Bitcoin is now worth 8.500$ just lmao at buying at 20k

[wisdommaster1]

in on 10 page thread of people who don't know anything about economics explain everything about economics

[ChristianMR]

No one should be buying today. No one.

There is evidence that the price was propped up by fraud from Tether/Bitfinex. That's one reason why it's dropping now. https://www.theverge.com/2018/1/30/1...aud-suspicions.

[residesinAZ]

Yeah crypto currencies are volatile. That's the nature of the beast.

The gains are in other coins, not so much bitcoin. If you only know the names of a few crypto currencies then I've got some bad news.

Are you not aware of the chit show that is the OTC markets? Its the same thing there "The real money is in penny stocks". BRB better luck putting it all on black.
Most altcoins are trash and with a new one popping up every day, lol if you think they're worth the bits they're coded on.

[JoshSP1985]

lol this chart again, we haven't even hit the public phase.

Bro I had random people that work in our warehouse asking me about bitcoin because they think I'm some super IT nerd. It definitely hit public.

[LFAesthetics]

if you find projects that won't be dependent on bitcoin once its decoupled and have an proposed intrinsic value based on it's use case, and not on how bitcoin is doing this market is no less of a scam than the stock market.

I think that we still need to purge a large % of these companies that really offer nothing other than a token with use cases that won't ever pull enough revenues to have a decent P/E ratio for its current speculative value. If you can't find math that supports what the coin could be worth based off it's use case, its not worth touching for anything other than a swing trade.

any prices discussed like " x coin is worth this much marketcap, means that y coin could be worth it too!" is most likely going to fall considerably whenever they launch a product and investor realize what kind of ROI they could actually get.

[Tuga88]

Lets be reality...anyone who bought in at 20k is an idiot and if they didn't get into bitcoin they would have just ended up losing their money somewhere else.

[AWillis]

where is the miscer that said it would hit $500k for one BTC.. it might but it ain't looking good right now

[WrestlingFan123]

Bro I had random people that work in our warehouse asking me about bitcoin because they think I'm some super IT nerd. It definitely hit public.

How many of those randoms own coins?

[WrestlingFan123]

in on 10 page thread of people who don't know anything about economics explain everything about economics

Economics and STEM mechanical engineering master race checking in.

[residesinAZ]

How many of those randoms own coins?

This is well into public knowledge and media attention phase, you can't be serious right now.

[WrestlingFan123]

This is well into public knowledge and media attention phase, you can't be serious right now.

That chart represents public participation in the market. Most don't even know how to buy altcoins right now, less than 3% of the US is invested.

[YungSodomy]

That chart represents public participation in the market. Most don't even know how to buy altcoins right now, less than 3% of the US is invested.

Whether or not they know how to actually buy the coins is irrelevant. Once you appear on a national commercial for Carl's Jr, you are public af.

Bitcoin futures was just the icing on the cake. Most anyone with any semblance of common sense or knowledge of how markets worked knew it was going to peak right when wallstreet got involved. Problem is 85 percent of the plebs that got involved on that epic 1 month run up don't have any knowledge of how markets (and particularly the crypto market) work.

But hey, that's not my problem lol. Thanks for the 40k cash out on a 5k investment in LTC brahs. Easiest 7 week flip of my life mane. And I'll be doing it all over again.

[residesinAZ]

That chart represents public participation in the market. Most don't even know how to buy altcoins right now, less than 3% of the US is invested.

Oh right, because that's where the real value is. Dogecoins and misccoins. When garbage penny stock companies PR that they're getting involved in crypto to sell shares, you know the ship has sailed.

[Kev1972]

Are you not aware of the chit show that is the OTC markets? Its the same thing there "The real money is in penny stocks". BRB better luck putting it all on black.
Most altcoins are trash and with a new one popping up every day, lol if you think they're worth the bits they're coded on.

Guy I used to work with at a tech startup sunk all his employee stock offering money and mortgaged his house to put it all in some penny stock. Was telling everyone who would listen about what a great opportunity it was. Our startup company turned into a fortune 500 company and if he would have held those stocks he'd have been a millionaire. He lost his house and his family on the penny stock.

Bitcoins are a worse investment than penny stocks by far. At least penny stocks are actual companies that provide tangible goods and services.

[ymer]

in on 10 page thread of people who don't know anything about economics explain everything about economics

Well bitcoin has nothing to do with economics or investments, it's just a zero sum game where a bunch of smart people coax a lot of dumb greedy people.

[residesinAZ]

At least penny stocks are actual companies that provide tangible goods and services.

*usually lol

[poundXpound]

Crypto investing is a zero sum game. For every winner, there has to be a loser.

How do you figure? Say I bought at $2K and sold them at $3K. Someone buys those coins at $3K and the market continues up and he sells $4K. Looks like we both won.

[ChristianMR]

Well bitcoin has nothing to do with economics or investments, it's just a zero sum game where a bunch of smart people coax a lot of dumb greedy people.

This is what all bitcoincells say when they're backed into a corner. It's always "I have this incredible knowledge of economics, but you just don't understand", but they can't ever explain their awesome perspective.

[m1n2v5]

In on crypto thread full of people that never bought lmao. Pay my rent with crypto crew checking in. Cope harder, *******s.

[AWillis]

How do you figure? Say I bought at $2K and sold them at $3K. Someone buys those coins at $3K and the market continues up and he sells $4K. Looks like we both won.

and if the guy that bought for $4k watches it go back to $0?

[residesinAZ]

In on crypto thread full of people that never bought lmao. Pay my rent with crypto crew checking in. Cope harder, *******s.

So you're not hodling?

[m1n2v5]

So you're not hodling?

I have certain stacks I'm hodling

and if the guy that bought for $4k watches it go back to $0?

Sucks to suck. No risk no reward.

[YungSodomy]

All the incels suddenly become overnight experts on the crypto landscape as soon as they spot a skid. Yet wouldn't be able to list 10 alts off memory without the consultation of google services if their life depended on it, much less explain how to set a stop-loss.

They don't even realize their bleeding salt wounds only further contribute to public awareness and even more plebs blindly throwing money into the game without proper knowledge of TA.

Thanks boyos, making the job easier for them lambo dreams cuhz.

[m1n2v5]

All the incels suddenly become overnight experts on the crypto landscape as soon as they spot a skid. Yet wouldn't be able to list 10 alts off memory without the consultation of google services if their life depended on it, much less explain how to set a stop-loss.

They don't even realize their bleeding salt wounds only further contribute to public awareness and even more plebs blindly throwing money into the game without proper knowledge of TA.

Thanks boyos, making the job easier for them lambo dreams cuhz.

And the plebs have weak hands, they give delicious discounts

[YungSodomy]

And the plebs have weak hands, they give delicious discounts

Too easy. It really is.

[residesinAZ]

All the incels suddenly become overnight experts on the crypto landscape as soon as they spot a skid. Yet wouldn't be able to list 10 alts off memory without the consultation of google services if their life depended on it, much less explain how to set a stop-loss.

Just lol if you don't see how terrible this is for crypto, and why this is a bubble about to pop. Its traded like a stock now. No one owns actual coins anymore, they hold representations in centralized exchanges.

[m1n2v5]

Too easy. It really is.

Feels that way sometimes, there's definitely a learning curve, at least for me. Once you ride out a 40% dip, when the next one comes it's just exciting instead of terrifying.

[YungSodomy]

Just lol if you don't see how terrible this is for crypto, and why this is a bubble about to pop. Its traded like a stock now. No one owns actual coins anymore, they hold representations in centralized exchanges.

Lol you haven't been around crypto to even speak in that regard, kiddo.

Mt. Gox debacle made the current situation feel like a walk in the park. But most of the plebs in this thread wouldn't know anything about that.


Yadda yadda but what about the gaize that lost their life savings n bought in at 20k huehue and I got this one close friend of an acquaintance's cousin who lost his wife and 10 kids and later developed hodgkins lymphoma from the dotcom bubble etc etc

[PisseninMisc]

Feels that way sometimes, there's definitely a learning curve, at least for me. Once you ride out a 40% dip, when the next one comes it's just exciting instead of terrifying.

Dassit. Strong hands crew checkin in. Came up on another 5 eth earlier this am. Dips are good times. Plus if you actually believe in the tech and in for the long haul there isn't much to worry about. Most people chitting their pants got in a few months ago with dreams of becoming millionaires in 6 months.

[Vito-C]

Under 8k now and price being artificially propped up just LOL @ crypcels

Brb b-b-but I bought in at $11.95 so my "portfolio" is still up 47367854%

Who the hell sits back and watches their investment lose 70% of peak value and keeps holding as it's exposed as fraudulently propped up?

Wolf on retard boulevard