[Finance] The cryptocurrency (Bitcoin etc) thread

[Albion Dan]

Casual observation but saw quite a few people fuming at Binance that were basically not allowing people to sell or cash out for long periods over the last few days. One of the reasons I could never seriously invest large sums in Crypto. And yes I know the same has happened with traded stocks etc

Thats why if you dont want that risk you should always set stop losses that trigger automatically.

 

[Albion Dan]

Back to price action. $42k a big level of resistance with support at $34k. Think we range here for a bit which will be nice for alts. If the latter breaks then bull market is over imo.

 

[sydney]

Genuine question, can anyone tell me what the 'crypto ethos' actually IS all about?

Apart from trying to make more money without working of course. Which seems to be the main driver.

well apparently some of them give back to environmental projects and educational projects in the developing countries ...apparently..!!

 

[Driver8]

the ethos of bitcoin is about taking personal control of banking and payments. it doesnt give a fig about environmental concerns, the processes to secure Bitcoin are inherently inefficient. that said, despite the headlines the system is less burdensome on energy than the banking sector.

I don’t think I would want to bank in a currency that can drop 30% in a day!

 

[beorhthelm]

Genuine question, can anyone tell me what the 'crypto ethos' actually IS all about?

Apart from trying to make more money without working of course. Which seems to be the main driver.

theres a few different ethos in crypto.
Bitcoin and the major overriding background theme is about personal control of finance, decoupling from the centralised banking sectors.
Ethereum is about a concept of internet computer and decentralised finance.
Dogecoin is about dog memes and its honest about it.
XRP is about replacing the banking sector with an alternative centralised banking system.
ADA is about doing lots of very high brow things in a very formal computational manner.
alternative blockchains are generally about providing another way of transferring their tokens as quickly as possible for lower cost than others.
farming tokens are about locking up funds to contradict the above objective.
exchange tokens are about providing liquidity and harvesting fees.
governance tokens
defi tokens are about making money using all the above.

 

[beorhthelm]

I don’t think I would want to bank in a currency that can drop 30% in a day!

fair point, though thats not mentioned as a intended feature in the original paper.

 

[highflyer]

Dogecoin is about dog memes and its honest about it..

 

[Bry Nylon]

If I wanted to invest in something that had the potential to reduce my net wealth to almost zero overnight I'd just get married again.

 

[Albion Dan]

If I wanted to invest in something that had the potential to reduce my net wealth to almost zero overnight I'd just get married again.

That would only happen if you invested your entire wealth in it which would be frankly daft.

 

[pb21]

The sentiment seems to be cautiously bullish...

 

[Albion Dan]

The sentiment seems to be cautiously bullish...

Yeah that worries me. I think we’re going down further. We really need a short sharp panic/capitulation to ride off again.

 

[knocky1]

If I wanted to invest in something that had the potential to reduce my net wealth to almost zero overnight I'd just get married again.

That would only happen if you invested your entire wealth in it which would be frankly daft.

Exactly. A prenuptial agreement is a necessity for any Crypto millionaire.

 

[CheeseRolls]

alright peeps

I think we might need to speak nicely to Bozza.

1 Create a sub folder for the horrors of crypto.
2 Only allow a single thread for positive news on the main board.

Hope everyone okay and is just hanging in there.

 

[Albion Dan]

Yeah that worries me. I think we’re going down further. We really need a short sharp panic/capitulation to ride off again.

Here it comes....

 

[martin tyler]

Just got to ride it out again. Some good advice in this thread previously.

 

[KeegansHairPiece]

I’m ready...

 

[DJ NOBO]

Here it comes....

Is it safe to come out yet?

 

[WATFORD zero]

I can't help but wonder whether the same people who did well out of this latest round of bust/boom/bust/boom etc aren't the people with substantial resources and even more substantial social media presences across multiple platforms. Because if I was looking to invest, I'd be putting my money into those people. As with most games in life, it's nearly always more profitable (and certainly more predictable) to sell it than play it

 

[Tyrone Biggums]

I can't help but wonder whether the same people who did well out of this latest round of bust/boom/bust/boom etc aren't the people with substantial resources and even more substantial social media presences across multiple platforms. Because if I was looking to invest, I'd be putting my money into those people. As with most games in life, it's nearly always more profitable (and certainly more predictable) to sell it than play it

Buy the fear, sell the greed.

 

[SeagullDubai]

I can't help but wonder whether the same people who did well out of this latest round of bust/boom/bust/boom etc aren't the people with substantial resources and even more substantial social media presences across multiple platforms. Because if I was looking to invest, I'd be putting my money into those people. As with most games in life, it's nearly always more profitable (and certainly more predictable) to sell it than play it

I have just got into crypto and this tweet suns it up for me https://twitter.com/billym2k/status/1394996114839855106?s=24


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