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bitcoins

cheez said:
You forgot a word.

Repeat.
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If you're one of the big names to give it a big bump, you can only do that once....but you could ride the wave if another big name did it.

Value driven by perception, huge profits possible and no real tracking of when a celebrity sells...what could go wrong? :laughing
 
So what's up with bitcoin prices plunging?
Musk stoned tweeting can't have that big of an affect can it?

Also why is ETH so under valued, compared to btc. The latter is just purely speculative, former actually used for something.
 
China made a big anti crypto announcement. Also, a lot of coin moved to exchanges in the last few days. I assume the rich China holders were given advanced notice...
 
kingmoochr said:
China made a big anti crypto announcement. Also, a lot of coin moved to exchanges in the last few days. I assume the rich China holders were given advanced notice...
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Of course they were, just as likely happened here on other industries in the same manner. There is always that kind of thing going on, just as Musk and others likely bought up a bunch of bitcoins before throwing their support for it, then likely sold off their bitcoins at a huge profit after the bounce.

It's all about perception.
 
Climber said:
Of course they were, just as likely happened here on other industries in the same manner. There is always that kind of thing going on, just as Musk and others likely bought up a bunch of bitcoins before throwing their support for it, then likely sold off their bitcoins at a huge profit after the bounce.

It's all about perception.
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Yep, that's crypto. Diamond hands will end up on top. Unless you bought doge, then shame on you.
 
Climber said:
Of course they were, just as likely happened here on other industries in the same manner. There is always that kind of thing going on, just as Musk and others likely bought up a bunch of bitcoins before throwing their support for it, then likely sold off their bitcoins at a huge profit after the bounce.

It's all about perception.
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After Bill Maher's call-out for the amount of energy required to compute bitcoin formulas, Musk seemed to get embarassed about his green creds.Whether it's a con or not, it seems to be an issue. (Editing in, I see you guys got it on page before; I have largely not followed this particular thread).

The best part of this might be that I live entirely through the crypto-currency craze beginning and end without ever understanding it and get to see bigshots lose money all the while.
 
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doc4216 said:
Tesla no longer accepting Bitcoin. That was a quick 180.
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And he hinted that TSLA has exited their Bitcoin position, in it's entirety

Climber said:
He probably already took his profits out back when it was over $60k. Buy, promote, dump, profit.
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ding!

Once his position met the gain requirement set, the exit was assumed. I don't know how much gain the business needed to exit but anything north of 15%, which this easily hit, is better then the market could provide.
 
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Yakoo752 said:
And he hinted that TSLA has exited their Bitcoin position, in it's entirety



ding!

Once his position met the gain requirement set, the exit was assumed. I don't know how much gain the business needed to exit but anything north of 15%, which this easily hit, is better then the market could provide.
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Just to clarify.

One of the most wealthy people in the world got a slap on the wrist punishment for stock manipulation a couple of years ago (something that was a long time coming, Elon Musk is really only good at being a conman and a crook), so instead of risking more severe wrist slaps, he moved into the 'wild west' market of cryptocurrency where blatant manipulation is allowed, because for some reason we have not put any common sense regulations in place on cryptocurrency despite it being, at this point, a 1.7 trillion dollar market.
 
No big surprise. Bound to happen. Won't be the last drop, nor the last rise. I suspect that Bitcoin will be like Gamestop, it will just fade away eventually, still being used, but with no speculative frenzy, at a much lower price.

I'm down 10% on my small Ethereum investment/bet/gamble/visionary purchase/etc.
 
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ffs, this drop has little to do with that patsy Musk. this is all engineered. the crapto market is nothing but a casino... unfortunately, the vast majority have no idea (and would never believe) who the "house" is.

again - you want to day/swing trade these illusory tokens for some quick profit? totally doable. but to be in this rigged game - especially with any significant portfolio weight - and hodl with the hope/expectation of becoming a 1%er? pie in the sky for 95% of those involved.

~50% drop in less then 2 weeks -- jfc. this won't end well.

remember: bulls make money, bears make money, pigs get slaughtered.
 
redruM said:
ffs, this drop has little to do with that patsy Musk. this is all engineered. the crapto market is nothing but a casino... unfortunately, the vast majority have no idea (and would never believe) who the "house" is.

again - you want to day/swing trade these illusory tokens for some quick profit? totally doable. but to be in this rigged game - especially with any significant portfolio weight - and hodl with the hope/expectation of becoming a 1%er? pie in the sky for 95% of those involved.

~50% drop in less then 2 weeks -- jfc. this won't end well.

remember: bulls make money, bears make money, pigs get slaughtered.
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enlighten me.
 
the thing is you don't "invest" in shitcoins and memecoins, there is blockchain technology that looks viable in commercial and enterprise applications.

all the shitcoins and memecoins are good for day trading and/or pump and dumps, thats it. I have been enjoying $MATIC / Polygon for a few weeks. I think that could be pretty good long term, but I'm not an expert. It's like 5% of my portfolio, probably less
 
asdfghwy said:
the thing is you don't "invest" in shitcoins and memecoins, there is blockchain technology that looks viable in commercial and enterprise applications.

all the shitcoins and memecoins are good for day trading and/or pump and dumps, thats it. I have been enjoying $MATIC / Polygon for a few weeks. I think that could be pretty good long term, but I'm not an expert. It's like 5% of my portfolio, probably less
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i actually thought this video did a good job highlighting some issues if you want to give it a minute

i actually watch some of his stuff regarding other financial products so i more or less stumbled across this one

[YOUTUBE]l_0uqXq6Dik[/YOUTUBE]
 
Great vid, thanks. Some things I never thought of and really right. Who do you talk to if there's a mistake? I buy through Paypal, but it's a joke for me. I have no desire to put actual investment money in blockchain currency beyond a tiny sum.

And the point about the size of the ledger, wow!
 
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