IRL (In Real Life) > Tech Talk

Bitcoin Mining

<< < (15/17) > >>

nobodyjune61944:

--- Quote from: Silent Disapproval Robot on May 28, 2021, 09:48:10 PM ---I think they are. 

They want to get individual investors out, depress the value, and then buy it up on the dip.  Analytics showed the same thing happened when Turkey and India banned it.  When Elon announced Tesla wouldn't accept Bitcoin as payment anymore and the value tanked,  the average value sold was between $100-$200 and the average buy on the dips was 100x that.  Indicates to me that the big players are exploiting the volatility of the coin in order to accrue more when the price drops.

--- End quote ---

I don't understand bitcoin.  I've not tried to understand it beyond my knowledge of other non-government backed currencies over the last 100 years.
Given my disclosure, your comment could be lifted verbatim substituting the item (bitcoin) and the specifics (Turkey & India) from any discussion of financial bubbles in the last three centuries.   Do as you wish, but I avoid investments that I don't understand or which resemble classic financial bubbles from the past.

Gusington:
I got some tulip bulbs here burning a hole in my pocket.

steve58:

--- Quote from: Gusington on May 29, 2021, 01:57:14 PM ---I got some tulip bulbs here burning a hole in my pocket.

--- End quote ---

I bid one Dogecoin.

Staggerwing:

--- Quote from: Gusington on May 29, 2021, 01:57:14 PM ---I got some tulip bulbs here burning a hole in my pocket.

--- End quote ---

If the prices tank again on tulip bulbs at least you can roast them up and eat them.

Silent Disapproval Robot:
Could very well be another spec bubble.  Then again, it's been going and increasing for 12 years.  The tulip mania was only a season.  I got hammered pretty bad in 2008 and my more traditional portfolios took another beating with the COVID thing.  With the way they've been printing money, I figure holding cash is a bad idea and real estate around here is too expensive to buy, so I've been doing precious metals (even though I tried that with silver post 2008 and that didn't pan out) and crypto.  Crypto has taken a beating over the last month but I'm still up.  I think the only thing I've bought that's out performed it is ammo.

Navigation

[0] Message Index

[#] Next page

[*] Previous page

Go to full version