Crypto carnage—Bitcoin, Ethereum, Dogecoin all bomb lower?

Discussion in 'Bullion Investing' started by fretboard, May 19, 2021.

  1. fretboard

    fretboard Defender of Old Coinage!

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  3. Insider

    Insider Talent on loan from...

    My guess is that Bitcoin will be "churned" the same way gold is.
     
  4. losthomer

    losthomer Active Member

    Crypto ain't going away. It's going to be more and more prevalent moving forward.
     
  5. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    its anybody's guess how low it will go but $20,000 ? the only reason the price is coming down is because of fear, these are the short term investors who are selling
    since I am long term this has no affect as a matter of fact I am buying more then
    ever people are wasting time on a great opportunity to invest.
     
    Bayern likes this.
  6. Garlicus

    Garlicus Debt is dumb, cash is king. Supporter

    Especially since the Central Banks are looking to develop their own. Currently, MIT is working with the Boston Reserve Bank to develop one for the US.
    Also, Facebook’s Diem (formerly Libra, I believe) foray recently came back to the US from Switzerland, so they may be working with the US govt, as well, but who knows.
    ICP tokens seem to be going after cloud services, like AWS, as a decentralized hosting service that can’t take down (de-platform) a company they don’t like, such as what happened with a certain Twitter competitor, recently.
     
    losthomer, midas1 and mpcusa like this.
  7. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Getting its butt kicked might be the best thing for BTC, maybe people will wake up and smell the coffee !
     
  8. rte

    rte Well-Known Member

    Wasn't bitcoin designed to be a way to purchase retail goods without the tax?
     
  9. fretboard

    fretboard Defender of Old Coinage!

    I agree, seems to me that not too many are worried about it and that's okay. As the price goes down, it makes the prospect of people jumping in on the ground floor that much more likely. Not sure what the ground floor price will be but it's certainly interesting to follow!
     
  10. JPD3

    JPD3 Well-Known Member

    I think you might be right. Tesla has invested at least $1.5 billion in Bitcoin (even Warren Buffett would say that's not an small stake you just dump on a slump). The selloff is linked to fears of a crackdown from regulators in China and that is to be expected. The People's Republic and their government controlled financial institutions want to collect some yuan anyway they can, just like any other gov. But how you gonna pocket what you can't hold?
    Besides, Musk just said they would no longer be accepting cryptocurrency as payment. He didn't say he was not against investing in it, Telsa is going to keep it's shares. Short timers can bail out now. Savvy souls need to Diamond Hand, JMHO.
     
  11. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Thats the rub , when do you jump in ?
     
  12. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"


    Its funny that Tesla still has millions of dollars in bit coining just cashed out 101 million dollars, why torpedo your own boat...LOL
     
  13. GoldFinger1969

    GoldFinger1969 Well-Known Member

    If the governments ban trading of BitCoin and other cryptocurrencies, these digital balonies are going alot lower.

    I see support for BitCoin at about $1,000.
     
  14. Insider

    Insider Talent on loan from...

    fretboard, posted: "I agree, seems to me that not too many are worried about it and that's okay. As the price goes down, it makes the prospect of people jumping in on the ground floor that much more likely. Not sure what the ground floor price will be but it's certainly interesting to follow!"

    Friend, AFAIK, the "ground floor" was much less than $100. Don't hold your breath about ever seeing it again.
     
  15. Eric the Red

    Eric the Red Supporter! Supporter

    This whole crypto dump started last week when Elon / Tesla stopped taking Bitcoin as payment. They believe it isn't Green and leaves a carbon footprint
    Tree Huggers ruin everything:)
     
  16. GoldFinger1969

    GoldFinger1969 Well-Known Member

  17. Eric the Red

    Eric the Red Supporter! Supporter

    I guess printing presses,ink,paper and the electric to run them 24 hrs per day printing fiat currwncy aeound the clock is greener? Huh you learn something every day.
     
  18. Eric the Red

    Eric the Red Supporter! Supporter

    GoldFinger1969 likes this.
  19. GoldFinger1969

    GoldFinger1969 Well-Known Member

    They sucked tens of billions away from gold, maybe hundreds of billions.

    Without crypto, that money goes into gold....U.S. Treasuries......safe assets...etc.

    My friends on the Street tell me gold would be $2,200...maybe $2,500....without BitCoin etc. :wideyed:
     
    Eric the Red likes this.
  20. Eric the Red

    Eric the Red Supporter! Supporter

    All the while countries, governments, banks, top %'s
    where buying on the cheap:)
     
  21. Eric the Red

    Eric the Red Supporter! Supporter

    Precious metals that is.
     
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