So I woke up this morning to find that BTC drastically dropped from 1150$ USD all the way down to 935 USD. I really was not ready for that. I should have put my BTC in an altcoin before it dropped, like Doge when I saw it at a 19 satoshi because now it is up to 23.
Here is a chart show the drop of BTC. You can see how it was steady for a long time and then the first small dump. Then the you see how it was all dumped at once.
Here is a close up of when the price of BTC drastically dropped!
I read in the troll box (if that is reliable at all) someone saying that whales are pumping BTC then dumping and putting it all in XMR and then back to BTC. They were calling it a "ponzi scheme" which is false but I do see the possibility that what he was saying is true. Here is a chart of XMR (Monero).
Now as you can see in the charts. The drops in price of BTC and monero seem very similar in time frames. You see the first and second drop almost at the exact same hour on both Monero and BTC. So I doubt if what the "troll" in the trollbox statement is true. If it is true, the transfer dump of BTC and the pump of XMR it happened in a matter of minutes or even seconds!
But the truth of why BTC dropped matters to me not! All it mean is that now is the time to buy BTC! I have not set up a way to buy BTC with my credit/debit card yet. @craig-grant recommended gemini.com when I asked him which place had the cheapest commission/fees but I haven't had time to set up my account yet! I would like to find a place that I can trust with my credit/debit card.
Which place do you buy your BTC? What would you recommend as the best place to buy BTC?
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Perfect, I accept all forms of cryptocurrency. You can just write it out to @ballinconscious!
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can whales do that? BTC market cap is well over $US 3B - I wonder?
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Yeah, I don't see why whales wouldn't be able to do that. There had to be a significant amount of people moving there money to altcoins for the price of BTC to drop!
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well, trees don't grow to the sky. A 'correction' was due
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Haha that is true I guess! "What Comes up, must go down"!
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Look at any long term chart for Bitcoin. Big rises always have pullbacks. That it is flooring above $900 is bullish IMO. HODL yer coinz! This is nothing.
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Your completely right! That actually is what I was saying. I just didn't predict it to be so quick. I think 900$ too. Actually is seems to be going up already around 950$. Oh yeah i want to hold my coins and buy more! Just trying to decide where to buy!
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I am interested in this subject, as well. I am 90% sure I won't do the CC to BTC thing but am always open to new ideas. I hate the markup or "fee" on ATMs but looks like you have a few bitcoin ATMs in your neck of the woods. Have you given that a thought?
I think the best way to obtain BTC is selling a product for BTC, and you are doing that already with your biz. Or owning a BTC ATM, right?
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What is CC, Credit Cards? Oh yeah i most likely want to buy online, but I do have a BTC ATM close by to me. I will compare the prices. Yeah, I don't like high markup fees either!
Yeah I agree. Product selling is the best! Well partially, I have only just now started to expand into the online world with my business. No, i dont not own an BTC ATM; I wish I did though :p
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Have you checked Kraken yet? Their fees are very low, in my opinion. I usually use it for buying larger amounts of Bitcoin. In fact, I used yesterday’s drop in price to buy 5.6 more bitcoins on that platform, while the price was at the 24-hours lowest. Good luck!
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Thanks you, I appreciate you tip. I have not tried that yet, I will go check it out now. Wow good timing on getting at its low, nice you totally scored with that. When it goes to 1100$ again that will be 200$ profit per BTC. I read the lowest 24 hour drop was 880$ is that what you got it for?
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Thanks for this post. I seem some interesting suggestions and options so far.
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Yeah, some good ones mentioned. What do you use to buy BTC?
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Actually, I have not bought any but I've been reading a book "Virtual Billions" about it.
That's why some of the comments here are quite interesting. It's quite a good read so far.
This is the book:
https://www.amazon.com/Virtual-Billions-Genius-League-Bitcoin/dp/163388144X
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MMmm just looked at the book, seems interesting. Yeah, I would definitly invest in BTC now while it is at a low.
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Interesting. I was thinking of dumping all my btc into Monero. :)
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Yeah, Might be a good idea, moneros at a low right now but so is BTC. I suspect they are going to rise at the same time.
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BTC always bounces, Currently around 941 as I am posting this. The cause was China. http://www.coindesk.com/deja-vu-bitcoin-price-slips-900-amid-china-news/ Monero has become popular on the Dark Web. This is one of the reasons the spike in Monero https://cointelegraph.com/news/monero-loses-darknet-market-in-apparent-exit-scam
Bitcoin is like a gateway coin as well as a few others that you can sell direct to USD. Many of the others first need to be exchanged for bitcoin or Litecoin before converting to USD. Most of the Alt coin market coins are not strong. But there are a few. Ethereum 10.18 each Monero 13.83 Litecoin 4.04 - Currently on Bittrex Dash currently has the top volume, current price is 12.95 and climbing. Decred is looking like it is getting some attention a high of .85 and low of .56 has the largest % gain
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Yeah that is true. now it at 890 right now. aaahh ok, it seems to be that way a lot. They have a lot of buying and selling power. yeah monero system also seems to be different than some of the others too!
Yeah but in the end it is not about how much money it is worth but it is about when you bought in. Indeed volume is very important. haven't quite learned how to take advantage with analying how much volume there is! I need to learn more about when a gain shows that it is time to invest too!
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