It's Penny Stocks 2.0 all over again.
That's where the old wall street guard has been trying to take it for awhile now. Pump & dumps and the 'naked short' and 'stick it to the man' revolutionary narratives organized by fraudsters that ran rampant in penny stocks just repackaged for a new set of rubes that think they are geniuses when they are just in a bull market. All I can say is I'm glad I found this board awhile ago.
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Well, that was short lived. Back to HODLsleep as the cool kids here say.
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People make up their minds based on nothing much, maybe simple feelings, and then marshal arguments to buttress those feelings. True, part of being human I guess. But then to take the next step and promote that nothing burger via publishing an essay to financial media seems a lot of work put into cognitive dissonance.
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The next sentence was "So I'm going to stop here until I can increase my understanding enough that I'm qualified to write on the topic", right? Haha! Said no one on the internet ever, lol. It's interesting to me, once you get outside our btc bubble how completely uneducated on this topic the vast majority of people are about it. It's like Dunning-Kruger Mt. Stupid level understanding combined with complete apathy/uninterest about the topic they claim to know all about.
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I remember back in April thinking, man I wish I could just go to sleep until June. LOL. What a crazy market. All the newbs talking about naked shorts feels like a repeat of the 2000's when so many got so burned believing that if they just banded together they could stick it to the man. Turns out not everyone wants to band together if it means giving up on making a profit on the back of everyone else in the group, cascading profit takers.
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I wonder if anyone is still leveraged long at the moment? Getting back to the lows might trigger some more margin calls.
Order book is very lopsided again but that probably doesn't mean much.
Probably some traders that just bought the dip this last few days. Doubtful anyone that leverage bought in the 50's wasn't margin called.
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Buy the dip set up your desendng ladder of buys.
I am good down to 27k.
cheap corn for all.
Got the dip. Also the top. And everywhere in between. DCA.
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Oh hai guys, 15 pages over the last day, wow, did something happen in the market?
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This has been picked up onto main stream news. This is the entire "article". Feel free to comment bomb, lol. https://www.sandiegouniontribune.com/opinion/letters-to-the-editor/story/2021-05-16/opinion-cryptocurrency-abuse-must-come-to-an-endRe “Cyberattack on Scripps Health has scary, broad implications” (May 7): Hospitals, pipeline operators, oil companies, even city governments have all been hit by ransomware attacks. These attacks are happening more and more frequently and they all have one thing in common: cryptocurrency.
The perpetrators of these attacks demand payment in Bitcoin or some other cryptocurrency, because these payments are untraceable and unstoppable.
It’s long past time to put an end to these non-governmental currencies. Cryptocurrencies appear to have been created specifically to facilitate illegal activities. They serve no legitimate purpose. Their primary uses are ransomware, extortion and funding terrorists, the drug trade and child pornography.
The only way to end ransomware is to end cryptocurrencies.
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Nowadays stop-loss is mandatory, no indicator is working perfectly...
Seems it's more a way for whales to separate coins from their owners. As has happened repeatedly in the recent past. Are there people on WO that don't know this? Hard to believe. Yeah this is the time to buy btc not sell it. I have buys set for 51k 50k 49k 48k 47k I just have small weekly DCA as always, no staggered buys setup. Slowly growing as I can.
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I saw a sad news story the other day. I am paraphrasing, it's easy to find. Some relatively young guy (30's) was celebrating loudly because he became a millionaire (on paper) with Doge. He had invested his life's savings (hundred-something K USD).
He said 'I grew up poor, I'm not selling any of it. I'll wait until it's 10 million, then I'll withdraw a million dollars.' Poor guy.
It's this guy... https://twitter.com/ProTheDoge/status/1389559038896054273
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Nowadays stop-loss is mandatory, no indicator is working perfectly...
Seems it's more a way for whales to separate coins from their owners. As has happened repeatedly in the recent past. Are there people on WO that don't know this? Hard to believe.
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Presented without comment. https://www.theblockcrypto.com/linked/103703/ny-bill-ban-crypto-mining-environmental-impact-assessmentThe bill would institute a three-year moratorium on a crypto firm's mining operation. The state would then conduct a full environmental impact statement on the impact of the center's greenhouse gas emissions from mining, as well as its effects on water quality, air quality and wildlife. The report would be accompanied by a 120-day public comment period and at least one public hearing.
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