We need a good BTC vs STEEM economic speculation thread
The fascist cunts over at bitcointalk banned me. I am still reading posts over there every day, but I know the content I am consuming is heavily censored, and the people doing the censoring have an agenda. (Don't they always.)
I have been into bitcoin for five years now, and I consider myself a bit of an expert. I have invested, day traded, built mining arrays, and participated in the bitcoin economy in all kinds of other ways. I mined over three thousand bitcoins in 2011 and 2012, and I sold most of them for about $10-15 each. I was swindled out of $30,000.00 worth of litecoin in 2013 by a scam litecoin cloud mining site called markets.cx. I have started over from nothing, and I am now building a new empire.
I have been on the fence about converting some of my precious bitcoin into steem power for the last 3 days, and I am still hodling my bitcoins. My biggest reason for waiting has been security issues. If 2fa were implemented I would jump in immediately, but I am afraid the price is going to go bananas right before that happens. I could miss out big time if I don't just reach down, grab my balls, and take the risk.
I want to know what you guys think. Please show me you can do better than the poo-flinging monkeys over at bitcointalk. I want convincing arguments based on solid TA. The straight dope. Anybody got some of that for me?
Cool Tattoos bro :) and i see a Canadian Coin. Enough Said!
Out of curiosity: What did you do to get banned? Getting banned at btctalk isn't that easy.
I get drunk and vulgar sometimes. I think the comment they banned me for had something to do with telling someone to eat the peanuts out of my shit and choke to death on them. Not my proudest moment, but the guy I directed that abuse at totally deserved it. I don't know if any of you have been on the bitcointalk economic speculation thread, but I'll tell you, there is some insanely high level trolling going on over there. The crazy part is that the people the moderators allow to stay say far worse things than the people they boot. I am thinking the moderators are selectively enforcing rules and banning people as it best suits their interests and agenda. What does, or does not, get read by people reading bitcointalk has an effect on the market. The shills running bitcointalk know that, and so they invest and moderate accordingly.
Aha, thanks for sharing. As for the speculation thread, I think lambie's clones are too hard to ban (he can spring up tens of them FAST - he has actually used nicknames for 1 post-use for the lolz) and hence they leave him post (or troll more precisely) with some of his ids - at least this way the users can understand it's the troll himself posting by his "main" accounts. I think it's probably inability to enforce the rules in that particular case of aggressive trolling.
Bitcoin is headed for a bull run, been around long enough to know TA is worse than guessing, now it's just gut feeling. I can feel the spring winding and I think we are going to see the ETF announced in the fall. Steady creep to the $800s, then a spike to <$1000 as the insiders buy. Sometime in Sept news about the Wink ETF and then an all out gong show. Economic meltdown in Europe, US presidential election, more violence in Europe, Economic meltdown in US. Markets bottom, gold/silver/BTC go batshit crazy. $10k BTC by Jan 2017. Don't say I didn't warn you. ;)
I really hope you're right! I'm going to push about half of my savings back into BTC. If you're right, I won't say you didn't warn me, I'll buy you a drink ;)
All cryptocurrencies are fueled by speculation, and not just any speculation, but rampant speculation. As with any speculative asset, it is probably a better idea to diversify than to hold concentrated quantities of any specific coin. 99% of alts are garbage or fads. If you want to spread your risk, and if you think 2fa will be a catalyst for a higher price, convert some now and kill two birds with one stone. However, I'm not sold that 2fa alone is a catalyst for a higher price. That would assume that there are people waiting to invest large amounts in steem and the only thing holding them back is a lack of 2fa. That may be true, but to me it seems unlikely to be true in a large enough number to meaningfully move the price of what is already a multi-hundred million dollar market cap.
You had me by "cunts".
I'm not fishing for compliments here, kids. I want someone to convincingly explain to me why I should convert my bitcoins to steem power a week after the supply of new bitcoins being released into the economy was cut in half! Anyone?
Well, I'd advise strongly against it for another month [at least]. Because now it's hot, I know, but you could really fast lose really big amounts of investment. Steem has an inherent volatility that can be extremely generous for investors but until the dust has settled you're in great risk. Just my 0.02.
Historically speaking, any crypto that's now worth a penny had an extrem uprising but also an extreme fall at some point. I'd wait for the fall to come and invest by then.
Buy the dip is always good advice. I have been waiting for a crash for three days now. Had I bought steem power three days ago, I would have made interest on it. I also would have made more from this post.
You see, I missed the chance to buy into Ethereum long time (you know, 2000% profit within half a year, check the charts) but I waited for the next crash to come. I bought into it when the DAO hack came, made 150%, went short and had my vacation paid for. Next opportunity for Ethereum will be on Wednesday (research into it, Hard Fork).
Anticipate vulnerabilities and see rationally that any crypto has inherent flaws which might not be visible to you or the devs. The crash, the downward trend will come, maybe tomorrow, maybe next month. But I'd bet you we'll make good money looking at Steem and investing at the right time. Just stay alert for the perfect moment.
Amazing you still keep at it!!! Love the enthusiasm for crypto
Great piece