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Thread: Bitcoin

  1. #796
    Senior Member upside_umop's Avatar
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    Quote Originally Posted by bull.... View Post
    im going for those previous highs to be taken out one day on the assumption cny weakness will cause demand
    That scares me bull Are you trading on the assumption that if it hits ATH, that because in the past it has continued to reach 10-20 times previous highs, it will do it again?
    By the way - it's upside_down, not upside_umop

  2. #797
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    Quote Originally Posted by upside_umop View Post
    That scares me bull Are you trading on the assumption that if it hits ATH, that because in the past it has continued to reach 10-20 times previous highs, it will do it again?
    im thinking another attempt around the recent 13k mark not ath
    bull

  3. #798
    Senior Member upside_umop's Avatar
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    Still hodling my short here. IG is great, pays out 50 in interest a week on this position....
    But it still freaks me the f out how irrational this market is.
    By the way - it's upside_down, not upside_umop

  4. #799
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    Quote Originally Posted by upside_umop View Post
    Still hodling my short here. IG is great, pays out 50 in interest a week on this position....
    But it still freaks me the f out how irrational this market is.
    looks like its trading a range now. 50 a week for longs not so good eh
    bull

  5. #800
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    NZ becomes one of the first nations to create the framework for employees to receive crypto as part if their wages.

    https://bitcoinmagazine.com/articles/bitcoin-is-now-a-legal-form-of-payment-in-new-zealand

  6. #801
    Senior Member upside_umop's Avatar
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    Quote Originally Posted by bull.... View Post
    looks like its trading a range now. 50 a week for longs not so good eh
    The longs are triple that interest cost - the margin between short and long is IG's take

    I'm still not sure how IG hedge their trade and whether they take out positions in the underlying. I.e. When i short, do they also short? I assume they must somewhere.
    By the way - it's upside_down, not upside_umop

  7. #802
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    Quote Originally Posted by upside_umop View Post
    The longs are triple that interest cost - the margin between short and long is IG's take

    I'm still not sure how IG hedge their trade and whether they take out positions in the underlying. I.e. When i short, do they also short? I assume they must somewhere.
    triple the interest costs yuk better get the trade right then eh if your gonna trade CFD'S
    bull

  8. #803
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    Anyone holding BNB and doing launchpads? Not sure whether to keep BNB. Doesn't seem worth it

  9. #804
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    watch from 1hr15min ---Dan Pena on bitcoin "if you knew who started BTC your'd Fn sell it" its going to ZERO!!!

    https://www.youtube.com/watch?v=g5IKVA2W1zc

    DAN PENA is worth 50 billion ++++
    People don't have ideas, ideas have people

  10. #805
    Senior Member upside_umop's Avatar
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    Interesting comments - although bitcoin is decentralized, it really has very little current utility to justify it's price.

    I also believe there is a huge regulatory risk that is being mis-priced (i.e. black swan) - can you imagine if Trump came out and ordered a crack down on it in the USA? Like how they went after Silkroad for illegal activity? Yeah, sure people could still buy it and trade but there is all of a sudden an inherent risk and zero possibility of it being ever accepted in wide scale at US retailers. It would kill the dream.

    Then there's the other rumour that the US govt created bitcoin and could correspond with Dan Pena's comments as if it were true, it would go against everything hodlers stand for.
    By the way - it's upside_down, not upside_umop

  11. #806
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    Quote Originally Posted by upside_umop View Post
    Interesting comments - although bitcoin is decentralized, it really has very little current utility to justify it's price.

    I also believe there is a huge regulatory risk that is being mis-priced (i.e. black swan) - can you imagine if Trump came out and ordered a crack down on it in the USA? Like how they went after Silkroad for illegal activity? Yeah, sure people could still buy it and trade but there is all of a sudden an inherent risk and zero possibility of it being ever accepted in wide scale at US retailers. It would kill the dream.

    Then there's the other rumour that the US govt created bitcoin and could correspond with Dan Pena's comments as if it were true, it would go against everything hodlers stand for.
    Yes ... I've always thought the likes of a NSA was behind the rise of Crypto ... its well known the powers that be want a cashless society >> Crypto a great test case to see how plebs take-up the ideal of a digit wallet , peer to peer trans , the ideal its digit Gold etc....

    https://www.cnbc.com/2013/12/12/cash...ommentary.html
    People don't have ideas, ideas have people

  12. #807
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    Disbelief phase anyone?

    What are we going to witnesses in the coming days?

    The previous two times Bitcoin saw a +40% daily gain, BTC was trading at;

    -$0.40
    -$5.65

    The Bitcoin’s 42% swing that occurred in the last 24hr is the 3rd largest daily gain in price history��
    (Love being a part of history)

    Major weekly close approaching.

    To the idiots on the sidelines keep mocking morons...i love having someone to laugh at.

  13. #808
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    Quote Originally Posted by Paddles View Post
    Disbelief phase anyone?

    What are we going to witnesses in the coming days?

    The previous two times Bitcoin saw a +40% daily gain, BTC was trading at;

    -$0.40
    -$5.65

    The Bitcoin’s 42% swing that occurred in the last 24hr is the 3rd largest daily gain in price history��
    (Love being a part of history)

    Major weekly close approaching.

    To the idiots on the sidelines keep mocking morons...i love having someone to laugh at.
    think you meant to say

    "To the so called idiots on the sidelines keep mocking us morons" I'm sure we will be the butt of the joke soon enough.

    the general lack of interest in crypto even for retail investors, said Sid Shekhar, co-founder of London-based Token Analyst. His firm, which tracks crypto data, found that the number of unique addresses sending Bitcoin to exchanges like Binance and Bitfinex has been declining ever since the market peaked back in 2017.
    People don't have ideas, ideas have people

  14. #809
    Senior Member upside_umop's Avatar
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    Quote Originally Posted by Paddles View Post
    Disbelief phase anyone?

    What are we going to witnesses in the coming days?

    The previous two times Bitcoin saw a +40% daily gain, BTC was trading at;

    -$0.40
    -$5.65

    The Bitcoin’s 42% swing that occurred in the last 24hr is the 3rd largest daily gain in price history��
    (Love being a part of history)

    Major weekly close approaching.

    To the idiots on the sidelines keep mocking morons...i love having someone to laugh at.
    Not disbelief as it has had rally's like this before - the only difference with this is it being a short squeeze at the same time. That combined with the fact IG was closing over the weekend would surely have caused some nervousness with the leveraged traders unwinding their positions.

    In anycase, I don't see this as the continuation of the next "bull run." I think the ~$10.4k we saw was the peak for this time around and will continue below $7k.

    Disc: I got stopped out at $8.4k and tried to short again and then closed at $8.6k so was quite lucky. I won't be taking another position though.
    By the way - it's upside_down, not upside_umop

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