Originally Posted by Eleazar:
When everyone is crowing about how much money they are making, you are dealing with a bubble. My guess is that the only people who will end up making any substantial real-world money on this have already sold.
Sounds like a post from every January since 2013 [Reply]
Interesting to think that it’s possible the CME group is responsible for building the value of Bitcoin up artificially over the 2-3 months leading up to their futures trading and then dumping the majority of the coins they bought at the same time the futures contracts went into effect where they bet on the price dropping.
It’s brilliant, really.
They profited HUGELY on Bitcoin, itself...profited HUGELY on the futures contracts and now will be able to re-buy Bitcoin at a dramatic discount while also profiting on the next round of futures contracts where they will likely bet on the price increasing. Or do another round of shorting it...to ultimately buy it all back for “pennies on the dollar”
The more I think about this being the fairly probable reality of the situation, the more it makes me want to get my money out to see what happens on the 26th/27th...when the next round of futures contracts start.
There was a Wall Street prominent trader that called for Bitcoin to hit 1000 in 2018...if that happens, the whole crypto market would have a massive drop from today...
...
I also find it VERY INTERESTING that during the last month (where CME has artificially manipulated the price of bitcoin) bitcoin is down 25.02% while Ethereum is up 43.32%.
LET ME SAY THAT AGAIN FOR THOSE THAT DIDNT CATCH IT...IN THE LAST MONTH, BITCOIN IS DOWN 25% while Ethereum is up 43%.
That’s a HUGE SWING.
I think Ethereum would be the top crypto right now if it weren’t for CMEs involvement with Bitcoin.
ITS BECAUSE CME BOUGHT UP BILLIONS IN BITCOIN TO PROP UP THE PRICE BEFORE FUTURES TRADING OPENED AND THEN DUMPED IT ALL ON OVERSEAS EXCHANGES TO HIDE THE TRAIL!
Ethereum dropped a similar amount as bitcoin during the crash CME caused, but has bounced back to 80% of its high (people are buying into the superior technology)..while Bitcoin has struggled to get back to 60% of its high without CME artificially pumping up the price.
Gonna be interesting to see what happens on January 26th/27th. [Reply]
I’m not a fan of a company that it’s founder sold off all of his coins.
Tech wise, it’s decent, though.
It got all the upgrades bitcoin got, iirc. It was kinda used as an alternative to bitcoin when the network is congested. It’s also the cheapest crypto on coinbase...so it’s possible a lot of people will buy it in the coming months.
I’m with taco on Cardano and ripple now that they have dropped in price...but Ethereum is gonna be the one bitcoin hands the baton off to. Ethereum has a lot of upgrades its working on that will pump the price up. [Reply]
Originally Posted by BossChief:
I’m not a fan of a company that it’s founder sold off all of his coins.
Just a friendly reminder, these are not shares in a company...yet! Today people are simply accumulating stake in a network that they believe will gain utility and adoption in the future.
One day soon (and hopefully not due to catastrophic failure) companies will begin issuing shares on a blockchain. [Reply]
Originally Posted by BossChief:
Buckle up and read this with an open mind...
Interesting to think that it’s possible the CME group is responsible for building the value of Bitcoin up artificially over the 2-3 months leading up to their futures trading and then dumping the majority of the coins they bought at the same time the futures contracts went into effect where they bet on the price dropping.
It’s brilliant, really.
They profited HUGELY on Bitcoin, itself...profited HUGELY on the futures contracts and now will be able to re-buy Bitcoin at a dramatic discount while also profiting on the next round of futures contracts where they will likely bet on the price increasing. Or do another round of shorting it...to ultimately buy it all back for “pennies on the dollar”
The more I think about this being the fairly probable reality of the situation, the more it makes me want to get my money out to see what happens on the 26th/27th...when the next round of futures contracts start.
There was a Wall Street prominent trader that called for Bitcoin to hit 1000 in 2018...if that happens, the whole crypto market would have a massive drop from today...
...
I also find it VERY INTERESTING that during the last month (where CME has artificially manipulated the price of bitcoin) bitcoin is down 25.02% while Ethereum is up 43.32%.
LET ME SAY THAT AGAIN FOR THOSE THAT DIDNT CATCH IT...IN THE LAST MONTH, BITCOIN IS DOWN 25% while Ethereum is up 43%.
That’s a HUGE SWING.
I think Ethereum would be the top crypto right now if it weren’t for CMEs involvement with Bitcoin.
ITS BECAUSE CME BOUGHT UP BILLIONS IN BITCOIN TO PROP UP THE PRICE BEFORE FUTURES TRADING OPENED AND THEN DUMPED IT ALL ON OVERSEAS EXCHANGES TO HIDE THE TRAIL!
Ethereum dropped a similar amount as bitcoin during the crash CME caused, but has bounced back to 80% of its high (people are buying into the superior technology)..while Bitcoin has struggled to get back to 60% of its high without CME artificially pumping up the price.
Gonna be interesting to see what happens on January 26th/27th.
I agree that they manipulated the price with their futures contracts. But I see the opposite happening next. They'll pump it up again and go the long on this contract.
Originally Posted by MahiMike:
I agree that they manipulated the price with their futures contracts. But I see the opposite happening next. They'll pump it up again and go the long on this contract.
At least I hope...
I think a smart move is to pull all or half capital out of all cryptos within a day the contracts expire.
There have been a ton of sell orders placed at fairly low levels (12k for bitcoin and 1100 on Ethereum. Lots of people trying to get $ out at the short term peak.
Imo a lot of that is due to fear the market is going to drop significantly again and people want to protect their profits this time around. [Reply]
Originally Posted by BossChief:
I’m not a fan of a company that it’s founder sold off all of his coins.
Tech wise, it’s decent, though.
It got all the upgrades bitcoin got, iirc. It was kinda used as an alternative to bitcoin when the network is congested. It’s also the cheapest crypto on coinbase...so it’s possible a lot of people will buy it in the coming months.
I’m with taco on Cardano and ripple now that they have dropped in price...but Ethereum is gonna be the one bitcoin hands the baton off to. Ethereum has a lot of upgrades its working on that will pump the price up.
Ripple is a scam - hard pass.
Litecoin is soooooo much more than what you've described. It's LN's test ground and will have atomic swaps pronto. [Reply]
Originally Posted by BossChief:
GDAX has no fees on limit trades
Well...my understanding with GDAX is essentially one party always pays a fee. If you place an order that is immediately filled...you pay fee. (You fill someone elses order)
If you place an order...and someone fills it, they pay the fee.
So unless you always wait for someone to fill your orders, youll end up paying fees. [Reply]
Originally Posted by Pawnmower:
Well...my understanding with GDAX is essentially one party always pays a fee. If you place an order that is immediately filled...you pay fee. (You fill someone elses order)
If you place an order...and someone fills it, they pay the fee.
So unless you always wait for someone to fill your orders, youll end up paying fees.
That's true. It's limit buying but most of the time you can set one and get it bought within a minute or two. I kind of like setting a low limit buy down to where I think it'll drop to and then placing a sell limit on how high I think it'll go. If you want an instant buy because your afraid some big increase or decrease is going to happen, you can do it. It's a 0.25% fee on Bitcoin, 0.3% on LTC and ETH. [Reply]