patrick.net

While the election shitshow is dominating the news Bitcoin is close to 15k per coin

G36 says

While the election shitshow is dominating the news Bitcoin is close to 15k per coin

Is "technical analisys" a thing in the crypto world? All these "candles", "support levels", etc.

Seems to be the perfect place for it, because, unlike stocks, there is literally nothing else to analyze. =))

My current targets for BTC is $16,800+/-, a retest then onward to $24,000, interesting to me is my best guess target for XAU atm is $2400, then re-evaluate the situation at that time. BTC/ Gold ratio 1/10. In the meantime watch for reaction at 15200 for price to blow through and race to $16800 or a retest back to $14000. 2 Situations are sitting on the table

1. The F. Res. stating more $$$ pumping today. https://www.federalreserve.gov/newsevents/pressreleases/monetary20200916a.htm https://www.federalreserve.gov/live-broadcast.htm

2. The Office of the Comptroller of the Currency (the OCC) issued an Interpretive Letter 1170, Authority of a National Bank to Provide Cryptocurrency Custody Services for Customers. https://www.occ.gov/topics/charters-and-licensing/interpretations-and-actions/2020/int1170.pdf

Not to mention this little gem I shared https://patrick.net/post/1336257/2020-11-03-banking-for-all-act-#commentform

I love to see the digital/crypto currency deniers ramblings. I hlmao

Thank you Cash! Very interesting perspective and info.

just cracked 15k.....

G36 says

just cracked 15k.....

Shall I take it as a "no" on the technical analysis in the crypto world?

FuckCCP89 says

G36 says

just cracked 15k.....

Shall I take it as a "no" on the technical analysis in the crypto world?

First off, great name! FuckCCP

To be honest, i dont know much about TA and how you can apply traditional TA to a speculative asset like Bitcoin. I am sure there are people who would disagree. I am not the guy to ask though. I just want to buy and hold - no interest in trading. I see Bitcoin as digital gold.

FuckCCP89 says

Shall I take it as a "no" on the technical analysis in the crypto world?

It can be charted and weighted like any market. https://invst.ly/sq9vs
For me I would wait to see how 15250+/- is approached after the Fed. speaks.... Perhaps there is a pullback which could be as little as $14800+/- or even as much as $14,000.
The market sweet spot is basically over however with the F. R.'s activities traders are likely waiting to see what is said.

1 other thought to keep in mind is if Biden gets 270 E. V. https://www.google.com/search?q=electorial+vote+count&oq=electorial+vote+count&aqs=chrome..69i57j0i10i131i433l3j0i3i10l3j0i131i433.7199j0j7&sourceid=chrome&ie=UTF-8

For some, like it or not crypto flies and possibly the USD while ppl are trying to escape lol
Not to mention take a look at XAU XAG

Keep in mind that BTC is stand-alone and the crypto standard as it were, so what that means is you will find a different price for BTC on every exchange
none will be the same.... The mechanics for the disparity in prices is it basically comes down to volume, how many traders are on each independent exchange and how much $$$ are they ponying up determines the quote per that exchange...
https://www.investing.com/crypto/bitcoin/markets

Cash says

BTC is stand-alone and the crypto standard

As it is valued in fiat currency Bitcoin, and all of the other crypto-currencies, have no intrinsic value. You can buy crypto with dollars, rubles, or marks. You can sell crypto for fiat and use the cash to buy stuff but crypto-currency does not stand alone. It requires massive amounts of energy to maintain and depends on the next greatest fool to increase in value.

Bitcoin is a Ponzi scheme. Don't be the last greatest fool.

bitcoin+intrinsic+value
https://kraken.docsend.com/view/ehvdmebb8gkveecj?utm_source=content+announcement&utm_medium=email&utm_campaign=bitcoin+intrinsic+value&utm_content=content+link

Onvacation says

crypto-currency does not stand alone

In fact it does in the same manner the USD does.... You are not addressing the context of this discussion, instead of educating yourself and sharing value it's much easier for you and other to share your complete ignorance of the subject.

Onvacation, in what assets do you invest your fiat in?

in•trin•sic ĭn-trĭn′zĭk, -sĭk►
adj. Of or relating to the essential nature of a thing; inherent

That's all I'm saying. Fiat currencies have no value other than the good faith and credit of the governments that issue them. Crypto is valued in fiat currencies.

HODL'ers have to sell someday or all they have is a flash drive full of 0's and 1's.

G36 says

Onvacation, in what assets do you invest your fiat in?

Mostly food and entertainment. I gave up hookers and blow many years ago.

Onvacation says

G36 says

Onvacation, in what assets do you invest your fiat in?

Mostly food and entertainment. I gave up hookers and blow many years ago.

No stocks, gold, silver, real estate?

Cash says

complete ignorance of the subject.

Are you saying that the blockchain doesn't require massive amounts of energy to maintain?

Why is crypto a currency if hardly anyone buys stuff with it?

Onvacation says

Bitcoin is a Ponzi scheme. Don't be the last greatest fool.

Your comments on the subject reminds me of some others on this forum. Seemingly always coming from a place of jealousy of not jumping into the game?

Cash says

Onvacation says

Bitcoin is a Ponzi scheme. Don't be the last greatest fool.

Your comments on the subject reminds me of some others on this forum. Seemingly always coming from a place of jealousy of not jumping into the game?

And you remind of a certain characterCash says

Onvacation says

Bitcoin is a Ponzi scheme. Don't be the last greatest fool.

Your comments on the subject reminds me of some others on this forum. Seemingly always coming from a place of jealousy of not jumping into the game?

... or just not buying all the FOMO crap.

Cash says

Onvacation says

Bitcoin is a Ponzi scheme. Don't be the last greatest fool.

Your comments on the subject reminds me of some others on this forum. Seemingly always coming from a place of jealousy of not jumping into the game?

Not suffering from FOMO != being jealous.

G36 says

No stocks, gold, silver, real estate?

Now those are real and don't depend on the next greatest fool to profit on them. Well maybe they do, but they are real and in the case of stocks represent real companies that produce real stuff (usually). Real estate, gold, and silver "stand alone" and have obvious uses; intrinsic value. Bitcoin has no intrinsic value.

Onvacation says

Why is crypto a currency if hardly anyone buys stuff with it?

Like I say you are totally ignorant on the subject you really should leave it alone, you don't know how bad the ignorance of your comments makes you look .... Fact

Cash says

place of jealousy

Over a flash drive and paper value? No.

Cash says

Onvacation says

Why is crypto a currency if hardly anyone buys stuff with it?

Like I say you are totally ignorant on the subject you really should leave it alone, you don't know how bad your ignorance of your comments makes you look .... Fact

"You're bitter because you don't understand the technology!"

Cash says

FuckCCP89 says

Not suffering from FOMO != being jealous.

Right, keep telling yourself that if it makes you feel better about missing out.... Was it a FOMO when you could of bought at .10, 100, 1000 even 10000 you could of sold for a 50% gain today. I will FOMO all over that all day long lmao

Newbie123, why did you change your handle?

Cash says

Your comments on the subject reminds me of some others on this forum. Seemingly always coming from a place of jealousy of not jumping into the game?

Chasing luck can work. Have fun. Just know what you’re dealing with. On target to retire very well by 47 once the kids are out. Not gonna risk it playing with made up money and I don’t like trading. I’ll take my consistent tax deferred returns and dividends for the next decade and move down to the Caribbean. Start early instead of chasing get rich quick schemes. Always ends bad for 99%.

Was it a FOMO when you could of bought at .10, 100, 1000 even 10000 you could of sold for a 50% gain today. I will FOMO all over that all day long lmao

Crypto is valued in fiat and has no value outside of trading in the hope that some "greater fool" will pay more fiat for it in the future. If I am wrong and crypto investors are not counting on the price of bitcoin to increase in terms of fiat, what are you "investing" in?

If (when) the fiat money systems fail, gold, silver, and real estate will still have value. Bitcoin will not.

Cash says

Was it a FOMO when you could of bought at .10, 100, 1000 even 10000 you could of sold for a 50% gain today. I will FOMO all over that all day long lmao

And you'll disappear when it crashes again and will come back when (and if) it goes up.

Onvacation says

Crypto is valued in fiat and has no value outside of trading in the hope that some "greater fool" will pay more fiat for it in the future. If I am wrong and crypto investors are not counting on the price of bitcoin to increase in terms of fiat, what are you "investing" in?

If (when) the fiat money systems fail, gold, silver, and real estate will still have value. Bitcoin will not.

Why don't you deniers ever stay in context?

Cash says

Onvacation says

Crypto is valued in fiat and has no value outside of trading in the hope that some "greater fool" will pay more fiat for it in the future. If I am wrong and crypto investors are not counting on the price of bitcoin to increase in terms of fiat, what are you "investing" in?

If (when) the fiat money systems fail, gold, silver, and real estate will still have value. Bitcoin will not.

Why don't you deniers ever stay in context?

Because you, fanbois, never post screenshots of your spectacular winnings.

FuckCCP89 says

Because you, fanbois, never post screenshots of your spectacular winnings.

Why post what is self evident? lmao Just look at a chart you lazy fucks

FuckCCP89 says

Because you, fanbois, never post screenshots of your spectacular winnings.

What a idiot reason for lacking valid knowledge of the facts....

Cash says

Why don't you deniers ever stay in context?

What has been denied? I could go out and buy a piece of land and find out it has $100M worth or oil or nat. gas. While the land has value regardless, what if there's no resource or it's less than what I paid? Hoping for a huge windfall on something unknown is retarded. I don't think anyone on this forum has wished the crypto people ill will, but you literally have no clue what crypto is and who's holding it. And for that reason, I'm out. I'll take the mostly known over the completely made up.

WookieMan says

What has been denied?

That you and the rest of your gang need to get a little education so you can compare apples to apples and not the turds of ignorance you all throw...

Cash says

FuckCCP89 says

Because you, fanbois, never post screenshots of your spectacular winnings.

What a idiot reason for lacking valid knowledge of the facts....

Fact-shmacts, knowledge-shnowledge: SHOW ME THE FUCKING MONEY!

Money talks, bullshit walks.

Screenshots or GTFO!

Onvacation says

G36 says

No stocks, gold, silver, real estate?

Now those are real and don't depend on the next greatest fool to profit on them. Well maybe they do, but they are real and in the case of stocks represent real companies that produce real stuff (usually). Real estate, gold, and silver "stand alone" and have obvious uses; intrinsic value. Bitcoin has no intrinsic value.

Onvacation, So which one of those real ones do you invest in?

You guys never have the ability to stay in context with what is being shared your concepts are so dated, this isn't the 1970 lmao