Bitcoin...Cryptocurrency

[Kevin Smith]

Bitcoin isn’t the problem……it is some of the exchanges and some of the alt coins that are sketchy if not downright fraud.


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these folks would have a better chance gambling at a casino.

[RiverRat1]

what’s the difference?

Difference is huge. I assume you own stock. Lets say you bought DELL stock through E-trade. If E-trade turns out to be one huge ponzi scheme and you lose all your money, does that mean DELL stock was a scam?

[Kevin Smith]

Difference is huge. I assume you own stock. Lets say you bought DELL stock through E-trade. If E-trade turns out to be one huge ponzi scheme and you lose all your money, does that mean DELL stock was a scam?

I’ve been watching this thread for a long time, it just sounded to good to be true. It just never intrigued me. It seemed scammish from the beginning to me.

[Kevin Smith]

The interest is up and the stock markets down and you’re going to get mugged if you go downtown. But a country boy can survive.

[RedYote]

Who's got BITO?

[Chase This!]

Just checking in to see how many Lambos.

[KoonceCrushed]

Been steadily buying more BTC........

[rtp]

Bitcoin...Cryptocurrency

Just checking in to see how many Lambos.

Not Lamborghini money but I do enjoy trading it when I have the time. The last time I was buying in the 40s. I sold it all right at 60. Haven’t touched it since. My son still has all he bought between 1-2k. I gently suggested he might want to sell when I did but he wasn’t having it. He’s young so whichever way it goes he’ll be fine.

A lot of people have made a lot of money on crypto and a lot of people have lost a lot of money on crypto. Just like all other investments. There is a buyer thinking it will go up for every seller thinking it will go down.


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[camoclad]

Not Lamborghini money but I do enjoy trading it when I have the time. The last time I was buying in the 40s. I sold it all right at 60. Haven’t touched it since. My son still has all he bought between 1-2k. I gently suggested he might want to sell when I did but he wasn’t having it. He’s young so whichever way it goes he’ll be fine.

A lot of people have made a lot of money on crypto and a lot of people have lost a lot of money on crypto. Just like all other investments. There is a buyer thinking it will go up for every seller thinking it will go down.


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True ^.

And whatever you think of "crypto" or "btc", you should know, one way or the other, you will be made to participate in the blockchain to aquire something you need at some point.

I say that just to say it's better to learn and understand now rather than getting caught off guard. Not trying to bring doom and gloom...

[txlawdog]

Bullets and beans are my crypto. Throw in a good sharp knife with that.

[rtp]

Crypto is the devil!




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[RiverRat1]

Not Lamborghini money but I do enjoy trading it when I have the time. The last time I was buying in the 40s. I sold it all right at 60. Haven’t touched it since. My son still has all he bought between 1-2k. I gently suggested he might want to sell when I did but he wasn’t having it. He’s young so whichever way it goes he’ll be fine.

A lot of people have made a lot of money on crypto and a lot of people have lost a lot of money on crypto. Just like all other investments. There is a buyer thinking it will go up for every seller thinking it will go down.


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He needs a plan. BTC has always run 12-16x then falls 80%. It's ok to hold most.. But why not sell 10-20% and then load up even more after it tanks? Then he either ends up with a lot more BTC in the long run OR worse case BTC goes straight to the moon and he still has an 80% position without waiting decades

I'm about to start buying myself. Just can't decide if it's up from 16k area or if they will drop it down and hold it under 10k to make most people give up before running it back up.

[rtp]

He needs a plan. BTC has always run 12-16x then falls 80%. It's ok to hold most.. But why not sell 10-20% and then load up even more after it tanks? Then he either ends up with a lot more BTC in the long run OR worse case BTC goes straight to the moon and he still has an 80% position without waiting decades

I'm about to start buying myself. Just can't decide if it's up from 16k area or if they will drop it down and hold it under 10k to make most people give up before running it back up.

His plan is to hold until 500K. He's young,30, so he hasnt seen the things we have but he is paying attention. He admitted to me recently he should have sold some at 60ish like I suggested. He'll do better the next spike.

[jshouse]

Look back only 8 pages (to 2019 posts) like post 6627. FOMO is here now. I've been wrong before but the pattern has always been once true FOMO comes in that's the top. Once things go quiet it's safer to buy.

Yes, I understand things "could" be different this time for a couple of reasons. But one shouldn't trade/invest based on greed a FOMO. Trade off patterns that have always worked in the past.

Have fun. And FTR I still have some LTC in case I'm wrong. Sold all other crypto.

so where we going from $24k?

[RiverRat1]

so where we going from $24k?

Right now it's tough to tell. Two paths. I lean toward the first one but that may be because I want to buy more although it's what I've been saying all along.

1. Stock markets, commodities and crypto hit new lows over the next 2-6 months. FED raising rates still and markets, although down some, are not down nearly enough compared to last serious rate hikes. It takes time for higher rates to bring earnings down..They are coming down quick but IMO the last few hikes are not baked in.

So hopefully BTC comes back down close to 12-15k one last time.. If it gets below 20k I'll start buying there...maybe 10-20% of the total I want.


2. $15k was the bitcoin low. It stays here around 20-24k for a while then ramps hard again. I think this is possible only because there was extreme max fear around FTX so sellers may be done below 20k forever.


So there's a case for each.... I think 65% #1 happens but who knows. Also each down cycle usually last 2.5-3 years. This down cycle is about 15 months so far but it usually bottoms in the first half of the down cycle.

Clear as mud??