New problems for crypto emerging

[save the frogs]

25 minutes ago, HappyExpat57 said:

FWIW, just about ALL currencies any more are fiat currencies, not backed by any physical assets whatsoever. Just a wink, a nod, and a "trust us, we're good for it."

the fiat currencies are backed by the stability of the govt and the economy.

the govts would have to collapse for the currency to become worthless.

most govts and economies don't collapse. 

[Brickleberry]

22 hours ago, ukrules said:

Nonsense.

 

Binance.US is a tiny fraction of what Binance actually is, about 2% I believe. It's an irrelevance.

 

However now they've taken action against Coinbase as well I would expect that to hit harder.

 

In a way I don't blame Gensler for this action as the choices these exchanges make in what to list and trade are highly suspicious.

Nonsense. It's a US company, headquartered in the US, with over 50% of it's user base in the US. Check the stats yourself below.

https://www.similarweb.com/website/coinbase.com/#geography

[stoner]

4 hours ago, NativeBob said:

I don't see "3 month low". 

maybe make an adjustment to your timeframe. don't think that hourly shows much more than a few days. 

[stoner]

57 minutes ago, ozimoron said:

These days I would stick to only the top ten by market cap except for very small hoddle plays.

chainlink ? 

[scottiejohn]

5 hours ago, FritsSikkink said:

What is your total amount of "crypto wealth"?

What a stupid and meaningless question to ask/post on any forum about (so called) finance!

 

The answer(s) will be meaningless as it/they cannot be proven and in no way helps or hinders your "argument/position"!

 

 

 

 

Edited June 7, 2023 by scottiejohn

[scottiejohn]

38 minutes ago, Sametboy2019 said:

but a few cryptos have utility which we will see come to fruition in the next few years

"but a few cryptos have utility which we will see come to fruition -and rot- in the next few years" in MY opinion!

[ozimoron]

1 hour ago, Neeranam said:

Which ones? 

ATLAS, KDA. LUNA might be some. There's nothing magic about the issue price, it's just what the the market would bear at the time.

[Seppius]

SEC must be confident on the Ripple/XRP case going in their favour, or why would they be doing this? Or is there a "play" going on here?

[ukrules]

2 hours ago, Brickleberry said:

Nonsense. It's a US company, headquartered in the US, with over 50% of it's user base in the US. Check the stats yourself below.

https://www.similarweb.com/website/coinbase.com/#geography

That part of my post was about binance.

 

[ozimoron]

BTC has just bounced off a major trend line. I think I drew it at the neck line of a head and shoulders candle pattern from memory. It really needs to hold this level as support or bad things might happen. The previous 1 hour candle also has a long rejection wick.

 

Meanwhile, gold has just broken a high time frame trend line headed south as well.

 

edit: BTC has broken that trend line. I smell toast for now. We'll see. Nobody can predict this market.

Edited June 7, 2023 by ozimoron

[Seppius]

1 hour ago, ozimoron said:

BTC has just bounced off a major trend line. I think I drew it at the neck line of a head and shoulders candle pattern from memory. It really needs to hold this level as support or bad things might happen. The previous 1 hour candle also has a long rejection wick.

 

Meanwhile, gold has just broken a high time frame trend line headed south as well.

 

edit: BTC has broken that trend line. I smell toast for now. We'll see. Nobody can predict this market.

Good support at 25K/24/k will test 27K resistance, lets see who is right just for fun as I am not a holder

 

DYOR

[ozimoron]

40 minutes ago, Seppius said:

Good support at 25K/24/k will test 27K resistance, lets see who is right just for fun as I am not a holder

 

DYOR

I play small amounts of money with no leverage.

 

I think the retest of 26,600 was it. So far it's rejecting from there. Time will tell. A close below 26,221 should do it for BTC.

 

Gold is continuing down and NVDA and TSLA both have 3 black crow candles and look to be turning over. I have an alert for 376 for NVDA and 221 for TSLA.

 

Both Gold and BTC broke below trend lines I had drawn but bounced back above them for a retest. Now heading back down slowly. They may churn here for a bit.

Edited June 7, 2023 by ozimoron

[ozimoron]

On a side note about TSLA. They have reduced the price of the model 3 about 3 or 4 times in recent months. It was stated at the time they had a marketing policy of selling more cars rather than maximizing profit in order to get market dominance before the competitors do. Tesla has a lot of cash so it can afford to do this and thei cost of construction is lower than their competitors as I understand. This policy is all well and good but it should result in lower revenue due to lower prices. Earnings is due soon and I predict is will be down.

 

Yesterday they said on Bloomberg that a Model 3 was cheaper than a Camry in the US. So I have a put on TSLA.

 

 

Edited June 7, 2023 by ozimoron

[JensenZ]

On 6/6/2023 at 9:00 PM, Neeranam said:

When did you first learn about BTC and what price was it? Missing the boat is often hard to handle.

Catching the boat is not as important as getting off it at the right time before the storm hits.

[FritsSikkink]

14 hours ago, scottiejohn said:

What a stupid and meaningless question to ask/post on any forum about (so called) finance!

 

The answer(s) will be meaningless as it/they cannot be proven and in no way helps or hinders your "argument/position"!

 

 

 

 

The one who I asked is always boosting about his crypto knowledge and how early he started with crypto.

When somebody makes a statement about crypto he doesn't like always the 2 questions popup:

When did you first hear about crypto, how much did you buy in for? 

Also boast about investments he made which appear to be sometimes in the $50 usd range. So for me it is a valid question.  

[Neeranam]

1 hour ago, JensenZ said:

Catching the boat is not as important as getting off it at the right time before the storm hits.

What price did you buy and sell bitcoin? 

 

It's not really hard, but now and sell in 2 years. 

[Neeranam]

20 hours ago, NativeBob said:

I don't see "3 month low". 

3 month low for btc is 20 k. 

 

[Neeranam]

15 hours ago, scottiejohn said:

"but a few cryptos have utility which we will see come to fruition -and rot- in the next few years" in MY opinion!

Do you own any crypto? 

 

Maybe a silly question t to ask someone on a Cryptocurrency sub firu, but there care some strange people around. 

[ozimoron]

3 hours ago, Neeranam said:

What price did you buy and sell bitcoin? 

 

It's not really hard, but now and sell in 2 years. 

You mentioned selling a house some time ago and investing a motza into BTC. What was the average price you paid? I believe it was quite a lot higher than it is now from memory. If you can't remember can you tell us the month in which you did it?

 

If not, why are you asking others to tell you what they paid?

Edited June 8, 2023 by ozimoron

[ozimoron]

3 hours ago, Neeranam said:

Do you own any crypto? 

 

Maybe a silly question t to ask someone on a Cryptocurrency sub firu, but there care some strange people around. 

I follow the gold price but I don't own any gold right now. Is that also strange?

[JensenZ]

4 hours ago, Neeranam said:

What price did you buy and sell bitcoin? 

 

It's not really hard, but now and sell in 2 years. 

The worst trading stragey of all. Did you watch the price in the past and think the same will happen in the future? It's not hard, it's impossible to predict the market and in the current economic and political climate harder than ever.

[JensenZ]

1 hour ago, ozimoron said:

You mentioned selling a house some time ago and investing a motza into BTC. What was the average price you paid? I believe it was quite a lot higher than it is now from memory. If you can't remember can you tell us the month in which you did it?

 

If not, why are you asking others to tell you what they paid?

Typical traders who were lucky in the past thinking they can predict the market. I see this type of over confidence destroy people all the time.

Edited June 8, 2023 by JensenZ

[Neeranam]

2 minutes ago, JensenZ said:

The worst trading stragey of all. Did you watch the price in the past and think the same will happen in the future? It's not hard, it's impossible to predict the market and in the current economic and political climate harder than ever.

It worked for me in the past. I am not a trader most of the time. 

 

You never answered my question -  when did you buy/sell?

 

Still waiting for replies for the same question from @ozimoron @Chivasand @scottiejohn

 

 

[ozimoron]

5 minutes ago, Neeranam said:

It worked for me in the past. I am not a trader most of the time. 

 

You never answered my question -  when did you buy/sell?

 

Still waiting for replies for the same question from @ozimoron @Chivasand @scottiejohn

 

 

I told you precisely when I sold (put) BTC. The average price was around the critical level 26,300.

 

I asked you what price you paid and you haven't answered my question.

[Neeranam]

10 minutes ago, ozimoron said:

I told you precisely when I sold (put) BTC. The average price was around the critical level 26,300.

 

I asked you what price you paid and you haven't answered my question.

[Neeranam]

1 hour ago, ozimoron said:

If not, why are you asking others to tell you what they paid?

I am asking them as I don't think they have any. 

 

[ozimoron]

3 minutes ago, Neeranam said:

Are you saying you did this last November? I feel quite certain that you posted that a long time before November, 2022.

 

And you're saying you picked the absolute low in Dec - jan to buy DOT?

 

I don't believe either of these claims.

Edited June 8, 2023 by ozimoron

[Neeranam]

1 minute ago, ozimoron said:

Are you saying you did this last November? I feel quite certain that you posted that a long time before November, 2022.

No, I sold my house last September.

[ozimoron]

2 minutes ago, Neeranam said:

No, I sold my house last September.

I don't care when you sold your house, I'm asking when you bought BTC at 16k. My recollection is that you mentioned selling your house AND buying bitcoin well before November, 2022.

 

My apologies if I misremebered.

Edited June 8, 2023 by ozimoron

[Neeranam]

3 minutes ago, ozimoron said:

I don't care when you sold your house, I'm asking when you bought BTC at 16k. My recollection is that you mentioned selling your house AND buying bitcoin well before November, 2022.

 

My apologies if I misremebered.

I bought it after selling my house, last year.