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Is Bitcoin the Next Big Thing?

Discussion in 'Business Discussions' started by accelerator, Jun 2, 2015.

  1. dee

    dee Well-Known Member Acorn Supporter

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    Are you using leverage ? And if so do you mind if I ask who you ended up with ? I dont get the 15 day limit ?
     
  2. Domain Forum

    Acorn Domains Elite Member

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  3. bonusmedia United Kingdom

    bonusmedia Well-Known Member

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    Yep, you could well be right. Or the market could be being manipulated by fraudsters - and even if that's the case they can do it for far longer than 15 days.
    I made my decision with a clear head but I did have to get drunk to follow through so I'd say I'm well aware of the risk.
    Thankfully had a bit of good news on an investment that makes this look like small beans in comparison
     
  4. dee

    dee Well-Known Member Acorn Supporter

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    Good. Congrats
     
  5. Edwin

    Edwin Well-Known Member Exclusive Member

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    Really appreciate the frankness. It's very informative. Thank you.
     
  6. Edwin

    Edwin Well-Known Member Exclusive Member

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    The trading volume just after 08:00 is suggestive of bots. Nothing external happened to warrant that leap, that I'm aware of...
    http://bitcointicker.co/stamp/btc/usd/12hr/

    (Not that it helps, really, since without proper fraud safeguards on the exchanges, bots have free rein)

    BTW, the lower graph is also instructive, in that it tells you how many coins would be needed to reach that number. For instance, right now (changes all the time) the price is 8,714.010 and it would take 425 BTC (at the right price) to drop it to 8,421.00 or 709 BTC to raise it to 9,012.00.

    In other words, just a few $million to engineer some fairly wild swings. It's possible to imagine (at least in theory) that if one had deep pockets, one could engineer some kind of bet that would pay off much more than that for a 300 or 400 leap or drop in BTC's price. So either alone or in collusion with a BTC whale, there could be major scope for market manipulation.
     
  7. dee

    dee Well-Known Member Acorn Supporter

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    Post weekend positioning ? Seems cryptos normally slowly decline over weekend and pick up again at week start.

    If there is market manipulation going on then it would seem more likely that it would take another run up at the all time high then be tanked via tether news or such like.
     
  8. Edwin

    Edwin Well-Known Member Exclusive Member

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    Problem is, Tether's seemingly fake USDT bot action has been busted* (that was covered in the long article I linked to) which is why they had to create secondary coins like the Euro-Tether one. It's much harder to create big volumes there, though, so it's unlikely they're going to be able to dump cash into the market in the $hundreds of millions like they were doing at the height of the pump.

    *they haven't admitted to anything, but now that it's been "outed" the supposed bot suddenly stopped pouring cash into the market.
     
  9. bonusmedia United Kingdom

    bonusmedia Well-Known Member

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    Sort of. 1:20 leverage but I put much more in than the initial margin I actually used, if that makes sense.
    I think actually using that amount of leverage would probably tip the balance from brave to stupid

    I went with Plus500 because they could set me up inside an hour at 2am on a Sunday morning.
    They limit losses to the balance of your account anyway but my limits kick in before that.
    They have a 15 day limit on BTC CFDs.

    It might hit $10.5K tomorrow, it might hit $5.5K tomorrow - we shall see!
    If nowt else it's a bit of a distraction from the enormous pile of paperwork I should be doing
     
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  10. bonusmedia United Kingdom

    bonusmedia Well-Known Member

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    Re manipulation - you may be right, but if it is happening then I think it's easier/less risk to buy in, pump it 10%, sell out, let it drop 10%, rinse and repeat
     
  11. dee

    dee Well-Known Member Acorn Supporter

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    I know what would happen if i'd made that trade. It would pop up to the vague down channel top @11.5 hitting my stops on way, then rapidly descend to the bottom at 4k ish .

    It's probably a good thing for you i'm long :)
     
  12. Edwin

    Edwin Well-Known Member Exclusive Member

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    BTW, this is worth a read as to why Tether may suddenly have stopped plucking money out of thin air (after "creating" over $850 million in January 2018)
    https://www.trustnodes.com/2018/02/04/tethers-printer-suddenly-gone-silent

    And it looks like historically Tether's grants of new coinage were the closest thing to a "dead cert" trading signal...
    https://hackernoon.com/the-tether-effect-7310cbf5523f
    https://www.tetherreport.com/

    Here's a public record of all Tether's new coin grants
    USDT (nothing since 23 Jan): https://omniexplorer.info/default.aspx?filter=grant
    Euro on Ethereum: https://etherscan.io/token/0xabdf147870235fcfc34153828c769a70b3fae01f
     
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    Last edited: Feb 12, 2018
  13. Edwin

    Edwin Well-Known Member Exclusive Member

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    Interesting little interview with the original "wolf of wall street" guy (the crypto stuff ends around 15 minutes in, after that it's about Trump so I switched off)

     
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  14. bonusmedia United Kingdom

    bonusmedia Well-Known Member

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    Wonder what would stop them printing more EURT
    I'll keep an eye on that, if they suddenly magic up another hundred million I might call it a day
     
  15. ian

    ian Well-Known Member

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    The irony of a fraudster claiming all crypto is a fraud, yet he and his friends "sold at the top" and finishing with saying all HODLers should hold until they kill themselves! What I lovely bloke!!!
     
  16. boxerdog

    boxerdog Well-Known Member

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    BBC1 Panorama on Bitcoin tonight 8:30-9:00pm, could be quite interesting.
     
  17. Edwin

    Edwin Well-Known Member Exclusive Member

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    Was it?
     
  18. boxerdog

    boxerdog Well-Known Member

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    It wasn't bad, worth a watch if you're bored for 30 minutes but nothing we don't already know.
     
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  19. ian

    ian Well-Known Member

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    Typical BBC stance, was an entire show of negativity, but in a softly softly way.
     
  20. markb United Kingdom

    markb Active Member

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    Looks like litecoin/bitcoin doing well today.
     
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  21. dee

    dee Well-Known Member Acorn Supporter

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    Hooray ! My little LTC hold looking a little less sore