The Litepresence Report on Cryptocurrency

PaulConventionWV said:
I'm sorry to hear that. As far as I can tell, your complaint against 4xForecaster seems to be that he's not precise enough in his predictions, even though they tend to get the general direction right. Sorry, but from what I can tell, he seems to be one of the best on the market. I don't trade often enough for his imprecision to be a problem anyway. Also, keep in mind that a target being hit doesn't mean he's expecting the market to reverse at that point.

You also threw in a quick jab at me for not telling you about my exit. Sorry, but I don't get paid for this, so there's really no incentive for me to give regular updates. I do this for myself now and come here when I feel like it.
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Just curious but how is life in China and your job there? Sounds fascinating plus your trading on the side.
 
PaulConventionWV said:
I'm sorry to hear that. As far as I can tell, your complaint against 4xForecaster seems to be that he's not precise enough in his predictions, even though they tend to get the general direction right. Sorry, but from what I can tell, he seems to be one of the best on the market. I don't trade often enough for his imprecision to be a problem anyway. Also, keep in mind that a target being hit doesn't mean he's expecting the market to reverse at that point.
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I can't knock his experience. It just seems weird to make up new 5, 5', 5" with unknown geo that deviates from the elliot rules. He might've explained that somewhere that I missed. My bigger complaint is that he doesn't seem to factor in news. The Greece PR effect just seemed absent in his thought process.

You also threw in a quick jab at me for not telling you about my exit. Sorry, but I don't get paid for this, so there's really no incentive for me to give regular updates. I do this for myself now and come here when I feel like it.
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Yeah that didn't mean to come out that way. Getting away and trading less does sound more enjoyable.
 
FSP-Rebel said:
Just curious but how is life in China and your job there? Sounds fascinating plus your trading on the side.
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Yes, it's great. I had meant to start a blog and possibly a vlog, but I haven't gotten around to it yet. Things have been really exciting and I've been really busy, but I feel like I'm getting the hang of life out here, and I'm also thrilled that my trading has been going so well lately because it is supplementing my income rather nicely. I'm in a profitable short as we speak. Perhaps soon I'll start a thread about it and try to get that blog running.
 
muh_roads said:
I can't knock his experience. It just seems weird to make up new 5, 5', 5" with unknown geo that deviates from the elliot rules. He might've explained that somewhere that I missed. My bigger complaint is that he doesn't seem to factor in news. The Greece PR effect just seemed absent in his thought process.



Yeah that didn't mean to come out that way. Getting away and trading less does sound more enjoyable.
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No sweat. Trading is going really well for me because I learned how to be patient and wait for the big moves with well-defined stops and risk/reward ratios that help me to keep a cool head. The plan for me right now is to short until we hit support somewhere in the mid $100s then possibly short again to 4xForecaster's target of $58. If it gets to that level, then I'm definitely backing up the truck to go long.
 
looks like my call for low 3s and high 2s turned out to be hit after all , should have stuck with my original plan,
went on holidays for a week and ..........
 
I'm really thinking I should just spend my BTC before they are worth $10. I have less than $30 usd worth. I just use it as play money, but honestly this is silly :P
 
Warrior_of_Freedom said:
I'm really thinking I should just spend my BTC before they are worth $10. I have less than $30 usd worth. I just use it as play money, but honestly this is silly :P
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At these rates, I'd be concerned with having enough cash on the side to buy much more coinage than you already have. The sellers here are wanting to buy back in at lower rates since the market is talking lower prices and thus getting more coins for their stash. I'd keep your .1 or so and try to get a lot more imminently at these prices cuz this is a phenomenal opportunity if you know anything about Bitcoin. Your choice.

When fear is rampant, buy! When greed is rampant, sell! ~ Buffett
 
It's taking a lot of self control not to buy LTC at the moment but I'm not feeling very comfortable about this market right now.
 
I expect the market will sort itself out once the XT uncertainty gets settled. People are very concerned about the fork. Question is, will XT win and how much lower will the market go before it's resolved? IMO, XT is the right way to go, hope the miners agree.
 
 
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Crashland said:
I expect the market will sort itself out once the XT uncertainty gets settled. People are very concerned about the fork. Question is, will XT win and how much lower will the market go before it's resolved? IMO, XT is the right way to go, hope the miners agree.
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The thing is, the XT fork will make it almost impossible for the "little guy" to compute the larger blocks, thus the market will be more centralized, corporate takeover!
 
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BIP100 is being discussed as an alternative to XT. It increases the block limit by miner vote (32mb max) starting in January 2016 and requires 90% consensus. A much, much better solution imo.

https://www.reddit.com/r/Bitcoin/co...0_since_they_arent/?ref=share&ref_source=link

I started building a long position last night after watching the market drift up. Bullwhale got over 3000 coins filled from last of the panic sellers and aggressive bears taking out shorts--seems he is happy to average his way back up.
 
bullhammer said:
The thing is, the XT fork will make it almost impossible for the "little guy" to compute the larger blocks, thus the market will be more centralized, corporate takeover!
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The little guy already can't mine much of anything. I don't think the current Bitcoin is any more impervious to that problem than XT is.
 
amonasro said:
BIP100 is being discussed as an alternative to XT. It increases the block limit by miner vote (32mb max) starting in January 2016 and requires 90% consensus. A much, much better solution imo.

https://www.reddit.com/r/Bitcoin/co...0_since_they_arent/?ref=share&ref_source=link
Click to expand...

25% of miners are publicly backing it which is way more support than XT that mostly consists of nodes. Garzik has decided to start working on it now.

https://www.reddit.com/r/Bitcoin/comments/3i9qdj/25_of_hashing_power_is_now_publicly_backing_bip100/
 
bullhammer said:
The thing is, the XT fork will make it almost impossible for the "little guy" to compute the larger blocks, thus the market will be more centralized, corporate takeover!
Click to expand...

A kid in Kenya hasn't needed to download the blockchain for a very long time to use his wallet.

The people who can afford the biggest shovels were always predicted to be the ones who can continue to mine. Just like strip-mining entire areas for a few ounces of gold versus the California gold rush where you could trip over chunks.

21 inc and their partners might bring bitcoin back to its original vision of making the block reward feel more like a lottery by putting low power miner chips in most consumer devices for widespread decentralization. Pools should always exist tho.
 
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