Bitcoins are officially donkdown

[Sanlmar]

Bought even more bitcoin and ethereum.

I get the bargain hunting instinct. To go where no one else has the courage to go.

I will suggest something that perhaps you’ll remember me by long after Bitcoin and I are gone.

The more times the market knocks on the door the stronger that support or resistance will become if it is breached.

So BTC kept testing (bouncing off of) $6200 since July. 6200 was pretty strong support — until it failed. Now 6200 is gonna be very strong resistance (price ceiling) cause it was knocked on for so long as support.

I dunno if that was expressed in clear English. It’s also not an exact science cause it’s not math but psychology.

Now there will be other buyers like you. Fewer than before but it’s a thin market anyway. $6200 will be tested at some point. Hopefully, in your lifetime. That’s a pretty good return. That’s where you bail.

If I may suggest something else. Don’t take delivery of the crypto shit if you can avoid it and the juice of the exchanges. A low stress way to get the exposure but not really own is Robinhood. If you’re in an approved state.

1) Ship $ from your checking acct to Robinhood.

2) “Buy” crypto. Note: you can’t sbip the crypto to someone else. You really don’t own it. Money laundering etc.

3) sell crypto when you have lost more than you can bear.

4) ship remaining cash back to your checking.

On a side note, as a online gambler I use Bitcoin. I have NEVER seen transaction times this quick. Very nearly instant. You’d think this was online 2004. It’s an exquisite moment in time.

You can also buy a truckload or used NVidea graphics cards from miners who have given up.

Who knows except Sonatine?

[Username]

Bought even more bitcoin and ethereum.

I get the bargain hunting instinct. To go where no one else has the courage to go.

I will suggest something that perhaps you’ll remember me by long after Bitcoin and I are gone.

The more times the market knocks on the door the stronger that support or resistance will become if it is breached.

So BTC kept testing (bouncing off of) $6200 since July. 6200 was pretty strong support — until it failed. Now 6200 is gonna be very strong resistance (price ceiling) cause it was knocked on for so long as support.

I dunno if that was expressed in clear English. It’s also not an exact science cause it’s not math but psychology.

Now there will be other buyers like you. Fewer than before but it’s a thin market anyway. $6200 will be tested at some point. Hopefully, in your lifetime. That’s a pretty good return. That’s where you bail.

If I may suggest something else. Don’t take delivery of the crypto shit if you can avoid it and the juice of the exchanges. A low stress way to get the exposure but not really own is Robinhood. If you’re in an approved state.

1) Ship $ from your checking acct to Robinhood.

2) “Buy” crypto. Note: you can’t sbip the crypto to someone else. You really don’t own it. Money laundering etc.

3) sell crypto when you have lost more than you can bear.

4) ship remaining cash back to your checking.

On a side note, as a online gambler I use Bitcoin. I have NEVER seen transaction times this quick. Very nearly instant. You’d think this was online 2004. It’s an exquisite moment in time.

You can also buy a truckload or used NVidea graphics cards from miners who have given up.

Who knows except Sonatine?

To Sanlmar’s point, if not in a Robinhood approved area, you can do this quickly and painlessly via the Cash App as well. Square has been operating in this realm for about 11 months. It’s straightforward and seamless.

[LobsterMac]

I get the bargain hunting instinct. To go where no one else has the courage to go.

I will suggest something that perhaps you’ll remember me by long after Bitcoin and I are gone.

The more times the market knocks on the door the stronger that support or resistance will become if it is breached.

So BTC kept testing (bouncing off of) $6200 since July. 6200 was pretty strong support — until it failed. Now 6200 is gonna be very strong resistance (price ceiling) cause it was knocked on for so long as support.

I dunno if that was expressed in clear English. It’s also not an exact science cause it’s not math but psychology.

Now there will be other buyers like you. Fewer than before but it’s a thin market anyway. $6200 will be tested at some point. Hopefully, in your lifetime. That’s a pretty good return. That’s where you bail.

If I may suggest something else. Don’t take delivery of the crypto shit if you can avoid it and the juice of the exchanges. A low stress way to get the exposure but not really own is Robinhood. If you’re in an approved state.

1) Ship $ from your checking acct to Robinhood.

2) “Buy” crypto. Note: you can’t sbip the crypto to someone else. You really don’t own it. Money laundering etc.

3) sell crypto when you have lost more than you can bear.

4) ship remaining cash back to your checking.

On a side note, as a online gambler I use Bitcoin. I have NEVER seen transaction times this quick. Very nearly instant. You’d think this was online 2004. It’s an exquisite moment in time.

You can also buy a truckload or used NVidea graphics cards from miners who have given up.

Who knows except Sonatine?

To Sanlmar’s point, if not in a Robinhood approved area, you can do this quickly and painlessly via the Cash App as well. Square has been operating in this realm for about 11 months. It’s straightforward and seamless.

DID YOU COMMIT FRAUD AGAIN TO GET T HOSE COINS WHORE

ACTING LIKE YOUR SHIT DON'T STINK YET YOUVE BEEN ARRESTED MORE TIMES THEN OJ FOR FRAUD

[Sanlmar]

$3780

This thing wants $2k.

[sonatine]

$3780

This thing wants $2k.

if it hits 2k its going to hiccup and bottom out at $1200 for a minute.

[BeerAndPoker]

I've lost a bunch this year acquiring BTC from poker cashouts only for it to immediately dip then I hold on and it get rekt some more.

This looks bad and alt coins can only thrive if btc does.

Listening to so called btc expert geeks talk about this is more tilting then the intro of pfa radio. These people talk in some lingo trying to make themselves sound super intelligent when most really have no fucking clue what will happen next.

[Dan Druff]

Here's an interesting site to play with: https://coinmarketcap.com

For example, here are the charts of total market capitalization for all cryptos combined https://coinmarketcap.com/charts/

Here are the top 100 coins, out of 2071: https://coinmarketcap.com/coins/

You can click on an individual coin to see a value chart.

Try clicking on several of the coins, and you'll see that none of them have done well in 2018. Maybe one or two minor coins have managed to increase in value, but for the most part, if you've invested in crypto in 2018, you got your ass beat.

From what I could tell, many of the cool crypto kids were abandoning bitcoin in late 2017 (correctly), but instead of cashing out, they jumped on Ethereum, Ripple, Bitcoin Cash, or other cryptos which were supposed to be the new big thing. Those have also taken a beating.

As I've said many times before, cryptocurrencies might be the future, but that future isn't right now. The entire concept and utilization is still highly immature. Too many wrongly believed that they were getting in on the ground floor of something which was going to be huge and change the world. The more likely reality is that this is a years-long-running fad which will eventually lead to something similar-but-different catching on long-term, but only after the current shitshow of 2000 coins crashes and basically everyone has to start over.

[TheXFactor]

If the Bitcoin price falls below $3,000 a coin then it will no longer be profitable to mine at all.


Now waiting for Bitcoin to hit...$50.

Then will Micon commit suicide?

And will John McAfee eat his own dick?

[FRANKRIZZO]

crashed so hard , but it will bounce back as usual , wait for 2k and buy buy buy

[Sanlmar]

Look at those MacAfee pictures.

CNBC frequently called on this guy as an expert on crypto. Go to the Cramer infotainment site TheStreet and read MacAfee inspired articles.

MacAfee makes 5Dimes Tony’s story sound pedestrian in comparison and he’s recruited as a financial expert.

[sonatine]

If the Bitcoin price falls below $3,000 a coin then it will no longer be profitable to mine at all.

this is confusing because bitcoin wasnt profitable to mine at like $5000 unless you essentially had free power.

also to be clear there were literal dunes of mining gear on chinese streets like 3 weeks ago because the orgs that were using them to mine just walked away and the property owners were dumping the abandoned hardware.

[Sanlmar]

If the Bitcoin price falls below $3,000 a coin then it will no longer be profitable to mine at all.

this is confusing because bitcoin wasnt profitable to mine at like $5000 unless you essentially had free power.

also to be clear there were literal dunes of mining gear on chinese streets like 3 weeks ago because the orgs that were using them to mine just walked away and the property owners were dumping the abandoned hardware.

Take that crypto $ and buy NVDA at some point. A solid company soiled by crypto. NVDA is misunderstood and that’s good.

Edit:

Sigh, I prolly sound like a crypto hodler. Skip NVDA - I want it to work just like a crypto kid believes in Btc. We are both hope-a-trons

[sonatine]

this is confusing because bitcoin wasnt profitable to mine at like $5000 unless you essentially had free power.

also to be clear there were literal dunes of mining gear on chinese streets like 3 weeks ago because the orgs that were using them to mine just walked away and the property owners were dumping the abandoned hardware.

Take that crypto $ and buy NVDA at some point. A solid company soiled by crypto. NVDA is misunderstood and that’s good.

im hearing things about nvda that doent make sense to me, ill try to dig up the articles later, but apparently terms like 'grossly mismanaged' are being bandied about.

id say if you really want to get rich the old fashioned way, look for the boutique shops making bleeding edge AI chipsets and hang ten on the occasional acquisitions.

[Sanlmar]

I just revised my NVDA above.

It’s hard to let go. An appropriate sentiment here

It’s this bull market’s love child - we must move on

[Krypt]

Going back to the Korean student "bitcoin zombie" collective, members of Cryptofactor say they founded the club because of a lack of dedicated cryptocurrency classes on campus and see their efforts as a way to move beyond speculation to informed investing.

“I realized that I was actually speculating rather than investing before I came to this club,” said Kim Myung-jae, a 19-year-old fine arts student, adding that she was especially attracted to altcoins.

"Now that I fully discuss which one to invest in with the members, I‘m actually looking at the true value."

And with 19-year-old traders like Kim opining on the "true value" of cryptos, one can be pretty certain how it all ends. The only question is when.

when noose?

[MumblesBadly]

If the Bitcoin price falls below $3,000 a coin then it will no longer be profitable to mine at all.

this is confusing because bitcoin wasnt profitable to mine at like $5000 unless you essentially had free power.

also to be clear there were literal dunes of mining gear on chinese streets like 3 weeks ago because the orgs that were using them to mine just walked away and the property owners were dumping the abandoned hardware.

A drastic reduction in the production capacity of a limited supply resource in response to the market price falling below the cost to produce tends to impart support to the market price at some point. But in contrast with gold, estimating the fundamental (versus speculative) demand for bitcoin is very hard given the difficulty in estimating the global demand for money laundering.

[Dan Druff]

https://www.bloomberg.com/opinion/ar...ugh-on-bitcoin

[MumblesBadly]

https://www.bloomberg.com/opinion/ar...ugh-on-bitcoin

It isn’t the first time that Warren Buffett was correct about a speculative bubble. Can anyone recognize this one that occurred during his lifetime? I’ve obscurred the details to avoid giving away too many clues. But know that the scale of the vertical axis is linear and the length of time for the portion of the chart this isn’t hidden is about 8 years.

[Sanlmar]

https://www.bloomberg.com/opinion/ar...ugh-on-bitcoin

It isn’t the first time that Warren Buffett was correct about a speculative bubble. Can anyone recognize this one that occurred during his lifetime? I’ve obscurred the details to avoid giving away too many clues. But know that the scale of the vertical axis is linear and the length of time for the portion of the chart this isn’t hidden is about 8 years.

Feels like gold, Bob

It’s gonna be the housing start chart sooner than you think.

[Tellafriend]

It isn’t the first time that Warren Buffett was correct about a speculative bubble. Can anyone recognize this one that occurred during his lifetime? I’ve obscurred the details to avoid giving away too many clues. But know that the scale of the vertical axis is linear and the length of time for the portion of the chart this isn’t hidden is about 8 years.

Feels like gold, Bob

It’s gonna be the housing start chart sooner than you think.

So do what to make money off it now ?