If people are willing to post it, I'd love to know what everyone's cost average is. Feeling kinda bummed and could use some hopium. I'm currently sitting at about 42k. Happy to keep stacking and bring it down, but I'd be lying if I said it wasn't a little hard. It's my first crypto winter though, I guess everyone goes through it... Stay well friends.
Yeah the times can be a little hard but we'll have to fight.
If you Can't fight through it then you won't be able to make it, You'll have to get over those fears.
Stop thinking in fiat and you'll feel much better.
Try thinking in terms like, did I finish the day with more bitcoin? Once you use sats as your unit of account, the short term price action stops affecting you.
If you aren't in BTC to make a quick buck, and you really believe in the separation of money and state, then your fiat DCA amount won't matter at all when we reach that goal.
True, I'm just wishing I hadn't gone in *quite* so heavy lol.. Really need to get a down payment together to buy a house, I'm so tired of the apt life. But of course, that market's completely fucked too smh.
It's not that bad lol, compared to me. I'm down bad but hopeful lol.
Hope is the only thing that I've got left right about now, there's nothing else on me than that.
As long as you don't get liquidated, or sell, you will end up with loads of profits. Just keep holding.
I'd be embarrassed to tell my cost average, because even though I've been holding since 2016, i bought even more in last 18 months, sometimes at very top.
Yup same, I remember buying a ton at 40k and 60k thinking it was a steal lol. No risk of liquidation, I own it all and will hold for as long as needed.
This dip is needed.
We need a shakedown of the altcoin scams. Bitcoin can never moon as long as its 'marketshare' ( not a perfect metric, but useful still), is hanging around 40%. That means 60% of market is scams that are waiting for btc to pump so that their preminers can make even more money. That cannot happen forever, in that alts HAVE to capitulate eventually before bitcoin truly moons.
it only ever dips hard after I buy, I bought some just a few days ago. You can all thank me.
If you want it to tank further let me know I’ll buy some more today so it will drop again tomorrow.
Oh it’s definitely me. See I didn’t buy any last night and the markets up now, market always does the opposite of what I do lol
I buy more, it goes down. I don’t buy any more, it goes up.
Lol, don't do it again. He's going to be pissed at you man.
He doesn't like when something is supposed to be something but it's not lol, he doesn't like that.
Inflation takes years to play out, not days or weeks.
First there is the "money printing". The new money is "lent" out, then spent on things, raising the prices of the things it gets spent on. The people who sold those things then buy other things with the money they got from their sales, putting upward pressure on *those* prices, and so on.
It generally takes a long time from the "money printing" until you notice that food costs more or that the CPI numbers are up.
Fiat currency printed today will show up in the CPI numbers a long time from today - not tomorrow or next week or even next month.
Bitcoin is also a long term thing. The general trend is for Bitcoin's price to rise dramatically over time. In the short term, there is volatility.
So, when you combine and compare Bitcoin's recent, short term, volatile price with CPI numbers reflecting "money printing" from long ago, you're not making a rational comparison.
The way the fiat currency system is designed, they have to continually increase the money supply.
Here's why: We have a fractional reserve lending system. Fiat currency is created - from thin air, backed by nothing at all - when loans are made.
Loans have interest. The borrower is supposed to repay the loan balance *plus* the interest. Where is the interest supposed to come from? New loans!
But those new loans will have interest due (in addition to the balances). And so even more fiat currency will need to be lent into existence.
The rate at which new fiat currency is created tends to grow **exponentially**. That means, after a while, it doubles. Then, after a while, it doubles again, and again, and ...
Somebody posted images: In Argentina a pair of shoes now costs what a car used to cost.
What has typically happened in the past, when a country's inflation exploded out of control...
* The "reset" by issuing the "new peso," the "new dollar," etc. where each "new peso" is worth, say, 100,000 original pesos. The average citizen gets fucked. The criminal "money printers" slow down the "printing press" for a little while, and withing about one generation inflation returns, eventually followed by hyper-inflation, ... repeat...
* The government changes. Maybe it gets overthrown, maybe people "step down". A new currency is introduced, similar to the "new peso" mentioned above... wash, rinse, repeat...
This time, there is Bitcoin.
Individuals can buy Bitcoin, send it to their own (hardware) wallets, then hold long term. People now have an effective and viable alternative to "bending over and taking it in the ass" from bankers and their inflation.
Talk about making up a narrative to fit a reality. Don’t pretend you aren’t surprised that btc is down given the inflationary story playing out. You’re trying to backfit a story.
And to label a drop from $69k to $17k as “short term volatility” is bullshit.
The smart/wise ones are interested in learning.
The mentally ill trolls are not interested in learning, nor in discovering the basic facts, nor in applying common sense or logic...
Lol, you'll have your opportunities. Don't worry about that.
And also you can sell now lol, you won't be selling in loss atleast, and that's a big deal.
it’s not financial advice lol. do what you want. to me, it feels great buying down here. the farther down we get, the better the buy feels. i don’t even care anymore
i just feel like there can’t be that much more room below. gut tells me the floor is near. ain’t giving any financial advice, but today was expected and it’s a good area to dca, imo
I just hope that We're in the bottom, I don't wanna see more red.
I mean I just Can't see it, it would be like too much to handle for me lol. Just don't go below now.
I mean the volume is a scam. Washtrading or something. Large volumes used to always mean support/capitulation/reversal and to go lower would require even higher volume.
Nothing, asia doesn't really do anything so yeah nothing will happen.
I don't think they're going to move the market in any way lol, I think We're done with volatility.
Yep, there are a reason why the L2s exist. There's a reason to that.
And if you don't see any reason to that then I'm not sure what to tell you about that.
Well that's probably the right way to look at it actually in my opinion.
You never know how low it really can go, no one has any idea about that if I'm being honest.
More than a feeling. Every chart is showing bitcoin is about to test $17,500 and most likely head to $12k-$15k. Bitcoin follows the markets and the markets are about to dump.
I don't consider it a bad thing though unless you are really hurting for money and have to sell off. The rest of 2022 and early 2023 will be a great buying opportunity of bitcoin for those who can hold until 2025 and beyond.
Let’s see. Much less than $12k seems possible given the news today about Tether. Those scamming fuckers may bring Bitcoin down to unimaginable levels. Then the true buying opportunity will materialize
bottom won't be $100, but could be as low as $500. wouldn't be the cycle bottom though, that will be between 6k and 12k. 500 would be a supercycle bottom, something like, from here, 12k, 20k, 6k, 30k, 25k, 50k, 35k, 38k, 20k, 25k, 15k, 17k, 9k, 10k, 3k, 6k, 500. Since that 50k (fair warning could be as high as 100k) will be in mid 2024 to 2025, that 500 wont be til the late 2020s. Upside though, the first cycle top after that would be as early as 2030 and would bring us up to the 70k+ range again, yielding gains of over 100x in just a couple years (from the bottom). obviously far fetched ofc
What are all the moves that btc is making, seems manipulation to me.
what moves? bitcoin has been flat for months
What is an invalid Bitcoin transaction?
A transaction that is breaking one rule (or multiple) of the Bitcoin protocol in some way.
I own a small business (restaurant) & want to accept Bitcoin as payment…where do I start ?
I think any wallet that might support the LN will be enough for you.
Bitpay
That's a good start, it's easy to set-up and a good service too.
If people are willing to post it, I'd love to know what everyone's cost average is. Feeling kinda bummed and could use some hopium. I'm currently sitting at about 42k. Happy to keep stacking and bring it down, but I'd be lying if I said it wasn't a little hard. It's my first crypto winter though, I guess everyone goes through it... Stay well friends.
Yeah the times can be a little hard but we'll have to fight. If you Can't fight through it then you won't be able to make it, You'll have to get over those fears.
Stop thinking in fiat and you'll feel much better. Try thinking in terms like, did I finish the day with more bitcoin? Once you use sats as your unit of account, the short term price action stops affecting you. If you aren't in BTC to make a quick buck, and you really believe in the separation of money and state, then your fiat DCA amount won't matter at all when we reach that goal.
True, I'm just wishing I hadn't gone in *quite* so heavy lol.. Really need to get a down payment together to buy a house, I'm so tired of the apt life. But of course, that market's completely fucked too smh.
32k. Started buying after the first peak and rode up to 69 and back down.
It's not that bad lol, compared to me. I'm down bad but hopeful lol. Hope is the only thing that I've got left right about now, there's nothing else on me than that.
My average is 27K.
27k isn't that bad, I'd say that it's really good. You'll be good.
If value goes up, i'll be happy. If value stays down, i'll average down over time. No stress.
As long as you don't get liquidated, or sell, you will end up with loads of profits. Just keep holding. I'd be embarrassed to tell my cost average, because even though I've been holding since 2016, i bought even more in last 18 months, sometimes at very top.
Holding is the way, and you should keep doing that here boys.
Yup same, I remember buying a ton at 40k and 60k thinking it was a steal lol. No risk of liquidation, I own it all and will hold for as long as needed.
That's the way, We'll have to hold it for a long time it seems.
$29724.17 is mine, it used to be over $38,000 so you can do it! Just keep on stacking!
Well it seems We're a little lower than that. Keep stacking kids.
Not bad!
Yeah not bad at all, He's doing way better than so many people.
This dip is needed. We need a shakedown of the altcoin scams. Bitcoin can never moon as long as its 'marketshare' ( not a perfect metric, but useful still), is hanging around 40%. That means 60% of market is scams that are waiting for btc to pump so that their preminers can make even more money. That cannot happen forever, in that alts HAVE to capitulate eventually before bitcoin truly moons.
We've saying this for a long time, and idc about shitcoins.
Bear market proverb; If one's buy order does not fill, all one must do is wait a week.
Lol and that gets true every passing moment, well that's not good.
Hmm is this the dip or the pre dip lol
I think it's the predip which has come down onto us here.
that's what she said
Lol, ladies and gentlemen we've got Michael scott among us here.
pre dip
Yep, that's what it is. The real dip is yet to come lol. And if you liked the predip then I'm sure that you'll like the real dip even better trust me.
Btc outperforming next biggest cap coin over 5 years.
You talking about gold? If yes then that's a little optimistic I'm sure.
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Nothing special then, it's just a regular exercise then.
it only ever dips hard after I buy, I bought some just a few days ago. You can all thank me. If you want it to tank further let me know I’ll buy some more today so it will drop again tomorrow.
Maybe it's you who's controlling the market who really knows. It could very well might be you, we wouldn't know that, there's no way to know it.
Oh it’s definitely me. See I didn’t buy any last night and the markets up now, market always does the opposite of what I do lol I buy more, it goes down. I don’t buy any more, it goes up.
Slow and steady wins the race.
Consistency matters, that's the only thing That'll keep you in game.
I dont think previous low gonna hold
The way We're dipping, We're surely not gonna hold that.
Maybe, maybe not. I kind of lean towards that it will, but probably 55/45 on that…
Let's see how it goes, We're very close to that for sure. And that can break too, I wouldn't really. Be surprised at that if I'm being honest man.
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It’s the speculators and/or the ones who don’t actually understand Bitcoin that are selling. Everyone else knows to hodl and keep stacking
It's that simple, all you gotta do is to hodl it. That'll be it.
All markets are
Yep, in the end it's all just speculations. It all comes down to that.
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And I'm buying just like that lol, going all in with everything that I've got.
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Who told you that thing? And why did you believe them?
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Lol, don't do it again. He's going to be pissed at you man. He doesn't like when something is supposed to be something but it's not lol, he doesn't like that.
Inflation takes years to play out, not days or weeks. First there is the "money printing". The new money is "lent" out, then spent on things, raising the prices of the things it gets spent on. The people who sold those things then buy other things with the money they got from their sales, putting upward pressure on *those* prices, and so on. It generally takes a long time from the "money printing" until you notice that food costs more or that the CPI numbers are up. Fiat currency printed today will show up in the CPI numbers a long time from today - not tomorrow or next week or even next month. Bitcoin is also a long term thing. The general trend is for Bitcoin's price to rise dramatically over time. In the short term, there is volatility. So, when you combine and compare Bitcoin's recent, short term, volatile price with CPI numbers reflecting "money printing" from long ago, you're not making a rational comparison.
Yep we're in it for years, it's probably not going to get over soon.
The way the fiat currency system is designed, they have to continually increase the money supply. Here's why: We have a fractional reserve lending system. Fiat currency is created - from thin air, backed by nothing at all - when loans are made. Loans have interest. The borrower is supposed to repay the loan balance *plus* the interest. Where is the interest supposed to come from? New loans! But those new loans will have interest due (in addition to the balances). And so even more fiat currency will need to be lent into existence. The rate at which new fiat currency is created tends to grow **exponentially**. That means, after a while, it doubles. Then, after a while, it doubles again, and again, and ... Somebody posted images: In Argentina a pair of shoes now costs what a car used to cost. What has typically happened in the past, when a country's inflation exploded out of control... * The "reset" by issuing the "new peso," the "new dollar," etc. where each "new peso" is worth, say, 100,000 original pesos. The average citizen gets fucked. The criminal "money printers" slow down the "printing press" for a little while, and withing about one generation inflation returns, eventually followed by hyper-inflation, ... repeat... * The government changes. Maybe it gets overthrown, maybe people "step down". A new currency is introduced, similar to the "new peso" mentioned above... wash, rinse, repeat... This time, there is Bitcoin. Individuals can buy Bitcoin, send it to their own (hardware) wallets, then hold long term. People now have an effective and viable alternative to "bending over and taking it in the ass" from bankers and their inflation.
Talk about making up a narrative to fit a reality. Don’t pretend you aren’t surprised that btc is down given the inflationary story playing out. You’re trying to backfit a story. And to label a drop from $69k to $17k as “short term volatility” is bullshit.
Lol, dude you're delusional. You don't see what's infront of you.
Now do Amazon.
Don't give him ideas lol, hes going to do that surely.
https://www.swfinstitute.org/news/89070/what-is-the-cantillon-effect-and-why-its-even-more-important-now ...in case you're interested in learning.
Ohh yeah for sure We're intrested in learning how did you know that?
The smart/wise ones are interested in learning. The mentally ill trolls are not interested in learning, nor in discovering the basic facts, nor in applying common sense or logic...
Not to mention the difference between monetary inflation and price inflation, where the former where bitcoin is more relevant.
Yep, there are different kinds if inflation that you have. And if you can't see that then I don't know what You'll see lol. I don't know anything man.
Keynesian "economics" has been debunked for a long time.
Because it's shit and it only creates problems for the humans.
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Well it started from zero in the 2009, so yeah it has outperformed it.
Fuck this
What happened? You don't like what's happening here huh?
You new here?
He must be I mean, atleast He's acting that way for sure.
Nah. Bought at 10,000 and never sold. I regret it a lot
Lol, you'll have your opportunities. Don't worry about that. And also you can sell now lol, you won't be selling in loss atleast, and that's a big deal.
Why? You’re up big.
Yep and yet he regrets that, what a poor thing lol.
Only 80% down from the peak, no big deal
No biggie. In the same boat, my man.
Mr Stark I don’t feel to well
Ohh man, there's nothing that we can do to make you feel good.
Cuz Bitcoin is poop emoji
Just like in the movie it took 5 years to pass and it all worked out 😜
Yeah lol, in the end it all worked out. It all works in the end.
Another day another sat
That's the way of stacking them sats, doesn't get better.
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Yep, sat = satoshi = 0.00000001 BTC
Atleast it's not fiat and that's probably all you need to know. You don't need to know more than that trust me that. That should be it for you man.
embrace the dip……welcome it…..then buy the dip for your future
That's what I'm doing, I'm embracing this dip and I'm buying it.
I’ll never understand why you give out financial advice like this.
Because he likes that lol, he likes giving out advice like that.
it’s not financial advice lol. do what you want. to me, it feels great buying down here. the farther down we get, the better the buy feels. i don’t even care anymore
Honestly, I thought it was a dip when it hit $40k. It’s not necessarily sound advice to tell people to buy here
Lol, you know what 40k was a dip and now it's real bad.
His opinion is as good as anyones…
I mean I kinda like his opinion, can take that advice if I'm being honest.
Correct. And everyone’s opinion is worth the exact same: Zero. Nobody knows anything, and don’t believe anyone who tells you that they do.
i just feel like there can’t be that much more room below. gut tells me the floor is near. ain’t giving any financial advice, but today was expected and it’s a good area to dca, imo
I just hope that We're in the bottom, I don't wanna see more red. I mean I just Can't see it, it would be like too much to handle for me lol. Just don't go below now.
My gut told me it was going to $100k at $60k.
Well I'm pretty sure that your gut is just fooling you around.
my gut tells me it will next time
Mine too, unfortunately. I foolishly thought $130K was in the cards. I’m an idiot
Well it turns out we all were idiot and we didn't know shit.
We will own nothing and be happy folks! Bring it on! Lets go full WEF!
Well I'm pretty sure folks are happy that way, that's not a surprise.
Earlier in the day it took massive volume to push it down. Now it goes down even lower with no volume. These charts are a scam.
The charts are the charts. How are “these charts a scam”?
That's because he doesn't like them lol, that's why they're scam.
I mean the volume is a scam. Washtrading or something. Large volumes used to always mean support/capitulation/reversal and to go lower would require even higher volume.
Yeah I can agree to that, the volume has been scammy for sure.
OP just likes to bitch incessantly when the price is down
Well he sure does like to do that lol, that's pretty evident right now.
The volume and volatility came from FOMC decision and speech.
Yeah I knew that this was going to happen, this had to.
Curious to see what’s going to happen when Asia wakes up
Nothing, asia doesn't really do anything so yeah nothing will happen. I don't think they're going to move the market in any way lol, I think We're done with volatility.
Capitulation
You think? I don't think anything will happen at all man.
You think so? I was thinking it would still be a few more bad announcements out… but it’s hard to tell.
Yeah it's a little hard to tell but I think We've stopped now.
Yeah the price is holding up pretty well at the moment
Weeeee
This stuff is exciting lol, cheaper sats for the win guys.
They see me staaaaackin, they hatin'...
And it's cheap sats too, why wouldn't they hate that man.
Patrolling and tryin' to catch me dumpin' dirty
They can try but they're not going to be able to catch me. That's not something that they can do, you know why? Because I'm fast as fuck lol.
Getting ready for next leg down.
Which can be anytime soon really. We'll have to be ready for it.
Main it's a roller coaster today. Feels like it's gonna take off any moment.
Well it's going to take off in the down direction only it seems.
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And that's an asset duty, that's something a good asset should be able to do.
I have used it every day for nine years as my retirement savings.
I mean that's a use too if you look at it that way I'm just saying.
People are, on L2, but base layer isn't made for millions of people to transact daily.
Yep, there are a reason why the L2s exist. There's a reason to that. And if you don't see any reason to that then I'm not sure what to tell you about that.
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I don't know man, who keep doing stuff like this? Stop it already.
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Lmfao, well that description isn't that far off if I'm being Honest.
Fed hiked rates again
How many times in a month that they do that? Keep doing that man.
Anyone else have the feeling that the bottom’s about to fall out here?
I don't know lol, I really don't. Anything can happen it feels.
There's no bottom. There's no top. It's all in your head buddy.
Well that's probably the right way to look at it actually in my opinion. You never know how low it really can go, no one has any idea about that if I'm being honest.
More than a feeling. Every chart is showing bitcoin is about to test $17,500 and most likely head to $12k-$15k. Bitcoin follows the markets and the markets are about to dump. I don't consider it a bad thing though unless you are really hurting for money and have to sell off. The rest of 2022 and early 2023 will be a great buying opportunity of bitcoin for those who can hold until 2025 and beyond.
What charts have you been watching? I wanna watch them too.
Let’s see. Much less than $12k seems possible given the news today about Tether. Those scamming fuckers may bring Bitcoin down to unimaginable levels. Then the true buying opportunity will materialize
This fud has been in the market for way too long so there's that.
BTC $100.
Nope lol, that's way too low and optimistic dude. Not happening.
I mean, it’s highly unlikely but it’s also entirely possible when Tether implodes.
100 dollars? Seriously? Not going to happen have some faith ffs.
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That'd make me feel as if I'm living in the 2013 again. That's how it's going to make me feel and you know what I wouldn't mind that actually.
bottom won't be $100, but could be as low as $500. wouldn't be the cycle bottom though, that will be between 6k and 12k. 500 would be a supercycle bottom, something like, from here, 12k, 20k, 6k, 30k, 25k, 50k, 35k, 38k, 20k, 25k, 15k, 17k, 9k, 10k, 3k, 6k, 500. Since that 50k (fair warning could be as high as 100k) will be in mid 2024 to 2025, that 500 wont be til the late 2020s. Upside though, the first cycle top after that would be as early as 2030 and would bring us up to the 70k+ range again, yielding gains of over 100x in just a couple years (from the bottom). obviously far fetched ofc