Got a loan recently with 20% APR and dumped it all in bitcoin when it was at $19k. Super depressed and haven't slept for two days.
Is this a joke? You can't be serious
Bitcoin, Bitcoin cash, ethereum and litecoin crash on Friday December 22
11–20 of 57 posts
Re: Bitcoin, Bitcoin cash, ethereum and litecoin crash on Friday December 22
#12All coins are dropping not just those 4. This is just history repeating itself. I'm sure it will upset people who are currently losing a lot of money right now, but you'd have to be blind to not see this coming. Investing any significant amount in the last week has been highly foolish.
Just mentioned yesterday how all the barbers at the shop I go to were really into bitcoin, which made me think the top was hit. Good thing I got out of there before I was scalped by accident.
Re: Bitcoin, Bitcoin cash, ethereum and litecoin crash on Friday December 22
#13Got a loan recently with 20% APR and dumped it all in bitcoin when it was at $19k. Super depressed and haven't slept for two days.
20%?! Thats worse then most credit cards!
Re: Bitcoin, Bitcoin cash, ethereum and litecoin crash on Friday December 22
#14Got a loan recently with 20% APR and dumped it all in bitcoin when it was at $19k. Super depressed and haven't slept for two days.
This chart may help encourage you, if you can handle the squeeze.
Re: Bitcoin, Bitcoin cash, ethereum and litecoin crash on Friday December 22
#15Got a loan recently with 20% APR and dumped it all in bitcoin when it was at $19k. Super depressed and haven't slept for two days.
I hope this is a joke or sarcasm. But if not, you should definitely not invest money that's not your's, no matter what you think you will miss out on. As you know that's part of the investing 101.
But on the brighter side, there are far too many people involved for this to go full bust, the tech is solid, there's more and more exchanges launching associated products(bitcoin futures), Goldman is launching a full trading desk.
It's a thing now, just don't sell it yet and HODL. I hope you at least get your money back.
Re: Bitcoin, Bitcoin cash, ethereum and litecoin crash on Friday December 22
#16So, it looks like Bitcoin's price hasn't dropped as far (percentage-wise) than the others - any ideas on why that is?
Re: Bitcoin, Bitcoin cash, ethereum and litecoin crash on Friday December 22
#17What goes up must come down. Cryptocurrencies have no real economic value other than whatever people think they should be worth (which is interesting by itself). Once people stop believing the emperors not just naked then everyone will see him that way.
Bitcoin has immense economics value. There's no other asset on the planet that allows me to put my faith in logic and mathematics instead of a person or institution.
Meanwhile, there's a lot of people putting their faith in opaque corporations and unelected central bankers. With the markets sitting at all time highs by every historical measure and debt loads higher than ever it'll be interested to see how that works out for them.
Re: Bitcoin, Bitcoin cash, ethereum and litecoin crash on Friday December 22
#18All coins are dropping not just those 4. This is just history repeating itself. I'm sure it will upset people who are currently losing a lot of money right now, but you'd have to be blind to not see this coming. Investing any significant amount in the last week has been highly foolish.
This is the history of Bitcoin. Booms and busts with no taxpayer funded bailouts. A decentralized and trustless currency is, in my opinion, the safest asset to have in the long term. The world's broken financial system is built on fraud and corruption. It won't end well for fiat bag holders.
Re: Bitcoin, Bitcoin cash, ethereum and litecoin crash on Friday December 22
#19All coins are dropping not just those 4. This is just history repeating itself. I'm sure it will upset people who are currently losing a lot of money right now, but you'd have to be blind to not see this coming. Investing any significant amount in the last week has been highly foolish.
Just mentioned yesterday how all the barbers at the shop I go to were really into bitcoin, which made me think the top was hit. Good thing I got out of there before I was scalped by accident.
Such cliche reasoning. If Bitcoin is going to be a successful currency and/or store of value, everyone and the brother needs to be talking about it (just like they talk about gold or the USD). I bet these same barbers have discussed the S&P500 and index funds, is it time to get out of those too?
Re: Bitcoin, Bitcoin cash, ethereum and litecoin crash on Friday December 22
#20So, it looks like Bitcoin's price hasn't dropped as far (percentage-wise) than the others - any ideas on why that is?
Bitcoin is the least risky of all the cryptocurrencies. It has the largest user base. It has the most widespread infrastructure. It has financial products and derivatives. Every other coin is unproven, many are mostly unheard of, and are the highest risk.