I meant picking the bottom is impossible (with any accuracy to within a hundred dollars like the banned poster had picked). $900 is totally possible I agree, but probably intraday?

A close below $900 on any given day now seems kind of nuts. I'd think the dudes who made billions on these have enough money to rescue it from those levels and would. Probably going to be some elite collusion in the eventual rally if so many coins really are controlled by so few.

As for the other part, Yeah I got old, trolling got old. An occasional bad old habit from the early 2000's. Been many years now that I've changed, but I guess it took a bit of time for it to stick.

Hey all got a question. I read that people say you should never withdraw btc from a gambling site directly into coinbase. Such as if you have btc in coinbase and want to deposit it into a gambling sites, always use a bitcoin wallet or blockchain right?


Also the opposite holds true such as if you withdraw btc from a gambling site, always, give them your bitcoin wallet address... then you send the btc to coinbase. First off, that is still true right? And when people talk about coinbase banning their accounts, which way is it usually because of? Going from coinbase to gambling site or gambling site to coinbase?


Now i just thought about something else. When i withdraw btc from gambling sites, i would have them send it to my bitcoin wallet etc. Then if i want to send the btc to say an exchange like bittrex, i would then send the btc from my bitcoin wallet to bittrex. Does anyone know if there are any issues if you withdraw btc from a gambling website and the btc address you give them is bittrex or say binance? Or the other way around such as i have btc in bittrex or say binance... i send it directly to a gambling site without using my bitcoin wallet as an intermediary? I ask this because if i could do it that way, well i dont have to wait for the btc to be received on my bitcoin wallet... then it takes a while to send the btc to bittrex or say binance.

There's millions of pokerstars accounts too but only a fraction of them log in anymore. No one on this forum thought poker would die in 2010 either, but it did.

No one wants to use a currency that costs $50 to get a simple transaction through in less than a day and no one wants a store of value that can lose 65% (and going) in a month.

It will be relegated to its only use case---darknet markets---until a faster, cheaper, more secure coin takes its place. $1-2k in the short-medium term. Sentimental value in the long term.

Blockchain keep history of everything it takes some space on some hard drive.
When you validate some coffee transactions it cost mining power and hard drive storage. Is it relevant to keep those forever. Or should people use some alt coins that are more designed for that or something like lightning that will be less secured but allow you to settle your bill with one transaction on the chain while you bought food and coffee on their peer to peer network.
Do you want to have millions of people able to keep that history on some old computer.

We'll see a ton of development in the coming years. The debate is wether developpers should take shortcuts and prefer pushing for adoption with long term concequences or take their time with slower adoption and the risk of never really taking off while competition does.

Terrible comparison for so many reasons. First, everyone foresaw a poker downtrend after UIGEA, and a blind man could see the forthcoming impact after Black Friday. Other large markets pulled out: france, spain, russia, italy, and others I can not remember. AFAIK, live poker is still booming. Also, Pokerstars enacted policies designed to chase regs away such as increasing effective rake and cutting bonuses.

As for Bitcoin, a bottom must be in sight. All the bottom indicators are surfacing.. long-term holders abandoning ship, miners selling rigs, everyone calling BTC to zero. Not saying Bitcoin goes parabolic again, but way too many pleb doomsayers have materialized everywhere.

One thing I'm pondering is if "because rich" can be the side you bet on for anything once it becomes a global phenom of this size. There can't possibly be a single investment vehicle capable of lifting all boats globally. You can't save all the Venezuelan kids, you can't make all the university hodlers millionaires.

The dudes in this thread, the real early adopters, had the brains to invest BEFORE this thing was a huge huge story even your mom heard of. Imho you cashed in on human emotion (very cleverly I'll add), you got to benefit from the very fact that *most* people are morons. The two bubbles I've been around in the last 5 years (pot and bitcoin), in both cases I grossly miscalculated just where the frothy bubble part was. Twice I tried to use something other than just measuring peek froth. In pot I told myself "these companies just can't command these valuations", like logic mattered. Left 30x on the table from my super super early entry. In Bitcoin the volatility was what did it for me. I can suffer some pretty volatile stuff, but not that.

I'd like to think that when the next bubble comes along I'll be better at spotting that frenzied period and ride till THAT. You have to wait till the FB ads, videos EVERYWHERE, posts everywhere, friends texting you, your mom knows about it, then you sell it all.

But right now reading reddit, it's clear this thing is simply annihilating morons. Obviously there are some smart people with some coins, I'm not talking about you. But most of the people getting their asses handed to them right now are the dumb and the conspiratards folks. Tons of blind leading the blind, lots of pointing at the corrupt FED as the reason BTC will thrive, lots of vague reference to the value of the technology.

But the truth really has to be that a bunch of kids saw a way to get lambos and the last one's in got took. What's left in the current state is a decent place for criminals to put some money, whenever it settles into something a bet less volatile than what we see today.

I think the last thing that really hurts crypto is the fact that anyone can make one. If we kept finding energy sources every month better than the last one, man the commodity markets would be more of a gong show than they already are. The best thing that could happen to BTC is a drop to sub $1000 or something, totally crushing every soul in the way. Then a flat boring market where the thing actually gets used for what it was "meant" for, and the tech actually proves to people that it's really useful. THEN, I think it could become more than it is today.

I made the same prediction weeks (months?) ago ITT. Tech developments + a halvening or two makes higher prices more sustainable.

Signs of mass exuberance in Dec/Jan were everywhere. Front page Reddit everyday, TV coverage, mom/pops/grandmas asking to buy, old friends messaging me for the first time in years, people saying we never see 4 digit BTC again. Unfortunately the newcomers had not previously experienced standard BTC carnagein the market, and without getting a burned a few times, it's difficult to learn that BTC follows this pattern over and over again. People who received bad advice from friends and family or were misled by the media are now having awkward dinner conversations, and someone just committed suicide in South Korea.

You must have a pretty big ass to pull 6 paragraphs of cringe out of it. "Criminals" lol.

The same thing is happening in pot stocks literally now (as you well know I'm sure). Every single sign of this coming was there. Shorts had one of the great short setups I've ever seen.

You can disagree with whatever you want, we're here for a discussion. But shorting BTC from the peaks just as the futures market opened was also one of those trades you just execute on and wait. You're going to get paid. What it means for BTC in 2-5 years? Who knows, too much can change between now and then. But today, this collapse was the closest thing I've seen to a lock in a while. I had hoped to trade little bits of it on technical bounces, but even that may be impossible with the amount of time (or lack thereof) I can commit to it.

How many different times and ways do you plan to let us know you were right and we were wrong rafiki? I think we all get it.

I don't understand the temptation to summarize and conclude when it's obvious you don't have the slightest clue. It's literally throwing darts. Throwing darts with 0 skin in the game makes you a Pokerstars play money specialist. You're literally saying nothing based on results oriented nothing. This is worse than the trolling because people with poor reading comprehension are going to think your hindsighted bull**** is substantive (e.g. Czar).

I'm am literally not saying that. In fact if you read my posts, I'm saying I WAS WRONG. I've said that at every step of the upswing. I was wrong to miss the mechanics of the bubble, I missed out on that opportunity.

Now that we are in the downtrend, it's extremely important we talk about it. Because if there is a going to be a full blown recovery, or a technical one, or something else, it would be useful to know why or why not. If HODL is the why, everyone is going up in flames. If there is another reason, LET'S TALK like civilized adults.

I bought and sold already, and clearly explained the sell. It's disingenuous to say that I did not.

What's confusing me is why you take such a offence to the discussion. So I will put this to you in a far more constructive way:

Today, what is it that makes one BTC worth say 10k? Next year, what is it that makes BTC worth say 50k? Eventually, what will it be that makes a BTC worth 100k?

Can you explain what it does well? Be it as a currency, or an investment vehicle, or a store of wealth? This is a genuinely honest question, not an attempt at more. Since I know nothing, this is the perfect spot for a discussion to explain how do you assign the value?
I'm somewhat prepared to entertain the idea of scarcity. So assume I agree with you there.

I don't take offence. You said something moronic and I'm letting you know that. You're talking as if bitcoin is "dead" but you have 0 idea what you're talking about. You're talking about criminals but you have 0 idea what you're talking about. You won't specify what type of criminals or how bitcoin helps them do anything because you have 0 idea what you're talking about. You're talking about the "current state" of bitcoin but you have done almost no research, talked to none of the most important people in the space, have no understanding of the regulatory environment of your own country (let alone any other), worked with literally 0 of the 1500 currencies on CMC, have an elementary understanding of the technology, and generally have 0 idea what you're talking about.

You're trying to have meta discussions in a language you don't speak. This should be transparent to anyone reading this but it's a bear market so your vague baseless musings aren't immediately dismissed. This is just like every moron with a dousing rod picking winners in November's bull market and thinking they deserve an opinion.

You are not looking for answers to those questions, you freaked out because of the crash, nothing else nothing more. No matter what people will explain to you, you wanted a become rich quick with no effort scheme and at the first sign of difficulty you folded.
You are like a secretary at my work who bought 400$ of OMG last month and who is freaking out because in her mind she was hoping to double in a few months and cash out.

Is the bleeding ever going to stop? What's a realistic bottom?

bitcoin is still up 6X in one year, bottom could be much lower and that wouldnt be shocking.

1170

No offense dude, but this is everything that is wrong with our society right now. This country is full to the brim with loafs like you who are just going to lollygag around waiting till "the next bubble comes along." Better keep your eyes on Reddit!

What ever happened to taking initiative? Do you have any idea how many penny stocks are out there just waiting to be primed and pumped? When is the last time we had rumblings in the platinum market? Why not go out and make your own opportunities?

I hope the bleeding stops so people like zangif can get a grip on their shattered minds

Looks like China basically has banned cryptos.

And +1 to earlier post about the hearing tomorrow being a flash point for the market some of the time.

China has basically forced people to use their vpn more.

I started to buy back in this mornings big dip. Since I suck at trading but I'm very bullish on the long term for bitcoin. I'm following the advice I got from some others in this thread to just cost average in and scale myself in. So I actually hope it goes down in price, so I could get more btc for my fiat.

But it does still feel very ugly momentum wise.

Pretty sure they banned both mainland China and offshore crypto exchanges.

I'm in the bitcoin eventually goes to 80-100k but first we see 1-3k camp.

Just bull****ting here but if i had to guess bounce off 6.5k (or maybe 3/4k) back to 15-17k (bulltrap) .Then slow drop back to 1k (better set limit orders at 1k cause probably flash crash to lock the herd out) then mega boom to new highs?

The conspiracy against fiat money is juvenile. As a form of money, having to keep a ledger of every transaction is insane. Central banks control inflation and fluctuations via interest rates and counterfeiting is pretty minimal:

Crypto's main utility is facilitating illegal transactions (poker, silk road, etc). From that perspective, network size is much more important than transaction speed or fees. Aspirations beyond that seem very far fetched.