How soon until Bitcoin crashes?
- Thread starter Liar Loan
- Start date
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This could be why Nvidia tanked after providing poor guidance when they released their earnings this afternoon.
Other way around ?
Nvidia had guided back in the summer about slowing demand for bitcoin mining GPUs . I am surprised it took this long for the bitcoin people to wake up . This bitcoin thing is being propped up until one or few of the large owners decide to liquidate - then we wil get true price discovery ...
momopi
Well-known member
Depending on condition of item, if you complain loud enough Amazon will let you trash it and send a refund.
Earlier this year I ordered some Korean facial masks, Russian marine/military emergency ration bars ("elf bread"), and DA polisher foam pad (for car detailing) cleaner solution. The foam pad cleaning solution bottle broke and I eyed face mask and Russian rations thinking "do I really want to put this on my face or eat it". Called them and they said just throw it away and they'd send me a refund.
Side note, the Russian "Marine Pro" ration bars actually taste pretty good. It's like sugar, fat, and oatmeal. Will keep for 5 years. I fed some to my coworkers and they all agreed that it tasted better than the typical "Coast Guard" emergency ration bars made here.
Earlier this year I ordered some Korean facial masks, Russian marine/military emergency ration bars ("elf bread"), and DA polisher foam pad (for car detailing) cleaner solution. The foam pad cleaning solution bottle broke and I eyed face mask and Russian rations thinking "do I really want to put this on my face or eat it". Called them and they said just throw it away and they'd send me a refund.
Side note, the Russian "Marine Pro" ration bars actually taste pretty good. It's like sugar, fat, and oatmeal. Will keep for 5 years. I fed some to my coworkers and they all agreed that it tasted better than the typical "Coast Guard" emergency ration bars made here.
morekaos
Well-known member
Big breakdown...
Bitcoin Plunges Below $6,000, Hits New Lows for the Year
The virtual currency has lost more than 60% of its value this year
The lull in cryptocurrency markets is over.
Bitcoin dropped more than 10% on Wednesday, falling below $6,000 and reaching new lows for the year.
https://www.wsj.com/articles/bitcoin-plunges-below-6-000-hits-new-lows-for-the-year-1542247659
Bitcoin Plunges Below $6,000, Hits New Lows for the Year
The virtual currency has lost more than 60% of its value this year
The lull in cryptocurrency markets is over.
Bitcoin dropped more than 10% on Wednesday, falling below $6,000 and reaching new lows for the year.
https://www.wsj.com/articles/bitcoin-plunges-below-6-000-hits-new-lows-for-the-year-1542247659
usctrojancpa
Well-known member
morekaos said:
This could be why Nvidia tanked after providing poor guidance when they released their earnings this afternoon.
USCTrojanCPA said:
Other way around ?
Nvidia had guided back in the summer about slowing demand for bitcoin mining GPUs . I am surprised it took this long for the bitcoin people to wake up . This bitcoin thing is being propped up until one or few of the large owners decide to liquidate - then we wil get true price discovery ...
https://www2.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-2.html
Huge huge news.
Banks can save tremendous amounts of money here. I doubt they will pass on the savings to customers though so continue to expect .0x % savings rates while executives yacht sizes increase lol
Huge huge news.
Banks can save tremendous amounts of money here. I doubt they will pass on the savings to customers though so continue to expect .0x % savings rates while executives yacht sizes increase lol
Cornflakes
Active member
For BTC to be a real currency, the volatility has to flatline eventually. Till then it is just a speculative trading instrument.
If I sold you a product for $1 today and stick that dollar in my drawer, I know that 3 months from now it will still be a $1 more or less. If I sold you a product for x bitcoins, I have no idea weather it will be worth half or double 3 months from now. Therefore, for selling product or services at my profit margins, I'd prefer $ payment. For a gamble, sure I will be more willing to partake in BTC as my risk tolerance allows.
If I sold you a product for $1 today and stick that dollar in my drawer, I know that 3 months from now it will still be a $1 more or less. If I sold you a product for x bitcoins, I have no idea weather it will be worth half or double 3 months from now. Therefore, for selling product or services at my profit margins, I'd prefer $ payment. For a gamble, sure I will be more willing to partake in BTC as my risk tolerance allows.
momopi
Well-known member
I don't trade BTC directly -- I hold BTC through some shares in GBTC.
I do however have few thousand dollars at Coindesk and Kraken in alt coins for fun, like DOT staked at Kraken @ 12%. You can take blockchain/crypto related classes online at Udemy.
I recommend watching this YT channel:https://www.youtube.com/channel/UCI7M65p3A-D3P4v5qW8POxQ
I do however have few thousand dollars at Coindesk and Kraken in alt coins for fun, like DOT staked at Kraken @ 12%. You can take blockchain/crypto related classes online at Udemy.
I recommend watching this YT channel:https://www.youtube.com/channel/UCI7M65p3A-D3P4v5qW8POxQ
Yup, Coinbase is a great way to get into crypto. It is like a crypto bank/brokerage so they have all the KYC (Know Your Customer) rules meaning you have to provide all kinds of personal information (just like you do when opening an account at Chase or Robin Hood).
I bought in some more GBTC as it is trading at quite a discount. I find things like GBTC and ETHE useful to purchase in my Roth IRA as I have some years still before I can pull those funds out.
For those who are experienced with crypto, please do post your tips.
I bought in some more GBTC as it is trading at quite a discount. I find things like GBTC and ETHE useful to purchase in my Roth IRA as I have some years still before I can pull those funds out.
For those who are experienced with crypto, please do post your tips.