Bitcoin is tanking

ROman77

ROman77

Rock Star
Silver Level
Joined
Oct 26, 2018
Total posts
255
Chips
0
I can handle the fall, but I can't handle the brake.:)
I don't mean tilt ...I play everything just as well, it just gets to the point that I can hang out in poker for days and my game is spoiled, as well as health)
 
MatMackenz

MatMackenz

Visionary
Silver Level
Joined
Jul 23, 2018
Total posts
641
Chips
0
The cycle will continue, as it has since the creation of bitcoin. Many times exploding in value, then returning to the lower prices. I do not think this is the last dance for bitcoin. One day it will have another rise to glory.
 
V

vzmoney

Enthusiast
Silver Level
Joined
May 28, 2006
Total posts
62
Chips
0
Bitcoin Tanking

We all knew the days were coming! Bitcoin just isn't a reliable currency if u ask me. But hold on for long enough it will come back hopefully!
 
Poker_Mike

Poker_Mike

Legend
Loyaler
Joined
Aug 15, 2017
Total posts
4,753
Awards
2
Chips
347
Bitcoin is NOT a currency. It is a thing. Like a piece of wood that people are bartering for goods and services. There is no inherent value in it and it is subject to the greater fool theory.

Now blockchain technology is a GREAT invention. And, will be incorporated into all kinds of things that we use everyday. From currency transactions to voting and even real property transfers.

I could use cryptocurrency to buy goods and services. But I would NEVER buy and hold any cryptocurrency for any longterm. There is no history to it's value and we will find out where the floor is on the price.

My nephew told me that he wants to buy and hold cryptocurrency for his retirement plan....LOL...I hope he didn't.

Good luck !
 
S

SlowRollAA

Enthusiast
Silver Level
Joined
Oct 16, 2018
Total posts
89
Chips
0
I do not like that it is happening.
 
VMVarga

VMVarga

Rock Star
Silver Level
Joined
Oct 16, 2018
Total posts
217
Chips
0
Bitcoin is NOT a currency. It is a thing. Like a piece of wood that people are bartering for goods and services. There is no inherent value in it and it is subject to the greater fool theory.

Now blockchain technology is a GREAT invention. And, will be incorporated into all kinds of things that we use everyday. From currency transactions to voting and even real property transfers.

I could use cryptocurrency to buy goods and services. But I would NEVER buy and hold any cryptocurrency for any longterm. There is no history to it's value and we will find out where the floor is on the price.

My nephew told me that he wants to buy and hold cryptocurrency for his retirement plan....LOL...I hope he didn't.

Good luck !

And what is the history behind the US dollar? Why are you so confident to hold 100% in US currency? Or Gold? The US dollar is fiat currency, which still makes it a real currency. There is no INTRINSIC value behind gold either, and yet people still hold it as assets.

And by the way, bitcoin is not a thing like a "piece of wood," because wood actually does have INTRINSIC value as building material and fuel.

All retirement plans are risky. All holdings are risky. Some are riskier than others, and bitcoin is clearly riskier, at this point in time, than other holding options. The safest being bonds and CDs, the riskiest being stocks, and somewhere in between is fiat cash and bullion. All of it is at risk, and this is why it is so important to have smart people running the government and keeping watch over the rats and snakes that want to take total control of the entire economy and global market.

At least your nephew is trying to actually have a retirement plan.
 
Reload

Reload

Legend
Platinum Level
Joined
Sep 11, 2015
Total posts
1,025
Awards
9
Chips
231
Look to things like this: for someone who understands a little about markets, for many (like me) this is indeed a good thing, and i'm waiting that it goes down a little more. Because this is about cycles, and if you watch carefully, you know when it's the right time to action (buy).
 
J

jbosker84

Enthusiast
Silver Level
Joined
Nov 21, 2018
Total posts
39
Chips
0
Buy now

This makes it the perfect time to invest in cryptocurrencies. It went through an infant stage and excitement shot it to the moon. Now, it's got some growing up to do. Once new software is in place to protect your currency and becomes excepted my major nations, there is no telling how high it will get. Some experts have it going to over 100,000 a Bitcoin. I'm not saying throw your life savings at it but even 1% of your disposable income could turn into a nice retirement side savings.
 
B

bstest

Visionary
Silver Level
Joined
Oct 27, 2015
Total posts
522
Chips
0
Comparing the motion of poker to bitcoin is a unique approach. In crypto you look at the technicals, make your bet and hold on til the timing is right to liquidate or just hold. In poker, it's hard to hold, except for bubble time, in my opinion, your playing hard all the time with a definite finish. But the concept of not being able to handle the swings certainly does apply to both, as you say.
 
X

xRanieri

Enthusiast
Silver Level
Joined
Oct 11, 2015
Total posts
89
Chips
0
I'm not selling my BTC right now. In fact, I'm extremely happy it's dropping so I can buy more of it. I'm buying at $3,500 about 0.5 BTC and then waiting 2 years and it will go up to about $20,000. Trust me, I know these things.

NOTE: I do not have any market experience whatsoever, nor do I have any experience trading currencies or buying stocks or bonds. In fact, I know less about how currency fluctuates than most people. I am therefore not liable for any advice given. If I was you I'd sell immediately before this thing tanks. I however, am reckless and have reasons to believe that the economy of bitcoin will increase in the near future.
 
Zorba

Zorba

27
Platinum Level
Joined
Jul 21, 2007
Total posts
41,806
Awards
15
AQ
Chips
803
Any money to be made from crypto currency was made long ago, only the suckers are in it now.

:bandit:
 
Poker_Mike

Poker_Mike

Legend
Loyaler
Joined
Aug 15, 2017
Total posts
4,753
Awards
2
Chips
347
Zorba said it plainly.

If I lived in argentina then I would consider cryptocurrency as my savings account.

I post these because they articulated some ideas well....

From some comments at the L.A. Times...

Apparently, some folks just can't face the facts. Maybe they lost a lot of money, and they are afraid of looking like idiots, so they are now trying to justify their investment, which, ironically, just makes them look worse. It doesn't matter what lofty goals Bitcoin was originally created to achieve (if that all wasn't just hype) because it soon became obvious that it had turned into a rapidly growing speculative bubble. At that point, it was just a form of gambling. People were holding on, just trying to time their jump from the money train before the crash. Some people jumped too late.


Bitcoin and other cryptocurrencies were never intended to be investment platforms. They were not created to buy low and sell high. They were created to streamline transfer of money between institutions and countries. Some were created to improve accounting practices. Cryptocurrencies are far from dead as many banks and companies such as western union are incorporating cryptocurrencies such as XRP as a method of moving money. The media hyped them and people who knew nothing about them bought for the wrong reasons. The market is now returning to a state of homeostasis. However many did make money off of the volatility. Falling prices create just as much opportunity to profit as do rising prices.
 
X

xRanieri

Enthusiast
Silver Level
Joined
Oct 11, 2015
Total posts
89
Chips
0
Any money to be made from crypto currency was made long ago, only the suckers are in it now.

:bandit:


I disagree, but have no evidence to support my claims. There's too much potential in BTC for it to just die out and stay low. You're completely correct about the "golden days" of bitcoin investing, when it spiked up like crazy 2015-2017. Right now it's risky, but it might make a come back.
 
T

Triniti

Rising Star
Bronze Level
Joined
Feb 11, 2012
Total posts
18
Chips
0
Any money to be made from crypto currency was made long ago, only the suckers are in it now.

:bandit:

And US poker players... hehe
I consider bitcoin is the best thing ever invented for financial operations especially for poker rooms, online casino and forex.
 
Zorba

Zorba

27
Platinum Level
Joined
Jul 21, 2007
Total posts
41,806
Awards
15
AQ
Chips
803
And US poker players... hehe
I consider bitcoin is the best thing ever invented for financial operations especially for poker rooms, online casino and forex.
Best thing ever [emoji23].........have you ever heard of a thing called cash, it can be transferred digitally and it has a real value that stays fairly stable which gives people confidence unlike crapto currencies that are purely a gamble.

[emoji106]
 
frnandoh

frnandoh

Legend
Bronze Level
Joined
Jul 27, 2016
Total posts
1,711
Awards
2
BR
Chips
70
:bawling::bawling::bawling::bawling::bawling: :bawling:

d08bdeeb-7726-405f-8a72-3463bd83d3fd.png
 
lcid86

lcid86

Legend
Loyaler
Joined
Feb 28, 2009
Total posts
3,191
Awards
9
US
Chips
418
Crypto is the future but like any currency it needs some underlying item to bsck it. Not sure btc is gonna work but crypto with the right support system (bank or govt?) will eventually succeed.
 
tauri103

tauri103

Legend
Silver Level
Joined
Aug 29, 2016
Total posts
2,144
Awards
1
Chips
24
he has a lot of people who made a fortune with bitcoin. I also think he still has the opportunity to earn a lot of money in the long run thanks to the cryptocurrency.
 
P

prstarmiller

Rising Star
Bronze Level
Joined
Nov 29, 2018
Total posts
3
Chips
0
hooold your bitcoins for atleast 5 years
 
J

JeetsMcskeets89

Enthusiast
Silver Level
Joined
Sep 10, 2018
Total posts
99
Chips
0
Bitcoin Tank

its crazy how much bitcoin has fluxuated over the years its crazy if you think about it 1$ to 100$ to 20k back to 4k
 
Poker_Mike

Poker_Mike

Legend
Loyaler
Joined
Aug 15, 2017
Total posts
4,753
Awards
2
Chips
347
its crazy how much bitcoin has fluxuated over the years its crazy if you think about it 1$ to 100$ to 20k back to 4k


Holding bitcoin doesn't provide a return with interest.

As interest rates around the world increase it makes more sense to hold currency in an interest bearing account and not in cryptocurrency.

Good luck !
 
playinggameswithu

playinggameswithu

Legend
Silver Level
Joined
Nov 7, 2017
Total posts
2,250
Chips
0
It is a really fragile online cash BTC. I don't see the justification for pay $1,000's into it. When mainstream retails implement it then it will spike in value. BTC is fiat currency atleast Ether has computing power behind it.
 
Top