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BitCoin falling like a Dotcom


joeken24

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2 hours ago, tshile said:

Yeah these have been floating around all day in group chats 😂 

 

hope some of you have figured out how to ride the eth waves. Tons of money to be made doing that. 

 

Have you figured it out yet? If so, clue me in cause I've just been holding the entire time. 

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30 minutes ago, Hersh said:

 

Have you figured it out yet? If so, clue me in cause I've just been holding the entire time. 

It’s feel. I don’t have specific algorithms for it. 
 

but yeah it tends to ride the stability of Bitcoin but swings in larger %. So like last spring or whatever if you bought when it dipped below 2k and sole when it went over 3.8k+… you were making 2x on it. 
 

this time it was like 2.5k. I’m guessing we’re on the way up. If you snagged some r maybe sel half of it around 4.2, then see what happens. Someone’s always predicting a new boom so hedge yourself and sell half. If it goes down, buy back in with that and have even more. If it goes up you’ve got more to sell…. 
 

the problem is no one wants to sell on the way up because they don’t want to lose out of potential profit. And they won’t buy on the way down because they’re scared. 
 

do the opposite of that. Eth is a solid project. It’s gonna keep growing and getting better. And it’s a cheaper buyin than btc. And over the course of 4-8 weeks you can double your money doing what I said like 3 or 4 times (assuming you hit everyone perfectly right - which obviously you can’t). 
 

unless you think crypto is going away, it’s like speed stocks. Swings are way larger, way more frequent.

 

buy the dips!!

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Techboy is right in everything he says. 
 

But I’m not investing. I’m gambling. How can you not? This **** swings all over the place. And for whatever reason every time it crashes it comes back in some absurd way. I’m completely cashed out on the dollars I put in. I’m playing with house money and it’s great. The goal now is to cash as much out as possible before it becomes worthless 😂 

I’m assuming it’ll be like old school online sports books

 

where it’s like one day 14 months in your account locks. And it’s because they’re detected you’re playing from a location where it’s illegal. 
 

what can you do. The game is rigged. It’s destined to end this way. Just pull out what you can while you can and enjoy it

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I think this is probably the guy who hacked the exchange.  They just don't have the evidence to prove it.  If you were laundering billions for someone else or a group, for certain they would make a move to get their money. 

 

It would have been better for him to flee to another country and cash out.

 

Also, would have been better for her to turn him in as the reward was 5% of the value of stolen bitcoin.  Someone actually did seem to turn them in... maybe that's the real hacker...

 

What makes me upset is that they took out a $11k PPP loan against his company.  

 

3 letters can hack encryption... also bit coin is publicly traceable and the exchanges regulated so a lot to think about for smart hacker criminals 

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El Salvador's bitcoin-loving president hits out at the 'boomer' senators who want the US to examine its crypto adoption

 

El Salvador President Nayib Bukele has hit out at three US senators after the lawmakers introduced a bill to mitigate any financial risks to the US from the Central American country's adoption of bitcoin as legal tender.

 

Senators Jim Risch, Bob Menendez and Bill Cassidy put forward the proposed bipartisan legislation on Wednesday, calling on the State Department to report on El Salvador's crypto policy. 

 

In swift response, Bukele told the lawmakers to stay out of his country's internal affairs, and tweeted the El Salvador flag with the words "Land of the Free."

 

 

The IMF has condemned El Salvador's adoption of bitcoin as legal tender, and Fitch has downgraded its rating.
 

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The Normie’s Guide to This Week’s Crypto Crash

 

As much as markets are going through it right now, cryptocurrencies are really going through it, and the myriad disasters haven’t abated just yet. Fortunes have been lost. Memes have been deflated. Normal people have had to learn what it could possibly mean that El Salvador is “buying the dip.” What does it mean? What’s going on with Bitcoin? Stablecoins, huh?? Let me catch you up.

 

Bitcoin Blowout
Let’s start with the biggest boy. On Monday, Bitcoin sharply plunged in value along with other popular digital currencies, leading to an $800 million loss in the overall cryptocurrency market as of this writing. Nearly 40 percent of Bitcoin holders have lost all the money they’d invested in the currency, as the value of a single coin has dropped below even last year’s post-crash July low. Throughout this week, multiple coins have seen double-digit losses in value. In response, blockchain networks have halted trade of certain currencies as they attempt to stabilize the market, which is down 20 percent from last week.

 

What’s going on here? Well, as is true with stock markets, there appear to be a lot of Bitcoiners selling off their holdings in the wake of financial and economic insecurity. The Federal Reserve’s hikes in interest rates have kicked off, discouraging risky investments—like, say, historically volatile digital currencies—as well as the speculative trading that’s fueled the recent boom in crypto exchanges. With the Fed making it more expensive to place bets on the markets, investors are less confident that cryptocurrencies will remain a steady holding as regulators battle inflation.

 

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Read an article today that El Salvador is going it through from a credit rating standpoint.

 

Could end up defaulting on their debts now, in large part to their decison to accept bitcoin as legal tender.

 

https://english.elpais.com/economy-and-business/2022-05-10/el-salvador-expected-to-default-as-bitcoin-plummets.html

 

I don't have a problem with additional research into usage and applications of blockchain, but cryptocurrencies and NFTs still feel way too volatile for me to want to come anywhere near them.  

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