Cryptocurrency in Free Fall

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Cryptocurrency in Free Fall

Post by MinnGuyInvesting »

Locked: See this post by the site owner: New Forum Policy Prohibiting Discussions of Cryptocurrency, Market Manipulation Schemes, etc as Investing Strategies

Bitcoin down (close to 10%) to 56k from it's weekend high of 60k+.
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physixfan
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Re: Cryptocurrency in Free Fall

Post by physixfan »

The correct way to look at BTC price is to use a log scale chart.
It's just a usual day to drop 10% or 20%. It's only a free fall when it drops >50%.
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Re: Cryptocurrency in Free Fall

Post by thenextguy »

LOL. 10% is not a free fall.
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Re: Cryptocurrency in Free Fall

Post by rhoms33 »

My buy day. More satoshis per dollar for me :happy
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Re: Cryptocurrency in Free Fall

Post by MotoTrojan »

Your portfolio is bold to say the least. Good luck!
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Re: Cryptocurrency in Free Fall

Post by bogledogle »

MinnGuyInvesting wrote: Mon Mar 15, 2021 2:44 pm Bitcoin down (close to 10%) to 56k from it's weekend high of 60k+.
Lol you have two threads to cover "free fall" and "soaring". I like how you are playing both sides of the bitcoin before some white knight steps in to defend VTSAX - pun intended lol :D
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Re: Cryptocurrency in Free Fall

Post by SlowMovingInvestor »

I was tempted to create a 'Cryptocurrency staying stable !' thread.

And it is true, when referring to stablecoins such as USC and GUSD.
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Re: Cryptocurrency in Free Fall

Post by LadyGeek »

Let's keep it to two threads. This one and Cryptocurrency - Bitcoin Continues to Soar!.
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Re: Cryptocurrency in Free Fall

Post by MinnGuyInvesting »

thenextguy wrote: Mon Mar 15, 2021 2:50 pm LOL. 10% is not a free fall.
No, it isn't, but we needed a free fall thread.
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Re: Cryptocurrency in Free Fall

Post by Flextruck »

Not mine, I bought Enjin Coin for 22 cents and it's now flirting with $3 per coin!! I also bought Mana Coin for 18 cents and it's over a dollar per coin.
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Re: Cryptocurrency in Free Fall

Post by JBTX »

Goes up and down 10% per day. So much for being a "store of value".
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Re: Cryptocurrency in Free Fall

Post by an_asker »

bogledogle wrote: Mon Mar 15, 2021 2:58 pm
MinnGuyInvesting wrote: Mon Mar 15, 2021 2:44 pm Bitcoin down (close to 10%) to 56k from it's weekend high of 60k+.
Lol you have two threads to cover "free fall" and "soaring". I like how you are playing both sides of the bitcoin before some white knight steps in to defend VTSAX - pun intended lol :D
How about "Bitcoin ... on a roll"? ;-)
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Re: Cryptocurrency in Free Fall

Post by gwe67 »

Everyone's trying to be the next Lbill....
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Re: Cryptocurrency in Free Fall

Post by make_a_better_world »

Image
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Re: Cryptocurrency in Free Fall

Post by nisiprius »

I'm a bitcoin skeptic. But 10% is nothing.
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Re: Cryptocurrency in Free Fall

Post by F150HD »

If you correctly call the big crash date, I'll mail you a Twinkie. :greedy
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Re: Cryptocurrency in Free Fall

Post by JHU ALmuni »

Free fall? You must be new to this. I will be very grateful for 10% drop in cryptocurrencies.
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Re: Cryptocurrency in Free Fall

Post by JHU ALmuni »

make_a_better_world wrote: Mon Mar 15, 2021 4:45 pm Image
Well done!
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Re: Cryptocurrency in Free Fall

Post by JHU ALmuni »

JBTX wrote: Mon Mar 15, 2021 3:59 pm Goes up and down 10% per day. So much for being a "store of value".
Store of value long term, bought my first at 3K saw it going to 20K then back to under 5K then now close to 60K. BTC market cap is relatively small, so high fluctuation is expected at least for now.
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Re: Cryptocurrency in Free Fall

Post by JBTX »

JHU ALmuni wrote: Mon Mar 15, 2021 5:30 pm
JBTX wrote: Mon Mar 15, 2021 3:59 pm Goes up and down 10% per day. So much for being a "store of value".
Store of value long term, bought my first at 3K saw it going to 20K then back to under 5K then now close to 60K. BTC market cap is relatively small, so high fluctuation is expected at least for now.
1 trillion dollars is relatively small?
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Re: Cryptocurrency in Free Fall

Post by birdog »

India will propose a law banning cryptocurrencies, fining anyone trading in the country or even holding such digital assets, a senior government official told Reuters in a potential blow to millions of investors piling into the red-hot asset class.

The measure is in line with a January government agenda that called for banning private virtual currencies such as bitcoin while building a framework for an official digital currency. But recent government comments had raised investors' hopes that the authorities might go easier on the booming market.

Instead, the bill would give holders of cryptocurrencies up to six months to liquidate, after which penalties will be levied, said the official, who asked not to be named as the contents of the bill are not public.

Officials are confident of getting the bill enacted into law as Prime Minister Narendra Modi's government holds a comfortable majority in parliament.

If the ban becomes law, India would be the first major economy to make holding cryptocurrency illegal. Even China, which has banned mining and trading, does not penalise possession.
https://finance.yahoo.com/news/india-pr ... 46097.html

Is this the reason for the drop?
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Re: Cryptocurrency in Free Fall

Post by Mindbender »

Did I make it to the first page of this thread? Here’s to lasting as long as the stocks free fall thread. :sharebeer
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Re: Cryptocurrency in Free Fall

Post by dru808 »

What!? No! Sell out you weakling.
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Re: Cryptocurrency in Free Fall

Post by MinnGuyInvesting »

Flextruck wrote: Mon Mar 15, 2021 3:57 pm Not mine, I bought Enjin Coin for 22 cents and it's now flirting with $3 per coin!! I also bought Mana Coin for 18 cents and it's over a dollar per coin.
I need to talk with you more.

My Alt Coins all suck lately.

ADA
AAVE
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Re: Cryptocurrency in Free Fall

Post by Marseille07 »

53K now. What a fall from 60K+ in one day.
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Re: Cryptocurrency in Free Fall

Post by Anon9001 »

birdog wrote: Mon Mar 15, 2021 5:54 pm https://finance.yahoo.com/news/india-pr ... 46097.html

Is this the reason for the drop?
No. The largest volume of Bitcoins traded has been in USA for 2020. India is pretty tiny in that list so if the ban was put it in place highly unlikely it will effect Bitcoin prices. https://www.statista.com/statistics/119 ... countries/
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Re: Cryptocurrency in Free Fall

Post by Gadget »

MinnGuyInvesting wrote: Mon Mar 15, 2021 6:32 pm
Flextruck wrote: Mon Mar 15, 2021 3:57 pm Not mine, I bought Enjin Coin for 22 cents and it's now flirting with $3 per coin!! I also bought Mana Coin for 18 cents and it's over a dollar per coin.
I need to talk with you more.

My Alt Coins all suck lately.

ADA
AAVE
Don't talk to me then. I also have some Ada and AAVE as my only two non BTC/ETH bets. Thinking about selling them at a loss since my crypto allocation is starting to get out of whack anyway from all the BTC/ETH gains. Not that I have enough Ada and AAVE to put much of a dent in my allocation.
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Re: Cryptocurrency in Free Fall

Post by ohboy! »

Gadget wrote: Tue Mar 16, 2021 12:05 pm
MinnGuyInvesting wrote: Mon Mar 15, 2021 6:32 pm
Flextruck wrote: Mon Mar 15, 2021 3:57 pm Not mine, I bought Enjin Coin for 22 cents and it's now flirting with $3 per coin!! I also bought Mana Coin for 18 cents and it's over a dollar per coin.
I need to talk with you more.

My Alt Coins all suck lately.

ADA
AAVE
Don't talk to me then. I also have some Ada and AAVE as my only two non BTC/ETH bets. Thinking about selling them at a loss since my crypto allocation is starting to get out of whack anyway from all the BTC/ETH gains. Not that I have enough Ada and AAVE to put much of a dent in my allocation.
ADA pumping on coinbase listing. I don’t like Cardano at all though. Can’t have such a fragile big ego at the top of a decentralized project.
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Re: Cryptocurrency in Free Fall

Post by Samosa22 »

ohboy! wrote: Tue Mar 16, 2021 12:52 pm
Gadget wrote: Tue Mar 16, 2021 12:05 pm
MinnGuyInvesting wrote: Mon Mar 15, 2021 6:32 pm
Flextruck wrote: Mon Mar 15, 2021 3:57 pm Not mine, I bought Enjin Coin for 22 cents and it's now flirting with $3 per coin!! I also bought Mana Coin for 18 cents and it's over a dollar per coin.
I need to talk with you more.

My Alt Coins all suck lately.

ADA
AAVE
Don't talk to me then. I also have some Ada and AAVE as my only two non BTC/ETH bets. Thinking about selling them at a loss since my crypto allocation is starting to get out of whack anyway from all the BTC/ETH gains. Not that I have enough Ada and AAVE to put much of a dent in my allocation.
ADA pumping on coinbase listing. I don’t like Cardano at all though. Can’t have such a fragile big ego at the top of a decentralized project.
Just wondering what's the best way to find as early as possible which coin is about to be listed on Coinbase? I found about Cardano listing when Coinbase tweeted about it but at that point the price was already pumping. There must be a public resource (other than tweet) where Coinbase announces its newest listing.
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Re: Cryptocurrency in Free Fall

Post by SlowMovingInvestor »

Samosa22 wrote: Wed Mar 17, 2021 7:59 pm Just wondering what's the best way to find as early as possible which coin is about to be listed on Coinbase? I found about Cardano listing when Coinbase tweeted about it but at that point the price was already pumping. There must be a public resource (other than tweet) where Coinbase announces its newest listing.
Well, the tweet is a public resource. I doubt you're going to be able to get in before the pump once it's 'public' either via tweet or some other channel

I'm sure there are people already looking at candidate coin movements between wallets, trying to figure that out before any announcement. For instance, if known Coinbase Corporate Wallets seem to pick up a lot of certain tokens, it's possible they plan to list that token. [ But if I were Coinbase, I'd spin up new addresses to hold new tokens for testing prior to deployment ]

I wonder if insider trading laws would apply to trading in tokens ? Certainly in tokens that are 'security-like', that could be an issue.
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Re: Cryptocurrency in Free Fall

Post by CardioMD »

Where am I? [insert some clever gif here]
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Re: Cryptocurrency in Free Fall

Post by arcticpineapplecorp. »

$59k now.

don't recommend buying a currency that rises and falls so much in so short a period of time.
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Re: Cryptocurrency in Free Fall

Post by mailboat »

What free fall? :D Its a fire sale event. I loaded up on Bitcoin!
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Re: Cryptocurrency in Free Fall

Post by dru808 »

Bitcoin was how much 1 year ago? Eth was how much 1 year ago? Lol. Freefallin :sharebeer :moneybag :moneybag
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Re: Cryptocurrency in Free Fall

Post by dru808 »

Gadget wrote: Tue Mar 16, 2021 12:05 pm
MinnGuyInvesting wrote: Mon Mar 15, 2021 6:32 pm
Flextruck wrote: Mon Mar 15, 2021 3:57 pm Not mine, I bought Enjin Coin for 22 cents and it's now flirting with $3 per coin!! I also bought Mana Coin for 18 cents and it's over a dollar per coin.
I need to talk with you more.

My Alt Coins all suck lately.

ADA
AAVE
Don't talk to me then. I also have some Ada and AAVE as my only two non BTC/ETH bets. Thinking about selling them at a loss since my crypto allocation is starting to get out of whack anyway from all the BTC/ETH gains. Not that I have enough Ada and AAVE to put much of a dent in my allocation.

Get rid of that junk, bitcoin is king, eth will be the prince, riding off all the junk coin hype.
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Re: Cryptocurrency in Free Fall

Post by SlowMovingInvestor »

dru808 wrote: Wed Mar 17, 2021 9:30 pm
Get rid of that junk, bitcoin is king, eth will be the prince, riding off all the junk coin hype.
Sez who :twisted: ?

https://cointelegraph.com/news/zero-to- ... ck-to-life

Karma (KARMA), a social media project that originally launched on the EOS blockchain in 2018. Over the past seven days, the dollar value of Karma increased 6,530% as the token climbed from a subcent price of $0.000464 up to $0.030767.
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Re: Cryptocurrency in Free Fall

Post by dru808 »

SlowMovingInvestor wrote: Wed Mar 17, 2021 9:32 pm
dru808 wrote: Wed Mar 17, 2021 9:30 pm
Get rid of that junk, bitcoin is king, eth will be the prince, riding off all the junk coin hype.
Sez who :twisted: ?

https://cointelegraph.com/news/zero-to- ... ck-to-life

Karma (KARMA), a social media project that originally launched on the EOS blockchain in 2018. Over the past seven days, the dollar value of Karma increased 6,530% as the token climbed from a subcent price of $0.000464 up to $0.030767.

Junk, there’s probably only one person that threw more than $200 into that junk and will experience a life changing profit. I could be wrong though, xbt was life altering for thousands that threw tip money into it.
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Re: Cryptocurrency in Free Fall

Post by novolog »

"free fall" and "soar" threads... are bogleheads recognizing a new asset class??? :D :shock:
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Re: Cryptocurrency in Free Fall

Post by ohboy! »

My highest return on crypto right now is BNB. Im pretty anti Binance in general, but in 2018 it was one of the best places to buy. Coinbase only had like 5 coins at the time. On Binance if you have BNB the trading fees are less. I was just looking and my avg cost basis for BNB is .79cents. Sold some for $300. What hurts though is looking back at the fees I paid in BNB in 2018. I had 100ish trades. Much like ETH transaction fees over time. Now Im sure to buy more ETH to cover any transaction fees, it also then dodges realizing gains with fees.
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Re: Cryptocurrency in Free Fall

Post by YRT70 »

thenextguy wrote: Mon Mar 15, 2021 2:50 pm LOL. 10% is not a free fall.
The stocks in free fall thread gets bumped when stocks are 0.1% down :D
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Re: Cryptocurrency in Free Fall

Post by rebellovw »

Seems to be going down today - hopefully it hits my limit order at 45.
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Re: Cryptocurrency in Free Fall

Post by JBTX »

So what exactly happened that Bitcoin is 20% less than 2 weeks ago?
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Re: Cryptocurrency in Free Fall

Post by Marseille07 »

JBTX wrote: Wed Mar 24, 2021 6:15 pm So what exactly happened that Bitcoin is 20% less than 2 weeks ago?
https://finance.yahoo.com/news/ray-dali ... 08375.html
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Re: Cryptocurrency in Free Fall

Post by JBTX »

Marseille07 wrote: Wed Mar 24, 2021 6:23 pm
JBTX wrote: Wed Mar 24, 2021 6:15 pm So what exactly happened that Bitcoin is 20% less than 2 weeks ago?
https://finance.yahoo.com/news/ray-dali ... 08375.html
He has been saying this for months I think. People start listening now? Janet Yellen hinted at the same thing a while back.
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Re: Cryptocurrency in Free Fall

Post by Marseille07 »

JBTX wrote: Wed Mar 24, 2021 6:26 pm
Marseille07 wrote: Wed Mar 24, 2021 6:23 pm
JBTX wrote: Wed Mar 24, 2021 6:15 pm So what exactly happened that Bitcoin is 20% less than 2 weeks ago?
https://finance.yahoo.com/news/ray-dali ... 08375.html
He has been saying this for months I think. People start listening now? Janet Yellen hinted at the same thing a while back.
Huh, I didn't know that. I know India is working on some laws to ban crypto though.
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Re: Cryptocurrency in Free Fall

Post by JBTX »

Marseille07 wrote: Wed Mar 24, 2021 6:29 pm
JBTX wrote: Wed Mar 24, 2021 6:26 pm
Marseille07 wrote: Wed Mar 24, 2021 6:23 pm
JBTX wrote: Wed Mar 24, 2021 6:15 pm So what exactly happened that Bitcoin is 20% less than 2 weeks ago?
https://finance.yahoo.com/news/ray-dali ... 08375.html
He has been saying this for months I think. People start listening now? Janet Yellen hinted at the same thing a while back.
Huh, I didn't know that. I know India is working on some laws to ban crypto though.
https://www.bridgewater.com/research-an ... on-bitcoin
It is, after all, a public ledger and a material amount of Bitcoin is held in a non-private manner. If the government (and perhaps hackers) want to see who has what, I doubt that privacy could be protected. Also, it appears to me that if the government wanted to get rid of its use, most of those who are using it wouldn’t be able to use it so the demand for it would plunge. Rather than it being far-fetched that the government would invade the privacy and/or prevent the use of Bitcoin (and its competitors) it seems to me that the more successful it is the more likely these possibilities would be. Starting with the formation of the first central bank (the Bank of England in 1694), for good logical reasons governments wanted control over money and they protected their abilities to have the only monies and credit within their borders. When I a) put myself in the shoes of government officials, b) see their actions, and c) hear what they say, it is hard for me to imagine that they would allow Bitcoin (or gold) to be an obviously better choice than the money and credit that they are producing. I suspect that Bitcoin’s biggest risk is being successful, because if it’s successful, the government will try to kill it and they have a lot of power to succeed.
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Re: Cryptocurrency in Free Fall

Post by danbdzs »

I like that cryptocurrencies fall.
Probably everybody wishes they had bought more(some?) bitcoin earlier
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Re: Cryptocurrency in Free Fall

Post by watchnerd »

danbdzs wrote: Wed Mar 24, 2021 6:45 pm I like that cryptocurrencies fall.
Probably everybody wishes they had bought more(some?) bitcoin earlier
Not me.

I don't want to kill the planet.

It's the most environmentally unfriendly way to conduct financial transactions currently in existence.
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Re: Cryptocurrency in Free Fall

Post by Marseille07 »

watchnerd wrote: Wed Mar 24, 2021 6:56 pm
danbdzs wrote: Wed Mar 24, 2021 6:45 pm I like that cryptocurrencies fall.
Probably everybody wishes they had bought more(some?) bitcoin earlier
Not me.

I don't want to kill the planet.

It's the most environmentally unfriendly way to conduct financial transactions currently in existence.
Great minds think alike!
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Re: Cryptocurrency in Free Fall

Post by fingoals »

watchnerd wrote: Wed Mar 24, 2021 6:56 pm
danbdzs wrote: Wed Mar 24, 2021 6:45 pm I like that cryptocurrencies fall.
Probably everybody wishes they had bought more(some?) bitcoin earlier
Not me.

I don't want to kill the planet.

It's the most environmentally unfriendly way to conduct financial transactions currently in existence.
Are you sure about that? Have you thought about how much energy current traditional financial system consumes on the global scale (banks' offices and branches [lighting, ventilation, security, etc.], their IT infrastructure, offices and IT infrastructure of financial companies, including hedge funds and HFT companies [which use supercomputer-level of compute resources], adverse ecological impact - in terms of both energy used and pollution - of millions of their employees driving to/from office work and/or flying globally for business and much more? My guess is that the global cumulative energy consumption of the current traditional financial system is orders of magnitude higher than that of all PoW (proof-of-work)-based cryptoassets combined.
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