where are u reading this ****? reddit?. the tether thing seemed kinda small

Outside of my job,

I live eat and breathe crypto. I’m in the crypto ocean and let myself float.

I’m in it. I know traders. I know people who are worth insane $. I talk to them. We share ideas (I’m generally not a day trader)



You can check my post about being careful on the last page. How can you go up when the most liquid exchange on earth doesn’t have anymore margin to give you to go up? It’s ****ing obvious this afternoon you had to be short or flat.

Only way out of that mess is if cash is buying. And given the intraday volatility you would never survive 24hr to see if institutional bids rolled in the next day.

its not a bubble until its a fully leveraged bubble. I dont think enough people are leveraged to the hilt for this to be anywhere near the top of a bubble. in the dotcom bubble I was in MBA and everyone was using thier student loans to load up on nortel and I cant remember the others. thats a bubble. The 2008 housing bubble was maxed leverage.

the cascade of a bubble bursting is only as bad as the leverage it took to get there. and cryptos have a long way to go before the leverage is so great. tho....its almost inevitable unless there is tightened rules on fiat debt to fund crypto investments

yes...cash buying is slow(well pretty fast but not bonkers, its not easy to move the money) and steady. and there is rotation among assets, and there is leverage in the direct market. so yes when things get ahead of of these sources of capital its hard to keep it pushing.

what do you mean institutional bids? I waont be leveraged when they start battling it out its going to be a firefight I think. lot of money with desires of making things go at different directions

Now we're discussing the size of the bubble?

The downward velocity and depths reached are Dependant on how much debt it took to get to the current price. My arguement is that even if things drop 50%, that isnt a bubble bursting. there will be a new high and another until debt is readily accessible and easily transfered to bitcoin. then there could be a deep burst, when everyone is tapped out servicing thier debt and cant withstand the loss in equity.

but I dont think we are anywhere near there yet. Aggo is right in most ways...if the money cant keep coming....then **** hits the fan. I dont think there is enough leverage covering and defaults to push it really low anytime soon

The drop 100% coincided with the tether announcement. Weak hands sold. But really 30m is nothing so it has recovered and all it really did is shake out some weak hodlers

Last week market cap was under 200 billion, today it was 245 before the tether storm, now it's still at 230.

it did coincide. it can shake confidence i suppose no matter the amount, perhaps deter......im just wondering how twitchy the markets are to this kind of announcement, because if it is over this hack....thats very twitchy.

Yes the crypto markets are very twitchy and reactive, but it's generally short-lived. It's basically recovered.

I think people with capital are looking for an event so they can twist the market and make the event seem bigger than it is, get some panic sells etc.

do you put in stops? Im thinking of running some stops to protect from government intervention, but it would be a big stop. 20% if i happen to be sleeping but i cant imagine government intervention while im sleeping

I don't trade. Just hodl.

I don't think government intervention is a realistic concern, there are lots of others, however.

im not worried about government intervention...i think it will sort itself out and that no government wants to be caught out of the loop on technology. I'm trying to inform myself about the markets twitchy reaction to headlines. Im not worried...but i can be better informed

Big Bang Theory doing a bitcoin episode on november 30. http://bigbangtheory.wikia.com/wiki/...n_Entanglement

This is exactly what i warned against in my post.

You're arguing over whether green or blue is a nicer color.

Obviously somebody with 50mil losing 25mil is aware that this can happen, so i'm sure that person would not need protection from anybody.

The mistake many people do here is to judge value/risk appetite from their own perspective.

The guy with 10k who is losing 10k... maybe there is a reason why he only had 10k in the first place? Aka, for him to recover that money will take quite a lot of time. Or maybe he is fine living on 500/month has low cost lifestyle but is otherwise happy... and having to work a lot would be the worst.

I'm not saying he should not take max EV, but i can easily make the case to not.

All hypotheticals. We don't know.

Understanding what you're doing is key.

I thought Gdax was supposed to be way cheaper than Coinbase?

Yes that was horrific, we are at ATH's.

Sometimes you need to take a step back and not worry about every 2 minute candle stick.

You sure did #knew

Your posts try to sound smart, but in reality they are ******ed as ****. Perspective my friend. Seems you have zero common sense.

People like this are going to get hurt very bad once the bubble bursts.

And your posts are stupider than your dimwitted slobbering mother. See, content-free rebuttals are what turn these forums into trash. I carefully explained the reasoning so debate the points or shut the **** up. No content-free garbage posts.

We're really really close. Lightning Network is *real* close. Massive development efforts, integration efforts. It won't solve everything overnight but it's a great first step.

We've seen a reluctance in investment from companies in this space to actually work at these layers. They have put all their efforts into just externalizing costs through forks and dumb scaling.

Lightning was first published around 2 years ago IIRC. Actually making a useful spec takes time, and now developers are working on it (3 teams from 3 different companies).

Most things don't get built until there is a real problem to solve, though. I think we are getting to the point where it's becoming a priority. We can tell people this is coming but until the pain hits, there's a lack of preparation. Tell someone to stock up water and food before a storm and they wait until it starts raining.

But now you have places like Square integrating with Bitcoin. You'll see more of this. Investment firms that hold your stock for you will now hold cryptocurrencies. You'll be able to choose custodians, but the base layer will have no trusted third party, which is the true innovation.

There is actually very little infighting between developers. The vast majority developers are incredibly helpful and friendly. Disagreements are minor. There are a few developers who do not take peer review well and are argumentative and end up working on their side projects.

https://lwn.net/Articles/419822/

This typically is consistent with their previous behaviors on other projects. If you don't take feedback well or are not skilled, you'll have a bad time.

There are maybe 3 developers who have been toxic in this regard in the history of Bitcoin out of the 100s of contributors (Garzik, Andresen, and Hearn). They are lower-tier developers who basically got left behind once more skilled developers showed up. I'm not convinced at least one wasn't even sent by 3 letter agencies to have a way to influence Bitcoin.

So yes, progress continues and Bitcoin chugs along. It's not going to move at the Silicon Valley standard of move fast and break things - it's now a $100B network that primarily values stability.

Fees keep rising, but simply due to Bitcoin being able to serve roles far better than competitors. Areas where Bitcoin was not vastly superior will probably drop off some until Bitcoin is so widely used that it can't be ignored. But the most valuable use cases will dominate for the time being.

Not even close! I've been a pretty horrible trader and have been overly pessimistic about various attacks over the years. But it's never stopped my love for it. I do hold the largest USD amount of Bitcoin that I've ever had by a good amount, but most of my re-entering has been late. But I'm more all-in than ever.

bitfinexed

re- rekt.

Finex just added Euro bankwire deposits and withdrawals. If legit, hugely bullish. We'll find out next week whether the Euro bankwire withdrawals flow smoothly.

Edit: I forgot today is Tuesday . We'll find out next within a couple days.

Oh, boy. I dunno what to do if TC is on board.

The languages of intelligence (writing) and self-interest (money) are the mind’s greatest creations; both must be decentralized or all is lost.