Topic: rpietila Wall Observer - the Quality TA Thread ;) - page 3. (Read 907231 times)

Clif High Bitcoin update - 88888 CNY or $13k this time next year. Moon shot 2019. Long term 1 bitcoin approx equal to 1000 ounces Gold so $1mil +

https://youtu.be/SXFJUAf9afA?t=31m40s

Moving away from BTC for a moment; anyone know why DASH is suddenly pumping?

It was a defining moment in bitcoin. I always hated the ugly all time graph made by the fake bot in the MtGox days, now bitcoin has proven that it can rise from the ashes like the phoenix, this is a great boost in confidence, literally everyone that bought in the MtGox peak can no longer complain that they lost money, this is HUGE.

Yesterday Bitcoin made its ATH, finally definitively and in all counts busting the one from 2013.

Not that I cared, I have other things to do but decided to mention this one nevertheless... 

Order of magnitude 1 *10^4 ($10000) implies a value between $5000 and $49999. Last growth spurt was to order of mangitude 10^3. I wrote about this in 2013: https://bitcointalksearch.org/topic/the-fifth-growth-spurt-383674

Hang on.. Master nodes are currently on a fire sale.  I'd hold out, because I don't think the best deals are to be had quite yet.

40 000 usd is kinda big sum of money but definetely not impossible to own in any western country.

The important question is "how MANY different people not colluding together own masternodes out of the total amount of current masternodes?"

40 000 usd is kinda big sum of money but definetely not impossible to own in any western country. That being said, in order to increase the number of masternodes the price cannot rise too much from here. On the other hand, does Dark coin need more Masternodes or is ~ 4000 masternodes good enough for the long haul..

Bitcoin is also centralized mainly towards the Chinese farmers - exchanges mainly operate with the "free coins" in the weak hands of speculators.

There are several glaring issues with the concept of master nodes.

1. Currently you need ~$40,000 to operate one just on the 1000 DASH you are required to have locked up. Plus expense on hardware/software/electricity. The barrier to entry is way high. Imagine if it cost $40,000+ to run a bitcoin node or a monero node.

2. Current masternode owners with a large stake (or even exchanges that have dash) will over time gain more master nodes purely from keeping them in a "proof of ping" mode. Nothing else required.

Centralization comes to mind.

This fellow has been fairly on target with analysis going back a few years:

www.vinnylingham.com/preventing-another-bitcoin-bubble-98dee44e2c7c#.48mlwk52f

He is projecting $2k by year's end.

Even ignoring the price talk, I have appreciated his logic/insights before. For example, there was a great article from him about how there was a lot of unrecognized volume in BTC OTC trading. This site aggregates some places you won't find on CoinMarketCap:

www.coinhills.com/market/exchange/

For example, LakeBTC had about 8.5k BTC trading volume today. They are one of many "OTC" sites out there.

Actually, I am a little surprised at the ETF hype as there are already 2 ways people can buy into BTC in a "regular" retirement/investment account, ignoring "Bitcoin IRA" which I think is a little weird (aside from the fact that Ed Moy, Former US Mint Director, is their chief strategist). We have both GBTC (Barry Silbert's Bitcoin Investment Trust) as well as Coin XBT (www.xbtprovider.com). The latter is interesting as it trades on the NASDAQ Nordic exchange, has market making (they profit off the spread versus declining BTC "backing" per share like GBTC) and trades in both SEK and EUR based instruments (worth 0.005 and 0.05 of a BTC, respectively).

Coin XBT is especially easy to buy as it is available on global platforms like Interactive Brokers. Pretty much anyone in the developed world can buy into it. And it has good volume. On February 23, for example, it had almost $1B SEK in trading volume (~ $100M USD). The EUR instrument also had decent volume. Oh, and CoinMarketCap or any of the other sites don't include this data at all Don't remember what the CMC volume for BTC was that day, but I am recalling $400M, so that is 25% in volume that most people are not aware of!

Does anyone think Bitcoin can hit $10000 during this run?

Does anyone think Bitcoin can hit $10000 during this run?

Not quite, $9588 is the current target top.

Since base low beginning of the run ~$200-225 took 12 months to double to $400-450, 6 months to double again to ~$800-900.

If the run continues on the current exponentially 'doubling in half-the-time' basic metric, we're looking at ~$1600-1800 by end of March (3 months to doubling). 6 weeks after that $3200-3600 for mid-May and 3 weeks after that $6400-7200 early June and final blow off by July ~$9588 ... almost exactly 1 year after the halving in supply that precipitated the run to a new equilibrium pricing (wherever that maybe after the inevitable correction, $3200?).

Actually interesting time it will be when the parity with gold bullion will be reached, to me this is more a milestone than the ATH on Gox.

As a pure speculation and investment, isn't it a good thing that the masternodes (large holders) have common interest with the smaller ones? It is not in their interest to lose wealth, rather increase it. It is very good boat for a small fish to be (assuming the small fish has been able to buy low before the hype).
I doubt Darkcoin will be 0.01 after this hype, the new bottom might be somewhere around 0.015-0.025 (depending on how high it will go during the current pump).
I have been following also the number of masternodes recently and behold, they are indeed rising in numbers. I recall just a few days ago there were exactly 4000 masternodes, now they are 4104 so 104 000 more coins have been hoarded from the weak hands.

Does anyone think Bitcoin can hit $10000 during this run?