Topic: Lose all your capital fast, with MatTheCat and his TA 101A! - page 6. (Read 85765 times)

Current shitcoin market:

I already told you probably 10 times, first time I messed with gold was going all-in on gold at $420.  As the price of bitcoin turned parabolic on the macro chart, I began to sell some bitcoin for metals, which any sane person would do.  I already posted a picture of my gold receipt in this thread ($1149 spot).  That's as good of a price you're going to get for gold.  I know the metals market just as well as BTC.  When they were naked shorting silver in the west, China wouldn't budge from $17.80ish in the east with a $2 spread.  The western Jew bankers read that signal and decided to not try and push it lower.  Western Jews also decided they don't want a higher spread than $20 in gold either.  The bottom on gold and silver should already be in.



LOL, still continuing your fantasy thinking I lost money on Finex?  I was up 800% in 2016 and withdrew from Finex immediately when the bull market ended (which was before they goxed).  The only thing that infuriates me is that I have no viable exchange to margin trade on now.  Bitmex and Finex are both useless and the fact that Finex is still the market maker for price makes me consider any current price of bitcoin invalid.

lol you just described yourself

So that explains the sudden saltiness towards Bitcoin......u converted from Bitcoin to precious metals way too soon. Precious metals are in the same market phase as Bitcoin was in 2015. Break out may take some time yet, and if either ever sees the sort of gains that we have witnessed in some cryptos recently, then we will be in the midst of a hyperinflationary crash (in which case, the ONLY wealth you will want to own will be real wealth. Not USD, not interest bearing bonds, and not stocks, and certainly not fkn worthless vapourous crypto).

So PMs continue to consolidate post a 5 year bear market, whilst BTC and other choice cryptos are going through the roof.......a guy I know, an early BTC adopter at that, reckons he is going to sell half his BTC at $2K and buy gold instead. Whether he gets his target or not, who knows.

I took a big plunge into gold and silver way back in 2010. Literally seen the value of my investment double, and then come right the fuck back down again and then spend a bit of time underwater. Still underwater on silver. This experience greatly coloured my attitude towards Bitcoin, in that I refused to be a retard 'believer' (I swallowed all the Silver Stacker Kool Aid back in the day). Bitcoin has served it's purpose in that it both resulted in me learning how to read markets properly and also learning the hard way about the nature of counter party risk, and on that note, going by the way you  talk about how corrupt the Bitcoin sphere is, I reckon you definitely must have got burned on Finex. Leaves a very bad taste in the mouth doesn't it? A taste so bad, that you just can't bear to play this game any longer?

So, I have 2016 gold and silver Britannias and just got some 2017 silver ones when spot was below $17.  The new security imprint thing on the 2017 silver Britannias appear to have the same quality control issues that Canadian coins do now.  They have weird spotting at least on the ones I got, while the 2016 ones didn't seem to have this problem.  Seems like American silver eagles are the most consistent in quality of stuff I've bought.  My advice for silver is either just stick with eagles or buy 10 oz or 1 kilo bullion bars.

Funny how a lot of people project their own self loathing out into the world and onto strawmen, and then completely reveal everything that they hate about themselves, via a series of accusations aimed at the strawman, isn't it?


Fact is, for the sharp trader, there are far greater profits to be made in crypto and never mind Bitcoin, what about DASH!? Holy phuck! But 99.9% of all crypto, will one day go to zero, and any rational person will understand that.

One thing about watching Bitcoin so closely, is that it has been a great lesson in how powerful hands can totally boss a market around, this way or that. Regardless to say, the same sort of thing will be going on in the precious metal's markets. I suspect that the price of gold *should* be way way higher than $2000. The Dow is currently around $21K, with stock markets around the world all at ATHs, despite the real economy having ground to a halt and all of these stocks in fundemental P/E terms being way overvalued.

They say that keeping gold price suppressed is vital to protecting the Petrodollar as the global reserve, but the major enemies of the Petrodollar hegemony, Russia and China are stock piling gold and are reckoned to be lying about how much they have (i.e. pretending they have less than they actually do, as the geo-political war games are played out.

I suspect under the Trump presidency, things are going to come to a head. If he gets his way, then the USA, and by default, the entire world, is headed for Big Inflation. Trump is going to build up the military, push for wars, old fashioned Republican style (as opposed to using/creating proxies such as ISIS to achieve geo-political goals as we seen under the Obama admin), and crucially, Trump wants to do a shit ton of infrastructure spending, which means all those QE created USD, will finally start to hit Main Street and we will finally see the BIG inflation that everyone predicted QE would lead to, but which we have yet to witness.

Trump has been quite open about low/negative interest rates being a great way to ramp the US economy and have the US creditors pay for it. The Chinese are well aware of this which is one reason why they are rapidly building up their reserves. China is in a bind. Due to their pegging the CNY to the USD in order to protect their export competitiveness, they are biggest holder of US debt in the world. Debt whose value implodes just as soon as Big Inflation hits. What they gonna do? They can't dump US bonds; that would be the same as all the Chinese miners dumping all their BTC all at once, suicide for both them and Bitcoin. But at the same time, they cannot tolerate the US wiping out the values of their US government bonds through Big Inflation. The fact they are rapidly amassing gold is very telling, as the on asset that will do very well through Big Inflation and/or a collapse in confidence in the USD, is gold.

The writing is on the wall, although it will likely take a while, with a deflationary 'head fake' also being highly likely in the rum up to golds pre-ordained big break out.......Bitcoin, if it still exists when all this shit happens, will likely catch a bid through any Big Inflation event, but the thing with Bitcoin, is that it can be turned off........But the PBOC would never order the Chinese miners to just shut down if they thought that Bitcoin was getting out of hand and undermining thier efforts to control their own currency, would they!?

The USD swaps volume is just a fraction off record highs for Margin Longs on BFX. Record = $33 Million.
The BTC swaps volume is around 11.5K BTC. It's ATH was 35K on 27th April 2015, with BTC at $215. These shorts were gradually squeezed out of their positions. By the time Bitcoin topped out in July 2015, BTC swaps were at around 9K BTC.

No question bitcoin at 4 TPS and probably forking into multiple different chains this year will take over the world and defeat gold and silver!

Bitcoin. No question mark. Don't turn into another mat, nobody wants to be that.

The dollar cost average of the bitcoins I hold are $0 and I still get nervous holding the things.  Don't get nervous holding my silver at all because I know it's going to be a homerun at some point - the only question is how long.  The price of gold should already be at $2200 even within their too low priced manipulated system because it's price is highly correlated to US debt amongst other factors.  That run up in gold would bring silver to at least a 30;1 ratio of around $75.  What other asset exists where you're virtually guaranteed to increase your wealth by at least 4.3x with an eventual market correction, or far higher gains if the bottom drops out of fiat currenices/sovereign debt.

Narcissists always think they have good reason for hating others. It's nothing but empty rationalization, especially when you don't give even one good example of what that might be. You are an empty liar.

No.

If I take Schadenfruede at another's misfortune, then I have good reason.

If for example, I come on here in 2014, and say that Bitcoin is going to tank, and I get absolutely pilloried by people such as yourself, then of course it is sweet when I watch you all take a kicking from the market.

What was your average buy in cost through 2015 when Bitcoin was down in $200 range? $800!? And you think you are 'smart'? You think you are good at 'making money in Bitcoin?'

You are anything but smart Ibian. You are the very definition of a retard holder, and yes, I shall gloat at you when the day comes when it all goes up in smoke and enjoy every minute of it, providing that you are actually on here and not dangling from a rope somewhere that is. YOU, will deserve it.

Right. Everyone has something they are good at, or at least less bad than other things.

You like to be right, you like when others are hurt, you like doing drugs and you are by all appearances no good at making money with bitcoin. Go from there.

No.

The very core of my problem, is that I have been trying to do something that I am not 'meant' to be doing.

Every organism, every person, is born with a certain blueprint that the organism is designed to follow. If the person/organism follows the blueprint, they will generally be rewarded in life and if they go against that blueprint, then fortune will also go against them.

If some guy whose blueprint in life is to settle down with some woman and have a family, but whose social circumstances push him towards trying to be a 10 women a week Lothario type, then he is going to fail spectacularly, no matter how good looking he is, or how 'charming he can be or how much he knows how to manipulate the female psychology. Likewise, if some guys blueprint is to be a womanising Casanova, yet social circumstances dictate that he should settle down with just one woman, start a family, attend church every Sunday, then same thing. Good fortune will go against him and he will suffer so long as he continues to betray his blueprint.

My infatuation with trading, was an addiction, and thus detrimental to my overall character and an impediment towards me growing into what my blueprint states that I should be.

With that said, I don't think it harms much to have a handle on how markets work and it is certainly reassuring to me when predictions based on intuition come to fruition. My Bitcoin @ $1500 call wasn't based on graphs or charts, but based on intuition, whilst Bitcoin was still at $560 back in Sept 2016. Not that I haven't repeated this often enough in this thread, but the insight came to me on a very strong Mescaline hit. Same Mescaline hit where I realised that gold was the ultimate representation of wealth in the physical world which we inhabit. Always was and always will be, regardless of what the temporary smoke n mirrors of price action may attempt to depict, and any temporary mis-evaluation that may occur as a result of it.

Gold will stand the test of time. Bitcoin will be revealed as the vapour that it is and probably sooner rather than later, and everyone will wake up scratching their heads wondering whatever the fuck had gotten into them to have gotten so 'reingelegt' to begin with.

This, right here, is the very core of your problem.

Being right all the time just reaffirms bias. Eventually you start looking for it even when it isn't there. Personally, I like to be proven wrong. That's my end goal in any discussion, because being wrong about something is an opportunity to learn and grow and do better next time, instead of repeating the same old tired mistakes.

You will never be more than you are as long as you cling to the need and desire to be Right all the time.

The price is always correct. That's the first thing you need to understand.

Yep. And he has been told the same thing over and over for years. Doesn't matter, he needs to be in the victim role.

But it's fine. We live in an intelligence based economy and we all get what we deserve accordingly. And mat is simply not smart enough to make money here.

Do you think Mat conjures all these voodoo charts to practice a buy and hold strategy?  Also, buy and hold was a decent strategy at $200-$400, but the price has gone up so much since then that there's a lot of people sitting on large profit positions now so buy and hold is a bit more dangerous than before.  The chart on a macro level is parabolic after all.  Who the hell buys and holds at the top of a parabolic chart? lol.  It could still be a viable way to profit, just not usually a wise decision in general.  

My theory on bitcoin right now is that since bitcoin doesn't actually act as a store of value, once transaction fees get to around $1-2 (it's already close to that now), then the high transaction fees begin to force bitcoin into somewhat of a settlement layer and Bitcoin will probably start to hit a wall.  To act as a settlement layer you have to act as a store of value, and gold and silver do that far better than bitcoin does, so it doesn't seem like a viable strategy for bitcoin to attempt to compete in that manner.  

Bitcoin has to compete on actual utility, you know, like when Silk Road operated a business on top of it.  The throughput has to increase enough where other businesses are able to operate on it to give it any type of fundamentals.  It can't just be some type of scheme like "buy bitcoin because the price will always go up".  You have to draw fundamentals from somewhere.  Scalability actually does matter.

I just buy and hold , been working great since 2014 . Dont give up Mat.

You are correct, and not even just technically!

I miss the old days. This new crap is so tiresome compared to when people just used to argue about up or down.