The Litepresence Report on Cryptocurrency

[presence]

And by "again", I assume you mean "before the looming 40% decline".

yes... of course we'll see $1000 at some point... but 40% down from here... I'm not as confident in further continuation of our bull run. I'm in fiat. The rise was too much too fast... and the lack of the pop in LTC? that was davidpate liquidating.

He's 80k ppc deep now and the rest in fiat. $3m usd of marketshare @ btce


BTC up 7.5% on the day. LTC up 8.5%.


Bear market down is my estimation.


I'm sleeping in fiat.

 

[presence]

davidpate buying into PPC

BTC post consolidation gaining 7.5% then Bear

LTC post consolidation gaining 8.5% then Bear




BTC was right within the realm of expectations, I was silently hoping for a multiplier effect by holding LTC... but by the time I realized davidpate had moved his cards... I was stuck holding a 5% gain on the day.


bummer?


Absolutely crazy 24 hour gain in PPC tho as davidpate shifted his holdings.

 

[lotsOfCake]

huobi btccny and mtgox usd are diverging !?

 

[muh_roads]

yes... of course we'll see $1000 at some point... but 40% down from here... I'm not as confident in further continuation of our bull run. I'm in fiat. The rise was too much too fast... and the lack of the pop in LTC? that was davidpate liquidating.

He's 80k ppc deep now and the rest in fiat. $3m usd of marketshare @ btce


BTC up 7.5% on the day. LTC up 8.5%.


Bear market down is my estimation.


I'm sleeping in fiat.

I'm using BTC from a small purchase (relative to net) that got stuck at 960. Since I don't think it will come back for a while, I decided to just use this as my play money in alts. I can't complain. Made my first successful swing trade gain in NMC. This is all, more or less a learning exercise for me. Day-trading crypto is like training wheels if you aren't worried about the price because you believe it to come back.

davidpate buying into PPC

Who?

 

[presence]

Who?

davidpate is a btce trader with a very large bankroll ($3m USD?) perhaps the largest bankroll @ btce. Same class of money as fontas; I'm not sure who has more.


davidpate had always held predominately LTC, BTC, and cash until today. He shifted at least $1m usd into PPC in about 8 hours.

 

[muh_roads]

davidpate is a btce trader with a very large bankroll... perhaps the largest bankroll. Same class of money as fontas; I'm not sure who has more.


davidpate had always held predominately LTC, BTC, and cash until today. He shifted at least $1m usd into PPC in about 8 hours.

Did he declare he would do this before buying? I guess I should pay attention to the trollbox more.

 

[lotsOfCake]

pumpers do not declare anything before buying.
One of the methods are:
Buy slowly while its low, then add huge buy order just under the current price, set a top target, and sell off what you bought at the top. With enough capital, you can define where the top is by pulling your buy support when you're done. You can rinse-and-repeat by buying at the bottom of the trap you just made.

I don't think davidpate is doing this. I think he is just being rational and selling off when he thinks it will be a bear market.

Edit: also, you need insane capital to pull that off with LTC, its market cap being in the hundreds of millions (probably less in reality if you were to sell a large amount in one go, but still, a lot!)

Edit2: they announce around the same time that they add a "support" buy wall under the current price, after having bought in.

 

[muh_roads]

https://vircurex.com/welcome/index?alt=nmc&base=btc&locale=en

[h=4]Earn interest on BTC, LTC and PPC account balances[/h]

 

[muh_roads]

presence, thoughts on Unobtanium? 250K supply cap. Could it possibly reach BTC parity before collapsing?

 

[Dianne]

https://vircurex.com/welcome/index?alt=nmc&base=btc&locale=en

I've never opened an account at vircurex. Do you remember them for USA customers? Or is coinbase still the easiest way to get fiat dollars into crypto?

 

[fatjohn]

no... I don't expect a new low; this last bounce was not "dead cat" IMHO


Are you lead dev for Mastercoin? or just same avatar?

Hah, I assume someone else uses the same monkey on another forum. No I have nothing to do with mastercoin.

I used the monkey before it was cool though.

 

[PaulConventionWV]

yes... of course we'll see $1000 at some point... but 40% down from here... I'm not as confident in further continuation of our bull run. I'm in fiat. The rise was too much too fast... and the lack of the pop in LTC? that was davidpate liquidating.

He's 80k ppc deep now and the rest in fiat. $3m usd of marketshare @ btce


BTC up 7.5% on the day. LTC up 8.5%.


Bear market down is my estimation.


I'm sleeping in fiat.

I hope it stays up until about 6pm tonight. That's when I get back into my coinbase account.

 

[PaulConventionWV]

Do you see any major bear movements soon or is it all supposed to be slow and gradual? I want to sell at around 800 if I can.

 

[presence]

Do you see any major bear movements soon or is it all supposed to be slow and gradual? I want to sell at around 800 if I can.

The correction of yesterday's final bull run was fierce... As fast as it went up, it came back down. From here forward I expect slow capitulation over the coming month. 3% daily loss.

btce 787 last. I don't expect to see 800 again.

Be thankful you were in BTC and not LTC... LTC has already corrected below pre bull run consolidation point.

btce 5m =

"Descending Scallops"



Next touchdown near 770-765

might bounce back up near 785 level


best of luck



if it makes you feel any better... my internet got knocked out while making a short play during a bull trap in the PPC decline last night. I had to sell for a loss when I came back online... good thing tho... I lost 2% on bank... had I not got back online I'd be down over 6% now.

PPCusd down to $6.5 last

 

[presence]

I want to sell at around 800 if I can.

oooh... I'm catching a scent of "head and shoulders" forming a fat right shoulder... you might get your 800 after all. Don't be hasty in your dump.

 

[PaulConventionWV]

The correction of yesterday's final bull run was fierce... As fast as it went up, it came back down. From here forward I expect slow capitulation over the coming month. 3% daily loss.

btce 787 last. I don't expect to see 800 again.

Be thankful you were in BTC and not LTC... LTC has already corrected below pre bull run consolidation point.

btce 5m =

"Descending Scallops"



Next touchdown near 770-765

might bounce back up near 785 level


best of luck



if it makes you feel any better... my internet got knocked out while making a short play during a bull trap in the PPC decline last night. I had to sell for a loss when I came back online... good thing tho... I lost 2% on bank... had I not got back online I'd be down over 6% now.

PPCusd down to $6.5 last

Yeah, I really made out on LTC considering these prices. Ended up with over half a BTC more than I started with. I just got my account back, so it looks like I'm going to end up with a pretty good gain after all. Sending the BTC right now and going to sleep in fiat.

EDIT: Just sold.

 

[presence]

Paul I hope you get access to your coins soon... window of opportunity knocks

796

 

[PaulConventionWV]

Paul I hope you get access to your coins soon... window of opportunity knocks

796

I just got out. Thanks, presence. I couldn't have done it without your advice.

 

[presence]

I just got out. Thanks, presence. I couldn't have done it without your advice.

Don't get caught in indecision or a bull trap... even if price seems to want to move up... rest assured a 3 or 4% gain is not worth the coming capitulation.

If you zoom in on that yellow dot

we could get a thin wick of bullishness today or tormorrow...

I'm not messing with it. Best profit on expected historical green candles... not speculation on thin wicks


Much bigger gains to be had by being patient; 30 days from now will be a different ball game.


Best move, walk away... come back in a week

 

[Dianne]

Don't get caught in indecision or a bull trap... even if price seems to want to move up... rest assured a 3 or 4% gain is not worth the coming capitulation.

If you zoom in on that yellow dot

http://i42.tinypic.com/29da9ur.png

we could get a thin wick of bullishness today or tormorrow...

I'm not messing with it.


Much bigger gains to be had by being patient; 30 days from now will be a different ball game.


Best move, walk away... come back in a week

litepresence, you remind me of the nightly weatherman... You keep all your options open.. Possibility of rain, possibility it might not ... 50/50 chance ... we may see a few snow flurries, but we may not. Tune in tomorrow for the most current forecast... 50/50 chance, we may see rain but may not; we may see snow flurries, but we may not.