Drowning The Sorrow With Material Things! Plus Seven Words
- Thread starter macaroni
- Start date
- Reaction score
- 3,815
In normal circumstances the Nasdaq run over the past 5 years is totally epic, + anyone trading indexes would be loving it because it follows consistent trends so religiously. Contrasting to crypto though it becomes a boring f*****g waste of time for long term investment prospects unless you're a full time index trader watching tight stops.
Last edited:
- Reaction score
- 3,815
Any hair transplant surgeons accept bitcoin?
You're calling the price movements damn accurately right now. How far down are we going?
I'm not trading it and nor do I regularly bother to apply legitimate technical analysis indicators to make my predictions because I don't care in the short term, but I think the trough at $9100 USD will stay the bottom, it's around a 20% dip from the last high which is consistent with prior corrections (slightly less though) this year and has tested around this level subsequent to the initial bottoming. If it comfortably breaks previous all time high resistance by a few percent I think it will head to around 75-90% above the level of the trough at $9100, say $16500 before correcting again, but likely some psychological resistance at $15000 along the way. Admittedly the length of the correction has not been as long as in the past or quite as harsh in magnitude, so we may have more to come but there is solid support at $8000.
Not concerned with being wrong in the short term though, just going off what I feel and previous patterns over the last 12 months. Of course major unforseen disaster events like a major government ban could throw a spanner in the works too in the short term.
- Reaction score
- 3,815
The one thing I take issue with this post because I see it a lot is this
"meanwhile, new "dumb" money jumped on board (without realizing what the were buying)"
At the end of the day it doesn't matter whether people "know" what they are buying, what matters is the intrinsic utility and growth potential of the product, the development of the network effect, public education of crypto and sector infrastructure. If someone bought Amazon stock in 1997 on a whim without really "getting" it (and their financials outside of the online retailer growth story have never been simple even today) they were still lucky enough to be onto a winner. In the medium and the long term, there is no "dumb money", all the exposure of new investors and people into the sector to grow their understanding and experience with usage of the technology is beneficial. Shaking the weak hands in the short term is also beneficial to the price in the long term.
There is trading and there is long term investing. With the volatility in this sector (and honestly there is nothing like the speed of swings in this sector and to track it properly you'd need to be trading 24 hours a day with no sleep) it doesn't make sense to trade it. There will be lucky traders and unlucky traders here, and of course the lucky ones are those that most often brag about their success, but ALL of the INVESTORS will win out. Long term holders in general will win out and with minimal effort in cryptocurrency, without the extreme, extreme, EXTREME risk of trading.
It's also not a question of "soon", we've seen monstrous crashes in the sector all the time, but it typically bounces back twice as hard and fast as it falls; and conversely at this point the sector is comparatively tiny to the "real" world of finance, there is no celebration until it is past the multi-trillion dollar mark. The real question is where we will be in 2-5 years.
- Reaction score
- 748
This is the right idea, gotta keep saving and investing it until you arrive at the promised land financially - that's when life really begins.
None of this BS of fat mortgages on mediocre houses, slavery to your job, sucking up to people, worrying about car payments, putting money away for retirement, penny pinching, getting upset when gas and food prices go up, bragging to buds when you got a deal on something,
competing with others whose got the best house, car etc - cause when you hit it big you pretty much won all these games, your precluded
and have a totally different outlook on life.
- Reaction score
- 11,939
Bitcoin mining is apparently running at 0.3% of the global energy supply.
That's impressive.
That's impressive.
- Reaction score
- 3,815
- Reaction score
- 11,939
Speaking of material goods, I bought these walking shoes and the delivery came in today:
http://www.saksoff5th.com/main/ProductDetail.jsp?PRODUCT<>prd_id=845524442272618&site_refer=DFA_CRITEO_RMK
[They went on sale the day after I bought them].
Anyway, it's my first time buying shoes online, I was relieved that to see that they're a great fit. They look nice too.
http://www.saksoff5th.com/main/ProductDetail.jsp?PRODUCT<>prd_id=845524442272618&site_refer=DFA_CRITEO_RMK
[They went on sale the day after I bought them].
Anyway, it's my first time buying shoes online, I was relieved that to see that they're a great fit. They look nice too.
- Reaction score
- 1,126
Pretty stylish brah.
Shop has free returns. Just send em back and grab a discounted pair.
- Reaction score
- 11,939
One of the few asset that is open to entire money of world is Gold,Bitcoin.
Yesterday saw one video from US media where a bitcoin guy (expert) was asked about its usage as a replacement of future money.
His response was that he did not see bitcoin as a currency because of its fast appreciating potential.
He rather referred bitcoin as Digital gold.
If certain number of people have come to an agreement to assume bitcoin as a digital asset,it has brighter future.
Unless countries decides to go against it.
Yesterday saw one video from US media where a bitcoin guy (expert) was asked about its usage as a replacement of future money.
His response was that he did not see bitcoin as a currency because of its fast appreciating potential.
He rather referred bitcoin as Digital gold.
If certain number of people have come to an agreement to assume bitcoin as a digital asset,it has brighter future.
Unless countries decides to go against it.
- Reaction score
- 3,815
And what about all the time your predictions Didn’t go the way you thought and you fucked your own anus out of half the gains I have got like every other one of your predictions on this thread + fees from bad trades? Btw nothing on the top 100 went up 65% today so not convinced Imaginarycoin actually did that.
Food for thought. Hodl 4 lyf
- Reaction score
- 3,815
In 12 months we should compare crypto profits and percentage gains with proof of earnings and ownership. Buy and hodl vs trading and see who wins.
- Reaction score
- 5,624
If you guys are cool now then whyd you dislike his post?
I dont understand this stuff and cant tell if you really meant to do that or not
- Reaction score
- 3,815
Just more trigger happy on dislikes than most. No beef though, no strategy is guaranteed to work forever either so the long game and success in that is what matters whether trading or hodling. Will see how it plays out.
- Reaction score
- 3,815
Buy and hodl btc and eth my friend we will win life together
- Reaction score
- 5,624
Goddamn i bought 200$ worth of bitcoin a few years ago. I coulda sold it for 6000$ f*** me