Bitcoin Plummets Below 40K

Since the report does not really specify what exactly the reserves are we can expect NYAG to not be happy with it, and taking further steps against Tether.

Re: Bitcoin Plummets Below 40K

#5

Post by rvz » Wed, May 19, 2021, 9:30 AM UTC

'I hope you didn't buy BTC at >$60K.' [0]

Do not invest at the all time highs. [1]

[0] https://news.ycombinator.com/item?id=26843806

[1] https://news.ycombinator.com/item?id=26937153

Re: Bitcoin Plummets Below 40K

#6

Post by bruce343434 » Wed, May 19, 2021, 9:30 AM UTC

londons_explore wrote: post #2

If it gets down to 1k again like a few years ago, I'll buy!

Sorry, but why? Because you think it will go up even thought the fundamentals of the product suck? Are you building castles in the air? Not to be rude, but bitcoin is slow and inefficient. It also has terrible privacy. It's getting replaced by other coins.

Re: Bitcoin Plummets Below 40K

#7

Post by normaler » Wed, May 19, 2021, 9:36 AM UTC

When bitcoin drags monero under 100$ again, I buy some more of that.

Just because I actually like it as a currency.

Re: Bitcoin Plummets Below 40K

#8

Post by varispeed » Wed, May 19, 2021, 9:36 AM UTC

bruce343434 wrote: post #6

londons_explore wrote: post #2

If it gets down to 1k again like a few years ago, I'll buy!

Sorry, but why? Because you think it will go up even thought the fundamentals of the product suck? Are you building castles in the air? Not to be rude, but bitcoin is slow and inefficient. It also has terrible privacy. It's getting replaced by other coins.

For the pleasure of embedding poems in the blockchain, that will stay forever, alone...

Re: Bitcoin Plummets Below 40K

#9

Post by domano » Wed, May 19, 2021, 9:38 AM UTC

rvz wrote: post #5

'I hope you didn't buy BTC at >$60K.' [0] Do not invest at the all time highs. [1] [0] https://news.ycombinator.com/item?id=26843806 [1] https://news.ycombinator.com/item?id=26937153

At least for stocks i don't think this is valid.

The great index funds have more all-time-highs then not, for bitcoin this has also partly been true i guess.

Still i am wary of crypto investments, easy to get burned.

Re: Bitcoin Plummets Below 40K

#10

Post by stkdump » Wed, May 19, 2021, 9:39 AM UTC

londons_explore wrote: post #2

If it gets down to 1k again like a few years ago, I'll buy!

I would, too. But I would be surprised if it ever gets as low as 5k again, unless the crypto gets obsolete.