Search results

Most of the shorting is done on BitMEX, which is a derivatives exchange, so it doesn't touch the actual asset; just facilitates bets on price and matches traders with each other. To short there is to be matched with somebody who wants to long. There are exchanges where you can loan BTC to...

Sigh. When I said 'short term' in my post above yours, I meant brief in time, not short selling. In my post yesterday, I mentioned that I shorted bitcoin, which is to bet on a price decline, which I did briefly after I ended by long as it became obvious that the rally was failing

Apparently I shouldn't have mentioned it since people still don't understand that it was meant to be a short term trade. (hours) Trader sentiment is a factor price movements. Particularly in bitcoin, which is a small community compared to traditional assets, with a younger audience. Nerds who...

So when traders are all talking about 8k on social media, and there is a mountain of buy orders at 8k, and the price just fell considerably, my thinking that there is a better than 50/50 odds of a lot of buying at that price level is equivalent to the gambler's fallacy? I'm going to have to...

I think there is some confusion since I didn't explain that the futures contracts on BitMEX settle in BTC, not dollars. So when I say I'll buy at 3k with USD, it doesn't mean I'm not currently already holding BTC and I'll be opening longs around 5k using my existing BTC equity which I will...

Huh? I made several hundred dollars worth of BTC yesterday

Lots of salt here. One reason I haven't been posting much here in recent years I think the naysayers equate Bitcoin with traditional assets far too much. The reason why I'm nowhere near rich or retirement even when I bought my first coins years ago is because I spent very little on it to...

We are now at mid November levels. The horror 5k is mid October level 3k is mid September level I'll buy with USD again at 3k, but I really doubt it drops that far

I'm not changing my story at all. I said it would bounce at 7.8-8k, and it did. I said that I would only hold it if it rallied hard, and it did not. It's not unusual for derivatives traders to hold a position for hours or even minutes or seconds in crazy moments. Failing to survive 8k again...

Price bounced at 7.8 as expected. Made profit from it but sold it too late, so not much. Got frustrated and opened a short afterward, which was more profitable. Shorts are safer than longs in this bear jamboree. Get ready to buy lots at 5k if it makes it there

Actually there are two large buy walls: one at 8k, and one at 7.8k. I'm betting on a strong bounce 7.8-8k. I'm guessing that traders are letting this fall until then to get in lower. We'll see

Honestly I treat this like another game. I've already sold way way more than I've invested, USD wise. BitMEX is kind of addictive. I certainly hope nobody is betting the farm on anything I say here. It's fun to make money playing a game. Selling EQ gear didn't pay this well.

OK, you could say I use a tiny amount of it then if you want to be pedantic about it. I certainly roll my eyes at the triangles and dead cat talk though, and I'm not drawing lines on candles. All one has to do is look at the depth chart right now to see how much humans like round numbers. The...

I don't use TA, which I also believe to be 90% bullshit. I would however say that there is some merit to the resistance/support methodology for the simple reason that humans like round numbers; compounded by traders acting in unison by their own independent conclusions in a self fulfilling...

Triple top at 9.5k followed by whale dumps in a market already very skittish. Bulls are unusually traumatized after last month's bloodbath. Not at all confident that 7.5k was the bottom anymore. My longs are all closed and I'll reopen them lower since I'm intent on losing all my money. Edit...

I at least wager considerable amounts of money on my predictions. It's easy to be a naysayer while wagering nothing. Open a short position if you're so certain

I wrote that 5 hours before the price spiked upward 17% in the span of an hour after some whales did some massive market buys. Also I wrote this two weeks ago: What the price did: all exchanges except Bitfinex (the largest) went down to 7.5 or so, and as soon as Bitfinex went under 8k, boom...

Bitcoins/Litecoins/Virtual Currencies Bitcoin will really start to get fun when anybody can receive micropayments of a fraction of cent and fully automate payments for online services without any middle man after setting up operations for new services overnight. If content creators could get...

Why do people who don't bother to read about the tech chime in about how bitcoin is toy fake money that offers nothing of value every time it crashes? Most believers started out as skeptics before learning about it. It's not even anonymous because it's a public ledger and the IRS is...

Not gonna lie. I lost non-trivial amounts of BTC. Although I had long since sold more than I had bought with USD. I did a tiny short on ETH at 0.12 though and exited at 0.116 an hour later. Felt good to short the world computer and profit. Was easy money; should have shorted more. Going...

Bitcoin fees now at 5 cents and Samsung about to sell mining hardware

Bitcoin transaction fees right now are roughly 25 cents for non-SegWit transactions. SegWit TXs would of course be much lower still.

Looks like somebody didn't read more than a page back. ETH is great if you don't mind transactions failing, less privacy, higher fees than Litecoin, more centralized control, a presaled coin, a network about to upend its entire security model to a highly experimental one, and nodes failing...

Number of transactions indicates use/adoption, so that's not stupid, but it's one indicator among many and you have to understand that not all transactions are equal. With lightning networks, it's much harder to gauge TX rate since it's so private (I assume). People just started to buy stuff...

Haha. I love how Monero's devs shit on Ether all the time

Backed by IBM? And Bitcoin is the dinosaur? Can't tell if trolling. I actually had some Stellar. I did the air drop last summer and held it until December. Sold it because Bittrex was stealing money (including mine) by demanding KYC and disabling withdrawals without warning so I moved all...

I'm also fairly significantly long at this point. Money, mouth etc. Unfortunately I had a position at 13.5k already for the past month and that was using up much of my equity. If it drops to a new bottom again, I expect heavy buy pressure at 8k since that's the number I see traders throwing...

The price is now where it was two months ago. Bitcoin has tremendous value as a 'new asset class' as enthusiasts like to say. It has properties that nothing else has, so direct comparisons cannot be made. You can easily argue that it's not worth X or Y dollars per coin, but you can't argue...

So in other words, they decided to-- instead of destroy it-- began to simply buy it like everybody else on a level playing field, which encourages them to lobby in favor of it instead of against it; meanwhile bitcoin maintains its decentralized and open nature. Sounds like great news to me. If...

Today I learned that Coinbase doesn't even do batch processing of transactions. Amazing. For those unaware: Bitcoin has a feature in the protocol that allows senders to send coins to multiple receivers in one transaction. This is why Poloniex withdrawals were only 0.0001 btc until a couple...

Well, 'handing the keys' (your phrase) would apply more to Ripple than it would to bitcoin because Ripple is more centralized/controlled. Long term I think Lightning networks will be the winner. Lightning solves the high fees problem/allows microtransactions; it solves the block time wait...

I think in the long term, banks will evolve into only being lenders, and people will use either bitcoin or its successor to store money securely and transmit it instead of banks. Why would banks 'hand over the keys' to Ripple instead of a decentralized, trustless platform? Not all financial...

That's because the entire point of crypto is to decentralize, and corporations are the most centralized and totalitarian organizations on earth

99% of people in crypto space have regrets

That's not true unless you exclude ripple: Cryptocurrency charts - Market Capitalization, Transactions last 24h, Avg. transaction value, Active Addresses last 24h ... Also Ethereum handles far less in terms of value. Using bitcoin, if you pay a high enough of a fee, you can be confident that...

Why does Ethereum function as money better than every other coin? Litecoin is cheaper to use and doesn't have transactions failing. Ethereum still has plenty of reliability issues. It's choking on the congestion. I read this today: The Challenges of Building Ethereum Infrastructure – Jameson...

Two things to remember: 1) Ethereum was created to facilitate smart contracts, and is not focused on being money. I would argue that the overall winner will likely be a token focused on being money first. 2) Even if Vitalik pulls miracles out of his ass, it's open source code and any...

Ether having a good night. I saw this before, last summer. That's when I sold it. It's still only half way to where it was 6 months ago. Most of that other 66% is dispersed among many alts, not just one or two. Just saw that edited in tweet pic. My response is that bitcoin has high fees...

Since I've told people to install Electrum, I'm going to warn people: There is a severe vulnerability in Electrum that allows malicious websites to steal your wallet seed by merely running Javascript in your browser. If you have Electrum running, close it immediately and update the software to...

Ethereum makes a lot of promises. The only reason why it's taken so seriously by other devs is because Vitalik really is extremely bright. Ethereum is significantly more experimental than Bitcoin is. I would strongly advise not being 100% in Ether. ETH's reddit started sounding like a...