Loading ...Re Surf Citys Weekend Reading
THANK YOU VERY MUCH SURF CITY
JC Collins is quite a unique analyst.
I know you have been following him for many years
Back in bout 2012 2013 you were an early member of Rambus Chartology and Rambus Forum
Around that time I was contacted privately by an interesting fellow who became know as Deep Voice .
We gave him a voice at the Forum . You and Plunger and Spock and I eventually spoke with him on the phone,
His message was very compelling ….Very soon the Reset of the Financial System was to be announced and overnight everything would change
The Forum was all abuzz but alas this didn’t happen and Deep Voice Disappeared.
Meanwhile a member found JC Collins site and shared it with us. He was writing similar ideas regarding the eventual reset.
YOU are the only the I know of who has embraced the Philosophy of Metrics work .
I have not joined the site but always read your links with interest.
This one has made me rethink my skepticism of Crypto Currencies.
I also thank Dangermouse for keeping me honest and trying to open my closed mind towards Crypto
He has been harping on Ripple and I have been very dubious about that too.
Time to get serious about all this folks .
I strongly urge all Goldtent readers to get a subscription to Surf City cycles.
Surf has been working to identify the pulse of Bitcoin and has been very successful lately.
GBTC has been his trading avenue but he is about to add other cryptos to his watch.
Apart from being a superb Cycles Analyst Surf is a serious student of Macro Economics and a very valued member of the Goldtent Community.
This is a unique service and will be very valuable to those trading these things.
I plan to do so going forward with Surfs expert cycles guidance.
Even if you hold your coins in your own wallet–which you must, there’s still an intermediary with cryptos. And that’s the internet itself. Not so with gold. And as for no naked paper shorts, hasn’t Rambus been showing us recently how gold trades without corruption in a series of perfect TA patterns?
That’s right, but internet is running fo decades now.
You should consider investing 5% of your portfolio in digital assets (50% BTC and 50% XRP).
Nearly all Bitcoin trades are fake, apparently.
https://www.technologyreview.com/f/613201/nearly-all-bitcoin-trades-are-fake-apparently/
BTC is massively manipulated; but it is still a very immature and unregulated market.
That will change soon.
Still, BTC settles 1 to 1 on the blockchain and its number cannot be deluted by derivatives.
https://philosophyofmetrics.com/category/premium-pom/
That’s the link to JC Collins site.
https://philosophyofmetrics.com/category/free-pom/
Fully, Thanks for your thoughts. I mostly have followed JC because of his work on global monetary outlooks & the USD but over the past couple of years, his work on Cryptos has convinced me that they have a viable place in my portfolio (10% seems reasonable which is the percentage that I limited my trades in 2019 to). JC feels that the USD is headed lower and that lines up with my Cycles work as well.
Could anyone of you informed crypto guys explain how Canamex crypto token which is claim on potential gold and silver yet to be mined by Canamex differs from all these other cryptos? How will Facebook crypto be better or worse than bitcoin? I do understand that cryptos could be a “temporary” way of moving wealth out of a politically repressive regimes to avoid confication of that wealth, but I can’t get past the fact that physical gold and silver or tangible things are the only true wealth.
Here is my quick & dirty feedback. The current King & Queen of the Crypto space are BitCoin & Ethereum. Others that look interesting are LiteCoin & Ripple (XRP) although the XRP chart was not anywhere as bullish as the others (it had a double roughly while Bition increased 4 fold + off its December 2018 lows). After that, there are a whole bunch of Alt Coins that I call “Shitcoins” until they can prove themselves over time.
So basically I group any new Crypto as a “Shitcoin” until it can prove itself with price action on a chart. Will I miss some impressive moves on some Initial Coin Offerings (ICO)? Yes but I am ok with that as they could also just be a pump & dump. For my Cycle work, I need to see price action over time so I need some History to look at. Sorry but no ICO’s for me.
Hi Surfcity, I agree on everything you say.
However I invite you to look some deeper in XRP ‘s fundamentals and global network:
https://youtu.be/U-tk1dJAeyM
XRP is older than Bitcoin and will dwarf the growth of Bitcoin.
It is THE chosen digital asset for the future architecture of the new monetary system when the old one will fail:
https://youtu.be/HrG0-U7M69I
Dangermouse, I am very aware of Ripples technology and future potential but was speaking only to its chart over the past 6 months versus the others. Potential is great but actual price action is King in my TA book… 😉
I see !!
That depressing price action could be by design in order to discourage XRP holders as much as possible in front of Bitcoin taking off….
My experience is that you either own this asset or you don’t.
When this thing takes off it is usually very difficult to get aboard.
As soon as you notice it, it has already 2 or 3 x-ed and you hesitate to jump on the wagon…
Anyway, I am happy to find a goldtenter that gets the role of cryptocurrencies.
Have a phantastic week Surf !!
Regarding your thoughts that Cryptos are temporary. Anything is possible but remember that Fiat Currencies have been around for centuries and today none of them are backed by anything and are printed at will (unlimited supply) yet still have value. BitCoin & Ethereum have extremely limited supply (like Gold) and currently have no paper market for Naked shorting that I know of. My view is that they have a role in my portfolio (up to 10%). Remember that I called the top in December 2017 and largely avoided this space until the ICL in December 2018 when I bought back in near the lows based on my Time & Price Models which indicated a major low was very close.
Here is my ICL call in Dec 2018:
https://surfcity.co/2018/12/22/bitcoin-gbtc-update-28/?fbclid=IwAR25b13h6AzZel_JpwNZvtVc1OgGRUkCza8E4aoINth3jvQ2yAd38eC76BI
Here are my top calls in Dec 2017:
https://surfcity.co/2017/12/14/bitcoin-parabola/?fbclid=IwAR0_qHF43aghyYe4qX8BomJkaeqEVOCZuLRGLyRWWN5NVswFUuir_kPbSBI
https://surfcity.co/2017/12/30/bitcoin-btc-cycle-update/?fbclid=IwAR3VClxWxlfqbvrtr6skNkTc1UuNeZzvnWnc5VdggKJR7AnSQe_TXIkARro
And what about XRP? What’s the bull case here? Limited supply or not?
Definitely LIMITED !! 100 billions and deflationary because of coin burnings (at every transaction).
I will have to check on XRP supply as I have not really verified it but that is typically part of the pitch for most Cryptos. My real interest in Ripple XRP is its technology and Speed. BitCoin is the King right now but its settlement process is relatively slow compared to Ethereum and especially Ripple.
As a result of its technology & speed, Ripple has been and continues to be adopted by banks and payment networks as settlement infrastructure technology, which is huge. So Ripple is clearly being adopted by many Central Banks and has the potential to become the defacto standard for cross currency banking settlement which would replace the USD SWIFT network. That said, the actual Crypto chart on XRP has not yet been as bullish as BitCoin, Ethereum or Ripple to name a few.
“Regarding your thoughts that Cryptos are temporary. Anything is possible but remember that Fiat Currencies have been around for centuries and today none of them are backed by anything ”
I believe you are incorrect here, Fiat currencies have largely only been backed by nothing since 1971 there is probably some exception though. It is my opinion that this current monetary system will be reset in the not too distant future and I hold my wealth in tangible assets. Now trading cryptos might be viable but I am not there yet. Good luck to you!
I am just looking at this…https://www.youtube.com/watch?v=1LCdkFYkGbk
FINAL THOUGHT Sunday night:
The cryptocurrency topic is definitely gaining some attention by goldtenters.
That’s meaningful. Good night gentlemen !
Thanks Dangermouse