Crypto lounge thread

MikeS

Pelican
This is one of those times where it's really hard not to keep looking at the numbers and say "why didn't I sell when it was this high, or that high, or even medium-ish low, so I could have bought back in lower".
 
Nice tweet by Roosh:


When you see guys in the sphere treating crypto like actual commodities, then you should know that they will behave like commodities - just without any intrinsic value and even more crazy fluctuations:


It's all fine and well to get into the Tulip craze, but you should remember the shortcomings and only treat it as a side-field.
 

Enhanced Eddie

Pelican
Gold Member
MikeS said:
This is one of those times where it's really hard not to keep looking at the numbers and say "why didn't I sell when it was this high, or that high, or even medium-ish low, so I could have bought back in lower".
Not really. Cause the answer is clear... why didn't I sell when it was this high? Because there was no way of knowing that it woudln't go even higher. Sure 19k looked like a hockey stick and a good point to exit, but so did 9k to be honest. And we're still above that now. If you had sold at 9k that would have been no less rational a decision than selling at 19k, but you would have kicked yourself then. Or even selling at 19k if it had then gone up to 25 and never dipped below 20 you'd have kicked yourself then.

There is no way to really predict this. Which is why the way to play bitcoin is to buy the dips and otherwise hodl.
 
MikeS said:
This is one of those times where it's really hard not to keep looking at the numbers and say "why didn't I sell when it was this high, or that high, or even medium-ish low, so I could have bought back in lower".

you have the simple answer in post #1. It basically comes down to: you wanna be the dorky virgin or the alpha chad. It's your choice.
 
I don't believe most of the posts on reddit, most of them probably come from trolls. I've had very bad days in the market, days where I was down 30-40%, in those instances I didn't even have the morale to go on to forums and cry. I think those are no coiners who are having a laugh while reading peoples reactions :)

Yeah I'm sure there are people who lost everything, but I don't think they go to forums to rant.
 

tomzestatlu

Kingfisher
Isn´t too late to start such thread?

Actually, I am Chad Hodler. It´s foolish to think, that everybody in crypto will say "ok, we had enough fun, let´s go home". Anyway, next weeks will show.

I am in green numbers, yet.
 

HighSpeed_LowDrag

Ostrich
Gold Member
Hope nobody bought into Bitconnect.

https://www.marketwatch.com/story/n...dives-90-as-company-shuts-exchange-2018-01-17

MW-GB857_bcc_01_20180117064339_ZH.jpg
 
COSS had a bug where market orders were filled as limit orders, and failed to shut down the exchange. They'll be reimbursing people, 'cause god knows they'd better, but that team has just shown time and time again that they're not up to the task of running a crypto exchange.
 

Skank_Hunt

Kingfisher
Gold Member
This is why investors in primarily BTC, LTC, and a few other big altcoins, are unfairly derided by primarily smaller altcoin/ICO shills. I have nothing against people engaging in the latter, but for all the posts about crazy gains in this or that new altcoin or ICO, I read of near complete wipeouts, 80% losses, or cases like Bitconnect. That's why the shitcoin/ICO game pays so well when luck is on your side. BTC itself is regarded as a risky investment. For holders of primarily BTC like JJG, that risk is high enough. Buying dubious shitcoins or participating in ICOs in comparison is far too risky for JJG and people like him. That Bitconnect chart is just a reminder that you can lose everything in these shitcoins. And yes, BTC itself may well be a shitcoin too and worthless in the end as well, but its current status as the biggest, most established coin makes it a lot less risky than buying into something like Bitconnect.
 

Valentine

Kingfisher
Gold Member
Skank_Hunt said:
This is why investors in primarily BTC, LTC, and a few other big altcoins, are unfairly derided by primarily smaller altcoin/ICO shills. I have nothing against people engaging in the latter, but for all the posts about crazy gains in this or that new altcoin or ICO, I read of near complete wipeouts, 80% losses, or cases like Bitconnect. That's why the shitcoin/ICO game pays so well when luck is on your side. BTC itself is regarded as a risky investment. For holders of primarily BTC like JJG, that risk is high enough. Buying dubious shitcoins or participating in ICOs in comparison is far too risky for JJG and people like him. That Bitconnect chart is just a reminder that you can lose everything in these shitcoins. And yes, BTC itself may well be a shitcoin too and worthless in the end as well, but its current status as the biggest, most established coin makes it a lot less risky than buying into something like Bitconnect.

I don't see anyone deriding coins with actual fundamentals behind it like ETH.

BTC and LTC's usecase is supposed to be currency, but it is getting supplanted by far more suitable currencies such as XRB which is fast and free. Who wants to pay $30 in transaction fees and wait an hour to get a payment?

Everyone derides BTC and LTC for good reason. There's nothing wrong with going for big, established coins like ETH or XMR, because those are being widely used for their real purpose and not simply for speculation.
 

RedPillUK

Pelican
OK have we hit the bottom now and we're going back up? I just checked coinmarketcap, and most coins are in the green again. 533 billion market cap now. It might be a good time to buy if you were scared to buy in before in case it kept dipping.

Edit: Im going to put in a small amount in now. If the market dips again, sorry about that.
 

godfather dust

Hummingbird
Gold Member
SamuelBRoberts said:
Skank, do you know why Bitconnect might have a higher risk profile than say, NEO, or is it just another shitcoin to you?

Bitconnect is not an indicator of anything, it wasn't even a shitcoin it was a fraudcoin.
 
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