CHINA CENTRAL BANK ASKS LOCAL AUTHORITIES FOR ACTION ON BITCOIN MINERS
Before the beginning of 2017, China’s top three exchanges swapped the most bitcoins worldwide, capturing the lion’s share of globes BTC trades. One of those exchanges was Huobi, a company headquartered in Beijing who held China’s top BTC trade volumes since 2013. However, in January of 2017, the People’s Bank of China (PBOC) started cracking down on domestic exchanges facilitating cryptocurrency trades within the country. At first, things just seemed like some harsher regulatory action would take place, but the central bank shut down all of the Chinese exchanges who enabled digital asset trades with the renminbi.
I sold out half the other day. My initial investment was a couple thousand and take was in the hundreds of thousands.
I'm not sure we have reached a top yet. I think xrp will have legs to $5. But I'm watching what South Korea does with interest.
I'm not big on stocks anymore. Occasionally I will jump on something, but I definitely lost the passion for it a while ago. I sucked as a trader but was great at jumping on winners that 10bagged out my losses.
Day trading I was hit and miss. Getting in early and holding was what I was good at. And thats what I stuck with.
Not just investing in the usual property or shares.
I made profits reselling minelab detectors into Africa during a recent gold rush with minimal effort. 100-200%.
Or rare coins during the whole monetarium takeover/pyramid scheme fiasco.
Sheep/cattle
Food products
Exotic fish breeding.
Insects.
All on top of regular business.
But crypto I never thought would run the way it did. I missed the boat on it by only chucking a couple thousand in.
AI and biotech are still a bit early. Although there is a guy doing diy genetic mods to himself in the US and stuff like that. It's usually the start of a bigger trend.
I'm flicking some money to a business venture in China and needed quick cash. I got out from $2.90 to $3.10.Which brings me to moXJOs post
While I understand selling off half your holdings for a couple of hundred K
Which if sold at about $2.50 my workings say you must have had about 200000
Of them
What I don’t understand is that we all want to be in the position to change our livers
You were in that position while you have 100000 left which a $1 move = $100,000
My observation is that you left $150,000 on the floor in a few days!
Price has risen about $1.50 on that time.
How often do we get to pull $100,000 + a DAY!
With almost no risk to base capital!
You could still set you and your family up for a few generations
At least your in the position to do so.
But you were in TWICE that position a few days ago,
Plus you’ll lose around a third in tax.
Still 2 in the hand as they say.
I have people in the operations part of my office (i work in a supply chain company) talking about how much money they have made (on paper) from this. Quite incredible how far reaching this is now.
Tech I like your thoughts (really like) about the fear - calculated risks are rarely an error. I must admit I have no piece of this so perhaps I'm a little bias but life isn't this easy, you can't just print money - surely something happens in this space that atleast leads to some type of fall??!
What exactly does this mean?
an interesting article about a joke now valued at 2billions USd; while I do believe in blockchain and also believe bitcoin has as much value as any fiat currency if not more, this illustrates both the FOMO and the sad state of these quantitative easing and actual devaluation of money all around the world: too much free cash available, yet it seems not so much in people wallets but more in the big banks and funds
anyway have fun:
http://fortune.com/2018/01/08/dogecoin-hits-all-time-high-2-billion-valuation/
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