Official Cryptocurrency Thread: Skepticism to Speculation to FIGHT! FIGHT! FIGHT!

Discussion in 'The Mainboard' started by Nantucket, Jan 29, 2017.

  1. user15000

    user15000 Well-Known Member

    Why is below 30 a “where does it stop thing”?
     
  2. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    Because stocks only go down right now

    It is below its nasdaq correlation or right at it
     
  3. harvey birdman

    harvey birdman Ha ha! Last laugh.
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  4. user15000

    user15000 Well-Known Member

    What does below or at nasdaq correlation even mean? It’s a max of 1:1 correlation. So it’s almost necessarily “below” correlation.
     
  5. user15000

    user15000 Well-Known Member

    They bought today.

     
  6. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    It has been closely correlated for a long time, during the bump it was tracking a few days behind. Now it has caught up and could move faster.
     
  7. user15000

    user15000 Well-Known Member

    Also while I have you, the upcoming recession was all part of the fed’s awesome master plan to save us from covid and totally nail the recovery right?

    How many recessions is this that the fed has overseen since its creation? I’ve lost track.
     
  8. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

  9. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    Aren't you happy the Fed is now decreasing inequality
     
  10. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
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    Let’s goooooooo
     
  11. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
    Indiana HoosiersNotre Dame Fighting IrishChicago CubsIndianapolis Colts

    Plus LFG selling ~1.5B BTC to protect peg, but they’re supposedly all out, emptied the clip.
     
  12. user15000

    user15000 Well-Known Member

    Lol if you don’t think this ends in more QE and assets going up. It’s all one trade. The market dropping is cover for them to not remotely get to 7 rate hikes or whatever ridiculous propaganda chase and Goldman are parroting these days. 3-4% rates will break everything that matters.

    This was true in March 2020 when btc crashed to $4k. It’s true now as markets experience another liquidation event. In 5 years, we’ll crash to…idk…$70k. And a new group will be in here acting like “a break below $70k is a how low does it go thing.”

    Yawn.
     
  13. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    Amazin'
     
    bro likes this.
  14. user15000

    user15000 Well-Known Member

    Like I said. Yawn.
     
  15. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    Then why respond if you're just going to say the same things you always say
     
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  16. beerme

    beerme Well-Known Member
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    he says as he could’ve retired 6 months ago
     
  17. user15000

    user15000 Well-Known Member

    The thesis hasn’t changed from $2k to $69k to $30k. I responded because your comment about “who knows how low it goes” was stupid. Wake me up in 2030.
    This directed at me or lyrtch?
     
  18. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    Please go to sleep
     
  19. user15000

    user15000 Well-Known Member

    Ok dbl.

    Ftr, you’d have been better off making a point around the 200 week moving average ($24k-ish) or $20k (the prior cycle approximate high). Your comment at $30k was pretty meaningless based on history, past cycles, etc. Don’t let that get in the way of a meaningless comment though.
     
  20. kinghill

    kinghill Cool American Flavour
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    Sorry guys I bought some crypto in December 2021 so it was destined to go down hard after that.

    I bought the dips twice in April too. :laugh::laugh:
     
    Tug likes this.
  21. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
    Indiana HoosiersNotre Dame Fighting IrishChicago CubsIndianapolis Colts

  22. dblplay1212

    dblplay1212 Well-Known Member
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    Sold almost all btc I was holding back in early October at 49k then watched it continue to climb to 65k and was kicking myself. Haven't had to sweat this latest decline though. Idk when I'll get back in, but probably soon. Rooting for 20k to see what happens with Saylor but doubt it gets there. Getting back in now at 40% less than what I sold would be a W so probably should do that.
     
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  23. user15000

    user15000 Well-Known Member

    For the “they’ll get margin called” crowd that has been quite active on Twitter recently (Grant Williams, Travis Kimmel, etc.)

     
  24. dblplay1212

    dblplay1212 Well-Known Member
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    Their CFO is in the "they'll get margin called" crowd.

    If bitcoin falls below $21,000, MicroStrategy will be met with a margin call from one of its loans. That would force the company to either put up more collateral to the loan or sell some of its bitcoin holdings, according to comments from MicroStrategy CFO Phone Le on the company's most recent earnings call.

    MicroStrategy was asked during the call, "how far does bitcoin have to fall for MicroStrategy to receive a margin call on the Silvergate loan?"

    "As far as where bitcoin needs to fall, we took out the loan at a 25% loan-to-value, the margin call occurs [at] 50% loan-to-value. So essentially, bitcoin needs to cut in half or around $21,000 before we'd have a margin call," Le answered. Bitcoin would need to fall 36% from current levels to hit $21,000.
     
  25. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
    Indiana HoosiersNotre Dame Fighting IrishChicago CubsIndianapolis Colts

    20x opened at $30,298, closed at $32,100. :getmoneyfuckbitches:
     
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  26. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
    Indiana HoosiersNotre Dame Fighting IrishChicago CubsIndianapolis Colts



    Looks like they won’t die, sick part is people will dive right back in… me included. :welpseeyalater:
     
  27. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    lot of incentive by others in the space to prop it up to keep the money train going with other ponzis
     
  28. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
    Indiana HoosiersNotre Dame Fighting IrishChicago CubsIndianapolis Colts

    Probably not great in the near term… ‘18-‘20 chop incoming?



     
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  29. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    i think counting on boom and bust retail cycles going forward is folly, this one was so big there's a LOT of people who lost a lot of money

    maybe if there's some real utility cases down the road, but a little skeptical
     
  30. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
    Indiana HoosiersNotre Dame Fighting IrishChicago CubsIndianapolis Colts

    They came back after ‘17 :idk:, obv this was much larger, but I kinda think we’ll never quench that appetite for quick/outsized returns so long as there’s similar socioeconomic disparity in this country.

    *And I realize that’s a shameful/maybe unethical take, but just playing the hand dealt in the game we’ve created.
     
  31. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    I'd be curious the number of people involved from retail in 17 vs now
     
  32. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
    Indiana HoosiersNotre Dame Fighting IrishChicago CubsIndianapolis Colts

    BTC wallets might be a good rough indicator, maybe user15000 can find that data?
     
  33. user15000

    user15000 Well-Known Member

    Glassnode has a bitcoin active addresses metric that I’ve seen people use as a rough proxy in the past. Believe they also have something like number of wallets with amounts below .1 btc or 1 btc, which is also a rough approximation.
     
  34. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
    Indiana HoosiersNotre Dame Fighting IrishChicago CubsIndianapolis Colts

    Welp, it’s getting rocked again…

    $.71 UST
    LUNA under $15
     
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  35. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
    Indiana HoosiersNotre Dame Fighting IrishChicago CubsIndianapolis Colts

  36. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
    Indiana HoosiersNotre Dame Fighting IrishChicago CubsIndianapolis Colts

    Also worth mentioning, though it’s been said a million times before…

     
  37. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
    Indiana HoosiersNotre Dame Fighting IrishChicago CubsIndianapolis Colts

    UST <$.60
    LUNA $8.75

     
  38. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
    Indiana HoosiersNotre Dame Fighting IrishChicago CubsIndianapolis Colts



    UST $.50
    LUNA $6.75
     
  39. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
    Indiana HoosiersNotre Dame Fighting IrishChicago CubsIndianapolis Colts

    UST $.37
    LUNA $5.85
     
  40. Whammy

    Whammy Donde es
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    Dead
     
  41. danny2430

    danny2430 Well-Known Member
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  42. Whammy

    Whammy Donde es
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    CPI comes in over expectations....crypto continuing to nuke, fun times
     
  43. dblplay1212

    dblplay1212 Well-Known Member
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    Seems like he fucked around and is finding out.

     
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  44. PaulKemp

    PaulKemp Well-Known Member
    Donor TMB OG

    I don’t have anything outside of some tiny holdings I didn’t bother to off load, but I can’t look away. Hope everyone here got out of the way in time
     
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  45. bro

    bro Your Mother’s Favorite Shitposter
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  46. Arrec Bardwin

    Arrec Bardwin La Araña Discoteca
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    Have some small positions that are dead now, and one that is still up 750% and prints 50% in other coins (although LUNA was a good chunk of that)

    Added cash to CBPro, looking to buy maybe
     
    PaulKemp likes this.
  47. danny2430

    danny2430 Well-Known Member
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    Luna at 0.70 sure seems tempting
     
    dblplay1212 likes this.
  48. brolift

    brolift 2sweet
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