Anyone here day trade Cryptocurrency?
- Thread starter BlockInlay
- Start date
smorgdonkey
Kick Henry Jackassowski
I don't know who Potter is but it is a good time to buy IMO. Nobody really knows if things will go lower. Many 'experts' say that they will but...
smorgdonkey
Kick Henry Jackassowski
But a real financial planner would say "put in X per week" so that if it goes down more, you get it at a lower cost thereby lowering your average price per unit (DCA = dollar cost averaging).
The tough part, as if that isn't tough enough, is to set your target price and sell X when it hits that target...and sell X each week thereafter. There are varying strategies at this point.
Be steady, be patient, be responsible.
Bob411
thrumming with potential
From the movie It's A Wonderful Life. Potter offers savings and loan shareholders "don't remember exact amount" .01? .50? per dollar.
DinoMikeSr
I have the box
Fed making another announcement today at 2pm aren’t they?
smorgdonkey
Kick Henry Jackassowski
Oh ok...are there any private savings/loan/banks in the USA anymore? I don't think Canada has any...maybe Credit Unions are hybrid(?).
Bob411
thrumming with potential
We have private banks in the sticks where I live.
Can't think of any places that call themselves saving and loan. Maybe credit unions are what S&Ls became?
IIRC, "Savings & Loan" was a method to bypass banking laws in the 60 and 70s. By calling yourself a "Savings & Loan", you weren't subject to restrictions on how leveraged you were, and your customers' money wasn't federally insured.
People loved them at first because they paid higher interest than banks. Unfortunately, S&L's execs started making riskier and riskier investments and many of them folded with their customers watching their life's savings evaporate. Most of the remaining S&Ls went under as their customers yanked their money out. The government stepped in and made S&Ls subject to the same restrictions as banks.
smorgdonkey
Kick Henry Jackassowski
Interesting...yet with those restrictions, the banks still allowed $16 000 per year strawberry pickers to get a mortgages on a $300 000 homes back in 2007 and before that, because they were making money hand over fist allowing anyone to finance things that should have been out of reach.
And then the gub'ment bailed out the banks (with the people's money) in an effort to increase liquidity (for the people) but the banks said "thank you very much, we'll use it for white collar bonuses" and let the people pay it back for decades (or never).
AND THAT, ladies and gentlemen, is why some dude (or group of dudes and dudettes) invented BitCoin. The idea being a decentralized currency that the banks don't control and can't F the people on.
DdBob
Dogue in teh desert
wasn't it also invented so dudes and dudettes could purchase human body parts, fentanyl, child porn, assault weapons parts, slaves, murder for hire,etc on the dark web? It's running like two parallel original purposes.
BlockInlay
Octavate.band
these dumb ass posts are really getting tedious
DdBob
Dogue in teh desert
you know it's true though. Biytcoin thrives at the illegal. The darkwebs choiuce of currency
Cash thrives at the illegal as well. Every tool has the potential for good or evil. The more powerful the tool, the greater value it has. Unfortunately, the very things that make bitcoin valuable for legitimate use make it valuable for criminal use. So as to cash. So as to fire. So as to every tool humans have invented.
DdBob
Dogue in teh desert
The thing is though if you're on the inter webs and you buy say a human skull though the darkweb yer probably not gonna send cash with Zelle or PayPal. Bitcoin on the otherhand is a whole lot more cryptic and therefore your best bet.
BlockInlay
Octavate.band
yeah and cash isn’t used for illegal activity?
Thrives on illegal activity? Give me some evidence to back up that it thrives on illegal activity.
BlockInlay
Octavate.band
Go play your guitar and stop trolling Bob.
DdBob
Dogue in teh desert
not trolling.
you can Google anything to back up a statement on the webs these days ....so with that said here is one on my side and I assume you will soon post one which backs up your side...Sorry i don't have any personal proof since I myself have never been on the dartkweb so I only have "what i hear" to go on...like yourself, that is unless you have been on the darkweb?
https://www.engadget.com/doj-seizes-34-million-of-crypto-from-the-dark-web-seller-215005062.html
In what the DOJ calls one of the largest cryptocurrency civil forfeiture filings in US history, the Southern District of Florida has successfully seized around $34 million worth of coins and tokens from a seller on the dark web.
According to a recent release, the illicit crypto was seized from a South Florida resident who used an online alias to sell more than 100,000 illicit items across marketplaces on the dark web. The bulk of the sales is said to be hacked account info from a number of major services including HBO, Netflix, Uber and others.
Prosecutors from the Southern District of Florida say the resident used TOR (The Onion Router) to access the dark web, before using a series of tumblers to convert one cryptocurrency to another in order to hide its source. This series of actions is often called chain hopping and is considered a form of money laundering, which obviously a big no-no at both the federal and state levels.
Chicken Man
Kick Henry Jackassowski
DdBob hasn't played guitar in years. And apparently the underworld routinely uses Tide detergent as currency, so this angle is kinda moot.
And if you go down to the corner and buy heroin you are going to use cash. What's your point? Why is bitcoin any more evil than cash?