Is anyone else starting to become a bit worried? mod note in first post

Antares35

cnocbui wrote: »

For whales to make a lot of money, the price has to rise again. If it goes to zero they lose - a lot.

It is in the whales interests for the BTC price to rise again and so it will. They have the funds to make it happen.


Don't be a krill.

Really good point.

AtticusFinch86

Antares35 wrote: »

Really good point.

If you were to take that point to it's logical conclusion then the price would increase exponentially forever. Clearly that's not going to happen.

The only real question is whether we are reaching the top of the market now or is there another bull run or two left to go

Probes

AtticusFinch86 wrote: »

If you were to take that point to it's logical conclusion then the price would increase exponentially forever. Clearly that's not going to happen.

The only real question is whether we are reaching the top of the market now or is there another bull run or two left to go

Why do you think it would have to be exponentional? I mean, the price probably will rise forever when compared with USD simply due to inflation alone, so long as Bitcoin remains relevant. That’s why it’s a hedge against inflation.

HGVRHKYY

FutureTeashock wrote: »

If I were to plonk 500€ into Bitcoin at today's price, and even if hit 1 million per coin, I would only net 15,000.

That is of course a lot of dosh, but I wouldn't be driving around in a Lambo either.

Unless one is willing to risk 5-10 k, I just really see the point.:(

I think having the expectation to end up driving around in a Lambo from only €500 would be pretty ridiculous anyway. Even if you 'only' managed to double your money, you don't see the point in that? Most people investing in stocks and index funds are delighted with 8-10% returns in a year lol. Do you invest in anything in general? Pretty baffling to me to not see the point in trying to make good returns even if you don't have a few grand you're comfortable risking

SortingYouOut

Donald Trump wrote: »

That's a bad attitude for anything to do with your money to be honest. Put your money into it because you think it might hit 100k by all means. Don't put it in only because you fear missing out if it happens.

The correct decision for you today, does not become incorrect because if what subsequently transpires. Conversely, a bad decision today that actually comes through for you by luck does not make it a good decision.

You pulling out at 6k might have been the perfectly correct decision for you based on your circumstances and information you had then. It subsequently going to 50k does not necessarily make that retrospectively wrong.

I'm not even talking about utility. Just general

I get that but I'm still human and once burnt twice shy. I pulled out last year due to a lack of understanding and also not being able to afford to lose what I had at stake. I can afford to lose it this time around and I'll happily put my skin in the game at risk of losing everything, if it offers a chance at the big money. I'm under no illusions, but I do feel it will make another good run, at least up to where it had been and on further hopefully.

Always be prepared to lose it though.

Donald Trump

SortingYouOut wrote: »

I get that but I'm still human and once burnt twice shy. I pulled out last year due to a lack of understanding and also not being able to afford to lose what I had at stake. I can afford to lose it this time around and I'll happily put my skin in the game at risk of losing everything, if it offers a chance at the big money. I'm under no illusions, but I do feel it will make another good run, at least up to where it had been and on further hopefully.

Always be prepared to lose it though.

It is a subtle difference - doing it because you think it is going there versus doing it because you don't want to miss out if it does! People easily get dragged towards the latter way of thinking and forget to consider whether the former is applicable.



The important points to me in your post are bolded. That tells me you made the right decision last time. It would not have been the correct decision to risk your money if you could not afford to lose it - even if what you bought subsequently rocketed. If you can afford to take that risk on now then that is different. Then you can choose to take it if you want and hopefully get rewarded for doing so.



I never bought and sold cryptocurrency. I am only speaking in general terms. People on here will dismiss what I say because I said that.

Probes

HGVRHKYY wrote: »

I think having the expectation to end up driving around in a Lambo from only €500 would be pretty ridiculous anyway. Even if you 'only' managed to double your money, you don't see the point in that? Most people investing in stocks and index funds are delighted with 8-10% returns in a year lol. Do you invest in anything in general? Pretty baffling to me to not see the point in trying to make good returns even if you don't have a few grand you're comfortable risking

My missus made 20% on a grand the first month she did crypto and she was disappointed. I had to point out that if she made 20% every month for the next five years then she would be a multimillionaire, it's unsustainable . Sometimes you need to sit back and take in the wider picture.

FutureTeashock

HGVRHKYY wrote: »

I think having the expectation to end up driving around in a Lambo from only €500 would be pretty ridiculous anyway. Even if you 'only' managed to double your money, you don't see the point in that? Most people investing in stocks and index funds are delighted with 8-10% returns in a year lol. Do you invest in anything in general? Pretty baffling to me to not see the point in trying to make good returns even if you don't have a few grand you're comfortable risking

500€ is a very significant amount as it is the unit that purchases a coke and hookers package.

The last few pages have inspired me to reinvest and risk this significant sum on BTC. I won't keep track of the ups and downs over the next few years and just assume it's lost. That is only way to stay emotionally uninvested.

HGVRHKYY

FutureTeashock wrote: »

500€ is a very significant amount as it is the unit that purchases a coke and hookers package.

The last few pages have inspired me to reinvest and risk this significant sum on BTC. I won't keep track of the ups and downs over the next few years and just assume it's lost. That is only way to stay emotionally uninvested.

Lmao. And yeah, what you've said is also the best way to go about it, literally just invest an amount you're comfortable potentially losing or at least won't need for a few years and then forgetting about it - if/when it crashes then you won't really care about it since you've already decided to not touch it for a few years. By 2024/2025 then you might be able to get double the amount of coke and hookers out of the returns

SortingYouOut

Donald Trump wrote: »

It is a subtle difference - doing it because you think it is going there versus doing it because you don't want to miss out if it does! People easily get dragged towards the latter way of thinking and forget to consider whether the former is applicable.



The important points to me in your post are bolded. That tells me you made the right decision last time. It would not have been the correct decision to risk your money if you could not afford to lose it - even if what you bought subsequently rocketed. If you can afford to take that risk on now then that is different. Then you can choose to take it if you want and hopefully get rewarded for doing so.



I never bought and sold cryptocurrency. I am only speaking in general terms. People on here will dismiss what I say because I said that.

I get what you mean, I was responsible when what I had at stake wasn't a loss I could afford. I still regret taking it out though, in hindsight. Obviously at the time I had no way of knowing where it would go and felt there was too much risk there, so I got out. This time around I'm chasing that lost chance and happy to take the gamble. I've also put a fair bit into clear pump and dumps which, I think, have absolutely nothing behind them and they're making me more money than anything (negligible still) but even more of a gamble. The plan is to eventually pull out from them and back into Ethereum and Bitcoin. Knowing my luck I'll take the money out of the next bitcoin to put it into what it replaces. I'll admit it's a bit of a head melt at times but it's a bit of craic to me, but some might make the mistake of putting everything on it.

PopePalpatine

HGVRHKYY wrote: »

I think having the expectation to end up driving around in a Lambo from only €500 would be pretty ridiculous anyway. Even if you 'only' managed to double your money, you don't see the point in that? Most people investing in stocks and index funds are delighted with 8-10% returns in a year lol. Do you invest in anything in general? Pretty baffling to me to not see the point in trying to make good returns even if you don't have a few grand you're comfortable risking

When you think about it, turning €500 into "Lambo money", which is probably at least €300k if you fancy the Official Car of MLMs Anus Urus once taxes are factored in, translates to odds of 600/1. That's the sort of bet you'd do maybe once a year as a €5 or €10 pre-season accumulator that always ends up a couple of legs down, or a 10c request-a-bet on a cup final.

SnuggyBear

You can use altcoins to increase that 500 quicker and then put your profits back into bitcoin or more altcoins.
Easy tactic lately is buy on Sunday and sell when it goes up Monday or over the week. There was 75% to 100% gains last week on some coins like matic, telcoin and maker. Not financial advice

SortingYouOut

SnuggyBear wrote: »

You can use altcoins to increase that 500 quicker and then put your profits back into bitcoin or more altcoins.
Easy tactic lately is buy on Sunday and sell when it goes up Monday or over the week. There was 75% to 100% gains last week on some coins like matic, telcoin and maker. Not financial advice

Whats with the whole "not financial advice" thing? Very Reddit of you, but I don't get why it's necessary.

CorkRed93

SortingYouOut wrote: »

Whats with the whole "not financial advice" thing? Very Reddit of you, but I don't get why it's necessary.

heres what you should do (but if it goes tits up i didnt advise you)

Irish_rat

Donald Trump wrote: »

I never bought and sold cryptocurrency. I am only speaking in general terms. People on here will dismiss what I say because I said that.

Its baffling how you keep posting here given you have zero experience using crypto.

Also your posts are so random I get a headache reading any.

SortingYouOut

CorkRed93 wrote: »

heres what you should do (but if it goes tits up i didnt advise you)

Ah no, I get that much but I'm just wondering why someone anonymous on the internet gives a feck about removing themselves from the financial decisions another stranger makes. It's always the same line as well, just wondering if they think they're converting themselves in a legal setting which, in Ireland anyway, it wouldn't matter one bit whether you said that or not.

cnocbui

Irish_rat wrote: »

Its baffling how you keep posting here given you have zero experience using crypto.

Also your posts are so random I get a headache reading any.

It's easy to be negative about something you have never and will never gain from. Sour grapes, basically.

Conversely, I find it very easy to be positive because I am invested, have been for some time and the potential gain has been substantial.

FutureTeashock

cnocbui wrote: »

It's easy to be negative about something you have never and will never gain from. Sour grapes, basically.

Conversely, I find it very easy to be positive because I am invested, have been for some time and the potential gain has been substantial.

HMS Bitcoin is currently taking in a lot of water. Best to wait before crowing about your gains imo.

SnuggyBear

SortingYouOut wrote: »

Ah no, I get that much but I'm just wondering why someone anonymous on the internet gives a feck about removing themselves from the financial decisions another stranger makes. It's always the same line as well, just wondering if they think they're converting themselves in a legal setting which, in Ireland anyway, it wouldn't matter one bit whether you said that or not.

I said it more tongue in cheek than anything

FutureTeashock

FutureTeashock wrote: »

HMS Bitcoin is currently taking in a lot of water. Best to wait before crowing about your gains imo.

That completely depends on when you bought in

cnocbui

FutureTeashock wrote: »

HMS Bitcoin is currently taking in a lot of water. Best to wait before crowing about your gains imo.

My portfolio is still very green.

Donald Trump

cnocbui wrote: »

It's easy to be negative about something you have never and will never gain from. Sour grapes, basically.

Lol.

Show me where I was negative or positive about anything?

I already went through this with some other eejit.

Donald Trump

Irish_rat wrote: »

Its baffling how you keep posting here given you have zero experience using crypto.

Also your posts are so random I get a headache reading any.

That's ok if you don't understand them. You can ignore them. They're not for you. I don't do meme format unfortunately.

Donald Trump

SortingYouOut wrote: »

I get what you mean, I was responsible when what I had at stake wasn't a loss I could afford. I still regret taking it out though, in hindsight.

Don't get caught out with the "regret in hindsight" thing. Learn from something if it was a genuine mistake or calculation in your logic at the time, but don't let it emotionally drag you into future mistakes. It sounded to me from your description that what you did was right at the time. So it is still right now. It doesn't mean you can't take on more risk in the future when you can afford to

AFA (Actual financial advice) :pac:

Slideways

Things not looking good for Bitcoin after a large portion of the ransom for the pipeline ransomware attack was traced.

Big slides, is this the end of the road for it after law enforcement appear to have cracked it. No longer much use to it paedos, traffickers and hackers if that’s the case

CorkRed93

Slideways wrote: »

Things not looking good for Bitcoin after a large portion of the ransom for the pipeline ransomware attack was traced.

Big slides, is this the end of the road for it after law enforcement appear to have cracked it. No longer much use to it paedos, traffickers and hackers if that’s the case

Few understand

CorkRed93

I see Saylor is still embarrassing himself with his bitcoin nonsense. " remortgage your house to buy bitcoin" these people need to be locked up and mentally evaluated.

jobless

Slideways wrote: »

Things not looking good for Bitcoin after a large portion of the ransom for the pipeline ransomware attack was traced.

Big slides, is this the end of the road for it after law enforcement appear to have cracked it. No longer much use to it paedos, traffickers and hackers if that’s the case

lol, their are bigger problems if bitcoin has been 'hacked' as you put it.... secure web for a start...

KilOit

Slideways wrote: »

Things not looking good for Bitcoin after a large portion of the ransom for the pipeline ransomware attack was traced.

Big slides, is this the end of the road for it after law enforcement appear to have cracked it. No longer much use to it paedos, traffickers and hackers if that’s the case

Don't know much details but only way they could seize the Bitcoin is they sent it to an exchange and forced the exchange to lock the wallet etc

Slideways

Slideways wrote: »

Things not looking good for Bitcoin after a large portion of the ransom for the pipeline ransomware attack was traced.

Big slides, is this the end of the road for it after law enforcement appear to have cracked it. No longer much use to it paedos, traffickers and hackers if that’s the case

Everything is in trouble of the encryption was cracked so I don't think that happened