The Litepresence Report on Cryptocurrency

[kfarnan]

"ALL coins are p&d's. If satoshi exited BTC would look like any other bittrex dump."

If a large holder did exit BTC. Wouldn't the supply be redistributed and normalized eventually anyway?

 

[muh_roads]

This is great, if next time i don't know what to buy with my next paycheck, Cisco or bitcoin, I can do both thanks to 1Broker. muhroads have you been using it for a while now?

dj will know more about it. I've only known about it for a few months but I haven't tested it out yet. You can do 20x leverage there I believe and can make a lot without risking a lot. A bunch of guys did well shorting the fuck out of EURUSD there I think.

LOL I don't know what you guys are talking about. Don't understand a word of what you are saying. Can someone get back to the question at hand.. What will happen to LTC when it halves?

Miners will have half the dumping power. When bitcoin first halved in late 2012 (Oct or Nov), it took about 2 months to notice something was brewing. Then bitcoin started bubbling up to $266 by April 2013.

Crypto has no value to the average person and imho ALL coins are p&d's. If satoshi exited BTC would look like any other bittrex dump. So....."what happens when LTC halves"...the amount of coins you get for finding a block is half of what it was before. often whales pump coins when block rewards are high (because they are getting the bulk of supply) then after enough halvings the BTC it takes to hold up the market is not worth the amount of coins being spit out and a new bear cycle begins sometime after.

Crypto has no value to the average person because the average person is a fucking retard. I can save more money at purse.io with 50% discounts on average dept. store necessities than your average coupon cutter. I can gain more interest at WageCan than what any bank has given me in 10 years almost. A global new fintech industry "IPO" that anyone can be part of (most ppl can't be part of new stock IPO's) which also doubles as a currency that lets you spend your "stock" in any jurisdiction with internet access off the record (including behind the great firewall of China) is nothing to sneeze at.

And I'd argue that ALL markets are legally sanctioned "buy the dip" schemes. This isn't exclusive to crypto.

Also if Satoshi didn't sell a single coin at $1100, I don't think he is selling at the current levels either.

As for your other post, I don't care if people are posting shitcoin tips. People just need to be educated on the rules and patterns to watch for as that shit gets really hairy fast. These tiny markets are controlled and are designed to play as Ponzi's. As volatile as BTC and LTC is, they are still far less controlled due to their adoption and market caps. Dumping always spreads to more hands whereas prometheus/bob/adamG shitcoins are all lies with no future intentions. If they had more of a vision, they would stick with the early ones they already made instead of pooping a new one out every month.

BTW I mentioned prometheus' kid because I don't believe he is retarded at all. I believe he is just fine and was just used as a scapegoat to dump hard on his own group and disappear for a while. The patterns were completely obvious up until I stopped paying attention (which was HAL).

People can dump whenever they want. It is their coin. I just don't like pieces of shit that talk out the side of their mouths saying one thing but then do another.

That's a shame about DRK & bitfinex. Glad I waited to buy any.

"ALL coins are p&d's. If satoshi exited BTC would look like any other bittrex dump."

If a large holder did exit BTC. Wouldn't the supply be redistributed and normalized eventually anyway?

Absolutely!

 

[djthistle01]

"ALL coins are p&d's. If satoshi exited BTC would look like any other bittrex dump."

If a large holder did exit BTC. Wouldn't the supply be redistributed and normalized eventually anyway?

As I understand it a lot of this past bear market was because of redistribution. As many retailers took BTC as payment they also sold into the market. Also, as I understand it, even Overstock.com is not 100% holding it's BTC. As as bad as it sounds it is the concentration of BTC in few hands that can best present the chance for us to trade a real bull market. A lot of average people wanted to own or trade at $1000, $800, $600, 400 even. $300 was so-so. under 250 and my chat group is very quiet.

Redistribution from early adopters to Wall St. is ok. But Redistribution from early adopters to traders and retailers just creates a bear market. Like Wyckoff charts so brilliantly explain true "distribution" is the first step of a bear market. see chart here http://d.stockcharts.com/school/data/media/chart_school/market_analysis/wyckoff1/wy-01-accumdist.png

The interest of Wall St is a good thing. If they do back away from BTC and just want the blockchain then that does not bode well for the long term. Kind of like gold & silver for the past few years, there is literally no reason to buy & hold (just trade) when they have to consolidate to make up for a clear p&d.

 

[djthistle01]

This is great, if next time i don't know what to buy with my next paycheck, Cisco or bitcoin, I can do both thanks to 1Broker. muhroads have you been using it for a while now?

as muh_roads pointed out there is 20x leverage. But there is 200x on fx pairs. that is in&out 1min chart trades. wait for a nice set up and make it fast. I am a pretty good trader, by I get destroyed on 200x. keep in under 50 if not 10. again, shorter term trades. up to 10 or a super chart nerd might get away with a 20. 10-15 on indexes and stocks for day trading is pretty good. not as crazy of swings as fx. eg, I do well playing the DAX or S&P at 15-20x because it tends in a clear pattern. i can't stress enough how huge the fuckery is on fore pairs, especially NZD pairs. be careful.

 

[djthistle01]

@muh_roads....very true regarding satoshi. i doubt selling now, just making the point that if at anytime he/she/it empties out it's game over like poor ole' iBITS this week. what a p&d disaster. that guy has the most brutal dumps that make bobs look like childs play. then he just leaves the market for delisting. jerk.

as for his kid; it is a heart defect often found in downs kids, so think that is where the scare came from. but he does not have downs and a got the heart operations a couple months after birth. i know only because that was the same time we butted heads and he left the group.

DRK/DASH. what a pisser indeed. but bifinex is not the driving force behind it. way too much money behind it, shit launch premine or not. back when it was just over a $1 the group caught wind it was going close to 10. it made it a good ways on the last bull market

 

[Dianne]

For those with weak hands, I am still holding LTC . Should I bail and minimize losses asap, or keep holding? Just asking for recommendations. I only play with btc and ltc.

 

[Tycoon]

For those with weak hands, I am still holding LTC . Should I bail and minimize losses asap, or keep holding? Just asking for recommendations. I only play with btc and ltc.

I'm holding. but I'm irrelevant, cuz I have no clue about trading and actually, it seems like, I have problems with "letting it go" in general lol.

 

[Dianne]

I'm holding. but I'm irrelevant, cuz I have no clue about trading and actually, it seems like, I have problems with "letting it go" in general lol.

Well you and I are in the same boat then. I'm irrelevant as well, and holding just "cause". One of these days LTC will probably pump. So I think I will just sit, try to be patient and at least sell for a little profit. Patience is not my virtue, but this is BuddyRey's LTC so I'm hoping I can make him proud.

 

[djthistle01]

what do you all use for TA? i could modify one of my private lessons off the forum and dump it on here. but if everyone has their own style that is cool. but is sounds like maybe a few of you might. if anyone has anything in particular they want to see or have trouble grasping I'll make that the charts and or video.

 

[Tycoon]

what do you all use for TA? i could modify one of my private lessons off the forum and dump it on here. but if everyone has their own style that is cool. but is sounds like maybe a few of you might. if anyone has anything in particular they want to see or have trouble grasping I'll make that the charts and or video.

I don't use anything. I'm a newb, would love some vids about trading crypto in particular.

 

[bullhammer]

For those with weak hands, I am still holding LTC . Should I bail and minimize losses asap, or keep holding? Just asking for recommendations. I only play with btc and ltc.

I sold 1/2 my LTC position for USD couple days ago...... didn't want to but had to at least save a small profit , can always get back in. I think we may be in typical crypto pattern ( big spike followed by three humps to a low before resumption of trend). On daily chart of LTC we are at the end of second hump. I'm guessing we may end up somewhere @ low 3s to high 2s in a week or so.........but......with the chance we get a surprise pump, who knows......only the market knows! BTW I think the trend is up now......

 

[bullhammer]

what do you all use for TA? i could modify one of my private lessons off the forum and dump it on here. but if everyone has their own style that is cool. but is sounds like maybe a few of you might. if anyone has anything in particular they want to see or have trouble grasping I'll make that the charts and or video.

I would like to see your lesson on trading, I'm kinda self taught from internet and from gazing at charts for hours and hours cause I love the markets and how they work! Prob spent the most time watching the chart for spot price of Ag. I believe the physical market will disconnect from the paper market very soon, Actually it has already started!

 

[LibertyTeeth]

what do you all use for TA? i could modify one of my private lessons off the forum and dump it on here. but if everyone has their own style that is cool. but is sounds like maybe a few of you might. if anyone has anything in particular they want to see or have trouble grasping I'll make that the charts and or video.

I'd love to learn more. Have some experience in stocks but haven't really studied crypto; have followed litepresence's calls and made some, lost some; currently sitting in LTC as I fell asleep just as that huge drop was starting, and when I woke it was disaster. Like Diane, I find it hard to let go...

Thanks for anything you share!

 

[muh_roads]

The daily $20 moves might soon be returning.

 

[Dianne]

I'd love to learn more. Have some experience in stocks but haven't really studied crypto; have followed litepresence's calls and made some, lost some; currently sitting in LTC as I fell asleep just as that huge drop was starting, and when I woke it was disaster. Like Diane, I find it hard to let go...

Thanks for anything you share!

Those epic drops always take place when I'm asleep also !! I would also be interested in any info you can share, djthistle. My investing is similar to a "pin the tail on the donkey game".

 

[djthistle01]

eeeek, for sure I will do something up. what indicators do you use now or trends/ideas you want to learn how to spot. haha i came into charting via AG too, but so different now.

 

[kfarnan]

The daily $20 moves might soon be returning.

BTC , LTC or both?

 

[Dianne]

eeeek, for sure I will do something up. what indicators do you use now or trends/ideas you want to learn how to spot. haha i came into charting via AG too, but so different now.

This thread, lol. When they say buy, I buy. When they say sell, I sell. I wish we had a little group to exchange cell numbers, so in the middle of the night; someone can text me to sell !!

 

[dannno]

This thread, lol. When they say buy, I buy. When they say sell, I sell. I wish we had a little group to exchange cell numbers, so in the middle of the night; someone can text me to sell !!

You could always look into using trading bots on tradewave.

 

[Dianne]

You could always look into using trading bots on tradewave.

I'm not too crazy about using bots. Too much can go wrong for my liking ... probably mostly human error (mine). Is there some type of service or alerts you can get on a smartphone if the market starts going wild?