Crypto get real

[RafPinto]

1 minute ago, MadMuhammad said:

Put it in when it’s big, take it out when it’s small. Hopefully along the way you took a bit out and put some back in again and enjoyed the journey 

Motivated and fit like a tennis racket.
In it went, strong, long and hard and a few minutes later, hiding like it was a very cold winter morning.

[Dazinoz]

5 minutes ago, RafPinto said:

I bought virtual land 2 months ago.
Up 50%

 

Wait a minute, I just was dreaming about that.

 

Cryptos maybe be virtual but has returned some real cash for me.

 

I started "dabbling" a few years back. When I finally settled down I had bought about $30,000 worth various cryptos. I have cashed out $85,000 (so a $55,000 profit) and if I cashed out all the rest at time of writing in this major dip I would still make another $110,000 profit.

[baansgr]

Know one guy bought in at 38k..kept checking his phone every minute. On the up bought in again and again.. I said what it it goes down below 40k, or less than 30k..his response  it will never go that low..bigger fool him

[RafPinto]

8 minutes ago, baansgr said:

Know one guy bought in at 38k..kept checking his phone every minute. On the up bought in again and again.. I said what it it goes down below 40k, or less than 30k..his response  it will never go that low..bigger fool him

Youtube full of fouls shouting 100k in a few months and in a few years, BTC could be 1 Million.
Sure, then 30k sounds a bargain. ????

[ThailandRyan]

1 hour ago, Aussieroaming said:

Plenty of shares feeling the crunch as well, it isn't just crypto. My SET based shares are at about 50% of their original purchase value and my bitcoin is in a similar hole. Investment in shares and bitcoin comes with risks, but in my opinion now is a great time to buy in again and lower the iverall cost price of my investments. In the long term I think that the values will reverse. There is a lot of pent up economic growth waiting to flourish again. 

I completely agree.  Some of my Stocks are down and some are up like Oil and Gas.  My Crypto Holdings are still above what I bought in at in 2016.  HODL what you can and cash out what you want when the price is up.  Just like a day trader in stocks would do...follow the candles and the patterns and volume....

 

1 hour ago, Lacessit said:

Silver is down, gold is holding. Still 10% ahead of my buying price.

Silver is at a historically low ratio to gold, it will get in sync with an improvement in the economic outlook.

When it comes to crypto, Dutch tulip bulbs spring to mind.

Just like buying into the Blue Ray CD players hype and much more.  However, your barking up the wrong tree.

 

Crypto like stocks and other asset classes are here to stay and no its not fake money or a way to wash your ill gotten gains, thats been disproven.  Many coins are truly Junk, but then so are many stocks....

Edited May 14, 2022 by ThailandRyan

[JeffersLos]

13 hours ago, Mac Mickmanus said:

The price only matters if you sell 

That's almost true.

 

Our next sell is when it is $100,000USD (our last sell was at $50,000USD having bought them at less than $10,000USD)

 

The price does matter because we will purchase some more if the price continues to fall to $20,000.

 

We are not in a rush and have been successful in selling at 5 times the purchase price a number of times. ????

 

 

[jesimps]

13 hours ago, Iamfalang said:

maybe under your implied reasoning.

 

But what if you bought only 1 Bitcoin at all levels and then 10000000000000 Bitcoins at 35,000?

 

Then you are crying me a river....

crying me a river...

cry me a river....

cry me a river..

 

hahahahhahahahaha

But only a fool would do that. If you're dollar cost averaging (DLA), you spend similar small amounts of money every week/month or whatever. It's when you buy on a whim, a gut feeling, that you get burned. Any sensible Bitcoin trader isn't bothered by this latest drop in price. I bought a small amount at 31,000 and have my next buy order in at 25,000. I personally think that the price will go to low 20s so I'll be buying again around there if it happens.

[scubascuba3]

41 minutes ago, Dazinoz said:

Actually its probably too secure. Very hard to hack from outside influence. If you are irresponsible and can't keep your own passwords or pass phrases which are used to recover wallets from crash hard drives and computers, etc, then thats your fault and nothing to do with security.

If you compare it to traditional bank accounts or investment accounts, if you lose your password or hard drive destroyed, no problem can contact company to get new password etc, i realise blockchain has added security benefits, but the password and hard drive issue is not good

[jesimps]

6 hours ago, proton said:

Mugs game

That's why there are so many Bitcoin millionaire mugs.

[jesimps]

2 hours ago, Dazinoz said:

Actually it wIll be 21 million and they are saying that it is estimated that between 3 to 4 million are "lost" and will never be recovered due to lost passwords, hard disks, etc.

They say that the richest people in crypto are those who're deceased.

[Lacessit]

7 minutes ago, jesimps said:

That's why there are so many Bitcoin millionaire mugs.

And how many are there that have lost their life savings?

Don't know if you have noticed, but for every winner there has to be a loser.

[Lacessit]

29 minutes ago, ThailandRyan said:

 

 

Just like buying into the Blue Ray CD players hype and much more.  However, your barking up the wrong tree.

 

Crypto like stocks and other asset classes are here to stay and no its not fake money or a way to wash your ill gotten gains, thats been disproven.  Many coins are truly Junk, but then so are many stocks....

I'll continue barking up the wrong tree, thanks. My attachment to real assets has resulted in me probably running out of money when I get to 105 yo.

 

Rule 1 of investing is never put your money into something you don't understand. I don't understand how a stream of electrons in cyberspace can have any value, apart from what people imagine it to be.

 

OTOH, the Australian share BHP is IMO a screaming buy. One of the world's biggest mining companies, it absolutely defecates money in terms of cashflow. Every year, it can swallow a $10 billion minnow without blinking.

[spidermike007]

I have a friend who bought 400 bitcoins at $90 each. He has done quite well. 

[Lacessit]

1 hour ago, MadMuhammad said:

I’m a boring, long hold investor. Diversified across just about everything: health, commodities, tech (inc a few startups), health, telcos, staples, energy, managed funds and ETF’s. I limit most of my stock buys at max 2% total capital, very rarely any more than that. Moon shots even less. 
 

In past I’ve been one of the victims of short attacks (JCap on ASX:RFF/NEA), malicious FUD reports and straight up companies get found out for cooking the books (ASX:RFG). RFG went from a sector darling at $4.40 to around .05c today. 
 

I’ve haven’t been prudent enough to set stop losses in the past but my ‘losses’ over 5 years are around 10% of initial investment capital, but that has been far exceeded by my ‘wins’ 

 

I have, at a guess, 70% of my wealth in the market but I sleep well at night knowing I have de-risked as much as humanly possible 

I am almost entirely out of shares. Cash, precious metals and peer-to-peer lending. BHP is the last man standing.

I got out of RFG when it hit $2, took a $3000 bath. IIRC, there is a class action winding its way through the courts.

No way I could sleep well with 70% of my money in the sharemarket, but I guess that is age-related too.

 

 

[owl sees all]

I blame the Russians.

 

If they had insisted "Gas for Roubles or Bitcoin" the price would be shooting up.

[kennw]

2 hours ago, Aussieroaming said:

Plenty of shares feeling the crunch as well, it isn't just crypto. My SET based shares are at about 50% of their original purchase value and my bitcoin is in a similar hole. Investment in shares and bitcoin comes with risks, but in my opinion now is a great time to buy in again and lower the iverall cost price of my investments. In the long term I think that the values will reverse. There is a lot of pent up economic growth waiting to flourish again. 

Questions, 1. how can any "currency cf bitcoin" be anything more than monopoly money when it's value fluctuates so much, 2. Do you think Governments are going to allow their national currencies to be displaced by something over which they have no control? 

[owl sees all]

1 hour ago, Dazinoz said:

Cryptos maybe be virtual but has returned some real cash for me.

 

I started "dabbling" a few years back. When I finally settled down I had bought about $30,000 worth various cryptos. I have cashed out $85,000 (so a $55,000 profit) and if I cashed out all the rest at time of writing in this major dip I would still make another $110,000 profit.

So it is thee that has caused the slide.

[Dazinoz]

1 hour ago, scubascuba3 said:

If you compare it to traditional bank accounts or investment accounts, if you lose your password or hard drive destroyed, no problem can contact company to get new password etc, i realise blockchain has added security benefits, but the password and hard drive issue is not good

So someone steals your identity, money gone. Investment aside I know which security i prefer.

[ThailandRyan]

33 minutes ago, Lacessit said:

I'll continue barking up the wrong tree, thanks. My attachment to real assets has resulted in me probably running out of money when I get to 105 yo.

 

Rule 1 of investing is never put your money into something you don't understand. I don't understand how a stream of electrons in cyberspace can have any value, apart from what people imagine it to be.

 

OTOH, the Australian share BHP is IMO a screaming buy. One of the world's biggest mining companies, it absolutely defecates money in terms of cashflow. Every year, it can swallow a $10 billion minnow without blinking.

I guess that's your problem, as you never tried to learn about the integral uses of Crypto and how it is used in todays society ie... Smart Contracts etc.....I trade Crypto like I do stocks.  Did you get into stocks, day trading or such in it without researching and studying up on Trading, Options and Calls etc...or did you take the time to learn and become successful.  True it can be a mugs game, but so can it be a mugs game in the stock sector if you have no clue in what your doing.  As I said, live and learn, and maybe one day you will see the value of the asset class called crypto.  With Stocks never buy with the first up candle unless its above the close from the day before or it is a upward trend supported by volume....but then you know that.  The same goes for Crypto.  Many rushed in without knowing what the trends were and only followed the hype.  I bought in a long time ago, have taken profits and used them for other ventures such as buying stocks, maxing out my annual Roth contribution in my self directed account and buying real-estate for my kids in the US.  Enjoy

[Dazinoz]

8 minutes ago, owl sees all said:

So it is thee that has caused the slide.

Probably.

[Hummin]

43 minutes ago, spidermike007 said:

I have a friend who bought 400 bitcoins at $90 each. He has done quite well. 

He realized his fortune yet? 

 

If you willing to take risk in a early faze, of course there will be investors who get lucky, if they realize their investment at the right time.

 

He can sit and wait until it hits 100k or a million. Those who bought at 30k or higher (Musk comes to mind) either can afford to loose and continue life as nothing happened, or loose their life savings, or at worst case they borrowed money. 

 

About 3,6 million coins lost?

 

Bitcoin users have misplaced about 20% of all existing tokens, and unlike fiat currency which can potentially be recovered, it's highly unlikely that these tokens will be returned to circulation, analysis by the Wall Street Journal suggests

https://www.investopedia.com/news/20-all-btc-lost-unrecoverable-study-shows/

 

[Walker88]

Amateur hour. The guys who originally conjured these things love the retail attitude.

 

Where one bought means nothing, except to the taxman. If someone holds a position that tumbles 60% from a high it experienced while one owned it, then that person is neither a trader nor investor, but just a dreamer. Barking about purchase price or how one 'still is ahead'---despite watching it tumble 60% while owning it---is 100% about ego.

 

Move the stops, if one is lucky enough to make a profit. Maybe give it a little extra owing to the extreme volatility, but MOVE THE STOP. Nothing clears the head and allows one to be both rational and disciplined than exiting a position and taking a fresh look. Watching a 60% crash SHOULD prompt one to go into the bathroom, look in the mirror, and tell that guy "You were wrong". Good traders do exactly that; dreamers find excuses, or bark about purchase price being 'so much lower'.

 

Dreamers always think the market owes them and plan to wait until it rises again. Of course, rising again could take decades, or even never.  From the Nikkei to Pets.com, there are always those 'waiting'. 33 years and counting, or never, is a lot of waiting.

 

What is the rationale for why it must go up again? There is none. It's merely hope. Lots of people in markets lose everything to hope. "yes, but I know a guy who bought at $20 and made bazillions!". Did he liquidate? If not, he left a large fortune on the table.

 

It might sound like a tautology, but btc went up because it went up.  55% of its holders entered in the last year, which is to say after the train left the station. At best they are even, but more likely they are losing. Now that btc isn't a rocketship to the moon, what is going to pull in new money? What's the draw? If all those folks entered in the last year, yet btc is flat, it 'kind of' suggests the originators and early movers are liquidating into retail. A massive holder cannot liquidate all at a top, but will maximize moving a large position by judicious selling, then ramp up buying if the market is thin to hype the thing, then more selling as the bid side fills in. That is the way 'whales' unwind.

 

Again---what is anyone's rationale for why btc has to rise again? It isn't 'earnings', and since all the gurus have been proven dead wrong, it isn't going to be some hype from yesterday's hero cathie woods. So what is the reason?  Maybe it's just hope.

 

In the meantime, 'mining' and transactions continue to pressure fossil fuel price and are one of many key contributors to worldwide inflation.

Edited May 14, 2022 by Walker88

[Lacessit]

47 minutes ago, ThailandRyan said:

I guess that's your problem, as you never tried to learn about the integral uses of Crypto and how it is used in todays society ie... Smart Contracts etc.....I trade Crypto like I do stocks.  Did you get into stocks, day trading or such in it without researching and studying up on Trading, Options and Calls etc...or did you take the time to learn and become successful.  True it can be a mugs game, but so can it be a mugs game in the stock sector if you have no clue in what your doing.  As I said, live and learn, and maybe one day you will see the value of the asset class called crypto.  With Stocks never buy with the first up candle unless its above the close from the day before or it is a upward trend supported by volume....but then you know that.  The same goes for Crypto.  Many rushed in without knowing what the trends were and only followed the hype.  I bought in a long time ago, have taken profits and used them for other ventures such as buying stocks, maxing out my annual Roth contribution in my self directed account and buying real-estate for my kids in the US.  Enjoy

I'm not a trader, never have been. I look for undervalued assets. Property, shares, precious metals.

Happy to hold on for months or years until the market turns.

As you say, crypto probably has value in terms of blockchain transactions etc. My problem ( not really as I don't own any crypto ) is understanding when crypto is undervalued or overvalued.

With shares and property, one can get income as well as capital gains. I have yet to see a crypto that is producing income for its buyers.

[JeffersLos]

1 hour ago, Lacessit said:

Don't know if you have noticed, but for every winner there has to be a loser.

You don't understand trading, do you. ???? 

[Sparktrader]

3 hours ago, 4MyEgo said:

What about one forum member here who allegedly said he just bought 200k about a month or so back, what would be his averaging in be ?

 

Come to think of it, he has gone awfully quite of late.

 

 

Sold out he said

[Sparktrader]

35 minutes ago, Walker88 said:

Amateur hour. The guys who originally conjured these things love the retail attitude.

 

Where one bought means nothing, except to the taxman. If someone holds a position that tumbles 60% from a high it experienced while one owned it, then that person is neither a trader nor investor, but just a dreamer. Barking about purchase price or how one 'still is ahead'---despite watching it tumble 60% while owning it---is 100% about ego.

 

Move the stops, if one is lucky enough to make a profit. Maybe give it a little extra owing to the extreme volatility, but MOVE THE STOP. Nothing clears the head and allows one to be both rational and disciplined than exiting a position and taking a fresh look. Watching a 60% crash SHOULD prompt one to go into the bathroom, look in the mirror, and tell that guy "You were wrong". Good traders do exactly that; dreamers find excuses, or bark about purchase price being 'so much lower'.

 

Dreamers always think the market owes them and plan to wait until it rises again. Of course, rising again could take decades, or even never.  From the Nikkei to Pets.com, there are always those 'waiting'. 33 years and counting, or never, is a lot of waiting.

 

What is the rationale for why it must go up again? There is none. It's merely hope. Lots of people in markets lose everything to hope. "yes, but I know a guy who bought at $20 and made bazillions!". Did he liquidate? If not, he left a large fortune on the table.

 

It might sound like a tautology, but btc went up because it went up.  55% of its holders entered in the last year, which is to say after the train left the station. At best they are even, but more likely they are losing. Now that btc isn't a rocketship to the moon, what is going to pull in new money? What's the draw? If all those folks entered in the last year, yet btc is flat, it 'kind of' suggests the originators and early movers are liquidating into retail. A massive holder cannot liquidate all at a top, but will maximize moving a large position by judicious selling, then ramp up buying if the market is thin to hype the thing, then more selling as the bid side fills in. That is the way 'whales' unwind.

 

Again---what is anyone's rationale for why btc has to rise again? It isn't 'earnings', and since all the gurus have been proven dead wrong, it isn't going to be some hype from yesterday's hero cathie woods. So what is the reason?  Maybe it's just hope.

 

In the meantime, 'mining' and transactions continue to pressure fossil fuel price and are one of many key contributors to worldwide inflation.

Inflation isnt caused by btc

[Sparktrader]

5 hours ago, Excel said:

And the "Crypto King" is responsible for many of them getting "lost". Just a shame  very many people were conned into investing in his scam. Google "Crypto King" and watch the documentary. Investment gullibility and greed in order to have something that is too good to be true are one of the same really.

Not a scam

Up 500% in 3 years

Fiat is a scam

[Excel]

4 minutes ago, Sparktrader said:

Not a scam

Up 500% in 3 years

Fiat is a scam

Clearly you have not watched the documentary I linked.

[SAFETY FIRST]

I purchased a few over the years, my first purchase was 1200 baht per BTC in 2015. 

 

It's still a good investment, it'll go up you just got to be patient.

 

Not recommended for the short term investor. 

 

[Sparktrader]

34 minutes ago, Excel said:

Clearly you have not watched the documentary I linked.

Who made it?