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

HillCloudHop · 12-06-2021 2:59pm

Irish_rat wrote: »

It does appear a lot of money is leaving the market, bear incoming?

I really hope so. Bear markets are the best time to buy.

Mastroianni · 12-06-2021 9:43pm

Badly fukt wrote: »

You must be new to this! Hodl

will I hold too? to trading, no theter, just hold an pray the god of crypto (which is an a$$hole)?

antimatterx · 20-06-2021 3:34pm

Grim out there...

fritzelly · 20-06-2021 4:26pm

Rekt showing a LOT of liquidated longs

bosco12345 · 20-06-2021 4:39pm

Crypto would have you in the absolute pits

massdebater · 20-06-2021 7:31pm

Unless you need to sell soon, you'll only wreck your head checking it constantly. At least the stock market closes for the weekend.

Jeff2 · 20-06-2021 9:15pm

bosco12345 wrote: »

Crypto would have you in the absolute pits

ETH

namloc1980 · 21-06-2021 8:57am

Big drops all round over night and this morning.

Jackben75 · 21-06-2021 10:18am

China fud and manipulation of course:pac:

Chris_5339762 · 21-06-2021 11:31am

I'm now down 33% in my first little crypto portfolio. I was promised to be up at least 3,000% by now.

I shall continue to wait for the amazing recovery and will hand my notice into my boss in anticipation of riches.

seannash · 21-06-2021 6:12pm

Chris_5339762 wrote: »

I'm now down 33% in my first little crypto portfolio. I was promised to be up at least 3,000% by now.

I shall continue to wait for the amazing recovery and will hand my notice into my boss in anticipation of riches.

Who promised you those returns

iwillhtfu · 21-06-2021 6:34pm

seannash wrote: »

Who promised you those returns

*Sarcasm

ShaneU · 22-06-2021 12:30am

bleak

grindle · 22-06-2021 7:38am

50% haircut. Not bleak enough, there's still hope on the subreddits. Just you wait until it's a solid 12 months of depression and suicide memes.

FileNotFound · 22-06-2021 7:56am

Whats the thoughts on how low this drop may go?

HillCloudHop · 22-06-2021 8:22am

Sub 20k at least

FFVII · 22-06-2021 11:14am

18000 is as low as it can go apparently without system collapse. Dunno how they worked that out.

LuckyLloyd · 22-06-2021 11:53am

FFVII wrote: »

18000 is as low as it can go apparently without system collapse. Dunno how they worked that out.

18.5k
That’s where the Thether ponzi will implode, apparently

FileNotFound · 22-06-2021 2:14pm

It's like a lead balloon at the moment

Donald Trump · 22-06-2021 2:24pm

Someone answered a question I asked a few weeks ago to say that there were liquid option markets for bitcoin. What are those markets saying at the minute? What would you be paying for ATM put protection on your current position say 6 months out? The vol has to be mad high anyway one would imagine

sparrowcar · 22-06-2021 2:53pm

This is a fairly significant drop.... interesting few days ahead.

grindle · 22-06-2021 8:56pm

Donald Trump wrote: »

Someone answered a question I asked a few weeks ago to say that there were liquid option markets for bitcoin. What are those markets saying at the minute? What would you be paying for ATM put protection on your current position say 6 months out? The vol has to be mad high anyway one would imagine

https://www.bybt.com/LongShortRatio

Playing BTC options 6 months in advance like it's a stock with a productive output is truly insane, I'd doubt if many or any (without a suicide wish) do that at all. Best to keep to monthlies at the very most, the landscape can change drastically in 7-14 days.

Donald Trump · 22-06-2021 10:59pm

grindle wrote: »

https://www.bybt.com/LongShortRatio

Playing BTC options 6 months in advance like it's a stock with a productive output is truly insane, I'd doubt if many or any (without a suicide wish) do that at all. Best to keep to monthlies at the very most, the landscape can change drastically in 7-14 days.

Well the idea of buying protection wouldn't be insane. However, I'd imagine it's prohibitively expensive and would be kinda my point.

What I see on here are some posters who are certain that BTC is going to be back up at, and have surpassed, X before the end of the year. Now, I obviously don't agree with that unwavering certainty. I don't have to know a lot about cryptocurrencies to have that position. There are markets where you do get a negative forward vol (i.e. commodities) but I would not expect that here. If the market is pricing in a large risk of something being far from where a person thinks it is going, then it can be useful for them to realise that

grindle · 23-06-2021 12:46am

Donald Trump wrote: »

Well the idea of buying protection wouldn't be insane. However, I'd imagine it's prohibitively expensive and would be kinda my point.

What I see on here are some posters who are certain that BTC is going to be back up at, and have surpassed, X before the end of the year. Now, I obviously don't agree with that unwavering certainty. I don't have to know a lot about cryptocurrencies to have that position. There are markets where you do get a negative forward vol (i.e. commodities) but I would not expect that here. If the market is pricing in a large risk of something being far from where a person thinks it is going, then it can be useful for them to realise that

Given history (and I don't particularly want BTC to be higher, it gets higher based on brand hype and being an inflation sponge - government prints money, Bitcoin goes up), I think it goes up.
Something could destroy that. But hasn't yet. Putting in a failsafe amount of money as collateral so your bets don't get swallowed by crypto is basically at least 90% of your money given how far this could fall. without a 10:1 ratio for what you're gambling, could be gone in a month.
I'll echo sentiments elsewhere on the forum and say that ETH @ 300-500 is "fair pricing". The lowest price at which the crypto's price sustains itself through actual use without hype is it's fair price. 300-400 is normal network usage with full blocks.
Does BTC deserve 60k? It doesn't deserve 3k, but enough people believe it deserves it 10k-20k that they'll buy the sh!t out of it, so what do I know?

Donald Trump · 23-06-2021 12:50am

grindle wrote: »

Given history (and I don't particularly want BTC to be higher, it gets higher based on brand hype and being an inflation sponge - government prints money, Bitcoin goes up), I think it goes up.
Something could destroy that. But hasn't yet. Putting in a failsafe amount of money as collateral so your bets don't get swallowed by crypto is basically at least 90% of your money given how far this could fall. without a 10:1 ratio for what you're gambling, could be gone in a month.
I'll echo sentiments elsewhere on the forum and say that ETH @ 300-500 is "fair pricing". The lowest price at which the crypto's price sustains itself through actual use without hype is it's fair price. 300-400 is normal network usage with full blocks.
Does BTC deserve 60k? It doesn't deserve 3k, but enough people believe it deserves it 10k-20k that they'll buy the sh!t out of it, so what do I know?

How much of "government prints money, Bitcoin goes up" is attributable to people making an actual deliberate inflation hedge and how much of it was the US man-on-the-street lobbing their stimulus "check" into the hype-of-the-day for FOMO?

I'd imagine that the latter had a good bit to do with any run over the last 12 months.

But anyway, that is a digression from the point that the market would demand a high price to "insure" a current position against losses. That is the case for a reason. Not because they think it won't go up but because of the risk it will plummet. risk=uncertainty

grindle · 23-06-2021 12:54am

Much more. Totally get that. The everyman who doesn't give a crap jumping into what is from their PoV a ponzi is probs the majority of newcomers to the market.

The ideological people are in the vast minority.

28-06-2021 10:06pm

Vice suggesting crypto should be banned/regulated due to it's involvement in cyber crime

https://www.youtube.com/watch?v=vQLBC7wbvrA

cnocbui · 28-06-2021 11:52pm

I think the entire road network should be ripped up because nearly every criminal uses roads to get about on so they can commit crimes.

99.99% of crime involves fiat currency, so money should just be banned.

HGVRHKYY · 29-06-2021 12:44am

cnocbui wrote: »

I think the entire road network should be ripped up because nearly every criminal uses roads to get about on so they can commit crimes.

99.99% of crime involves fiat currency, so money should just be banned.

Criminals think about committing crimes - no thinking, no crimes. Ban thinking!

29-06-2021 12:51am

I know why its nonsense. But enough continuous noise could lead to regulation regardless.

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

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