Bitcoin crash coming (4 Viewers)

DrStrange said:
@hdgeno That piece does sound ominous, doesn't it?

But it is not published in the reputable financial press. The author is secret.

It is very pretty, the graphics are nice. However, the data in the graphics are unattributed.

I can't take the piece seriously. Could be a big deal. Could be jibber jabber. If it is serious, I expect the major financial press will tell us a lot more about the story.

Sadly, such major press pieces are often autopsies rather than warnings -=- DrStrange
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Darson said:
I also read the @hdgeno article then did some googling - there were news articles in 2019 and 2020 referring to the same thing. For example:
https://www.wsj.com/articles/large-...d-price-sharply-higher-study-says-11572863400
https://www.cnbc.com/2019/11/04/stu...rket-manipulator-pushed-bitcoin-to-20000.html

The simple fact for me is that I know so little about how blockchain/crypto actually functions in the real world (as opposed to how it's supposed to work) that it's a huge black box and hence why I agree with @DrStrange when he calls it speculation. Yes, there are macro economic trends that support the growth of crypto but in an unregulated market where the mechanics aren't clear, who knows what will actually happen or if your investment is secure.

I could have put $1000 in Amazon 20 years ago and I'd be a millionaire now. I also could have put the same in Bitcoin 10 years ago with the same result. The difference is that I can wrap my head around Amazon and it's business plan (even though it's changed a whole lot since the IPO), I can't quite do that for Bitcoin. Now clearly my lack of understanding may be an opportunity loss for me but I'm 100% certain that in 1 year (or 2 years or 10 years) I can sell my Amazon stock and get the cash equivalent to the share price at that time - I'm not 100% certain that I'd be able to do the same for Bitcoin.

Having said that, I'd be happy to put "some" money in Bitcoin but to me it's a punt - if it goes up 10x then great but if I lose it all, then fine also as I accept the risk.

Disclosure: I am/we are long AMZN. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in my ramble.
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I know so little about crypto, and it’s good to hear some other opinions. I came across that link in a stock thread on another forum, and since I know people here better I thought I’d see what others here thought.

Stocks make a lot more sense to me, as there are companies behind the names. I’m probably better off in stocks (and more so ETF’s), as I’m more comfortable there.
 
New treasury secretary not too fond of crypto

https://www.wired.com/story/janet-yellen-consider-limiting-cryptocurrency/

"Cryptocurrencies are a particular concern," Yellen responded. "I think many are used—at least in a transactions sense—mainly for illicit financing."

She said she wanted to "examine ways in which we can curtail their use and make sure that [money laundering] doesn't occur through those channels."
 
BukNaked36 said:
New treasury secretary not too fond of crypto

https://www.wired.com/story/janet-yellen-consider-limiting-cryptocurrency/

"Cryptocurrencies are a particular concern," Yellen responded. "I think many are used—at least in a transactions sense—mainly for illicit financing."

She said she wanted to "examine ways in which we can curtail their use and make sure that [money laundering] doesn't occur through those channels."
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Or he really loves civil asset forfeiture with no trial
 
HaRDHouSeiNC said:
Or he really loves civil asset forfeiture with no trial
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She

1611593563277.png
 
FYI: Paypal only offers the options to buy or sell it. I guess this is fine if you only want to use it for investment purposes. You cannot use it as currency via paypal. If you really want to utilize bitcoin to its full effect, you should look into a bitcoin app, like blockchain.

I use bitcoin to fund my losing ventures in online poker. It works great to deposit from online bank account to blockchain to bovada. Getting money out from bovada has not been an issue I have had to deal with thus far.
 
Finally called in. My PayPal account is technically a business account. And Crypto is only on personal accounts. Bah.
 
BGinGA said:
That says a lot about how they view future usage and application.
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I’m not sure I agree with this sentiment.

they are currently only allowing speculation with crypto on PayPal. Only buy/sale. No transfers of any kind. Don’t really even own the coins. So, based on that, there’s no need for a business account to have access at this point, IMO.

I imagine they are rolling it out piecemeal, and are working to get their ducks/contracts lined up and ironed out to start allowing payment/transfers via crypto which would then open up to business accounts. I don’t know what kind of differences/agreements come with the business accounts but it may take a good bit of legal work to make changes to that? I have no idea though.

I imagine they do plan to allow transfers in the future though (simply makes sense as it would drastically increase the population of people willing to purchase and then transfer to their personal wallets, and thus they would make much more in fees which from quick look appears to be like 2.5% :jawdrop:).

This is clear speculation on my part and obv a chance I couldn’t be farther from reality. I haven’t researched crypto from PayPal bc I think there’s more optimal options to acquire crypto if interested in that field.

Disclaimer is: I believe in some of these cryptos and have for years, but I also disagree with any of the postings (this forum or any other) that just contain xxx coin going to quadruple within 3 months, etc. I feel those hurt us towards recruiting newer/curious members to the crypto love. Itll just lead those on the fence to see it as pump posts, etc. Yes, crypto has returned serious %’s and is still not mainstream. But telling people it’s going to triple from it’s already all time high will leave a lot of people with a bad taste in their mouth. It will be true sometimes (maybe always true with GME lol?) and it happens, but i just think there are better ways to get people on board. Explaining/linking relevant articles/white papers/applications so they can do their own research is a much more sure fire way to convince people (let them convince themselves) they should hop on the ride.

I do think those high fees are absurd though and even if only want to speculate on the prices, should look for better options as others mentioned above.
 
Did anyone else get the UNI airdrop and still holding? It's no GME call, but almost a free ~$7k, if you factor in the following MIR airdrop that also came as a result of holding the UNI, which I converted to ETH, is nothing to be unhappy about. Selling seems like the smart thing to do, but I'm pretty bullish on UNI and since I'm in for $0 I'm like meh, keep holding.

UNI Chart.png
 
Payback said:
Did anyone else get the UNI airdrop and still holding? It's no GME call, but almost a free ~$7k, if you factor in the following MIR airdrop that also came as a result of holding the UNI, which I converted to ETH, is nothing to be unhappy about. Selling seems like the smart thing to do, but I'm pretty bullish on UNI and since I'm in for $0 I'm like meh, keep holding.

View attachment 623712
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Was that with Ripple?
I’ve had ripple for ages but never followed up on the UNI airdrop some of that In the past was like frozen or locked to only some obscure exchange
Should see
 
HaRDHouSeiNC said:
Was that with Ripple?
I’ve had ripple for ages but never followed up on the UNI airdrop some of that In the past was like frozen or locked to only some obscure exchange
Should see
Click to expand...
you need to interact with the uniswap protocol to qualify for the airdrop (before they launched their token).

The MIR airdrop for UNI holders was dumb because they only counted those UNI in wallet, not including those UNI in compound or other contracts
 
Josh said:
Next week, the week of 11-Dec-2017. Will eventually drop below $2000 in the coming weeks in very choppy trade. Calling it now @ $15,658.60/BTC

Or not. Also calling that as backup call.
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Ya, I didn't read all 25 pages of this thread, but popped in to see what it's all about.. I'm still waiting for this crash, and hope it happens... So I can jump in and buy a crap ton of coin for 2k ea :)

When it dropped down from 40k to 29k, I jumped in again. Wish I'd jumped in when this thread was first started... Wish I'd jumped in when my good poker buddy tried for months to get me into BTC when it was at 3k... Hindsight is 20/20...

Now at 34k...
 
wuffle said:
Doesn’t matter how much ETH you have in your wallet. Just needed to interact with the protocol before they launch their token.

1inch airdrop is now worth 2-3k too
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Also if you are using so called wallets like coinbase (for the record i do use them on a limited basis). I believe you do not get airdrops.....i assume they keep em

forgot to include paypal along with coinbase
 
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So maybe we need a new thread since it seems we are talking everything crypto here and not just the crash ..........

For those with UNI and Eth have you thought about uni-weth
 
Tesla announced this AM that in January they bought $1.5 Billion in BTC. Just don't suck out all the energy from the alts!
 
Maybe he should allow people to buy his cars with bitcoin like Lamborghini. If he truly believes in bitcoin become part of the market place

never mind i just saw they have intensions to allow it as currency at dealerships
 
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