I just bought $200,000 of Bitcoin

[ukrules]

13 minutes ago, Celsius said:

 

He was advising people to mortgage their house at 60k and buy Bitcoin.

 

It's irrelevant at what price someone bought something. The bad actors are being flushed out and he will be one of them.

 

Oopps while I was typing this Bitcoin went down another thousand bucks. That margin call will be knocking....

I really doubt that Saylor will ever be liquidated. Time will tell.

[Inala]

On 6/17/2022 at 8:35 AM, SAFETY FIRST said:

I bought my first 10 BTC back in 2015 for 1200 baht ea.

 

Looking forward to buying some more BTC when the price comes down.

 

 

Why didn't you sell them when it was at $90k or so? You would have been sitting pretty with that. 

[Mac Mickmanus]

6 minutes ago, Inala said:

Why didn't you sell them when it was at $90k or so? You would have been sitting pretty with that. 

It is going to be worth a 1 Million $ in 2024

[Mac Mickmanus]

The price of Bitcoin is now lower than what is was five years ago

[patman30]

On 5/13/2022 at 6:10 PM, happydreamer said:

I always thought it was because we had the gold reserves.  Someone more intelligent on the subject may be able to speak more about this.

gold reserves........LOL
not for a very long time
the gold standard was completely eneded in 71, coincidently the same year the WEF was formed.

the fed WAS on fractional reserve
but for those that don't know
while everyone was distracted
The federal reserve has been on ZERO reserve (yes you read that correct)
since March 26th 2020

"As announced on March 15, 2020, the Board reduced reserve requirement ratios to zero percent effective March 26, 2020.  This action eliminated reserve requirements for all depository institutions."
source: fed website
 

Edited November 9, 2022 by patman30

[Walker88]

btc went up because it went up. When it became more boring than a Savings Bond or the game called soccer, it lost its draw to the taxi drivers and Starbucks' baristas who had begun piling in when it was a rocket ship to the moon on the way to a gazillion. The only people still buying it were the disciples and cult members, or the people who were already wildly long. It turns out big holders and fanboys were defending their position by borrowing money to buy it and pledging their various coins as collateral. Uh oh!

 

As the QAnon-ers say, "Where we go one we all go".

 

As one Ponzicoin began to fall, collateral was worth less, so other coins had to be sold. A vicious spiral began (again---like from $40K and $30K), and it now seems likely that there was dipping into customer accounts at the various 'safekeeping' exchanges. Thus, $21K last week has become $15.8 this week.

 

Expect to now hear two sad refrains from diehard fanboys:

 

1) "You haven't lost if you haven't sold"

 

2) "I bought at $xxx, so I'm still way ahead"

 

HINT: If we get a deceased feline counter reaction, and then we hear recommendations from the likes of cathie woods or michael saylor, it means next stop <$10K.  If they 'pound the table' with their recommendation, it's Pets.com 2.0

 

In Ponzistan, it's Plus ça change

Edited November 10, 2022 by Walker88

[Neeranam]

1 hour ago, Mac Mickmanus said:

The price of Bitcoin is now lower than what is was five years ago

And? 

It's 4x what it was in march 2020. 

Its what bitcoin does. 

 

[Neeranam]

I just bought more bitcoin. 

Sold a house recently and was waiting for this level. 

[Neeranam]

44 minutes ago, Walker88 said:

btc went up because it went up. When it became more boring than a Savings Bond or the game called soccer, it lost its draw to the taxi drivers and Starbucks' baristas who had begun piling in when it was a rocket ship to the moon on the way to a gazillion. The only people still buying it were the disciples and cult members, or the people who were already wildly long. It turns out big holders and fanboys were defending their position by borrowing money to buy it and pledging their various coins as collateral. Uh oh!

 

As the QAnon-ers say, "Where we go one we all go".

 

As one Ponzicoin began to fall, collateral was worth less, so other coins had to be sold. A vicious spiral began (again---like from $40K and $30K), and it now seems likely that there was dipping into customer accounts at the various 'safekeeping' exchanges. Thus, $21K last week has become $15.8 this week.

 

Expect to now hear two sad refrains from diehard fanboys:

 

1) "You haven't lost if you haven't sold"

 

2) "I bought at $xxx, so I'm still way ahead"

 

HINT: If we get a deceased feline counter reaction, and then we hear recommendations from the likes of cathie woods or michael saylor, it means next stop <$10K.  If they 'pound the table' with their recommendation, it's Pets.com 2.0

 

In Ponzistan, it's Plus ça change

Another one who missed the boat, desperately waiting for a BTC fall to try to convince himself he vwas correct NOT to buy BTC in 2012 when it was $100. ????

Fanboys, Ponzis, always the same predictable words. 

Do us all a favour and buy gold if you can't handle risk. 

 

[steven100]

[Neeranam]

49 minutes ago, steven100 said:

Are you buying now?

[steven100]

3 minutes ago, Neeranam said:

Are you buying now?

nope ... I think it'll go lower yet .....    imo

[Neeranam]

22 minutes ago, steven100 said:

nope ... I think it'll go lower yet .....    imo

I just bought. What level do you think will be the bottom?

What price will you buy? You seem to follow the price closely. 

Edited November 10, 2022 by Neeranam

[steven100]

To be honest Neeranam I don't know enough about BTC and for me it's just too risky to recover at my age. 

Having said that I have ASX stocks that are doing just as bad .....  so let's just cross our fingers and prey. haha

But the BTC 1YR chart looks awful ....  let's hope it doesn't drop into the 20,000's because that looks dangerous if compared to the 5yr.    

But you may be correct ....  it may move on up from here .... it's difficult to say  !!   good luck. 

 

 

 

 

 

Edited November 10, 2022 by steven100

[steven100]

It has jumped almost 5% today off it's lows ... 

[Neeranam]

3 hours ago, Walker88 said:

btc went up because it went up. When it became more boring than a Savings Bond or the game called soccer,

It's 'football' and the most popular game in the world, by a long way. Billions will watch the next World Cup, which is open to all countries, even the ones who are <deleted>, like the US, unlike them who have a World Series that only Yank teams play in lol.

 

BTC will continue to go up. 

 

I've no idea why people post on thread about BTC when they don't like it. I would never buy stocks and certainly wouldn't go on a thread about them when they go down and try to tell people they are foolish buying them, insane. 

 

What price was BTC when you first heard about it?

 

[Neeranam]

5 minutes ago, steven100 said:

To be honest Neeranam I don't know enough about BTC and for me it's just too risky to recover at my age. 

Having said that I have ASX stocks that are doing just as bad .....  so let's just cross our fingers and prey. haha

But the BTC 1YR chart looks awful ....  let's hope it doesn't drop into the 20,000's because that looks dangerous if compared to the 5yr.    

But as I said you may be correct ....  it may move on up from here .... it's difficult to say  !!   good luck. 

 

 

 

Thanks. 

 

It takes a while for most to understand the bitcoin price movement. It could go down but the price will definitely go to new all time highs in 18 months after the halvening. 

 

I can wait a couple or more years, so it's really a no-brainer whether to buy or not. 

 

Exactly the same thing I said 4/5 years ago. 

[Neeranam]

[ukrules]

2 hours ago, Neeranam said:

but the price will definitely go to new all time highs in 18 months after the halvening

I'm pretty sure most people have no idea what a halvening is including those who continue deride Bitcoin.

 

The problem is not Bitcoin, it's the 1000's of scammers who got in on the act to create all sorts of what I'm going to deem securities.

 

There are so many of them and nearly every single one of them are pure drivel.

 

You can make good profit from trading pure drivel though.

 

[Neeranam]

7 hours ago, ukrules said:

I'm pretty sure most people have no idea what a halvening is including those who continue deride Bitcoin.

 

The problem is not Bitcoin, it's the 1000's of scammers who got in on the act to create all sorts of what I'm going to deem securities.

 

There are so many of them and nearly every single one of them are pure drivel.

 

You can make good profit from trading pure drivel though.

 

I guess their traditional stocks are low and they are hurting. 

 

Wish I'd bought more at $16,200. As you know, they upside compared to the downside is absolutely massive. 

As the house sold was half-owned by my wife, I couldn't buy more! 

[Sparktrader]

14 hours ago, Mac Mickmanus said:

The price of Bitcoin is now lower than what is was five years ago

Look at Eth

[Mac Mickmanus]

2 minutes ago, Sparktrader said:

Look at Eth

Lost about 70 % of its value in one year

[Neeranam]

9 minutes ago, Mac Mickmanus said:

Lost about 70 % of its value in one year

This is what it has always done after a bull run. Usually more actually. The only ones who get burned are those who don't research the market. 

[Sparktrader]

9 minutes ago, Mac Mickmanus said:

Lost about 70 % of its value in one year

Up since early 2020. Im ahead. I like ETH and gold plus iron ore soon. Gold low looks in. Iron ore low in next few months.

 

Btc is overrated.

[Sparktrader]

15 minutes ago, Mac Mickmanus said:

Lost about 70 % of its value in one year

If a house did that would you look to buy or sell?

[Mac Mickmanus]

2 minutes ago, Sparktrader said:

If a house did that would you look to buy or sell?

Houses are different . people will always need a house to live in and thus the price will not go down to zero , Bitcoin can go down to zero because they don't physically exist and it wouldn't matter to most people if they disappeared overnight , most people wouldnt even notice 

[Celsius]

I am actually wiling to bet with anyone here that Bitcoin will not reach 30k in another 5 years. FTX was a nail in the coffin. It is clear as day that Bitcoin was used to scam and leverage hence the high price. When the government gets involved with regulations it will be a lot more difficult to pump and dump.

 

I think there is a better chance of ownining smaller cap coins with limited supply, so when things hit the fan the coins can't be printed like it was the case with Luna. 

[Sparktrader]

7 minutes ago, Mac Mickmanus said:

Houses are different . people will always need a house to live in and thus the price will not go down to zero , Bitcoin can go down to zero because they don't physically exist and it wouldn't matter to most people if they disappeared overnight , most people wouldnt even notice 

Blockchain has value. It wont go zero. Lots of houses after the gfc were worth zero. Also abandoned houses worldwide worth zero. Old hotels in Hua Hin worth zero. The only value is land. Houses depreciate.

[Sparktrader]

7 minutes ago, Celsius said:

I am actually wiling to bet with anyone here that Bitcoin will not reach 30k in another 5 years. FTX was a nail in the coffin. It is clear as day that Bitcoin was used to scam and leverage hence the high price. When the government gets involved with regulations it will be a lot more difficult to pump and dump.

 

I think there is a better chance of ownining smaller cap coins with limited supply, so when things hit the fan the coins can't be printed like it was the case with Luna. 

Ftx has nothing to do with bitcoin.

[Mac Mickmanus]

2 minutes ago, Sparktrader said:

It wont go zero. Lots of houses after the gfc were worth zero. 

During the GFC 2008, house prices in the UK fell by 20 % over the period of 12 months , Bitcoin can lose 20 % of its value within minutes 

Property prices didn't go down to zero anywhere