Official Cryptocurrency Trading Thread

[Power_Of_Rotary]

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I heard this guy on the internet sold his condo last week.

Bitcoin is going to the moon. Or whatever this thread is about.

Dont be jealous he has his own condo.

[killramos]

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Dont be jealous he has his own condo.

Aren’t you paying attention? He doesn’t have a condo any more. Because the condo market is red hot.

Buy Dogecoin.

[bjstare]

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I think just under 30 is the floor. A small rally tomorrow, maybe another weekend dip that sees 30 or maybe even 28 then she rockets back to the moon after that.

There's a ton of money betting on crypto, a lot of it is momentum and caution based though, if it finds a support for a week or two then gains you can bet people will try to get in quickly again.

Awesome.

[tirebob]

https://ca.finance.yahoo.com/news/bi...103540636.html

Yahoo Finance
Bitcoin is officially a new asset class: Goldman Sachs

Whatever that means to the market... Bitcoin is up like 15% though right now again.

[Buster]

Translation:

Goldman just figured out a fun new way to fuck BTC holders

[killramos]

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Translation:

Goldman just figured out a fun new way to fuck BTC holders

The free market is a wonderful thing.

[Buster]

I posted this earlier, but FB videos don't work well.

But it is perfect for this thread, so i will post again.

[pheoxs]

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I think just under 30 is the floor. A small rally tomorrow, maybe another weekend dip that sees 30 or maybe even 28 then she rockets back to the moon after that.

There's a ton of money betting on crypto, a lot of it is momentum and caution based though, if it finds a support for a week or two then gains you can bet people will try to get in quickly again.

Well she rose, and now she's starting to fall, so far seems like a good guess. Hoping Monday we find support and can break upwards for good again .

[M.alex]

I thought the point of bitcoin was to get away from big government control ... but if the FBI (probably NSA) can hax0r the hax0rs to get the bitcoins doesn't that mean it's kinda pointless?
https://finance.yahoo.com/m/383b812b...ment-says.html
\

[ExtraSlow]

They played themselves.

[ThePenIsMightier]

LoL at the phrase "the point of Bitcoin..."

[msommers]

Ethereum has a useful point to it at least. BTC does, in theory, but...

[ExtraSlow]

I'm still waiting for all those blockchain applications that have nothing to do with cryptocurrencies. I think it would make a lot of sense for materials tracking and inventory transactions etc industrial settings. Shit like that is coming, but I think the companies who could do it, haven't figured out how to monetize it.

[bjstare]

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I'm still waiting for all those blockchain applications that have nothing to do with cryptocurrencies. I think it would make a lot of sense for materials tracking and inventory transactions etc industrial settings. Shit like that is coming, but I think the companies who could do it, haven't figured out how to monetize it.

It's already here. My company has an "established" blockchain practise. I'm guessing you not seeing it yet is a product of the industry you work in being the last to adopt anything new.

[ExtraSlow]

Glad it's happening. I had a great talk with some smart folks about it and I coukd see it really adding significant value.

[pheoxs]

NFTs are basically that as well. Digital art with a secure chain of custody. Lots of auctions for 1 or 1s are going for millions of dollars.

[ExtraSlow]

Can anyone explain why crypto crashes when a group of miners go offline? Gizmodo is terrible reporting, but here's the link that has me thinking about it.
https://gizmodo.com/bitcoin-plunges-...g-o-1847139438

[cyra1ax]

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Can anyone explain why crypto crashes when a group of miners go offline? Gizmodo is terrible reporting, but here's the link that has me thinking about it.
https://gizmodo.com/bitcoin-plunges-...g-o-1847139438

Clearly Gizmodo doesn't like crypto at all:

How much lower will crypto prices go? No one knows for sure, of course. But ponzi schemes can run for a relatively long time before they finally collapse. Pinboard’s Maciej Ceglowski recently appeared on CNBC to explain how the crypto scam works.

[ExtraSlow]

Yeah, not unbiased reporting, obvs.

[LilDrunkenSmurf]

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Can anyone explain why crypto crashes when a group of miners go offline? Gizmodo is terrible reporting, but here's the link that has me thinking about it.
https://gizmodo.com/bitcoin-plunges-...g-o-1847139438

Note: I am not a financial advisor, this is not financial advise. But my uneducated guess is that when a large amount of miners goes offline like that, it actually decreases mining difficulty. Since it's easier to get coins now, the value inherently drops. I think. Someone else might have a better answer, but that's my initial thoughts.