IT BEGINS !!

Discussion in 'Digital Currencies' started by SilverSale, Dec 22, 2019.

  1. SilverSale

    SilverSale Well-Known Member Silver Stacker

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    Very confused.

    Was it questionable timing because I picked the exact bottom? You would prefer me to call the bottom at the top? :cool:
     
  2. jultorsk

    jultorsk Well-Known Member Silver Stacker

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  3. heartastack

    heartastack Active Member Silver Stacker

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    If this dip is a fake-out I expect further explosive gains but I'm still wanting to see BTC above 13k.. Otherwise this little bull ran out of steam before it got interesting.
     
  4. Silver260

    Silver260 Well-Known Member Silver Stacker

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    I've been watching BTC for nearly 10 years, and while I personally don't believe it's currently in a major bull phase, as in parabolic, I have noticed an interesting new correlation.

    For the first time, since I've been observing BTC, it seems to be actually responding to external geopolitical events??, not just the usual crypto gossip that effect it.

    Thoughts?
     
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  5. heartastack

    heartastack Active Member Silver Stacker

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    Its behaving like the old school silver shills and pumpers would have led us to believe silver market should behave (I.e. yes I agree)
     
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  6. SilverDJ

    SilverDJ Well-Known Member

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    In effect, yes it is, because the mainstream markets and players largely have had to reluctantly accept that Bitcoin is a real thing and it's not just a fad.
     
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  7. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Soon China, Korea and Japan will likely be cashless and all digital.

    Fears in the Asian crypto circles is that when the local currency is digital, current cryptos will lose the mystic and will be sidelined like junk bonds.

    People don't want to touch cash without gloves
     
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  8. Silver260

    Silver260 Well-Known Member Silver Stacker

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    I'd view this from the different perspective.

    Having a National currency go digital, may legitimise the concept of cryptocurrency to the broader populous. And as a National currency will be relatively stable, maybe people will start looking at the speculative cryptos from a different perspective??
     
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  9. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    ‘it’s a fifty fifty.... however, current market cap of junk bonds is like 1000 times bitcoin market cap
     
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  10. Silver260

    Silver260 Well-Known Member Silver Stacker

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    10 Mil Bitcoin!, I'd be happy with that.

    At least John McAfee wouldn't have to eat his old fella...... Lol

    Is that still a thing? , honestly haven't been bothered paying attention...I avoid crypto news, like the plague.
     
  11. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    ‘not too sure about that, my 1000x figure is based on millions and millions of different kinds junk bonds

    so even if Btc gets bigger, it would mean million and millions of different coins, rather than btc increasing 1000x
     
  12. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Whilst there may be countless issuers of junk bonds they’re still limited to the main currencies traded, so we’re probably looking at maybe 10 currencies at the most in the main with the USD making up probably 40%.

    The upshot of that is that millions of different cryptos won’t be required, just millions of different crypto customers making millions of transactions..
     
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  13. slavaja

    slavaja Well-Known Member Silver Stacker

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    Nah his not doing it anymore. He said btc is trash and btc is like the Ford model t.
     
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  14. SilverSale

    SilverSale Well-Known Member Silver Stacker

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    We had a nice run up to $10.5K+ BTC, near enough to my short term $11K target. Sweet little pull-back now...

    Anyone else want to call the next move? :)
     
    Last edited: Feb 23, 2020
  15. heartastack

    heartastack Active Member Silver Stacker

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    I’m still kinda bearish but could go either way. I’m personally going to ride gold stocks bull
     
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  16. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    If the stock market starts to melt, only gold will be left standing.
     
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  17. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Good point. I have to wash my hands everytime I handle cash. Haven't got to the stage of washing cash yet. Luckily, Singapore cash is made of plastics, except the $50-$10000 notes - those can't be washed.

    Now, what stock will benefit from this move to electronic payment? Visa, Master?
     
  18. pennys

    pennys Member

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    A bit late. China is about 80% digital e.g. wechat. Japan fell out quite spectacularly with bitcoin through 2017.

    Crypto had its chance. It was too confused about whether it wanted to be a deflationary store like gold or inflationary medium like cash. The people that were lobbying legislators on securities and taxes moved on years ago.
    Since in my own experience shorting bitcoin was far more profitable than being long I fully expect gold and bitcoin to be the same price soon enough.

    It's been a bog standard bear market for over 2 years.
     
  19. heartastack

    heartastack Active Member Silver Stacker

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    The only cash I’ve used in the last 6 months is for the coke machine at work. And I’m over 30 so it’s certainly lost to the next gen
     
  20. heartastack

    heartastack Active Member Silver Stacker

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    Losing billions off the coinmarketcap per hour. Doubt this is going to be considered a valid flight to safety this round.
     
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