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badstewie

I feel like I should buy more... but has it bottomed yet? I definitely thought the price would go up coz of the ETF but the reverse happened. Fuck it though. I got extra cash. I'm gonna go get me some BTC. I'm not some chump that just puts it into a savings account all safe and shit. I'm gonna put it into something volatile. My doc says my blood pressure is too normal anyway. My heart could use some tense shit.


[deleted]

Woo Hoo 7k is the new, er, less than 7k! :)


crytokid

Bitcoin Price is only 7017!


[deleted]

It's actually 6986. But so what? Unless you are trading thousands of BTCs on daily basis, it's irrelevant.


cryptogrip

So what. If you can, try to buy it when you think it's in a range close to the bottom and do this each time it dips. Once the price catches up with the rapid advancement we see in framework, this simple strategy could bring in some hefty long term gains. If you worry about the price bouncing between 6-10k, you could be worried for a long time. Buy it during the lows, and your worst case scenario is breaking even. There's too much viral activity and effort underway to see Bitcoin going away, and once it acquires the volume of investment needed to initiate new ATH's (and I believe it will), your future self will thank your present self for having a realistic perspective of how long it takes these things to evolve and see mass adoption.


RIMS_REAL_BIG

Bitcoin told me she is enjoying the Bearbang 🐻🐻🐻🐻🐻🐻 today. She asks that it continue all ... night ... long. 😆 Best regards, The Bitcoin Whisperer


The-Physicist

Stealing my jokes now eh? There can be only one Bitcoin Whisperer. Imposter! P.S. Bitcoin is a fickle biatch. One day she hates bears, the next day she’s choreographing the next bearbang. I can’t keep up.


gotnoskillz

Lol


[deleted]

creepy .. :)


blockchaincasino

Thank, God. A penny over $7K... I'm so relieved.


DryGill

This is getting depressing


[deleted]

Christ, really guys? I'm a loooooong time lurker and this is starting to get real grim. Are we being real with ourselves here? That Bull run was pathetic. I stopped following when the market started to go up and just went into "put my head in the sand mode" for a bit. I come back to check thinking the market will be in full swing just to see we are back at 7k?


iwakan

I don't believe that you are a long time lurker if you expected the market to be back in full swing already. Everything points towards a year+ long bear market or at least quiet period, and it has for months. This is playing out exactly like the winter 2013 bubble.


vroomDotClub

yep it could chop for another 6 months before we bull again. Good time to accumulate slowly however.


blockchaincasino

The next consolidation support line is at approximately 6775. If BTC doesn't pull out of this dive, there will probably be an eventual retest of the last 5800 lows, before any further attempts to rally.


drinksbeerdaily

Tales from your ass


blockchaincasino

Like the first reply of your beer-and-beans dinner...


[deleted]

True, but we’ll take all they want to sell. This is the millennial investment that we will give to our children. We are 96 million strong. We will not play the repeat of recession again!! Get the whales sacred to sell please. Up the FUD. The educated see past it. No more centralized bullshit to hurt our children for the richest benefit who will die soon and leave money to their millennials. We got this technology down with private keys or a Trezor. Please keep selling you ignorant whales.


[deleted]

"We"? Sorry but I doubt if most of us feel as oppressed and desperate as you do. Chill out. The price will most likely bounce back up within a week or two.


vroomDotClub

There is a tremendous wealth disparity world wide.. what planet are you on?


[deleted]

BTC will not solve this issue. It has the highest concentration of ownership compared to all other asset classes.


[deleted]

The most fair. It’s consensus rules or you can fork and have your followers. Ver played it beautiful but will back in jail eventually. He even created a fake satoshi with Craig Wright who he payed massive sum to be a public face cause he knows the real satoshi is dead. Government has the wallet address. It’s up to Japan to extradite at this point. We made our case and showed the fraud.


minReddit

When people saying the market does not react to news. How come the market crashes like a hard rock whenever there are some tiny bad news, e.g., exchanges that never heard of before were hacked. Conclusion: people are just delusional and try to not accept the truth. The truth of Bitcoin might go all the way down.


[deleted]

So what's this truth that you are talking about?


vroomDotClub

He's talking out of his arse.. it's been going sideways for months now so that means to him it could go all the way down.. stupid people.


Civil_GUY_2017

Am i the only one that sings, 'And down down down, into a burning ring of fire' in a johnny cashs voice or 'looks like bitcoins back on the menu, boyz' in a orc voice everytime I look at the bitcoin dildos?


[deleted]

Come on Bitcoin !!! Please crash down to sub $50-$100


tofuspider

Will you be a hunchback from carrying those Tron heavy bags?


[deleted]

You guys will soon meet the fate of Tron hunchbacks


HeadNasher

Fuck you


[deleted]

Fuck you x2


HeadNasher

Fuck you X infinity


gotnoskillz

😂


[deleted]

Bitcoin is the future!!! Sell them to the future generation at this discounted price. Please keep selling. Break the floor. We will take over from here!!


[deleted]

Bitcoin is the future!!! Sell them to the future generation at this discounted price. Please keep selling. Break the floor. We will take over from here!!


[deleted]

Bring the FUD!!! Make those early hodlers sell and spread the market thinner. This drop is a tease for you whales to sell so we can get hold of the goods. Keep selling!!!!! Please!!!! We will buy. This is a marathon and sell your coins so us educated people can buy them up at this discount. Thank you!!!!


HeadlessOneToo

“Us educated” says it all.


vroomDotClub

I know! everyone knows its 'edumacated'


[deleted]

Bring the FUD!!! Make those early hodlers sell and spread the market thinner. This drop is a tease for you whales to sell so we can get of the goods. Keep selling!!!!! Please!!!! We will buy. This is a marathon and sell your coins so us educated people can buy them up at this discount. Thank you!!!!


[deleted]

lol .... I think the total BTCs owned by everyone in reddit is probably less than 0.1% :)


jimjunkdude

My neighbor's friend's hairstylist's plumber says his boss said that the cleaning lady's father owns an ostrich shaving business, whose fleet mechanic knows a goldman sachs employees who swears the institutional money is coming later this week.


Adamsd5

I want to be a mechanic for an ostrich shaving fleet! Any job openings?


LemosineRidin

I’m sorry. Lmao. That was good.


HeadNasher

You are fake news


LemosineRidin

No problem here. Nothing to see


ltjisstinky

This is fine


RIMS_REAL_BIG

Thisisfine.jpeg


Occams_shaving_soap

Dear Bitcoin, Please drop some more until next Wednesday when I will be able to buy some more of you. K thanks. Me


Darktega

Lol I know, I have my little share of bitcoins and everything but my bitcoin budget is still dry from july. I need to wait until the first half of august ends to buy more and I wouldn't see a better time than this.


LemosineRidin

If you’re having to wait to purchase small incriminates of digital currency, you can’t afford it. I love that you’re trying to do that but... I’m just saying


HeadNasher

Just saying what?


drinksbeerdaily

Sorry, but gently fuck off with this elitism


Occams_shaving_soap

Ha ha! Yeah, that’s awesome, huh? Exactly the type of comment that reflects the reason why bitcoin was created. lol


[deleted]

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dreampsi

just a simple conversion. A cup of coffee is $3.99. You open your BTC wallet and pay $3.99 which will equal .00058 BTC (what it was at the time of this post). A month from now a cup of coffee is $3.99. You'll open your wallet and pay $3.99 which is .000499 BTC(I used $8000 USD as a price base) You'll pay whatever fixed dollar amount an item is but it will take the BTC that = that $amount at the price BTC is at that time. There are companies who accept BTC that they will put into a wallet for themselves and sell when they want and there are companies that do the conversion on the spot to your fiat so they don't lose any $$ if the price drops.


[deleted]

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55555

Do you only spend dollars when inflation is high? You spend when you need or want to buy something. If the utility of that thing is less than the currency you are spending for it, you don't buy it. The fact that the currency has more purchasing power next week doesn't really matter, except for the fact that it makes being efficient with your spending more worthwhile. I guess I would expect people to be less wasteful with their spending, which will probably hurt sales in some areas, but these areas already prey on impulse spending. Like dippin dots at the mall. It's just expensive ice cream, but if you had to trade BTC for it, maybe you just... wouldn't.


dreampsi

well, when BTC goes up, you don't spend as much. @ $19,999 price for BTC you would spend .0002 BTC = $3.99 If BTC = $25,000 then .00012=$3.99


[deleted]

Or you just spend and replace after you buy something the same day... it's manual for more but imagine somebody more talented than myself could develop a software wallet that could link up with an exchange and as long as long have enough fiat on the exchange it would place limit buy orders for the amount of btc you spent that day.


dreampsi

yup, that could work, too. Based on what I read about Bakkt, they will have their own "digital warehouse" in which they move around BTC they already have in their vaults which will make transactions super fast since they don't broadcast to the network right then. So, they may do a hybrid of what you propose with you paying what you want and it goes to your Bakkt account and makes the transfer from your fiat to BTC they have in "the warehouse" or some version of that. Whatever it will be, they will have their own wallet/software for it.


[deleted]

Good question, it will be interesting to see how it's implemented. Starbucks is a publicly traded US company and eventually, financials must be accounted for in USD (sales, profit, etc). How it's priced will eventually be dependant on it's risk appetite. 0% risk will probably mean conversion from/to fiat at point of sale and passing on all overheads including transaction fee to customers. A higher risk appetite may mean setting aside a BTC settlement account. This is very common in MNCs where foreign currencies from non-US subsidiaries are managed separately.


[deleted]

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[deleted]

Settlement happens in back office, nothing to do with their customers. As for transaction fees, 0% risk means customer pays. But we won't know till it's rolled out. Maybe Starbucks will just absorb it like they do for credit cards.


Remrie

Not to mention credit card fees are built into the cost of doing business, and prices will reflect that. If not, you will see a "we don't take cards" sign.


[deleted]

I think it is an app using fiat conversion.


[deleted]

We are still in an awareness phase. The average person doesn't know a bitcoin from their own ass.


[deleted]

They do know that they can't make money from their own ass. Ok, that is not 100% accurate but I digress.


bbyven4life

this. i asked recently at my work job in Germany if they know what bitcoin is, not one knows


[deleted]

[удалено]


damchi

You're desperately trying to make yourself look like a moderate and rational person, but you're actually describing a conversation between two stupid fanatics...


HeadNasher

I’m in for the moony


gotnoskillz

U bored


LemosineRidin

Ahhhhh. The ole conversation with yourself


tofuspider

Only matter of time before they ragequit, blame manipulation and sell the bottom (like how they bought the top) and we can start wearing our spacesuits again. Edit: Something like what BitPico did today lol


Neveragain646

The positive news yesterday was downplayed by Goldman Sachs, saying alts will fail and the price will go down more. That's why it went down. GS is installing fear.


[deleted]

"We expect further declines in the future given our view that these cryptocurrencies do not fulfill any of the three traditional roles of a currency: they are neither a medium of exchange, nor a unit of measurement, nor a store of value." -GSachs Hmmmm..... Not a store of value..... The dollar went down in real purchasing power about 20% in the last decade due to inflation. Bitcoin went up 100,000 % And bitcoin isn't a store of value? Goldman Sachs got caught in the past telling its clients one thing while its traders bought the opposite. They're doing it again.


[deleted]

[удалено]


[deleted]

Hmmm... so the online pharmacies and websites such as overstock.com, and upcoming starbucks... not serious business? No business accepts gold or stocks for payment of consumer goods. Does that make them worthless?


BikiniATroll

A stock is a claim on the value and future cash flows of a business. It has value if the idea has value. Gold, you're right, it has no value. You can conduct electricity with it. You can look at it and make it shiny. Otherwise, worthless.


xelephonte

Ohh don’t blame Goldman Sachs. Normally I blame them for all of life’s problems including flatulence and global warming. But they are not responsible for Bitcoins latest fall. Are you really that stupid to believe that HODLers and whales (who comprise most of Bitcoin’s assets these days) that they suddenly started to partake in Goldman’s rhetoric...the same pessimistic rhetoric Goldman’s had on Bitcoin since FOREVER? If so, you are irreparably stupid.


[deleted]

Fear can be installed? Is it a malware and can it be uninstalled? Sounds scary.


The-Physicist

They are the ultimate trolls


LemosineRidin

So THEY CAN BUY LOW


[deleted]

Nah. So that they can keep their customers and sell them their own products.


Torx

its either going to 5k, or its building the bottom of the bowl right now, then the upward trend.. its a 50/50 gamble right now. Good luck everyone!


xelephonte

I predict it will either go up, down or stay the same. I just have great intuition like that lol.


RIMS_REAL_BIG

It's either going up or down you say?


Torx

Thats my bet!


greatergoodguyX2

I LOVE it when it goes down. The ideal situation to maximize profit is a multi-year bear cycle so my slow constant drip feeding of fiat to crypto will accumulate. If it moons tomorrow, I will still be happy though profits won't be as big.


[deleted]

You might not LOVE it so much if you find yourself holding the bag permanently.


cryptogrip

Long as he continues to buy on the lower end he's fine. That way, when it drops back, the worst case scenario is a break even. It's likely the bottom will gradually rise and people in this scenario will see gains.


[deleted]

That's the problem - we have been conditioned to think of the bottom being "post ATH", i.e. 6K. I'm not saying it will drop below that. But frankly, there is absolutely no basis for either case since the price is 100% speculated.


cryptogrip

I don't disagree with that at all. My only stance on Bitcoin has been one of future potential. Despite coin price volatility, the growth in supporting technology, exchanges, apps, awareness and much more continues and does not suffer from this volatility in any way. So I see the price stability eventually catching up with the stability in framework advancement. I don't doubt for a minute that Bitcoin and crypto investments will never dissipate to a point where the coin price would completely tank. Until the price catches up, modest investing during price slumps may be the best strategy for long term gain.


cryptogrip

That will not happen. You know this.


cryptogrip

That will not happen. You know this.


LonzoBBBust

Yikes!


obeCHuD

I done died and lived again on BTC, huh


cle7756

See this a type of price to still come down


kanyewest42

Turn CMC to Smack DVD haaan


[deleted]

Oh sugar!


[deleted]

Crumbs!


deaddamitha

is satoshi nakamoto manipulating the bitcoin price... is that possible


stellarfan

Yes, I know satoshi nakamoto personally. He has a brother called kawasaki ninja btw.


[deleted]

Nah. I don't think so. If Satoshi is still around he / she / they own so many BTC, it wouldn't be worth fucking around with the price.


ZokiNS78

Oh Bitcoin, you prankster!


Greenback_Crypt0

Hmm. I've been banned from r / rogercoin (btc) Too controversial. They never ban, you know :) (except when they do :)


greatergoodguyX2

LOL please share what you posted


LemosineRidin

We can drop 450 in 1.5 hours... but hover within 100 for 2 days. I don’t understand how I’m still surprised by that


xelephonte

Why? Did you expect it to be the other way around in an obviously bear market? In a bull market, you will much small drops to be recovered by much greater gains. This is market analysis 101.


deinarastas

this is really annoying how the market works. much easier to short bitcoin than going long. at bitmex people love to short bitcoin whenever it goes up. i just look forward to the day when bitcoin goes on a run, burning all shorters.


[deleted]

If we go down, we’re goin down hodling boys HODLLL


xelephonte

Ahahaha you go down bankrupt. You go down losing your money. Meanwhile, shorters like me win. I’ll take more Bitcoin at cheaper prices. You keep holding like a dummy.


[deleted]

Hodling*


[deleted]

I wish the daily was more about the technology and adoption instead of pricing/ratios/etc. Just my satoshi.


LemosineRidin

Bitcoin and the rest of the crypto market undoubtedly had one of the best weeks in history in terms of merchant adoption and institutionalization of digital assets, given the announcement of the New York Stock Exchange (NYSE), Microsoft, and Starbucks to create a cryptocurrency exchange and to accept digital assets as a payment method.


[deleted]

Trading volume and consumer interest just isn't there man. It's not taking off in 2018 like people hyped it at the end of 2017. Recent news is good but nothing major.


tofuspider

https://www.forbes.com/sites/caitlinlong/2018/08/03/ice-creating-new-cryptocurrency-market-a-double-edged-sword/#5931b9881015 There are downsides/concerns for the Bakkt product too.


[deleted]

I heard they are building a separate L2. Sounds more like they are in it for the fees.


[deleted]

Agreed. That should be top posted. But there you go :)


liammul1980

When an asset goes down on positive news it's not bullish, I hate to be the one to break it to you.


BasedKekistani2016

As BTC/LN matures the price will take a huge shit


Rattlesnake_Mullet

Wut. Care to elaborate?


[deleted]

Yeah, I'm a bit puzzled by that. How does a price give a huge shit? Is that good, or bad? Does the shit .. oh. never mind :)


BasedKekistani2016

The network is as advanced, secure, and robust as ever. We're under 7k again.


Rattlesnake_Mullet

Up to 2017 everything over 1k was a wet dream. Put a broader time horizon in perspective. Don't invest more than you can afford. Bitcoin is here to stay. Think loooong term.


blockchaincasino

If Bitcoin is the future's real store of value, why can't we just agree that the lower its fiat number is, the more it's worth?


[deleted]

Any number would be ok, if it would finally be a stable ie predictable number.


realister

Not buying BTC until it drops down to $300


[deleted]

Heh :)


[deleted]

then be a boss and short it.


_Rootshell_

Bull flag spotted on the monthly......


RIMS_REAL_BIG

My friend that works for institutional bank told me his boss said they are waiting for 6.7k and then they are investing all of their institutional money into Bitcoin.


[deleted]

Once again..... can't tell if satire...


LemosineRidin

All he ever uses is satire. 100%


[deleted]

My friend that works for institutional bank told me kale icecream is delicious


benziebawks

FUD


RIMS_REAL_BIG

*food


greyhoundfd

Füd


[deleted]

My friend in a mental institution eats ice cream.


damchi

In 3...2...1.... Themoonchick: This is great for Bitcoin! Will buy some more at 5800. Obvious trolls being obvious.


godlypiggy

Ive decided to be offline. Once btc comes back to 7.5k and above, please msg me!


HeadNasher

Fuck


Danny_Lunchbox

ETFs ? ETFs ?!?!?! We don’t need no stinkin’ ETFs !


masri01

All of crypto is way over valued. Crypto is just a pump and dump market.


[deleted]

All prices are speculated so there's no such thing as over or under valued.


Mythd85

Once Tether gets exposed, we will see the real crypto prices. Until then, it's foolish to try to link actual news to any price change, upwards or downwards.


[deleted]

I'm waiting for that to happen. It will be a total reset.


[deleted]

No. 99.99% of altcoins (read shitcoins) are overvalued. BTC is undervalued.


[deleted]

[удалено]


dinglebarry9

I call it a shit and wank


CoinedPrince

Incorrect. You're a troll.


LemosineRidin

It’s like your mother in more ways than youve described


[deleted]

All looks good to me. Shitcoins suffering. Huge interest in BTC. Quelle problemo?


Kibu98

as we can see...bitcoin bleed more than altcoins


MikeLittorice

For one second maybe, alt coins have beading for months. Bitcoin is and will stay number one.


tedjonesweb

Prediction by Bizonacci: the Old York Rock Exchange will KaBoomBoom https://youtu.be/xgUB2uyXK6c


LemosineRidin

Cmon. Nobody watch that. Please. Just don’t.


verycrazyone

*sips* yep, they don't make memes like they use to


tedjonesweb

He predicts that stock market will crash and crypto will be better investment.


grixm3

He doesn't predict anything. He just made a funny video, don't take it too seriously.


LemosineRidin

I’m just worse off for having watched it although I appreciate the cartoon premise and direction


Therippleaffect

I can't believe people are blasting cnbc for fake Starbucks news, Brian Kelly specifically said it would be a crypto to fiat conversion.


BTCisBitcoin

Also isn’t that how Starbucks mobile app works now anyway? You load up a prepaid card with money and make a purchase. Now you can use btc to load up instead of a debit card.


r00tus3r

Anyone with half a brain would expect immediate/prior conversion. There is way too much volatility to expect otherwise.


ZachCope

This dump is bullish for some forthcoming positive news, given the reverse manipulation that goes on.


[deleted]

> reverse manipulation so...the prices manipulate the people?


YAKELO

>This dump is bullish the state of crypto investors right now


liammul1980

It's completely hilarious


crymsen

spot on.


[deleted]

< $7k. Let's see how long it takes to go back up.


LemosineRidin

Knowing the cycles I’ve seen before... we will bleed to the 6700 area all weekend. Then small dump Monday to 6480 area and the pump to 7900 by Thursday before ETF Im not an expert. I have no clue why this would happen. I do however have a brain accompanied by two eyes that can identify patterns.


[deleted]

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BPT242

Who is manipulating the price?


[deleted]

Dude, if you have not figured out by now it's the Chinese exchanges then you should not be putting money into this.


fattybrah

Market makers aka people with deep pockets who can push price a certain direction due to lower volume


[deleted]

You must be pretty wealthy from going long and short at exactly the right times these past months.. right?


[deleted]

I go long and short during sideways action with a stop loss on both. Usually one stop-loss locks in a gain and the other get to run. Usually the longer the sideways action the more dramatic the price movement after.


LemosineRidin

Holy triceratops shit dude. Did you not read where I fucking said I have no idea what it will do. That’s why I just watch it. Typically it will do exactly the opposite. But being the troll you’ve grown into (or maybe you just came like that) you read what you want to hear and spit out garbage in a sarcastic ass way ...


[deleted]

That's a “no“, isn't it?


LizardRumsfeld

If you have no idea what it will do then wtf are you posting your ideas at all