Posted on 01/14/2019 3:46:50 PM PST by Responsibility2nd
“Forget the day to day price and focus on the moves being made.”
losing 75% of its value in nearly a straight downward trend down over just a little more than a year is hardly “day to day” price moves ... it’s basically a total slaughter ... AND there appears to be no end in sight for that straight downward trend ...
I disagree with your assertion that Bankers will never allow cryptocurrencies. I work in cyber security and my customers are almost exclusively banks and other financial institutions. Many have or are making crypto currency plans from accepting, to trading to even creating their own.
Gold is pumping up a little. It’s been a long time, but I am green onmost of my gold. Silver has a way to go.
Good one!
Day trading this stuff is dangerous. The volumes just don’t support it. And it does “crazy Ivan” $400 moves in minutes. You really have to stay on top of it to trade.
I’ve got some Iraqi Dinars that are going to make me a bundle when they revalue them.
Why do you doubt it?
Yes I believe it will rebound in less than 3 or 4 years.
We are on the cusp of a financial revolution over the next 20 years that will change our world. I believe it will be 10 times bigger than the Internet.
Remember where the Internet was in 1992? That is where I think we are at with Crypto / Digital Assets blockchain technology.
In retrospect, I would have been three times better off if I had taken the 5k and purchased 75 Btc at the time for about $65 each.
Mined over 300 ETH on the same hardware though, after stopping BTC mining. Still mining ETH (during winter months - free heat). Have 10% left. Sold plenty at well over $1k.
Then there is LTC - mined over 300 of those too...
Who knows what's going to happen. It could eventually be worth less, or worth a thousands times more.
Except for the tax headaches, it has been a fun hobby and paid for itself. :)
I've also traded 'em, but I'm not very good at it. I hold 'em too long and don't sell when the price drops by a certain %. Mostly just broke even in trading.
Long term buy and hold would have been the best plan, in my case.
A simple video on Technical Analysis 101 could have saved you $159.10.
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Al Gore warned us about that years ago. Global Warming would cause the glaciers to recede and Bitcoin to fall.
But seriously...nothing wrong with taking a small flyer. Sort of like buying a couple of lottery tickets. The people who need a scolding are those who sunk thousands into such things.
Totally agree! See #28.
If what you say is true, then fine. I’m holding on the pennies I have invested in bitcoin. Will even buy more if prices trend upward.
Me too! Any day now, brother!
When prices drop that is when you want to buy or hold.
When prices move up this is when you want to sell and hold.
Buy low sell high in other words.
I took the opportunity of the Bear market in 2018, and bought many more Digital Assets than was my original goal.
Prep supplies, definitely. Gold and silver? Useful for jewelry, not much else. And for them to be accepted as currency, people have to have confidence that they're genuine. How many people today could tell gold from brass?
I work in advanced IT in the financial industry. Yes, various banks are currently looking to implement blockchain technology for their benefit - but none are attempting to turn it into a replacement for currency that is based on treasury securities - like BitCoin has attempted.
International banks and central banks would never allow it.
Exactly. They're commodities - nothing else.
England used to use "tally sticks" (wood) for their currency before the Bank of England was sprung upon them.
The colonies used "colonial script" (paper) until England came after them for it.
It was extremely difficult to explain to people in 2008 why gold and silver would not rise like a meteor, why oil would eventually drop to $30/barrel, and why the US Dollar index would greatly strengthen against a basket of foreign currencies.
No regrets, though. I actually think there may still be $$ to be made with cryptos, just not the "moon shot" $$ of 2017.
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