Jump to content

Epic Pennant on BTC Chart


 Share

Recommended Posts

Probably just a server failure, so the data is not there. Maybe worth verifying using other data sources?  

Edited by Guest
Cant spell sources properly
Link to comment
Share on other sites

7 hours ago, dr_ed said:

People who hold extreme views about TA and it's lack of relevance are speaking out of pure ignorance.

It's really quite disappointing that you still try to subtly and passive-aggressively prod at people who oppose your approach on investments, or what you support, and claim that it can only be because they're "ignorant." There are psychological traits being revealed, possibly a superiority complex. I can only feel bad that this is how structured discussions play out.

Meanwhile, I'll be interested to see what happens to the market after whatever light pull back is going on right now. I have not come across any news that triggered it, but it's entirely possible that it's a short-term dip. Just hoping for no panic dropoff 'cause I feel like we need to spend some time in the 40's to keep people stable.

Link to comment
Share on other sites

Let me be perfectly clear. Your disappointment is not a concern of mine.I'm going to put you on ignore too.

At this time, we are experiencing perfectly normal market action. Not even close to anything to worry about. Glad you're aware your chosen asset has a chart, at least. 

Link to comment
Share on other sites

30 minutes ago, Baka said:

Don't tell me we re going to see the 0.3x again , oh no..

Get a grip man and even to those who were expecting a surge up without any correction 

this place is manipulated to hell as you could see with the BTC 400 point pump and dump, no alt coin followed ! This is how it is at the moment, hell it may swing another 10% back up in the coming days. To me this was expected.... just saying, it’s not all up hill to the promised land, so don’t get disheartened just yet👍

Link to comment
Share on other sites

I'm intrigued by Galgitron's claim today that Bitcoin is essentially a Ponzi. I presume he means that if the bulk of Bitcoin is held in monstrous amounts by relatively few people, how they might act and affect price if it reaches $1m+ and the effect that would have on smaller holders? I've got some and far more XRP, so hedging my bets, but it's very confusing out there when trying to dissect the way everything might go.

Link to comment
Share on other sites

Read Galgitron's many blog posts on this subject to understand his POV,  which is quite reasonable, but it's not necessarily the ONLY reasonable view, imho.

At the heart of it, BTC has insurmountable problems that certainly look to prevent it from being what it was supposed to be, which was "the cash of the internet." Some people who love BTC think it can be "fixed". Galgitron says a firm "No!" to that. I expect he's most likely correct. 

XRP is, or can be...and probably will eventually be, what BTC was supposed to be. That's definitely correct as far as I'm concerned.

And whales with fat bitcoin wallets who understand this situation appear to be manipulating the markets to take their wealth out of BTC at the same time they are publicly stating that it's the only crypto worth owning. That's the real Ponzi, if you believe that assertion is true. It sure looks that way to me. 

But right now, today, BTC is serving as a store of value for some people in some places. But it could (theoretically) easily be successfully subjected to a 51% attack, because almost all the miners are in China, and in China, you do what the government says or you get in big trouble. The way mining has evolved, decentralization for POW coins and especially BTC, is largely an illusion, in Galgitron's view, and I'm on board with that.

I am agnostic myself on whether BTC will persist and act as  "digital gold" the way whales like Mike Novogratz claim. Because even if they don't believe it, they have good reason to say it and get the broad public to believe it. But the truth on that is not at all clear.

I usually don't hold BTC for very long, myself. Preferably less than a day. I know I can't ( and never would try) to speak for Galgitron. But I think I've presented this accurately. Glad to recant if I'm wrong (and you can prove it.)

 

Edited by dr_ed
Link to comment
Share on other sites

1 hour ago, dr_ed said:

I am agnostic myself on whether BTC will persist and act as  "digital gold" the way whales like Mike Novogratz claim. Because even if they don't believe it, they have good reason to say it and get the broad public to believe it. But the truth on that is not at all clear.

I am also uncertain as to the ultimate fate of BTC, and only hold a small amount in my Roth IRA in case it does go big. GBTC (Grayscale BTC Trust) is at a high premium, but it can be withdrawn tax-free, so hopefully will grow some more...

Sure wish I could hold XRP in my Roth ;)

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share



×
×
  • 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.