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Are we excited yet?

Nody

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Continuation of Is anyone else starting to become a bit excited?

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Potatoeman

It’s down from 54k a month ago to 36k but still up from 8k a year ago. Make of that what you will.

seannash

Donald Trump wrote: »

I was just asking genuine questions. To me this "hodl" seems to be a long term strategy.

"buying the dip" seems logical to me if you are looking short term or else know the asset is below its intrinsic value.

I don't see why someone would advise to do both?

For a long term position, especially in a volatile asset that I am, hypothetically, personally convinced is going up, why would I wait for a "dip" to buy?

BTCUSD is 44,240 now. If it jumps to 50,000 then I shouldn't buy because it's not a dip? But I believe it will go up and I want a long term asset. So I should wait until it jumps to 60,000 and "dips" back down to 58,000? Seems a bit contradictory to me.

At the risk of being dragged into this he probably means that if you posses a crypto that is currently falling dont panic sell(Hodl). Instead buy more while its dipping so you potentially reduce your initial buy in price if your buy in price was higher than the current value or buy the dip to increase the amount of a certain crypto you posess because its cheaper now.

This is all in the hopes it rises again.
I dont see how this is contradicting to be honest, most people on here dont just invest once and forget about it

This current price action is considered the dip, so buy the dip means buy it now

Donald Trump

FileNotFound wrote: »

I thought we were meant to be a helpful community here.

I was just asking genuine questions. To me this "hodl" seems to be a long term strategy.

"buying the dip" seems logical to me if you are looking short term or else know the asset is below its intrinsic value.

I don't see why someone would advise to do both?

For a long term position, especially in a volatile asset that I am, hypothetically, personally convinced is going up, why would I wait for a "dip" to buy?

BTCUSD is 44,240 now. If it jumps to 50,000 then I shouldn't buy because it's not a dip? But I believe it will go up and I want a long term asset. So I should wait until it jumps to 60,000 and "dips" back down to 58,000? Seems a bit contradictory to me.

FileNotFound

sparkletooth wrote: »

I'm laughing at you. Good luck man

I thought we were meant to be a helpful community here.

Donald Trump

sparkletooth wrote: »

I'm laughing at you. Good luck man

That's a "no" so. That's fine. I did think you would understand the question though as it's fairly basic. The type of thing that an entry level person should pick up within the first week anywhere near a desk.

You should understand some basics before investing, but it isn't against the law to do whatever you want with your own money.

Best of luck with your gambling dude. But hold off on encouraging others to do the same. You may not be lucky all the time. You likely won't be.

sparkletooth

Donald Trump wrote: »

So you don't even understand what I am asking?

Today is my first day posting on this forum, so no, I have not read your posts. Only the one I replied to that was advising people to "buy the dips" and "Hodl".

You may have mistaken buying into a volatile bubble and perhaps some luck (I am happy for you there) for having actual investment skill

I'm laughing at you. Good luck man

Mastroianni

buy VET

Donald Trump

sparkletooth wrote: »

Have you read any of my previous posts?

I'm warning against over trading which are all taxable events. I warned against using leverage which will get you rekt.

I don't see Crypto as a get rich scheme. And I only use cash to buy into dips. I'm not trading out of my positions in the middle of a bull market.

Again, you sound clueless.

So you don't even understand what I am asking?

Today is my first day posting on this forum, so no, I have not read your posts. Only the one I replied to that was advising people to "buy the dips" and "Hodl".

You may have mistaken buying into a volatile bubble and perhaps some luck (I am happy for you there) for having actual investment skill

sparkletooth

Donald Trump wrote: »

It was a simple question for you.

You base your trading strategies on backward looking data? For a relatively novel asset with no intrinsic value? You're working with real-world numeraires? Is there anything even forward looking that is available for crypto that you could be using?

To paraphrase Nassim Taleb, you sound like the fella who might think he is a genius for obliviously "picking up pennies in front of the steamroller"

You can speculate with your own money - do momentum trades or whatever you like. But you shouldn't be coming on an encouraging others to blindly "buy the dips" or "Hodl" ffs.

Have you read any of my previous posts?

I'm warning against over trading which are all taxable events. I warned against using leverage which will get you rekt.

I don't see Crypto as a get rich scheme. And I only use cash to buy into dips. I'm not trading out of my positions in the middle of a bull market.

Again, you sound clueless.

mdmix

I'm looking at getting a small defi loan. Anyone got any experience with Aave, comp or similar? Anything to worry about regarding liquidation?

Donald Trump

sparkletooth wrote: »

WTF are you talking about?

You sound clueless. Are you a trader?

It was a simple question for you.

You base your trading strategies on backward looking data? For a relatively novel asset with no intrinsic value? You're working with real-world numeraires? Is there anything even forward looking that is available for crypto that you could be using?

To paraphrase Nassim Taleb, you sound like the fella who might think he is a genius for obliviously "picking up pennies in front of the steamroller"

You can speculate with your own money - do momentum trades or whatever you like. But you shouldn't be coming on an encouraging others to blindly both "buy the dips" and "Hodl" ffs.

sparkletooth

Donald Trump wrote: »

So you cashed out at the top yourself and now have all that lovely fiat to pile back into BTC for the dips?

What price point are your forecasting/planning to buy back in at?

Do you do all your investing based on backward looking information?

WTF are you talking about?

You sound clueless. Are you a trader?

seannash

HGVRHKYY wrote: »

Would be interested to see the amounts of BTC, as in are they large holders or mostly small

Its just the total flow in, doesn't break it down by wallet address

I think he's on twitter, I follow him on Telegram

HGVRHKYY

seannash wrote: »

Cryptoquant just sent a notice out that the flow of bitcoin onto exchanges has increased

Would be interested to see the amounts of BTC, as in are they large holders or mostly small

Donald Trump

sparkletooth wrote: »

The problem is newbies don't look at charts or look at previous cycles.

We're ~6 months into a bull market (12 months after BTC's last halving). Fear index is high = opportunity

Suppress the ape brain and HODL. Buy the dips if you have anything left. NFA

So you cashed out at the top yourself and now have all that lovely fiat to pile back into BTC for the dips?

What price point are your forecasting/planning to buy back in at?

Do you do all your investing based on backward looking information?

[Deleted User]

Bob24 wrote: »

You said "400,000 bitcoin transactions a day compared to Visa alone which does over 150 million a day."

My post was explaining why those to things can't be compared as they are vastly different (as I explained Bitcoin can process those transaction on its own while Visa requires all the layers below it to exist, so those layers should be included in the energy footprint comparison).

Visa transactions doesn't exist without a settlement layer, which doesn't exist without a banking network, which doesn't exist without currencies, which don't exists without the gold industry, central banks, governemtns and armies to back them and make them trusted. Bitcoin transactions can exist independently from all of these.

You'd have the makings of a point if the vast majority of people didn't use said banking system to acquire or get rid of bitcoin. I would hope no one here would argue that bitcoin could survive without it.

And they are included. The electricity to even run the lights in every bank branch in the world are included in the banking system estimate.

Bob24

Deleted User wrote: »

What does all of that have to do with anything? We're talking about electricity costs and I'm pointing out that for twice the electricity, the regular banking system achieves a lot more. I used Visa as an example and you made the mistake of pouncing on it when it's a small percentage of banking transactions.

You were comparing "400,000 bitcoin transactions a day compared to Visa alone which does over 150 million a day."

My post was explaining why those 2 things can't be compared as they are rather different (as I explained Bitcoin can process those transaction on its own while Visa requires all the layers below it to exist, so those layers should be included in the energy footprint comparison).

Visa transactions don't exist without a settlement layer, which doesn't exist without a banking network, which doesn't exist without currencies, which don't exists without the gold industry (including production and custody), central banks, government treasuries and armies to back them and make them trusted. Bitcoin transactions can exist independently from all of these.

Again, from a philosophical or a technical point of view people might not like combining all these layers into one system and that is fine, but objectively if an energy footprint comparison has to be made it should be with a group of independent systems which together can achieve the same thing as Bitcoin independently (not with only part of those systems which could not function without the others). Of course it is a difficult comparison to make as it involves deciding what percentage of the footprint for the base layers is dedicated to supporting the top ones and this will be open to arguments, but assuming it is 0% clearly isn't the right answer.

[Deleted User]

Rob2D wrote: »

A common misconception. The current systems in place only make a note of a transaction. With the actual settlement happening later. Much later in some cases.

This is why when you tap your card in a shop for example, it doesn't appear on your balance for a couple days.

Even if it takes seventeen years to process a transaction, it's still the same amount per day.

Bob24 wrote: »

It would be a misunderstanding of what Bitcoin does to compare it to Visa only.

Visa is a payment network and does nothing more.

Bitcoin covers a lot more layers of the financial system: a hard asset (to be compared to gold), a convenient and trusted means of exchange (to be compared USD/EUR/etc), a custody system (to be compared to banks and vaults), a transaction signalling and settlement system (to be compared SWIFT/SEPA), and a payment layer (to be compared to Visa/Mastercard).

Visa is built on top of all the other layers and would not achieve anything without them, whereas with Bitcoin they are all built-in (people can discuss whether this is a good design and have different opinions, but objectively this is not comparable to Visa-only).

What does all of that have to do with anything? We're talking about electricity costs and I'm pointing out that for twice the electricity, the regular banking system achieves a lot more. I used Visa as an example and you made the mistake of pouncing on it when it's a small percentage of banking transactions.

sparkletooth

Meredith Rotten Tannery wrote: »

The problem is not that it has gone down a bit. The problem is why

The problem is newbies don't look at charts or look at previous cycles.

We're ~6 months into a bull market (12 months after BTC's last halving). Fear index is high = opportunity

Suppress the ape brain and HODL. Buy the dips if you have anything left. NFA

seannash

I'm not an advocate for TA in crypto but in this particular video he talks about a distribution schematic called the Wyckoff distribution that lines up with what the price action of bitcoin has been doing.
Have we been manipulated this whole time?
Interesting to see that someone worked out an optimal way to bleed money out of new investors.

The model shows it going to 28...... I dont have a clue if it will or wont to be honest.

https://www.youtube.com/watch?v=R1gSac_gUc8

FileNotFound

Meredith Rotten Tannery wrote: »

I picked the wrong time to start investing in crypto haha :pac:

Haha I am just starting myself, havent really done anything yet, so wondering if this might be an actual good thing for me.

Been watching the fall and wondering when a good time to but into Etheruem and Bitcoin would be. Dabble with these and maybe try a few others as people suggest...

weemcd

Meredith Rotten Tannery wrote: »

I picked the wrong time to start investing in crypto haha :pac:

Perhaps not... big discounts available today. BTC for example at it's lowest since February.

[Deleted User]

seannash wrote: »

Thats whats suggested, other theories are whales send it to exchanges to spook the market into selling.

I picked the wrong time to start investing in crypto haha :pac:

Bob24

Larbre34 wrote: »

It appears within minutes to hours.

Some payment/banking Apps are provisionally displaying the transaction as soon as the payment is made. But that transaction definitely isn’t settled within the timeframe you mention (I.e. the amount could change or the transaction could disappear for at least 2 days after the payment - and up to 30 days if the vendor choses to keep it on hold).

With bitcoin, the transaction and the settlement are essentially a single step. I.e. you are getting instant and final settlement as soon as the payment transaction is recorded.

seannash

FileNotFound wrote: »

Will this mean continues fall in price?

Thats whats suggested, other theories are whales send it to exchanges to spook the market into selling.

Blazer

circadian wrote: »

You do realise that blockchain technology has many potential uses that aren't tied to financial use cases, don't you?

This is no different from everyone buying shares in biopharma companies who have no product and just concepts. A lot of it is speculation, but there are crytpocurrencies that have actual real world use cases based on their blockchain.

exactly..its already being linked to automation and will be bigger over the course of the next few years..

https://www.redwood.com/article/blockchain-and-automation-a-perfect-match/

FileNotFound

seannash wrote: »

Cryptoquant just sent a notice out that the flow of bitcoin onto exchanges has increased

Will this mean continues fall in price?

Timmaay

weemcd wrote: »

The one thing I've noticed in the last few months is, this market loves recoveries. I've lost count on the number of shake outs in the past 3 weeks alone. Big dumps followed by green candles everywhere within 48 hours.

It'll make a lot of people nervous but if you hold I think you can still take massive gains. At some point there will be a huge correction, not these bi-weekly small dumps.

Trillion dollar question is when. I think the bull run continues through the rest of this year. Purley speculation on my part.

I'm not gonna lie I'm continuing to take profits and convert crypto into stablecoins, however days during large FUD like this weekends sh1te aren't the time, instead I'll way for more of them wild green days. I'll still let the likes of 1/3 of my 5 main crypto coins run, but I'll happily take profit's on the rest of my 5x return.

seannash

Cryptoquant just sent a notice out that the flow of bitcoin onto exchanges has increased

[Deleted User]

Larbre34 wrote: »

What a bust this now is.

As the world looks again at commodities to fuel the stimulus of new growth, the absolute absence of a 'store of value' in crypto is dawning on investors.

Between that and the increasing default association with criminality and environmental destruction, well, this monkey has gone to heaven.

You do realise that blockchain technology has many potential uses that aren't tied to financial use cases, don't you?

This is no different from everyone buying shares in biopharma companies who have no product and just concepts. A lot of it is speculation, but there are crytpocurrencies that have actual real world use cases based on their blockchain.