Is Bitcoin the beta bucks of the near future?

[ChristopherColumbus]

And what exactly kind of lines are you drawing now? You can make charts that say anything you want.

Well that is a parabolic curve. The great thing about charts is that they do not lie. The trend is there staring you in the face. Of course there are no certainties [which is why you don't bet the farm and take some hedges], but there is a very good likelihood that the trend will continue.

That said, I am starting to move away from the parabolic model here to a wave theory. The parabolic rise here can be incorporated into wave theory, but the parabola model itself may prove to be limited - how could the price keep going vertical... unless it is a spike and blow-off? But the regular corrections in Bitcoin are showing a sustainable move to this massive price increase.

In the following charts is the wave pattern I have identified.

Wave A... move up
Wave B... 50% correction
Wave C... consolidation/ recovery back to the price of A's move up.

Rinse and repeat.

The charts follow chronologically:

 

[ChristopherColumbus]

So I should sell my $27,000 worth of BTC and buy what?

Where do I buy these? They're not available on Coinbase.

Open a Crytopia account.

But you should consider Bitcoin your core 'conservative' position and the other alts more speculative. It would be silly [greedy] to pile all your Bitcoin into the most speculative alts.

 

[RichardTheFrog]

Well that is a parabolic curve. The great thing about charts is that they do not lie. The trend is there staring you in the face. Of course there are no certainties [which is why you don't bet the farm and take some hedges], but there is a very good likelihood that the trend will continue.

That said, I am starting to move away from the parabolic model here to a wave theory. The parabolic rise here can be incorporated into wave theory, but the parabola model itself may prove to be limited - how could the price keep going vertical... unless it is a spike and blow-off? But the regular corrections in Bitcoin are showing a sustainable move to this massive price increase.

In the following charts is the wave pattern I have identified.

Wave A... move up
Wave B... 50% correction
Wave C... consolidation/ recovery back to the price of A's move up.

Rinse and repeat.

The charts follow chronologically:

Where do I go to learn how to read and make charts and all that?

 

[ChristopherColumbus]

Where do I go to learn how to read and make charts and all that?

I remember starting off here years ago when the gold bull was in its run. Happy studying!

http://stockcharts.com/school/doku.php?id=chart_school

 

[RichardTheFrog]

I remember starting of here years ago when the gold bull was in its run. Happy studying!

http://stockcharts.com/school/doku.php?id=chart_school

Do you do this for a living? How much money have you made?

 

[DEEZEDBRAH]

Will bitcoin eventually be accepted on dates with women? If so is bitcoin destined to be the beta bucks of the near future?

In 2017, women are spreading without dates so, the idea of supplicating by playing provider male is lost on me.

BTC/BCC/LTC are dueling. A crypto currency will prevail. While I have bought in, I wish I did so sooner however, I did not fully grasp the currency nor the technology. To be 100% honest, I don't think anybody fully grasps the value nor the full extent to which this technology is capable of. Time will tell. Like every single financial guru will tell you, NEVER THROW ALL EGGS IN ONE BASKET. DIVERSIFY!

 

[ChristopherColumbus]

Do you do this for a living? How much money have you made?

Nope, just a hobby. I am a complete amateur, and do it for the challenge and aesthetic pleasure [I think that this may actually be an advantage]. I'm definitely the buy and hold type. I bought in heavily at 10K levels... when I first became aware of its 'parabolic' rise. Currently, after a 30% odd correction, I'm still up 40%.

 

[ChristopherColumbus]

 

[ChristopherColumbus]

 

[RichardTheFrog]

Couldn't you have made similar charts before the dot-com bubble burst?

When making charts, how do you know what timeframe to use? The same security could look like it's on different paths over the course of a week, a month, a year, or 5 years.

 

[ChristopherColumbus]

Couldn't you have made similar charts before the dot-com bubble burst?
.

That's why you should hedge against your main position. Also why you shouldn't get too caught up in the speculative fever. A lot of these alts you see coming out are super speculative... though no doubt a few will do well.

 

[RichardTheFrog]

That's why you should hedge against your main position. Also why you shouldn't get too caught up in the speculative fever. A lot of these alts you see coming out are super speculative... though no doubt a few will do well.

Cryptocurrencies as a whole are speculative.

There's no such thing as returns like this in reality.

 

[ChristopherColumbus]

Cryptocurrencies as a whole are speculative.

There's no such thing as returns like this in reality.

You need an imaginative and Copernican revolution in your thought.

You are not looking for 'returns' on your US dollars, or whatever. You are looking at the capitalization of a decentralized and debt-free currency.

 

[RichardTheFrog]

You need an imaginative and Copernican revolution in your thought.

You are not looking for 'returns' on your US dollars, or whatever. You are looking at the capitalization of a decentralized and debt-free currency.

A currency that has no mainstream use in the real world.

Let me know when I can pay for gas and food with Bitcoin, let alone all the 1000 other cryptocurrencies. Don't think I'll be paying my electric bill in Ethereum any time ever.

 

[ChristopherColumbus]

A currency that has no mainstream use in the real world.

Let me know when I can pay for gas and food with Bitcoin, let alone all the 1000 other cryptocurrencies. Don't think I'll be paying my electric bill in Ethereum any time ever.

Paper currencies, since their removal from a gold standard, have stood the functions of money upside-down. Money is primarily a store of value and then a means of exchange and pricing mechanism. But central bankers in their wisdom supposed that the means of exchange was to be the primary function... and marginalized its store of value function. Indeed, they built in a year on year inflationary component in order to grow the economy and inflate away debt. It works until it doesn't.

What you see happening with Bitcoin at the moment is first the capitalization of it. Capital will increasingly be sucked into it as it builds its store of value function. Once capitalized and stabilized, it may perform its other functions as a means of exchange. At the moment, Bitcoin is serving the function that gold used to when economies/currencies got into trouble.

 

[ImTheDoubleGreatest!]

take that money and put it into other tokens, you'll get more return on it. Electroneum, Lumens, Footy Cash, Hempcoin, all of those are under a dollar and will be over a dollar at least next year. You buy electroneum at 10 cents, sell at 2 dollars, you've made way more return on your money.

I appreciate your advice, but why do you think these will all go up? I can take a guess, but I’d like to hear your opinion.

 

[BeTheChange]

I
Have
Experience
That
You
Don’t.
It
Doesn’t
Mean
You
Have
To
Get
Butthurt
Just
Because
You
Don’t
Like
It.

The only person who's butthurt in this conversation is you. You can't prove your position and continuing along this line of thinking is only proving to the rest of us what an idiot you are.

The only response required from you is a valid source that confirms your ridiculous statement that the majority of bitcoin transations are due to criminal and drug related activity. Either provide objective evidence beyond your "feelings" or stfu.

You are trying to present yourself as knowledgeable on a topic that you clearly know nothing about. And you're just p1ssed because you've been found out. It's like I'm talking to an 8 year old...

 

[RichardTheFrog]

Paper currencies, since their removal from a gold standard, have stood the functions of money upside-down. Money is primarily a store of value and then a means of exchange and pricing mechanism. But central bankers in their wisdom supposed that the means of exchange was to be the primary function... and marginalized its store of value function. Indeed, they built in a year on year inflationary component in order to grow the economy and inflate away debt. It works until it doesn't.

What you see happening with Bitcoin at the moment is first the capitalization of it. Capital will increasingly be sucked into it as it builds its store of value function. Once capitalized and stabilized, it may perform its other functions as a means of exchange. At the moment, Bitcoin is serving the function that gold used to when economies/currencies got into trouble.

Gold has no value. Gold standard is not necessary. Primitive tribes used cowrie shells. It worked because they agreed it would.

Bitcoin does not work as a medium of exchange if nobody accepts it. I could possibly foresee a future where Bitcoin is accepted some places. But Litecoin, Ethereum, and all the others? No.

 

[RichardTheFrog]

Has bitcoins helped anyone's game by any chance?

If it made them richer, it would.

 

[ImTheDoubleGreatest!]

that the majority of bitcoin transations are due to criminal and drug related activity.

You’re an absolute moron. I said the majority of the BIG transactions. Aside from some money laundering and tax evasion/avoidance, the vast majority of all other BIG transactions are in cryptocurrencies. Resident retard BeTheChange can’t even read, probably from watching too much anime like most weebs. Either way, I’m not about to potentially incriminate myself just to prove a point. Go figure this **** out for yourself. You likely haven’t even heard of half the things the people here have talked about before reading them from this thread. I’ve known about this stuff for years before it even became mainstream. You say that all transactions with it are traceable, yet no one even knows who created it.

Just because it means that what you previously knew is wrong doesn’t mean you have to cry and call it nonsense. Take the red pill my friend, it’s clear you still haven’t.