T Nation

Cryptocurrencies


#261

Does the supply really matter when I can go buy 0.00047895 bitcoin? (I typed five dollars in Coinbase and that’s what I got).

I guess it’s a similar concept to buying gold in very small weight, like a gram or such. But I don’t think I can go out and literally buy five dollar’s worth of gold- I don’t think anyone would be willing to break it down to that small a chunk. There are size denominations for gold, but no such denomination seems to exist for bitcoin.

When you can buy very very small numbers of bitcoin, isn’t its scarcity less of a positive?


#262

https://www.icoexaminer.com/ico-news/pundi-x-ico-hits-23-million-hard-cap-two-hours/

This is an Indonesian firm.


#263

The granularity of a currency doesn’t change the effects of supply and demand?

This won’t have a real impact on the price re: supply and demand. You can buy a $10 diamond, doesn’t really impact the price. Small increments just lead to higher availability to buy (ie, you don’t have to be this tall to ride this ride).


#264

In regards to forced taxation, it may be the case that the government can easily take bitcoin. However, I don’t think this is particularly important. If the tax levied, you either choose to pay it or there are consequences.

At best, bitcoin becomes a sort of bank account in the Caymans.


#265

Only in the sense that it’s easy to steal the presidential limo. Leaving the keys in the ignition with the car unlocked will do that.

It’s already taxed. Capital gains applies if you profit. Same as any other currency trading. What type of tax are you talking about exactly?

At best, bitcoin becomes a currency that isn’t influenced by -insert your govt being a fuckup instance here-

Cryptos threaten the power of the world’s govts. While I believe they’ll eventually do something to kill it, it doesn’t make it less of a good idea to take power back from those that control everything.


#266

Ya, I’m probably misunderstanding something. I thought that being able to buy it at virtually any price would have some sort of impact, but I’m a finance newb.


#267

Cynical me thinks most people aren’t investors, contrary to what they may say publicly on forums like Crypto Reddit. I think you’re right about many being parrots, and I think they’re parroting when they say they’re in for the tech and not the money.

I wonder what they think about the price if it dips below 6k.


#268

Some of the people screaming HODL and still spreading hype are doing that to create a temporary price increase so they can dump their holdings lol.

When there was the trollbox(like a real time chatbox) at the poloniex exchange, there were assholes who would start spamming with it their intent to start buying in unison, leading to a spike in price, then they would start shorting. What’s worse was, since it was in real time, they would start mocking the fomo buyers who caused the price spike, calling them “suckers” and then start yelling, “ETH crashing!”. 10-20% swings in under 10 mins.

I think we will. Volume is still very low. Let’s see if this current bounce causes at least a temporary reversal. I’m estimating 5600+/- before a real reversal can happen.


#269

I hope you’re right… I have a buy order sitting at $15 for ETC.


#270

Just going by probability taking volume into account. Check your chart. Mid 5000s is where it hits the trendline and the 0.764fib retracement overlaps the major support level so it’s a strong buyer zone.

However, the market’s still very unpredictable, which is why I’m accumulating at different levels.


#271

You using Fibonacci retracements? We have us a bona fide day trader in the house.


#272

Lol I don’t day trade. Don’t have the time. Picked up TA almost 20 years ago while still in school. I think Chris and Skyzz also dabble in it so I’m describing what I see in the chart.


#273

ARRGH! WHY???


#274

When the economy flops, the internet steps up to take care of its own. Duh.


#275

Is that some kind of ironic hipster joke? I thought Dogecoin was a junker made up as a joke?

Or are people just buying on the rise?


#276

Know what? Here

Educate yourself good sir. The internet requires it.


#277

Also looking at 1y dogecoin at a glance it started around .000205 USD and peaked at .018628 USD. That’s what? Almost 100x return at peak? And trading volume is 100mil+ for that period.

Imagine going back in time,
-getting some cash together to get in btc early.
-Eventually cash out a decent amount to dump into dogecoin.
-???
-MAKE LITERAL MILLIONS ON DOGECOIN
fokin wot?


#278

I had no idea it was such a thing. On the other hand, one of my brothers did own a shiba inu for a long time. Great pooch. There is a cool (heart breaking, maybe) story and statue about one in Japan too. Can’t remember the name of it though to lead you to it.


#279

If you have the time and the savviness, you can trade the inconsistencies between ETH/BTC/UST.


#280

Check out the historical LTC/BTC chart - you can (could) ride a wave for 10-15% gains every swing