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Can we have a non-hate mail vs fanboy thread on trading Bitcoin?


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2022 Mar 12, 4:27pm   25,382 views  189 comments

by Rin   ➕follow (13)   💰tip   ignore  

Whenever this topic comes up, it turns into political theater. Why can't we talk about a market (whether it's real or imagined stardust) w/o it turning into a cage match?

Let me make a comparison to a more mature market.

The following is a multi-year chart of the EUR vs USD, with the 50 bar exponential moving average (EMA) as the indicator on the chart. As anyone can observe, when the spot price is above the 50 EMA, there are more bullish trading opportunities (in green) than below it. And when it's below the 50 EMA, bearish events (in red) tend to be more common.







Now, contrast the above with that of BITCOIN vs USD. Whenever the 50 EMA is tested, the bearish opportunities are sparse and really don't even given bonafide short sellers much time to maneuver w/o a near term rally taking 'em out.



All and all, that's a bullish market with a high amount of sentiment on the upside. So until we see a general overall market meltdown, I'm not calling curtains on the cryptos.

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58   Cash   2022 Mar 28, 12:44pm  

PeopleUnited says
For example?

Some of my favorites are $XRP $HBAR $XDC $SOL $LINK $XLM $ADA $ALGO $VET $LRC to name a few.
Take a note of their price today and come back towards the end of the year some will 10x and perhaps much more and some will hardly
move+/-. Remember the point of my post was speculating nothing more nothing less.
59   Onvacation   2022 Mar 28, 12:52pm  

Cash says
Remember the point of my post was speculating nothing more nothing less.

AKA - Gambling that some greater fool will buy your virtual tokens.
60   Cash   2022 Mar 28, 12:55pm  

@ PeopleUnited So after wookie stepped in his own dog shit like every time he approaches this subject do you feel saved? Cause you know that is his intentions, to save you and everyone from themselves, and warn patnet'rs not to get involved and educate themselves of crypto the devils workshop.
61   Cash   2022 Mar 28, 1:40pm  

Grayscale Threatens Legal Action if SEC Rejects Bitcoin ETF Conversion Bid
Grayscale has been encouraging investors to submit comments, even creating an education page and email form on its website.
“This is a really, really important part of the process,” Sonnenshein said.
“GBTC today is owned by investors in all 50 states, and there’s actually now over 800,000 accounts in the US all waiting patiently to have it converted into an ETF.”
https://blockworks.co/grayscale-threatens-legal-action-if-sec-rejects-bitcoin-etf-conversion-bid/?source=patrick.net

Money Money Money MONEY!!!
BOOM! BOOM! BOOM!
62   Cash   2022 Mar 28, 1:48pm  

Onvacation says
AKA - Gambling that some greater fool will buy your virtual tokens

LIKE all markets Speculative!!! ask the the gold bugs, who pumped gold and was sure that speculation would be 5k 10k 50k year after year..
I have gold, silver etc. and like owning it, but still waiting 10yrs later for this quick "get rich scheme" end of the world prices lmao ...
Now those who speculated 10yrs ago on BTC 900,000%+/- since origination.
63   Cash   2022 Mar 28, 1:58pm  

Strongest markets today "Safe Money"
USD
JPY
CHF
Crypto...

While equities, metals and oil muddle although they will be popping at some point, but not until the USD actually rolls over.
64   Cash   2022 Mar 28, 2:29pm  

Here is a token project really test case in it's development which I have been supporting.
Including sharing this link which is not my own but someone I hope to help https://minepi.com/cash007
This project provides coins by you mining on your phone and has no effects on your power discharge
and uses net zero in power. I also run a node on my PC which has little or no effect to my processing power.

The Pi developers approach has been different then what I have seen across the space, instead of developing a
and selling a token ICO style with all the promises of utility and accomplishments at a later date which most fail or will fail.

The Pi developers 1st have built a community 33 million strong simply earning tokens with their phones and are actively working
with developers of all sorts so when Pi does go Mainnet it has prominent use case in many areas.
65   Rin   2022 Mar 28, 3:05pm  

WookieMan says
Crypto is not the way to riches. I've been staying out of these threads


Folks, can we keep the hate mail vs fanboy stuff on the other thread.

This one is about trading, not the politics of cryptos. Otherwise, we could go on about the morality of tobacco stocks, probably the safest investment of them all.

Cash says
@ PeopleUnited So after wookie stepped in his own dog shit like every time he approaches this subject do you feel saved?


Don't play on the trading thread. Move this to the hate mail vs fanboy one.
66   Rin   2022 Mar 28, 3:07pm  

Cash says
Rin says
it's time for bitcoin to either go big or go home.

Nope, just more sideways action


'Go big' here means a reset of the last high, not some 'all time' high.

Because the bears are calling for a breakdown to the $23K level which would negate the bullish channel in formation.
67   Cash   2022 Mar 28, 3:11pm  

Rin says
Don't play on the trading thread. Move this to the hate mail vs fanboy one.

When the pooches shit in the yard they get what they get their faces rubbed in it... Yes they should go to their Misinformation
thread where their BS is welcomed. When I explain some simple concept about crypto I am sure no 1 wants the uneducated blind
misinformed BS from the other side.

Also Like I mentioned you invited this shit with the title to this thread.., I am neither hate mail vs fanboy one.
68   Rin   2022 Mar 28, 3:33pm  

Ok, with that stated, here's my take on the blue chip world of 'real' product producing companies to the buy 'n hold persons here. Let's start with Proctor & Gamble. The stock is currently circa $150 vs $100 back in 3/19 when its dividend was some 3.5%.

Now, when a person re-invests those dividends, they're buying P&G shares at a markup, trending towards +50%, of only a few years back. If anything, when this market dives, that's a major cap gains loss as those final shares of the "blow off" top, were overpriced.

This is why I came up with the bitcoin trading strategy and that's because BTC is bullish and is trading within a channel of sorts.

That's a better way to utilize those P&G shares, which were already in one's portfolio since 2019, but using the re-occurring dividends to play the BTC trading channel.

Now, if that's too scary for you, stick to Altria, British-American Tobacco, and Rio Tinto.
69   Rin   2022 Mar 28, 3:39pm  

Rin says
3/19


FYI, I'm holding onto my shares of P&G since 3/19. I don't feel the need to sell nor to increase my holdings. It's a fine company and will do well in the long term but I'm not buying more shares until the market corrects.
70   SoTex   2022 Mar 28, 7:24pm  

FJB says


Whelp I was wrong. It's still a hellava bear flag though. I'm hoping it drops to 20K so I can become a crab instead of a shrimp. I still think it will.

Also, I agree with some of the comments today. Lets keep this thread constructive for people who don't hate it. You don't have to love it either. We already have a bitcoin misinformation thread.

On that note, and not directed at anyone on Patnet, only the government, media and ... I can't think of any more major investors other than Buffet and his pal as the rest seem to all have changed their minds:

1. First they ignore you
2. Next they laugh at you
3. Then they fight you <- this was the infrastructure bill. Some critters were for, some against; until they realized 1/4 Americans own crypto now
4. Then you win! <- this was potato's exec order and Yellen coming out saying at first she didn't get it but now she does
71   SoTex   2022 Mar 28, 7:25pm  

Also: Blackrock is in now... Fuckers. I hate 'em but that's the thing about crypto. Both you and your enemies want to protect it.
72   Cash   2022 Mar 28, 8:14pm  

Here is a good site to track any tokens you are interested in, make it a portfolio at the price you created the portfolio and
watch it keep track of P/L. https://coinmarketcap.com/?source=patrick.net you can use both phone and/or desktop.
73   PeopleUnited   2022 Mar 28, 9:12pm  

I’ve been watching BTC and XRP since summer of 2018. I thought about buying some XRP when it dropped into the 30 cent range. But I did not, probably because it does not seem real to me, and therefore it’s not enjoyable. Cryptos are like VR goggles, and I have never had the interest in even putting on a VR headset let alone spending money on them. And more than that even, I just don’t trust electronics, so I’m not going to put my money in the virtual slot machine.

But if I had put a grand into BTC or XRP 3.5 years ago I’d now have close to 6 x my original investment. That would not change my life but would give me bragging rights! To me, that is why people talk about crypto’s so much, to brag about their winnings.

But what they don’t want to admit is that they are too chicken or too greedy to cash out. This casino is not going to pay everyone, and it maybe won’t even be open in 3-5 years. It’s foundations are not solid and it’s full of addicts and in fact if it were not for cryptos inflation would probably be much worse. Of all that money created out of thin air in the past 14 years some went to stocks, some went to real estate and a bunch went to cryptos. That 6x return I missed out on, is really just inflation coming home to roost. Cryptos might help you preserve your wealth a little longer. But when the casino closes, stocks, cryptos and even to a certain extent non agricultural real estate will all return to their true value. If they can’t be used as food, shelter, medicine, or entertainment, they will have no value after the great reset. So trade now, but don’t count on realizing any gains unless you plan to cash out before the inevitable crash.
74   SoTex   2022 Mar 28, 9:54pm  

PeopleUnited says
I just don’t trust electronics, so I’m not going to put my money in the virtual slot machine.


Your money is already in electronics. Go to the bitcoin is stupid thread please.
75   Cash   2022 Mar 29, 7:00am  

Dubai’s New Crypto Law Attracts Bybit And Crypto.com To Set Up Local Offices
https://www.forbes.com/sites/zinnialee/2022/03/29/dubais-new-crypto-law-attracts-bybit-and-cryptocom-to-set-up-local-offices/?sh=6a27f48b2d92&source=patrick.net
The new regulation is part of the United Arab Emirates’ drive to become a global crypto hub. It has already attracted the likes of the world’s largest crypto exchange Binance, which won a license in mid-March to operate its regional business from Dubai. The European affiliate of crypto trading platform FTX has also announced that its regional office will be there.
76   Cash   2022 Mar 29, 7:11am  

FJB says
Your money is already in electronics. Go to the bitcoin is stupid thread please.

That whole post belongs there and shows massive amounts of ignorance and judgement that is beyond ______
Fill in the blank as you wish
77   Cash   2022 Mar 29, 7:16am  

There are a few here that don't have a clue how bad they look speaking about an asset they prove they really know nothing about to those who know exactly what they own...
78   Cash   2022 Mar 29, 7:20am  

ISO20022 - UTILITY WW
RIPPLE > $XRP
STELLAR > $XLM
XINFIN > $XDC
ALGORAND > $ALGO
IOTA > $IOTA


79   Rin   2022 Mar 29, 12:33pm  

FJB says
Whelp I was wrong. It's still a hellava bear flag though. I'm hoping it drops to 20K so I can become a crab instead of a shrimp. I still think it will.


Well, you've got the next Fibonacci level, $48K-$49K to retest.

If that holds or breaks through, in terms of a weekly candlestick price bar close (not daily), then the bearish flag is completely annulled.
80   Cash   2022 Mar 30, 11:06am  

Any who think institutions are not into this space just look at the size of those big red-green dildos
I like bitcoin although I don't own any myself and imo is likely to stay as some sort of safe harbor being people can be there own bank as it were
and my next speculative tgts are 89k+/- then 104k+/- but not before the USD (DXY) rolls over which BTW hit a 2x bottom and now will be
a 3x if it survives 97.7. The be "your own bank" only applies if you hold your own keys and don't let the banks hold custody for you of any token
what ever they are offering.



As time goes on we should be able to see what if any correlation remain or decoupling takes effect fiat, crpto, commodities, and equities...
Not sure how that will end up but definitely taking note and will respond accordingly.
81   Rin   2022 Mar 30, 4:29pm  

Cash says
next speculative tgts are 89k+/- then 104k+/-


My first take profit is selling 2/3 at $65K and then letting the rest run up to $85K+.
82   Cash   2022 Mar 30, 5:16pm  

Rin says
My first take profit is selling 2/3 at $65K and then letting the rest run up to $85K+.
Good plan brother that's right near the top R/line of that big flag pattern wky just keep in mind the odds if/when that line is hit 3x is a charm and it will be high probability it fly's to 89k after a bit of stall... I'm holding about 40+diff stacks of coins and for the most part all bought in 2021 at various time, so due to taxes my plan is I will hold for at least 1yr if at all possible unless profits get to tasty. I sold most everything near crypto highs in 2020 and re-bought in 2021.
83   Cash   2022 Mar 30, 5:17pm  

There will likely be 3 bullish patterns to consider W, bull flag and a C&H
84   Cash   2022 Mar 30, 5:18pm  


Pack your bags, time is running out. You can't live with yourself if miss this once in a lifetime opportunity. $link
pic.twitter.com/jInMSDSFn9— Dr. Väinämöinen (@DrVainamoinen) March 30, 2022

Hundreds of TRILLIONS of dollars Money Money Money MONEY!!!
85   Cash   2022 Mar 30, 6:05pm  

34 Questions You Should Ask Yourself Before Buying Into Any Cryptocurrency.
The crypto markets are a wild place, and often investors make the mistake of blindly buying into an asset without doing proper research beforehand.
https://cryptowhale.medium.com/34-questions-you-should-ask-yourself-before-buying-cryptocurrencies-71904b351911?source=patrick.net
86   Cash   2022 Mar 30, 6:09pm  


The subgraph for @ethsign is live on The Graph’s decentralized network ✍️

EthSign is a dapp for signing electronic agreements, built on Ethereum. Removing the need to trust proprietary software providers to sign documents, EthSign keeps agreements secure using the blockchain. pic.twitter.com/7j6D0u8w6g— The Graph (@graphprotocol) March 31, 2022

Money Money Money MONEY!!!
87   Rin   2022 Mar 30, 6:45pm  

Cash says
Rin says
My first take profit is selling 2/3 at $65K and then letting the rest run up to $85K+.
Good plan brother that's right near the top R/line of that big flag pattern wky just keep in mind the odds if/when that line is hit 3x is a charm and it will be high probability it fly's to 89k after a bit of stall... I'm holding about 40+diff stacks of coins and for the most part all bought in 2021 at various time, so due to taxes my plan is I will hold for at least 1yr if at all possible unless profits get to tasty. I sold most everything near crypto highs in 2020 and re-bought in 2021.


Realize, I'm trading my dividend stream from the non-tobacco stocks, like Proctor & Gamble, because I feel that the classic DRIP (Dividend Reinvestment) isn't going to work for the overpriced blue chips, until the next market crash.

And thus, my trading strategy is basically aligning the cap gains on the XBTF to bolster the earnings of the P&G plus friends earnings instead of getting caught in buying their equities during a market high.
88   Cash   2022 Mar 30, 7:00pm  

Rin says
Realize, I'm trading my dividend stream from the non-tobacco stocks, like Proctor & Gamble, because I feel that the classic DRIP (Dividend Reinvestment) isn't going to work for the overpriced blue chips, until the next market crash.

And thus, my trading strategy is basically aligning the cap gains on the XBTF to bolster the earnings of the P&G plus friends earnings instead of getting caught in buying their equities during a market high.

Spot on, good strategy in this steam of time. Most here probably aren't setup like your portfolio is, or even could execute your moves w/o some kind of help.
90   PeopleUnited   2022 Mar 30, 9:33pm  

FJB says
Your money is already in electronics.


This is silly. There is a huge difference between accessing your assets through a computer gateway, and storing your assets on a computer or digital wallet.
91   PeopleUnited   2022 Mar 30, 9:38pm  

Rin says
And thus, my trading strategy is basically aligning the cap gains on the XBTF to bolster the earnings of the P&G plus friends earnings instead of getting caught in buying their equities during a market high.


This actually makes sense to me, essentially you are trading BTC just like some people do SLV or GLD ETF’s. So you don’t have to worry about storing or securing your coins.
92   PeopleUnited   2022 Mar 30, 9:46pm  

Cash says
That whole post belongs there and shows massive amounts of ignorance and judgement that is beyond ______
Fill in the blank as you wish
Talk to me in 20 years so we can decide who is ignorant or exercised bad judgment. Until then enjoy your speculation but don’t neglect to cash out before the casino closes.
93   Cash   2022 Mar 31, 6:36am  

Bitcoin And Crypto Now Braced For A $10 Trillion Earthquake As Ethereum, BNB, XRP, Solana And Cardano Soar
https://www.forbes.com/sites/billybambrough/2022/03/27/bitcoin-and-crypto-now-braced-for-a-10-trillion-earthquake-as-ethereum-bnb-xrp-solana-and-cardano-soar/?sh=5b7991ac4545&source=patrick.net

In March, a Credit Suisse analyst said the Russian war in Ukrainian will create a new world financial order that could boost the price of bitcoin and other cryptocurrencies.

"We are witnessing the birth of Bretton Woods III—a new world (monetary) order centered around commodity-based currencies in the East that will likely weaken the Eurodollar system and also contribute to inflationary forces in the West," Zoltan Pozsar, global head of short-term interest rate strategy at the giant investment bank, wrote in a report.

Money Money Money MONEY!!!
94   Cash   2022 Mar 31, 6:39am  

PeopleUnited says
Talk to me in 20 years so we can decide who is ignorant or exercised bad judgment.

20yrs. lmao
95   Cash   2022 Mar 31, 6:44am  

ECASH - The US Civil Currency War - The Fed v. US Treasury v. The Banks
https://www.youtube.com/watch?v=1T4LpurZU6Y&t=156s&source=patrick.net
96   SoTex   2022 Mar 31, 8:48am  

Rin says
Well, you've got the next Fibonacci level, $48K-$49K to retest.

If that holds or breaks through, in terms of a weekly candlestick price bar close (not daily), then the bearish flag is completely annulled.


Bumped it's head on the 200 moving day average. Lets see if it bounces off of that triangle then moves higher.
97   Cash   2022 Mar 31, 10:38am  

FJB says
Bumped it's head on the 200 moving day average. Lets see if it bounces off of that triangle then moves higher.
The DXY is still in range an so I am not really looking for BTC to pop but rather hoping crypto stays in range and weakens a bit, looking to add more various coins to my stacks at some discount.

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