Bitcoin

[21Jumpstreet]

Buy

[Hards Alumni]

Respectfully agree to disagree.

You're welcome to, but you're woefully out of your depth of understanding here.

[MU82]

You're welcome to, but you're woefully out of your depth of understanding here.

Teach me. How do I know whether or not it is a good time to buy Bitcoin right now?

[Hards Alumni]

Teach me. How do I know whether or not it is a good time to buy Bitcoin right now?

Same way with stocks, you get lucky. 

Explain to me why stocks jump 15% one day and drop 20% the next when nothing had fundamentally changed.  You can't.  And if you could you'd be the richest man in the world.

Bitcoin isn't a stock.  You don't seem to want to understand.  I am not in the business of teaching you something you should just google on your own.

[MU82]

Most stocks of blue chip companies don't do that, certainly nowhere near to the degree of volatility of Bitcoin.

I've done ok for my family by researching fair values and buying/selling blue-chip, stocks accordingly. Not perfect. I've made mistakes like every investor has. But I've done A-OK without doing much guessing or hoping for luck.

Again, I have no idea whether $25K, $50K, $75K or $100K is fair for Bitcoin. I admire those who have found ways to make money on it, seriously.

[rocky_warrior]

Sure.  It is a store of value and a hedge against currency issued by nations.  The USD has experienced a loss of value of about 11% since the start of this year.  I also use it as a hedge against inflation.

This statement is even more precious with your recent mocking of folks that don't understand crypto.

[Hards Alumni]

This statement is even more precious with your recent mocking of folks that don't understand crypto.

Yeah.  I'm sure you've read the articles about manipulation?  Jane Street.  Check it out if you haven't.

I never said it was bulletproof, and not based on vibes.  But the fundamentals remain.  The price has always fluctuated, and you'd be a fool to think it won't return to all time highs at some point.

Unfortunately, I do concede that the price does move a little to close to the general vibe of the US economy. 

[rocky_warrior]

I'm sure you've read the articles about manipulation? 

Honestly, I've read no articles.  And if you think it's dropping because of manipulation!?!  lol

the price does move a little to close to the general vibe of the US economy. 

It doesn't move anything like the vibes on the economy - it used to move way better than them, now it's moving way worse..  All the value of crypto has already been "mined". 

[Hards Alumni]

Honestly, I've read no articles.  And if you think it's dropping because of manipulation!?!  lol

It doesn't move anything like the vibes on the economy - it used to move way better than them, now it's moving way worse..  All the value of crypto has already been "mined". 

It's dropping because it is a leading indicator of global instability.  Large funds who snapped up Bitcoin (I do not dabble in the alt coins) on the way up are margin seeking on the way down.  Additionally, people are selling due to the belief that Bitcoin is a volatile asset (it is).  Which makes sense, since the stock market is absolutely propped up completely on vibes at this point.  Every underlying indicator is screaming SELL, so they're dropping their volatile assets first. 

I don't know what to tell you if you're not even willing to google anything about Jane Street.

https://www.wsj.com/finance/currencies/jane-street-accused-of-insider-trading-that-helped-collapse-terraform-659e6993?gaa_at=eafs&gaa_n=AWEtsqfZ12g54UKADdAsHWjEfUEU8qJm1BHhBdwOO-mEaYF0mTm5Q6HETWeP&gaa_ts=69a1d85d&gaa_sig=9dtYpDc-BOlfw25C-3n1N37pU5gYRUCZmBb4_JB3fgAc3DWHgee7ZT01LQvsR5ql68bWxYdKaKCSd-u2DnfBcw%3D%3D

https://x.com/galgitron/status/2026640282213642450

Again, my price buy in is far south of the current price, which seems to have stabilized for now.  I have full faith that 'number go up' will happen again.  It isn't my get rich scheme or anything.

[rocky_warrior]

Ok.  Believe what you want.  I shouldn't mock.

But I would recommend you take your $ and run.  Put the proceeds in an asset (even the "market") that actually has value.

[Hards Alumni]

Ok.  Believe what you want.  I shouldn't mock.

But I would recommend you take your $ and run.  Put the proceeds in an asset (even the "market") that actually has value.

Yeah, you say that all the time.  I get it.  I'm literally financially fine.

People have declared bitcoin dead hundreds of times, and yet one is still worth like 65k.