BITCOIN as an alternative to regular currency

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megarain
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Yeah - it maybe Tesla buying that was a serious strategic mistake.

I am also not sure why the SEC isnt involved - Musk can easily be accused of market manipulation - hard to know when he
can legitimately buy/sell without being accused of something.

Hard to keep up, but a poker player I respect has dumped all his ETH and moved it to BTC - thou acknowledging the bull run is likely over.

I have a v small exposure to some alt coins.
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megarain
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Charlie Munger must be happy.

Market forces are quite something to behold when everyone is racing for the exit.
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Euler
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megarain wrote:
Wed May 19, 2021 2:09 pm
Charlie Munger must be happy.

Market forces are quite something to behold when everyone is racing for the exit.
Y, this is always the problem with the greater fool theory. Everybody panics to sell when it's clear it's hit the top.
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Naffman
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I hope Musk has made his money manipulating the market as Tesla is about to bomb with it
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Tuco
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Euler wrote:
Wed May 19, 2021 2:29 pm
Y, this is always the problem with the greater fool theory. Everybody panics to sell when it's clear it's hit the top.
...'correct-a-mundo' https://www.youtube.com/watch?v=QcqmYwEGfaQ

...it's a deflation race back to ZERO as that's what all cryptocurrencies are worth: no more than the next fart captured in your closed fist! (which you can at least throw at someone and enjoy their reaction, so it's intrinsic value is just above ZERO :lol: )

[Back in the '80's during a previous life of mine, in the USA they used to sell a can of 'Farmyard Spray'...and much fun was had with that :lol: ]
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jamesedwards
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Tuco wrote:
Wed May 19, 2021 4:01 pm
Euler wrote:
Wed May 19, 2021 2:29 pm
Y, this is always the problem with the greater fool theory. Everybody panics to sell when it's clear it's hit the top.
...'correct-a-mundo' https://www.youtube.com/watch?v=QcqmYwEGfaQ

...it's a deflation race back to ZERO as that's what all cryptocurrencies are worth: no more than the next fart captured in your closed fist! (which you can at least throw at someone and enjoy their reaction, so it's intrinsic value is just above ZERO :lol: )

[Back in the '80's during a previous life of mine, in the USA they used to sell a can of 'Farmyard Spray'...and much fun was had with that :lol: ]
...and yet casino.com insists on interrogating my bank statements before they will let me deposit £100 :roll:
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Tuco
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Bitcoin falls further as China cracks down on crypto-currencies
https://www.bbc.co.uk/news/business-57169726
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alexmr2
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It's a shame some people are stupid enough to put more than they can afford to lose into a high risk gamble expecting to become rich within a few weeks. It just shows how little money management knowledge the average person has. The only reasonable approach to these markets IMO is to put in around 1% of capital and forget about it for a few years, if that money can't be better used elsewhere.

Blaming Elon Musk for making the price go down reminds me of blaming the horse racing commentators for ruining my trade :lol:
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Tuco
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...as always "stupid is as stupid does" so a wise man once said :lol:
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superfrank
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Tuco wrote:
Thu May 20, 2021 11:22 am
...as always "stupid is as stupid does" so a wise man once said :lol:
Early adopters of crypto were the really smart ones.
People not wedded to the status quo and traditional thinking.
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Tuco
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superfrank wrote:
Thu May 20, 2021 1:53 pm
Tuco wrote:
Thu May 20, 2021 11:22 am
...as always "stupid is as stupid does" so a wise man once said :lol:
Early adopters of crypto were the really smart ones.
People not wedded to the status quo and traditional thinking.
...sure - as is always the case with ponzi schemes, it's being most aware of when will the music stop 8-)
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johnsheppard
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Tuco wrote:
Thu May 20, 2021 2:07 pm
superfrank wrote:
Thu May 20, 2021 1:53 pm
Early adopters of crypto were the really smart ones.
...sure - as is always the case with ponzi schemes, it's being most aware of when will the music stop 8-)
I don't know if you'd want to go correlating early adoption with smart. You could just as well correlate ignorance.

Pretty sure there's lots of people who have won the lottery and can't do the math on what a poor investment that ticket was...
danwall1
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Bitcoin i feel is an unregulated currency. Who actually says its worth what it actually is? only the people who started it. I feel (and many will disagree) its like the modern day pyramid schemes.
please find below a funny video link of how I think Bitcoin and all crypto currency are really worth. Before you slate me have a look at the video and have a really good think about.

https://youtu.be/ZiJa9diJOMk
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Euler
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This was probably the only tech bubble I never had an early interest in. But having lived through so many, this has been quite spectacular. But it seems each generation has this sort of moment when they pile into something simply on the basis that people are piling into it.
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alexmr2
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Tuco wrote:
Thu May 20, 2021 11:22 am
...as always "stupid is as stupid does" so a wise man once said :lol:
Just thinking of one advantage, if you found bitcoin in the grave next to Arch Stanton's instead of gold then it would have been easier to carry through the desert :)
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