[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 420 KB, 3020x2184, coinbase-pro-btcusd-Mar-09-2020-13-7-58.png [View same] [iqdb] [saucenao] [google]
17665571 No.17665571 [Reply] [Original]

Can we have a real discussion about where BTC is going in the long term? Is this chart bullish or bearish? I don't know anything about trading myself so maybe some more intelligent anons can shed some light?

>> No.17665585

fuck bulltards and kikes and op

and jannies

>> No.17665620

we don't know yet, but everyone's getting pretty fucking nervous.

>> No.17665643

>>17665571
Bitcoin will replace fiat entirely. One satoshi will be the dollar of the future so if you own 1 bitcoin you will be a millionaire. But due to the deflationary nature of bitcoin your dollar will only increase in value over time.

>> No.17665642

Is it bad if BTC falls below the blue line?

>> No.17665650

Can’t say for sure yet. These next few minutes are unironically critical for bitcoin

>> No.17665674

>>17665571
it's going to zero obviously
it has no value at all, is backed by nothing, generates no income, costs billions to run each year.
It was a great ponzi as long as everything was going up

>> No.17665680

steady bleed to 6k.
crash to 3k.
bleed to 1.5k
moon too 100k (in 2100).

>> No.17665711

Chainlink is the new bitcoin.

Bitcoin is dial up AOL.

Chainlink is 5G + fiber optic + quantum entangled data transfer.

Don't be dumb.

>> No.17665715

guess yourself, faggot..

https://digitalik.net/btc/


all of you are scared as fuck, chads are about to enter the market.

>> No.17665721
File: 64 KB, 1348x902, download (12).png [View same] [iqdb] [saucenao] [google]
17665721

>>17665571
7650,7750 breaks goodbye

>> No.17665772

>>17665715
>CURRENT MODEL PRICE (10D/365D)
>6.944 / 8.285
Damn that sounds bearish as fuck. Are we really not going to have any good news this year?

>> No.17665798

>>17665571
It’s going in the toilet because only terrorists and child pornographers use cryptocurrency.

>> No.17665809

>>17665798
Well I've used it to buy things and I'm not either of those.

>> No.17665810

this is the bottom
coin goes up
money goes much

>> No.17665880
File: 706 KB, 1600x628, 2A0145D7-919D-41CC-B723-35C69CA1A3B1.jpg [View same] [iqdb] [saucenao] [google]
17665880

>>17665711
When does it take off?
I’ve been watching it for a few weeks now.
Is a Coinbase a good app to use?
I’m new to investing. I had a normie bank managed portfolio a few years ago(20k) took it out to buy an airplane and a bunch of antique guns/ammo.
Looking to get back into the ‘game’.
If I want to keep this airplane I have to make some more fucking money..

>> No.17665896

>>17665880
You bought an airplane for $20k?

>> No.17665929

>>17665896
No. Plane was 120k. I took it out to pay for a chunk.

>> No.17665939

>>17665880
No one knows. If you want to comfortably hold Chainlink, you're gonna have to research it. If you don't understand it...it is the most stressful thing to hold due to its volatility. There is a pretty large learning curve to overcome to understand it. Good luck. Start by Googling "Chainlink The God Protocol"

>> No.17665958

>>17665929
What do you even do with an airplane? Don't you have to pay thousands of dollars a month just to store it somewhere? I thought that was something only ultra rich people could afford.

>> No.17665978

Why would bitcoin go up? From a technical perspective it hasn't evolved in nearly a decade. Still 1 MB blocksize.

>> No.17665993

>>17665571
$14k by end of 2020

>> No.17666023

>>17665958
You don't need to be ultra rich to own and maintain something like a Cessna. I used to have a 1970s Cessna that I'd fly between the keys and mainland FL

>> No.17666048

Tezos will climb to the number 1 spot

>> No.17666062
File: 143 KB, 1114x809, 329701A0-963B-47FB-8A61-22AF28A48E8A.jpg [View same] [iqdb] [saucenao] [google]
17666062

>>17665939
Thankyou. I’ll look into it before doing anything.
>>17665958
Cessnas are not impossible to own. Compared to a private jet or helicopter they cost next to nothing.
Without financing payments mine costs about $90/flight hour to run.
I have a private airstrip in the middle of nowhere, so no storage fee.
Airplanes appreciate in value. But they don’t make a lot of financial sense to own. It’s a labor of love. Can’t think about how much it costs

>> No.17666077

(I also used to charter flights for people to offset some of my costs. Very easy to charge $500 per person for a short one-way flight from Punta Gorda to Miami, from Naples to Key West, etc.)

>> No.17666089

>>17665993
I could see this

>> No.17666091
File: 56 KB, 1142x626, FOMO in.png [View same] [iqdb] [saucenao] [google]
17666091

>>17665978
Gold hasn't evolved in a decade and went up. So can't be a store of value and can't be real consumer demand. Print tether and magic happens

>> No.17666120

>>17665620
I'm not...cause I'm not a newfag.

>> No.17666128

>>17666077
Need your commercial license and air taxi certs for this though.
But yes. Realistically they have to be able to make a little money for them to be justified. I use mine as a pickup truck for a related business.

>> No.17666165

Sorry, just to add:

These people would most often want to travel to and from their location and would most often be in groups of two or three. So for me, that'd be $3000 in my pocket for very little air time, plus a paid trip to somewhere in south Florida...it was a fun time in my life. I would love to eventually retire and figure out a similar operation flying between places like St. Martin and St Barth's

>> No.17666186

CIA drug fiat is going to 0 braincel

>> No.17666209

>>17666165
That would be a sweet gig.

>> No.17666373

All memes aside, is there merit putting some money back into stocks/link?
Would be nice to make a little bit off of this shitshow.

>> No.17666445

>>17665571
Quantum computing will make bitcoin worthless

>> No.17666469

>>17666091
Gold doesn't need to evolve. Your worthless FIAT has

>> No.17666471

>>17665571
are you fucking blind? that chart is clearly bullish, in the long term it only points up.

>> No.17666481

>>17666373
All memes aside, Chainlink is poised to be a very important aspect of the future world economy which will have some very strange aspects to it. But I also would not take any investment advice from biz. I suggest you researching it yourself and coming to your own conclusions.

>> No.17666510

>>17665798
>neither of these groups have ever used cash before crypto
you're an actual retard

>> No.17666524

>>17666471
BTW, we are VERY close to the next bull run, after this coronafag and oil price dump are gone, start buying BTC, thank me later.

>> No.17666581

>>17666524

This. Once the weather warms, and its starting, and corona virus is forgotten this shit is going to go so high. Also timed perfectly with the halving.

>> No.17666664

>>17666581
Yep. And with governments massively inflating their currencies worldwide because of the corona panic, bitcoin can only go one way and that's up. A deflationary currency always gains value relative to inflationary ones.

>> No.17666677

>>17665643
yeah so cool so much value in a blockchain that takes 15 minutes to process one transaction totally gonna replace fiat

>> No.17666775
File: 159 KB, 1213x723, btc.png [View same] [iqdb] [saucenao] [google]
17666775

there were two separate supports at around 8k and it broke though both of them. we are now in a descending wedge.

>> No.17666848

>>17666469
Fiat did evolve. You can send it anywhere in the world instantly at virtually no cost, you can withdraw it from an ATM at no cost, you can spend it with a card anywhere in the world and be given free charge back protection and protection against fraud. So bitcoin has no advantage if it fails to function as a store of value like Gold

>> No.17666882

>>17666481
Kek

>> No.17667060
File: 29 KB, 1018x327, sergempty.jpg [View same] [iqdb] [saucenao] [google]
17667060

>>17665939
Chainlink is big time manipulated. I checked the price 10 minutes ago and it was $3.83 and now it's $4 again now. I understand the tech and what Chainlink is/does, but that doesn't mean it will be completely operational or adopted soon. If anything, LINK is overvalued. When the full scale oracle network they are building launches, then it might be worth the price tag is currently holds and then some.

They haven't solved the God Protocol. You're a brainlet if you think they have. Not to say they aren't working towards it. Ari Juels is the brains behind it. Sergey doesn't do any of the coding and real work behind Chainlink. His Github is basically empty and he only created the chainlink smartoracles repository.

>> No.17667135

>>17665571
stock to flow is in the 7k range until the halving

>> No.17667497

>>17666677
The catch is it's not the main currency that is innovative.
>Fiat money is a currency without intrinsic value that has been established as money, often by government regulation. Fiat money does not have use value, and has value only because a government maintains its value, or because parties engaging in exchange agree on its value.

It has no real value, but it's agreed upon that it is valued because the collective belief that it does.The real ponzi is fiat.

In other terms, it's not the bitcoins themselves that is valuable. It's the network and the mechanisms that make bitcoin work. For Bitcoin to really gain adoption, there has to be scaling. Now, it's not even close to being that. Not even a hair close. What needs to be done is creating software and tech around the Bitcoin network to enable worldwide scaling. Lots of technology such as memory, bandwidth, and capacity to store the blockchain have to be made much, much better. Mining equipment has to evolve and become better. If the tech that powers the bitcoin network doesn't continue to improve, then Bitcoin will fail. Mining bitcoins is not a hobby. It requires mining to stay alive. Difficulty drops are due to miners leaving because of it not being profitable to mine or sell. It's much more a business than a hobby like it was in 2009.

>> No.17667753

>>17667497
What do you think everyone is doing?
This is being developed on all fronts.

I set up a LN node last week, and did some payments.
Compared to a year ago it's built out way better.
There's way more science and math going into fee calculations and channel management options
It's not totally seamless yet, but in one year an open source project it has came very far
BTCpay is integrated into my raspiblitz LN node, software like that allows me to operate a online store with no 3rd parties unless I decide to hedge in my local currency I get to choose my bank
This is revolutionary technology but it takes 3 days to learn and set up, and the bitcoin economic system itself takes years to understand

>> No.17667876

>>17667753
LN is a good step forward. There's two sides to it. One side thinks it's a blockstream bilderberg funded centralization project of a Bitcoin. The other side thinks it can help scale Bitcoin enough to enable it to be as efficient as Visa as far as tx/s are concerned. That's p cool you are using it and it's working okay.

There's just a forced push of cryptocurrency adoption when there needs to be a gradual shift to it to avoid any problems. One bad line of code could initiate a lot of problems. The crypto scene we see today will be different in 20 years

>> No.17668786

>>17667876
>That's p cool you are using it and it's working okay.
Nobody's using it cos it aint (and it was always a stupid idea)

>> No.17668873

>>17665571
This chart looks fucking bad
For a good chart, look at Verasity

>> No.17669052

>>17668786
There are channels open on LN. It's not perfected yet though.

>> No.17669153

>>17667135
PlanB said march won't close below $8600 otherwise it would go against his indicator and that has never happened in history of btc (allegedly). Interesting month it's gonna be

>> No.17669612

>>17666581
Here is what will happen. We will break the 200 week ma causing trader capitulation. We will break 3k causing miner capitulation. We will test 1k as a support after it was resistance for 5 years. Only then can the golden bullrun start. I been saying this since last year

>> No.17669695

Back to 3k I hope you didn't go all in at 10k

>> No.17669818

Look at the Nokia stock chart to see what Bitcoin will likely do over the next few years. There’s no buzz around it anymore, it only went to $20k because of word of mouth, no different than a ponzi or MLM scheme. There are no new buyers or new interest or hype. Why would there be? No government is going allow BTC to replace currency and its slow as shit anyway and consumes a ton of energy. Also consider all these alt coins are massively faking their daily volume and have very little liquidity. As someone already said BTC will likely bleed to sub-$2,000 in price, we haven’t seen the bottom yet.

>> No.17670120

>>17669818
>comparing BTC to stocks
and this is why you will stay poor

>> No.17670227

>>17669818
Literally what the fuck did i just read? U compare manifacturer that made all the mistakes after it brought finland from recression to digital gold?

>> No.17670325

>>17666091
Gold has thousands of years or more under its belt as an exchange of value and is used in jewelry and computers. Bitcoin is an experimental digital currency that's been around for a little over a decade. You can throw at me that it's digital, decentralized, large amounts of bitcoins can be sent anywhere unlike gold, and that still wouldn't matter. It's a volatile market because of how unregulated it is and the activity on exchanges.

>> No.17670561

>>17670120
>>17670227
I'm not comparing Bitcoin to Nokia stock (although both are shitty and slow and outdated), I'm comparing the way Bitcoin's chart is playing out compared to how Nokia's, and many other stocks, played out over its life cycle. Greed is greed, these patterns play out everywhere, not just in stocks. You have a $20k top, a $14k echo bubble (just like Nokia's stock chart with a top and then an echo bubble) followed by a long, prolonged downturn. No one is coming to buy your bags. It's over. The fact that Bitcoin is performing so poorly when it was supposed to be a hedge against market uncertainty and unrest is a damning signal.

>> No.17671160
File: 881 KB, 320x320, 133.gif [View same] [iqdb] [saucenao] [google]
17671160

>>17665571
Bearish pennant/wedge. This pattern appears frequently on smaller time frames after pump and dumps. There will be successively smaller pumps/dumps until crabbing before a dump below the support line.

The trading volume has been on the decline for the past 2 years (check the aggregate volume of just major exchanges). Normally, before bullruns, we would see a gradual ascent with volume picking up. Whales might try to force this through the "Momentum Ignition Algorithm" algorithm (aka Bart). Sometimes it works and sometimes it doesn't. If it doesn't, they would dump.

>> No.17671353

>>17666775
that's a lot of lines man...

>> No.17671982

>>17666677
>what is bsv?

>> No.17672438

>>17667876
>One side thinks it's a blockstream bilderberg funded centralization project of a Bitcoin.

Centralization in the Lightning Network is inevitable. In fact, it's already happened. No one would trust random nodes for transacting. According to researchers, 10% of the LN nodes control 80% of the transactions, so there's goes the "trustless" system intended by Satoshi

https://www.coindesk.com/bitcoins-lightning-network-is-growing-increasingly-centralized-researchers-find

>The other side thinks it can help scale Bitcoin enough to enable it to be as efficient as Visa as far as tx/s are concerned.

Read the white paper. It's only for microtransactions. That means you should only send what you can afford to loose. It looks like a fake scaling solution created to satisfy an intellectual curiosity than a serious attempt at actually scaling Bitcoin. There's hardly any demand for microtransactions so why is it touted as a scaling solution when it's meant for only a tiny minority of all BTC transactions.

The two people who conceived of the Lightning Network don't even have any professional experience working in software development. (You can look up their names.) So, it's not surprising that their ideas are totally out of touch with the real world demands.