Bitcoin's and the future of online banking - Page 30

On September 09 2017 22:04 Barley wrote: 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.

This makes way more sense to me, and everybody makes money using TA or any method in such a bull market it has to be compared with holding and we are obviously more than familiar with the tricks variance will play to our perception of skilll.

If patterns were a self-fulfilling prophecy because many ppl trade based on them then there isnt really any money to be made because its a race to see who does it first

On September 10 2017 00:22 spets1 wrote: Show nested quote + 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.

I see, thanks for the explanation, with a layer 2 solution you mean like using the lightning network with a fee?

You guys can choose to invest based on fundamentals/news/sentiment like every other square if you wish, but I'm telling you, I thought it was pure bullshit, still think some/most parts of it are bullshit (think many formations and candle reading are nonsense), but support/resistance is real, riding overall market trends are real, and momentum trading in general in the crypto market is more profitable than simply holding. And regardless, it's much better to have a set of consistent rules for how you trade than to trade with random gut feelings and intuitions and be second guessing everything.

These markets aren't highly liquid, are pretty irrational, and not regulated, so the rampant insider trading based on news that comes out far later shifts the market before public hears it, and the only way for a non-insider to know is to properly read the tape and decide if something is a buy. I can't say much about other markets as I don't trade in those, but good technical analysts seem to outperform holding in those as well (without survivorship bias).

Suggest reading "Profiting in Bull and Bear Markets" by Stan Weinstein. It was written 30 years ago, but he has a nice, not overly complicated system that cuts through all the noise and most of the crap the TA twitter touts spew and gives actionable advice on how to invest.

On September 10 2017 01:18 Baalim wrote: Show nested quote + On September 10 2017 00:22 spets1 wrote:   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. I see, thanks for the explanation, with a layer 2 solution you mean like using the lightning network with a fee?

Yes, although i think they will use something else instead of lightning. They already have whitepaper for thing called Liquid.

https://blockstream.com/liquid/
If you read between the lines they say that Liquid will offer scaling solution but with a fee. A fee that is lower of the onchain transaction that they themselves are trying to artificially raise by keeping the blocks small.

On September 10 2017 01:41 Daut wrote: You guys can choose to invest based on fundamentals/news/sentiment like every other square if you wish, but I'm telling you, I thought it was pure bullshit, still think some/most parts of it are bullshit (think many formations and candle reading are nonsense), but support/resistance is real, riding overall market trends are real, and momentum trading in general in the crypto market is more profitable than simply holding. And regardless, it's much better to have a set of consistent rules for how you trade than to trade with random gut feelings and intuitions and be second guessing everything. These markets aren't highly liquid, are pretty irrational, and not regulated, so the rampant insider trading based on news that comes out far later shifts the market before public hears it, and the only way for a non-insider to know is to properly read the tape and decide if something is a buy. I can't say much about other markets as I don't trade in those, but good technical analysts seem to outperform holding in those as well (without survivorship bias). Suggest reading "Profiting in Bull and Bear Markets" by Stan Weinstein. It was written 30 years ago, but he has a nice, not overly complicated system that cuts through all the noise and most of the crap the TA twitter touts spew and gives actionable advice on how to invest.

Going with market trends, to me, is going with market participant activity. When the Fed stops signalling lowering interest rates, or when the institutions see they can't feasibly keep lowering it, the trend will start to change. This stuff isn't second guessing but reading the actual policies which fundamentally affect real people. Like I said, though, going through the indies, usually the vol ones, and deconstructing its history and being able to alter it will grant you a much better understanding of the indie, and then use it with things like how hawkish or dovish the Fed is going to be with things like interest rates, or a certain unemployment level, and how this correlates to certain industries having their profits naturally go up since mortgages and other lending venues will become more expensive. Then again, I'd much rather just dump my money on cheap straddles/strangles and barely look at a chart for more than a few seconds and keep my eye on the VIX.

It's like hurricane models, you have to find the right model for the right hurricane, or make it up yourself.

FYI, University of Nicasio in Cyprus is offering a free MOOC in digital currency: instructors are Antonis Polemitis and Andreas Antonopolous.

Link: https://courses.dcurr.unic.ac.cy/

mooc?

massive open online course.

Just out of curiosity for you guys who follow cryptos closely, what is your thesis about the most likely approximate value for BTC in five years? What would you put the odds of it going to zero or close to zero? I realize you don't necessarily have to have an opinion on this in order to invest in it now, but I'm sure some do.

On September 10 2017 02:11 spets1 wrote: Show nested quote + On September 10 2017 01:18 Baalim wrote:   On September 10 2017 00:22 spets1 wrote:   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. I see, thanks for the explanation, with a layer 2 solution you mean like using the lightning network with a fee? Yes, although i think they will use something else instead of lightning. They already have whitepaper for thing called Liquid. https://blockstream.com/liquid/ If you read between the lines they say that Liquid will offer scaling solution but with a fee. A fee that is lower of the onchain transaction that they themselves are trying to artificially raise by keeping the blocks small.

wow. ok... whatever you say...

On September 10 2017 04:49 bigredhoss wrote: Just out of curiosity for you guys who follow cryptos closely, what is your thesis about the most likely approximate value for BTC in five years? What would you put the odds of it going to zero or close to zero? I realize you don't necessarily have to have an opinion on this in order to invest in it now, but I'm sure some do.

I think BTC will stick around, but national coins are going to be introduced, so BTC will be forgotten about. (plus, it was only meant to be a small beta, anways)

Family member is interested in investing $2000 in bitcoin

How would she go about doing this? (just pointing me to a site where you guys think is a good one to buy would be super helpful)

Do you guys think it's wise at this point? Really clueless tbh

On September 10 2017 17:13 devon06atX wrote: Family member is interested in investing $2000 in bitcoin How would she go about doing this? (just pointing me to a site where you guys think is a good one to buy would be super helpful) Do you guys think it's wise at this point? Really clueless tbh

I don't know much about BTC but you need more info for anyone to possibly answer this. Like what % of her portfolio is 2k, what is her investment horizon, etc. Why does she want to buy BTC if she doesn't know anything about it or even how to buy it?

dang those lower wicks are just showing the support this thing has. probably going to move up again soon and ill still be talking about how i didnt buy when it was at 4k lmao. congrats to the peeps who killed here, good call.

On September 10 2017 17:13 devon06atX wrote: Family member is interested in investing $2000 in bitcoin How would she go about doing this? (just pointing me to a site where you guys think is a good one to buy would be super helpful) Do you guys think it's wise at this point? Really clueless tbh

Best thing is to build a ghetto mining rig by getting cards off facebook/craigslist for cheap and a milk crate or two. Straight up dumping money is stupid, if you're going to put your money into this, at least buy income-producing assets.

Also make sure you research the different algos and which cards (amd or nvidia) are best suited.

On September 11 2017 01:50 Barley wrote: Show nested quote + On September 10 2017 17:13 devon06atX wrote: Family member is interested in investing $2000 in bitcoin How would she go about doing this? (just pointing me to a site where you guys think is a good one to buy would be super helpful) Do you guys think it's wise at this point? Really clueless tbh Best thing is to build a ghetto mining rig by getting cards off facebook/craigslist for cheap and a milk crate or two. Straight up dumping money is stupid, if you're going to put your money into this, at least buy income-producing assets.

to mine you even have to know much more about it, its not just printing money since the margins are tiny given energy costs, most ppl here who have made a lot of money dont mine just straight up bought at low price

non-sense. i mine zcl specifically with gtx cards and even a 950 can make 250 a year. with energy costs, fortunately, it only takes about 15% of my income. then you have appreciation on top of that if you mine the right coin at the right time. if i were to dump money, it's into income-producing assets. a rig can have a higher resale value than the individual parts, but if btc drops 25%, you're fucked that 25% unless it comes back up.

there's also exchange risk, like we're seeing with china right now.

Yeah mining certain coins might be a good move. BTC though it's pretty stacked with superior farms and mining pools doing a one man show is pretty pointless.