Bitcoin/Ethereum/cryptocurrencies
- Thread starter 35years
- Start date
Non sequitur
Well-Known Member
Have you requested from UPS to pay you in gold bars? Probably not so you're probably getting direct deposit to your bank which are merely numbers on the screen. Couple that with 95% of transactions are done with your credit card. Retail is going to be the driver of crypto. The lightning Network will cost $0.03 transaction fees instead of the credit card companies 1% to 3% plus a fee.
DriveInDriveOut
Inordinately Right
Just had a bad week. I was surprised crypto hadn't already done this.
Non sequitur
Well-Known Member
Whether you understand it or not doesn't matter people are putting their buys in now.
There was an article in my latest AARP magazine that explained it all. They talked about stuff like Tulip Mania, Beanie Babies, and Greater Fool theory. Pretty scary.
wilberforce15
Well-Known Member
I was watching. It was like 9k in an hour. Lol
Bitcoin loses $10,000, or 17%, in 24 hours after overnight rout
From a 24-hour period spanning Friday morning to Saturday morning, bitcoin's price went from about $57,000 to $47,000, losing $10,000, or more than 17%.www.cnbc.com
wilberforce15
Well-Known Member
Retail cannot drive crypto to where it needs to go. Institutional money is required for btc to go anywhere right now.
There are so many bubbles right now I'm surprised everything doesn't crash.
wilberforce15
Well-Known Member
Whats more scary is that any investor in hypergrowth, small caps /tech has already been crushed twice this year and a wider crash could do more. That's my primary territory.
Just about everything on my watch list is 40 to 70%down from a month or two ago, and flat or down for the year, with this being the second big hit.
Megacaps are carrying the entire market.
I took some money out earlier this year and have a sitting on the sidelines
Over70irregs
Well-Known Member
Loved all of it. Always keep stash to side for dippers. Was NOT!!!! expecting that much of a dip. Notice the timing for the weekend while there’s no access to liquidity. Man-0-man
Over70irregs
Well-Known Member
Jumped it while I was literally in line at Chipolte. Thank goodness I had people in line ahead of me.Bitcoin loses $10,000, or 17%, in 24 hours after overnight rout
From a 24-hour period spanning Friday morning to Saturday morning, bitcoin's price went from about $57,000 to $47,000, losing $10,000, or more than 17%.
Over70irregs
Well-Known Member
It’s ok to stand on side if it’s too much. Once you understand the concerted effort to shake lil peeps off the train so the $ wall can dictate.
I talked to my financial advisor at Edward Jones and he advised me to steer clear of this crypto stuff.
DriveInDriveOut
Inordinately Right
Ya I should probably keep more cash on hand. My last trac order executed in November at $1.40 and I'm tapped out until January. It only dipped to about $1.30ish though so not much of a miss.
I don't have any short term investments, crypto or otherwise, so I don't worry too much about this kind of thing.
But Dave will do your taxes..
DriveInDriveOut
Inordinately Right
And shampoo your cat.
Full service.
Thank God I don't have any dead cat smell in my house
wilberforce15
Well-Known Member
DriveInDriveOut
Inordinately Right
Dude I have squirrels in my attic.
It's bad. I'm about to poison the
out of those mother ers.