Bitcoin's and the future of online banking - Page 54

okay thanks for the info :-)

SHUT IT DOWN!
https://www.marketwatch.com/story/bis...-to-act-on-bitcoin-2018-02-06-5485649

Yeah thats a cry for help after Switzerland basically said that they want to become the Silicon Valley of cryptos. No wonder banks are shitting themselves

And you know they are shitting themselves when they try to point fingers without looking at absolute data and saying stuff about illegal activities :D

Senate meeting went extremely well.

man that Senate meeting what in the fuck, a very well informed senator with a pro-crypto stance? Is this real life?

On February 06 2018 21:29 Baalim wrote: man that Senate meeting what in the fuck, a very well informed senator with a pro-crypto stance? Is this real life?

obv he has his own and his backers' agenda.

On February 06 2018 16:51 Mortensen8 wrote: SHUT IT DOWN! https://www.marketwatch.com/story/bis...-to-act-on-bitcoin-2018-02-06-5485649

why? it's fun.

On January 13 2018 00:27 Daut wrote: Show nested quote + On January 12 2018 19:51 cariadon wrote:   On January 12 2018 03:35 Daut wrote:   On January 11 2018 00:05 Spitfiree wrote: Can someone recommend some good reads on technical analysis for beginners, - which rate is better to follow currency/USD or currency/btc and everything around that, I basically only understand the basics and mostly invest on knowledge of product, politics around it, faces around it and blah blah all data you could find, but seems like involving technical analysis would be much better - e.g. STRAT is moving in a pretty cool uptrend channel compared to BTC, but compared to USD it doesn't really seem that way Secrets for Profiting in Bull and Bear Markets by Stan Weinstein Reminiscences of a Stock Operator by Edwin Lefevre https://www.babypips.com/learn Daut can you please explain why technical analysis works? Basically predicting future based on past events? A lot of it is based on the psychology of people trying to book winners. Say for instance Dash hits a local top at .09 BTC, you and some others buy at .08 BTC, and the price falls to .05 BTC before starting to rise again. It will be difficult to break through the .09 level because many of the people who bought and stubbornly held on through the downswing will try to book a winner and will dump it once the price exceeds their entry, so the .09 BTC level is a strong resistance area. The rest is sort of a self fulfilling prophecy: if enough people read into a chart and react predictably based on what happens, then the expected is more likely to happen.

Where were the resistance areas during this latest selloff? Have any prophecies been fulfilled?

Technical analysis is just something that doesn't make sense to me.

It's like poker, you're working with patterns and are trying to predict the market and get an edge in the long run on it , and hope your calls work more than 50pct of the time (+fees)

On February 08 2018 22:26 LemOn[5thF] wrote: It's like poker, you're working with patterns and are trying to predict the market and get an edge in the long run on it , and hope your calls work more than 50pct of the time (+fees)

thats incorrect, your calls could work 25% of the time and you can still be an insanely sick winner, still at the beginning of learning myself but its basically a combination of positions, risk management and exit strategy, doesnt matter if you lose 70% of the time, if you lose small but the other 30% you catch a moon call

On February 08 2018 19:33 cariadon wrote: Show nested quote + On January 13 2018 00:27 Daut wrote:   On January 12 2018 19:51 cariadon wrote:   On January 12 2018 03:35 Daut wrote:   On January 11 2018 00:05 Spitfiree wrote: Can someone recommend some good reads on technical analysis for beginners, - which rate is better to follow currency/USD or currency/btc and everything around that, I basically only understand the basics and mostly invest on knowledge of product, politics around it, faces around it and blah blah all data you could find, but seems like involving technical analysis would be much better - e.g. STRAT is moving in a pretty cool uptrend channel compared to BTC, but compared to USD it doesn't really seem that way Secrets for Profiting in Bull and Bear Markets by Stan Weinstein Reminiscences of a Stock Operator by Edwin Lefevre https://www.babypips.com/learn Daut can you please explain why technical analysis works? Basically predicting future based on past events? A lot of it is based on the psychology of people trying to book winners. Say for instance Dash hits a local top at .09 BTC, you and some others buy at .08 BTC, and the price falls to .05 BTC before starting to rise again. It will be difficult to break through the .09 level because many of the people who bought and stubbornly held on through the downswing will try to book a winner and will dump it once the price exceeds their entry, so the .09 BTC level is a strong resistance area. The rest is sort of a self fulfilling prophecy: if enough people read into a chart and react predictably based on what happens, then the expected is more likely to happen. Where were the resistance areas during this latest selloff? Have any prophecies been fulfilled? Technical analysis is just something that doesn't make sense to me.

Looking at the graph there seems to be one at 12-13k, and a big one at 10k, there is supposedly one at 8k, but in this bear run its looking more like a resistence than support funnily enough and then there is also a clear one at 5+k where it reached its lowest point (hopefully)

Doesn't strong support/resistance basically revert based on the run e.g. previous strong resistance becomes support and vice versa

Well resistance becomes support because a lot of money goes out at X price, so it requires a lot of people to buy at that price to ovecome that point thus it becomes a resistance point.

I suppose on the opposite scenario if a lot of people sold over a resistance point they wont be willing to buy at a higher price than they sold, but this seems like a smaller psychologial effect but I'm totally talking out of my ass here, I dont know much about TA

For every buyer there is a seller. So no.

I missed the part where you/we make money trading on technical analysis during this latest selloff Baal

Looking at the graph after the fact doesn't help us in any way to shape a strategy for future profitable trades. Its just clicking buttons.

On February 10 2018 07:12 cariadon wrote: For every buyer there is a seller. So no. I missed the part where you/we make money trading on technical analysis during this latest selloff Baal Looking at the graph after the fact doesn't help us in any way to shape a strategy for future profitable trades. Its just clicking buttons.

according to TA you can deduce support points to try to calculate valleys, I dont trade, I'm a hodler

https://www.forbes.com/sites/jessecol...sic-bubble-stages-chart/#371344bd36b8

5 years going strong following those classic bubble stages, mass media continuing to remind us every month.

Meanwhile, this is the log chart of Bitcoin:

On February 10 2018 07:57 Baalim wrote: Show nested quote + On February 10 2018 07:12 cariadon wrote: For every buyer there is a seller. So no. I missed the part where you/we make money trading on technical analysis during this latest selloff Baal Looking at the graph after the fact doesn't help us in any way to shape a strategy for future profitable trades. Its just clicking buttons. according to TA you can deduce support points to try to calculate valleys, I dont trade, I'm a hodler

What the fuck is a support point? Bitcoin fell through many "support points".
Bitcoin is valued at10 000 USD. I buy one bitcoin from you. What else is there?

On February 10 2018 13:45 cariadon wrote: Show nested quote + On February 10 2018 07:57 Baalim wrote:   On February 10 2018 07:12 cariadon wrote: For every buyer there is a seller. So no. I missed the part where you/we make money trading on technical analysis during this latest selloff Baal Looking at the graph after the fact doesn't help us in any way to shape a strategy for future profitable trades. Its just clicking buttons. according to TA you can deduce support points to try to calculate valleys, I dont trade, I'm a hodler What the fuck is a support point? Bitcoin fell through many "support points". Bitcoin is valued at10 000 USD. I buy one bitcoin from you. What else is there?

not_sure_if_srs.jpg

Just like in poker, just because you have AA against 72 doesn't mean you'll win. There isn't an axiom about support zones being a 100% chance of price bouncing from there, otherwise trading would be solved? Thats why orders exist, so you can sell/buy on above/under the support zone and take advantage of the trend. Which brings us back to the previous discussion, where you just have to make calls which make more money than the calls that lose money.

But your comparison is basically saying " so what I got AA and he had 72o but board came down 77722 so what - it doesn't matter"

On February 11 2018 01:23 Spitfiree wrote: Just like in poker, just because you have AA against 72 doesn't mean you'll win. There isn't an axiom about support zones being a 100% chance of price bouncing from there, otherwise trading would be solved? Thats why orders exist, so you can sell/buy on above/under the support zone and take advantage of the trend. Which brings us back to the previous discussion, where you just have to make calls which make more money than the calls that lose money. But your comparison is basically saying " so what I got AA and he had 72o but board came down 77722 so what - it doesn't matter"

Hey Shitfiree here is your trendline, go make millions.


Trading isn't poker, go educate yourself before writing obscure nonsensical things.

On February 10 2018 23:47 Baalim wrote: Show nested quote + On February 10 2018 13:45 cariadon wrote:   On February 10 2018 07:57 Baalim wrote:   On February 10 2018 07:12 cariadon wrote: For every buyer there is a seller. So no. I missed the part where you/we make money trading on technical analysis during this latest selloff Baal Looking at the graph after the fact doesn't help us in any way to shape a strategy for future profitable trades. Its just clicking buttons. according to TA you can deduce support points to try to calculate valleys, I dont trade, I'm a hodler What the fuck is a support point? Bitcoin fell through many "support points". Bitcoin is valued at10 000 USD. I buy one bitcoin from you. What else is there? not_sure_if_srs.jpg

You condemned that user luckys chart to being bulshit, but don't explain how the same thing in a narrower timeframe isn't. Technical analysis yes or no ? I don't think you've argued for it here and don't actually need to reply.

Not sure if support points is a thing. Resistance to what?

There are about 17 million bitcoins in circulation and an order book that is filled with very small orders. Draw your own conclusions.

Here is the order book https://www.bitstamp.net/market/order_book/

https://blockchain.info/charts/total-bitcoins?timespan=all