Bitcoin price discussion and analysis

[greggles]

Mania.

The mainstream media won't shut up about Bitcoin. It's become an obsession. I think people are piling into it because they're afraid that they'll miss out on the best chance for easy money this year. This will only inflate the bubble. Of course, maybe I'm wrong and John McAfee is correct. Time will tell, but it's certainly the most interesting financial phenomenon of recent times.

 

[galumay]

"...Only an idiot would short Bitcoin." mmmm...that sort of hysterical nonsense is enough to make me want to short it straight away!!

Its got all the hallmarks of a nuclear time-bomb in the making. Every single box is getting ticked for catastrophe.

 

[notting]

Fairly good discussion.
https://www.cnbc.com/video/2017/12/12/bitcoin-battle-rages-on.html

I maintain it is the greatest short I have ever seen.

Price now - $17610 USD
$23147 AUD

 

[watsons]

I invest into Bitcoin and what they are missing is that there are companies accepting Bitcoin but many also have pulled away e.g. Steam.

 

[greggles]

Bitcoin.com co-founder has sold all of his Bitcoins and calls the digital currency "extremely high risk".

http://www.smh.com.au/business/mark...s-bitcoin-com-co-founder-20171218-p4yxty.html

 

[notting]

You'd imagine he probably knows what he is talking about

The insane price surge noted by Bitcoins cofounder and CTO, Emil Oldenburg, has caused him to be extremely skeptical of bitcoin’s future.
“I would say an investment in bitcoin is right now the riskiest investment you can make. There’s an extremely high risk,”

 

[sptrawler]

I don't know if this means anything, but the co founder of bitcoins, has sold out completely.

http://www.forexlive.com/news/!/co-founder-of-bitcoincom-sells-all-his-bitcoins-says-20171218

https://finance.nine.com.au/2017/12/19/13/11/bitcoin-dot-com-cofounder-sells-all-of-his-bitcoin

 

[DB008]

I don't know if this means anything, but the co founder of bitcoins, has sold out completely.

I think it has to be said, clearly, that he was the co-founder of "bitcoin.com"

Nothing to do with Bitcoin itself.

And what did he sell/buy to? Bitcoin Cash.

Now, lets understand what this all means. Simple terms :

• Roger Ver made millions of $$$ by getting into Bitcoin in the early days
• His was one of the first people to accept Bitcoin as online payments
• He had a falling out with Bitcoin development team
• Has now switched over to the Bitcoin Cash camp
• Tries to discredit Bitcoin any way possible
• Roger Ver owns the Bitcoin.com domain name
• Roger Ver probably pressured Oldeburg to leave Bitcoin and join him at Bitcoin Cash

As I said in another earlier post, there is a propaganda war taking place between Bitcoin and Bitcoin Cash. Once Bitcoin's Lightning Network protocol roles out for Bitcoin (very close), Bitcoin Cash will drop and Bitcoin will take off (my theory of course). Looks like the Bitcoin Cash camp is clutching at straws and trying at any means possible to stab Bitcoin before Lightning gets implemented.

 

[notting]

there is a propaganda war taking place between Bitcoin and Bitcoin Cash.

What about these guys? more propaganda I suppose -


Warren Buffet described it as a mirage and Jamie Dimon called it a fraud.

CEO of cryptocurrency play up 1,000% in 2 days to $3.1 billion: 'This market cap is not justified'

• Longfin's CEO and Chairman Venkat Meenavalli said on CNBC's "Fast Money" that the "market cap is not justified."
• Longfin shares are up more than 1,000 percent to a market value above $3 billion after announcing Friday it was buying Ziddu.com, a company focused on the blockchain technology behind bitcoin with zero revenue.
• Filings for the deal reveal a confusing relationship between Meenavalli and Ziddu.

I really like the mirage analogy. I came up with exactly the same way of describing it before I read what Buffet had said. (That's one thing we have in common )

Why is it a mirage? Because nothing is backing it, it's value is literally a thought bubble. When everyone decides it's not worth anything that's exactly what it will be worth. It's not like a business that will keep going, or gold that at least has some physical representation that cannot be created out of thin air, or a currency that represents a countries wealth and prospects.

 

[Wysiwyg]

How soon is the morning news "Bitcoin crashes 50% overnight". Really, what type of people take on such risk? I can't see Neville No Idea throwing their yearly savings at it.

 

[DB008]

FYI

BCash manipulation on GDAX/Coinbase

​

 

[sptrawler]

Unless the Governments of the World are going to underpin it, it has to have some basis for its value, otherwise it is underpinned by a brain fart.
No doubt the bitcoin idea, is preceding the cashless society, which the Governments want.
But the system isn't geared up for it yet, when it is, I'm sure the bitcoin model will be adopted or a derivative of it.
Actually I bet the Government is wrapped, that this is unfolding, it is a softener and free pre-roll out advertising, for cashless systems. Hmmm
Just my opinion.

 

[tech/a]

Don’t think they are rapt

Unless the currency allows tracing —— it can’t be traced.
Dealers/cartels/weapons dealers/off shore errr investors
They are all rapt.
Ripple can be tracked. Ethereum Litecoin Bitcoin etc can’t.

But it’s here to stay
The perfect solution I doubt has been invented YET

In the meantime ——-

 

[Kryzz]

FYI

BCash manipulation on GDAX/Coinbase

What are your thoughts on Dash and Monero being added to Coinbase DB008? Lot's of rumours going around at the moment, could attribute to the recent push in Ripple too

 

[DB008]

Kryzz, l don't have crystal ball - if l did....

Not sure if you can predict what coin will be added to Coinbase. I'd imagine if they announced it, that coin would rise like crazy, even before the launch.

I think that Coinbase is attracting a lot of heat at the moment because of their BCash launch.
Read the second line....
https://www.wsj.com/articles/coinba...ruptly-halting-bitcoin-cash-launch-1513766034

Like l said before, total insider trading. However, as crypto trading isn't regulated - how can they get charged with anything...??

Its the friggin' wild west at the moment.

Maybe the best way for Coinbase to go about this is to add something like 50 - 100 coins at once, not 1. Spread it out.

Monero and Dash both have had huge run ups in the last few months. Could go either way

 

[greggles]

While Bitcoin did plunge from US$19,500 to around US$12,000 in a day, it has since bounced back to almost US$15,000 in the last 12 hours.



John McAfee claims the plunge is because of Christmas and we will see a huge post-Christmas boom.

 

[DaveDaGr8]

And it just dived back to 12800 1 minute ago.

 

[greggles]

And it just dived back to 12800 1 minute ago.

Coindesk is showing US$14,000 at the moment. Where are you getting your price information from?

 

[skyQuake]

B

Coindesk is showing US$14,000 at the moment. Where are you getting your price information from?

Bitfinex always a lower than the other exchanges during busts and higher during booms

https://bitcoinwisdom.com/markets/bitfinex/btcusd

 

[DaveDaGr8]

https://cryptowat.ch/bitfinex/btcusd/1m

But yeah there is discrepancy between the exchanges.