- 2,771
- 6,427
It’s definitely been a kooky evening.
I wouldn’t be surprised if it went up to 25 again tomorrow
- 1
Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
- Start date
I wouldn’t be surprised if it went up to 25 again tomorrow
Rangoth
Blackwing Lair Raider
- 1,561
- 1,704
Exactly my point. Im sure someone knowledgable in the field could predict long term winners/losers, but everything seems to be slowly climbing and remember we here at FOH are above the average investor. Crypto is slowly becoming more common and i would speculate that soon it explodes like it did a few years ago once the “common folk” get involved. As others said we are starting to see big name players jump on and it shows no signs of slowing down.
Long story short, i think all dips in crypto right now are the standard swings for this market and we are only going up. I think even shitcoins will double in value while the whichever goes to the top(ETH?) will go 10-20x in value. Basically i dont think there will be a pure drop to zero for any of the coins.
If you are swing trading vet id hold a week max and id bet you can make at least 50%. If you think vet will be the new thing youd maybe be right and in 3 years it could be worth 2k+ like ETH.
My basic coin strat is 2-3 years hold time then re-evaluate. Looking at the history im kicking myself for not doing this 3 years ago, but im not missing out again(or so i hope). Im not quite at the liquidate my portfolio stage to buy into this stuff, but im putting whatever extra i have into it. Sad part is ill probably regret not liquidating all of it for crypto because no fucking stock is going to x15+ in 2 years
. But im a bit conservative financially and risk adverse.- 1
Rajaah
Honorable Member
- 11,246
- 14,927
Yeah, rough day for me spending literally $2300 on it at .22 and then $500 at .19, not house money at all, totally my last crypto-available funds for the moment, and then seeing it go to .15.
Not because I'm down on money, but because I could have gotten SO MUCH MORE if I'd happened to get on there to buy a few hours later than I did.
Rajaah
Honorable Member
- 11,246
- 14,927
Exactly my point. Im sure someone knowledgable in the field could predict long term winners/losers, but everything seems to be slowly climbing and remember we here at FOH are above the average investor. Crypto is slowly becoming more common and i would speculate that soon it explodes like it did a few years ago once the “common folk” get involved. As others said we are starting to see big name players jump on and it shows no signs of slowing down.
Long story short, i think all dips in crypto right now are the standard swings for this market and we are only going up. I think even shitcoins will double in value while the whichever goes to the top(ETH?) will go 10-20x in value. Basically i dont think there will be a pure drop to zero for any of the coins.
If you are swing trading vet id hold a week max and id bet you can make at least 50%. If you think vet will be the new thing youd maybe be right and in 3 years it could be worth 2k+ like ETH.
My basic coin strat is 2-3 years hold time then re-evaluate. Looking at the history im kicking myself for not doing this 3 years ago, but im not missing out again(or so i hope). Im not quite at the liquidate my portfolio stage to buy into this stuff, but im putting whatever extra i have into it. Sad part is ill probably regret not liquidating all of it for crypto because no fucking stock is going to x15+ in 2 years
Yeah, I'd like to have Eth and VET both, maybe 50/50, and see what happens over five years. Though right now I only have the funds to have a decent investment in one or the other. Like I mentioned before, if we get a big VET spike I'll take some out and put it in Eth so that I'm not running on zero with it.
I think everybody's kicking themselves for not doing this 3 years ago.
As for stocks...SPACs can do some pretty big numbers. I had a +50% profit on CCIV that could have been +400% if I'd held my initial investment rather than bailing and then buying back in.
I need for BTNB and PSTH to take off so I can convert those investments into crypto, would be able to get plenty of Eth then. I won't sell either until they make big moves and am hovering at around -10% on both perpetually in the meantime.
Sanrith Descartes
Veteran of a thousand threadban wars
- 41,467
- 107,522
50k never looks as good on the way down and it does on the way up.
- 1
- 1
Tmac
Adventurer
- 9,322
- 15,840
I bought BTC at $15k and watched it fall to $3k. I ultimately ended up making $8k profit by doing nothing bc the price doubled to $32k by the time I sold. Even then I bought back in at $48k and $60k and would be better off if I never sold.
I'm long, so IDGAF if it goes back to $15k and I lose half my money, I'll just buy more. Then I'll actually have a few whole BTC's which is a win in my book.
- 2
Lambourne
Ahn'Qiraj Raider
- 2,714
- 6,524
Biden tanked the market not 10 minutes after I posted this. Comfy 13% on that short now. I liked Trump but this Biden guy making it rain for bears.
- 11,041
- 41,723
I'm currently sitting on a pile of USDC for the last day and a half or so. Waiting for the BTC/ETH blood to get flowing proper then stepping back in.
My little moonbags are small enough that I'm not focused on liquidating them, on the chance one has an unexpected counter-market boom.
My little moonbags are small enough that I'm not focused on liquidating them, on the chance one has an unexpected counter-market boom.
Rajaah
Honorable Member
- 11,246
- 14,927
What did Biden do? I can't keep up with the news nor do I want to at this point. I thought Yellen's comments this week were the big issue.
Lambourne
Ahn'Qiraj Raider
- 2,714
- 6,524
Headlines I read had it as a Biden plan, maybe it was Yellen who actually said it. That drop started right after it hit the internet anyway.
thehill.com
Biden plan would nearly double capital gains tax for wealthy: report
President Biden is reportedly preparing a proposal for a near-doubling of the capital gains tax for wealthier Americans, increasing the rate to 39.6 percent, up from the current top rate of 20 percent, according to a report in
- 2,771
- 6,427
I am in the green but fuuuuuck I wish I could have maximized my VET holdings with a lower limit buy. I could be sitting on an additional 80k VET right now to almost 300,000.
- 1
Rajaah
Honorable Member
- 11,246
- 14,927
Yeah, the pain is real. Weeks of wishing I could have gotten into VET pre-.20 thinking that was firmly in the rear-view mirror, buy-ins at an average of probably .22, and now I'm sitting here with nothing else to invest now that it IS pre-.20. Especially painful considering my last big buy-in was mere HOURS before the drop.
- 1
- 10,502
- 54,159
Good post, and I'm not trying to crap on bitcoin per se, I'm just saying the very point of the monetary system is corruption and they will squash any threat to continuing the grift. Corruption is a feature, not a bug.
To address your bullet points:
1. They don't care. They don't care about avoiding any of that. They talk about it, but they will collapse the entire system before they actually take action so it's a moot point.
2. How long term are we talking? After a collapse of a currency? At that point, it doesn't matter. Governments and economies don't operate on geologic timelines, 20 years is a long time in monetary policy terms, and 50 years is about as long as any currency system lasts without major reforms. We are in that window now if you look at the last time the dollar shifted which was when we went off the gold standard in the early '70s.
3. Not much longer. What will replace it will be either a digital dollar, or more likely the Yuan. China's problems will magically disappear if they become the world's reserve currency, just like all of our stupid policies like QE are masked by being the world's reserve currency.
4. Bitcoin isn't built on debt, and debt is the point of the current system. Like I said, it's a feature not a bug, it's how they fuck everyone and accrue all wealth to themselves over time. Going away from that is needed I agree, but it won't come without a massive upheaval and that upheaval is very unlikely to come from within the US sphere of influence. The central banks/fed are simply too powerful. Whether it meets all of those goals is irrelevant to our current rulers, and that's who's going to decide whether it lives or dies, not us.
5. Governments are full of the incompetent, true. But the people who ACTUALLY control govs: fed reserve, wall street, central banks, etc are pretty much the most competent and ruthless people on the planet. If you think the actual 'people' of the US or west have any say in the government's monetary policy, or any policy that affects the aforementioned people... well I have this great fractional ownership deal on a large clock in London I'd like to share with you. Or maybe we can ask all those people who are currently serving time for all the bullshit that caused the 2008 collapse... oh wait...
6. Afraid of a few globalists personally? No. Afraid of the militaries they control? The nukes they control? Their ability to dictate 'reality' through the media? Yes. You do understand these people control TRILLIONS of dollars and all western govs through their proxies and by extension their militaries, including the US military? We're talking about the entire system here. Monetary policy is at the root of it, and there is no way in hell that while these people still have power they will brook any serious competitor to that power.
Don't get me wrong, I think if bitcoin or some other decentralized currency were allowed to do its thing like you're talking about, it would unfuck the world in many many ways like you say. But the powers that control the world's money will never allow that to happen BECAUSE of that very reason.
This is all just my opinion though and I seem to becoming more cynical by the minute, so grain of salt and all that
- 5
- 2,771
- 6,427
No kidding, when I originally made a lot of money on VET by buying at 19 before it ran to 25-26, I was like dang, I had a chance at buying it at 13-14 a week prior. Then we missed the shot again.
- 1
Flobee
Vyemm Raider
- 2,606
- 2,996
Everything you said is true and certainly possible. I guess at the end of the day it comes down to belief. I choose to believe that our world can be redeemed. I don't think its a foregone conclusion that the 'bad guys' win and I'm willing to do my part to keep that from happening. I certainly don't think the transition is going to be pretty, or easy for any of us. I just think that the technology is strong enough and gives individuals enough power to topple these massively corrupt institutions.This is all just my opinion though and I seem to becoming more cynical by the minute, so grain of salt and all that
Nobody thought that the Catholic church would ever lose power, but the printing press removed their monopoly on information and as a result they lost a massive amount of influence. I think technology is going to free us from the oppressive control of the past generations. The book 'The Sovereign Individual' was an informative read for me and set up the framework for how I see things playing out generally. They predicted most of what has happened back in 1999.
I see a paradigm shift happening in the near future, hard to deny that. I'm banking on human innovation out competing centralized authoritarianism again similarly to how it did in the Cold War. Hopefully I'm right.
- 1
Rajaah
Honorable Member
- 11,246
- 14,927
Yeah, it's rough. I hope this ends up being like MANA where it waffled between the teens and .20's for a while with similar dips and movement before eventually leaving that in the dust and establishing a new floor of about .90. Way I see it is, if VET stays low it'll give people more chances to buy in. If it goes up then we're not losing. So either way is fine, as long as we're under the assumption that it's going to go up overall. I'd say there's close to zero doubt of that in the short-term. The long-term is a bit more worrisome. Cryptos SHOULD be incredibly solid long-term prospects as society evolves, but I can't discount the government's ability to stop that in its tracks and fuck crypto up if they decide to go that route.
Lightning Lord Rule
's posts on here lately have been better than any college dissertations I can remember listening to. Being cynical or pessimistic just means you're informed and aware. The powers that be and their media empire have made people think it's "anti-semitic" to criticize big banks or even use the word globalist (I didn't realize the uber-wealthy were all Jewish, probably because they aren't). That particular branding has really stuck to the point that people I know think I'm saying something racist when I talk about globalists. It's neat seeing how deep the mind-control goes and watching it in action. In any case the only way said powers that be allow something threatening (aka crypto) to exist is if they themselves can profit off of it. I'd say there's a reasonable chance it'll be left alone if they can utilize it for profit/control in a more effective way than what they have now. However like you said, debt is the main mechanic they use for control now, and they certainly don't want to lose that grip on everyone.- 1
- 10,502
- 54,159
Pretty much any reply I can think of for this post veers off into subjects so far afield from anything crypto related that it's almost certainly the start of a pol/history/religion derail so I'll leave it alone.
I'll just say that optimism is a good thing, and entirely necessary since nihilism is such a poisonous way to look at the world. Personally I need to see something besides crypto by itself before I buy into that optimism though. In the meantime, I think it's good to look at how to take advantage of this thing for max benefits/profits while we can.
- 1
- 1
- 10,502
- 54,159
I can't tell if this is flattering or an indictment of how far the college system has fallen
I pull my opinions from a variety of non-mainstream and likely contradictory sources to form my opinions, but I'm always open and even looking for new things that may change my views.
thetruthisoutthere.gif
- 1
- 1
