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Thread: Crypto Currency.

  1. #1

    Crypto Currency.

    Anyone notice the bounce ? I took a $12k hit on 6 and am still holding 6 Bitcoin with a cost basis of $5350. I typically avoid greater fool games because synthetic neutrals are like taking candy from a baby. I am 42-1 on Synthetic neutrals in gold. I have been far too conservative but betting the ranch is a good way to get blown out. Anyhoo..i am not asking for advice on crypto. I am just curious as to what you peeps think. I want to say one thing. It didnt take a lot of capital to move it higher. Therefore it wont take nigger right has the football to demolish it.
    Where is my fucking cat?

  2. #2
    For the record roughly $10k is a Fibonacci 1 retracement. Mud $13s is a Fib 2. I bought 5000 Ripple at 56 cents and am down about $1 k on it. Im keeping the Ripple for the sportfuck of it but I have had and still do have too much capital tied up in Bitcoin. I am thinking of dumping half of them now and selling the rest if it goes up to 9k or down to 6k. Its stupid to tie this money up as I can make better use of it as margin to short option premium. After all, competition for capital in one asset class vs another is the huge factor in price direction. That being said It doesnt bode well for bitcoin, in my case. Problem is not many people do delta neutrals except professional investors and very experienced spec players .
    Where is my fucking cat?

  3. #3

  4. #4
    Quote Originally Posted by Lum View Post
    You gotta be shittin' me.
    Why?
    Where is my fucking cat?

  5. #5
    You asked for opinions about it. I have none.

  6. #6

  7. #7
    12,570. hit fibonacchi 2 at 12900..
    Where is my fucking cat?

  8. #8
    Dudely Dude superdude's Avatar
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    Quote Originally Posted by Cotton1 View Post
    For the record roughly $10k is a Fibonacci 1 retracement. Mud $13s is a Fib 2. I bought 5000 Ripple at 56 cents and am down about $1 k on it. Im keeping the Ripple for the sportfuck of it but I have had and still do have too much capital tied up in Bitcoin. I am thinking of dumping half of them now and selling the rest if it goes up to 9k or down to 6k. Its stupid to tie this money up as I can make better use of it as margin to short option premium. After all, competition for capital in one asset class vs another is the huge factor in price direction. That being said It doesnt bode well for bitcoin, in my case. Problem is not many people do delta neutrals except professional investors and very experienced spec players .
    For a guy who claims to be a pro you always buy at the wrong time.

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