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Bitcoin & crypto? Pt. 2

Discussions about the economic and financial ramifications of PEAK OIL

Re: Bitcoin & crypto? Pt. 2

Unread postby theluckycountry » Mon 04 Dec 2023, 00:18:03

I was just looking at a chart of the last 1000 dayz of bitcoin trading. It reminded me of the odds on a roulette wheel. No real pattern, but a few big wins followed by many many losses. It's a shame it can't hold its gains over time like Gold does.

That's why I suggested above that people who are in the green get out while they can. You don't want to be counting on the money in 5 years time and have your tokens in a prolonged slump because Elon Mush reportedly sold his entire hodling of doge to fund a takeover of a hamburger chain. Boom and Bust, Boom and Bust.
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Re: Bitcoin & crypto? Pt. 2

Unread postby theluckycountry » Sun 10 Dec 2023, 23:29:44

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Re: Bitcoin & crypto? Pt. 2

Unread postby theluckycountry » Mon 11 Dec 2023, 20:39:36

theluckycountry wrote:With Bitcoin approaching $40k it's probably a good time for legacy buyers to consider their position and whether they can get out without loss... do your due diligence, when Bitcoin collapses it does it very fast.


"This Is The Big Fight!" Bitcoin Battered As Sen. Warren Unveils Bill To "Crack Down" On Crypto

Bitcoin was hit with a double-whammy today with a large liquidation of longs overnight (around $100 million)... Additionally, data from the statistics resource CoinGlass had cross-crypto long liquidations for the day stood at over $400 million.
Forced selling already? At what point were these trades placed.

And then another leg lower as US Senator Elizabeth Warren introduced legislation to address her concerns surrounding the alleged misuse of digital currencies in illicit activities, citing money laundering, drug trafficking, sanctions evasion, and more.


Let's see what the rest of the week brings.
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Re: Bitcoin & crypto? Pt. 2

Unread postby careinke » Tue 12 Dec 2023, 04:37:26

Well we've certainly entered the fight stage of this battle,I'm looking forward to the last stage, "and then we win." Both of my limit buy orders, (BTC and SOL), set five percent below the high were filled. :-D

I'm not really concerned with Warren's Resolution. In eleven years, she has submitted 640 Resolutions, 47 Concurrent Resolutions, and 45 Joint Resolutions. ZERO have passed. :shock: She is owned by the Banks.

Her testimony was a joke and EXTREMELY inaccurate, which was quickly debunked by the alternate media's. Some of the things she wants to do are mathematically Impossible.

Finally she is trying to implement a Central Bank Digital currency before January 10, 2024, before Gary has to approve the BTC ETFs.

The liquidations were people buying on margin at 20X-50X rates combined with the fact there is very little BTC left on Exchanges. Most of it is held on cold wallets not commercial exchanges.

I don't buy on margins anymore, especially with AI Bots trading. I learned that lesson during the last cycle. Yea the market was going up and I thought I was a genius who could do no wrong. Lost a few BTC before I gave up. The exchanges make a lot of money off of bad money management, some Degens have been completely wiped out.

During the last three Bull Markets, there were an average of 6 pullbacks Between 20-35%. So far, this cycle has had smaller pullbacks and so far is rising earlier and faster than expected. We also have 8 green weekly candles in a row (which has only happened twice), so we can certainly use a breather.

My cost basis for BTC is now up to $9,800.00 a coin. For SOL it is $35.00, so I'm doing fine. :-D. Now I have the "It's the world ending as we know it" song as an an ear worm in my head. Damn!

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Re: Bitcoin & crypto? Pt. 2

Unread postby theluckycountry » Tue 12 Dec 2023, 14:24:45

I see Gold is moving down sharply as well, and Oil, for the last quarter, which is good news for those who have to drive long distances to work every day. One of my neighbors is retiring earlier than planned simply because of the cost of driving to work. They moved out here a year back to get way from the hustle of the outer suburbs but still had to commute back daily. He's going to begin tapping into his private pension, I hope it lasts him out. Interesting times we live in.
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Re: Bitcoin & crypto? Pt. 2

Unread postby theluckycountry » Mon 08 Jan 2024, 02:05:11

careinke wrote:Well we've certainly entered the fight stage of this battle,I'm looking forward to the last stage, "and then we win."


You know you don't have to wait until it sustains a week over 45k before you comment here inke, it's not a lotto ticket but an investment remember. I'd be interested to know your opinion on the current dynamics in the market, what's sustaining the bull run, where is the demand coming from, that sort of thing.
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Re: Bitcoin & crypto? Pt. 2

Unread postby careinke » Mon 08 Jan 2024, 07:32:46

theluckycountry wrote:
careinke wrote:Well we've certainly entered the fight stage of this battle,I'm looking forward to the last stage, "and then we win."


You know you don't have to wait until it sustains a week over 45k before you comment here inke, it's not a lotto ticket but an investment remember. I'd be interested to know your opinion on the current dynamics in the market, what's sustaining the bull run, where is the demand coming from, that sort of thing.


Well since you asked so nicely, :)

I am very excited about the dynamics of the market right now. This next week/month should be spectacular on so many levels. I truly believe in the not so distant future, financial historians will mark January 2024 as significant milestone in economic history.

BTC has always increased in value for three years (Green Candles) followed by a significant down year (Red Candle). Then the process repeats. 2024 is the second green candle year in this cycle. So far, each yearly green candle is larger than the previous one. I expect BTC will be above 100K prior to the end of this year. But hell it could happen this month.

The SEC is under a Fed court order, with a deadline of 10 January, to determine whether the SEC is going to allow 10-13 companies to offer BTC spot ETFs on the exchange. Blackrock is the largest, controlling well over 30 Trillion dollars in lots of company retirement plans. Blackrock feels there is a 98% chance of being approved by the 10th. Blackrock recently stated it has set aside 2 Billion for BTC purchases for their ETF. Others have "seeded" their ETFs with millions of dollars. The deal may already be approved, but the ETF companies can not say anything until the SEC makes the official announcement.

So, here is where the fun part comes in: There is not enough BTC for sale to handle the expected demand. Consider there are only 21 million Bitcoin, 19.56 million BTC have been mined to date, it is believed only around 14 million BTC are still accessible with the rest being lost, 70% of the mined BTC have not moved in over a year, the exchanges have the lowest amount of BTC since 2018 right around 2 Million. OG Bitcoiners no longer trust exchanges after FTX so when they are done trading they pull their money into self custody wallets.

The total market cap of BTC is around 860 Billion dollars at it's high during the last cycle I think it went as high as 1.6 trillion when it hit $68,000.

Well I got to get to bed. more later.

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Re: Bitcoin & crypto? Pt. 2

Unread postby theluckycountry » Mon 22 Jan 2024, 16:23:22

careinke wrote: Both of my limit buy orders, (BTC and SOL), set five percent below the high were filled. :-D

Peace


Perhaps you should have waited? SOL has been a train wreck, down 20 or 30% since you loaded up. One day the millennial public who have been bidding up the prices of these digital pieces of code will realize that their money is better spent on tangible things, things in the real world. And that will be that.

I'll never forget this client who bought a big stake in doge when it was 70-cents, that was back in 21 before I retired. He'd had such a shocking track record investing that I just blurted out "Well this must be the top then if you're buying in?" He gave me a filthy look but within two weeks the price was collapsing and it never looked back. A total train wreck.

CDO's before the GFC wiped him out, then he got a stake and was lured into on-line poker, then the crypto scam. He was sucker for get rich quick schemes. I'd known him for 20 years from back at the beginning when gold was $500 aussie ($3000 now). I told him all about it and how silver was even a better buy long term. He smiled and told me that when he'd made a fortune he'd buy some. The best laid plans of mice and men...

We won't discuss BTC right now, it's action, though no doubt disturbing to you, is still within the general volatility curve. SOL though is a obviously a total loser.
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Re: Bitcoin & crypto? Pt. 2

Unread postby careinke » Tue 23 Jan 2024, 05:34:18

Lucky,

My average entry for SOL is $40.64, and my average entry for BTC is $13,930.34. 8) So, I'm not that concerned. As a matter of fact I bought more of both this weekend.

Historically, BTC has 6-8 pullbacks of 20-30% during its three year Bull run and we are only 1/3 of the way through this Bull run. As a matter of fact, I feed on these pullbacks, the supply of available BTC keeps diminishing.

Gold also had a similar pullback right after its ETF was released, then it rose eight fold. Of course now it is basically flatlined if you don't include inflation. If you do, it's just a loser.

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Re: Bitcoin & crypto? Pt. 2

Unread postby theluckycountry » Sun 04 Feb 2024, 23:19:51

Bitcoin, a money system independent of government and banks. Yeah, in your dreams. The wall street whales completely control this pump and dump scheme now and the bitcoiners hang on every word coming out of the FED, because the FED will save bitcoin. Unbelievable that coiners still hold to the "alternate" money meme.

https://www.coindesk.com/tag/federal-reserve/

Now, as Federal Reserve chair Jerome Powell signals U.S. interest rates should begin to fall later this year, hedge fund manager Anthony Scaramucci has predicted the bitcoin price will surge to at least $170,000 per bitcoin after its April supply cut—which would give bitcoin a market capitalization of around $3.3 trillion.
https://www.forbes.com/sites/digital-as ... 522b5a7bff
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Re: Bitcoin & crypto? Pt. 2

Unread postby careinke » Mon 05 Feb 2024, 02:22:49

theluckycountry wrote:Bitcoin, a money system independent of government and banks. Yeah, in your dreams. The wall street whales completely control this pump and dump scheme now and the bitcoiners hang on every word coming out of the FED, because the FED will save bitcoin. Unbelievable that coiners still hold to the "alternate" money meme.

https://www.coindesk.com/tag/federal-reserve/

Now, as Federal Reserve chair Jerome Powell signals U.S. interest rates should begin to fall later this year, hedge fund manager Anthony Scaramucci has predicted the bitcoin price will surge to at least $170,000 per bitcoin after its April supply cut—which would give bitcoin a market capitalization of around $3.3 trillion.
https://www.forbes.com/sites/digital-as ... 522b5a7bff


Are you going to make 400% this year on your investments? :) My lowest prediction is $600,000 sometime in 2025. I really expect $1,300,000.00. Bitcoin loves inflation and Bitcoin loves disruptions, something we seem to have a lot of these days. And the world is just getting started, crazy times, glad I will be able to observe it firsthand.

Did you see that the El-Salvador President was just reelected with a strong majority? The first country to embrace BTC. Libertarians are taking over and the old order is scared.

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Re: Bitcoin & crypto? Pt. 2

Unread postby careinke » Mon 12 Feb 2024, 17:41:19

Happy Chinese New Year!

One of their traditions is to give money on New Years. This probable helped with our $50,000 BTC price. :)

I bought more BTC on Friday when Crammer confirmed the buy by saying BTC was not going to hold its present price. So far the "Inverse Crammer Rule" has had a 100% success rate. 8O Every time he gives the single, BTC rapidly climbs within three days.

The BTC ETF's on Friday alone bought 14 times the amount of BTC that can be produced in a day. And the number of BTC produced after around April 20 will be half of what is produced today. Also, the Hong Kong BTC ETF will open after the halving. China is going to allow their citizens to buy them.

BTC will probably hang around 50K for a while as 50,000 is a big psychological barrier in both directions. Still early in this cycle.

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Re: Bitcoin & crypto? Pt. 2

Unread postby careinke » Mon 12 Feb 2024, 20:40:19

One last thing,

I just preordered the Solana (SOL) chapter two phone for $450.00. Having missed the very first "Chapter 1" phones (now selling on EBAY for $2500.

The chapter 2 phone sold it's 100,00th phone today, and as previously announced will only remain at this price for another 48 hours. So I took some profits and splurged. This makes me a "Founder".

I DO NOT RECOMEND people less familiar with SOL or the Phantom Wallet do this!!!

I just posted it here for Historical or maybe Hysterical, reference.

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Re: Bitcoin & crypto? Pt. 2

Unread postby careinke » Wed 28 Feb 2024, 15:17:32

Good Morning all,

This one's for Lucky. Well, BTC smashed through $60,000.00 this morning. Actually the high (so far) for today was over $64K before Coinbase stopped working. Seems most centralized exchanges were overloaded and could not keep up. This has happened before, eventually they will catch up. As I type this BTC is between $60-61K. Decentralized Exchanges, (DEXs), do not have this problem.

Most of the current rise in price this week is coming from Institutional buying, retail buyers are mostly still sitting on the sideline. What a crazy and profitable week this has been so far, and it is only Wednesday!! :)

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Re: Bitcoin & crypto? Pt. 2

Unread postby careinke » Thu 29 Feb 2024, 04:28:32

BTC market cap is #10 when compared to all countries M1 assets, jumping over Canada and Australia yesterday.
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