What ever happened to Bitcoin?

[Johnnybravo300]

If there was a chart for tulips id trade those. Theres probably some hardcore tulip-to-da-moon hodler bruhs somewhere haha.

 

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[Tesorodeoro]

If there was a chart for tulips id trade those. Theres probably some hardcore tulip-to-da-moon hodler bruhs somewhere haha.

This one wasn’t too bad for being in the belly of the crash. I happened to have had the perfect timing on this one.

 

[BennyV]

This one wasn’t too bad for being in the belly of the crash. I happened to have had the perfect timing on this one.

My friend loves that coin. Not sure why.

 

[ARC]

The dollar is losing world reserve currency status slowly and wont be around forever.
This time is never different and its someone elses turn again to have the reserve currency.. Not the first time and it wont be the last.
Its already collapsed but no one knows it yet. This is what 590% inflation since 1971 looks like haha.

lol

 

[bc5391]

NFT. Not NTF.

I’m no fan of crypto either, but when paper money was created that was based on nothing but thin air and a promise backed by our government.

I can see the argument for precious metals, but that too has some pitfalls. Remember when individuals were not allowed to own it as per a law? I wasn’t around back then but I have read about it. Then there is the argument that it doesn’t produce anything (Warren Buffet).

Obviously paper money and metal is all there is these days. While I keep hearing and know of a few who hit home runs with no name coins (AKA sh$t coins if you will) many have lost and lost big. I think Ethereum and Bitcoin will be around forever because they’re basically too big to fail and big money (investment banks, exchanges, etc) have bought in. The real risk is the exchanges that are holding retail investors assets start to fail and have runs (like 1929). Those banks failed in the 20s and certain exchanges will fail now. FTX is the latest, but I think we’ll see another bomb out of market conditions don’t change. Take your pick - Binance, Coinbase, Crypto.com, Kraken, etc etc etc.

If you want to own crypto do yourself a favor and get a hard wallet. Take your tokens off these exchanges.

Not true, when paper money was created it was based on Silver, we later moved into Silver Certificates. If you look at older US dollars you will see that. Later we moved to the gold standard, rumors has it all our gold was in FT Knox, although I was not allowed to see it when I was stationed there in the early 70's. over time as the government decided they need to inflate things and create a deficit with more zero's than I can count, our gold was used to pay off some of that debt and we moved into what we now have which is a Fiat currency, which is based on a promise. That promise is of course is only good as long as we have a government.
Cypto on the other hand was created was created by individuals with only an idea, that sold that idea to millions, the only people who made money were the creators, and the first in/out. some resent examples are "November 2022, crypto exchange FTX suffered a major liquidity crisis, and filed for Chapter 11. In July 2022, two major crypto trading platforms, Voyager and Celsius, declared bankruptcy.

Cypto can be compared to the DOT.COM's of the early 1990's, what were you investing in (nothing)which is what crypto is (nothing) who backs either one in case they fail- (no one) the owners bail and leave the investors holding the bag. Yes I now the same an be said for any stock, buy a good many people who have stocks use brokers, and some brokers have enough common sense to bail.
I was a day trader for many years, studied chart patterns, sometimes my trades were for 10 - 30 min, other times they might have been for a few days, I traded Forex (currencies) and Futures, I would bail at the first sign of things moving in the opposite dirrection.
How many of you that bought crypto, hung on to it?

 

[Johnnybravo300]

Most people are just sitting watching their investments and pensions evaporating. We havent even gotten to capitulation yet haha.
All the top investors have been out for awhile and the insider Congress members all sold everything back in August. They know whats coming.

 

[Johnnybravo300]

August of 2021, not this last August.

 

[pepperj]

Most people are just sitting watching their investments and pensions evaporating. We havent even gotten to capitulation yet haha.
All the top investors have been out for awhile and the insider Congress members all sold everything back in August. They know whats coming.

Ontario Teachers Pension Fund lost $40 million in the FTX melt down.

 

[sprailroad]

I own them all now, have been using them for club hunts.

 

[Tesorodeoro]

Not true, when paper money was created it was based on Silver, we later moved into Silver Certificates. If you look at older US dollars you will see that. Later we moved to the gold standard, rumors has it all our gold was in FT Knox, although I was not allowed to see it when I was stationed there in the early 70's. over time as the government decided they need to inflate things and create a deficit with more zero's than I can count, our gold was used to pay off some of that debt and we moved into what we now have which is a Fiat currency, which is based on a promise. That promise is of course is only good as long as we have a government.
Cypto on the other hand was created was created by individuals with only an idea, that sold that idea to millions, the only people who made money were the creators, and the first in/out. some resent examples are "November 2022, crypto exchange FTX suffered a major liquidity crisis, and filed for Chapter 11. In July 2022, two major crypto trading platforms, Voyager and Celsius, declared bankruptcy.

Cypto can be compared to the DOT.COM's of the early 1990's, what were you investing in (nothing)which is what crypto is (nothing) who backs either one in case they fail- (no one) the owners bail and leave the investors holding the bag. Yes I now the same an be said for any stock, buy a good many people who have stocks use brokers, and some brokers have enough common sense to bail.
I was a day trader for many years, studied chart patterns, sometimes my trades were for 10 - 30 min, other times they might have been for a few days, I traded Forex (currencies) and Futures, I would bail at the first sign of things moving in the opposite dirrection.
How many of you that bought crypto, hung on to it?

I hung onto 1,000,000 tokens that had $10 Million tied up perpetually in a contract as a basis of initial value (which is unique) It tanked due to a coordinated sell off right before the crypto market collapsed). I figure someday that handful of folks that sunk $10 mil. will do something to try and resurrect it. I even bought a few more because it was cheap. Long term gamble I guess.

 

[Tesorodeoro]

My friend loves that coin. Not sure why.

Well it seemed to spike with the soccer season. I just had a good feeling about it. Bought at $0.10 and sold at $0.27. It routinely cycles up and down 5-8% I think there are lots of folks buying in and selling off on a regular basis. I’ll probably get back in next year about the same time of year to see if it pays off again based on sports promoters. My main point is that there is still $$ to be made even with the crypto market on life support.

 

[bc5391]

so for the sake of argument, I did keep the "FREE" coins that Coinbase was giving out. I have about 30, none of which are over $3, most are under $1, the bottom ones in the photo seem to be making a comeback as they were $0. I did not see any point in selling as coinbase charges $1 to sell and another $1 to transfer to your account. Just taking the loss in taxes is worth more to me. But you can see what they are worth now, as many were worth $10 or more at one time.

 

[Johnnybravo300]

Death cross incoming fast on the weekly. Gooa be a bloodbath!
The hodl bruhs better be strong!

 

[bc5391]

It's important to remember that even small amounts of cryptocurrency can hold value and appreciate over time. While it may be tempting to disregard or sell off small amounts of cryptocurrency, holding onto them could prove to be a wise investment strategy in the long run.

In your case, it's great that you held onto the "FREE" coins that Coinbase was giving out, as they could potentially appreciate in value over time. However, it's also important to keep in mind that cryptocurrency markets can be highly volatile, and the value of these coins could fluctuate rapidly.

It's also important to factor in the fees associated with buying, selling, and transferring cryptocurrency. As you noted, Coinbase charges fees for these transactions, which can eat into your profits or add to your losses. It's important to carefully consider these fees when making investment decisions, and to choose an exchange or platform that offers competitive pricing.

Overall, holding onto small amounts of cryptocurrency could be a smart investment strategy, but it's important to weigh the potential risks and rewards carefully and to choose an exchange or platform that fits your needs and budget.

Daniel, being that they were Free, I can watch the collapse without any investment. Every time I long on I see more and more of the coins from below 10 cents in value. Coinbase will not allow you to sell anything less that $1 in value because they charge 99 cents.
I sold off all my Etherm at the start of the collapse a few years ago without regret . I learned long time ago while trading Futures and Forex to take your profits and run Crypto has only 1 direction to go and that is down. It is all in the charts.

 

[edwardbarnett]

Watching the Bitcoin scene unfold without any personal investment is quite a ride. It's interesting how some coins that were once below 10 cents are taking the stage. And yeah, the struggle with selling lower-value assets on Coinbase can be a bit frustrating. Your experience with Etherum is a solid reminder that taking profits and running is a smart move. And hey, speaking of crypto adventures, have you tried checking out 바이낸스? They might add an extra layer to your crypto journey!