I have to say that watching all these retards panic selling is pretty entertaining

I have to say that watching all these retards panic selling is pretty entertaining.

What's happening is people who made absurd profits on the last two months are obviously cashing out now, and new investors who bought the whole bubble meme are getting scared and panic selling because they think ''a crash is happening'', which in turn makes more retards panic sell.

There's literally no event or news to lead to all this panic, on the contrary, BTC and crypto are getting only good news and more adoption lately. It's completely irrational to think that everything will suddenly crash, and drops like that are nothing new to crypto.

But I guess I can't expect anything from autistic millennials who invest their money based on what Veeky Forums shills and redditors say. It will be beautiful to watch all these people killing themselves as the price rises again.

Other urls found in this thread:

bitcoin.org/en/choose-your-wallet
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STOP POINTING OUT THE OBVIOUS CUZ I COMPLETELY AGREE WITH YOU

Well, i already feel this way over people who sold their DGB

As a poorfag with just 150€ to lose, it doesn't matter if my hands are strong or not... Feels good for once.

Who's panic selling?

People are getting out before the BTC hardfork dum dum.

This. Also news of impending government regulation isn't helping either

>fork will give you coins on both chains
>one chain will win out and price will resume rising
>let's panic sell everything RIGHT NOW
ok yes

tfw jews are scaring people with "future regulations" in order to buy low and sell high.

These FUD shills have fucking talking points that they keep repeating I swear. That's not what's happening lol.

We're approaching a new golden age of crypto user, soon your 150 will make you a millionaire. The ones who don't have the guts to withstand the thrill of the gamble shall be eaten by the market.
There's still two months until the possible hardfork, I doubt everyone will stay away from the huge gains this market can give them for two months just in anticipation for something that will likely increase the value of BTC.

Besides, the only first world government that is sort of trying to regulate crypto in a hostile manner is the USA, and nothing even happened yet. Russia, Japan, China, South Korea and etc are going all in crypto, and it's only the beginning. Soon freedom land will also follow

Thanks for the motivation, user. Obviously, it is going to take a while until I reach these numbers. I will keep begging around Veeky Forums meanwhile.

Listen to this guy.
Japan is already huge into Crypto. South Korea, Taiwan, China are all following. India is slowly moving from physical tender to Crypto.
Many countries in the EU have little to no regulation on Crypto.
My great land of the Burger will surely follow. Only good can come of this.

>sell as value starts to drop
>use money gained to buy more of whatever coin when at its lowest
>repeat

USA wont go easily. The dollar is the global currency, and they will not give that spot up without a fight (the faggots)

This is true. However, the dollar has major flaws. We worry about OPEC so much due to the fact that the US dollar is based on the price of oil. In fact, the price is dropping now due to the mess that OPEC is currently.
Why do you think we're so involved in the middle east? It really is silly, the switch from gold to oil was a very stupid decision in hindsight.
Because of that, I feel the dollar will become weaker and weaker. It seems strong due to the fact that the markets are complete garbage, even commodities are looking like crap recently.

In reality, the dollar is a complete sham. It can only be held up for so long. The bureaucrats in Washington will fully understand, and they will profit off of Cryptocurrency more than anybody on here is. I can guarantee that.

Remember that the most efficient tactic is not forceful to go against, but to dominate from within. My bet is that the USA will try to do with crypto the same they did with the internet, which is to slowly make It more centralized and controlled with slippery slippery after slope slope without people noticing what's happening.

See what's Russia is doing for example, their main bank is creating an national cryptocurrency, not that the USA will do the same thing, but my guess is that they will try to have a similar approach, as history has proven that forceful going against people's will has a huge chance of backfiring.

>It will be beautiful to watch all these people killing themselves as the price rises again.
I'm waiting for this... Actually the most entertaining part...

Thanks OP some people need to read things like this


Stay movtivated, I'm going from Loser to Lambo and you can too.

Also this, I think that they were to late to get on BTC and ETH so they want to scare us burgers away while they buy and toss out the bill when they have enough.

So what's the difference between panic selling and taking profits? I am up 4400% since last July, and decided to sell my ETH and most of my alts and buy a house.

You make money to then make more money. It's okay to take a little out, but if you cash everything out you are basically wasting an opportunity to get more profits in the future or even now.

The difference is if you didnt panic sell, you could have bought a new car to park in your new houses drive way rather than take the bus.

I think i'm the opposite and panic buying which i really don't want to do, i said i wold stop pumping money into this, i just love seeing the gains man

Also, Like I said in the OP, there's a difference between the people taking profits and the others panic selling. Taking profits is fine, the problem is the people who are selling low because of the ''sudden'' price drop thinking the market will crash.

>Buy a house
Sell me on a house. I saw a thread earlier saying that renting was better because other people take care of things that break and reselling a house cost a chunk.

If I'm still not convinced would a condo be a good investment?

Money gives you opportunities and with opportunities you can make more money. By buying a house you are wasting a huge chunk of money and thus, reducing the opportunities that you have to earn more. So I think that renting is better unless you are rich and have enough money to blow on a house without taking away from your investments.

Spending your entire gains on a house is absolutely retarded, yes, but it can certainly be worth it in the long run. Very consistent increase if you're smart.
Although with these gains on Crypto, it probably won't truly be worth it for quite awhile. I'd wait a few years. The housing market is very sporadic right now anyway.

He could wait until the bubble pops and pick up the same house at half the price, right now is bad terrible time to by a house. By then his coins would be worth double what they are now. He would only need to use a quarter of what he would right now in this market.

Yeah, that's what I'm thinking.
Even if you found a good opportunity, it's going to be an even better one later.
And you'd have to be even more retarded to leave Crypto right now.

Buying a house is almost always a ''safe'' investment, but as it's the case with every very safe bet, it won't give you huge gains, just consistent gains.

a blast from the past.

Thanks for the advice guys. I'll rent for now and when I can buy a house down the line for cheap.

Also it is silly to "cash out" of crypto maybe take out half yeah but never fully out. See you anons on the moon.

granted im not the smartest person, but everyone i know who has bought a house seems to regret it. yes its nice to own something rather than rent, but a lot of mainteneance and costs go into a house. my friend was telling me all the costs asociated with it, like property taxes, sewer costs, homeonwers association fees, water bill, garbage bill, pge for whole house, i mean its thousands of dollars a month just for upkeep. no thank you. ill take my small dingy one bedroom apartment for 700 dollars a month

Good luck friend.
You are completely right, it's fine to take out gains. Just remember to be smart with the money! No cocaine or hookers, alright?

Thank you for not buying a house in this market. Its like when you see someone in a movie drop an entire case of money out of an air plane in to the ocean. Just grates on your spine. You wont have long. This market is rotten and not even Trump can fix it. Its going to be a spectacular crash.

Same guy as in , just on a different device. I enjoyed living in a condo. People took care of all the snow and leaves and exterior, and the inside was mine to do whatever I want with. I finished the basement and made it into a bar. I could sell the condo and make about 40k, or I could rent it out. Not sure which way I'll go yet. Either route, I think a condo is a nice middle-ground between renting and owning a detached, single-family home with land of your own.

> Implying I've ever been on public transit in my entire fucking life.
> Implying I didn't already buy a car with my crypto gains back in March.
That's actually hilarious.

The market had been rallying practically non-stop for weeks prior & the dump literally started on the same day the biggest btc mining pool announced plans for a contentious hard fork in opposition to the UASF.

>There's literally no event or news to lead to all this panic, on the contrary

>The market had been rallying practically non-stop for weeks prior
That's basically what I said though? People are cashing out after huge gains, thus the market is having a correction.

As for your other point, do you really think BTC would go from 3k to 2,2 just because of that? Most people aren't even aware of it, also . Not to mention that even things that aren't as affected by BTC price as most alts, like ETH, are dropping hard, which proves that the price drop is due to people cashing out+panic sell caused by prior hysteria that this market is in a bubble, it has little to do with a possible hard fork that will happen in about two months.

I read in the news the current slump is due to DDOS attacks on several websites. Combine that with people cashing out to burn all their gains in buying overpriced houses, then it does make sense. Probably at least one Jew in there dumping high so he can buy again low.

I'm laughing because I've been saying this since 2014

What is really hilarious is that dipshits buy into the idea that Bitcoin or it's mimicries are actually worth money and they spent money buying them.

Coins are worthless, they've only had actual utility as a way for 3rd world wealthy people to transfer money around without taxes or restrictive banking laws. It served as a sort of grey-market way for these people to put money outside of their own economy that'd they otherwise be restricted to. Those dark ages are over, especially in China and Iran where most Bitcoin is(was) held.

Now it's just nerds bag-holding, waiting until Bitcoin is back down to $15 or so to where it's at it's true nature providing a payment method to buy shit and kept a secret from authorities at the same time. 10 years later, probably a better alternative will be found for anonymous blak-market/ grey market transactions without all of the flaws Bitcoins have. Everyone already knows every other memecoin is worthless scam artist shit.

If you have Bitcoin and you don't sell now, andif you are still in the green, you're an idiot. Fake digital internet P2P transaction money has bubbled and it's because of Chinese investors desperate to find a place to keep their wealth for few months while their government decides what they're allowed to do with their money.

If you think cryptocurrency is some kind of hedge against fiat currency you're dumb as fuck. This run up has been about nothing but Chinese investors trying to shunt their money off to where their government can't fuck with it.

That's all coming back around. Sell now, before every Chinaman wakes up and finally gets connection enough to these exchanges to sell their coin.

But you are describing every monetary system.

All currencies and money values are the values people place in them.

God, you are the very definition of a imbecile who thinks he's smart.


You should stop shitposting on Veeky Forums and take some classes about basic economics. Actually, this isn't even a matter of economics since even a fucking child could come to the conclusion that 99% of the things in the world don't have an intrinsic value, their value is based on how much people are willing to pay for them. Take diamonds for example, shit is fucking useless and yet, people pay absurd amounts of money for it, so why something with objective utility and real life use like crypto wouldn't have value?
You are retard.

>Coins are worthless
Tell me, given that you can pay for your shit with crypto, why the fuck would you use fiat? Crypto is literally objectivity superior to fiat in almost every way. The only thing that makes everyone use fiat rather than crypto is 1) Lack of places accepting crypto as payment 2)Lack of knowledge about the matter because it's new.

>10 years later, probably a better alternative will be found for anonymous blak-market/ grey market transactions without all of the flaws Bitcoins have
So basically you are saying that we would have another cryptocurrency? I really want to see you trying to explain what could be more efficient to do what you described than fucking crypto.

>This run up has been about nothing but Chinese investors trying to shunt
China isn't even the country that's adopting crypto the most you illiterate fuck.

>$15
Kek, the market had much worse drops over the decades. I've seen retards like you claiming the fall of BTC ever since 2013, always for different reasons, and always getting BTFO, like you will be as well.

Petro-dollar and it's hard-currency equivalents like the Euro ilk are backed by physical commodities, like coal, oil, wheat, corn, ect.

Gold prices can vary crazily, but at least gold ETFs, vouchers, physical gold, are backed by gold. It's a metal. Not very useful, somebody will buy it from you at $500/oz to line astronaut helmets or to apply a molecule-thin coat on some tiny pins in a microchip they produce.

Bitcoin, memcoins, are backed by literally nothing. The utility price of bitcoin is just above zero, since it still hase value in clandestine transactions and it's a way for investors in shit-hole countries to expatriate their wealth.

Hard to place a bottom value on that last one. What if some reputable company makes a cyrptocurrency? Googlebux? Or major bank in Switzerland or the Cayman Islands issues a cryptocurrency? What if there was a coin not produced by nerds or scam-artists? What if that coin were backed by commodities, or bonds, even?

Sorry, folks, Bitcoin, memecoins are essentially worthless, especially when an alternative is presented. All these huge gains are because of people in the 3rd world, with wifi connects, money and nowhere good to invest it, buy Bitcoin and it's only purchased as a hedge against inflation, it's bought with yuan and sold for yuan because that's what medium they use to purchase fucking groceries and heating oil, so they can survive.

The bill doesn't even do shit as far as crypto goes except call for a report to be made within 18 months about possible ways to address issues. Did any of you even bother to read it or did you just go full flipout mode over nothing?

That's nice user. Now replace any reference to 'crypto' with 'fiat' and you have the exact same argument.

>backed by physical commodities, like coal, oil, wheat, corn, ect.
Wrong. They are backed by the price of those commodities.
In theory, it's the exact same as Crypto. BTC has a price in USD, altcoins then have a price based upon BTC.
If you really want to claim there is nothing backing Crypto, then you're a lost cause. The internet had nothing backing it. Why is it worth so much?

Bro, glad you made money on this, I'm happy that youre happy. I love success, however, II loathe failure.

For anyone else, it's a bad time to want to buy or hold shitcoins.

You didn't even counter any of those points.

Fait doesn't change in value 20% in a day, unless you live in a shithole country.

They might make a better cryptocurrency. Especially if all the huge firms with billions of dollars get behind it.

It's at least 70% Chinese investors from what I read, from big-business sources afaik. Ithey could be wrong.

Just because a financial instrument dropped in value and recovered, doesn't mean it will recover again.

Like I said, all it will take is an alt-altcoin issued by an institution with money and meme coins are done. Especially now. Any investor will be looking on with awe and disgust. Untill BTC finally bottoms out, THEN, if some alternative bit-shit coin is issued. All that money will pour into it. They'll all thik they are investing at a bottom of a sector/industry only this (revolutionary, new-improved, like shit-coin only better, also underwritten by this and such bank and this and shitface massve hedgefund. GOOD THIS TIME>.

Have fun holding those bags.

Price of those commodities is based on USD.

You are saying the petroldollar isn't backed by petrol because BTC is backed by Niggercoin, or Litecoin or Dogecoin.

Like saying the Mexican Peso is backed by the Indian Rupee and Russian Ruble. So what if they are? They're all fucking garbage.

Rofl. It is really amazing that you think your thought are worth this much of anyone's time. You've been saying that bitcoin is going to crash since 2014? Name a single investment that has better returns than Bitcoin 2014-2017. Lol, I'll give you all day to find me one. You must be really smart to make literally the shittiest pick in investing for the past 3 years straight

>Fait doesn't change in value 20% in a day
I don't know if you are intellectually dishonest or just dumb. Do you really do not realize that the only reason crypto is a volatile is because it's still a new and speculative market? Every new thing has a volatile phase, a booming phase and then, when it gets mass adoption it becomes stable. Same happened with the internet.

>They might make a better cryptocurrency.
So it would still be cryptocurrency? Got it.

>It's at least 70% Chinese investors from what I read
Japan is by far the country that's adopting crypto the most. Some of the biggest companies there and even the government is supporting it. Go search for news about Japan and crypto and you will see how absurdly fast shit is growing there.

>Just because a financial instrument dropped in value and recovered, doesn't mean it will
Why do you think it's different now? All the news and things point out to crypto becoming bigger and more adopted, not the contrary. It recovered from drops caused by actual major events, like the mt gox, so why wouldn't recover now when literally nothing is happening?

>all it will take is an alt-altcoin issued by an institution with money and meme coins are done.
The free market decide whether something will be successful or not. Russia's bank is making a national crypto for example, it may destroy altcoins, but it may also be destroyed because people won't buy it.

>Have fun holding those bags.
Sure, have fun being BTFO yet again.

You had your chance to invest on this before, you had your chance to make money, but your skepticism is so far up your ass that you can't listen to reason. Patterns and signs are showing you for about 8 years that the market is promising, but you ignore, ignore and now, ignore again.

You have no one to blame but yourself when it skyrocket and you are left with the sensation that ''I could be a millionaire now, but I decided to be a skeptical fag'''. This is like the internet all over again

No, the VALUE of those commodities are in USD. The price is based upon the market, supply and demand, and OPEC mainly. Completely different.
Petrodollar IS backed by Petrol. BTC is not backed by altcoins, it's the other way around.

You are retarded. Op is right, not you.

I never said I never invested in Bitcoin, lol. I bought some in 2015. Sold it for a profit.

I sure as fuck didn't think to put all my money into it, or believe these delusions like it might actually become a currency.

I saw it as a faddish no-future instrument and I bought and sold it. I admit it, I sold it way too early. I'm always in awe of the illogical ways money moves.

What do you have it in?
What coins do I go into? I'm in RDD, Espers, and Bat right now.

No, I bought into cryptocurrency, mostly bitcoin and sold when I thought it's value was out of wack back in February. Maybe a little bit butt-hurt, since instad of shitting itself like I thought, it something like tripled in value, I didn't know that much money would pour into it, not know much about the Chinese investment scene.

I knew it was all gimmicky bullshit games from the start, I just didn't think people were retarded enough to send the prices up to $3000/ coin.

So, why do you think this shit is worth that much money? Seriously, you think one bitcoin is worth like a used car in terms of value? How? Why? Somebody must have because somebody out there paid more than 3k USD for a bitcoin or more---and thought it was a GOOD INVESTMENT.

gold happened to become the discovery of money because it's characteristics; hell-scarce and fungible
it's a useless commodity and yet was better than anything else to fit your pockets, your coffing and your cart

its use in jewelerry isn't unrelated to its use as money, there are cooler things around but wealth itself is simply the best way to just show off / brag about it.

Its aesthetics doesn't even factor in, there are other metals that are way more unique

cryptos utility is divine, it just happens that unlike natural stuff,. it can be re-created over and over again so its scarcity happens to be a trick.

You know, I actually like Crypto more than gold, even though they are in reality they same category. They are said to be 'like money' or 'stores of wealth' but they are both just speculative games, not much different than gambling, or fml, oil futures.

I would say Shitcoins have utility over gold in terms of 'currency lol store of wealth' in that you can buy and sell shitcoin from your phone, anywhere in the world, and you can do it IN SECRET.

Good fucking luck trying to be cool and indiscreet selling a goddamn fucking brick of gold to somebody and getting a good price for it. Gold buyers and sellers rip people the fuck off. Memecoins, while they are technically worthless, they are valuable for their 'utility' in enabling untraceable monetary transactions .

Gold is the total opposite. You show up trying to fucking barter or sell a huge nugget of gold you are getting robbed, shot, arrested, ripped-off, or any combination of the above.

Fine-point, user-kun. I would'nt put much money into either gold or crypto shit right now though. Maaaybe in the future.

>What coins do I go into? I'm in RDD, Espers, and Bat right now.
That's relative to momentum imo. You have to watch the news, rumors, charts, flow and patterns to decide what's best to invest atm. If you just ask for a specific currency most people will shill the coins they are holding, without that much reasoning behind besides ''the dev team is competent'' ''tech is promising'' or vague shit like that.

That said, I have a few golden rules that I mostly follow before investing on something:
-Marketcap and circulating supply relative to price. This is very important, if you invest on a promising coin that still has low marketcap and circulating supply, your chance of profit are very high as every coin eventually booms one way or another.
-If the project has potential to get the attention of investors or if it has advantages over other projects. A fancy site full of hype and promises may also work for short term, as that seems to be all the noise now.
-Coins that moon and then had a dip are also very prompt to being bumped

Currently, I'm eyeing Byteball, Blocknet, Factom, LBRY, Ubiq and Ans

>So, why do you think this shit is worth that much money? S
Firstly because crypto is now way past the phase when it was just a market for currencies. Many projects that people are investing in have very promising ideas that are tied to cryptocurrency, but aren't entirely based on it. Ethereum for example, contrary to popular belief, It is much more of a service or a app than it is a currency, ether, which is it's currency is just used to make Ethereum work.

Second, because even if it was just a currency, why wouldn't you want to be able to make your payments without a need for a middle man? Without companies having access and selling your personal information. Why wouldn't you want to take care of your own money and send to anywhere you want without needing help? Why wouldn't you want faster transactions? Or to earn money just by leaving your coins in your wallet(PoS)?

> 3k
Remember that you the price is based on its circulating supply. Currencies that have trillions of coins in circulation are cheap.

Also, you can buy how many sats you want without needing to pay the whole 3k.

There is pay pal. Debit transactions. E-checks. Bro, paying for shit is made easy as possible. That's only if nobody like authorities cares about what is bought and sold, perhaps with taxes depending on where you live.

What is the user-base for people making transactions through the Internet that somehow can't just order direct deposits between burner Wal-Mart Green-Dot pre-paid debits? Absolutely nobody is supervising that unless it's completely aberrant and it's also a huge sum of money, everyone knows these transactions are international ones, Illegal immigrants ineligible for regular bank accounts, sending money to one another, fine.

SO what is the real market for fucking Bitcoin? Besides shit so illegal they can't trust Wal-mart burner pre-paid debts for? CP? Deep-web shit? How much of the latter is real? How much money is changed hands through the internet?

So what use is bitcoin? Can someone explain? I know how it is different than other transactional exchanges but HOW is it better?

See pic related.

>>There's literally no event or news to lead to all this panic
>New anti crpyto bill
>BTC split on August 1st

Well done posting the same junk that has already been debunked previously in the thread.

>There is pay pal. Debit transactions.
I don't know why you mentioned those when I just said that not having middleman is one of the advantages. Say, how Paypal and debit transactions aren't both middleman? And how my transactions are private when I use them?

>paying for shit is made easy as possible.
That's not the argument here. The fact that's ''easy'' doesn't change the fact that you have to trust companies with your information and money.

>n burner Wal-Mart Green-Dot pre-paid debits?
Tell me, how the fuck will you store huge sums of money on wallmart greendot pre paid debits? Plus, how will you send money to someone, of your family or a friend, with those things?

>SO what is the real market for fucking Bitcoin?
I literally just said. You ignored all my points and somehow thinks that paypal and debit cards are a solution when they are neither private or trustless. Plus, currencies like Dash are faster than literally any fiat or bank transaction in the world.

>they can't trust Wal-mart burner pre-paid debts for?
If you are fine with companies having access to what you buy and having your information, that's on you. Are you fine with botnet too? Well, there's people that are not, which is why they prefer BTC.

Now let me ask you, why NOT use BTC? Imagine the scenario where crypto is the norm and you can use it over fiat if you want. Tell me one good reason why you wouldn't use crypto, I'll wait.

>I know how it is different than other transactional exchanges but HOW is it better?
I'll not repeat myself. It's better because it's private, trustless, fast, can make money for you passively and is completely on your control. If those things don't matter to you, well, that's too bad, they are facts whether you like it or not.

If I put $100k on a Wal-Mart pre-debit, back in May, i bet it would still be worth 100k USD today. Okay maybe, what, -%0.14 inflation?

Can you say the same for Bitcoin? Which is the better store of wealth, then?

Is essentially no return better than -25% return in a couple months?

SURE FUCKING SEEMS LIKE IT. So if my burner-checking account creates more wealth than your fucking cyrptocoin, than what does that say about fucking cryptocoin?

>Muricans think they are important.

>No way to enforce bill

Get rekt faggot

>Can you say the same for Bitcoin?
What do you mean? If I put $100k on my BTC wallet back in may, it would be worth more now even if you consider the current drop( It was 2k back in 1st may and is 2,4k now). Plus, you are going back to the volatility problem, which I already said that's due to 1) current booming phase of the market 2) New technology/service 3) Still a speculative market. Given that BTC becomes more adopted, it wouldn't be as volatile.

Not to mention that BTC is a pretty stable currency considering its situation to be honest. Go to the BTC chart and observe price from the beginning to now, you will see that it isn't so different from most markets even though it's sitting on a extremely new and volatile market.

>Is essentially no return better than -25% return in a couple months?
Except BTC was 1k back in April. It's 2,4k now. To me at least, a -15% sounds fine after a growth of 200% over the past two months.

>So if my burner-checking account creates more wealth than your fucking cyrptocoin, than what does that say about fucking cryptocoin?
No, it doesn't and I just said why.

Correction: It was worth much less than 2k back in may. It was fucking 1,3k in may.

but where the fuck do i buy crypto currency?
everything is such a fucking headache
I do not want to write money to mtgoy or whatever the fuck
i just want to enter my cc info, type 1000, and get my crypto currency

even if BTC and ETH have an autism crash they will come back in the long run and at that point we will hit peak autism

I personally like to buy on localbitcoins and also sell there when I need to cash out. Why? Because you don't need to provide ID, selfie or personal information, it's secure due to escrow system and extremely fast(normally you can get your BTC in less than 30 minutes). You just need a bank account to make the deposits

Forks aren't going to actually affect the price on the long run now, after the Bitcoin Unilimited drama unfolded into nothingness
Neither is government regulation, PBoC crackdown on exchanges failed to stop the rally
Also, there's quite some crypto laws in the US and elsewhere already

I think you are wrong for taking their advice. It's better to buy. Think about it. Buying a house is an investment. Sure you have to do your own maintenance but the house appreciates in value and you can sell it later for profit if you want to. If you rent you are throwing away money on property that will never be yours. Chances are the landlord will only ever use a small fraction of your rent money for "maintenance". It all goes straight into his pocket. You may as well flush money down the toilet.

Actually I just remembered that some sellers give you a option to pay with cash deposit as well.
Except he can use the house money to expand his wealth, instead of blowing everything into just one investment that will barely give a decent return.

I completly agree on that, the trading costs are expensive in comparision, yet, it's the price we're willing to pay for its main perk, it just works at what it does; preserve wealth, since, well, 5000 years ago? kek, as institution (cultural complex subjected to natural selection), it's even older than this language

if alchemy was a thing, gold would not fit its current role, as scarcity would dismish.
If the replicas wherent exactly the same, and they just iterated in color.
It wouldn't neither be the same, because the scarcity wouldn't be absolute, but relative to using one standard or adopting a different one.

Cryptos flaw is that perk. That's why it doesn't fit gold's role and it never will.

Understanding this is key, and yet it doesn't seem that these thought are any popular.

Thanks user, I'm looking at localbit and i like what i see
Any recommendations on a wallet?

>buy high sell low

That depends on your preference, this site may help you:
bitcoin.org/en/choose-your-wallet

>What's happening is people who made absurd profits on the last two months are obviously cashing out now
Obvious bullshit. Only weak hands and pumpers are selling it. People that believe in this and good traders know this is just a bear trap.

>There's literally no event or news to lead to all this panic
Again, bullshit. Jihan spread FUD through a blog post, it's all over the crypto world.

This is the first red day in 12 green ones. It's called a correction.

>Jihan
literally who
No seriously, I don't know about any of the cypto e-celebs, last one I knew was the Max guy

Jihan is the CEO of Bitmain. They currently produce 20% of Bitcoin's hashrate. They are the most pro-hardfork/bigger blocks in the industry, simply because it makes them more money. Bitmain published a post on their blog basically saying "Hey, we're pushing a User Activated HARD fork (aka miner forced hard fork), if we don't succeed, we'll fork a new bitcoin, and we'll premine it, you just have to trust us smelly chinks, ok? ;)))"

His main reasons are that BIP 148 will solve a vulnerability in the system that makes it so that his hardware has a boost in performance (search for asicboost), making him lose billions.