Wazua
»
Investor
»
Offshore
»
Speculating in cryptocurrencies: A rough approach
Rank: Member Joined: 10/6/2015 Posts: 249 Location: Nairobi
|
https://www.bloomberg.co...s-of-u-s-criminal-probe
...but again,most markets are replete with these vices.Bottomline,amidst all the noise,there is serious mulla to be made here. Never lose your position in a bull market,BTFD.
|
|
|
Rank: Elder Joined: 10/11/2006 Posts: 2,304
|
Mike Ock wrote:mnandii wrote:Mike Ock wrote:mnandii wrote: Expecting Bitcoin to find a bottom at 7740 - 7530s. Thereafter it should rebound and target a move upwards of $10000. Leave out wave analysis in cryptocurrencies. Crypto due to it's decentralized nature has no regulatory bodies and hence is easily manipulated by the largest stakeholders(currency owners, exchanges and miners). This is hot fire you're playing around with. I hope it's money you can afford to lose. I wish you knew what you are talking about! NO ONE manipulates large markets. NO ONE has that capacity to do so. Research. Here we go. The standard response by a crypto trader when their currency is questioned is to assume the critic has done zero due diligence and dismiss them. I'll have you know that I've been following Bitcoin for years and the manipulation is there in the following ways : 1. Miners simply stop mining when a currency falls to a price below what it costs to mine. This causes supply restriction and the price quickly bounces back to profitability after that 2. For the entire history of crypto, there has always been a dominant exchange converting the majority of the currency in circulation. Right now the dominant exchange is Coinbase and they are notorious for making their system throw trading errors during market panics to restrict demand and prop up the price. Also there is no crypto insider trading law so it's easy for operators of a big exchange like Coinbase to examine trading behavior on their platform and trade based on that information 3. The top 1000 owners of Bitcoin control up to 40% of the currency. It's very easy for them to trade large volumes with one another to prop up the price when necessary @Mike I understand all this you are saying. But even with the knowledge you have you have not come to the truth about what moves the markets. What am saying is that whatever the miners, speculators, big organisations do, they can't control the direction of the price of any financial instrument. Believe me I studied fundamental analysis as is commonly practised, I also studied the common technical analysis methods and Volume Spread Analysis (VSA) where the idea that markets have conspirators who move it one way or another is a major cornerstone. I applied myself to these methods of analysis but they didn't answer the question of what really moves the markets
. Elliott opened my eyes big time. If you continue on a path of learning and asking yourself hard questions and getting exposed to Elliott Wave theory you'll come to understand why a large percentage of speculators lose money. For now I know your pride (after all you have researched) will make you to dismiss my ascertions above. But one day if you'll get the guts to overcome this pride then you'll come to understand what really moves financial markets. Please note that their is a very big difference between Economic markets where demand and supply determine prices (and hence can be manipulated), AND Financial Markets (e.g. shares, currencies etc) where people's collective psychology determine the direction of the market. After all you don't buy shares and currencies to consume but you buy with the hope that other people will buy them from you at a higher price resulting in you making some gain. Therefore while the decisions you make when dealing with economic goods is rational , the ones you make when dealing in financial instruments is pre-rational. You are hopping the price will move in a direction that will allow you to make a profit. In others words, you are trying to second-guess what other people are thinking in relation to the market of your choice. Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
|
|
|
Rank: Elder Joined: 10/11/2006 Posts: 2,304
|
Mike Ock wrote:mnandii wrote:Mike Ock wrote:mnandii wrote:Expecting Bitcoin to find a bottom at 7740 - 7530s. Thereafter it should rebound and target a move upwards of $10000. Leave out wave analysis in cryptocurrencies. Crypto due to it's decentralized nature has no regulatory bodies and hence is easily manipulated by the largest stakeholders(currency owners, exchanges and miners). This is hot fire you're playing around with. I hope it's money you can afford to lose. I wish you knew what you are talking about! NO ONE manipulates large markets. NO ONE has that capacity to do so. Research. Here we go. The standard response by a crypto trader when their currency is questioned is to assume the critic has done zero due diligence and dismiss them. I'll have you know that I've been following Bitcoin for years and the manipulation is there in the following ways : 1. Miners simply stop mining when a currency falls to a price below what it costs to mine. This causes supply restriction and the price quickly bounces back to profitability after that 2. For the entire history of crypto, there has always been a dominant exchange converting the majority of the currency in circulation. Right now the dominant exchange is Coinbase and they are notorious for making their system throw trading errors during market panics to restrict demand and prop up the price. Also there is no crypto insider trading law so it's easy for operators of a big exchange like Coinbase to examine trading behavior on their platform and trade based on that information 3. The top 1000 owners of Bitcoin control up to 40% of the currency. It's very easy for them to trade large volumes with one another to prop up the price when necessary Your ascertions in 2 and 3 actually contradict the purposes for which bitcoin and blockchain was formed. One major purpose for the bitcoin blockchain(and block chains in general) is to overcome a situation in which few major corporations can control and dictate the rules for exchange. E.g in the case of governments, a situation in which it devalues its currency. Therefore the fact that major exchanges do a majority of the transactions in bitcoin does not necessarily mean that they also control the direction the price of bitcoin will go. This is simply the application of a POWER LAW which is evident everywhere e.g there are fewer very rich people who control a majority of resources (more than two thirds) while the majority of people control less than one third of resources. This is how the world is and will continue to be. Again this calls to question the research you claim to have because if you don't understand the purpose of blockchain and why it was created in the first place then you can't really make informed decisions about bitcoins. There are people even here in wazua who project themselves as gurus in bitcoin but just a few comments from them makes one to question their understanding of what bitcoin is. For example, there are those who call for bitcoin to be regulated in Kenya. Surely, bitcoin was created to overcome a situation where a central authority controls it then somebody ascerts that it should be regulated! Should you listen to such people really? Should you buy their ideas about bitcoin? I maintain NOT. The ascertion in 3 above is impossible. But in any case can you name the 1000 owners? How did you come to a conclusion that they are 1000 and not 100 or 3000 etc? Are you aware if they took their profits when bitcoin reached its top at $19,000? Logically if the 1000 owners control the price of bitcoin and they are rational (i.e they are there to profit from price swings) then there is absolutely no reason why they are the same 1000 owners at a market top and they remain the same when the market falls. This is because they should liquidate their holdings when the market tops (and therefore lose ownership) and then another group should buy when the market bottoms. This is the scenario that should be at play and therefore is at odds with the idea that there are 1000 owners of 40% of bitcoin. If you want to speculate with some level of accuracy then forget the idea that the price of bitcoin (or any other financial product) is controlled by a few individuals/organisations who conspire to defraud the larger public. This is simply not a good explanation as to why a majority lose in speculation Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
|
|
|
Rank: Elder Joined: 10/11/2006 Posts: 2,304
|
For those interested I can point you in the right direction but the journey is difficult. This is because the journey involves you questioning everything that you have become accustomed to to be fact and replacing it with an idea that goes smack against majority opinion.It involves you coming to understand yourself fully by questioning your very self. I almost abandoned the study of Elliott Waves because of this. E.g the very idea that is the bone of contention between me and the wazuan above is quite difficult to adjust to. It is simply EASY to accept that the market is manipulated because that way when you lose in the market it becomes natural to accept that OTHERS are responsible for your losses and not you. i.e you avoid a situation where YOU attribute the mistakes you make in the market to yourself. With my knowledge of Elliott Waves when I make a mistake (e.g a wrong market call )I simply question my analysis and try to figure out the best alternative Elliott Wave interpretation of the pattern unfolding in the charts. And most of the time I find out that the pattern I assumed was unfolding may not be the one and an alternative pattern is. And the beauty with Elliott Waves is that you don't bother what Central Bankers are saying, or what the fundamentals are or what shares Chris kirubi is buying etc. You become t peace with yourself and its fun! But to reiterate, the journey (coming to fully accept that what most people assume moves the market is not what actually is) is quite a difficult journey. And it's not because learning Elliott Waves is difficult - it is simply because the core theory of Elliott Waves is at odds with your very mental state. It is like starting to crawl and walk again. Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
|
|
|
Rank: Elder Joined: 7/11/2012 Posts: 5,222
|
mnandii wrote:Mike Ock wrote:mnandii wrote:Mike Ock wrote:mnandii wrote:Expecting Bitcoin to find a bottom at 7740 - 7530s. Thereafter it should rebound and target a move upwards of $10000. Leave out wave analysis in cryptocurrencies. Crypto due to it's decentralized nature has no regulatory bodies and hence is easily manipulated by the largest stakeholders(currency owners, exchanges and miners). This is hot fire you're playing around with. I hope it's money you can afford to lose. I wish you knew what you are talking about! NO ONE manipulates large markets. NO ONE has that capacity to do so. Research. Here we go. The standard response by a crypto trader when their currency is questioned is to assume the critic has done zero due diligence and dismiss them. I'll have you know that I've been following Bitcoin for years and the manipulation is there in the following ways : 1. Miners simply stop mining when a currency falls to a price below what it costs to mine. This causes supply restriction and the price quickly bounces back to profitability after that 2. For the entire history of crypto, there has always been a dominant exchange converting the majority of the currency in circulation. Right now the dominant exchange is Coinbase and they are notorious for making their system throw trading errors during market panics to restrict demand and prop up the price. Also there is no crypto insider trading law so it's easy for operators of a big exchange like Coinbase to examine trading behavior on their platform and trade based on that information 3. The top 1000 owners of Bitcoin control up to 40% of the currency. It's very easy for them to trade large volumes with one another to prop up the price when necessary Your ascertions in 2 and 3 actually contradict the purposes for which bitcoin and blockchain was formed. One major purpose for the bitcoin blockchain(and block chains in general) is to overcome a situation in which few major corporations can control and dictate the rules for exchange. E.g in the case of governments, a situation in which it devalues its currency. Therefore the fact that major exchanges do a majority of the transactions in bitcoin does not necessarily mean that they also control the direction the price of bitcoin will go. This is simply the application of a POWER LAW which is evident everywhere e.g there are fewer very rich people who control a majority of resources (more than two thirds) while the majority of people control less than one third of resources. This is how the world is and will continue to be. Again this calls to question the research you claim to have because if you don't understand the purpose of blockchain and why it was created in the first place then you can't really make informed decisions about bitcoins. There are people even here in wazua who project themselves as gurus in bitcoin but just a few comments from them makes one to question their understanding of what bitcoin is. For example, there are those who call for bitcoin to be regulated in Kenya. Surely, bitcoin was created to overcome a situation where a central authority controls it then somebody ascerts that it should be regulated! Should you listen to such people really? Should you buy their ideas about bitcoin? I maintain NOT. The ascertion in 3 above is impossible. But in any case can you name the 1000 owners? How did you come to a conclusion that they are 1000 and not 100 or 3000 etc? Are you aware if they took their profits when bitcoin reached its top at $19,000? Logically if the 1000 owners control the price of bitcoin and they are rational (i.e they are there to profit from price swings) then there is absolutely no reason why they are the same 1000 owners at a market top and they remain the same when the market falls. This is because they should liquidate their holdings when the market tops (and therefore lose ownership) and then another group should buy when the market bottoms. This is the scenario that should be at play and therefore is at odds with the idea that there are 1000 owners of 40% of bitcoin. If you want to speculate with some level of accuracy then forget the idea that the price of bitcoin (or any other financial product) is controlled by a few individuals/organisations who conspire to defraud the larger public. This is simply not a good explanation as to why a majority lose in speculation Don't be a coward. Name names and quote posts. You are borderline arrogance. Someone, in another forum, once said that mass adoption of Bitoin, moreso in Kenya, might come to pass easily, if those in the know get off their high horse and engage Wanjiku at their level. So now, everyone is foolish as pertains to Crypto and we should read the gospel according to you? I for one maintain that it is only is regulation that Bitcoin can thrive. That should NOT be construed to mean that Bitcoin, should be regulated... I wonder what nonsense you got that from... How does one even go about it? Regulation comes in place to mitigate against scam ICOs, insider trading by local exchanges, consumer protection, action against falsifying information and spreading propaganda, like what you are doing... Without a standard operating procedure, every Tom, Dick and Harry will make their own crypto, hack into whatever they want to, speak whatever they want... with reckless abandon. You might know how to chart Elliot, but that doesn't make you an authority in anything. Infact, I'm yet to meet an authority in Crypto, as its yet to take form. Very fluid. In my day trading, I hardly use Elliot, and will only result to it and other tools when swing trading. So relax brathe, usiache mbachao kwa mswala upitao.
|
|
|
Rank: Elder Joined: 10/11/2006 Posts: 2,304
|
Mukiri wrote:mnandii wrote:Mike Ock wrote:mnandii wrote:Mike Ock wrote:mnandii wrote:Expecting Bitcoin to find a bottom at 7740 - 7530s. Thereafter it should rebound and target a move upwards of $10000. Leave out wave analysis in cryptocurrencies. Crypto due to it's decentralized nature has no regulatory bodies and hence is easily manipulated by the largest stakeholders(currency owners, exchanges and miners). This is hot fire you're playing around with. I hope it's money you can afford to lose. I wish you knew what you are talking about! NO ONE manipulates large markets. NO ONE has that capacity to do so. Research. Here we go. The standard response by a crypto trader when their currency is questioned is to assume the critic has done zero due diligence and dismiss them. I'll have you know that I've been following Bitcoin for years and the manipulation is there in the following ways : 1. Miners simply stop mining when a currency falls to a price below what it costs to mine. This causes supply restriction and the price quickly bounces back to profitability after that 2. For the entire history of crypto, there has always been a dominant exchange converting the majority of the currency in circulation. Right now the dominant exchange is Coinbase and they are notorious for making their system throw trading errors during market panics to restrict demand and prop up the price. Also there is no crypto insider trading law so it's easy for operators of a big exchange like Coinbase to examine trading behavior on their platform and trade based on that information 3. The top 1000 owners of Bitcoin control up to 40% of the currency. It's very easy for them to trade large volumes with one another to prop up the price when necessary Your ascertions in 2 and 3 actually contradict the purposes for which bitcoin and blockchain was formed. One major purpose for the bitcoin blockchain(and block chains in general) is to overcome a situation in which few major corporations can control and dictate the rules for exchange. E.g in the case of governments, a situation in which it devalues its currency. Therefore the fact that major exchanges do a majority of the transactions in bitcoin does not necessarily mean that they also control the direction the price of bitcoin will go. This is simply the application of a POWER LAW which is evident everywhere e.g there are fewer very rich people who control a majority of resources (more than two thirds) while the majority of people control less than one third of resources. This is how the world is and will continue to be. Again this calls to question the research you claim to have because if you don't understand the purpose of blockchain and why it was created in the first place then you can't really make informed decisions about bitcoins. There are people even here in wazua who project themselves as gurus in bitcoin but just a few comments from them makes one to question their understanding of what bitcoin is. For example, there are those who call for bitcoin to be regulated in Kenya. Surely, bitcoin was created to overcome a situation where a central authority controls it then somebody ascerts that it should be regulated! Should you listen to such people really? Should you buy their ideas about bitcoin? I maintain NOT. The ascertion in 3 above is impossible. But in any case can you name the 1000 owners? How did you come to a conclusion that they are 1000 and not 100 or 3000 etc? Are you aware if they took their profits when bitcoin reached its top at $19,000? Logically if the 1000 owners control the price of bitcoin and they are rational (i.e they are there to profit from price swings) then there is absolutely no reason why they are the same 1000 owners at a market top and they remain the same when the market falls. This is because they should liquidate their holdings when the market tops (and therefore lose ownership) and then another group should buy when the market bottoms. This is the scenario that should be at play and therefore is at odds with the idea that there are 1000 owners of 40% of bitcoin. If you want to speculate with some level of accuracy then forget the idea that the price of bitcoin (or any other financial product) is controlled by a few individuals/organisations who conspire to defraud the larger public. This is simply not a good explanation as to why a majority lose in speculation Don't be a coward. Name names and quote posts. You are borderline arrogance. Someone, in another forum, once said that mass adoption of Bitoin, moreso in Kenya, might come to pass easily, if those in the know get off their high horse and engage Wanjiku at their level. So now, everyone is foolish as pertains to Crypto and we should read the gospel according to you? I for one maintain that it is only is regulation that Bitcoin can thrive. That should NOT be construed to mean that Bitcoin, should be regulated... I wonder what nonsense you got that from... How does one even go about it? Regulation comes in place to mitigate against scam ICOs, insider trading by local exchanges, consumer protection, action against falsifying information and spreading propaganda, like what you are doing... Without a standard operating procedure, every Tom, Dick and Harry will make their own crypto, hack into whatever they want to, speak whatever they want... with reckless abandon. You might know how to chart Elliot, but that doesn't make you an authority in anything. Infact, I'm yet to meet an authority in Crypto, as its yet to take form. Very fluid. In my day trading, I hardly use Elliot, and will only result to it and other tools when swing trading. So relax brathe, usiache mbachao kwa mswala upitao. Tuachie hapo seeing that this discussion is degenerating. Believe what you want. Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
|
|
|
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
|
When bitcoin experts cannot agree... mnandii wrote:Mukiri wrote:mnandii wrote:Mike Ock wrote:mnandii wrote:Mike Ock wrote:mnandii wrote:Expecting Bitcoin to find a bottom at 7740 - 7530s. Thereafter it should rebound and target a move upwards of $10000. Leave out wave analysis in cryptocurrencies. Crypto due to it's decentralized nature has no regulatory bodies and hence is easily manipulated by the largest stakeholders(currency owners, exchanges and miners). This is hot fire you're playing around with. I hope it's money you can afford to lose. I wish you knew what you are talking about! NO ONE manipulates large markets. NO ONE has that capacity to do so. Research. Here we go. The standard response by a crypto trader when their currency is questioned is to assume the critic has done zero due diligence and dismiss them. I'll have you know that I've been following Bitcoin for years and the manipulation is there in the following ways : 1. Miners simply stop mining when a currency falls to a price below what it costs to mine. This causes supply restriction and the price quickly bounces back to profitability after that 2. For the entire history of crypto, there has always been a dominant exchange converting the majority of the currency in circulation. Right now the dominant exchange is Coinbase and they are notorious for making their system throw trading errors during market panics to restrict demand and prop up the price. Also there is no crypto insider trading law so it's easy for operators of a big exchange like Coinbase to examine trading behavior on their platform and trade based on that information 3. The top 1000 owners of Bitcoin control up to 40% of the currency. It's very easy for them to trade large volumes with one another to prop up the price when necessary Your ascertions in 2 and 3 actually contradict the purposes for which bitcoin and blockchain was formed. One major purpose for the bitcoin blockchain(and block chains in general) is to overcome a situation in which few major corporations can control and dictate the rules for exchange. E.g in the case of governments, a situation in which it devalues its currency. Therefore the fact that major exchanges do a majority of the transactions in bitcoin does not necessarily mean that they also control the direction the price of bitcoin will go. This is simply the application of a POWER LAW which is evident everywhere e.g there are fewer very rich people who control a majority of resources (more than two thirds) while the majority of people control less than one third of resources. This is how the world is and will continue to be. Again this calls to question the research you claim to have because if you don't understand the purpose of blockchain and why it was created in the first place then you can't really make informed decisions about bitcoins. There are people even here in wazua who project themselves as gurus in bitcoin but just a few comments from them makes one to question their understanding of what bitcoin is. For example, there are those who call for bitcoin to be regulated in Kenya. Surely, bitcoin was created to overcome a situation where a central authority controls it then somebody ascerts that it should be regulated! Should you listen to such people really? Should you buy their ideas about bitcoin? I maintain NOT. The ascertion in 3 above is impossible. But in any case can you name the 1000 owners? How did you come to a conclusion that they are 1000 and not 100 or 3000 etc? Are you aware if they took their profits when bitcoin reached its top at $19,000? Logically if the 1000 owners control the price of bitcoin and they are rational (i.e they are there to profit from price swings) then there is absolutely no reason why they are the same 1000 owners at a market top and they remain the same when the market falls. This is because they should liquidate their holdings when the market tops (and therefore lose ownership) and then another group should buy when the market bottoms. This is the scenario that should be at play and therefore is at odds with the idea that there are 1000 owners of 40% of bitcoin. If you want to speculate with some level of accuracy then forget the idea that the price of bitcoin (or any other financial product) is controlled by a few individuals/organisations who conspire to defraud the larger public. This is simply not a good explanation as to why a majority lose in speculation Don't be a coward. Name names and quote posts. You are borderline arrogance. Someone, in another forum, once said that mass adoption of Bitoin, moreso in Kenya, might come to pass easily, if those in the know get off their high horse and engage Wanjiku at their level. So now, everyone is foolish as pertains to Crypto and we should read the gospel according to you? I for one maintain that it is only is regulation that Bitcoin can thrive. That should NOT be construed to mean that Bitcoin, should be regulated... I wonder what nonsense you got that from... How does one even go about it? Regulation comes in place to mitigate against scam ICOs, insider trading by local exchanges, consumer protection, action against falsifying information and spreading propaganda, like what you are doing... Without a standard operating procedure, every Tom, Dick and Harry will make their own crypto, hack into whatever they want to, speak whatever they want... with reckless abandon. You might know how to chart Elliot, but that doesn't make you an authority in anything. Infact, I'm yet to meet an authority in Crypto, as its yet to take form. Very fluid. In my day trading, I hardly use Elliot, and will only result to it and other tools when swing trading. So relax brathe, usiache mbachao kwa mswala upitao. Tuachie hapo seeing that this discussion is degenerating. Believe what you want. Life is short. Live passionately.
|
|
|
Rank: Elder Joined: 12/7/2012 Posts: 11,901
|
sparkly wrote:When bitcoin experts cannot agree... mnandii wrote:Mukiri wrote:mnandii wrote:Mike Ock wrote:mnandii wrote:Mike Ock wrote:mnandii wrote:Expecting Bitcoin to find a bottom at 7740 - 7530s. Thereafter it should rebound and target a move upwards of $10000. Leave out wave analysis in cryptocurrencies. Crypto due to it's decentralized nature has no regulatory bodies and hence is easily manipulated by the largest stakeholders(currency owners, exchanges and miners). This is hot fire you're playing around with. I hope it's money you can afford to lose. I wish you knew what you are talking about! NO ONE manipulates large markets. NO ONE has that capacity to do so. Research. Here we go. The standard response by a crypto trader when their currency is questioned is to assume the critic has done zero due diligence and dismiss them. I'll have you know that I've been following Bitcoin for years and the manipulation is there in the following ways : 1. Miners simply stop mining when a currency falls to a price below what it costs to mine. This causes supply restriction and the price quickly bounces back to profitability after that 2. For the entire history of crypto, there has always been a dominant exchange converting the majority of the currency in circulation. Right now the dominant exchange is Coinbase and they are notorious for making their system throw trading errors during market panics to restrict demand and prop up the price. Also there is no crypto insider trading law so it's easy for operators of a big exchange like Coinbase to examine trading behavior on their platform and trade based on that information 3. The top 1000 owners of Bitcoin control up to 40% of the currency. It's very easy for them to trade large volumes with one another to prop up the price when necessary Your ascertions in 2 and 3 actually contradict the purposes for which bitcoin and blockchain was formed. One major purpose for the bitcoin blockchain(and block chains in general) is to overcome a situation in which few major corporations can control and dictate the rules for exchange. E.g in the case of governments, a situation in which it devalues its currency. Therefore the fact that major exchanges do a majority of the transactions in bitcoin does not necessarily mean that they also control the direction the price of bitcoin will go. This is simply the application of a POWER LAW which is evident everywhere e.g there are fewer very rich people who control a majority of resources (more than two thirds) while the majority of people control less than one third of resources. This is how the world is and will continue to be. Again this calls to question the research you claim to have because if you don't understand the purpose of blockchain and why it was created in the first place then you can't really make informed decisions about bitcoins. There are people even here in wazua who project themselves as gurus in bitcoin but just a few comments from them makes one to question their understanding of what bitcoin is. For example, there are those who call for bitcoin to be regulated in Kenya. Surely, bitcoin was created to overcome a situation where a central authority controls it then somebody ascerts that it should be regulated! Should you listen to such people really? Should you buy their ideas about bitcoin? I maintain NOT. The ascertion in 3 above is impossible. But in any case can you name the 1000 owners? How did you come to a conclusion that they are 1000 and not 100 or 3000 etc? Are you aware if they took their profits when bitcoin reached its top at $19,000? Logically if the 1000 owners control the price of bitcoin and they are rational (i.e they are there to profit from price swings) then there is absolutely no reason why they are the same 1000 owners at a market top and they remain the same when the market falls. This is because they should liquidate their holdings when the market tops (and therefore lose ownership) and then another group should buy when the market bottoms. This is the scenario that should be at play and therefore is at odds with the idea that there are 1000 owners of 40% of bitcoin. If you want to speculate with some level of accuracy then forget the idea that the price of bitcoin (or any other financial product) is controlled by a few individuals/organisations who conspire to defraud the larger public. This is simply not a good explanation as to why a majority lose in speculation Don't be a coward. Name names and quote posts. You are borderline arrogance. Someone, in another forum, once said that mass adoption of Bitoin, moreso in Kenya, might come to pass easily, if those in the know get off their high horse and engage Wanjiku at their level. So now, everyone is foolish as pertains to Crypto and we should read the gospel according to you? I for one maintain that it is only is regulation that Bitcoin can thrive. That should NOT be construed to mean that Bitcoin, should be regulated... I wonder what nonsense you got that from... How does one even go about it? Regulation comes in place to mitigate against scam ICOs, insider trading by local exchanges, consumer protection, action against falsifying information and spreading propaganda, like what you are doing... Without a standard operating procedure, every Tom, Dick and Harry will make their own crypto, hack into whatever they want to, speak whatever they want... with reckless abandon. You might know how to chart Elliot, but that doesn't make you an authority in anything. Infact, I'm yet to meet an authority in Crypto, as its yet to take form. Very fluid. In my day trading, I hardly use Elliot, and will only result to it and other tools when swing trading. So relax brathe, usiache mbachao kwa mswala upitao. Tuachie hapo seeing that this discussion is degenerating. Believe what you want.  afadhali NYS tenders In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
|
|
|
Rank: Elder Joined: 7/11/2012 Posts: 5,222
|
Hakuna experts hapa. Issa relatively new unchattered waters. Teething problems.
|
|
|
Rank: Veteran Joined: 9/18/2014 Posts: 1,127
|
Mike Ock wrote:mnandii wrote:Mike Ock wrote:mnandii wrote:Expecting Bitcoin to find a bottom at 7740 - 7530s. Thereafter it should rebound and target a move upwards of $10000. Leave out wave analysis in cryptocurrencies. Crypto due to it's decentralized nature has no regulatory bodies and hence is easily manipulated by the largest stakeholders(currency owners, exchanges and miners). This is hot fire you're playing around with. I hope it's money you can afford to lose. I wish you knew what you are talking about! NO ONE manipulates large markets. NO ONE has that capacity to do so. Research. Here we go. The standard response by a crypto trader when their currency is questioned is to assume the critic has done zero due diligence and dismiss them. I'll have you know that I've been following Bitcoin for years and the manipulation is there in the following ways : 1. Miners simply stop mining when a currency falls to a price below what it costs to mine. This causes supply restriction and the price quickly bounces back to profitability after that 2. For the entire history of crypto, there has always been a dominant exchange converting the majority of the currency in circulation. Right now the dominant exchange is Coinbase and they are notorious for making their system throw trading errors during market panics to restrict demand and prop up the price. Also there is no crypto insider trading law so it's easy for operators of a big exchange like Coinbase to examine trading behavior on their platform and trade based on that information 3. The top 1000 owners of Bitcoin control up to 40% of the currency. It's very easy for them to trade large volumes with one another to prop up the price when necessary I'm no crypto fan but what you've said could be applied to any financial market, stock or bourse. 1. Any miner/producer rations output when price drops. Good example here are the frackers any price below $45 most of them are out business. 2. Every stock market has circuit breakers once the losses are too steep and too sudden. For the NSE we have the 10% rule currently keeping ARM from capitulation. 3. Bar the fx majors all markets move on big volumes/manipulation/insider information on short end (long end is an entirely different animal) sort of like cornering the market of any given product. Re: Warren buffet and the silver trade. The main purpose of the stock market is to make fools of as many people as possible.
|
|
|
Rank: Elder Joined: 10/11/2006 Posts: 2,304
|
 Bitcoin has bottomed at 7031 and is ready to rise to above the previous highs of 9800. Targets for the rise are now between 10000 - 10400. Be long. Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
|
|
|
Rank: Veteran Joined: 11/13/2015 Posts: 1,568
|
mnandii wrote:Bitcoin has bottomed at 7031 and is ready to rise to above the previous highs of 9800. Targets for the rise are now between 10000 - 10400. Be long. Bitcoin is the new VIX
|
|
|
Rank: Elder Joined: 10/11/2006 Posts: 2,304
|
mnandii wrote: Bitcoin has burst out the blue downward slopping trend channel. Waves (i) and (ii) are in place. Bitcoin is rising as per our previous analysis. The targets for the rise are 10,000 - 10,400s levels. Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
|
|
|
Rank: Hello Joined: 6/7/2018 Posts: 1
|
People should learn to trade cryptocurrencies and profit whether falling or going to the moon. Mail mtbtraders@yahoo.com
|
|
|
Rank: Elder Joined: 12/7/2012 Posts: 11,901
|
mtb trader wrote:People should learn to trade cryptocurrencies and profit whether falling or going to the moon. Mail mtbtraders@yahoo.com mail for what? In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
|
|
|
Rank: Elder Joined: 9/20/2015 Posts: 2,811 Location: Mombasa
|
Angelica _ann wrote:mtb trader wrote:People should learn to trade cryptocurrencies and profit whether falling or going to the moon. Mail mtbtraders@yahoo.com mail for what? Conman on the loose testing Wazua spirit and those who post here.Ashindwe! John 5:17 But Jesus replied, “My Father is always working, and so am I.”
|
|
|
Rank: Elder Joined: 7/11/2012 Posts: 5,222
|
Spikes wrote:Angelica _ann wrote:mtb trader wrote:People should learn to trade cryptocurrencies and profit whether falling or going to the moon. Mail mtbtraders@yahoo.com mail for what? Conman on the loose testing Wazua spirit and those who post here.Ashindwe! Ashindwe kabisa
|
|
|
Rank: Member Joined: 11/9/2007 Posts: 288 Location: OZ
|
This fastest way of loosing monies....ask me ...I trade CFDs everyday.. Run and Run away!!! This is not for little guys!! More monies, more problems...
|
|
|
Rank: Elder Joined: 12/7/2012 Posts: 11,901
|
https://ambcrypto.com/an...-ripple-xrp-at-0-63/amp/In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
|
|
|
Rank: Member Joined: 1/22/2015 Posts: 682
|
mnandii wrote:Bitcoin has bottomed at 7031 and is ready to rise to above the previous highs of 9800. Targets for the rise are now between 10000 - 10400. Be long. It is now at $6500. I'm guessing us who have not read 100 whitepapers on crypto we are the blind ones. You who is speculating merely on the direction of the price are the enlightened one. Boss, most of your analysis in this thread has been wrong. I just hope you had not put too much money here.
|
|
|
Wazua
»
Investor
»
Offshore
»
Speculating in cryptocurrencies: A rough approach
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
|