Upswinging, I'm not disagreeing with a thing you're saying. All plausible. But the question I then have for you is this:

If you're the miners, the developers, the exchanges, and whales like the winklevoss twins, would you rather buy up new coins at $9000, or at $900? That's assuming they really do believe that they're playing for 6 figure prices down the road.

How is this thinking different from the housing bubble, which was much bigger? You might very well be right, but it won't be for these reasons. Smarter people have let bigger things fail at a rate of a few times a decade.

Can't wait to get paid and buy this dip. With my 2nd job now I just put my entire 2nd income into crypto. Not even worried about price I just keep pumping in new money monthly.

What's your average right now in btc? o/u 10k?

I think it's up to like 7k-8k now in USD terms. I'm down pretty big in terms of BTC but idk how much. I've got a really bullish outlook for the future so that's why I don't care about the price right now. It's a big reliever of stress for me to just keep dumping money in when I can and not get caught up in the current price movement. If it goes to $0 longterm whatever, YOLO

7-8k you're probably still better off than most. But I think people at a 15k average aren't just easily pumping second job money into more coins.

The difference between 7-8k and 10k or even 15k is pretty meaningless if this thing goes to 100k or 1MM. Yeah you might have less money if you don't have a perfect entry but are you really gonna have sour grapes if you got a 10x instead of a 20x? I'm sure some might but not me.

Well the difference fundamentally is that from $7000 if this drops to $5000, you're down what, 30%? Someone from $15,000 is down 66%. Everyone's all rational HODLING till they take 66% to the face. Then all bet's are off.

The other thing is I could take your post and say the same thing about Facebook shares. But if I had to choose between Facebook shares or Bitcoin, I'm taking Facebook shares every single time.

I've been down over 50% at one point already. It forced me to buckle down and look at the big picture and remind myself of the fundamentals. Now I don't worry about the price anymore. I'm just enjoying the ride and being a part of this crazy thing that is happening. I'm half rooting for the tether scandal to break so I can buy more at crazy low prices. But to your point, yeah Facebook does look like a solid option. I don't know that the risk/reward is higher than bitcoin, but the risk definitely feels lower I would agree. But if you already have money in index funds like me and want some higher risk stuff to throw extra cash in, crypto feels like a no-brainer.

I'm just saying that most people do not act like you when down 50%+. And when you know that, you can see how the anatomy of a crash might work.

Now all that said, I know for a fact that I have probably almost zero understanding of scenario where crypto bros and exchanges show up here in force and save the price and we rocket our way up. So if you experienced guys know of a reason as to why they'd like to buy at these levels soon, I'm very eager to learn. I'm generally happy to be wrong and learn, and I'm one of the first to admit it.

That's not a good example.

A much better example is the dotcom bubble. Trading on margin, prices moved up and down based on nothing but public perception and news, and everyone thought they were going to be millionaires. in the end the only people who got rich were the brokers. Cryptos and the dotcom bubble are very similar. Alt coins are going to be a bloodbath, that's for sure. That said, I still believe crypto curriencies are the future, and that some will survive. In their current form? Probably not. And at what price? It's anyone's guess.

Because there's a lot of things to be bullish about
- Coinbase 1 billion in profits off of fees alone
- Bitcoin Futures Markets
- Potential upcoming Bitcoin ETFs
- Robinhood announces they will list BTC and ETH, already over 1 million people on the waiting list

Learn from this

You trade a lot, and I’m always surprised by this argument from people who are familiar with how financial markets work.

The price is just the midpoint of the bid ask. The market dictates this equilibrium because there are people with bids and asks on the order book 24/7/365 globally whether bitcoin is 900 or 9000.

there is absolutely nothing that can be learned from that . LOL.

(and he was desperately trying to unwind positions today LOLOLOLOLOLOLOLOLOL)

it's not about making money, it is the digital currency solution. The price is just a byproduct of that. People like you selling it simply slows down the adoption rate of crypto.

There might be a bubble but it will probably just be the alt coin bubble. Bitcoin, Etherium and others will continue to exist for the duration.

Uhhh no. His basis is that you should always take profit.

He’s been bearish on crypto since 14k breakdown. Please try and post intelligently....

rip

now even tethers cant save us

You think like a gambler. Playing with the house's money etc. It should make absolutely no difference whether the bitcoins are bought for 10 dollars or $20k. The initial buying price has nothing to do whether it is a good time to buy more now or to sell some (in the absence of tax implications). The person who bought 1BTC for $10 and the person who bought one for $20k lost exactly the same amount of their holdings when BTC dropped from $20k to $10k. They are both down exactly the same amount from the moment BTC started coming down from $20k.

HODL your dollars! It's up 50% in the last month. Don't miss out in the investment opportunity of a lifetime! USD USD!!!

The other advantages of USD are ZERO transaction fees for cash, and it is accepted at millions of retailers worldwide. You can even pay your taxes with it!

Why should you always take profit? I could only imagine taking profit if my cryptoportfolio become like 75%+ of my NW or something, just to diversify. It ain't there yet though. And even then that's a weak move because I have enough money outside of crypto that I can still live a decent life if my crypto goes to 0.

I own both Facebook and Bitcoin. I am not disappointed by either thus far. If I had to choose, I'd pick Bitcoin though. Bitcoin is really exciting. Lots of speculation and uncertainty there. I believe there is a small chance that we may experience a big price spike this year. I have some buy orders for Bitcoin at $8,500 and below. I have some sell orders at $19,000 and above.

There is a greater than 50% chance Bitcoin will fail imo. I'm thinking probably 70% chance of failure. 30% chance of success. The risk reward is a buy in my book though, because I stand so much more to gain that lose. By success, I'm thinking 200kish or more in a few years.


Some people in this thread seem to be super gloomy about Tether. I'm pretty sure that tether isn't a problem. Tether is a way for exchanges to not have to deal with legal stuff related to the US dollar. They use Tether as a dollar substitute since it is suppose to be the crypto currency equivalent. There seems to be this rumor that exchanges are buying tether to manipulate the price. If an exchange wants to manipulate the price they don't need tether to do this.

Take coinbase for example. When BCH was at $9000 trading froze and insiders were then able to process their own sell orders before opening the market up again. (Okay, I have no proof that this actually happened, but it seems pretty obvious to me that it did happen. Seems like the most logical explanation to me at least. Either way, something shady for sure was afoot.) If an exchange was using their own tether they bought, to buy up the price then they would be doing it with their own money indirectly.

first big margin fight of 2018

Bfx Positions LONG SHORT
Bitcoin (BTC): 50% 49%
Long: 24,717 BTC; Short: 24,263 BTC
--------------------------
Monero (XMR): 29% 70%
Ethereum(ETH): 87% 12%
Litecoin(LTC): 50% 49%
Zcash(ZEC) : 68% 31%
EClassic(ETC): 57% 42%
DashCoin(DSH): 15% 84%
Bcash (BCH) : 58% 41%
2018-01-31 07:55:40.796837

outcome of this fight will set stage for next few weeks.

Where did you get these numbers from?