I just bought $200,000 of Bitcoin

[lkn]

9 minutes ago, happydreamer said:

My theory is that they want the retail hodl'rs  to dump their holding so that institutions can scoop it up at cheap prices and then be the ones in control of it

So you think institutional investors already hold enough crypto to crash the market, but they want more, and they want more because?

 

Also, many of the top holders of bitcoin are quite vocal about it, e.g. Michael Saylor holds 120,000 bitcoins, then you have Elon Musk (via Tesla), Nayib Bukele (president of El Salvador constantly tweeting about “buying the dip”), the Winklevoss twins, Marathon Digital Holdings (bitcoin mining company that mine ~10% of all blocks but use the mined coins as leverage for debt to finance their operations, rather than sell the coins), etc.

 

This also shows that bitcoin has nowhere near crashed, if any of the above people/organizations start to unload their coins then we will see a crash!

[happydreamer]

1 hour ago, lkn said:

So you think institutional investors already hold enough crypto to crash the market, but they want more, and they want more because?

 

Also, many of the top holders of bitcoin are quite vocal about it, e.g. Michael Saylor holds 120,000 bitcoins, then you have Elon Musk (via Tesla), Nayib Bukele (president of El Salvador constantly tweeting about “buying the dip”), the Winklevoss twins, Marathon Digital Holdings (bitcoin mining company that mine ~10% of all blocks but use the mined coins as leverage for debt to finance their operations, rather than sell the coins), etc.

 

This also shows that bitcoin has nowhere near crashed, if any of the above people/organizations start to unload their coins then we will see a crash!

Have you ever asked a rich person if they want more money?  Have they ever said, no I have enough I want to leave some out there for the less fortunate.  They want more for the same reason any human being wants more of anything.

 

I'm not clear what point you're making with the second paragraph.

 

My point is that if you shake out what anyone else has you can adjust price so that you can value buy.  Plain and simple.  I dont think its crashed in the sense that its going away however, in trading terms, "the gap has been filled and its value buy time"

 

[lkn]

8 minutes ago, happydreamer said:

Have you ever asked a rich person if they want more money?

But bitcoin has no value for a rich person, all they can do is to try to sell it to a greater fool. Much better ways to make actual money for a rich person.

 

Warren Buffet put it like this: Sell me all the farmland in the U.S. and I have recurring income from all the produce.

 

Sell me all the apartment houses in the U.S. and I have recurring income from all the rents.

 

Sell me all the bitcoin, and what could I do with it? I wouldn’t even pay you $25 for this.

 

11 minutes ago, happydreamer said:

I'm not clear what point you're making with the second paragraph.

I am just pointing out that there is a bit of transparency about who holds what (public blockchain, remember), so large institutional investors trying to crash bitcoin would unlikely go undetected.

[happydreamer]

5 minutes ago, lkn said:

But bitcoin has no value for a rich person, all they can do is to try to sell it to a greater fool. Much better ways to make actual money for a rich person.

 

Warren Buffet put it like this: Sell me all the farmland in the U.S. and I have recurring income from all the produce.

 

Sell me all the apartment houses in the U.S. and I have recurring income from all the rents.

 

Sell me all the bitcoin, and what could I do with it? I wouldn’t even pay you $25 for this.

 

I am just pointing out that there is a bit of transparency about who holds what (public blockchain, remember), so large institutional investors trying to crash bitcoin would unlikely go undetected.

Ya lost me dude.  Quoting a geriatric on the intricacies of blockchain and technology holds about as much value to me as bitcoin does to him

[lkn]

6 minutes ago, happydreamer said:

Ya lost me dude.  Quoting a geriatric on the intricacies of blockchain and technology holds about as much value to me as bitcoin does to him

It’s basic knowledge about productive and unproductive assets. The latter is only interesting if there is an end buyer, so money can be made from arbitrage, storage, or via seasonal demand (futures market).

 

Bitcoin is an unproductive asset without an end user.

[RafPinto]

2 hours ago, lkn said:

So you think institutional investors already hold enough crypto to crash the market, but they want more, and they want more because?

 

Also, many of the top holders of bitcoin are quite vocal about it, e.g. Michael Saylor holds 120,000 bitcoins, then you have Elon Musk (via Tesla), Nayib Bukele (president of El Salvador constantly tweeting about “buying the dip”), the Winklevoss twins, Marathon Digital Holdings (bitcoin mining company that mine ~10% of all blocks but use the mined coins as leverage for debt to finance their operations, rather than sell the coins), etc.

 

This also shows that bitcoin has nowhere near crashed, if any of the above people/organizations start to unload their coins then we will see a crash!

129218 BTC now.
Heavily leveraged and heavy under water.

[happydreamer]

4 minutes ago, lkn said:

It’s basic knowledge about productive and unproductive assets. The latter is only interesting if there is an end buyer, so money can be made from arbitrage, storage, or via seasonal demand (futures market).

 

Bitcoin is an unproductive asset without an end user.

Great.  This has been discussed and covered at length for nearly 30 pages in this post.  Not getting into it again.

 

I posted a theory I had that I came up with by watching movements in the USA stock market and connecting the dots to the crypto markets.  It doesn't have the feel good quotes of billionaires and geriatrics of the world everyone in this forum loves to attach to their posts.  It's mine.  My thinking, my idea, my misunderstandings and points that I'm probably missing. It was meant as the start of discussion down a different road in light of the recent adjustments in price.  Not to debate the value or lack thereof of BTC.

 

If you have anything to add thats in alignment with that Im happy to listen otherwise have a lovely day

[vidgra]

Wait a bit more, soon it will be valued close to ZERO....

[happydreamer]

2 minutes ago, vidgra said:

Wait a bit more, soon it will be valued close to ZERO....

you're basing this on??

[spidermike007]

Hope you had the good sense to sell out at $50,000. 

[GrandPapillon]

33 minutes ago, happydreamer said:

I posted a theory I had that I came up with

????

[GrandPapillon]

29 minutes ago, vidgra said:

Wait a bit more, soon it will be valued close to ZERO....

I might be buying then ????

 

[GrandPapillon]

19 minutes ago, spidermike007 said:

Hope you had the good sense to sell out at $50,000. 

https://twitter.com/i/status/1306636352025366529

[happydreamer]

1 hour ago, GrandPapillon said:

????

Whats funny? 

[dj230]

4 hours ago, happydreamer said:

Pure speculation here but I think this entire shakeout is contrived.  

 

My theory is that they want the retail hodl'rs  to dump their holding so that institutions can scoop it up at cheap prices and then be the ones in control of it.  Unlike paper money,  you can't make more BTC when it runs out.  If you take a look at who some of the largest holders of BTC are it's not YET all the institutions.  During this shakeout it causes people to panic sell flooding the market with assets.

 

There's a striking similarity between this and the Gold seizure of the Great Depression in the 1930 except since BTC is not controlled by any single government, its not ones country seizing it.  Its simply creating conditions that will cause the flood and then ultimately the buy up.  Doesn't mean its going to regain it's former prince tags...Curious to see what happens when it's institutionally owned 

What actually happened is UST /Luna turned out to be a Ponzi scheme which is falling apart and they’re liquidating their Bitcoin now.
 

This is just the beginning of people realizing all cryptos are ponzi’s and nothing is actually holding the value of cryptos up other than the next fool who buys it. 
 

Bitcoins price has no affect on its function as a vehicle to transfer money, as long as you convert your Bitcoin back to USD. 
 

I have to admit, congrats to the Bitcoin creater, he created a ponzi and made majority of the world fall for it. I wouldn’t be surprised if he was a trillionaire. 

Edited May 12, 2022 by dj230

[ozimoron]

USDT has also now lost its peg. Valued at 0.98c

 

abandon ship!

[dj230]

28 minutes ago, ozimoron said:

USDT has also now lost its peg. Valued at 0.98c

 

abandon ship!

Yup the bag holders are those who staked, all the cryptos will drop now leaving those who "staked" as the bag holders. Was pretty obvious the ponzi was falling apart when they introduced staking which is institutions "shorting" crypto while pulling more people into the ponzi by incentivizing them with a yield as they are needed to buy into the sellers. 

 

 

Edited May 12, 2022 by dj230

[Iamfalang]

Bitcoin was sooooo yesteryear.   NFTs old school.

 

I’m fully invested in —————-

 

think I’m telling anyone??   No way!!   I will when I need buyers and all these crypto geniuses are down to their last 10 baht saying I could’ve would’ve……..

 

YOLO……..make money!!     Soo easy

[KhunLA]

I was curious, OP posted 15 Feb 2022 ... in CADs, but USD chart

 

 

[mosan]

Mighty quiet on here. All the guys that were pumping crypto seem to have disappeared. Just askin'

[Sparktrader]

6 hours ago, vidgra said:

Wait a bit more, soon it will be valued close to ZERO....

$100,000 next year

[Sparktrader]

1 hour ago, mosan said:

Mighty quiet on here. All the guys that were pumping crypto seem to have disappeared. Just askin'

Cheap now

Buy fear

Sell greed

[ozimoron]

2 minutes ago, Sparktrader said:

Cheap now

Buy fear

Sell greed

By what measure is something that is valued at 10 times what it was a couple of years ago cheap?

[Sparktrader]

1 minute ago, ozimoron said:

By what measure is something that is valued at 10 times what it was a couple of years ago cheap?

Buy now

Sell in 2 years

 

Who cares what it was 10 years ago

 

10 years who most things were cheaper

[ozimoron]

3 minutes ago, Sparktrader said:

Buy now

Sell in 2 years

 

Who cares what it was 10 years ago

 

10 years who most things were cheaper

2 years

[Sparktrader]

1 minute ago, ozimoron said:

2 years

My view is it goes up.

Whats yours?

[ozimoron]

Just now, Sparktrader said:

My view is it goes up.

Whats yours?

I think it will approach 2017 levels before rising again. It was 4K in march 2020 so I don't get how 29K now is "cheap". I could be wrong but no asset class does that well and stays there.

[Sparktrader]

4 minutes ago, ozimoron said:

I think it will approach 2017 levels before rising again. It was 4K in march 2020 so I don't get how 29K now is "cheap". I could be wrong but no asset class does that well and stays there.

What was twitter 10 years ago?

[Sparktrader]

Shares go up 3000%. Come back 25% then rise

[Airalee]

2 minutes ago, Sparktrader said:

What was twitter 10 years ago?

Not publicly traded.