Crypto Meltdown

I was about to stock up on ETH a couple weeks ago, but decided to wait. It's plunged over 30% since then. If it goes below 1,000,000 won I might pull the trigger and hope for a long-term payoff.

Thoughts on the current state and future of crypto?

Yep, good time to get in if you can.  If you have it stored offshore on a non Korean site and have a way to buy some, get some.  Even if it goes down.  COINSMART works for a Canadian with a Canadian bank account as a reminder.  You can also do wallet to wallet transfers of the same crypto to other sites to buy other currencies (since COINSMART has limited cryptos).  I use FTX personally. 

People can't buy crypto in Korea?

Koreans can. Foreigners can't. Which sucks for waygooks hoping to profit off a dead cat bounce.

... a dead cat bounce.

Lol...please enlighten me!

Yep, good time to get in if you can.

This advice has aged well. It only dropped 30% or so since you wrote this less than 2 weeks ago:

Ride the XRP and XRPBULL coins till the rodeo is done.  Mostly XRP.  All crypto way down, best to get in before a large spike.


That's my advice....

No, scratch that. I only looked at BTC. That XRPBULL(crap) doesn't even worth half of what it was in early June.

Koreans can. Foreigners can't. Which sucks for waygooks hoping to profit off a dead cat bounce.

It's not possible to find an american brokerage and pay via Paypal?

This advice has aged well. It only dropped 30% or so since you wrote this less than 2 weeks ago:
No, scratch that. I only looked at BTC. That XRPBULL(crap) doesn't even worth half of what it was in early June.

He's taking the double down approach. We know he's a man of considerable financial success, so I think he's worth listening to.

Lol...please enlighten me!

Trading in bouncing dead cats is still safer than Crypto.

Fortune favors the brave.

If you've heard of the coin, it's too late to get in.

You're the mug/mark.

Trading in bouncing dead cats is still safer than Crypto.

That's very amusing.

Fortune favors the brave.

If you've heard of the coin, it's too late to get in.

You're the mug/mark.

Okay, thanks. I thought it was an expression made up by LI. I looked it up after seeing your 3 differing meanings. Got it!

It's following the same pattern it's done like 5 times since btc started some 10+ years ago. It's going back to it's old high, which is $10,000. It will scare a lot of people as usual. If the pattern holds it will shoot up to a new high, which is usually more than double it's old high like $120,000.

The added variable of institutional holders whose orders will be triggered at these sub $20,000 will make it interesting.

That's very amusing.

Okay, thanks. I thought it was an expression made up by LI. I looked it up after seeing your 3 differing meanings. Got it!

i was quoting the matt damon commercial for crypto.

Koreans can. Foreigners can't. Which sucks for waygooks hoping to profit off a dead cat bounce.

Nope.  We could until late last year.  Korea shows it's true colors yet again. 

This advice has aged well. It only dropped 30% or so since you wrote this less than 2 weeks ago:
No, scratch that. I only looked at BTC. That XRPBULL(crap) doesn't even worth half of what it was in early June.

You don't buy when going up, you buy when going down.  A bull coin rides the hype of a rise in the regular coin.  Once the cryptos go up especially if they go to new levels, hype drives those up even more.  Having a small amount (dollar present values) as a hedge is helpful.  Like maybe 30 bucks or so.  I'd do the xrp and btc bull coins while having some in the regular.  But once those soar cash them out and buy more regular coins and also cash some out and wire transfer it to your home bank account too. 


https://ftx.com/intl/tokens/xrpbull


BTC bull has fallen but the coin is more expensive to buy.

https://ftx.com/tokens/bull

BTC will go up to a higher dollar value but which coins will have a higher percentage increase?  XRP is one and many others too.

Which coins were higher during the mini surge last year?  Which of those are way down now?  If I had the cash, I'd look at Etherium, Yearn Finance, etc.  (But better to focus on a few rather than many.)

Look at the one year and 5 year history line.  I notice when the regular coins went to new heights, the bull coin soared even higher for a short time.  Will it do so again or will it just conk out?  Hard to say.  Don't put your life's savings into them or anything.  Just 10 or 20 or 30 bucks or something while prices are down and hold for now.  Mostly focus on regular coin if you have more money to throw in. 

I use a couple of exchanges.  FTX is one of them.  I fund via another exchange. 

Nope.  We could until late last year.  Korea shows it's true colors yet again. 

As mentioned before, I can't imagine why a country that went through the IMF is leery of having substantial amounts of foreign speculation of a non-government backed currency that is prone to wild fluctuations and under control of the central reserve...

It isn't always racism. Preventing say, an economic shock which could lead to wide unemployment and affecting national credit ratings is a legitimate reason for doing things and "RACISM!!!!!" isn't always the explanation. You're thinking about this like a child.

As mentioned before, I can't imagine why a country that went through the IMF is leery of having substantial amounts of foreign speculation of a non-government backed currency that is prone to wild fluctuations and under control of the central reserve...

It isn't always racism. Preventing say, an economic shock which could lead to wide unemployment and affecting national credit ratings is a legitimate reason for doing things and "RACISM!!!!!" isn't always the explanation. You're thinking about this like a child.

You used great restraint in that last sentence.

You don't buy when going up, you buy when going down.  A bull coin rides the hype of a rise in the regular coin.  Once the cryptos go up especially if they go to new levels, hype drives those up even more.  Having a small amount (dollar present values) as a hedge is helpful.  Like maybe 30 bucks or so.  I'd do the xrp and btc bull coins while having some in the regular.  But once those soar cash them out and buy more regular coins and also cash some out and wire transfer it to your home bank account too. 


https://ftx.com/intl/tokens/xrpbull


BTC bull has fallen but the coin is more expensive to buy.

https://ftx.com/tokens/bull

BTC will go up to a higher dollar value but which coins will have a higher percentage increase?  XRP is one and many others too.

Which coins were higher during the mini surge last year?  Which of those are way down now?  If I had the cash, I'd look at Etherium, Yearn Finance, etc.  (But better to focus on a few rather than many.)

Look at the one year and 5 year history line.  I notice when the regular coins went to new heights, the bull coin soared even higher for a short time.  Will it do so again or will it just conk out?  Hard to say.  Don't put your life's savings into them or anything.  Just 10 or 20 or 30 bucks or something while prices are down and hold for now.  Mostly focus on regular coin if you have more money to throw in. 

I use a couple of exchanges.  FTX is one of them.  I fund via another exchange. 

If you put 20-30 bucks into it, you might as well not bother at all. I mean even if it goes up 1000%, that's peanuts.

If you put 20-30 bucks into it, you might as well not bother at all. I mean even if it goes up 1000%, that's peanuts.

I mean the bullcoins.  The others need more of course.  But yes, unless it goes up by 1 million per cent a small amount of money will not add up to much.  But given current salaries, I doubt most teachers can afford to put much into it anymore anyways.  But hedge a tiny amount on the bull coins based off the cryptos you think will rise the most.  XRP, BTC, ETH, etc.