Wow. Bitcoin is almost $1,500

Page 114 - Seeking answers? Join the AnandTech community: where nearly half-a-million members share solutions and discuss the latest tech.

ultimatebob

Lifer
Jul 1, 2001
25,135
2,431
126
Yeah... having a diversified cryptocurrency portfolio doesn't really seem to help. When Bitcoin goes down, they ALL go down with it by roughly the same amount:

1624035249041.png
 
  • Wow
Reactions: Fritzo

Fritzo

Lifer
Jan 3, 2001
41,677
1,850
126
Yeah... having a diversified cryptocurrency portfolio doesn't really seem to help. When Bitcoin goes down, they ALL go down with it by roughly the same amount:

View attachment 45934
Yeah, the entire market his been down 30-40% for a month. Elon calling crypto a hustle on TV didn't help things. Sick of people on Reddit saying "It's on sale!" When something is down 40% and it dips to 45%, it's not a sale, IT'S WORSE.
 

DrMrLordX

Lifer
Apr 27, 2000
19,686
8,544
136
Sick of people on Reddit saying "It's on sale!" When something is down 40% and it dips to 45%, it's not a sale, IT'S WORSE.
If you're doing DCA, slow steady declines aren't bad. If you're trying to buy the bottom then yeah, it sucks.
 

Roger Wilco

Platinum Member
Mar 20, 2017
2,697
3,425
136
Coinbase will soon be offering 4% APY on any balance of USDC.

That’s a garbage return compared to other CeFi options, but I suppose it’s less risky…I guess.
 

VirtualLarry

No Lifer
Aug 25, 2001
53,782
8,019
126
Whoa, Bitcoin creeping slowly downwards towards $30,000 USD. C'mon man, wake up! Is this some sort of slowly-creeping bear market? I thought that this was supposed to just be a "dip". Not that I'm invested.
 

DrMrLordX

Lifer
Apr 27, 2000
19,686
8,544
136
Should I buy now or wait until it goes to $1,500? :p
If you really want to buy BTC, I would wait 'til $12-$14k or so. You might not hit the bottom but that should be close to it. What's unclear is how many times BTC will rebound. Eventually someone is going to wake up and realize that BTC isn't really good for anything, even by blockchain tech standards. It's too slow and cumbersome. But it continues to trade well based on name recognition and sheer inertia. Ethereum fans have been waiting for "the flippening" for ages, and it hasn't happened yet.
 

Charmonium

Diamond Member
May 15, 2015
6,780
780
126
Repeat after me - use case, use case, use case. This is the ONLY thing that matters because it is the only thing that will create demand for any type of currency - crypto or otherwise.

Now if someone ever comes up with a truly untraceable coin, I'll revise that but as best as I can tell, the only way to make a blockchain coin untraceable is to send it through a couple mixers.
 

DrMrLordX

Lifer
Apr 27, 2000
19,686
8,544
136
Now if someone ever comes up with a truly untraceable coin, I'll revise that but as best as I can tell, the only way to make a blockchain coin untraceable is to send it through a couple mixers.
XMR is very good at being untraceable. But if you buy XMR on an exchange, they can trace that. If you mine it out, they can't (necessarily).
 
  • Like
Reactions: Charmonium

ASK THE COMMUNITY