I saw the McClellan guy trying to draw up a similarity between Bitcoin and the Internet bubble (https://www.mcoscillator.com/learning_center/weekly_chart/bitcoin_is_a_bubble_weve_seen_before/). It's an interesting idea, and you've got to do some squinting and turning your head to see it as he compresses the modern time frame (10 years of Internet bubble = 4 years of Bitcoin, he says), but there's that.

    [​IMG]

    It seems to me that Bitcoin moves similarly to gold, and gold itself is up to 1220 now which has been a recent top
    [​IMG]
     

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