As of right now that amount of Bitcoin would be worth nearly two and a half million dollars, but I pissed it all away so I could get my ballsack electrocuted instead. I am haunted by this mistake nearly waking second of every day.
Tuesday, February 23, 2021
Stock market correction continues. I'm looking for entries.
Markets are getting wild. New and greedy traders can only see higher prices in small caps, tech, bitcoin, and even silver now. This isn’t even a very big stock correction yet and I see posts about massive losses. New traders who only know markets that go up have extreme leverage on YOLO options that expire in days. On the dips they buy more. Short-term they feel like geniuses and post their accounts going up 1000% in days. They will all end with $0. Their risk isn’t sustainable and they are trading on borrowed time.
Controlling your risk is hard. Extremely hard. You have to be able to ignore FOMO of more potential gains and be happy with what you have made. Most people can’t do this and even if they time a wining trade right and ride it up, they have no plan to profit and end up riding it all the way back down.
Make a strategy for yourself that books REALIZED PROFITS when the market rises, and is prepared for an inevitable sell-off when it falls. If you fail to plan for what could happen, the market will make a plan for you. Make peace with missing parts of big moves, and be happy with taking portions of the rally’s you time right. Controlling greed and having a plan on when to sell (up and down) is the only way to profit in the market long-term.
Stocks continue to decline and I even put back on some some small short positions yesterday. I didn’t see any bullish signs yesterday other than traders trying to “buy the dip” and time a bottom. This type of action is what makes declines last. Traders buy a “deal” based on recent prices being higher, then are forced to panic sell even lower. I’ll likely take profits on the shorts as soon as this morning’s gap down open. I’m not greedy, especially with short positions during a bull market. This market could jump straight back up to new highs without warning.
Despite this morning’s action, I don’t want to be on the short the side of the market for more than quick scalp trade here. That’s why I don’t recommend them. I can’t ensure everyone reading this would control greed and get out. Then they could be stuck in a short position in a potential bubble market. For now, the correct side of the market is still the long side, this is just a short, necessary correction. Here’s why:
The US economy is about to reopen, more stimulus is coming, interest rates are staying low, and the fed is still buying with both hands. People are about to feel euphoric as they are able to get back to their regular lives, see friends, go to events, and travel. Once this euphoria spreads to the final bubble in stocks and everyone sees no risk and think everything is going to go up forever... that’s when to sell and take a break from the market. We’ve seen some sectors overheat (electric vehicles, solar, fuel cell, big data), but a broad market-wide rally is still to come.
Corrections are natural and necessary. The real money is made on the long side. That’s the opportunity I’m looking for now... To buy and potentially ride the bubble phase.
I think tech, semiconductors, and genomics have to most potential once the market turns back up. I’ll stress, be patient and wait for a turn. Even last Friday’s move higher was just a bounce. Lots of traders bought and likely didn’t sell yesterday. Now traders will start to panic. At some point soon there will be a snap-back higher and we will see if QQQ, IWM, SOXX, and XBI can make new highs or if they fall short. When you buy, always have stops you are comfortable with. If your stop is too far away, find a different risk, or reduce your position size.
Looking forward, if the Nasdaq isn’t able to push strongly through 14,000 on the next push higher, markets may have just seen a short term high on extreme sentiment. Markets have rallied since September and could need some time to cool off. Action could be very a choppy, sideways/downward action for weeks. I’ll continue to trade the long side in the areas with the most potential, keep stops in place, and take gains “early”.
On silver, I’m holding my PSLV position with a close stop. There was heavy volume in silver yesterday, but not the price movement to make this a strong breakout. High volume and at a relatively flat price makes me worried a powerful move down could come soon if price doesn’t take off above the #silversqueeze prices that started the month.
Silver needs to break its highs from earlier this month and do it with force. If it doesn’t, it feels like traders are being set up here. Gold and gold miners are still trending lower and generally lead the precious metals market. Silver tends to lag gold, then snap (higher and lower). I’ve been looking for a bottom in metals since October. While it looks like it could be the move Ive been waiting for here, I still need to see the right action.
Right now action looks like new retail traders are piling in and the market is still easily controlled by the manipulators. I hope it finally breaks higher, but I’m skeptical given how the last few weeks have played out. For now I’m holding my silver position and have stops in place in case retail traders get taken to the woodshed on their emotional trade. I trade the action I see, not the narrative I want to believe.
As I’ve mentioned in past posts, I want to see the EUR/USD break about 1.2190 decisively. It almost reached that mark over night, but turned back down. Until it moves higher on strength, all risk-assets will experience a head-wind. If DXY breaks down to new lows, then risk-on is the right confirmed trade. Until then, be very cautious.
It’s impossible to know when the top in Bitcoin will come. For me, I made money from the break above 20k to 40k and was very happy with that. When bitcoin went above 40k I bought again, but felt the move wasn’t strong enough and risked a much bigger sudden decline. The risk wasn’t worth the reward, so I got out with a second profitable trade.
Bitcoin could rally from here, but it needs to do it fast (~65k+ by next week). If you are investing in bitcoin here know that you are gambling on a parabolic move. A large correction is inevitable and you are playing musical chairs. I have taken profits and found opportunities elsewhere.
Follow your plan,
RSP
Bitcoin Cash Strengths, Weaknesses, Opportunities and Threats
This is known as the SWOT analysis. Here's what Investopedia says about it:
SWOT (strengths, weaknesses, opportunities, and threats) analysis is a framework used to evaluate a company's competitive position and to develop strategic planning. SWOT analysis assesses internal and external factors, as well as current and future potential.
So let's try it, in a light-hearted manner, shall we?
Strengths
We are an instance of Bitcoin, the invention. With that we inherited a technology that has worked without fail since 2009. That is a strength.
Technology is just an enabler, though. People build, and we have a lot of devoted people, all around the World, who speak diverse languages and are coming from diverse cultures and background. Isn't that something special? I think it is. You built this! Yes, you!
- You, node builders, 6 distinct teams! You're busy building node implementations, thinking about how to improve on what can be done with Bitcoin Cash while being extra careful to keep the security promise. What are nodes? Computer programs which operate directly on our blockchain, they are our backbone. Like e-mail servers and the complex network between them.
- You, miners! You're running one of those node software, and are busy building and securing the blockchain, block by block, every 10 minutes or so. You never stop, how could you? There's a great reward hiding in every block!
- You, wallet developers, too many to count! You're busy building wallets, thinking about the how to do what can be done, to serve the user the best. You build our financial e-mail clients. We use whichever one we like, and it connects us to a server and enables us to send financial messages, also known as money.
- You, the user! You get to enjoy all that, you get to send these financial messages! You are also building, without even knowing it! You see, in a free market environment, financial messages i.e. choosing who to send money to plays a very important role. It creates a complex network, where fellow humans are rewarded with these money messages for goods and services they produce, and it really is a message. Message saying: I like your product/service, please make more!
- You, another user! You are on the other end, receiving them. You are the one building a product/service for your fellow humans and you are getting these financial messages as encouragement for further work! You are building businesses, big and small. Keep building!
- You, the influencer! I'm not just talking about you stars. I'm talking about everyone who writes anything in public. You, yes you! Everything you write, someone will read. Think about that. When you're talking with someone on a forum, you're not only talking with that someone, you're talking with everyone who may be looking! There's a responsibility in that. You never know how it may affect those who observe, because they won't jump in to tell you but they will observe and make judgement. So be smart about it, think about good conduct!
- You, holders and speculators! You support the growth of our value! Even if you hold other assets, that's cool, get your "tendies" wherever you can, but don't forget to bring some back home :)
It should be clear by now, I see people as our main strength! Let's celebrate it!
Humans of Bitcoin Cash! You will grow Bitcoin Cash into a peer-to-peer electronic cash system for planet Earth! Who knows, maybe even beyond!
Weaknesses
We have to be honest with ourselves about this, we can't run from the truth. We must know and own our weakness, and then we can grow from it! Some of us went through war, not just one. They left a lot of battle scars, some have healed, some have not. Let's revisit our past wars and battles:
- The scaling war. This was the war that went on when Bitcoin was still one. It was a war between people. So you see, people can also be a weakness. It lasted for years. Some didn't want Bitcoin to grow to its full potential of becoming a peer-to-peer electronic cash system for planet Earth! Those of us who were there remember it. We tried to reason, it was no use. So a split was unavoidable. Who won? Nobody. Everyone lost.
- The battle for Bitcoin title. We lost this one. This left big scars. We have to accept we lost the battle for the title, and only then can we heal and turn it into a strength. We all know the truth, that Bitcoin Cash is Bitcoin. Sometimes, though, we can't straight say it to those not ready to hear it. We can whisper it, and amongst ourselves we can sometimes even shout it! It all depends on the circumstance, and that's why it could be both a weakness and a strength. Notice I said battle, not war. This was our first battle as Bitcoin Cash, and it will be our last - the final boss battle. We must first grow big for that one!
- The war with Craig "Satoshi" Wright. This wasted a lot of energy. We won, and we thought we're free to grow from there, but we lowered our guard too soon.
- The war with Bitcoin ABC. This wasted a lot of time because they used to be our leaders and we trusted them but Bitcoin Cash development was stuck, and the market didn't like that, and at the end they even wanted to take our money for it!
Some of you were there during all of those, some of you were not - lucky you! :)
You noticing something? I'm again talking about people. They can be our greatest weakness. Some of you don't care about these battles, you're here to make money and just be users. That's great, happy to have you, just stay alert, ok?
All these battles eliminated people from our community. They made us stronger by eliminating bad actors and making us more cautious, but they also made us weaker by making us smaller and by leaving unhealed scars. Why are unhealed scars a weakness? Because whomever wants to hurt you will try to use them against you by putting salt on them, and it can burn like hell, making you lose your nerve and discipline. Only when they heal they become strong tissue and can be a source of strength.
Opportunities
If people are builders, and they are our main strength, then we need to find ways to amplify that strength! Give it levers! Give it more strength! We do this by inviting people to join us, and by giving people the tools to build. And good news, there's a lot of development going on, focused on giving people the tools to build! This is what technology is, an enabler of opportunity!
The Wallstreet Bets event has shown that people are waking up to the reality of central bank policy, that it's preventing them from enjoying the world of abundance that the free market creates when it's actually free! It will hopefully make more people think about what is the meaning of money, and it could bring them to us.
Threats
Threats from those who see us as threat. Could be governments, could be other companies wanting to build their payment systems or business models which success of Bitcoin Cash might impede. We don't like anti-competitive behavior, we like us a free market. Stay alert!
Also posted on read.cash, I love that site!
[ Bitcoin ] Bitcoin - The Quadrillion Dollar Asset
[ 🔴 DELETED 🔴 ] Topic originally posted in Bitcoin by InteractiveLedger [link]
Bitcoin (or Ethereum) is going to be the first single asset to reach a quadrillion dollar marketcap (in $USD terms), you heard it here first.
1 billion = 1000 millions
1 trillion = 1000 billions
1 quadrillion = 1000 trillions
At 1 quadrillion dollars market cap, it will have an implied price of about $47,620,000.00 per BTC.
That said, it's nothing to be happy or to be proud of, 1 quadrillion US dollars may sound like a lot, but when bitcoin gets there, the purchasing power of the US dollar has probably dwindled so much that the rise of bitcoin is merely just a preservation of your purchasing power. I know it's sad, but it's the direction that we're heading to.
What we've learned so far is that there's nothing impossible when it comes to bitcoin, honey badger does whatever it wants. And I've only realized this after a life changing event recently.
I'm saying this from a hodler's perspective since 2016 (before the 2nd bitcoin halving).
/u/InteractiveLedger your post has been copied because one or more comments in this topic have been removed. This copy will preserve unmoderated topic. If you would like to opt-out, please send a message using [this link].
Is it just me or is this awesome?
What is your buy-in threshold?
Personally i'm waiting for the absolute devastation event. I don't just want blood in the streets, I want dried blood in the streets. A post-Apocalyptic event. I want $5k bitcoin.
This is the beginning of a great reset bois. Lambos in 2025 amirite? Forget the National Suicide Prevention Hotline, This is a time to celebrate! Come on!
Monday, February 22, 2021
BitIRA Review
BitIRA offers the MT4 for brokers who decide on manual exchanging. We don't suggest the manual choice since it's confounded and isn't pretty much as productive as the robotized alternative.
The completely robotized choice through the Bitcoin Up robot is the genuine article. Bitcoin Up is not difficult to use for all and furthermore produces crazy benefits. It's allegedly multiple times more productive than the main Wall Street proficient merchant. BitIRA Review
Bitcoin Up clients can supposedly take in substantial income directly all along on the off chance that they follow the gave exchanging guide. A few clients guarantee to significantly increase their speculations promptly after exchanging with the Bitcoin Up robot.
Exchanging with Bitcoin Up is extremely simple, in any event, for beginners. The UI, for example, is straightforward and accompanies a simple to follow auto exchanging guide. Also, it is appropriate for MAC and Windows.
With BitIRA through Bitcoin Up, you can exchange while in a hurry since they offer iOS and Android exchanging applications. Just enlisted clients can download these stages.
Financial backers are by and large urged to utilize Bitcoin Up when exchanging with BitIRA. You can auto-exchange with BitIRA through Bitcoin Up from anyplace across the globe.
The enrollment interaction begins at the Bitcoin Up site, and afterward you are diverted to the BitIRA page to put aside an installment. The two stages have put resources into idiot proof stages to guarantee that customers' information is protected. BitIRA Price
In addition, they conform to worldwide information insurance measures, including the dreaded EU GDPR. The GDPR is a guideline that administers how online stages handle EU customers' data. It's the most thorough information security law and firms that hold fast to it are viewed as of high caliber.
Visit the Bitcoin Up site and complete the straightforward enlistment measure. This should just require a couple of moments. Your record is endorsed when you check your email and telephone number through a connection and an instant message.
You will be taken to BitIRA page to store and finish the information exchange by confirming your ID and demonstrating your present location. All dealers working in the EU and Australia should cling to severe KYC measures to forestall illegal tax avoidance and other monetary wrongdoings.
KYC measures include ID confirmation, evidence of current location, and verification of installment strategy. As referenced above, both BitIRA and Bitcoin Up notice rigid information security measures.
BitIRA encourages all stores and withdrawals. This is a managed specialist and consequently has quantifies set up to guarantee stores wellbeing. You need just $250 to exchange with BitIRA.
Wire Transfer, Bitcoin, Debit Card, Skrill, Credit Card, Webmoney and Neteller are a portion of the store choices acknowledged by BitIRA.
Upon effective enlistment and store of assets, clients access the exchanging data zone and the demo exchanging stage. BitIRA Signup
stage 2 depositDemo Trading
The demo gives you a genuine vibe of the live stage without taking a chance with any cash. Bitcoin Up demo depends on similar exchanging standards as the live record and exchanges on verifiable information to mimic genuine market happenings.
This implies that the outcomes accomplished through the demo account are an overall impression of the live record. Merchants are relied upon to experience and see all guidelines prior to continuing to a live record. In any event an hour of demo practice ought to get you completely ready for the live exchanging experience.
Live exchanging with BitIRA through Bitcoin Up
As referenced before, exchanging with BitIRA through the Bitcoin Up robot is a breeze. A merchant who has sufficiently polished with a demo record ought to experience no difficulty with the live record. Exchanging happens by just clicking a catch.
The exchanging program does research and afterward sends signs to BitIRA for execution. The intermediary utilizes an incredible request execution framework for moment execution. This takes out slippage consequently amplifying benefits.
stage 3 live tradingBitcoin Up sudden spikes in demand for autopilot, and ideal execution must be achieved if it's left to exchange continuous for 8 hours every day. The robot can consistently produce benefits for a merchant while they are occupied in different exercises.
To avoid rollover charges, a dealer should turn it off at the end of the business sectors in the picked market.
Why exchange with BitIRA through Bitcoin Up?
BitIRA is a top robot dealer, and Bitcoin Up is a well known and supposedly profoundly productive robot. Here is the reason you should consider exchanging with this intermediary through the Bitcoin Up robot.
Bitcoin Up has a past filled with making benefits of up to 600% consistently. As per the numerous Bitcoin Up audits on the web, this robot can create $1 million or more in benefits in under a time of exchanging.
Headed to Chas
Heading over to Charleston this weekend for dad’s 88th BDay on Sunday. Friday we are meeting up at Edmonds Oast for Happy Hour to talk Bitcoin, blockchain, and Validide.
Here is the RSVP if you want to join us: https://www.meetup.com/Palmettochain/events/276525666
I’ll be around all day Sat if you want to meetup.
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