My calculations show that the correction from 58 400 to 43 000 is 26.3%. This doesn't even qualify for a significant 30%+ correction!
I can't speak for any of the hodlers outside the U.S., but this exactly is why we U.S.-based hodlers continue to just hodl. Here we have to pay 20% long term cap gains tax on btc we sell over a certain amount. So in order to gain any real benefit from trying to sell a top only to buy back lower, the price would have to move at least -30% or more to even see a +10% buyback gain in your btc amount. You'd have to call the top perfectly. And, you would have to time your sell at the very top (impossible) along with your buyback at the very bottom (again, impossible) perfectly. Good luck with that. Chances are, you are going to lose all your gains to the IRS trying to play that game. Easier to just buy and hodl for years and years, and only sell what amount you need, when you need it.
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https://twitter.com/nntaleb/status/1365992969413746690Fuck, fuck, fuck, fuck, fuck, this guy. Seriously. He's literally trying to now equate participants in Bitcoin with Communism or Socialism. If I had a twitter account, I would seriously rip him a new one. Why people even give a shit what he says or thinks is beyond me.
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I liked the almost 60k feeling, I felt rich, now not so much.
Edit: I even started buying soft 4 ply toilet paper, back to the cheap generic recycled stuff again.
I switched to faster internet plan in Dec 2017 because I felt rich, haha. I stopped grumbling about my bi-monthly grocery bill because I felt rich. Now I'm back to grumbling again.
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Check out that Monthly chart, there's nothing quite like it so far.
Very different to what came before....very different!
And what’s your conclusion It's different to previous run ups. So, so different. Isn't it? Extremely different!
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My birthday today, I'm now 60, got celebrated by the family earlier. I didn't really care that much when I turned 50, but 60 does make me feel a bit old. O well,nothing I can do about it, back to the internet and my model rocket rabbithole.
Congratulations! You know that saying about old fools, right? "You don't get to be old by being a fool."
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So who here actually believes the $1.9T "stimulus package" will be printed at the 2.19% 30T interest rate? Bueller?
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So much for Lambos. Carvana totally fucked up my car purchase and it was only a used VW. Bonus in Bitcoin tripling between when I withdrew the funds for purchase and when it almost happened.
I'm a VW fan. Which model? It was a TDI Sportwagen. Still is, I guess . They delayed delivery three times so I cancelled. Then I saw they'd actually got it fairly close so I called to give them another chance but apparently they're not competent enough to swing that so it's showing as purchased by someone else now. Ah well, there are other cars. Cashing out for nothing stings though. I'm hoping someone local bought it so at least they'd be screwed out of the delivery charge for getting it from Nevada. Cool...I'm a GTI/GLI fan. Currently have GLI. Love it.
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So much for Lambos. Carvana totally fucked up my car purchase and it was only a used VW. Bonus in Bitcoin tripling between when I withdrew the funds for purchase and when it almost happened.
I'm a VW fan. Which model?
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OT: It's laughable that people put any faith or trust in what the MSM has to say about the economy or markets. Saw this on CNBC.com, two article headlines, same page, literally side-by-side:
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Forgot to mention, met these two dudes at a club last night. Pretty cool guys. Said they were brothers visiting from out of town. Daaammn...Milli Vanilli have not aged well.
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Wth is 'illiquid supply' and why is it tracked separately from 'liquid supply'?
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Welp, if anyone is still questioning if some exchanges out there are running fractional reserve bitcoin, or even phantom bitcoin, here's the proof: Crypto Exchange Asks Customers To Return Bitcoin After Selling It At 88% Discounthttps://finance.yahoo.com/news/crypto-exchange-asks-customers-return-063545374.html“It’s very understandable that a lot of users will feel upset they were able to buy what they thought an order was there for Bitcoin at very low prices. But unfortunately, the underlying Bitcoins were never in the possession of the exchange, so there’s never really anything there to be bought or sold, unfortunately.”, said PDAX CEO Nichel Gaba in a press conference earlier today.
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Calling him dangerously insane because he argues for synthetic beef isn't a great starter. Producing beef is incredibly wasteful, not to mention you have to butcher an animal. I guess one could argue that it's dangerous because it's unnatural - but then look around you, your entire world is unnatural. Microplastics in your tap water, VOCs from your home's building materials, what's a little a synthetic meat in the mix? And then the next thing you know...
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Are you seriously coming back to this thread after all this time to start this shit again. Fork off!
Checks for admin or mod flair. Observes none. Disregards gatekeeping attempt. Some people get really uncomfortable hearing views which don't agree with their own. It's the curse of this age. I got a better idea, Richy. Why don't you leave the block size issue up to the Bitcoin core developers to decide what/when/how to do about it? Ok? Instead of coming back here just to kick an old hornet's nest with the WO peeps? It's not like *we* have any control over it anyway. There's no point in even debating it here.
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https://www.cnbc.com/2021/02/23/bitcoin-btc-price-falls-below-50000-as-janet-yellen-raises-alarm.html"“It’s a virtual forest fire,” said Glen Goodman, a U.K.-based trade. “The wood was bone-dry and waiting for a spark. Elon Musk was that spark.”
“Crypto futures traders were borrowing so much money to buy Bitcoin contracts, they caused borrowing rates to skyrocket,” Goodman added. “By Saturday 20th Feb, they were paying 144% per annum. Clearly that situation couldn’t continue. In those conditions, prices have to fall to shake out the over-optimistic borrowers and return borrowing rates to normal levels.”
Bitcoin has been getting traction from mainstream investors, in part because of the perception that it’s a store of value similar to gold. Bullish investors claim the cryptocurrency can act as a hedge against rising inflation.
But skeptics warn that bitcoin has no intrinsic value and is one of the biggest market bubbles in history. Analysts at JPMorgan last week said bitcoin was an “economic side show” and that crypto assets rank as the “poorest hedge” against significant declines in stocks."
Laughable how they always end every Bitcoin article with the negative thought.
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Bill Gates On Investing In Bitcoin: 'If You Have Less Money Than Elon, You Should Probably Watch Out'https://finance.yahoo.com/news/bill-gates-investing-bitcoin-less-095518862.htmlYou hear that Average Joe? The wealthy elites have billions of $$$ to throw around on speculative scams like bitcoin. But you're poor, so you better not do it too. Stay the fk away from Bitcoin, or else lose all your (poor man's) money! /s
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R.I.P. The video left me speechless. Weird...I had just read the other day that they had been tapped to do the soundtrack for the upcoming 'Tron: Ares' movie.
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Sorry, but some of you guys here talking about "institutional investors are selling" are still at the Mt. Stupid level of understanding.
Any large institutional investor that takes up a big long position in bitcoin:
1. Is not going to sell mere days, weeks, or months after doing so. They are in it for the long haul.... years.
2. Went through months of internal dialogue, planning, board decisions, and a fucking *mountain* of legal & regulatory hurdles, sessions, paperwork, fees & other costs, etc. just to take up said btc position. You really think after all of that, they're just going to turn around a few weeks or months later and YOLO dump everything on the open market? Really?
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