All Forums | General Discussion

Crypto currency in a death spiral..

...
Participants:
Search model icon
Views: 13834
Posts: 287
 
Legend
Participation Meter
Joined: May, 2003
Posts: 71023
Posted: #201

Now it's worth 17k and dropping. Pretty much have lost it all. 

 
Veteran
Participation Meter
Joined: Nov, 2007
Posts: 4749
Posted: #202
Quote Originally Posted by searchwarrant:

Now it's worth 17k and dropping. Pretty much have lost it all. 



Rather than say you lost it all, try saying temporarily down 23K. It's just a paper loss until you sell.

It might get worse before it gets better, but I believe there are greener days ahead.

If it makes you feel any better. Over the last 5 years, if a BTC investor missed the 10 best trading days (per year), they would be down 25%. Considering the run up that BTC has had in 5 years, that's an incredible stat. My point is, most of the crypto profits come in the parabolic bull runs.
 
Veteran
Participation Meter
Joined: Nov, 2007
Posts: 4749
Posted: #203
To add to my previous post. If you're a long term investor in crytpo currencies, you must learn to cope with massive paper losses. The market is much too volatile to avoid it. Once you master this, the day to day swings won't affect you. As a sports gambler (or investor), you should already be somewhat accustomed to this. Also, because of the extreme volatility, make sure you're comfortable with the size of your investment.

Like I referenced above, the only way to be part of the massive bull runs is to hold. If you're unable to hold through the hard times, I highly recommend you avoid this market.

Best of luck to everyone! HODL ON

 
Veteran
Participation Meter
Joined: Dec, 2005
Posts: 3675
Posted: #204

Post 208 is correct. 

 

 
Legend
Participation Meter
Joined: May, 2003
Posts: 71023
Posted: #205

I tried to generate some cash to sustain the downfall in LTC through you guessed it, Betting.

Lost about 13k in a month doing that so all I have left is this fuking shit coin and a few hundred dollars in my checking account. 

It's noon and I'm drinking beer. I hardly eat or sleep much. Bookie is after me for another 4k - no idea where I'm going to get it, zero.

Soooo, that's how it is in my household. I guess it was just meant to be. 

 

 
Legend
Participation Meter
Joined: May, 2003
Posts: 71023
Posted: #206

Quote Originally Posted by Kaufee:

QUOTE Originally Posted by searchwarrant: Now it's worth 17k and dropping. Pretty much have lost it all.  Rather than say you lost it all, try saying temporarily down 23K. It's just a paper loss until you sell. It might get worse before it gets better, but I believe there are greener days ahead. If it makes you feel any better. Over the last 5 years, if a BTC investor missed the 10 best trading days (per year), they would be down 25%. Considering the run up that BTC has had in 5 years, that's an incredible stat. My point is, most of the crypto profits come in the parabolic bull runs.

 

Absolutely true on holding but I need the cash to pay for my other fuk up. Every single rule of investing I ignored. 

This is my punishment.

 
Legend
Participation Meter
Joined: Nov, 2001
Posts: 59772
Posted: #207

Search - I feel for you and wish you nothing but the best and hope you find a path to a better situation.

Anyone who takes pleasure in other peoples pain has a special place in hell.

Support your local animal shelter. I am on twitter.
 
Veteran
Participation Meter
Joined: Nov, 2007
Posts: 4749
Posted: #208
Quote Originally Posted by searchwarrant:

 

Absolutely true on holding but I need the cash to pay for my other fuk up. Every single rule of investing I ignored. 

This is my punishment.



I'm really sorry to hear this. If you need the cash, then of course - you should sell. It sounds like you have no other choice. You'll get through this. Life has a way of working itself out. And remember, it's only money. You can always make more. Stay positive and hang in there.
 
Banned
Participation Meter
Joined: Feb, 2011
Posts: 27139
Posted: #209
GoldenGoose always shows up when crypto is down. What a sad individual this guy is. 

Crypto will go back up. 

 
Banned
Participation Meter
Joined: Feb, 2011
Posts: 27139
Posted: #210
Hey Kaufee, you have BTC and ETH or do you bounce around the other cryptos as well? 
 
Banned
Participation Meter
Joined: Feb, 2011
Posts: 27139
Posted: #211
If I was in Search’s shoes I would try to delay paying the bookie until LTC has some kind of a pump. It will within the next two weeks I think. And if it’s a good one (30-50%) id give the book a little extra for the delay. 
 
Legend
Participation Meter
Joined: May, 2003
Posts: 71023
Posted: #212

Thanks gentlemen. Good luck to you guys as well. peace_5

I'd guess a buy signal is in the works for all across the board but it may take some time. We'll see. Nice to at least have some heavier volume on the buy side, hell even both sides.

The sports betting when you're pressured is just doomed the moment you submit the wager. Something about scared money they say. 

 
Veteran
Participation Meter
Joined: Nov, 2007
Posts: 4749
Posted: #213
Search 

Detox, I’m currently only invested in BTC and ETH. But, that’s not to say I don’t like some of the alt coins. I really like a few of them in particular. They just carry more risk in what is already a risky asset class. 

As crypto currencies continue to evolve, I believe BTC and ETH will continue to lead the way. They have such a stranglehold on the overall market cap and as we talked about before, the rest of the market can’t even operate without them. 

However, due to pure exposure - anything on Coinbase will likely thrive. That’s one reason why I hope Search can hold his LTC. Litecoin is not only on CB, but also a great coin with a brilliant team behind it. It’s definitely going to bounce back with the market and I think it has a very bright future. 

To anyone reading this thread - I’m not a financial advisor and my posts in this thread are just my opinion. 

Best of luck to everyone and have a Happy Easter! 
 
Legend
Participation Meter
Joined: Jan, 2003
Posts: 32143
Posted: #214
Quote Originally Posted by I_Need_A_Detox:

GoldenGoose always shows up when crypto is down. What a sad individual this guy is. 

Crypto will go back up. 



I asked you how much you have invested in BTC and you did not respond.  Kaufee claims he "would rather not say".

You guys are both BS pretenders.

Since Detox's claim that BTC at $8.5K would "outperform" ANY MJ stock, BTC has tanked to $6.9K and $8,500 invested in Canopy Growth TWMJF is up $3 a share to $26.50, an $1,100 profit.

YOU ARE GETTING SQUASHED LIKE A BUG DETOX!!!!!

And KAUFEE would "rather not say"


BOTH of you pretenders are Jokers and Clowns

~~~~~ZOSO~~~~~
 
Banned
Participation Meter
Joined: Feb, 2011
Posts: 27139
Posted: #215
I currently have around $80,000 worth of crypto. I’ll tell you what, I feel so sorry for your wife that if you leave your BTC address in this thread I’ll send you $500 worth of BTC so you can take her to a nice steakhouse. 

 
Legend
Participation Meter
Joined: Jan, 2003
Posts: 32143
Posted: #216
Quote Originally Posted by I_Need_A_Detox:

I currently have around $80,000 worth of crypto. I’ll tell you what, I feel so sorry for your wife that if you leave your BTC address in this thread I’ll send you $500 worth of BTC so you can take her to a nice steakhouse. 



So, doing some quick Math, if you owned $80,000 worth of BTC at $8,500 that means you own 9.5 BitCoin.  This morning I'm seeing BTC at $6,750.  9.5 x $6,750 equals $64,125 which means you've lost $15,875.

If I were you I wouldn't be giving away $500 knucklehead.

You need all the $500 you can keep.  You'll be in line at the Soup Kitchen very soon.
~~~~~ZOSO~~~~~
 
Banned
Participation Meter
Joined: Feb, 2011
Posts: 27139
Posted: #217
I had a little over $80,000 when I made the post last night. I saw that it kept bouncing back at $7000 BTC and put around $40,000 into Tether. I know you don’t understand any of this because you have an IQ below room temperature... But you asked.

And let’s just say I lose all $80,000 (will never happen). My quality of life will not be effected one bit. I know you’re broke and you can’t imagine that but some people on this site really do have money to play with. So STFU, and go play blackjack at a $20 table like the peasant that you are. 

 
Legend
Participation Meter
Joined: Jan, 2003
Posts: 32143
Posted: #218


Oh, so you HAD $100,000 worth of BTC at $8,500, 11.7 BitCoin, and then it dropped 20% now to $6,750, bring your total down to $78,975, which means you ADMIT to losing ACTUALLY losing $21,025 instead of $15,875.

See?  You're even MORE of a fukking idiot than we all first realized.

STFU and stop digging you MORON!!!

Triple Roller. 


~~~~~ZOSO~~~~~
 
Veteran
Participation Meter
Joined: Nov, 2007
Posts: 4749
Posted: #219
Thanks for the kind words, Goose.

You’re being very short sighted in your analysis above. How do you know when detox bought in? He could be up 1000% for all you know. Most long term crypto investors are up significantly and for those that arent -  the current market will be back. Let’s revisit this thread in 12-24 months. 
 
Legend
Participation Meter
Joined: Jan, 2003
Posts: 32143
Posted: #220
Kaufee:  The only thing you've got going is that you a helluva lot smarter than detox, but believe me, that's not saying much.  It doesn't matter what detox "bought in" for because he still admits to giving back $21K..
~~~~~ZOSO~~~~~
 
Legend
Participation Meter
Joined: May, 2003
Posts: 71023
Posted: #221

My cost basis/avg on ltc starts at 10k at 325, 10k 251, 10k at 200. 3k at 198? I think that's right. I could look it up exactly but I'm in denial - there's more in there somewhere.

It'll come back but I won't be able to hold. That's my story. 

Worth sh!t now.

 

 

 
Legend
Participation Meter
Joined: Jan, 2003
Posts: 32143
Posted: #222


Detox QUOTE "put around $40,000 into Tether".

This BS just gets better and better!!!

Tether has been flat at $1 for at least a month.

Maybe he can sell at one of the $1.03 highs it's hit and sell for a $1,200 profit.  FANTASTIC!  The boy genius takes a $21K loss on BTC then moves onto Tether which MIGHT make a $1,200 profit depending on which way the wind blows.
~~~~~ZOSO~~~~~
 
Banned
Participation Meter
Joined: Feb, 2011
Posts: 27139
Posted: #223
“Tether has been flat at $1 for at least a month.” 

 
Legend
Participation Meter
Joined: Jan, 2003
Posts: 32143
Posted: #224

The liar has been exposed.  My work is done here.

The next time you lie Detox at least TRY to be a good liar!!!

   Blithering Idiot.


~~~~~ZOSO~~~~~
 
 
Legend
Participation Meter
Joined: Nov, 2001
Posts: 59772
Posted: #225

Goose - might want to study up on what Tether is.

https://cryptocurrencyfacts.com/what-is-tether/

peace_5

Support your local animal shelter. I am on twitter.
All Forums | General Discussion
About Us
Contact Us
Careers
Our Team
Brand
Testimonials
Betting Guides
Sportsbook Reviews
Sports Betting News
Podcasts
Responsible Gaming
Sports Betting
US Betting Sites
Canada Betting Sites
Canada Casinos
Best Betting Apps
Contests
Streak Survivor
King of Covers
Ultimate Race
Office Pools
The Covers community has
618,670
lifetime members worldwide
Covers 25 Years Logo Established in 1995,
Covers is the world
leader in sports
betting information.
Site Map Help Privacy Terms of Service youtube logo facebook logo twitter logo instagram logo linkedin logo google news logo
Covers is verified safe by: Evalon Logo GPWA Logo GDPR Logo GeoTrust Logo Evalon Logo
Copyright © 1995 - 2024 CS Media Limited All Rights Reserved.

If you choose to make use of any information on this website including online sports betting services from any websites that may be featured on this website, we strongly recommend that you carefully check your local laws before doing so.It is your sole responsibility to understand your local laws and observe them strictly.Covers does not provide any advice or guidance as to the legality of online sports betting or other online gambling activities within your jurisdiction and you are responsible for complying with laws that are applicable to you in your relevant locality.Covers disclaims all liability associated with your use of this website and use of any information contained on it.As a condition of using this website, you agree to hold the owner of this website harmless from any claims arising from your use of any services on any third party website that may be featured by Covers.