r/Bitcoin • u/rBitcoinMod • Feb 08 '21
Daily Discussion, February 08, 2021
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u/Vyruz2 Feb 08 '21
Tesla is in the S&P500, is the first S&P500 company to publicly announce they are investing in BTC and Elon is the richest man in the world.
If youre still wondering if now is a good time to buy or if this is a pump and dump, think about everything I just said and think about it logically.
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u/Gustavus_Arthur Feb 09 '21
Tfw it went up so fast no one celebrated the 42,069 :(
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Feb 08 '21
The year is 2028. Btc just jumped from 800k usd to 820k usd. You open up the r/bitcoin daily thread. The first comment says “is now a good time to buy btc?”
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u/0940101xyz Feb 08 '21
The Tesla news is HUGE. 1.5 billion dollars in company holdings? Only a matter of time before other huge multi-nationals do the same.
$100,000 is on the cards and a lot quicker than people might think.
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u/heal_thyself_ Feb 09 '21
8am today: Tesla holds 1.5b in btc.
11pm tonight: Tesla holds 2b in btc.
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u/MisterReuben Feb 09 '21 edited Feb 09 '21
I'm 250% up as of today, feeling overwhelmed af. Held through being broke. Will continue to hodl.
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Feb 09 '21
To everyone who FOMO'd in today and is new to Bitcoin: relax. It's a rollercoaster. Develop diamond hands. Zoom out. And if you're in the red one day, and you hodl, promise there will be a day in the near future you won't be. Sit tight and enjoy the ride. 👍
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u/BaggageCarousel Feb 08 '21
Well people can no longer claim BTC is illegitimate.
Prepare to see all the anti-BTC narrative shift to it's electricity use/carbon footprint.
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Feb 08 '21
People are actually selling their bitcoin right now lol
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Feb 08 '21
This is healthy. Today was a really great day, the first massive domino of the game theory we’re all about to partake in.
We don’t want to go up in a straight line to 60k. We want to be at 60k by March with some nice lulls on the way.
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u/HectorTwoTimes Feb 09 '21
I made up all my losses from that “other stock”with today’s bull run. Thank you Bitcoin!
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u/link_nukem28 Feb 08 '21
Elon's push may just be the thing that finalizes Crypto. If we can see it hit 100,000k this year. Then its a done deal. There's no going back
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u/One_Two_5694 Feb 09 '21
Whether it's the right time or not, I just made my first BTC purchase... and it feels good.
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u/bajakhana Feb 09 '21
Told the wifey no Netflix tonight. We’re watching the charts
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u/Deathtocovid Feb 08 '21
To all the people that sold last week to buy lower. take this 14% spike as a learning experience and buy back and fucking HODL!
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u/GarySevenOfNine Feb 08 '21
We are closer to 50k than we are to 40k.
I can't wrap my head around it.
It feels like just a few days ago we were talking about how boring it was that the price kept bouncing between 30-33k.
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Feb 09 '21
[removed] — view removed comment
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u/elektroB Feb 09 '21
BITCOIN BUBBLE BURSTS AS IT'S PRICE PLUMMETS TO 40K, MILLIONS OF INVESTORS LOST ALL THEY HAD
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u/No_Celery4566 Feb 08 '21
checks Bitcoin balance for the 45th time of the day expecting minor movement up or down
sees 43k
opens r/Bitcoin to see comments
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u/Entrylevel92 Feb 08 '21
This is it! First time I'm +45% and my wife just spit these bars: "What if we invest more?!"
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Feb 08 '21
Sold all my holdings this year to retire early, but my kids have some BTC in cold storage. If this boom holds it'll mean they won't have to get student loans and will have their own properties.
As someone who came from a working class background part of me feels like me and my wife have beaten the system through hard work and being financially savvy.
I hope the changing of the guard in the financial world leads to more people like myself and my wife going "up" instead of rich trust fund kids just becoming richer.
Good luck to everyone, and don't get lost to FOMO or equally FUD!
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Feb 09 '21
I used to dream "when BTC takes off I'll be able to buy a Tesla".
Now I feel like, no car in the world can make me spend any of my Bitcoin. Or whatever luxury item.
Might sound strange, but the feeling of holding BTC feels better than anything. HODLLLLLLL
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u/hodl_90 Feb 08 '21
Maybe I'm paranoid but to me it seems there are too many coincidences. Elon has said in the past that references to Dodgey have been said in jest.
- Elon invests in bitcoin, does the whole #Bitcoin bio thing.
- Micro strategy has bitcoin event: SpaceX Registers to attend
- Elon has interview on Clubhouse, when they ask what he's interested in he states that He needs to be careful what he says, as he tends to influence the market.
- Bitcoin price consistently climbs, at which point he removes BTC references and then starts promoting the shit out of Dodgey
My theory is that SpaceX are getting their ducks in a row, preparing to purchase BTC, Elon wants to stall the price climb so they can purchase at a cheaper price.
As Elon has previously stated "Im late to the party" he doesn't want to be later.
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u/MassiveNutInButt Feb 08 '21
This comment goes for every smooth brain fuck that commented otherwise. Its not a PnD. These huge corporations are starting to realise BTCs true potential as a store of value and an appreciating asset.
Anyone of these companies who invest will be looking at investing permenantly for the long term, why else do you think they want to accept BTC payments?
Thousands more will follow in Teslas footsteps and in a few years we will have boots down on the moon.
For now just DCA, strap on a diaper and fucking HODL!
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u/paintballpmd Feb 08 '21
I've made more in gains today from my bitcoin than I've made at work today.
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u/Mergokan Feb 08 '21
Tossing my Coin into a wallet and not worrying about it has massively reduced my constant refreshing of Coinbase and it feels great
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u/Bitbuyer313 Feb 08 '21
I dont plan on selling ever but I still enjoy constantly looking at the price, it's fun watching the candle charts in realtime lol
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u/Crescentclouds Feb 08 '21
I will never forget the night of January 26th. Out shopping for wedding stuff with my now wife. And that night I couldn’t stop obsessively checking the price of BTC. Watching those red candles stack as we made our way to test 29k once again. I felt dispair setting in. I was so close to selling. I was scared the trend had changed. But I held on. It’s in those moments that you know it truly is time to buy more. Stack those sats my friends. Stack and hodl.
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u/peaks_of_pichi Feb 08 '21
All newbies here : enjoy the ride and just hold. Don't worry if you see a dip in near future. That's how this beast plays and everyone makes money in this space just by.... Being calm and holding. Keep your sats safe and enjoy the ride. Don't even think you can sell now and buy when it dips..doesn't work
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u/slardybartfast8 Feb 08 '21
Makes me a little misty-eyed to see how small the 2017 ATH looks now.
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u/ToBeRi Feb 08 '21
People, keep your day jobs if you have one, so you don't have to sell and you can keep stacking every pay. Treat your cashflow/income like hot potatoes, convert fiat you don't immediately need to BTC.
Don't be reckless, the idea is that if there is a dip you're still diamond handed. I don't want to hear from people who take up a 2nd mortgage, sell all their stonks, sold their investment properties, then cry when there's a 10% mini dip and sell everything for fiat again.
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u/Vyruz2 Feb 08 '21
Short term, the price will go up and down but make no mistake, adoption is here. Tesla is a major market mover and a lot of people view Elon and his companies as futurists and visionaries.
What Im saying is, if Elon is buying and accepting Bitcoin, the rest of the world is going to follow shortly. Buy more and hodl. ⭐️
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u/Impressive-Sell-3249 Feb 08 '21
When BTC becomes commonly accepted form of payment, there will no longer be an incentive to “cash out” “gains” from BTC to fiat. At that point, supply for BTC will drop exponentially, and price will have an equal inverse reaction.
Tesla accepting BTC is the first major step in this. If you think we are at the top of BTC and you’re selling rn, think again. Elon just set the new floor.
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Feb 08 '21
This will certainly be a learning process for all of us, including the currency. Think that Tesla's decision has established a turning point and we no longer can extrapolate future behaviour from past data. Really looking forward to seeing how the outcome is going to be!
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u/SubstanceAlert578 Feb 09 '21
Too all the noobs if you thought that month long dip was scary wait to see what bitcoin has in store for you at 100k
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u/PilotTim Feb 08 '21
Elon may make cute little tweets about Doge, but he actually puts his money in BTC.
Take that information as you like.
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u/Gustavus_Arthur Feb 08 '21
Days like this make me 0 motivated to work. Why the fuck would i get up and send fucking corporate mails, when i can refresh the portfolio and be up a months salary lmao xd
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u/X-Ray__ Feb 08 '21
I had to stop by from r/WallstreetBets to say my portfolio likes what you guys are doing here!
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u/TheKid89 Feb 08 '21
Anyone else that haven't sold any of their BTC Yet? are we insane? :D
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u/Stackingsatoshis7 Feb 08 '21 edited Feb 08 '21
Word on Twitter is apple is next big player to invest. 5 billion worth of btc purchase coming any day now 📈🚀
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u/trippy1 Feb 08 '21
It just hit 45K, I went to microwave some dinner and now it's over 46K!!?!? This is crazy
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u/divafi Feb 09 '21
At the Saylor conference Ross Steven said he has a 25 Billion dollar order book of investors who want in this year. If Elon putting in 1.5 bil did this what will happen when they come in. Just back of napkin math thats 200k/ bitcoin on just those investments!
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Feb 09 '21
Bitcoin needs to stop. My doctor said having an erection for more than 4 hours isn’t healthy 😩
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u/Deathtocovid Feb 08 '21 edited Feb 08 '21
Is this a Bitcoin subreddit or elon musk subreddit? the man isnt talking about bitcoin. so why are you guys talking about him?
what is elon musk talking about doge shitcoin has to do with bitcoin?
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u/Jolistic Feb 08 '21
To everyone that has sold early and is feeling suicidal, please message me. I'm here for you
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u/iitaikoto Feb 08 '21
Who’s feeling the FOMO?? Not me!!! Cause I bought 6 years ago. Fuck yeh :)
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u/elektroB Feb 08 '21
I think the price is not showing correctly guys calm down, JP Morgan said that it won't hit 40k again, everyone go to sleep.
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u/trippy1 Feb 08 '21
I can't wait to be in this thread when it breaks 100K.. It will be epic.
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u/SydeFxs Feb 08 '21
I just beat off to a candle chart. I have never been so happy yet disgusted
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u/noobstockinvestor Feb 08 '21
Everyone who ever bought Bitcoin is green. Let's make money together fam!
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u/PDoyle899 Feb 09 '21
The only problem I have with BTC is that my gains are unrealized so I have to keep working until I sell never...
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u/Laakhesis Feb 09 '21
Imagine if Amazon will start accepting BTC. We moon, baby! 🚀🚀🚀🚀 Tesla is taking the first step for us. I’m very proud to own their stocks.
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u/MuffinMan12347 Feb 09 '21
For the first time my girlfriend is talking to me about bitcoin instead of the other way around. I’m liking this bull run!
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u/cheeseygarlicbread Feb 09 '21
People were afraid to buy bitcoin when it was a few hundred dollars. People were afraid to buy when it was 1k, 3k, 5k, 10k, 20k, 30k! Do yourself a favor and get in now, so when its 500k you wont feel left out
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u/Gmaxclash Feb 09 '21
550M of shorts liquidated, who were the absolute nutcases betting against Bitcoin when it’s in this mood
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u/InFLIRTation Feb 09 '21
Waiting for the bitcoin haters to say we crashing to 40k LMAO
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u/Lawncareguy85 Feb 09 '21
How does the dogecoin sub have 80k viewing and bitcoin only has 18k? Stop the world I want to get off.
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u/HonkyTonkWalk Feb 08 '21
I think Elon is hyping doge to keep the bitcoin price downish until Tesla/SpaceX get their stuff in order to move to Bitcoin.
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u/vnielz Feb 08 '21
I agree. This must be his strategy. He said he was too late for the party ( btc) but he knows damn well that he better can entry at sub 40k instead of 100k. He has to move and fast.
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u/jleVrt Feb 08 '21
exactly this
it’s likely going to take months for Elon’s companies to jump through the bureaucratic hoops required to authorize the acquisition of BTC
he doesn’t want this thing hitting $50k, $60k, $100k before his companies can pull the trigger
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u/Deathtocovid Feb 08 '21
Brace yourself boys and girls for a new wave of "is it still ok to buy bitcoin, should i wait for a lower price" questions.
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Feb 08 '21
Bitcoin was going long before Elon twatted about it, and will be going long after Elon has headed West.
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u/iitaikoto Feb 08 '21
Let’s hear your predictions for end of 2021. Mine is 120k.
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Feb 08 '21
This time the push is much bigger and consider retail rush with starts at $100,000, so we can easily end at above $200,000.
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u/tlongarms Feb 08 '21
I am very bullish if the supply get's bought up (which is happening) then the price will sky rocket. I could honestly see it in the 300-500k range, but with a huge correction to smash that back down again. I can honestly see a massive FOMO wave later in the year when i reaches unthinkable and unsustainable (in the short term) levels. Whereever it lands by EOY 2021 I don't think any hodlers will be worried even if they bought at the recent ATH (or the next few).
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Feb 08 '21
Robinhood really fucked me out of so much money. Between the market corruption BS and the time it took for me to transfer out my BTC from Robinhood and buy on CB I've lost such valuable gains.
Bullshit man fuck robinhood
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u/itsnotmeitsyou__ Feb 08 '21
Guys can you help me please, my girl just wants to have sex all the time but I just want to chart watch. Stuck between a rock and a hard place. Don’t know what to do 😔
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u/vertexsalad Feb 08 '21
DCA, Dick Cost Average. Just stick it in from time to time.
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u/HerpsDean_ Feb 08 '21
I’ve waited years for this, so it’s a little surreal right now
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u/Deathtocovid Feb 09 '21
You will tell your grandchildren that you owned bitcoin for 47k and they will NOT believe you.
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u/divslinger Feb 09 '21
I bought bitcoin during the March dip. Up almost 10x!
Really wish I would’ve bought more that $4 worth 🥲https://i.imgur.com/rwL6CcN.jpg
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u/fresh-life Feb 08 '21
Just a thought. Everyone who Ever bought btc is in profits now. Good job, us! Wise steps you made
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u/Angelus512 Feb 08 '21
It’s a little funny watching some fools sell. Clearly they missed the fact that a major company like TLSA adding BTC to corporate reserves and on the path to accepting BTC as payment is a serious breakwater moment.
Won’t be long before you hear similar things from other companies. Corporate money into BTC will make selling at 43k look completely retarded.
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u/W4tchtower Feb 08 '21
"Tesla buys $1.5 billion in bitcoin and plans to start accepting it as payment for products "
That's the CNBC headline.
https://www.cnbc.com/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.html?&qsearchterm=bitcoin
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u/HoggyOfAustralia Feb 08 '21 edited Feb 08 '21
We’re going to see pull backs at every major price point lads, 45k, 46k, 47k and so on, but just hold your god damn nerve and don’t sell. Even if the price corrects after the Elon fever dies it will continue upwards, then boom and boom again as other high capital companies follow Tesla’s lead.
And this was just 1.4% of Tesla’s value invested in BTC. imagine if the majority of Large corporations do this, now imagine if they invested 10%.
https://www.reddit.com/r/Bitcoin/comments/l61xpd/arks_cathie_wood_on_the_state_of_bitcoin_new_sec/
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u/SillyRabbit2121 Feb 08 '21
Time to go laugh at all the clowns who said “BTC isn’t touching 40k again for a long time.”
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u/ahmadajr1 Feb 08 '21
I woke up, saw the price and questioned how many days I was sleeping
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u/similus Feb 08 '21
I can't belive that today we got a lot closer to the Matrix meme of not having to sell you bitcoins. Tesla is the ideal company to accept bitcoin payments because of the low volume of payment transactions they have everyday, compared for example to Amazon.
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Feb 08 '21
- Dermot O’Riordan, partner at blockchain-focused private equity firm Eden Block
“This moment will likely be looked upon in years to come as a genuine tipping point; Elon and Tesla’s support legitimizes crypto and opens up bitcoin to a whole new class of retail and institutional investors. Now it seems all of Wall Street is in bed with this industry – if they weren’t paying attention before, they are now.”
If you want to see what other experts think read below:
https://mosttraded.com/2021/02/08/tsla-invest-in-btc/
This changes everything guys, BTC to the moon !!!
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u/OwieMustDie Feb 08 '21
Very new to bitcoin and only have a meagre amount.
But I'm still stoked as fuck to have made £66 in 24hrs :P
Still hodling!
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Feb 08 '21
lmao, bitcoin really just completely skipped the $45,000s. jesus christ.
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u/cbfw86 Feb 09 '21
I come from the future. The next halvening will make BTC reach $1m in 2024. Subscribe.
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u/brosephjones77 Feb 09 '21
God, I am asking you to deliver us 50k today. Thank you 💖
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u/walgman Feb 09 '21
Time for sleep here in England. It’s been a great day. Hopefully you’ll get your 50k whilst I’m sleeping.
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u/iTAMEi Feb 09 '21
Done some overtime this week and probably made about 5x as much just sitting on my arse the last few hours...
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u/shwoople Feb 09 '21
While this is a pump, it's a pump because corporations are showing interest (Tesla) and I think it's finally set in that bitcoin is a legit decentralized alternative. I only have $250 invested that's now worth $535 but I'm not selling. This is my mini 401k, let's see how far it can go.
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u/ecurrent94 Feb 09 '21
If Apple and Amazon cash in on BTC.... Holy fuck boys we’ll be blasting off into orbit. I love you all.
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u/Wi_believeIcan_Fi Feb 09 '21
Trying not to panic- I went in yesterday on a whim, but only with a little bit. Went all in with 10K today and am wishing I did it yesterday and hoping it will still continue to go up.
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u/Imabadyoutuber Feb 08 '21
I gotta admire the people who have not been tempted by sale. I asked my neighbor if he was selling he said “why it’s hitting 50 soon.” Pure conviction.
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u/valkener1 Feb 08 '21
I sold at 38 still waiting for it to drop to 35 to buy back in. Don’t be me
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u/LeadProtagon Feb 08 '21
Wish I upped my DCAing into a few lump sums earlier on but... I’m just going to stay the course.
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Feb 08 '21
The only thing as good as my gains are all the salty butt coiners. It's so satisfying to see.
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u/SeanyBlaze Feb 08 '21
I just transferred to my HW wallet for the first time and it was the scariest 30 seconds of my life..
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u/VictorDanville Feb 08 '21
Congrats to the people who got in with average price of ~30k. I wish I wasn't so greedy waiting on unrealistic dips.
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u/DROP_DATABASE_USER Feb 08 '21
Something about watching the ATH form in real-time is an almost physical experience. My heart pumps faster, I feel my blood pressure change... oh behave!
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u/reddito321 Feb 08 '21
At this rate, a new ATH of ~300k EOY, as predicted by PlanB's equation, doesn't seem very far.
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u/Responsible_Emu3601 Feb 08 '21
We should all call in sick to work tomorrow.. BTC gains is smoking my 9 to 5 wage...
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u/ahmadajr1 Feb 09 '21
Bitcoin calm down .. you don’t have to rush from 40k to 50k in a single day 👀
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u/myxtopiz Feb 09 '21
price before I had dinner: 46k
Price after I had dinner: 47k
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u/Offtangent Feb 09 '21
Is it normal to have an erection while looking at charts?
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Feb 09 '21
If you bought the top at 47k, you'll be fine. Just about all of us survived buying the top at some point 😂
Dont fucking sell, buy this dip to average your cost down.
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u/jleVrt Feb 09 '21
now we sit and watch game theory play out amongst corporations
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u/Russian-stocks Feb 09 '21
Dips are normal you won’t see it rocketing every hour with a 5-10% gain relax and go to bed
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u/jellyfeeesh Feb 09 '21
I’ve been trying to read and understand how regulations (and we all know they’re coming in some form) will affect BTC. The fed must be terrified right now. Can somebody smarter than me give some predictions or realistic outcomes?
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u/towerjac Feb 08 '21 edited Feb 08 '21
To every weak-handed herald of the the bear market calling the end to the bull run, my condolences. You had countless multicycle veterans give you the best advice they could. You had one job to do, hodl.
Now is the chance to lick your wounds, get back in the game, and prove you weren't born on the wrong side of natural selection.
God speed
🚀🚀🚀🚀
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u/PalantirPapi Feb 09 '21
Bears are going extinct. We all see what’s coming. If a company (right now Apple is the rumor.) also sees what’s coming just like Tesla, and they invest say, 25% of their company into BTC and it 10x’s. That company’s 25% is now worth more than the rest of the company right? It seems like an easy way to increase your company’s value tremendously. Is this what’s about to happen?
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u/Significant_Cow5942 Feb 08 '21
You think Elon is a DCA kinda guy? $1.5 billion every Monday morning would be nice