BITCOIN

MeteredOut

Interesting to see if BTC is going to test down to the $60K level.

There's a lot of "why's it not gone to the moon after the halving like everyone said it would" on social media. Greater fool theory strikes again.

IvanOpinion

You just blew my theory that the position of this thread reflects how well Butcoin is doing.
When this thread rises it usually means bitcoin is up and being pumped by the believers?
When this thread lanquishes in the dark depths of the board it means it is down and the believers don't want it mentioned?

MeteredOut

IvanOpinion said:

You just blew my theory that the position of this thread reflects how well Butcoin is doing.
When this thread rises it usually means bitcoin is up and being pumped by the believers?
When this thread lanquishes in the dark depths of the board it means it is down and the believers don't want it mentioned?

I mentioned the same a couple of weeks back too - it was definitely the case then, and I'd state still is, for those that are advocates of crypto.

I'm not sure MSE has that many crypto followers though. Get the algorithms on Insta or TikTok to serve up crypto content, and you'll see how wild things are. So many shillers pushing the alt coins, so many people asking if its a good time to buy or a good time to sell, so many now wondering why their recent investment is down 20%. People are treating it like a side-hustle but putting what is, for them, a significant portion of their assets, then wondering why they're not rich all whilst the influencers are crying HOLD and TO THE MOON on the latest meme-coin they've been paid (in said coin) to sell.

User232002

IvanOpinion said:

You just blew my theory that the position of this thread reflects how well Butcoin is doing.
When this thread lanquishes in the dark depths of the board it means it is down and the believers don't want it mentioned?

MeteredOut said:

I mentioned the same a couple of weeks back too - it was definitely the case then, and I'd state still is, for those that are advocates of crypto.

What are you two on about? Friendly reminder, 6 months ago Bitcoin was $20k.

Where are these 'losses' of which you speak?

MeteredOut said:

I'm not sure MSE has that many crypto followers though. 

Because the demographic skews older and the boomer generation would very much rather young people simply towed the line than build their own, fairer, monetary system.

ColdIron

User232002 said:

Because the demographic skews older and the boomer generation would very much rather young people simply towed the line than build their own, fairer, monetary system.

Toed the line. We boomers understand grammar

MeteredOut

User232002 said:

IvanOpinion said:

You just blew my theory that the position of this thread reflects how well Butcoin is doing.
When this thread lanquishes in the dark depths of the board it means it is down and the believers don't want it mentioned?

MeteredOut said:

I mentioned the same a couple of weeks back too - it was definitely the case then, and I'd state still is, for those that are advocates of crypto.

What are you two on about? Friendly reminder, 6 months ago Bitcoin was $20k.

Where are these 'losses' of which you speak?

MeteredOut said:

I'm not sure MSE has that many crypto followers though. 

Because the demographic skews older and the boomer generation would very much rather young people simply towed the line than build their own, fairer, monetary system.

Losses - the FOMO folk that bought at $65-70K+ based on the social media posts, and are now looking at a price of $57K. Pretty much anyone who has bought in the last 2 months and is still holding is in a negative position.

BTC has barely dipped under $35K in the last 6 months according to this: https://finance.yahoo.com/quote/BTC-USD/, not the $20K your claim.

I don't disagree MSE will have a different demographic, but the latter part of that sentence is just nonsense. Crypto is not a serious alternative monetary system any more than lego is a viable replacement for concrete in buildings.  But I do find it humorous how when some get triggered, they immediately cry boomer.

Adyinvestment

IvanOpinion said:

You just blew my theory that the position of this thread reflects how well Butcoin is doing.
When this thread rises it usually means bitcoin is up and being pumped by the believers?
When this thread lanquishes in the dark depths of the board it means it is down and the believers don't want it mentioned?

I have noticed that also.

I don't know why but the anti Bitcoin side are coming across more fanatical than the pro Bitcoin side. Considering I assume they have no skin in the game, they certainly devote a lot of time and effort into putting it down.

User232002

MeteredOut said:

BTC has barely dipped under $35K in the last 6 months according to this: https://finance.yahoo.com/quote/BTC-USD/, not the $20K your claim.

I do apologise for the inaccuracy; Its been a long time since I actually even looked. Whilst you're here though, could you please just confirm to us whether $35k is above or below $57k? Much obliged.

MeteredOut said:

Losses - the FOMO folk that bought at $65-70K+ based on the social media posts, and are now looking at a price of $57K. Pretty much anyone who has bought in the last 2 months and is still holding is in a negative position.

Sorry, I didn't know that assets had to be at all time highs at all times.

Its all so tiresome. What would you say to someone who bought the S&P500 at 5250 a month ago? 

MeteredOut said:

I don't disagree MSE will have a different demographic, but the latter part of that sentence is just nonsense. Crypto is not a serious alternative monetary system any more than lego is a viable replacement for concrete in buildings.  But I do find it humorous how when some get triggered, they immediately cry boomer.

I never said crypto. Bitcoin has had no bail outs, has true scarcity and works 24/7. 

I find it humourous though that you think I'm 'triggered.' The fiat ponzi is creaking and I've got more than enough time to wait it out. 



I'm paraphrasing slightly, but I think goes something like "When our country is paying more in interest on the debt than we are collecting in tax receipts, then our country has truly become a ponzi scheme." 

If you're 70+, I completely understand not holding Bitcoin. If you're under 60, I think you're running it close.

Scottex99

Adyinvestment said:

IvanOpinion said:

You just blew my theory that the position of this thread reflects how well Butcoin is doing.
When this thread rises it usually means bitcoin is up and being pumped by the believers?
When this thread lanquishes in the dark depths of the board it means it is down and the believers don't want it mentioned?

I have noticed that also.

I don't know why but the anti Bitcoin side are coming across more fanatical than the pro Bitcoin side. Considering I assume they have no skin in the game, they certainly devote a lot of time and effort into putting it down.

And the true “believers” somehow correlate this random thread on a specific forum on a small UK website with the performance of their investment? Haha.

Even better is buttcoin which likely has come from Reddit where people spend all day trying to find reasons why BTC should go down and absolutely rejoicing when it does - seems a waste of time in my eyes, unless you had a short open.

It was a shakey weekend for the crypto markets and no post halvening pump yet, doesn’t change my outlook for this year really. We’ll see what happens on the macro side and potential fed pivot

HHarry

User232002 said:

I never said crypto. Bitcoin has had no bail outs, has true scarcity and works 24/7. 

I find it humourous though that you think I'm 'triggered.' The fiat ponzi is creaking and I've got more than enough time to wait it out. 



I'm paraphrasing slightly, but I think goes something like "When our country is paying more in interest on the debt than we are collecting in tax receipts, then our country has truly become a ponzi scheme." 

If you're 70+, I completely understand not holding Bitcoin. If you're under 60, I think you're running it close.

 Works 24/7 doing what?  You’re not filling your car up with petrol with it.