Bitcoin, something worth investing in?

Having a reliable income like a salary is also important to keep the show on the road.

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Well, that narrows it down…

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From the few I know in trading this is a typical pattern that indicates continuation to the upside. This is low timeframe though, 42-45k and a big leg down would not be surprising.

Does this factor in Elon’s mutterings?

It’s short term so doesn’t matter yeah

Just for those who are scared, probably possible to sell at 45k soon

Bitoex becomes the first exchange in Taiwan to list DOGE.

I think it stinks right now, the 2 hours price movement is looking exactly like the daily trend before the big drop.
Hope I am wrong :expressionless:


Today future contract ends around 4PM.

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I’m not invested/have not been invested in crypto, but I have to agree with the line of thought that has the crypto market in a bubble leading to inevitable crash at some point. Then from that point forward a handful of names will emerge/sustain, likely including BC, and it will trend back in the same direction both value-wise and adoption-wise.

But a lot of dust would have to settle before then, my feeling. So if I were speculating now, the risk of a crash, and uncertainty over the survivors (excepting BC again, probably), would make me strongly hesitate.

It’s more from my feeling of general sentiment from investors that could be applicable to any segment, than any in-depth knowledge about crypto on my part, keep in mind.

I own Coinbase, and want to get into crypto, but yeah, I hear you. I keep hesitating. I’m gonna need a bit more regulation and clarity on the rules first. When it happens I’ll be interested in the ones that are actually used to pay for things other than ransomeware hackers.

Right, the unclarified regulation is another thing that would bother me quite a bit. Quite the cloud over a thing that arguably includes even more rabid, reckless investors than the dotcom era. This is the era of get rich quick on youtube, the same mentality applies to a lot of investors with newfound stimulus money, I assume.

Reading people’s comments on stocks and crypto online , it’s parts amusing, parts horrifying. I guarantee there are people there who are quite wealthy just saying yolo stuff out loud, and a lot of non-wealthy ones pick up on it thinking they’re in the same boat.

Just watching reactions to Musk tweets, people losing their minds over BC dropping 15% or something, blaming him for their investment toileting, it’s quite telling. There are so many lemmings in the market right now (and I assume more weighted to crypto).

I can’t imagine what the reaction would be to a crypto-crash, other than personal responsibility is not going to be much of thing. Except for the rich ones who will shrug it off.

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Retailers are mucking the TW market as well. My wife trades at night. But they jump from cheap shipping stock to shipping stock like clockwork. She’s banking money. YOLO is fine if you stay off the options and have a job. I’ve read that some bitcoiners are massively leveraged.

Right. Crypto is simply individual/independent venture investment capital for super wealthy folks. Put in 1% of your investment, maybe millions of dollars. Go up, cash out. Go down, take the tax write off. College kids can’t play that way and they are gonna hurt themselves trying.

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Yeah, I’m sure this is too often the case.

I don’t have much of a stomach for any of it. If I think making a decision will cause me to lose a minute of sleep, I’m out. :sweat_smile:

The sheer impatience of this group we’re referring to, is astounding. In the next decade especially there’s probably going to be a ton of money to be made in growth, and the world is literally at your fingertips if someone wants to self-educate on industry/stocks. Even being relatively conservative I think you can do well.

Part of me will be happy to see a lesson taught so potential future maniacs learn from it, but it’s still going to be so painful to watch if it happens. But anyway.

I’ve always been conservative and dividend heavy. Still am. The few plays I did last summer with SPACs were enough to comfort my ego that I’m not really missing out on anything, because, yeah, like you, I enjoy a good night’s rest. Idk how @Brianjones can even close his eyes at night!

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I think you might be onto something. Let’s see.

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Anyone see footage of the bitcoin conference in Florida? Seems a little carnivaly…and somewhat rowdy based on seeing some of the Jack Dorsey interview.

I think quite a few of these visitors probably overlap with the ones who flip out when Musk tweets about BC. There’s also some new ‘anonymous’ video with a guy wearing a Fawkes mask using a voice changer, seems like the goal is to intimidate Musk into not talking about BC. Just that general vibe that it’s ‘war’ against anyone who dares talk down BC or something, that they need cancelling.

I can envision a future where crypto does crash, or even just pulls back significantly for a time, and this crowd really loses their shit trying to deflect from personal responsibility.

“I lost my money because you tweeted about my investment” is essentially an admission that what you invested in lives and dies by the tweet, and that you have no idea what you’re actually doing. This is the tone right now already, imagine if it gets worse.

Bitcoin collateralized debt is an interesting topic at the bitcoin conference in Florida this year. For decades , wealthy people have been getting away from taxes by buying real estate, stocks, and precious metals and using these as collateral to borrow against it. Then use stock dividends and rental revenues to pay for the interests cost of the loans. The rich then live comfortably without having to sell any assets while enjoying their assets to appreciate and accumulate more wealth along the way. However, the IRS can simply run anyone’s social security number to identify all the assets one has accumulated over one’s career. It is really difficult to tax someone without income or any capital gains from selling assets. The rich avoid the 40% tax rate hiding these assets under offshore corporate ownership at 0% or less than 20% tax rate depending on the country of incorporation. The Biden administration is about the change the tax laws and begin chasing down the rich to pay for possible universal wage for all .

Bitcoin becomes a new discreet asset class where the rich can use to borrow against. It is completely traceless when done correctly. Bitcoin limited at 21 million coins and easily traded by coin base is a game changer in 2021. Although Bitcoin is banned in China and some parts of the world. Many wealthy europeans and americans are using Bitcoin as collateral to borrow against it and use bitcoin backed debit cards to live the bitcoin lifestyle.