Bitcoin Price Thread

Saxio said:
I just sold my house to scale into BTC for the long run :cool:
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Yea!
emoji_u1f44d.png



and-thats-how-its-done.jpg
 
johnarb said:
You buy more

Bitcoin keeps dipping, you keep buying, until your allocated risk for this nascent crypto digital asset has been met

If you're starting from 0% net worth allocation, you have a lot of room. I was at 100% at one time

The key is to get off 0%, once you hit 5, 10 is an easier step. After you hit 10% allocation, you can sell some of your other investments and move up to 25%

Look at the price dips for increasing your bitcoin and other crypto digital asset holdings

What is the upside return for bitcoin? $100K? $200K? $300K? $500K?
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I appreciate your optimism but this is really a lottery mentally.
I mean if you are already all in how are you going to buy more?

Its the same reason the WSB yolo traders will lose everything if they don't sell before the Fed ends the free money. They have all their money in 2 worthless companies in dying industries -- but according to them it will go to 4 digits because of a short squeeze.
 
nitrene said:
I appreciate your optimism but this is really a lottery mentally.
I mean if you are already all in how are you going to buy more?

Its the same reason the WSB yolo traders will lose everything if they don't sell before the Fed ends the free money. They have all their money in 2 worthless companies in dying industries -- but according to them it will go to 4 digits because of a short squeeze.
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You have a point re: being all-in and not able to buy more, but there's some context behind that

All-in was being too poor and borrowing from credit cards to purchase bitcoin starting in 2013, all the way to Feb/2017

All-in was having full commitment to bitcoin and cryptos as investment and playing the long game

All-in was having a job and prepared to lose it all and still being able to go on with not much change in our lifestyle

Things are different now, since I quit my job a few months ago and must have enough cash for over 10 years of living expenses

However, lest we get offtrack, my (non-financial) advice was for people who have 0% allocation to bitcoin/cryptos digital investment space

Instead of celebrating these bitcoin crashes (price corrections) that happen from time to time in the 12 years of Bitcoin's existence, perhaps use them as opportunities to start allocating some of your net worth to the crypto digital asset space

People posting right and left as bitcoin goes down below $30K and already so sure of themselves that bitcoin will go to $20K and even below $10K

How about looking ahead of everyone and seeing $100K by eoy, or even $300K by early next year?

Or how about $500K-$1M by the next bitcoin halving in 4 years and next bull market cycle?

Not possible you say? Are you 99.99% sure bitcoin will never hit those big numbers?

I can tell you in 2013 many people who got into bitcoin were dreaming of $10K per btc but we knew it was just a dream. I was one of them

You have an asymmetric risk/reward opportunity right now by putting as much as you can afford to bitcoin at a price of ~$34K and possibly getting over 300% by eoy or losing it all

Or at least start with any amount of $, then add at different price points on the way down or on the way up

How bad could it be?

*Disclaimer: I'm not a financial advisor and I have no investments in stocks or bonds
 
strange ....
over the past few hours,
BTC went up from 28k to 34k, ie 20% increase

and news reporters/professional writers are not reporting this piece of news.

and this is the latest (outdated) news !!
__________________________________________________
TECH
Bitcoin drop below $30,000 sparks fears of another crypto winter — here’s why bulls aren’t worried
PUBLISHED TUE, JUN 22 20213:40 PM EDTUPDATED TUE, JUN 22 20219:32 PM EDT

MacKenzie Sigalos@KENZIESIGALOS
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KEY POINTS
  • Bitcoin’s brief drop below the symbolic price threshold of $30,000 on Tuesday has reignited talk of a crypto winter.
  • “We are far from a bear market, only traders are freaking out over technicals seen on exchanges like volumes and price action,” said popular on-chain analyst and statistician Willy Woo.
  • Bitcoin adoption is much broader than it was in 2018, creating a self-reinforcing belief in the currency’s value, say bulls.
 
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Founders of South African Bitcoin exchange disappear after $3.6 billion 'hack'

Igor Bonifacic
·Contributing Writer
Thu, 24 June 2021, 1:46 am


Cryptocurrency investors in South Africa may have lost nearly $3.6 billion in Bitcoin following the disappearance of two brothers associated with one of the country’s largest cryptocurrency exchanges. According to Bloomberg, a law firm in Cape Town says it can’t locate Ameer and Raees Cajee, the founders of Africrypt. In April, the exchange told its investors it was the victim of a hack and asked them not to report the incident to the authorities on account it would “slow down” the process of recovering their missing money.


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who is next to disappear?


Safer to trade BTC futures from the CME exchange.
 
maxinger said:
Founders of South African Bitcoin exchange disappear after $3.6 billion 'hack'

Igor Bonifacic
·Contributing Writer
Thu, 24 June 2021, 1:46 am


Cryptocurrency investors in South Africa may have lost nearly $3.6 billion in Bitcoin following the disappearance of two brothers associated with one of the country’s largest cryptocurrency exchanges. According to Bloomberg, a law firm in Cape Town says it can’t locate Ameer and Raees Cajee, the founders of Africrypt. In April, the exchange told its investors it was the victim of a hack and asked them not to report the incident to the authorities on account it would “slow down” the process of recovering their missing money.
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who is next to disappear?

Safer to trade BTC futures from the CME exchange.
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You should use crypto's because:
  • you don't have the inflation making you poorer.
  • you can make instant transferts anywhere.
  • you pay less fees for these transferts.
But what they don't tell is that you risk to lose all your coins.
So you will lose much more than the inflation.
Your coins can disappear in an instant transfert too. With or without a fee.

I never heard about a bank that suddenly disappeared with all the money from all clients.

I still remember this: https://www.cbc.ca/news/business/osc-quadriga-gerald-cotten-1.5607990
The sudden death of Gerald Cotten, founder of QuadrigaCX, led to more than $215 million going missing. The OSC said in a report Thursday that a fraud perpetrated by Cotten was to blame. (Facebook/QuadrigaCX)

maxinger said:
Safer to trade BTC futures from the CME exchange.
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The millions of small crypto buyers are not intelligent enough to understand that. They only "understand" the stories about people who went from zero to billionaires. And a lot of them have even not enough money to start trading futures as you need a computer, software, datafeed, minimum account size...

92% of all adresses have less than 0.1 BTC. So less than $3,000.
41% has even less than 0.01 BTC. So less than $300.
These are poor and desperate people hoping/dreaming to get rich quickly.
 
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A new scam in bitcoins:

'Stefanie' searched online for homework, and came across criminals who convinced her to train as a cryptocurrency broker. The offer was attractive: a nice side income, and all Stefanie had to do was buy and sell shares through her personal bank account. Everything seemed fine until the bank blocked Stefanie's account: Stefanie was found to be inadvertently laundering money, and that is a criminal offence. The Belgian prosecutor's office is currently aware of 20 such 'bitcoin donkeys'. The criminals target young people or people who are financially weak. This form of fraud can have serious consequences for the victim: they commit a criminal offense and can be prosecuted. The scams start with small amounts but keep increasing. In the end, Stefanie transfers almost 20,000 euros. She has filed a complaint with the police. It is unclear what effect this will have on her.
 
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