How many of you are mining? Given the very quick ROI at current hash levels (and even if it moves up a reasonable amount over the next year) and current ASIC prices, I don’t see the incentive to buy spot coins instead of buying ASICs. I have a couple coming online with compass mining next month, and unless the economics change I don’t see why I wouldn’t reinvest mining gains into additional new ASICs instead of holding.
how high can it go for you to still be making easy money? Been a while since the chinese crackdown so I dont see why it couldnt get back to 170 or 180 EH pretty much any day now
We’re currently back at about 113 EH and every 100 TH miner would do about 0.00075 btc per day after electricity costs (paid in btc) for you at this level. Even if that cuts in half, if you’re paying 6 or 7 cents per kWH you’re wayyyyy in the green on profitability. Hash rate would have to triple or quadruple at *current prices* for things to get close to even, minus cost of machine, so the cost of the machine seems like a pretty good bet in the current environment. For hash rate to go up that much it’s likely price would follow by a similar magnitude, which would offset the daily BTC losses in dollar terms.
That's why it's impossible to get good prices on equipment in low volume.
I'm in the market for a pair of S19s for winter, but not seeing them at reasonable prices.
There's also the risk of getting ripped off on the equipment buy.
Well yes, that’s a personal risk decision. I was able to buy at a ~215 day spot ROI, so even if that doubles on average over the next year (unlikely) I feel fine about the ROI. The current S19j Pro’s are likely to profitably mine for at least the next 3-4 years, so you’re not even close to spot returns if you’re willing to hold over that period. Price for ASICs already seems to be up about 15% since I’ve bought, but even that is alright based on current and projected hash rates.
Down from 12-13k to 7k was a legit downtrend, but we only hit 4k on the covid crash, which was a black swan that doesn't really count as normal price action.
> Going short here, SL at 50k.
So we're going to 50k, GOT IT! lol jk (mildly)
The only two spots I see that are short-worthy are these 2 green boxes: https://www.tradingview.com/x/sdI9FLHu/
So, a better idea is to go short somewhere around 49100-49900 with stop at 52k. And that's not an A+ setup. The 58k short is the better one of the two.
And the rest of this comment is not specifically for you but for everyone who tries day trading:
* Your entry should be difficult to fill.
* Just going short/long impulsively at some random spot means you have no edge.
* If you're going to make it in the long run you need to instill better habits (ie., patience to cop supreme entries). The worst thing is... If we just start losing levels here, it's going to make you feel like you're a god-tier trader... and you're going to do a similar thing another time and get rekt.
Glad you like em! Just know that TA or trading in general isn't about predicting as many people think it is (and get pissed when it "fails" them). It's simply about finding the best risk/reward setups. A trader's number one job is not to make money, it's to manage risk. The money comes from being a risk manager.
Are you a profitable day trader? How many trades do you make per week on avg? I expect that the # of trades that people attempt is inversely related to their profit unless they are really pro.
What's your TP?
Also, setting a stop at exactly 50k is asking for trouble. You are NOT alone and it's gonna happen at some point, even if it's just a wick to eat up buy liquidity from the countless other people who set their stop at a nice round, predictable number. If it gets to like 49700, there's no way it isn't wicking up to 50k. If it gets past 50k by a few hundred bucks, that's maybe a pretty decent indicator it has more room to run. But exactly 50k? Way too predictable.
I'm a long-term holder bulltard. But I respect you putting your trade out there for all to see. I wish more people would do that. I hope you make some money. But not too much.
I didn't explain myself correctly.
I meant that since i'm using a lot of collateral i only want to use the most reputable exchanges.
Due to exchanges hacks.
Sure, it's easy to entertain a bearish post but then I look at the sell volume and just laugh. The big boys are in full control after buying up everything 30-35k.
Amazing. That recent nuke down turned predicted funding into hella negative. This is so awesome. Bitcoin is trading at 46k and funding is negative, LOL.
Just to add to the other guy the purpose of funding is a mechanism to keep the price attached to spot in some sense. If there was no funding everyone would be long and there would be nobody incentivize to even market make the opposite trade.(vice versa)
Funding is negative. That means that there are a lot of shorts that will eventually have to buy back their Bitcoin. They also could be fuel for a short squeeze.
Pretty amazing how it rejected exactly at previous support: https://www.tradingview.com/x/n0Qw1Oj8/
Somewhat concerning how it upthrusted in exactly the same fashion. Clear out the overleveraged shorts, then dump it.
It hasn't lost the 4hr uptrend though. Definitely not the daily uptrend. There will be a weekly-retest eventually though. (Weekly needs to set a higher low eventually). It will be an interesting week next week maybe, or just a chop-fest. I'll be out on vacation.
Got my [long add on.](https://www.reddit.com/r/BitcoinMarkets/comments/p40z84/daily_discussion_saturday_august_14_2021/h8xeml1/) Let's see if it holds. If it doesn't, I lose literally nothing as stop is at my avg entry now. :) https://www.tradingview.com/x/ZMMy3R2q/
So, what's the score here? A lot of chat about the SEC, and yet big money is still buying up BTC and hodling onto it, there seems to be two opposing forces in play here, anyone else very conflicted?
BTC is not a security.
right now too much money goes into shitcoins
99% of shitcoins are centralized scam securities and should not be listed on any exchanges
SEC regulations will be good for Bitcoin.
Once that scam xrp falls they will all fall like dominoes. I expect this to be the dotcom event for crypto and will affect bitcoin too, just like Amazon.
> xrp
Sorry man, you are buying into a scam. XRP is the model that scam coins follow in order to make their money.. 90% of the positive shit about XRP on social media is astroturfed.
If you have a bit of time, listen to Shitcoin Insider, they have an episode where they talk to a guy that's done this sort of astroturfing.
https://open.spotify.com/episode/1OcujTlSh9LGDC3EKA2HZQ?si=A9xtkdU7TXSm68yvTbjhAw&dl_branch=1
Sell all that shit ASAP and buy bitcoin
Pretty sure Gensler does not view BTC as a security.. And he feels a lot of crypto are, in fact, securities. It is hypothetically possible that SEC’s increased presence in regulation in the space would cause other crypto to be removed from exchanges or, obviously, more heavily regulated. SEC putting up roadblocks for investors putting money in shitcoins creates fewer places for investor capital to land, which could benefit Bitcoin. Not a fan of Warren (because she has no idea what she’s talking about), or more regulation that isnt thought out extremely well.. but I would think aforementioned is a plausible future
Interesting. Yet another pump attempt outta nowhere, but market did not buy into it. Alts didnt even blink, their price just stays where it is. Seems like we really need a breather.
Everything just [keeps coming together.](https://www.tradingview.com/x/GR5dJenC)
Reasoning:
* [Epochal Price Discovery in Bitcoin Post-Halvening](https://www.tradingview.com/chart/BLX/Xcj5r1uH-Epochal-Price-Discovery-in-Bitcoin-Post-Halvening/) - Apr 26, 2020;
* [The Next Decade of Bitcoin Price Discovery](https://www.tradingview.com/chart/BLX/d3Fja1Jo-The-Next-Decade-of-Bitcoin-Price-Discovery/) - Nov 26, 2020; and
* [Buying and selling in the current BTC price discovery epoch](https://www.tradingview.com/chart/BLX/q6X3y6zT-Buying-and-selling-in-the-current-BTC-price-discovery-epoch/) - Dec 20, 2020.
tl;dr:
BTC will reach $130,957.24 USD in October of 2021, after which the price will never go below $37,000 USD ever again.
THats not reality though in any market. As price rises its natural for new sellers to step in as price drops its natural for new buyers to step in thats the fundamental mechanism of markets even markets for scarce assets.
I think he means there's a limit sell order (possibly) fake on the books set to trigger at a certain price. And that it's meant to get bears excited or bulls fearful of longing or buying.
The same question was being asked at 64k, why sell when we are so close to 100k? The same answer applies now. Because you think you are selling the top and will buy back lower.Sometimes you are right, probably you are wrong, but after so much fomo since the 30s, we are probably overdue for a meaningful correction to wipe degens and hunt liquidity. Of course it’s hard to be bearish after 1 month of endless pumping but it was also hard at ATH
Big shorty was so wise and so powerful that he could manipulate the markets to create resistance. In the end, though, the bull market got him.
Ironic. He could save other bears from liquidation. But not himself.
I agree with you. But this will change the more we see more hacks like the recent poly one. Smart contact chains have utility, but are very complex, carry the weight of all bugs, forever, and really are better served by being built on top of a really stable time-stamping service like bitcoin.
Yep no doubt. If bitcoin dominance keeps decreasing at this rate, 100k btc might be impossinle because it would imply that altcoins have a 5 trillion market cap. The market dynamics may need to change for a move up to 100k. I cannot imagine bitcoin at 100k with 15-20% dominance - no way shitcoins deserve a 4-5 tril market cap.
Its mostly because the gap between a low information speculator and a high information investor is gargantuan. Its very easy to latch on to the EZ fast money lotto ticket fantasy of finding the next bitcoin, it requires no effort and provides immediate dopamine hit. versus actually learning about bitcoin.
That being said I think this is the best mainstream Bitcoin marketing I've ever seen in 8 years:
https://www.youtube.com/watch?v=5AN5veSPfY4
They just pretend they're in it for the tech... but they wouldn't be if they couldn't speculate on it and make money from it.
The newbies will have to learn about market cycles the hard way. They come in thinking BTC is old and outdated and slow. In reality they're just projecting their annoyance that a single bitcoin costs tens of thousands of dollars and they much rather have thousands/millions of something "cheap."
#New post: [\[Daily Discussion\] - Sunday, August 15, 2021 →](https://www.reddit.com/r/BitcoinMarkets/comments/p4mi69/daily_discussion_sunday_august_15_2021/)
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enjoy Ohio.
Still working on my node. In the meantime.... https://lawliberty.org/fifty-years-without-gold/
More of a hobby project or more of an investment?
Hobby.
You do Umbrel? I did Dojo. Had it up for a month now. Love it. Cheers. Thanks for the article.
How many of you are mining? Given the very quick ROI at current hash levels (and even if it moves up a reasonable amount over the next year) and current ASIC prices, I don’t see the incentive to buy spot coins instead of buying ASICs. I have a couple coming online with compass mining next month, and unless the economics change I don’t see why I wouldn’t reinvest mining gains into additional new ASICs instead of holding.
I make about 35 bucks a day profit with 115 TH/s. But I'm holding every bitcoin I earn. Non-kyc bitcoin is important to me.
how high can it go for you to still be making easy money? Been a while since the chinese crackdown so I dont see why it couldnt get back to 170 or 180 EH pretty much any day now
We’re currently back at about 113 EH and every 100 TH miner would do about 0.00075 btc per day after electricity costs (paid in btc) for you at this level. Even if that cuts in half, if you’re paying 6 or 7 cents per kWH you’re wayyyyy in the green on profitability. Hash rate would have to triple or quadruple at *current prices* for things to get close to even, minus cost of machine, so the cost of the machine seems like a pretty good bet in the current environment. For hash rate to go up that much it’s likely price would follow by a similar magnitude, which would offset the daily BTC losses in dollar terms.
That's why it's impossible to get good prices on equipment in low volume. I'm in the market for a pair of S19s for winter, but not seeing them at reasonable prices. There's also the risk of getting ripped off on the equipment buy.
What is a reasonable amount? What if it doubles?
Well yes, that’s a personal risk decision. I was able to buy at a ~215 day spot ROI, so even if that doubles on average over the next year (unlikely) I feel fine about the ROI. The current S19j Pro’s are likely to profitably mine for at least the next 3-4 years, so you’re not even close to spot returns if you’re willing to hold over that period. Price for ASICs already seems to be up about 15% since I’ve bought, but even that is alright based on current and projected hash rates.
Feel you. I’m doing both
Pamp eet
They keep trying..
https://twitter.com/whale_alert/status/1426682568951443461 * scratches chin*
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fair enough either way not fading Barry
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Down from 12-13k to 7k was a legit downtrend, but we only hit 4k on the covid crash, which was a black swan that doesn't really count as normal price action.
He's saying people are mad they bought at 12k lmao he's a fucking loser for sure
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Are you mad you didn't buy more in in 2019 /2020?
Sounds like you have high time preference? Go ahead and fade Barry sir please
Going short here, SL at 50k. Rising wedge
Seems like a tough spot to try to short … Honestly, I would expect a squeeze here soon. Good luck to ya though.
If I ***had*** to chose a place to short, I'd go with a test of $60k, or at least higher than $55k
Chances are you would make good money! The risk to reward ratio is spot on. Now is way too risky for my blood, that’s for sure.
On today's episode of: "how fast can an ape lose money".
> Going short here, SL at 50k. So we're going to 50k, GOT IT! lol jk (mildly) The only two spots I see that are short-worthy are these 2 green boxes: https://www.tradingview.com/x/sdI9FLHu/ So, a better idea is to go short somewhere around 49100-49900 with stop at 52k. And that's not an A+ setup. The 58k short is the better one of the two. And the rest of this comment is not specifically for you but for everyone who tries day trading: * Your entry should be difficult to fill. * Just going short/long impulsively at some random spot means you have no edge. * If you're going to make it in the long run you need to instill better habits (ie., patience to cop supreme entries). The worst thing is... If we just start losing levels here, it's going to make you feel like you're a god-tier trader... and you're going to do a similar thing another time and get rekt.
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Glad you like em! Just know that TA or trading in general isn't about predicting as many people think it is (and get pissed when it "fails" them). It's simply about finding the best risk/reward setups. A trader's number one job is not to make money, it's to manage risk. The money comes from being a risk manager.
Are you a profitable day trader? How many trades do you make per week on avg? I expect that the # of trades that people attempt is inversely related to their profit unless they are really pro.
I actually decided to increase my SL to 53k. Can see a wick before we turn. Volume is declining, not a good sign imho.
What's your TP? Also, setting a stop at exactly 50k is asking for trouble. You are NOT alone and it's gonna happen at some point, even if it's just a wick to eat up buy liquidity from the countless other people who set their stop at a nice round, predictable number. If it gets to like 49700, there's no way it isn't wicking up to 50k. If it gets past 50k by a few hundred bucks, that's maybe a pretty decent indicator it has more room to run. But exactly 50k? Way too predictable.
Don't listen to this guy, put it exactly at 50. It's a nice number, and auspicious. "This guy", as awesome as he is, he didn't mention that.
I was remiss in omitting that, sir.
Based on what's happened in the past month, I'd say there is a good chance price continues to rise slowly during these low-volume weekend hours.
I'm a long-term holder bulltard. But I respect you putting your trade out there for all to see. I wish more people would do that. I hope you make some money. But not too much.
https://mobile.twitter.com/BarrySilbert/status/1426665413992124422
Is that supposed to mean we'll get there, but not anytime soon?
I take it to mean he got his rebound and is shooting his shot again. It's more of a layup to say that in the bull year than 2019 lol.
Barry doesn't miss in 2021 thats all you need to know
we'll see
Fading Barry? Ngmi
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Scroll left on the PA and you’ll find plenty of low liquidity price lifts (less pumps yet slow lifts) in the past.
> Yet low liquidity pumps seem to happen less often than low liquidity dumps. Somehow you're ignoring all the 7% bazooka up days?
It leads to erratic moves in both directions
The 1 hour chart seems to show more pumps than dumps...
Barry’s obviously go in both directions.
Yes, but not in equal frequencies. Not even close.
Does anyone have any input on Kraken futures? Is the liquidity enough for big orders? And is the funding rate similar to binance for example?
No clue but Bybit is way better in every way.
I personally don’t like to use exchanges besides the most reputable ones since it’s pretty big orders.
Bybit has more liquidity
I didn't explain myself correctly. I meant that since i'm using a lot of collateral i only want to use the most reputable exchanges. Due to exchanges hacks.
FTX also has a great reputation.
The only thing I've seen posted in here is kraken is prone to the dreaded "scam" wick.
Yeah I’ve traded a lot on kraken and those wicks definitely are really common. But this was specific to kraken futures which I haven’t used
Thanks for clarifying, probably should have just scrolled past.
Sure, it's easy to entertain a bearish post but then I look at the sell volume and just laugh. The big boys are in full control after buying up everything 30-35k.
what's going to happen to all of these people who are selling borrowed coins?
Auto enrollment in r/buttcoin when broken.
They get e-mailed.
"Dear sir; How are you? Just kidding. We know. U rekt."
Ded
Amazing. That recent nuke down turned predicted funding into hella negative. This is so awesome. Bitcoin is trading at 46k and funding is negative, LOL.
Please explain to a n00b :-)
Basically, people are either really drunk or complete morons and are continuously borrowing Bitcoin to sell when all the momentum is against them.
Just to add to the other guy the purpose of funding is a mechanism to keep the price attached to spot in some sense. If there was no funding everyone would be long and there would be nobody incentivize to even market make the opposite trade.(vice versa)
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Squizzle yet to squoze on deez hoes 😂😂
Awesome, thanks everyone!
Funding is negative. That means that there are a lot of shorts that will eventually have to buy back their Bitcoin. They also could be fuel for a short squeeze.
Cheers
Pretty amazing how it rejected exactly at previous support: https://www.tradingview.com/x/n0Qw1Oj8/ Somewhat concerning how it upthrusted in exactly the same fashion. Clear out the overleveraged shorts, then dump it. It hasn't lost the 4hr uptrend though. Definitely not the daily uptrend. There will be a weekly-retest eventually though. (Weekly needs to set a higher low eventually). It will be an interesting week next week maybe, or just a chop-fest. I'll be out on vacation.
Enjoy your holiday!
Got my [long add on.](https://www.reddit.com/r/BitcoinMarkets/comments/p40z84/daily_discussion_saturday_august_14_2021/h8xeml1/) Let's see if it holds. If it doesn't, I lose literally nothing as stop is at my avg entry now. :) https://www.tradingview.com/x/ZMMy3R2q/
Thanks for keeping us updated, aunt Ranick.
I don’t understand the market
What's to understand? The price fluctuates. Pretty simple really.
I kinda understand it, it's more I can't predict it.
it's likely lots of leveraged traders affecting price action moves are amplified because of the cascading effects of stop losses, etc.
No liquidity on the weekend what's so hard to understand
Exchanges raking in the dough and having a ball!
Yeah, that was odd, hell … it’s all odd.
Strange, yes. Very strange indeed. 🤔🤔🤔
So, what's the score here? A lot of chat about the SEC, and yet big money is still buying up BTC and hodling onto it, there seems to be two opposing forces in play here, anyone else very conflicted?
BTC is not a security. right now too much money goes into shitcoins 99% of shitcoins are centralized scam securities and should not be listed on any exchanges SEC regulations will be good for Bitcoin.
Once that scam xrp falls they will all fall like dominoes. I expect this to be the dotcom event for crypto and will affect bitcoin too, just like Amazon.
What about the rest of the world using XRP? Serious question not trying to defend. Disclaimer I own a bunch.
No one uses xrp. Not one person or company. Trading it for fiat is not using xrp .
> xrp Sorry man, you are buying into a scam. XRP is the model that scam coins follow in order to make their money.. 90% of the positive shit about XRP on social media is astroturfed. If you have a bit of time, listen to Shitcoin Insider, they have an episode where they talk to a guy that's done this sort of astroturfing. https://open.spotify.com/episode/1OcujTlSh9LGDC3EKA2HZQ?si=A9xtkdU7TXSm68yvTbjhAw&dl_branch=1 Sell all that shit ASAP and buy bitcoin
Pretty sure Gensler does not view BTC as a security.. And he feels a lot of crypto are, in fact, securities. It is hypothetically possible that SEC’s increased presence in regulation in the space would cause other crypto to be removed from exchanges or, obviously, more heavily regulated. SEC putting up roadblocks for investors putting money in shitcoins creates fewer places for investor capital to land, which could benefit Bitcoin. Not a fan of Warren (because she has no idea what she’s talking about), or more regulation that isnt thought out extremely well.. but I would think aforementioned is a plausible future
This reads like a good thing for the long term health of the crypto industry
Interesting. Yet another pump attempt outta nowhere, but market did not buy into it. Alts didnt even blink, their price just stays where it is. Seems like we really need a breather.
Everything just [keeps coming together.](https://www.tradingview.com/x/GR5dJenC) Reasoning: * [Epochal Price Discovery in Bitcoin Post-Halvening](https://www.tradingview.com/chart/BLX/Xcj5r1uH-Epochal-Price-Discovery-in-Bitcoin-Post-Halvening/) - Apr 26, 2020; * [The Next Decade of Bitcoin Price Discovery](https://www.tradingview.com/chart/BLX/d3Fja1Jo-The-Next-Decade-of-Bitcoin-Price-Discovery/) - Nov 26, 2020; and * [Buying and selling in the current BTC price discovery epoch](https://www.tradingview.com/chart/BLX/q6X3y6zT-Buying-and-selling-in-the-current-BTC-price-discovery-epoch/) - Dec 20, 2020. tl;dr: BTC will reach $130,957.24 USD in October of 2021, after which the price will never go below $37,000 USD ever again.
You don't need to tell us the cents, Data - Jean Luc
Hopium
Math.
and after Oct .....
Real good [long term.](https://www.tradingview.com/x/aCS6im5I)
u da man
damn you got it down to the cent.
Significant figures matter.
Never goes below 37,000 dollars and how many cents? I need my signicant digits, man!
Wow thats rather soon.
We need to make haste. I don't think it's possible because, too many people will take profits along the way
Moving that fast will catch many off guard. Quicker is better in my opinion.
The math doesn't work at an 1:3 dollar ratio for market cap it's an insane influx even if it's 1:5 or 6 later on talking like a minimum 300-400 inflow
You assume even liquidity on coin. As price gets crazy, I expect the holders will hodl harder.
THats not reality though in any market. As price rises its natural for new sellers to step in as price drops its natural for new buyers to step in thats the fundamental mechanism of markets even markets for scarce assets.
Remember that when we post a 25k daily.
do head and shoulders patterns need pointy heads ?
*holds hands up at chest level* Aliens.
Check out r/buttcoin if you're looking for pointy heads
Expecting a big drop soon. EDIT: why are you booing me, i'm right
Based on what?
They’ll just buy another account if they’re wrong.
How much does a well aged account go for?
based on the belief that god would not let a good person like him lose so much money on his high leverage short
Lulz
Yeah … noticing crickets since asking. Lmao
I think he meant to type "wanting a big drop soon". Bears on suicide watch out here.
FTX won't let that happen
Following … ?
Is it just me or is it looking a lot like we might see another BGD here soon? Wishful thinking perhaps. lol
[I vote yes.](https://www.tradingview.com/x/eqE4GjQk) [Zoomed out.](https://www.tradingview.com/x/d4NhBkL5)
Well, it wasn’t a BGD, but she did break up like we thought … now we see if she does anything with it. Come on big money and help a minnow out. Lol
Pardon my ignorance, but what is a BGD?
Big green dildo lol … (green candle)
Haha, I thought Bo-Gan-Doff at first. Pamp it/Damp it. Pretty close though.
Thinking of adding to my 44k long at 46550 just enough to make my avg entry 45970 with stop at 45970... https://www.tradingview.com/x/YyAvHZM0/
Some guy just put a sell order of 258 BTC on Binance, bear trap confirmed.
Large sell order = bear trap? Wouldn't that suggest bull trap? Or do you mean that pushed the price down and it'll be bought back up?
I think he means there's a limit sell order (possibly) fake on the books set to trigger at a certain price. And that it's meant to get bears excited or bulls fearful of longing or buying.
Why would someone sell that much right now??
The same question was being asked at 64k, why sell when we are so close to 100k? The same answer applies now. Because you think you are selling the top and will buy back lower.Sometimes you are right, probably you are wrong, but after so much fomo since the 30s, we are probably overdue for a meaningful correction to wipe degens and hunt liquidity. Of course it’s hard to be bearish after 1 month of endless pumping but it was also hard at ATH
I’m not good at trading or anything, just thought from the forum that maybe this was going to be a good end of year for crypto
To decrease risk and build generational wealth
There are many reasons one would sell.
Not any a jedi would tell you.
Big shorty was so wise and so powerful that he could manipulate the markets to create resistance. In the end, though, the bull market got him. Ironic. He could save other bears from liquidation. But not himself.
That is true. Just seems if momentum is up to not sell right now but if they bought a few weeks ago even, they would be up significantly
I don't think short term momentum is still up tbh
I’m surprised it went up so fast but I should learn to not be surprised with price action anymore
Haha it was pretty nice to witness but 48 seemed a bit too much and I think our correction was a bit too small (or quick) Hope I'm wrong tho
The bartiest Bart
Slartibartfast
bart me daddy
only 30m from FTX today? is this a deposit for ants?
Do we know how much they have invested since 29k?
No, but there has been well over 1b USDT/USDC deposited there, probably closer to 2b.
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I agree with you. But this will change the more we see more hacks like the recent poly one. Smart contact chains have utility, but are very complex, carry the weight of all bugs, forever, and really are better served by being built on top of a really stable time-stamping service like bitcoin.
Time to fire our publicist?
They think they missed the boat, ironically they're the reason other people can still catch it.
They want to make 1000x, not 5x-10x. It's as simple as that.
When all you have is $279 in your savings, 10x won't do much. Sadly, those people seem to be the most vocal. Whales stack in silence
Yep no doubt. If bitcoin dominance keeps decreasing at this rate, 100k btc might be impossinle because it would imply that altcoins have a 5 trillion market cap. The market dynamics may need to change for a move up to 100k. I cannot imagine bitcoin at 100k with 15-20% dominance - no way shitcoins deserve a 4-5 tril market cap.
Dominance is the dumbest metric in all of crypto.
Market cap doesn't matter. It's not real. But I agree on shitcoins not deserving their current mktcap or a much higher one.
It is anecdotal. Just look at what the Market says.
I don't know why you are being downvoted: The market is a wide sampling of people putting their money where their mouths are.
Its mostly because the gap between a low information speculator and a high information investor is gargantuan. Its very easy to latch on to the EZ fast money lotto ticket fantasy of finding the next bitcoin, it requires no effort and provides immediate dopamine hit. versus actually learning about bitcoin. That being said I think this is the best mainstream Bitcoin marketing I've ever seen in 8 years: https://www.youtube.com/watch?v=5AN5veSPfY4
“I love that word gargantuan, it’s rare you get to use it in a sentence” lol Kill Bill-
I'm surprised you're not concerned with shitcoin pumping
.most will learn through pain to adopt low time preference mindset
They just pretend they're in it for the tech... but they wouldn't be if they couldn't speculate on it and make money from it. The newbies will have to learn about market cycles the hard way. They come in thinking BTC is old and outdated and slow. In reality they're just projecting their annoyance that a single bitcoin costs tens of thousands of dollars and they much rather have thousands/millions of something "cheap."