Cryptocurrency Daily Discussion - January 24, 2022 (GMT+0) |
- Daily Discussion - January 24, 2022 (GMT+0)
- I mean this in the absolute nicest way possible, but some of you just need to get a job
- Warning: Coin Bureau's YouTube channel has been hacked and the hackers have released a new video telling everyone to buy a new scam coin
- A notorious market bear who called the 2000 and 2007 crashes unloads on the Fed for creating 'the most extreme financial bubble in US history' — and warns of a 70% drop in the S&P 500 just to return to normal valuation levels
- Anyone else not really scared?
- This sub when prices go up: They will go up forever 1M EOY. This sub when prices go down: It's going to 10k I told you so.
- Guess who doesn't care about crypto price crashes? The investors pouring billions into the sector, the hundreds of banks about to offer trading services to their clients, and devs actually building better, faster, cheaper alternatives to what is being used today.
- For everyone who is freaking out right now I would like to point out that in the last year Bitcoin is up 4.42% while Amazon is down 15%
- Do you ever just scroll through this sub, especially when times are like this, reading the advice and think... OH JUST STFU ALREADY!!!
- You should always save a certain amount of money and keep it for these situations when market prices are down.
- You're gonna hate this
- Biden Administration to Release Executive Order on Crypto as Early as February: Report - Just great. Just where the Government doesn’t belong
- JP Morgan Chase has closed down the bank account of Uniswap's founder. He says it's simply for working in crypto.
- Everyone is right in a bull market. Influencers are not your ally. Spend your attention wisely!
- Latest Solana outage leave users liquidated
- If your portfolio is bleeding right now and you feel bad about it, just remember: if you had bought ICP at the top, you'd be down 97.3% right now
- 70% of El Salvador population already use Bitcoin (over 4 million people). Only 2 million people have a bank account. In just a few months, Bitcoin has banked more than 2 million people excluded by the banking system for decades
- Why most of you won't get rich from crypto?
- You will know when the bottom is after you miss it
- 2018 vs 2022
- You're gonna love this
- For those who sold in November 2021, how did you know that was a good time to sell?
- The Wednesday news is already priced in
- Don't be sad because of the market crash, the time to get rich is coming
- Let's take a moment to share what we've learned from this crash.
- Stock market and bitcoin are being mentioned together in headlines
| Daily Discussion - January 24, 2022 (GMT+0) Posted: 23 Jan 2022 04:00 PM PST Welcome to the Daily Discussion. Please read the disclaimer 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.
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| I mean this in the absolute nicest way possible, but some of you just need to get a job Posted: 24 Jan 2022 03:34 AM PST It's no secret that a significant portion of this sub are small time investors, and while not inspirational, it's also no secret that it takes money to make money. I mean what I'm about to say as genuine advice, not to make fun of anyone, but a lot of people here really need to take a step back and look at the bigger picture. Every day we have people stressing and speculating over the day-to-day movements of their crypto, panicking over bear markets, asking "where should I invest this spare $50?!" in the daily. When in reality, they could see their portfolio do a 2x by working a few solid minimum wage shifts and dumping the paycheck into crypto. A nice 20% pump on the $100 you invested in your favourite alt-coin which you spent hours researching, still only leaves you with $20 profit. You could probably ask your mom for $20 and she'd give it to you. It might be a harsh truth, but crypto isn't a life-changing opportunity until you're working with a decent stack of money, until then, conventional money-making methods are faster and more lucrative (without the potential downside of investing!) It's not what you want to hear, but a couple hundred dollars in the market isn't going to make you financially free unless you're the crypto-embracing, second coming of Warren Buffett. Grinding out a real life job and dumping that money into crypto? That might just do the trick though. Important disclaimer/reminder: I mean ZERO hate to small time investors whatsoever with this post. You guys are learning essential lessons and gaining investing experience without the risk and potential downside of others with more skin in the game, and most importantly, small amounts of money can mean a hell of a lot more to some people than others. I'm simply saying look at the bigger picture, and make the most of your time. Crypto becomes more rewarding the more you can safely invest into it, typical jobs might not have the potential of crypto, but they will build you a base and give you a start way faster and safer. [link] [comments] | ||
| Posted: 24 Jan 2022 04:29 AM PST
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| Posted: 24 Jan 2022 04:23 AM PST
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| Anyone else not really scared? Posted: 24 Jan 2022 10:17 AM PST Don't get me wrong, I'm not jumping with joy either, but I was shitting myself during the 2018, March 2020, and May 2021 crashes while pretending to be okay… This time I don't really care. I'm a little upset I didn't set aside more cash to buy in a bear market, but looking forward to working and investing as much as I can if we go really low. I'm not happy we're going down but I'm also not shitting myself, just kind of whatever about it. If we go up from here, great 👍 I'll sell some. If we go down from here, fuckit I'll buy some. [link] [comments] | ||
| Posted: 24 Jan 2022 12:15 AM PST It's just fascinating that this sub, an actual sub that should support crypto, is always putting in the biggest bearish sentiment and FUD. Anytime the prices go down everyone here panics and starts their "I told you so". And put in targets of 10k. This sub is actually the place the most pessimistic about crypto prices. I get it that you don't want to have false hope and get shocked afterwards. But still you should prepare for the worst and hope for the best. And it's the exact opposite when prices go up. Then they think it's going to go up every day and forever. We are going to reach 100k in this run. That's just not how it is, green and red days are mixed up, we won't straight up shoot to 100k or so. We will suffer for that. [link] [comments] | ||
| Posted: 24 Jan 2022 08:44 AM PST Here's some food for thought. Major investors like VC and private equity funds, put their money into projects with a roughly five year time horizon (when they have to pay back their investors.) Literally billions of dollars have flowed into the crypto markets in January, 2022 alone. Temporary price movements have little to no effect on these investor decisions. As the old sports saying goes, hockey players skate to where the puck will be, not where it is now. Other trends point in the same direction. More and more banks are going to offer crypto trading services (watch out for those fees) according to industry stalwart American Banker (https://www.americanbanker.com/list/7-tech-trends-to-watch-in-2022-from-crypto-banking-to-biometrics). They do this because they project continued demand for these services, which requires them to spend money on infrastructure, marketing, It teams, to make it happen. As slow as banks generally move, the fact they are offering these services is a longer-term plus. Still not enough positive momentum? Consider which Blockchain/web 3.0/tokenization projects are actually making services better, faster, or cheaper (or will relatively soon.) The tech adoption curve starts out slow, but eventually sweeps upwards over time (no one knows how long it will take until there's mass adoption.) Crashes like this shake out weak projects, get-rich-quick traders (they'll be back when green days return, no doubt), and other fad chasers. That doesn't change the longer-term trajectory of the industry. [link] [comments] | ||
| Posted: 24 Jan 2022 08:11 AM PST
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| Posted: 24 Jan 2022 12:35 AM PST Surely I'm not the only one (maybe I am lol). You must know what I mean...... ...."Buy the dip" .... "The dip will continue, and I'm going to tell you why" . .... "This happened to me in 2020, and I'm gonna tell you about it" ...."HODL!!" ...."You said you wanted a dip, here it is!!!" ...."People!! Look at my chart, where I prove something to you" .... "We hate Cardano, and we are going to let you know!!" Newbies must walk in here, take a look around and their jaws must hit the floor. Lol This post suggests X... The next post is from some dude who has spent the last 2 weeks putting charts together "proving" X to be ridiculous. Just a harmless observation, no offence intended!! Anyways, I'm off to give the ShibArmy a piece of my mind...wish me luck. X [link] [comments] | ||
| Posted: 24 Jan 2022 04:00 AM PST And I did not do that, so don't be like me. Even though I said it before and even though I have written it now and even though I have been saying it to myself for the last 5 months greed has done its thing and I have not saved a single dollar, euro or anything like that for these situations. I was in profit with a couple of coins and I was telling myself that I should get a few hundreds there, few from other coin and just keep it in fiat or stablecoin or whatever, just save it for a dip or crash, nothing more, nothing less. Of course, I always invested using DCA tactics and I will keep doing that, but I thought I should have a certain amount of money for a really big dip or crash and don't touch it untill it happens. Anyway, don't be like me, keep some money in case of a drop, crash. This is the time when people are making money, investing and waiting for prices to climb up again. [link] [comments] | ||
| Posted: 23 Jan 2022 02:06 PM PST
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| Posted: 23 Jan 2022 07:22 PM PST
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| Posted: 23 Jan 2022 09:14 AM PST
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| Everyone is right in a bull market. Influencers are not your ally. Spend your attention wisely! Posted: 24 Jan 2022 09:32 AM PST This post might be a little too soon, or at least a little too raw, given the bloodbath we're seeing today. But I think it's important to remind folks of the lessons learned along the way here, one of which being -- managing our attention given to influencers. I've been in crypto since 2017 and have definitely shaved years off my life watching my portfolio rise and fall. But one thing that has steadily risen over the past 5 years, has been the increase of influencers on twitter, youtube, and other social media platforms. Insert picture of influencer with their mouth wide open; arrows and charts falling down; and a clickbait title of "Bitcoin to $0?!" The fact that you know exactly what im talking about is cause for concern. At the end of the day, these 'influencers' are simply seizing an opportunity to make money. A large interest in crypto is growing, and so, there's an opportunity to amass advertising revenue for these talking heads. For the vast majority of these channels, these influencers have 0 knowledge of what they are doing. They've simply googled "Technical analysis", watched other influencers, and then spit out their own content. The beauty of a bull market is that everything just goes up. It's hard to be wrong. To that end, these influencers have slowly gained your trust even though most are new to crypto themselves! But when things get tough -- your guess is as good as theirs. The difference is -- they're still making money off of your viewcount. There are a select few who exercise caution in price forecasting, but no one really knows. But these people *dont care* if you succeed or fail. And it's important to remember that; especially now. EVERY influencer loves this price drop because... where is everyone flocking to for help? To their channels. More volume, more revenue, more followers. These days, I spend most of my attention watching and reading about projects and their backgrounds as opposed to price forecasts (i.e., Crypto Bureau, etc). I also try to lean on 5 years of price action experience help determine when to buy and sell. This has worked far more advantageous than listening to influencers. To end, I'm hoping that at least 1 of you will take a step back and think about what caused you to hodl after seeing massive gains in 2021. Eventually, this drop and/or bear market WILL end, and we'll be back into up-only territory. Who will you be listening to when that time comes? [link] [comments] | ||
| Latest Solana outage leave users liquidated Posted: 24 Jan 2022 03:32 AM PST
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| Posted: 24 Jan 2022 05:02 AM PST That means it wouild need to increase in value x37 just for you to break even! I scraped the ATH prices of the top 200 coins, how much they're down since then, and when they reached that ATH from Coingecko to see if anything else even comes close. And well... yeah! Zcash is currently down a tiny bit more (-97.4%) and the ATH was in October 2016. If you're a bagholder from back then, you maybe should get used to the idea of selling at a loss at some point! Small Love Potion lost 97.2% in value - since July! Bitcoin and Ethereum are holding up quite okay - at least in comparison to others, they are down 51.5% and 54.6%, respectively, only 24 and 34 non-stablecoins in the top 200 are currently closer to their ATHs How's Doge doing? For some reason, I regularly see articles and posts here about how it's down so much since its ATH, does it really stand out negatively compared to others? Well... not really. It's down 82.5% - which is a lot! - but 54 coins in the top 200 are down further, quite a few other top 50 coins (like XRP, BCH, VET, ETC, FIL, THETA, and of course ICP) are down much further. Here you can see the whole data visualized, the size of the dots indicates market cap, so bigger dots = bigger coins. Let's hope we see more green again soon! [link] [comments] | ||
| Posted: 24 Jan 2022 02:59 AM PST
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| Why most of you won't get rich from crypto? Posted: 23 Jan 2022 07:55 PM PST This isn't a rant post, but a reminder that most people here won't get rich from crypto. I have seen tons of HODL and DCA posts during the past 1 year. They make sense to most of the new investors when you see the market retrospectively. It seems very lucrative and missed opportunity at the same time, when we zoom out and see Coin X making 50X gains, coin Y making 100X gains in a year. But there's another harsh truth taht seems to pop out when you zoom out on the charts. It's that when the markets plummet, then Hodling isn't easy and many people think that buying at such times is crazy. So, if you aren't in crypto for longer run, and invested already too much beyond your limits, then this volatile market if not for you. Invest what you can and never beyond what you can't, let the dust settle, markets will rise again sometime in future. [link] [comments] | ||
| You will know when the bottom is after you miss it Posted: 24 Jan 2022 04:08 AM PST The only way to know when the bottom is, is in hindsight after you have missed it and see everything start to gain in value again. So to those trying to time the market and not buying till the very bottom it is very likely that you will continue to wait for cheaper and cheaper prices and may very well wait for a price target that may never arise. This is exactly why you should be DCAing slowly into the market and keep buying more as it dips. Many people call this catching knifes but if you're smart about this I call it catching cheap sats. You may not time the exact bottom with this strategy but you will likely get close and when the inevitable market reversible occurs you will be happy. I will admit the market looks bearish and I do think there's a lot more red to come so I'm burning up the fiat miner and DCAing into my Cryptos of choice. I suggest you all do the same. Especially if you were rushing to buy in at ATH and now your Crypto of choice is half the price it should be 2x as attractive, assuming your investment philosophy has remained the same and nothing has changed about the underlying asset. Happy Dip Buying! Cheers! [link] [comments] | ||
| Posted: 24 Jan 2022 09:25 AM PST I am just going to write this for the people that are scared. I see a lot of you are thinking that it's going to zero. Can that happen? Don't know but I do know it can go very close to zero. I'm talking about your portfolio that can almost go to zero. In 2017 I bought for around $3000 which rose above $7000/8000. In 2018 it went into red numbers big time. My friends who helped me in the crypto world told me not to worry. Of course I worried shitless. Every day it went lower and lower. Trust me, it went down to $400/500. I said fuck this shit, it's all lost. So I took my loss and stopped being very active(didn't sell though). For example: I bought bitcoin($18k I think), chainlink($0.32), ($0.45)ripple, (cant remember but around 30 cents) ada and tron($0.03). We all know where most are even now. Im still up good but down huge since a few months like everybody else. Long story short: Hodl. Edit: for some people here below commenting and cry about everything, I can prove I'm not full of shit. [link] [comments] | ||
| Posted: 23 Jan 2022 06:46 PM PST
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| For those who sold in November 2021, how did you know that was a good time to sell? Posted: 24 Jan 2022 05:37 AM PST Like many im one of the people that held onto their bags even though I was up x7 on my portfolio. I'm thankful I'm still up x2.5 but man I should've sold earlier. However, I got greedy. Now I'm down almost 100k where if I sold, I could've bought back in now and doubled or tripled all of my bags. Anyway hindsight is 20/20. WE LEARN AND WE MOVE! For those that sold at or near the peak, what are strategies you used to know it was a good time to sell? One thing I can think of is to set a target on your portfolio and once you hit that, sell. No matter what. There will always be other buying opportunities as clearly evidenced by the market. [link] [comments] | ||
| The Wednesday news is already priced in Posted: 24 Jan 2022 07:44 AM PST As everybody knows there will be a big announcement on Wednesday that many think will result in big fluctuations in the crypto market. I am here to tell you that this news is already priced in, and now is the time to buy. Everybody who is anticipating bad news has already pulled out. This includes all of the whales, and it is a big reason the market is down. Do you think the whales are just sitting there waiting for a potential dump? What does that mean? It means that there are very few people left to pull out of the market (and make BTC drop further) after the announcement, regardless of what the announcement is. But if there is good news, they're ALL going to buy back in. So worst case, the market doesn't really move. Best case, we moon. Now is the time to buy. [link] [comments] | ||
| Don't be sad because of the market crash, the time to get rich is coming Posted: 24 Jan 2022 05:15 AM PST "Your profits are made when you buy, not when you sell.' Price of Bitcoin crashing. Great news. I bought BC at $6K and 9K. I will buy more if and when BC tests $20k. Time to get richer is coming" Yes these words were said by Robert Kiyosaki in a tweet, The author of rich dad poor dad Isn't it much better we will be able to buy crypto at a much cheaper price? I mean shouldn't be happier that crypto prices are getting less and less and in the end, we would be able to buy more and more of crypto? Always remember, it gets worse before it gets better. Good luck to you all [link] [comments] | ||
| Let's take a moment to share what we've learned from this crash. Posted: 24 Jan 2022 08:14 AM PST Don't comment if isn't something educational. If you don't agree we've crashed, just move on. Not trying to argue that. I think the first thing I can say is that I should've seen this coming. Most experts said that the rise of memecoins was a sign that the market was overinflated and a huge correction would be imminent. And a rise of memecoins we saw. 2 memecoins were in the top 15. Dogeelonmars made it to the top 100. So many different memecoins can be listed. You had new ones pumping every few days. Obviously hindsight is 20/20, but next bull run, (maybe it's in a few years) when coins with no use case start pumping 100x, it's a sign to start taking profits. Again, whether you think the market is gonna recover or not, I don't want to argue that. I want to just see what you guys have learned from this crash. [link] [comments] | ||
| Stock market and bitcoin are being mentioned together in headlines Posted: 24 Jan 2022 08:09 AM PST Stock market and bitcoin are being mentioned together in headlines Most of the headlines I've seen today about the stock market drop also mention bitcoins drop. I know a drop is not a good thing but bitcoin being taken seriously amid a possible economic upset seems like a good thing overall for crypto. It's not just an afterthought anymore and more people are starting to take crypto seriously. People interested in stock market news are seeing crypto being mentioned more and more too so exposure outside of memecoins is increasing. That's how I see it but let me know your opinions. [link] [comments] |
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