Discussion in 'Bitcoin and Cryptocurrency' started by Dthcore, Mar 12, 2020.

  1. Dthcore

    Dthcore Member

    Yo did anyone else just lose money with the huge drop!?! I had a substantial amount processing from my banking for bitcoin and lost out on a chunk of money because of it!! Worse timing ever!! I can’t even touch it yet since it’s still “processing”!
  2. pfdept59

    pfdept59 Member

    Bitcoin was down 30% overnight,I buy Bitcoin and send it off as soon as i get it and only do this mid day on an up day on the bitcoin market
  3. ickyrica

    ickyrica Member AnabolicLab.com Supporter

    You should see my 401k.

    I couldn't imagine what it would feel like to be midway through retirement and have this pop up, and not that long after 2008 in reality (would have been right before retiring).
    TideGear, Logan44551 and Dthcore like this.
  4. zepp

    zepp Member

    Yeah I sold my crypto off and lost a few hundred. You can expect a 40% drop, a short rally, and then another big sell off as more people catch on to what's happening. We could see a 50% drop easily. No one that trades is positive right now for crypto, gotta wait for it to flatline and then buy, you could make some money.

    However the institutional whales are bailing and this could turn into a shit storm. BTC halving to happen in april would see mining in the red, it could create a mass exodus and another drop, could be a nail in the coffin.

    Right now we're in a depressed and scared market, everything is gonna fall to shit for the short term so just stay away. No one knows how this is gonna play out.

    BTC has really been a pile of shit for the past 3 months, always losing, when it rallies, it does it for a day and then right back down. Can't keep going like this forever before something else replaces it.
  5. zepp

    zepp Member

    At the age of 35 I put $350K in annuities, I sleep like a baby, stick them in a Jackson or Lincoln.

    You gotta realize that when you have a republican in office, a fuckhead that has went backrupt four times, his stimulus package that flooded the market with money from swiss bank accounts buying up their own stock it was artificially inflating the markets.

    These markets are bullshit, I laugh when they think Trump turned it around. Republicans always try the same old shit, they give massive tax breaks(which are fine), and a few years later it all falls apart, then hedge fund managers come into play, sweep up the carnage and walk off with massive wealth. I just wish the American people would catch on to this scam that has been repeated over and over since Reagan.
    Avies48, FiEnD, KCMO and 2 others like this.
  6. Silentlemon1011

    Silentlemon1011 Member AnabolicLab.com Supporter

    Realistically both parties do this in different ways, let's not kid ourselves
    Akuj, Savagesteve, Villain and 2 others like this.
  7. zepp

    zepp Member

    I agree the government has to get out of the way and just let things happen good or bad, people should look out for themselves and be conservative with their wealth, something most Americans haven't demonstrated at all.
    Silentlemon1011 likes this.
  8. 2020 has been tough, yet as a long term investment tool this is a massive opportunity imo to inject money into bit whenever we see signs of the bottom
    sinewave3, Gbro and MythotiK like this.
  9. zepp

    zepp Member

    The problem is I don't think you're gonna see some of the whale institutions jump on board and pump the value. This could be a reset, at this point, mining value wouldn't be near enough to cover costs come april.

    IMO I wish we could get away from crypto as it is right now and move to something more interesting, I don't know what that would be, but I still like having a currency pegged to gold or silver. Bitcoin for the past few months has been a complete waste of time.
  10. Idk I'm not the most posted but I will say this with companies like uber considering excepting crypto, facebook entering the marketplace, atm exchanges popping up... I think the ball is rolling in a way that would take more than this period of skepticism to completely abandon crypto.

    Sounds like you're well read though I would love to hear more of your thoughts on the subject as it's been an interesting and lucrative ride for me personally thus far. Don't get me wrong though, I'm interested in grabbing up anything that the blockchain technology is reinventing. I've seen really exciting things in perishable commodities especially fresh produce, tomatoes, etc.
    Last edited: Mar 12, 2020
  11. Demondosage

    Demondosage Member

    Hahahahah, a 401k, the running joke of real investors.

    I wish someone with a real brain in their head and life experience talked to me abt the realities of a self funded savings account (sorry, I meant 401k) years ago.

    Because I would have invested in real estate instead, something with a tangible physical return every month and faster return!
  12. Demondosage

    Demondosage Member

    Also, fyi not knocking anyone who lost money from this bullshit, just saying that I wished I know then what I know now. The hell with waiting my entire life to see what kind of return I'll get, what a fucking joke!
  13. Gbro

    Gbro Member

    Housing markets crash too.
  14. Demondosage

    Demondosage Member

    And what do you think ppl do when they lose their home? When you don't own.....
    You.... ??????
    TideGear likes this.
  15. flenser

    flenser Member AnabolicLab.com Supporter

    This is a liquidity crunch. Everyone is selling whatever they can to meet margins and make interest payments. If you have the cash, it's time to buy BTC, not sell. Gold and silver too for that mater. I was expecting gold to fall a lot more than it has, so maybe there's more selling ahead.
  16. TideGear

    TideGear Member

    I'm curious at what price would you buy btc? Tough to guess how far it will fall. This virus hysteria will die out and things will return to normal. Maybe a month of this nonsense if I had to guess
  17. Demondosage

    Demondosage Member

    Anyone else ever wonder if it's just some big ploy to get countries to start producing their own shit again and quit relying on China?
    Avies48 and TideGear like this.
  18. TideGear

    TideGear Member

    Hell, I think if it hits 3k I'm gonna buy one and a half of them.
  19. TideGear

    TideGear Member

    I'm sure it's a ploy of some sort. Just gotta figure out who benefits and also had the power to instigate it.
  20. Gbro

    Gbro Member

    I'm sure that sounded really deep to you.