Tmac
Adventurer
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Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
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Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!
Go here and give us your nominations!Who's been the biggest Asshat in the last year? Give us your worst ones!
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Technically not. It's supposed to be treated the same way as moving into cash (I asked this question myself a while back.)Jackie Treehorn does moving into usdc prevent a tax event?
Tmac
Adventurer
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If you move to cash how is that not taxable? Bc it’s not a gain or a loss?
Sanrith Descartes
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So the last set of margin calls should have flushed out a bunch of peeps in this area. From here to 30k seems to be the last line of defense. Under 30k you will start seeing margin calls again and at 24k that publicly traded company who bought a shit ton of BTC on the books begining at 24k will probably be forced by the board to start offloading positions. Just my guess on how things are looking right now. TSLA may or may not still own a ton of it, but Elon can ignore the board so it's less of a worry there.
Of course I could be totally wrong, so there is that.
Of course I could be totally wrong, so there is that.
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If you're on Polygon already, I think I'm going to make an interesting gamble that's virtually never talked about. This is available on QuickSwap.
This seems to be very under the radar, I've seen it mentioned a handful of times at best in the course of reading crypto related social media.
Telcoin:
Low market cap at #69 overall. Is down 70 percent from its high a couple of weeks ago.
www.coingecko.com
What's interesting about this fucker, and I'm surprised it is never brought up or shilled anywhere...
The coin was supported by a Nebraska Senator and made its way into a Nebraska state bill, LB 649, see link below:
Governor is going to sign this bill into law soon (whether that does anything or not who knows in this market, but interesting.)
lincolncitizen.com
Looks like they have an app to send money that's on the Apple Store and Google:
www.telco.in
I think I'm gonna throw 10 grand at this thing. Maybe not today, but later this week.
This seems to be very under the radar, I've seen it mentioned a handful of times at best in the course of reading crypto related social media.
Telcoin:
Low market cap at #69 overall. Is down 70 percent from its high a couple of weeks ago.
Telcoin Price: TEL Live Price Chart, Market Cap & News Today | CoinGecko
Track the latest Telcoin price, market cap, trading volume, news and more with CoinGecko's live TEL price chart and popular cryptocurrency price tracker.
www.coingecko.com
What's interesting about this fucker, and I'm surprised it is never brought up or shilled anywhere...
The coin was supported by a Nebraska Senator and made its way into a Nebraska state bill, LB 649, see link below:
Governor is going to sign this bill into law soon (whether that does anything or not who knows in this market, but interesting.)
Can ‘Triple Threat’ Telcoin Disrupt Crypto From Nebraska?
Cryptocurrencies entered the month of May with a collective market cap north of $2 trillion, driven by the emergence of
lincolncitizen.com
Looks like they have an app to send money that's on the Apple Store and Google:
Home | Telcoin
Telcoin provides low-cost, high-quality financial products for every mobile phone user in the world.
I think I'm gonna throw 10 grand at this thing. Maybe not today, but later this week.
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James
Ahn'Qiraj Raider
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I disagree with this entirely, otherwise Eth would still be $4k.
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Sanrith Descartes
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From a chart perspective (I know I'm looking at it from an equities perspective), the last 24 hours has seen lower lows and lower rallies. This isnt a good sign. Too much buyer exhaustion and getting closer to looking like capitulation.
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Tmac
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Sanrith Descartes
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Give the fuck up.
Edit: in equities markets almost always there is buying going on somewhere. Some sector or sub sector does well while the rest tanks. It's why you see usually at least 10-15% advances on even a really shitty day. Some days though buyers just pack it in. Everything is red because no one believes it's a good time to buy. Anything. That's capitulation.
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Tmac
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And in these cases you just wait for the bottom? Sounds scary.
How often does this happen in equities?
Sanrith Descartes
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Not "that" uncommon. When you see those long multi-day/multi-week moves downward after the market has over heated and needs to just stop and correct. We had a pretty noticeable period of Capitulation last March if you recall. And again back in Sept or so. Sometimes buyers just sit back and wait because doing nothing is sometimes the best alternative.
Buyers have to be able to see a clear path forward. One reason I backed out of options the last few weeks is I don't have a clear view of where the equities Markets are going. Too much uncertainty right now. Most investors abhor uncertainty.
Threelions
Victory Through Harmony
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Thanks to all who sold me ETH at 1.9k. I will drink to your honor and lost tendies at a later date.
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Sanrith Descartes
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Blazin
Creative Title
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This is a sign of not hitting capitulation . You’ll know it when this thread slows down some of the bulls sell and give up. As long as we are still in the “this is a bargain” mode then it could fall further . Not every sell event is driven to that extreme flush out event, but bubbles usually are.
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Sanrith Descartes
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Just broke below 32k. 30k is a huge psychological level. It's Sunday maybe a trip to church should be in the cards and pray it holds 30k.
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Sanrith Descartes
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If it hits 24k I believe it's gets crushed with microstrategy's balance sheet holdings underwater. I honestly can't see their board allowing them to go underwater on the balance sheet. Since they have been dollar cost averaging upwards they could be selling somewhere after 30k gets breached. That will be a massive dump on the market.
Sanrith Descartes
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Interesting. I have no doubt crypto will rebound because of the obvious integrations, but this (and particularly an event like that...) I wonder what kind of lasting stain it'll put on investing in it. i.e. another couple / few years to get confidence back.
I was up $125k at peak and I escaped +$75k. I don't have any confidence in rebuying at this point.