Bitcoin failed to deliver.
- Thread starter Laissez Faire
- Start date
Did Warren get fired when he broke his rule and lost money in the airlines stocks?
What were the consequences when Buffett was heavily invested in banks and they went bankrupt and needed bailouts during the GFC? (oh, nvm, he can control the monopoly game as he's part of the elite and gets benefits from Cantillon effect)
Btw, Buffett knows banking and money, and he perfectly understands Bitcoin, but he does not have to tell the lemmings, so he invests in a bunch of Bitcoin and crypto companies without much fanfare
If you think Buffett has your best interests and will advocate for Bitcoin and cryptos and talk nicely about them to the media when it doesn't benefit him or his friends, Buffett has a bank to sell you
Saw a report somewhere that 1 out of 3 Billionaires are invested in cryptos (most of them with exposure to Bitcoin), take that with a bucket of salt
Not after hours as wires can only be done during day. Nice sarcasm
One thing I learned in all my years of trading that if you need to send money for margin, you already lost. Risk was not adequately measured. We never transferred more than few millions so I do not know what happens if one tries to wire 10 or more to IB.
I hate to jump in the middle of your fine convo, RedDuke, but we talked about something similar a couple of weeks ago and it seems to me that you used crypto instead of wire transfer when you sent money to Kucoin
Let's break down your crypto trade
- Did you make the transfer and or trade after hours?
- Why did you use XLM to send money to Kucoin?
- Would you consider using XLM to send $1M value to Kucoin?
- Why did you trade XLM to USDT, a stablecoin that you distrust so much?
I have an idea on what the answers to the questions above, but I think it's good for the uninitiated to hear it from you
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the answer is simple, with crypto being all over there place I had to jump through all these hoops to get Luna. Compare this to let’s say IB I can trade any stock or future under the sun for the most part in one place.
You were trying to trade a scam coin Luna, that bankrupted a lot of retail and even hurt or bankrupted Celsius and other big crypto companies
I did not ask about Luna, but it's cool, no worries RedDuke, the answers were not for me anyway
By the way, I know you're buying Eth so you may get good prices with this stEth issues keep circulating, re: 3AC and Celsius and who knows who else, plus retail are getting the rumors on CT so they gonna dump stEth as well
John your posts here were one of the reason I began experimenting with cryptos. You are one of very few who bothered to explain to people like me all details as if we were little children. I am like you believer in blockchain. We differ on rosy outcomes and etc, but tech is here to stay and those who are patient and do due diligence will do well.
if you recall, when ether was ripping, I said, I will wait for it to go down to 2k, 1.5k and so on to begin buying. We are where I expected market to come. Let’s see how lower it will get.
btw, are you calling Luna a scam because it blew up ? I do not recall you ever posted anything against Luna before collapse.
Yes, I'm really glad you came to experience first hand the crypto and blockchain networks in action
Sorry for giving you a hard time but you possess knowledge that others have not experienced first hand
But we're in a crypto winter right now, RedDuke, I'm afraid the prices that you see right now are not the bottom and this stEth putting pressure on Eth things could get ugly
Bitcoin is not immune to this, if liquidations are happening in the industry all over the place, BTC will go down just like all other cryptos
I'm not trying to fud my own bags, but be safe, we all want to make the most of the next bull market, so #1 rule is to survive the bear market and have enough working capital when we come out of it
I did not know Luna was a scam until after it collapsed. I bought and sold 1,000 LUNA tokens way before it mooned and way before it crashed
Bought at around $21 and started selling for a loss around $18 and was kicking myself when it went on a bull run from $6 to over $120
There's a 3yo video of a Bitcoiner who laid out the reasons Luna/UST is a scam by design. I posted it on the LUNA/UST thread
Nope he didn't. I quess that's one of the perqs of running the company. If I had been in charge he would have had to explain why he broke one of his own rules.
Mind you he eventually saw the error of his ways and got out.
Kinda answered your own question there. Golden rule my friend, the guys with the gold make the rules.
I don't think Buffet doesn't understand bitcoin and I'm well aware that he doesn't have my best interest at heart.
He does however have several good arguements as to why bitcoin is hard to value. I'm not aware of any investments he has in anything crypto related, but they will show up in the next 13F filings.
You're probably referring to the suggestion that the easiest way to become a millionaire is to start with a billion and invest in bitcoin.
That may explain the fact that the number of billionaires is decining.
Anyhow I still think that "Don't lose money" is a good rule for traders/investors and I'll continue to follow it whether Warren does or not.
do you mind explaining why staked ether is having pressure on ether.
I am treading very careful in these waters, I can assure you.