Bitcoin crash coming?

[aigel]

The whole thing above sounds like gambling. Not like a currency. Guy being upset he got out too early. And guy unhappy he didn't bet, I mean "invest". IDK about you, but I can't start gambling like this with any of my money. It is way too stressful and there is zero influence I have on the outcome.

I don't even go there "could have should have", but what about the people that bought it at 60+k? Nobody ever talks about those. Are they going to hold it? What a crock.

It also looks like the "currency" isn't really holding up like a safe haven. Gold is up up up, crypto is down down down. I always have to chuckle seeing the golden bit-coin renderings in articles mentioning bitcoin. Interesting world we live in.

[svandamme]

Well if they bought at 60k + you can only hope they had the smarts to eat their loss at 59500.

It's like the L&H voice tech scandal in Ypres, they were going to build flanders speech valley and be like the sillicone valley of europe.
booming biz, people jumping to invest.
then suddenly KPMG audit turns out to be a bust
the entire thing imploded and everybody and their grandmother yelling they got duped and lost their savings.

Duh.. I knew damn well what a hype it was when it happened.
And I know plenty of people locally that got VERY rich off L&H when it took off, and then they sold to the everybody and their grannies.
Obviously the everybody and grannies bought in at 60, and the early rich investors got richer of them.

https://www.wsj.com/articles/SB976143929804554337

hell some local politician was in charge of a union tax investment scheme , told everybody to jump in on that.
blue collar people.. banking their entire retirement on it.They called it a co-op.
he later became prime minister.. turned out as scumbag as I already knew him to be before all of it..
ran off for high level OESO and IDEA chairman ship.. he's a career scumbag now..
https://www.reddit.com/r/belgium/comments/4dauws/can_anyone_explain_to_me_why_arco_is_such_a_big/

the blue collars, well they'll have to be a bit more frugal in retirement now.. some very, cause some dumbasses borrowed for it.
Bit like how some borrow to get in on the crypto.
https://www.nerdwallet.com/article/loans/personal-loans/what-is-a-crypto-loan

Greeeeeeeeed

[RobFrost]

A lot of people seem to have forgotten that wealth is the work you've done, whose output you haven't yet consumed. Remember that and keep on putting more in to society than you take out and soon you have some wealth accumulated.

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[Jims5543]

Originally Posted by aigel

The whole thing above sounds like gambling. Not like a currency. Guy being upset he got out too early. And guy unhappy he didn't bet, I mean "invest". IDK about you, but I can't start gambling like this with any of my money. It is way too stressful and there is zero influence I have on the outcome.

I don't even go there "could have should have", but what about the people that bought it at 60+k? Nobody ever talks about those. Are they going to hold it? What a crock.

It also looks like the "currency" isn't really holding up like a safe haven. Gold is up up up, crypto is down down down. I always have to chuckle seeing the golden bit-coin renderings in articles mentioning bitcoin. Interesting world we live in.

If someone bought at 60K I would hope they are holding for the long game.

Imagine buying a stock 10 years ago at pennies per share and it shooting up to 60K. Then dropping back down to 40K, If you purchased a 60K would you dump it?

I diversified my investments greatly. My hedge against this fake stock market is Gold / Silver and Crypto.

What other hedge is there? Cash? Cash is losing its buying power ever month that goes by.

I have a relatively small amount in Crypto compared to my investment accounts and my G&S stores.

If I had to put a percentage on it, I would guess 2-5% I really never worked that out.

What I did work out is the fact that what I have in Crypto is an amount I do not care about, if I lost it all tomorrow it would be annoying but not life altering.

While Crypto is down, I keep nibbling at it on a monthly basis.

That 180K my friend made cashing out? He mined all of it, his mining rig is in a server room in his office/business so technically the power consumed was a write off too.

[svandamme]

so technically it was tax fraud?

mining costs on company as deductable
mining profits cashed privately

[Jims5543]

Originally Posted by svandamme

so technically it was tax fraud?

mining costs on company as deductable
mining profits cashed privately

LOL!! Yup!!

You own any pearls? Now is a good time to get them out.

[Jims5543]

I think I am going to nibble on some DASH and ETH today.

I feel a little hungry and they are on sale.

[RobFrost]

Originally Posted by Jims5543

What other hedge is there? Cash? Cash is losing its buying power ever month that goes by.

More Porsches, obviously. I can't believe you had to ask.


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[RobFrost]

Originally Posted by Jims5543

I think I am going to nibble on some DASH and ETH today.

I feel a little hungry and they are on sale.

Fire sale!

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[svandamme]

Originally Posted by RobFrost

More Porsches, obviously. I can't believe you had to ask.


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Porsche IPO coming !
buy Porsche
profit
buy Porsche with profit

[svandamme]

Originally Posted by Jims5543

I think I am going to nibble on some DASH and ETH today.

I feel a little hungry and they are on sale.

where on this graph did ya buy?

ETH :


That they can go "on sale", as in marketed as being on sale..
If anybody did that with real stocks, the SEC would be up their @ss faster then that graph knows how to drop.

[Jims5543]

Originally Posted by svandamme

where on this graph did ya buy?

ETH :


That they can go "on sale", as in marketed as being on sale..
If anybody did that with real stocks, the SEC would be up their @ss faster then that graph knows how to drop.

Never bought any ETH nor DASH I was too busy. I actually forgot to get online and buy some. I mostly buy up Dash anytime it is below $100. I just put in a buy for 3 more.


LOL @ FEC yeah they punish everyone BUT the FED and DC Politicians when it comes to shady trading.

I fail to see where the FEC would go after someone for buying up a sale.

Also, people do it all the time, when the stocks dropped because Ukraine was being invaded, the guy I follow for stock tips screamed buy buy buy. If you bought the dip that morning you did very well in 1 day.


When The Rona shut down airlines and cruise lines a good friend of mine (who happens to be a DOD pilot) purchased 100K spread across Airline and Cruise, I would have too if I had been more savvy, he turned that 100K into 300K.

What was illegal about that?

[svandamme]

because if anyone were to anounce discounted prices, outside the actual trades on the floor.
it would be considered insider info, and price manipulationg that facilitates outstanding shorts.

it's the advertising that certain shares are available at a discount, by the trading platform
they do it all the time on crypto platforms..

that would never be allowed on the real stock exchanges.

the crypto exchanges are unregulated, they get away with murder.

[svandamme]

Originally Posted by Jims5543

When The Rona shut down airlines and cruise lines a good friend of mine (who happens to be a DOD pilot) purchased 100K spread across Airline and Cruise, I would have too if I had been more savvy, he turned that 100K into 300K.

What was illegal about that?

If your good friend did this, before the news was public.. And he somehow knew about it via his job on the inside, then he too would be liable for charges of insder trading.. And it's not something they laugh about..

[Jims5543]

Originally Posted by svandamme

If your good friend did this, before the news was public.. And he somehow knew about it via his job on the inside, then he too would be liable for charges of insder trading.. And it's not something they laugh about..

We are on 2 different pages. You are stuck on insider trading, I am looking at common sense trades.

Carry on, let me know if you need any pearls.


Same goes for G&S - I have alerts set to my phone, if silver drops below $22 an ounce I got on a buying spree.

I build cash reserves (like I am doing now with silver up to $25 an ounce) so when it dips, it always does, until it will not anymore, I make some larger purchases.

Same goes for crypto, I keep some cash on hand to invest into it in nibbles when it dips down.

I have no inside information, neither does my friend, we use the tools available and look for opportunities.

In early 2020 I was stupid, I backed out of RE deals because of the Rona, I froze because I believed the fear porn.

That cost me a 200-400K in profits.

[svandamme]

sure, silver no sweat, that makese more sense then crypto..
it will never become air.
worst case you can make silver bullets with it for use against wherewolves

[widebody911]

I've been reading that a relatively small number of individuals hold most of the bitcoin and control most of the mining. They can't cash out in any significant amount without causing the value to plunge, hence the big media marketing push to get the little guys to take it off their hands.

[svandamme]

Crypto.com is a nice example, they have matt Damon giving a nice speech about how fortune favors the brave.

I wonder if he gets paid in hard dollars or in cro crypto.

And does he leave his cro in or does he cash out rightafter the ad campain when the cro goes up?

[Jims5543]

Banning Russia from the world banks, has caused a run on BTC.

Seems Crypto sellers cannot ban Russians from buying.

As a result, BTC is up 15% today. A rising tide blah blah ...All my crypto is up one to 15%.

I just dumped some cash into BTC with the plan to move it to other under performing crypto by weeks end.

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[Skillet83]

I keep buying with fun money. I just DCA a little every month, good or bad, but have a very nice stack. It goes up, it goes down, very volatile. But, at the end of every year, I have a whole lot more.