Jump to content

Epic Pennant on BTC Chart


Recommended Posts

  • Replies 7.2k
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

Just taking the time to say a huge thank you to you @Eric123. I have been reading this thread daily for a long time now. I don't often sign in to post something so this thank you and acknowledgment of

I was a bit bored, so I decided to analyse the reactions in the first 404(!) pages of this thread. In those 404 pages, 3938 comments received a reaction, and in total there were 11515 reactions g

@Eric123 My perspective is a bit different;  in my opinion the alt season begins once BTC momentum tapers off and the price becomes stuck.  While this may take place after BTC hits some ridiculous ATH

Posted Images

TA and charts aren't useful in the face of Corona Virus so right now they are all sort of useless.

However, this volatility is golden for daytrading and swinging. I actually improved XRP position by 20% on my swing stack, a gain of several XRP by swing trading due to this BTC/XRP volatility so all was not bad.

Edited by Archbob
Link to post
Share on other sites

If it get around 9 cents I will dca to 0.3c with the next pump to 0.2 cents to 0.3 cents I will get out, for good. I don't see any other way to get out of this otherwise. I don't believe there will  be any more bullruns happening. So the only way to get your money back is to dca down (if your dca isn't around ath atleast).

 

Link to post
Share on other sites
5 hours ago, Eric123 said:

Easily? Not easily.  And even if it could be done easily, it is not a traders liquidating a positions for cash because no one owned 200 million litecoin this morning.  60 some million in existence maybe trade able coins are less than half that.

I used to run a business which often would see volume of over $1m per day, even if profit for that day was as low as say $5k. Volume is of course going to be higher at times like this, as people are buying, selling, and borrowing to short... etc etc. 

Link to post
Share on other sites

Picked up some more Bitcoin today.  Wonder when the panic will peak, maybe it was yesterday maybe things will get crazier, exciting times we live in.  Bargain shoppers can pick up some cheap coins - let's see if it works out for us.

 

4 hours ago, JA8 said:

I used to run a business which often would see volume of over $1m per day, even if profit for that day was as low as say $5k. Volume is of course going to be higher at times like this, as people are buying, selling, and borrowing to short... etc etc. 

I am not talking about low margin profits.  I am talking about fraud. 

If you want to naked short a stock (sell a stock without owning it), the brokerage company has to already have the stock in an account and loan it to you or it has to source the stock then loan it to you.  The exchange cannot sell a stock without having the stock in an account.  

Now I could be wrong, but what I am alleging is that Exchanges are shorting and letting traders short coins they don't have and never had.  For instance, I'm sure if I had enough $ and I wanted to Short 100,000,000 litecoins an exchange would let me, even though there are not more than 66,000,000 litecoins in existence.  They are putting in the orders without having the actual coins.

Alternately if you make a purchase on an exchange you would assume the exchange has the coin in an account or sources the coin for you.  I'm again alleging most exchanges are not doing this and customers balances are backed up by only a fraction of the actual coins.  So if customers tried to remove their coins the Exchanges would default.  

 

 

 

Link to post
Share on other sites
42 minutes ago, Eric123 said:

Picked up some more Bitcoin today.  Wonder when the panic will peak, maybe it was yesterday maybe things will get crazier, exciting times we live in.  Bargain shoppers can pick up some cheap coins - let's see if it works out for us.

 

I am not talking about low margin profits.  I am talking about fraud. 

If you want to naked short a stock (sell a stock without owning it), the brokerage company has to already have the stock in an account and loan it to you or it has to source the stock then loan it to you.  The exchange cannot sell a stock without having the stock in an account.  

Now I could be wrong, but what I am alleging is that Exchanges are shorting and letting traders short coins they don't have and never had.  For instance, I'm sure if I had enough $ and I wanted to Short 100,000,000 litecoins an exchange would let me, even though there are not more than 66,000,000 litecoins in existence.  They are putting in the orders without having the actual coins.

Alternately if you make a purchase on an exchange you would assume the exchange has the coin in an account or sources the coin for you.  I'm again alleging most exchanges are not doing this and customers balances are backed up by only a fraction of the actual coins.  So if customers tried to remove their coins the Exchanges would default.  Essentially, the buyer and seller participate in a transaction based only on the price movement of the share, not on the stock itself.

 

 

 

People trading with leverages are trading in CFD's,  basically a financial arrangement in which trades take place without ownership of the asset changing hands Essentially, the buyer and seller participate in a transaction based only on the price movement of the share, not on the stock itself. 

Edited by Trentsteel
Link to post
Share on other sites
42 minutes ago, Trentsteel said:

People trading with leverages are trading in CFD's,  basically a financial arrangement in which trades take place without ownership of the asset changing hands Essentially, the buyer and seller participate in a transaction based only on the price movement of the share, not on the stock itself. 

Yeah but if you are trading a contract for difference it doesn't show up in the volume traded because you are not actually trading the stock.

Link to post
Share on other sites
4 hours ago, Baka said:

the main question is ; are we going down more or not , is it possible we get under 3k$ BTC

Nobody knows. Hadn’t bought anything in a long time but I picked up some xrp at 15c. This plummet came out of nowhere so I’m confident it’ll bounce up. 

Link to post
Share on other sites
11 hours ago, Eric123 said:

Picked up some more Bitcoin today.  Wonder when the panic will peak, maybe it was yesterday maybe things will get crazier, exciting times we live in.  Bargain shoppers can pick up some cheap coins - let's see if it works out for us.

 

I am not talking about low margin profits.  I am talking about fraud. 

If you want to naked short a stock (sell a stock without owning it), the brokerage company has to already have the stock in an account and loan it to you or it has to source the stock then loan it to you.  The exchange cannot sell a stock without having the stock in an account.  

Now I could be wrong, but what I am alleging is that Exchanges are shorting and letting traders short coins they don't have and never had.  For instance, I'm sure if I had enough $ and I wanted to Short 100,000,000 litecoins an exchange would let me, even though there are not more than 66,000,000 litecoins in existence.  They are putting in the orders without having the actual coins.

Alternately if you make a purchase on an exchange you would assume the exchange has the coin in an account or sources the coin for you.  I'm again alleging most exchanges are not doing this and customers balances are backed up by only a fraction of the actual coins.  So if customers tried to remove their coins the Exchanges would default.  

 

 

 

It may go lower, decided if I should buy XRP or BTC.  

Link to post
Share on other sites
14 hours ago, Eric123 said:

Picked up some more Bitcoin today.  Wonder when the panic will peak, maybe it was yesterday maybe things will get crazier, exciting times we live in.  Bargain shoppers can pick up some cheap coins - let's see if it works out for us.

 

I am not talking about low margin profits.  I am talking about fraud. 

If you want to naked short a stock (sell a stock without owning it), the brokerage company has to already have the stock in an account and loan it to you or it has to source the stock then loan it to you.  The exchange cannot sell a stock without having the stock in an account.  

Now I could be wrong, but what I am alleging is that Exchanges are shorting and letting traders short coins they don't have and never had.  For instance, I'm sure if I had enough $ and I wanted to Short 100,000,000 litecoins an exchange would let me, even though there are not more than 66,000,000 litecoins in existence.  They are putting in the orders without having the actual coins.

Alternately if you make a purchase on an exchange you would assume the exchange has the coin in an account or sources the coin for you.  I'm again alleging most exchanges are not doing this and customers balances are backed up by only a fraction of the actual coins.  So if customers tried to remove their coins the Exchanges would default.  

 

 

 

I'm glad you are pointing this out and a well written out way. I've been saying that for years. These exchanges are allowing trades to happen with coins that don't exist. That's another reason why nobody has any ******* clue what actual market value for these digital assets are. The only time exchanges have to actually prove they have coins is when you send from one exchange to another and/or when you withdraw to your own wallet.

Link to post
Share on other sites

That’s probably true in some or even many cases.  But I think there are exchanges where it’s very unlikely that they are fractional lending.  Bitstamp for instance.  Or BTCMarkets in Australia.  They are regulated and required to be legit.  Even then some may be shonky while regulated,  but I think it’s probably not a general thing to be shonky.  But I might be the greater fool.  :) 

For a start I doubt it’s true in any ODL enabled exchange (which is why I mentioned those two).

Link to post
Share on other sites
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.