Bitcoins - about to hit $5,000 per coin today!

[IroNat]

How many Getbig millionaires so far from crypto?

[Humble Narcissist]

How many Getbig millionaires so far from crypto?

Lots of them in this thread.  In their minds anyway.

[Thin Lizzy]

Lots of them in this thread.  In their minds anyway.

All got out at the exact top and immediately went short💪

[Pray_4_War]

That was a steep enough drop to put us into the 5th impulse wave down. Could very well go into the mid 20k area. Looking pretty weak right now.

[Flexacon]

All got out at the exact top and immediately went short💪

I got out with x40 ETH gains 

Went back in smaller on a few alts which are still strong greens 

No shorting though. I always advise against those types of plays.

I've made enough where I could retire at 40. I'm not done though, why would I when there is easy money out there. A shame some of you have missed out.

[Griffith]

That was a steep enough drop to put us into the 5th impulse wave down. Could very well go into the mid 20k area. Looking pretty weak right now.

If if does go to those levels I will be mainly buying ETH.

More upside potential compared to Bitcoin, IMO.

(ADA already at some bargain prices so will probably buy as well).

[Bindare_Dundat]

I got out with x40 ETH gains 

Went back in smaller on a few alts which are still strong greens 

No shorting though. I always advise against those types of plays.

I've made enough where I could retire at 40. I'm not done though, why would I when there is easy money out there. A shame some of you have missed out.

Exactly.  There's money to be made. I don't know what's so funny to some guys about that.

[Grape Ape]

Exactly.  There's money to be made. I don't know what's so funny to some guys about that.

It's just jealousy of missing out.

The reality is, whether you believe in crypto as a viable source of anything or not, this shit could be bought at a ridiculously low price, and sold at a tremendously high price.

10x, 20x 1000x.....the opportunity was there, and can happen again.

Pretty simple.

[IroNat]

It's just jealousy of missing out.

The reality is, whether you believe in crypto as a viable source of anything or not, this shit could be bought at a ridiculously low price, and sold at a tremendously high price.

10x, 20x 1000x.....the opportunity was there, and can happen again.

Pretty simple.

Are you selling though and taking profits?

[Flexacon]

Exactly.  There's money to be made. I don't know what's so funny to some guys about that.

It's a copying mechanism for missing out.

I know cos that was me in the early days of BTC. I gave BTC a once over when it was at $30 and trashed the idea. Came across it again at $100 and I liked it a bit more, but buying/mining looked like a pain in the ass so I didn't bother. Missed out big time.

Still can't convince myself to jump in and hodl BTC

[IroNat]

Done quite a bit of reading about crypto and I believe crypto will be recognized one day as a legitimate medium of exchange.

That day is not here yet.  You don't go into WalMart and pay with crypto as far as I know.  Do you?

Right now it is pure speculation.

If you truly consider it to be currency, then what you are doing is currency speculation.

Pros make a lot of money with currency speculation.  Also speculating in metals, corn futures, other commodities, etc.

Nothing new about that.  A few will get rich which is what happens with speculating in things to get rich.

Remember "Day Trading"?  When was that?  About 10-12 years ago?  Everybody was going to get rich being a day trader. 

My neighbor told me he was doing it.  Didn't work out for him.  His wife later booted him out of the house.

Some got wealthy with day trading.  Mainly the people teaching day trading to suckers like my neighbor.

Most will not speculate successfully and lose as there is only so much to go around.  Which is why new crypto types are being created all the time.  Something new to sell the suckers.  So give it a shot if you dare.  I'm not saying you can't be the one lightning hits.

You have to find someone willing to pay more for what you paid someone else more for.

This is called the...

Greater Fool Theory
By Adam Hayes

The greater fool theory argues that prices go up because people are able to sell overpriced securities to a "greater fool," whether or not they are overvalued. That is, of course, until there are no greater fools left.

Investing, according to the greater fool theory, means ignoring valuations, earnings reports, and all the other data. Ignoring the fundamentals is, of course, risky; and so people subscribing to the greater fool theory could be left holding the bag after a correction.

[Flexacon]

Done quite a bit of reading about crypto and I believe crypto will be recognized one day as a legitimate medium of exchange.

[/b]

You haven't done enough reading, or have been looking at the wrong things. Don't focus so much on crypto and look more at blockchain.

Once you understand blockchain you'll realise that the landscape is about to change. Blockchain is at a similar point to the internet in the 90s. People didn't get why they might need the internet. I mean if you have a phone, TV, magazines and newspapers why would you need the internet?

Once you understand some of the basic principles of blockchain, do some more research in that area and you'll find viable projects which can replace current systems we use everyday. They'll make things faster, cheaper, more efficient, less prone to error etc etc. After you've discovered these projects you have the chance to get it in early and the question turns to "how can I make money from this?" That's where the crypto attached to those projects come into it.

The whole "legitimate medium of exchange" is antiquated thinking. Things have long moved past that.

[El Diablo Blanco]

seems the doomsday preachers are out.  The bottom is falling...

[Grape Ape]

Are you selling though and taking profits?

I didn't play it.

My big "miss" was that I was told to by Doge at half a cent.  In literally a week, it went to the moon.  My investment would have made about 170k.  But it doesn't bug me because I haven't been actively trading crypto, and it's likely I would have dumped it a nickel and 10x profit.

I have some money in $VET that I just decided to buy and let it sit.

I'm watching ETH and Matic, but haven't decided to go in.

But I won't hate on those who made $

[SOMEPARTS]

You haven't done enough reading, or have been looking at the wrong things. Don't focus so much on crypto and look more at blockchain.

Once you understand blockchain you'll realise that the landscape is about to change. Blockchain is at a similar point to the internet in the 90s. People didn't get why they might need the internet. I mean if you have a phone, TV, magazines and newspapers why would you need the internet?

Once you understand some of the basic principles of blockchain, do some more research in that area and you'll find viable projects which can replace current systems we use everyday. They'll make things faster, cheaper, more efficient, less prone to error etc etc. After you've discovered these projects you have the chance to get it in early and the question turns to "how can I make money from this?" That's where the crypto attached to those projects come into it.

The whole "legitimate medium of exchange" is antiquated thinking. Things have long moved past that.

I def agree with a lot of this regarding blockchain as being useful, but once widely used and more standardized will there be profit in it for small investors/will there be a need to raise capital?

The recovery of Bitcoin ransom is a big reason for the fall IMO...FBI accessed the "private key" - as I've said before BTC is port based and can easily be blocked/tracked/accessed at the ISP level.

https://www.cnbc.com/2021/06/08/bitcoin-btc-price-slides-as-us-seizes-most-of-colonial-ransom.html

[SOMEPARTS]

Done quite a bit of reading about crypto and I believe crypto will be recognized one day as a legitimate medium of exchange.

That day is not here yet.  You don't go into WalMart and pay with crypto as far as I know.  Do you?

Right now it is pure speculation.

If you truly consider it to be currency, then what you are doing is currency speculation.

Pros make a lot of money with currency speculation.  Also speculating in metals, corn futures, other commodities, etc.

Nothing new about that.  A few will get rich which is what happens with speculating in things to get rich.

Remember "Day Trading"?  When was that?  About 10-12 years ago?  Everybody was going to get rich being a day trader. 

My neighbor told me he was doing it.  Didn't work out for him.  His wife later booted him out of the house.

Some got wealthy with day trading.  Mainly the people teaching day trading to suckers like my neighbor.

Most will not speculate successfully and lose as there is only so much to go around.  Which is why new crypto types are being created all the time.  Something new to sell the suckers.  So give it a shot if you dare.  I'm not saying you can't be the one lightning hits.

You have to find someone willing to pay more for what you paid someone else more for.

This is called the...

Greater Fool Theory
By Adam Hayes

The greater fool theory argues that prices go up because people are able to sell overpriced securities to a "greater fool," whether or not they are overvalued. That is, of course, until there are no greater fools left.

Investing, according to the greater fool theory, means ignoring valuations, earnings reports, and all the other data. Ignoring the fundamentals is, of course, risky; and so people subscribing to the greater fool theory could be left holding the bag after a correction.

BTC is old, bad tech and will be replaced just like all old, bad tech. It's utility is low compared to other options and let's face it most people own it for the expected gain in value not the functionality, even to the point of calling it a store of value because it's so clunky.

[Humble Narcissist]

You haven't done enough reading, or have been looking at the wrong things. Don't focus so much on crypto and look more at blockchain.

Once you understand blockchain you'll realise that the landscape is about to change. Blockchain is at a similar point to the internet in the 90s. People didn't get why they might need the internet. I mean if you have a phone, TV, magazines and newspapers why would you need the internet?

Once you understand some of the basic principles of blockchain, do some more research in that area and you'll find viable projects which can replace current systems we use everyday. They'll make things faster, cheaper, more efficient, less prone to error etc etc. After you've discovered these projects you have the chance to get it in early and the question turns to "how can I make money from this?" That's where the crypto attached to those projects come into it.

The whole "legitimate medium of exchange" is antiquated thinking. Things have long moved past that.

The internet had no competition.  Crypto's competition is real money.

If all currency goes to crypto in the future it will be stable and everyone will be using it at that time.  No one is missing out by not being in on it early.

[Flexacon]

The internet had no competition.  Crypto's competition is real money.

If all currency goes to crypto in the future it will be stable and everyone will be using it at that time.  No one is missing out by not being in on it early.

Not all cryptos are in competition with or trying to sideline "real money". Again do some research that doesn't revolve bitcoin

[Humble Narcissist]

Not all cryptos are in competition with or trying to sideline "real money". Again do some research that doesn't revolve bitcoin

Then what are you investing in?  There's no there there.

[Flexacon]

I def agree with a lot of this regarding blockchain as being useful, but once widely used and more standardized will there be profit in it for small investors/will there be a need to raise capital?

The recovery of Bitcoin ransom is a big reason for the fall IMO...FBI accessed the "private key" - as I've said before BTC is port based and can easily be blocked/tracked/accessed at the ISP level.

https://www.cnbc.com/2021/06/08/bitcoin-btc-price-slides-as-us-seizes-most-of-colonial-ransom.html

Using ETH as the example. There is staking which will allow longer term profit and help negate the need to raise capital.

Again a crypto like ETH can avoid some of the pitfalls BTC faceed. Simplest way to think of ETH is as something that helps maintain a decentralized blockchain. A blockchain that could potentially be at the centre of everything! You can have wrapped $, Fedcoin, oil, btc, whatever using the network.

[Flexacon]

Then what are you investing in?  There's no there there.

I've been very open on here about what moves I've made and plan to make. And yes I did predict the crash 

[French]

I'm full ADA and doing locked staking on it now.
Waiting for Cardano big bang revoluçion and a capitalization of $500 billions

[IroNat]

You haven't done enough reading, or have been looking at the wrong things. Don't focus so much on crypto and look more at blockchain.

Once you understand blockchain you'll realise that the landscape is about to change. Blockchain is at a similar point to the internet in the 90s. People didn't get why they might need the internet. I mean if you have a phone, TV, magazines and newspapers why would you need the internet?

Once you understand some of the basic principles of blockchain, do some more research in that area and you'll find viable projects which can replace current systems we use everyday. They'll make things faster, cheaper, more efficient, less prone to error etc etc. After you've discovered these projects you have the chance to get it in early and the question turns to "how can I make money from this?" That's where the crypto attached to those projects come into it.

The whole "legitimate medium of exchange" is antiquated thinking. Things have long moved past that.

Yes, I read about blockchain.  And yes, I know there are lots of variations on the types of "coin".

Everything your mentioning is at this point "pie-in-the-sky" and huckster talk to sell suckers into being the "Greater Fool".

It could happen, it might happen, but it hasn't happened yet and it might not happen.

Just like those flying cars predicted 60 years ago.  We're still waiting on those cars not to mention nuclear fusion.

So, you are speculating on the future.  There is nothing wrong with that.  You might be the one to get hit by lightning.

Someone has to get hit.  Someone has to win the Powerball.  Why not you?

[Flexacon]

It could happen, it might happen, but it hasn't happened yet and it might not happen.

You're wrong again. It's happening, it's already started. Your point of view is one that's stuck in 2017

We get why you're salty though

Better to act like it's "pie-in-the-sky" than deal with the reality that you've missed out, or accept that all this is beyond your ability to comprehend.

[Bindare_Dundat]

Yes, I read about blockchain.  And yes, I know there are lots of variations on the types of "coin".

Everything your mentioning is at this point "pie-in-the-sky" and huckster talk to sell suckers into being the "Greater Fool".

It could happen, it might happen, but it hasn't happened yet and it might not happen.

Just like those flying cars predicted 60 years ago.  We're still waiting on those cars not to mention nuclear fusion.

So, you are speculating on the future.  There is nothing wrong with that.  You might be the one to get hit by lightning.

Someone has to get hit.  Someone has to win the Powerball.  Why not you?

Guess that money in my back account from trading and investing in crypto was a waste of time. Thanks. Appreciate your input.