Bitcoin pushing $70k...

[troutbug]

Originally Posted by Jayhad

I look back at my Luna sell at $142 cdn and know it was the best financial decision i've ever made, damn dodged that bullet.

Lunas in the crapper and Im still making money off it. Made about 2k between yesterday and today

[Ken07AOVette]

Nice. Up 600% still though, has to be doing well. Chances are some rich guy like Musk hasn't screwed it up yet

[Ken07AOVette]

down $1749 as of 09:42

still wish I had bought in at $300, but the people buying in at $45000 are going to be hurting

[Ken07AOVette]

Originally Posted by troutbug

Lunas in the crapper and Im still making money off it. Made about 2k between yesterday and today

Looks like it is at $0.0001839 USD -99.99%

Did you cash out when you were $2g up?

the stories are wild

Cryptocurrency crash sees man loses $650k life savings
One crypto enthusiast has lost a whopping $650,000 while another is seriously in debt after taking out a $430,000 loan to buy the coin.

https://www.news.com.au/finance/mark...1e465021687df9

looks like dogecoin fell out the bottom of the bucket too


Anyone going to buy when it is in the toilet?

[KGB]

I might throw in $100 at some just to try to recover my $2K…. Sort of a lottery…

[Roderek]

Originally Posted by Ken07AOVette

Looks like it is at $0.0001839 USD -99.99%

Did you cash out when you were $2g up?

the stories are wild

Cryptocurrency crash sees man loses $650k life savings
One crypto enthusiast has lost a whopping $650,000 while another is seriously in debt after taking out a $430,000 loan to buy the coin.

https://www.news.com.au/finance/mark...1e465021687df9

looks like dogecoin fell out the bottom of the bucket too


Anyone going to buy when it is in the toilet?

I am going to continue to Dollar cost average into crypto every couple of weeks, like I am currently doing. There are some insanely good deals in the market right now for good project coins. I think Web 3 and Metaverse are still going to be huge.

Luna I may throw a few bucks in just incase. Realistically Luna probably does not recover. but 10-20 bucks every couple of weeks could really add up if it hits a 1-10 bucks again based on current pricing. Luna needs to burn a ton of coins for this to happen.

I currently still have my moonbag of luna tokens that I will hold onto incase the price goes back up. I did sell some while it was crashing, but I should have sold it all. At the time I thought it would recover, and at the end of the day Luna did good for and the moon bag is all house money.

Anyone who bets there life savings on one thing is an idiot and deserves to lose it all. In something so volatile invest what you can afford to lose.

[fishnguy]

Originally Posted by 350 mag

Yep it could goto Zero, Celsius could collapse BUT it could also be the Amazon or Google of the DeFi platforms.

You don't make money in this world without some risk....

[Ken07AOVette]

Bitcoin $32648 06/12/22 944pm

The flushing noise is getting louder.

Anyone losing their cool yet?

Fed Fears Spark Sudden $100 Billion Crypto Price Crash—Sending Bitcoin, Ethereum, BNB, Solana, Cardano, XRP, Dogecoin, Polkadot, Tron And Avalanche Into Free Fall

The bitcoin price has dropped to around $27,000 per bitcoin, its lowest price since late 2020 while ethereum has crashed to under $1,500 per ether. Smaller cryptocurrencies are performing even worse, with BNBBNB -7.8%, solana, cardano, XRPXRP -4.9%, dogecoin, tron and avalanche all seeing double-digit percentage declines over the last 24 hours.

https://www.forbes.com/sites/billyba...h=1e6b26142e35

[fishtank]

Originally Posted by fishnguy

The easy cash is drying up and the bank runs on these exchange will reveal lot of skeletons in the closet .

[Ken07AOVette]

Originally Posted by fishtank

The easy cash is drying up and the bank runs on these exchange will reveal lot of skeletons in the closet .

It's very interesting how all the chatter in this thread has been nonexistant for a while now.

I still hear about how bitcoin was propped, by selling the same # of them to thousands of people, when they try to cash out the money is just not there.

[troutbug]

Im loving it. Buying up projects that arent rug pulls and trading a few others that keep pumping and still making decent money.

[Map Maker]

Yeah this is all the big fall a lot of people predicted. Just 1 1/2 years late. Lol.
I’m sure a few people made a lot of money, and a lot of people lost quite a few dollars.

[Ken07AOVette]

Originally Posted by Map Maker

Yeah this is all the big fall a lot of people predicted. Just 1 1/2 years late. Lol.
I’m sure a few people made a lot of money, and a lot of people lost quite a few dollars.

A month ago today a TRILLION dollars disappeared.

This weekend a hundred billion dollars gone.

Not sure how it just disappears, I mean if you buy an apple for a dollar and eat it someone still has your apple.

Did the government take the Trillion? Musk?

Where did it go?

[Ken07AOVette]

Originally Posted by Ken07AOVette

Bitcoin $32648 06/12/22 944pm

$29650 06/13/22 925am

[Dean2]

If you buy something that has ZERO, intrinsic value, is not FIAT currency backed by any countries' GDP, is not backed by company earnings or assets, why would you be surprised that it turns out to be a massive scam, open to endless manipulation. Same deal as buying carbon credits, mortgage backed securities at the third derivative and endless other examples. People just never seem to learn, the greed factor never goes away.

[marky_mark]

Originally Posted by Dean2

If you buy something that has ZERO, intrinsic value, is not FIAT currency backed by any countries' GDP, is not backed by company earnings or assets, why would you be surprised that it turns out to be a massive scam, open to endless manipulation. Same deal as buying carbon credits, mortgage backed securities at the third derivative and endless other examples. People just never seem to learn, the greed factor never goes away.

100% This right here

[ironicbrew]

This aged well

[EdmontonEli]

Buy the dip guys.

[Ken07AOVette]

Originally Posted by EdmontonEli

Buy the dip guys.

To prop you up?

[HyperMOA]

Originally Posted by Ken07AOVette

A month ago today a TRILLION dollars disappeared.

This weekend a hundred billion dollars gone.

Not sure how it just disappears, I mean if you buy an apple for a dollar and eat it someone still has your apple.

Did the government take the Trillion? Musk?

Where did it go?

That money never existed Ken. It was a valuation only. There wasn’t a dollar put away for every dollar it/they increased. If I buy a truck off the lot for $50,000 and immediately sell that truck to someone else for $35,000 (well maybe not these days) where did the money go. I paid the value of a new truck, the guy buying it from me paid the value of a used truck. I incurred the loss but no money actually disappeared. I just made a very poor investment.

[troutbug]

Originally Posted by Ken07AOVette

To prop you up?

I buy the dip, pull my origonal investment I put it when it pumps. No money lost if it tanks.

Also, lots of crypro now when you sell, a certain amount will get burned and a percentage gets disbursed to holders. I have been with one token for over a year and have gotten hundreds of dollars from just holding it.

Munch token when you sell a certain amount gets disbursed to holders and charity. They have funded millions to charitys all over the world.

People who dont know crypto dont actually know lots have a purpose and projects.

[Ken07AOVette]

Originally Posted by HyperMOA

That money never existed Ken. It was a valuation only. There wasn’t a dollar put away for every dollar it/they increased. If I buy a truck off the lot for $50,000 and immediately sell that truck to someone else for $35,000 (well maybe not these days) where did the money go. I paid the value of a new truck, the guy buying it from me paid the value of a used truck. I incurred the loss but no money actually disappeared. I just made a very poor investment.

A lot of it existed, every dollar invested prior to the price drop.

[fishnguy]

Originally Posted by Ken07AOVette

A lot of it existed, every dollar invested prior to the price drop.

You bought some “valuable” thing and you paid x amount for it. Two years later the “thing” is worth only half of what you paid for it. Someone still has the x amount of dollars you paid for it, but you have a “thing” that is worth x/2. Everything is still there, the money and the “thing”, nothing disappeared. You just overpaid for the thing that you thought were undervalued (and the seller thought it was either overvalued or valued just right, but he wanted cash instead to invest elsewhere or sit on it). The overall value is the sum of dollars people are willing to pay for all the “things” at any given point in time, which is determined by the market.

Think of stocks. A guy buys shares of… Paypal for x amount of dollars. The seller has your cash in the amount of x. Next year, the Paypal shares you own are worth x/2, ie half of what you paid. Cash you paid for them still exists and you still own the shares or a certain portion of the company’s assets, but those assets are now worth twice as little as you thought they were when you paid for them. No money actually disappeared.

On the other hand, no money actually appeared when bitcoin appreciated from $100 to $80,000. This is just what people thought it was worth at those particular points in time. Just like any other market, be it real estate, commodities, etc. everyone tries to get ahead, but some are always left behind. Hence the word speculating, regardless whether it is short or long term.

Edit: A little edit to add for more clarity (I hope)… When you bought the “thing” for x amount of dollars of the cash you had or borrowed (ie existing cash either way), you were hoping for the next guy to pay x+y, where y is some arbitrary amount of profit you were hoping to get; the x+y would still be the existing cash, whether the next guy owns it or borrows. For simplicity, you can say that there was no cash created in the process. “For simplicity” because this is not necessarily the case with the borrowed cash.

[HyperMOA]

Originally Posted by Ken07AOVette

A lot of it existed, every dollar invested prior to the price drop.

Absolutely. They paid for a bitcoin, at what was the market value, even if it has nothing backing it. Somebody else took that money and bought whatever. The person holding the bitcoin has watched their investment dwindle but that money didn’t disappear. The other guy has/had it and bought something else. It didn’t disappear. When you invest in stocks the same thing can happen. At least when you invest in stocks there are assets, products and services helping with the valuation of that stock. With crypto, its not quite the same.

There was a high market cap when each bitcoin was selling for x amount and there are x amount of bitcoin that determines market cap. There has to be people willing to pay that price for the market cap to maintain itself. If there is less demand and the same supply guess what happens to the value. It falls and so does the market cap. Not every single bitcoin was purchased at the all time high value, but every bitcoin was valued at that price for market cap. So like I said, that money never ever existed. It was a “valuation”.

If you sell me a turd for $100. Just for laughs let’s say you sold 4 other members a turd for $1. The market cap for turd is now $500. The other 4 turd purchasers think their $1 turd is now $100. When I try to sell it and get $0.02 the market cap just became $0.10. The money the other 4 suckers and I gave you didn't disappear. I just invested poorly. You have that $104. The market cap never produced that $500. I did however lose $99.98 because I bought a way overvalued turd.

EDIT: fishnguy has much more eloquent explanation he beat me to , with much less turds mentioned too!!!😂😂😂😂😂

[densa44]

I'm pretty much an expert on scams. Bitcom has all the components needed for a perfect scam, the unregulated part is a big help.

Bernie Madoff would have loved it, so scammers being what they are, I'm sure that there are lots of them out there now taking advantage of the gullible.

Be very careful with your hard earned money. Listen to Marky_Mark.

[Ken07AOVette]

27136 744 pm

[barsik]

Originally Posted by HyperMOA

That money never existed Ken. It was a valuation only. There wasn’t a dollar put away for every dollar it/they increased. If I buy a truck off the lot for $50,000 and immediately sell that truck to someone else for $35,000 (well maybe not these days) where did the money go. I paid the value of a new truck, the guy buying it from me paid the value of a used truck. I incurred the loss but no money actually disappeared. I just made a very poor investment.

the missing 15000 is in the original seller's (dealer) pocket. most of the money that is "lost" in the market are retirement and savings funds. the fed is out to wipe the digital coin slate clean in order to introduce their own digital currency.

[Dean2]

Originally Posted by Ken07AOVette

27136 744 pm

$22,300 U.S. this morning. Margin calls are going to put a tremendous amount of pressure on the markets when it hits $22,000.

[HyperMOA]

Originally Posted by barsik

the missing 15000 is in the original seller's (dealer) pocket. most of the money that is "lost" in the market are retirement and savings funds. the fed is out to wipe the digital coin slate clean in order to introduce their own digital currency.

There is no missing $15,000. I experienced an asset that depreciated, and the market lowered the value of it. It was a poor example. My turd analogy was a better explanation.

[HyperMOA]

Originally Posted by Dean2

$22,300 U.S. this morning. Margin calls are going to put a tremendous amount of pressure on the markets when it hits $22,000.

Just out of curiosity why is $22,000 the magic number for a margin call, and how do you know that?