discuss Bitcoin above $16,000. Where is it headed?

[Arpit131]

Bitcoin is already trading at $16,300+

Where do you think it will cap out?

 

[GILSAN]

How would you vote?

 

[xynames]

That uh...makes a statement!

 

[urlurl]

How would you vote?

i wonder how different it would be if asked if you would take $10k from your life savings, what would you do

also, why were stocks and other investments excluded from this survey, hmmm

 

[wwwweb]

How would you vote?

gold bars, or bitcoin either or, I am good, no worthless paper please

 

[xynames]

I had this exact “dilemma” couple weeks ago when I was owed a little over USD $10,000. and I chose btc over bank wire.

I just accepted over ten grand (USD), in BTC from a client for services rendered, in lieu of a bank wire, so that should show how committed I am to this currency. I have far more BTC that just the 1+ coin that was sent to me, but still ten grand is not peanuts.

I have been accumulating and holding BTC since 2013, and have no plans to sell anytime soon.

I actually took a screenshot of the payment at that time to show the client the exact value of the payment so that he could know that he did not overpay (he actually underpaid by about seven dollars):

and here is the value today, about ten days later, with BTC not even at its high:

Now, none of this means anything until I cash out which I have this and many more BTC and not planning to cash out anytime soon, but still - so far, so good!

Only "downside" is that I just billed the client on Friday for another $1000. in services and he is pointing out that I am $5000. ahead, which actually, on Friday I was $7000. ahead. He is saying, "You made $5000. off me!" so then of course I have to give the complicated explanation of why it's all paper profit, that none of this should matter, etc...ending with the punchline of, "How would you like to pay this $1000.?"

 

[xynames]

Earlier today collected another couple hundred USD in 'coins, not worried about price fluctuations. Bring 'em!


Actually already up a few dollars even on those from today, lol.

 

[E-Promote]

Don't try to pick tops or bottoms, let them show themselves. React don't predict.

Besides, Bitcoin is a bubble now, if I took any position it would be short when the time is right.

The Cboe launches it's bitcoin futures Sunday, the CME launches it's Dec. 18.

 

[shorterwinters]

How would you vote?

i wonder how different it would be if asked if you would take $10k from your life savings, what would you do

also, why were stocks and other investments excluded from this survey, hmmm

Twitter is probably the last place to take a poll like that and have it mean anything. Place is foaming from the keyboard and crazier than a shit house rat over crypto though it would be interesting if stocks and such were a choice.
Still trying to grasp the whole thing.
Pretty interesting watching it and everything around it unfold.
I found it fascinating watching it Thursday and Friday especially. It's almost scary.
What happens when the next 4-5 million are mined and that's it?
Interesting times coming up I think.

just saw this.....hahahaha.....kind of says it all.
https://twitter.com/6BillionPeople/status/939706427706433537

 

[gotasale]

I am very skeptical about Cryptos
And have only 200$ worth of them

But I expect the price to explode with this future release but it will be big jumps ups and down

Shooting to 20-22, then back to 18.. And so on

Interesting!

 

[slimjim270]

The $10,000 was "gifted" (no effort to earn it).

The reason I mention this...

If the same survey were phrased differently and indicated you had to work shoveling shi* on a farm for a 3 months to earn $10,000 and then had to put that money away for 10 years, then which of the following 4 choices would you pick (knowing you would have to go back to shi* shoveling if you lost it)... I bet the responses might skew towards a more conservative approach.

Sweat and effort change a person's perspective towards risk and stability.

 

[xynames]

It doesn't mean anything yet, too soon to say, but the futures trading I'm observing in my Deribit account have been steadily rising. Average strike $15,400. now was as low as $15,100. or so. Average strike for March 2018s is $15,800.

As far as options, much higher premium on the Dec. 29th close to the money calls than puts at strike $15,000. - calls average premium $2450. per contract, puts more like $2000.

The above are all for Derebit, which has actually been trading BTC futures and options since July 2016.

Because I have a lot of capital I've always preferred the actual stock to options - no expiration date with the equity - but it will be interesting to see how more mainstream futures and options affect BTC. With regular stocks most options expire worthless.

With stock, options are like the tail versus the dog being the stock. Similarly with BTC, mainstream futures trading may turn out to be much ado about nothing.

 

[xynames]

Okay, with CBOE open - Derebit futures strikes are flying up, average strike over $16,000. already.

 

[xynames]

Average futures strike over $16,100. now.

Anyway, see what happens, too early to say, but the instant cataclysm predicted by some "analysts" and some on this thread, is not happening.

Like I said yesterday:

It’s naive to assume that anything works out the way experts predict. Watch and see.

 

[D Haynes]

I hate that I don't have a clue what you're talking about lol it sounds exciting!

 

[.NJ]

The manipulation that is going on right now is straight out of the Bernie Madoff files....

 

[xynames]

Don’t get out much do you? if you seriously consider tonight’s action to mean much of anything.

More like a big yawn. Futures and options trading on BTC has been going on for a year and a half. Tonight all that happened is it started to go mainstream and rather than provoking havoc, prices stabilized.

This story hasn’t been completed yet but the title of tonight’s chapter could be Much Ado About Nothing.

 

[.NJ]

Don’t get out much do you? if you seriously consider tonight’s action to mean much of anything.

More like a big yawn. Futures and options trading on BTC has been going on for a year and a half. Tonight all that happened is it started to go mainstream and prices stabilized.

LOL.

The futures and options trading your talking about was backyard trading compared to whats coming.

Are you really comparing the options trading that has been active for the last year or so with what is coming?

And to be clear I own btc and have for a long time.

But I see the writing on the wall a mile away.

 

[xynames]

I won’t make any assumptions about your experience.

But I’ve been heavily involved in the stock market for many years and as I mentioned above, options/futures are like the tail, while the stock itself is the dog. The tail doesn’t wag the dog and so far this remains true whether we’re talking about bitcoin or AMZN.

Most options expire worthless and it’s mostly folks who can’t afford to buy large amounts of the underlying stock who play them.

—-

And if you want to talk about shorting - in the history of stocks there has never been a case where shorting in and of itself led to a stock’s long term decline. Sure, sometimes when things are dicey news that some big player entered a short position might short term rattle the market but over all, over time, a stock tends to go wherever it would have gone anyway, with or without a large short interest.

—-

Given that you and I both own btc we should just wait for 2018 because it should bring higher prices. Good luck to us!

 

[xynames]

Current price, bit of a Beastly number!

 

[urlurl]

Bitcoin as a payment utility is useless, slow and and high fee's - the benefits of using bitcoin as a payment alternative are gone.

https://www.cnbc.com/2017/12/11/bit...about-the-future-of-the-digital-currency.html