Crypto lounge thread

So you think a person that holds 100 dollars of bitcoin is better off than someone who is holding fiat? A person holding 100 dollars worth of bitcoin is basically worth almost 20 dollars at this moment while some are worth 0.Both holder of fiat and any crypto are in the same situation, they were both sent to poverty by volatility, market manipulation and inflation.

Everyone keep looking for the next big thing in crypto, anxiety and addiction comes in. A typical gambler emotions. The rat race begins, delusions and also depression sets in

In the history of land, the price of land has never fallen to zero but crypto has.

Most of the top crypto in 2013 are already worth zeros today, the same thing will happen to the present top cryptos, in the next 6 to 10 years, many will be worthless and the cycle continue, more people will be liquidated

I invest in crypto but i am very realistic, i understand what regulations can do to a market, i am not a fanatic that fails to see the big picture or think a coin will suddenly beat the global financial systems.

The reality is crypto will make people more poorer when volatility happens no wonder china had to come in to protect their citizens, they are trying to avoid panic and sucide when market falls.

I love physical asset and it gives me a true form of ownership.

To answer your question, you are better off holding $100 worth of Bitcoin now than cash. Actually holding $100 of almost any asset is better than holding cash.

The single most important for you to have in your life is a forecast for money supply expansion in your country for the next 8 years. Before you invest the next decade of your life doing whatever, stop and figure out the rate at which your currency is going to be debased. Then act accordingly.
 
it seems you are just projecting your own experience with the crypto market onto everyone else, its a bit tiring. If you've had a rough time with this dip maybe take a step back and just forget about crypto for a while
How am i projecting?

Isn't true that 1 single company controls about 10% of the supply of bitcoin?

Isn't true that 1 man tweets can make people lose all their bitcoin?

Isn't true, that the top mining companies are all located in China?

If some private companies and individuals can control the supply and even manipulate the market, isn't it suppose to be a concern for every investor.

We say we want decentralization and that bitcoin can pave the way, is this what decentralization really means?

How is this projecting my own experience?
 
To answer your question, you are better off holding $100 worth of Bitcoin now than cash. Actually holding $100 of almost any asset is better than holding cash.

The single most important for you to have in your life is a forecast for money supply expansion in your country for the next 8 years. Before you invest the next decade of your life doing whatever, stop and figure out the rate at which your currency is going to be debased. Then act accordingly.
There is no difference, at the end, i will have to convert my bitcoin into cash to survive.

100 dollars worth of bitcoin isn't worth anything, if the price of a bitcoin reaches 100k, your profit wouldn't be able to make you have a better life.

I hope you learn a little thing from this metaphor.

Do not get high on your supply.
 
There is no difference, at the end, i will have to convert my bitcoin into cash to survive.

100 dollars worth of bitcoin isn't worth anything, if the price of a bitcoin reaches 100k, your profit wouldn't be able to make you have a better life.

I hope you learn a little thing from this metaphor.

Do not get high on your supply.

$100 worth of bitcoin wouldn't make my life better. Check mate, I concede.
 

fireshark

Robin
Isn't true, that the top mining companies are all located in China?

Likely not for much longer.

Long term this is very good for BTC, as the vast majority of the "dirty BTC energy that is killing the world" hyperbole stems from the fact that 65% of Bitcoin's hashrate is powered by cheap dirty coal plants in China.

5j59DO6.jpg
 
Likely not for much longer.

Long term this is very good for BTC, as the vast majority of the "dirty BTC energy that is killing the world" hyperbole stems from the fact that 65% of Bitcoin's hashrate is powered by cheap dirty coal plants in China.

5j59DO6.jpg
I read something similar to what you posted on 4chan.

Anyway, developing markets are the sweatshops for developed countries Addiction.

Elon is proposing something new and he and saylor formed a council. Elon and telsa still benefits from the new initiative.
 

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Cervantes

Woodpecker
I have some already . If it dips into the 20000s I’ll grab more. Lately I’m just more into the habit of options:

if I guessed wrong and the value of btc and coin drops in the coming months, the value of my options contracts goes to zero. If it returns to where it was a month ago and coin goes back to a price of 350 to 400/share, then I can exercise some of those options to shares of coin and sell the rest and I’ll make a few hundred grand and have hundreds of shares of COIN. If I put that money into btc then I’d have more btc. It would have been a much safer bet to simply buy Bitcoin but not nearly as high of a potential gain.

I’m a single guy and no family and can absorb the loss easily, I still own shares of very safe conservative stocks like Disney and Microsoft. With bigger risk comes bigger potential gain, this is a bet I felt like making.

and if btc drops lower I have some other cash lying around I could buy btc but if it’s going to crater to 20000 or 10000 I’ll just keep waiting and buy the bigger dip

edit, I could have just bought 100 shares of coin. But this was more of a gamble and with options, you can potentially make a lot of money with rapid swings in a stocks price. I just hope I guessed right about the recovery of crypto
An awesome idea. What price target and expiration should people buy?

Also: it is immoral it invest in jewsney.
 

SlickyBoy

Hummingbird
Are you trying to discredit a news that is also on american online media and bitcoin magazine all over the world.

I think you are still living in the fantasy that crypto is some kind of investment that will save you from the system when in reality it is part of the system that also follows the cycle of a market.
You write about how China is doing this and that, then post an article from a controlled Chinese source with questionable coverage of the subject. How else am I supposed to interpret this incongruence other than a desperate effort to support your position?

The fantasy of China banning crypto doesn't hold up to reality. Not only do they register miners who operate there legally, Chinese companies manufacture the specialized computers and customized mining equipment and export it world wide. Logically, shutting down the factories and prohibiting the business line would be a component to banning crypto, yet here we are, still seeing mining machines for sale.

The fact the American media misses this point should tell you how careless they are, as well as possibly told not to report positively on BTC by the big money interests who own them - what better way to depress the price while the fat cats scoop up more at the OTC desk? BTW, have you checked the price today? Bouncing back up now that the FUD is fading.

So you don't trust crypto, you don't understand it; fine. There's nothing wrong with sticking with what you know. Just don't jump into buying a sand lot in the worst neighborhood in Detroit while assuming it is categorically superior to any crypto product.

I've been pointing out in this very thread that the whole "damn the man, screw the jews!" iconoclastic thinking that accompanies a lot of crypto troll mentalities is the furthest thing from reality.
 

Mikeyd03

Robin
I don't know where crypto is going in the next year (no one does)....however is my opinion we are still in a bull market. There are certain things I have taken note of:

>coinbase loosening criteria for new listings (they know something and see potential for more revenue)
>Many calling for beginning of bear market......yet big money has been loading up. I read recently that the Rothchilds loaded up on over 200k ETH (you can check me on that #)
>Yet to really see blowoff mania (yes we saw high amounts of greed......however looking at BTC/ALT pairs....i'm not so convinced this is over).

That being said....there are so arguments for the other side:
>richest man in the world pumping doge on live TV
>Extremely high Gas fees/transaction fees (reminds me of 2017)
>Lots of women jumping into crypto, always a tell tale sign we are close to some sort of top......in fact my sister (whom I told to buy bitcoin at around $3k) finally decided to make her first purchase at $63k.

Assuming the bull market is still on.....I am heavily eyeing the miners. Elon tweeted out that he met with many North American Miners just yesterday.

My hunch tells me six figure bitcoin is around the corner. I could be completely wrong......and if that's the case I will enjoy the opportunity to continue DCAing into long-term HODLS (BTC, XMR, ETH, LINK).

I know BTC maxis don't like to hear that......but it is a bit concerning how Elon is coopting the whole "go green" to impose his will on miners.

Chump move.
 
You write about how China is doing this and that, then post an article from a controlled Chinese source with questionable coverage of the subject. How else am I supposed to interpret this incongruence other than a desperate effort to support your position?

The fantasy of China banning crypto doesn't hold up to reality. Not only do they register miners who operate there legally, Chinese companies manufacture the specialized computers and customized mining equipment and export it world wide. Logically, shutting down the factories and prohibiting the business line would be a component to banning crypto, yet here we are, still seeing mining machines for sale.

The fact the American media misses this point should tell you how careless they are, as well as possibly told not to report positively on BTC by the big money interests who own them - what better way to depress the price while the fat cats scoop up more at the OTC desk? BTW, have you checked the price today? Bouncing back up now that the FUD is fading.

So you don't trust crypto, you don't understand it; fine. There's nothing wrong with sticking with what you know. Just don't jump into buying a sand lot in the worst neighborhood in Detroit while assuming it is categorically superior to any crypto product.

I've been pointing out in this very thread that the whole "damn the man, screw the jews!" iconoclastic thinking that accompanies a lot of crypto troll mentalities is the furthest thing from reality.
Anyway, i see the crypto world as the fueling tools for a one world currency we talk about here on this forum but this time, it is made up of different currencies and infrastructures fighting to win number 1.

Crypto just like the Us dollar, it is globalised, no bounders, you can exchange it anywhere in the world through p2p. Infact p2p fuels it globalised use.

Anyway we fell for the trap as long as we are making good gains we are good.:)))
 
Anyway, i see the crypto world as the fueling tools for a one world currency we talk about here on this forum but this time, it is made up of different currencies and infrastructures fighting to win number 1.

Crypto just like the Us dollar, it is globalised, no bounders, you can exchange it anywhere in the world through p2p. Infact p2p fuels it globalised use.

Anyway we fell for the trap as long as we are making good gains we are good.:)))
I still buy everything with US fiat. I believe you can make gains in crypto AND never submit to a single global currency.
 
What do you guys think about going heavy into litecoin starting this summer and into the bull cycle ? It has a pretty small market cap of $11.5 B for a coin that has been around for 10 years and has no whales . It also seems especially boring and predictable . My plan was to dump my rapidly deflating savings, pour my liquidated stocks into it and put 3 out of 4 paychecks a month into it, and live like a monk until the end of the bull cycle in 2022 according to dr. ben cowen . I know it sounds nutty, but if I manage to accumulate 1000 coins at a price target of $1k that would net me $1M by next year .

Obviously there are a ton of "ifs" but I'd appreciate all your thoughts and input , gentlemen.
 
What do you guys think about going heavy into litecoin starting this summer and into the bull cycle ? It has a pretty small market cap of $11.5 B for a coin that has been around for 10 years and has no whales . It also seems especially boring and predictable . My plan was to dump my rapidly deflating savings, pour my liquidated stocks into it and put 3 out of 4 paychecks a month into it, and live like a monk until the end of the bull cycle in 2022 according to dr. ben cowen . I know it sounds nutty, but if I manage to accumulate 1000 coins at a price target of $1k that would net me $1M by next year .

Obviously there are a ton of "ifs" but I'd appreciate all your thoughts and input , gentlemen.
I don't like the risk/reward with LTC. If you are looking for short term gains that are better than BTC there are far better choices... SOL, LUNA, ADA, Dot, etc.
BTC has outperformed every altcoin except ETH long term. If you are betting all your eggs on one thing, to me BTC and maybe some ETH on the side is the best choice. Buy LTC if you think it will do well, but I wouldn't make it my biggest holding.
It might get a pump if they implement the privacy features, but there are already more trusted privacy coins
 
I don't like the risk/reward with LTC. If you are looking for short term gains that are better than BTC there are far better choices... SOL, LUNA, ADA, Dot, etc.
BTC has outperformed every altcoin except ETH long term. If you are betting all your eggs on one thing, to me BTC and maybe some ETH on the side is the best choice. Buy LTC if you think it will do well, but I wouldn't make it my biggest holding.
It might get a pump if they implement the privacy features, but there are already more trusted privacy coins
Thanks for weighing in; some of the crypto experts think that if we see a 100k bitcoin, we can see a 1k litecoin , and compared to ADA, litecoin is beaten down a bit more due to the recent manipulation by the bitcoin whales. (as of 1 month, ADA is up 40%, litecoin is down 23%)

On the other hand, I do see your point with the $7-$10 upside with ADA. . .but if we were to have a prolonged summer lull perhaps keeping my average entry for litecoin under $150 could help me eeek out a better return . The other piece is that cardano doesn't really dive like how coins that trend with bitcoin do . ADA tends to flatline instead of diving, making it harder to accumulate more . When the whales crashed bitcoin ADA just gave up its $2.50 peak but held at over $1.50 whereas litecoin predictably lurched off its $400 high and got pushed down to under $150.

As for ETH , while it will outperform bitcoin, I thought it was a lousy crpyto because of the $500 gas fees, its inflationary due to no hard cap on the number of tokens, 75% of the network is on amazon's servers, and it has reversible transactions , central banks want to build their digital currency on it (not to get off topic but some would argue it's a state attack on bitcoin since it shares alot in common with fiat money)
 
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