Bitcoin price suddenly surges to 3-year high

[R-T-B]

actually linked to your states tax revenue site. You are clearly ignorant on the subject and are talking our your rear.

I admitted such by saying "pretty sure." As in, I was implying I was not certain.

I just know where I shop (safeway/albertsons owned) it's a nickle and that's it. Probably tax is rolled up in there on the total or something... But that's the sales tax we do for everything and anything. It's still the store charging the fee.

I'm done with this line of discussion though because it's both fruitless and OT.

I find it very strange that Ethereum is growing at such a rate but bitcoin is staying put...

Personally I would not find it at all weird if ethers market cap exceeds bitcoin in the near future.

 

[Zach_01]

Personally I would not find it at all weird if ethers market cap exceeds bitcoin in the near future.

Could...

A few months back ETH cap was less than 20% of BTC’s. Now is around 43%.
And last ETH 24h volume is around 80% of BTC’s.

 

[trog100]

money must be flowing into etherium at a great rate of knots.. in that sense bitcoin is doing well just holding where it is..

the last six of my nicehash four hourly payouts have been over $20 dollars.. mind you thats all being fed into bitcoin.. perhaps it shouldnt be..

trog

 

[Space Lynx]

Elon Musk joked about hustling Dogecoin, went from 70 cents a coin to 38 cents over night.... wow... pathetic.

RobinHood shut off all transactions as well cause of this... but they said it was an "outage" I've said it once and I'll say it again, crypto is kind of a scam, where the rich have fun with the poor because of no regulations.

 

[Zach_01]

Scam? Because of dip? Those are opportunities to buy more, not sell. If people don't understand it already and are in for quick profits, or they don't like occasional wallet shrinks then they should stay out of it or stay and learn by mistakes.
It should be affordable mistakes and not betting their lives upon it. This is a "rule" exist from decades.

 

[Space Lynx]

Scam? Because of dip? Those are opportunities to buy more, not sell. If people don't understand it already and are in for quick profits, or they don't like occasional wallet shrinks then they should stay out of it or stay and learn by mistakes.
It should be affordable mistakes and not betting their lives upon it. This is a "rule" exist from decades.

Go buy some dogecoin then

 

[trog100]

Elon Musk joked about hustling Dogecoin, went from 70 cents a coin to 38 cents over night.... wow... pathetic.

RobinHood shut off all transactions as well cause of this... but they said it was an "outage" I've said it once and I'll say it again, crypto is kind of a scam, where the rich have fun with the poor because of no regulations.

its time you wized up and realized that regulations are made by the rich to suit the rich..

the doggy meme coin has just taken a big hit.. worse in 24 hours on coinranking..

trog

 

[Metroid]

The bubble is about to pop anytime soon whale will start taking rpofits then everything will go to hehell, i still think btc will go to 79k then back to 10k, there will be a last bulltrap before everything goes to hehell.

 

[Space Lynx]

The bubble is about to pop anytime soon whale will start taking rpofits then everything will go to hehell, i still think btc will go to 79k then back to 10k, there will be a last bulltrap before everything goes to hehell.

Yellen and IMF have been silent for awhile now, I expect them to work together on something soon. Heavy taxes, and any trade deals with United States will call for the other country in the trade deal to also tax crypto heavily. I think this will happen, when fiat sees a new way to make extra money they tend to go for it.

its time you wized up and realized that regulations are made by the rich to suit the rich..

the doggy meme coin has just taken a big hit.. worse in 24 hours on coinranking..

trog

I get that. but there is also regulation to help prevent it at a blatant/brutal level. crypto has nothing preventing that level of it. I would say there are different levels of scam... dogecoin is perhaps the top.

 

[trog100]

The bubble is about to pop anytime soon whale will start taking rpofits then everything will go to hehell, i still think btc will go to 79k then back to 10k, there will be a last bulltrap before everything goes to hehell.

you my friend are just a crypto troll.. now if you were talking about the stock and bond markets i might agree with you.. he he

trog

ps.. the other thing some americans need to wize up on is.. the US aint the top dog any more.. china is.. soon china will stop working hard and swapping what they make for the soon to be worthless US dollars.. when that happens top dog status will be pretty obvious..

 

[freeagent]

Still kinda kicking myself for not having the foresight to get into it sooner. Now that I want to test the waters, the cost of admission is to high for this guy. Bummer dude.. I like money as much as the next guy.

 

[trog100]

Still kinda kicking myself for not having the foresight to get into it sooner. Now that I want to test the waters, the cost of admission is to high for this guy. Bummer dude.. I like money as much as the next guy.

yep the cost of entry has gone up somewhat..

trog

 

[moproblems99]

Still kinda kicking myself for not having the foresight to get into it sooner. Now that I want to test the waters, the cost of admission is to high for this guy. Bummer dude.. I like money as much as the next guy.

If you were closer I would part with with my 4 x 580 rig quite cheap.

 

[RandallFlagg]

Yellen and IMF have been silent for awhile now, I expect them to work together on something soon. Heavy taxes, and any trade deals with United States will call for the other country in the trade deal to also tax crypto heavily. I think this will happen, when fiat sees a new way to make extra money they tend to go for it.

Pretty sure 2021-2022 will go down as a couple of the worst years in history for markets of all kinds including crypto, with a possible exception of commodities. I think Powell wants out fast. Yellen's crypto problem will likely resolve itself.

Watch the NASDAQ next week. I think if it breaks below 12400, the bull market is over, and everything else will follow - including crypto. I'm pretty sure it's going down hard next week, 12400 is about 1300 points below current level. I think this might start late Monday, or perhaps Tuesday. Same thing will happen to bitcoin in short order.

As far as cryptocurrency long term though - I think Crypto has a real place in the future as a form of official fiat for many reasons. China has apparently figured this out. This may be a harbinger for the end of the dollar hegemony. That will take a while, but I wouldn't be surprised to see a history book in 50 years point to this as the beginning of the end of the dollar reserve system :

China Creates Its Own Digital Currency, a First for Major Economy

A cyber yuan stands to give Beijing power to track spending in real time, plus money unlinked to the global financial system dominated by the dollar. It also could soften the bite of U.S. sanctions.

www.wsj.com

 

[Vya Domus]

Because of dip? Those are opportunities to buy more, not sell. If people don't understand it already and are in for quick profits, or they don't like occasional wallet shrinks then they should stay out of it or stay and learn by mistakes.

Huh ?

People that buy into something just because there was a dip are morons that are bound to lose a lot, short term as well as long term, because that implies they think everything will have unrestricted growth forever. While investors of traditional assets have some sort of clue as to the tact that infinite growth isn't possible (that's debatable, lot's of morons there as well), crypto enthusiasts clearly don't. Just look at the shitshow that doge is, people unironically still think it will hit 10$ and all sorts of insane predictions that are incompatible with the real world.

 

[trog100]

Huh ?

People that buy into something just because there was a dip are morons that are bound to lose a lot, short term as well as long term, because that implies they think everything will have unrestricted growth forever. While investors of traditional assets have some sort of clue as to the tact that infinite growth isn't possible (that's debatable, lot's of morons there as well), crypto enthusiasts clearly don't. Just look at the shitshow that doge is, people unironically still think it will hit 10$ and all sorts of insane predictions that are incompatible with the real world.

people who buy the dip dont think forever.. they just know that in a bull market buying the dip aint a bad thing to be doing.. in a bear market things would be different..

having said that if i had left my miners running during the last three year slump period i would now have quite a nice gain to show for it.. maybe a 100K or something like that.. appearing to earn bugger all in dollar terms but mining coin which is now worth a lot..

trog

 

[R0H1T]

people unironically still think it will hit 10$ and all sorts of insane predictions that are incompatible with the real world.

It might still do that, but all it'll prove is that there's at least 15x more idgits on earth than previously imagined

 

[RandallFlagg]

Huh ?

People that buy into something just because there was a dip are morons that are bound to lose a lot, short term as well as long term, because that implies they think everything will have unrestricted growth forever. While investors of traditional assets have some sort of clue as to the tact that infinite growth isn't possible (that's debatable, lot's of morons there as well), crypto enthusiasts clearly don't. Just look at the shitshow that doge is, people unironically still think it will hit 10$ and all sorts of insane predictions that are incompatible with the real world.

Exactly. People forget the role of psychology.

Imagine, it's 1996 and you're 40 years old. You're investing in stocks, relatively conservatively by investing in an index ETF - not trying to stock pick. And you're not into that frothy NASDAQ stuff, you're investing in the much broader and less volatile S&P 500. The shares appreciate rapidly. You are dollar cost averaging by investing a little at a time each month. By 1999 you are 44 and your retirement at 55 seems secure. Your stocks have gone up more than double. You might even be able to retire earlier than 55.

Then this happens.

Now it is 2009, and you are 53 years old. You have been doing this for 13 years. Dollar cost averaging has failed. Your before inflation returns are negative. After inflation, you've been decimated. You've lost your job, which is hard to replace at this age. The news says the financial system may collapse. Gold and commodities are shooting up like a rocket, inflation is ticking up, and there are more wars, and rumors of wars...

It will be around 2012 before you start getting ahead again in non-inflation adjusted numbers, assuming you never sold and you dollar cost averaged over time, if you can hold through all of that. It's highly unlikely one would hold through that.

There are actually only relatively short periods of time where the markets really beat inflation. Take a look.

 

[moproblems99]

You either buy into crypto because you believe in decentralized dream or you are in it for quick bucks. There isn't much in the middle or you're probably doing it wrong.

 

[R-T-B]

RobinHood shut off all transactions as well cause of this... but they said it was an "outage" I've said it once and I'll say it again, crypto is kind of a scam,

No, RobinHood is. They did the same thing with GME stock.

People that buy into something just because there was a dip are morons that are bound to lose a lot,

Cryptos history disagrees with that honestly. And it's not about believing in unlimited growth. It's about believing there is massive room for growth still. And there certainly is.

 

[Zach_01]

Well, I can’t convince (or proof to) anyone that blockchain and crypto in general are only in the beginning of their growing route. And I can’t suggest to anyone to dive into it. I didn’t do that with anyone, relatives or friends.

Future shall reveal the truth.

 

[trog100]

i think its all got too big to keep following these three year boom and bust cycles.. i rode thru the last bust and its paying me handsomely now..

most folks sell at the slightest sign of a downward trend.. i just forgot about it.. most folks cant do this because the money is important to them.. its not to me i am happy with the money i have and dont really need any more.. the way i look at it now is.. it might make the grand kids rich in twenty years time..

having said that a lot can happen in twenty years.. he he

trog

 

[sepheronx]

I put little into buying coins. I use my GPUs to earn me BTC and then others so I can sell.

I have some investments in altcoins. Lost some and gained some. I always knew that doge was a joke and surprised people kinda went with it. But those who did early on, struck gold now.

I aim at more stable coins like ADA. Also purchased Crypto.com coin for small amounts. But got most of it in ETH, BTC and ETC. ADA is the latest one I'm investing in.

 

[R-T-B]

Well, I can’t convince (or proof to) anyone that blockchain and crypto in general are only in the beginning of their growing route. And I can’t suggest to anyone to dive into it. I didn’t do that with anyone, relatives or friends.

Future shall reveal the truth.

It's all a betting game and none of us are honestly qualified to be giving advice beyond our personal investing preferences.

 

[trog100]

It's all a betting game and none of us are honestly qualified to be giving advice beyond our personal investing preferences.

true mr frog but some of us know a little more about how things work than others.. he he

trog