Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
- Start date
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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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Well we did pump trillions into the market and are gonna pump another few trillion.
Wingz
Being Poor Sucks.
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That is my reasoning. With inflation some of that money is gonna go to cryptocurrency. SHIB is seen as the poor man's crypto.
Cheap
Can get millions for little money.
Gives a dopamine hit when it goes up fractions of a penny.
Trendy to own crypto.
When inflation hits it's good to own the things that are inflating. Property is very high and will only go up so is mostly unaffordable for the masses.
Wingz
Being Poor Sucks.
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Tmac
Adventurer
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I was just going to come say this
Meanwhile, FLOKI keeps swinging back and forth, but if you look at the support levels of those swings it shows a fairly constant rise. It's also got a lot of market cap room to keep growing. For instance, if its market cap tripled we'd still be only at $1.8B. If anyone's still looking to get in on that one, I'd look for the ~$.00005 level to buy in.
All IMO, caveat, YMMV, DYOR, caveat caveat, etc.
Tmac
Adventurer
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I was just going to come say this
Meanwhile, FLOKI keeps swinging back and forth, but if you look at the support levels of those swings it shows a fairly constant rise. It's also got a lot of market cap room to keep growing. For instance, if its market cap tripled we'd still be only at $1.8B. If anyone's still looking to get in on that one, I'd look for the ~$.00005 level to buy in.
All IMO, caveat, YMMV, DYOR, caveat caveat, etc.
I can't buy FLOKI on Coinbase =/
swayze22
Elite
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I'm 75% cash (USDC), sold my BTC & ETH earlier this morning (both 50%+ return). Sold 100% of ADA about two weeks ago at ~$2.30 with my avg being <$1, Remaining 25% is in BTC. looking to get back in later on.
have a random amount of TRU in a wallet I don't ever look at or touch though.
godspeed sailors
have a random amount of TRU in a wallet I don't ever look at or touch though.
godspeed sailors
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Xfer some ETH to a metamask (or similar) wallet, then go to town on Uniswap. EZPZ.
Tmac
Adventurer
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He's swing trading. Looking to get back in when ETH and BTC likely dip back down in the near future.
EDIT: I've been playing with this in a spreadsheet lately. Not taking into account txn fees which vary, if you start with 2 ETH and swing trade between a level of $2850 and $3900, you'll end up with 13.13 ETH after 6 trades and putting the ETH made back into each trade. 2850 - 3900 is a pretty optimum level, most likely the swings won't be exactly that. Also, it looks like if you're waiting long enough for it to swing between those levels it would take about 1 year to make 6 trades. But still, the potential is there to make a lot of scratch.
Tmac
Adventurer
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Yeah I know that, I just meant why now and what's the reentry point.
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swayze22
Elite
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Mostly my gut, nothing scientific but obviously I keep up with everything. A lot of stuff has been closest to all time highs this year since that point in Aprilish, so 6months. There was a pretty big surge past few weeks. I've watched these ebbs and flows (some dramatic) over the past two years and realized I could have been taking some profits and buying back in repeatedly even paying 50% attention to the market. The only reason I didn't take it all out now is because there is always that random chance in crypto of some outlier event happening and the true moonshot. I don't think it will but that's why I left the 25% in BTC. I'm still long and bullish on crypto in general.
I plan to evaluate again around $40k and $2500. if the time table draws out too long before we ever get there i'll re-asses that also.
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Looks like SHIB is in the process of bouncing off the 22 level. It's back up to 24 now. Even for crypto though, this is some crazy volatility. Personally I'm not touching it and mentally adding it to the coins I could have been in on but missed, AKA the Time Machine List.
That may change if it goes back to 12 though...
Tmac
Adventurer
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I've got TradingView set to 1h and got my potential buys marked green (sold at red). If it bounces hard at green I’ll join the uptick, otherwise I wait for the next line of resistance. Rinse and repeat:
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SHIB's decimal place is entirely for psychology and is part of SHIB's scam. They want suckers to buy it instead of BTC because 'it's cheap'. Doge was the 'poor man's crypto' until a new poor man's crypto came along and now Doge holders have bags. Any idiot can make a ERC20 token leveraging Ethereum's network and that's what happened. I was thinking about making a token called 'Worthless' as a joke. You can buy a million for a penny! It's also totally not a security because it makes no promises of gains.
Bitcoin's decimal place is arbitrary and meaningless. It doesn't matter where it is. The smallest unit of BTC is a satoshi, and one sat is worth 0.054 cents right now. It'll be 1 cent before next decade. Services are starting to use sats as the standard unit now. (e.g. Lightning)
If you want to gamble, do margin longs on BTC. Granted that's hard to do for Americans because the regulators are gigantic cunts here. If you buy SHIB instead, get out early
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Tmac
Adventurer
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