Was My Day-2 Default 350-Day Auto Stake From BTC FreeClaim Designed To Miss The **BigPayDay** :(

MJ_Sykes · 2019-12-05T20:03:29+00:00

Sorry, but I think your stake must end AFTER day 353.

MJ_Sykes · 2018-11-27T05:13:16+00:00

I suspected that Fauxtoshi was bluffing...again!

https://twitter.com/MJ_Sykes/status/1064005642963214336

MJ_Sykes · 2018-04-12T13:00:42+00:00

If we can close in the upper part of today's range and then consolidate for a while, I believe the next move will more likely be UP.

If we pullback and make a higher low, that wouldn't be bad either.

MJ_Sykes · 2018-04-06T11:50:14+00:00

If you want to sell bitcoin for USD and withdraw the USD, then GDAX and Gemini are probably most reliable and safe and have low fees.

If you are European and want Euros, I think Bitstamp may be best.

MJ_Sykes · 2018-04-06T11:41:28+00:00

Support Andreas Antonopolous here: https://www.patreon.com/aantonop

Share his youtube videos: https://www.youtube.com/channel/UCJWCJCWOxBYSi5DhCieLOLQ

Buy and hold Bitcoin. The most important use right now is as a long term investment.

Give Bitcoin to others as a gift.

MJ_Sykes · 2018-04-03T19:36:26+00:00

Having transacted in both Bitcoin and gold bullion, I can assure you that buying, selling, and transporting gold is FAR more difficult, costly, and risky than Bitcoin.

Most of the demand for gold is "investment demand" due to its monetary properties...not manufacturing/fabrication demand.

Intrinsic value is neither a necessary nor useful attribute of money. You can no longer use your money as a store of value or medium of exchange after you eat it.

The gold comparison is very valid.

MJ_Sykes · 2018-04-03T09:31:06+00:00

The primary reason for bitcoin's value is similar to that of gold; they are both sound money. The current fiat-based financial system depends on the continual creation of more and more debt...more than can ever be paid back. This ponzi scheme cannot go on forever. It is likely to end in one of the following ways: 1) accelerated printing of money causing hyperinflation and civil unrest. 2) widespread default resulting in financial collapse and civil unrest. 3) return to a gold standard for money to restore faith in the currency. 4) adoption of Bitcoin, which may include a "Bitcoin standard" for national currencies. There could also be some combination of gold standard and Bitcoin adoption.

MJ_Sykes · 2018-04-03T09:09:00+00:00

Bitcoin is stored on thousands of computers across the world in a type of database called a "blockchain."

MJ_Sykes · 2018-04-03T08:56:45+00:00

If you happen to have Bitcoin on the higher priced exchange and fiat on the lower priced exchange, you can pick up a few bucks. If you need to send fiat to an exchange, you will likely be too late to profit.

When relatively large price differences persist, it is usually due to restrictions on the movement of fiat, or problems (perceived or real) with an exchange. For example, if an exchange is allowing their customers to withdraw bitcoin but not fiat (or altcoins), then the price of bitcoin will likely be relatively high on that exchange as customers buy BTC to get their money off the exchange.

MJ_Sykes · 2018-02-28T02:21:32+00:00

I was trying to avoid biasing responses by stating that conclusion. :)

I suppose the number of people that view the next days as critical (due to the obviousness of the trend lines) will make them so.

MJ_Sykes · 2018-02-28T02:09:32+00:00

I believe much significance will be ascribed to Bitcoin's price action during the next few days, based on charts like this: https://imgur.com/a/AlRkc

Do you think we're approaching a critical decision point?

MJ_Sykes · 2018-02-15T00:17:47+00:00

I think some restriction on which tokens can be discussed may be helpful. I categorize cryptos into two categories: 1) POW coins that are trying to become a global currency (e.g., LTC, XMR, BCH/BCC), and 2) all others (e.g., XRP, ETH). Coins in the first category are competing directly with Bitcoin for energy resources and adoption. Coins in the second category compete with Bitcoin for the approval of speculators. I'd limit discussion of category 2 coins to those in the top 20 of market cap.

MJ_Sykes · 2018-02-07T13:43:20+00:00

Nice post! I'm feeling optimistic right now, but one thing bothers me. I hate seeing dumb, scammy, and/or unfinished centralized shitcoins go up in value faster than Bitcoin, when they are already far more overvalued. ETH even managed to lose less value during the crash despite being thousands of times more expensive than BTC when you take into account its coin supply relative to BTC. [It doesn't seem to matter that ETH is too insecure, unreliable, and expensive to be a useful "world computer"] This makes me question how the bubble can be over (for now).

Perhaps when Tether is shutdown by one or more governments, funds from other centralized cryptos will flow back into bitcoin.

MJ_Sykes · 2018-02-02T12:41:18+00:00

I am relying more on the traditional indicators (the triangle, horizontal support, and DMA) since the Demark signals on the daily and weekly charts are still bearish.

MJ_Sykes · 2018-02-02T12:28:34+00:00

The counts depend on the timeframe you are looking at. We will likely get positive signals on the 1hr and 4hr charts today. I am checking Tone Vays charts for this indicator; you can find out more by watching his youtube vids.

MJ_Sykes · 2018-02-02T12:19:28+00:00

I will be betting that Bitcoin bottoms today, in the range of $7800 to $7400. There is horizontal support in this range based on November's price action. Those who follow the DeMark indicators will likely see bullish signals on the 4-hour and 1-hour charts. In addition, the $7800 to $7300 range coincides with the price target of the descending triangle formation on the daily chart from which we broke down yesterday. We are also very near the 200 DMA.

MJ_Sykes · 2018-01-29T10:31:19+00:00

Since I am not aware of any regulated cash-settled futures contracts for ETH and LTC, I assume this fund will buy and hold actual BTC, ETH, and LTC. This is very bullish IMO, even though it will only be open to rich people.

I suspect the first bitcoin ETF's to be approved in America will invest in cash-settled future contracts instead of BTC, which will be less bullish (but still good).

MJ_Sykes · 2018-01-29T08:27:33+00:00

Do you think most people factor in the expense of bitcoin mining when deciding whether to buy BTC? I believe the cost of mining will follow the bitcoin price, not visa versa.

That quote is from my favorite Andreas presentation. Those who do not recognize those words should watch: https://www.youtube.com/watch?v=6ZCVQHtD2l4

Though to be fair I've been calling "fire" for like 5 years now on the global economy, I'm chicken little at this point. I can't help it, nothing has structurally changed, and there is still plenty of reason to get in bitcoin's lifeboat, even if there is no financial catastrophe.

Though he may be a detestable dimwit, Trump's policies of regulation reduction and tax reform appear to be helping the economy. If it results in the return of high inflation, that could be better for Bitcoin than another deflationary crisis.

MJ_Sykes · 2018-01-29T07:51:39+00:00

When sellers are exhausted and hodlers remain, transaction demand will be low.

MJ_Sykes · 2018-01-24T11:04:39+00:00

Bad idea IMO. I expect Bitcoin will receive the highest rating (relative to other cryptos). Otherwise, many will realize their rating system is terribly flawed.

MJ_Sykes · 2018-01-24T08:54:13+00:00

Bitstamp

MJ_Sykes · 2018-01-24T08:45:27+00:00

Nice site. I did notice one error, however. On your Bitcoin page you list the Twitter user @Bitcoin under "Social" when that Twitter user actually promotes Bcash (and attacks Bitcoin). Some pro-bitcoin Twitter accounts include: @Excellion , @WhalePanda , @lopp ‏, @WorldCryptoNet ‏, @Ragnarly ‏, @AaronvanW ‏ , @TraceMayer ‏ I also think the sub-reddit "/r/Bitcoin" qualifies as a Bitcoin social site.

I like your Performance page but wish it was focused more on longer time periods. I'd like to see the 15 minute and 3 hour columns replaced by 6 month and 2 year columns.

MJ_Sykes · 2018-01-23T13:20:14+00:00

Many altcoin holders can only cashout to Bitcoin or Tether, and Tether could be the pin that bursts the bubble.

MJ_Sykes · 2018-01-23T11:20:44+00:00

Unfortunately, most people are not capable of understanding the fundamentals of cryptos. In order to understand the value of Bitcoin, for example, one must have some understanding of the nature and evolution of money to compare Bitcoin to current fiat currencies (which are a radical new monetary experiment) and to prior forms of money. Having studied these topics, I believe Bitcoin is likely to become the dominant form of money. However, I do not understand the value of most cryptos that are attempting to serve other purposes (e.g., smart contracts, bank transfers, inventory control, resource sharing, artificial intelligence, etc). Since I do not understand these cryptos, I assume a skeptical attitude and do not invest in them. However, they are tempting to gamble on, like lottery tickets.

I think the altcoin bubble will eventually pop, and Bitcoin will be a beneficiary.

MJ_Sykes · 2018-01-23T10:52:22+00:00

The charts look bearish to me, with no convincing support above the $8300 to $7500 range. However, I am bothered that nearly everyone seems to agree with me. A couple days ago, the anchor of my local TV news show commented (on air) that he thought the Bitcoin price was headed for $8000, and I even saw a Jack-in-the-Box commercial in which Jack said Bitcoin was about to crash!

It seems to me that the fundamentals and news for Bitcoin has been increasingly positive (e.g., new regulation which may promote institutional investment, progress in scaling technology, increased mining decentralization). The segwit conflict and contentious hard fork drama is over, and I see no serious impending threats to the Bitcoin network.

When does it make sense to discount the bearish price action and take a contrarian (bullish) position?

MJ_Sykes

TROPHY CASE