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Bitcoin bear market
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Everything the cult claimed about Crypto is failing miserably right now! It's failing in a downturn, people unable to withdraw. Its still fully reliable on Fiat!
The Tesla cult to follow suit very soon I reckon! |
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I must say I’ve a major case of schadenfreude at the minute. All these buck eejits putting their savings in their crypto portfolios telling me I didn’t get it, sure what would I know I only had a finance degree…. |
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By *oodieboi88 OP Man
over a year ago
Sth dub, nth wicklow |
Haha love it guys  im invested in crypto since 2013 and tesla since only 2020 lol trust me ive been waiting for this bear market  dont be caught scratching your balls in 2025 regretting not investing now  |
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"Gonna buy btc all the way down to 13k miracle if it dropped below that but who knows its never been tested with a global crash ill be back in 2025 posting my profit. "
Would you just not wait until it goes to 13k and then buy more of it at that price. What the he'll would you be buying down for?...Will you stop buying down after it goes below 13k?
Never catch a falling dagger! |
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By *oodieboi88 OP Man
over a year ago
Sth dub, nth wicklow |
"Gonna buy btc all the way down to 13k miracle if it dropped below that but who knows its never been tested with a global crash ill be back in 2025 posting my profit.
Would you just not wait until it goes to 13k and then buy more of it at that price. What the he'll would you be buying down for?...Will you stop buying down after it goes below 13k?
Never catch a falling dagger!"
And if im wrong and it only drops to 15k? Think ill dollar cost average every month with a fixed amount long term. Not sure about falling daggers in todays climate, plenty of companies with good revenue, balance sheet and prospects sub 50% YTD
Buy the dip |
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By (user no longer on site)
over a year ago
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One thing that the parents always said if it sounds too good to be true it normally is and I know different times to pyramid stuff when we were young hopefully ye all make money off it |
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By *oodieboi88 OP Man
over a year ago
Sth dub, nth wicklow |
"One thing that the parents always said if it sounds too good to be true it normally is and I know different times to pyramid stuff when we were young hopefully ye all make money off it "
 i can understand the ponzi scheme and tulip mania perspective.
But as H Ford said "It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning"
The dollar has lost 96% of its value since its creation. Im not waiting for the next 96% loss |
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By *hyeyesMan
over a year ago
meath |
"Haha love it guys im invested in crypto since 2013 and tesla since only 2020 lol trust me ive been waiting for this bear market dont be caught scratching your balls in 2025 regretting not investing now "
Ur better off backing horses pal |
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By *ancy38Woman
over a year ago
galway |
"I think people realise the crypto just isn't stable enough for long term investment.
Crypto, French bull dogs and XL bullies give it a year or two and nobody will want them
"
Once they start ridding of cash, cyptro will break all records. |
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"I think people realise the crypto just isn't stable enough for long term investment.
Crypto, French bull dogs and XL bullies give it a year or two and nobody will want them
Once they start ridding of cash, cyptro will break all records. "
Once people realise that putting your money into crypto is chaotic speculation and that it's not even related to investing, then they'll be fine.
It's those who think they are investing I'd be concerned for!
Big problem in this country distinguishing between the two! |
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By *oodieboi88 OP Man
over a year ago
Sth dub, nth wicklow |
"Haha love it guys im invested in crypto since 2013 and tesla since only 2020 lol trust me ive been waiting for this bear market dont be caught scratching your balls in 2025 regretting not investing now
Ur better off backing horses pal "
Definately not, did that 2005 to 2010 with no gainz  |
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By (user no longer on site)
over a year ago
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Same here...my friend told me to sell at 65k and buy it at 20k ...I didn't believe his analysis...I was following a guy called planb..his prediction was pretty accurate until I bought trusting his analysis and everything went belly up after that lol |
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"Gonna buy btc all the way down to 13k miracle if it dropped below that but who knows its never been tested with a global crash ill be back in 2025 posting my profit. "
Another hammering today Needs!!
Needs to find serious support and fast. If it goes through 19k I've a feeling it will see 11k in no time.
Shout out to the crypto bros that were sitting in their penthouses laughing at rush hour traffic!..CVs printing as we speak! |
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"One thing that the parents always said if it sounds too good to be true it normally is and I know different times to pyramid stuff when we were young hopefully ye all make money off it "
The problem is there ARE millionaires and billionaires made from crypto. It's a real thing that has made a lot of people a lot of money. It's ALL about when to buy and when to sell. For those people who got it right it wasn't too good to be true. For them it has been a massive success. |
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"One thing that the parents always said if it sounds too good to be true it normally is and I know different times to pyramid stuff when we were young hopefully ye all make money off it
The problem is there ARE millionaires and billionaires made from crypto. It's a real thing that has made a lot of people a lot of money. It's ALL about when to buy and when to sell. For those people who got it right it wasn't too good to be true. For them it has been a massive success. "
It's those millionaires and billionaires, of which there are only a few, who have been pumping and dumping Crypto.
The state of people like Matt Damon, getting paid for this and many other influencer also on various social media. Millions of people sucked in and skint! |
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"One thing that the parents always said if it sounds too good to be true it normally is and I know different times to pyramid stuff when we were young hopefully ye all make money off it
The problem is there ARE millionaires and billionaires made from crypto. It's a real thing that has made a lot of people a lot of money. It's ALL about when to buy and when to sell. For those people who got it right it wasn't too good to be true. For them it has been a massive success.
It's those millionaires and billionaires, of which there are only a few, who have been pumping and dumping Crypto.
The state of people like Matt Damon, getting paid for this and many other influencer also on various social media. Millions of people sucked in and skint!"
Sure.. some did. Others just got in early and sold near the peak |
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"The scared people sell
The smart people buy when there's blood on the streets "
Knock yourself out, there is heaps of it for sale now. You can buy some more again next week when it's even lower again! |
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By *oo32Man
over a year ago
tipperary |
I'm still confused....
Are we viral experts...or experts on European law...or political experts.. or financial investment experts...
I don't have time to keep up with it all....and after work I normally just like to read or watch tv |
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"I think people realise the crypto just isn't stable enough for long term investment.
Crypto, French bull dogs and XL bullies give it a year or two and nobody will want them
"
Dogs trust goin a be busssseey |
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By (user no longer on site)
over a year ago
|
"Haha love it guys im invested in crypto since 2013 and tesla since only 2020 lol trust me ive been waiting for this bear market dont be caught scratching your balls in 2025 regretting not investing now "
What price do you suggest selling at? If you bought in in 2013 surely you've sold by now? |
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By (user no longer on site)
over a year ago
|
Surely will only go lower now that its below 20k USD. Alot of banks and hedge funds are in at 20k. Once they start to reflect loses on their balance sheet they'll have no option but to sell this driving the price lower.
What I don't get is this bitcoin is a not linked to fiat and world banks can't control it. Yet the economy starts to tank, interest rates go up and bitcoin is down over 60% YTD.
Why not just invest in apple, amazon, alibaha and the like? |
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"Surely will only go lower now that its below 20k USD. Alot of banks and hedge funds are in at 20k. Once they start to reflect loses on their balance sheet they'll have no option but to sell this driving the price lower.
What I don't get is this bitcoin is a not linked to fiat and world banks can't control it. Yet the economy starts to tank, interest rates go up and bitcoin is down over 60% YTD.
Why not just invest in apple, amazon, alibaha and the like? "
These were all the things Bitcoin was supposed to protect you against, according to its strongest proponents. Buts its failing.
Its probably just too early for crypto, maybe in the next generation. As right now it appears cash is still king! |
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"I'm still confused....
Are we viral experts...or experts on European law...or political experts.. or financial investment experts...
I don't have time to keep up with it all....and after work I normally just like to read or watch tv"
Plenty of people have varied interests in the issues effecting the world we live in. Its healthy. Nothing wrong with being up to date with everything going on. |
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"Surely will only go lower now that its below 20k USD. Alot of banks and hedge funds are in at 20k. Once they start to reflect loses on their balance sheet they'll have no option but to sell this driving the price lower.
What I don't get is this bitcoin is a not linked to fiat and world banks can't control it. Yet the economy starts to tank, interest rates go up and bitcoin is down over 60% YTD.
Why not just invest in apple, amazon, alibaha and the like?
These were all the things Bitcoin was supposed to protect you against, according to its strongest proponents. Buts its failing.
Its probably just too early for crypto, maybe in the next generation. As right now it appears cash is still king!"
Cash, or currency if you like, still represents real economies with farms, factories, people, roads, railways, hospitals, healthcare and so on… . Crypto represents nothing in the real world as far as I can see. |
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By *oo32Man
over a year ago
tipperary |
"I'm still confused....
Are we viral experts...or experts on European law...or political experts.. or financial investment experts...
I don't have time to keep up with it all....and after work I normally just like to read or watch tv
Plenty of people have varied interests in the issues effecting the world we live in. Its healthy. Nothing wrong with being up to date with everything going on. "
Not when the same ones seem to be experts on just about everything |
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By *ubal1Man
over a year ago
Newry Down |
For those who devised the cryptocurrency constructs and successfully promoted their brand to gain wider acceptance within the financial systems, and sold out at the peak, they are likely to have made a killing; for other copycat investors it has probably been an unwise business speculation, unless they planned their entry and exit points fortuitously.
For me, Cryptos are simply too risky; the ripoff artists control this game. |
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"Surely will only go lower now that its below 20k USD. Alot of banks and hedge funds are in at 20k. Once they start to reflect loses on their balance sheet they'll have no option but to sell this driving the price lower.
What I don't get is this bitcoin is a not linked to fiat and world banks can't control it. Yet the economy starts to tank, interest rates go up and bitcoin is down over 60% YTD.
Why not just invest in apple, amazon, alibaha and the like?
These were all the things Bitcoin was supposed to protect you against, according to its strongest proponents. Buts its failing.
Its probably just too early for crypto, maybe in the next generation. As right now it appears cash is still king!"
Cash is trash. You’re losing if you’re not invested in something. Doesn’t matter if it’s stocks, crypto, property, or anything that generates a yield. |
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All of you people on here crying and saying it’s dead, must have invested a few months ago, panicked and sold at a loss. Anyone who’s been invested longer is still way up, expected this bear market, and is calmly buying more until the next bull market. |
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"All of you people on here crying and saying it’s dead, must have invested a few months ago, panicked and sold at a loss. Anyone who’s been invested longer is still way up, expected this bear market, and is calmly buying more until the next bull market."
None of the above!
Most of those who bought crypto pre-2019 are long sold, except for those that got sucked in by the massive amount of pumpers. Anybody who bought since is losing money.
Nobody with any sense is buying now. It's very important to understand if your an investor or a speculator. If you're "calmly buying" right now, you're a speculator! |
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By (user no longer on site)
over a year ago
|
"All of you people on here crying and saying it’s dead, must have invested a few months ago, panicked and sold at a loss. Anyone who’s been invested longer is still way up, expected this bear market, and is calmly buying more until the next bull market."
There only up if they sold. And at what point would you suggest selling?? |
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By (user no longer on site)
over a year ago
|
"All of you people on here crying and saying it’s dead, must have invested a few months ago, panicked and sold at a loss. Anyone who’s been invested longer is still way up, expected this bear market, and is calmly buying more until the next bull market.
None of the above!
Most of those who bought crypto pre-2019 are long sold, except for those that got sucked in by the massive amount of pumpers. Anybody who bought since is losing money.
Nobody with any sense is buying now. It's very important to understand if your an investor or a speculator. If you're "calmly buying" right now, you're a speculator!"
How can you invest in something that has no real value? It doesn't generate a profit.
The only thing your investing in is the hope that someone else comes in a buys at a larger price than what you bought at. |
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"All of you people on here crying and saying it’s dead, must have invested a few months ago, panicked and sold at a loss. Anyone who’s been invested longer is still way up, expected this bear market, and is calmly buying more until the next bull market.
None of the above!
Most of those who bought crypto pre-2019 are long sold, except for those that got sucked in by the massive amount of pumpers. Anybody who bought since is losing money.
Nobody with any sense is buying now. It's very important to understand if your an investor or a speculator. If you're "calmly buying" right now, you're a speculator!
How can you invest in something that has no real value? It doesn't generate a profit.
The only thing your investing in is the hope that someone else comes in a buys at a larger price than what you bought at. "
If you think it has no value, then I really can’t help you.
The ‘greater fool’ theory happens in all investments. You buy shares in Coca Cola, hoping that someone will buy them off you for a higher price. |
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"All of you people on here crying and saying it’s dead, must have invested a few months ago, panicked and sold at a loss. Anyone who’s been invested longer is still way up, expected this bear market, and is calmly buying more until the next bull market.
None of the above!
Most of those who bought crypto pre-2019 are long sold, except for those that got sucked in by the massive amount of pumpers. Anybody who bought since is losing money.
Nobody with any sense is buying now. It's very important to understand if your an investor or a speculator. If you're "calmly buying" right now, you're a speculator!"
Have you checked the blockchain, or are you just guessing? |
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By (user no longer on site)
over a year ago
|
"All of you people on here crying and saying it’s dead, must have invested a few months ago, panicked and sold at a loss. Anyone who’s been invested longer is still way up, expected this bear market, and is calmly buying more until the next bull market.
None of the above!
Most of those who bought crypto pre-2019 are long sold, except for those that got sucked in by the massive amount of pumpers. Anybody who bought since is losing money.
Nobody with any sense is buying now. It's very important to understand if your an investor or a speculator. If you're "calmly buying" right now, you're a speculator!
How can you invest in something that has no real value? It doesn't generate a profit.
The only thing your investing in is the hope that someone else comes in a buys at a larger price than what you bought at.
If you think it has no value, then I really can’t help you.
The ‘greater fool’ theory happens in all investments. You buy shares in Coca Cola, hoping that someone will buy them off you for a higher price."
No you buy shares in coca cola because you can see the profit on their balance sheet, dividends they have paid in the past, sales records.
What is the value of bitcoin? |
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"All of you people on here crying and saying it’s dead, must have invested a few months ago, panicked and sold at a loss. Anyone who’s been invested longer is still way up, expected this bear market, and is calmly buying more until the next bull market.
None of the above!
Most of those who bought crypto pre-2019 are long sold, except for those that got sucked in by the massive amount of pumpers. Anybody who bought since is losing money.
Nobody with any sense is buying now. It's very important to understand if your an investor or a speculator. If you're "calmly buying" right now, you're a speculator!
How can you invest in something that has no real value? It doesn't generate a profit.
The only thing your investing in is the hope that someone else comes in a buys at a larger price than what you bought at.
If you think it has no value, then I really can’t help you.
The ‘greater fool’ theory happens in all investments. You buy shares in Coca Cola, hoping that someone will buy them off you for a higher price.
No you buy shares in coca cola because you can see the profit on their balance sheet, dividends they have paid in the past, sales records.
What is the value of bitcoin? "
And you hope the sales increase so that you can sell your shares to someone else in future. But neither of you are in the Coca Cola boardroom so you have no idea of the true value. |
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By (user no longer on site)
over a year ago
|
"All of you people on here crying and saying it’s dead, must have invested a few months ago, panicked and sold at a loss. Anyone who’s been invested longer is still way up, expected this bear market, and is calmly buying more until the next bull market.
None of the above!
Most of those who bought crypto pre-2019 are long sold, except for those that got sucked in by the massive amount of pumpers. Anybody who bought since is losing money.
Nobody with any sense is buying now. It's very important to understand if your an investor or a speculator. If you're "calmly buying" right now, you're a speculator!
How can you invest in something that has no real value? It doesn't generate a profit.
The only thing your investing in is the hope that someone else comes in a buys at a larger price than what you bought at.
If you think it has no value, then I really can’t help you.
The ‘greater fool’ theory happens in all investments. You buy shares in Coca Cola, hoping that someone will buy them off you for a higher price.
No you buy shares in coca cola because you can see the profit on their balance sheet, dividends they have paid in the past, sales records.
What is the value of bitcoin?
And you hope the sales increase so that you can sell your shares to someone else in future. But neither of you are in the Coca Cola boardroom so you have no idea of the true value."
Well I could look at increased population, new products, M and As, entry to new markets.
So come on. What's the value of bitcoin? |
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"All of you people on here crying and saying it’s dead, must have invested a few months ago, panicked and sold at a loss. Anyone who’s been invested longer is still way up, expected this bear market, and is calmly buying more until the next bull market.
None of the above!
Most of those who bought crypto pre-2019 are long sold, except for those that got sucked in by the massive amount of pumpers. Anybody who bought since is losing money.
Nobody with any sense is buying now. It's very important to understand if your an investor or a speculator. If you're "calmly buying" right now, you're a speculator!
How can you invest in something that has no real value? It doesn't generate a profit.
The only thing your investing in is the hope that someone else comes in a buys at a larger price than what you bought at.
If you think it has no value, then I really can’t help you.
The ‘greater fool’ theory happens in all investments. You buy shares in Coca Cola, hoping that someone will buy them off you for a higher price.
No you buy shares in coca cola because you can see the profit on their balance sheet, dividends they have paid in the past, sales records.
What is the value of bitcoin?
And you hope the sales increase so that you can sell your shares to someone else in future. But neither of you are in the Coca Cola boardroom so you have no idea of the true value.
Well I could look at increased population, new products, M and As, entry to new markets.
So come on. What's the value of bitcoin? "
Bitcoins use case is a store of value, like digital gold. You can say that has no value, but try storing or shipping tons of gold when you want to send it to someone. If you look at other cryptos like Ethereum, you can replace a lot of traditional finance with transparent decentralized versions. |
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By *un17Man
over a year ago
Ennis |
I don’t understand or invest in crypto but if you study the charts and look at what is going on not what you want to think is going on and at the speed it’s falling 0 is a real possibility coinbase layed off 1100 people last week and another broker that I can’t think of aren’t paying out any more so crypto is in real trouble in the case of bitcoin 20000 holds it might have a chance if it doesn’t 12 is next stop then 5 and 0 |
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"I don’t understand or invest in crypto but if you study the charts and look at what is going on not what you want to think is going on and at the speed it’s falling 0 is a real possibility coinbase layed off 1100 people last week and another broker that I can’t think of aren’t paying out any more so crypto is in real trouble in the case of bitcoin 20000 holds it might have a chance if it doesn’t 12 is next stop then 5 and 0 "
Turn on log scale on the chart that you are looking at. 11k to 15k is the bottom, then we go up next year. |
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By *un17Man
over a year ago
Ennis |
Two golden rules never look for for tops or bottoms and trade what you see not what you think you don’t know what’s going to happen next week never mind next year all the experts were talking 150 300 by this year it’s not going to happen so just be careful and only invest what you can afford to loose |
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"I don’t understand or invest in crypto but if you study the charts and look at what is going on not what you want to think is going on and at the speed it’s falling 0 is a real possibility coinbase layed off 1100 people last week and another broker that I can’t think of aren’t paying out any more so crypto is in real trouble in the case of bitcoin 20000 holds it might have a chance if it doesn’t 12 is next stop then 5 and 0
Turn on log scale on the chart that you are looking at. 11k to 15k is the bottom, then we go up next year."
Its needs to hold the 20k it did today.
11-12k is not the bottom,it is support. If the support fails we'll be in new territory! |
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By *hyeyesMan
over a year ago
meath |
"I don’t understand or invest in crypto but if you study the charts and look at what is going on not what you want to think is going on and at the speed it’s falling 0 is a real possibility coinbase layed off 1100 people last week and another broker that I can’t think of aren’t paying out any more so crypto is in real trouble in the case of bitcoin 20000 holds it might have a chance if it doesn’t 12 is next stop then 5 and 0
Turn on log scale on the chart that you are looking at. 11k to 15k is the bottom, then we go up next year."
Ur brainwashed pal ...
Who excepts bitcoins for payment ....
|
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"Surely will only go lower now that its below 20k USD. Alot of banks and hedge funds are in at 20k. Once they start to reflect loses on their balance sheet they'll have no option but to sell this driving the price lower.
What I don't get is this bitcoin is a not linked to fiat and world banks can't control it. Yet the economy starts to tank, interest rates go up and bitcoin is down over 60% YTD.
Why not just invest in apple, amazon, alibaha and the like?
These were all the things Bitcoin was supposed to protect you against, according to its strongest proponents. Buts its failing.
Its probably just too early for crypto, maybe in the next generation. As right now it appears cash is still king!
Cash is trash. You’re losing if you’re not invested in something. Doesn’t matter if it’s stocks, crypto, property, or anything that generates a yield."
Crypto doesn’t generate a yield only capital growth or capital loss, mostly the latter recently! Cash in savings generates an interest yield, it’s just woeful compared to inflation |
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"All of you people on here crying and saying it’s dead, must have invested a few months ago, panicked and sold at a loss. Anyone who’s been invested longer is still way up, expected this bear market, and is calmly buying more until the next bull market.
None of the above!
Most of those who bought crypto pre-2019 are long sold, except for those that got sucked in by the massive amount of pumpers. Anybody who bought since is losing money.
Nobody with any sense is buying now. It's very important to understand if your an investor or a speculator. If you're "calmly buying" right now, you're a speculator!
How can you invest in something that has no real value? It doesn't generate a profit.
The only thing your investing in is the hope that someone else comes in a buys at a larger price than what you bought at.
If you think it has no value, then I really can’t help you.
The ‘greater fool’ theory happens in all investments. You buy shares in Coca Cola, hoping that someone will buy them off you for a higher price.
No you buy shares in coca cola because you can see the profit on their balance sheet, dividends they have paid in the past, sales records.
What is the value of bitcoin?
And you hope the sales increase so that you can sell your shares to someone else in future. But neither of you are in the Coca Cola boardroom so you have no idea of the true value.
Well I could look at increased population, new products, M and As, entry to new markets.
So come on. What's the value of bitcoin?
Bitcoins use case is a store of value, like digital gold. You can say that has no value, but try storing or shipping tons of gold when you want to send it to someone. If you look at other cryptos like Ethereum, you can replace a lot of traditional finance with transparent decentralized versions."
Curropto have no value. Whilst it is true there can be a finite number of bitcoin units there can be an infinite number of such currencies can be created. Unlike gold the total supply of crypto units is limitless |
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"Surely will only go lower now that its below 20k USD. Alot of banks and hedge funds are in at 20k. Once they start to reflect loses on their balance sheet they'll have no option but to sell this driving the price lower.
What I don't get is this bitcoin is a not linked to fiat and world banks can't control it. Yet the economy starts to tank, interest rates go up and bitcoin is down over 60% YTD.
Why not just invest in apple, amazon, alibaha and the like?
These were all the things Bitcoin was supposed to protect you against, according to its strongest proponents. Buts its failing.
Its probably just too early for crypto, maybe in the next generation. As right now it appears cash is still king!
Cash is trash. You’re losing if you’re not invested in something. Doesn’t matter if it’s stocks, crypto, property, or anything that generates a yield.
Crypto doesn’t generate a yield only capital growth or capital loss, mostly the latter recently! Cash in savings generates an interest yield, it’s just woeful compared to inflation"
It’s unlikely that anyone comes to a swinging site to learn about crypto currency, so I’m not going to bother correcting this and arguing with you. |
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"Gonna buy btc all the way down to 13k miracle if it dropped below that but who knows its never been tested with a global crash ill be back in 2025 posting my profit.
Would you just not wait until it goes to 13k and then buy more of it at that price. What the he'll would you be buying down for?...Will you stop buying down after it goes below 13k?
Never catch a falling dagger!"
Love that quote. Never catch a falling dagger
|
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There has to be balance in everything and as many posters have said its about when you buy and when you sell and you tolerance for risk.
Regular old equities will fluctuate with the economies but the shares to me have a value. There is a worth of a company behind them and there is a dividend in many cases. If I compare them to a commodity such as silver or gold or crypto its all about the value of what I own and like betting on horse there are people with way more information than I have so I am likely to lose.
If you are putting money into crypto it can only be money you are prepared to lose as a trade off to the upside risk.
Lets be careful out their folks.
Anyways, we need all the money we can get to fund the cost of hotels for meets. Crazy stuff that!!! |
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"Surely will only go lower now that its below 20k USD. Alot of banks and hedge funds are in at 20k. Once they start to reflect loses on their balance sheet they'll have no option but to sell this driving the price lower.
What I don't get is this bitcoin is a not linked to fiat and world banks can't control it. Yet the economy starts to tank, interest rates go up and bitcoin is down over 60% YTD.
Why not just invest in apple, amazon, alibaha and the like?
These were all the things Bitcoin was supposed to protect you against, according to its strongest proponents. Buts its failing.
Its probably just too early for crypto, maybe in the next generation. As right now it appears cash is still king!
Cash is trash. You’re losing if you’re not invested in something. Doesn’t matter if it’s stocks, crypto, property, or anything that generates a yield.
Crypto doesn’t generate a yield only capital growth or capital loss, mostly the latter recently! Cash in savings generates an interest yield, it’s just woeful compared to inflation
It’s unlikely that anyone comes to a swinging site to learn about crypto currency, so I’m not going to bother correcting this and arguing with you."
There is no correcting this... because its true. Bitcoin doesn't generate interest. Compound interest doesn't happen. Its just a bet on an increase in market value. |
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"Surely will only go lower now that its below 20k USD. Alot of banks and hedge funds are in at 20k. Once they start to reflect loses on their balance sheet they'll have no option but to sell this driving the price lower.
What I don't get is this bitcoin is a not linked to fiat and world banks can't control it. Yet the economy starts to tank, interest rates go up and bitcoin is down over 60% YTD.
Why not just invest in apple, amazon, alibaha and the like?
These were all the things Bitcoin was supposed to protect you against, according to its strongest proponents. Buts its failing.
Its probably just too early for crypto, maybe in the next generation. As right now it appears cash is still king!
Cash is trash. You’re losing if you’re not invested in something. Doesn’t matter if it’s stocks, crypto, property, or anything that generates a yield.
Crypto doesn’t generate a yield only capital growth or capital loss, mostly the latter recently! Cash in savings generates an interest yield, it’s just woeful compared to inflation
It’s unlikely that anyone comes to a swinging site to learn about crypto currency, so I’m not going to bother correcting this and arguing with you.
There is no correcting this... because its true. Bitcoin doesn't generate interest. Compound interest doesn't happen. Its just a bet on an increase in market value."
There are other cryptos that generate yield, there are proof of stake chains that you pay you yield to stake your coins such as polkadot, cardano, and eventually Ethereum. There is also defi which is more complicated but generates yield. |
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"Surely will only go lower now that its below 20k USD. Alot of banks and hedge funds are in at 20k. Once they start to reflect loses on their balance sheet they'll have no option but to sell this driving the price lower.
What I don't get is this bitcoin is a not linked to fiat and world banks can't control it. Yet the economy starts to tank, interest rates go up and bitcoin is down over 60% YTD.
Why not just invest in apple, amazon, alibaha and the like?
These were all the things Bitcoin was supposed to protect you against, according to its strongest proponents. Buts its failing.
Its probably just too early for crypto, maybe in the next generation. As right now it appears cash is still king!
Cash is trash. You’re losing if you’re not invested in something. Doesn’t matter if it’s stocks, crypto, property, or anything that generates a yield.
Crypto doesn’t generate a yield only capital growth or capital loss, mostly the latter recently! Cash in savings generates an interest yield, it’s just woeful compared to inflation
It’s unlikely that anyone comes to a swinging site to learn about crypto currency, so I’m not going to bother correcting this and arguing with you.
There is no correcting this... because its true. Bitcoin doesn't generate interest. Compound interest doesn't happen. Its just a bet on an increase in market value.
There are other cryptos that generate yield, there are proof of stake chains that you pay you yield to stake your coins such as polkadot, cardano, and eventually Ethereum. There is also defi which is more complicated but generates yield."
Good to know. Not convinced though. |
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"
Good to know. Not convinced though. "
In my profession circle, almost everyone is into it, so I find the comments here interesting to get a wider cross section on the level of adoption. What’s hilarious is the haters who think it’s dying and also the people who know a little bit about it, but not a lot really. |
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"U still haven't told us who excepts it as payment ...."
Flippant answer - Mostly darknet illicit substances, weapons, and credit card numbers.
Actual answer - Not that important really as you can sell for traditional currency and spend as per normal. It's easy enough to turn bitcoin into real money when needed. |
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"
Good to know. Not convinced though.
In my profession circle, almost everyone is into it, so I find the comments here interesting to get a wider cross section on the level of adoption. What’s hilarious is the haters who think it’s dying and also the people who know a little bit about it, but not a lot really."
My view is that every day is a learning day. I learned something new today. Its information, I got to distil it all and spend my 50 cent wisely. |
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"
Good to know. Not convinced though.
In my profession circle, almost everyone is into it, so I find the comments here interesting to get a wider cross section on the level of adoption. What’s hilarious is the haters who think it’s dying and also the people who know a little bit about it, but not a lot really."
Just because lots of people are into it, doesn't mean its a good investment. It doesn't say anything useful at all really as to whether it's going to the floor or the moon. Recent trends look bad though. There is of course a very reasonable chance the ass will fall out of this and a lot of people lose a lot of money. |
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"Hang in there. It's been just as volatile on the upside as the downside. Why hasn't it gone to zero. Its gonna be around a long long time. "
Just because it's not gone to zero already doesn't mean its not gonna go down significantly and lose a lot of people a lot more money. |
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"
Good to know. Not convinced though.
In my profession circle, almost everyone is into it, so I find the comments here interesting to get a wider cross section on the level of adoption. What’s hilarious is the haters who think it’s dying and also the people who know a little bit about it, but not a lot really."
What I find hard to understand is how people are so upbeat about this when they lost 30% of their money in bitcoin over the last month alone. |
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By *ubal1Man
over a year ago
Newry Down |
The annual business 1000 supplement in today's Irish Times did not recommend crypto as a blue chip investment, but a lot of other sectors of Irish business also did very badly over the past few years.
The best investment, net profit as a percentage of turnover was Just Eat, but Deliveroo lagged well behind.
One of the worst performers was Ryanair! No customers and massive fixed finance charges for an unused fleet of Boeing aircraft.
Four most successful Irish businesses were Apple, Google, et al.
|
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"The annual business 1000 supplement in today's Irish Times did not recommend crypto as a blue chip investment, but a lot of other sectors of Irish business also did very badly over the past few years.
The best investment, net profit as a percentage of turnover was Just Eat, but Deliveroo lagged well behind.
One of the worst performers was Ryanair! No customers and massive fixed finance charges for an unused fleet of Boeing aircraft.
Four most successful Irish businesses were Apple, Google, et al.
"
This. A lot of funds had a small percentage in crypto as it was seen as a hedge against inflation.... which it clearly is not. Lots are reducing their holding. |
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"U still haven't told us who excepts it as payment ...."
I never said it was a payment means, I said it was a store of value.
But since you asked, it’s legal tender in El Salvador for a start, so every shop in the whole country. |
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"
Good to know. Not convinced though.
In my profession circle, almost everyone is into it, so I find the comments here interesting to get a wider cross section on the level of adoption. What’s hilarious is the haters who think it’s dying and also the people who know a little bit about it, but not a lot really.
Just because lots of people are into it, doesn't mean its a good investment. It doesn't say anything useful at all really as to whether it's going to the floor or the moon. Recent trends look bad though. There is of course a very reasonable chance the ass will fall out of this and a lot of people lose a lot of money."
You have a lot of opinions on a topic that you really haven’t researched much. Keep digging though and you will get it. |
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By *og-ManMan
over a year ago
somewhere |
To be honest I've never researched it so just a normal gobshites opinion
I bought 100 euros worth..got back 160 euro
The bought another 100 euros worth
Got back 75 I think
Still don't know how or why either of these things happened
I understand most financial products...I had a tracker mortgage for gods sake but I can't help thinking that crypto is a complete massive scam that those in first are scamming those in last
El Salvador as a shining example is not really a shining example in fairness
Tesla don't accept it as payment for a car ....says it all really |
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"
El Salvador as a shining example is not really a shining example in fairness
Tesla don't accept it as payment for a car ....says it all really "
You don’t buy gold so that you can buy a car with it. Same for bitcoin. Someone asked for an example of who accepts it as a payment, so I gave him an example, an entire country. Payment is a use case but not the main one. |
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By *og-ManMan
over a year ago
somewhere |
"
El Salvador as a shining example is not really a shining example in fairness
Tesla don't accept it as payment for a car ....says it all really
You don’t buy gold so that you can buy a car with it. Same for bitcoin. Someone asked for an example of who accepts it as a payment, so I gave him an example, an entire country. Payment is a use case but not the main one."
The reason I mentioned Tesla is because of Musk and his utterances on crypto which all add to the mystery of is it a scam
|
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"
El Salvador as a shining example is not really a shining example in fairness
Tesla don't accept it as payment for a car ....says it all really
You don’t buy gold so that you can buy a car with it. Same for bitcoin. Someone asked for an example of who accepts it as a payment, so I gave him an example, an entire country. Payment is a use case but not the main one.
The reason I mentioned Tesla is because of Musk and his utterances on crypto which all add to the mystery of is it a scam
"
Yea, he’s just trolling everyone on twitter, and manipulating what he can |
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By *ombikerMan
over a year ago
the right side of the river |
Crypto is just another pyramid scheme.
The first people in and to cash out at the right time will make money but everyone else will loose out.
You can not just create wealth out of nothing.
|
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"
Good to know. Not convinced though.
In my profession circle, almost everyone is into it, so I find the comments here interesting to get a wider cross section on the level of adoption. What’s hilarious is the haters who think it’s dying and also the people who know a little bit about it, but not a lot really.
Just because lots of people are into it, doesn't mean its a good investment. It doesn't say anything useful at all really as to whether it's going to the floor or the moon. Recent trends look bad though. There is of course a very reasonable chance the ass will fall out of this and a lot of people lose a lot of money.
You have a lot of opinions on a topic that you really haven’t researched much. Keep digging though and you will get it."
It would be a lot easier to debate you on this topic if you would post facts and opinion on the subject at hand, rather than diverting (from a substantially truthful post) by attacking my knowledge (or lack of) in the area. |
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"
El Salvador as a shining example is not really a shining example in fairness
Tesla don't accept it as payment for a car ....says it all really
You don’t buy gold so that you can buy a car with it. Same for bitcoin. Someone asked for an example of who accepts it as a payment, so I gave him an example, an entire country. Payment is a use case but not the main one.
The reason I mentioned Tesla is because of Musk and his utterances on crypto which all add to the mystery of is it a scam
"
It's not a scam. More like a gamble. |
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|
By *og-ManMan
over a year ago
somewhere |
Just read this in the paper
The chickens are coming home to roost ...cryptocurrencies have no intrinsic value...The only reason to buy them is you think the prices are going to go up...Its the greater fool theory....The bet is that there will always be one fool willing to buy the thing you are trying to sell ....until there are no fools left |
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"Crypto is just another pyramid scheme.
The first people in and to cash out at the right time will make money but everyone else will loose out.
You can not just create wealth out of nothing.
"
It'd not quite as bad as that. The market has gone up and down so its not just the early adopters who could make money. |
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"Just read this in the paper
The chickens are coming home to roost ...cryptocurrencies have no intrinsic value...The only reason to buy them is you think the prices are going to go up...Its the greater fool theory....The bet is that there will always be one fool willing to buy the thing you are trying to sell ....until there are no fools left "
This. Also its important to ignore a lot of the rhetoric because there is money to be gained from bigging up the potential in order to increase demand and increase prices, and therefore the
value of their own holding. This wouldn't be beyond the ability of billionaires and wannabes on Internet sex site forums  |
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"
Good to know. Not convinced though.
In my profession circle, almost everyone is into it, so I find the comments here interesting to get a wider cross section on the level of adoption. What’s hilarious is the haters who think it’s dying and also the people who know a little bit about it, but not a lot really.
Just because lots of people are into it, doesn't mean its a good investment. It doesn't say anything useful at all really as to whether it's going to the floor or the moon. Recent trends look bad though. There is of course a very reasonable chance the ass will fall out of this and a lot of people lose a lot of money.
You have a lot of opinions on a topic that you really haven’t researched much. Keep digging though and you will get it.
It would be a lot easier to debate you on this topic if you would post facts and opinion on the subject at hand, rather than diverting (from a substantially truthful post) by attacking my knowledge (or lack of) in the area. "
I say crypto currencies generate yield, and you say this is not true, because bitcoin doesn’t generate yield. Debating is pointless with this form of logic. |
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That's not pointless at all... That's just us talking about different things. I specifically said bitcoin, not all crypto. That means my point was correct. You are talking about some other cryptocoins. I'm not disputing that and I never did. |
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Polkadot is down from a recent high of €52 to just €7.60 today
Cardano is down to €0.47 from a recent high of €2.94
Both do appear to be paying a yield of some kind, but nowhere near enough to make up for the loss in value.
|
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"Polkadot is down from a recent high of €52 to just €7.60 today
Cardano is down to €0.47 from a recent high of €2.94
Both do appear to be paying a yield of some kind, but nowhere near enough to make up for the loss in value.
"
You’re looking at the % down from the top, but what you need to consider is how highly the % up was before the dip. For example, if you start with €100, and you get a 50x increase, you now have €5000 at the peak. If the dip is 80% like what you see now, you still have €1000, so you are still 10x up on your original investment. |
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Sure.. the early adopters did great. They took a big risk on a new coin/protocol and won big. It was a gamble though. Other coins have collapsed and it was by no means a safe investment with the knowledge that existed at the time.
Back then it was high risk for high reward. A gamble that payed off.
This year its been high risk and a significant loss. A gamble that lost big time. |
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"Sure.. the early adopters did great. They took a big risk on a new coin/protocol and won big. It was a gamble though. Other coins have collapsed and it was by no means a safe investment with the knowledge that existed at the time.
Back then it was high risk for high reward. A gamble that payed off.
This year its been high risk and a significant loss. A gamble that lost big time."
Zoom out. What I described has happened multiple times on a roughly four year cycle.
Anyone that’s in longer than two years is doing well, anyone who is in a year and bought the top, just needs to wait two or three years. |
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"Surely will only go lower now that its below 20k USD. Alot of banks and hedge funds are in at 20k. Once they start to reflect loses on their balance sheet they'll have no option but to sell this driving the price lower.
What I don't get is this bitcoin is a not linked to fiat and world banks can't control it. Yet the economy starts to tank, interest rates go up and bitcoin is down over 60% YTD.
Why not just invest in apple, amazon, alibaha and the like?
These were all the things Bitcoin was supposed to protect you against, according to its strongest proponents. Buts its failing.
Its probably just too early for crypto, maybe in the next generation. As right now it appears cash is still king!
Cash is trash. You’re losing if you’re not invested in something. Doesn’t matter if it’s stocks, crypto, property, or anything that generates a yield.
Crypto doesn’t generate a yield only capital growth or capital loss, mostly the latter recently! Cash in savings generates an interest yield, it’s just woeful compared to inflation
It’s unlikely that anyone comes to a swinging site to learn about crypto currency, so I’m not going to bother correcting this and arguing with you.
There is no correcting this... because its true. Bitcoin doesn't generate interest. Compound interest doesn't happen. Its just a bet on an increase in market value.
There are other cryptos that generate yield, there are proof of stake chains that you pay you yield to stake your coins such as polkadot, cardano, and eventually Ethereum. There is also defi which is more complicated but generates yield."
. Haha. Yeah good luck with those schemes. In simple terms you are allowing someone to use your digital “asset” as collateral for someone else’s loan. |
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"Surely will only go lower now that its below 20k USD. Alot of banks and hedge funds are in at 20k. Once they start to reflect loses on their balance sheet they'll have no option but to sell this driving the price lower.
What I don't get is this bitcoin is a not linked to fiat and world banks can't control it. Yet the economy starts to tank, interest rates go up and bitcoin is down over 60% YTD.
Why not just invest in apple, amazon, alibaha and the like?
These were all the things Bitcoin was supposed to protect you against, according to its strongest proponents. Buts its failing.
Its probably just too early for crypto, maybe in the next generation. As right now it appears cash is still king!
Cash is trash. You’re losing if you’re not invested in something. Doesn’t matter if it’s stocks, crypto, property, or anything that generates a yield.
Crypto doesn’t generate a yield only capital growth or capital loss, mostly the latter recently! Cash in savings generates an interest yield, it’s just woeful compared to inflation
It’s unlikely that anyone comes to a swinging site to learn about crypto currency, so I’m not going to bother correcting this and arguing with you.
There is no correcting this... because its true. Bitcoin doesn't generate interest. Compound interest doesn't happen. Its just a bet on an increase in market value.
There are other cryptos that generate yield, there are proof of stake chains that you pay you yield to stake your coins such as polkadot, cardano, and eventually Ethereum. There is also defi which is more complicated but generates yield.
. Haha. Yeah good luck with those schemes. In simple terms you are allowing someone to use your digital “asset” as collateral for someone else’s loan. "
Actually no, I don’t use those centralized platforms. I have control over the keys. You’re thinking about something completely different than what I was describing. |
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|
By *eff..Man
over a year ago
belfast |
"
El Salvador as a shining example is not really a shining example in fairness
Tesla don't accept it as payment for a car ....says it all really
You don’t buy gold so that you can buy a car with it. Same for bitcoin. Someone asked for an example of who accepts it as a payment, so I gave him an example, an entire country. Payment is a use case but not the main one."
A lot of people using gold and crypto as a store of value, they say that interest rates increase on average at 2% per year (the last few years even higher) I still use cash for everyday things but I do put some savings into my crypto account instead of saving in the bank as a way to try and beat inflation |
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"
El Salvador as a shining example is not really a shining example in fairness
Tesla don't accept it as payment for a car ....says it all really
You don’t buy gold so that you can buy a car with it. Same for bitcoin. Someone asked for an example of who accepts it as a payment, so I gave him an example, an entire country. Payment is a use case but not the main one.
A lot of people using gold and crypto as a store of value, they say that interest rates increase on average at 2% per year (the last few years even higher) I still use cash for everyday things but I do put some savings into my crypto account instead of saving in the bank as a way to try and beat inflation "
Oh no! So you lost most of your savings in the past few months  |
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|
By *eff..Man
over a year ago
belfast |
"
El Salvador as a shining example is not really a shining example in fairness
Tesla don't accept it as payment for a car ....says it all really
You don’t buy gold so that you can buy a car with it. Same for bitcoin. Someone asked for an example of who accepts it as a payment, so I gave him an example, an entire country. Payment is a use case but not the main one.
A lot of people using gold and crypto as a store of value, they say that interest rates increase on average at 2% per year (the last few years even higher) I still use cash for everyday things but I do put some savings into my crypto account instead of saving in the bank as a way to try and beat inflation
Oh no! So you lost most of your savings in the past few months "
Technically yes, but I would have lost atleast 2% if it was sitting in the bank or under the bed in cash aswell |
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|
By *eff..Man
over a year ago
belfast |
"
El Salvador as a shining example is not really a shining example in fairness
Tesla don't accept it as payment for a car ....says it all really
You don’t buy gold so that you can buy a car with it. Same for bitcoin. Someone asked for an example of who accepts it as a payment, so I gave him an example, an entire country. Payment is a use case but not the main one.
A lot of people using gold and crypto as a store of value, they say that interest rates increase on average at 2% per year (the last few years even higher) I still use cash for everyday things but I do put some savings into my crypto account instead of saving in the bank as a way to try and beat inflation
Oh no! So you lost most of your savings in the past few months
Technically yes, but I would have lost atleast 2% if it was sitting in the bank or under the bed in cash aswell"
I think the bank’s interest rate is something like 0.01 % per annum on savings accounts you can receive upto 5% APY on some cryptocurrency’s |
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"
El Salvador as a shining example is not really a shining example in fairness
Tesla don't accept it as payment for a car ....says it all really
You don’t buy gold so that you can buy a car with it. Same for bitcoin. Someone asked for an example of who accepts it as a payment, so I gave him an example, an entire country. Payment is a use case but not the main one.
A lot of people using gold and crypto as a store of value, they say that interest rates increase on average at 2% per year (the last few years even higher) I still use cash for everyday things but I do put some savings into my crypto account instead of saving in the bank as a way to try and beat inflation
Oh no! So you lost most of your savings in the past few months
Technically yes, but I would have lost atleast 2% if it was sitting in the bank or under the bed in cash aswell
I think the bank’s interest rate is something like 0.01 % per annum on savings accounts you can receive upto 5% APY on some cryptocurrency’s "
On the plus side Terra was offering 20% and the minus side you'd be losing 99% of your principal  |
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"
El Salvador as a shining example is not really a shining example in fairness
Tesla don't accept it as payment for a car ....says it all really
You don’t buy gold so that you can buy a car with it. Same for bitcoin. Someone asked for an example of who accepts it as a payment, so I gave him an example, an entire country. Payment is a use case but not the main one.
A lot of people using gold and crypto as a store of value, they say that interest rates increase on average at 2% per year (the last few years even higher) I still use cash for everyday things but I do put some savings into my crypto account instead of saving in the bank as a way to try and beat inflation
Oh no! So you lost most of your savings in the past few months
Technically yes, but I would have lost atleast 2% if it was sitting in the bank or under the bed in cash aswell"
You didn’t lose if you didn’t sell, and you lose way more than 2% to inflation leaving your money in the bank. |
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"
El Salvador as a shining example is not really a shining example in fairness
Tesla don't accept it as payment for a car ....says it all really
You don’t buy gold so that you can buy a car with it. Same for bitcoin. Someone asked for an example of who accepts it as a payment, so I gave him an example, an entire country. Payment is a use case but not the main one.
A lot of people using gold and crypto as a store of value, they say that interest rates increase on average at 2% per year (the last few years even higher) I still use cash for everyday things but I do put some savings into my crypto account instead of saving in the bank as a way to try and beat inflation
Oh no! So you lost most of your savings in the past few months
Technically yes, but I would have lost atleast 2% if it was sitting in the bank or under the bed in cash aswell
You didn’t lose if you didn’t sell, and you lose way more than 2% to inflation leaving your money in the bank."
You need to go to finance school before bankruptcy swallows you. |
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"
El Salvador as a shining example is not really a shining example in fairness
Tesla don't accept it as payment for a car ....says it all really
You don’t buy gold so that you can buy a car with it. Same for bitcoin. Someone asked for an example of who accepts it as a payment, so I gave him an example, an entire country. Payment is a use case but not the main one.
A lot of people using gold and crypto as a store of value, they say that interest rates increase on average at 2% per year (the last few years even higher) I still use cash for everyday things but I do put some savings into my crypto account instead of saving in the bank as a way to try and beat inflation
Oh no! So you lost most of your savings in the past few months
Technically yes, but I would have lost atleast 2% if it was sitting in the bank or under the bed in cash aswell
You didn’t lose if you didn’t sell, and you lose way more than 2% to inflation leaving your money in the bank.
You need to go to finance school before bankruptcy swallows you. "
I’ll think about attending after I retire soon. |
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But the purchasing power of bitcoin isn't immune to inflation. If there is 5% inflation and bitcoin drops in value another 50%... then the purchasing power of that bitcoin has reduced 55%. Same as any other currency in a time of inflation. Its no more immune to the effect of inflation than anything else. |
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"But the purchasing power of bitcoin isn't immune to inflation. If there is 5% inflation and bitcoin drops in value another 50%... then the purchasing power of that bitcoin has reduced 55%. Same as any other currency in a time of inflation. Its no more immune to the effect of inflation than anything else. "
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El Salvador as a shining example is not really a shining example in fairness
Tesla don't accept it as payment for a car ....says it all really
You don’t buy gold so that you can buy a car with it. Same for bitcoin. Someone asked for an example of who accepts it as a payment, so I gave him an example, an entire country. Payment is a use case but not the main one.
A lot of people using gold and crypto as a store of value, they say that interest rates increase on average at 2% per year (the last few years even higher) I still use cash for everyday things but I do put some savings into my crypto account instead of saving in the bank as a way to try and beat inflation
Oh no! So you lost most of your savings in the past few months
Technically yes, but I would have lost atleast 2% if it was sitting in the bank or under the bed in cash aswell
You didn’t lose if you didn’t sell, and you lose way more than 2% to inflation leaving your money in the bank.
You need to go to finance school before bankruptcy swallows you.
I’ll think about attending after I retire soon."
Well keep piling into currupto and that retirement will be a penniless one |
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"But the purchasing power of bitcoin isn't immune to inflation. If there is 5% inflation and bitcoin drops in value another 50%... then the purchasing power of that bitcoin has reduced 55%. Same as any other currency in a time of inflation. Its no more immune to the effect of inflation than anything else.
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What you are talking a out here isn't inflation but currency exchange.
Hope we are all about to enjoy bitcoin pump. |
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