I just bought $200,000 of Bitcoin

[ozimoron]

This is why the price of bitcoin went sky high last year.

 

More than 19,000 people who made at least $1 million in 2020 also collected jobless assistance that year, new IRS data show. That included 4,500 people who earned between $5 million and $10 million and 229 people with eight-figure incomes or more.

 

https://www.politico.com/news/2022/11/22/unemployment-assistance-millionaires-covid-pandemic-2020-00070446

[jerrymahoney]

Vast Majority of Retail Investors in Bitcoin Lost Money, BIS Says
Bank for International Settlements studied retail crypto trend

BySunil Jagtiani
November 16, 2022, 2:57 AM UTC

A study of how retail investors use cryptocurrency exchange apps suggests about three-quarters have lost money on Bitcoin, according to the Bank for International Settlements.

 

https://www.bloomberg.com/news/articles/2022-11-16/vast-majority-of-retail-investors-in-bitcoin-lost-money-bis-says

_____________

 

And all those who post on here are part of the other one quarter contingent.

 

 

[Neeranam]

2 hours ago, jerrymahoney said:

Vast Majority of Retail Investors in Bitcoin Lost Money, BIS Says
Bank for International Settlements studied retail crypto trend

BySunil Jagtiani
November 16, 2022, 2:57 AM UTC

A study of how retail investors use cryptocurrency exchange apps suggests about three-quarters have lost money on Bitcoin, according to the Bank for International Settlements.

 

https://www.bloomberg.com/news/articles/2022-11-16/vast-majority-of-retail-investors-in-bitcoin-lost-money-bis-says

_____________

 

And all those who post on here are part of the other one quarter contingent.

 

 

Only if they bought last year and sold this year, which is a foolish thing to do. 

I suggest you read the following article by the El Salvador president before believing what Bloomberg say about Bitcoin. 

 

 

You would think the economic geniuses at Bloomberg, Forbes, Fortune, Financial Times, Deutsche Welle, BBC, Al Jazeera, The Guardian, The New York Times, The Washington Post, etc., would have enough analysts and editors well versed in these topics to tell them not to publish that nonsense. You would think these absurd articles wouldn’t pass those editorial boards, but they do. And sometimes they even get a very large space, like a full-page spread in The New York Times.

 

https://bitcoinmagazine.com/print/stop-drinking-the-elites-kool-aid

[Neeranam]

4 hours ago, ozimoron said:

This is why the price of bitcoin went sky high last year.

 

More than 19,000 people who made at least $1 million in 2020 also collected jobless assistance that year, new IRS data show. That included 4,500 people who earned between $5 million and $10 million and 229 people with eight-figure incomes or more.

 

https://www.politico.com/news/2022/11/22/unemployment-assistance-millionaires-covid-pandemic-2020-00070446

So why did BTC go sky high in 2017, or 2013?

[ozimoron]

1 minute ago, Neeranam said:

So why did BTC go sky high in 2017, or 2013?

I haven't researched it but you can be sure they were periods of easy money and low interest rates.

[Neeranam]

Just now, ozimoron said:

I haven't researched it but you can be sure they were periods of easy money and low interest rates.

Or maybe due the the BTC halvening.

[ozimoron]

9 minutes ago, Neeranam said:

Or maybe due the the BTC halvening.

That's a TA Youtube selling point. Was there a halving anywhere near the 2021 high? It doesn't conform to the 1.5 years supposed average. There have been only three halvings so far. Macro market forces will determine the price.

 

Why should it take 18 months after a halving for the price to peak? There's no technical reason so it's coincidence.

[jerrymahoney]

1 hour ago, Neeranam said:

I suggest you read the following article by the El Salvador president before believing what Bloomberg say about Bitcoin. 

Thanks for the suggestion

[Neeranam]

24 minutes ago, ozimoron said:

That's a TA Youtube selling point. Was there a halving anywhere near the 2021 high? It doesn't conform to the 1.5 years supposed average. There have been only three halvings so far. Macro market forces will determine the price.

 

Why should it take 18 months after a halving for the price to peak? There's no technical reason so it's coincidence.

https://cointelegraph.com/bitcoin-for-beginners/bitcoin-halving-how-does-the-halving-cycle-work-and-why-does-it-matter

[Sametboy2019]

15 hours ago, ozimoron said:

I don't use any social media site except Line because I don't believe social media is a good place for info.

How do you know if you dont use it? Twitter is by far the best source for crypto news. 

[ozimoron]

2 minutes ago, Sametboy2019 said:

How do you know if you dont use it? Twitter is by far the best source for crypto news. 

Sorry, I couldn't agree less. It's full of vested interests and hype.

[Sametboy2019]

13 hours ago, Mac Mickmanus said:

And there are some guys that bought when the price was $60,000 and they are now thinking . Could've had , shouldnt' ve had 

Should of bought the same amount or twice as much when it went to $15,500. Get that DCA down!

[In Full Agreement]

3 minutes ago, Sametboy2019 said:

Should of bought the same amount or twice as much when it went to $15,500. Get that DCA down!

 

So how many coins (?) do you actually own?     The shake up with BT isn't  finished yet.

 

[youngexpat]

 a sober assessment of current market conditions actually

[nausea]

Here's some investment advice- buy at the bottom, sell at the top. I can't see Bitcoin going away anytime soon. Whether it's reached its nadir yet is a moot point, but a truism of investment advice is you can't time the market. Personally, if I had a few pennies to spare, I wouldn't be adverse to buying, as a purely speculative investment. Just remember "not your keys, not your coins".

[Neeranam]

4 hours ago, In Full Agreement said:

 

So how many coins (?) do you actually own?     The shake up with BT isn't  finished yet.

 

Why? Bit strange asking that. 

[Neeranam]

2 hours ago, nausea said:

Here's some investment advice- buy at the bottom, sell at the top. I can't see Bitcoin going away anytime soon. Whether it's reached its nadir yet is a moot point, but a truism of investment advice is you can't time the market. Personally, if I had a few pennies to spare, I wouldn't be adverse to buying, as a purely speculative investment. Just remember "not your keys, not your coins".

I bought at 18k and 17k. I bought a lot more BNB at $260 and prefer that to BTC as I get  around 4% p.a on it and there is more uproom than BTC. 

[Sametboy2019]

4 hours ago, In Full Agreement said:

 

So how many coins (?) do you actually own?     The shake up with BT isn't  finished yet.

 

Dont own any Bitcoin. Its just a simple rule when buying crypto.

[Sametboy2019]

5 hours ago, ozimoron said:

Sorry, I couldn't agree less. It's full of vested interests and hype.

That depends on who you follow. Its like the news. 

[talahtnut]

There is little to no real economic value created by the business.

It’s just investors giving their money to existing investors,

thereby creating the perception among participants that

they are in a real business, even though they are creating

no real value. It’s a pyramid scheme that will not last because

the FED doesn't like it, they plan their own digital Coin.

I'm sure FTX collapse was engineered..go figure.

[rimmae2]

14 hours ago, Neeranam said:

I bought at 18k and 17k. I bought a lot more BNB at $260 and prefer that to BTC as I get  around 4% p.a on it and there is more uproom than BTC. 

More uproom in what timeframe?

[Neeranam]

2 hours ago, rimmae2 said:

More uproom in what timeframe?

The great thing about BTC, in my experience, is that it doesn't matter when you buy it; you just have to wait different lengths for profit. 

Right now, I can see my buys at 18 and 17k being in profit in 1-3 months, that is 20-30k. For the big gains, it might be 2 years until it hits 100k.

When I am asked about a recommendation to buy or not, I say buy if you can wait 3 years. Obviously now, after a 75% drop, I'd say only buy if you can wait 6 months(to be safe)

[Neeranam]

9 hours ago, talahtnut said:

There is little to no real economic value created by the business.

It’s just investors giving their money to existing investors,

thereby creating the perception among participants that

they are in a real business, even though they are creating

no real value. It’s a pyramid scheme that will not last because

the FED doesn't like it, they plan their own digital Coin.

I'm sure FTX collapse was engineered..go figure.

Not sure if you are serious or not. 

 

**** the FED.

 

I am heavily invested in Multiversx(EGLD), as the next big technology is DEFI, Web3, and the Metaverse. 

[aldriglikvid]

[jerrymahoney]

1 hour ago, Neeranam said:

Not sure if you are serious or not. 

 

**** the FED.

 

I am heavily invested in Multiversx(EGLD), as the next big technology is DEFI, Web3, and the Metaverse. 

Not sure if you are serious or not. 

[Neeranam]

7 minutes ago, jerrymahoney said:

Not sure if you are serious or not. 

You mean you have never heard of Metaverse, DeFi, and  Web3?

[jerrymahoney]

11 minutes ago, Neeranam said:

You mean you have never heard of Metaverse, DeFi, and  Web3?

no.

 

But I have heard of The Bank for International Settlements

[SheungWan]

21 hours ago, nausea said:

Here's some investment advice- buy at the bottom, sell at the top. I can't see Bitcoin going away anytime soon. Whether it's reached its nadir yet is a moot point, but a truism of investment advice is you can't time the market. Personally, if I had a few pennies to spare, I wouldn't be adverse to buying, as a purely speculative investment. Just remember "not your keys, not your coins".

The bottom?

[ozimoron]

What disturbs me about crypto lately is that most charts are at historical lows (all time) and some, like EGLD look like they are the crypto equivalent of Custer's last stand. If they lose this level there's no bottom. It's a historical fact that 90% of crypto don't make it and many coins are looking like heading to oblivion soon. Remember the darlings like SOL, ADA, AVAX and FTM? There's not much support for them now. The macro economic picture is going to have to improve bigly to save them.

[Neeranam]

12 minutes ago, jerrymahoney said:

no.

 

But I have heard of The Bank for International Settlements

If you haven't heard of those things, perhaps BTC is not something you should consider buying lol.