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Rin's 5 min take on Bitcoin


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2021 Feb 27, 7:59pm   8,709 views  149 comments

by Rin   ➕follow (13)   💰tip   ignore  

In another thread ...

Just for some fun, I've decided to run a weekly price bar chart, with Fibonaccis on the whole thing ...



Here's the scoop, now that bigger institutes, along with the retail traders are into this speculation, there are actually trading zones for this thing because there are lots of players, not just the penny stock speculators.

So since last week's bearish candle engulfs the prior week's bullish one, we're on a retest of the price near the 0.618% Fibonacci retracement level. If that level holds, we have a bounce in place ... ready to go.

If it falls through that region w/ no intraweek support, then it falls to the next trading zone, and so on.

For this to be a bust, it needs to get back to the baseline.

I suspect that the big fish will issue a huge buyback in the 23K range, if not earlier (29K-35K). Sure, this thing may evaporate in the future if the concept of digital gold doesn't hold but between now and then, this is a trader's entity.

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38   Bitcoin   2021 Mar 2, 10:45am  

WookieMan says
I can promise that.


I know. You told us you only have 100 shares in LUV. You wont go far with that. No need to promise it.

BTW. beautiful weather here in Socal. Sorry you live in IL and have shitty weather all year. Are you depressed?
39   Bitcoin   2021 Mar 2, 10:49am  

maybe we can call it the BSDS?

40   WookieMan   2021 Mar 2, 10:55am  

G36 says
Are you depressed?

Projecting much? You can't even mention ONE place you've traveled. No evidence of anything besides a reused screenshot from someone else's account or frankly just made up. Understand that no one here takes you seriously.
41   Bitcoin   2021 Mar 2, 11:04am  

thanks for confirming! I knew we had to put a name on it! BSDS it is!

42   EBGuy   2021 Mar 2, 5:14pm  

theoakman says
Nigeria and India are trying to shut it down and it appears they are failing. The system really was an ingenious design.

I'm still trying to catch up (and am about 8 years behind the times with my questions). So every ISP could block port 8333, but then you'd just move the client over to a different port. Hmmmm...
43   WookieMan   2021 Mar 2, 5:35pm  

EBGuy says
theoakman says
Nigeria and India are trying to shut it down and it appears they are failing. The system really was an ingenious design.

I'm still trying to catch up (and am about 8 years behind the times with my questions). So every ISP could block port 8333, but then you'd just move the client over to a different port. Hmmmm...

All they have to do it make it illegal with hefty penalties or jail time. The funny part is they don't have to do that. They don't care about it and won't until some super rich guy gets burned on the pump. Then it will be consumer protection and holding or having evidence of BTC will get an immediate warrant to investigate all your electronics.

Because you trade BTC with USD, at least for most those in the states, your transaction is tracked by an exchange. Unless I trusted the person, I'm not exchanging flash drives, and either way to get what you're looking for, USD..... you have to convert it. BTC is not what is being sold and why you won't get an answer from the pumpers.

It being a "sneaky" way to transfer fake coins is of no value if you cannot convert it into usable fiat or currency. It's a video game. Not one BTC lover has been able to dispute that. I don't mind the guys that trade it, but know your risk. The game ends.
44   EBGuy   2021 Mar 2, 6:02pm  

WookieMan says
All they have to do it make it illegal with hefty penalties or jail time.

Interestingly, the US government has blacklisted a couple of Iranian bitcoin addresses. They can't block transactions to those bitcoin addresses, but the government can prosecute those individuals who transact with the blacklisted Iranian addresses (as seen on public bitcoin ledger).
45   WookieMan   2021 Mar 2, 6:20pm  

EBGuy says
WookieMan says
All they have to do it make it illegal with hefty penalties or jail time.

Interestingly, the US government has blacklisted a couple of Iranian bitcoin addresses. They can't block transactions to those bitcoin addresses, but the government can prosecute those individuals who transact with the blacklisted Iranian addresses (as seen on public bitcoin ledger).

And that will be threat enough for the average person. BTC is skyrocketing because the average person is getting fleeced by people with more money. It's a losing game. You have a guy investing $1.5B of OPM that smoked pot on a video podcast. He knows the game makers. He'll win. The average player won't. Play while you can. It's the wild west now and people made a shitload of money during that time as well.
46   Kepi   2021 Mar 2, 7:24pm  

Let's get to the bottom of this. Ronny Chieng to the rescue.

https://youtu.be/nRItzSX0aCM
47   WookieMan   2021 Mar 2, 8:01pm  

Kepi says
Let's get to the bottom of this. Ronny Chieng to the rescue.

https://youtu.be/nRItzSX0aCM

Spot on. No question is ever answered outside of those that understand trading patterns.
48   Bitcoin   2021 Mar 2, 8:34pm  

EBGuy says
They can't block transactions to those bitcoin addresses


correct. Bitcoin cant be banned and cant be hacked. They tried for over a decade. And now Tesla buys 1.5B USD worth of Bitcoin. Along with Paypal, Square, Microstrategies and hedge funds. Elected officials in the US love Bitcoin. They even created a crypto bank. To see the Bitcoin haters keep losing is entertaining but also a bit pathetic.
49   B.A.C.A.H.   2021 Mar 2, 8:58pm  

WookieMan says
G36 says
Are you depressed?

Projecting much? You can't even mention ONE place you've traveled.


I dunno about that. For a few years before he took his life, a friend of mine was doing more and more frequent leisure travel, bringing along his partner and kids.

I reckoned that he was frustrated about stuff and all that travel was to run away from what bothered him. The problem with that, is you have to return. The travel is only a temporary escape.

I knew he was frustrated, and angry, but I didn't know he was depressed. Now he's "escaped" for permanent.

So that's another way of looking at frequent travel. So without knowing more, I would not mock someone who hasn't boasted about travel.
50   WookieMan   2021 Mar 3, 4:28am  

B.A.C.A.H. says
I reckoned that he was frustrated about stuff and all that travel was to run away from what bothered him.

I understand what you're saying here. For me though it's a hobby for the wife and I. The act of researching and finding value/deals is a super fun activity for us. At the end of the tunnel is a kick ass trip after we've found ways to get free money and enjoy it in the end. It's effort/time to ultimately print money to get to go to cool places. I hate IL politics and finance, but it's actually a pretty great place to live.

The reason I always ask G is because you could just make something up. Say you drove to Vegas from Socal. There's nothing. Never answers an actual question, ever. Having played around in penny stock forums, this is what they do. Pump that stock and don't answer logical and legit questions about what they're soooooooo invested in (not).

Put it this way, I wouldn't worry about me traveling being a way to cover up depression (I'm not). I'd be more worried about people betting on spreadsheets #BTC. Money isn't everything, but they're chasing something they're deficient in, clearly. And they're afraid and run around pumping it. I don't know a single person that doesn't like travel. Most everyone I know won't touch crypto and for good reason.
51   Bitcoin   2021 Mar 3, 8:17am  

B.A.C.A.H. says
WookieMan says
G36 says
Are you depressed?

Projecting much? You can't even mention ONE place you've traveled.


I dunno about that. For a few years before he took his life, a friend of mine was doing more and more frequent leisure travel, bringing along his partner and kids.

I reckoned that he was frustrated about stuff and all that travel was to run away from what bothered him. The problem with that, is you have to return. The travel is only a temporary escape.

I knew he was frustrated, and angry, but I didn't know he was depressed. Now he's "escaped" for permanent.

So that's another way of looking at frequent travel. So without knowing more, I would not mock someone who hasn't boasted about travel.


Great post by @B.A.C.A.H.
He is spot on in regards to @WookieMan
52   WookieMan   2021 Mar 3, 9:31am  

G36 says
He is spot on in regards to

Lol. He struck a nerve with you. Good on him. I love seeing the world, meeting people and not being desperate and poor. It's a good feeling.

I've heard bike riding sponsorships can be lucrative. Lance Armstrong can tell you all about it wearing his gay spandex.
53   Bitcoin   2021 Mar 3, 10:40am  

G36 says
B.A.C.A.H. says
WookieMan says
G36 says
Are you depressed?

Projecting much? You can't even mention ONE place you've traveled.


I dunno about that. For a few years before he took his life, a friend of mine was doing more and more frequent leisure travel, bringing along his partner and kids.

I reckoned that he was frustrated about stuff and all that travel was to run away from what bothered him. The problem with that, is you have to return. The travel is only a temporary escape.

I knew he was frustrated, and angry, but I didn't know he was depressed. Now he's "escaped" for permanent.

So that's another way of looking at frequent travel. So without knowing more, I would not mock someone who hasn't boasted about trav...


Really great post! People who are depressed and hate where they live always want to get away. Problem is, they have to go back to their hole because they cant afford to move!
Sorry @WookieMan
54   Bitcoin   2021 Mar 3, 10:44am  

"temporary escape and depression", right @WookieMan?
This post hopefully helps you assess your root issue (BSDS).

The post by BACAH was so spot on, I had to screenshot it.

55   WookieMan   2021 Mar 3, 10:45am  

G36 says
People who are depressed and hate where they live

Human feces and needles are problematic. We agree!

Cornfields, good neighbors and people. I'll take it. I like travel to meet people and experience something different than doing nothing. Doing nothing isn't fun. I don't know, maybe you should take a visit to the doc?
56   Bitcoin   2021 Mar 3, 10:48am  

BACAH basically described what the sunshine derangement syndrome is all about. A temporarily escape but you have to always come back to your misery/depression (IL)
5 star post by BACAH. Hopefully it helps @WookieMan
57   WookieMan   2021 Mar 3, 10:53am  

G36 says
A temporarily escape

Nah. When you travel enough it's life. It's normal. Living in piss, shit, tent encampments and needles sounds awful. Only being able to afford a bike for entertainment also is awful. I'm actually substantially better off. It feels good. You make me laugh on a daily basis. Thanks.
58   Bitcoin   2021 Mar 3, 11:13am  

you still didnt buy any satoshis? That was a great dip and you could have gotten some satoshis under 50k! A bargain! Sorry you missed out again @WookieMan
59   B.A.C.A.H.   2021 Mar 3, 3:20pm  

WookieMan says
Nah. When you travel enough it's life. It's normal. Living in piss, shit, tent encampments and needles sounds awful. Only being able to afford a bike for entertainment also is awful. I'm actually substantially better off. It feels good. You make me laugh on a daily basis. Thanks.


There is more to the Bay Area than the Streets of San Francisco. And there is more to LA than Skid Row. Since you enjoy travel a lot, and have the moohlah for it, maybe you should come and see for yourself.

Just because G36 doesn't boast about travel doesn't mean s/he doesn't do it and enjoy it. It just means s/he doesn't boast about it. Same goes for me.

About the bike for entertainment, well, there's a lot of entertainment that's free. For example, enjoying the outdoors in the fabulous weather that G36 and I enjoy in our different parts of California.

My point was not to insinuate that you're traveling a lot because you're depressed. My point is that what pushes your button (like travel) is good for you, but maybe don't push G36's button. (Maybe travel does push G36's button, - who knows?).

I know the travel can be freaking expensive because I have done it a bit. A hobby of speculating on stuff like bitcoin online could be a whole lot less expensive. Different strokes for different folks. G36 is no less a person for not boasting about travel. You're not either for enjoying travel.

Every person is an individual with different strokes for different folks.
60   Bitcoin   2021 Mar 3, 4:15pm  

B.A.C.A.H. says

Just because G36 doesn't boast about travel doesn't mean s/he doesn't do it and enjoy it. It just means s/he doesn't boast about it. Same goes for me.


BACAH gets it! Awesome! love it! Spot on as usual!

@WookieMan, take it as a learning experience!
61   WookieMan   2021 Mar 3, 5:12pm  

B.A.C.A.H. says
Every person is an individual with different strokes for different folks.

Agreed. Doesn't change that he doesn't answer a question. Why? I think you know the answer....
62   WookieMan   2021 Mar 3, 6:15pm  

WookieMan says
B.A.C.A.H. says
Every person is an individual with different strokes for different folks.

Agreed. Doesn't change that he doesn't answer a question. Why? I think you know the answer....

Also, why live in CA? The amount of bitching here over your place of residency is staggering. I've been to many parts of CA. It's corrupt to the core. I don't need weather. I don't need oceans 24/7. Paying 30-50% more just to put food on the table is pure retardation for weather. There are better mountains. Better beaches. Less shit. Less needles.

My town has no shitty part. Almost every town/city I've been to in CA is shitty or has a shitty part to it I've experienced. When you see $600k houses that look like someone took a shit on them, you know something has failed. Everyone complains here, but it seems like no one is doing a damn thing. CA is lipstick on a pig. I guess some people enjoy that.

Unless you surf, there's zero reason to live in CA. It's only going to get worse and I think most here know it. That's why droves of people are moving to fucking Bozeman, MT. Worse weather than IL, but much better scenery than anything in CA. I'll take my gains to the bank, not have to chase get rich quick schemes and laugh all the way to the bank. Not sure how much clearer I can be on my stance. It's worked for me. I don't even have to think about crypto except for seeing spam pumpers here....
63   Bitcoin   2021 Mar 3, 7:07pm  

Bitcoin bounced off the 20DMA. if it holds there and doesnt move too much up or down I think Altcoins can rally further soon.
Missing cash's analysis. Where you at @Cash?
64   B.A.C.A.H.   2021 Mar 3, 7:15pm  

WookieMan says
Unless you surf, there's zero reason to live in CA.


Parents. Adult kids. Siblings. Nieces. Nephews. Cousins. In-Laws. A lifetime's worth of friends (those who haven't left already.)

It's family values, sir. Maybe that's not reason enough for you, but it is for me.

Besides, when the SHTF, Reno beckons.

Notice we (G36 and me) did not attack/criticize you on your commitment to live in IL? We are on Plan-A. (Plan-B being,to degrade others to elevate ourselves. We're not on Plan-B. We're on Plan-A: we do what we do without degrading others' choices).

About Bitcoin, I think I agree more with your perspective than G36's. But, I can disagree with him without getting personal. It's called civility.
65   Rin   2021 Mar 3, 7:30pm  

As far as living in a cold, or shall we say a 4 season climate, I'm the only PatNeter who's a true Massachusetts person.

I've traveled all over the world but yet, I still live in MA.

It's an area where I know ppl and for the most part, is the only place that I can really call home. In addition, it's a short 5 hr drive to Montreal, the number one hoeing destination in 'first world' North America.

Plus, Boston is the most beautiful and historic, medium size American city. SF, Philly, DC, NYC, etc, can't hold a candle against it.
66   Bitcoin   2021 Mar 3, 9:22pm  

B.A.C.A.H. says
WookieMan says
Unless you surf, there's zero reason to live in CA.


Parents. Adult kids. Siblings. Nieces. Nephews. Cousins. In-Laws. A lifetime's worth of friends (those who haven't left already.)

It's family values, sir. Maybe that's not reason enough for you, but it is for me.

Besides, when the SHTF, Reno beckons.

Notice we (G36 and me) did not attack/criticize you on your commitment to live in IL? We are on Plan-A. (Plan-B being,to degrade others to elevate ourselves. We're not on Plan-B. We're on Plan-A: we do what we do without degrading others' choices).

About Bitcoin, I think I agree more with your perspective than G36's. But, I can disagree with him without getting personal. It's called civility.


Another killer post by @B.A.C.A.H.
nice work!
67   WookieMan   2021 Mar 4, 6:44am  

B.A.C.A.H. says
Notice we (G36 and me) did not attack/criticize you on your commitment to live in IL?

You haven't. G post personal post about me living in IL in almost every comment he makes. Just look at his commenting, it's all personal. I have no beef with you. My statement stands though and no one has a counter argument besides family and friends. That's not a knock on you, I get the reasoning. The rampant complaining here, elsewhere, and my personal experiences in CA are enough for me to know what the state is. A "pretty" shit hole that's on fire and has no water unless it takes it from others. Haven't even touched politics and the batshit crazy leftoid crap...

Is IL a shit hole, sure some parts. I'm not in those parts. It's a large state as well and most of it is amazing outside of Chicago, which is still amazing compared to any city in CA. This is why travel is important. Your corner of the world is not better than any other. Frankly for the wealth that is there, it's pretty sad what it has become. Stay for family or friends all you want, but don't claim it to be some glorious place.

If G simply answered any question about BTC or crypto, maybe he'd deserve some respect. You do know he's a BTC troll/spammer though, right?
68   Bitcoin   2021 Mar 4, 7:16am  

beautiful day in SoCal! And Bitcoin is closer to 100k than to 0. Happy Thursday!
69   WookieMan   2021 Mar 4, 7:28am  

G36 says
beautiful day in SoCal! And Bitcoin is closer to 100k than to 0. Happy Thursday!

Have you taken any gains? Or just gonna keep spamming the site?
70   Bitcoin   2021 Mar 4, 8:32am  

If you would read, you would know :) taking the doggy for a morning walk
71   WookieMan   2021 Mar 4, 10:27am  

G36 says
If you would read, you would know :) taking the doggy for a morning walk

So no fenced yard. That makes sense. lol. Talk about those gains....
72   Bitcoin   2021 Mar 4, 11:06am  

I knew you read it.....but your pretend you didnt read about my 11x profit with Cardano and BinanceCoin.
Note, i only sold a small portion of my cardanos.....will sell heavily when it hits 5-10USD.

love those daily hikes/walks....beautiful weather and nice views. Sry, I just realized that triggers you....We know how weather looks like in IL.
My bad!
73   Bitcoin   2021 Mar 4, 11:10am  

B.A.C.A.H. says
WookieMan says
Unless you surf, there's zero reason to live in CA.


Parents. Adult kids. Siblings. Nieces. Nephews. Cousins. In-Laws. A lifetime's worth of friends (those who haven't left already.)

It's family values, sir. Maybe that's not reason enough for you, but it is for me.

Besides, when the SHTF, Reno beckons.

Notice we (G36 and me) did not attack/criticize you on your commitment to live in IL? We are on Plan-A. (Plan-B being,to degrade others to elevate ourselves. We're not on Plan-B. We're on Plan-A: we do what we do without degrading others' choices).


solid comments here by @B.A.C.A.H.
Hope @WookieMan learns something.
74   WookieMan   2021 Mar 4, 12:43pm  

G36 says
I knew you read it.....but your pretend you didnt read about my 11x profit with Cardano and BinanceCoin.
Note, i only sold a small portion of my cardanos.....will sell heavily when it hits 5-10USD.

love those daily hikes/walks....beautiful weather and nice views. Sry, I just realized that triggers you....We know how weather looks like in IL.
My bad!

You sold nothing and know it. You don't have anything. Hikes and walks? Lol. Can't afford paid activities with nothing I suppose.
75   Bitcoin   2021 Mar 4, 12:52pm  

WookieMan says
You sold


yep. I dollar cost avg out of my positions during a bull market. slowly since we are still early in the cycle.
Thanks!
76   WookieMan   2021 Mar 4, 12:55pm  

G36 says
WookieMan says
You sold


yep. I dollar cost avg out of my positions during a bull market. slowly since we are still early in the cycle.
Thanks!

So no....
77   B.A.C.A.H.   2021 Mar 4, 12:56pm  

WookieMan says
G36 says
If you would read, you would know :) taking the doggy for a morning walk

So no fenced yard. That makes sense. lol. Talk about those gains....


You know an awful lot about us and about where we live. Even though you haven't lived here.

We like to walk our dogs even though we have fenced yards. We like it, and the dogs like it. And when it's not raining and not smokey, which is most of the time, the weather is lovely for walking dogs. Even though we have fenced yards. You should try it.

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