Doesn't seem like a savage stampede for the exits just yet this will be interesting to keep tabs on as I've not payed much attention to crypto historically.
Anyone else playing around with cryptocurrency?
- Thread starter Steel+Killer
- Start date
feel free to expound i literally pay no attention to crypto or at least til a couple of weeks ago. or elon for that matter what's elon up to
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Elon has been bad mouthing Crypto for the last week or so. He no longer allows people to pay for their cars with cryptocurrency. He's been brutal for those vaporcurrencies.
yup and he will dump a billion dollars into it after he is done driving the price down... and then will announce that they have changed their stance on it...driving the price back up... Oh wait thats illegal(sort of), but the .gov does it all the time and gets away with it...
I've been reading that Doge is a lost cause. I don't have the articles handy, but it's fallen from grace lately.
im not in it for long... if I am in it 2 days, thats a long time. If I sold now im up 20% for the day... nothing to sneeze at.
Yeah, I think the gov.com would have a difficult time with him trying that. But who knows?
Oh there have already been things swirling around that what he has done over the past 2 weeks is manipulation and is illegal...or at least grey...
But like i said the .gov can do it and its "no big deal"... i.e. all this electric car investment they are planning to do... share prices of a lot of the electric car industry is way up. I think Lordstown Motors was up like 20% yesterday... For what... .gov intervention manipulating prices...
Elon lol. sure it had nothing to do with the rumors china was cracking down and banning crypto.
Elon only wants to drop the crypto market before spending a ton of money buying back in. He's a huge hypocrite and is virtue signalling some more since his company's stock value is dropping like a rock.
I bought something like 500 pieces of Polygon (MATIC) last week when it was $1.50. I barely missed the peak selloff four days later when it hit $2.83. I made some money off it but not nearly as much as I could have had I been paying more attention. Thankfully a profit is still a profit. Not looking forward to next tax season. I did buy some more BTC and ETH on the most recent giant dip. I never spend more than I can afford to lose.
With meme coins, there is an inner circle who pumps the price and they all collectively decide to do a huge dump when they think they've reached its peak. Many are often left holding the bags. The dump only takes minutes. In this video, the wondrous Coffeezilla joins a pump and dump Discord server and shows how it all goes down.
I bought something like 500 pieces of Polygon (MATIC) last week when it was $1.50. I barely missed the peak selloff four days later when it hit $2.83. I made some money off it but not nearly as much as I could have had I been paying more attention. Thankfully a profit is still a profit. Not looking forward to next tax season. I did buy some more BTC and ETH on the most recent giant dip. I never spend more than I can afford to lose.
With meme coins, there is an inner circle who pumps the price and they all collectively decide to do a huge dump when they think they've reached its peak. Many are often left holding the bags. The dump only takes minutes. In this video, the wondrous Coffeezilla joins a pump and dump Discord server and shows how it all goes down.
Government is looking to regulate the shit out of it so I'm not sure it will be the cash cow it once was for certain players.
Wells Fargo: US bank set to offer crypto fund to rich clients
Wells Fargo, America's third largest bank, said the service would be available for wealthy clients.
www.bbc.com
"European Investment Bank Issues Digital Bond on Ethereum. Will Bond Tokenization Become the Norm?" https://www.crowdfundinsider.com/20...m-will-bond-tokenization-become-the-norm/amp/
Yep, the financial institutions have finally realized crypto is here to stay. I can't say I'm surprise the IRS and SEC are getting involved. This being tax free was never meant to stay. It would have been nice. The powers that be cannot have too many plebs getting ahead and out of debt! Still sucks but there is some money to be made in it if you're intelligent with your investing, trading, or whatever it is you plan on doing. Just have a sound strategy in place and stick with it. When it comes to BTC, BCH, WBTC, ETH, and LTC, I'm in those for the long march.
How does a society work when it's currency (crypto) changes value minute by minute to such an extreme? I can't see crypto becoming the new standard upon which countries count on for it's trade. Way too much fluctuation for it to ever be standard bearer.
I don't invest in anything I don't understand because there are experts waiting to fleece the ignorant. Just what is the underlying asset for cyptocurrencies? You buy a secured bond and you have liquidation rights. You buy a CMO and you have secured rights in foreclosure. You buy gold and you have a some metal to show for it. You buy stock and you own a percentage of the company. Just what do you have when you buy cypto? A promise of what backed by what? I just don't understand. More power to those of you that do. I find it amusing the logo for bitcoin is a golden looking coin.
One of the biggest advantages to crypto is when a transaction is made, there is no middleman. It's instantly done. Just be sure you're sending it to the correct person otherwise it's lost forever. It's also untraceable, for now. Some friends of mine purchased some luxury toys using Bitcoin and Ethereum, at a discount for what those things were going for in USD. It's pretty much an alternative to our current fiat currency.
The primary thing people generally use it for is for day trading. That's what I do. Once it peaks, sell it, convert it to USD, and make a withdrawal to my bank account. Other people, myself included, will convert the lesser stuff into something bigger like BTC, ETH, and LTC. I'm not looking forward to filing taxes when the next season comes around.
The primary thing people generally use it for is for day trading. That's what I do. Once it peaks, sell it, convert it to USD, and make a withdrawal to my bank account. Other people, myself included, will convert the lesser stuff into something bigger like BTC, ETH, and LTC. I'm not looking forward to filing taxes when the next season comes around.
I urge everyone to watch the video I posted above.
He touches on most of these concerns and questions about bitcoin and where it fits in the worlds currency model. He talks about the history of currency, how it was backed by gold, ongoing issue with printing money, government control, hyper inflations, market cycles, etc.
It may not answer all questions but its inciteful.
He touches on most of these concerns and questions about bitcoin and where it fits in the worlds currency model. He talks about the history of currency, how it was backed by gold, ongoing issue with printing money, government control, hyper inflations, market cycles, etc.
It may not answer all questions but its inciteful.
I'm not into cryptocurrency, and won't be, but did you notice on the new Form 1040 for 2020 right after your name/address:
"At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?"
"At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?"
I’m down over 30% this week. After the last three years, I’m not phased one bit. Look at the yearly lows for bitcoin and let me know when you spot the pattern. 
Oh, I noticed and my accountant asked me if I started dabbling in crypto. I didn't start until the second week of January. As stated a couple of times already. I am not looking forward to next tax season.
This Bitcoin throttling is quite a sight. Gotta hand it to acquaintance he rode it up and then shorted the stink out of it.
how did he short it? there are no options on it and unless he shorted the miners (much the same issue), don't see how he could
If memory serves I believe he used a couple of different methods one was called etoro. Also used some leveraged trading as well.
Musk is a predatory investor who likes to play pump and dump games. If memory serves me, this isn't the first time this creep has talked up a product to lure others in, and then bad mouth it later:
https://www.financialbuzz.com/bitco...ors-accuse-elon-musk-of-pump-and-dump-scheme/
Even newsweek wrote of his bitcoin p+d stunt. Funny how the sec wants to regulate the crypto markets, but asshole Musk gets no sec investigation. He is evil and I'm waiting for the chicoms to "nationalize" his plant in china.
His supposed excuse for dumping was that he was doing it to save mother earth from the evil miners....................Give me a break. He had no clue that mining involves GWH's? How many GWHours does this jerk think his industries use up, and that's not even including all the carbon foot printing from his space adventures? Hypocrite like so many of these greenies............Just move the pollution to another part of the world where people are lab rats.
Xtoken, buy it within a week or 2, should massive spike due to a update here soon (xlend). Even after 2 weeks you might still be able to turn a profit but buying now is a safe bet, easy money.
xtoken.cafe
xtoken.cafe
I put about $1K into SHIBA and cashed out at $5600 it got as high as over $8k. I rolled a good bit into Dogelon Mars (ELON) hoping it takes off.
You are correct, but I had some people tell me they think SHIBA is going to stay where it’s at for a while. So I thought I would roll some of the proceeds over to Elon while it was still dirt cheap. The way I look at it I’m still playing off of my original thousand dollar investment.
