Bitcoins/Litecoins/Virtual Currencies

Rajaah

Rajaah

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Flobee said:
Some of the shitcoins I bought didn't do well... overall I've done fine. Well ahead of my cost basis, but I figured out alts were a scam fairly early on
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What's your view on MATIC? I feel like it's been the strongest besides the Big Two, but technically it's still an alt.
 
Arden

Arden

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Rajaah said:
What's your view on MATIC? I feel like it's been the strongest besides the Big Two, but technically it's still an alt.
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I think I said this once before but I'll ask it again: have you never read a Flobee post? He believes that all alt coins (including ETH) are scams to try and steal his bitcoin. How do you think he's going to feel about matic?
 
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Rajaah

Rajaah

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Onoes said:
I keep shaking my head and laughing, like 8 weeks ago I create a Coinbase account and drop $48k ($42k bitcoin, 4k eth, and a couple 1k drops on randoms I see you guys talking about like Matic). Market starts tanking a couple days later, and am now at less than half that. We'll see in a couple years wether I've lost it all or made out, but fuck if every day I'm not wishing I would have waited 2 months to start investing. Had 0 interest in any of this for 42 years of my life, get interested, spent a couple months talking about it, watching it, feeling good, finally walk through that door and immediately get kicked in the nuts.

0 thoughts of selling, ride or die, but fuck me. 😂
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I feel that, I'm down about 92% from my all-time high and about 60% from what I started investing with. At this point I don't even expect to have anything in a month. Haven't withdrawn though. Matter of fact I'm gonna buy more Bitcoin whenever I can swing it. Was gonna do that a couple weeks ago but didn't get around to it with bills and everything, so I'm still waiting for a good buy point. Right now seems like the best buy point we'll get any time soon, but I said that at 26k too. I'm thinking Tuesday early-afternoon is buy time after it crashes even more on Tuesday morning.
 
Rajaah

Rajaah

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Arden said:
I think I said this once before but I'll ask it again: have you never read a Flobee post? He believes that all alt coins (including ETH) are scams to try and steal his bitcoin. How do you think he's going to feel about matic?
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TBH I usually skim them as TLDR.

I'm wondering if his alt doom-and-gloom applies to what I consider the top alt. I actually agree that most of the alts aren't worth it. I didn't even look at LUNA when it was a thing.
 
Lambourne

Lambourne

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Don't see this bottoming out anytime soon, it was massive hype that drove the price up in the last 18 months and that hype has now gone and turned very sour for anyone that bought into it because they're all holding a substantial loss. Perhaps more importantly, a new bull run isn't really on the cards in the short term with surging cost of living putting a real squeeze on most people's expendable income.
 
Mist

Mist

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Lambourne said:
Don't see this bottoming out anytime soon, it was massive hype that drove the price up in the last 18 months and that hype has now gone and turned very sour for anyone that bought into it because they're all holding a substantial loss. Perhaps more importantly, a new bull run isn't really on the cards in the short term with surging cost of living putting a real squeeze on most people's expendable income.
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Mist said:
I still think its largely seasonal. The more bored millennials stuck inside staring at their computer = more money going into crypto. When there's other fun spring/summer stuff to spend money on = less money going into crypto.
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Kithani

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Onoes said:
I keep shaking my head and laughing, like 8 weeks ago I create a Coinbase account and drop $48k ($42k bitcoin, 4k eth, and a couple 1k drops on randoms I see you guys talking about like Matic). Market starts tanking a couple days later, and am now at less than half that. We'll see in a couple years wether I've lost it all or made out, but fuck if every day I'm not wishing I would have waited 2 months to start investing. Had 0 interest in any of this for 42 years of my life, get interested, spent a couple months talking about it, watching it, feeling good, finally walk through that door and immediately get kicked in the nuts.

0 thoughts of selling, ride or die, but fuck me. 😂
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I still stand by the prediction that 100 years from now the “Onoes entry point” will be in text books as the beginning of the end for a number of Central American governments.
 
Flobee

Flobee

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Rajaah said:
What's your view on MATIC? I feel like it's been the strongest besides the Big Two, but technically it's still an alt.
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As I recall its a Chinese layer 2 for ETH (maybe thats Loopring?). I do think its garbage. However... If you're already 92% down on your investment its not really unreasonable to just hold it and hope it survives the bear market. I hold some hot garbage myself and I plan to just hold it and see if I hit the lottery. I'm comfortable losing it at this point though

I would -never- suggest anyone actually buy this crap... but if you have it already, and especially if you're already down 92%, meh maybe its better to just hold it for now. Moving forward yea you should for sure just stack BTC and relax. Trying to out trade Bitcoin is a fools gambit. If you're trying to separate your 'alts' away from the 'shitcoins' then you're completely missing the point
 
Mist

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It's Stonkin' Time.

Game Stop GIF
 
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Arden

Arden

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Rajaah

Rajaah

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Flobee said:
As I recall its a Chinese layer 2 for ETH (maybe thats Loopring?). I do think its garbage. However... If you're already 92% down on your investment its not really unreasonable to just hold it and hope it survives the bear market. I hold some hot garbage myself and I plan to just hold it and see if I hit the lottery. I'm comfortable losing it at this point though

I would -never- suggest anyone actually buy this crap... but if you have it already, and especially if you're already down 92%, meh maybe its better to just hold it for now. Moving forward yea you should for sure just stack BTC and relax. Trying to out trade Bitcoin is a fools gambit. If you're trying to separate your 'alts' away from the 'shitcoins' then you're completely missing the point
Click to expand...

Down 92% across everything in general, but only down about 50% on MATIC in particular. I'm probably dividing buys 50/50 between that and BTC. I have way more faith in BTC, while MATIC has a lot more growth potential if it doesn't go tits-up entirely. 30 cent MATIC at a time when I didn't think it'd ever go below 60 cents again is the kind of buying gift we got at the beginning of COVID. Here we are with another opportunity. Course it'll continue to go down in the short term so I expect further gut-punches before anything even begins to get better. Averaging my way down and expecting absolutely nothing out of it short-term.

I predict the next bull run will start to get moving in Fall 2023, soon as the weather gets cold. The Bitcoin halving shortly after that is going to give things a kick-start as well.

Edit: Just remembered that Biden is president. Well maybe 2025 then
 
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