R.I.P. Bitcoin - $19,158.35 and falling fast

[Levent]

Good, I am buying $5 worth every day it continues to drop.

[12345678]

who cares, as long you can get money out of it

[Avocado Diaboli]

On 6/19/2022 at 3:43 AM, Bitter said:

it'll have value again for the same reasons it had value in the first place whatever reasons those were.

Am I the only one who finds the unwillingness to examine those reasons any further kinda curious? Because this sounds like an abused spouse returning back to their tormentor in the hopes of recapturing the magic of the original honeymoon period while ignoring all the warning signs.

[Bitter]

39 minutes ago, Avocado Diaboli said:

Am I the only one who finds the unwillingness to examine those reasons any further kinda curious? Because this sounds like an abused spouse returning back to their tormentor in the hopes of recapturing the magic of the original honeymoon period while ignoring all the warning signs.

Frankly I don't understand all the money mumbo jumbo, goes right over my head like theoretical mathematics. Money goes up, money goes down. Politics swing right, politics swing left. Ebb and flow. The cycle continues.

[MageTank]

"Just buy the dip" - Some guy.

[Poinkachu]

1 hour ago, Avocado Diaboli said:

Am I the only one who finds the unwillingness to examine those reasons any further kinda curious? Because this sounds like an abused spouse returning back to their tormentor in the hopes of recapturing the magic of the original honeymoon period while ignoring all the warning signs.

Belief, Denial, Trust/Distrust, Paranoia

[Beerzerker]

19 hours ago, 12345678 said:

who cares, as long you can get ripped off.

Fixed that for you.

Be a sheep and a sheared one if you like for their (Not your own) profit, I'll pass on that.

[RasmusDC]

it is just fun, how all this can work..

 

I still grasp my head around the whole crypto scene, and hope it burns to ground, because of what it represents, the amounts of wasted energy pumped into creating something virutal, so simply wasted power and pollution, without an ACTUAL product.

 

at least even though money is just paper, it still have substance, because of the countries that put their stake behind it.. and NFT´s that just.. makes me want to scream.

 

So i am sorry, i LOVE this, because it is all just a pyramid setup that now might be falling, maybe it can get kickstarted, maybe you can get it working again, but it will always be borrowed time..

 

Do i love people getting hurt in this, of course not, but to be honest, they took a choice they invested in something as fragile, so that money is lost. 

 

had it differently with the people that got trashed in the American housing marked in the 7-8´s.. but this.. i hope it creates an end to virtual coin.

 

maybe there is a better financial setup, i don´t know.. but this does not seem to be one that works.

[Poinkachu]

6 minutes ago, RasmusDC said:

it is just fun, how all this can work..

 

I still grasp my head around the whole crypto scene, and hope it burns to ground, because of what it represents, the amounts of wasted energy pumped into creating something virutal, so simply wasted power and pollution, without an ACTUAL product.

 

at least even though money is just paper, it still have substance, because of the countries that put their stake behind it.. and NFT´s that just.. makes me want to scream.

 

So i am sorry, i LOVE this, because it is all just a pyramid setup that now might be falling, maybe it can get kickstarted, maybe you can get it working again, but it will always be borrowed time..

 

Do i love people getting hurt in this, of course not, but to be honest, they took a choice they invested in something as fragile, so that money is lost. 

 

had it differently with the people that got trashed in the American housing marked in the 7-8´s.. but this.. i hope it creates an end to virtual coin.

 

maybe there is a better financial setup, i don´t know.. but this does not seem to be one that works.

Think of it like a cult.

Not all cult members can get out of it, even after being pointed out the truth.
Either because of paranoia or denial, or simply because "I'm already knee-deep in this, may as well fool myself and go all in, hopefully a miracle does happen"

And some cult members are more than willing to drink a poison laced drink due to blind faith.

I mean, calling it decentralized & stable currency while a single tweet from someone with clout can drive it up and down like a roller coaster...
And still tethered to standard currency.

[Neroon]

2 hours ago, Avocado Diaboli said:

Am I the only one who finds the unwillingness to examine those reasons any further kinda curious? Because this sounds like an abused spouse returning back to their tormentor in the hopes of recapturing the magic of the original honeymoon period while ignoring all the warning signs.

I don't know how it goes for most of the world, but here your wallet is connected to you as a person, the government gets the info they need.

 

Now sure you can get a completely anonymous wallet, and they are heavily used for criminal stuff, ranging from drugs, to child pornography, guns and hitmen.

 

Worldwide governments won't allow crypto to work as intended, simply because it would be massively used for everything they deem illegal (incl like tax evasion).

 

In the end everything about it got corrupted, used for illegal stuff, controlled to a degree by governments, and traded for the purpose of effectively a massive scam.

[wasab]

Doesn't matter. Bitcoin will either moon or outright crash. I bet it will moon when I made my investment. If it doesn't and crashes, I am willing to pay the price for it. Risk vs reward. See you on the moon on a rocket ship or back on Earth on a crashed ship. 

[SimplyChunk]

where are you all getting your numbers from?  Google still has it at 20k?

 

Scratch that.  I didn't realise this thread was so old

[Neroon]

4 hours ago, wasab said:

Doesn't matter. Bitcoin will either moon or outright crash. I bet it will moon when I made my investment. If it doesn't and crashes, I am willing to pay the price for it. Risk vs reward. See you on the moon on a rocket ship or back on Earth on a crashed ship. 

Moon? You think going 65k wasn't already going to the moon... sheesh.

[wasab]

4 hours ago, Neroon said:

Moon? You think going 65k wasn't already going to the moon... sheesh.

I brought at the peak

[Neroon]

4 hours ago, wasab said:

I brought at the peak

Sounds like you were already on the moon, but you didn't know it.

[Bitter]

Yeah big ouch. I bought a small amount of a couple when they were too high too, not every buy is a win. It can happen in the stock market too, housing, cars, etc. Easy to get swept up.

[TetraSky]

It's unfortunately going back up... 

[wasab]

32 minutes ago, TetraSky said:

It's unfortunately going back up... 

Unless your cost basis is less than 20k, you are at a net loss here. 

[Sprawlie]

6 hours ago, wasab said:

I brought at the peak

Yes, I Too subscribe to the investment advice of buy high and sell low.

[wasab]

2 minutes ago, Sprawlie said:

Yes, I Too subscribe to the investment advice of buy high and sell low.

Welcome to the club!

[Avocado Diaboli]

15 hours ago, wasab said:

Doesn't matter. Bitcoin will either moon or outright crash. I bet it will moon when I made my investment. If it doesn't and crashes, I am willing to pay the price for it. Risk vs reward. See you on the moon on a rocket ship or back on Earth on a crashed ship. 

Do you know what "going to the moon" even means for cryptocurrencies? Rapid deflation of the "currency". Which any economist will tell you is just as bad as hyperinflation. You're still playing the "bigger fool" game, where you're trying to find the bigger fool that will eventually buy the inherently worthless thing you bought at a higher price. And since you admittedly bought in at the peak, you are one of the biggest fools of them all, since you fell for the propaganda hard. The only thing left to you now is basically the five stages of grief.

 

1 hour ago, Bitter said:

Yeah big ouch. I bought a small amount of a couple when they were too high too, not every buy is a win. It can happen in the stock market too, housing, cars, etc. Easy to get swept up.

I can't understand this insistence of comparing cryptocurrencies with stocks, real estate or cars. If your investment in any of those latter examples fails, you still have something tangible like an actual house or a car at the end of it. Even with a stocks, you still have a company with assets that can be liquidated to recoup some of the loss. Cryptocurrencies don't have that, they will never have that.

[Yoinkerman]

I wanted to cash out at 40k and buy a car.  Guess I'm still waiting lol

[Bitter]

3 hours ago, Avocado Diaboli said:

Do you know what "going to the moon" even means for cryptocurrencies? Rapid deflation of the "currency". Which any economist will tell you is just as bad as hyperinflation. You're still playing the "bigger fool" game, where you're trying to find the bigger fool that will eventually buy the inherently worthless thing you bought at a higher price. And since you admittedly bought in at the peak, you are one of the biggest fools of them all, since you fell for the propaganda hard. The only thing left to you now is basically the five stages of grief.

 

I can't understand this insistence of comparing cryptocurrencies with stocks, real estate or cars. If your investment in any of those latter examples fails, you still have something tangible like an actual house or a car at the end of it. Even with a stocks, you still have a company with assets that can be liquidated to recoup some of the loss. Cryptocurrencies don't have that, they will never have that.

I was saying that anyone can get caught up and buy at the wrong time when prices are near peak or at peak, nothing else.

[12345678]

On 6/20/2022 at 3:21 PM, Beerzerker said:

Fixed that for you.

Be a sheep and a sheared one if you like for their (Not your own) profit, I'll pass on that.

oh well other markets are like so too

 

just look at every hifi or gaming crap around here

 

[Neroon]

22 hours ago, TetraSky said:

It's unfortunately going back up... 

Drop, trading sideways, drop, trading sideways, drop and we will see what's next.