Cryptocurrency Daily Discussion - October 16, 2021 (GMT+0) |
- Daily Discussion - October 16, 2021 (GMT+0)
- Holy shit the greed here is real.
- To the people who held since May crash, thank you.
- Don't mind me. I'm just here to remind you that 3 weeks ago Jim Cramer begged you to sell
- Bitcoin investor schoolboy kidnapped as blackmailers demanded £10,000 for his return. Moral of the story - never tell people how much crypto you have.
- Michael Burry deletes his Twitter after asking how to short Bitcoin - days before it then smashed through $60k
- I am finally almost green, I first entered crypto during 64K BTC and it is one amazing roller coaster
- Unpopular Opinion: I hate Eth and I hope it will be replaced with one of the alt coins.
- 250,000 traders sign petition to add Shiba Inu (SHIB) on Robinhood - The Double Whammy Effect
- We Have Reached 'Extreme Greed' On Market Sentiment
- Without Ethereum, crypto adoption wouldn't be a 10th what it is now.
- If a crypto millionaire is a 'whale', what are you?
- Ladies and gents, a raging bull cycle is upon us, we're all thrilled about it, BUT...
- My professor is an early adopter who probably never sold.
- If you're feeling FOMO right now, chill. Don't dump your $10k emergency fund into BTC chasing the pump.
- Now is NOT the time to tell your friends & family about your crypto investments
- Crypto Marketcap breaks its ATH (all-time-high) with over $2.6 Trillion valuation (more than doubles in value in less than three months, from a previous low of $1.25 Trillion back in late July)
- Algo can hit $5.00, BTC can hit $100,000, and my dad can come back from the store with the milk after 10 years.
- You can tip and get tipped BAT on Reddit (for those unaware)
- Crypto Entering A Parabolic Phase. Where We Are At In This Bull Run.
- Crypto Pays for Guitar.
- This is what we've been waiting for, the craziness of the market is about to start for real.
- Had to sell out about a month and a half ago, but it was worth it.
- Micheal Burry deleted his twitter account lmao. Bears suck! Saylor has bigger balls than anyone else from The Big Short. And over 4 times the profit Burry posted in 2008.
- Financial Advice - JUST DO NOTHING in this bull run
| Daily Discussion - October 16, 2021 (GMT+0) Posted: 15 Oct 2021 05:00 PM PDT Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating. Disclaimer:Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here. Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams. Rules:
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| Holy shit the greed here is real. Posted: 15 Oct 2021 10:55 PM PDT If you are looking to buy in now is a horrible time. When the greed becomes insane (as it is now just look at the front page right now) you should simply wait a few days for everything to settle back down first. All I see when the market is green is posts about how we are just at the start of a bull run and Bitcoin will be millions soon and we will all be rich. But literally every time everything comes back down in a few days. If anyone is seriously considering buying in now just wait a little while first before we get in. But also mind you fuck me I don't know jack shit about this lmao [link] [comments]  | ||
| To the people who held since May crash, thank you. Posted: 15 Oct 2021 08:42 AM PDT Whoever you are, wherever you come from, whatever you held, you refused to sell and stood your ground. You believed in the tech and not the words of those who doubted it. You deserve these gains because of that, and I for one thank you for holding the ground, I can hardly imagine what would've happened if we went to 20K or below. People say they're not in it for the tech but they don't realize it until they spent a few months in the dip, they probably didn't invest for the tech but they held it for the tech. I for one believe in it and imagine a decentralized human civilization within the next century, we are the pioneers of the next tech revolution and it wouldn't be possible without you. [link] [comments]  | ||
| Don't mind me. I'm just here to remind you that 3 weeks ago Jim Cramer begged you to sell Posted: 15 Oct 2021 11:15 PM PDT Everyone in party mood but don't forget that Mad Money moron who somehow still has a job giving bad advice after bad advice about crypto for years. On September 20 he was trumping up Evergrande China FUD based on unproven speculation that Tether was holding Chinese commercial paper and begged everyone to sell. "I know the crypto-lovers never want to hear me say sell, but if you've got a big gain as I did, well, I'm begging you to. Don't let it become a loss. Sell some, stay long the rest, then let's wait and see if China changes its attitude toward an Evergrande bailout." "The problem with tether is that it's backed by various holdings and roughly half of those are commercial paper — short-term loans — and much of that is believed to be, but we don't know, Chinese commercial paper." How about STFU if you don't know instead of creating a dramatic story out of what you don't fucking know? Quick update on that China FUD. Bitcoin still doesn't give a fuck about China. Better luck next time. [link] [comments]  | ||
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| Posted: 15 Oct 2021 07:58 PM PDT First joined the crypto space during BTC 64K and boy was that a tough ride down, but thanks to this sub and the people here I have learnt to HODL and that my emotions are what will get me in trouble. So I held through my first great fall and it was definitely horrifying. I am glad I stuck through as my ATH purchases will finally break even. Worry not, I am a sane individual and did DCA in but it is an amazing feeling to see I am finally back where I started. After the experience, my first fall and soldiering through I have come to an understanding of why people absolutely love the bear and the dips. Thinking back, I struck luck to be able to buy some BTC at 28K, 30K and 35K. No one knows if we will be able to see BTC at that price again but I for one am remarkably content to have bought them at that price when we are finally closing in 64K BTC. For those of you who held like me kudos to you and thanks for HODLing together that made it a lot easier. Crypto is definitely a great place for an adrenaline junkie like moi. [link] [comments]  | ||
| Unpopular Opinion: I hate Eth and I hope it will be replaced with one of the alt coins. Posted: 15 Oct 2021 09:07 PM PDT Tonight, I was trying to withdraw my eth from ronin to metamask. The transaction kept failing and ended up taking all my eth worth $63 usd. Now the eth that was supposed to be my gains is stuck and it makes me feel that it is not even worth of withdrawing anymore. ($290 usd of eth) Maybe people will laugh at me for how small it was and I don't care. I'm a small fish and it was a waste of money for me, hence it's a big deal. This is why I find it hard to understand why eth is still skyrocketing while this ridiculous gas fee situation is an issue to be not overlooked. I am new to crypto so please enlighten me. [link] [comments]  | ||
| 250,000 traders sign petition to add Shiba Inu (SHIB) on Robinhood - The Double Whammy Effect Posted: 15 Oct 2021 08:23 PM PDT
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| We Have Reached 'Extreme Greed' On Market Sentiment Posted: 16 Oct 2021 01:36 AM PDT
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| Without Ethereum, crypto adoption wouldn't be a 10th what it is now. Posted: 15 Oct 2021 08:41 PM PDT Likely even r/cc would only have 300K Max members. It made possible the glorified ERC-20 token, and protocols to make creating your own crypto stupid cheap. From an investment standpoint. The amount of shitcoins that used it as tokenized shares for whatever vaporized miracle they were claiming to be apart of is unfathomable. The quick profits and unimaginable turn around on creating shitcoins drove more hype to create more shitcoins, and the end around caused an explosion of gossip, and rumors that lead to bullrun on crypto. The machine just didn't stop there. Smart contracts led to NFTs. It kept going. We really owe a big portion of our existence around cryptocurrency to Vitalek Buterin, and the genius investors that helped him make it happen. . [link] [comments]  | ||
| If a crypto millionaire is a 'whale', what are you? Posted: 15 Oct 2021 01:44 PM PDT I think i'd be like a crab or something, although maybe that's being a bit big-headed - perhaps a shrimp, although i think even that might be too large for my portfolio to be compared to. Plankton? Or like one of those microscopic larval stages of larger fish? Or maybe just krill, because they're eaten by whales? And if the whales decide a project is worth pulling out of, my portfolio gets swallowed up and digested? What do you think? Which sea-dwelling creature would you compare yourself to if only considering your portfolio? Actually, no. I think I've got it - Blobfish. I'm the blobfish of crypto [link] [comments]  | ||
| Ladies and gents, a raging bull cycle is upon us, we're all thrilled about it, BUT... Posted: 16 Oct 2021 01:22 AM PDT But do not forget to control your emotions, we can't say this enough because the fomo will be insane. Some coins you never expect to moon will moon, some other coins not so much, scam projects will be endless, shills will be endless, people will chase the pump and the greed will be extreme, you will feel like you missed out, you will regret not buying cheaper, or not selling on a pump. Just remember to not let your emotions dictate the decisions, keep emotions in check and decide logically, it is truly a tricky market we are in, good luck to everyone! [link] [comments]  | ||
| My professor is an early adopter who probably never sold. Posted: 15 Oct 2021 06:19 AM PDT I'm a 3rd year college student, and I recently had a professor who bought into Bitcoin back in 2010. He can't tell us how much, but it was obviously a significant amount. How do I know? Because every year, he gives a crypto seminar and gives away Bitcoin to all the students who send their wallet. Last year, there were about 350 students in the seminar, and he gave us each 10 dollars. So clearly, he's not hurting for cash. For a few years, he even gave out physical bitcoins (if you don't know, physical bitcoins are hardware wallets with 1 Bitcoin on them that look like an actual coin. Very cool) to a few of the lucky students that attended. He also helped spread adoption by writing a book called "Bitcoin for the befuddled" way back in 2013 to explain blockchain in a simple to understand way. And now he is the editor of a blockchain technical development journal, and is implementing a blockchain degree concentration at the university. People like this are how blockchain really gets adopted, not by banks and corporations co-opting the technology. There isn't really a main point, just wanted to share a cool story about an early blockchain adopter. I guess I would just say to have conviction in your beliefs and success will come. ETA: The journal is called "Ledger" if anyone wants some reading. ETA2: For everyone saying I should check the blockchain for how much he has, I did and the txn looks like it originates from a $1k purchase from an exchange. So not connected to his real wallet at all [link] [comments]  | ||
| Posted: 15 Oct 2021 11:16 AM PDT Instead what you should do is take out a home equity line of credit against your house so you can drop $100k into BTC chasing the pump. I would recommend a home equity line of credit instead of a home equity loan. They're generally interest-only payments for the first 10 years, then pay back interest and principal in the following 20 years. Whereas a home equity loan will require principal payments alongside interest immediately. Rates are generally low, in the ballpark of 3% to 5%. If you lose your house, you still have your $10k emergency fund to drop on black in Roulette. This is financial advice. [link] [comments]  | ||
| Now is NOT the time to tell your friends & family about your crypto investments Posted: 16 Oct 2021 02:30 AM PDT A lot of stuff in cryptoverse is pumping heavily last few days. BTC is going towards ATH, ETH is on its way to set new records (my poor LINK is a now stablecoin) and so on. Now is not the time when you want to show crypto to your people. Now is the time when you shut your mouth about it, lay back and see your investments go up while you sip on tap water and eat that 1$ ramen soups. When people start getting in at ATH bad things can happen and introducing them at such time is in my humble opinion a big no-no. [link] [comments]  | ||
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| Posted: 15 Oct 2021 05:25 AM PDT Just because something can happen doesn't mean it will. Jokes aside, yes - chances are at least 2/3 of the things I mentioned will in fact come true. Regardless, I find these posts so silly, and am generally surprised how many "journalists" or "analysts" end up making entire articles based on what can happen. Of course it can! I can literally make up any useless bullshit and pull any number out of my ass and say it can happen - cause in the grand scheme of things, anything is possible. Maybe one day crypto journalism will actually end up being less of a clickbait fest. Anyways miss you dad I'm sure the milk is bad by now but its ok we forgive you. [link] [comments]  | ||
| You can tip and get tipped BAT on Reddit (for those unaware) Posted: 15 Oct 2021 09:19 PM PDT
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| Crypto Entering A Parabolic Phase. Where We Are At In This Bull Run. Posted: 15 Oct 2021 02:10 PM PDT
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| Posted: 16 Oct 2021 02:19 AM PDT People! The candles are green everyone is delighted, it looks really good, it feels really good. I'm over the moon with the amount the Markets gone up. However, Im taking a small bit of profit, not much, just a slice off the top. Probably about 5% of my Portfolio as its up 100%. Why? Because the Fear and Greed index is at an all time high. Yes, this could go on for another month, yes, it could end in 5 minutes, who knows. What I do know is right now, I can take a little bit of profit. Most who have been through the May crash will tell you they should have sold some or all when it was up. Because the worst thing is saying, I could have sold and made X amount. But if you take a little bit, it makes it that much easier to bear when the dip happens and yes it will happen. And the little bit is quick to replace itself through DCA and if the Market keeps rising. I've taken something and bought myself that Electric Guitar I've always wanted. I can play it when the markets are Red and I need some distractions. Do what you want. I know you will anyway but if you don't take at least a small something, you will probably regret it. If the whole market crashes we're all F***ed anyway. At least I'll still have my Guitar. But yes I really, really need lessons. 🤘 [link] [comments]  | ||
| This is what we've been waiting for, the craziness of the market is about to start for real. Posted: 15 Oct 2021 02:03 PM PDT This is no financial advice as obligatory. Bitcoin just casually crushed the 60k and is heading to a new moon and It's taking the whole market up. Soon once again we will see alts going 10x 20x hell even 100x up and chasing these coins will be the biggest mistake you could make. It's gonna be an emotional rollercoaster for everyone. Because of FOMO people will start to trade, but don't forget the best strategy is always just to DCA. Timing the market is hard even if it seems pretty easy if you look back. Don't think that you are the genius that's gonna beat the market. As the saying goes, time in the market beats timing the market. Even if you are new, it's most of the times better to hodl your coins, except if you have bought shitcoin to start with. If I would have just hodled the first coins I bought instead of trying to trade, my portfolio would have a been much bigger now. The crazy gains are gonna get the masses to concentrate on crypto.I can't wait for the headlines to start talking about bitcoin and crypto again, that will go on for weeks which will hype the market even more. Buckle up, we are in for a hell of a ride. Believe in your research and don't invest in shitcoins. And yes I had a lot of hopium. [link] [comments]  | ||
| Had to sell out about a month and a half ago, but it was worth it. Posted: 15 Oct 2021 06:05 PM PDT I had roughly 5k saved up in crypto that I recently sold off due to hard times. It's been a pain in the ass to watch things go up the way they have and to not be able to see any more gains. But with the crypto I sold ( eth and algo ) I was able to pay for the classes to get a cdl to better myself. With a cdl I can make so much more than as a construction laborer. I'll also be able to re-invest what I initially had saved up a lot quicker than I had before. I still think a lot of projects have the potential to grow by a LOT and still help me reach retirement earlier, and I'm definitely going to be getting back all my sweet, sweet ETH and Algo. But while it sucked initially to decide to cash out, it helped me do something to better myself and give me a better future. I'm so grateful for crypto. [link] [comments]  | ||
| Posted: 15 Oct 2021 10:53 PM PDT They made a movie out of Burry, who gets one out of a 100 calls right, and somehow is celebrated as a role model by millions because of Hollywood and too many kids started believing Big Shorts were the way to go. Truth be told, its all about the Legendary Longs. Burry has been consistently wrong on hundreds of calls including crypto, back in may he called the inverse H&S wrongly, and just last week called to short crypto and the market has rallied more than 10% since then, as the ETF inches closer. Shorting last week is just peak middle bell curve thinking. He literally embarrassed himself so much on Twitter and became the laughing stock of everyone, that he seems to have deleted his account now. Micheal Saylor on the other hand... since everyone including Wall Street loves numbers, let's just look at it purely from a monetary $$$ perspective, in 2008 crash, Burry made $100m and a total profit of $700m for his Scion Capital. MSTR on the other hand is up by over 3 Billion in on their investment. Way out of your league, Big Shat Mr Bear. Real balls is not in predicting crashes, but taking long positions that are way ahead of their time. They turned a sissy Burry into a wall street legend. The dude has no balls, not even to stand by his own conviction. If anyone tries to counter Burry's weak arguments, they end up getting blocked. Way to go Mr. Bear. Saylor just pulled off one of the most legendary investments of all time. [link] [comments]  | ||
| Financial Advice - JUST DO NOTHING in this bull run Posted: 15 Oct 2021 10:12 AM PDT The best investing strategy is and will always be BUY and do absolutely NOTHING. You may hear stories of people trading their way to riches, but that only happens to less than 1% of people and my guess is their luck eventually begins to run out and they end up back where they started. People are trying to sell this short term top and buy back in on a dip may never get the opportunity and miss out on huge returns. Time in the market is better than timing the market. There is a reason most actively managed portfolios rarely beat passively invested ETF portfolios. Invest for the long term and not the short term. Don't make emotional irrational trades when your coin moves 20% in a day and panic sell. JUST DO NOTHING. Not only does this give historically greater gains, but it is a much less stressful strategy as well. #HODL [link] [comments]  |
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