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

[obsidian]

You have to buy bitcoin to buy most altcoins, if you sell you sell most likely also for bitcoin.
That could be the reason why they move together. + Is it not true that the price is calculated first in BTC and after that in $,€ etc. ?

Not anymore. That's how it used to be. Now you can buy alts directly.

The reason they all dump is because idiots get scared and panic sell when they see Bitcoin drop because they think the bull run is over. And meanwhile whales come in and buy their weak hands.

[El Diablo Blanco]

Sooooo....    why aren't we making a GetBig coin then?

we should.  I read about some black guy that jokingly created a Thug coin in like an hour.  At the end of the first day it was worth almost $100M.  He was laughing at what bullshit this market is.  That Moonshot or whatever coin that is came out and went up over 40,000% yet the price was .00000000008.  Haha.  WTF.

[obsidian]

we should.  I read about some black guy that jokingly created a Thug coin in like an hour.  At the end of the first day it was worth almost $100M.  He was laughing at what bullshit this market is.  That Moonshot or whatever coin that is came out and went up over 40,000% yet the price was .00000000008.  Haha.  WTF.

There's bullshit like that. But there are many legitimate cryptos that will not go anywhere and will change finance.

You can find scams in all walks of life. One company offers great remodeling while another gets paid a deposit upfront and never show up to do any remodeling.

[Flexacon]

George as usual gets to the bottom. Whales sent Bitcoin and Ethereum to exchanges and then withdrew it again which caused panic selling. A bank known for manipulating silver for which they were fined is now releasing FUD about people selling Bitcoin for Gold. After one day? I would they know this so quickly? Don't fall for the FUD. Be smart. HODL that shit forever and take little withdrawals if you must at higher prices.

I posted a day or 2 before the dip that bitcoin value was dropping and gold was climbing, so I don't think it's FUD as it was already in the news. But yeah even if you bought BTC at 60K you'll probably x1.5 in 6 months if you hodl.

[Bindare_Dundat]

Not anymore. That's how it used to be. Now you can buy alts directly.

Exactly what I thought.

[BossBoss]

Not anymore. That's how it used to be. Now you can buy alts directly.
..

Yeah, it is more user-friendly and more convenient because nobody understands why they should buy btc first.
What you see is:

$>Alt

and not

$>BTC>Alt
or
$>Tether>Alt

But thats how i think it still goes. Even if you can buy your favorite alt directly with $.

[polychronopolous]

Which is why I'm not shook.  It's a coordinated attack on Bitcoin.  This dump happened sooner than I thought it would, but I was expecting a huge dump sometime soon. 

I'm not selling, I'm buying more crypto at a huge discount.

Smart man.

This market requires a more composed temperament that many of our overly skittish getbig brethren simply do not possess.

[Flexacon]

Yeah, it is more user-friendly and more convenient because nobody understands why they should buy btc first.
What you see is:

$>Alt

and not

$>BTC>Alt
or
$>Tether>Alt

But thats how i think it still goes. Even if you can buy youre favorite alt directly with $.

If people buying can't understand that $>Alt no longer makes it decentralized then they kinda miss the whole point of crypto.

Also people need to do their due diligence and understand that on some trading platforms you're not actually buying an Alt directly, you're buying the Alt price the platform is willing to offer you at that time and they typically get that price from exchanges which use $>BTC>Alt.

This is also all without including the whole needing to take offline to truly own it route.

[gib]

I posted a day or 2 before the dip that bitcoin value was dropping and gold was climbing, so I don't think it's FUD as it was already in the news. But yeah even if you bought BTC at 60K you'll probably x1.5 in 6 months if you hodl.

Both Gold and BTC will climb and act as a defence to fiat currency devaluation.

[FitnessFrenzy]

$ 41,910.14

very strong BTC comeback

[LurkerNoMore]

we should.  I read about some black guy that jokingly created a Thug coin in like an hour.  At the end of the first day it was worth almost $100M.  He was laughing at what bullshit this market is.  That Moonshot or whatever coin that is came out and went up over 40,000% yet the price was .00000000008.  Haha.  WTF.

Yeah, that is what I meant.  We could use Arce's photo on the coin.   
Did that black guy get to keep the $100M or whatever?

But what happens when some new coin comes on the market and gets a small blow up and then... nothing?

[BossBoss]

But what happens when some new coin comes on the market and gets a small blow up and then... nothing?

Then the coin is dead..and it will stay dead bec. it is a shitcoin without development or future.
-----------
Best would be if you fork a already good coin like zcash or something like that.
But you have to develop something..you need a roadmap with your plans

Only a picture and a good story is most likely not enough.

[sync pulse]

If you are going to accept the risk of speculating on exchange based financial instruments...Why not do stocks, bonds, and commodities?

[Humble Narcissist]

If you are going to accept the risk of speculating on exchange based financial instruments...Why not do stocks, bonds, and commodities?

Because that would be smart.

[BossBoss]

If you are going to accept the risk of speculating on exchange based financial instruments...Why not do stocks, bonds, and commodities?

Why not do both?

[SOMEPARTS]

You'll notice they did this right after Coinbase went public so they can be more easily forced to comply.



"...detailed as part of President Biden's proposed American Families Plan which also requests $80 billion in funds to modernize the IRS, which includes "hiring new specialized enforcement staff, modernizing antiquated information technology"


Treasury Calls for Crypto Transfers Over $10,000 to Be Reported to IRS

https://www.bloomberg.com/news/articles/2021-05-20/treasury-calls-for-crypto-transfers-over-10-000-reported-to-irs

[Army of One]

oi think that's changed quite a bbit over the last few years wiith things like weeble and robinhood. but I'll look into it

Who's Justin sun?

Anyone know how they calculate the Fear/greed meter?

Tron Ceo

[Mayday]

That part didn't make much sense to me either, but someone posted this info last night and even gave the time and dip price fairly accurately. Who knows what Elon is doing with crypto behind closed doors.

Tesla is also getting fucked with by Michael Burry. He's taken a $500million short position against Tesla (almost half his portfolio). Wolves are circling around Elon.

There may still be another barrage coming from China against Elon.

Yeah I thought it might have been Elon aswell but he didn’t use leverage on his personal holdings or Tesla’s as far as I am aware?

It was utter savagery the other night and comparing that to when the big boys have done it i could believe in the China story.

I saw Justin Sun’s name mentioned because he was leveraged but dunno who he pissed off to get that ‘hit’ out on him in crypto. Apparently he got down to 900M underwater and they couldn’t get it done and he bought the dip. If that story is true they doubled his wealth lol.

I saw some data showing the hash rate took a hit at the time of the attack, I’ll have to see if I can find it again. Remember like the last ‘dip’ where China just happened to shutdown and trigger a drop.

For all we know Elon is working with China. I mean, he tweeted all that shit when the market was hurting then makes fun of everyone afterwards bragging ‘diamond hands’.

[Pray_4_War]

I have a limit order in at $22,000 just in case the BTC price takes another giant shit.  Just above an important previous all-time high level.

Eat shit no-coiners!

[Zillotch]

Eat shit no-coiners!

cryptos only exist to facilitate the building out and adoption of the blockchain... a necessary hellscape from which there is no escape.

u'll notice in the bitcoin thread.... dudes tripping over themselves... giddy.. deluded by greed - so deluded by greed that they cannot see the forest for the trees - cant see that they are helping to construct their own prison (lol).

that is by design... crypto appeals to that baser instinct – greed... a mechanism by which man is being drawn to his end.

bitcoin will evaporate

[Pray_4_War]

The technology prison coming whether we want it or not.  I'd rather have some extra shekels when it comes.

[Zillotch]

some extra shekels

shekels matter not to a slave.

[Mayday]

shekels matter not to a slave.

Can you elaborate on the ‘slave’ thing but do it properly, not some lame answer.

I actually want to understand what it is you mean because right now the economy and leaders are the slaves of the plebs. Unless they print money and give it to people who are not working, we set the place on fire.

[Bindare_Dundat]

shekels matter not to a slave.

Whats with all the cryptic blabber. Just say whats on your mind 

[polychronopolous]

Australian Minister Says Government Has ‘No Issue’ With Crypto Investment

Senator Jane Hume also said cryptocurrencies are "an asset class that will grow in importance."


An Australian federal minister says the government has no objection to people investing in crypto assets, though she also warned of the risks.

   
 As reported by the U.K.'s Daily Mail, Senator Jane Hume, the minister for financial services and the digital economy, said, "We take no issue with consumers investing in cryptocurrencies."
   
 She warned that investors should be aware of the risks, saying cryptocurrencies are "volatile, high-risk assets."
   
Speaking at the Stockbrokers and Financial Advisers Association Conference in Sydney on Thursday, Hume acknowledged that crypto assets are unregulated.
   
"But like investment in any asset class, they are subject to Australian law, including our market conduct, know-your-client and tax laws. It is not a free pass," she said.
   
Hume further stated that cryptocurrencies are "not a fad," adding that they are "an asset class that will grow in importance."

 https://www.coindesk.com/australian-minister-says-government-has-no-issue-with-crypto-investment