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Thread: Bitcoin Cracks $5000

  1. #811

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    10,960
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc


    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."



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  3. #812

  4. #813

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    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc


    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  5. #814

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    In Consolidation Mode, Bitcoin Awaits Decisive Move
    https://www.coindesk.com/consolidati...decisive-move/
    The descending trendline resistance and the inverse head-and-shoulders neckline are shown to converge at $11,640 by Saturday.
    A high volume break (UTC lose) above $11,640 would signal long-term bull market revival and could open up towards $17,000-$17,400.

  6. #815

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    http://fortune.com/2018/03/02/bitcoi...action-volume/

    Bitcoin Transaction Volume Is Puzzling Investors


    Earlier this year, when Bitcoin’s price fell by more than 60% from its record close, a less-noticed Bitcoin figure also plunged: the number of daily transactions.

    There are many explanations for the fall-off in trading, from software- to news-related. What’s less understood is why the level hasn’t recovered as Bitcoin’s price made a 50% comeback since Feb. 5. That’s left some investors wondering whether the cryptocurrency is waning in popularity.

    The average number of trades recorded daily has roughly dropped in half from the December highs and touched its lowest in two years last month, even as Bitcoin became a household name and roared back above $10,000.


    The transaction data may be bad news for Bitcoin bulls, according to Charles Morris, chief investment officer of Newscape Capital Group in London, who invests in cryptocurrencies. Trading and purchases on the Bitcoin network, which can be measured by metrics like transaction volume, is indicative of price direction, he said.

    “We had a hype-cycle and now it’s cooling down,” Morris, who’s working on a project that will facilitate price discovery in various cryptocurrencies, said by phone from London. “We just may be entering a bear market” for Bitcoin.

    Transactions plunged from a seven-day average of almost 400,000 in mid-December to about 200,000 this week, according to research firm Blockchain.info. The last time it was this low, the currency traded below $500.

    Transactions waiting to be officially recognized by the Bitcoin network dropped from a seven-day average of 130 million bytes in early January to about 35 million now.

    Average transaction confirmation times have tumbled — though that may be in part because the technology that underlies Bitcoin has already been adapted to address some of these delays. For example, a software enhancement known as the SegWit protocol, changing the way data is stored on the blockchain, was activated last week by Coinbase Inc., the largest U.S. cryptocurrency exchange.

    Not everyone agrees that lower volumes signal trouble for Bitcoin. It may be a healthy return to normality and signs that the market is maturing.

    Should prices start rallying again, traders may well be coaxed back, according to David Drake, whose New York-based family office has more than $10 million in cryptocurrency and blockchain investments. He sees the currency soaring to $35,000 by the end of the year.

    “We have a legacy of transactions being too slow and expensive, and it will take some time for people to forget,” Drake said by phone. “But they’ll come back.”

    The decline in prices may itself be to blame for lower trading volumes in Bitcoin. And websites that once only allowed payment in Bitcoin now accept a much wider range of digital currencies, according to Kyle Samani, managing partner at crypto hedge fund Multicoin Capital. That makes alternative currencies more appealing than the first-mover in the space. A year ago, bitcoin’s market capitalization was about 85% of the total sector. It’s now around 40%, according to website Coinmarketcap.com.

    “Merchants, payment processors and online gambling are moving off of Bitcoin,” Samani, who has $50 million allocated to the space, said in an email. “Our Bitcoin position as a fund is small — I believe Bitcoin is in the process of failing.”
    Quote Originally Posted by NorthCarolinaLiberty View Post

    Half the crap I write here is just to entertain myself.
    I am Zippy and I approve of this post. But you don't have to.

  7. #816

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    There's been a lot of speculation that the dramatic bitcoin transaction volume was all a deliberate attack to raise the price of Bitcoin transaction fees. Bcash has been on the offensive about BTC's high transaction costs.
    “…let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!!” – Spartacus, War of the Damned

    BTC: 1AFbCLYU3G1dkbsSJnk3spWeEwpqYVC2Pq

  8. #817

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    Quote Originally Posted by kpitcher View Post
    There's been a lot of speculation that the dramatic bitcoin transaction volume was all a deliberate attack to raise the price of Bitcoin transaction fees. Bcash has been on the offensive about BTC's high transaction costs.
    it probably was..

    Also lots of people had monetary interests to pump alt coins by spreading FUD.

  9. #818

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    Public interest waning.

    https://www.bloomberg.com/news/artic...-since-october

    Google Searches for Bitcoin Drop to Lowest Since October

    People just aren’t that interested in Bitcoin since the digital currency’s manic price surge came to an abrupt end late last year.

    Nobody's Searching for Bitcoin Any More

    Google searches for the search term "bitcoin" at the lowest level since October

    With the largest cryptocurrency down about 40 percent from its all-time high reached in December, Google Trends data show searches are down by more than 80 percent. The last time so few people were interested, Bitcoin traded near $5,000.

    The decline in interest searches coincides with trading volume failing to recover alongside prices in February.
    Chart at link.

    https://www.investopedia.com/news/bi...e-twoyear-low/

    Bitcoin Trading Volume Plunges to Two-Year Low

    Bitcoin (BTC) had a dramatic end to 2017 and start to the new year. The top cryptocurrency in the world by market cap surged to record high prices close to $20,000 per coin in December 2017. Then it stumbled somewhat, settling down under $10,000. It has hovered in the $8,000 to $11,000 range for several weeks.

    A report by Coin Telegraph suggests that this sideways price action which has dominated much of 2018 so far may be contributing to an unusual effect for the cryptocurrency: bitcoin has had the lowest number of confirmed transactions per day since March 2016.

    Feb. 26 Marked a Two-Year Low
    BTC transactions have fallen alongside downward trends in price since the coin reached its highest level in December 2017. Since that time, as the price of bitcoin has settled down, investors seem to have lost some of the spark which drove last year's bitcoin boom.

    The lowest levels of transactions occurred on February 26, 2018, with only 180,000 confirmed BTC transactions. March 4 was only slightly better, with just 195,500 transactions taking place worldwide that day.
    Last edited by Zippyjuan; 03-06-2018 at 01:32 PM.
    Quote Originally Posted by NorthCarolinaLiberty View Post

    Half the crap I write here is just to entertain myself.
    I am Zippy and I approve of this post. But you don't have to.

  10. #819

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    Quote Originally Posted by Zippyjuan View Post
    Uhhhhh....

    Quote Originally Posted by kpitcher View Post
    There's been a lot of speculation that the dramatic bitcoin transaction volume was all a deliberate attack to raise the price of Bitcoin transaction fees. Bcash has been on the offensive about BTC's high transaction costs.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc


    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  11. #820

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    I could potentially see a drop off of bitcoin searches because it's getting more mainstream. Even the WSJ has an article or two every day. If you can't read the regular news without stumbling across something about crypto why bother searching for it
    “…let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!!” – Spartacus, War of the Damned

    BTC: 1AFbCLYU3G1dkbsSJnk3spWeEwpqYVC2Pq

  12. #821

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    Quote Originally Posted by kpitcher View Post
    I could potentially see a drop off of bitcoin searches because it's getting more mainstream. Even the WSJ has an article or two every day. If you can't read the regular news without stumbling across something about crypto why bother searching for it
    Good point... considering US and Japan GOX trustee dumped 1000s of Bitcoin in the last weeks.. market is super strong... don't forget miners who dump 12 btc every 10 minutes.

    in 2020 Bitcoin will be over 100k... Market will have absorbed all the BTC of MtGOX and reward will be down to 6 from 12

  13. #822

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    Quote Originally Posted by Mordan View Post
    Good point... considering US and Japan GOX trustee dumped 1000s of Bitcoin in the last weeks.. market is super strong... don't forget miners who dump 12 btc every 10 minutes.

    in 2020 Bitcoin will be over 100k... Market will have absorbed all the BTC of MtGOX and reward will be down to 6 from 12
    What is your reasoning behind it being 100k in roughly 2 years? It struggles to stay above $10k and routinely shears the sheep that listen to y'alls "BUY NOW BUY NOW" posts when it ticks up a little bit. How's that Swiss banker workin out for ya?

    I think in 2 years bitcoin will be the Myspace of social media and probably nearly worthless, having served its original purpose of introducing the sheep to blockchain. The official blockchain solutions will have been released (fully controlled, of course) by then.
    Last edited by devil21; 03-07-2018 at 11:20 AM.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    Visiting the Outer Banks of NC?
    Outer Banks NC House Boat Rentals

  14. #823

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    Quote Originally Posted by devil21 View Post
    What is your reasoning behind it being 100k in roughly 2 years?
    Longterm trends?
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc


    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  15. #824

    Default

    Quote Originally Posted by dannno View Post
    Longterm trends?
    Is that a question? Or is that your answer?

    If it's your answer, answering it with a "?" at the end doesn't instill much confidence in your answer.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    Visiting the Outer Banks of NC?
    Outer Banks NC House Boat Rentals

  16. #825

    Default

    Quote Originally Posted by devil21 View Post
    Is that a question? Or is that your answer?

    If it's your answer, answering it with a "?" at the end doesn't instill much confidence in your answer.
    I'm not Mordan, I'm just taking a stab at what his reasoning might be.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc


    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  17. #826

    Default

    Quote Originally Posted by dannno View Post
    Longterm trends?
    Stocks up: A bubble. Has to pop any day now.

    Bitcoin up: can never go down. Infinity and beyond!
    Quote Originally Posted by NorthCarolinaLiberty View Post

    Half the crap I write here is just to entertain myself.
    I am Zippy and I approve of this post. But you don't have to.

  18. #827

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    What if the value of bitcoin becomes that of beanie babies today? Many feel it's headed that way: https://www.pcmag.com/commentary/358...-beanie-babies

    I will admit I've been tempted to invest in it, but just can't. It's still possible to make something, but I'm a little too late to the game for the the big payoffs. While the stock market isn't immune to risk, I have more trust in my investments there than bitcoin.

  19. #828

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    Beanie Babies weren't platform'd on one of most revolutionary systems in modern history

  20. #829

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    Saw a post on a different site mentioning 40,000 Bitcoin dumped into market by Mt. Gox associate during past 2-3 months

  21. #830

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    Quote Originally Posted by Dark_Horse_Rider View Post
    Saw a post on a different site mentioning 40,000 Bitcoin dumped into market by Mt. Gox associate during past 2-3 months
    Does that mean all the coins that they stole (and were likely used to manipulate the market) are now being quietly dumped back onto the market? Sounds very, very bearish for bitcoin.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    Visiting the Outer Banks of NC?
    Outer Banks NC House Boat Rentals

  22. #831

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    Reddit had article by a user riverflop

    stated that a trustee of Mt Gox, had sold several thousand at a time and showed a chart that illustrated major dips after each selloff

  23. #832

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    Quote Originally Posted by Dark_Horse_Rider View Post
    Reddit had article by a user riverflop

    stated that a trustee of Mt Gox, had sold several thousand at a time and showed a chart that illustrated major dips after each selloff
    Maybe he should give me my half bitcoin back.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc


    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  24. #833

    Default

    Quote Originally Posted by Dark_Horse_Rider View Post
    Saw a post on a different site mentioning 40,000 Bitcoin dumped into market by Mt. Gox associate during past 2-3 months
    Link: http://fortune.com/2018/03/07/nobuak...sells-bitcoin/

    Bitcoin's Famed Tokyo Whale Sold $400 Million and He's Not Done Yet

    He’s not your typical Bitcoin whale, but Nobuaki Kobayashi has become a force to be reckoned with in the cryptocurrency world.

    The Tokyo attorney and bankruptcy trustee for the now-defunct Mt. Gox exchange disclosed on Wednesday that he sold about $400 million worth of Bitcoin and Bitcoin Cash since late September. Kobayashi is sitting on another $1.9 billion of the tokens and will consider offloading those too as he raises cash to distribute to Mt. Gox’s creditors.

    Once the world’s biggest Bitcoin exchange, Mt. Gox filed for bankruptcy protection four years ago after disclosing that it lost 850,000 Bitcoins, then worth about $500 million. The company, which later said it recovered about 200,000 Bitcoins, blamed hackers for the loss.

    While Kobayashi didn’t provide details on his strategy for offloading the coins, he said he tried to get “as high a price as possible.” Disclosures in his report on the Mt. Gox website suggest his Bitcoin sales since September fetched the equivalent of $10,105 on average. The cryptocurrency was trading at $10,554 as of 10:17 a.m. London time on Wednesday.
    showed a chart that illustrated major dips after each selloff
    Bitcoin market is small enough one big trader can have a huge impact on its price.
    Quote Originally Posted by NorthCarolinaLiberty View Post

    Half the crap I write here is just to entertain myself.
    I am Zippy and I approve of this post. But you don't have to.

  25. #834

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    with an anomaly like Mt Gox. . .

    . . .but we all know what one person in charge of a printing press at the Fed can do. . .

    seems there are plenty of folks willing to take their chances on Crypto

  26. #835

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    lol half of the people here are clueless.

    it feels so good understanding and knowing what's going on.

    MtGox Trustee eventually dumping his coins to pay claims in YEN is extremely bullish news with a short term bearish fud crash.

    Gox's ghost is at last going to die. Remaining BTC will not be sold. They will be given to shareholders OR to the civil rehab (which I hope)

  27. #836

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    Lil Windex drops BitCoin music video.

    Quote Originally Posted by NorthCarolinaLiberty View Post

    Half the crap I write here is just to entertain myself.
    I am Zippy and I approve of this post. But you don't have to.

  28. #837

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    Quote Originally Posted by Mordan View Post
    lol half of the people here are clueless.

    it feels so good understanding and knowing what's going on.

    MtGox Trustee eventually dumping his coins to pay claims in YEN is extremely bullish news with a short term bearish fud crash.

    Gox's ghost is at last going to die. Remaining BTC will not be sold. They will be given to shareholders OR to the civil rehab (which I hope)
    How is it bullish when every time the trustee sold thousands of coins it tanked the market for which it has not bounced back?

  29. #838

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    Quote Originally Posted by kahless View Post
    How is it bullish when every time the trustee sold thousands of coins it tanked the market for which it has not bounced back?
    It's not and Mordan knows it. He should have been banned long ago for being a foreign pump and dump scammer trying to bilk people with his bad english pumper bull$#@!.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    Visiting the Outer Banks of NC?
    Outer Banks NC House Boat Rentals

  30. #839

  31. #840

    Default

    Quote Originally Posted by anaconda View Post
    $8,656
    Only a $2000 decline in one week.
    Quote Originally Posted by NorthCarolinaLiberty View Post

    Half the crap I write here is just to entertain myself.
    I am Zippy and I approve of this post. But you don't have to.

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