Yep, bitcoin broke 60k! I'm selling at the next psychological barrier before 70k.
Investments Thread
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HODL gang anyone?
Best time to dump into cryptos if you haven't already
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Yes, HODLing, just as I'm HODLing all my tech stocks that tanked like hell…
Also, fuck elon musk. -
1/3rd of my crypto network got wiped out today. Never a bad time to buy more
What Musk said wasn't entirely false nor does it make bitcoin bad in any way. Proof of work as a concept behind bitcoin surely has flaws wrt energy consumption and centralisation than proof of stakes. Plus the crypto fall wasn't entirely his fault. It was bound to crash sooner or later
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All true, but a while ago he was downplaying the environmental effects of bitcoin. He's just manipulating the price of bitcoin. It was just a pump and dump for him.
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is gaining lots of legitimacy because financial institutions are buying bitcoin now.
Pretty sure that was against the concept of cryptos.
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I don't think he has sold yet judging from his recent tweet about diamond hands. Well if he did then he is undoubtedly an A grade a-hole.
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All true, but a while ago he was downplaying the environmental effects of bitcoin. He's just manipulating the price of bitcoin. It was just a pump and dump for him.
That's why I sold within minutes of his tweet.
Elon was by far the most powerful pumper, him attacking it means at the very least the growth period is over for a while.
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The tech is way ahead and governments are yet to figure out how these things can be used. Bitcoin, if its not used as a currency, can perhaps be used as something else altogether. I guess we'll have to wait and see how the tech companies are going to play around in the crypto business
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And…we're back!
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@xan:
And…we're back!
Eh, I'm staying out for good this time because I hope the global warming concerns are properly addressed in the future, and that's going to take its toll on Bitcoin's value (if it isn't banned outright).
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There would be a conscious effort in decentralising bitcoin and consider around the power issues as well hopefully. Hell I don't care, I am investing in ETH and ADA majorly both having their own utility
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I bought some pieces of different coins a few years ago, but after learning about the environmental impact I sold it all off last week. Looks like I got out while the getting was good, seeing how Coinbase crashed and prices sunk. Hopefully there's a way to improve the carbon footprint of these things and not totally bankrupt the people still holding onto some.
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this crypto shit is so stupid i hope it gets banned (china i'm counting on you)
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I'll say ten years down the lane a major chunk of cruptos won't survive except for a select few like bitcoin and ethereum. The others would be replaced by newer 4th or 5th gen cryptos. Cryptos are surely there to stay though
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Yeah, cause people like gambling, it gets addictive.
Most Cryptos dissappearing sounds like terrible news tho, I don't think anyone would get their money back.
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@crugger:
did u invest in forex?
No, did you?
How much did you make?
(Are you a bot?)
Edit: it was a bot.
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Anybody who has interest in blockchain technology, especially bitcoin, and want to assess the technology and the chances of adoption themselves, there is a free MIT course on youtube, and the lecturer is Gary Gensler, chairman of the SEC.
Pretty levelheaded assessment by someone who is primarily an expert in finance and only superficially understands computer science, meaning you do not need to get too deep into the science. -
Now all cryptocurrencies will disappear and there will only be forex. There is also a system of mutual funds and ETFs https://wealthtender.com/insights/investing/etfs/archive-active-etf-basics-active-etf-vs-mutual-fund/. An investor buys ETF shares on the exchange, just like a standard stock, and in exactly the same way. While most mutual funds are actively managed, there are quite a few index funds. Although most ETFs are passively managed - tracking a chosen index - there are also a number of actively managed ETFs. Issuing and redeeming ETF shares is fundamentally different from issuing and redeeming mutual fund units. When investors invest in a mutual fund, they transfer money to the fund's management company, which then buys securities or issues additional units with those funds