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Topic: Sold half GBTC (Read 105 times) previous topic - next topic

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  • Erich 
  • [*][*][*][*]
Sold half GBTC
+ 130% made some money. Holding the other half at zero cost. In a no lose situation now.  ER
I will be buying select miners with both hands soon enough.
GLTA ER

  • Nikko
  • [*][*][*][*][*]
Re: Sold half GBTC
Reply #1
way to go Eric! congrats

Re: Sold half GBTC
Reply #2
This is not my thought, it comes from another message board. If we get a sever down turn in the major markets, margin calls will be made and folks are likely to sell Crypto shares. I believe this is correct. First the margined stocks are likely to be late entry holders so they may be selling at a loss; the loss can be offset gains in crypto shares. The crypto shares might start falling like a rock and holders may start having second thoughts about holding them.

  • Erich 
  • [*][*][*][*]
Re: Sold half GBTC
Reply #3
Yes the cascade effect. I watched a $3000 down move in 6 hours last night. Recovering some now.
Looks like I got lucky selling when I did. Way to much hot money coming in now. I am amazed at the speed of
awareness of bit coin. I was doing informal surveys less than 2 months ago and most had either never heard of BTC
or vaguely knew what it was. Now KITCO has a ticker for it and its on the news every night.  I am going to wait and see how
the futures market plays out this week. Should be a wild ride. Worldwide 24/7 trading is also making it extremely volatile.
As usual the masses will lose and the few will win.
ER

Re: Sold half GBTC
Reply #4
One of my bitcoin concerns comes to pass, hack was mentioned on Fox business and here is a link to an article

http://www.zerohedge.com/news/2017-12-06/largest-crypto-mining-exchange-confirms-it-was-hacked-over-50-million-bitcoin-stolen

  • Nikko
  • [*][*][*][*][*]
Re: Sold half GBTC
Reply #5
http://www.zerohedge.com/news/2017-12-08/bulgaria-government-shocked-discover-it-owns-3-billion-bitcoin
I was reading that 1000 holders hold about 40% of the entire market. I don't know when the collapse happens but this is clearly the biggest ponzi scheme of all time.
Was reading about Etherium...it was a 20 year old Russian that created it...this is not a business, has zero cash flow, and people piling on while the early birds keep saying its going to 100k.
And idiots like Max Keiser ( I met him in Moscow and YES, he is as annoying as he sounds ) are pumping it to the sheep. Remember Keiser was the one saying silver to 200 and we must Bankrupt JP Morgan by buying at 40 bucks ( great call Max! )

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: Sold half GBTC
Reply #6
http://www.zerohedge.com/news/2017-12-08/bulgaria-government-shocked-discover-it-owns-3-billion-bitcoin
I was reading that 1000 holders hold about 40% of the entire market. I don't know when the collapse happens but this is clearly the biggest ponzi scheme of all time.
Was reading about Etherium...it was a 20 year old Russian that created it...this is not a business, has zero cash flow, and people piling on while the early birds keep saying its going to 100k.
And idiots like Max Keiser ( I met him in Moscow and YES, he is as annoying as he sounds ) are pumping it to the sheep. Remember Keiser was the one saying silver to 200 and we must Bankrupt JP Morgan by buying at 40 bucks ( great call Max! )
I'm not sure which coin will go and stay mainstream and hold a stable value. I'm not sure if this is even viable. Next week will be interesting to watch. Will bitcoin crash???

  • Erich 
  • [*][*][*][*]
Re: Sold half GBTC
Reply #7
http://www.zerohedge.com/news/2017-12-08/bulgaria-government-shocked-discover-it-owns-3-billion-bitcoin
I was reading that 1000 holders hold about 40% of the entire market. I don't know when the collapse happens but this is clearly the biggest ponzi scheme of all time.
Was reading about Etherium...it was a 20 year old Russian that created it...this is not a business, has zero cash flow, and people piling on while the early birds keep saying its going to 100k.
And idiots like Max Keiser ( I met him in Moscow and YES, he is as annoying as he sounds ) are pumping it to the sheep. Remember Keiser was the one saying silver to 200 and we must Bankrupt JP Morgan by buying at 40 bucks ( great call Max! )

  If this is true that means that there are only 8 or 9 million available trading shares less the lost coins. It also means it would be extremely easy to drop the entire market down to its knees in a day.  Can you imagine A million coin holder selling a futures contract than dumping his shares on the open market. Not a law against it either. It should be a crazy week.  Futures trading starts tomorrow. If the price of BTC is higher in one week I say it continues up. Way up.  ER

  • Erich 
  • [*][*][*][*]
Re: Sold half GBTC
Reply #8
One of my bitcoin concerns comes to pass, hack was mentioned on Fox business and here is a link to an article

http://www.zerohedge.com/news/2017-12-06/largest-crypto-mining-exchange-confirms-it-was-hacked-over-50-million-bitcoin-stolen
That's child's play in 2014 the MT GOX exchange was hacked for 650,000 coins. todays value 9 BILLION DOLLARS 

Re: Sold half GBTC
Reply #9
A warning on bitcoin is linked. Personally, I cannot participate as I cannot do any better than guess the direction. If options were available so risk could be defined, I might participate.

https://www.clivemaund.com/article.php?id=4432

  • Erich 
  • [*][*][*][*]
Re: Sold half GBTC
Reply #10
Yes that is what I call a flying without a net chart. With that being said these type of articles have been written at BTC $1
$100 $1000 $10000 $15000 etc. all have been wrong. It has corrected 7 times 50 % or more and it is long over due for another. Each and every time it has rebounded to new highs. Will this time be different? Who knows. The recent futures market failed to do much of anything since it is cash settled only. They lost 80% of their volume yesterday trading only 7.5 mil worth of contracts. I have made money on my GBTC and  am playing with house money now.  ER

  • Nikko
  • [*][*][*][*][*]
Re: Sold half GBTC
Reply #11
just had lunch with a guy who personally knows the creator of Ethereum...these guys all understand its a ponzi scheme. gonna end in tears...His dad literally saw bitcoin was working so told his son to create a different code....and BAMM...simple as that

  • Erich 
  • [*][*][*][*]
Re: Sold half GBTC
Reply #12
just had lunch with a guy who personally knows the creator of Ethereum...these guys all understand its a ponzi scheme. gonna end in tears...His dad literally saw bitcoin was working so told his son to create a different code....and BAMM...simple as that
I cant even begin to think how wealthy he is. Ethereum has doubled this month.

  • Erich 
  • [*][*][*][*]
Re: Sold half GBTC
Reply #13
Interesting Kid age 23 unknown true net worth 250 Million minimum
http://fortune.com/40-under-40/vitalik-buterin-10/

  • Nikko
  • [*][*][*][*][*]
Re: Sold half GBTC
Reply #14
the thing is Bitcoin and Ethereum create zero value...they have no revenues...unlike google or Facebook as an example...those companies actually make money and the inventors created real cash flow generating companies through great ideas. Ethereum was simply a copy of bitcoin as they saw people were actually willing to pay something for nothing.