Now that the crypto bull have had their bollocks handed to them on a plate I wonder where from here?
Very difficult to find any reason for a recovering in the current environment
Downfall of Crypto's
Ocker on 19/06/2022 - 09:11
Last edited 19/06/2022 - 13:25 by 1 other user
Last edited 19/06/2022 - 13:25 by 1 other user
Comments
Elon's 5D chess!
SEC hates this one Elon's trick again.
The SEC isn't smart enough to go toe two toe with the #Dogefather.
Trump 6D chess…. Oh.wait wrong post
Temporary setback
Sell the dip, buy the rip.
it'll go up again over the next few years ..chuck a few grand at it
User name checks out.
I don’t know… it got down to like $9k not that long ago and then skyrocketed back up to $90k.
Paper hands selling up, diamond hands holding, whales manipulating, then it hits bottom and all the FOMO investors get back on it. Crypto is basically a Ponzi roller coaster. There will always be a new group of “I’ll make a profit on it this time” dumb investors to kick in their portion to make the whales richer.
Or tweet 🐶🪙 and then profit
Does it matter?
Any bargains to be had? Too late…
Obi wan: they'll soon be back, and in greater numbers
Mando: This is the way.
Me with a red AF portfolio: This is the way.
I think of what physical "thing" does a crypto represent? The answer is nothing, so what's it worth in the real world the same nothing.
For the non technical it's like a prime number that is used in match and science. So far very very few companies use block chain technology to track or authenticate things.
Disclaimer: I think crypto is a ponzi scheme (to rekt’s dismay)
The value in crypto is in its ledger. It is not a closed ledger that a bank holds which subjects to integrity risk. Someone can’t compromise how much someone else owns easily. Or there is no actor who can generate free coins like reserve bank to devaluate the coin. This leads to the sense of security, a safe place to stash wealth.
But, the price of crypto doesn't hold the wealth. It is manipulated into a floated currency subject to hyper inflation or deflation, the very reason the same people don't want bank to keep their money in first place.
Blockchain is a great authentication measure. Itself is not a monetary policy.
Crypto is what people mine.
Block chain is what companies use to track or authenticate things.The two are different, but heavily related as far as I am aware, but I could be wrong.
Crypto coin is the reward to verifying new entries to the blockchain in crypto currency.
Other blockchain application include contract verification used by some companies.
**Ponzi scheme unravels.
https://twitter.com/BitcoinMagazine/status/15381442989858324…
.#Bitcoin is dying https://t.co/G5ZbnIgA5rPeople who bought high should sell all their #Bitcoin and realise their losses. It's a great way to claim a tax deduction for future gains.
Thats right you dont pay tax here, so nothing to deduct against, hence HODL to the moon !!!! 🚀🚀🚀🚀🚀🚀🌕
People can claim against stonks and ETF gains.
technically 15k —> 10k —> deadcat bounce
fundamentally one of the biggest ponzi scheme/hype is about to die down like 2000 dot com boom
Thanks for the buy signal.
Why buy #Bitcoin -70.0% from #ATH?
https://twitter.com/100trillionUSD/status/153821905693911449…
There are currently 2 perspectives on #bitcoin:
1. (left) BTC is a bubble, a ponzi that will go to zero
2. (right) BTC is rising exponentially with great volatility
Note that the 2 charts use the exact same data. Perspective matters. #logscale https://t.co/Ej78MZjZ58It's going ✌️ ZER0000000000000000000000…….
……….. 😭
I'm curious if the log scale is a better interpretation of the situation, since BTC's growth over it's lifetime has been kinda exponential.
Also funnily enough the log scale doesn't show zero!
I have been into Crypto for a while and I have always described the objective not about striving for balance but about finding the seeds of order even in the midst of profound chaos to achieve the most amount of fiat currency from the initial investment.
I got the $30 in crypto with the Luno deal and it's worth just $9 now. I feel sorry for anyone who got that deal and decided to "invest" their own money into it.
My free 50 from Swyftx in October 2021, is now worth 18, around a 64% drop
Y'all should sell #Bitcoin before it goes to ZER000000ⁿ0000000000000….
R U OK?
Of course, I'm 👍.
>
https://www.ozbargain.com.au/comment/12286609/redir
rektrading 22 hours 32 min ago
@abctoz: I've been waiting for 2Y to buy at these prices.. #Bitcoin is a long-term play. I've time to wait for another 10Y, 20Y or 40Y for this to play out.
I'm waiting for #Bitcoin to damp to sub $15,000 and DCA to $3,800.
Most porn sites don't accept Bitcoin. It's doomed to fail just like Betamax.
Has he ever been?
the cycle will repeat
This is why I went and bought shares in Enron and Blockbuster.
Crypto won't vanish but there's no reason the next big thing will be Bitcoin again, it could be a completely different coin.
Should have bought Kodak shares.
past crypto cycle based trend predictions are accurate until they aren't…
that the game of technical charts, every thing works until it doesn't
there is no guaranteed anything will repeat, it may works a couple times and never again
Real estate doubles every 7Y.
May be this time will be different?
The use of proof of work and Merkle trees to solve the Byzantine generals problem gave us "da blockchain" actually a surprising result: having a tolerant system function with fraction of disloyal generals upto 50%.
Still fails given the concentration of wealth->compute in the world.
Gm frens,
Anyone that is still 🎒 hodl #Bitcoin should sell. It's going down down this week.
buy the dip. I think it will go a bit lower though but I wouldnt expect gains for 12 months
How can people but #Bitcoin when it's -70.0%?
Brilliant scientists have been known to do foolish things, but Isaac Newton’s financially disastrous moves during the South Sea Bubble of 1720 are a particularly remarkable blunder. When it was founded in 1711, the South Sea Company was primarily a scheme for managing British government debt. Newton was an early investor and profited nicely as the price of South Sea stock rose over the course of the 1710s. However, in 1720 the company’s stock experienced one of the most legendary rises and falls in financial history. Newton decided in the early stages of that mania that it was going to end badly and liquidated his stake at a large profit. But the bubble kept inflating, and Newton jumped back in almost at the peak. His experience provides an instructive example of how even brilliant thinkers can go astray in an environment that lends itself to collective delusions as a result of the proliferation of misinformation and disinformation
Isaac Newton was a pleb degen that FOMO the top.
That can happen to anyone that doesn't pay attention. Just look at the #SPX, #XJO and the real estate market.
FOMO 😭 before 🛌.
Watching the value plummet, Newton discovered gravity.
Good time to buy, i think we will see continued pain in the crypto market until interest rate raises are finished and inflation is 'level' probably wait for the next Fed rise then ill jump on and bag as much crypto as possible.
Oh, but a 60% drop in btc value over 6mths is healthy, shaking out weak hands, part of the algorithm, all part of satoshis plan, perfectly normal etc etc etc
:)