ozimoron Posted November 23, 2022 Share Posted November 23, 2022 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 1 Link to comment Share on other sites More sharing options...
Popular Post jerrymahoney Posted November 23, 2022 Popular Post Share Posted November 23, 2022 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. 1 2 1 Link to comment Share on other sites More sharing options...
Neeranam Posted November 23, 2022 Share Posted November 23, 2022 (edited) 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 Edited November 23, 2022 by Neeranam 1 Link to comment Share on other sites More sharing options...
Neeranam Posted November 23, 2022 Share Posted November 23, 2022 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? Link to comment Share on other sites More sharing options...
ozimoron Posted November 23, 2022 Share Posted November 23, 2022 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. 1 Link to comment Share on other sites More sharing options...
Neeranam Posted November 23, 2022 Share Posted November 23, 2022 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. 1 Link to comment Share on other sites More sharing options...
ozimoron Posted November 23, 2022 Share Posted November 23, 2022 (edited) 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. Edited November 23, 2022 by ozimoron Link to comment Share on other sites More sharing options...
jerrymahoney Posted November 23, 2022 Share Posted November 23, 2022 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 Link to comment Share on other sites More sharing options...
Neeranam Posted November 23, 2022 Share Posted November 23, 2022 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 Link to comment Share on other sites More sharing options...
Sametboy2019 Posted November 23, 2022 Share Posted November 23, 2022 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. 1 Link to comment Share on other sites More sharing options...
Popular Post ozimoron Posted November 23, 2022 Popular Post Share Posted November 23, 2022 (edited) 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. Edited November 23, 2022 by ozimoron 2 1 Link to comment Share on other sites More sharing options...
Sametboy2019 Posted November 23, 2022 Share Posted November 23, 2022 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! 1 Link to comment Share on other sites More sharing options...
In Full Agreement Posted November 23, 2022 Share Posted November 23, 2022 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. Link to comment Share on other sites More sharing options...
youngexpat Posted November 23, 2022 Share Posted November 23, 2022 a sober assessment of current market conditions actually 1 Link to comment Share on other sites More sharing options...
nausea Posted November 23, 2022 Share Posted November 23, 2022 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". 1 1 Link to comment Share on other sites More sharing options...
Neeranam Posted November 23, 2022 Share Posted November 23, 2022 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. Link to comment Share on other sites More sharing options...
Neeranam Posted November 23, 2022 Share Posted November 23, 2022 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. 1 Link to comment Share on other sites More sharing options...
Sametboy2019 Posted November 23, 2022 Share Posted November 23, 2022 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. Link to comment Share on other sites More sharing options...
Sametboy2019 Posted November 23, 2022 Share Posted November 23, 2022 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. Link to comment Share on other sites More sharing options...
talahtnut Posted November 23, 2022 Share Posted November 23, 2022 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. 1 1 Link to comment Share on other sites More sharing options...
rimmae2 Posted November 24, 2022 Share Posted November 24, 2022 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? Link to comment Share on other sites More sharing options...
Neeranam Posted November 24, 2022 Share Posted November 24, 2022 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) 1 1 Link to comment Share on other sites More sharing options...
Neeranam Posted November 24, 2022 Share Posted November 24, 2022 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. 1 Link to comment Share on other sites More sharing options...
Popular Post aldriglikvid Posted November 24, 2022 Popular Post Share Posted November 24, 2022 3 Link to comment Share on other sites More sharing options...
jerrymahoney Posted November 24, 2022 Share Posted November 24, 2022 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. 1 1 Link to comment Share on other sites More sharing options...
Neeranam Posted November 24, 2022 Share Posted November 24, 2022 7 minutes ago, jerrymahoney said: Not sure if you are serious or not. You mean you have never heard of Metaverse, DeFi, and Web3? Link to comment Share on other sites More sharing options...
jerrymahoney Posted November 24, 2022 Share Posted November 24, 2022 (edited) 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 Edited November 24, 2022 by jerrymahoney Link to comment Share on other sites More sharing options...
SheungWan Posted November 24, 2022 Share Posted November 24, 2022 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? 1 Link to comment Share on other sites More sharing options...
ozimoron Posted November 24, 2022 Share Posted November 24, 2022 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. 1 Link to comment Share on other sites More sharing options...
Neeranam Posted November 24, 2022 Share Posted November 24, 2022 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. Link to comment Share on other sites More sharing options...
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