Cryptocurrency

[Cdub100 3,380]

https://www.washingtonexaminer.com/news/goldman-sachs-bitcoin-new-asset-class

Mathew McDermott, Goldman Sachs’s global head of digital assets, said in research that Bitcoin is “now considered an investible asset” and “has its own idiosyncratic risk, partly because it’s still relatively new and going through an adoption phase.”

[Cdub100 3,380]

I firmly believe this last drop was manipulation by the banks to secure their own positions.

[GutterBoy 2,281]

5 minutes ago, Cdub100 said:

I firmly believe this last drop was manipulation by the banks to secure their own positions.

[Cdub100 3,380]

1 minute ago, GutterBoy said:

You're right. It's totally silly to think banks and investment firms would do anything nefarious now that they finally have the approval to purchase this new asset class. We all know Banks and investment firms are above board.  What am I thinking?

[GutterBoy 2,281]

25 minutes ago, Cdub100 said:

You're right. It's totally silly to think banks and investment firms would do anything nefarious now that they finally have the approval to purchase this new asset class. We all know Banks and investment firms are above board.  What am I thinking?

Here are the reasons I'm laughing at you

1) The article you posted was some dude by Goldman making a declaration.  It doesn't mean that they finally have approval to purchase crypto, they have been doing this for months.  The OCC said a year ago that they are good with it.

2) You have stated over and over that with the blockchain ledger you can see who owns the coins and it cannot be manipulated, now you say the banks are manipulating.

3) It's very obvious that these wild swings lately are tied to the news and tweets.  Even Goldman acknowledges that in your article, it trades like a penny stock on the slightest of news.

But sure, the only reason why it goes down is because people want more.

[Cdub100 3,380]

1 hour ago, GutterBoy said:

Here are the reasons I'm laughing at you

1) The article you posted was some dude by Goldman making a declaration.  It doesn't mean that they finally have approval to purchase crypto, they have been doing this for months.  The OCC said a year ago that they are good with it.

2) You have stated over and over that with the blockchain ledger you can see who owns the coins and it cannot be manipulated, now you say the banks are manipulating.

3) It's very obvious that these wild swings lately are tied to the news and tweets.  Even Goldman acknowledges that in your article, it trades like a penny stock on the slightest of news.

But sure, the only reason why it goes down is because people want more.

1. Yeah... what's your point? Do you think banks bought all they wanted months ago and are done?

2. When did I say the price can't be manipulated?

3. On what news? Nothing bad happened if anything we got more good news. I'm sorry but Musk doesn't have that kind of power. So no maybe you believe that and maybe the guy who wrote the article, but I don't.

As to your last point. Yes, large wallet address accumulated more. The people who sold are the ones who bought bitcoin in the last few months.

Do you come to this thread to show everyone how little you know?

[GutterBoy 2,281]

9 minutes ago, Cdub100 said:

1. Yeah... what's your point? Do you think banks bought all they wanted months ago and are done?

2. When did I say the price can't be manipulated?

3. On what news? Nothing bad happened if anything we got more good news. I'm sorry but Musk doesn't have that kind of power. So no maybe you believe that and maybe the guy who wrote the article, but I don't.

As to your last point. Yes, large wallet address accumulated more. The people who sold are the ones who bought bitcoin in the last few months.

Do you come to this thread to show everyone how little you know?

It's so hilarious that you BTC Zombies claim to be the only ones that understand BTC, and everyone else who questions BTC is dumb.  It's the same with the covid idiots that thought they knew everything about science by being scared by social media.

1) My point is that you were wrong when you said it was now an asset class which meant banks could now buy, and they were tanking so they could buy more.

3) Musk's tweets swung the price.  If you can't see that then you're focking retarded.  Musk does have that power, you're blind, everyone sees it.  And the the China news about banning crypto, prices responded to that.

[Cdub100 3,380]

9 minutes ago, GutterBoy said:

It's so hilarious that you BTC Zombies claim to be the only ones that understand BTC, and everyone else who questions BTC is dumb.  It's the same with the covid idiots that thought they knew everything about science by being scared by social media.

1) My point is that you were wrong when you said it was now an asset class which meant banks could now buy, and they were tanking so they could buy more.

3) Musk's tweets swung the price.  If you can't see that then you're focking retarded.  Musk does have that power, you're blind, everyone sees it.  And the the China news about banning crypto, prices responded to that.

Goldman Sachs says it's an asset class. Also, you're taking two different posts of mine and putting them together for some reason. As for understanding bitcoin you understand just enough to go around looking like a fool spouting your nonsense. You're the chicken-little of the geek club.

Some banks and investment firms have been buying and holding with 3rd party. What's new is those banks will soon start offering crypto to their customers. 

Just to be clear you think one man can drop an asset by 1 Trillion dollars because of a tweet? And you go around calling other people retarded.

Bitcoin and crypto, in general, will finish the year as the best asset to hold long term. Bitcoin has done it year over year for the last decade and I see no reason for that to change now. But you go ahead with your twatter 

[GutterBoy 2,281]

https://www.wsj.com/articles/elon-musk-has-become-bitcoins-biggest-influencer-like-it-or-not-11621762202

Cdub, You're retarded.

[Cdub100 3,380]

2 hours ago, GutterBoy said:

https://www.wsj.com/articles/elon-musk-has-become-bitcoins-biggest-influencer-like-it-or-not-11621762202

Cdub, You're retarded.

It's crazy we've never seen bitcoin pump and dump until this year when Elon started tweeting about it.  Last year when bitcoin pumped from 4k to 30k means nothing. It's all elon. 

[GutterBoy 2,281]

On 5/20/2021 at 2:24 PM, nobody said:

I think we're all about to get fūcked by Bitcoin.  I couldn't understand why the stock market got pummeled just as Bitcoin started crashing.  Then I realized asshóles must be leveraging the buy crypto, so now when it crashes, people have to sell their stock to cover margin calls.  

Please tell me no one here is using leverage to buy crypto.

https://www.cnbc.com/2021/05/25/bitcoin-crashes-driven-by-big-margin-bets-new-crypto-banking.html

This is a recipe for disaster.  3 years from now we'll watch the documentary on how all this was allowed to happen and everyone whose lives got destroyed because of it.

[Frozenbeernuts 1,652]

21 hours ago, GutterBoy said:

Here are the reasons I'm laughing at you

1) The article you posted was some dude by Goldman making a declaration.  It doesn't mean that they finally have approval to purchase crypto, they have been doing this for months.  The OCC said a year ago that they are good with it.

2) You have stated over and over that with the blockchain ledger you can see who owns the coins and it cannot be manipulated, now you say the banks are manipulating.

3) It's very obvious that these wild swings lately are tied to the news and tweets.  Even Goldman acknowledges that in your article, it trades like a penny stock on the slightest of news.

But sure, the only reason why it goes down is because people want more.

No one here said the price can't be manipulated. Cdub and I both have said multiple times we know the price can be manipulated easily right now since we are still extremely early in adoption. You fail to grasp this one simple thought, which means you cannot grasp anything about bitcoin. There's no point in talking about this if you can't grasp the most basic of ideas and concepts.

[GutterBoy 2,281]

3 minutes ago, Frozenbeernuts said:

No one here said the price can't be manipulated. Cdub and I both have said multiple times we know the price can be manipulated easily right now since we are still extremely early in adoption. You fail to grasp this one simple thought, which means you cannot grasp anything about bitcoin. There's no point in talking about this if you can't grasp the most basic of ideas and concepts.

OK, so both Cdub and you agree that the price can be manipulated, we're all on the same page here.  Is this the simple thought that you think I fail to grasp, therefore having zero understanding of bitcoin at all?

Just to be clear, we all agree the price can be manipulated.  I misspoke when I suggested to the contrary earlier.

[Cdub100 3,380]

58 minutes ago, GutterBoy said:

https://www.cnbc.com/2021/05/25/bitcoin-crashes-driven-by-big-margin-bets-new-crypto-banking.html

This is a recipe for disaster.  3 years from now we'll watch the documentary on how all this was allowed to happen and everyone whose lives got destroyed because of it.

THE SKY IS FALLING!!! THE SKY IS FALLING!!!!! 

[GutterBoy 2,281]

3 minutes ago, Cdub100 said:

THE SKY IS FALLING!!! THE SKY IS FALLING!!!!! 

EVERYONE BUY NOW IT'S GOING TO A MILLION

[Cdub100 3,380]

Just now, GutterBoy said:

EVERYONE BUY NOW IT'S GOING TO A MILLION

On this date last year it was 9k. So glad I bought!

[GutterBoy 2,281]

4 minutes ago, Cdub100 said:

On this date last year it was 9k. So glad I bought!

You're so awesome!

[tubby_mcgee 686]

6 minutes ago, Cdub100 said:

On this date last year it was 9k. So glad I bought!

Did you buy any that you you're not glad you bought that you're not mentioning ?  If everything was at 9k...you're sitting awesome.    And maybe you are anyways.   Maybe it does go to the moon. 

[tubby_mcgee 686]

Here is something odd.  Why would a group or anyone advertise to others "Its time to buy bitcoin".

Like why do others want me to buy Bitcoin?  They want to see me rich just like them? 

 

https://www.cnbc.com/2021/05/26/bitcoin-time-to-buy-ad-banned-by-the-uk-for-being-irresponsible.html

And my comment has nothing do about the ad being banned.  That's government focking control that they shouldn't have. 

[Cdub100 3,380]

25 minutes ago, tubby_mcgee said:

Did you buy any that you you're not glad you bought that you're not mentioning ?  If everything was at 9k...you're sitting awesome.    And maybe you are anyways.   Maybe it does go to the moon. 

Nope I only wish I bought more. My average price is $35k. Last year this time is I was focused on Ethereum though and bought bitcoin a little later in the year. Etheruem was $200 at this time.

[tubby_mcgee 686]

4 minutes ago, Cdub100 said:

Nope I only wish I bought more. My average price is $35k. Last year this time is I was focused on Ethereum though and bought bitcoin a little later in the year. Etheruem was $200 at this time.

Well Bitcoin has nudged up a bit lately.  Has to calm your nerves a bit....I would think. 

[Cdub100 3,380]

25 minutes ago, tubby_mcgee said:

Here is something odd.  Why would a group or anyone advertise to others "Its time to buy bitcoin".

Like why do others want me to buy Bitcoin?  They want to see me rich just like them? 

 

https://www.cnbc.com/2021/05/26/bitcoin-time-to-buy-ad-banned-by-the-uk-for-being-irresponsible.html

And my comment has nothing do about the ad being banned.  That's government focking control that they shouldn't have. 

There a few reasons.

1. bitcoin was created as a response to the 2008 financial crisis. People who believe in bitcoin would like to see others break away from the system that seems to fail every 10 years

2. We are still in early adoption. More people, institutions and governments in the market will stabilize the asset

3. The more people who are in the technology the better the technology will work.

4. And obviously the point skeptics love to point out the more people who buy the higher the price will go. Of course, this seems to be what people like gutter focus on. We have dozens of shows dedicated to the stock market, thousands of youtube channels and god knows how many podcasts talking about stocks and bonds. But a banner is over the line.

[frank 2,144]

17 minutes ago, tubby_mcgee said:

Here is something odd.  Why would a group or anyone advertise to others "Its time to buy bitcoin".

Like why do others want me to buy Bitcoin?  They want to see me rich just like them? 

 

https://www.cnbc.com/2021/05/26/bitcoin-time-to-buy-ad-banned-by-the-uk-for-being-irresponsible.html

And my comment has nothing do about the ad being banned.  That's government focking control that they shouldn't have. 

I have seen two small signs recently, just printed on paper and stapled to poles, that said something like “Get rich. Buy dogecoin”. I can’t figure out why anyone would put up those signs. This is a small town. They can’t seriously hope to drive up the price.

[Cdub100 3,380]

2 minutes ago, tubby_mcgee said:

Well Bitcoin has nudged up a bit lately.  Has to calm your nerves a bit....I would think. 

Even at the rock bottom of the dip, I'm up overall. I bought most of my ETH last summer for under $500, ADA at $0.16. DOT @ $5.38 and THETA at $0.82.

I also prefer owning the underlying assets and do not leverage trade. BTC dropping to 32k sucked but I wasn't worried. 

[peenie 1,690]

I have $1500 to buy crypto. What should I buy?

(Yes, I’m asking again because things have changed so drastically since I last inquired.)

[Cdub100 3,380]

5 minutes ago, peenie said:

I have $1500 to buy crypto. What should I buy?

(Yes, I’m asking again because things have changed so drastically since I last inquired.)

Where you buy will change my answer

[Frozenbeernuts 1,652]

On 5/24/2021 at 10:56 PM, nobody said:

When mining consortiums control the flow of currency, you're just replacing banks with mining consortiums.  I'm sure when Musk realizes that and throws out a tweet we'll see another leg down.

Wrong. You were baited in with a headline. Congrats

There have been mining pools for years now. Nothing has changed. Miners are incentivized to mine bitcoin because it is very lucrative. It's not very smart to manipulate the mining so that bitcoin is affected, since it means they will probably lose money themselves. Roughly 85% of the 21 million max supply has been mined, so we are only talking about the last 15% coming to market. It's a non issue. Next fud please

[Frozenbeernuts 1,652]

On 5/20/2021 at 4:13 PM, nobody said:

Doesn't matter though.  The fact that you got the loan and the debt essentially became less because of inflation is what makes the housing market and really all capital markets run.  Without that slow drip of inflation the capital markets will eventually seize up in a cycle of deflation.  Why would anyone lend money when it'll be worth more by just holding it and people will just walk away from the debt.

I wouldn't call this economics 101, but it's probably the first week of economics 102.  

Wrong again. Lenders will go back to charging higher interest rates to make sure that they are compensated for taking on the risk. You are too conditioned to the world of near 0% financing, which benefits people like Bezos and Buffet the most. They are basically able to buy up smaller businesses for free.

[Alias Detective 1,179]

3 minutes ago, Frozenbeernuts said:

Wrong. You were baited in with a headline. Congrats

There have been mining pools for years now. Nothing has changed. Miners are incentivized to mine bitcoin because it is very lucrative. It's not very smart to manipulate the mining so that bitcoin is affected, since it means they will probably lose money themselves. Roughly 85% of the 21 million max supply has been mined, so we are only talking about the last 15% coming to market. It's a non issue. Next fud please

Until bitcoin 2.0 comes out and increases the supply.

[Frozenbeernuts 1,652]

1 minute ago, Alias Detective said:

Until bitcoin 2.0 comes out and increases the supply.

That would be a hard fork even then. In that case you would have the people who do not agree with the change in protocol follow the original bitcoin. Non inflation is such an important part of why bitcoin was created, that it would be the equivalent of us American citizens all signing an agreement to give up our right to free speech. Not going to happen. In fact, It has already happened with all of the other forks that bitcoin has encountered. Far less detrimental changes have been tried to bitcoin's core characteristics and failed to gain traction.

[peenie 1,690]

C

20 minutes ago, Cdub100 said:

Where you buy will change my answer

My sister's husband is buying for me. He has all the things... He has Coinbase and Binance and other places too, whatever the names are so that he can buy those weird coins like Poo and stuff.

Also, does it matter when they put the coins in my wallet? I mean, if they put in say a piece of Bitcoin in now, will the price increase inside the wallet as the price increases outside the wallet? Or does it stay as is, meaning it won't lose value or increase in value. 

(I ask because I asked them to buy me coins last week and they haven't put the coins in my wallet yet because they said that I should wait until the price increases.)

[Frozenbeernuts 1,652]

17 minutes ago, peenie said:

C

My sister's husband is buying for me. He has all the things... He has Coinbase and Binance and other places too, whatever the names are so that he can buy those weird coins like Poo and stuff.

Also, does it matter when they put the coins in my wallet? I mean, if they put in say a piece of Bitcoin in now, will the price increase inside the wallet as the price increases outside the wallet? Or does it stay as is, meaning it won't lose value or increase in value. 

(I ask because I asked them to buy me coins last week and they haven't put the coins in my wallet yet because they said that I should wait until the price increases.)

Just like any asset you buy as an investment, where you hold custody of that asset does not matter. That would be like, should I keep my gold outside close to the earth so that it appreciates more as the price goes up? No, you keep it locked away and safe.

[Cdub100 3,380]

31 minutes ago, peenie said:

C

My sister's husband is buying for me. He has all the things... He has Coinbase and Binance and other places too, whatever the names are so that he can buy those weird coins like Poo and stuff.

Also, does it matter when they put the coins in my wallet? I mean, if they put in say a piece of Bitcoin in now, will the price increase inside the wallet as the price increases outside the wallet? Or does it stay as is, meaning it won't lose value or increase in value. 

(I ask because I asked them to buy me coins last week and they haven't put the coins in my wallet yet because they said that I should wait until the price increases.)

It doesn't matter when they point the coins in your wallet. Other than etherium the transfer fee is the same. They may have to wait for the money they deposited for you to clear before they can move the coins though. I have to do the same for my friends. The price of the coin means absolutely nothing and I'm not sure why they would tell you that.

Also, they should have told you how many coins you bought. If you bought $1500 worth of bitcoin last week that's like 0.04 BTC. Whatever you do make sure you get that minus the .00005 transfer fee. Don't let them give you $1500 of bitcoin in today's value which is like .035.

Finally, what is your goal? Are you going to hold for a while or are you looking for those 100x gains!

 

[nobody 2,038]

4 hours ago, Frozenbeernuts said:

Wrong. You were baited in with a headline. Congrats

There have been mining pools for years now. Nothing has changed. Miners are incentivized to mine bitcoin because it is very lucrative. It's not very smart to manipulate the mining so that bitcoin is affected, since it means they will probably lose money themselves. Roughly 85% of the 21 million max supply has been mined, so we are only talking about the last 15% coming to market. It's a non issue. Next fud please

I didn't read a headline.  You haven't figured out, yet, that I think this stuff out for myself?

[JustinCharge 2,397]

14 hours ago, GutterBoy said:

https://www.cnbc.com/2021/05/25/bitcoin-crashes-driven-by-big-margin-bets-new-crypto-banking.html

This is a recipe for disaster.  3 years from now we'll watch the documentary on how all this was allowed to happen and everyone whose lives got destroyed because of it.

To be fair, there is nothing the government can do to stop a buying frenzy, whether it is crypto or beanie babies, unless you want a dictatorship.

[nobody 2,038]

4 hours ago, Frozenbeernuts said:

Wrong again. Lenders will go back to charging higher interest rates to make sure that they are compensated for taking on the risk. You are too conditioned to the world of near 0% financing, which benefits people like Bezos and Buffet the most. They are basically able to buy up smaller businesses for free.

Loan terms usually don't change after the paperwork is signed unless you have an ARM or something.  Do you understand that we have about 2% inflation for the last several years?

Let's say you buy a house for $1M which you took a loan for.  Inflation trickles like it does, and now that same house costs $1.2M, and now you're also making more money in salary to match inflation.

If we didn't have inflation, eventually we would have deflation.  That house would become worth $900k and you're salary wouldn't increase, and then people would start defaulting on their mortgages.  That will definitely happen.  Your dream world of no inflation will literally kill the housing market and discourage lending making commerce more difficult.  It literally will kill the world economy. 

[peenie 1,690]

4 hours ago, Cdub100 said:

Finally, what is your goal? Are you going to hold for a while or are you looking for those 100x gains!

 

That’s the question he asked me as well.

He said that I should invest in DogeKiller and Poo if I want to make a big profit.

I decided to just stick with $1500 on Bitcoin and $1500 on Ethereum.

I have $1500 left, I respect your advice whatever it is. 
 

Here is a copy of what they did:

Date and time	May 21, 2021 10:19 PDT
Amount	0.03959489 BTC
Exchange rate	@ $37,327.54 / BTC
Subtotal	$1,477.98
Coinbase Fee	$22.02
Total	$1,500.00

Date and time	May 21, 2021 10:18 PDT
Amount	0.59575246 ETH
Exchange rate	@ $2,480.86 / ETH
Subtotal	$1,477.98
Coinbase Fee	$22.02
Total	$1,500.00

[Frozenbeernuts 1,652]

7 hours ago, nobody said:

Loan terms usually don't change after the paperwork is signed unless you have an ARM or something.  Do you understand that we have about 2% inflation for the last several years?

Let's say you buy a house for $1M which you took a loan for.  Inflation trickles like it does, and now that same house costs $1.2M, and now you're also making more money in salary to match inflation.

If we didn't have inflation, eventually we would have deflation.  That house would become worth $900k and you're salary wouldn't increase, and then people would start defaulting on their mortgages.  That will definitely happen.  Your dream world of no inflation will literally kill the housing market and discourage lending making commerce more difficult.  It literally will kill the world economy. 

The perception of making money on a house is completely wrong. People default, but its because they are morons. People get all giddy when their house value jumps a few thousand when they go to sell, but they payee far more than that in interest on the mortgage. Far more people lose money on a house. Which is fine

We need to shift our thinking to rent vs own. Renting a house nets a 0% roi. Owning a house nets 50% or more roi. So you tell me which is better? Ohh my house is worth 10k more than what I bought it for, thats a profit. No, its not. You payed more than 10k for the interest

Inflation always runs out of control. The system always becomes broken. Do you not see whats happening right now? We don't need inflation. You just think we do. Let's try this other system that doesn't have supply manipulation.

Its funny that gutter mocks the price manipulation of bitcoin. The government manipulates the price of everything else against the dollar, and not in a way that benefits us

[GutterBoy 2,281]

It's funny when blue collar workers read articles on brietbart about Bitcoin and think they know economic theory.

[peenie 1,690]

My sister explained that the coins were not able to be transferred immediately, only after they get released can she move them to the wallet. She said she can transfer them today. 

They use Trust Wallet. Is that good?