Guys Let's All Get Rich - Are You Ready?

[Rudiger]

Coinbase is doing this really weird thing where the price keeps going to this one number, 13,130.14, it did it for ages earlier where it would stay on that number for several minutes at a time, with no fluctuation whatsoever. About 20 minutes ago it just randomly dropped to this figure twice in a few minutes, absolutely bizarre.

It's really not nice to see either as it's $1500 over that right now and when you see such a drop, you can't help but the panic mindset of "oh, POP, there she goes" as a reaction. I had the same reaction when bitcoin cash went to 0% out of nowhere "oh sh*t we're all fucked now"

 

[Exodus2011]

I have a friend who hates bitcoin and anyone remotely interested in it, because fair enough, he's been traumatised by a guy who he works with who literally talks about his bitcoin investments several times a day.

Everyone probably realises this already but it's best to keep your crypto interests to yourself and people very close to you, others will hope the worst. Only people who really care about you will stay positive about your pursuit of investing, generally people are cynical about making "easy money" and jealous if it pays off (of course if it was that easy then they could've cashed in themselves). Case in point:

Last week this friend (well, half-friend) found out about my bitcoin interest as my other close friend asked how it's going, and of course this guy had a hundred pressing questions until I actually just told him to piss off, but half these questions were loaded and seeking me to gloat, or imply I'm gullible in the bubble and throwing my money away.

Anyway today he calls me, I've known this guy a long time but I doubt we've ever called each other before generally (maybe if meeting for drinks or something ages ago but not in a "hey how's life" kinda way, definitely not) specifically to tell me how bitcoin just crashed down to 0% and everyone lost their money.

What happened was, bitcoin cash for some reason went to 0% on coinbase which I'd already seen (might have something to do with being investigated for insider training but I have no idea) not bitcoin, which instantly disappointed him. He insisted I must have lots of money in bitcoin cash but I do not, and anyway I said it has to be an error and should correct soon, and call me back tomorrow if it hasn't (and it has).

It also shows me that he's so obsessed that he's checking coinbase regularly just to see if other people are losing money, and wishing the absolute worst for them.

Failing species.

damn what the f*** thats an a**h**. why do you still chill with them? i've had only one "friend" like that and i've cut them off

 

[Rudiger]

damn what the f*** thats an a**h**. why do you still chill with them? i've had only one "friend" like that and i've cut them off

It's not a very personal friendship we just have mutual friends and drink or go to parties in groups. I dunno if he even knows what I do for a living, we don't talk about normal stuff it's just lad banter shits 'n' giggles. I don't know if this is just an Irish thing but I don't think so, in any sort of alpha male group nobody just randomly talks about actual stuff everyone would look at him like "what the f*** is this 20 questions", anything other than constant piss taking and humour is regarded as beta conversation. That's the best way I can sum it up.

 

[Afro_Vacancy]

Haha. He's not a favourite person for sure, I have a lot of "friends" that are more casual acquaintances that I'd drink with, or play FIFA with etc. (as long as it's not just the two of us, then we might actually have to talk about life and stuff instead of just ribbing each other in front of an audience). So it was weird even realising that I've known this guy for like 15 years, on paper that might mean something but really I have very little connection to the guy, along with others.

OK I have nobody to gloat to. But I was licking my wounds about not doing as well as I'd hoped, after hearing mac has made money, but I just realised from going over everything I've made a really good return since I started and especially since I pumped bigger numbers in. I've got about 40% profit on what I've put in, re-investing in LTC did help that significantly (nearly doubled up that day) but even from BTC in buying when low I've made a steady profit.

Now that I've got a decent amount of money invested, seeing what happens when it goes up even $1300 is crazy, I'm gonna lose my sh*t if we get back over 18k or so (currently over 14 while writing this).

Were you tempted to buy when it went below 11k today? Or are you tempted with the low pricing of ETH and LTC right now? I know I am.

No, I did not consider buying. I might have considered selling but my account is not fully validated yet -- I can buy but I can't sell. Further I was too busy today between waking up late (jet lag), therapy, haircut at a different barber I'm trying, doctor's appointment, a meeting at work, and planning two other work-related things.

I'm not a long-term bitcoin bull. I don't believe that cryptocurrency will change the world. I think it's mostly a bubble. That said I'm happy to ride the bubble. I would actually like to invest more money (into different currencies), but I have not gotten around to it, specially into the action of setting up usernames on other databases where I can make those investments. I've been busy and lately. I'm disappointed in myself as I specifically wanted to invest in Ripple, but now that opportunity for 1,000% profit or whatever has been lost.

I am bothered that the bank won't sell me mutual funds. I have to figure out how to do that in order to diversify my portfolio. I think that I also want to buy some stock in Shiseido for kicks, and I need to figure out how to do that as well. Shiseido hasn't been doing as well as bitcoin, but it's been doing well:

I'll say though that I'm glad that coinbase halted trades today. It's perfectly fine for an exchange to halt trading during a crash -- I think the NYSE implemented certain rules of that order after the 1987 crash.

 

[Rudiger]

No, I did not consider buying. I might have considered selling but my account is not fully validated yet -- I can buy but I can't sell. Further I was too busy today between waking up late (jet lag), therapy, haircut at a different barber I'm trying, doctor's appointment, a meeting at work, and planning two other work-related things.

I'm not a long-term bitcoin bull. I don't believe that cryptocurrency will change the world. I think it's mostly a bubble. That said I'm happy to ride the bubble. I would actually like to invest more money (into different currencies), but I have not gotten around to it, specially into the action of setting up usernames on other databases where I can make those investments. I've been busy and lately. I'm disappointed in myself as I specifically wanted to invest in Ripple, but now that opportunity for 1,000% profit or whatever has been lost.

I am bothered that the bank won't sell me mutual funds. I have to figure out how to do that in order to diversify my portfolio. I think that I also want to buy some stock in Shiseido for kicks, and I need to figure out how to do that as well. Shiseido hasn't been doing as well as bitcoin, but it's been doing well:

View attachment 74064

I'll say though that I'm glad that coinbase halted trades today. It's perfectly fine for an exchange to halt trading during a crash -- I think the NYSE implemented certain rules of that order after the 1987 crash.

Selling when it got low? Was there a bit of panic? I know I felt it as it sailed way below 15k, but then I have no idea what kicked in when it got below 11k and I thought "deposit and buy, right now". A part of me thought it was mad, that's the most I've spent on a single deposit and it was at arguably the worst possible time.

I think I agree about it being mainly a bubble because with the transaction fees in particular, I have no idea how this will be feasible (though I think today's crash had something to do with the 35% reduction in transaction fees). I'm one of those idiots that you see traders on TV complaining about because I have little idea of what bitcoin actually wants to achieve, or at least, I have an idea but that seems so unrealistic!

I'll ride it in to the ground because I don't know if I'm just convincing myself of this, but I feel like either I'll lose a few months wages, or if it somehow does expand which, if it reaches a mainstream acceptability would happen incredibly quickly, it could be enormously rewarding.

 

[Afro_Vacancy]

Selling when it got low? Was there a bit of panic? I know I felt it as it sailed way below 15k, but then I have no idea what kicked in when it got below 11k and I thought "deposit and buy, right now". A part of me thought it was mad, that's the most I've spent on a single deposit and it was at arguably the worst possible time.

I think I agree about it being mainly a bubble because with the transaction fees in particular, I have no idea how this will be feasible (though I think today's crash had something to do with the 35% reduction in transaction fees). I'm one of those idiots that you see traders on TV complaining about because I have little idea of what bitcoin actually wants to achieve, or at least, I have an idea but that seems so unrealistic!

I'll ride it in to the ground because I don't know if I'm just convincing myself of this, but I feel like either I'll lose a few months wages, or if it somehow does expand which, if it reaches a mainstream acceptability would happen incredibly quickly, it could be enormously rewarding.

I did feel a bit of panic. Your response was the more rational and neutral one, in the abstract it's better to buy things when they're on lows. I hope it gets above 15,000 by the time I wake up.

 

[blackg]

Do you even know what is dopamine?
Stop talking rubbish.

Hahaha.. Surabhaj lays the smack-down.

 

[blackg]

Please keep your feelings to yourself.

Hahaha.... my eyes are dripping.
Give it to him, Surabhaj.

 

[Rudiger]

I did feel a bit of panic. Your response was the more rational and neutral one, in the abstract it's better to buy things when they're on lows. I hope it gets above 15,000 by the time I wake up.

It just came very close, within 50 dollars, shot down a little. The trend has been very similar throughout the day, it's like 2 step forwards 1 step back.

I've also noticed that ETH and LTC have had almost identical graphs for like 3 days now, it's pretty amazing when you see the similarities (maybe I'll try get a screencap, I've only noticed on my phone and you can't screencap coinbase). No idea why this is happening and I've failed to find any info as to why 2 completely different companies have such similar growth and decline at the exact same time, looking at some other crypto's it's less apparent but it's still somewhat like Bitcoin vs the world.

 

[Rudiger]

Hahaha.... my eyes are dripping.
Give it to him, Surabhaj.

Good for you, you should indeed seek friendship with him, it's more, realistic.

 

[blackg]

Good for you, you should indeed seek friendship with him, it's more, realistic.

My goal is to alienate everyone.

 

[Rudiger]

It just came very close, within 50 dollars, shot down a little. The trend has been very similar throughout the day, it's like 2 step forwards 1 step back.

I've also noticed that ETH and LTC have had almost identical graphs for like 3 days now, it's pretty amazing when you see the similarities (maybe I'll try get a screencap, I've only noticed on my phone and you can't screencap coinbase). No idea why this is happening and I've failed to find any info as to why 2 completely different companies have such similar growth and decline at the exact same time, looking at some other crypto's it's less apparent but it's still somewhat like Bitcoin vs the world.

Wow literally 1 minute after this it flew past 15k.

I'm noticing the trends of how it goes up and down, I was saying 2 steps forward and 1 back, whenever there's no 1 step back it seems to take a pretty damaging hit within a half hour.

lol this is real complicated stuff.

 

[Afro_Vacancy]

Is E-trade a good option for managing an investment portfolio?

 

[blackg]

This stuff is not so complicated.
The price goes up a bit.... then goes down a bit... then goes up a lot, followed by the inevitable crash.

Simple!

 

[JeanLucBB]

I shifted 100% to Bitcoin cash the day before it hit Coinbase, still making money n it.

@Afro_Vacancy - A while back, Bitcoin underwent what is known as a fork. The fork basically gave an equal amount of Bitcoin Cash to every bitcoin holder, so if you had 12 BTC, you were also automatically given 12 BCH by exchanges. BCH (Bitcoin Cash) is a superior technology and closer to the original vision of Satoshi Nakamoto (the creator of Bitcoin) than the current Bitcoin. Now that BCH is on Coinbase it will seriously impact BTC and take market share from it. I fully expect BCH to hit $8k in the coming weeks - this train is not stopping.

The reason BCH is superior is that it allows for many more transactions at a faster speed and at a fraction of the cost. Whereas if you wanted to send $5 to a friend in BTC you would spend at least $5 now, BCH it would only cost a penny. It has the same coin supply as BTC, and was fairly distributed to all BTC owners for free, yet it yields advantages in transactional cost and speed. BTC is not able to adjust its speed and transactional cost due to its structure, in order for it to do it it would need another fork (and there's been a few of these already). Now that BCH is on the largest exchange for beginners, it is a serious threat to BTC.

Personally, i would not be buying BTC at this point, but that's just me. I am sorry i didn't log on here to give you guys a heads up on BCH (though i did mention it before here that i felt BCH was superior and one of my choices) but i have been extraordinarily busy with work. Be careful with BTC from this point on and monitor it closely.

Agree, although this situation would completely change in that case that BTC and core devs did (in the seemingly incredibly unlikely case at this point) increase the block size to a competitive level like bitcoin cash.

Their arguments against a blocksize are even failing amongst typical core shills on r/bitcoin right now. A change in sentiment amongst their cult may be coming.

 

[JeanLucBB]

Is E-trade a good option for managing an investment portfolio?

CMC markets is much better at least in Australia but not sure about the international stocks availability on it elsewhere.

 

[Rudiger]

i'm half sorry for introducing you guys to crypto investing, you were all so innocent before then

anyways, don't worry about this correction, it will rebound. I'm betting on BCH taking a bigger chunk of the pie when the market rebounds; really hoping on a $7-$8k value for BCH and with time it taking over BTC (though that will be more challenging); ultimately the better technology should prevail, and that is BCH.

on an unrelated topic, wtf is up with all the full page ads i'm seeing on this site now - the f***? talk about obnoxious.

I don't know why you'd be sorry, I've made money on it and today's been a good day. Even if it did pop and everything went, I'm not stupid enough to invest anything I can't live without, actually what I have put up is probably less than 10% of what I'd consider "disposable", I did say it's a few months wages but take in to account I have a lot of savings over the years.

And not to sound like a beta broke *** try-hard investor but the experience itself of knowing more about this, even if still somewhat clueless, well that's somewhat invaluable.

 

[blackg]

Beta.

 

[Rudiger]

Beta.

Yeah beta, like when a guy has to confirm how inferior he is by watching another man f*** his partner and then ironically dress it up as feeling "secure" in himself.

 

[Rudiger]

i was being a bit sarcastic brehbrah, i think its good we are all in on it together trying to make it work. Even though you guys were not in on this from the beginning, trust me when i tell you we are still well in the infancy and crypto is not going anywhere. I personally feel the natural use case for blockchain/crypto is to replace the stock market, so i am waiting for the day when a large corporation lists a "stock" or coin via blockchain. It will happen, and when it does, the value will skyrocket. So much money to be made its obscene.

I see, but thanks for peaking my interest in this. I am still trying to understand and learn more about how to get a feel for different investments.

I'm going to see how BTC goes over the weekend and then decide on whether it's time to spread the profit over a few other crypto's. Like David I'm pretty disappointed I didn't latch on to Ripple, and y'know there's probably still time.