BITCOIN

Weather Man

Persistance Is A Bitch
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Bitcoin's wild ride gives traders no rest on Sunday
  • Bitcoin's (BTC-USD) wild swings continue through the weekend, taking a downturn on Sunday, sliding to as low as ~$31.1K.
  • In the past 24 hours, the world's largest crypto drops ~13% to $32.9K as of 2:22 PM New York time.
  • One metric gauging implied volatility on bitcoin, similar to the U.S. stock market's VIX index, topped 130, Bloomberg reported, exceeding the VIX's all-time high.
  • The slump extends a volatile week for bitcoin, during which China and the U.S. in different ways vowed to tighten cryptocurrency regulation and Elon Musk tweeted statements that appeared to condemn then support bitcoin.
  • Ethereum (ETH-USD) drops 16% to $1,292.20, dogecoin (DOGE-USD) falls 13% to 29 cents, Binance Coin (BNB-USD) slides 25% to $231.46, Cardano (ADA-USD) slumps 21% to $1.16.
  • See why SA contributor The Value Trend views now as the time to add more bitcoin.
 

svtfocus2cobra

Opprimere, Velocitas, Violentia Operandi
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Guess what? This happened in 2018 and I got scared and pulled my money out thinking it was all over. Wrong! It was back up 2-3 years later and here I am back in and bought in behind the curve from where I initially was. I should have stayed in it the whole time.
 

Weather Man

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you were offered FREE money and made EVERY excuse not to use it..

but sure..

Which would now be $60, if I had taken the offer up, how good is that supposed to feel? China and other countries are putting their finger on the scale now. While I am not opposed to blowing a $1,000 of my own money to learn new and interesting things, I don't have a $1,000 to blow because I don't pay attention.

The bet actually tweaked me to look at crypto as an investment and even set up an account. But for me, the more I dug, the less appealing it became. The fact that their are 5,000 to 10,000 crypto's tells me that companies that really need crypto for any of its uses, are developing their own. And every "moat" crypto advocates claim will power their coin to dominance appears illusory, at best, to me.
 

CompOrange04GT

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Which would now be $60, if I had taken the offer up, how good is that supposed to feel? China and other countries are putting their finger on the scale now. While I am not opposed to blowing a $1,000 of my own money to learn new and interesting things, I don't have a $1,000 to blow because I don't pay attention.

The bet actually tweaked me to look at crypto as an investment and even set up an account. But for me, the more I dug, the less appealing it became. The fact that their are 5,000 to 10,000 crypto's tells me that companies that really need crypto for any of its uses, are developing their own. And every "moat" crypto advocates claim will power their coin to dominance appears illusory, at best, to me.

so the ZERO you invested would now be $60?

Oh okay. Got it.
 

Weather Man

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Absolutely time to buy. If this scares you away you don’t understand crypto.

Really? tweets move it 10% or more. Do you really think China, EU or USA will allow a product that can allow untrackable transactions?
 

Weather Man

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Do you really think the money I made was a fabricated lie?

No, and I previously stated hats off to all the guys who made money. Notice I said, made money, because none of the guys who bought at the peak are bragging about their crypto position. The powers let crypto run to see what would happen. New crypto's are flooding in and the powers are further limiting it.
 

Weather Man

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he’s like the guy at the bar who never played a sport in his life, yelling at football coach on the tv for their play calling

No, I'm the guy who retired in his mid 50's with the nice house, nice bank account, nice brokerage account and nice shed with a built GT and Hellcat. I play the game of life well.
 

mysticsvt

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No, I'm the guy who retired in his mid 50's with the nice house, nice bank account, nice brokerage account and nice shed with a built GT and Hellcat. I play the game of life well.
I would think playing with a small percentage of crypto would be entertaining for you then. You act as if we threw our life savings at it. I also played pretty well, house appraised at 400k, have two beautiful vehicles also. But I only have about 5% in crypto. Just enough to enjoy the game.
 
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Weather Man

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I eoukd think playing with a small percentage of crypto would be entertaining for you then. You act as if we threw our life savings at it. I also played pretty well, horse spots used at 400k, have two beautiful vehicles also. But I only have about 5% in crypto.

Never said that, young guys taking a full position is completely reasonable. My take all along that crypto is a highly speculative trade with high risk. With something this volatile, the big boys have all the advantage, I don't like playing with such a disadvantage.
 

mysticsvt

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Curious, if you put a 1000 in Bitcoin and a 1000 in Gold 8 years ago which would be higher in value today.
 

Kornilov

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Absolutely time to buy. If this scares you away you don’t understand crypto.

Crypto is on sale. If you believe crypto has a future, you are an absolute fool not be buying right now And by buying I mean hoarding everything you can with every spare dollar that you can afford to lose.
 

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