Member Info for Bitcoinbull

If I’m honest Addi I’m not entirely sure of the point you are making but I take it in good spirits because you added a smile so clearly no malice intended.

off the top of my head I can think of two Bitcoin hard fork coins that have crashed and are either on their last legs or the project is dead , Bitcoin Dimond and Bitcoin Xt , so just because it’s a fork from Bitcoin doesn’t necessarily mean it will be successful, we also have to be mindful that that not all forks from Bitcoin use the SHA 256 algorithm so additional work maybe required for QBT to gain a significant advantage in mining speed and efficiency.
My understanding of ordinals ( and tbh I don’t fully understand them yet ) numbers each satoshi individually so in theory gives 100m x 21m potential ordinals , it would appear this is an unforeseen consequence of the Taproot hardfork which some of the BTC core development team are pushing back on quiet hard , potentially creating another forking war , it seems it’s very much the OG’s against the young Turks , having looked into it a little I see very few positives ( other than miners getting more rewards) and several quite worrying potential negatives .

SEC chair Gensler confirms “everything other than Bitcoin” is a security:

With this news breaking QBT would be very well advised to stick to Bitcoin mining, it’s very clear the only a tiny tiny number of the roughly 22700 alt coins will survive the SEC clamp down .
In my humble opinion this really forces any serious miner / developers towards Bitcoin at least in the short to medium term as it’s likely to be the only crypto that ppl of the USA and Europe can invest in legitimately and put in pension plans / savings scheme that are regulated.

I’ve long said I think the BTC winter will end in April /May , we’ve had a little run already and a nice retest of the $22400 level , the interesting development is Hong Kong and it’s plans to be a crypto hub from June , this could and should be a nice springboard for BTC , FG really needs his ducks lined up to take full advantage of the potential move . Time for action after 18months Of promises .

Ordinals From what I read on here several regular posters contact the company/FG from time to time , I just wondered if anyone has mentioned ORDINALS and there potential to generate an extra revenue stream for BTC miners? It would be interesting to see how QBT are positioned as it would appear Ordinals are one of the first really big second layers on Bitcoin . I know at least 3 of the miners have teams working on projects associated with NFT’S and Tokenisation just interested to see if QBT were going down a similar route having declared interest in mining coins other than Bitcoin.

Bought 200k shares @1.22p on Thursday having had.TM1on the watch list for the past 6 months or so , I’d placed an order for 250k but couldn’t Get it filled @ the them market price of 1.19p so had to scale back a little.
Bought in mainly because I know someone working at the Tipton site who’s pretty clued up , I’ll probably look at the situation once the license is granted, but safe to say I’ll look to add at anything below 1.5p as the company looks very under valued @ current market cap .
GLA

From Adam Back
early this year i was curious of the claim "bitcoin 2x's per year on average". it checks: the decade jan 2013 - dec 2022 #bitcoin  went up 2.036x/year (1200x in a decade). if that continues we'll cross $10mil/BTC and $200 tril market cap by end of next 2 halvenings, about 9 years.

If you know who Adam Back is you’ll understand the true significance of this tweet .

Although I accept there’s always risk in exploration companies the fact that Paul Johnson of POW has a large stake here provides me with reassurance and confidence , he certainly knows his stuff when it comes to small cap gold companies. GLA

Forget what the CEO of massive money management companies say publicly about Bitcoin.
Blackrock have taken a 8% stake in silvergate bank this week which has gone somewhat under the radar and is massive vote of confidence in the crypto industry,this follows JPM getting caught out as one of FTX’s biggest creditors. Both companies publicly bearish on Bitcoin and crypto yet secretly investing $bns .

Don’t listen to the noise it’s the signal you should be paying attention to .

Hi Tyke68
Good to see you still posting on here , are you on Twitter?

Btw Fleecy if you think your fooling anyone with your new persona please think again , but it’s good to have exposed why you are so bitter towards Bitcoin………. FOMO rekt !

Bitcoin did not drop from $60k to $48k overnight, in fact it took 8 weeks to drop that far from the April high and 11weeks to drop from $67k to $48k after the November peak hardly overnight rug pulls by greedy whales . And once again been frank if you based your investment on media speculation then you only have yourself to blame you got rekt .

Interesting change of sentiment from the German public who now seem to want nuclear energy again , not expecting an overnight change in German policy but the tide is turning in favour of sustained higher uranium prices !

With respect if you bought last year you clearly haven’t understood the Bitcoin cycle and what drives price . The halving ( reduction in availability) and increased adoption drives price . Each cycle more holders remain committed thus driving adoption ( moore’s law ) we can see this playing out perfectly with higher lows and higher highs each cycle.
We can also see from on chain analysis that long term whales have held through thick and thin , most ppl who blame whales for price movements don’t grasp that the overwhelming majority of so called whales are in fact exchanges such as Coinbase, kraken , FTX Or funds such as GBTC who’s holdings fluctuate every second of the day .
Think of Bitcoin as a social network, as it grows more ppl hear of it , gain interest and jump on board , sure some don’t understand it and once they hit the first bump in the road bail out , but each mile more ppl get a deeper understanding and become committed.

Government CBDC are completely different to Bitcoin, there centralised, will have no limited supply and in effect are just fiat in another format, the USA floating the idea of a $1trillion coin shows exactly what a Ponzi financial system we are currently operating there CBDC are just a desperate attempt to keep a failed system afloat .

13:30 GMT is the time to watch , US PCE index figures released, which will give a large pointer to the FEDs next move . At this point it will only be the market’s interpretation of the figures but it’s sure to move sentiment. I do agree it’s anyones guess $18.5k-$25K by Monday morning, I slightly favour the upside as all indications are prices are falling in the states , but hands up that’s my bullish biased probably talking.

It will be very interesting to see if we get another Friday pump today . The bulls are holding $22.5k with the bears clearly defending $23k vigorously.
If we can break and hold $23k that opens up $25k the good news there is there’s very very little resistance between $25k and $31k as Bitcoin has spent very little time in this area both on the way up and the way down, the halving tracker suggests a rise to the $30k area in the next 7-15 days IF we are following the 2016 cycle , the 2012 model suggests a fairly sharp pullback in a similar timeframe to around $18.5k .
My personal hunch is there’s a lot of pent up demand for BTC and we’ll see a continuing rise in coming days and weeks especially if the FED and central banks ease their hawkish stance. I think this is probably a rally based on the slight easing of global liquidity however these things can snowball quickly and what starts as a slight relief rally can gather momentum as FOMO kicks in . I’ve long stated the first signs of a bull run should start in April/May it’s looking like I could we’ll have made that call a little late , only time will tell .

GLA

Absolutely hilarious that JPmorgan ,you know the company lead by Jamie I hate Bitcoin Dimon has been exposed as one of the biggest creditors in the FTX bankruptcy filings.

Do as I say not as I do eh Jamie , you con artist . Remember these big banks nearly always trade against the advice they give there clients.

Bitcoin- slowly then suddenly;)

The current price movement in BTC is near textbook, exactly what we need to see , legs up then consolidating just below the next important technical level , let’s see if the Friday pump comes again this week , my hunch is it will providing there’s no major news of FTX / genesis contagion. A pump to $24.5-$25k. Is likely if we are following the 2016 model, if it’s the 2012 cycle then don’t get freaked out by a 25-30% pullback over the next 4-6weeks .

Just my reading of the charts and history, I’m probably wrong but it’s possible I’m right .

Interesting to see QBT potentially mining Alt coins .
This is a strategy other miners employ In order to maximise efficiency or extend machines lives , it has both advantages and potential disadvantages imo .

What it does mean is QBT will almost certainly have to set up a trading desk in order to maximise potential profits, realistically selling Alt coins mined and buying Bitcoin because we know from history Alt coins tend to have there day in the sun before blowing up spectacularly , from memory 94% of Alt coins in circulation in 2014 have failed the test of time and no longer exist .
Alternatively QBT could mine and sell straight to market for cash but that would be an incredibly risky strategy as your very much a hostage to the current market conditions, if you set up as a miner the strategy has to be to accumulate Bitcoin which we know over a full cycle goes up .

The next RNS will be interesting, FG needs to put some flesh on the bones he’s been throwing to the market, that said the quality of the research team is impressive.

And there we have it , the Friday pump is back ! Will it hold ….. hard to say but there’s some big rumours regarding GBTC which if true could really put in some very solid foundations for the next leg up . .

TA should only every be used as a guild as it’s based on a probability using previous price action.
We should also consider many popular TA analysts have an agenda to generate traffic/clicks . This is true of bearish and bullish forecasts .
One of the bears champions- Gareth solowsy is widely considered to be accurate , but ppl fail to point out he called $20k BTC when it was @ $48k that looks a genius call until you realise BTC went to $68k first so if you went short @ $48k you’d have been rekt following his advice.
I myself said BTC would hit $140k during the last bull run based on previous cycles although more conservative than many I was still woefully out , I did manage to call the peak late Nov -early December21. Back in the March of 21 .
My point is both bulls and bears tend to exaggerate there stances and middle ground tends to be the wisest place to position.

The price action action in Bitcoin over the last couple of weeks is very reminiscent of the late 2020 early 2021 run , almost parabolic moves to the upside then a period of consolidation just below important technical levels, Fridays used to be pump days when new levels would be reached . My own theory was because institutions would take positions on Friday so they’d be covered over the weekend, also retail would be pumping cash in on paydays.

Personally I still think it’s to early to call the start of the bull run this is more likely a relief rally, but if it continues the FOMO will kick in and who knows .

A hold above $21465. Could see $23.5-$24k in short order
As long as we hold $18.5k on any pullback we are ok . .

Btw the Friday pump would always start early afternoon GMT as the Americans got into there offices ….,, fingers crossed!