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Bitcoin-Explain to me how to buy these things (4 Viewers)

SHIZNITTTT said:
Once upon a time in a village, a man appeared and announced to the villagers that he would buy monkeys for $10 each...

The villagers, seeing that there were many monkeys around, went out to the forest and started catching them.

The man bought thousands at $10 and as supply started to diminish, the villagers stopped their effort. He further announced that he would now buy at $20. This renewed the efforts of the villagers and they started catching monkeys again.

Soon the supply diminished even further and people started going back to their farms. The offer increased to $25 each and the supply of monkeys became so little that it was an effort to even see a monkey, let alone catch it!

The man now announced that he would buy monkeys at $50! However, since he had to go to the city on some business, his assistant would now buy on behalf of him.

In the absence of the man, the assistant told the villagers; "Look at all these monkeys in the big cage that the man has collected. I will sell them to you at $35 and when the man returns from the city, you can sell them to him for $50 each."

The villagers rounded up with all their savings and bought all the monkeys.

They never saw the man nor his assistant, only monkeys everywhere!

Now you have a better understanding of how the cryptocurrency market works.

sorry if repost
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I'm suspicious of what that man was going to do with all those monkeys. 

 
Completed my first crypto sale. Got out of ADA with a nice profit. Going to get back in if it keeps dropping or add some ETH. 

 
I agree with cuban and so many much smarter than him - $1 doge this year is inevitable. under 50 cent atm, pretty tempting. if you hate the idea of doge, and you're paying close attention, ask yourself this: of all the obvious* suspects, which one do you think has the best chance of doubling fastest. i think my answer is a race between ada and doge, with more confidence in doge.

*many less obvious alts will double but that's mostly throwing darts - for me. 

edit - ada is an infinitely better ecosystem than doge, doge more likely to be price pumped.

 
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KGB said:
Hopping into BTC @ $44,500
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This is the falling knife point where I’d expect the bleed to stop.  It’s got all the fib/chart support behind it.   If it breaks its back to low 30’s which would be bad but that will be obvious if/when it happens.

 
Chaos Commish said:
I agree with cuban and so many much smarter than him - $1 doge this year is inevitable. under 50 cent atm, pretty tempting. if you hate the idea of doge, and you're paying close attention, ask yourself this: of all the obvious* suspects, which one do you think has the best chance of doubling fastest. i think my answer is a race between ada and doge, with more confidence in doge.

*many less obvious alts will double but that's mostly throwing darts - for me. 

edit - ada is an infinitely better ecosystem than doge, doge more likely to be price pumped.
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DOGE has the big and perhaps most important element of influencers pushing it.  I agree that a quick pump to $1 seems inevitable although we may see some churning first.  I threw $500 into it at $0.27 as a trade/gamble.

It may have a better chance at a faster 2X than ADA, but ADA has a better chance of going 3-5X.  

 
I'm reading that a lot of Glass Node data suggests that the retail investor is being shaken out with FUD while institutions and miners are stacking sats. 

 
Captain Cranks said:
I'm reading that a lot of Glass Node data suggests that the retail investor is being shaken out with FUD while institutions and miners are stacking sats. 
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Can you explain this to me like I have a 3rd grade intelligence?  My wife always tells me that I think/act like a 3rd grader, so thats my barometer on the IQ portion of these types of discussions.

 
Captain Cranks said:
I'm reading that a lot of Glass Node data suggests that the retail investor is being shaken out with FUD while institutions and miners are stacking sats. 
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 I would not doubt that for a second - was going to ask about source - Glassnode  - cool stuff - thanks for the new news source!

@Peak  I think what he is saying is that the individual investor is selling as they are spooked. The institutions and banks and whales are buying it up while it is cheap at the long term expense of the little guy. 

 
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Peak said:
Can you explain this to me like I have a 3rd grade intelligence?  My wife always tells me that I think/act like a 3rd grader, so thats my barometer on the IQ portion of these types of discussions.
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Here's one of the articles

The article describes inflows/outflows on two of the most prominent exchanges:  Binance and Coinbase.  Binance is utilized by more retail investors, and they, on balance, transferred Bitcoin onto the exchange which they're assuming is for panic selling.  OTOH, Coinbase, which sees more institutional activity, is seeing net outflows, which they're concluding is purchases of bitcoin and then moved off of the exchange into private wallets.

 
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Peak said:
Can you explain this to me like I have a 3rd grade intelligence?  My wife always tells me that I think/act like a 3rd grader, so thats my barometer on the IQ portion of these types of discussions.
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I should add these definitions.

FUD - Fear, Uncertainty, Doubt

Stacking Sats - Accumulating Bitcoin.  Sats are satoshis, the lowest increment of Bitcoin, named after its inventor Satoshi Nakamoto.

 
Captain Cranks said:
I should add these definitions.

FUD - Fear, Uncertainty, Doubt

Stacking Sats - Accumulating Bitcoin.  Sats are satoshis, the lowest increment of Bitcoin, named after its inventor Satoshi Nakamoto.
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Without reading the article, I think the idea is whales are using Elon and the generated fud, to manipulate the market. Scare retail investors like us away so they can buy at lower prices. Yes?

 
Chaos Commish said:
Without reading the article, I think the idea is whales are using Elon and the generated fud, to manipulate the market. Scare retail investors like us away so they can buy at lower prices. Yes?
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I don't know if I'd describe it as manipulation, but the whales are gladly buying up what the weak retail hands are selling.

 
Can't stand Elon.  If he was really concerned about the environment, he would look at the environmental cost of producing all of those batteries that power his cars.

 
RC94 said:
Can't stand Elon.  If he was really concerned about the environment, he would look at the environmental cost of producing all of those batteries that power his cars.
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He isn't stupid.  There's something else at play here, whether it's just straight egomania or pressure from investors.  Regardless, I wish he'd STHU and go away.    

 
Captain Cranks said:
He isn't stupid.  There's something else at play here, whether it's just straight egomania or pressure from investors.  Regardless, I wish he'd STHU and go away.    
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I never said or thought he was stupid.  I just hate hypocrites like him and I agree - he should just STHU and go away.

 
RC94 said:
I never said or thought he was stupid.  I just hate hypocrites like him and I agree - he should just STHU and go away.
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Yeah, but it's obvious to me this isn't actually about his concern for the environment.  If it was, that would imply stupidity and ignorance for getting involved in BTC in the first place. 

The more reasonable explanation is he's changed tunes because he's an attention whore or is facing uneducated investor pressure; likely a combination of the two.   

 
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Captain Cranks said:
Yeah, but it's obvious to me that this isn't actually about his concern for the environment.  If it was, that would imply stupidity and ignorance for getting involved in BTC in the first place. 

The more reasonable explanation is he's changed tunes because he's an attention whore or is facing uneducated investor pressure; likely a combination of the two.   
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I can buy that.

 
Thanks to all in here who helped with advice on getting my funds out of Bittrex.  Had a nice stash still waiting for me that I successfully got to my Exodus wallet. 

As someone who's now safely holding a large amount of ADA and hasn't payed attention for years what's the conservative estimate by years end?  $4?

 
harryhood said:
Thanks to all in here who helped with advice on getting my funds out of Bittrex.  Had a nice stash still waiting for me that I successfully got to my Exodus wallet. 

As someone who's now safely holding a large amount of ADA and hasn't payed attention for years what's the conservative estimate by years end?  $4?
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First and foremost, don't advertise that you have large holdings in a software wallet.  

To your ADA question, if the smart contract rollout is successful, we could very well see $10 by year end.  

 
Captain Cranks said:
Yeah, but it's obvious to me this isn't actually about his concern for the environment.  If it was, that would imply stupidity and ignorance for getting involved in BTC in the first place. 

The more reasonable explanation is he's changed tunes because he's an attention whore or is facing uneducated investor pressure; likely a combination of the two.   
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The much more obvious reason is that he doesn't care personally but faced Tesla as a company faced pressure in the face of their sustainability claims.  I doubt there was anything nefarious about it.  If Musk wanted to make a fortune while ticking everyone else off he would just sell a bunch of TSLA shares.

Bad sustainability optics for a sustainability company.  I doubt they foresaw people caring as much about the sustainability issues of BTC when they bought it.

 
FreeBaGeL said:
The much more obvious reason is that he doesn't care personally but faced Tesla as a company faced pressure in the face of their sustainability claims.  I doubt there was anything nefarious about it.  If Musk wanted to make a fortune while ticking everyone else off he would just sell a bunch of TSLA shares.

Bad sustainability optics for a sustainability company.  I doubt they foresaw people caring as much about the sustainability issues of BTC when they bought it.
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That's what I meant by uneducated investor pressure.  "Bitcoin is bad for the environment" is a false narrative that he is now perpetuating.

 
Captain Cranks said:
Yeah.  A few of these secondary L1 coins are running.  SOL and ONE having good days too.  
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I've had both those on my list, but none of my kucoin coins have hit their targets so I'm just sitting tight for now.  Both those looked poised to jump, but I'm afraid I'm missing the boat.  

Keeping my eye on KLV.   Looks like a good one to jump on.  I'm patiently waiting on some action from VRA, CHZ and SYLO.  

 
jb1020 said:
I've had both those on my list, but none of my kucoin coins have hit their targets so I'm just sitting tight for now.  Both those looked poised to jump, but I'm afraid I'm missing the boat.  

Keeping my eye on KLV.   Looks like a good one to jump on.  I'm patiently waiting on some action from VRA, CHZ and SYLO.  
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I've got those in my bag too.  The microcaps have been a bust lately.  I'm hoping we see some money filter down to them soon.  

 
beer 30 said:
This is one of the drawbacks of being solely on Coinbase, they don't always deal in some of the whiz bang stuff you guys on the cutting edge recommend.
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Finding a trusted wallet that has the asset you covet takes two minutes. Some of them allow you to make transactions within the wallet and even with others using the same wallet with no fees. I avoid the big exchanges.

 
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