Is anyone else starting to become a bit excited?

Mellor · 22-01-2021 12:04AM

Irish_rat wrote: »

Sold some ETH, tempted to buy back now. Is this red going to continue

If anyone knew it it was going to continue that be a millionaire very quickly

Mellor · 22-01-2021 12:12AM

BrandonBay86 wrote: »

So tell me, which way is the market going to go over the next few months / rest of the year ? In your opinion.

In the short term? I have no idea. There are far too many variables.
Nobody knows what will happen in the short term. Anyone who claims to know is lying, or worse deluded by the believe they know more than they do.

grindle wrote: »

Anybody who bought without a good idea of past performance (including drops) or who's bought without giving a toss about what a genesis block even is has chosen the path of a pure gamble. If they sell and lose money after buying the top they've chosen and deserve to lose that money.

A pure gamble will describe many many people who bought in the last month.
Any one who knows about past performance, rises as well a drops, will have expected something like this to happen. If expect, why would you jump in at the top?

Anyone who bought at the ATH made a mistake, and could have gotten a much better price. That's with the benefit of hindsight, but very hard to argue otherwise at this point.

BrandonBay86 · 22-01-2021 12:17AM

Mellor wrote: »

In the short term? I have no idea. There are far too many variables.
Nobody knows what will happen in the short term. Anyone who claims to know is lying, or worse deluded by the believe they know more than they do.

A pure gamble will describe many many people who bought in the last month.
Any one who knows about past performance, rises as well a drops, will have expected something like this to happen. If expect, why would you jump in at the top?

Anyone who bought at the ATH made a mistake, and could have gotten a much better price. That's with the benefit of hindsight, but very hard to argue otherwise at this point.

Anyone who bought at the ath made a mistake ? Do you realise how many all time highs there has been since inception?

grindle · 22-01-2021 12:22AM

Mellor wrote: »

Anyone who bought at the ATH made a mistake, and could have gotten a much better price. That's with the benefit of hindsight, but very hard to argue otherwise at this point.

Guessing where the top might be is as cryptic as guessing the bottom. Somebody might get within 10-20% of it but just as much as I was waiting on a drop - and this one is still nowhere near as severe as I want it to be - it could have rallied to $60k.
If somebody bought in thinking "Eh, eventually it'll be higher" they're probably right, be patient. If somebody bought in thinking "It'll never stop rising and I can buy a superyacht next month, WOOOOOOOOOO!!! wtaf is a satoshi?"...
Screw that second bunch, if they lose money it'll be their choice.

bfa1509 · 22-01-2021 12:41AM

How incredibly annoying is it that news of a potential double spend and the Biden admin. witch hunt announcement would happen on the same day...

If it was just the double spend news alone do people think a lot would have transferred to alt coins rather than out of crypto altogether?

Mellor · 22-01-2021 12:44AM

BrandonBay86 wrote: »

Anyone who bought at the ath made a huge mistake ? Do you realise how many all time highs there has been since inception?

Re-read what I actually said. And don’t misrepresent my posts. I used basic English, it’s not complicated.

maninasia · 22-01-2021 12:46AM

Mellor wrote: »

Any one who knows about past performance, rises as well a drops, will have expected something like this to happen. If expect, why would you jump in at the top?

Anyone who bought at the ATH made a mistake, and could have gotten a much better price. That's with the benefit of hindsight, but very hard to argue otherwise at this point.

If short term, it's pain.
But as long as they do a long term hold and keep DCAing in a multi year period, they'll make very good money.. ..And there's a good chance we will see new highs this year, I don't think they will be waiting like the situation Dec 2017 to now.

The main reason I stepped back from the market now is tether probably can't print when they are under investigation.

TXPTGR1 · 22-01-2021 12:47AM

bfa1509 wrote: »

How incredibly annoying is it that news of a potential double spend and the Biden admin. witch hunt announcement would happen on the same day...

If it was just the double spend news alone do people think a lot would have transferred to alt coins rather than out of crypto altogether?

I’d say it’s people doing their own research and realising Bitcoin is useless and that a lot of the big players pumping it are shady proven scammers who keep moving the goalposts on what Bitcoin is on a desperate attempt to get more fools in to keep the scam rolling

BrandonBay86 · 22-01-2021 01:02AM

TXPTGR1 wrote: »

I’d say it’s people doing their own research and realising Bitcoin is useless and that a lot of the big players pumping it are shady proven scammers who keep moving the goalposts on what Bitcoin is on a desperate attempt to get more fools in to keep the scam rolling

Will be fun to see this account disappear along with others when Bitcoin his $50,000 soon. Your blood will be boiling.

jimmii · 22-01-2021 01:17AM

BrandonBay86 wrote: »

Will be fun to see this account disappear along with others when Bitcoin his $50,000 soon. Your blood will be boiling.

Its the same evey time there's a drop. When it hits 50k then drops to 40k they'll be back when it hits 99k and then drops to 70k they'll be back saying the same things and if it does hit 500k wait till it drops to a mere 400k guess what? They'll be back to say I told you so! Rinse and repeat every time best just to ignore it.

bfa1509 · 22-01-2021 01:18AM

BrandonBay86 wrote: »

Will be fun to see this account disappear along with others when Bitcoin his $50,000 soon. Your blood will be boiling.

Funny how they only appear after a correction/short term selloff but never during a bull cycle...

This is only a three week setback.

Mellor · 22-01-2021 01:18AM

grindle wrote: »

Guessing where the top might be is as cryptic as guessing the bottom. Somebody might get within 10-20% of it but just as much as I was waiting on a drop - and this one is still nowhere near as severe as I want it to be - it could have rallied to $60k.

Absolutely, I'm not suggesting that it's easy, or even possible to know where the turning point are in real time. But we can know with hindsight.

The point was that if people are going use historical prices (or go to the genesis block :rolleyes: ) as an example of good moves. Then that opens up the option to pick the not so good moves, using the same logic. Otherwise is completely hypocritical.

Anyone who bought in a rush in early jan, would have been better off waiting till now, or later. Pretty simple idea, and a lot more relevant to the current market than the genesis block.

maninasia wrote: »

If short term, it's pain.
But as long as they do a long term hold and keep DCAing in a multi year period, they'll make very good money.

The question I was asked was about short term though.

TXPTGR1 · 22-01-2021 01:21AM

jimmii wrote: »

Its the same evey time there's a drop. When it hits 50k then drops to 40k they'll be back when it hits 99k and then drops to 70k they'll be back saying the same things and if it does hit 500k wait till it drops to a mere 400k guess what? They'll be back to say I told you so! Rinse and repeat every time best just to ignore it.

:pac: he thinks it’s going to 500K- bless

22-01-2021 01:24AM

TXPTGR1 wrote: »

:pac: he thinks it’s going to 500K- bless

To be fair, 500k is only an order of madness compared to $40k when it was initially floated as a fraction of $.01.

jimmii · 22-01-2021 01:30AM

[Deleted User] wrote: »

To be fair, 500k is only an order of madness compared to $40k when it was initially floated as a fraction of $.01.

You know this is you saying its going to be 1c soon now right? This is how words work in their heads! You're better off just finding it amusing when they do pop by they're gone quick enough.

BrandonBay86 · 22-01-2021 01:34AM

Have just discovered the ignore button

Mellor · 22-01-2021 01:52AM

Deleted User wrote: »

To be fair, 500k is only an order of madness compared to $40k when it was initially floated as a fraction of $.01.

People don't understand how it works. Market, real $$ invested, etc. To them 500k is a bit number and that's that.

Mucashinto · 22-01-2021 02:09AM

Thargor · 22-01-2021 02:26AM

Sickening to see but the suggestion that this is the end and we'll never see an ATH again in BTC or ETH is laughable.

makeorbrake · 22-01-2021 04:39AM

unkel wrote: »

You can cash out as quickly to USD or EUR as you can cash out to USDT, no?

The speed at which this can be done will vary globally. On that same basis, the tax implications will vary and the regulation will vary. Off the back of that, there's no doubt but that there's a real market for stablecoins regardless of Tether/Bitfinex (alleged) antics.

BrandonBay86 wrote: »

Years ago? The gains you missed out on despite apparently knowing what Bitcoin is. 600% in the last year alone. Great woman for the advice.

In fairness, I dont think trading out/in works out for the vast majority of people. I've been doing it - and I've come out the right end of it so far but more by good luck than anything else. Had I maintained my original holding, I'd be a tad better off. I've no regrets with that as having to maintain a disproportionately larger position would have been difficult to live with through the troughs. However, I would like to change tact at some stage and go with dollar cost averaging. I really think its a rare individual who can time any market - let alone crypto.

Mellor wrote: »

People don't understand how it works. Market, real $$ invested, etc. To them 500k is a bit number and that's that.

I recall conversations in late 2019 where people pondered where would the new $ come from to get to $20k. It's a very valid point. At the end of the day, it goes back to fundamentals. If that thesis continues to check out, then there should be ongoing acceptance/adoption and an ever expanding network effect . The supply side is supreme for bitcoin - it's more finite than gold. If you see ongoing progress in terms of the expansion of that network effect, then that will be the driver towards higher price points.

As for our new troll, has anyone told him he's a bear that's come out of hibernation a year too early?

The same tired old arguments interspersed with calling folks 'morons' and 'fools'. ..pitiful stuff.

unkel · 22-01-2021 10:33AM

makeorbrake wrote: »

The speed at which this can be done will vary globally. On that same basis, the tax implications will vary and the regulation will vary. Off the back of that, there's no doubt but that there's a real market for stablecoins regardless of Tether/Bitfinex (alleged) antics.

You mean people think that if they keep their money on the exchange in the form of stable coins, rather than transferring fiat back into their bank account, that they can hide from the tax man better? :pac:

Bruno Mannheim · 22-01-2021 11:13AM

unkel wrote: »

You mean people think that if they keep their money on the exchange in the form of stable coins, rather than transferring fiat back into their bank account, that they can hide from the tax man better? :pac:

I'd prefer it back in my account than leave it on an exchange in a stable coin that can potentially be hacked

Whats the big issue with paying the tax people?

If you're paying tax, you are making money.

I'd be spending more of my time working out my exit strategy than what my tax liability is. Dont wait until the time comes because you could be left holding the baby

False Prophet · 22-01-2021 11:23AM

Thargor wrote: »

Sickening to see but the suggestion that this is the end and we'll never see an ATH again in BTC or ETH is laughable.

Never see is a long time but its very possible that tether time bomb blows which would knock the market back for maybe 3 years+.

Say it takes down 1 or more of the big exchanges you could be looking at years of recovery.

Especially if the likes of USA and EU start putting more laws/regulation etc in place.
If ripple loses case around same time, that will also not help the cryptocurrency market

As always , only invest what you are willing to lose or that you can hold for 3+ years and possible even wait longer for the likes of crypto outside the big 2.

makeorbrake · 22-01-2021 11:26AM

unkel wrote: »

You mean people think that if they keep their money on the exchange in the form of stable coins, rather than transferring fiat back into their bank account, that they can hide from the tax man better? :pac:

Hopefully not.

But in the overseas context of non-kyc'ed exchanges, it's likely to be playing a role (ethics aside).

Bruno Mannheim wrote: »

I'd prefer it back in my account than leave it on an exchange in a stable coin that can potentially be hacked

Then don't leave it on an exchange :-)

Bruno Mannheim wrote: »

Whats the big issue with paying the tax people? If you're paying tax, you are making money.

Everybody has a duty to pay their taxes. Beyond that though, I'd say that handing over a third of a gain achieved that you've had to take considerable risk for seems excessive. The post-2008 level of 20% sounds much more equitable to me.

deathbomber · 22-01-2021 11:37AM

False Prophet wrote: »

Never see is a long time but its very possible that tether time bomb blows which would knock the market back for maybe 3 years+.

Say it takes down 1 or more of the big exchanges you could be looking at years of recovery.

Especially if the likes of USA and EU start putting more laws/regulation etc in place.
If ripple loses case around same time, that will also not help the cryptocurrency market

As always , only invest what you are willing to lose or that you can hold for 3+ years and possible even wait longer for the likes of crypto outside the big 2.

Personally i think the market will last until at least year end, XRP is a rubbish project, always has been, based around hype, nothing else, they don't even use the actual token just the ripple network itself.
Eth will continue it's uptrend, really believe it will hit 10k over the coming years, if not sooner. Many projects are flourishing and will continue to do so. Difficult to predict the BTC direction though, i personally see a decoupling occuring, already started in a way.

Bruno Mannheim · 22-01-2021 02:43PM

makeorbrake wrote: »

Everybody has a duty to pay their taxes. Beyond that though, I'd say that handing over a third of a gain achieved that you've had to take considerable risk for seems excessive. The post-2008 level of 20% sounds much more equitable to me.

Agree its steep and excessive

There are less riskier ways to invest but the gains are nowhere near as potentially high in such a short duration

Bruno Mannheim · 22-01-2021 04:24PM

LFG ETH

Dohnjoe · 22-01-2021 04:30PM

Good to see BAT finally showing some signs of life. Not a huge move, but going in the right direction.

cnocbui · 22-01-2021 04:31PM

LPG KYC FPG POS

Mucashinto · 22-01-2021 04:34PM

Bruno Mannheim wrote: »

LFG ETH

Would really like to see this talked about 'decoupling' from BTC with other coins happening now. Certainly looks like a lot of the alt coins/eth/defi are talking back gains at a much better rate than BTC atm.

PITA that when BTC was rising it didn't seem to drag all the coins, yet when it drops everything tanks :rolleyes: Anyway, I choose to believe the famed 'alt season' is here

Is anyone else starting to become a bit excited?

Comments