@derryb said:
I confess, I have been making money with cryptos, specifically ETH.
And with impeccable timing... routinely announcing that you recently bought within pennies of a bottom and that you just sold everything within a few bucks of an all time high, before reloading at the next low 😂. Please give us a heads up right before you are making these moves so we can all benefit!
Yeah we always get alerted to these brilliant trades after the fact. A true internet legendz.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
@derryb said:
I confess, I have been making money with cryptos, specifically ETH.
And with impeccable timing... routinely announcing that you recently bought within pennies of a bottom and that you just sold everything within a few bucks of an all time high, before reloading at the next low 😂. Please give us a heads up right before you are making these moves so we can all benefit!
Yeah we always get alerted to these brilliant trades after the fact. A true internet legendz.
''Brillant trades only become brilliant after the fact.'' (Captain Obvious, 1800's) lol,
Stefan Thomas lost his password for his 7,002 bitcoins. He was paid in bitcoin when bitcoin was only worth a few dollars. He stored them in a digital wallet. He had 10 tries to get the password correct. After that the password will be erased forever. His pass word was stored in Ironkey. No one can break into Ironkey. Not even the Ironkey conpany itself.
Got Gold?
Robinhood screwed everyone over on the GME meme stock. They only allowed selling and no buying on GME. It made the GME stock drop artifically.
I would never use robinhood, I use Ameritrade. I still got screwed because what robinhood did made the GME stock drop like a rock.
Turns out Robinhood didn't have the funds to cover and they really work for the big boy hedge funds.
Congratulations derryb you have done awesome with bitcoin. You should be very proud of yourself. You deserve all the money you have made. I really mean that...very cool.
As a "meme" stock GME made it moves because of social media. Unless my shoe shine guy agrees I would not invest in stocks based on social media promotion. While money can be made with meme investments, much more can be lost. Also, ETH and not BTC is my crypto weapon of choice.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@derryb said:
As a "meme" stock GME made it moves because of social media. Unless my shoe shine guy agrees I would not invest in stocks based on social media promotion.
I bought at $8 and sold at $260. I did it because....
We will soon know if the year-end sell off in cryptos was simply a tax play by the whales. I expect they will now be buying back in large quantities at the lower prices.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@derryb said:
We will soon know if the year-end sell off in cryptos was simply a tax play by the whales. I expect they will now be buying back in large quantities at the lower prices.
Really? Well, they better get bussy......bc down to $43k
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
@derryb said:
We will soon know if the year-end sell off in cryptos was simply a tax play by the whales. I expect they will now be buying back in large quantities at the lower prices.
Really? Well, they better get bussy......bc down to $43k
those paying attention sold the recent high and are waiting on the next low. I'm going back into ETH when BTC hits around 41K. That makes ETH 3100 a good reentry point.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@derryb said:
We will soon know if the year-end sell off in cryptos was simply a tax play by the whales. I expect they will now be buying back in large quantities at the lower prices.
Really? Well, they better get bussy......bc down to $43k
those paying attention sold the recent high and are waiting on the next low. I'm going back into ETH when BTC hits around 41K. That makes ETH 3100 a good reentry point.
Only if they sold. You are forgetting human natures worst enemy...the greed factor. "a selfish and excessive desire for more of something (such as money) than is needed motivated by naked ambition and greed."
corrected for misspelled "greed"
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
There are 'buy and hold' crypto players and there are 'buy and sell' players. I find buying and selling cryptos more profitable. I end up with more total coins after each round trip. Number of coins at that final sell are is what counts.
There's currently a dash for cash in many asset classes as a couple more chickens return to the coup. short sighted Investors only see them while when they land. this is what will provide volatility (profit opportunity) to many markets.
Look for home prices to take a hit.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@derryb said:
It's not rocket science - buy low sell high, works for me. You figure the low's and high's, i'm not gonna do it for you.
Freebie: Will be shopping for more ETH @ <3800. You might also keep an eye on UVXY.
At the time of your above post from 20 Dec, ETH at around $3900 was already flirting with $3800, and consistently under $3800 from 28 Dec through 4 Jan. If you were shopping for "more" ETH at that point, it means you missed selling anywhere near the Nov highs around $4,600.
Also, keeping an eye on UVXY (leveraged. VIX ETF for those that don't care to look it up), it was $19 on 20 Dec, and is under $13 today, a 33% decline in just 2 weeks. Are you still holding? You would have to be because with this decaying fund at ATL, there has been no opportunity to sell high.
Buy low, sell high, whether or not you want to believe it is rocket science.
@derryb said:
It's not rocket science - buy low sell high, works for me. You figure the low's and high's, i'm not gonna do it for you.
Freebie: Will be shopping for more ETH @ <3800. You might also keep an eye on UVXY.
At the time of your above post from 20 Dec, ETH at around $3900 was already flirting with $3800, and consistently under $3800 from 28 Dec through 4 Jan. If you were shopping for "more" ETH at that point, it means you missed selling anywhere near the Nov highs around $4,600.
How do you know I didn't collect on the Nov. highs and then buy some back cheaper. I measure my success with ETH in "coins" and not dollars. Currently my cash balance will, at the right moment, buy more coins than I have ever held. As I said in an earlier post "I find buying and selling cryptos more profitable (than holding). I end up with more total coins after each round trip. Number of coins at that final sell are is what counts."
Also, keeping an eye on UVXY (leveraged. VIX ETF for those that don't care to look it up), it was $19 on 20 Dec, and is under $13 today, a 33% decline in just 2 weeks. Are you still holding? You would have to be because with this decaying fund at ATL, there has been no opportunity to sell high.
As I said "keep an eye on UVXY." Why? It is the single best play when equities are in their coming crash mode. I still hold and am buying as the sheep continue to pile into equities. This chicken will come home to roost. Patience is almost as important as timing. Like PMs, UVXY is a long play on declining market confidence. I prefer to to buy when everyone else is selling and to sell when everyone else is buying.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@derryb said:
It's not rocket science - buy low sell high, works for me. You figure the low's and high's, i'm not gonna do it for you.
Freebie: Will be shopping for more ETH @ <3800. You might also keep an eye on UVXY.
At the time of your above post from 20 Dec, ETH at around $3900 was already flirting with $3800, and consistently under $3800 from 28 Dec through 4 Jan. If you were shopping for "more" ETH at that point, it means you missed selling anywhere near the Nov highs around $4,600.
How do you know I didn't collect on the Nov. highs and then buy some back cheaper. I measure my success with ETH in "coins" and not dollars. Currently my cash balance will, at the right moment, buy more coins than I have ever held. As I said in an earlier post "I find buying and selling cryptos more profitable (than holding). I end up with more total coins after each round trip. Number of coins at that final sell are is what counts."
So buy 10 coins at 4000 for 40,000. Sell 10 coins at 3600 for 36000. Then biy 12 coins at 3000 for 36000. Sell 12 coins at 2500 for 30000. Then buy 15 coins at 2000 for 30000. Sell 15 coins at 1000 for 15,000. Buy 150 coins at 100 for 15000. Sell 150 coins at 10 for 1500. Buy 1000 at $1.50 for 1500. Sell 1500 coins at 0.50 for 750. Buy 75 000 coins at 1c. You turned 10 coins into 75,000!!! Whoohoo!!! Youre a winner. Lol.
I added ETH, BTC and DOGE today. Heh even added a bit of gutter (the paper slv kind) Held back some powder just in case they dip lower. Thanks for the gift! RGDS!!!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Financial assets, including cryptos, are simply responding to planned FED tightening. Likely just a "when Merrill Lynch speaks everyone listens" moment that will reverse itself when either the FED fails at tightening or reverses itself on tightening.
The FED is notorious for changing and even reversing course when Mama Market responds negatively to FED mouthspeak. Will it be different this time? FED is likely to initiate a small amount of tightening to attempt to save face but look for any tightening to be eventually reversed. After all, this is their modus operandi as the corner they have painted themselves into is getting smaller. How much of that corner will be left after this next paint application remains to be seen.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
You can all blame the crypto crash on me. I only finally dipped my toe into eth when the price crashed in may '21. Bought 2 for 2500, sold after it came off the high (too late) around 4100. Eth has been sitting around that 3800 zone for a while so I thought I might buy 1 again in case it makes a big move. if you read anything at all about cryptos basically everything out there said eth was getting ready to explode.
so I bought one at 3800 and explode it did - down. I bought literally an hour before the price started crashing.
Sorry!
I held onto it because I don't know what I'm doing.
This is the one big reason for bitcion's drop.
The Kazakhstan unrest being called a black swan event. The talking heads believe this could be a major problem for bitcoin and oil prices.
Kazakhstan is the 2nd biggest country for bitcoin mining!!!
The internet has been shut down for days. So NO bitcoin mining can or will happen in Kazakhstan.
Shoot to kill orders have been invoked. Lots of dead police and officals.
@TPGS said:
This is the one big reason for bitcion's drop.
The Kazakhstan unrest being called a black swan event. The talking heads believe this could be a major problem for bitcoin and oil prices.
Kazakhstan is the 2nd biggest country for bitcoin mining!!!
The internet has been shut down for days. So NO bitcoin mining can or will happen in Kazakhstan.
Shoot to kill orders have been invoked. Lots of dead police and officals.
I admit ignorance on the 'mining' process, so humor me...
Is the 'mining' the process of validating transactions or is that a separate operation? If the same, then what impact would this have on bitcoin being used in transactions?
If there are fewer bitcoins being mined, wouldn't that make existing bitcoins more valuable?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
@PerryHall said:
If there are fewer bitcoins being mined, wouldn't that make existing bitcoins more valuable?
Yes. but no. jmo It shows one of bitcoins true weakness...volatility.
edited to add. What if we have a black swan event is the USA. And the internet is cut off like in Kazakhstan. You better believe the Goverment would sever cell phones and internet conections if stuff gets squirrely here in USA.
Make the trouble makers and everyone else use carrier pigeons to communicate.
Cashing in your bitcoin would be stopped cold. People would panic sell at their first chance. Bitcoin would drop like a platinum rock.
@TPGS said:
This is the one big reason for bitcion's drop.
The Kazakhstan unrest being called a black swan event. The talking heads believe this could be a major problem for bitcoin and oil prices.
Kazakhstan is the 2nd biggest country for bitcoin mining!!!
The internet has been shut down for days. So NO bitcoin mining can or will happen in Kazakhstan.
Shoot to kill orders have been invoked. Lots of dead police and officals.
I admit ignorance on the 'mining' process, so humor me...
Is the 'mining' the process of validating transactions or is that a separate operation? If the same, then what impact would this have on bitcoin being used in transactions?
Mining is creating bitcoin digitally. Takes a shit load of power and I mean a shit load.
@PerryHall said:
If there are fewer bitcoins being mined, wouldn't that make existing bitcoins more valuable?
Yes. but no. jmo It shows one of bitcoins true weakness...volatility.
I like the volatility.
the fact that cryptos are being hit pretty much across the board I doubt Kazakhstan unrest has little to do with. More likely players in many assets are starting to wake up and smell the FED coffee. Where will their money go?
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@PerryHall said:
If there are fewer bitcoins being mined, wouldn't that make existing bitcoins more valuable?
Yes. but no. jmo It shows one of bitcoins true weakness...volatility.
I like the volatility.
the fact that cryptos are being hit pretty much across the board I doubt Kazakhstan unrest has little to do with. More likely players in many assets are starting to wake up and smell the FED coffee. Where will their money go?
Pretty sure most in Kazakhstan would trade bitcoin for gold right now. Bitcoin is 100% useless without the interwebs.
@PerryHall said:
If there are fewer bitcoins being mined, wouldn't that make existing bitcoins more valuable?
Yes. but no. jmo It shows one of bitcoins true weakness...volatility.
I like the volatility.
the fact that cryptos are being hit pretty much across the board I doubt Kazakhstan unrest has little to do with. More likely players in many assets are starting to wake up and smell the FED coffee. Where will their money go?
Pretty sure most in Kazakhstan would trade bitcoin for gold right now. Bitcoin is 100% useless without the interwebs.
agree, all I'm saying is I doubt the unrest is affecting worldwide crypto prices. It's the movement of the FED mouth.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Also, keeping an eye on UVXY (leveraged. VIX ETF for those that don't care to look it up), it was $19 on 20 Dec, and is under $13 today, a 33% decline in just 2 weeks. Are you still holding? You would have to be because with this decaying fund at ATL, there has been no opportunity to sell high.
As I said "keep an eye on UVXY." Why? It is the single best play when equities are in their coming crash mode. I still hold and am buying as the sheep continue to pile into equities. This chicken will come home to roost. Patience is almost as important as timing. Like PMs, UVXY is a long play on declining market confidence. I prefer to to buy when everyone else is selling and to sell when everyone else is buying.
Harry Dent predicts a 90% drop in stocks in 2022 presenting a later buying opportunity of a lifetime. It's a bold call, but If he is only half right UVXY will see many, many multiples of a 90% gain. And if he's 100% correct, UVXY will be the play of a lifetime.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@TPGS said:
This is the one big reason for bitcion's drop.
The Kazakhstan unrest being called a black swan event. The talking heads believe this could be a major problem for bitcoin and oil prices.
Kazakhstan is the 2nd biggest country for bitcoin mining!!!
The internet has been shut down for days. So NO bitcoin mining can or will happen in Kazakhstan.
Shoot to kill orders have been invoked. Lots of dead police and officals.
I would call this more of a tufted titmouse than a black swan.
@jmski52 said:
I'll say it, " a leveraged hand is a weak hand" especially if you aren't an insider.
Of course if your insider information is good, no worries. Just ask Jay Powell.
There's gambling with your own money, and there's gambling with borrowed money.
Financial analysis no longer applies unless you are on the approved list.
Yes....all those folk who buy a house with a mortgage are on the approved list....and use leverage. Millions of them every year. 😉
Back to bitcoin....its been riding the 200dma, does its hold and rally, break and selloff, or continue to ride along? Next 2 month timeframe.
Did you hear about the guy who lost his job and then he could no longer afford his mortgage payments, so he had to sell his house at a loss or face foreclosure ?
Or how about the other guy who leveraged his "investments" and was forced into liquidation of his positions at a loss when he got the dreaded "margin call" ?
Both are examples of "weak hands" that wouldn't have been weak without the leveraging involved.
A leveraged hand is a weak hand.
Banks and institutional traders like being up against weak hands.
Also, keeping an eye on UVXY (leveraged. VIX ETF for those that don't care to look it up), it was $19 on 20 Dec, and is under $13 today, a 33% decline in just 2 weeks. Are you still holding? You would have to be because with this decaying fund at ATL, there has been no opportunity to sell high.
As I said "keep an eye on UVXY." Why? It is the single best play when equities are in their coming crash mode. I still hold and am buying as the sheep continue to pile into equities. This chicken will come home to roost. Patience is almost as important as timing. Like PMs, UVXY is a long play on declining market confidence. I prefer to to buy when everyone else is selling and to sell when everyone else is buying.
Harry Dent predicts a 90% drop in stocks in 2022 presenting a later buying opportunity of a lifetime. It's a bold call, but If he is only half right UVXY will see many, many multiples of a 90% gain. And if he's 100% correct, UVXY will be the play of a lifetime.
Harry Dent has been calling for the end of the world for at least 2 decades. He's a quack doom and gloom salesman. Amazing he can continue to make a living being wrong 100% of the time.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
@jmski52 said:
I'll say it, " a leveraged hand is a weak hand" especially if you aren't an insider.
Of course if your insider information is good, no worries. Just ask Jay Powell.
There's gambling with your own money, and there's gambling with borrowed money.
Financial analysis no longer applies unless you are on the approved list.
Yes....all those folk who buy a house with a mortgage are on the approved list....and use leverage. Millions of them every year. 😉
Back to bitcoin....its been riding the 200dma, does its hold and rally, break and selloff, or continue to ride along? Next 2 month timeframe.
Did you hear about the guy who lost his job and then he could no longer afford his mortgage payments, so he had to sell his house at a loss or face foreclosure ?
Or how about the other guy who leveraged his "investments" and was forced into liquidation of his positions at a loss when he got the dreaded "margin call" ?
Both are examples of "weak hands" that wouldn't have been weak without the leveraging involved.
A leveraged hand is a weak hand.
Banks and institutional traders like being up against weak hands.
2 guys? Thats it?
Those guys were weak to begin with. Their failure was not the doings of others. They made their decisions. One didnt have the skillset to obtain another job. The other didnt do proper research and was controlled by emotions.
We could go in and on over "what about the guy", as their is always someone who fails. Its good to have an understanding of "what could go wrong", but moreso to balance that with "what could go right". Constant attention to the wrongs will guarantee failure.
Why do you guys always focus on negativity?
Why do you guys never consider personal responsibility?
Dont be weak. Dont be a dummy. Use your knowledge and stay within your realm.
Banks and institutional traders like being up against weak hands.
Well, only the banks not not holding the promises/debt of the weak hands.
Banks won't make the '08 mistake again - all that crap debt has been sold to retail investors that are sitting back thinking they are skinning the fat hog with their outsized portfolios and newly found home equity...
@TPGS said:
This is the one big reason for bitcion's drop.
The Kazakhstan unrest being called a black swan event. The talking heads believe this could be a major problem for bitcoin and oil prices.
Kazakhstan is the 2nd biggest country for bitcoin mining!!!
The internet has been shut down for days. So NO bitcoin mining can or will happen in Kazakhstan.
Shoot to kill orders have been invoked. Lots of dead police and officals.
I would call this more of a tufted titmouse than a black swan.
Took this picture of a tuffed titmouse out my back window just now. What a beautiful day. Life is good.
Maybe if the tufted titmouse is the size of king kong.
@jmski52 said:
I'll say it, " a leveraged hand is a weak hand" especially if you aren't an insider.
Of course if your insider information is good, no worries. Just ask Jay Powell.
There's gambling with your own money, and there's gambling with borrowed money.
Financial analysis no longer applies unless you are on the approved list.
Yes....all those folk who buy a house with a mortgage are on the approved list....and use leverage. Millions of them every year. 😉
Back to bitcoin....its been riding the 200dma, does its hold and rally, break and selloff, or continue to ride along? Next 2 month timeframe.
Did you hear about the guy who lost his job and then he could no longer afford his mortgage payments, so he had to sell his house at a loss or face foreclosure ?
Or how about the other guy who leveraged his "investments" and was forced into liquidation of his positions at a loss when he got the dreaded "margin call" ?
Both are examples of "weak hands" that wouldn't have been weak without the leveraging involved.
A leveraged hand is a weak hand.
Banks and institutional traders like being up against weak hands.
2 guys? Thats it?
Those guys were weak to begin with. Their failure was not the doings of others. They made their decisions. One didnt have the skillset to obtain another job. The other didnt do proper research and was controlled by emotions.
We could go in and on over "what about the guy", as their is always someone who fails. Its good to have an understanding of "what could go wrong", but moreso to balance that with "what could go right". Constant attention to the wrongs will guarantee failure.
Why do you guys always focus on negativity?
Why do you guys never consider personal responsibility?
Dont be weak. Dont be a dummy. Use your knowledge and stay within your realm.
So, apparently, you did not know about those "two guys" (or the multitude of other similar people) ? I'm not surprised.
"Leverage" is a form of debt. Debt makes a hand weak. "Personal responsibility" means staying out of debt.
I will concede that there is good debt but only when it is used for a responsible business capital investment, a personal residence or a personal vehicle. That is no excuse to finance beyond your reasonable means to repay. Buying a $50K vehicle on a $40K salary makes no sense when a reliable used car can be financed for much less. With the ability to borrow money comes financial responsibility.
Anyone paying 15+% on credit card debt and at the same time financing a $50K vehicle clearly does not possess financial responsibility, but is dearly loved by the credit card company. I thank such spenders for making it possible for me to enjoy the convenience of a credit card without having to pay any interest or fees.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
those paying attention sold the recent high and are waiting on the next low. I'm going back into ETH when BTC hits around 41K. That makes ETH 3100 a good reentry point.
We are at the low's I was looking for. Time for me to start easing back into ETH until I see enough strength that once again calls for "all in."
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
those paying attention sold the recent high and are waiting on the next low. I'm going back into ETH when BTC hits around 41K. That makes ETH 3100 a good reentry point.
We are at the low's I was looking for. Time for me to start easing back into ETH until I see enough strength that once again calls for "all in."
You've been "all in" for decades. He's a J̵u̵k̵e̵ ̵b̵o̵x̵ internet investment perfect timing hero. lol
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Comments
It's not rocket science - buy low sell high, works for me. You figure the low's and high's, i'm not gonna do it for you.
Freebie: Will be shopping for more ETH @ <3800. You might also keep an eye on UVXY.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
A leveraged hand is a weak hand.
Said no one ever.
Knowledge is the enemy of fear
Yeah we always get alerted to these brilliant trades after the fact. A true internet legendz.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
''Brillant trades only become brilliant after the fact.'' (Captain Obvious, 1800's) lol,
I'll say it, " a leveraged hand is a weak hand" especially if you aren't an insider.
Of course if your insider information is good, no worries. Just ask Jay Powell.
There's gambling with your own money, and there's gambling with borrowed money.
Financial analysis no longer applies unless you are on the approved list.
I knew it would happen.
Yes....all those folk who buy a house with a mortgage are on the approved list....and use leverage. Millions of them every year. 😉
Back to bitcoin....its been riding the 200dma, does its hold and rally, break and selloff, or continue to ride along? Next 2 month timeframe.
Knowledge is the enemy of fear
Stefan Thomas lost his password for his 7,002 bitcoins. He was paid in bitcoin when bitcoin was only worth a few dollars. He stored them in a digital wallet. He had 10 tries to get the password correct. After that the password will be erased forever. His pass word was stored in Ironkey. No one can break into Ironkey. Not even the Ironkey conpany itself.
Got Gold?
got gold and a Robinhood password.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Robinhood screwed everyone over on the GME meme stock. They only allowed selling and no buying on GME. It made the GME stock drop artifically.
I would never use robinhood, I use Ameritrade. I still got screwed because what robinhood did made the GME stock drop like a rock.
Turns out Robinhood didn't have the funds to cover and they really work for the big boy hedge funds.
Congratulations derryb you have done awesome with bitcoin. You should be very proud of yourself. You deserve all the money you have made. I really mean that...very cool.
As a "meme" stock GME made it moves because of social media. Unless my shoe shine guy agrees I would not invest in stocks based on social media promotion. While money can be made with meme investments, much more can be lost. Also, ETH and not BTC is my crypto weapon of choice.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
I bought at $8 and sold at $260. I did it because....
Money is the only reason to sell.
Like I said, while money can be made with meme (socially promoted) stocks, much more can be lost. Social media favor can turn quicker than a corner.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
We will soon know if the year-end sell off in cryptos was simply a tax play by the whales. I expect they will now be buying back in large quantities at the lower prices.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Really? Well, they better get bussy......bc down to $43k
Your target price is almost there...
Personally, I would stay away from all crypto currency.
All of them taking a beating the past 2 days.
those paying attention sold the recent high and are waiting on the next low. I'm going back into ETH when BTC hits around 41K. That makes ETH 3100 a good reentry point.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Only if they sold. You are forgetting human natures worst enemy...the greed factor. "a selfish and excessive desire for more of something (such as money) than is needed motivated by naked ambition and greed."
corrected for misspelled "greed"
There are 'buy and hold' crypto players and there are 'buy and sell' players. I find buying and selling cryptos more profitable. I end up with more total coins after each round trip. Number of coins at that final sell are is what counts.
There's currently a dash for cash in many asset classes as a couple more chickens return to the coup. short sighted Investors only see them while when they land. this is what will provide volatility (profit opportunity) to many markets.
Look for home prices to take a hit.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
At the time of your above post from 20 Dec, ETH at around $3900 was already flirting with $3800, and consistently under $3800 from 28 Dec through 4 Jan. If you were shopping for "more" ETH at that point, it means you missed selling anywhere near the Nov highs around $4,600.
Also, keeping an eye on UVXY (leveraged. VIX ETF for those that don't care to look it up), it was $19 on 20 Dec, and is under $13 today, a 33% decline in just 2 weeks. Are you still holding? You would have to be because with this decaying fund at ATL, there has been no opportunity to sell high.
Buy low, sell high, whether or not you want to believe it is rocket science.
How do you know I didn't collect on the Nov. highs and then buy some back cheaper. I measure my success with ETH in "coins" and not dollars. Currently my cash balance will, at the right moment, buy more coins than I have ever held. As I said in an earlier post "I find buying and selling cryptos more profitable (than holding). I end up with more total coins after each round trip. Number of coins at that final sell are is what counts."
As I said "keep an eye on UVXY." Why? It is the single best play when equities are in their coming crash mode. I still hold and am buying as the sheep continue to pile into equities. This chicken will come home to roost. Patience is almost as important as timing. Like PMs, UVXY is a long play on declining market confidence. I prefer to to buy when everyone else is selling and to sell when everyone else is buying.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
So buy 10 coins at 4000 for 40,000. Sell 10 coins at 3600 for 36000. Then biy 12 coins at 3000 for 36000. Sell 12 coins at 2500 for 30000. Then buy 15 coins at 2000 for 30000. Sell 15 coins at 1000 for 15,000. Buy 150 coins at 100 for 15000. Sell 150 coins at 10 for 1500. Buy 1000 at $1.50 for 1500. Sell 1500 coins at 0.50 for 750. Buy 75 000 coins at 1c. You turned 10 coins into 75,000!!! Whoohoo!!! Youre a winner. Lol.
Knowledge is the enemy of fear
I added ETH, BTC and DOGE today. Heh even added a bit of gutter (the paper slv kind) Held back some powder just in case they dip lower. Thanks for the gift! RGDS!!!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Financial assets, including cryptos, are simply responding to planned FED tightening. Likely just a "when Merrill Lynch speaks everyone listens" moment that will reverse itself when either the FED fails at tightening or reverses itself on tightening.
The FED is notorious for changing and even reversing course when Mama Market responds negatively to FED mouthspeak. Will it be different this time? FED is likely to initiate a small amount of tightening to attempt to save face but look for any tightening to be eventually reversed. After all, this is their modus operandi as the corner they have painted themselves into is getting smaller. How much of that corner will be left after this next paint application remains to be seen.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
The fed is just white noise. Off to buy some Au (physical not paper lulz). RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
You can all blame the crypto crash on me. I only finally dipped my toe into eth when the price crashed in may '21. Bought 2 for 2500, sold after it came off the high (too late) around 4100. Eth has been sitting around that 3800 zone for a while so I thought I might buy 1 again in case it makes a big move. if you read anything at all about cryptos basically everything out there said eth was getting ready to explode.
so I bought one at 3800 and explode it did - down. I bought literally an hour before the price started crashing.
Sorry!
I held onto it because I don't know what I'm doing.
Instagram
This is the one big reason for bitcion's drop.
The Kazakhstan unrest being called a black swan event. The talking heads believe this could be a major problem for bitcoin and oil prices.
Kazakhstan is the 2nd biggest country for bitcoin mining!!!
The internet has been shut down for days. So NO bitcoin mining can or will happen in Kazakhstan.
Shoot to kill orders have been invoked. Lots of dead police and officals.
I admit ignorance on the 'mining' process, so humor me...
Is the 'mining' the process of validating transactions or is that a separate operation? If the same, then what impact would this have on bitcoin being used in transactions?
If there are fewer bitcoins being mined, wouldn't that make existing bitcoins more valuable?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Yes. but no. jmo It shows one of bitcoins true weakness...volatility.
edited to add. What if we have a black swan event is the USA. And the internet is cut off like in Kazakhstan. You better believe the Goverment would sever cell phones and internet conections if stuff gets squirrely here in USA.
Make the trouble makers and everyone else use carrier pigeons to communicate.
Cashing in your bitcoin would be stopped cold. People would panic sell at their first chance. Bitcoin would drop like a platinum rock.
Mining is creating bitcoin digitally. Takes a shit load of power and I mean a shit load.
I like the volatility.
the fact that cryptos are being hit pretty much across the board I doubt Kazakhstan unrest has little to do with. More likely players in many assets are starting to wake up and smell the FED coffee. Where will their money go?
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Pretty sure most in Kazakhstan would trade bitcoin for gold right now. Bitcoin is 100% useless without the interwebs.
agree, all I'm saying is I doubt the unrest is affecting worldwide crypto prices. It's the movement of the FED mouth.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Harry Dent predicts a 90% drop in stocks in 2022 presenting a later buying opportunity of a lifetime. It's a bold call, but If he is only half right UVXY will see many, many multiples of a 90% gain. And if he's 100% correct, UVXY will be the play of a lifetime.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
I would call this more of a tufted titmouse than a black swan.
Knowledge is the enemy of fear
Did you hear about the guy who lost his job and then he could no longer afford his mortgage payments, so he had to sell his house at a loss or face foreclosure ?
Or how about the other guy who leveraged his "investments" and was forced into liquidation of his positions at a loss when he got the dreaded "margin call" ?
Both are examples of "weak hands" that wouldn't have been weak without the leveraging involved.
A leveraged hand is a weak hand.
Banks and institutional traders like being up against weak hands.
Agree
Well, only the banks not not holding the promises/debt of the weak hands.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Harry Dent has been calling for the end of the world for at least 2 decades. He's a quack doom and gloom salesman. Amazing he can continue to make a living being wrong 100% of the time.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
2 guys? Thats it?
Those guys were weak to begin with. Their failure was not the doings of others. They made their decisions. One didnt have the skillset to obtain another job. The other didnt do proper research and was controlled by emotions.
We could go in and on over "what about the guy", as their is always someone who fails. Its good to have an understanding of "what could go wrong", but moreso to balance that with "what could go right". Constant attention to the wrongs will guarantee failure.
Why do you guys always focus on negativity?
Why do you guys never consider personal responsibility?
Dont be weak. Dont be a dummy. Use your knowledge and stay within your realm.
Knowledge is the enemy of fear
Banks won't make the '08 mistake again - all that crap debt has been sold to retail investors that are sitting back thinking they are skinning the fat hog with their outsized portfolios and newly found home equity...
One-Fifth of Global Bitcoin Mining Capacity Taken Out by Kazakhstan Protests
Took this picture of a tuffed titmouse out my back window just now. What a beautiful day. Life is good.
Maybe if the tufted titmouse is the size of king kong.
Took this picture just now. My favorite bird. The blue bird.
Tuffted titmouse huh? Enter the Russian troops to take over.
https://youtu.be/0xInpGsF8V8
So, apparently, you did not know about those "two guys" (or the multitude of other similar people) ? I'm not surprised.
"Leverage" is a form of debt. Debt makes a hand weak. "Personal responsibility" means staying out of debt.
I will concede that there is good debt but only when it is used for a responsible business capital investment, a personal residence or a personal vehicle. That is no excuse to finance beyond your reasonable means to repay. Buying a $50K vehicle on a $40K salary makes no sense when a reliable used car can be financed for much less. With the ability to borrow money comes financial responsibility.
Anyone paying 15+% on credit card debt and at the same time financing a $50K vehicle clearly does not possess financial responsibility, but is dearly loved by the credit card company. I thank such spenders for making it possible for me to enjoy the convenience of a credit card without having to pay any interest or fees.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
We are at the low's I was looking for. Time for me to start easing back into ETH until I see enough strength that once again calls for "all in."
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
You've been "all in" for decades. He's a J̵u̵k̵e̵ ̵b̵o̵x̵ internet investment perfect timing hero. lol
The whole worlds off its rocker, buy Gold™.
BOOMIN!™