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Merged Bitcoin - Part 3

ponderingturtle said:
Ah but if you have them running a generator that charges a battery that then drives the car you can only operate them in high efficiency zones, thus improving efficiency. And just made a form of hybrid car instead of a turbine powered car.
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Why not take it a step further and run a big turbine from a central location so you can run a steam turbine with the heat recovered from the first turbine. Then just ditch the turbine in the in car and put in a bigger battery.


I bet you could get higher efficiency with this configuration. Maybe not running it with coal dust though.
 
Samson said:
Will we see carnage in the bitcoin market next week? Curious what others think, but the daily chart is in a vicious and dense trend.
If it loses the characteristic 80 to 90% in value, that takes us to 6 to 12k in value.
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Most top technical traders have just under 20k as their low point correction figure .
The longer term future is judged bright but major corrections at the 70%+ level are quite usual for BTC .
When the stock market tanks later in the year with a forecast 20% correction panic will ride high for a short time.
Which is why people like the universally respected Chris Vermeulen are already 100% cash .
 
lomiller said:
Why not take it a step further and run a big turbine from a central location so you can run a steam turbine with the heat recovered from the first turbine. Then just ditch the turbine in the in car and put in a bigger battery.


I bet you could get higher efficiency with this configuration. Maybe not running it with coal dust though.
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Genius!
 
Monica 56 said:
Most top technical traders have just under 20k as their low point correction figure .
The longer term future is judged bright but major corrections at the 70%+ level are quite usual for BTC .
When the stock market tanks later in the year with a forecast 20% correction panic will ride high for a short time.
Which is why people like the universally respected Chris Vermeulen are already 100% cash .
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Any break now of 30k completes a powerful 5 wave move (elliot if you like)
This would be a new trend that could last for a decade.
 
Monica 56 said:
Most top technical traders have just under 20k as their low point correction figure .
The longer term future is judged bright but major corrections at the 70%+ level are quite usual for BTC .
When the stock market tanks later in the year with a forecast 20% correction panic will ride high for a short time..
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People have confidently predicted 35 out of the last 10 market corrections ;)

Monica 56 said:
Which is why people like the universally respected Chris Vermeulen are already 100% cash .
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Who ?

Not only is he not universally respected, he doesn't even seem to be reasonably well known

Anyone who attempts to time the market by cashing out now in the expectation of timing their buy back is IMO a speculator rather than an investor. Mrs Don and I were reviewing our investments recently and guess what - those investments where we have invested continually over the last 25-30 years riding out the short term market fluctuations/corrections have provided a decent return.

We have proportionately far too much much cash for people of our age but we still only have about 30% of our net worth in cash or cash-based savings vehicles.
 
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The Don said:
Mrs Don and I were reviewing our investments recently and guess what - those investments where we have invested continually over the last 25-30 years riding out the short term market fluctuations/corrections have provided a decent return.
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Dollar cost averaging has a lot going for it.

I had a similar situation last year when my index fund investments went south. It was tempting to panic and cash out but I would only have locked in my losses. Fortunately, my decision to stay the course seems to be the correct one (so far).
 
As a technical analyst I see a catastrophe for cryptocurrencies.
5 waves down.
I would prefer Coca cola and the toothless smile for a worthy brand.
 
This article suggests that bitcoin mining is between a rock and a hard place.

Bitcoin uses a lot of electricity. So do electric cars, space travel and civilization in general, but few things burn energy so shamelessly. To assuage critics, Elon Musk and Michael Saylor announced late last month that Bitcoin miners in North America had agreed to form the Bitcoin Mining Council, an organization that would promote energy transparency and sustainable mining practices. A noble effort, to be sure, but one that drew much criticism. Participants in a decentralized currency tend to be sceptical of efforts at cooperation, which is just a politically correct term for collusion. To them, a Bitcoin mining council sounds a lot like OPEC or, worse, the Federal Reserve.
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https://www.livemint.com/opinion/co...in-where-it-dreaded-to-go-11623000146497.html
 
Samson said:
Any break now of 30k completes a powerful 5 wave move (elliot if you like)
This would be a new trend that could last for a decade.
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Unconvinced by your last word .
I read all the top commentators from the big three -- Asia , London and North America -- but have never yet run across that type of forecast .
From a base time line of little over a decade , what makes you imagine that any major correction --- say ,to under 20k --- will then last that long ?

It is hard enough to find an accurate three day weather forecast in choppy , changeable weather , but your crystal ball is in a different league if only part correct .
 
The Don said:
-------------Who ?Not only is he not universally respected, he doesn't even seem to be reasonably well known
Anyone who attempts to time the market by cashing out now in the expectation of timing their buy back is IMO a speculator rather than an investor.-----------
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You would benefit from a few quick courses helping you to understand the difference between a Speculator and a successful Trader .
An understanding of technical matters and trading Options would then delight and absorb you .
As for Chris being a stranger to you .
Oh dear .
Get yourself a decent Search function and bring heaven down to earth .
 
Monica 56 said:
Unconvinced by your last word .
I read all the top commentators from the big three -- Asia , London and North America -- but have never yet run across that type of forecast .
From a base time line of little over a decade , what makes you imagine that any major correction --- say ,to under 20k --- will then last that long ?

It is hard enough to find an accurate three day weather forecast in choppy , changeable weather , but your crystal ball is in a different league if only part correct .
Click to expand...
A decade is a handy thing to grasp and reflect on.
 
The Don said:
yt;dw

You claim he's "universally respected", are you going to support that claim ?
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Here's a guy who is known world wide as the founder of the most savvy and successful technical trading company and some anonymous virtual world beginner asks me to speak on his behalf .
Just use your Search Engine and stop pretending to knowledge you most certainly do not have .
 
Monica 56 said:
Here's a guy who is known world wide as the founder of the most savvy and successful technical trading company and some anonymous virtual world beginner asks me to speak on his behalf .
Just use your Search Engine and stop pretending to knowledge you most certainly do not have .
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I did use my search engine which is why I was asking the question.

He seems to be an internet self-publicist who runs a small technical trading company - which hardly qualifies as universally respected in my book.

Truly world renowned figures have the ears of Presidents and Prime Ministers and get to make keynote speeches at gatherings like Davos. Chris Vermulen seems to be another of those "bugs" like Schiff who pop up from time to time.

To paraphrase a sledge from James Ormond, not only is he not universally respected, he may not even be the most respected Chris Vermeulen.
 
Meanwhile the periodic table is stable with additions hard to add.

Cryptos not so difficult.
 
Donald Trump calls Bitcoin 'a scam against the dollar'

Former US President Donald Trump has told Fox Business that he sees Bitcoin as a "scam" affecting the value of the US dollar.

"Bitcoin, it just seems like a scam," Mr Trump said. "I don't like it because it's another currency competing against the dollar."

He added that he wanted the dollar to be "the currency of the world".

His comments come on the back of news El Salvador plans to make the crypto-currency legal tender.

The price of Bitcoin has been falling steadily since early May and so far has not recovered.
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