Do You BitCoin?

[Warcodered]

28 minutes ago, TheCockSportif said:

If the world economy collapses, who will run the servers -- that manage crypto?

If the world economy collapses who's going to run the actual sewers?

[TheCockSportif]

27 minutes ago, Warcodered said:

If the world economy collapses who's going to run the actual sewers?

So true.

[aristocrat]

I gotta admit the guy has confidence in this like I’ve never seen.  Like, flip the switch and everything is fundamentally changed and no bad things happen. So easy. I’m just curious if there’s a backup plan?

[TheCockSportif]

12 minutes ago, aristocrat said:

I gotta admit the guy has confidence in this like I’ve never seen.  Like, flip the switch and everything is fundamentally changed and no bad things happen. So easy. I’m just curious if there’s a backup plan?

I am certain that there is no backup plan, and I'm not trashing anybody.  It is what it is, crypto wise, that is.

[SoTier]

19 minutes ago, aristocrat said:

I gotta admit the guy has confidence in this like I’ve never seen.  Like, flip the switch and everything is fundamentally changed and no bad things happen. So easy. I’m just curious if there’s a backup plan?

 

True believers don't need backup plans.

[May Day 10]

Me and a friend got way into fallout 3 years ago.

 

Went to his house awhile back and he had a garbage bag full of bottle caps in his garage

[Teddy KGB]

It’s all over now right ?   Why are there still crypto commercials on tv ? 

[aristocrat]

Under 18k if it doesn’t hold next stop is 10k. Margin calls liquidation going on 

[Doc Brown]

House of cards is all it ever was.  Having said that, I might buy the dip if it gets below 9k.

[T&C]

https://www.baynews9.com/fl/tampa/news/2022/06/18/bitcoin-drops-below--20-000-as-crypto-selloff-quickens

 

“There are real human victims here that are ordinary people.”

[SoTier]

 

Crypto in the 2020s seems to be where the stock market was in the 1920s: an unregulated investing "Wild West" where fortunes can be made overnight -- and lost in hours.   A wise investor might put a very small percentage of his/her funds into it but in its present unregulated state, crypto seems about on a par with gambling at a casino or race track.   Maybe the crypto collapse will put the brakes on the recent push by some financial companies to push crypto "investments" for 401ks and Roth IRAs. 

 

 

[Jauronimo]

On 6/18/2022 at 8:52 PM, Doc Brown said:

House of cards is all it ever was.  Having said that, I might buy the dip if it gets below 9k.

I didn't have a ton into crypto but I really wish I had stuck with my plan to invest and forget about it.  Instead after 2 years of watching abysmal charts I cashed out well before peak in this latest cycle.   

 

If you can afford to wait 3 or 4 years, an investment at $20k or below is likely to net you a good return if history is any indicator.  Granted you might still lose half if you buy in today before you get back to even.  What gives me pause is that the crypto markets were supposed to be inverse to stock market movement or at least not correlated.  Instead we see crypto crashing during times of high inflation, increased commodity prices, and global instability.  Is that a result of the large influx of institutional cash into the game?  I don't know, I'm just a casual observer.

 

 

 

 

[Not at the table Karlos]

3 hours ago, SoTier said:

 

Crypto in the 2020s seems to be where the stock market was in the 1920s: an unregulated investing "Wild West" where fortunes can be made overnight -- and lost in hours.   A wise investor might put a very small percentage of his/her funds into it but in its present unregulated state, crypto seems about on a par with gambling at a casino or race track.   Maybe the crypto collapse will put the brakes on the recent push by some financial companies to push crypto "investments" for 401ks and Roth IRAs. 

 

 

Much easier to make money in crypto than a casino. Play the peaks and valleys. As long as it goes up and down there's easy money to be made.

[SoTier]

1 hour ago, Not at the table Karlos said:

Much easier to make money in crypto than a casino. Play the peaks and valleys. As long as it goes up and down there's easy money to be made.

 

For the ordinary person, I'm guessing that's unlikely.   Market timing in the stock market has never proven to be an effective long term strategy for individual investors, so I can't see the much more volatile crypto markets being better.   There are people who make good livings as professional gamblers at casinos but the average joe who wanders in off the street loses a lot more often than he wins.

[DrDawkinstein]

On 6/18/2022 at 4:14 PM, aristocrat said:

Under 18k if it doesn’t hold next stop is 10k. Margin calls liquidation going on 

 

And then bounced immediately back to $21k.

 

It's highly unlikely it ever goes back under $10k, just because at certain "discount" levels you will see a bunch of people buy in and send the price back up (which is exactly what we saw this weekend). The second it hit $17,500 a bunch of limit orders triggered and shot it back up.

 

If it ever somehow dropped to $10k or below (a whale selling 10,000BTC in a single shot), it would cause such a buying spree that I wouldnt be surprised to see it jump immediately back to $30k+ that same day.

 

13,000 holders crossed the threshold to owning 1 whole BTC this weekend, so there is plenty of life left in this experiment.

Edited June 20, 2022 by DrDawkinstein

[aristocrat]

On 6/20/2022 at 1:41 PM, DrDawkinstein said:

 

And then bounced immediately back to $21k.

 

It's highly unlikely it ever goes back under $10k, just because at certain "discount" levels you will see a bunch of people buy in and send the price back up (which is exactly what we saw this weekend). The second it hit $17,500 a bunch of limit orders triggered and shot it back up.

 

If it ever somehow dropped to $10k or below (a whale selling 10,000BTC in a single shot), it would cause such a buying spree that I wouldnt be surprised to see it jump immediately back to $30k+ that same day.

 

13,000 holders crossed the threshold to owning 1 whole BTC this weekend, so there is plenty of life left in this experiment.

trying to defend 19k.  

[sherpa]

On 6/20/2022 at 1:41 PM, DrDawkinstein said:

 

And then bounced immediately back to $21k.

 

In market parlance, that's called a dead cat bounce.

[Poleshifter]

When most of you guys talk about crypto, why do you only focus on Bitcoin? I know it's the first one, and maybe the only one most people are aware of. But it is backed by nothing but thin air. Of course it goes up and down, manipulated by the whales.

 

Do a bit of research and look at the few coins which can be considered "asset-backed digital assets". It is easier just to call them crypto, but XLM and XRP are functional in the new financial system.

 

Did you know that you can buy XRP today for 34 cents? It's an amazing value. XRP is still de-listed on many exchanges, but is available through Lobstr.

 

Open a Lobstr account, buy some XLM (from Coinbase or wherever) and send them to your Lobstr address. Swap some XLM for XRP, and you can soon have more money than you can imagine. Just spend even $50 or $100, and you will make some BIG money.

 

Or you can just keep riding the Bitcoin roller coaster, at least until completely goes off the tracks.

 

[Warcodered]

1 hour ago, Poleshifter said:

When most of you guys talk about crypto, why do you only focus on Bitcoin? I know it's the first one, and maybe the only one most people are aware of. But it is backed by nothing but thin air. Of course it goes up and down, manipulated by the whales.

 

Do a bit of research and look at the few coins which can be considered "asset-backed digital assets". It is easier just to call them crypto, but XLM and XRP are functional in the new financial system.

 

Did you know that you can buy XRP today for 34 cents? It's an amazing value. XRP is still de-listed on many exchanges, but is available through Lobstr.

 

Open a Lobstr account, buy some XLM (from Coinbase or wherever) and send them to your Lobstr address. Swap some XLM for XRP, and you can soon have more money than you can imagine. Just spend even $50 or $100, and you will make some BIG money.

 

Or you can just keep riding the Bitcoin roller coaster, at least until completely goes off the tracks.

 

Wouldn't that just be an asset, the thing with actual value, just with crypto colored wrapping paper?

[Poleshifter]

22 minutes ago, Warcodered said:

Wouldn't that just be an asset, the thing with actual value, just with crypto colored wrapping paper?

XRP is backed by gold. XLM is backed by silver.

 

Gold and silver are the assets.

 

Most people are not accustomed to crypto being backed by anything but hope.