might be enough

Hookers & blow for everyone! Around $9300 now.

https://pbs.twimg.com/media/D9GLa1MWsAAEX7f.jpg:large

Bitcoin broke $9500 today. $10k and all the publicity that will come with it could be just around the corner. Now the 8th largest currency in the world, 9th if you count gold as currency.

Bigger Than Russia – Bitcoin Now 8th Largest World Currency

Christina Comben | Jun 19, 2019 | 16:00

The Rundown

Which Countries Have the Biggest Monetary Base in the World?
Bitcoin Monetary System Now 8th Largest World Currency

Still think Bitcoin is a passing fad? Here’s a news flash for you. At $8,940, it’s bigger than Russia’s monetary base. That makes Bitcoin the eighth largest currency in the world. And the price keeps on climbing…

Which Countries Have the Biggest Monetary Base in the World?

The answer might surprise you. Check out the chart below by Crypto Voices. You’ll see that gold is still by far the largest monetary system in the world at almost $8 trillion. However, Bitcoin is hot on its heels.

When it comes to a country’s monetary base, however, that is measured in terms of the total amount of currency in circulation or held in commercial deposits in the central bank, not in its gold reserves.

With its $25 trillion dollar debt, it’s no surprise that despite being the world’s largest economy, the U.S. lags in fourth place behind Japan, China, and the Euro Zone when it comes to base money.

You might wonder why oil-rich countries like Saudi Arabia and the United Arab Emirates don’t appear on this report. Is it because most of their wealth is held in oil and not in fiat? Crypto Voices says:

"Don’t know their methodologies, but Saudi Arabia and Denmark, for example, are pegged currencies, so their base money is the USD and EUR, respectively, and shouldn’t be counted. The correct economic comparison is the monetary base value of each currency’s central bank."

Bitcoin Monetary System Now 8th Largest World Currency

If you don’t count gold and silver, Bitcoin is now the eight largest currency in the world. It comes in at 9th place after the two precious metals.

How significant is this? Well, with a market cap currently at $162 billion and with some analysts predicting a BTC value of over $40k by the end of 2019, after just 10 years of being created, it’s a pretty big deal indeed.

Bitcoin is already bigger than the base money of Russia, South Korea, Brazil, Canada, and Norway. With cryptocurrency adoption on the rise around the world, it won’t be long before it catches up with–and overtakes–the monetary base of India, Switzerland, the UK, and, yes, the United States as well.

https://bitcoinist.com/bitcoin-russia-monetary-base/

Going to exceed $10k today. Definately will over the weekend. Weekends tend to see good gains.

9901 now

The trick is to sell right before the poop starts flying out on you.

$10,153

Edit: $10,225

We're rich again bros

Too the moon

Haters gonna hate

Only thing we have to fade is quantum computing.

Facebook entered the game.

Been just buying OTC:GBTC instead of bitcoin. Grayscale Bitcoin Trust. $1.9 billion of bitcoin assets under management. Moves with bitcoin. Hit a high of around $38/share on the 12/2017 bitcoin run to 20k. Started buying at $7.20. Closed today at 13.55. Bought bitcoin on the first runup and held longer than normal because of the high transaction fees. Probably lower now, but I trade stocks for a living, so this is more in my wheelhouse. GBTC is $4.99 to trade, like any other stock on TDAmeritrade. If it hits my stop, I'm out immediately and could buy right back on a bounce. Already swinging a decent amount. Wired funds today, won't be available until Monday. Was hoping against hope that bitcoin would wait until Monday to break 10k so I could add 1800 shares to get to my final position size and hopefully swing it for 1 year. Need a pullback, don't want to buy into a spike. When bitcoin first broke $10k on the 2017 run, there was a pullback from around 11,500 to around 8500 before it bounced right back and ran to $20k. Hoping for something similar, these things have a tendency to repeat themselves.

Warren Buffett says, “Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble”. Putting all my buckets out - and then some. Pushing them all to the middle of the table. Did well on the last bitcoin run with bitcoin, ethereum, ripple, and EOS, but this is the move I've been waiting for. I think bitcoin is going to smash the old highs. Will either be sitting on the 50 yard line for the rest of Mahomes's career, or be watching him in sports bars while drinking ice tea for the rest of his career.

And this isn't investment advice. It's borderline insane.

You’re right, it is insane. If you believe in Bitcoin/Crypto, buy that and a hardware wallet, not GBTC.

Been there, done that. Have absolutely nothing against it. This is what's best for me. I do appreciate the advice. Sincerely.

In investing/trading, always do what works best for you, don't take other people's advice. Assuming that you've put in the time (years), of course. It took a lot of expensive lessons for me to learn that.

Curious why it didn’t work for you if you care to expand? Not trying to talk you into anything, just wondering.

I did work for me, that's why I have nothing against it. I trade for a living and like the liquidity of GBTC. I'm in-and-out in a flash. The only caveat is that GBTC is an OTC, so you can't trade it outside of normal market hours. The first few weekends I held a lot of GBTC aged me in dog years, especially the weekend bitcoin flash crashed down to 6600 briefly. Now I'm using house money, so it's nowhere near as stressful.

If this trade works out the way it's intended to, after I hold for a year, I'll sell and buy some actual bitcoin. I already have wallets for bitcoin, ethereum, ripple, and a few other alts.

10,400

Pretty wild.

FOMO + short squeeze = parabolic moves

Waiting for the inevitable crash back below $10k to shake out the chasers. When it will come is anybody's guess, but it's almost certain to happen.

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And then buy some more!

And then #hodl!

It's really difficult to show restraint and hodl. I'm hodling until 20k.

$10,600

Much more bass than treble in this one.

Edit: $10,750

Edit: $10,830

I find it easy. I'm waiting for 50k+

LOL, at this rate that could be next week. Going full-on supernova right now.

I went in with $40K over last Wed/Thurs. Around 7800. Just because.

Now I'm glued to the ticker. LOL

:cheers:

I'm with you.

"Always sell what shows you a loss and keep what shows you a profit." - Jesse Livermore, from Reminiscenses of a Stock Operator. One of the best books ever. Written circa 1920 but still incredibly, almost eerily relevant.

Book some profits along the way, of course.

LOL, been there. The first time around in 2017 and early 2018, I made a spreadsheet with my different coins. Punch in the current prices and it would total everything. I was updating it every 5 - 10 minutes for literally weeks. It's addicting!

Beautiful, by the way. Very well played. :clap:

Depending on your goals, 5+ bitcoins could be worth game-changing money a year from now.

Hey, let me ask you. What is the most efficient way to bank some profits?

I ask because I tried initially and didn't know what I was doing and probably excited and with the input and output costs I lost money. Like $4k. Coinbase.

I did learn the value of HODL though.

But now as I peek at my max sell, I see the fees are much lower. I don't know what the **** I'm doing man. Right now I'm thinking the longer you are in, the cheaper the fees. At least to a point. dunno.

I've got several Litecoin but I changed my email address and now can't access my account. I need to call coinbase tomorrow and get that fixed.

What are the actual Coinbase fees for buying and selling a bitcoin now? On the first runup, not wanting to pay $200 every time I wanted to buy or sell kept me in longer than I should've been.

In terms of how to book profits, that's impossible for me to tell you without knowing your situation. If you put down $40k, it's probably pretty good though. You need an exit plan that you're comfortable with. Don't try to catch the top of the move, but realize that opportunities like this could turn out to be don't happen often. Pulling your initial seed money out is liberating, because it takes a lot of the emotion out of it. Trading is fighting human nature. Especially this kind of volatility.

It's nice to have a chart with a trend-line. On this chart I have a trend line drawn that starts at the bottom of the 4/1 candle to the bottom of the 4/25 candle. If it breaks that, I'm no longer bullish and I'm out. Currently sitting around 7700.

https://bitcoinwisdom.io/markets/bitfinex/btcusd

Thanks man.

https://i.imgur.com/Cj3qXPH.jpg

https://i.imgur.com/qM2ilhd.jpg

Lost my phone in Mexico in March 2018 and I didn't have my passkeys written down. Freaking nightmare, took weeks to access my Coinbase and Binance accounts. Crypto takes losing your phone to a whole new level of suck.

Those fees are still pretty pricey. One of the reasons I like GBTC. $4.99 in and out.

A little advice...

Move your coins and funds to GDAX (Coinbase pro) and buy/sell on there.

I haven’t bought or sold any crypto since this time last year, but once I moved things to coinbase pro, I cut my fees massively.

Btc 11,156 this am
Eth 317

Should have bought a some crypto back when ethereum got under 100 and bitcoin got under 3500.

Hey, you're doing what I do. Buy high and sell low. It's all about the tax write offs , right!

I got some solid advice to avoid XRP and go after Bitcoin. That was good advice.

Oh I didn't process these. One final submit button that I don't let my mouse get NEAR.

HODLDave

keep in mind that this shit is supposed to be actual money. XRP might be good for that instead of the speculative game.

24 hours:

https://i.imgur.com/pDUQUl6.jpg

I'd be putting a stop loss on that shit in case it tanks.

7 day:

https://i.imgur.com/Ir05DA1.jpg

7 day what?

What is pushing this Bitcoin bump, anyway? And why is XRP still floating between .40-.50 in spite of all the mass hysteria to buy and HODL?

GOD DAMNIT XRP WILL BE MONIES NOT STOCKIES Bitcoin was on 60 minutes and facebook opened their coin is my guess.

Also if not mentied Ari-Chiefs has a huge podcast called bad crypto podcast.

Facebook's announcement of their crypto, Libra, helps legitimize the entire sector. There is also unrest about US relations with Iran, which has caused doubts about USD.

I really have no idea what you mean about the mass hysteria to buy XRP. However, typically altcoins (even larger ones such as ETH and XRP) have their pump after Bitcoin levels out.

"Mass hysteria" means constant texts from my friend, and the freaking out by people (bots) on some XRP Facebook page, lol.

ALSO also, teedub was pushing Bitcoin hard from a few months ago.....

Last year at that eclipse he came to joe's hoo boy he had all kinds of inside information. I try to do my best with what is given but when Joel Comm says this has the ear marks of the new twitter I am on board.

I've never been a huge fan of XRP. I don't see the use case for it, and it is too centralized for my tastes.

Whoops. Sorry man. It's a 7 day graph.

One thing noticeable about this run compared to the last is that the crashes haven't been as violent. I was expecting a significant pullback at the 11,500 area like the one in late November 2017 when it went from 11,500 to 8,500 before bouncing right back to new highs a few days later. Nothing though. Chewed right through, then chewed right through the resistance at 11,775.

Makes it seem like more institutions/whales are involved this time around, which I mentioned awhile ago based on the buying patterns that were happening in April and May. Not a bunch of emotional noobs expecting a lottery ticket and panic-selling every mini-crash.

This could get REALLY interesting.

Daily chart getting overextended, could use some healthy consolidation time.

Or just go full-on supernova and not consolidate until $15k-16k. That'd be fun.

I wish I had had the time to be a player in this one when it started running.

It definitely looks and feels different than the previous big runs and so far I'm seeing very little of the social media excitement that made it obvious all the regular joes were a part of the previous runs.

Key point right there.

They're involved, but to a much lesser degree seemingly. And when they start panic-selling it's getting bought right back up.

Unfortunately, many will share the same sentiment with crypto as they did with 1950's baseball cards. "The damn things were there for the taking but I put them in my bike spokes for a cool sound"

Future wealth will be determined by how much stake you have in certain networks. - some internet douche

13k yea yea boi!
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13,568

Aww, damn man, major drop. 11698. I was hoping for 14 today.

**** you haters.

Boom.

LFG

Sold mine to buy Gold/Silver...it's a wash?

Yeeee hawwwww! Buckle up buttercups! Crypto is not for the faint of heart, LOL

https://thumbs.gfycat.com/CheeryVeri...Atlasmoth.webp

Freaking missed my prime dip buy opportunity.

It's hard man. It lasts all of a few minutes.

Settling at 12.5 is fantastic.

The prime buying opportunity was when we were staring $3.5k in the face. Anyone else fill their bags then?

ROFL

Yes it is. Much, much-needed correction. That daily chart was going parabolic, and that's never sustainable.

Never sold any other than 0.4 over the last year. And accumulated more.

Bitcoin (and/or GBTC) 2019/mid-2020 >> Alts mid-2020 and beyond >> Gold/Silver late 2020 and beyond

A plan like that might work out nicely, and you really couldn't go wrong with any of the 3 categories in any time slot. Depends on what you're looking for, dependability or a moonshot.

Was looking up this crypto semi-legend guy DavinciJ15 because he makes a pretty compelling argument for Silver over Gold and saw that he just uploaded a crypto video about an hour ago. Talks about this correction. Technical lingo, but easy to understand. The .618 jargon is fibonacci retracement info. Good to know about, but not essential. The Dolph Lundgren on acid/speed guy is pretty amusing.

https://youtu.be/5tyg33Q_854

A couple thousand...not much. eDave type numbers are too rich for my risk averse blood.

I wish a couple thousand was not much to me LOL

Liquidated my entire GBTC position early this morning to protect. That's why I like the stock instead of bitcoin. Cost $4.95 to liquidate instead of hundreds. Hoping for a major correction below 10K to buy back a bunch more shares than I had for the same price I sold for.

Got out to take a breather and monitor the situation last night. Cost me $153.

Saved WAY more.

Good job locking those profits. Probably be able to get back in much cheaper soon after the dust settles, if that's what you're looking for. Always protect.

Use Robinhood for BTC. No fee

Robinhood also has commission-free stock trading but the executions are terrible, so not many experienced stock traders use them. Might be completely different for bitcoin though, and really most of the crypto exchanges are pretty sketchy anyway, so maybe it's worth it.