patrick.net

qroproton says

What do you see?

A fake currency with no fundamentals that's not as widely adapted as crypto people would pump to you. Faith will eventually be lost in crypto. The tech will be used, but it's not currency. Speculation.

Whether it's gold, resources or a military, currency needs something backing it. That's just simple logic. The USD is backed by our military, which is probably more valuable than most the worlds gold if you think about it. And our resources. We're one of, if not the only self sustaining nation on the planet.

BTC is valued in dollars (and other currencies) so maybe if there's continued inflation it keeps going up. Hard to predict something that is technically 100% worthless. Crypto doesn't make any sense and seems like a classic wealth extraction mechanism. Seems to be working for the whales.

@wookieMan

Probably you are right, but I am just looking at price. I see it as an asset class. I dont care about fundamentals.

qroproton says

What do you see?

Bitcoin investors need to do what they should always do: Dollar cost avg. and HODL. The correction is needed in order to move up again. I see capitulation and consolidation for a few month, then a new bullish wave. Be patient on this exciting journey and ignore the FUD.

Bitcoin says

The correction is needed in order to move up again. I see capitulation and consolidation for a few month, then a new bullish wave.

Capitulation? Pretty scare.

I would short it, wait and buy it back.

qroproton says

Capitulation? Pretty scare.

Those that traded on leverage need to lose their shirt and capitulate....we went up too fast. There are a lot of people that hope for 300k Bitcoin this year. When those people lose faith and capitulate we can start the next bullish wave.
When dogecoin ran up I got messages from people that have never, ever bought crypto before. They wanted in. Thats the sign to get the fuck out if you are a trader. If you like me.....you dont care about short term price volatility for Bitcoin..... 20k, 30k, 40k, 50k, 60k, 70k.....doesnt really matter.....I am in it for the long run.

to sum it up....give it time and enjoy the ride.

Donald says

Any ""investment" that requires you to HODL is a scam. Few people understand this

For me, BTC is not an investment. It is pure speculative as opposed to commodities. That asset class has a lot to do with the real economy.

Donald says

Any ""investment" that requires you to HODL is a scam. Few people understand this

ROFL
That is the dumbest comment I have read this year.

Donald: its 2008 and housing just crashed......sell because HODL means scam!!!!!
Me: buy more houses

Donald: its 2001 and stocks just crashed.....sell, sell, sell.....dont HODL because stocks are a scam!
Me: buy like there is no tomorrow

Donald: its 2019, nobody talks about crypto anymore and Bitcoin is at 3k....SEEEEELLLL!!!!!
Me: Bull markets make you money, Bear markets make you rich....BUY!

Donald: its Q1 2020, covid crash....
Me: LOL

Bitcoin says

you dont care about short term price volatility for Bitcoin

Agree, I beg for volatility.

qroproton says

What do you see?

It's a buying opportunity! Back up the truck, baby!

Donald says

Bitcoin is a scam. It has no intrinsic value

yaawn

nobody is trying to convince you to invest in Bitcoin.
Buy your gold or silver or stamps.

FuckCCP89 says

It's a buying opportunity! Back up the truck, baby!

he gets it!

#NOBEARS

Starting new bull market

FuckCCP89 says

It's a buying opportunity! Back up the truck, baby!

Not now, wait!!!

Donald says

Bitcoin is the only "asset" that requires it to be constantly pumped on social media to keep the price high. No other asset class is like that. Anybody ever pump a mutual fund? No

another dumb comment. lol

Equities/Real estate get pushed higher by historic low interest rates. Thank you FED for keeping the feds fund rate at near zero.
Bitcoin goes higher because institutional demand (Microstrategies, Tesla, Grayscale, etc) meets limited supply.

Donald says

Used cars outperformed Bitcoin as an investment for 2021.

What are you investing in, Donald?

Donald says

Used cars outperformed Bitcoin as an investment for 2021. Think about that the next time someone pumps shitcoin.

Sure, there were better "investments" out there. Corn was great. What I am trying to do is "reading the tape".
See if the chart has all the info you need for a trade.

Donald says

I have Ford and GM for now

I own those too :)

besides a lot of other stocks, real estate and crypto.

Never put all your chips on one bet (EV).....diversify, dollar cost avg and hodl.

H&S pattern.

If you zoom out a little, next stop is $20k before BTC finds a strong support. The area of confluence is all the way down around $10k…ish.

Word is recent drop is due to someone dumping 79K bitcorn onto coinbase instead of OTC like one would normally due for that many billions of $. If true, it didn't move that much.

qroproton says

FuckCCP89 says

It's a buying opportunity! Back up the truck, baby!

Not now, wait!!!

Now and then some more after wait! DCA, baby!

Eman says

H&S pattern.

If you zoom out a little, next stop is $20k before BTC finds a strong support. The area of confluence is all the way down around $10k…ish

Not a chart pattern fan myself but I concur¡

—> $25k —> $20k

just_passing_through says

Word is

That's all bitcoin is. Word. Everything is a lie with it. No idea who holds a stake in it. That is pushed as a positive but it's not. You literally have no clue what you're "investing" in. It's comical and scary at the same time.

I would not be in a hurry to buy anything atm Puts maybe on a few things, deflation by definition is not on it's way playing the safe money game at the same time like almost always deflation by manipulation may well be on the way imo... Keep an eye on the DXY https://invst.ly/vhy19 it can absolutely pump. 1 theory I am testing is all that momma/daddy baby money dumped on the system, let what is given snatched meaning institutions know: who what when and where that money goes (the flow) and have the ability to harvest a good chunk of that money deflating USD as they cash out and at the same time inflate goods and services all that more stealing those dollars right out of their hands. I dont see equities or crypto done dumping and consolidating my plan is I will start buying alt coins and stacking coins and tokens at BTC 22800-19800+/- and save some fire power for BTC 14000+/- the area of a gap on the monthly... I have major doubts the BIG dump is here, higher highs likely coming to both equities and crypto imo

Eric Holder says

Now and then some more after wait! DCA, baby!

Lol. More more¡¡

WookieMan says

No idea who holds a stake in it.

Thats my favorite about it.....the government has no idea how much i have in Bitcoin and nobody can touch it :) its on a hardware wallet, disconnected from the internet/computer.....aka cold storage.
Plus i can cash out Bitcoin into FIAT anywhere in the world. These benefits are priceless.


WookieMan says

You literally have no clue what you're "investing" in

It's like digital gold....much better than physical gold.

http://ecosalon.com/9_life_changing_inventions_the_experts_said_would_never_work/
Im not big on BTC POW or even so much on the idea of digital gold but may buy back in a small stack.
Lets see who reports what Institutions not already making it public... However blockchain, ledger and associated
technology is the 4th revolution which is clearly seen with so many use cases and problem solving. 75% of banks are
dumping the old tired out technology SWIFT where trillions of dollar settlements are performed daily and many smaller countries
and banks are cheated every day since it's creation..... Want to guess what it's replacement will be for these institutions?

So much use case for certain coins it is and will be easy to make massive money in this market being so early
and front running just about everyone and their sisters....

The replacement of Swift "will not" be BTC just for the record....

Cash says

So much use case for certain coins

Blockchain technology MIGHT be good for a distributed ledger but it seems like a lot of work that could be done more efficiently by other means.

Nothing is un-hackable.

Crypto currency is a game where some geeks pretend to be miners of virtual gold. They mint coins and sell them to people and use the money to pay for electricity, hardware upgrades, rent, food, hookers, blow, and all of the other things they want and need. Some criminals use the system as they can transfer large amounts of money easily.

It's a game, not an investment. All incoming money is consumed to keep the ledger current. All sales of coins are to people that buy in the hope that someday someone will pay them more.

Study PI network which uses virtually zero energy. I wont spell it all out but it's an interesting project for sure...
If anyone wants to be a part of it's development you can use minepi.com/cash007 (cash007)which is not me but a deserving soul....
That link goes to PI's site and has all the information

Onvacation says

Blockchain technology MIGHT be good for a distributed ledger but it seems like a lot of work that could be done more efficiently by other means.

Yep it will take a lot of work to setup all systems go in this $4TH industrial revolution I wouldn't expect less would you? You invent that better mouse trap to run this $4th global industrial revolution and I will pour $$$ into it. ;) Would love to hear about it...

Onvacation says

Nothing is un-hackable.

Hackers tried to hack Bitcoin's code since inception. Hasnt happened yet.
Governments tried too. Its been ten years since Bitcoin got released.

If you think you can hack it....pls do it....you will go down in the history books!

Best of luck!

If someone invests in physical silver coins and thinks buying matchbox cars is an investment its kind of a waste of time to explain the benefits of cryptocurrencies to that person.
not saying any names....(hint....on vacation)

The 30Kish level is pretty key, if that support fails, then you're looking at high teens...

Cash says

run this $4th global industrial revolution

“I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones.”

― Albert Einstein

If we're in the third monetary revolution (worldwide fiat) the fourth revolution will be barter and coins with intrinsic value. I hope we don't go there any time soon but it's hard to imagine the printing going on forever.

We are much more likely to enter a socialist, smart phone, social credit, system to determine IF you eat rather than a cryptocurrency system that you can use to eat anywhere.

Bitcoin says

waste of time to explain the benefits of cryptocurrencies

Most "in general" have a very simpleton and narrow understanding and even much less interest in really digging in and seeing what it's about. It makes me so happy in how many
laps around the field I'm front running 99.999 of the world before they even leave for the track. They can yell to the heavens Nay saying all they want, it won't change the projectory
of crypto nor the massive percentage of capital growth I am experiencing in the slightest no more then standing in front of a moving train would....

Dholliday126 says

The 30Kish level is pretty key, if that support fails, then you're looking at high teens...

Possibly even back to that gap price on the monthly 14000+/- right where the last run really started

"The Fourth Industrial Revolution and the Earth" IOT at its best so much larger then just a new monetary system
but it sure will make a diff. the inclusion of the un-banked and under-banked much easier on a global scale.
http://www3.weforum.org/docs/WEF_Building-Blockchains.pdf

Dholliday126 says

The 30Kish level is pretty key, if that support fails, then you're looking at high teens...

who cares short term....in a year or so it will be at 100k. People who predicted it will go to zero or 1.2k are pretty quiet lately :)

Cash says

you can use minepi.com/cash007 (cash007)which is not me but a deserving soul....

Sound like fun, Will give it a try.

Onvacation says

We are much more likely to enter a socialist, smart phone, social credit, system to determine IF you eat

AR-15 says I eat regardless of what fucking phone "determines".

qroproton says

Sound like fun, Will give it a try.

Very easy to earn PI push a button on your phone every 24hr to keep mining thats it. Once your setup you can invite people to do the same
using your user name when they setup and the rate of your earning increases. I also run a consensus node for the community which is Stellar
XLM protocol I believe for the testnet program. I think it will be a while before a mainnet is setup where there is opportunity for monetary
benefit which is good in that we can earn more PI for 1 as well as find the bugs and repair them before it has to be done with governance which can
complicate matters. Anyway yeah sign-up using your real name which is important for kyc then just use an alias... GL