Did crypto finally crash?

[Jopious Extronimous]

I will try to answer your question earnestly. What is it?

...if you're gonna navigate the markets of cryptocurrency I would imagine you could navigate a 2 page thread.

If it's purchased in mass at a price no one can compete with, what happens?

 

[drstrangelov]

There isn't a dip every Valentine's day, but ok.

Chinese New Year is like two days after Valentine's Day this year, and on a given year, would fall close enough to apply the same logic from that article to either holiday.

 

[Jopious Extronimous]

There isn't a dip every Valentine's day, but ok.

LOL you know how I know you don't have a girlfriend....

 

[Thunderchild]

...if you're gonna navigate the markets of cryptocurrency I would imagine you could navigate a 2 page thread.

If it's purchased in mass at a price no one can compete with, what happens?

1. You can only buy what is available for sale. There is a finite amount of bitcoin in circulation at a given time.
2. What would paying way over market price for something accomplish? Why would someone want to do that?

I don't understand the question because it is nonsensical.

LOL you know how I know you don't have a girlfriend....

How does my having a girlfriend (which I do) have anything to do with the bitcoin price at Valentine's Day?

 

[Thunderchild]

Chinese New Year is like two days after Valentine's Day this year, and on a given year, would fall close enough to apply the same logic from that article to either holiday.

The point is it is a pattern. We have seen the same thing happen every year the last few years, and the sky didn't fall. I am less interested in the reason than I am people acting like this type of retracement is unheard of or signals a collapse. It could be that Xenu ordered a sell off every year or that a magical unicorn decreed it so.

 

[Der Eisbär]

100 billion dollars has already been recovered and added back to the market

"Hurr durr the sky is falling it's finally over!!!"

 

[Jopious Extronimous]

1. You can only buy what is available for sale. There is a finite amount of bitcoin in circulation at a given time.
2. What would paying way over market price for something accomplish? Why would someone want to do that?

I don't understand the question because it is nonsensical.

Glad you don't understand it. You'll feel less pain when it happens that way. And there's no way anything would ever trigger a mass sell-off that one entity could capitalize on right? And even if they could paint a scarier picture to the public and induce a full crash from an expected large dip, that totally would never happen, right? I'm sure these swings are naturally this wild and aren't being compounded by perceptions, right?

I hope you're comfortable. They really, really want you to be.

How does my having a girlfriend (which I do) have anything to do with the bitcoin price at Valentine's Day?

Losing money on valentines day.... monetary losses, on a day where you buy your girlfriend things.... you getting it yet?

 

[Jopious Extronimous]

100 billion dollars has already been recovered and added back to the market

"Hurr durr the sky is falling it's finally over!!!"

So you must be up 100,000,000,000x now!

 

[Thunderchild]

100 billion dollars has already been recovered and added back to the market

"Hurr durr the sky is falling it's finally over!!!"

I also heard that UFC is dying bro.

 

[benebox]

This is the most important rule when it comes to crypto

 

[Thunderchild]

Glad you don't understand it. You'll feel less pain when it happens that way. And there's no way anything would ever trigger a mass sell-off that one entity could capitalize on right? And even if they could paint a scarier picture to the public and induce a full crash from an expected large dip, that totally would never happen, right? I'm sure these swings are naturally this wild and aren't being compounded by perceptions, right?

I hope you're comfortable. They really, really want you to be.



Losing money on valentines day.... monetary losses, on a day where you buy your girlfriend things.... you getting it yet?

How would the entity capitalize on the mass sell off? They would be buying an asset that had dipped in price, the only way they benefit is if the price goes back up.....which also benefits anyone still holding the currency lol.

I am very comfortable because I have already made significantly more than my initial investment as profit and taken it in USD. If the markets instantly went to zero, I would have still made money.

 

[drstrangelov]

The point is it is a pattern. We have seen the same thing happen every year the last few years, and the sky didn't fall. I am less interested in the reason than I am people acting like this type of retracement is unheard of or signals a collapse. It could be that Xenu ordered a sell off every year or that a magical unicorn decreed it so.

If you don't understand why the price declined, and only recognize the relationship between date and drop off, you're running a huge risk of misreading what's happening though. You're just picking an arbitrary thing, and accepting that as explanation for losing money, that's not sound decision making.

 

[Der Eisbär]

So you must be up 100,000,000,000x now!

Uh, yeah, like totally man.

 

[Thunderchild]

If you don't understand why the price declined, and only recognize the relationship between date and drop off, you're running a huge risk of misreading what's happening though. You're just picking an arbitrary thing, and accepting that as explanation for losing money, that's not sound decision making.

Such is investing. With full information about the cause of the pattern as you propose, then you would have predictive power and that would be an arbitrage opportunity. That isn't realistic.

You are only losing money if you panic at the dip and sell. You are making the case for holding, which is what I am doing.

 

[Jopious Extronimous]

How would the entity capitalize on the mass sell off? They would be buying an asset that had dipped in price, the only way they benefit is if the price goes back up.....which also benefits anyone still holding the currency lol.

Does it seem like the intent I'm describing is making lots of money, or controlling an asset?

I am very comfortable because I have already made significantly more than my initial investment as profit and taken it in USD. If the markets instantly went to zero, I would have still made money.

Awesome, super glad for you. If I could tell you more I would, but the best advice I can give you is dump that shit and run, or be prepared to see it become worthless before it becomes what it's intended to be.

 

[Jopious Extronimous]

Uh, yeah, like totally man.

I'm a little surprised your custom title isn't 'I OWN BITCOINS'.

 

[Thunderchild]

Does it seem like the intent I'm describing is making lots of money, or controlling an asset?



Awesome, super glad for you. If I could tell you more I would, but the best advice I can give you is dump that shit and run, or be prepared to see it become worthless before it becomes what it's intended to be.

I am not sure what you are describing, but why would someone want to control an asset just for the sake of controlling it when accomplishing that would cost a huge amount of money? That's not a rational argument.

Thanks for the advice.

 

[Der Eisbär]

I am not sure what you are describing, but why would someone want to control an asset just for the sake of controlling it when accomplishing that would cost a huge amount of money? That's not a rational argument.

Thanks for the advice.

Bro the government has imminent plans to spend 200 billion dollars buying the entire bitcoin market!!! Didn't you hear?!?! They're gonna control bitcoin!!!

 

[Der Eisbär]

a little entertainment for my crypto haters and supporters alike. shit is so god damn funny

 

[Jopious Extronimous]

I am not sure what you are describing, but why would someone want to control an asset just for the sake of controlling it when accomplishing that would cost a huge amount of money? That's not a rational argument.

Thanks for the advice.

Because dick measuring contests never get driven by long-term plans and rational thought. What's the inherent value of gold compared to bitcoin? And what's the historical pursuit of it by comparison? You're telling me it would require too much money to do while(I assume from your posts) simultaneously believing money has less potential value than cryptocurrency. If you're right, there's your answer.

It was really valuable when no one knew what it was. That's why there's actually 30 year olds who did nothing but throw a few bucks at an idea, that are now millionaires. I know one, and I'm jealous and legit amazed at how much fucking money a buddy I used to do a bunch of acid with, is quietly sitting on. It's just nuts. But the fun is about to be over for a while. And not because of this dip, but because of what it is and how the world works. I see a future in it when it's applications are fully realized. But it's hit a point of notoriety that's about to trigger a change for everyone involved. Dumping now isn't as ill-advised as you might think.

Bro the government has imminent plans to spend 200 billion dollars buying the entire bitcoin market!!! Didn't you hear?!?! They're gonna control bitcoin!!!

Nah dude you're good, buy even more of it. Invest it a ton of ethereum today, and don't even bother checking it until 2021. Trust me.