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Started By
Message
BTC and ETH down 20%+ last month and down 60%+ YTD
Posted on 11/29/22 at 2:04 pm
Posted on 11/29/22 at 2:04 pm
I do not own any crypto but am wondering if this is a good buying opportunity.
Is it correct to get an individual wallet and avoid the large centralized exchanges like FTX and BlockFi that have so much negative publicity lately? I would have to do more research but understand I can “hold” the crypto myself if I have a “crypto” wallet?
Better to use a traditional Vanguard/Schwab platform and buy an ETF that tracks BTC or ETH? Assuming these exist what percentage of fees would one expect? Anyone doing this?
Is it correct to get an individual wallet and avoid the large centralized exchanges like FTX and BlockFi that have so much negative publicity lately? I would have to do more research but understand I can “hold” the crypto myself if I have a “crypto” wallet?
Better to use a traditional Vanguard/Schwab platform and buy an ETF that tracks BTC or ETH? Assuming these exist what percentage of fees would one expect? Anyone doing this?
This post was edited on 11/29/22 at 2:05 pm
5
Posted on 11/29/22 at 4:26 pm to Wind
I'm in a sit and hold position for the past few years but damn if these prices aren't tempting to get some more.
Posted on 11/29/22 at 4:26 pm to Wind
10K BTC....start buying then
Posted on 11/29/22 at 5:35 pm to Wind
5-10 years from now you will be happy you bought at these prices.
I'm buying but as others have said there is still room to move down.
I'm buying but as others have said there is still room to move down.
Posted on 11/29/22 at 5:35 pm to Wind
Are you computer savvy enough to use metamask and a ledger? I would be before I put anything at all into eth.
Waiting for sub $950 here
Waiting for sub $950 here
Posted on 11/29/22 at 7:01 pm to Wind
The scam bubble popped, granted the market is completely manipulated due to such a small trading supply so really pointless trying to predict price. Problem is that all the ponzi schemes have ran out of suckers to keep putting in real money. Tether and the likes can keep propping up the price but eventually people want to exchange it for something they can actually use.
I think you would be crazy to invest now since it is clear that still many large exchanges that are going to fail haven't yet. I definitely would not invest in something like gbtc etf since they won't even prove they even own the Bitcoin. Combine that with the fact their parent company DCG is billions in the hole due to their failed ponzi fund Gemini.
Once binance and tether go down and you still want to invest, have at it then.
I think you would be crazy to invest now since it is clear that still many large exchanges that are going to fail haven't yet. I definitely would not invest in something like gbtc etf since they won't even prove they even own the Bitcoin. Combine that with the fact their parent company DCG is billions in the hole due to their failed ponzi fund Gemini.
Once binance and tether go down and you still want to invest, have at it then.
Posted on 11/29/22 at 7:08 pm to UltimaParadox
quote:
The scam bubble popped, granted the market is completely manipulated due to such a small trading supply so really pointless trying to predict price. Problem is that all the ponzi schemes have ran out of suckers to keep putting in real money. Tether and the likes can keep propping up the price but eventually people want to exchange it for something they can actually use.
I think you would be crazy to invest now since it is clear that still many large exchanges that are going to fail haven't yet. I definitely would not invest in something like gbtc etf since they won't even prove they even own the Bitcoin. Combine that with the fact their parent company DCG is billions in the hole due to their failed ponzi fund Gemini.
Once binance and tether go down and you still want to invest, have at it then.
Posted on 11/29/22 at 7:11 pm to MrSpock
Where did I say it would die? If anything Bitcoin and crypto assets have proven over the last 14 years is that scammers will find new ways to scam people.
That is it's true utility. Somebody will come up with something new. I'm sure of that.
That is it's true utility. Somebody will come up with something new. I'm sure of that.
This post was edited on 11/29/22 at 7:13 pm
Posted on 11/29/22 at 7:14 pm to down time
quote:
Are you computer savvy enough to use metamask and a ledger? I would be before I put anything at all into eth.
Waiting for sub $950 here
Agree, ETH will have greater gains that BTC %. Better off buying ETH.
Posted on 11/29/22 at 8:20 pm to UltimaParadox
What are you calling a scam, I'm trying to pinpoint and understand. Your statements paint with a broad stroke
Is bitcoin itself a scam? Is crypto as a whole (including bitcoin) a scam? Are there certain "coins" that are fine but others are a scam? Are the platforms that deal with crypto the scam part (i.e. FTX/Blockfi/etc)? Are the people that buy these coins the scam?
Is bitcoin itself a scam? Is crypto as a whole (including bitcoin) a scam? Are there certain "coins" that are fine but others are a scam? Are the platforms that deal with crypto the scam part (i.e. FTX/Blockfi/etc)? Are the people that buy these coins the scam?
Posted on 11/29/22 at 8:31 pm to TigerTatorTots
The platforms are basically all scams outside of maybe Coinbase. They also caused the massive run up in price with their manipulation of the market.
99% of the coins are scams since they were literally invented to be rugpulls.
Bitcoin was not scam in the beginning, it had a good niche many years ago as a way to buy drugs. That was it's only utility. Now it's just a speculative asset with zero utility.
Most people who invested in crypto are retail and are providing the exit liquidity for professional scammers. They are just getting taken advantaged of in completely unregulated markets.
99% of the coins are scams since they were literally invented to be rugpulls.
Bitcoin was not scam in the beginning, it had a good niche many years ago as a way to buy drugs. That was it's only utility. Now it's just a speculative asset with zero utility.
Most people who invested in crypto are retail and are providing the exit liquidity for professional scammers. They are just getting taken advantaged of in completely unregulated markets.
Posted on 11/29/22 at 8:37 pm to UltimaParadox
quote:
Most people who invested in crypto are retail and are providing the exit liquidity for professional scammers. They are just getting taken advantaged of in completely unregulated markets.
yeah man, that never EVER happens in regulated markets like the stock market.
STUPID people everywhere.
Posted on 11/29/22 at 8:38 pm to UltimaParadox
quote:100% agree
The platforms are basically all scams outside of maybe Coinbase. They also caused the massive run up in price with their manipulation of the market.
quote:100% agree
99% of the coins are scams since they were literally invented to be rugpulls.
quote:100% agree
Bitcoin was not scam in the beginning, it had a good niche many years ago as a way to buy drugs
quote:Disagree
Now it's just a speculative asset with zero utility.
quote:Somewhat agree, but this is not my first cycle. Retail and institutions will return and we will have another wave followed by another crash. That will continue for years. Oh and as Boom touched on - even in regulated markets, retail is exit liquidity for the big hedge funds and professional players. The obvious examples there are Gamestop, AMC, BBB, etc.
Most people who invested in crypto are retail and are providing the exit liquidity for professional scammers. They are just getting taken advantaged of in completely unregulated markets.
We aren't as far off in mindset as I thought we were based upon your posts in crypto threads.
This post was edited on 11/29/22 at 8:41 pm
Posted on 11/29/22 at 8:43 pm to TigerTatorTots
quote:
TigerTatorTots
Compared to most crypto investors you at least know what you are getting into.
I am of the believe that contagion from ftx will cause tether to finally prove that's backed by nothing. Which will cause binance to head for the exit scam.
After that pain, maybe you are at bottom
This post was edited on 11/29/22 at 8:44 pm
Posted on 11/29/22 at 8:45 pm to boomtown143
quote:
yeah man, that never EVER happens in regulated markets like the stock market.
STUPID people everywhere.
So that makes it good?
Posted on 11/29/22 at 10:36 pm to UltimaParadox
quote:
Now it's just a speculative asset with zero utility.
Bitcoin and some of the other coins have potential utility, depending on adoption. Guessing which will be adopted and to what extent is a crapshoot, though.
The ability to move money without going through the usual channels will always have value. Having it in a form that isn’t as easily stolen as physical assets is even more valuable.
Crypto isn’t going away.
Posted on 11/30/22 at 2:11 am to down time
(no message)
This post was edited on 11/30/22 at 2:13 am
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