I just bought $200,000 of Bitcoin

[Neeranam]

1 minute ago, jvs said:

Sorry ,i just don't get it.If you are in the know as you claim to be then why

not sell at the height  and buy back now?

Is that not what investing is all about,making money?

 

I did take profits near the top. Obviously didn't time it perfectly. 

You are correct. 

[bbi1]

15 hours ago, Neeranam said:

 60% drop is normal in Crypto, selling would be a stupid thing to do. 

An 80% drop in the value of Bitcoin is very normal too. In other crypto, going to $0 is very normal.

[Neeranam]

2 hours ago, bbi1 said:

An 80% drop in the value of Bitcoin is very normal too. In other crypto, going to $0 is very normal.

80% is not much if you take the large rises into account. 

 

In the last 10 Years, the Bitcoin (^BTC) Commodity obtained a 115.15% compound annual return, with a 181.29% standard deviation.

 

http://www.lazyportfolioetf.com/etf/bitcoin/

Edited November 26, 2022 by Neeranam

[bbi1]

32 minutes ago, Neeranam said:

80% is not much if you take the large rises into account. 

 

It is for the people silly enough to buy at the top of the cycle ????

[Neeranam]

42 minutes ago, bbi1 said:

It is for the people silly enough to buy at the top of the cycle ????

Only if they sell before it rises again. 

[ozimoron]

This could also mean a collapse in confidence in Coinbase and other exchanges. Normally, however the theory would be correct. This on chain metric is one of the most watched indicators for BTC.

 

On Nov.24, 50,000 BTC were withdrawn from Coinbase. The amount equated to over $800 million at the time, which marked the second-largest BTC withdrawal from Coinbase in 2022. The next day, on Nov. 25, another 50,000 BTC withdrawal took place, which equates to over $825 million at the time of writing.

 

Considering that Coinbase is preferred mainly by large U.S. institutions, it can be said that they are taking advantage of the affordable prices and accumulating BTC, as the on-chain data indicates that the bottom of the bear market cycle might be near.

 

https://cryptoslate.com/bitcoin-worth-1-5b-withdrawn-from-coinbase-in-48-hours/

 

 

[Phnom Penh Trader]

The whole problem with Bitcoin and cryptocurrencies in general isn't the product it's the halfwit,beanbag-sleeping,commune-living,trustafarian,lefty kids running the exchanges!

All trust and credibility has now been lost because of them and it will be very difficult to regain?

[ozimoron]

2 minutes ago, Phnom Penh Trader said:

The whole problem with Bitcoin and cryptocurrencies in general isn't the product it's the halfwit,beanbag-sleeping,commune-living,trustafarian,lefty kids running the exchanges!

All trust and credibility has now been lost because of them and it will be very difficult to regain?

I don't believe it's at all political. If investors sense 100x or 1000x gains to be made again, they'll all jump in again.

[Sametboy2019]

31 minutes ago, Phnom Penh Trader said:

The whole problem with Bitcoin and cryptocurrencies in general isn't the product it's the halfwit,beanbag-sleeping,commune-living,trustafarian,lefty kids running the exchanges!

All trust and credibility has now been lost because of them and it will be very difficult to regain?

That's why we will more likely see more exchanges go down.

Regulations will be made and this ecosystem will most likely be handed over to some other custodians like JP Morgan or someone of that ilk.

[ozimoron]

5 minutes ago, Sametboy2019 said:

That's why we will more likely see more exchanges go down.

Regulations will be made and this ecosystem will most likely be handed over to some other custodians like JP Morgan or someone of that ilk.

Both propositions are wildly improbable. BTC is no different to any other speculative asset class, like gold. Its literally impossible for any person or company to be a custodian of the BTC blockchain.

Edited November 28, 2022 by ozimoron

[Celsius]

Sailor explained this so well. I think he's a bit delusional with Bitcoin, but he's definitely smart enough to explain the scam in simple terms. Got some respect for him. Might even buy some Bitcoin.

 

 

 

Edited December 6, 2022 by Celsius

[Lacessit]

On 11/28/2022 at 10:25 PM, ozimoron said:

Both propositions are wildly improbable. BTC is no different to any other speculative asset class, like gold. Its literally impossible for any person or company to be a custodian of the BTC blockchain.

IMO gold is not a speculative asset, it's a hedge against inflation and currency debasement.

It's impossible for the gold price to fluctuate as wildly as bitcoin, and it is solid, not some stream of organized electrons in cyberspace.

I have never lost money buying and selling gold over 30 years. I am damn sure I would lose my shirt on crypto.

[lkn]

1 hour ago, Celsius said:

Sailor explained this so well. I think he's a bit delusional with Bitcoin, but he's definitely smart enough to explain the scam in simple terms. Got some respect for him. Might even buy some Bitcoin.

Most of what Sailor say is pure nonsense, but he is good at throwing numbers around, which impress people.

 

Though In the above clip he does actually say a lot of sensible things, but he is also just speculating.

 

It seems clear that FTX and Alameda Research just spent customer funds with no record keeping, so talking about under-collateralized loans is actually given SBF too much credit.

 

I mean, SBF bought $15M worth of real estate in his parents name and said “oops… that was a typo, should have said FTX” (as it was paid for by company funds).

[Neeranam]

Hang in and HODL there, the wealth is coming. 

[Neeranam]

The charts show that BTC will reach $50-60,000 in 3 months or less. You'll be laughing soon. 

[Neeranam]

It's not even a year since you bought. Even if you buy at the cycle high, if you wait 3 year you can easily increase your wealth by x5 or so.

[2009]

1 hour ago, Neeranam said:

The charts show that BTC will reach $50-60,000 in 3 months or less. You'll be laughing soon. 

Lol, alright Gandalf.

 

You might as well read tea leaves or go to an Indian astrologist.

[Neeranam]

5 hours ago, 2009 said:

Lol, alright Gandalf.

 

You might as well read tea leaves or go to an Indian astrologist.

What are you talking about? 

I'm talking about TA. 

 

[Yellowtail]

2 hours ago, Neeranam said:

What are you talking about? 

I'm talking about TA. 

 

He's talking rubbish. 

 

Now is the time to BUY and BUY and BUY!!!!!!!!!!!!!!!!!!!!!!!!!

[ozimoron]

9 hours ago, Neeranam said:

The charts show that BTC will reach $50-60,000 in 3 months or less. You'll be laughing soon. 

That didn't age well.

[Neeranam]

12 hours ago, ozimoron said:

That didn't age well.

Pardon me? 

[ozimoron]

50 minutes ago, Neeranam said:

Pardon me? 

BTC didn't just lose $1k yesterday?

[Neeranam]

2 hours ago, ozimoron said:

BTC didn't just lose $1k yesterday?

Not when you wrote 'didn't age well'.  

 

Anyways, I was talking about the projected price in 3 months, which is more than double now. I know you won't like it, but it is what it is. 

 

Btw, when did you first hear about Bitcoin?

 

 

Edited January 31, 2023 by Neeranam

[In Full Agreement]

On 2/15/2022 at 4:11 PM, DezLez said:

Are you posting to boast you can afford to write off the money or to tell us about your mental health?

.

I lean towards the boasting option but the mental health option is a close second.

 

 

[ozimoron]

59 minutes ago, Neeranam said:

Not when you wrote 'didn't age well'.  

 

Anyways, I was talking about the projected price in 3 months, which is more than double now. I know you won't like it, but it is what it is. 

 

Btw, when did you first hear about Bitcoin?

Yes it had, that's why I wrote it.

 

I don't care what the price of bitcoin will be 3 months from now. I'm not anti crypto by any means. I just think it's going down like stocks in the near future, just my opinion, not based on any personal biases because I don't have any. I have invested in crypto in the past and will again in the future.

 

I first heard about crypto when it was first developed, sometime around 2014.

[ozimoron]

Gold is taking a dump right now. If it closes the day below $1916 there could be trouble.

[RAZZELL]

On 11/26/2022 at 2:14 AM, Neeranam said:

The charts say Jan, 23. As there's bullish divergence on the weekly, now is a great time to buy. 

How did that pan out? Did you buy? It's up 35% on the month.

 

 

Edited January 31, 2023 by RAZZELL

[Neeranam]

30 minutes ago, RAZZELL said:

How did that pan out? Did you buy? It's up 35% on the month.

 

 

Yes, I have been Dollar Cost Averaging since it went under $19k.

 

Like I said many times, $16k was a great price to buy back in November last year.

 

If you DCA into Bitcoin, it's a winning play. I wish I had started doing it before 2016. 

[Neeranam]

1 hour ago, ozimoron said:

Yes it had, that's why I wrote it.

18 hours ago(when you wrote that), the BTC price was $23,100. It started yesterday at $23, 600.

 

I assume you mean it dropped $500.

 

You're not the first to spread FUD on bitcoin lol

 

 

 

Edited January 31, 2023 by Neeranam

[Neeranam]

On 11/26/2022 at 4:05 PM, bbi1 said:

An 80% drop in the value of Bitcoin is very normal too. In other crypto, going to $0 is very normal.

Maybe you know more about crypto than most but out of interest, can you name a top say 100 coin that has gone to zero. 

If it is normal, you'll have no problem naming  a few of them.