If that plays out we are in the Bull Trap phase. I am watching the Dec. 22 selloff, if those lows can be held then the bubble has another leg up
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That’s exactly what I thought, Dennis.
Next few days will be critical, soon see if a deeper drop is coming or not.
If it does fall further, I would look to buy in if/when it returns to $8000
Hello, Eddie, Dennis, and everyone.
Here’s some “altcoin” news, which I think is on-topic for this thread.
News from the Cryptocurrency Wild West
(except, this time, the wild west seems to be in the east).
BDSwiss – which is domiciled in Cyprus (not Switzerland), and has its parent company in Mauritius (not Switzerland), and maintains an “address” in Germany (not Switzerland) for receiving snail-mail only – has a deal for you!
They are selling “tokens” for a new cryptocurrency, called BDXCoin to be issued about mid-2018. The tokens cost 10 euro cents each (€0.10) and will be exchangeable for BDXCoins at the ICO price of 20 euro cents in about 6 months, for a quick (and pretty certain) 100% profit.
But, if things don’t work out, BDSwiss guarantees to buy back any tokens at the original 10-cent price, meaning that risk on this deal is zero.
A total of 50 million tokens will be sold, of which 5.3 million have been sold (at 10 cents each) already.
Get in line, boys and girls!
If BDCyprus – er, I mean BDSwiss – can be believed, this is a deal not to be passed up.
You can read about it here –
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Hi Clint, good to hear from you.
I see these cowboys have bad reviews for fx, binary options, and I guess its only a matter of time before crypto’s follow suit.
Had to smile at this on their website
“Earning your trust
Stringent regulation by CySEC”
When are CySEC going to get their ar#e into gear and fall in line with the rest of Europe?
“The price of Bitcoin tumbled after the announcement.”
Bye bye Bitcoin?
With Russia pushing to launch a Government-backed digital currency if its own early 2018 and China, Canada, and the UK hoping to follow suit, could this be the end for the hundreds of existing cryptocurrencies currently circulating?
“Scarcity” is a big factor in the argument for bitcoin going to $100,000 – or $1 million.
I’ve made that argument myself – Going offshore to escape the CFTC
In the following copy-and-paste from Agora Financial in Baltimore, Alan Knuckman argues that bitcoin “scarcity” has been eliminated by the advent of trading in bitcoin futures.
I understand his point that speculators (with access to futures-enabled trading accounts) now have access (for trading purposes) to virtually unlimited amounts of bitcoin, without having to buy or sell the underlying. But, I’m not sure that eliminates the overall scarcity factor. – As the everyday, commercial use of bitcoin grows, futures contracts will be useless in providing needed additional liquidity to Main Street.
Anyway, here’s an excerpt from the Agora article. See what you think.
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This appeared on LeapRate on Wednesday. I didn’t see it until today (Friday).
Has anyone heard about this?
[U]Excerpt[/U]:
"After Segwit2x was planned to happen in mid November this year, the fork was unexpectedly cancelled …
"Now, a month later, the new fork is set to launch again …
"One of the most interesting features of the new fork is that there will be redistribution of Bitcoins. The ones in question are owned by the creator of Bitcoin, Satoshi Nakamoto. His Bitcoins, now numbering around 1 million, will be redistributed to current Bitcoin holders in proportion to their own holdings."
Here is the LeapRate article –
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keep an eye on total Market Cap and Bitcoin Dominance, Bitcoins dominance has dropped from 64% to 41.6% in just three weeks as money moves back into alt-coins. We saw the same thing back in June when Bitcoin share of the market dropped to 37% as Ethereum looked ready to overtake Bitcoin. At some point soon I would expect to see money follow back out of the Alts and into Bitcoin
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A handful of US companies, including Microsoft, are accepting Bitcoin payments. In Japan you can pay your tax with it.
Biggest issue is non-regulation meaning it is so open to abuse by criminals and tax-avoiders
Unless it is denying someone else their rights then it should not be labeled a crime, as far as tax-avoidance, that is the duty of every American to pay as little in taxes as possible.
Altcoins are still ripping higher as Bitcoin dominance drops to 38%
One year ago today Bitcoin was at $970, up 15 times, after this pullback hang on tight
Hi Dennis.
I didn’t mean it was a crime to use non-regulated Altcoins etc, I was alluding to the criminals who use this for money laundering and the like.
Always good hearing from you, have a great 2018
Namaste
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Bitcoin starts 2018 down 5% but Ethereum continues to hold it’s own up a little today,
Good day for the cryptocurrencies today
Crypto Market Cap Sets All-Time-High as Bitcoin Share Drops to Historic Low
https://www.coindesk.com/crypto-market-cap-sets-time-high-bitcoin-share-drops-historic-low/
Is the bitcoin correction over?
Hi Clint.
I heard that tale about Peter Thiel yesterday on CNBC.
Pretty impressive gain he has made
If the money I have sitting doing nothing in gold and silver had been invested equally among Bitcoin, Ether, and Litecoin I would have an eight-figure position.
I may be late to the party but at least I am at the party and the girls have not even gotten drunk yet. Look for more huge moves in 2018
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It is this kind of narrow-mindedness that will be the end of Wall Street
