The ASR Cryptocurrency thread

[Chromatischism]

LUNA!

 

[gonzoucab]

LUNA!

i dont hold those crazy things. this time is different

 

[julian_hughes]

i havent worked since 2017

just fucking buy now, ask questions later

It's later, so here's my question:
Should I buy now or maybe wait until it goes through another 20% devaluation over the course of 24 hours?

 

[muslhead]

It's later, so here's my question:
Should I buy now or maybe wait until it goes through another 20% devaluation over the course of 24 hours?

Cryptocurrency jealots believe in buying and HODL ... 20% devals are nothing

 

[Chromatischism]

It's later, so here's my question:
Should I buy now or maybe wait until it goes through another 20% devaluation over the course of 24 hours?

There were a lot of over-leveraged accounts that got liquidated last night. Don't. Use. Leverage.

It presents a buying opportunity though. Set limit orders and you'll catch it on the way down before it bounces back.

 

[Pdxwayne]

There were a lot of over-leveraged accounts that got liquidated last night. Don't. Use. Leverage.

It presents a buying opportunity though. Set limit orders and you'll catch it on the way down before it bounces back.

Bitcoin is down ~27% exactly a month from the start of this thread.

What is your take now? Let's assume your friends and family members listened to you November 10th and bought some bitcoin. What do you tell them now?

Sell and buy later?
Double down?
Hold?

 

[muslhead]

Bitcoin is down ~27% exactly a month from the start of this thread.

What is your take now? Let's assume your friends and family members listened to you November 10th and bought some bitcoin. What do you tell them now?

Sell and buy later?
Double down?
Hold?

LOL
Consistent, short term timing of any market will humble even the best. Its ok to try, but to tell everyone what to do based upon those "guesses" just sets oneself up for embarrassment. I learned this decades ago and now prognosticate zero. I usually get right about exactly what a modal distribution of flipping a coin says i should The market is a humbling bitch.
Eventually everyone learns this, even those that received their PHd's by watching enough youtube videos.

 

[Pdxwayne]

LOL
Consistent, short term timing of any market will humble even the best. Its ok to try, but to tell everyone what to do based upon those "guesses" just sets oneself up for embarrassment. I learned this decades ago and now prognosticate zero. I usually get right about exactly what a modal distribution of flipping a coin says i should The market is a humbling bitch.
Eventually everyone learns this, even those that received their PHd's by watching enough youtube videos.

Haha, I gave that up long ago.

Now I mainly focus on buying value so I can enjoy my passive incomes when retire.

: )

 

[Chromatischism]

Bitcoin is down ~27% exactly a month from the start of this thread.

What is your take now? Let's assume your friends and family members listened to you November 10th and bought some bitcoin. What do you tell them now?

Sell and buy later?
Double down?
Hold?

You can point to any one-month period to show whatever you want. Do we only invest for a month now?

It's no different than any stock. If the story changes, you get out. If the story hasn't changed and we're still in a bull market, you hold and if funds are available you average in some more.

There's been a bunch of short-term profit taking and deleveraging, but the story hasn't changed. Many are using the opportunity to accumulate a ton more.

 

[Chromatischism]

One example of people who already have huge bags yet still buying:

https://twitter.com/x/status/1464777935278284800

But as with any investment, having a longer-term outlook is important.

 

[Pdxwayne]

You can point to any one-month period to show whatever you want. Do we only invest for a month now?

It's no different than any stock. If the story changes, you get out. If the story hasn't changed and we're still in a bull market, you hold and if funds are available you average in some more.

Haha, I don't really care about 1 month change. Like I said, assuming your friends and family members are asking you the questions.
; )

So, your advise now is either hold or buy more. Got it.

 

[Elkios]

Haha, I don't really care about 1 month change. Like I said, assuming your friends and family members are asking you the questions.
; )

So, your advise now is either hold or buy more. Got it.

I'm buying more .

 

[Pdxwayne]

I'm buying more .

Curious, when did you start buying?

 

[cookiefactory]

It's an odd kind of economic justice which gives the greatest rewards to the people who can afford to monopolise hardware and run the biggest server farms. And to speculators of course. Blockchain is a brilliant idea, and gets enough development effort that imperfections or inconveniences will be mostly removed or squashed flat, but cryptocurrency as a replacement for state backed fiat currency is hopeless. It's hard to even see it as a replacement for precious metals because those have extremely attractive attributes such as being decorative and workable and intrinsically attractive to humans. Cryptocurrency is an entertaining speculative instrument and ideological curiosity.

When Bitcoin was released one could mine it with commodity PC hardware which - aside from giving it away - is about as egalitarian as it gets, especially for the time. That it requires specialized hardware today is simply market forces at play as there is increasing demand for the same (actually decreasing) supply. The cost of entry is also what gives the Bitcoin network it's security.

You are of course entitled to your opinion however naysayers have continually been proven wrong. We are tracking the path to hyperbitcoinization (although it may actually turn out to be hyperethereumization) like clockwork. History books often make it seem like revolutions are events, when in actuality they are processes. We are in one.

 

[cookiefactory]

"Your system isn't resolving enough."

Not sure I follow. My...audio system?

 

[Chromatischism]

It will be institutional buying which does a lot of the heavy lifting to carry us upward from here. And I mean more than just the Microstrategy's, who already has 120k+ Bitcoin.

I believe the mobilization of institutional money started in October, when we blasted from 39k to 60k+ in a matter of weeks.

On October 17:

It's not a coincidence that that is the beginning of a fiscal year. My thinking is that in order for large institutions to mobilize the funds and get it through their internal approval processes, it takes time. The OK to buy probably comes at the start of a quarter, the next being Jan 1 2022.

We'll see. There's always a chance I'm wrong.

 

[Elkios]

Curious, when did you start buying?

April this year. I nearly started back in early 2013 but to many blue chip stock investor friend's said I was nut's. Looked back into it early 2017 and my ex lady friend thought it would not be wise .
This year I arrived at the conclusion that if I had listened to myself back then I would actually be far wealthier than those people . I'm heavily into altcoin's .

 

[julian_hughes]

When Bitcoin was released one could mine it with commodity PC hardware which - aside from giving it away - is about as egalitarian as it gets, especially for the time. That it requires specialized hardware today is simply market forces at play as there is increasing demand for the same (actually decreasing) supply. The cost of entry is also what gives the Bitcoin network it's security.

You are of course entitled to your opinion however naysayers have continually been proven wrong. We are tracking the path to hyperbitcoinization (although it may actually turn out to be hyperethereumization) like clockwork. History books often make it seem like revolutions are events, when in actuality they are processes. We are in one.

When bitcoin was released only one third of people in the world had "commodity PC hardware". That would be the wealthier third. It's maybe 50% now. This social justice propaganda doesn't fly. It's marketing/preaching/empty blathering. Bitcoin does nothing to facilitate social justice or rebalance inequality. It's an instrument used by people who are already richer than average and who think they will become even richer despite not making anything or providing any service. That isn't social justice, it's the old combination of greed and speculation but now with extra sanctimonious bs.

 

[Chromatischism]

When bitcoin was released only one third of people in the world had "commodity PC hardware". That would be the wealthier third. It's maybe 50% now. This social justice propaganda doesn't fly. It's marketing/preaching/empty blathering. Bitcoin does nothing to facilitate social justice or rebalance inequality. It's an instrument used by people who are already richer than average and who think they will become even richer despite not making anything or providing any service. That isn't social justice, it's the old combination of greed and speculation but now with extra sanctimonious bs.

That is definitely happening, however, small holders are also increasing in what increments they can.

 

[Pdxwayne]

April this year. I nearly started back in early 2013 but to many blue chip stock investor friend's said I was nut's. Looked back into it early 2017 and my ex lady friend thought it would not be wise .
This year I arrived at the conclusion that if I had listened to myself back then I would actually be far wealthier than those people . I'm heavily into altcoin's .

My older brother and many of his friends were into altcoins back in 2017. Once bitcoin went down like 80% from 2017's high and stayed there for a while, my older brother never talked about altcoin since then.

I really hope 2017 to 2018 drop would not happen again. Good luck.