patrick.net

Janet Yellen has criticized Bitcoin and cryptocurrencies as being used for illegal transactions.

https://finance.yahoo.com/news/her-own-words-janet-yellen-180826628.html

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ad says

Janet Yellen has criticized Bitcoin and cryptocurrencies as being used for illegal transactions.

https://finance.yahoo.com/news/her-own-words-janet-yellen-180826628.html

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And that's the problem. A Mexican drug lord can pile up a room full of cash. Has Mexican authorities bribed or uses off shore sources and dumps $20-30M over a couple of days/weeks into crypto. Prices rise and FOMO sets in for the average person. So $30M more gets pumped in from average people as the drug lord sells it off making his money squeaky clean, all while getting paid to launder it.

I'm just throwing out random numbers, but it's not difficult to move a market that has such a low participation rate. All the same shit is being posted again about BTC going to the moon like back in '17. As I've said, rinse and repeat and suck the money out of suckers.

Cash says

Do your own DD

I trust myself last re: DD. I try to find one smart guy and get inspiration and confidence from him. Preferably he is not selling me anything. It has worked every once in a while.
This Saylor guy caught my attention with his rationale. And his commitment of 400 m:
www.youtube.com/embed/WrR95PFYDFQ

Anyway I need a little coin to buy psychedelic drugs on whatever site has replaced Silk Road.

I remember Saylor as I lived not far from Microstrategy back in the late 1990s. He was worth a few billion then his stock went bust. I am surprised Microstrategy and Saylor are still around to get this amount of attention.

WookieMan says

As I've said, rinse and repeat and suck the money out of suckers

I don't see the major governments that issue debt (i.e, European Union, USA, Canada, etc) allowing Bitcoin and crypto currencies to flourish.

Let alone, Bitcoin is becoming like tulips a few hundreds of years ago in Holland, its just a hyper-speculative asset.

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Crypto is just another market to be harvested..... I don't give 2 cents for anything wookie has to say about the subject nor do I care what analogy you
use in reference. Its much easier to just spew opinions then add added value to these post....

ad says

I don't see the major governments that issue debt

By the way debt don't matter with modern monetary theory just add the digits...

Cash says

Crypto is just another market to be harvested

There ya go. You finally said what I've been saying. Make your money. Way too risky for my blood and I'm man enough to admit that. I've got kids I've got to raise and I'm quite well off as is. I haven't told anyone not to gamble in crypto, just to be careful.

Cash says

Its much easier to just spew opinions then add added value to these post....

That's the thing, there's no value to be added to these posts. They reek of pump and dump. MSM is crap too, but link to CoinDesk, blockchain dot whatever. You're posting biased sources pretending like it's fact. Those sites don't get any ad revenue without traffic and people buying crypto. You know this is fact. If you want to trust the information, that's up to you. Understand the bias at least is all I'm saying.

Robert Sproul says

I tried scanning this thread for mention of the news that PayPal was now selling (correct terminology?) Bitcoin. This seems huge to me. I would have dabbled in BTC a little bit but it always seemed like too much hassle. Now I, and 350 million other PayPal users, can do it easily. I guess, I haven't done it.

Robert, you may also use you the Robinhood app to buy Crypto. Or sign up for the Coinbase or Binance exchange app.

Cash says

By the way debt don't matter with modern monetary theory just add the digits...

As long as the US federal budget spends less than 15% on debt service then its okay.

And as long as food, housing, transportation, public education, and healthcare are readily available to the working class, then yes it is okay (i.e., standard of living sustained).

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ad says

As long as the US federal budget spends less than 15% on debt service then its okay.

And as long as food, housing, transportation, public education, and healthcare are readily available to the working class, then yes it is okay (i.e., standard of living sustained).

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All I can do is laugh at you guys, all the way to the bank.... Bank on it lmhao

https://www.youtube.com/embed/Ky0Gh3xncdw

Cash says

ad says

As long as the US federal budget spends less than 15% on debt service then its okay.

And as long as food, housing, transportation, public education, and healthcare are readily available to the working class, then yes it is okay (i.e., standard of living sustained).

.

All I can do is laugh at you guys, all the way to the bank.... Bank on it lmhao

I hope you can get your winnings from the Bitcoin casino before it goes bust.

Not a casino. Long term investment that will be very profitable. Bitcoin has been valued at a few hundred dollars just recently. Now its already at 19k - per coin!
Citibank estimated it will be at 318K a coin by next year.

ad says

I hope you can get your winnings from the Bitcoin casino before it goes bust.

No worries at all... BTC and crypto in general are going up, no ifs and buts about it, I will definitely be taking it to the bank. At the same time if and when I see the DX bottoming out I will be deleveraging JIC of a good pullback which BTC could go all the way back to 13500 and thats only a 38.2 fib. Im not worried about my money no need for you and wookie boy to be.. lmhao

PayPal CEO on why the company is getting into cryptocurrency

https://www.youtube.com/embed/aZO4ddO0J_E

Coinbase CEO: Trump Administration May ‘Rush Out’ Burdensome Crypto Wallet Rules
https://www.coindesk.com/coinbase-ceo-trump-administration-may-rush-out-burdensome-crypto-wallet-rules

3 Reasons Bitcoin Crashed By $3,000 (And Why It’s Still Bullish)
https://www.coindesk.com/3-reasons-bitcoin-crashed-by-3000-and-why-its-still-bullish

Lol is all I'll say. This has happened before. I'd have sold everything at $18k unless you were still holding from the previous spike 3 years ago as BTC just moved sideways for 3 years. While they're still positive articles in overall nature, I at least appreciate that you're not that biased and can post what are seemingly negative articles to the common person.

BTC and crypto is an amazing trading vehicle. It is not a long term investment. There might be a turkey day bump due to families getting together and selling them on BTC, but it's likely back in 4 digit land no later than the end of January. There will be a sell off due to uncertainty. Nobody knows how this transition goes (or doesn't) and BTC ain't gonna be there for you if shit hits the fan. I think people realize this.

Not a prediction, but wouldn't be shocked if it's below $8k by end of year.

Guggenheim Fund Files to Be Able to Invest Up to Almost $500M in Bitcoin Through GBTC
https://www.coindesk.com/guggenheim-fund-files-to-be-able-to-invest-up-to-almost-500m-in-bitcoin-through-gbtc

I am still holding due to I did expect some sort of price impulse move up after the dump I could take advantage of and sell
some of my holdings which I am likely to do if BTC doesn't perform well today. Whales dumped a bunch of coin on the exchanges
at the top which indicated they were going to cash at the same time USD institutionally is at the bottom of the barrel and likely going
lower, BTCs main quote currency.the 1 that really cts. Also DJI is up over the weekend and xau is likely to continue to fall, all BTC
positive and Sunday mornings are often BTCs sweet spot as is Tokyo's FX Monday open and could take the challenge of 18250/18800
otherwise I might have to kick it to the curb and make price plead me to be taken back.

Can someone explain me when BTC goes up every time we compare it with Tulip Bulb Mania of 17th century, but with BTC again back to it’s all time high of 2017 proves it’s now considered as an asset class like gold, stocks, art collections or Real Estate. With Square and PayPal support it opens up more inflows in this asset, so like any asset bubble it will have its own cycle and irrational exuberance. Experts say BTC will goto 100K / 300k time will tell.
Any asset is worth as much as the value it provides and no more, for me I fail to understand what’s the physical value of BTC and hence stopped me from investing my hard earned money in it. But for sure BTC has now become an asset and is not like one time Tulip Bulb mania.

My reason for not investing in BTC is I don’t trust crypto exchanges and not sure if it’s still has full support from government. Neither FDIC nor SIPC coverage applies to cryptocurrencies. And crypto presents some unique risks that cash and securities do not. First, the exchange where you store your cryptocurrency could get hacked.

So I stick to basic proven assets like gold, stocks and real estate. Once we have backing from government FDIC or SIPC I might decide to invest 1% of my portfolio.

I stick to cash, stocks, real estate, Yams and .22LR in 1000 round boxes.

Tix2fun says

So I stick to basic proven assets like gold, stocks and real estate.

Thats probably best. Only invest in things you have knowledge about ;)

NoCoupForYou says

I stick to cash, stocks, real estate, Yams and .22LR in 1000 round boxes.

I have plenty of all that and the players in crypto on patnet don't care if you do or don't partake, I know I don't it matters not to me at all lmhao

Tix2fun says

Once we have backing from government FDIC or SIPC I might decide to invest 1% of my portfolio.

https://www.occ.gov/topics/charters-and-licensing/interpretations-and-actions/2020/int1170.pdf Also many of the exchanges depending are insured
especially in the DeFi market 1 being NEXO https://nexo.io/security

Cash says

Tix2fun says

So I stick to basic proven assets like gold, stocks and real estate.

Thats probably best. Only invest in things you have knowledge about ;)

Back in 2017 like many investors I have done deep dive into crypto read lots of articles etc . Infact I did a course in blockchain.I believe in blockchain but for BTC I shared my reservations why I am still not convinced it is beyond my risk appetite.

Also I stick to investment fundamentals, BTC Investors tend to think that there will always be buyers whom they can sell at a higher price than their cost. It looks true because many have been doing it, but this is obviously incorrect. When the prices appreciate beyond the affordability of investors, there will be no buyers and prices come crashing down.

Tix2fun says

I stick to investment fundamentals

Not much more fundamental then the banks being able to play in this arena. https://www.occ.gov/topics/charters-and-licensing/interpretations-and-actions/2020/int1170.pdf Tix2fun says

When the prices appreciate beyond the affordability of investors, there will be no buyers and prices come crashing down.

Most buy fractions of BTC so that is not much of a problem. I personally trade crypto similar to how I trade currency strong against the weak and I am not afraid to sell which is the problem many have due to lack of experience.

WookieMan says

Lol is all I'll say. This has happened before. I'd have sold everything at $18k

Wookie, why would you have sold everything at 18k? Its over 19k today and apparently hit a new all time high.

https://www.cnn.com/2020/11/30/investing/bitcoin-prices-record-high/index.html

Isnt it better to seller higher than lower? Unless you dont like to make money.....

G36 says

Isnt it better to seller higher than lower? Unless you dont like to make money.....

I don't worry about things like that anymore. I'll leave it up to you. Sell when it's up. When it goes down, just hope the elevator is able to stop at your floor.

G36 says

Isnt it better to seller higher than lower? Unless you dont like to make money.....

For the last several days/weeks RSI comparison BTC off the rails being the strongest currency on earth short, medium and long especially medium and long... 100%+ stronger then the next in line ;) Lots of people haven't learned how to ride price for all it's worth and lose lots of profits leaving them on the table.

wookie,
on 2020 Nov 26, 7:16am you said you would have sold "everything at 18k". 4 days later you dont worry about things like that anymore.

ROFL. You do change your mind quickly! Almost as quickly as Bitcoin has reversed to NEW all time highs!

WookieMan says

Lol is all I'll say. This has happened before. I'd have sold everything at $18k

Total ignorance of the subject and then some....

Yep Cash, and its very easy for Anti-Bitcoiners to say, "I would have sold", after the correction. The fact that Bitcoin hit all time highs a few days after makes this all the better...

Obviously, telling people they would have perfectly timed the market after the fact is the easiest thing one can do. A 7 year old can do that.

Sorry to say this but some of the comments here are just an embarrassment (Mainly coming from Wookie and Onvcation).

Point being professional traders I know many times buy when the old high is broken which depending on the broker BTCs ATH is yet to be broken on some exchanges just wait till 20k is snapped ;) Back in the day when BTC made that ATH Bitfenex was the highest volume exchange out of them all, and it hasn't met the high water mark yet
https://invst.ly/s-lgu Now what most are not aware of is there were way less US traders because it was such a hassle and US traders couldn't trade the best exchanges however now Coinbase is 1 of the largest if not the largest exchange traded and is dominated with US traders lots has happened and most will miss out on the sweet spot (now) because they roll with their ignorant opinions instead of a real working market theory based on best practice knowledge.

1 other item to notice is look at that big boner on 1 month candle biggest monthly hard-on ever, it's ready to burst all over the anti-crypto crowd and they best just continue to keep their eyes shut they are plenty blind enough ;) https://invst.ly/s-lgu

Cash says

1 other item to notice is look at that big boner on 1 month candle biggest monthly hard-on ever, it's ready to burst all over the anti-crypto crowd and they best just continue to keep their eyes shut they are plenty blind enough ;) https://invst.ly/s-lgu

dang, that is quite the big green boner lol.
Soon, the 20k All time high will just be a little tiny blip on the Bitcoin chart :)

G36 says

wookie,
on 2020 Nov 26, 7:16am you said you would have sold "everything at 18k". 4 days later you dont worry about things like that anymore.

ROFL. You do change your mind quickly! Almost as quickly as Bitcoin has reversed to NEW all time highs!

What the hell are you talking about? You talk about it being the best performing "asset" currently, yet negate the massive volatility of it. If I bought at $9k I'd have sold at $18k. WTF is another $1k? So my point stands and I'd have made money.

Are you guys in high school or something? I don't have to chase dreams in unstable markets. I'm good. You guys can enjoy $10k. I'll enjoy more is all.

"I'm good"

Yep, I dont think you would invest in Bitcoin, you just keep talking about when you would have sold. That sounds like middle school to me. Once you are in the game we can take you seriously. Until then, its just laughable.

G36 says

"I'm good"

Yep, I dont think you would invest in Bitcoin, you just keep talking about when you would have sold. That sounds like middle school to me. Once you are in the game we can take you seriously. Until then, its just laughable.

Laughable? You're the one on a forum gloating about $10k. Now that's funny. I don't know everyone here, but I'd guess being in CA a good chunk of these guys here make $10-20k/mo. They're just crazy and do it in CA ;)

Like I said, brag when you've made 6 figures on something. Anything. Likely won't happen with BTC.

WookieMan says

G36 says

"I'm good"

Yep, I dont think you would invest in Bitcoin, you just keep talking about when you would have sold. That sounds like middle school to me. Once you are in the game we can take you seriously. Until then, its just laughable.

Laughable? You're the one on a forum gloating about $10k. Now that's funny. I don't know everyone here, but I'd guess being in CA a good chunk of these guys here make $10-20k/mo. They're just crazy and do it in CA ;)

Like I said, brag when you've made 6 figures on something. Anything. Likely won't happen with BTC.

So you only care about 6 figures but tell us you would have sold "everything at 18k". You make no sense....keep trying. Fact is you talk a big game but dont own a single Bitcoin :)