Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26181. (Read 26711027 times)

I exclude Ripple and Stellar from the alt list though (for various obvious reasons).

Pump & dump is a relative term, NXT first traded at 0.000001 ...

EDIT: I mean that after about 1 year it is still here with a very strong community and it has gone more than x50 in value

Only an idiot holds a margin position over night.

 "I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful." ~ Warren Buffet

" "Leverage is the only way a smart guy can go broke." ~ Warren Buffet

They guy is old school and doesn't understand bitcoin technology or Austrian economics, but he does understand investing.

No, I guess I have just gotten greedy. Also, it cost me what would have been an 8% profit just now. Not huge, but it is hard enough to beat the house. I am just super frustrated about it. Thanks for the sentiment. That really is what I should go back to doing.

Alts are quick pump&dumps, you can make a lot of profit on those but you gotta strictly daytrade them (quick in, quick out), and only the new ones.

Never hold any altcoin indefinitely. So "diversifying your portfolio in alts" is a very bad idea.

So technically that would be fiat --> BTC --> random shitcoin --> back to BTC.

I don't know a single high profile Bitcoin enthusiast with an IQ below 130. I would say most are three standards of deviation above the mean. Now I may not quite be a genius myself, but it's only logical to do what smart people do if you want to succeed at least as much as them.  This is how technological revolutions begin. The Winklevi were in Facebook before there was  Facebook. They got screwed over by Zuckerberg, but I think they learned a lesson from it. They are not lazy people. They are Olympic-level athletes.
They are not unsuccessful people. They may come from money, but the vast majority of their wealth was self-made.

Of course their are insiders, but it's still a far less rigged market than stocks, bonds or even real estate. Especially centrally-controlled fiat. The fluctuations are greater, but that just means the time scale is ramped up. Everything you do is risky and that includes doing nothing. The way smart people do it is to diversify, exercise discipline, and hope you make more good bets than bad.

Cheaters don't keep their money because they didn't earn it and so they don't value it as much as those who had to sweat and work hard. They waste wealth and that just means that honest people can buy it from them at a discount. Life is far from fair, but everyone reading this at least has an internet connection so you should probably be happy life is unfair. You are likely a beneficiary of that unfairness if you look at the big picture.

Yeah Finex is having some issues lately, I suggest you avoid margin trading and play only on Exchange for now, or does buying/selling also have problems? 

Now up from 75000 to 200000 LTC shorts in ~48h. Highest amount ever in the history of Bitfinex @ one of the lowest LTC/USD prices in the last months, lolololol



This might end bad for some people.

I have a lot of people wanting me to help them enter in the Bitcoin/Cryptos (like a broker).

When they see the alts they all want to buy them too, so I advise them to diversify 2-5% of their capital in them.

This is fresh fiat that would go into BTC if it wasn't for the alts.*

I bet my clients are not the only ones doing so.

On the other hand *they have to buy BTC first in order to buy alts, though this is changing fast.

Opinions?

There is an element of Austrian economics at play. There is no point is having lots of coins if you don't spend them eventually. If the hoarders never spend (or lose their private keys), then everyone else's coins become more valuable. If they do spend them, the the coins do eventually get distributed. I may not have my wealth properly diversified, but It's a no-brainer to always hold at least somecoins. The risk/reward ratio makes Bitcoin a far better than even money bet. Through quantitative easing (money printing), fractional reserve lending and artificially low interest rates, fiat is a poor bet by comparison. It has the advantage of being far more liquid, but coins can be converted to fiat at any time pretty quickly. 

This.

You know... that s--- is so rigged. Those scumbags at Finex have no problem putting my orders through when they go against me, but when they are going to go in my favor they f--- me. Done with them. Probably done with all of this s---. Fuck!! And yea, I should go post this somewhere else, but that's bull----, too because people ought to know when the fix is on. That's what a speculation board should be for. This f---ing bulls---.

Regarding TA:

It's simple:


Some people don't know how TA works or what it's supposed to do.
The same folks try to apply what they think TA is but they lose money.
Their conclusion: TA doesn't work.


The End.

Bitfinex blocking shorts, again. The last time this happened we had the crash off the dead cat bounce to $525-$530 in the middle of the downturn a few hours later. Connected? Maybe. My hunch is that they get a suspicious order or a big short and delay it to control the impact. At the same time, it leaves people in a position to get screwed. And yes, I reserved coins through total return swaps before trying to place the order and had tons of margin available for a fairly small order. Be careful. I know this is FUD. Frankly, I don't give a s---.

It has to be noted that persistent hoarding by these smart people greatly increases the value of everybody else's coins. The market cap of the unhoarded stock grows larger when the hoarded stock grows larger.

If the bitcoin market would be poker, then it would be a variation where the dealer can play, and be the only one, who has the ability to look at the cards of others.
I can't see how skill has a lot to do with determining the winner in this game..

T/A has limited value, but that doesn't mean it's worthless. Over time, the coins do get concentrated in the hands of a few smart people. These people use T/A, so it becomes a self-fulfilling prophesy. Luck plays a role, but so does skill. Professional poker is also a zero-sum game, but there are guys who can make a living at it.  The more bets you make, the more success is skill and less random chance because tiny percentage advantages compound over time.

TA can work in a transparent enough market, that isn't heavily concentrated. But, the bitcoin market is far from being transparent and the ownership is probably also heavily concentrated.
Not to mention the lack of laws, that would at least slow down the insider manipulation done by those, who own the major exchanges.
Because the lack of transparency and the heavy grip that the exchanges have over the market, bitcoin is more of an gamble then an investment. Doing TA with bitcoin is mostly to justify ones gambling addiction, or some could even use it to hide the fact, that they are actually connected with the insiders.
With bitcoin, the only ones who know the future, are the ones who have enough power to create the future. The market is too immature to offer any stability for serious TA. TA that you see here, is mostly just lines drawn at a direction of own personal hopes.

These are the times that try a Bitcoiner's soul. Every time this happens--on average once a year--I get amazed at how painful it is.  This is the kind of market that separates the men from the boys. I've been monkey-hammered in trade after trade, so I forget that I'm still up over %10,000 in fiat terms from my original investment. Bad things seem to happen all at once, and my personal life and net worth get crushed simultaneously and every time I have to slowly claw my way back. Many of you are in a similar situation. Take heart. We are making history.  If this trip throws your life out of balance, then take a break. we'll still be here when you get back.  I was up to two cartons of cigarettes a week and letting my life go to shit. That means I care too much to make objective decisions.

I'm still bullish long term, but I just don't what's going to happen next. I just know that I'm either going to make a lot of money or I'm going to learn something. I can live with that.

So your saying that all the bulls are castrated?

.. When the bulls blow all there money it's time to hibernate.
I'll come back to invest when the bears feel ready to fatten up

Well, the bulls here don't seem to actually buy enough to make much of a dent in the charts. They're mostly hodling. They are bullish about some whales hopefully driving the price up, but that's about the extent of it.