Daily Discussion, November 22, 2019

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25 comments

  1. FinAdvReddit

    |Author

    Hi,

    Sorry if this is a noob question, but I am looking at investing a very small portion of my portfolio into Bitcoin, just for the fun of it. If it goes up, good for me, but if it drops, it’s not a significant loss. Just a bit of fun to keep track of it etc.

    I’m quite active in /r/UKPersonalFinance and I see tons of posts with people who have had their bank accounts closed (typically Monzo) and the first question that is asked is, “have you used this account for crypto trading?” I just want to have a bit of fun and see if Bitcoin doesn’t happen to earn me a little bit of money in the process. I don’t want the hassle of getting accounts closed down etc, and having to deal with getting them unblocked.

    TL:DR – Does bitcoin trading increase the risk of banks closing your account “for no reason”? Is there a way to ensure everything is done entirely legitimately to avoid this risk?

  2. c0mm0ns3ns3

    |Author

    China is the most dominant country with regards to Bitcoin – both in Hashrate power as in terms of posession. You guys really think, Bitcoin (price) is independent!? For real? Time to wake up folks

  3. cryptogrip

    |Author

    The drops are getting closer together. This can only mean one thing – my DCA buys are getting closer together. Lol.
    Naw, it actually doesn’t need to mean anything.

    I’m just glad I had no plans sell anytime soon. I’d hate to have been anyone counting on short term gains, that **** would be stressful. Cheaper bitcoin has it’s perks when you’re accumulating!

  4. TheThird__

    |Author

    I’ve been in crypto since mid 2017. This is to be expected – Embrace the bear as you would embrace the bull, because long term the sun will shine.

    For those who sold with a view to back cheaper – well played.

  5. niquedegraaff

    |Author

    Jesus, when will this reverse? “btc never goes straight up or down”.. Well it just goes straight down for weeks now. Not even a relief rally, nothing. At some point, it must be low enough to freaking buy this right?

  6. Mining difficulty has nearly tripled in the last year. I seriously doubt that there will be a huge sell off.

    Miners can’t afford to sell cheaper.

    HODLers would be stupid to sell cheap with six months until the halving. I believe it could theoretically go into the low 6000s but I don’t see how supply and demand would currently allow it to go lower. Unless the government seriously started talking about banning it.

  7. shaggadally

    |Author

    I’m a bit astonished at the comments from yesterdays daily discussion. Granted I’m only in this since july, but how come volatility is usually regarded as normal but as soon as the price drops a bit more, so many people freak out?

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