Bitcoin Talk

[JVonChron]

things will get interesting once all of the coins are mined. can't really estimate when that will be but thats when things will get weird. also gonna be a shake up when the futures markets get rolling because the banksters will be able to manipulate the value at that point

 

[EasyGoing]

if btc is 30k by march 1st ill give you 1 ltc, if not, you give me 1 btc?

I must admit, 30k is very bullish, but it will break the 20k around Feb (it's upper limit to date) and no telling where it will land then. I am confident on the 100k by Dec 31st, so it has to have big months going into that. Not willing to give up one of my bitcoins, but I would wager some tron or icx.

 

[Douglas.Curtis]

Once the wall street "Futures" market gets in full swing, expect some REALLY big players to drive the market price WAY down, so they can clean up. lol It's a gamble, but I'm betting you'll get a lot more bitcoin for your buck if you wait a couple of months to a year.

Yes, I could also be quite wrong. lol That's crypto.

 

[Rox]

if btc is 30k by march 1st ill give you 1 ltc, if not, you give me 1 btc?

If it hits 30k by march you give me 1btc, if not I give you 1dash?

 

[zif]

Once the wall street "Futures" market gets in full swing, expect some REALLY big players to drive the market price WAY down, so they can clean up. lol It's a gamble, but I'm betting you'll get a lot more bitcoin for your buck if you wait a couple of months to a year.

Yes, I could also be quite wrong. lol That's crypto.

By what means do you imagine futures will allow the big players to drive down the price?

I can’t see trading on the futures market doing anything except starting to moderate volatility in BTC, because for every ‘lower at date X’ contract there had to be a matching ‘higher at date X’ bet from another player. The net effect shouldn’t be price movement, but rather some inertia behind a kind of moving-average-predicted-price, no?

 

[zif]

Well they've had a go to stop exchanges there etc and now seem to be attacking the miners (though a bit of conflicting info there)

Damn, missed that. A nice gift to miners everywhere else if they succeed.

But it’s not surprising. I don’t really expect stabilizing moves from the biggest global economies, at least from state actors. But I have to imagine that middle-tier treasuries are seriously considering what effect they might have by stepping into the crypto markets. Simply guaranteeing convertibility of crypto coins into local currencies has got to be looking like a good play to somewhat marginalized states. Once a few middling economies have done so, a snowball effect seems likely. And all the while the increasing liquidity should help drive the overall market to a more stable state.

 

[Douglas.Curtis]

By what means do you imagine futures will allow the big players to drive down the price?

I can’t see trading on the futures market doing anything except starting to moderate volatility in BTC, because for every ‘lower at date X’ contract there had to be a matching ‘higher at date X’ bet from another player. The net effect shouldn’t be price movement, but rather some inertia behind a kind of moving-average-predicted-price, no?

Bitcoin is still a small fish, in the larger financial world (for now). Watch and see what happens when truly large whales start messing with it. lol (Hint: the majority of crypto traders are not very educated and quite fearful)

 

[ganjygav]

I've been having a look. I've decided I'm gonna throw a couple of hundred of £ into crypto currency. Not with any expectations but it all looks very exciting and I want to be a part of it lol.
From from what I was reading this morning there's other currencies that are predicted to do well this year.

 

[ganjygav]

I'm looking at ripple at the moment. Any thoughts? Also I would like to get a wallet and an account started. Can anybody link me to sources please. I find it hard to trust websites when it comes to money would rather here from you guys which I should use.

 

[Douglas.Curtis]

Ripple is banker controlled. I've stayed way, WAY away from the coin.

Look for coins with dividends or tied to services. Ones with a good development team and a great marketing team. Hit me up for a referral link to the mining company I've had contracts with for years. Lower paying, yet steady and a great company working to be around for decades.

 

[EasyGoing]

ganjygay - Ripple is evil. It's the bank's version on crypto, and its not decentralized. People are making money on Ripple, but I wouldn't touch it with a ten foot pole. The general rule of thumb for anybody playing with crypto is most of your portfolio goes to Bitcoin, Ether or LTC. Those are the most stable, and store wealth well. Then you have some mid level bets, like Tron and Icon. Then you have some long shots like RaiBlocks, TNT and WABI.

Those are just some of the examples, hundreds of coins out there.

 

[zif]

Bitcoin is still a small fish, in the larger financial world (for now). Watch and see what happens when truly large whales start messing with it. lol (Hint: the majority of crypto traders are not very educated and quite fearful)

That’s true, but I was curious ‘how’ you think they’ll drive the price down?

The bitcoin supply isn’t a target. Bigger players getting in won’t change it, so the only lever they have there is to drive up demand (i.e., price). Futures contracts require a bet on both the upside and the downside, so they also don’t seem like a good mechanism to move the price. Maybe if there are options on the contracts, they can be used to force moves? I’m not sure.

I am sure that govt regulatory actions can affect demand, and also in both directions. E.g., the taxman deciding to use blockchain inspection tools to tax every transaction in retrospect would surely dampen demand while Switzerland guaranteeing BTC -> CHF would surely increase demand.

But are you going on gut, or do you have a theory for your predictions?

 

[Chappi]

Most of the BTC supply is owned by whales, making it hard for even deep pocketed wall street manipulators to succeed in fucking with the price. Also in order to short you need a lot of money on margin.

“ However, the firm’s strict requirements will likely price many retail investors out of the market. All clients taking short positions will be required to maintain a margin of $40,000 per contract in their trading accounts for each short sale. Since each CBOE contract is equivalent to 1 BTC, that margin requirement works out to more than 200 percent of the contract value. Clients taking long positions, for reference, must maintain a margin of $9,000 per contract, a rate of approximately 50 percent”

https://www.ccn.com/want-short-bitcoin-going-cost/

 

[ganjygav]

I set up coin base. I want to take a gamble on some smaller currencies how do the wallets work? Do I need a different wallet for different currencies?

 

[EasyGoing]

You now have a coinbase account. That means you can buy BTC, ETH or LTC with fiat money. Fiat money is the dollar, yen, ext. Once you have bought your crypto with fiat, you can now open up an account on Binance or Kucoin. If you are looking for a smaller coin, go with Kucoin. However Binance is way easier to use, and I believe more secure. Once you are all signed up, you will have to transfer your bitcoin/ETH/LTC from Coinbase to Binance. Once you have BTC/ETH/LTC on Binance then you just use those to purchase your alt coin. I would suggest buying into Eth at coinbase, as it's faster, more stable atm and Binance trades with it.

 

[ganjygav]

You now have a coinbase account. That means you can buy BTC, ETH or LTC with fiat money. Fiat money is the dollar, yen, ext. Once you have bought your crypto with fiat, you can now open up an account on Binance or Kucoin. If you are looking for a smaller coin, go with Kucoin. However Binance is way easier to use, and I believe more secure. Once you are all signed up, you will have to transfer your bitcoin/ETH/LTC from Coinbase to Binance. Once you have BTC/ETH/LTC on Binance then you just use those to purchase your alt coin. I would suggest buying into Eth at coinbase, as it's faster, more stable atm and Binance trades with it.

Thank you, very helpful.

 

[sourpuss]

Ganjagav we just had the all time high for bitcoin in december. Coin market is shaky. Makin money on shorts not long....

Although bitcoin looks to be at a low now so invest wisely... seems to be is what the big fish want u to think tho.... it all about the mind fuck...

 

[ganjygav]

im banned from coinbase.

Why?

 

[sourpuss]

Interesting read on bitfinex exchange...

https://bitfinexscam.com/

 

[sourpuss]

If buying at coinbase buy bit cash or litecoin for lower transfer fees to another exchange.