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HOT TOPIC Bitcoin / Cryptocurrency Discussion (And Predictions)

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srodrigo

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This video from 3 weeks ago really nailed it... Wyckoff distribution, standard market manipulation... Elon Fud and china Fud in the same week... seems like big money is here and this is how they play, only antidote I know is adjust or just hodl . Fundamentals don't change.

View: https://www.youtube.com/watch?v=Lhf_2gJJS1I&t=1s
I haven't read the news much. Why do you think the China thing is a fud? Given how controlling they are, I wouldn't be surprised if they wanted to ban crypto there.
 

biggeemac

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I am awaiting a retest of the low and going in with another 50k on Eth. Ride it back up to +$4k, then back into stable coins for another cool off.....and then the MAIN event. We'll wrap this thing up probably Nov-Dec ish. Lets see if my 10+ years of watching these crypto cycles pays off.
 

Sethamus

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I haven't read the news much. Why do you think the China thing is a fud? Given how controlling they are, I wouldn't be surprised if they wanted to ban crypto there.
The China ban news has been coming out for multiple years. It is considered fud because it has been an ongoing event of China trying to control and regulate crypto holders and miners for years.
 

biggeemac

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I haven't read the news much. Why do you think the China thing is a fud? Given how controlling they are, I wouldn't be surprised if they wanted to ban crypto there.
Pretty much.....been here too many times in the past. BTC, ETH and others always withstand the punches and come back with a vengeance.
 

Bones81

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Thankful for stop losses. Dipped my toe back into ETH with a small position today, but would not be surprised at all if it dumped again.
 

GerTex

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Freaked out this morning when I saw the huge dip like everyone else. Reminded myself that its a long term game.

This afternoon I realized that in all this blood I didn't even loose a month of gains. Last time it was this low was 4/22.

Crap - here comes another dip... India just woke up!
 

Ocean Man

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Honestly, since I’m playing the long game, I want it to go as low as it can, it’s accumulation time!
 

Kak

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He read my mind with this one... Why do crypto people insist on making this comparison when it is nonsense?

And... Before you all get bent out of shape and hate me forever, just because the comparison is nonsense, this truth doesn’t make Bitcoin nonsense.

Likewise, just because basically everything James Fake said was nonsense, doesn’t make bitcoin nonsense either.

I personally think the environmental reasoning behind the sell off is nonsense as well, I’ll hit on that in my next show.
 
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thechosen1

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I wouldn’t be surprised if China IS Satoshi.

Who controls the companies that make and sell all of the crypto gear required for mining? Who controls the exchanges? It just seems like most of it leads to China.

Then maybe they outlaw it for their citizens because the goal is to get a bunch of Americans to trade their USD for crypto instead. China gets a lot of dollars, Americans get more and more on crypto, and they can threaten (and maybe even eliminate) the USA’s world reserve currency status.

BRB, my tin foil hat needs some polishing lol

I say all this, but I’m kind of bullshitting (I don’t 100% believe what I’m saying). I’m just wondering if anyone else has speculated similar stuff.
 
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Antifragile

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I wouldn’t be surprised if China IS Satoshi.

Who controls the companies that make and sell all of the crypto gear required for mining? Who controls the exchanges? It just seems like most of it leads to China.

Then maybe they outlaw it for their citizens because the goal is to get a bunch of Americans to trade their USD for crypto instead. China gets a lot of dollars, Americans get more and more on crypto, and they can threaten (and maybe even eliminate) the USA’s world reserve currency status from Bretton Woods.

BRB, my tin foil hat needs some polishing lol

I say all this, but I’m kind of bullshitting (I don’t 100% believe what I’m saying). I’m just wondering if anyone else has speculated similar stuff.
Well...

no.

For one, Breton Wood has been dead a long time... no current currency is pegged to gold or US dollar. That’s why it’s called fiat.

And 2. Bitcoin was created after the 2008 World Financial Crisis - in response to the shenanigans done by American banks. It’s likely that Bitcoin was created by an American
 

Matt Sun

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I wouldn’t be surprised if China IS Satoshi.

Who controls the companies that make and sell all of the crypto gear required for mining? Who controls the exchanges? It just seems like most of it leads to China.

Then maybe they outlaw it for their citizens because the goal is to get a bunch of Americans to trade their USD for crypto instead. China gets a lot of dollars, Americans get more and more on crypto, and they can threaten (and maybe even eliminate) the USA’s world reserve currency status.

BRB, my tin foil hat needs some polishing lol

I say all this, but I’m kind of bullshitting (I don’t 100% believe what I’m saying). I’m just wondering if anyone else has speculated similar stuff.

I'll admit i'm sort of paranoid anti comunist, but:

IN the span of seven days:

1. China govt moves against crypto.
2. china Joe, ups, I mean Biden admin goes against Binance for "money laundering".
3. "Richest man of the world" remembers btc uses a lot of power (though he discussed it like 3 years ago and said it was fine). He even implies he has sold...

Suddenly there is a super bear narrative.

Price follows it.


PS:
I like how aceventures sees it, there is this decentralized economy being created. It's changes the game forever, is programmable money. You can invest, get loans, transact p2p freely with people continents away.
On the other hand there is the stock market and the banks that close at 5pm, maybe you don't have service in the weekend. In Argentina they might go on a strike, or if you move like $2k in this "ecosystem", it must be declared, justified, taxed. Also massive inflation. This is the reality of billions of people.

The price might go to the moon or deep in a whole at times, yet as a service crypto is amazing value. That doesn't change at all, you can bet on paper or on a shinny rock for short terms, new tech will prevail and win.
 

Timmy C

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To me, nothing has changed.
Did I expect to drop this far? 100% didn't.
If something you like goes down 50% you buy it.
But it doesn't matter anyway.

We are still in a bull run that's my opinion.
I could be wrong, but it doesn't matter as I would still be accumulating bitcoin anyway.
 

GPM

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Miners are laughing right now. If this goes back up and it is not the start of Crypto Winter (they are literally calling for snow where I live tonight...), then every day that this lasts is just padding miners accounts big time. So yea, anyone who is in this for the long haul is going to make off pretty nicely from this crash.

Unless of course this is it. Then we have a whole lot of digital nothings haha. Take a gander at which camp I think we are in...
 

Frinys

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Is it time for the king to climb again?

BTC Dominance is at 42%, and it was recently below 40%. It was at 60% just a few months ago. The cycle seems to be repeating.

Over time, it's only safe to assume that BTC's Dominance is going to fall. But we may have reached a local low right now. Nothing fundamental has changed in the last months that explains the sharp drop in dominance, just a good old alt-run. This correction has shaken heavy altcoin holders, and I predict that BTC Dominance will climb to at least 50-55% before the end of June.
 

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So to throw out some actually numbers on this thread...

After the dust settled from yesterday I am down $97,540 USD from when I last added everything up on May 10th.

No worried though - I took out gains over the last while and I bought in at a great price way back too.
It was clearly running super hot also - not overly surprised it crashed.

Some lessons:

- Easy crypto gains are not real and what comes easily can easily go away.
Take out your principle the best you can on the way up and don't go all in.

- No one can predict this accurately - "a broken clock chart is still right twice a day".
I follow a few "experts" and while they are decent at knowing what will go up on a good day they got no idea when things like this will happen. Just too many factors at play - you can can't call what you don't fully know.

-Your main business should always be your absolute #1 focus.
At the end of the day you need a stable way to produce income and a real asset is one that produces cashflow. I am not pro or anti crypto but thats just the reality that I see. I think its fine to do some speculative investing if you got your main bases well covered. Crypto never took up more than a few minutes of my time per day and I was never relying on it for anything. When I put the first dollar in I already accepted it could all go to zero.

Anyway that is it. I am far from an expert but these are my thoughts on the approach I have been using.
I didn't sell anything yesterday and don't plan to for a while either.

Hope everyone came out of yesterday all good and didn't end up in a tricky spot. If you are new to the game of business Crypto should only be taking up a small part of your time and the best investment at the start is always yourself.
 

gryfny

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I wanted to buy at 30k yesterday but my fiat transfer didn't go through. Tough luck I guess.
 

GPM

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I'm not missing out on these miner rewards! Some fans crapped the bed on me and the replacement ones I ordered were not what they were supposed to be so they did not fit. Replaced my dual 80mm fans with dual 120mm 4100rpm fans! This should do the trick.
20210520_022618.jpg
 

Fox

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I'm not missing out on these miner rewards! Some fans crapped the bed on me and the replacement ones I ordered were not what they were supposed to be so they did not fit. Replaced my dual 80mm fans with dual 120mm 4100rpm fans! This should do the trick.
View attachment 38062

Rookie question but how much power is one of these using per month?

Do you have nay before/after electricity bill stats??
 

Timmy C

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So to throw out some actually numbers on this thread...

After the dust settled from yesterday I am down $97,540 USD from when I last added everything up on May 10th.

No worried though - I took out gains over the last while and I bought in at a great price way back too.
It was clearly running super hot also - not overly surprised it crashed.

Some lessons:

- Easy crypto gains are not real and what comes easily can easily go away.
Take out your principle the best you can on the way up and don't go all in.

- No one can predict this accurately - "a broken clock chart is right twice a day".
I follow a few "experts" and while they are decent at knowing what will go up on a good day they got no idea when things like this will happen. Just too many factors at play - you can can't call what you don't fully know.

-Your main business should always be your absolute #1 focus.
At the end of the day you need a stable way to produce income and a real asset is one that produces cashflow. I am not pro or anti crypto but thats just the reality that I see. I think its fine to do some speculative investing if you got your main bases well covered. Crypto never took up more than a few minutes of my time per day and I was never relying on it for anything. When I put the first dollar in I already accepted it could all go to zero.

Anyway that is it. I am far from an expert but these are my thoughts on the approach I have been using.
I didn't sell anything yesterday and don't plan to for a while either.

Hope everyone came out of yesterday all good and didn't end up in a tricky spot. If you are new to the game of business Crypto should only be taking up a small part of your time and the best investment at the start is always yourself.

Your right man.
I've been spending to much time checking crypto.

Need to cut back a bit.
 

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