Who else have invested $20,000+ in altcoins

Discussion in 'Bitcoin and Cryptocurrency' started by Roco Bama, Nov 19, 2018.

  1. Roco Bama

    Roco Bama Member

    The crypto market keep on fucking crashing. Some wise speculators are saying bitcoin will fall below 2000 by 2019.
    Did we get burned or what ?
     
  2. brutus79

    brutus79 Member

    If you are still holding you are insane. Bitcoin broke 6k- it's going down to 4300 and it's a free fall under that.

    Alt coins will all die. The sec is cracking down on all of them- they were basically go fund me scams for shell companies who came up with a cool sounding idea and attached block chain to it... blockchain is amazing tech, but the coins have nothing to do with it. All these fake partnerships and shit are pure marketing propaganda- why the fuck would someone like American Express expose themselves and their customers to an unregulated cryptocurrency they have no control or oversight into when they could just create their own coin??

    I still have an ether mining rig I built but invested 20k, it went to 50, dropped to 15 and I sold the bounce to 31k and I got the fuck out.

    Been trading stock options and futures.... much, much safer and shorts have been paying well in these turbulent times. Crypto is simply in a vicious down trend for almost a year- and the only people holding are mining farms who dont want to drop the price and retail investors who dont want to realize the loss and are clinging to the hope it will fomo up to 20k and take all the other coins with it. Bitcoin will never die off- it's way too easy a method to transport massive amounts of currency anonymously- but it will never be mainstream due to a 4 transactions per second limitation and the volatility involved with it.
     
  3. janoshik

    janoshik Member

    Why don't you short Bitcoin then?
     
    MindlessWork likes this.
  4. Roco Bama

    Roco Bama Member

    I guess it’s too late for me but I learned my lesson.
     
  5. Roco Bama

    Roco Bama Member

    For all you guys who bought into the altcoin hype, it’s bad news. There’re some members on meso who invested $100k into this multi marketing scheme for the long run.
     
  6. DrinkFlintWater

    DrinkFlintWater Member AnabolicLab.com Supporter

    So all altcoin shifts are dependent on bitcoin price movements? Interesting...if only there were some alts that had actual real world value and more importantly purpose...that is, completely unrelated to Bitcoin...
     
    Roco Bama likes this.
  7. Roco Bama

    Roco Bama Member

    Other members might want to shed some light on this as I’m not too knowledgeable about it
     
  8. i can't buy steroids with stock options! :mad::D
     
  9. janoshik

    janoshik Member

    Have you tried, tho?:p
     
    MisterSuperGod likes this.
  10. Mayne

    Mayne Member

    Most people don't understand how long it would take a company to develop, what come for the native token to be used and increase in value. Paypal (and that is Peter Thiel's word) had to pay people to use them in the beginning. You invested and held for what a year and call it quit? No wonder there is an accredited investor criteria.
     
    master.on likes this.
  11. i just read recently that Amazon operated at a loss for years before they turned a profit. Look at them now.
     
    master.on likes this.
  12. Roco Bama

    Roco Bama Member

    My portfolio value dropped by more than 90% and this shit isn’t even regulated. Definitely shouldn’t be something you invest for the long term
     
  13. flenser

    flenser Member AnabolicLab.com Supporter

    Yea, look at them now. A lot of foolish investors lost their ass on Amazon, though. A writer I follow used to call them the River of No Returns : )
     
    MisterSuperGod likes this.
  14. brutus79

    brutus79 Member

    The token has nothing to do with the value of the company or the tech. How can you use a term like "accredited investor criteria" when you are talking about crypto? It's a pipe dream with no oversight... literally a GoFundMe for companies who wouldn't want to be subjected to the sec scrutiny of going public. Hold it for ten years but it will probably disappear first... or be worth a few satoshi you can wipe your fucking ass with.
     
    Roco Bama likes this.
  15. brutus79

    brutus79 Member

    You would have had to be an idiot to lose on Amazon. It was 27 bucks 10 years ago... and anyone who bought when the pe was over 50 deserves to get fucked.
     
    flenser likes this.
  16. brutus79

    brutus79 Member

    Amen. I had some shitcoins in some janky exchanges I didn't bother selling because it was too much of a bother.... they were worth about 4k. They are now worth $140.
     
    Roco Bama likes this.
  17. brutus79

    brutus79 Member

    Tons of companies operate in the red... you think uber makes a profit? Lyft? Tesla? Fucking Tesla has a bigger market cap than gmail and can't even deliver half a percent of the cars they do. Pathetic bubble of shit.... and people funnel their money in because Elon musk inspires them. Lol
     
    MisterSuperGod likes this.
  18. flenser

    flenser Member AnabolicLab.com Supporter

    Lot of people just fed their money to some funds company, lot of them fed the 401K looters, and many had no choice due to their employer's pension plans. They all lost their asses; you just can't see it in the charts because of exponential inflation. Getting ready to happen again, actually.
     
  19. brutus79

    brutus79 Member

    I thought you were talking strictly about a retail investor holding a position... the funds fucking raped everyone. They use 401k and pension money to pump, they take profits and let it bleed out. I think 2019 will see huge q4 earning that funds will dump on and retail investors will get creamed on... that drop will cause rampant margin calls and combine that with qe revocation by the crooked ass fed and the credit collapse will be catastrophic by 2020. They have done a fairly good job reinflating the housing shit bubble too... and since equities somewhat propped up the housing bubble collapse in 08 and taxpayers and AIG pumped 15 trillion to the banks and no debt was actually written down- this credit collapse will be horrific- it will be what was basically postponed in 08 plus what we have coming from this free credit buyback bonanza mess of the last two decades. I'll be holding some heavy etf short positions next year. Best investment someone could make imo
     
  20. flenser

    flenser Member AnabolicLab.com Supporter

    Retail investors are in the minority these days. Pensions and retirement accounts get the real money, and the ones paying in are rarely the ones who profit. I guess you would call that the dumb money. Amazon used the dumb money to operate at a loss for more than a decade and crush its smaller competitors.

    I agree the credit collapse will be the worse one yet. But it will be short and the bailout huge. Neither Trump nor Powell have the balls to hold fast. After that soaring prices will wreak havoc on everyone else.