Re: Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

by **Watch Out Pylon!** 5/15/2019, 4:54 pm

It's alive!!!!

Why is bitcoin surging? -- Here are 4 possible explanations
BY MarketWatch
— 11:54 AM ET 05/13/2019
The digital currency is back on the rise

If you haven't heard, bitcoin is back. The digital currency stormed higher on Sunday, trading to a 9-month high above $7,500, capping of a weekly gain of more than 20%.

Bitcoin's resurgence has it on track to log four successive winning months -- this after recording six losing months in a row, an unflattering record it had never previously achieved.

The bitcoin rally has now surpassed 100% from its cycle low in December 2018 and is up nearly 90% on the year.

So what's behind the rally bitcoin? Here are four potential answers:

Technically driven

One thing the bitcoin rally has done is bust through some closely watched technical levels. Whether it's the resistance at $4,000, the psychological $5,000 mark or some key momentum indicators, the technical outlook has flipped from lower highs to higher lows.

"Bitcoin's long-term technical profiles continue to point to a new up cycle," wrote chart watcher Rob Sluymer of Fundstrat Global Advisors.

"With bitcoin now back to a resistance band near $6,000 (it breach the resistance band late Friday), similar to where it was in Q2 2015, a pullback would not be surprising. However, rather than sell or attempt to micromanage bitcoin exposure, we would strongly encourage investors to remain focused on the longer-term bottoming profile developing," he said.

Moreover, bitcoin broke above the closely observed 200-day moving average, and on April 23, the digital asset scored a golden cross (http://www.marketwatch.com/story/bitcoin-scores-a-golden-cross-and-now-everyone-is-bullish-2019-04-23), where the 50-day moving average crosses above the 200-day moving average -- underlining its upside momentum.

Read:Bitcoin rises from the ashes (https://www.barrons.com/articles/bitcoin-rises-from-the-ashes-51557252371)

The adoption argument

Arguably, bitcoin's biggest battle is getting people to use it. Whether as a store of value or a medium of exchange, digital assets have struggled to garner attention, especially from institutional investors.

But, according to a recent Fidelity survey, this is slowly changing. The Boston-based asset manager said nearly half of institutional investors believe digital assets can play a role in their portfolio, while 22% already own some form of digital currency.

"We've been seeing steady growth and adoption in the industry, and prices are starting to get in line with the usage of bitcoin," said Mati Greenspan, senior market analyst at eToro.

Read:More than 20% of institutional investors already own digital assets, Fidelity survey finds (http:// www.marketwatch.com/story/more-than-20-of-institutional-investors-already-own-digital-assets-fidelity-survey-finds-2019- 05-02)

Is sentiment shifting?

Bitcoin, for the first time in a while, is shrugging off bad news. The industry, which is prone to negative headlines, including exchange heists and malfunctions, or the use of cryptos for illicit activity (http://www.marketwatch.com/ story/there-has-been-an-uptick-in-criminal-and-terrorist-exploitation-using-virtual-currencies-says-house-committee- 2018-06-21), has been back in the headlines.

"The fact the Binance news was shrugged off was telling. Add in the Bitfinex debacle and you can see that the sentiment really is rising," Greenspan added.

Binance, one of the largest cryptocurrency exchanges said on Tuesday that hackers stole more than $40 million worth of bitcoin. And on April 26, the New York Attorney General accused crypto exchange Bitfinex and Tether of an $850 million coverup (http://www.marketwatch.com/story/bitcoin-tumbles-after-new-york-accuses-bitfinex-of-using-tether-reserves-to- cover-up-missing-850-million-2019-04-26).

But the digital currency barely flinched. After a momentary selloff, bitcoin resumed its march higher.

Read:More than $40 million in bitcoin stolen in hack of world's biggest cryptocurrency exchange (http:// www.marketwatch.com/story/more-than-40-million-in-bitcoin-stolen-in-hack-of-worlds-biggest-cryptocurrency-exchange-2019- 05-08)

Are people actually dropping gold?

Or maybe people are trading in a popular haven asset for a slice of digital currency.

On May 1, Grayscale Investments, a subsidiary of Digital Currency Group, kicked off a provocative ad campaign to promote bitcoin as a better alternative to gold. The campaign, which employed the social-media hashtag #DropGold, promoted bitcoin as a better store of value, arguing it's more secure and borderless.

Read:Bitcoin tycoon Silbert kicks off ad campaign against 'overpriced metal' gold (http://www.marketwatch.com/story/ bitcoin-tycoon-silbert-kicks-off-ad-campaign-against-overpriced-metal-gold-2019-05-01)

And, it turns out the gold bugs were watching. A day after the campaign launched, the World Gold Council rolled out another explanation as to why cryptocurrencies are no substitute to gold. "Cryptocurrencies extreme daily and intraday volatility disrupts its use as a medium of exchange and discourages strategic investments," wrote Adam Perlaky (https:// www.gold.org/goldhub/gold-focus/2019/05/cryptocurrencies-are-no-replacement-gold), manager of investment research at the World Gold Council.

But, maybe the ad got some investors reassessing their gold investments. On May 7, six days after the ad kicked off, the Grayscale Bitcoin Trust ( GBTC
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) topped the list of the most actively traded stock on OTC Market Group.

(https://twitter.com/barrysilbert/status/1125899749624832003)

As always, there are myriad theories behind each and every bitcoin move, but after a torrid 18 months for bitcoin bulls, it doesn't really matter why it's up. And on Monday, bitcoin was continuing its run of wins, trading higher by 8% near $7,700.

-Aaron Hankin; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires
05-13-19 1154ET
Copyright (c) 2019 Dow Jones & Company, Inc.

by **kingstonlake** 5/15/2019, 4:58 pm

Bullshit. Its trade war fever. Bitcoin wizards speculating on destabilization of the dollar and yuan.

Imho....

by **Nordic** 5/15/2019, 5:57 pm

We gonna be so rich

by **Wally Fairway** 5/28/2019, 8:03 am

I miss tTy and his cryptocurrency enthusiasm fueled rants...I used to keep up with him on the twitters, but he gone there too.

Saw this today and it made me think about this thread & tTy. I hope he is safe in his bunker, and doing well counting his precious metals and cryptos.

https://www.marketwatch.com/story/bitcoin-ready-to-blast-past-10000-says-analyst-2019-05-28?mod=mw_theo_homepage

Should bitcoin reach $10,000, then $15,000 is the next big resistance level, he says. But it’s also possible to see the price reach $12K or $13K before falling back to a support level of $8,000, then momentum may push it back up to $15,000, he claims. wrote:

by **Watch Out Pylon!** 5/28/2019, 8:14 am

I just need my holdings to double instead of triple to break even from the last time I touched it. LAMBO BABY!

by **Watch Out Pylon!** 6/27/2019, 8:16 am

Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask) - Page 3 Gbtc11

Just sayin'.

by **steveschneider** 6/27/2019, 8:24 am

KO touched 52 dollars and is staying in the 51.00 range. Bought into this one in the mid 40s. Going to hold this one for a while the future is looking bright.

by **Watch Out Pylon!** 6/27/2019, 8:26 am

I feel like the ghoost of Ty when I bump this thread... without the drunk misplaced anger.

by **Nordic** 6/27/2019, 8:36 am

Still have original purchase at ~1600 am I rich?

by **Watch Out Pylon!** 6/27/2019, 8:41 am

Nordic wrote:Still have original purchase at ~1600 am I rich?

Currently $11,990. I'd say that's a hefty increase. But really, what do you consider being rich? Conversing with you fine gentlemen (& Dendro) on this board makes me feel rich.

by **DWags** 6/27/2019, 8:51 am

I could use 12k for a new deck. I would t feel rich but I’d be happier

by AvgMSUJoe 6/27/2019, 8:55 am

DWags wrote:I could use 12k for a new deck. I would t feel rich but I’d be happier

The only goofyass country song I found amusing.

Money can't buy everything
Well, maybe so,
But it could buy me a boat

by **Floyd Robertson** 6/27/2019, 8:56 am

DWags wrote:I could use 12k for a new deck. I would t feel rich but I’d be happier

Vote for Yang, you'll have the $12k 12 months after inauguration.

by **DWags** 6/27/2019, 8:59 am

Floyd Robertson wrote:
DWags wrote:I could use 12k for a new deck. I would t feel rich but I’d be happier

Vote for Yang, you'll have the $12k 12 months after inauguration.

I’ll vote 12 times.

by **steveschneider** 6/27/2019, 9:04 am

Watch Out Pylon! wrote:
Nordic wrote:Still have original purchase at ~1600 am I rich?

Currently $11,990. I'd say that's a hefty increase. But really, what do you consider being rich? Conversing with you fine gentlemen (& Dendro) on this board makes me feel rich.

I’d probably sell but who knows. Maybe there’s more to be made.

by **InTenSity** 6/27/2019, 9:44 am

I'm almost back to B/E on the litecoin. I should have bought more when it was $22, but now I know why people are nervous buying near the bottom. You don't know where the bottom is going to be, and that $22 could have easily slid down to a $5 and held at $25, or do what it is doing now and go up to $100+.

by **kingstonlake** 7/14/2019, 12:22 pm

Is tTy enjoying his Litecoin retirement? Currently sitting at $9000 a coin. Wait, check that. $90....

by **Watch Out Pylon!** 7/14/2019, 4:43 pm

by **kingstonlake** 7/16/2019, 10:34 pm

Bump for $77..........

by **Tim Wakefield** 9/24/2019, 4:02 pm

Falling off a cliff right now. $8200. Tempting ...

by **kingstonlake** 9/24/2019, 5:14 pm

Didn’t the nyse announce bitcoin futures?

by **steveschneider** 9/24/2019, 5:19 pm

Been crushing it with KO this year. Created a big position in T and road it up from 32 a ways and just bought in again.

by **tGreenWay** 9/24/2019, 5:23 pm

kingstonlake wrote:Is tTy enjoying his Litecoin retirement? Currently sitting at $9000 a coin. Wait, check that. $90....

Betcha Ty is shotgun feishing right meow.

by **Watch Out Pylon!** 9/24/2019, 6:19 pm

Bitcoin is trending slightly down over the last six months. Still really really volatile. I'd stay away for now.

by **Wally Fairway** 11/6/2019, 1:31 pm

WSJ podcast about bitcoin manipulation in 2017

https://www.wsj.com/podcasts/the-journal/bitcoin-comes-untethered/879a0b61-93ff-4ec8-bf92-5a609fe67a47

to all the Bitcoin wonks, I know this is fake news

by **Watch Out Pylon!** 11/6/2019, 3:24 pm

Wally Fairway wrote:WSJ podcast about bitcoin manipulation in 2017

https://www.wsj.com/podcasts/the-journal/bitcoin-comes-untethered/879a0b61-93ff-4ec8-bf92-5a609fe67a47

to all the Bitcoin wonks, I know this is fake news

I'm just hoping it can get back to a certain price point so I can cash out even from my last buy in around January, 2018. Basically it needs to double at this point. I needed it to triple about 6 months back so I got that going for me, which is nice.

I'm still way up from that 2017 run up, so it's not all bad.

by **Dendrobates** 11/6/2019, 9:13 pm

So I am pretty ignorant to this stuff. And investing in general (I contribute to 401k, 529, and hubby IRA) but overall, I know little. I never know where to start. It's all so overwhelming, but I could use the knowledge.

So these online currencies, are they worth a complete newb like me getting into it? Or is the market way too expensive to attempt at the moment?

by **Watch Out Pylon!** 11/7/2019, 9:08 am

Dendrobates wrote:So I am pretty ignorant to this stuff. And investing in general (I contribute to 401k, 529, and hubby IRA) but overall, I know little. I never know where to start. It's all so overwhelming, but I could use the knowledge.

So these online currencies, are they worth a complete newb like me getting into it? Or is the market way too expensive to attempt at the moment?

I mean yeah, you could get into cryptos but there are soooooo many safer options out there. Especially if you're looking into getting into investments outside of your 401k for the first time. I'd start an IRA through Fidelity if I were you. Tons of options to choose from there including Over The Counter (OTC) funds. These are funds not listed on any official exchange. You can get pretty wild on what you can invest with here.

Anyway, I made a good chunk of money from Bitcoin's crazy increase back at the end of 2017. Since then it plummeted in early 2018 and hasn't done much of anything since. Bitcoin has been shown to be pretty unreliable. There are some huge gaps in security with online coins. Billions have been stolen by hackers (see below). There is a way to protect your investment, but obviously a lot of people aren't doing that.

Finally the biggest problem with cryptos are that most people still view them as an investment and not an alternate form of currency. I believe a few Subways around the nation allow you to buy subs with crypto but it's cumbersome (watch the video and read the first few comments about how much Bitcoin inflated back then). And with how volatile everything is you could be paying $5 for a 12" sub one day and in a month that same crypto to dollar exchange rate could be $600 if another manipulation takes place.

https://www.forbes.com/sites/jeanbaptiste/2019/08/15/hackers-stole-over-4-billion-from-crypto-crimes-in-2019-so-far-up-from-1-7-billion-in-all-of-2018/#55496db155f5

by **Watch Out Pylon!** 11/7/2019, 11:21 am

Also, not related to Bitcoin at all, watch The Big Short. It's an excellent movie about the housing market bubble back in 2008ish. I just really like this movie.

by **tGreenWay** 11/7/2019, 11:29 am

Watch Out Pylon! wrote:

Also, not related to Bitcoin at all, watch The Big Short. It's an excellent movie about the housing market bubble back in 2008ish. I just really like this movie.

Proving once again that Pylon can turn any topic into something about himself. What a narcissist.

by **Watch Out Pylon!** 11/7/2019, 1:41 pm

tGreenWay wrote:
Watch Out Pylon! wrote:

Also, not related to Bitcoin at all, watch The Big Short. It's an excellent movie about the housing market bubble back in 2008ish. I just really like this movie.

Proving once again that Pylon can turn any topic into something about himself. What a narcissist.

Have you seen the movie? It's really good.

by **tGreenWay** 11/7/2019, 3:11 pm

Watch Out Pylon! wrote:
tGreenWay wrote:

Proving once again that Pylon can turn any topic into something about himself. What a narcissist.

Have you seen the movie? It's really good.

This isn’t about me; it’s about you making everything about you. But good try, you sneaky bastard.

by **Watch Out Pylon!** 11/7/2019, 4:29 pm

tGreenWay wrote:
Watch Out Pylon! wrote:

Have you seen the movie? It's really good.

This isn’t about me; it’s about you making everything about you. But good try, you sneaky bastard.

:(

by **Dendrobates** 11/7/2019, 5:40 pm

Watch Out Pylon! wrote:
tGreenWay wrote:

Proving once again that Pylon can turn any topic into something about himself. What a narcissist.

Have you seen the movie? It's really good.

It is a pretty good movie.

by **tGreenWay** 11/7/2019, 8:51 pm

Dendrobates wrote:
Watch Out Pylon! wrote:

Have you seen the movie? It's really good.

It is a pretty good movie.

Please don’t encourage him, Dendro.

by **steveschneider** 12/20/2019, 9:55 am

Looking at my portfolio I've fucking crushed it this year. Coca Cola and AT&T were stellar performers. Made a lot off square space again and a few other health care/tech stocks.

I know the OP was constantly warning against investing in the stock market but man it has been easy money the last couple of years. Is a crash coming? I'm sure it but the party should still continue on for now.

by AvgMSUJoe 12/20/2019, 10:50 am

steveschneider wrote:Looking at my portfolio I've fucking crushed it this year. Coca Cola and AT&T were stellar performers. Made a lot off square space again and a few other health care/tech stocks.

I know the OP was constantly warning against investing in the stock market but man it has been easy money the last couple of years. Is a crash coming? I'm sure it but the party should still continue on for now.

Ty was scared of Obama taking all the guns and starting a new civil war too... so, ya know. Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask) - Page 3 1431518612

Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask) - Page 3 1431518612

by **steveschneider** 12/20/2019, 11:08 am

AvgMSUJoe wrote:
steveschneider wrote:Looking at my portfolio I've fucking crushed it this year. Coca Cola and AT&T were stellar performers. Made a lot off square space again and a few other health care/tech stocks.

I know the OP was constantly warning against investing in the stock market but man it has been easy money the last couple of years. Is a crash coming? I'm sure it but the party should still continue on for now.
Ty was scared of Obama taking all the guns and starting a new civil war too... so, ya know.

Heh, I think the threat of starting a new civil war is the new 'old man shouting at the clouds' trope. I saw a guy shouting about how there will be another one at the MAGA rally in Hershey, PA. He looked totally unhinged.

by **Watch Out Pylon!** 12/20/2019, 11:24 am

steveschneider wrote:Looking at my portfolio I've fucking crushed it this year. Coca Cola and AT&T were stellar performers. Made a lot off square space again and a few other health care/tech stocks.

I know the OP was constantly warning against investing in the stock market but man it has been easy money the last couple of years. Is a crash coming? I'm sure it but the party should still continue on for now.

Really solid year. Most of my money is in mutual funds. VINIX is one of my big hitters. +30% YTD. FLCNX is another in the 30% club. I'm sitting at +26% YTD. Outpacing the indices. I'll take it.

by **steveschneider** 12/20/2019, 11:38 am

Watch Out Pylon! wrote:
steveschneider wrote:Looking at my portfolio I've fucking crushed it this year. Coca Cola and AT&T were stellar performers. Made a lot off square space again and a few other health care/tech stocks.

I know the OP was constantly warning against investing in the stock market but man it has been easy money the last couple of years. Is a crash coming? I'm sure it but the party should still continue on for now.

Really solid year. Most of my money is in mutual funds. VINIX is one of my big hitters. +30% YTD. FLCNX is another in the 30% club. I'm sitting at +26% YTD. Outpacing the indices. I'll take it.

Congrats, that's incredible.

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