Current Events > How many people do you think bought bitcoin at 18-19k thinking it would go up?

(+) Yeah! (+)

Lmao
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DemonBuffet posted...

Lmao

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My friend bought a mining rig 6 weeks ago. Spent $2000 on it. Luckily he didn't buy any bitcoin. However he is one of those guys who thinks crypto is the future and the coin he is mining (UBIX or something like that, mines 3 coins per day) is going to make him rich in a couple years.

He thinks it is impossible for countries to make it illegal or too difficult to even trade in the first place. He also loves to tell me how he th inks wallstreet guys like to trade crypto because "it's volatile and they can make a lot of money if they hit and $5000 is nothing to them". I tried to explain to him that it's the exact opposite, most guys with real knowledge of the stockmarket are very weary about crypto and less likely to invest because of how volatile it is. It's the random dumbasses who emptied out their life savings and maxed out their credit cards are the ones investing in crypto the most.
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MuayThai85 posted...

He thinks it is impossible for countries to make it illegal or too difficult to even trade in the first place. He also loves to tell me how he th inks wallstreet guys like to trade crypto because "it's volatile and they can make a lot of money if they hit and $5000 is nothing to them". I tried to explain to him that it's the exact opposite, most guys with real knowledge of the stockmarket are very weary about crypto and less likely to invest because of how volatile it is. It's the random dumbasses who emptied out their life savings and maxed out their credit cards are the ones investing in crypto the most.

Something else I've heard some real professional traders I follow on twitter mention is that the crypto exchanges are terrible. Processing your trades takes forever, the fees are huge, tons of problems in general. Professional traders don't want to deal with that crap.
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I've seen a few threads about it on Reddit at people saying they bought in at 19k. Its normally a bunch of people telling them to "hold and thank them later when it's at 90k." and other delusional shit
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Key posted...

I've seen a few threads about it on Reddit at people saying they bought in at 19k. Its normally a bunch of people telling them to "hold and thank them later when it's at 90k." and other delusional shit

That's what my friend keeps saying about the panic seller's. I keep trying to explain to him he's only invested in his rig and like $100 in actual crypto, it's easy to say don't sell when you see your life savings get cut in half over night. He keeps trying to say they're stupid and all I asked was "OK, what happens if he keeps going and stops at around $1500 and we never see it hit 20k again, those people have now lost 90% of their investment instead of half". He will just have regurgitate how it's the future blah blah blah.

He can mess over to my place to smoke and stuff every day. Before he got into crypto in December we'd just play fifa and watch entertaining videos. Now all he does is want to talk about fucking crypto and check coinmarketcap every 90 seconds on his phone. It's become quite fucking annoying.
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MuayThai85 posted...

He thinks it is impossible for countries to make it illegal

He's kind of right. They certainly can make it impossible for people to actually use it anywhere, though, which renders it more useless than if it was illegal.

MuayThai85 posted...

Now all he does is want to talk about fucking crypto and check coinmarketcap every 90 seconds on his phone. It's become quite fucking annoying.

yeah I know a couple people who've became obsessed and it's quite annoying. it's all they ever look at and talk about
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chill02 posted...

DemonBuffet posted...

Lmao

@Kazi1212

Sativa_Rose posted...

Processing your trades takes forever, the fees are huge, tons of problems in general. Professional traders don't want to deal with that crap.

Those aren't professional traders if they're complaining about made up problems.
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I bought in at $13k after selling my ethereum at all time highs around $1400 because I expected it to drop. Then I shorted my BTC for the dollar around $12k because I was expecting a crash down to $7500, but I bought back in at $8k because thats where my stop order was, didnt want to get too greedy and wait for a bigger dip. I posted on the last crypto topic that the price would rebound around $7500(it rebounded at $7560 on gdax), so all in all Im actually super happy.

https://www.gamefaqs.com/boards/400-current-events/76226462/895231141
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