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Ren's old crypto thread || we know how to buy this stuff now (1 Viewer)

Resistance levels are psychological levels which usually have an established history in price action or are sometimes are just nice round numbers.  It is usually a level on the low end which trigger bulls to buy or on the highend were bulls profit take and bears short.   $10,000 is just a five digit number, but it is a trigger level where people will profit take and/or short.  There will be a lot of trading around $10,000.  It is not a level like say $8800, which will probably be blown through in a matter of a single day.   

 
Bitcoin hit $8862 on Binance.   Will probably take a rest for a bit, but it looks to be going hyperbolic price growth.  This bull run may last a couple years, and a six figures level is not out if the question.

 
jon_mx said:
Bitcoin busts above $8400.  Now have over $35k in my account a couple weeks later.   
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EOS pops 18% to $7.45.  Bitcoin keeps going, up over $8800.....another $1K raise in my account.   :coffee:

 
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jon_mx said:
Johnny Rock said:
Isn’t there a bitcoin thread?
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There is a search function too.   Are you of the opinion that Bitcoin is not crypto?   :confused: 
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If you’d followed this thread since inception you’d know that https://forums.footballguys.com/forum/topic/750236-bitcoin-explain-to-me-how-to-buy-these-things/?tab=comments#comment-19540036 is the bitcoin thread and this thread is for essentially all other crypto.

That aside, surely neither thread is improved by you posting your gains/losses every time the needle moves $1,000.

 
Johnny Rock said:
If you’d followed this thread since inception you’d know that https://forums.footballguys.com/forum/topic/750236-bitcoin-explain-to-me-how-to-buy-these-things/?tab=comments#comment-19540036 is the bitcoin thread and this thread is for essentially all other crypto.

That aside, surely neither thread is improved by you posting your gains/losses every time the needle moves $1,000.
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Funny, the OP on the very first page of this thread talked about Bitcoin numerous times....this very page starts out with a reference to #fakeotoshi, a Bitcoin reference. OK,  Mr. Thread Police, what thread do you post in when discussing both Bitcoin and other cryptos?  Should we start a different thread for that, because heaven knows that is such a different topic.   

Now I am not posting about my gains to brag, but to bring attention to what the market is doing.  I really think this is a once in a generational opportunity for people to still see 20-100x gains in a matter of a couple years.  If you don't find that interesting or you do not see the potential of Bitcoin, awesome.  Ignore the thread.  

 
eoMMan said:
I see it's at $7700 or so now.  How much did this lower your account?
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I bailed everything out around $8300 and am back in around $7600.  I am sitting around $33K, but have a bit more coins.  If it starts another leg down, I will bail again.  Still think the bear market is behind us, just a pullback from the rapid growth.  

 
Bitcoin moves over $9500 and keeps pushing it's yearly high, higher.  Very few of the other Altcoins seems to be following suit.  Binance is one of the exceptions.  

 
jon_mx said:
Bitcoin moves over $9500 and keeps pushing it's yearly high, higher.  Very few of the other Altcoins seems to be following suit.  Binance is one of the exceptions.  
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Usually from what i have seen in the past few years, BTC makes its run, then once it settles down the Alts follow suit. 

 
It sure blew by $10k quick.   I thought it would be a struggle, but it seemed the bears tried to dig in at $9000 instead.  

 
I already had an Uphold account setup a few years ago.  Is this still a safe platform to use when purchasing/withdrawing ?

 
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Big League Chew said:
I already had an Uphold account setup a few years ago.  Is this still a safe platform to use when purchasing/withdrawing ?
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I use Uphold for BAT and ETH. Love the triple authentication. 

Make a transaction every 90 days to avoid fees. I haven’t seen it enforced because I rarely go over that threshold but just be aware. 

 
Rhythmdoctor said:
I do think we hit both price targets but not as soon as you’re predicting. BTC will not go straight up. 
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I think the road to 20K will be longer, but the parabolic spike after 20K will be similar to the 18 day run from 10K to 20K the last go around.

right around the time of the halving ...

 
Most altcoins are now following suit and are partially catching up to BTC.  NEO has a really nice 25 percent spike.  Most are up 6-10 percent in the last 24 hours.  

 
Rhythmdoctor said:
I do think we hit both price targets but not as soon as you’re predicting. BTC will not go straight up. 
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It probably is overly optimistic.  There will be some bumps in the road, but once this goes full FOMO mode the price action will be like none we have ever seen.  I would not bet against an obscene run up.  

 
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JerseyToughGuys said:
I think the road to 20K will be longer, but the parabolic spike after 20K will be similar to the 18 day run from 10K to 20K the last go around.

right around the time of the halving ...
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Agreed.  That’s how all of the BTC bull runs go.... the first 75% measured in time is kind of a slow steady grind up then the last 25% of time is parabolic!!

 
ren hoek said:
Bitcoin still dysfunctional trash.  Fees already astronomical.  LN will achieve roughly zero% adoption.   The price will fall when people realize this.  
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Have you checked out the github for BTH? Development is slowly dying. I’d be willing to bet BTH dies a quiet death long before BTC.

have you checked out the “Lightening” app?

 
@ren hoekwhat recent development or development in the pipeline has you most excited about BCH?

or is it more that you think BTC is somehow going to “fail”?

 
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ren hoek said:
BTH?

Nope
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Nope what? You have no idea what what’s actually being done? i.e., How many BCH wallets are being rolled out? How many payment apps can I use? How can I easily custody it?

one could argue the BCH fork was the biggest scam of the early crypto days.

or

on could argue it was a noble yet failed experiment.

Ver will eventually admit his mistake or simply disappear imo

 
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I do love the fact that anyone new who goes to bitcoin.com will 1). Be so confused they never buy crypto: or 2). Buy BTC.

Meanwhile it’s a Ver shill site for BTH. So stubbornly dumb.

 
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JerseyToughGuys said:
@ren hoekwhat recent development or development in the pipeline has you most excited about BCH?

or is it more that you think BTC is somehow going to “fail”?
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Nothing in particular; I still think it has a strong community and strong outlook.  I think it's underappreciated and underbought.  But most of my money is in gold/silver, and I'm just holding several of these long term.  I hold some bch, eth, bat, xlm, link.  

By design, bitcoin's onchain shortcomings make it useless as a currency.  As the price gets higher, it becomes too costly to use as money.  As transaction volume escalates, it becomes too high friction to use as a blockchain platform.  This is the most purely basic application of cryptocurrency possible- the one thing that gave flight to bitcoin in the first place.  There is a ceiling on its efficacy that runs inversely proportional to the price.  That the BTC development braintrust stands to make a profit off Bitcoin with their own sidechains by ensuring the base layer runs like dog#### should have raised flags a long time ago.  

It may hit $100K someday (we will all profit tremendously if it does), but on a long enough timeline I think people will realize its absolute best case scenario is as a settlement layer for rich people, and that there are much better projects out there.  It has no real value beyond name recognition and speculation.  I believe in the future of this stuff.  We have yet to see the real compelling uses for it imo (smart cities, a better financial system, automated logistics).  But it's coming.  

 
JerseyToughGuys said:
Nope what? You have no idea what what’s actually being done? i.e., How many BTH wallets are being rolled out? How many payment apps can I use? How can I easily custody it?

one could argue the BTH fork was the biggest scam of the early crypto days.

or

on could argue it was a noble yet failed experiment.

Ver will eventually admit his mistake or simply disappear imo
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I'm just not really following what "BTH" is.  I see you meant BCH by it somehow, but don't understand why.  

 
ren hoek said:
Nothing in particular; I still think it has a strong community and strong outlook.  I think it's underappreciated and underbought.  But most of my money is in gold/silver, and I'm just holding several of these long term.  I hold some bch, eth, bat, xlm, link.  

By design, bitcoin's onchain shortcomings make it useless as a currency.  As the price gets higher, it becomes too costly to use as money.  As transaction volume escalates, it becomes too high friction to use as a blockchain platform.  This is the most purely basic application of cryptocurrency possible- the one thing that gave flight to bitcoin in the first place.  There is a ceiling on its efficacy that runs inversely proportional to the price.  That the BTC development braintrust stands to make a profit off Bitcoin with their own sidechains by ensuring the base layer runs like dog#### should have raised flags a long time ago.  

It may hit $100K someday (we will all profit tremendously if it does), but on a long enough timeline I think people will realize its absolute best case scenario is as a settlement layer for rich people, and that there are much better projects out there.  It has no real value beyond name recognition and speculation.  I believe in the future of this stuff.  We have yet to see the real compelling uses for it imo (smart cities, a better financial system, automated logistics).  But it's coming.  
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I agree BTC is never going to be used for everyday purchases.

 
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