Cryptocurrencies - General Discussion

Bitcoin is "on sale" at the moment, hope everyone is buying the dip?

Just beginning to learn a little about crypto. But think missed the dip, dropped to 360k from 850k after musk "crashed it", staying steady at 600k now...and with musk maybe selling the 1.5bil of Bitcoin he has, dont u think it may crash again? Or u see it bouncing back over the next few days?

I don't think musk is going to sell, I think he may have bought more.

Personally I think he knows what he's doing. Soon he'll endorse again and up the value goes.

These are early days, bitcoin is still cheap and the value will just go up and I think one should look at the long term and not focus on the short term volatility. Bitcoin has many enemies that work full-time to sabotage it, so one should expect the usual market manipulation, fake news, scare tactics, legislative restrictions etc... Eventually they will all fail.

Musk's claim that bitcoin use too much carbon-based energy was for some other hidden motive. Perhaps he wanted to drive down the price so that he can buy more, perhaps Tesla will offer some non-carbon based mining solution or perhaps he is also trying to sabotage cryptocurrencies before they take over. Maybe it's something completely different, but it most certainly is not due to worries over where the energy for mining comes from.

Musk's tweet that started the dip was a good thing, because the noobs had to learn the hard way not to be influenced and become emotional and sell like a bunch of idiots. This will hopefully teach people not to fall for similar manipulation tactics in the future. If he does sell his $1.5bn worth of bitcoin that will also be a good thing, because supply is limited and the last thing we need is for the rich to hoard large amounts of bitcoin.

And what's your thoughts on some of the other cryptocurrencies?

Definitely time to buy in, but wouldn't go all in just yet. 50% in around here at $35000-$36000. I think it's going to go lower after the next bounce up. I wouldn't recommend buying any other crypto right now besides Bitcoin and Ethereum with BTC dominance rebounding. But I did buy some Solana on the dip with the Coinbase Pro listing pump coming on Monday and some more Cardano for long term hold. That will suffer though if Bitcoin dumps below $30K.

I learned some painful lessons in 2018's crash about

Note that when I say definitely time buy, I mean if you are prepared to hold if it still dumps hard and gets scary. It will always bounce back with great returns if you're patient. Crypto is the future of money but it's still in it's infancy with a lot of growing pains to come.

Bitcoin is the fastest growing and most successful technology ever created. There is no better asset for wealth storage, nothing else even comes close.

admin wrote: Bitcoin is the fastest growing and most successful technology ever created. There is no better asset for wealth storage, nothing else even comes close.

100%. It is too brilliant to fail. It's going to be funny when we see this thread in a few years time, and remember how almost nobody wanted to buy it when it was 'cheap' at $30K.

ADA FTW! I’m so glad I got in early. I’m just holding it in Yoroi for a few years, hopefully it makes me rich one day I’m also going to start buying lots of VET while it’s cheap

Decro wrote: ADA FTW! I’m so glad I got in early. I’m just holding it in Yoroi for a few years, hopefully it makes me rich one day I’m also going to start buying lots of VET while it’s cheap

This ADA pump was well overdue. Should see some great gains with smart contracts being launched next month. Got in at $0.70 in Feb which seemed crazy risky at the time considering I bought some last Jan for $0.03 and sold it at 0.06c. My biggest holdings after BTC and ETH.

A have a small long term investment of VET that I got cheap, considering they're working with the Chinese government and have partnerships with big corporates like PWC and BMW. VET will have it's day

Which platform do you guys use?

DR.DEATH wrote: Which platform do you guys use?

Binance mostly, and a Ledger Nano wallet for holding my Bitcoin and Ethereum.

Hi Gents,

I've been into Crypto for a few years now.

I use eToro, with Metamask and Trust Wallet.

Coinmarketcap to watch my tokens and poocoin.app / Binance to trade.

So, take payments in BTC - swap for BNB or something and buy other tokens is my strategy, but I'm also learning everyday.




Any questions I got you.

Check out Sonar Ping and ADAX if you guys into day trading.

To everyone that bought the dip, congratulations!

lets ride it out, i think its gonna boom again now with the current global state.

my eth going stronks, to the moon!

Anyone know anything about Lucky Block? Why I ask is that it was advised by some traders to a family member in the states ? I see some good gains, I just don't want to go spending money on something I don't know much about

00pump wrote: Anyone know anything about Lucky Block? Why I ask is that it was advised by some traders to a family member in the states ? I see some good gains, I just don't want to go spending money on something I don't know much about

Another ponzi where new retail investors will be dumped on after pumping the price. This has excellent marketing but stinks like a get rich quick scam. 65% of the Luck Blocks tokens are preallocated to the team, devs, pre launch investors and partners. -> Too easy to manipulate the price.

The Lucky Blocks CEO and team launched a crypto called 'Defi Coin' last year which is now down over 90% from Launch, and another crypto called 'Stakemoon' down about 75% since launch less than 2 months ago. This team has no credibility...

Muscleaddict wrote:

00pump wrote: Anyone know anything about Lucky Block? Why I ask is that it was advised by some traders to a family member in the states ? I see some good gains, I just don't want to go spending money on something I don't know much about

Another ponzi where new retail investors will be dumped on after pumping the price. This has excellent marketing but stinks like a get rich quick scam. 65% of the Luck Blocks tokens are preallocated to the team, devs, pre launch investors and partners. -> Too easy to manipulate the price.

The Lucky Blocks CEO and team launched a crypto called 'Defi Coin' last year which is now down over 90% from Launch, and another crypto called 'Stakemoon' down about 75% since launch less than 2 months ago. This team has no credibility...

Really appreciate that info MA

What's your guys thoughts on crypto with Russia 'special military operation. I'm seeing it all over the show. Are there any ideas about a good time to buy a bunch? I see it went up a lot in the last 5 days and down a bit in the last day. Is it now, the next day or so? Any advice, I'd appreciate.

00pump wrote: What's your guys thoughts on crypto with Russia 'special military operation. I'm seeing it all over the show. Are there any ideas about a good time to buy a bunch? I see it went up a lot in the last 5 days and down a bit in the last day. Is it now, the next day or so? Any advice, I'd appreciate.

I'm not giving advice, just an opinion. I'm much better at the technical aspects of BTC than with the market related stuff.

The markets are all over the show and money are likely to flow in and out of crypto, so expect massive volatility. I'm not a trader or speculator, so the volatility does not bother me. I'm in it for the long haul and see Bitcoin as the least risky long term store of value that currently exists. I calculated earlier in the week that the Rand lost 62% of its value since 2009. One should expect a very turbulent few years ahead, because from a political perspective decentralised cryptos are competing against central bank digital currencies and most politicians (especially the authoritarian ones) don't like competition or stuff they do not control.

00pump wrote: What's your guys thoughts on crypto with Russia 'special military operation. I'm seeing it all over the show. Are there any ideas about a good time to buy a bunch? I see it went up a lot in the last 5 days and down a bit in the last day. Is it now, the next day or so? Any advice, I'd appreciate.

As a new investor you're best off sticking with the tried and tested Bitcoin and Ethereum, and just dollar cost averaging a bit every month no matter what the price is. Most of crypto is still a ponzi. In the long run you will outperform any RA/Pension fund/Balanced fund by far. Timing the markets to outperform just holding takes years to learn and for most is more stress than it's worth.

Bitcoin just jumped 30% in 10 days and with a spike in price like that a dip to test lower prices again is completely normal.

I'm happy to add to my position at $41K today. Like admin said you can expect some crazy shit and volatility in the crypto world with adoption of central bank digital currencies. There's a battle coming. So if BTC does dip to $20K, just buy more and don't panic sell. This will take years to play out.

I appreciate the input admin / MA..

I have money put here and there, but in a normal savings account, I'm getting like 3k interest, which is peanuts for the amount in there, yup I can move it to better interest bearing accounts. And it isn't like I'm needing the money anytime soon, so maybe just wait for a little dip rather purchase BTC with it.

And you right admin, look at what a few days can do to a currency, so I hear your logic in that its probably the safer bet.

I'm learning slowly, so let me give it a bash..

So thanks for the help guys. Quite amazing to see the profit I have made on this recent spike in crypto. I've read some bits, but any clear reason for the current spike? I'm eager to deposit a fair chunk of change, but I am now waiting for the next dip, any idea when that will be?

Also MA, do you by any chance use Binance for trading ?

00pump wrote: any clear reason for the current spike?

The Russian sanctions are also backfiring for the countries that are imposing the sanctions. Russia plans to sell oil and gas for RUR and that is threatening USD's status as world reserve currency. That will greatly benefit cryptocurrencies in the process, because when people loose faith in fiat they will look for alternatives such as crypto.

The freeze on Russian assets are going to worry other countries with large USD reserves such as China and India and they will probably sell them off eventually which will hurt USD more. Small countries that use the USD will suffer due to this and there is the hope that they will switch to BTC as legal tender.

There's so many factors that influence the market and I don't have the skill, resources or time to analyse them myself, so like to keep an eye on the fear and greed index as well as follow my gut feeling which is pretty accurate for reasons I cannot explain: www.lookintobitcoin.com/charts/bitcoin-fear-and-greed-index/

00pump wrote: I'm eager to deposit a fair chunk of change, but I am now waiting for the next dip, any idea when that will be?

That's the trillion dollar question, predicting the top and bottom is what every trader dreams about. There are markers and trends one can look for that help to predict these things, but it's all just estimated guesses in the end and there is no 100% reliable way I know about. I just read what the market analysts have to say with a great deal of scepticism and follow my own instincts. Perhaps someone like MA with more skill can comment on what to look for specifically. Exchange sell and buy volumes is probably the best indicator I can think of.

Politicians/regulators are currently the biggest threat to crypto and there is some EU hearing later this week about private wallets, so that is something to watch out for.