crypto currency discussion

**TPowell** · 01-16-18, 10:15 AM

Bought more at BTC at 12K just now

**TPowell** · 01-16-18, 10:15 AM

January is always a typically bad month for crypto anyway.

**JAKEPEAVY21** · 01-16-18, 10:19 AM

so much for Wall St bonus day lol...geezus

**shocka1212** · 01-16-18, 10:26 AM

Originally posted by k13

Yeah, from gains they made the last year.

No one here is depositing fresh $20k from their savings.

you're talking about 20k like its some insurmountable amount of money. its 2018, people spend that at clubs in nbc and Miami on a nightly basis.

**Crusherrr** · 01-16-18, 10:58 AM

Originally posted by shocka1212

you're talking about 20k like its some insurmountable amount of money. its 2018, people spend that at clubs in nbc and Miami on a nightly basis.

Lots of people I know and have talked to have all recently put $10k-$50k into crypto. Some got in two months ago and went to the moon quickly. Many got out just as quickly. Now were all sitting on the sidelines waiting to get back in.

I'm very tempted to get XRP and TRX again. I sold XRP at $2.98 and TRX at 20c.

I was about to instant buy $25k of BCH to get into XRP about 5 minutes ago and XRP already up 10c since that point. Itching to get back in but not sure if the bleeding has stopped.

**TPowell** · 01-16-18, 11:09 AM

Guys, look at the charts. Bitcoin always drops like crazy in January. Lunar New Year or whatever were these Asians are selling BTC to buy gifts and shit for family/friends.

**TPowell** · 01-16-18, 11:10 AM

Originally posted by shocka1212

you're talking about 20k like its some insurmountable amount of money. its 2018, people spend that at clubs in nbc and Miami on a nightly basis.

Nobody is spending $20K a night at clubs unless they are multi-millionaires and those people are more than likely going to either already be in crypto or sitting it out completely.

**A4K** · 01-16-18, 11:14 AM

Originally posted by TPowell

January is always a typically bad month for crypto anyway.

Why?

**Crusherrr** · 01-16-18, 11:17 AM

Originally posted by TPowell

Nobody is spending $20K a night at clubs unless they are multi-millionaires and those people are more than likely going to either already be in crypto or sitting it out completely.

You underestimate how much us millennials spend on stupid sh1t then.

**TPowell** · 01-16-18, 11:25 AM

Originally posted by Crusherrr

You underestimate how much us millennials spend on stupid sh1t then.

What in the penetrate do you guys do for a living? The median income across the country is less than $60K. Are you telling me that people are spending 1/3 of their PRE-TAX income on one night in the club?

**TPowell** · 01-16-18, 11:27 AM

Originally posted by A4K

Why?

My guess is a vast asian conspiracy to cash some of the BTC out from the previous year plus the BTC market works exactly opposite of the stock market. Consumers BUY with BTC during holiday seasons which means they are getting rid of BTC. On the other hand, the stock market rises.

**shadymcgrady** · 01-16-18, 11:28 AM

Powell brings up some interesting points, anyone have friends or family in China to verify this?

The new year or lunar year is supposed to be a big deal over there. It's like xmas and new year combined and everyone over there celebrates it

**flyingillini** · 01-16-18, 11:31 AM

Originally posted by shadymcgrady

Powell brings up some interesting points, anyone have friends or family in China to verify this?

The new year or lunar year is supposed to be a big deal over there. It's like xmas and new year combined and everyone over there celebrates it

I live 30 miles from the chinese border...

**shadymcgrady** · 01-16-18, 11:33 AM

Originally posted by flyingillini

I live 30 miles from the chinese border...

And? Can we get some kind of analysis?

**TPowell** · 01-16-18, 11:35 AM

here's a good illustration

https://twitter.com/EnvST/status/953292689843408896

**reigle9** · 01-16-18, 11:40 AM

Originally posted by Crusherrr

You underestimate how much us millennials spend on stupid sh1t then.

how does one have 20k to blow with a woman's studies or art degree?

**allabout the $$$** · 01-16-18, 11:42 AM

My oldest is 23 his friends will go blow that type of money with cc's and or loans. Kids dont think long term its all about the right now. Shit some of his friends are betting anywhere from 500 - 5k a game i dont even ask him where they get this money

**Crusherrr** · 01-16-18, 11:54 AM

Originally posted by TPowell

What in the penetrate do you guys do for a living? The median income across the country is less than $60K. Are you telling me that people are spending 1/3 of their PRE-TAX income on one night in the club?

I would never go to a club let alone spend $20k in one. Shocka's example was pretty poor but the fact of the matter is there are PLENTY of people dumping $20k+ into crypto every single day. It's not a crazy sum of money to be investing when many young people should be aggressive with their portfolio regardless of how or where they are investing.

**TPowell** · 01-16-18, 11:57 AM

Originally posted by Crusherrr

I would never go to a club let alone spend $20k in one. Shocka's example was pretty poor but the fact of the matter is there are PLENTY of people dumping $20k+ into crypto every single day. It's not a crazy sum of money to be investing when many young people should be aggressive with their portfolio regardless of how or where they are investing.

It is a little reckless when you consider they are probably leveraged to death on that money to start with. I think you are seeing more $1-5K investors now that are hoping to strike it rich but who knows. This is the same generation that can't get out of mom and dads house because they can't afford to right? (I'm a millennial as well, full disclosure)

**ans61201** · 01-16-18, 12:04 PM

Originally posted by k13

Yeah, from gains they made the last year.

No one here is depositing fresh $20k from their savings.

Lol

**TPowell** · 01-16-18, 12:05 PM

Anyways, point is this thing WILL rebound.

https://twitter.com/EnvST/status/953292689843408896

**bigtymer56** · 01-16-18, 12:07 PM

Originally posted by JAKEPEAVY21

so much for Wall St bonus day lol...geezus

Isn't today they just the day they start to announce the bonuses.

**bigtymer56** · 01-16-18, 12:09 PM

Originally posted by TPowell

Anyways, point is this thing WILL rebound.

https://twitter.com/EnvST/status/953292689843408896

Lmao dam those must be some fancy gifts.

**reigle9** · 01-16-18, 12:15 PM

Originally posted by bigtymer56

Isn't today they just the day they start to announce the bonuses.

buddy literally just told me diff banks are at diff times

said wall street is shorting the market before the bonusus come in

idk if he's up-to-date sharp, but he's been in btc since day 1

**ace7550** · 01-16-18, 12:17 PM

This could also be the people taking profits for tax purposes that was suggested earlier in this thread.

**DOM_Toretto** · 01-16-18, 12:23 PM

Originally posted by bigtymer56

Lmao dam those must be some fancy gifts.

$200 Billion in gifts...

**ans61201** · 01-16-18, 12:24 PM

I think it's simple, besides hacks, government regulation is the biggest threat to crypto. A lot of Asia rumors of what different countries will do is going on right now. People are looking too far into it when it's right in front of us. That's what's causing this.

**Crusherrr** · 01-16-18, 12:35 PM

At this point I think it's safe to say we will continue to see red for another few days minimum.

**ans61201** · 01-16-18, 12:46 PM

Sell walls have formed around 11,600, was hoping we would see it bounce between 11-12 today at least, not so sure now

**Arky** · 01-16-18, 12:48 PM

I've put in 10K since Christmas and am 60-something. Bad timing, eh? ;-)

Long term investing is measured in months and years - not days and weeks. This is not the time to "game" the market.

I'm on hodl on everything (what else am I gonna do?). I've only had a couple of coins remain strong during this latest market wide dip. They are:

KCS
EOS
ETH (of course)

What have been your best coins during this bearish time?

**ans61201** · 01-16-18, 12:48 PM

Hopefully Asia doesn’t take these things to the Stone Age when they wake up this morning

**Bucketwah** · 01-16-18, 12:51 PM

Originally posted by Crusherrr

At this point I think it's safe to say we will continue to see red for another few days minimum.

So are you going to sell now and buy again in a few days? Something to think about

**Crusherrr** · 01-16-18, 01:01 PM

Originally posted by Bucketwah

So are you going to sell now and buy again in a few days? Something to think about

I sold a week ago. So I'm itching to get back in.

**ChuckyTheGoat** · 01-16-18, 01:05 PM

What a disaster.

**Memento** · 01-16-18, 01:06 PM

Originally posted by Arky

I've put in 10K since Christmas and am 60-something. Bad timing, eh? ;-)

Long term investing is measured in months and years - not days and weeks. This is not the time to "game" the market.

I'm on hodl on everything (what else am I gonna do?). I've only had a couple of coins remain strong during this latest market wide dip. They are:

KCS
EOS
ETH (of course)

What have been your best coins during this bearish time?

Typical market cycles, so always be hodling is the name of the game....sell a little on the highs to stock the BTC war chest to buy boatloads on the selloffs. I love the sea of red....these are the days people can make a lot of money.

Just hope I can get some deep discounts on OMG, PPT, KCS, KMD, and BAT. I hope the market drops another 10-15% for some really good dump action on my buy orders.