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[daveonezero]

He’s not wrong about the environmental impact, but crypto is here to stay, so something practical needs to be done to lessen its impact. I vote cyber warfare against Bitcoin miners. That should be easy and not cause any issues

Yes he is wrong about the environmental impact.

and cyber attack on the miners wouldn’t stop Bitcoin. It would just decentralize the market further.

The network of nodes would still be running and after difficulty adjustments and every individual who has some out of date ASIC will fire them up.

 

[CloudNull]

Beanie man weighs in. Don’t get scurred and sell.

 

[Raven117]

Guys let's pretend I have about 50k I'm willing to go all in on with crypto. And I want two cryptos and are not so volatile.

My first choice is ETH. Maybe invest 25k in it. Then how about litecoin? I see it is at $382 and spiking up every day and has been going up consistently the past few months.

Asking for my retired friends (childhood friend's mom and dad) who have a decent amount of money but historically been terrible at financial decision making and investing. They once lost 100 grand, a 100% net loss on day trading 20 years ago.

They need a money manager, not crypto.

 

[TheUsual]

I think there’s a run and people trying to get out. Seems like the wrong movers this point. But it’s not surprising people would panic. I’m going to wait to buy, but I will be buying soon.

Jesus. Link lost 50% of its value in 24 hours.

I bought into the Doge hype and just watched it plunge to just under 25 cents on Robinhood this morning. My average buy total is 9 cents so nothing bad. Just holding as it's rubber banding back up. ETC took a major beating as well and going up.

 

[BaneIsPain]

It is going to be a wild ride in bear market. Feel sorry for my friend got rug pulled early today.

 

[Hnjohngalt]

Im gonna HODL 5 years. If it does bot come back then back to stocks. I dropped another 1k in alts that are 75% below the ATH. So im confident with staking ill be allright.

 

[GHG]

Required watching.

 

[Ogbert]

Wow. This is a proper pounding.

Expect to buy about this time tomorrow.

 

[protonion]

I've been hodling for 4-5 years.
I hope it goes sub 10.000 so I can buy some more.

 

[Outlier]

Oh my lord. I am now just checking my holding (been about a week) and I said I was holding before, but I DEFINITELY NOT selling my ETH now.

Don't let the rich scare you into ruining your positions!

 

[StreetsofBeige]

Why is crypto taking the piss today

Bitcoin plunges: A bust or a buy?

NEW YORK/LONDON (Reuters) -Cryptocurrencies that seemed to be defying gravity just weeks ago came back down to earth with a bump on Wednesday after a roller-coaster ride which could undermine their potential as mainstream investments. The two main digital currencies, bitcoin and ether, fell as...

finance.yahoo.com

 

[Irobot82]

WTF, this guy.

 

[Ellery]

Required watching.

Not gonna lie. I am absolutely impressed by how accurate that is and that video is like nearly a month old now and what happened today mirrors Phase E.

 

[GHG]

Not gonna lie. I am absolutely impressed by how accurate that is and that video is like nearly a month old now and what happened today mirrors Phase E.

I'm in Bitcoin at 51k and ETH at 3.2k and holding till they either make me money or go to zero but its scary how much they mirror Wyckoff.

If nothing else I've learnt about that pattern and will now be overlaying it across every stock chart I see.

 

[gradient]

WTF, this guy.

The John McAfee of this cycle.

 

[godhandiscen]

WTF, this guy.

Too late Elon, you already banned most of your followers to the Shadow Realm of bag holding.

 

[Mitsuda Maniac]

WTF, this guy.

I would get out right away after reading this lol.

 

[Irobot82]

I would get out right away after reading this lol.

lol

I'm not worried. I'm still up well over 300% after this collapse. Just like last time, I HODL on.

 

[StreetsofBeige]

Beanie man weighs in. Don’t get scurred and sell.

Pump n Dump and Bash n Stash tactics have been around since the beginning. The key difference between stock and crypto are:

- Crypto has an image of individuals holding the power, so there shouldn't be things like hedge funds controlling a stock
- Crypto shouldnt be affected as much as stock when it comes to tax laws, inflation and weekly news that drives stock markets. Crypto does its own thing
- However, Crypto is unestablished, so you can get shit like China today cracking on it leading to cryptos dropping 25%. You dont get panic selling so bad in the markets, every stock and index drops 25% in half a day.

 

[n0razi]

Same. I’m finally going to pick up some etheruem and Bitcoin. Some one give me the bat signal when we have reached the floor.

ETH hit around $2k this morning... thats when I went in

 

[godhandiscen]

ETH hit around $2k this morning... thats when I went in

Yeah that is a good price.

I missed the flash sale, but I feel this is a dead cat bounce. Not long from now we will be at $1800 again before it really bounces. I think I will buy in more then.

I parked some ETH in Polygon yesterday so I profited a bit. I will buy the ETH again later.

 

[infinitys_7th]

I'm not even mad at the blatant market manipulation going on. I can take. advantage of it too and lower my average basis cost.

Bought $1000 in BTC yesterday and another $1000 today, along with $500 ETH.

 

[GamingKaiju]

Oooof that price drop Good time to go long on BTC/Eth/Ada though

(I'm not a advisor, only risk what you can afford to lose)

ETH hit around $2k this morning... thats when I went in

Was going to post this. $2k is a good price point to buy Eth, we might not see it again ⬆⬆⬆⬆ we're going up ⬆⬆⬆⬆

WTF, this guy.

Being holding Eth for a few years now already I can wait a while longer.

 

[Business]

The John McAfee of this cycle.

John was nuts, at times disgusting and probably a murderer, but at least he was funny.

After all what has happened in the last weeks, Elon coming in to save the day, speaking like a WSB teenager YOLOing BTC to fit in again… it’s just pathetic.

 

[Irobot82]

John was nuts, at times disgusting and probably a murderer, but at least he was funny.

After all what has happened in the last weeks, Elon coming in to save the day, speaking like a WSB teenager YOLOing BTC to fit in again… it’s just pathetic.

John's is in prison in Spain(i think) right now. Been there for months slowly dying. Shits crazy.

 

[Ascend]

I'm going to tell you a story, without actually saying much. Only with links. Enjoy, and no, you don't need to read the whole Reuters articles, but I suggest you go through the last link carefully.

China bans financial, payment institutions from cryptocurrency business

China has banned financial institutions and payment companies from providing services related to cryptocurrency transactions, and warned investors against speculative crypto trading.

www.reuters.com

Explainer: What Beijing’s new crackdown means for crypto in China

Chinese regulators have tightened restrictions that ban financial institutions and payment companies from providing services related to cryptocurrencies, marking a fresh crackdown on digital money.

www.reuters.com

/biz/ - Hey guys, insider here. For those of you that are - Business & Finance - 4chan

Hey guys, insider here. For those of you that are not busy mumu/bobo larping, and paying attention, ... - "/biz/ - Business & Finance" is 4chan's imageboard for the discussion of business and finance, and cryptocurrencies such as Bitcoin and Dogecoin.

boards.4channel.org

 

[daveonezero]

I really hope you didn't invest.

I really hope he just did BTC and then waits a few more months.

So now we're comparing Bitcoin to Bolivar? I'm not really sure that's a good thing..

it isn’t a good thing to rate it against the US dollar either.

the dollar value means nothing. It is decreasing in purchasing power. Printing money makes it worth less. Government subsidies are inefficient.

BTC sats will reach cent parity and y’all will will think the dollar is doing well or something.

 

[{insert code here}]

 

[mcjmetroid]

I'm going to tell you a story, without actually saying much. Only with links. Enjoy, and no, you don't need to read the whole Reuters articles, but I suggest you go through the last link carefully.

China bans financial, payment institutions from cryptocurrency business

China has banned financial institutions and payment companies from providing services related to cryptocurrency transactions, and warned investors against speculative crypto trading.

www.reuters.com

Explainer: What Beijing’s new crackdown means for crypto in China

Chinese regulators have tightened restrictions that ban financial institutions and payment companies from providing services related to cryptocurrencies, marking a fresh crackdown on digital money.

www.reuters.com

/biz/ - Hey guys, insider here. For those of you that are - Business & Finance - 4chan

Hey guys, insider here. For those of you that are not busy mumu/bobo larping, and paying attention, ... - "/biz/ - Business & Finance" is 4chan's imageboard for the discussion of business and finance, and cryptocurrencies such as Bitcoin and Dogecoin.

boards.4channel.org

Bitcoin does seem to be in a free fall. I suppose it's worth keeping an eye on it today.

I recently invested in Ada and miota but I suppose I should get in on bitcoin as well.

 

[The_Mike]

As someone who joined crypto like a month ago.

Is this something I should be really worried about regarding the news?

I mean, couldn't all these news potentially mean the death of crypto?

 

[gradient]

As someone who joined crypto like a month ago.

Is this something I should be really worried about regarding the news?

I mean, couldn't all these news potentially mean the death of crypto?

The death of crypto? No - it's just another turn in the market cycle.

This level of volatility is to be expected in crypto and in terms of the cycle we're kind of approaching the apex so another significant crash is likely within the next year assuming that this isn't already it. Contrary to a lot of the hype the market has been quite over-inflated for a while and growing at an unhealthy pace so a correction was highly likely and that is probably what we're seeing here. Will it pick up again? it's hard to tell, the recent highs could just be a intermediate peak which is followed by a correction (now) and then a sharp rise again to new highs OR this could be the fall and the rise we see in the short term could just be what's known as a dead cat bounce.

All of the markers for this dip were there. Bitcoin pulled back and was struggling, then Etherium picked up and pulled big numbers, then money started shifting into Alt coins. That's a pretty well established pattern for the lead up to a dip. Not conclusive, but it is something I tend to look out for.

It's up to you if you want to keep going in. My opinion is that the market is reaching it's high so gains are reducing and risk is substantially increasing. That is only my opinion though so do try to take in other sources. Beware of people shilling crypto hard and being overly bullish - a lot of them are heavily invested, both financially and emotionally in the market so they either can't see clearly or have a vested interest in trying to prop up the market.

If you're new to crypto then undertsand it's a high risk investment that's honestly closer to gambling. History shows if you hold for the long term you should come out ahead however the market is very uncertain, is not underpinned by any real assets, and could get tanked by regulation, new tech or simple loss of interest / confidence. Keep that in mind, fight the FOMO, and only invest what you're willing and able to lose.

 

[{insert code here}]

As someone who joined crypto like a month ago.

Is this something I should be really worried about regarding the news?

I mean, couldn't all these news potentially mean the death of crypto?

 

[The_Mike]

The death of crypto? No - it's just another turn in the market cycle.

This level of volatility is to be expected in crypto and in terms of the cycle we're kind of approaching the apex so another significant crash is likely within the next year assuming that this isn't already it. Contrary to a lot of the hype the market has been quite over-inflated for a while and growing at an unhealthy pace so a correction was highly likely and that is probably what we're seeing here. Will it pick up again? it's hard to tell, the recent highs could just be a intermediate peak which is followed by a correction (now) and then a sharp rise again to new highs OR this could be the fall and the rise we see in the short term could just be what's known as a dead cat bounce.

All of the markers for this dip were there. Bitcoin pulled back and was struggling, then Etherium picked up and pulled big numbers, then money started shifting into Alt coins. That's a pretty well established pattern for the lead up to a dip. Not conclusive, but it is something I tend to look out for.

It's up to you if you want to keep going in. My opinion is that the market is reaching it's high so gains are reducing and risk is substantially increasing. That is only my opinion though so do try to take in other sources. Beware of people shilling crypto hard and being overly bullish - a lot of them are heavily invested, both financially and emotionally in the market so they either can't see clearly or have a vested interest in trying to prop up the market.

If you're new to crypto then undertsand it's a high risk investment that's honestly closer to gambling. History shows if you hold for the long term you should come out ahead however the market is very uncertain, is not underpinned by any real assets, and could get tanked by regulation, new tech or simple loss of interest / confidence. Keep that in mind, fight the FOMO, and only invest what you're willing and able to lose.

Thanks for tips,
I started fomo on Doge cus everyone talked about it, and actually earned pocket money on it.
Invested in Matic and eth. Matic exploded and eth did a little but went really downhill.

I still have a plus of 80 euro so I'm happy. I know its not thousands but I also just started.

I only invest what I can afford to lose, and I'm trying to avoid fomo and succeeded so far hehe.

It's my first dip though and on the news with musk trolling the market and China and India so I got nervous if I were too late.

Using binance as my wallet, I know the not your keys not your money thing. Thinking about buying a hardware wallet down the line.

 

[gradient]

Thanks for tips,
I started fomo on Doge cus everyone talked about it, and actually earned pocket money on it.
Invested in Matic and eth. Matic exploded and eth did a little but went really downhill.

I still have a plus of 80 euro so I'm happy. I know its not thousands but I also just started.

I only invest what I can afford to lose, and I'm trying to avoid fomo and succeeded so far hehe.

It's my first dip though and on the news with musk trolling the market and China and India so I got nervous if I were too late.

Using binance as my wallet, I know the not your keys not your money thing. Thinking about buying a hardware wallet down the line.

FOMO is probably the biggest issue. It's so easy to get caught up in the movements and think that you HAVE to buy now or else you'll miss the opportunity forever. When the market is up you think it will just keep going up so if you don't buy you'll miss out on the rise. When the market is down you think you're missing out on the fabled dip and won't get another chance to get a "bargain".

Modified DCA usually works best for most people. Both in terms of buying and selling. You have a set amount that you're willing to lose each month and drop 1/2 to 2/3 regularily each month and save the remaining 1/2 to 1/3 for any possible dips. Yes, you'll reduce your possible gains but you'll also limit your exposure to the volatility.

MATIC was the last thing I bought just this last weekend. I held to the DCA a little too strictly and bought ignoring the signs of a dip so I took a bit of a hit on that but we'll see how it does.

Two other Alts I bought into at the same time took a similar hit and I'll admit I bought off a tiny bit of FOMO and because I hadn't been buying in much over the past two months because of the bloat on the market. On the flip side when I recognized the dip I also sold half of my Eth in order to clear my risk on that coin. Made enough profic to clear the cost with just shy of a 50% sell so now what I have left is essentially free. Not a bad tactic to take profit upto the cost of your initial investment when your coins go up enough so that you're left with a stake in the game without any actual risk.

And I wouldn't worry about using Binance as your wallet. Unless you're into a few thousand in value it's not the worst thing to do. Yes, there's a risk but holding there allows you to react to the volatility fast and without as much expense (fees for moving to and from). A hardware wallet is up to you but don't throw too much money at the extras like hardware wallets until you've had some time to ride the market and build up a bag that justifies it.

 

[Business]

As someone who joined crypto like a month ago.

Is this something I should be really worried about regarding the news?

I mean, couldn't all these news potentially mean the death of crypto?

The best advice I can give you is: The least you act, the better you'll be in the long run. I'm not saying just hodl, but almost. There's things to be done, sometimes taking some profit doesn't hurt, maybe you can move something to earn some yield if your bag is decent and fees don't eat it all, but yeah, never fomo, never panic sell, don't check your portfolio 50 times a day.

 

[The_Mike]

Thanks for all the tips

But I keep reading it's stupid to have your cryptos on an exchange because of the Mt gox incident. I would just be sad to see my crypto go if binance closed down suddenly.

 

[{insert code here}]

Thanks for all the tips

But I keep reading it's stupid to have your cryptos on an exchange because of the Mt gox incident. I would just be sad to see my crypto go if binance closed down suddenly.

There are pros and cons to leaving your crypto on an exchange. The obvious downside risk is the exchange getting hacked or some other black swan event but in my opinion these events will become less and less likely to occur over time as long as you stick with the established exchanges that are (somewhat) regulated.

The upside exchanges have over cold-storage is that you can stake your crypto and earn interest with rates that are pretty generous. Not that sub 1% garbage that the banks give you for your fiat. This something to consider if you plan on hodling. If you want to reduce your risk you could just stake a percentage of your stack and spread that over multiple exchanges.

 

[The_Mike]

There are pros and cons to leaving your crypto on an exchange. The obvious downside risk is the exchange getting hacked or some other black swan event but in my opinion these events will become less and less likely to occur over time as long as you stick with the established exchanges that are (somewhat) regulated.

The upside exchanges have over cold-storage is that you can stake your crypto and earn interest with rates that are pretty generous. Not that sub 1% garbage that the banks give you for your fiat. This something to consider if you plan on hodling. If you want to reduce your risk you could just stake a percentage of your stack and spread that over multiple exchanges.

So binance dot com "should" be relatively safe? And we "shouldn't" see another Mt gox incident?

Staking... Isn't there any risk at all to lose what you're staking?

 

[Irobot82]

There are pros and cons to leaving your crypto on an exchange. The obvious downside risk is the exchange getting hacked or some other black swan event but in my opinion these events will become less and less likely to occur over time as long as you stick with the established exchanges that are (somewhat) regulated.

The upside exchanges have over cold-storage is that you can stake your crypto and earn interest with rates that are pretty generous. Not that sub 1% garbage that the banks give you for your fiat. This something to consider if you plan on hodling. If you want to reduce your risk you could just stake a percentage of your stack and spread that over multiple exchanges.

Exodus Wallet offer many staking features. Compound and a rewards Dapp. I stake Cosmos, Cardano and Tezos.

 

[{insert code here}]

So binance dot com "should" be relatively safe? And we "shouldn't" see another Mt gox incident?

Staking... Isn't there any risk at all to lose what you're staking?

Yes, of course there's staking risk. It's up to you to decide if the risk is worth the reward.

I don't use Binance but I think they're probably a safe bet. Up to you to do the research.

And no, I don't think we're going to see another Mt. Gox event. However, I do think we'll continue to see events like what happened at that Turkish crypto exchange where the owner disappeared with everyone's crypto. Again, it's your crypto so the responsibility is on you to do the research.

 

[Ellery]

So what is it now? Did china actually do something or was Reuters misreporting?

 

[Ryuji Goda]

I made close to a thousand euros in 1 day lol

 

[gradient]

So what is it now? Did china actually do something or was Reuters misreporting?

As far as I can tell China was just reiterating something that has been in place for years.

Regardless I see it as a positive as it provided a much needed reminder of the volatility and fragility of the market. The market was getting far too over-confident and there was far too much feeling that the market was somehow immune to these kinds of drops thanks to "institutional investors". People were forgetting the risks and there was far too much hype and over-confidence that was leading ever more people into a financially irresponsible position. The drops initiated by that news and Tesla announcing they would no longer accept Bitcoin demonstrated how easily the market can get spooked and how easily money can be lost in this game.

 

[gradient]

I made close to a thousand euros in 1 day lol

Nice. You cashed out I assume? If so, well done - that's a great score. If not then not to be a spoilsport but you haven't made anything yet.

 

[Ellery]

As far as I can tell China was just reiterating something that has been in place for years.

Regardless I see it as a positive as it provided a much needed reminder of the volatility and fragility of the market. The market was getting far too over-confident and there was far too much feeling that the market was somehow immune to these kinds of drops thanks to "institutional investors". People were forgetting the risks and there was far too much hype and over-confidence that was leading ever more people into a financially irresponsible position. The drops initiated by that news and Tesla announcing they would no longer accept Bitcoin demonstrated how easily the market can get spooked and how easily money can be lost in this game.

So nothing actually happened for chinese people and crypto right now in China, right?

 

[gradient]

So nothing actually happened for chinese people and crypto right now in China, right?

Not that I can tell. They just re-iterated their stance and rules that have been in place a few years now.

 

[thief183]

Not that I can tell. They just re-iterated their stance and rules that have been in place a few years now.

Yes I noticed that too but looks like journalist didn't understand what was going on.... Btw I bought... and I bought a lot this time. Hold like a champ

 

[DeepBreath87]

Yes I noticed that too but looks like journalist didn't understand what was going on.... Btw I bought... and I bought a lot this time. Hold like a champ

Don’t hold too long. Make your money real at some point. I know guys will tell you hold no matter what. But at some point you need to actually make money or it’s all theory.

 

[TheUsual]

After Doge rocketing back up again, I sold it all. Tired of watching this one respond on a whim to tweets (based on Robinhoods small news snippet this morning). Made a generous return and glad to be forgetting about it.

Sure it'll go up some more down the road but I'm done with it.

 

[Hnjohngalt]

I was lucky to get some ada at $1.38 yesterday too. I doubt Bitcoin is gonna drop below 30k anytime soon. Lets wait and see