RE: Shocking Crisis Coming to Cryptocurrency (in Sept?)
Do u think 0.032 is still coming for LTC? Thanks in advance!
I think so, but I’m not absolutely confident. Thus I’m also selling some BTC to $100 bills held under the mattress as well, to hedge my bets. Longer-term alternative to crypto is for example gold, but that could become quite illiquid in the coming global capital controls regime enveloping. My longer-term plan is the project I am working on which by the way, has been renamed Hypermesh from Bitnet (assuming my health will cooperate).
Do altcoins and LTC move up before the coming attack on SegWit starts? I think so. But what is the catalyst for LTC if BTC already has SegWit (or so everyone incorrectly thinks until the attack on BTC-SegWit begins). Nevertheless, I think LTC has been marvelously inversely correlated to BTC on LTCBTC on this parabolic blowoff top for BTC, so LTC would move in reverse when BTC declines. However, that might just keep the LTCUSD price from declining and not actually moving any higher relative to dollars. Yet as I wrote in my prior post, looks like LTCUSD has broken up out of a bullish wedge continuation pattern. Thus, overall I lean to BTC for LTC trade being wise as BTC moves to its coming peak (perhaps $5000+).
Notice that in November 2013, LTC made it’s rocket shot in only 2 days. Again in 2017, LTC was delayed in going up, not until after BTC had made a new ATH a few days prior. Zooming out on the LTCUSD chart, it is clearly rising in vertical moves in a staircase pattern. The next vertical move is $75 - $80. Thus yeah I’m reasonably confident about trading BTC for LTC.
Peak may have been hit yesterday as you were typing this
I was sleeping and missed the move to $4400. I had sent out a link yesterday on my private chat of a long-term hodler saying he would sell at that price.
Do you think we are still going higher for BTC? The volume on this correction is not really huge in retrospect (i.e. compared to more recent corrections). Looks to me that the price will still go higher.
I looked at the LTCUSD chart and appears to me that we have maybe 3 days of sideways action, then might slightly move down before the bottom. So I am thinking one more move up for BTC before this is done. Still thinking $5100. My long-term projection since months ago was $4000. Then recently I calculated the more precise top to be just above $5000. It is possible for some crazy spike higher than that ($8000?), but it would likely only be for an hour or less.
Your thoughts?
Also Bitcoin Cash might be a smart diversification because of the following:
I wrote:
EDIT: LTC peaked in early July when the NY agreement for SegWit was formalized a bit. Then it rebounded when there was uncertainty in mid-July, and then it started crashing when it was clear that SegWit on BTC was happening. Thus I conclude that until BTC peaks, LTC will decline. Once BTC peaks and BCH starts rising, then the slow difficulty adjustment of BTC is going to cause BCH mining to be more profitable and potentially causes an downward spiral for BTC as I and others have theorized in other comments. That is when I see LTC rebounding because BTC-SegWit is failing. At some point BCH peaks, then BTC-SegWit recovers, so LTC peaks at perhaps 0.032 then declines again. Then some time later perhaps the SegWit theft that I theorized begins. Some where in that mix LTC may make it to 0.05, but it is difficult for me to ponder that because I don’t know the timing on when SegWit transactions will become numerous. And whether LTC to 0.05 will come as a result of a complete failure of BTC-SegWit, or just an extension of a rally interim. The mess is getting quite complex to ponder.
What you can see is that until July, LTCBTC was following a similar staircase pattern as LTCUSD. Then LTCBTC diverged from the pattern. Clearly this is because SegWit happened on BTC.
Thank you for sharing your views! Get well soon! Looking forward to Hypermesh!
I instigated a brainstorming process in private chat over past few days attempting to find a better name than Bitnet. Becasuse I don’t want my novel consensus algorithm to be associated with the coming chaos/failure of Bitcoin. Also there are too many clone portmanteaus, e.g. BitDice, Bitpay, Bitshares, etc.. I needed a name to appeal to the masses that will not make them think my project is something for Bitcoin.
The Hyperbit name idea originates from me in 2015. Also we think hyper- the prefix means above and beyond in terms of functionality and that coupled with meshing, then it is both a good name of the novel technology wherein the consensus is provided by a mesh and also for the social networking concept of the onboarding and monetization paradigm.
As for my liver health, I am still battling to get back to fully normal energy level (and thus sustained cognition). Definitely improved since I completed the 6 months of liver toxic antibiotics (actually I only completed 22.5 weeks because my condition got intolerable), but I am still struggling sometimes (not always). I ran (more like stumbled and gritted my teeth through) 20 kms in the hills within 60 hours this week (4 kms runs bcz that is the most I can do before the liver cramps get too intolerable) at roughly 9 min per mile pace, which was very exhausting (and very unpleasant/difficult to do) given I hadn’t been doing much exercise the weeks prior due to trying to work nonstop on the computer. I was forced to ramp up exercise, because my allergic condition was coming back (can cause the throat to constrict and suffocate, caused extreme itchiness that led to an oozing scab on side of my face). In short, my health is still holding back somewhat, but I am making progress. This is not easy. Painful is not the apt word to describe it. I guess imagine a slave quarrying and carrying stones to build the pyramids. Sometimes unpleasant health and very difficult to do those runs and sometimes also very difficult just to read and sit at computer. But also over the past weeks, I did have some very good days where I was very lucid and got a lot of work done. Just feeling crap at the moment because the (autoimmunity, gut problems driven) allergy came back and then I tried to battle that with intense athletics (which my body really can’t handle well at this age of 52 and digestive/liver/immune destruction caused by the chronic illness and the toxins required to eradicate the pathogens).
I like Bitnet even if Bitcoin fails. Next generation.
What about Blocknet?