Bitcoins are officially donkdown

[BeerAndPoker]

Last week got an Ignition cashout for several grand at around $14,150 and I was thinking is good I'll just make a few bucks off it when it hits $15k and sell.. well that play obv hasn't worked so now I'm holding on with the bumpy ride ahead.

As mentioned several times in here the other coins success and demise are based on what bitcoin is doing. Some of these crash so hard way worse then BTC is doing when it dips but when it thrives these coins can really go up faster. This is why you hear all the hardcore enthusiasts begging you to hold on to your BTC because they either have so much of it or a lot in alt coins too where they need you to just buckle up for the ride.

Last week I had a transaction tied up for a bit cuz I didn't go with the expensive fee and dropped it slightly then an hour later they were wanting much more to send it which didn't help. I waited about 15 hours and went on one of the bitcoin talk forums where people will try to push it for free. A guy did and I got confirmations rather quickly but my fee I paid was much more then what some people were only trying to pay.

When I clicked on a few links from a thread last week I couldn't believe how cheap some people are. I wish I would have saved the blockchain link to post it here but one guy had over 40 bitcoins tied up for 10 days because he set what was equivalent to a 50 cent fee on the transaction. I mean just wow at trying to send what at the time is like $600k worth of btc and lowering the fee that low. Even Druff is going to pay the suggest rate to be sure he gets that much money quickly.

[BeerAndPoker]

lol at these young dudes who fancy themselves crypto investors begin suicidal over a 30% dip
maybe gambling aint your game my dudes

This is a legitimate concern if BTC really goes down so hard (not just at 30%) I'm sure some people will take their lives.

[JACKDANIELS]

MAPLE SYRUP IS GOD

[sonatine]

lol at these young dudes who fancy themselves crypto investors begin suicidal over a 30% dip
maybe gambling aint your game my dudes

This is a legitimate concern if BTC really goes down so hard (not just at 30%) I'm sure some people will take their lives.

i guess people thought i was joking when i said there would be suicides.


joking i was not.


people stuck their life roles in this. they cashed out 401ks, raided savings accounts, mortgaged houses.


people wanted to invest in a libertarian fantasy and thats exactly what they are waking up to today.



also "As mentioned several times in here the other coins success and demise are based on what bitcoin is doing. " the only reason alts have appreciated in value is people were using them to move funds because of blockchain congestion. thats it. because of that value jump, alts went viral basically.

[snake_in_the_ass]

Last week got an Ignition cashout for several grand at around $14,150 and I was thinking is good I'll just make a few bucks off it when it hits $15k and sell.. well that play obv hasn't worked so now I'm holding on with the bumpy ride ahead.

As mentioned several times in here the other coins success and demise are based on what bitcoin is doing. Some of these crash so hard way worse then BTC is doing when it dips but when it thrives these coins can really go up faster. This is why you hear all the hardcore enthusiasts begging you to hold on to your BTC because they either have so much of it or a lot in alt coins too where they need you to just buckle up for the ride.

Last week I had a transaction tied up for a bit cuz I didn't go with the expensive fee and dropped it slightly then an hour later they were wanting much more to send it which didn't help. I waited about 15 hours and went on one of the bitcoin talk forums where people will try to push it for free. A guy did and I got confirmations rather quickly but my fee I paid was much more then what some people were only trying to pay.

When I clicked on a few links from a thread last week I couldn't believe how cheap some people are. I wish I would have saved the blockchain link to post it here but one guy had over 40 bitcoins tied up for 10 days because he set what was equivalent to a 50 cent fee on the transaction. I mean just wow at trying to send what at the time is like $600k worth of btc and lowering the fee that low. Even Druff is going to pay the suggest rate to be sure he gets that much money quickly.

If I really need a stuck transaction to go through, I usually pay $50-60 to pushtx.btc.com. How long does it usually take for the free ones to get confirmed? I got a couple BTC stuck I need to free up.

[sonatine]

MAPLE SYRUP IS GOD

DRUFF EXPLAIN TO ME IN LAYMENS TERMS HOW ItS TO THE ADVANTAGE OF THIS COMMUNITY THAT I CANNOT REP THIS

[big dick]

Ethos holding up well

[chinamaniac]

This is a legitimate concern if BTC really goes down so hard (not just at 30%) I'm sure some people will take their lives.

i guess people thought i was joking when i said there would be suicides.


joking i was not.


people stuck their life roles in this. they cashed out 401ks, raided savings accounts, mortgaged houses.


people wanted to invest in a libertarian fantasy and thats exactly what they are waking up to today.



also "As mentioned several times in here the other coins success and demise are based on what bitcoin is doing. " the only reason alts have appreciated in value is people were using them to move funds because of blockchain congestion. thats it. because of that value jump, alts went viral basically.

There are certainly people out there like that and that is absolute stupidity if they did. Probably pacing around smoking a pack of cigarettes right now

I know one kid who bought 10k worth of Litecoin @ 250 a coin

Also know another kid who bought a shitload of Eth for like $250

[snake_in_the_ass]

This is a legitimate concern if BTC really goes down so hard (not just at 30%) I'm sure some people will take their lives.

i guess people thought i was joking when i said there would be suicides.


joking i was not.


people stuck their life roles in this. they cashed out 401ks, raided savings accounts, mortgaged houses.


people wanted to invest in a libertarian fantasy and thats exactly what they are waking up to today.



also "As mentioned several times in here the other coins success and demise are based on what bitcoin is doing. " the only reason alts have appreciated in value is people were using them to move funds because of blockchain congestion. thats it. because of that value jump, alts went viral basically.

LOL. Suicide happens when you get a margin call and owe the house big money. I don't think most folks in crypto qualified for margin trading. And for those folks who bought the exact top, they are down about 40-45%. Hurts, but not end of the world. Altcoins is a different story. Lot of folks got buried in those.

[sonatine]

i guess people thought i was joking when i said there would be suicides.


joking i was not.


people stuck their life roles in this. they cashed out 401ks, raided savings accounts, mortgaged houses.


people wanted to invest in a libertarian fantasy and thats exactly what they are waking up to today.



also "As mentioned several times in here the other coins success and demise are based on what bitcoin is doing. " the only reason alts have appreciated in value is people were using them to move funds because of blockchain congestion. thats it. because of that value jump, alts went viral basically.

LOL. Suicide happens when you get a margin call and owe the house big money. I don't think most folks in crypto qualified for margin trading. And for those folks who bought the exact top, they are down about 40-45%. Hurts, but not end of the world. Altcoins is a different story. Lot of folks got buried in those.

the flaw in this is that the people you are describing are familiar with risk.

middle america got into the cryptomarket because of facebook ads.

[big dick]

All the chinks sold their shit and are out celebrating new year


Buy it up while it's cheap

[big dick]

ETHOS $519,083,266 $6.88 $15,868,500 75,405,076 ETHOS * +3.22%

[snake_in_the_ass]

LOL. Suicide happens when you get a margin call and owe the house big money. I don't think most folks in crypto qualified for margin trading. And for those folks who bought the exact top, they are down about 40-45%. Hurts, but not end of the world. Altcoins is a different story. Lot of folks got buried in those.

the flaw in this is that the people you are describing are familiar with risk.

middle america got into the cryptomarket because of facebook ads.

Middle America is down on BTC if they bought within the past 60-90 days. Any other time, they are up. That is too small of a window for everyone to be buried.

[big dick]

Down from it's ath but holding up nicely through this shit storm.

[simpdog]

I feel like going all in on bitcoins isn't that easy.

You can't go into a bank, re-mortgage the house/max out a line of credit and buy bitcoins right away. You have to send wires, etc, etc. I feel like it was easier to do that in the dot com days.

I do believe people are taking a hair cut but not suicidal.



Suicide would be if you had $10 milly in bitcoins at the peak of $20k and it nose dives down to $20.

Or some catastrophe (technical or something) where all bitcoins went up in smoke.

[sonatine]

I feel like going all in on bitcoins isn't that easy.

You can't go into a bank, re-mortgage the house/max out a line of credit and buy bitcoins right away. You have to send wires, etc, etc. I feel like it was easier to do that in the dot com days.

I do believe people are taking a hair cut but not suicidal.



Suicide would be if you had $10 milly in bitcoins at the peak of $20k and it nose dives down to $20.

Or some catastrophe (technical or something) where all bitcoins went up in smoke.

it took me virtually no time at all to get a 10k per week limit on CC purchases at coinbase.


also youre grossly misjudging what its like for people living paycheck to paycheck to be worth half of what they were yesterday.

[sonatine]

that said im sure its all a misunderstanding and bitcoin will be mooning to that 60k goal once the market corrects.



also we just punched through the floor of 11k.


$9xxx before dusk is entirely possible.

[big dick]

want to bet it hits 15 before it hits 5?

[sonatine]

want to bet it hits 15 before it hits 5?

want to bet you have a gambling problem?

[big dick]

sure!