The Great Crypto Crash

[pug-thug]

if you bought gold during the "great recession" you would still be at a loss today



generally your portfolio should be no more than 10% PMs

[Chaos Reigns]

(10-12-2018 07:28 AM)pug-thug Wrote:  if you bought gold during the "great recession" you would still be at a loss today



generally your portfolio should be no more than 10% PMs

Depends on your currency. If you are in US/USD, yes.


South African Rand


Brazilian Real

And I get the nasty feeling we are just getting started with this current mess. No major bankruptcies yet, corporate or national in scope. I am really ambivalent about the whole thing. 10 years ago they didn't solve any of the problems, didn't send ANYONE to jail (i.e. no deterrent to future crime provided) just kicked the can down the road. So if this really gets going no reason it can't be as bad or worse than 10 years ago.

[Chaos Reigns]

So now even Apple is down 20% from ATH (alltime highs) and cryptos... They are a crashing!

$6000 USD Bitcoin was the baseline for the last year, so to see it plunge below that, well, either the cryptokiddies will come out in full force or it is going down to $2000.

$5600 right now, after a $700 plunge, let alone the plunge from $9800 as recently as May!

Hold on to your butts.

One of the major factors in the stock market, beyond the Federal Reserve, has been corporate buybacks. If corps stop that, because they want to actually invest in plant and equipment, or save cash for the possible recession, or pay off debt...

[pug-thug]

^ where is my credit SHAH?

where is SHAH?

remember how arrogant he was with his BASELESS PREDICTIONS?

[Redneck]

(11-15-2018 04:39 AM)pug-thug Wrote:  ^ where is my credit SHAH?

where is SHAH?

remember how arrogant he was with his BASELESS PREDICTIONS?

He would say that this is the time to buy so we can all become multi millionaires.

[pug-thug]

LOL HAHA

it might go up over time, but he was specifically saying it would triple by the end of Summer 2018

didn't happen.

[Redneck]

No way it's going to be 20k this December.

I have to admit, I was thinking of topping up when BTC was at 5.8k and ETH at around $180. I let it go a few hours and now it's even lower.

It looks like it's in freefall at the moment. I think I'll sit back and wait to see if it keeps going South. Will buy in when I think it's hit it's bottom, but only a few hundred dollars for shits and giggles.

Apparently 109,000 BTC was moved from an account on Binance, and the market is freaking out.

[Billygoat]

That's always been the problem with wealth on paper. It's never actually worth anything except what the guy buying from you right now is paying.

I think I'm sticking with real estate.

[Chaos Reigns]

When I saw Bitcoin pumped to the 'alt right' community, around this time last year, I was trying to warn people like crazy. Of course it doubled in the next month, so no one listened and they called me a party pooper, or behind the times, or any number of names.

So I would ask them what they knew about Bitcoin and it would go something like "I know it was $2000 in the summer, and is over $10,000 now!"

All anyone knew was the price action. Classic tulip bubble. But God help you if you told people that! What did they call us? No-coiners, or something?

The best was when they were telling people "HODL!" I knew these people are going to get absolutely fleeced by Wall St veterans.

[pug-thug]

^ LOL

[General Franco]

(11-16-2018 05:58 AM)pug-thug Wrote:  ^ LOL

Is it any surprise these dummies think virtual money is real money when their whole reality is a life by proxy bid social media.

[pug-thug]

^ good post general

They are really pushing for the virtual reality way of life

fake news, fake money, fake relationships

[kungfool]

I lost $500 on ETH.
I'll be sticking to Real Estate in the future too...

[pug-thug]

where's my credit folks?

i was the lone no-coiner on that PAGE

[jho]

Principal fired after running up school’s electric bills with secret cryptocurrency mining operation

Quote:A middle school principal in Hunan province has been fired after running up his school’s electricity bills by secretly setting up a cryptocurrency mining operation in the electronics lab.

Last year, Lei Hua, the head of a middle school in the city of Chenzhou, spent more than 10,000 yuan ($1,400) on cryptocurrency mining equipment, only to discover that he couldn’t afford to pay the utility fees that came with running them, according to a report from China’s Xinhua news agency.

Undeterred, Lei decided to covertly move his operation to his school’s electronics lab, buying and setting up an additional seven machines there, connecting them to the school’s internet and power supply, and keeping them running 24/7 mining Ethereum.