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I told you, scam is crumbling. Hope none of you good guys are getting hit to hard. Hope HC, SH, and SAC, and
phags like them have everything they own tied up in it.

LOL.

Yep, it's a Ponzi Scheme. We tried to warn folks.

I'll pick some up when it's a dollar a coin again.

Going to be a long time before I think about crypto

Ponzi scheme or not, plenty of investors made impressive fortunes from it. Wished I had been one.

I just bought some more. Bitcoin is never going away folks.

Lot's of people get rich from Ponzi Schemes. Even the one run by Ponzi himself. It's only the last people to get into it that get left holding the bag.

Fire on the Mountain... Run boys Run... Devils in the house of the ris'en Sun ... Chickens in the Hard drive pick'in Crypto... Granny do you Bitcoin... No Child No... Johnny lock up your Stow and play yer Fiddle Hard... There's a new thing they call Crypto and the Devil deals the Cards... If you win you get a shiny Fiddle of Fake Gold... But if you lose the Devil gets your Dough...

Blockchain currencies are a tool and not an investment. As a tool, crypto currencies are very useful. As an investment, it is a rollercoaster.

Unfortunately, many saw crypto as a get rich quick scheme. In the early days this was true. As the market has matured, not so much.

Chances are you will get another chance sometime after the "halving" in 2024. The bull markets revolve around the "halvings"....or certainly have in the past. This is simply that the fees in Bitcoin paid to the "mining companies" to maintain the blockchain get cut in half every 4 years, reducing the available supply they can sell. I guess you could say its rigged.....and that is to the upside over time with massive moves up and down.

You'll need to be watching it starting the middle of next year as everyone knows this and will try and front run the cycle.

Theoretically, It could go from a 12-15k bottom in 2023 to 100-150k in 2025-2026. Then, everyone will be calling for it to go to 1 million, and you'll need to be selling. Obviously, if everything goes to hell in a hand cart before then the prices will be different, but the halving will still happen putting upward pressure on the price. I guess people could totally give up in the idea of crypto but I doubt it.

Who bought a bunch at 60k?

I bet no one here will admit to it.

No, but there were several heavily pimping it about that time.

“Never take financial advice from a broke guy.”
Dave Ramsey

This advice has served me well through the years.

It's a technological commodity it is NOT money or a currency. It's "value" is based on scarcity.

Scarcity only provides value to something people want. Do you still want cryptocurrency? There is no legal recourse should your transaction go bad. If you lose your password/wallet key, what do you do? You only have access if you have power and an internet connection. Seems like a risk, given what may be coming.

As said before - if BTC was currency and being a finite amount (allegedly) If money supply is fixed - as BTC it would be - then interest rates would be free floating and market determined. All economies experience productivity growth, and all healthy economies experience real growth. Those gains are measured in nominal money, so nominal money must also grow over time. Therefore, if the money supply does not grow, then credit and monetary aggregate growth is restricted. Credit cannot exist unless it can make legitimate claim to settle in money. So, ultimately, too little money supply eventually causes funding and liquidity squeezes.

Here is how crypto works for many folks.

You need to pay someone $$$$ in a foreign county. You could go the traditional route and run to your bank, request a wire transfer, pay them for pleasure of doing business with them and then have your funds further eroded when converted to the landing currency AND wait a few days for the whole process to happen. So every transaction costs you 4%-6% depending.

OR

You can purchase crypto, pay a fee to your blockchain broker/exchange service then immediately transfer the funds to the destination account and save 70%- 80% on the banking and exchange rate. In addition, many services are not reporting your transactions. They are only reporting if you're using crypto for investment purposes and making capital gains. But there are ways to protect your privacy and gains if you're so inclined.

Celsius - head of lending is a porn star who was hired as a marketing intern and has no finance experience. Only prior experience (other than porn) was shoe designer.

Coinbase laying off 18% today as well.

But yeah - this is the "future" of finance. errr grift.

Bitcoin is still in the infancy stage. Took a while for the Indians to go from smoke signals to more modern ways of communicating too.

Anyone who thinks BTC is a "scam" or "going to a dollar" needs to get short enough on it that they can walk under a coffee table and make an easy fortune.

Were you left holding the Bitcoin bag?

Lol . . . . .bought in at 63 😁

Thats the worse analogy ever.

Where are the indians now ?

They got kilt by Johnny Gringo 😁

It's going there again.

Thanks! Some of them are taking Pale Face Gringos to the bank every day at their casinos.

Yea, but most of em are laying in a ditch drunk and broke.

Crypto is much like the Pet Rock craze. Unless one is using it to kill something, it has no value beyond perceived value - that is valuing a product's benefit higher than its function.

There was no reason why a $0.05 rock in a box $0.25 box should cost $4.00 but at its height, they were selling 100,000 a day. FWIW, the originals are now selling for $10.00. So there's still plenty of crazy in the world.

Did you make any money on it when it went from 20k to 60k? I did....via the stock plays that were piggybacking on it.....and learned a very little about crypto in the process. But you have no way of knowing that is true because I ain't showing you my trading records. Would it make you happy if I had I lost my money? Probably. Some people are like that.

It never ceases to amaze me that people will sit through massive moves and not make a dime and then when the trend reverses to the point that it is obvious to everyone will try to appear smart and say "we tried to warn you". Why didn't you warn us in late 2020 that it was fixing to take off?

But seriously, you need to be shorting it. Otherwise when it goes from 20K to 1 you make nothing by being right. So you will miss potential fortunes on the up and down side.

My crypto investment strategy is simple:

I put $5,000 into Bitcoin in early 2019 when it was valued at $4,100ish. When I doubled my initial buy-in in 2020, I took my $5,000 out and traded with the casino's money. Each month, I converted 20% to cash. When it fell in 2021, I didn't panic because it was the casino's money.

The second part of my investment strategy, is I let the experts do all the trading. They are better suited to trade between cryptos to pick up more value that simply riding the Bitcoin wave. Even during the downturn, I am still taking my 20%. As soon as the market stabilizes, I may for the second time put cash back in, but I will still be using the Casino's money to do so.

I feel sorry for the Johnny come lately guys who road the rollercoaster up only to see losses on their accounts. That doesn't make crypto bad, it only makes one's timing bad.

fortis Fortuna adiuvat - but it pays to know what you're doing.

historically, those that invest can afford to lose it.

Gopherit.. I wouldn't touch it at one CENT!

Traders betting against crypto stocks have raked in nearly $4 billion this year

https://finance.yahoo.com/news/cryp...ed-in-4-billion-this-year-134004038.html



Buy?

Hold?

Sell?

Short?

Eight words in that very smart sentence...

HARD COMMODITIES... PHYSICALLY HELD!

What hard commodities?

The ones you know how to use to make a living... or barter services with.

Babel is in trouble - same as Celsius was/is.

I'm not a fan of Gates but I tend to agree with him on crypto - it's not backed by any intrinsic value other than the hope that someone else wants it more than you did when you bought it. It doesn't create anything, there are no assets to back it up and there's no "faith and credit" of anyone/thing to back it up etc.

Can a person make money on Crypto - sure but how? Selling a coin to someone else for fiat dollars/yen/ruble/dinar/etc.

Would be interesting to know and I don't know if you'd ever be able to tell but who's sold a Bitcoin for a Doge or has it always been crypto for fiat?

Short MicroStrategy .. It may get a Margin Call Soon ..

Crypto is the future, but only when the fed controls it. The .gov will have more of an ability to control every aspect of your financial life than they already have.
Compliance or else.

Plenty of money made or lost….the volatility has been good for some of us. I view it no different than regular stocks….it’s a rigged game and you know it going in.

That's putting it mildly if they succeed in transitioning us to digital currency and outlawing any other form. Yes, they will know everything you do after that, and can freeze your ability to make purchases if they don't like your activities. Which is why we should reject it in no uncertain terms when they try it. Orwell's 1984 doesn't come close to describing the dystopia that would prevail if that were allowed to happen.

PS The government's digital currency would be anything but Crypto, since that word implies impossible to detect. The government's digital currency will be quite the opposite of Crypto.

Your right, I should have said digitized instead of crypto.

Babel stopped withdrawls today due to lack of liquidity.

So - do you "own" bitcoin if you can't move/use/spend or sell it?

Not really....

Yep. Just another Ponzi Scheme.

Exactly.

The smart ones packed their bags, went to Stanford or Harvard or such and.became Denists, and Doctors, and Lawyers.

He's talking feathers, you're talking dots.

Run forest run

Down to 18K, the house of cards is crumbling.

You got any other investment tips?

Bill Maher had a funny comment. He said that guy in the office who's always talking about Bitcoin is suddenly not talking so much.

I'm just pissed I didn't think up this scam 🤣🤣🤣

One thing I've learned over the past few years is nobody knows a damned thing. Do your own research if you think something sounds interesting or has potential, then make your bets and take your chances.

The best "experts" in the world get it completely wrong with regularity, so the chances that some random guy on an internet forum has got it nailed down is pretty slim. Some guys make a few lucky calls and then ride those into eternity, ignoring the multitudes of wrong calls they made along the way. Guys on the web will talk opine forever on things they know almost nothing about, and what they do "know" they heard from some other dude who also knows nothing.

Experts are idiots, just like the rest of us. The covid debacle should make that abundantly clear. Very few actually get it right, and are usually roundly denounced by the masses when they speak their minds. Seems to translate pretty well to "experts" in most other fields as well. Bitcoin and crypto might die. It also might be the future. Could possibly fall somewhere in between. Nobody knows, best you can do is learn as much as you can if you're interested, then place your bets and hope for thr best.

Buy in the dip, dipshit. I put 3% of my investments in crypto and like I said it ain’t going nowhere.

^^^hear him^^^ I always chuckle when I remember a gag some Wall St reporters dreamed up, maybe back in the late 80's. They charted the stock picks of the most respected investment advisors of the day...and they had a primate in a cage with different colored buttons he could push to get a peanut or some food prize. I think the colored buttons represented some randomly picked NYSE stocks. At the end of the year, the monkeys's picks outperformed the experts picks by 30% if I remember correctly. The Motley Fool had it's beginnings in a gag also.

Well it dipped a sheitload more, so you should buy the dip again. 😁

Good money after bad is a great investment strategy.

I work with a guy who did pretty well on the bitcoin ride. Coulda done better, but he listened to too many naysayers.

When bitcoin was around a dollar a dozen years ago, he bought 150 of them on a whim. His fiscally secure and supposedly wise dad ridiculed him and made fun of the concept until he tired of it and sold all of them for marginally more than he paid.

Around 5-6 years ago he renewed his interest, but prices had risen to the point where he couldn't afford to buy a bunch of it. He began buying individual coins and fractions of coins as available. As of 2-3 years ago, he was still bullishly buying and adding up his coins. One time about 3 years ago he shared with me that he owned 7.something coin. IIRC, at the time of the conversation a bitcoin was selling ~$7000.

Then the value of the stuff exploded, and he managed to use some of the funds available for a new kubota tractor and a complete remodel on his house.
But he was fixated on the stuff all of the time. On break at work, he'd be constantly on his phone checking on his bitcoin stash. Then one day a while back, he started the shift doing fine. After first break they found him laying on a workbench, holding his chest. Shipped him off to the hospital and he was having an anxiety attack.
And yup... One of the guys checked bitcoin price and the fall had begun...

I dunno if he just though the ride was gonna go on forever, or if he did something unfortunate counting on the ride lasting longer than it did. Haven't seen him or heard anything of him in a while now. But it's a big place and the same applies to half the guys I work with. I can go a year or more and not see someone.

Ooops, make it 17

I did.

Dollar cost averaging, right?

I knew commies and bankers hated Bitcoin. Why do conservatives?

Should have waited till tomorrow and you could have saved yourself a couple more thousand in losses.

Don't hate em, just believed from day one that they're a Pinzi scheme.

Same reason we dislike any fake currency. Its mere existence contributes to inflation, and distracts from the task of returning to a real money based economy, which is essential for truly free markets.

I bought more at 17.5+.
It’s a tiny portion of my big picture
and some think long term instead of this afternoon.
I have a metric shít ton of rimfire too….
but I have not bought 1 round in years.
Wouldn’t you rather buy in a bear than
join the sheeple at the peak?

If I find a firearm, ammo, components or piece of equipment underpriced,
I buy it. It almost always works out well. If you don’t think my thinking works, I’m cool with that. I will take my chances.

Crypto is less than beanie babies in long term value. At least beanie babies are a physical asset. Crypto is backed by nothing and has zero intrinsic value. It’s nothing but the latest ponzi craze. There will be fortunes made and lost in real currencies trading in crypto but like all mass psychosis people wake up and they go away. Last guy holding crypto will hold nothing.

I get what your saying, I'm just telling you that BTC at 17.5K is a far cry from being underpriced.

Dave, have you been last a lot?
You go heavy into Slick 50?






Just funnin ya. No worries.

Thanks for the tip, Bra.
If you are right, I’ll buy more.
PM me when you think the timing is right.
Thanks.

$18, 531
Sell?

Hey Eyeball,
Any Q drops on crypto?
Thanks in advance.
Slave

lol i lost about 2-3k$ last 6 months throught these crypto currencies.
Then i vow not to ever go near any crypto because there is a word "cry" at the beginning of the crypto lol.
I am very glad i sopped the crypto thing earlier else, i would have been thinking of suicide

Don’t tell Burns that Russia is making money.

We should buy our Russian oil with crypto…….

It’s a vapor
Phantom nothing
Ponzi scam…

We win.

Wait till it's a penny, then buy a couple bux worth... At least you won't lose yer azz....

Rather simple.

You go to a Bitcoin ATM and draw your money out.

coinatmradar.com

You sound a little bit like ‘Satoshi’.
Have you read the white paper?

Only one way to settle this – who has more Porsches?

Nice little weekend gain if you picked up any under 18 K.

^^^^^ Well said. ^^^^^

🤣 Picked up a coin at 17.8 over the weekend.

Yes, it is a zero sum game. Every dollar won there is a corresponding dollar lost. A wealth transference scheme.

Those that can’t /won’t see the value of decentralization and block chain technology are missing the boat. I wont throw sticks at you for not getting involved so just shut the fuq up about those of us that are able to see the value.

Block chain technology is legit. Crypto is not.

A few months ago I finally feel like I understood Bitcoin... the Canada bank debacle got me thinking hard about it, thought about buying some, my gut told me no.
Glad I didn't.
I can see the value of the blockchain and money outside of the Western banking system.
Seems as though the speculators have caused a lot of volatility.
If it's to serve as an alternative method of saving earnings seem to me a little more stability is needed.

Thanks. That holds so much value to me.

Plus, the economy will collapse under the Dims.

When it does, how low does Bitcoin go? I dont know, but I know a lot lower.

Better sell that mf'er quick, it's taking a sheit again. Hurry up, buy some more. 😁

I will get some at some point. Almost bought at 40k for fear of missing out. Now it will purely be a speculative play.

Seems odd that 600 billion dollars leaves the Bitcoin market, and gold stays at $1840.

Rich folks post here and tell everyone how to become rich.

Lol

Only down another 1260.00 today, but it's early.

Digital currency is a fact of life and is here to stay.

The SEC ( not the southeastern conference) is composing the playbook as we speak.

The big international banks are involved and using crypto.

Ain’t going away.

Just beware, very beware of using Crypto Bridge Services that facilitates swapping over from one type to another. There be dragons, Boys.

Love your comedy act on here ol Toot. Didn't you predict a big stock market come back in May. lol

To the top 🤣🤣🤣

I have a friend from high school that went all in about 8 years ago and begged me to do the same. He's worth over 200 million now and I'm not. Wife said go for it but I hesitated figuring my thumb drive would break or computer would crash I didn't realize at tge time you could print the codes on paper and put them in the safe. My bad luck with tech scared me off.

Bb

Man! And I was thinking my Total Stock Fund had taken a hit.

For posterity’s sake.

Buying opportunity.

Cryptocurrency is a tool and not an investment or a true value-based currency. Yes folks have made money buying and holding cryptocurrency but it is now a massively volatile market. If you decide to invest in it at this point in time be prepared to be either really happy or really sad. With the economy headed south, my bet would be the crypto market will follow suit.

One thing is certain, while there are more than 12,000 cryptocurrencies, the main players are here to stay and we will see more integration into markets as the technology matures and is more widely accepted.

Now, show us the last 18 months 😁