Bitcoin's and the future of online banking - Page 29

On September 08 2017 06:06 Trav94 wrote: BTC is making a left shoulder, head, right shoulder pattern. This next candle, and the weekly candle, is going to be fairly indicative of where price goes in the near future

Problem is the neckline is ~$3600, so selling at any point between $4400 and $3600 is prematurely guessing it's actually a H&S. I guess could set a limit-sell if $3600 support is broken, but I'm not sure how far it actually falls after that, and afterwards it would be hard to tell if a rebound is real or a continuation of a bearish trend, so you could easily sell at 3599 and then rebuy at 3601.

From my experience, BTC/USD is the one pair where TA doesn't seem to work too well over extended periods because it is inherently bullish due to anti-inflation and ever increasing adoption.


BTC is the honey badger and it doesn't give a shit about our TA.


But honestly, if it does hit $3599, I could see it dropping all the way back to $2250 just based on the swing rule. Or it could instantly bounce off a higher support like $3200 because honey badger don't give a fuck. Regardless, it seems that even during downtrends, BTC retains value better than alts so it's probably prudent to at least swap out almost all alts for BTC if it starts looking bad.

One more point: BTC is still very far above it's 200EMA (~$2550) on the daily chart. I only mention this because while I generally use the 4H chart, BTC dipped below the 200EMA on the 4H last week yet recovered quickly, so it's not a super reliable indicator. It all feels like a guessing game: it's possible it drops back to $2950 and is still bullish or it falls below $4k and is bearish depending how you look at it. My lean is to not play the guessing games and just read the charts of alts pegged to BTC and decide when to dump those for BTC and just ride out the BTC/USD swings.

the honeybadjar going to $500,000?

looking at the chart i'm sure theres a mcaffee eating his own dick in national television there somewhere in the future.

I have some bitcoin on facebook. I think it was coindesk or sth that allowed transferring btc over fb? Clueless as to what went on there, is there a way to check the balance?

If you are mostly buying and something goes up doesn't mean theres some black magic to the method, its just math. If you bought once and never sold you beat the variance of trading.

On September 08 2017 05:56 Daut wrote: Show nested quote + On September 08 2017 05:23 Baalim wrote:   On September 08 2017 04:03 Daut wrote:   On September 08 2017 01:57 spets1 wrote:   On September 06 2017 07:09 lucky331 wrote: ask spets and let him rant about core and blockstream. lololol He is not trying to destroy bitcoin, he is trying to save it. You have to be very careful where you get your news from - Bitcoin.org and reddit.com/r/bitcoin is a heavily censored forums and you will get only one side of the story. Bitcoin has been hijacked by Bankers through Blockstream a for profit corporation which has many notable sponsors from AXA, heavily linked to Bilderburg group and other banking institutions. Obviously banks and for profit corporation interests do not align with the free and decentralised nature of bitcoin. In short blockstream employs most of current Bitcoin Core Developers So Blockstream hijacked the development of bitcoin by getting rid of many original developers and putting the rest on their payrol. If you want more information use other forums such as reddit.com/r/btc and bitcoin.com Long version: https://www.reddit.com/r/btc/comments...ock_size_limit_debate_history_lesson/ https://medium.com/@johnblocke/a-brie...f-censorship-in-r-bitcoin-c85a290fe43 https://medium.com/@johnblocke/r-bitcoin-censorship-revisited-58d5b1bdcd64 LOLOLOLOOL care to refute him? https://medium.com/@WhalePanda/roger-...us-to-bitcoin-antichrist-69fc7a17c622

So let me see if i got this straight, the two problems with bigger blocks is that it makes it potentially way easier to hack unless is properly tested and because it is "lazy" in terms that instead of optimizing its code it just gets bigger?

Also what do you think are Rogers motivation? Is he a manipulative asshole with a goal or just a stubborn idiot?

BTW isnt pattern recognition in graphs bullshit? I thought wallstreet proved that decades ago

I dont give a shit about Roger Ver. He has no control of bitcoin. Still Daut has not addressed my claims


1. Blockstream is for profit organization therefore in principle it goes against what bitcoin is (free, decentralized)
2. Blockstream is answerrable to its investors whom are AXA - part of bilderberg group. And other big investment organizations (status Quo)
3. Blockstream core controls most of the Bitcoin Core developers by paying them a salary (Blockstream quote: So we[Blockstream] developed this into our contracts including a clause where if we ever ask our developers to do anything which they feel goes against the principles of Bitcoin or if we try to push something that is to our advantage then they have the right to resign.” )
4. Number of day zero developers that have made bitcoin what it is today have been "fired" by blockstream or quit because they disagree with what BSCore are doing to bitcoin (going against its principles, crippling the network so taht they can introduce "their" level 2 solution and make a bank from fees)
5. Raising blocksize limit has proven trackrecord (8 years) of perfectly working whilst segwit has never worked before and a completely untested solution
6. The anti-core people are not against level 2 solutions they are against the one taht is being pushed down our throats by "Blockstream Core"
7. bitcoin.org and reddit/r/bitcoin are heavily censored forums


All Daut is saying is that
1. Roger is a "bad guy"
2. Miners are bad guys

Who gives a fuck about roger ver he is just one man. He does not control bitcoin development.
The chinese miners are also unable to control bitcoin - Russia is starting up large mining farms, Japan is starting up large mining farms, USA is starting up large mining farms. Mining is getting more decentralized. Now is the time when mining is the most decentralized it has ever been.

I wonder how would the crypto currency market respond to a massive financial crisis, I'm guessing centralized ones like Ripple will probably cease to exist, but what about ethereum, bitcoin etc

I'll ask the same question to you spets, why blockstream and its devs refuse to go big block and push segwit instead ?

On September 08 2017 21:22 Baalim wrote: BTW isnt pattern recognition in graphs bullshit? I thought wallstreet proved that decades ago

it is, if you intend to make predictions. but its a good guide to spot trends.

On September 08 2017 21:28 spets1 wrote: I dont give a shit about Roger Ver. He has no control of bitcoin. Still Daut has not addressed my claims 1. Blockstream is for profit organization therefore in principle it goes against what bitcoin is (free, decentralized) 2. Blockstream is answerrable to its investors whom are AXA - part of bilderberg group. And other big investment organizations (status Quo) 3. Blockstream core controls most of the Bitcoin Core developers by paying them a salary (Blockstream quote: So we[Blockstream] developed this into our contracts including a clause where if we ever ask our developers to do anything which they feel goes against the principles of Bitcoin or if we try to push something that is to our advantage then they have the right to resign.” ) 4. Number of day zero developers that have made bitcoin what it is today have been "fired" by blockstream or quit because they disagree with what BSCore are doing to bitcoin (going against its principles, crippling the network so taht they can introduce "their" level 2 solution and make a bank from fees) 5. Raising blocksize limit has proven trackrecord (8 years) of perfectly working whilst segwit has never worked before and a completely untested solution 6. The anti-core people are not against level 2 solutions they are against the one taht is being pushed down our throats by "Blockstream Core" 7. bitcoin.org and reddit/r/bitcoin are heavily censored forums All Daut is saying is that 1. Roger is a "bad guy" 2. Miners are bad guys Who gives a fuck about roger ver he is just one man. He does not control bitcoin development. The chinese miners are also unable to control bitcoin - Russia is starting up large mining farms, Japan is starting up large mining farms, USA is starting up large mining farms. Mining is getting more decentralized. Now is the time when mining is the most decentralized it has ever been.

you saying blockstream controls development? no they dont. you're free to use other bitcoin implementations or make your own. it's an open source project.

mircea popescu and his boys are still running nodes of an old modified version of the qt software ffs.

it's all propaganda by roger ver. bitcoin will be fine.

On September 09 2017 03:43 lucky331 wrote: Show nested quote + On September 08 2017 21:22 Baalim wrote: BTW isnt pattern recognition in graphs bullshit? I thought wallstreet proved that decades ago it is, if you intend to make predictions. but its a good guide to spot trends.

This doesnt make any sense, if you spot "trends" it means you can predict to a certain degree

On September 09 2017 05:03 Baalim wrote: Show nested quote + On September 09 2017 03:43 lucky331 wrote:   On September 08 2017 21:22 Baalim wrote: BTW isnt pattern recognition in graphs bullshit? I thought wallstreet proved that decades ago it is, if you intend to make predictions. but its a good guide to spot trends. This doesnt make any sense, if you spot "trends" it means you can predict to a certain degree

Pattern recognition is not bullshit in any way. Technical Analysis is the GTO of trading.

On September 09 2017 05:03 Baalim wrote: Show nested quote + On September 09 2017 03:43 lucky331 wrote:   On September 08 2017 21:22 Baalim wrote: BTW isnt pattern recognition in graphs bullshit? I thought wallstreet proved that decades ago it is, if you intend to make predictions. but its a good guide to spot trends. This doesnt make any sense, if you spot "trends" it means you can predict to a certain degree

you can make estimates. and base your decisions depending on the price, size of your br and volatility. but that doesn't mean you can and have to predict the market.

who knows what could happen tomorrow. nk could start ww 3 for all we know, making all markets crash.

On September 09 2017 05:49 Trav94 wrote: Show nested quote + On September 09 2017 05:03 Baalim wrote:   On September 09 2017 03:43 lucky331 wrote:   On September 08 2017 21:22 Baalim wrote: BTW isnt pattern recognition in graphs bullshit? I thought wallstreet proved that decades ago it is, if you intend to make predictions. but its a good guide to spot trends. This doesnt make any sense, if you spot "trends" it means you can predict to a certain degree Pattern recognition is not bullshit in any way. Technical Analysis is the GTO of trading.

this, and it's consistently being used

>anyone using technical patterns and indicators they don't truly understand

I only mine and flip what I mine. When liquid options with .01 spreads are introduced, then I'll dump money into cryptos. I'm sure all of you have done historical backtesting to find the likelihood of average daily moves and how to properly use things like the RSI or BBs with said findings...

Market participant activity is much more important than trying to figure out what one candle is trying to say to the new candle.

I always thought TA was bullshit before I learned how to apply it, and in general think many aspects of it are mostly noise with no signal, but so many people follow it that it becomes a self-fulfilling prophecy, and there are some strong logical reasons why some aspects of it work (support/resistance lines for instance)

Not enough big players use TA for it to become a self-fulfilling prophecy. Retail liquidity is only a drop in the bucket. They care more about what other institutional players are doing. (ie: if the fed is going to raise rates or if a company is acting a little funny cause they got hacked and the board sold their stock but haven't said a word about it...) Then again, we're in the crypto market, where a small number of whales have more control on price than the school of fish. Even checking the order book is more promising than trying to identify a cup and handle pattern or trying to discern if the third divergence of an RSI is a signal or not.

If you've made money using TA in the crypto market, more power to you. I just hope you are looking at Chinese legislation and then eventually US regulation. Wouldn't even doubt that both these countries end up making their own national coin.

On September 09 2017 01:42 Baalim wrote: I'll ask the same question to you spets, why blockstream and its devs refuse to go big block and push segwit instead ?

It is sort of mentioned in 4. of my previous post:

"What BSCore are doing to bitcoin (going against its principles, crippling the network so taht they can introduce "their" level 2 solution and make a bank from fees)"

What i am saying is that Blockstream Core are trying to keep blocksize small so that bitcoin will work really slow (max 3.5 tx per second). They will then implement a layer 2 solution which will allow them to collect fees instead of miners. - Basically they aretificially slowing the bitcoin so they can come in on a white horse with layer 2 scaling solution and collect the fees themselves instead. BOOM the investors are happy and everyone on Blockstream gets paid. And AXA/Banking cartel get to set the fees they want. They already have a proposal.

Blockstream already have a proposal on their layer 2 solution, this is copied from website about product they want to push called liquid:

" significantly lower capital requirements for market participants by reducing transaction latency and improving interoperability."
Read between the lines:they will charge fees on this Liquid. And they will make the fees lower than they are now on artifically crippled bitcoin network.
"Liquid will look familiar to any user with experience using bitcoin, as Liquid is an extension of the Bitcoin codebase"
So they will stick it into their BScore client and will have massive market advantage because everyone has been using core client already.

core is crippling the network? how? by producing superior code and improving it?