patrick.net

Cash says

Why do you come running when you see BITCION in the subject
you can't help yourself?

It's at the top of the page... lol. I like reading. But when the content of all the crypto threads is the exact same they become a nuisance. It's spam. I get hopeful that there might be an intelligent conversation about crypto and then find out it's pure rubbish.

Cash says

You must think someone cares about what you have to think

Nah, I like to have productive conversations. Multiple users point out the flaws with crypto and you guys get suuuuuuuper defensive. It's weird. Case in point with this thread. Undeniable from any perspective. At some point we become skeptics when we don't get countered with anything logical. Maybe it looks trollish, but so does posting multiple threads pumping crypto that has been around forever at this point and nobody is into it. It's a fringe market.

G36 says

lol, looks like I got my first ignore....wonder if its Wookie who followed my advice. Can you see who ignores you?

I don't ignore users. Any that I have were verifiable bots. I don't think I've done one in years as Patrick has made it more difficult for them to post.

Sorry guys, but any crypto conversation that is negative, you shoot it down by default. And that's it. You don't have an actual stance or reason why what was said is wrong. This is a fact. I honestly hope you guys don't learn the hard way and have made money up to this point. But your responses unfortunately show that you're going to get burned at some point in the future. I wish y'all luck as I've said before. We don't have to agree, but you're ignoring a whole bunch of warning signs and attacking the messengers of those warnings.

WookieMan says

>
It's at the top of the page... lol. I like reading.

not if its bullish crypto news thought, right? Thats pumping, spaming, etc.

Did you read any of the articles?

https://blockchain.news/news/billionaire-stan-druckenmiller-bitcoin-gold-btc-risk-return
https://markets.businessinsider.com/currencies/news/bitcoin-price-legendary-investor-bill-miller-resilience-better-every-day-2020-11-1029776469

and the one that talks about the second largest bank getting involved with bitcoin?

G36 says

WookieMan says

>
It's at the top of the page... lol. I like reading.

not if its bullish crypto news thought, right? Thats pumping, spaming, etc.

Did you read any of the articles?

https://blockchain.news/news/billionaire-stan-druckenmiller-bitcoin-gold-btc-risk-return
https://markets.businessinsider.com/currencies/news/bitcoin-price-legendary-investor-bill-miller-resilience-better-every-day-2020-11-1029776469

and the one that talks about the second largest bank getting involved with bitcoin?

If you had say $100M of OPM, would you use it to try and move a market to your advantage? That's what you are explaining here. (didn't read the link, but I know what it is) If you can buy in and move the market even 1%, you stand to make millions by entering and exiting the market by simply clicking a button. That's the market you're playing with.

A company like Amazon has millions if not billions of prime real estate locked up. That's an asset. They have to report what they're doing. Who owns how much stock for the people running the company. Types of investors. Profit and loss. And dozens of other metrics that make you understand what you're buying into.

There is no value proposition for BTC besides fake scarcity. I don't have the cash to move the market, so I'm trying to catch a falling knife. That's about as true as it gets and why I don't put any money into it. Trade it, but it's not an investment like a corporation, real estate or other tangible asset. It's a penny stock. You can make money off penny stocks, but they eventually fail. I'll take my mostly guaranteed gains instead of gambling. I'll take a proven strategy that has worked for me quite well over the last 15 years.

G36 says

Did you read any of the articles?

Not 1 I am sure, presumptions disallow any effort on their part.

Cash says

G36 says

Did you read any of the articles?

Not 1 I am sure, presumptions disallow any effort on their part.

Presumptions? You don't think a billionaire can move your market up or down? It's not a promising story if you're holding money in BTC. They can lose millions in a minute like you losing $100 and get over it pretty quickly. When you play with people like that and you're not at their level, you're screwed. You will lose.

‘Stealth phase’ over? Why Wall Street FOMO will make $20K Bitcoin look cheap
https://cointelegraph.com/news/stealth-phase-over-why-wall-street-fomo-will-make-20k-bitcoin-look-cheap
The price of Bitcoin is up 125% year-to-date, making it once again the best-performing asset just as it has been for the past decade.

Wall Street’s Fidelity Mounts Defense For Bitcoin
In a bid to promote Bitcoin as a viable asset, Fidelity published a six-pronged response to most common criticisms.
https://www.fidelitydigitalassets.com/articles/addressing-bitcoin-criticisms?ccmedia=owned&ccchannel=social&cccampaign=bitcoin_myth_blog&cctactics=Twitterr

Cash says

G36 says

Did you read any of the articles?

Not 1 I am sure, presumptions disallow any effort on their part.

What I am thinking. These guys are just like the haters on other sites. The minute crypto corrects they come out and celebrate. And while Bitcoin is going up, its bashing and misinformation all day long and the hope that it goes to zero.

The only "Low" that Bitcoin has on the comparison to Gold and Fiat is "Government issued". I can live with that. I would NOT want to invest in Bitcoin if a government would be behind it.
That's the entire reason for Bitcoin being so popular and successful. Its decentralized and scarce.





sry gold bugs, gold has the most "lows" on this comparison. I personally dont have anything against gold. Gold just doesnt have the same potential as Bitcoin and obviously Bitcoin has the better traits.

A must read:

https://news.bitcoin.com/hedge-fund-manager-brian-kelly-says-increasing-institutional-interest-in-bitcoin-down-to-its-fixed-supply/

"Hedge fund manager Brian Kelly says the surging number of institutional investors owning bitcoin is down to the digital currency’s core value proposition- a fixed coin supply. On the other hand, the same institutional investor interest is helping to build confidence in the top cryptocurrency while taking away some of the perceived risks."

"Bitcoin vs Gold
Bitcoin, which trades above $16,150 at the time of writing, has a total market value of over $300 billion. In contrast, the total value of known gold stocks is $9 trillion, a figure that dwarfs bitcoin’s total market value several times over."

$9 Trillion market cap for Gold, 300B for Bitcoin. That to me is incredibly bullish for Bitcoin. Bitcoin is viewed as digital gold.

G36 says

That's the entire reason for Bitcoin being so popular and successful. Its decentralized and scarce

it still has the problem of
- most people don't understand it (including me)
- it's value is questionable because you can't buy anything with it in most places.
- volatility is out of this world

Great points FortWayne,

think of Bitcoin as digital gold. In case you have some questions or if something confuses you, don't hesitate to ask. I can probably answer some of the questions and google the other ones.

When you look at the comparison chart it shows Bitcoin's traits compared to Gold and Fiat. Its not meant for day-to-day purchases. Its viewed as digital gold. You wouldnt want to use your gold brick at home to buy a starbucks coffee either. The term digital gold really upsets gold bugs. So be aware.

Volatility is probably my favorite thing about Bitcoin.
If you invest in holding dollars in your back account you lose purchasing power.
If you invest in gold you have shiny things to look at. Yeeah!
And if you speculate with Bitcoin your holdings might increase in value tremendously.

FortWayneAsNancyPelosiHaircut says

- most people don't understand it (including me)

Wait till the Treasury has direct access to your banking accounts and how it progresses once they do. I believe lots of people will be motivated to apply some effort to understand how and why crypto will be extremely beneficial https://www.congress.gov/116/bills/s3571/BILLS-116s3571is.xml

FortWayneAsNancyPelosiHaircut says

- it's value is questionable because you can't buy anything with it in most places.

You can actually buy most anything you wish even https://bitcoin-realestate.com/ How Many Businesses Accept Bitcoin? The Bottom Line https://www.fundera.com/resources/how-many-businesses-accept-bitcoin It’s easy to assume that you can only buy computer repairs or software with bitcoin. But this master list of all the US businesses that accept bitcoin proves otherwise. Whether you want to buy alpaca socks in Massachusetts, spring for hypnosis in California, or donate to a church in Kentucky, you can make all of these eclectic transactions with bitcoin.

FortWayneAsNancyPelosiHaircut says

- volatility is out of this world

I agree with G36 G36 says

And if you speculate with Bitcoin your holdings might increase in value tremendously.

Especially since in reality crypto is very much in it's infancy and major players are now more then comfortable getting into the game and many for the reason of security and store of value.

Cash says

Wait till the Treasury has direct access to your banking accounts and how it progresses once they do.

Lol... they already do through wage garnishments. And if they think you have something of value they can get a search warrant and grab all your data and know you traded crypto. It's too late man. You'd go to court and withhold your key and password and guess what, you'd be held for perjury and thrown in jail for not complying. They'd take gold too if you had it. Government gets what they want if they want it. Which is kind of amazing that Trump has lasted this long.

Either way, if it gets to that level it's highly likely public internet is shut down. If you cannot transfer it to someone else, it's worthless. All governments know this and have the ability to do so. That's why they allow it to go on and then tax you for your gains. They can shut the flow/transfer off tomorrow because "Covid."

Food, guns and water are more valuable if shit gets nasty. Staying alive is the name of the game and trying to connect to the internet to give some hill billy crypto while he's point a gun to your head and has no idea what the fuck crypto is, by default makes it worthless. You'll just be shot because you have a worthless Seagate hard drive. This is the reality.

Have fun and trade it all day. Make money. Just know what it is and stop getting so uptight when someone tells you what it is.

Cash a great point. If you hold your private keys by storing Crypto on a cold storage/hardware wallet, nobody can touch that. One of many advantages that crypto has over fiat.

To bring this into a scenario where you have chaos and unrest across the nation in which money doesnt matter anymore because power is replaced by whoever has more ammo is Sci-Fi. I don't believe this will happen anytime soon in the US. Surely fearmongers will disagree.

https://www.forbes.com/sites/michaeldelcastillo/2020/08/06/valuable-sec-data-on-20-institutional-bitcoin-investors-could-soon-disappear/?sh=462783841de2

20 Institutional Bitcoin Investors Revealed

Bitcoin’s Price Could Surpass $300,000 by December 2021, Says Citibank Exec
https://www.cryptoglobe.com/latest/2020/11/bitcoins-price-could-surpass-300000-by-december-2021-says-citibank-exec/
When the criminals speak listen lmhao They make it happen

And 2 million are going GOING to die from covid.

SHUT THE COUNTRY DOWN!

Onvacation says

And 2 million are going GOING to die from covid.

SHUT THE COUNTRY DOWN!

I've never believed the covid fearmongering.

But, the bullish news about Bitcoin is very believable/real to me. Its incredible that banks are now all in on Bitcoin. The market cap of Bitcoin is only 200B. Gold is a 9 trillion market. Think about the potential. I could easily see a 300k Bitcoin by end of 2021.

Thanks for sharing this article, Cash.

"Thomas Fitzpatrick, a senior executive at the U.S.-based financial giant Citibank, has published a report claiming the price of bitcoin could surpass $300,000 by December 2021, drawing on similarities between BTC and the 1970s gold market.

In its report, Fitzpatrick pointed to bitcoin’s weekly chart and, through technical analysis of prior lows and highs, determined his price target of $318,000 by December of next year. Pointing to bitcoin’s “exponential move” from 2010 to 2011, the analyst claimed it is “very reminiscent” of the 1970s gold mark."

https://www.cryptoglobe.com/latest/2020/11/bitcoins-price-could-surpass-300000-by-december-2021-says-citibank-exec/

G36 says

I've never believed the covid fearmongering.

Scamdemic!!! Sheeple like OV along with massive monetary conflict of interest keeps the ponzi scamdemic alive. OV is backwards covid is the ponzi scheam
not BTC lmao

G36 says

"Thomas Fitzpatrick, a senior executive at the U.S.-based financial giant Citibank

He is refered to as the MOON SHOT boy..... That is way to far ahead for my system of trade, for now I am following the strength of the 4hr which is reading "strong buy" and the follow through can be seen in the Vol rising, RSI >62 and gains in the ATR. On the longer time frames things are heating up but per my analysis there is still room which I am looking to sell around the 16800/17250+/- then buy the discount. https://invst.ly/sumza

Bitcoin ‘Decoupled’ Provides Limitless Profit Potential
https://weissratings.com/articles/bitcoin-decoupled-provides-limitless-profit-potential?mkt_tok=eyJpIjoiTVRFME9XWmxaV05sWXprNCIsInQiOiJjdkM0YWkxQlkzcnNzVThjUElKT25sRUQwNDFVQUZPeE1JMEV4cVwvdlBSZU1cL2tLNDNvenFRSHdjeXVFbWxRcDZOQm8zMnhwM0REUytFblhod1FGOFBZTjFDanBmWjVtZ1dVNGVBSXgyREJnNGdLT0Q4UDhvT1g3eHdBdWVzMXBMIn0%3D

Some interesting points, 1 argument I will make is watch how BTC reacts when the USD, BTC quote currency becomes over sold DX 88+/-?.
I still have all my positions due to USD weakness. As well DJI is looking to open -300+/- down atm... I am looking for BTC to test 17250 and it's reaction compared to
what the currency and equity markets are doing at the time.

Damn even the negative is a positive.
https://www.coindesk.com/druckenmiller-bitcoin-what-he-really-said
Bitcoin has more upside because of its market inefficiencies. Let that sink in: The very characteristics that many investors have cited as barriers to investment are what a renowned investor believes will award bitcoin a better performance.

Cash, congratulations! BTC ran up to your target range.

G36 says

target range

The price point on my dial is 17282.6 a breach of that area and DX staying down I will continue to hold. https://invst.ly/sv2-k
The coins I am stacking are BTC, ETH, SNX, LINK, XTZ, XRP and ADA

Buy Crypto, All the cool kids are doing it lmhao
#InstitutionalFOMO
It will be fun to watch crypto blowing up when the public finally goes #PublicCryptoFOMO
Banks creating crypto portfolios for their customers and then holding custodial and investment rights given them due
to "hell if most will know what the hell crypto is" They just will know they need some just like some metals.... lol

Cash says

G36 says

target range

The price point on my dial is 17282.6 a breach of that area and DX staying down I will continue to hold. https://invst.ly/sv2-k
The coins I am stacking are BTC, ETH, SNX, LINK, XTZ, XRP and ADA

Thanks for sharing! Freaking exciting times for crypto!!!

17500/18000/18250 on the way? ;) Plenty of room on the 4Hr for 17500 however some consolidation is in order at that area price is coming in hot so 18ks may have to wait atm https://www.tradingview.com/x/73RQNGGZ/

Cash, have you looked into trading crypto in a retirement account to avoid the tax impact?
Often they are for accredited investors and charge significant fees.

G36 says

trading crypto in a retirement account to avoid the tax impact?

I don't believe you can, in good time I think that will be possible once the banks start to use these instruments.

too bad....as you said, Bitcoin is still in its infancy.
Crypto is going nuts this morning. Great to watch!

G36 says

Crypto is going nuts this morning. Great to watch!

https://www.tradingview.com/x/J6aWYnSB/ If price can pop above with intent 18k is a easy soft tgt.... lol

I am assuming Cash_me_out is you? i gotta start following you on tradingview
Thanks!

G36 says

I am assuming Cash_me_out is you?

Who knows ;) Just to verify I'm not cashing out just yet.

Marc Andreessen: In 20 years, we’ll talk about Bitcoin like we talk about the Internet today
https://www.washingtonpost.com/news/the-switch/wp/2014/05/21/marc-andreessen-in-20-years-well-talk-about-bitcoin-like-we-talk-about-the-internet-today/
5years later
While the Global Economy Shudders, Andreessen Horowitz 'Excited' to Invest $500M Into the Crypto Industry
https://news.bitcoin.com/while-the-global-economy-shudders-andreessen-horowitz-excited-to-invest-500m-into-the-crypto-industry/

I am absolutely amazed with this crypto run. Market cap went from 400 to 500B in just a few weeks. Institution after institution is getting in but retail is un-aware (judging by google trends). Watch this curving up when BTC hits new ATH and the media is covering it day and night. Smart money comes first, retail later....

Cash, do you know where I can follow how many Bitcoin shorts are getting liquidated?

G36 says

I am absolutely amazed with this crypto run. Market cap went from 400 to 500B in just a few weeks.

Here is another amazing statistic dealing with capitalization w/i the crypto world "DeFi"in just 5 mo the gains have been exponential with a 1300% gain and I am anticipating an easy 700/800% more before a consolidation. however I guess we will see. . https://defipulse.com/
My main Defi coins "ETH is a must have" are the SNX, Link and ADA. SNX is basically the derivative king as far as DeFi is concerned as #1 holding Dominance of
83.69% and 9th in running in the DeFi ecosystem as a whole.

As far as BTC goes if it keeps tripping on price before it hits 18000 where a big sell wall waiting I am looking at 17350 for buyers to head back in and that could cancel the sells out and bring some FOMO of every kind... This volatility is just what I and most all traders are looking for, the more violent the better ;)

Thanks Cash!

I am planning on adding to my ETH position and also starting scaling into Link.
Can you buy SNX on Binance?