Crypto Crashes

[NativeBob]

30+ something neighbor next door invested 500K on May 11 and 1M yesterday on #LUNA coins. We haven't seen him since while the price reached 0.00005 BUSB

He was so proud with his investment just a day ago, and something tells me these were not his money.

[Neeranam]

@Excel

 

  @mokwit and @Hummin

 

When did you first hear about Bitcoin and do you own any?

[Hummin]

2 minutes ago, Neeranam said:

@Excel

 

  @mokwit and @Hummin

 

When did you first hear about Bitcoin and do you own any?

From a friend in 2015 or 2016, he was a believer. Was in terms he is out, and done. Made a little fortune but did not manage to convince me

[mokwit]

3 minutes ago, Neeranam said:

@Excel

 

  @mokwit and @Hummin

 

When did you first hear about Bitcoin and do you own any?

<deleted>.

[dj230]

4 hours ago, Neeranam said:

I started a popular thread in Jan 2020, when BTC was $30.5k. Today, after one of the biggest crashes, if not THE biggest crash in crypto history, BTC stands at $30.5k.

 

As usual, there are lots of FUDers and haters come into this thread as they are bitter, they are even happy despite this crash causing some inexperienced to commit suicide - ????

 

There is a saying in crypto -  HODL. 

It is all to to with time in the market.

 

Even those who bought at the high of 2017($19k) faired winners by waiting 2 years, and could have sold at $69k. 

 

If you don't like volatility or are an unwilling dinosaur go buy stock and get 10% on your money. Talking of which, Buffet has double down on his 'crypto bank' investment.

Alternatively, if you are a boring trader, buy gold. Actually, gold is down since I started that topic

 

 

You also said you bought Luna at 0.90, which means you lost 99% of your investment

300% up and 99% down is still being down 97% 

 

 

 

[Neeranam]

6 minutes ago, dj230 said:

You also said you bought Luna at 0.90, which means you lost 99% of your investment

300% up and 99% down is still being down 97% 

 

 

 

I've no idea what you are talking about. 

 

I bought a little LUNA as a long shot, only about $50. 

 

I had bought $2,000 a while back. This was a small &age of my portfolio, as I never really trusted it but I will buy these long shots. 

 

If you invest $1 million  and get 300% and invest $1,000 and lose 99%, ah never mind, you've shown you don't know general arithmetic. 

 

[Neeranam]

17 minutes ago, mokwit said:

<deleted>.

Go on tell us. 

[dj230]

2 minutes ago, Neeranam said:

I've no idea what you are talking about. 

 

I bought a little LUNA as a long shot, only about $50. 

 

I had bought $2,000 a while back. This was a small &age of my portfolio, as I never really trusted it but I will buy these long shots. 

 

If you invest $1 million  and get 300% and invest $1,000 and lose 99%, ah never mind, you've shown you don't know general arithmetic. 

 

funny how its just $50 invested after it crashes but when something goes up you will say you bet the farm ???? 

 

 

Edited May 13, 2022 by dj230

[Neeranam]

19 minutes ago, Hummin said:

From a friend in 2015 or 2016, he was a believer. Was in terms he is out, and done. Made a little fortune but did not manage to convince me

Do you regret it? 

 

 

You could have bought 10 BTC for $2000. 

 

The wise move could have been sold half when doubled, like that Yank dude, Jim Cramer who does the investing show. 

 

Then you would have had 5 BTC worth $150k.  

 

 

[Neeranam]

Just now, dj230 said:

funny how its just $50 invested after it crashes but when something goes up you will say you bet the farm ???? 

 

 

It had already fallen 99%. in a day when I bought it. 

 

This meant I doubled my stack for next to nothing. 

 

I hope you are not calling me  a liar?

[Neeranam]

@dj230

 

When did you first hear about Bitcoin and do you own any?

[mokwit]

18 minutes ago, Neeranam said:

Do you regret it? 

 

 

You could have bought 10 BTC for $2000. 

 

The wise move could have been sold half when doubled, like that Yank dude, Jim Cramer who does the investing show. 

 

Then you would have had 5 BTC worth $150k.  

 

 

This is why I didn't answer you because I knew this is the kind of stupid answer I would get exactly this. "If you had bought at XX you would have made XX".

 

So as you asked the question: what is YOUR cost basis - what level did you buy at? tell us when you bought at what level and how much you put in and what is it worth now.. As you clearly knew Bitcoin would go up so much I imagine you put every penny you had into it, no?. Anybody can put $50 into something and forget about it and look good if it works out. I once made 2,200% in a stock position I had forgotten about because I had so little money in it.

Edited May 13, 2022 by mokwit

[dj230]

Just now, Neeranam said:

It had already fallen 99%. in a day when I bought it. 

 

This meant I doubled my stack for next to nothing. 

 

I hope you are not calling me  a liar?

So you only own $500 of DOT, because you said you sold 10% of your DOT investment to buy Luna. 

In another thread you sounded like you had a lot invested in DOT and other cryptos that crashed recently because you wanted to stake and make some yield. Let me guess you only put $50 in those as well ???? 

 

On 5/12/2022 at 11:52 AM, Neeranam said:

Thing is I doubled my stack for very little money.

 

Kinda like insurance.

 

Luckily, I was not big on Luna. Sold 10% of my DOT to get some. 

[Neeranam]

19 minutes ago, mokwit said:

This is why I didn't answer you because I knew this is the kind of stupid answer I would get exactly this.

I just want to know if you are a detached observer or bitter that you never bought when you first heard about it.

 

When was that?

[Mac Mickmanus]

5 minutes ago, Neeranam said:

I just want to know if you are a detached observer or bitter that you never bought when you first heard about it.

 

When was that?

You seem to continually post about how rich and successful  you are , seeming tying to make others envious and always posting about your wins and you never seem to lose 

[mokwit]

13 minutes ago, Neeranam said:

I just want to know if you are a detached observer or bitter that you never bought when you first heard about it.

 

When was that?

I'm not bitter that I missed it. I'm a stock trader, I miss stocks that go up hundreds or thousands of percent all the time, or sell out just before they make the big move. I absolutely acknowledge I missed a trade, but I wasn't prepared to distract from the stock market and put the effort in to find all the info I would need to trade it and wrongly assumed it wouldn't be worth it as I expected it to flame out. Bitcoin was sinking into oblivion until the Fed created massive unprecedented liquidity on Covid and gave it a second lease of life.  Note "trade" is not the same thing as "investment"/HODL.  I trade stock that I know are going to zero and would have traded Bitcoin with exactly that strategy.

 

Now:

 

1) what is YOUR cost basis - what level did you buy at? tell us when you bought at what level and how much you put in and what is it worth now.

 

2) So what is it for then? What is it's use, what is it's function.

 

You insist other people answer you but evade answering questions to you.

 

Edited May 13, 2022 by mokwit

[StayinThailand2much]

Tesla's share price has recently suffered, thanks to Elon Musk loading off to finance his private acquisition of Twitter.

 

Back to topic. It's not just cryptocurrencies. Most assets are in a bear market now. - All my equity investments, incl. tech stocks, I have now temporarily 'written off' until 2040, not expecting a profit before:

 

2022-2030: recession, stocks flat,

 

2030-2040: recovery, 10% rise of stock markets/year.

 

(This is not investment advice, just gut feeling.)

Edited May 13, 2022 by StayinThailand2much

[Hummin]

42 minutes ago, Neeranam said:

Do you regret it? 

 

 

You could have bought 10 BTC for $2000. 

 

The wise move could have been sold half when doubled, like that Yank dude, Jim Cramer who does the investing show. 

 

Then you would have had 5 BTC worth $150k.  

 

 

I believe it was 350 back then? 
 

No, can not regret investments you never did, and I pulled out of the stock marked in late 2006, after I made quite good money, and reinvested in safer funds and noble metals. 
 

As said before when discussing this, Im pretty good and ready for the future with enough for a comfortable life without to much worries. Have 4 legs to stand on, pention, little bit gold, property, and low risk funds. 
 

Those of you who advocate bitcoins, need to continue (all of you) to push the message to make sure enough people buy in. Im not sure it working as good as you hope in the long turn, rather will work against you, since it seems a bit desperate every time there is threads like this. 
 

But we never know.

 

Most of you guys should be so rich now, that you guys did not have time to sit here anymore or bother to continue preaching ????????

[StayinThailand2much]

1 hour ago, Neeranam said:

@Excel

 

  @mokwit and @Hummin

 

When did you first hear about Bitcoin and do you own any?

Must have been 2013 or 2014. Laughed it off then. Wish I had invested back then. Now too late; too risky.

[StayinThailand2much]

10 minutes ago, Hummin said:

You could have bought 10 BTC for $2000

Were there crypto wallets back then?

[Hummin]

10 minutes ago, StayinThailand2much said:

Were there crypto wallets back then?

No idea, as said, I was not convinced or had any interest checking it out. I believe 2017 a few more friends bought in to it, but most I know was sceptical, and still is. 

[Excel]

2 hours ago, ThailandRyan said:

Same with the pump and dump stock schemes before or those investing in shell corporations to hide the ill gotten gains, but then there is always the flip side where Stocks are good investments and so can crypto be.  Diversification is best at the end of the day.  

 

Are you trying to say that Mark Cuban, Warren Buffet and others who have either bought into crypto or companies that support cryptos are laundering their money from fraudulent activities, just a different view than yours is all.

Wouldn't know but simply saying they are simply no different to  high rolling gamblers, except these billionaires  impact simple peoples lives and living standards,  by selling off vast amounts of shares and/or asset stripping without consideration to others other than their own profit motives. Basically disgusting and unmitigated greed that many people in this world hold up as an example of civilised civilisation. But we have hijacked this thread which is about crypto currency .

Edited May 13, 2022 by Excel

[Neeranam]

25 minutes ago, Excel said:

Wouldn't know but simply saying they are simply no different to  high rolling gamblers, except these billionaires  impact simple peoples lives and living standards,  by selling off vast amounts of shares and/or asset stripping without consideration to others other than their own profit motives. Basically disgusting and unmitigated greed that many people in this world hold up as an example of civilised civilisation. But we have hijacked this thread which is about crypto currency .

You could easily be talking about Jp Morgan or Jamie Dimon and the other dudes in traditional finance. 

[Neeranam]

59 minutes ago, Hummin said:

Those of you who advocate bitcoins, need to continue (all of you) to push the message to make sure enough people buy in.

Nonsense, mass adoption is happening, presidents bought the dip. Large institutions are buying, countries, etc. 

I think it would be foolish not to put a small proportion of your wealth into this, especially as fiat is losing 10% + every year. 

[bobbin]

3 hours ago, Neeranam said:

How is it unethical?

 

Maybe not unethical, although a case could be made, but uses an obscene amount of energy that could have been put to more practical use..

[Hummin]

2 minutes ago, Neeranam said:

Nonsense, mass adoption is happening, presidents bought the dip. Large institutions are buying, countries, etc. 

I think it would be foolish not to put a small proportion of your wealth into this, especially as fiat is losing 10% + every year. 

Time will tell if I should hold 5% of my fortune in crypto, I doubt since I do not believe in the future with the coins right now. I believe Bitcoin will be replaced, but I do not know when. If Im right, I will be good, if Im wrong, I Am still good, and that is the most important to me. 

[Neeranam]

1 hour ago, mokwit said:

) what is YOUR cost basis - what level did you buy at? tell us when you bought at what level and how much you put in and what is it worth now.

 

2) So what is it for then? What is it's use, what is it's function.

 

You insist other people answer you but

Since early 2017, I've been putting pretty much all my salary into Crypto. 

Everything I bought is up, obviously. 

 

My 3 main holdings 

 

I'm into defi now, getting 40% Apr for Solana, which I bought at $10°

 

12% for polkaDot from a US bank, which I bought for $4. 

 

100% for EGLD, I bought between $7 and $50.

 

[Neeranam]

3 minutes ago, Hummin said:

Time will tell if I should hold 5% of my fortune in crypto, I doubt since I do not believe in the future with the coins right now. I believe Bitcoin will be replaced, but I do not know when. If Im right, I will be good, if Im wrong, I Am still good, and that is the most important to me. 

I wonder if your grandkids will appreciate this thought. 

People have not been believing in BTC for years, nothing new. 

 

 

[Hummin]

2 minutes ago, Neeranam said:

I wonder if your grandkids will appreciate this thought. 

People have not been believing in BTC for years, nothing new. 

 

 

Most people do not believe in bitcoins, and there is only 21 million bitcoins available. A created coin out of the blue by an anonymous person nobody know who is. It beats me ????

 

BTW, If I had kids, than Im sure my grandkids would be very happy and proud I was their grandpa

[Neeranam]

58 minutes ago, bobbin said:

Maybe not unethical, although a case could be made, but uses an obscene amount of energy that could have been put to more practical use..

Let's close down all the banks in the World, any idea how much power they use?