BITCOIN

Weather Man

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Wouldn’t think it would bounce up at all..

a country spent $20 million in 48 hours.. kicked the price wayyyy up. So.. sell off happened..

probably huge margin calls…. This is why copy paste doesn’t work for learning things lol

Sure, the Reddit crowd had no effect on the meme stocks.

20 million is peanuts, try again.

I think more likely institutional investors aren't interested in playing in the same pool as meme investors.
 

CompOrange04GT

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Sure, the Reddit crowd had no effect on the meme stocks.

20 million is peanuts, try again.

I think more likely institutional investors aren't interested in playing in the same pool as meme investors.

let’s pretend like within 2 hours of El Salvador saying what they did.. it didn’t go up from 50 to almost 53k

keep reading your links and not participating in actually doing it.. we will take what you know as fact
 

Weather Man

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let’s pretend like within 2 hours of El Salvador saying what they did.. it didn’t go up from 50 to almost 53k

keep reading your links and not participating in actually doing it.. we will take what you know as fact

You keep pretending to have a clue and I will keep posting clues for the interested.
 

Weather Man

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I wonder if people are looking at the proposed Biden capital gains tax and taking some of their long term winnings at an attractive BITCOIN price level while the taking is good?

Coinbase aware of elevated rates of delayed, cancelled transactions
  • As cryptocurrencies drop, Coinbase Global (COIN -3.9%) reports that transactions are "currently delayed or cancelled at elevated rates and our apps may be experiencing errors."
  • The operator of the crypto exchange app said it's investigating the issue and will provide updates as it knows more.
  • According to CoinMarketCap, bitcoin volume of $60.7B over the past 24 hours is up 66%.
  • The increased crypto activity and slump in prices come as El Salvador's move to make bitcoin legal tender takes effect.
 

Rb0891

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I wonder if people are looking at the proposed Biden capital gains tax and taking some of their long term winnings at an attractive BITCOIN price level while the taking is good?

Coinbase aware of elevated rates of delayed, cancelled transactions
  • As cryptocurrencies drop, Coinbase Global (COIN -3.9%) reports that transactions are "currently delayed or cancelled at elevated rates and our apps may be experiencing errors."
  • The operator of the crypto exchange app said it's investigating the issue and will provide updates as it knows more.
  • According to CoinMarketCap, bitcoin volume of $60.7B over the past 24 hours is up 66%.
  • The increased crypto activity and slump in prices come as El Salvador's move to make bitcoin legal tender takes effect.
Would think those same people would be looking at their stock holdings as well. Doesn't seem so yet, though.
 

Weather Man

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Would think those same people would be looking at their stock holdings as well. Doesn't seem so yet, though.

I dunno, I would think anyone holding a stock with a hockey stick graph would be thinking pretty damn hard along with any stock bought this spring.

Of course, it depends on why you bought, any dividend paying stock bought covid cheap has a pretty awesome yield right now compared to current price levels.
 

CompOrange04GT

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No, but does BTC become a meme stock if Reddit users can influence the price? And if they can, what are the implications good or bad?

this is why… the Bitcoin thread isn’t for you.. the fact that you think a form of worldwide currency is a meme is honestly hilarious
 
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Weather Man

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this is why… the Bitcoin thread isn’t for you.. the fact that you think a form of worldwide currency is a meme is honestly hilarious

Why would I think BTC is a worldwide currency when the VAST majority of people holding it view it as an investment vehicle and NOT a currency?

And, it doesn't matter what I think it is, it matters what the investment community thinks it is based on how successful Reddit becomes at moving BTC price and that is yet to be determined.

You consistently misinterpret what I write, maybe you should stop while you're behind.
 

nxhappy

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but you must ask yourself: why are many millionaires heavily invested in crypto? They must believe it will make them money, right ?
 

Weather Man

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but you must ask yourself: why are many millionaires heavily invested in crypto? They must believe it will make them money, right ?

A crypto, company or anything can make people money. Some people get lucky and some are smart enough to ride the wave. The tricky part is the dismount, some people get lucky and some people can read the tea leaves and some get stuck holding the bag.

As long as their are more people that want crypto than don't want it, the party carries on.

I applaud everyone here that is making money off of crypto. If I felt I could determine a entry and exit point for getting into crypto, I probably would get a stake. I have looked at ways to do that multiple times.

I do think crypto will be used extensively in personal finance, it remains to be seen how that plays out. As a private fiat currency, I just do not see the nation states allowing it. I also think VISA/MC/AMEX and such are waiting to see how they are threatened and then responding with their deep pockets.

I just fundamentally feel it is being driven by excess liquidity and irrational exuberance, and many are just fine investing in that situation, I have no interest at this point in my investing life. I played that game during the first tech boom and got lucky.
 

CompOrange04GT

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A crypto, company or anything can make people money. Some people get lucky and some are smart enough to ride the wave. The tricky part is the dismount, some people get lucky and some people can read the tea leaves and some get stuck holding the bag.

As long as their are more people that want crypto than don't want it, the party carries on.

I applaud everyone here that is making money off of crypto. If I felt I could determine a entry and exit point for getting into crypto, I probably would get a stake. I have looked at ways to do that multiple times.

I do think crypto will be used extensively in personal finance, it remains to be seen how that plays out. As a private fiat currency, I just do not see the nation states allowing it. I also think VISA/MC/AMEX and such are waiting to see how they are threatened and then responding with their deep pockets.

I just fundamentally feel it is being driven by excess liquidity and irrational exuberance, and many are just fine investing in that situation, I have no interest at this point in my investing life. I played that game during the first tech boom and got lucky.

You literally have said this 75 times
We get it … you are scared to get into it.. even with free money
 

nxhappy

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A crypto, company or anything can make people money. Some people get lucky and some are smart enough to ride the wave. The tricky part is the dismount, some people get lucky and some people can read the tea leaves and some get stuck holding the bag.

As long as their are more people that want crypto than don't want it, the party carries on.

I applaud everyone here that is making money off of crypto. If I felt I could determine a entry and exit point for getting into crypto, I probably would get a stake. I have looked at ways to do that multiple times.

I do think crypto will be used extensively in personal finance, it remains to be seen how that plays out. As a private fiat currency, I just do not see the nation states allowing it. I also think VISA/MC/AMEX and such are waiting to see how they are threatened and then responding with their deep pockets.

I just fundamentally feel it is being driven by excess liquidity and irrational exuberance, and many are just fine investing in that situation, I have no interest at this point in my investing life. I played that game during the first tech boom and got lucky.
The government is already looking into it's own crypto / digital currency. Once that happens, say goodbye to the physical dollar. You just saw in the above example, people already using crypto for goods and services. If the gov't really wanted to, they would have shut down bitcoin years ago. But guess what, it's not possible to shut down because Defi isn't controlled by the banks. It's all binary. They can't touch it, they can only tax it. And uncle sam LOVE's capital gains. Another point: nobody believed in the internet. Many frowned upon those stocks, including Amazon. Can crypto go to zero ? Sure, but so could any large cap stock. If you want little risk, you can get interest on a stable coin, USDC, and get 9%. The coin never moves, and you get 9%. Boomers be luvin that shit like white on rice. If you are intimidated by coins, treat it like a small cap stock. Invest 10-20% overall portfolio. That is what I advise.
 

nxhappy

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You literally have said this 75 times
We get it … you are scared to get into it.. even with free money
I will admit, I WAS scared. I am used to less volatility. But once you understand Defi, and the morals of it .....I was hooked. **** the banks. **** the govt. The binary chain of crypto is the best idea the founders have ever created. The best part is .....we ALL know everything is going digital. Ever since the late 90s we have seen this progression. Any one with half a brain can see the physical dollar is going to be obsolete. Don't get me wrong, I love my stable stocks, the SP500, the dividends. But that small percentage should be crypto. You gotta roll the dice to make the big bucks. Sooooo many millionaires just off of Doge alone. If crypto is a scam, if it goes to zero, I will strip off all of my clothes, and run to the grocery store naked.
 

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