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Stock Market and Bitcoin this AM #7267626
05/19/21 09:19 AM
05/19/21 09:19 AM
Joined: Aug 2010
Posts: 8,834
Asheville, NC
C
charles Offline OP
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charles  Offline OP
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Joined: Aug 2010
Posts: 8,834
Asheville, NC
Stocks are down in this morning's selloff. Bitcoin is down 23% at the open, down over $10,000 per coin. It is now 40% off its 2021 high.

Investors who purchased on margin are now having to sell stocks. The downward push is especially pronounced in technology stocks.

Elon Musk announced this week that Tesla would no longer accept Bitcoin. Another rumor was that Musk was selling his Bitcoin.

Last edited by charles; 05/19/21 09:21 AM.
Re: Stock Market and Bitcoin this AM [Re: charles] #7267671
05/19/21 10:16 AM
05/19/21 10:16 AM
Joined: Dec 2006
Posts: 6,013
Three Lakes,WI 71
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corky Offline
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corky  Offline
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Joined: Dec 2006
Posts: 6,013
Three Lakes,WI 71

Re: Stock Market and Bitcoin this AM [Re: charles] #7267690
05/19/21 10:52 AM
05/19/21 10:52 AM
Joined: May 2010
Posts: 9,046
mn north of blakely
S
Steven 49er Offline
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Steven 49er  Offline
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Joined: May 2010
Posts: 9,046
mn north of blakely
Won't be long now and there will be a buying opportunity.

Bitcoin will retest its high someday and most likely blow it out of the water.


"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
Re: Stock Market and Bitcoin this AM [Re: corky] #7267697
05/19/21 11:11 AM
05/19/21 11:11 AM
Joined: Jul 2016
Posts: 296
NE Wisconsin
DecoyMacoy Offline
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DecoyMacoy  Offline
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Joined: Jul 2016
Posts: 296
NE Wisconsin


"China bans Bitcoin" is a tale as old as time and has become one of the funniest memes in the space. The next article will be about how "China controls Bitcoin". Haha. Mainstream/corporate media never disappoints.

Re: Stock Market and Bitcoin this AM [Re: charles] #7267777
05/19/21 01:14 PM
05/19/21 01:14 PM
Joined: Jan 2008
Posts: 3,629
M.T.V. Alaska
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yukonjeff Offline
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yukonjeff  Offline
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Joined: Jan 2008
Posts: 3,629
M.T.V. Alaska
For those of you investing in Bitcoin, should be enlightened that its trying to replace the US dollar as world currency. If/ when that happens your banks account and 401 k will be worthless.

The Chinese are trying to start their crypto currency for the same reason. Take down the petro dollar.

Your literally investing in the demise of the US economy.

Re: Stock Market and Bitcoin this AM [Re: charles] #7267778
05/19/21 01:15 PM
05/19/21 01:15 PM
Joined: Aug 2017
Posts: 7,680
Texas - Michigan
Mark June Offline
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Mark June  Offline
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Joined: Aug 2017
Posts: 7,680
Texas - Michigan
Not this trapper.


Dallas Theological Seminary
https://www.dts.edu
https://www.markjuneslures.com/
Predator Trapping Academy Host



Re: Stock Market and Bitcoin this AM [Re: charles] #7267791
05/19/21 01:33 PM
05/19/21 01:33 PM
Joined: Apr 2014
Posts: 6,630
MO
cfowler Offline
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cfowler  Offline
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Joined: Apr 2014
Posts: 6,630
MO
Not invested in crypto, but in reality, nobody is working harder to destroy the dollar than the Treasury and the Fed. Creating trillions outta thin air only devalued what was in existence.


I trap for fun. I skin 'em for the money!
Grinners For Life-Lifetime Member, MO Chapter, Den #1
~You Grin, You're In~
Re: Stock Market and Bitcoin this AM [Re: charles] #7267798
05/19/21 01:39 PM
05/19/21 01:39 PM
Joined: May 2021
Posts: 5
Alaska
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Naturetracker Offline
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Naturetracker  Offline
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Joined: May 2021
Posts: 5
Alaska
Gold and Silver no crypto or paper


Raymond J. Micklon
Re: Stock Market and Bitcoin this AM [Re: cfowler] #7267805
05/19/21 01:42 PM
05/19/21 01:42 PM
Joined: Jul 2016
Posts: 379
SD
T
TC1 Online content
trapper
TC1  Online Content
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Joined: Jul 2016
Posts: 379
SD
Almost like they are working towards the same goal. Why would that be????? confused


Long live the MAGA King
Re: Stock Market and Bitcoin this AM [Re: charles] #7267807
05/19/21 01:43 PM
05/19/21 01:43 PM
Joined: Aug 2017
Posts: 7,680
Texas - Michigan
Mark June Offline
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Mark June  Offline
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Joined: Aug 2017
Posts: 7,680
Texas - Michigan
When you think about how the economists say money is simply a measurement tool that you trade for items you wish to purchase or use...

We may need a bigger tape to measure!


Dallas Theological Seminary
https://www.dts.edu
https://www.markjuneslures.com/
Predator Trapping Academy Host



Re: Stock Market and Bitcoin this AM [Re: charles] #7267841
05/19/21 02:18 PM
05/19/21 02:18 PM
Joined: Feb 2020
Posts: 4,574
Indiana
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Providence Farm Offline
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Providence Farm  Offline
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Joined: Feb 2020
Posts: 4,574
Indiana
I'm thinking about investing a small amount( few hundred) in one or two of the crypto that are at a fraction of a cent. If it goes to nothing it was worth the entertainment. If they go up to .20 I'm a millionaire.

Or I could blow that 300 in 20 min on my range.


I don't have any faith in them but would be something to play with and probably better odds than the lottery.

Re: Stock Market and Bitcoin this AM [Re: charles] #7267848
05/19/21 02:31 PM
05/19/21 02:31 PM
Joined: Jan 2014
Posts: 16,637
North East Kansas
Marty Offline
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Marty  Offline
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Joined: Jan 2014
Posts: 16,637
North East Kansas
Look around......everything is in a bubble except what you have in your pocket for cash...the worth of that is going down daily.

When it is optimal for whoever is planning to take over the world financially they will drop the hammer...



E
Re: Stock Market and Bitcoin this AM [Re: yukonjeff] #7267908
05/19/21 04:04 PM
05/19/21 04:04 PM
Joined: Jul 2016
Posts: 296
NE Wisconsin
DecoyMacoy Offline
trapper
DecoyMacoy  Offline
trapper

Joined: Jul 2016
Posts: 296
NE Wisconsin
Originally Posted by yukonjeff
For those of you investing in Bitcoin, should be enlightened that its trying to replace the US dollar as world currency. If/ when that happens your banks account and 401 k will be worthless.

The Chinese are trying to start their crypto currency for the same reason. Take down the petro dollar.

Your literally investing in the demise of the US economy.


Bitcoin isn't "trying to do" anything. Its just a distributed database protocol. No one is in charge of it. It can't think or plan anything.

The dollar is going to kill itself, with or without Bitcoin existing. It has to happen. Technology is deflationary and is expanding faster than we can even comprehend. Prices can't continually fall or our system collapses due the nature of our fiat monetary system. Therefore the amount of money that will need to be printed to keep things afloat the coming years is unfathomable. Money printer just getting started.

The Chinese (and the US) want to switch to a CBDC (central bank digital currency) for the simple fact they would have more even power/ control over citizenry and monetary policy. They could easily tell you how you can spend your money, where you can spend, who can you can send money to. They could even set an expiration on your money to increase spending boosting the economy.

Hey bright side is if the petro-dollar fails at least we can maybe stop dropping pallets of cash overseas and my friends/classmates can stop needlessly dying in the middle east.

Re: Stock Market and Bitcoin this AM [Re: Providence Farm] #7267944
05/19/21 05:12 PM
05/19/21 05:12 PM
Joined: Jul 2016
Posts: 296
NE Wisconsin
DecoyMacoy Offline
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DecoyMacoy  Offline
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Joined: Jul 2016
Posts: 296
NE Wisconsin
Originally Posted by Providence Farm
I'm thinking about investing a small amount( few hundred) in one or two of the crypto that are at a fraction of a cent. If it goes to nothing it was worth the entertainment. If they go up to .20 I'm a millionaire.

Or I could blow that 300 in 20 min on my range.


I don't have any faith in them but would be something to play with and probably better odds than the lottery.


You'll be better off with the lottery than in any of the thousands of scammy "cheap" coins that play into your unit bias and have flashy marketing. Short term you may get lucky, long term you're guaranteed to lose IMO. Here's why:

Network Effect: Bitcoin has already captured enough network effect it will be extremely hard to top. It has the name, it has the infrastructure, etc. Don't think of "crypto-currencies" like companies, think of them like a bunch of new internets competing. Almost all the innovation happens on the one that is most transparent and with the most network effect.

Distribution: Bitcoin was fairly distributed. It was worthless for several years while the code was open source and available for anyone to participate (still is open). Every new "crypto" coin after it had/has predetermined winners and losers. Bitcoin has almost a biblical "immaculate conception" type story. Pseudonymous creator, hasn't spent a single UTXO. The 2nd biggest "crypto" not only has a face that still controls it, it also had about 70% of the initial supply that was held by insiders at launch.

Decentralization: 10's of thousands (if not 100's of thousands) are running the bitcoin protocol on supercomputers all the way down to tiny little home assembled raspi computers. These are nodes, not to be confused with miners. Nodes keep everyone in the system honest and also allow one to verify that they hold the underlying UTXO's ("coins") for themselves. Most new "crypto's" have taken the easy scaling bait and tried to be "all things on the blockchain". The amount of data they need store is enormous with lead to only specialized hardware being able to run nodes which price out "the little guy" from verifying the system for themselves. We just end back where we are now....."Trusted third parties are security holes". Bitcoin has taken a layered approach to scaling, keep the base as simple as possible for everyone then build upon, just like how our internet mostly operates.

I could go on but I'll leave it at that. Good luck gambling either way.

Re: Stock Market and Bitcoin this AM [Re: charles] #7267954
05/19/21 05:40 PM
05/19/21 05:40 PM
Joined: Sep 2014
Posts: 91
Maryland
A
Antarctica Offline
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Antarctica  Offline
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Joined: Sep 2014
Posts: 91
Maryland
They said the same thing about the Euro 10-15 years ago...

Re: Stock Market and Bitcoin this AM [Re: yukonjeff] #7268095
05/19/21 09:25 PM
05/19/21 09:25 PM
Joined: May 2010
Posts: 9,046
mn north of blakely
S
Steven 49er Offline
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Steven 49er  Offline
trapper
S

Joined: May 2010
Posts: 9,046
mn north of blakely
Originally Posted by yukonjeff
For those of you investing in Bitcoin, should be enlightened that its trying to replace the US dollar as world currency. If/ when that happens your banks account and 401 k will be worthless.

The Chinese are trying to start their crypto currency for the same reason. Take down the petro dollar.

Your literally investing in the demise of the US economy.



That is about the same as saying that someone who is 90 years old with covid that dies and the doctor lists the cause of death as Covid. Forget the fact that gentleman smoked his entire life, was overweight, and had stage 4 cancer.



The US dollar will only be taken down by our arrogance and deficit spending.


"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
Re: Stock Market and Bitcoin this AM [Re: charles] #7268167
05/19/21 10:52 PM
05/19/21 10:52 PM
Joined: Jul 2012
Posts: 380
SE Missouri.
P
Pirogue Offline
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Pirogue  Offline
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Joined: Jul 2012
Posts: 380
SE Missouri.
Im heavily invested in lead and powder.

Re: Stock Market and Bitcoin this AM [Re: charles] #7268171
05/19/21 10:57 PM
05/19/21 10:57 PM
Joined: Jan 2014
Posts: 16,637
North East Kansas
Marty Offline
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Marty  Offline
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Joined: Jan 2014
Posts: 16,637
North East Kansas
smile



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Re: Stock Market and Bitcoin this AM [Re: charles] #7268172
05/19/21 10:59 PM
05/19/21 10:59 PM
Joined: Dec 2010
Posts: 174
Southeast, Alaska
S
SE.Current Offline
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SE.Current  Offline
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S

Joined: Dec 2010
Posts: 174
Southeast, Alaska
Brass, copper, silver and gold. And Iím about to sell the copper to make room for more brass

Re: Stock Market and Bitcoin this AM [Re: Antarctica] #7268215
05/20/21 01:23 AM
05/20/21 01:23 AM
Joined: Jan 2008
Posts: 3,629
M.T.V. Alaska
Y
yukonjeff Offline
trapper
yukonjeff  Offline
trapper
Y

Joined: Jan 2008
Posts: 3,629
M.T.V. Alaska
Originally Posted by Antarctica
They said the same thing about the Euro 10-15 years ago...


Yep. That was the plan for the Euro as well to replace the Dollar. That didn't happen, but now here's the same EU globalist trying again.

"Its created by computers no one is in charge" Yea right. lol

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