OT: Bitcoin bros

[horshack.sixpack]

What is happening to my "digital gold"?

 

[karlchilders.sixpack]

Dragging MSFT and others with it.

 

[dorndawg]

I knew the funny money had been falling but daaaaayum. Looks like silver is taking a similar beating

 

[DoggieDaddy13]

Be patient.

Let it drop just a leeeeeettle bit more.... then...

Buy! Buy! Buy!

I love the smell of market panic. Smells like FREE MONEY!!

 

[mstateglfr]

Bitcoin needs to stop being treated like a speculative investment and start being treated as the legitimate digital currency it is!
Bitcoin is 17ing worthless as a digital currency for most people and its only value is as a speculative investment!
Bitcoin is not an investment, it is savings that will avoid the common pitfalls of inflationary fiat currencies!...except for, you know, these 'corrections'.

In reality, Bitcoin is whatever someone wants it to be at that time to best fit their argument- a speculative investment, a rational investment, digital currency, savings, or a foolish waste.

 

[Pars]

 

[BoDawg.sixpack]

Ethereum is getting taken down also. This is going to have a major effect on tech stocks because as people lose interest in crypto the feeling is they're going to lose interest in GPUs and CPUs with it. A correction in both were needed IMO.

 

[gtowndawg]

Been in it for 5 years, first time I feel like my nerves are being tested (and I rode it from 67 to 16 without batting an eye).

 

[John Deaux VII]

Bitcoin needs to stop being treated like a speculative investment and start being treated as the legitimate digital currency it is!
Bitcoin is 17ing worthless as a digital currency for most people and its only value is as a speculative investment!
Bitcoin is not an investment, it is savings that will avoid the common pitfalls of inflationary fiat currencies!...except for, you know, these 'corrections'.

In reality, Bitcoin is whatever someone wants it to be at that time to best fit their argument- a speculative investment, a rational investment, digital currency, savings, or a foolish waste.

I'm sure I am just an ignoramus, but I still don't get it. For most of the claimed "significant advantages", I can argue that it can just as easily be seen as a risk or I can point to another financial vehicle that lets you do the same thing for comparable cost or risk.

ETA - The only notable advantage that I have found is that it is comparable to gold, but you don't have to keep it in a vault under armed guard and you don't have to haul it around in a Brinks truck. But I still there are are theft risk.

 

[Pars]

Significant advantages are money laundering

 

[Hugh's Burner Phone]

What is happening to my "digital gold"?

It's being digitally r*ped in the prison shower by Tiny.

 

[Shmuley]

My precious metals are melting.

 

[horshack.sixpack]

Just checked. I'm only down 40% on my IBIT...

 

[Papapat.sixpack]

I’m definitely loading up on sol and eth at this juncture….and some Pepe

 

[The Peeper]

 

[Dawg1976]

Just checked. I'm only down 40% on my IBIT...

I feel your pain. Thankfully I don’t have much in it but you hate to see it evaporate. I’m riding it out.

 

[lazlow]

Be patient.

Let it drop just a leeeeeettle bit more.... then...

Buy! Buy! Buy!

I love the smell of market panic. Smells like FREE MONEY!!

right? I'll gladly accept anyone's shltcoin.

 

[M R DAWGS]

I told the guys that I work with that own bitcoin to sell once it hit 110,000. They didn’t.

I don’t have the gall to invest in make believe numbers.

 

[RBcoach]

 

[horshack.sixpack]

I feel your pain. Thankfully I don’t have much in it but you hate to see it evaporate. I’m riding it out.

Same. I dropped about $6k in it and I’ll leave it.

 

[Jeffreauxdawg]

It's just in a distribution cycle. The biggest problem with BTC investors is when they try to compare it to the S&P or another established asset class. It acts and trades like a growth stock.

If you like BTC you should be able to buy it now or sometime in the next few months on the top trend line around 55-60k. If you are patient and willing to miss out on the next accumulation cycle, the bottom green trend line could be in play at the end of the year around $35-40k.

Or you could buy half now and save some powder. Or you could just stay the 17 away from it altogether.

 

[jethreauxdawg]

That’s @DoggieDaddy13 in blue

 

[DoggieDaddy13]

That’s @DoggieDaddy13 in blue

I feel seen!