Economy Bitcoin Doubters, Come Eat Your Crow

[Luminaire]

Comparing them to blue chips is rather comical. Blue chips are stable and remain profitable even in bearish markets.

I did not compare them to Blue Chip stocks... maybe it was the wrong term to use, they are "blue chip" cryptos.

They are more established, more stable, than the altcoins people are buying on pure speculation on Hong Kong exchanges.

 

[mike sherry]

Had a friend from the Bay come down over the holidays and told me about he invested like 20k into Bitcoin and Ether back early last year and made a ton of money. This was late December and I told him to sell and get out while it's hot. He told me I'm crazy.

Feel bad for him now honestly.

yeah god forbid, your friend is right back at the prices he was hitting in december

your poor poor friend. save some cardboard boxes for him - itll be his next house

 

[WorldofWarcraft]

Before the end of this year, there will be another "Bitcoin Doubters, Come Eat Your Crow" thread

 

[Lord Commander Palis]

Reported for sexual harassment.

Damn... usually that line works on bitches.

 

[mike sherry]

Comparing them to blue chips is rather comical. Blue chips are stable and remain profitable even in bearish markets.

I posted this in the mayberry thread, but there was a lot of manipulation that brought bitcoin up to $1000 not too long ago.

https://techcrunch.com/2018/01/15/r...person-likely-drove-bitcoin-from-150-to-1000/


https://www.sciencedirect.com/science/article/pii/S0304393217301666

this isn't news, everyone in the community has known about this

this was back in the day when there was basically just mtgox as an option for exchanging. maybeee bitinstant before it got shut down


there are so many different exchanges (arbitrage) now that there is no way two rogue bots would be able to do this solely based on fake orders.

 

[Desdinova]

 

[Rational Poster]

This crow tastes delicious.

 

[Rod1]

This crow tastes delicious.

And we havent even hit a liquidity crisis, in fact its the opposite.

 

[xcvbn]

This crow tastes delicious.

I've been in it since $0.30/ETH

The filets and prawns stay tasty as fuck

 

[Deleted member 429137]

What the fuck is happening to bitcoin right now?

 

[waiguoren]

I bought at $250 and sold at $16500. Pocketed $23,500. Seemed pretty obvious that it was a bubble.

 

[bobgeese]

I bought at $250 and sold at $16500. Pocketed $23,500. Seemed pretty obvious that it was a bubble.

I don’t know about the bubble, but that’s a NICE profit.

 

[Quipling]

What the fuck is happening to bitcoin right now?

New money stopped flowing in. Some pulled out. That was the first pop.
Some people kept the market flowing sideways and convinced themselves it was Chinese new year or whatever. Some scams popped. Then regulators started getting serious, especially in China and the US. This had been in the works for awhile, but was dismissed as FUD (ie, negative propaganda). There was various sideways flow for a while with some smaller dips.

But that fell apart in the last few days when it had real life effects. Last week banks stopped letting people borrow money on credit to buy crypto with (Lloyds, BoA, JPMorgan, with Citigroup, Capital One, Discover soon). Some others are blocking all crypto transactions out of worries relating to money laundering regs. China formally banned foreign crypto platforms, confirming rumors. India announced plans to stop crypto from being used as a payment system and to regulate exchanges. The IRS is allegedly cracking down this tax season. There's an SEC cryptocurrency meeting right now. Some states have cracked down especially hard. Several exchanges have been engaged in shady practices recently and are facing legal action. Etc etc. Finally, some people have wised up and realized just how high-risk some of this speculation is. And some of the selloff was because the speculators were building castles in the air, and those always collapse in the absence of sustained upwards growth. After a month without. . .

 

[Makani]

 

[Rod1]

I bought at $250 and sold at $16500. Pocketed $23,500. Seemed pretty obvious that it was a bubble.

Pretty much this.

As with everything, those that get in early and leave early when it comes to things that have no intrinsic value on its own are the ones that make bank.

The rest just get duped.

 

[Voodoo_Child906]

I bought at $250 and sold at $16500. Pocketed $23,500. Seemed pretty obvious that it was a bubble.

You held when your investment went up 66 times? You were correct here but WTF were you waiting for? No one that I know would hold something as volatile as bitcoin for more than a triple... you're nuts dude! LOL

 

[waiguoren]

You held when your investment went up 66 times? You were correct here but WTF were you waiting for? No one that I know would hold something as volatile as bitcoin for more than a triple... you're nuts dude! LOL

Hm. I guess that's one way of looking at it. For me 3x would have been almost nothing though. My attitude was just 'meh' until I saw it break 10k, then I tried to get out near my perception of the peak. Obviously my perception was a bit off but not by much.

 

[Voodoo_Child906]

Hm. I guess that's one way of looking at it. For me 3x would have been almost nothing though. My attitude was just 'meh' until I saw it break 10k, then I tried to get out near my perception of the peak. Obviously my perception was a bit off but not by much.

I look more at percentage than strict dollars, a return of 25% in a year and I'm laughing. There's no way I would of had the cajones to hold that 10x nevertheless 66x. Any day the Fed could have made an announcement and it would have all come crashing down to near zero.

 

[waiguoren]

I look more at percentage than strict dollars, a return of 25% in a year and I'm laughing. There's no way I would of had the cajones to hold that 10x nevertheless 66x. Any day the Fed could have made an announcement and it would have all come crashing down to near zero.

I pretty much bought it and forgot about it. It's definitely better to think in terms of percentages. I'm saying if it had tripled and then went back to baseline I wouldn't have cared because I was holding so little.

 

[VivaRevolution]

I bought at $250 and sold at $16500. Pocketed $23,500. Seemed pretty obvious that it was a bubble.

Boeing stock was at 350$ a share. It was over valued as well. Doesn't mean it isn't a good 20 year investment. I bet even at 16500$ if you held bitcoin for another 20 years, you would do rather well.

Also doesn't mean that you weren't smart to get out at 16500$, wait for a correction, and get back in when it is lower.