$ (BTC) The Bitcoin Thread - NO SHITCOINERS ALLOWED

JEB! said:
I think I'm gonna offload some at 30 and then most around 50.

Might keep some just incase reality stops making sense, and this shit actually goes to 1 million a pop.
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Hell at this rate, might be sooner than we think. Someone I know had Apple stock in the 70s or 80s when it was dirt cheap. Less than 2 dollars a stock. Sold his 2000 shares in like 82 or something when he thought it was going nowhere to invest elsewhere. Kicks himself in the ass every time apple stock is mentioned lol.
 
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2020Suicide said:
it really is a movie style plot too. a genuis drug dealer collects his bitcoins back in 2015 when it was $200, immedately gets sent to prison for some other bullshit. 6 years later is finally released, finds his old hard drive, realizes he just became a milionaire.

on a sidenote, still to this day the only darknet marketplace to not be shut down by the feds and effectively won was Agora and possibly dream.

I'm still holding strong on the fact that Tether is the key to all this. Ripple is basically expereicining no growth because people think the feds will fuck them in the ass soon. and Tether is fighting off lawsuits as we speak.

For those not in the know, Tether is essentially backing all the rest of the crypto, acting as US dollars. the company behind it swears they have reserve USD to match the crypto being made, but they basically would have to somehow be raising a billion dollars every other week, which not even well known high value companies can do. and because of this blatant fraud people are pretty sure that once the government finally busts open the books, it will effectively destroy the entire market. imagine a 99% value loss.
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I dont understand the Tether FUD. BTC existed long before Tether, how can Tether have any impact on BTC in the long term?
 
Without stablecoins market liquidity would take a massive hit, it's a very important tool for arbitrage and basically circumventing the entire traditional banking system (which is very bad at dealing with money).
 
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CrunkLord420 said:
Without stablecoins market liquidity would take a massive hit, it's a very important tool for arbitrage and basically circumventing the entire traditional banking system (which is very bad at dealing with money).
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What's your thoughts on the market this month/next month/next year, Crunk?

Also, I know this is like babby's 1st chart (it's sort of a 'novelty' chart, all my babby daily trading doodles are on another one), but can someone please tell me why this chart is wrong? Maybe it gets disrupted by big dumps at significant figures? It's just... that can't be right. Can it?
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Particle Bored said:
What's your thoughts on the market this month/next month/next year, Crunk?

Also, I know this is like babby's 1st chart (it's sort of a 'novelty' chart, all my babby daily trading doodles are on another one), but can someone please tell me why this chart is wrong? Maybe it gets disrupted by big dumps at significant figures? It's just... that can't be right. Can it?
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It's very colorful. Personally I just like to draw triangles and watch moving averages, fibs are like mild suggestions for price levels. I don't do anything fancy. It's hard to say anything about your chart since it's over 8 years on weekly candles. It doesn't seem very actionable and implies on the trend lines you should just hodl until $500k per bitcoin unless it breaks down through $7k, at which point why even do TA? We're in blue sky territory and engaged in highly volatile price discovery, we're trending up until it comes down in brutal and quick fashion.

The trend is your friend until the end of the trend at which point it punches you in the face and leaves you bleeding in a dark alley. Go with it, but have a plan to stop out. I'm really not doing much TA at this point. I just try to trade consolidation phases and buy when it re-enters trend continuation.
 
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CrunkLord420 said:
It's very colorful. Personally I just like to draw triangles and watch moving averages, fibs are like mild suggestions for price levels. I don't do anything fancy. It's hard to say anything about your chart since it's over 8 years on weekly candles. It doesn't seem very actionable and implies on the trend lines you should just hodl until $500k per bitcoin unless it breaks down through $7k, at which point why even do TA? We're in blue sky territory and engaged in highly volatile price discovery, we're trending up until it comes down in brutal and quick fashion.

The trend is your friend until the end of the trend at which point it punches you in the face and leaves you bleeding in a dark alley. Go with it, but have a plan to stop out. I'm really not doing much TA at this point. I just try to trade consolidation phases and buy when it re-enters trend continuation.
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Yeah thats just my macro BitStamp trend/fib chart. Its just nutty because it says we could "realistically" be looking at 300k next December, and the 2022 crash will be to "only" 52k.

Wasnt referring to that chart specifically, just wondering thoughts on general state of BTC market over next couple months, if it was anything more interesting than "goes up so hodl" (because duh).

Im all about doodling triangles and lines in my Coinbase chart on 5min-1hr candles. Thats what I short-term trade off of.
 
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Noob question: are there any advantages to one exchange over another for day trading versus a longer time horizon? No need to spoonfeed me a rec just trying to figure out what variables I should be looking at besides premiums and sketchy history.
 
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MakeItRain said:
Noob question: are there any advantages to one exchange over another for day trading versus a longer time horizon? No need to spoonfeed me a rec just trying to figure out what variables I should be looking at besides premiums and sketchy history.
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I don't know if day traders have figured out a way to avoid this but exchanges are notorious for suddenly delaying transactions when the price gets volatile, usually for their own benefit. I would not do day trading at all, but definitely not if I had to rely on some unreliable exchange.
 
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MakeItRain said:
Noob question: are there any advantages to one exchange over another for day trading versus a longer time horizon? No need to spoonfeed me a rec just trying to figure out what variables I should be looking at besides premiums and sketchy history.
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I havent used enough exchanges to make comparisons, but I think Binance and Kraken are of the more popular. I havent used Binance since it was split into separate exchanges for US customers, and never used Kraken. I use Kucoin, and move gains off-exchange. Kucoin allows stop-market orders, which can be good to avoid having your order missed during fast price movement (eg for stop-loss in crashes), but your can achieve pretty much the same thing by setting wide stop-limit orders. I do all my charting on the TradingView Coinbase chart, and just account for the price difference between Kucoin and Coinbase (I've seen the difference range from $5 to $100 difference, but its usually about $30 below CoinBase). Kucoin also offers 10x leverage if you want to dance with that devil. Kucoin fees are 0.7-0.9%.

All my fiat purchases are performed through CoinBase and the USDCoin method I detailed in the "how to buy Bitcoin" thread to reduce premium to a minimum; I dont think Kucoin offers direct fiat purchases, but I havent checked in a while. There's no fee to transfer BTC off CoinBase.

I have learned some hard lessons over the past couple years and refined to relatively conservative methods/strategies, and have done pretty well the last few months, but youd honestly need to be pretty stupid and reckless to not do well in the last few months' market.

I also only trade BTC/USD(T), since IMO no matter how close you follow an alt, on a short-term scale any swing in BTC will throw any logical alt analysis out of whack (and BTC can already make some whacky movements on its own), and theres no backing org for BTC to get sued or fail a mainnet test or miss a goal or whatever (but also potentially fewer surprise announcements/listings for big pumps).

Disclaimer: not a professional or subsistence trader by any means, just someone that believes BTC is still in its relative infancy and still has lots of potential and wants to increase his bag without constant cash infusion. Buy and hold is clearly the safest option.
 
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MakeItRain said:
Noob question: are there any advantages to one exchange over another for day trading versus a longer time horizon? No need to spoonfeed me a rec just trying to figure out what variables I should be looking at besides premiums and sketchy history.
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Trading fees for day-trading, specifically "maker" vs "taker" fees. The most day-trading friendly exchanges will actually have zero to positive maker fees meaning you basically get money (very small) for putting orders in the books for other traders to fill. Most of your trades should be makers, basically all your entries and profit taking orders.

For longer horizons you want to look at withdrawal fees, interest rates, and of course security.
 
damn, I was off by 24 hours on my 30k prediction

Nigger Alien said:
Someone can explain how literally TO THE MOON in two days?
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billions of traditional money are invested in this now, this is nothing like 2017. if you thought regular FOMO was bad just wait until institutions get FOMO. I wouldn't be surprised if we hit 50k by the end of the month
 
$33,300. Dammit I cant swing trade this shit! [ETA: lol nevermind]
cantankerous jackalope said:
billions of traditional money are invested in this now, this is nothing like 2017. if you thought regular FOMO was bad just wait until institutions get FOMO. I wouldn't be surprised if we hit 50k by the end of the month
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I'd love to be in the meeting Monday where the analyst that proposed BTC in March but got rejected brings today's chart to management.
 
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