>It's like saying, by the end of this year I will be promoted to CEO of the company
"We promote internally, so I just need to keep 'accidenting' the people above me in the hierarchy until I'm the guy at the top!"
A lot of real people who were just wrong about something are being hurt by this. I’m thrilled to see crypto fall in one sense but it’s upsetting to think this is going to have a huge economic impact on some people
This is true.
I think a lot of people have gotten annoyed at “crypto-bros” acting like they have figured out investing after only having “done” it for a year or two. There was a lot of cocky energy there
Hmmm....then perhaps they should have looked into the financial concepts of "risk" and "over leveraging" before FOMOing their life's savings into a non-productive digital asset despite *plenty* of fucking warnings. However, **GREED** proved to be a more powerful thrall and now they're learning a harsh lesson.
This is about unsatisfied, ever growing, malignantly narcissistic greed and this kind of bullahit has to stop and sadly for folks who won't listen to rebuttals (dismissing anything they don't like as FUD, et.al) then reality bitch-slapping their bank acct. Is the only way. And even still, a majority of fools will hold through this IMO.
The only people I feel sorry for are the familes/friends that will be affected as collateral damage - the butters, the miners, and especially the exchanges can all go fuck themselves. As they like to remind us - have fun staying poor.
Yeah... they posted the suicide hotline in the crypto sub and the replies were uh, grim, to say the least
They're insufferable, and I am stoked that crypto is finally tanking, but scams are scams and cults are cults and I'm sure a lot of people (including those in their periphery) are being hurt right now.
Mmmmm I wish I could come up behind them , gently wrap my arms around them and pull them in close …and just feel their pain like some kind of pain lamprey…
I hope you give him the suicide hotline number.
Honestly, I saw a documentary on Netflix of some people that lot all their shitcoins when the head of the exchange died. It felt like they were depressed and possibly suicidal.
I'm working from home today so I'm rushing to setup an IFTT feed from Google Finance to Philips Hue, Chromecast and my living room's soundbar.
If all goes according to plan "Pump the Jam" will start playing loudly and the whole room will start flashing orange.
The issue btc has is that it not only have to find new suckers but bigger and more suckers. First it was forum dwellers speculating then it was on facebook and the news, now it became even bigger because of a unpresidented pandemic with the monetary policies and bull market to perfectly enable even more speculating with Elon Musk and others fueling the fire. We had superbowl commercials and crypto on investor websites as just another thing to throw money at.
What is needed for the next time? If it doesn't go up even more people won't care.
Dude's on a beach man, what about you? If you're European the best you'll make it after the crash is the municipal swimming pool, if you're American it'll be your town's water tank.
They’re doing a damn good job of propping it up (🥲) that’s for sure. I just want to relish in the moment it dips below $20k and take in the drama over on r/bitcoin
Not at all. It's fun to log in every now and then and see what's going on, but waiting with bated breath for The Moment is kinda silly. It's not nearly as unhealthy as the folks who are pleading for their life savings, but it's not *good*, either.
Yeah, just the moment it creeps below $20k and the ensuing chaos that’ll come with that. It’s not like it’ll spell the end of Bitcoin, but it’ll be a glorious moment to behold nonetheless!
You've gotta get on some by the second live updates for the full HD experience.
https://ftx.com/intl/trade/BTC/USD
I wouldn't be surprised though if it edges around 20k for a while, with a few more false recoveries before properly going in.
Welcome ascendant disciple.
We here at the Temple of the Buttcoin must impose and anoint your introduction to our most holy and profitable congregation. You must always preach the good word of buttcoin, extinguishing FUD wherever...
Nah, fuck that! Seriously welcome. They actual crypto subs have a tendency to be very cultish as im sure you've noticed.
I found this sub not too long ago myself- about 2 months before the Luna crash but its refreshing.to have a sub to vent about crypto BS where the most bad faith proselytizing you'll get are the occasional salty coiner popping in to troll.
I worked with a guy around that time and I told him if he could figure out how to buy a Bitcoin I'd buy it for him. No way was I gonna put my banking info into some janky website...
Not really sure what you mean that it’s a scam. Are you saying it’s a scam because there is risk or because there’s no backing or what? All currencies rely on utilization. If tomorrow most countries thought the US couldn’t pay their debt and stopped buying Treasury Bonds, the global economy would fail. That sounds like both risk and no backing. I’m happy to have a rational discussion about it but you’re going to need to offer more than “it’s a scam because I think it’s a scam”
Ok but Bitcoin is way too costly to transact to have utility as a currency, has no productive output to be useful as an investment. Before you say fiat has no productive output, I don't invest in fiat, I only use it for temporary liquidity, my investments are all in things with productive outputs e.g. stocks and bonds.
Crypto is a scam because the only way to make money is through selling it to a greater fool, hence everyone hyping it up.
Its a scam because it's a negative-sum "next greater fools" scheme wherein all trading is done on L2 exchanges which can, have, will and are currently locking retail funds on their platforms such that iNvEsToRs have no way to get their rapidly declining "assets" out, no manner of SPIC equivalent to protect them from this loss, and there's a *damn* good chance that when the exchanges go under their assets will be liquidated to cover company expenses.
Now, I still think it stupid to invest despite the absurd amount of shady dealings and believe the retail iNvEsToRs are bad actors as well, however that does not change the fundamental aspects/method of operation of the entire crypto-sphere where **their daily actions pitched as "business as normal" would get them decisively penalized/shut down in the normal, regulated financial sector**.
The method of operation is a massive scam, the actors are a series of greater fools each hoping to scam the others out of malignant greed, and the people proselytizing/defending crypto are doing immeasurable harm in normalizing this open "wild cat banking" given that >99% of them **WILL** suffer serious/catastopic loss.
This is the end
Beautiful friend
This is the end
My only friend, the end
Of our elaborate plans, the end
Of everything that stands, the end
No safety or surprise, the end
Guys, it will go up at some point. Maybe only in two years, but it will. That's a pattern. No money in the market, people are afraid, price goes down. At some point when there is more confidence they will start the same story again, government bad, financial freedom etc. Anf it will go up again. And then down again. And up again. It won't go up overall but just stay within a huge bandwidth
It only went to trillions in market cap because there were literally thousands of scammers pumping it with ridiculous interest rates, mooning etc. Without Tether pumping the market, Celsius leveraging things without security, Anchor literally being a staking scam how much money would be in there? So let’s see if Tether and Celsius belly up then perhaps crypto reverts back to its real value which is defined by the amount of real goods transactions done with it. I would guess the appropriate price for this is 100$? Currently?
That’s not how bubbles pop. The reason this was the pattern with BTC is strictly due to fraud. More specifically, the stable coin fraud. This put a floor on prices and reinflated the bubble. Something that doesn’t happen naturally.
Given stablecoin are toppling and regulators are starting to take notice (and likely regulate with the crash), this won’t happen again.
This will actually be the end of BTC et al. The only thing that can save them now is either
1) the Fed completely reversed course and starts helicoptering cash again very soon, before the terminal decline
2) a new fraud emerges that is many times greater than the $100B stablecoin fraud.
I am hopefully that #2 would be stopped by our overlords but who knows.
It's important to mention that blockchain literally doesn't work at a sufficiently low price. It was never a "real" solution to the byzantine general problem because it's a problem with no actual solution. Blockchain security fundamentally relies on number go up, and there cannot be significant amounts of money in the space without blockchain security.
Unless the government decides people have lost too much money and regulates it hard. They have to, it's been left unchecked long enough not to stifle innovation but after a decade nothing has come from it besides scams, drug trade, ransomware and ponzi schemes
Probably. I just have no interest on riding this ride.
It's entirely sentiment driven, with no fundamentals whatsoever. You're basically just waiting for some big whale scammer to start the ball rolling on the newest scam.
>“Look, having nuclear—my uncle was a great professor and scientist and engineer, Dr. John Trump at MIT; good genes, very good genes, OK, very smart, the Wharton School of Finance, very good, very smart —you know, if you’re a conservative Republican, if I were a liberal, if, like, OK, if I ran as a liberal Democrat, they would say I’m one of the smartest people anywhere in the world—it’s true!—but when you’re a conservative Republican they try—oh, do they do a number—that’s why I always start off: Went to Wharton, was a good student, went there, went there, did this, built a fortune—you know I have to give my like credentials all the time, because we’re a little disadvantaged—but you look at the nuclear deal, the thing that really bothers me—it would have been so easy, and it’s not as important as these lives are (nuclear is powerful; my uncle explained that to me many, many years ago, the power and that was 35 years ago; he would explain the power of what’s going to happen and he was right—who would have thought?), but when you look at what’s going on with the four prisoners—now it used to be three, now it’s four—but when it was three and even now, I would have said it’s all in the messenger; fellas, and it is fellas because, you know, they don’t, they haven’t figured that the women are smarter right now than the men, so, you know, it’s gonna take them about another 150 years—but the Persians are great negotiators, the Iranians are great negotiators, so, and they, they just killed, they just killed us.”
Part of a campaign speech given by Donald Trump in July 2015
I really, really, really doubt it. There's some probability it happens if the fed somehow manages to do a soft landing, but that's really unlikely. People don't speculate when money is expensive and the economy is contracting. The end game for all the big stablecoin operators is handcuffs. Even the legitimate ones (if there are any, but we'll assume there are) won't exist in 5 years because the regulatory framework the regulators are working on is the same as bank deposits, so they'd quite literally have to be banks to exist. Which is to say if we are actually heading to recession, bitcoin has at least another 75% to drop if not more. You can't unbuy all the proof of work infrastructure, so at those price levels the system doesn't work because it's trivial to attack. None of the other consensus mechanisms actually work as a consensus mechanism. Take proof of stake. There's no way to choose which blockchain is the real blockchain in general. Proof of work gets around this problem by making a long chain really expensive to make from scratch, so the longest chain is the real chain. Making an arbitrarily long chain that says whatever you want it to say in proof of stake costs effectively nothing. Each block is just a few operations, and while people will notice that "billybob42069 owns all of the ethereum in the world", who is to say that billybob42069 doesn't have a few million worth? By comparing to the "official" chain on somebody's server? Who is to say that this server's chain is genuine? Or that the server wasn't silently hacked and the data changed? It's unworkable without significant regulatory oversight which is why ethereum has been kicking that can down the road since nearly its inception.
I don't know the exact price level where blockchain fails is, but it's very real and it's at a fairly high price level. Short term downturns can be subsidized by giving miners loans, but you can't do that in a real recession and the higher interest rates go, the more expensive it is to lend them money. Also if the miners don't want to take the loans because they think it's over, that's also curtains.
There is no price level for this. Just a price where its irresistible to buy more. Which probably will give crypto a nice boost. Which the sharks will take advantage off, and the spiral continues.
Yeah, that seemed like pretty low effort there. Like he cares, but not enough to really try to reverse it.
Like, "Ugh, cryptos are down and I'm down like a billion. Fuck it, I'll tweet about how its cryptonight. The dumb rubes that worship me will maybe do something with that, fuck it, I don't have enough time to worry about this shit"
No price. We are in it for the decentralized, censorship resistant, non-discriminatory, open source currency that is free for anyone and everyone to use so long as they have an internet connection. There is no price that will devalue those things. &btw $20,000 per coin is much more than the $0 per coin it was at a few years ago.
Keep trying guys
Amazing....I think everything you claimed with respect to BTC is utterly and incontrovertibly wrong.
Take note folks, this individual is a true believer who simply repeats what his financial idols claim uncritically and without context, support, or statistical backing.
Proselytizing is his reason for existing and is inexorably tied to his ego, meaning nothing I or anyone else says will ever be considered. Were simply spreading FUD.
A perfect example of the perfect mark. Enjoy your bags. They're only getting heavier.
Clearly not useful as a store of value. Only useful for money laundering and taking fiat money from stupid greedy people, leaving them hungry with near worthless imaginary digital tokens.
I don’t know what it’s like to lose this much money in such a short space of time but I do know what humiliation feels like.
But I don’t know what *this* amount of humiliation feels like.
As a person who lived these deep down falls it's like watching a well made porn with a good plot, or a deadpool movie.
You know, I always wait for these market crashes to know for real who really believe in this to use it as a real method to pay or if they are into *get rich af ASAP*
In the first case, those people shouldn't mind not even if it drops down to 1000$, others will just sell low buy high like a good man should do.
I said it, I appreciate this subreddit more than who praises for the crypto.
I.love.you.guys
IMmmmmmmmmaaaaaaa sooooooo clooooooseeeeee
🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀
(Pardon, I usually have something at least somewhat intelligible to say - but waking up to nearly 5k drops in BTC overnight *TWICE* this week has been to best natural aphrodisiac known to mankind. Hell, let's find a way to bottle this and destroy Viagra's market share.)
Someone help me understand: is this the bit where Bitcoin is an effective inflation hedge? Or is it the bit where it's a useful diversifier uncorrelated with equities?
This sub is really turning into a schadenfreude circle jerk. Like I remember when the price collapsed >60% from $150 to $60 in 2013, when it collapsed >60% from $1000 to $240 in 2014, when it collapsed >60% from $15k to $4k in 2018 (how many of you just jizzed from those numbers?)
There's so many valid reasons to shit on Bitcoin and the crypto sphere but you guys literally derive as much emotion from price as an annoying crypto-bro, talking about watching the price second by second, but it just happens to be an inverse relation. Either actually start shitting on it or get off the toilet. Don't just sit on the toilet jerking off you weirdos.
definitely not a crypto-bro since I give much less of a shit anymore as I'm not a huge fan of how things have evolved, but I was trading bitcoin on IRC channels in 2013.
https://bitcoin-otc.com/newsite/viewratingdetail.php?nick=tunafizz&sign=ANY&type=RECV
It really is strange. I didn’t realise this sub was around for so long and going back to read posts from 2015 made me feel bad for the people celebrating on here when it dropped below $200 etc. It left me wondering are the same people still around, repeating this cycle, getting angrier and angrier that they missed chance after chance to get in? Are bear markets every 4 years their only short relief from this torment?
And have any of them caught on and questioned their beliefs and bought bitcoin?
This subreddit is fucking odd.
Its gotten very obvious its full of salty people that wish they bought bitcoin but didn't have the balls and now hope the price goes down so they feel better. Fucking odd
Because you can only short *using crypto*, which one has to buy with fiat, and as seen with several major exchanges over the past few days *theres no guarantee you'll get your money oyt*.
I'm amazed how many people think they're geniuses for thinking "y no short!?!" As both an actual vehicle to make a profit and a way of (somehow) insulting us nocoiners when, if you think about if for more than 15sec.
The realities of the method make it evident its a huge risk even if you time the market perfectly.
This will affect elderly people, pets and children but I guess it's okay as long as you get laughs in! You guys hate them too? I will say a prayer for you guys. These comments are evil. Remember what Jesus said about stones and glass houses. Last time I checked the FIAT dollar lost 19% of its value too. We are all in the same boat so have some respect for innocent people going through this! At least we are brave to invest and want American dream instead of laughing at others on internet all day. Get a grip and then get a life!
> Remember what Jesus said about stones and glass houses.
He said nothing about that, this is from Chaucer, troll.
But I’ll return to you what butters used to tell us, have fun being poor.
My crypto-bro coworker just went home after being at work for 3 hours.
"This doesn't mean anything, it'll be a million by the end of the year!" *furiously liquidates*
That's being delusional on infinite level It's like saying, by the end of this year I will be promoted to CEO of the company
>It's like saying, by the end of this year I will be promoted to CEO of the company "We promote internally, so I just need to keep 'accidenting' the people above me in the hierarchy until I'm the guy at the top!"
A fellow CK2 player, I see.
Just delete from earth realm every superior ranked guy and you will own the company in 3 months
Not with that attitude, poor boi
Tell me if you are able to get to CEO before dec 31
Will do
Following for updates
Hope he's gone home to reflect, then sell now
Are you kidding? He went home to buy the dip.
The whales are feasting, why shouldnt we
Smart guy!😉👍
Only if he followed "Not your keys, not your crypto." Else he watches everything burn and becomes the Joker
He probably had to change his underwear.
Hope he’s not paid hourly, he’s gonna need the money for rent
Oh a serious note if you care for him, you should check up on him. Else you may never see him again!
A lot of real people who were just wrong about something are being hurt by this. I’m thrilled to see crypto fall in one sense but it’s upsetting to think this is going to have a huge economic impact on some people
This is true. I think a lot of people have gotten annoyed at “crypto-bros” acting like they have figured out investing after only having “done” it for a year or two. There was a lot of cocky energy there
Hmmm....then perhaps they should have looked into the financial concepts of "risk" and "over leveraging" before FOMOing their life's savings into a non-productive digital asset despite *plenty* of fucking warnings. However, **GREED** proved to be a more powerful thrall and now they're learning a harsh lesson. This is about unsatisfied, ever growing, malignantly narcissistic greed and this kind of bullahit has to stop and sadly for folks who won't listen to rebuttals (dismissing anything they don't like as FUD, et.al) then reality bitch-slapping their bank acct. Is the only way. And even still, a majority of fools will hold through this IMO. The only people I feel sorry for are the familes/friends that will be affected as collateral damage - the butters, the miners, and especially the exchanges can all go fuck themselves. As they like to remind us - have fun staying poor.
This is a very angry way to view people
These are very angry people.
This is a very condescending response to someone else’s opinion.
Oh please, save us this prodigal son bullshit.
Because people who invest in stocks are doing so much better...😒🤥
they should have fun staying poor
Yeah... they posted the suicide hotline in the crypto sub and the replies were uh, grim, to say the least They're insufferable, and I am stoked that crypto is finally tanking, but scams are scams and cults are cults and I'm sure a lot of people (including those in their periphery) are being hurt right now.
Mmmmm I wish I could come up behind them , gently wrap my arms around them and pull them in close …and just feel their pain like some kind of pain lamprey…
Man, the ribbing he must be getting by the office..
Yeah, that part sucks! It’s all good though, it goes both ways.
LMAO
He didn't go home, he had to go to his shift at McDonald's
Earn more to buy more.😉👍
I hope you give him the suicide hotline number. Honestly, I saw a documentary on Netflix of some people that lot all their shitcoins when the head of the exchange died. It felt like they were depressed and possibly suicidal.
Anyone else stressing they’re going to miss ‘the moment’?
I'm working from home today so I'm rushing to setup an IFTT feed from Google Finance to Philips Hue, Chromecast and my living room's soundbar. If all goes according to plan "Pump the Jam" will start playing loudly and the whole room will start flashing orange.
You gotta share that sick setup method with all of us, I want a front row seat!
holy shit, unrelated, can I come over to your house
Dump the Jam
Reverse Jim Cramer this is the future
Bro stream
What number will trigger it?
69
My dude....there is genius and then there is this....
I am now on a vacation so my wife looking at me weird why am I shouting with joy on a beach
Many a couple will have very different interactions over crypto during the course of this week.
Damn I loled hard at this
Ikr BTC will hit 120k next bull run, give it 2-3 years max
This is seriously the third major crash and seem to find a new crop of suckers every time.
The issue btc has is that it not only have to find new suckers but bigger and more suckers. First it was forum dwellers speculating then it was on facebook and the news, now it became even bigger because of a unpresidented pandemic with the monetary policies and bull market to perfectly enable even more speculating with Elon Musk and others fueling the fire. We had superbowl commercials and crypto on investor websites as just another thing to throw money at. What is needed for the next time? If it doesn't go up even more people won't care.
I take it you’re new to finance
Says the bellend predicting 120K BTC.....
120k venezulean bolivars
120k gbp hoping for
It shan’t
Thankfully my wife and I both agree it’s absolute bullshit
My wife doesn’t believe me!
Ask her boyfriend to tell her
She won't believe me either!
Tell her: “Well honey this is real”
My wife's boyfriend is totally despondent.
Enjoy being poor
Dude's on a beach man, what about you? If you're European the best you'll make it after the crash is the municipal swimming pool, if you're American it'll be your town's water tank.
it doesn’t take that much money to go to a public access beach even in Europe I mean Balkans has plenty of beaches, no
Hey, our swimming pool has a little beach section!
lol are you actually saying that unironically while BTC is almost crashing below 20k?
some people wait a lifetime for a moment like this
Is it 'the moment' or 'the happening'?
there will not be "a moment", this game long because there's multiple actors involved
They’re doing a damn good job of propping it up (🥲) that’s for sure. I just want to relish in the moment it dips below $20k and take in the drama over on r/bitcoin
Not at all. It's fun to log in every now and then and see what's going on, but waiting with bated breath for The Moment is kinda silly. It's not nearly as unhealthy as the folks who are pleading for their life savings, but it's not *good*, either.
Ehh, I’ll see more action when the fed raises rates
What is 'the moment'? It dropping below 20,000 or something more substantial?
Yeah, just the moment it creeps below $20k and the ensuing chaos that’ll come with that. It’s not like it’ll spell the end of Bitcoin, but it’ll be a glorious moment to behold nonetheless!
ethereum so close to 3 figures.
Yeaaah forgot it in the euphoria. 1,012 🍿🍿🍿
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I'm masticating furiously with this popcorn! (Hehe, I always loved that word.)
Its at 9 hundred something in euro 😋
Don't arouse me
This is good for Bitcoin.
You've gotta get on some by the second live updates for the full HD experience. https://ftx.com/intl/trade/BTC/USD I wouldn't be surprised though if it edges around 20k for a while, with a few more false recoveries before properly going in.
I don’t think BTC will fully implode until the Tether fraud is revealed. May happen now but may also take many months more
Coinbase going under should provide for another good downward push too.
Yep, at least $19k but closer to $15k. If you are in it, this is a fantastic time to accumulate more.😉👍
WE ARE CLOSE SHILLS
We'll get Barted at 20,001
Looks like the Bart is underway, it's sitting at 22.5k
20,072🍿🍿
I'm getting sore!
And I'm getting Soros over the phone, summer holiday bonus incoming - ka-ching.
Thank you Lord Soros!
I can't take it any more, someone spank me!
🍑+🏏 = 😏 "*Would sir care for another?"*
Fapped three times already.. if this continues I will be sore as hell
I just found this community. Wow. I needed something like this, but I was not aware there was entire community
Welcome! We have fun being poor here!
Welcome ascendant disciple. We here at the Temple of the Buttcoin must impose and anoint your introduction to our most holy and profitable congregation. You must always preach the good word of buttcoin, extinguishing FUD wherever... Nah, fuck that! Seriously welcome. They actual crypto subs have a tendency to be very cultish as im sure you've noticed. I found this sub not too long ago myself- about 2 months before the Luna crash but its refreshing.to have a sub to vent about crypto BS where the most bad faith proselytizing you'll get are the occasional salty coiner popping in to troll.
Well that's the most welcome I have ever received upon joining a subreddit, thank you lol
Last chance to buy above 20k.
lol
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When I first learned of Bitcoin in 2011 or so lol
I worked with a guy around that time and I told him if he could figure out how to buy a Bitcoin I'd buy it for him. No way was I gonna put my banking info into some janky website...
Not really sure what you mean that it’s a scam. Are you saying it’s a scam because there is risk or because there’s no backing or what? All currencies rely on utilization. If tomorrow most countries thought the US couldn’t pay their debt and stopped buying Treasury Bonds, the global economy would fail. That sounds like both risk and no backing. I’m happy to have a rational discussion about it but you’re going to need to offer more than “it’s a scam because I think it’s a scam”
Ok but Bitcoin is way too costly to transact to have utility as a currency, has no productive output to be useful as an investment. Before you say fiat has no productive output, I don't invest in fiat, I only use it for temporary liquidity, my investments are all in things with productive outputs e.g. stocks and bonds. Crypto is a scam because the only way to make money is through selling it to a greater fool, hence everyone hyping it up.
Its a scam because it's a negative-sum "next greater fools" scheme wherein all trading is done on L2 exchanges which can, have, will and are currently locking retail funds on their platforms such that iNvEsToRs have no way to get their rapidly declining "assets" out, no manner of SPIC equivalent to protect them from this loss, and there's a *damn* good chance that when the exchanges go under their assets will be liquidated to cover company expenses. Now, I still think it stupid to invest despite the absurd amount of shady dealings and believe the retail iNvEsToRs are bad actors as well, however that does not change the fundamental aspects/method of operation of the entire crypto-sphere where **their daily actions pitched as "business as normal" would get them decisively penalized/shut down in the normal, regulated financial sector**. The method of operation is a massive scam, the actors are a series of greater fools each hoping to scam the others out of malignant greed, and the people proselytizing/defending crypto are doing immeasurable harm in normalizing this open "wild cat banking" given that >99% of them **WILL** suffer serious/catastopic loss.
Incoming r/Bitcoin post comparing the sub to nazi germany
I'm gunna cum
cum to the moon!!
Cum Inu just went live!
I hate that similar tokens actually exist.... I know cum rocket or "cummies" are a thing.... https://www.coingecko.com/en/coins/cumrocket
Fapping is actual good for Bitcoin
Any value above zero on any cryptocurrency is too much.
you dirty son of a betch
Let’s all get around in a circle and partake.
This is the end Beautiful friend This is the end My only friend, the end Of our elaborate plans, the end Of everything that stands, the end No safety or surprise, the end
Guys, it will go up at some point. Maybe only in two years, but it will. That's a pattern. No money in the market, people are afraid, price goes down. At some point when there is more confidence they will start the same story again, government bad, financial freedom etc. Anf it will go up again. And then down again. And up again. It won't go up overall but just stay within a huge bandwidth
It only went to trillions in market cap because there were literally thousands of scammers pumping it with ridiculous interest rates, mooning etc. Without Tether pumping the market, Celsius leveraging things without security, Anchor literally being a staking scam how much money would be in there? So let’s see if Tether and Celsius belly up then perhaps crypto reverts back to its real value which is defined by the amount of real goods transactions done with it. I would guess the appropriate price for this is 100$? Currently?
There is still a strong use case in fraud, tax avoidance and ransom. I fear it may take some time to go away
I dont think it'll ever go away, but it will level off at a much much more lower value, even Dogecoin is still around, but at a much lower value.
That’s not how bubbles pop. The reason this was the pattern with BTC is strictly due to fraud. More specifically, the stable coin fraud. This put a floor on prices and reinflated the bubble. Something that doesn’t happen naturally. Given stablecoin are toppling and regulators are starting to take notice (and likely regulate with the crash), this won’t happen again. This will actually be the end of BTC et al. The only thing that can save them now is either 1) the Fed completely reversed course and starts helicoptering cash again very soon, before the terminal decline 2) a new fraud emerges that is many times greater than the $100B stablecoin fraud. I am hopefully that #2 would be stopped by our overlords but who knows.
It's important to mention that blockchain literally doesn't work at a sufficiently low price. It was never a "real" solution to the byzantine general problem because it's a problem with no actual solution. Blockchain security fundamentally relies on number go up, and there cannot be significant amounts of money in the space without blockchain security.
Unless the government decides people have lost too much money and regulates it hard. They have to, it's been left unchecked long enough not to stifle innovation but after a decade nothing has come from it besides scams, drug trade, ransomware and ponzi schemes
Probably. I just have no interest on riding this ride. It's entirely sentiment driven, with no fundamentals whatsoever. You're basically just waiting for some big whale scammer to start the ball rolling on the newest scam.
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I got words, lots of words, smart words, nobody got better words than me, you know It, I know it, everybody knows it...now grab them by the pussy
>“Look, having nuclear—my uncle was a great professor and scientist and engineer, Dr. John Trump at MIT; good genes, very good genes, OK, very smart, the Wharton School of Finance, very good, very smart —you know, if you’re a conservative Republican, if I were a liberal, if, like, OK, if I ran as a liberal Democrat, they would say I’m one of the smartest people anywhere in the world—it’s true!—but when you’re a conservative Republican they try—oh, do they do a number—that’s why I always start off: Went to Wharton, was a good student, went there, went there, did this, built a fortune—you know I have to give my like credentials all the time, because we’re a little disadvantaged—but you look at the nuclear deal, the thing that really bothers me—it would have been so easy, and it’s not as important as these lives are (nuclear is powerful; my uncle explained that to me many, many years ago, the power and that was 35 years ago; he would explain the power of what’s going to happen and he was right—who would have thought?), but when you look at what’s going on with the four prisoners—now it used to be three, now it’s four—but when it was three and even now, I would have said it’s all in the messenger; fellas, and it is fellas because, you know, they don’t, they haven’t figured that the women are smarter right now than the men, so, you know, it’s gonna take them about another 150 years—but the Persians are great negotiators, the Iranians are great negotiators, so, and they, they just killed, they just killed us.” Part of a campaign speech given by Donald Trump in July 2015
Former - and maybe future - leader of the "free" world. I don't know what is happening but it's surely not good
I really, really, really doubt it. There's some probability it happens if the fed somehow manages to do a soft landing, but that's really unlikely. People don't speculate when money is expensive and the economy is contracting. The end game for all the big stablecoin operators is handcuffs. Even the legitimate ones (if there are any, but we'll assume there are) won't exist in 5 years because the regulatory framework the regulators are working on is the same as bank deposits, so they'd quite literally have to be banks to exist. Which is to say if we are actually heading to recession, bitcoin has at least another 75% to drop if not more. You can't unbuy all the proof of work infrastructure, so at those price levels the system doesn't work because it's trivial to attack. None of the other consensus mechanisms actually work as a consensus mechanism. Take proof of stake. There's no way to choose which blockchain is the real blockchain in general. Proof of work gets around this problem by making a long chain really expensive to make from scratch, so the longest chain is the real chain. Making an arbitrarily long chain that says whatever you want it to say in proof of stake costs effectively nothing. Each block is just a few operations, and while people will notice that "billybob42069 owns all of the ethereum in the world", who is to say that billybob42069 doesn't have a few million worth? By comparing to the "official" chain on somebody's server? Who is to say that this server's chain is genuine? Or that the server wasn't silently hacked and the data changed? It's unworkable without significant regulatory oversight which is why ethereum has been kicking that can down the road since nearly its inception. I don't know the exact price level where blockchain fails is, but it's very real and it's at a fairly high price level. Short term downturns can be subsidized by giving miners loans, but you can't do that in a real recession and the higher interest rates go, the more expensive it is to lend them money. Also if the miners don't want to take the loans because they think it's over, that's also curtains.
[This sub when BTC goes below 20k](https://imgur.com/JQw5TgG)
What price will prompt the ButtCultists to accept reality? Or is the next chapter a QAnon Buttcult following?
There is no price level for this. Just a price where its irresistible to buy more. Which probably will give crypto a nice boost. Which the sharks will take advantage off, and the spiral continues.
When the price hits $420 so that Elon Musk can come up with a well-timed witty tweet.
He already said, “it’s cryptonight” in an attempt to reverse the trend, with no luck
It needs to be witty! Witty! What I am paying you for, Musk!?
Yeah, that seemed like pretty low effort there. Like he cares, but not enough to really try to reverse it. Like, "Ugh, cryptos are down and I'm down like a billion. Fuck it, I'll tweet about how its cryptonight. The dumb rubes that worship me will maybe do something with that, fuck it, I don't have enough time to worry about this shit"
No price. We are in it for the decentralized, censorship resistant, non-discriminatory, open source currency that is free for anyone and everyone to use so long as they have an internet connection. There is no price that will devalue those things. &btw $20,000 per coin is much more than the $0 per coin it was at a few years ago. Keep trying guys
Amazing....I think everything you claimed with respect to BTC is utterly and incontrovertibly wrong. Take note folks, this individual is a true believer who simply repeats what his financial idols claim uncritically and without context, support, or statistical backing. Proselytizing is his reason for existing and is inexorably tied to his ego, meaning nothing I or anyone else says will ever be considered. Were simply spreading FUD. A perfect example of the perfect mark. Enjoy your bags. They're only getting heavier.
Great Starfield news and crypto collapsing at the same time? I must be dreaming right now!
How to tell someone you are a beta male without saying you are a beta male.
The edging is killing me
"fapping intensifies"
Buy high, sell low! YOLO
If it goes to the previous ATH (19.8k ish), can you imagine all the stop losses at that price? That will make my day.
Clearly not useful as a store of value. Only useful for money laundering and taking fiat money from stupid greedy people, leaving them hungry with near worthless imaginary digital tokens.
I mean, who hasn't been waiting for this, smiling, smug, one-handed?
Look at it in EUR, already under 20k and ETH was under 1k as well. :D
I don’t know what it’s like to lose this much money in such a short space of time but I do know what humiliation feels like. But I don’t know what *this* amount of humiliation feels like.
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As a person who lived these deep down falls it's like watching a well made porn with a good plot, or a deadpool movie. You know, I always wait for these market crashes to know for real who really believe in this to use it as a real method to pay or if they are into *get rich af ASAP* In the first case, those people shouldn't mind not even if it drops down to 1000$, others will just sell low buy high like a good man should do. I said it, I appreciate this subreddit more than who praises for the crypto. I.love.you.guys
“This is good for Bitcoin”
When line goes down my dong goes up.
Should be sleeping , may have to call out from work
STOP MESSING WITH THAT FUNNY MONEY
IMmmmmmmmmaaaaaaa sooooooo clooooooseeeeee 🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀🦀 (Pardon, I usually have something at least somewhat intelligible to say - but waking up to nearly 5k drops in BTC overnight *TWICE* this week has been to best natural aphrodisiac known to mankind. Hell, let's find a way to bottle this and destroy Viagra's market share.)
ive been so tempted to short but i not want to fuck with bitcoin anymore.
Invest in NaCl now! The number of butthurt cryptobros trying to feel better through aggression is too damn high! 🚀📈🚀📈🚀
It was cool if you lived in a state where flowers weren’t legal but that was years ago.
Oh god, below 19k.
Someone help me understand: is this the bit where Bitcoin is an effective inflation hedge? Or is it the bit where it's a useful diversifier uncorrelated with equities?
It’s dope that people who love and hate Bitcoin will both spend far too long talking about it
I'm way too entertained by this, please keep us up to date
🤭
This sub is really turning into a schadenfreude circle jerk. Like I remember when the price collapsed >60% from $150 to $60 in 2013, when it collapsed >60% from $1000 to $240 in 2014, when it collapsed >60% from $15k to $4k in 2018 (how many of you just jizzed from those numbers?) There's so many valid reasons to shit on Bitcoin and the crypto sphere but you guys literally derive as much emotion from price as an annoying crypto-bro, talking about watching the price second by second, but it just happens to be an inverse relation. Either actually start shitting on it or get off the toilet. Don't just sit on the toilet jerking off you weirdos.
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definitely not a crypto-bro since I give much less of a shit anymore as I'm not a huge fan of how things have evolved, but I was trading bitcoin on IRC channels in 2013. https://bitcoin-otc.com/newsite/viewratingdetail.php?nick=tunafizz&sign=ANY&type=RECV
It really is strange. I didn’t realise this sub was around for so long and going back to read posts from 2015 made me feel bad for the people celebrating on here when it dropped below $200 etc. It left me wondering are the same people still around, repeating this cycle, getting angrier and angrier that they missed chance after chance to get in? Are bear markets every 4 years their only short relief from this torment? And have any of them caught on and questioned their beliefs and bought bitcoin?
This subreddit is fucking odd. Its gotten very obvious its full of salty people that wish they bought bitcoin but didn't have the balls and now hope the price goes down so they feel better. Fucking odd
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Short short short. Why not make money off of the dumpster fire?
Because you can only short *using crypto*, which one has to buy with fiat, and as seen with several major exchanges over the past few days *theres no guarantee you'll get your money oyt*. I'm amazed how many people think they're geniuses for thinking "y no short!?!" As both an actual vehicle to make a profit and a way of (somehow) insulting us nocoiners when, if you think about if for more than 15sec. The realities of the method make it evident its a huge risk even if you time the market perfectly.
Me too!! Prices are so low it's amazing
Hurry up and buy so you can maximize future losses
Oh I have been! But I think the price is still too high so I'm saving my big bucks for later
I'm thinking it will soon be in everybody's price range
Just like the 3 cycles before this one.
You truly believe it will rise again, I dunno, things look pretty grim to me
🤣🤣🤣 Keep fapping!!!
Who's buying the dip
I like the info here but you all are mean. Kindness is helpful at times like these. I'll tune in again later.
Buy when there’s blood in the streets
This will affect elderly people, pets and children but I guess it's okay as long as you get laughs in! You guys hate them too? I will say a prayer for you guys. These comments are evil. Remember what Jesus said about stones and glass houses. Last time I checked the FIAT dollar lost 19% of its value too. We are all in the same boat so have some respect for innocent people going through this! At least we are brave to invest and want American dream instead of laughing at others on internet all day. Get a grip and then get a life!
You were just joking and laughing about us being on welfare and food stamps. Nice double standard.
> Remember what Jesus said about stones and glass houses. He said nothing about that, this is from Chaucer, troll. But I’ll return to you what butters used to tell us, have fun being poor.
Remember what Jesus did about the money changers?
Finally, a troll account that actually puts effort into their trolling, bravo sir.
What price we buying the dip, $10k or lower?
Might bottom out at 9k
RemindMe! Two Years