I remember when silver went over $35, i was saying to stop buying as the market became irrational and to buy when it got back down to $20 if still interested. This feels the same, but more insane. The crypto market became irrational when Bitcoin went above $7000, so i backed off until it gets back down there and the market gets a cooler head. People have to just stop for a second and look at the crazy maketcap of all the cyptos, then go and look at their explorer and see it's transaction usage. Then you will see that no one is using the vast majority of these billion dollar cryptos. People keep saying FUD, but all i was seeing is FOMO. But i think people will now start moving to the FUD side and that is a good thing. Balance is always the key.
Just wait Jim and we will begin to hear all the stories from a few here that "sold out just in time". This might be just another buying opportunity or it could be the pop some of us have called for. Two people on here that have been talking about crypto like it is a new religion have been very quiet and i expect them to be first in line when the smoke clears (one way or the other) to tell us how well they have done at either buying this new low or selling just in time. If it is the latter i have already marked their previous comments about "long term holds" that i look forward to hearing about. If you were smart like some of us and use crypto as a gambling tool then you are looking sweet, if you brought into this as the religion that some preach and this is the POP then you are screwed.
Like ME. I got out at 15k before it reached 19k. If ever buy back in.... it will be well after BTC begins upward trajectory and there are plenty of feel good stories pumping mums and dads to come bac’ in (that is if they haven’t left for good). Mums and dads are the key to btc prices. If they leave it won’t go back up anytime soon. My philosophy no need to buy at the lowest or sell at the top.
Unfortunately I did not buy any bitcoin or others. I never really understood how it all worked and simply avoided it. I still don't think I would buy any in the future unless it's just a small amount to play with. I am currently putting away some "gambling cash" to buy put options when the US stock market starts showing signs of a correction (if that ever happens).
From above... WTF there is 1300 cryptocurrencies. Full on panic by Korean house wife and hair dressers telling their clients to get their money out.
Something that could be a bit of money earner in US would be betting on Insurance companies. After Hurricanes or other natural disasters, Insurers tank, and I usually buy the bluest chip insurance that has tanked the most. Hold, than sell out as they near what there were usually a year. In Australia QBE insurance is a stock, buy a two or three days after a disaster, doesnt matter as long as it on every morning and evening news and papers.... big bush fires, flood or cyclone... insurers always gets crushed and a year later back at their normal price. If I see a 30% to 50% dip I start buying
Traditionally (though changing, still a very high percentage dont) Korean House wives dont work, however they control house hold finance they love bubbles.... but they get scared as soon as they hear of someone losing money.
Crypto's have been jawboned down by the MSM relentlessly over the last week, look at how many times the SK news has been regurgitated over the last few days alone. Add to that central banksters and .Govt types the world over increasingly shitting themselves and having the MSM headlines in their pockets at a whim, spreading FUD as much as possible along with the new shorts available on Wallstreet and what do you end up with ? New money running scared and those in opposition to Crypto doubling down on the FUD. It will pop back, always has. The Hodlers and BTFDsters will make profit, and those who sell will either lose or learn their lesson the hard way and try again.
Crypto Craze: Russians buying electrical power stations to mine cryptocurrency http://russiafeed.com/russians-buying-electrical-power-stations-mine-cryptocurrency/ This may just be the craziest, most shocking thing someone has done in pursuit of cryptocurrency yet. Businessman Aleksey Kolesnik may just have purchased two electrical power plants, purely for the sake of cryptocurrency mining. We’ve heard reports of private investors taking out second mortgages on their homes for bitcoin, but Russia just upped the ante. For what it’s worth dear friends, please don’t put any specific amount of money into cryptocurrency, that would break you if you lost that money forever. The same could be said for any venture – invest wisely!
At $3 million, it is more a generator, rather than power station. besides as long as the group has the expertise than owning its own generator would lower cost. I presume where it is located it would burn local coal. Besides electricity is the largest cost so lowering this mean bigger profit. In Korea, a sure way to make money, even if you didn’t have any spare, was getting a new credit card, withdrawing cash and buying crypto. Obviously worked well for the early birds who started 2016 or early 2017 and the return is above 30%. Not so well for people who are always late to the party, who got on the Free money credit card advise in October to December 2017.
Morbid. I feel for those poor pensioners in the bitconnect photo being herded to the slaughter house. Apart from them I think most people in the space are comfortable with their positions and have diversified accordingly.
Wow... https://cryptonews.com/news/coincheck-hacked-more-than-500-million-xem-stolen-1093.htm This morning, the Japanese crypto exchange platform Coincheck was hacked and had 526 million XEM (c. USD 400 m) stolen. It has nothing to do with NEM - there is no issue with the tech, and according to them, the blame lies exclusively with Coincheck "This is the biggest theft in the history of the world,"
Looks like we are coming to another end point. As always will it break up or down? The last one i did broke down hard shortly after. I have a feeling it might do the same again.
