Buying bitcoins

SureYWouldntYa

draiochtanois wrote: »

It takes a special type of financial naivety to think that "Wall Street" has to crash prices to be able to buy in at a lower price to make money.

You do understand the concept of
shorting?
ultra shorting?
derivatives?
etc

And if theyre gonna go long why not get it as cheap as possible? Not suggesting they are

Nika Bolokov

banie01 wrote: »

Given the volume of the Asian market, the prediminance there of retail investors and the Lunar/Chinese New Year soon.
I'd say its more a dose of pre holiday profit taking, maybe?

I'm going to the country to see my ma for four days so I'll sell all my coins?

Not likely. Not those volumes

pro_gnostic_8

I dunno, it looks more like a slow bleed to me. And it's been slipping that way since Christmas ( with Bitcoin , anyway).
I don't like this; everything is going down including the alts. Which can only mean that whereas before the profit-taking from alts would retreat into BTC or ETH, now that money is instead fleeing crypto to fiat. The "new money" that got into crypto at the height of the euphoria is looking at large losses and they are getting scared. When this new money exits it won't be coming back.
I would advise anyone against buying anything at the moment no matter how "cheap" some coin might look. We might indeed be in a perod of consolidation, or we might be at a stage when panic selling leads to more panic.

Blacktie.

Nika Bolokov wrote: »

I'm going to the country to see my ma for four days so I'll sell all my coins?

Not likely. Not those volumes

Yeah when you mulitply it by a few billion...

makeorbrake

millhouse wrote: »

If the banks were to continue making significant profits (as in no change there) but you also were to make some profits how would this make you feel ?
Is your desire for self gain greater than your desire to have decentralization , reduce bank profits, change the financial landscape of the world ?

I'm a greedy pig like any other human. I find it hard to look at the common good now that theres $$ at stake but I did see it in terms of its potential for society at the very outset.

brendanwalsh

The butcher has been getting his slabs of meat the last few days. When will the slaughter stop? Keep your arse off the street if you don't want to turn into someone else's bacon

s15r330

brendanwalsh wrote: »

The butcher has been getting his slabs of meat the last few days. When will the slaughter stop? Keep your arse off the street if you don't want to turn into someone else's bacon

You were on here the last dip spouting the same sh1t weren't you?!

PopePalpatine

brendanwalsh wrote: »

The butcher has been getting his slabs of meat the last few days. When will the slaughter stop? Keep your arse off the street if you don't want to turn into someone else's bacon

Lay off the Quaaludes mate. :pac:

banie01

Nika Bolokov wrote: »

I'm going to the country to see my ma for four days so I'll sell all my coins?

Not likely. Not those volumes

A big portion of it, I'd warrant.
A large part of Chinese/Lunar New Year celebrations is gifting cash to family members as "luck money".
It also is considered lucky to be overly generous.
With the long bull run, there is plenty of scope for Asian family generosity .

Don't get me wrong, I'm not saying that the total diminished market cap is due to that, but it will have made an imact.

Blacktie. wrote: »

Yeah when you mulitply it by a few billion...

Seriously just pictured you saying that Travolta style alá From Paris with Love!
"How many more of them do you think there are?"

Blacktie "Last census, about a billion.!!"

Earleybird

brendanwalsh wrote: »

The butcher has been getting his slabs of meat the last few days. When will the slaughter stop? Keep your arse off the street if you don't want to turn into someone else's bacon

This tosser again. Goes quiet when it goes back up. Unfollow this thread please.

soirish

pro_gnostic_8 wrote: »

I would advise anyone against buying anything at the moment no matter how "cheap" some coin might look. We might indeed be in a perod of consolidation, or we might be at a stage when panic selling leads to more panic.

It could be that guy again.
https://cointelegraph.com/news/just-one-person-found-to-have-caused-bitcoins-jump-from-150-to-1000-in-2013

Blacktie.

banie01 wrote: »

Seriously just pictured you saying that Travolta style alá From Paris with Love!
"How many more of them do you think there are?"

Blacktie "Last census, about a billion.!!"

Never saw it...

banie01

Blacktie. wrote: »

Never saw it...

Not a great movie!
But there is a scene where there is a shoot-out/fight of 2 against what seems like 100's of Chinese....
After taking out a horde of them, Jonathan Rhys Myers shouts to Travolta, d'ya think there are many more?

And Travolta deadpans the delivery of the "about a billion" line
Bloody hilarious!
Unlike the rest of the movie!

makeorbrake

Presumably this is too close to the psychological $10k mark for it to stop now and find a floor.... :-(

What a bloodbath.

Thargor

This is pretty bad but it always seems that way before the recovery and new ATHs, not nice seeing ETH giving up so much gains though.

Anthracite

Thargor wrote: »

This is pretty bad but it always seems that way before the recovery and new ATHs, not nice seeing ETH giving up so much gains though.

Just be aware that at some point the real crash will come and the ATHs will be a distant memory. I think most of us are aware that cryptocurrency - whatever about blockchain technology ultimately - is very much in bubble territory and has been for a while.

Blacktie.

Anthracite wrote:

Just be aware that at some point the real crash will come and the ATHs will be a distant memory. I think most of us are aware that cryptocurrency - whatever about blockchain technology ultimately - is very much in bubble territory and has been for a while.

Ah so it's not just brendan. Few more doomsayers about at the first sign of a crash.

Thargor

Every single coin on Coinmarketcap in double digits red, most in the 20-30% region, but then again this has happened at this exact time of year every year ofr the last while, Im going to hold.

Wombatman

Anthracite

Blacktie. wrote: »

Ah so it's not just brendan. Few more doomsayers about at the first sign of a crash.

Hi Blacktie. It's a bit too easy to dismiss an argument by rubbishing the person making it. Labelling people is not helpful - I could call you a deluded pump and dump artist, but it would not really facilitate discussion, so I won't.

My point is pretty simple - the crypto market is a bubble now. There must be over a thousand absolute rubbish coins out there, and even the 'gold standard' coins, Bitcoin and Ether, are of dubious value going forward. You may not accept this, but you haven't bothered to make a counter argument.

I'd guess I've been investing money a bit longer than you, and as I've said, I've seen this all before. Thousands of tech companies started with the internet bubble, and 99.9% of them are gone now. The only company I can think of out of all those thousands of internet companies is Amazon. Everyone lost their shirt on all the others.

I lost a fair bit of money on real tech companies that had real products and real revenue and real leadership and real business plans. Most of the coins have none of the above. That's just a fact. I'd rather not see people get taken to the cleaners the way they were nearly 20 years ago - and I get paid nothing for taking the time to warn: just abuse from people like you. Thanks.

Finally, as I've pointed out, one of these crashes is going to be THE crash. I hope to get my money out before then, but when this bubble bursts, it's going to take 99.9% of the market with it, and what remains will be unrecognisable. At a certain point, new money will stop flowing into crypto currencies as all those willing or able to gamble on it have done so. With no new money coming in, prices will plateau, and people will see their gamble is not winning them anything. At that point, people will start to sell and the whole thing will come crashing down as the positive feedback loop we have seen to date is put in reverse.

You'd think Irish people would not need warnings about bubbles and crashes, but there you go.

(of course, this is the longest possible way of playing out the crash - there are plenty of other events that could bring it about sooner)

SureYWouldntYa

I had no intention of fully taking out everything

I took out my initial investment yesterday to leave “all profit”

But damn is today and near 50% drops depresssing I know hodl and all that but damn its annoyin

Squozen

Tell me about it, I’m down over €5k. I’m currently trying to decide what to do.

soirish

Gryzor

What does illegal mean exactly? Does it mean that exchanges can't be setup in that country or it's illegal for citizens to trade crypto even on international exchanges?

Kenny Logins

Gryzor wrote: »

What does illegal mean exactly? Does it mean that exchanges can't be setup in that country or it's illegal for citizens to trade crypto even on international exchanges?

It's complicated -

https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

brendanwalsh

If we drop below 10k things could get very nasty

Gryzor

brendanwalsh wrote: »

If we drop below 10k things could get very nasty

you forgot to mention the butcher....and the bacon...and all that...

q85dw7osi4lebg

Can't possibly go below 10......can it

Wombatman

Angelo Sparse Sunflower wrote: »

Can't possibly go below 10......can it

Very close.

Kenny Logins

Angelo Sparse Sunflower wrote: »

Can't possibly go below 10......can it

It has on many markets - https://coinmarketcap.com/currencies/bitcoin/#markets