Crypto is Crashing HARD - opportunity.....

[Juristic Person]

There is extreme fear in the market right now - I don't know where this bottoms out but I see this as a great buying opportunity. Crytocurrency is not going away. They say you should be buying when everyone else is selling...well it appears everyone is selling NOW.

Other factors at play here - like the dollar collapse, stock market crash, etc...and some of these cryptos will vanish - but the right investments now can make you a fortune later.

Let's ride this wave together. Thoughts?

 

[Mujahideen]

The crypto miners are getting hammered even harder. I’m pretty heavy on $RIOT and I am laughing at these prices.

The options premium on it is usually pretty high, I’ll be at a zero cost basis next year, hopefully.

 

[the_shootist]

My opinion only....

While its clear to me that I missed an opportunity to get in on BTC on the ground floor (along with stock companies like Apple, MSFT and Twitter), I have no regrets because I never thought of crypto currency (or the stock market for that matter) as a safe place to store my accumulated wealth (such as it is) in the first place.

I haven't changed my position on crypto. Most people here have a very different opinion of crypto and I have no argument with them....it's just the comfort level I have with software based wealth.

 

[BeefJerky]

Anyone who thinks crypto is a store of value or a currency after this week has a screw loose. There is nothing there.

If you know all cryptos are nothing then you are a crypto expert.

 

[dozer99]

The two small time Crypto's are going along for the ride. Good time to buy. I just went very heavy on SHIB.

*not a store of wealth, but a way to wealth.

 

[newmisty]

Crypto is an easy way to get people distracted from the actual important focal points and fundamental issues..

"Nope, nothing up my sleeve...."

 

[Juristic Person]

My opinion only....

While its clear to me that I missed an opportunity to get in on BTC on the ground floor (along with stock companies like Apple, MSFT and Twitter), I have no regrets because I never thought of crypto currency (or the stock market for that matter) as a safe place to store my accumulated wealth (such as it is) in the first place.

I haven't changed my position on crypto. Most people here have a very different opinion of crypto and I have no argument with them....it's just the comfort level I have with software based wealth.

Do you see the FRN as a less risky investment than crypto?

Do you think the future of currency/transactions is digital?

 

[Nomis Elpmis]

There are real projects to 'invest' in after this sell off completes. This mirrors the issues of the 2000s 'dot com' boom and bust. Finding the 'diamonds in the rough' is the tricky part. My 'diamond in the rough' is Bitcoin BSV.

 

[Juristic Person]

Anyone who thinks crypto is a store of value or a currency after this week has a screw loose. There is nothing there.

If you know all cryptos are nothing then you are a crypto expert.

They are not all a store of value. Many of them are software that have practical applications - and therein lies the value.

Is the dollar a store of value? At least with BTC there is a limit to home much is "printed". 21 million coins.

 

[Juristic Person]

The two small time Crypto's are going along for the ride. Good time to buy. I just went very heavy on SHIB.

*not a store of wealth, but a way to wealth.

I'm not a fan of SHIB but you could get a decent return at some point if you time it right.

 

[Juristic Person]

There are real projects to 'invest' in after this sell off completes. This mirrors the issues of the 2000s 'dot com' boom and bust. Finding the 'diamonds in the rough' is the tricky part. My 'diamond in the rough' is Bitcoin BSV.

As is knowing WHEN the sell off is complete and we've hit bottom. Only 3% of the world owns any cryptocurrency right now. You either believe it is the future or you don't. If it is, getting in at 3% is a nice ride to 100% in the future. Whether you "believe" in it or not, if crypto is the future, this is a great opportunity today. The internet was the last big thing and the crypto rate of adoption is double that.

 

[Mujahideen]

Anyone who thinks crypto is a store of value or a currency after this week has a screw loose. There is nothing there.

If you know all cryptos are nothing then you are a crypto expert.

There are plenty of people without access to banks that use crypto who will disagree with you.

 

[wastrel]

At least with BTC there is a limit to home much is "printed". 21 million coins.

The current limit is 21 million coins. That limit is set in the software. Software can be changed (that's why they call it software) at any time.

I'm not saying it ever will be changed. I'm saying it can be changed. Crypto has some useful functions, but please don't base any judgements about it on the supposed limit on number of coins.

 

[Juristic Person]

The current limit is 21 million coins. That limit is set in the software. Software can be changed (that's why they call it software) at any time.

I'm not saying it ever will be changed. I'm saying it can be changed. Crypto has some useful functions, but please don't base any judgements about it on the supposed limit on number of coins.

Of course it can be changed but it has a built in algorithm that halves the mining rate every 4 years. I wouldn't expect somebody to change the program. That would be a first...

 

[BeefJerky]

Do you see the FRN as a less risky investment than crypto?

Do you think the future of currency/transactions is digital?

The FRN at least has a country behind it. But I still don't want to hold that hot potato.

Digital is the future because it allo s for total control over people. But it isn't going to be some ledger that already exists.

All I know is if someone offers me an invisible coin that they made in their mom's basement for food I'm gonna laugh.

 

[Juristic Person]

The FRN at least has a country behind it. But ai still don't want to hold that hot potato.

Digital is the future because it allo s for total control over people. But it isn't going to be some ledger that already exists.

All I know is if someone offers me an invisible coin that they made in their mom's basement for food I'm gonna laugh.

But if they print it off a machine....

 

[BeefJerky]

I'm not a fan of SHIB but you could get a decent return at some point if you time it right.

Lets send Ukraine SHIB

 

[BeefJerky]

There are plenty of people without access to banks that use crypto who will disagree with you.

The unbanked El Salvadorans pretty much don't want anything to do with it.

 

[Juristic Person]

Lets send Ukraine SHIB

I'm not on the Ukraine bandwagon. That government is corrupt as hell. I'm siding with Russia on this one.

 

[Scorpio]

another opinion

Ross Clark​

Crypto is dead​

9 May 2022, 6:06am


When Britain voted for Brexit, Macron boasted that Paris would eat the City of London’s lunch. It didn’t quite work out that way, with most league tables continuing to put London as the number one or two financial centre, with not a single EU city in the top ten. Emmanuel Macron's government has now announced that it has invited Binance, a crypto exchange site, to set up a European HQ in Paris. You have to ask: has Macron leapt on a bandwagon which has already started to lose its wheels?


The warning sign for cryptocurrencies is not so much that they have crashed – Bitcoin is down 50 per cent from its peak last November – but that they have become boring. Bitcoin has suffered many a crash before, yet bottom-feeders quickly rushed into the market and sent the price rebounding. This time around there is little sign of any enthusiastic speculation. On the contrary, a brief rally in March fizzled out as quickly as it had begun. Bitcoin now looks set to plunge below its previous peak of 31,776 reached last July.
Cryptocurrencies are little more than a pyramid scheme
Many thought that Bitcoin and other cryptocurrencies could turn out to be a hedge against inflation. Those hopes have been dashed. While most currencies have been devaluing against real-world assets, cryptocurrencies have been falling in value faster. As for the other long-term incentive to hold Bitcoin – that it might provide a stable wealth store from the prying eyes of government – that started to decay a while ago as governments got better at tracking down cryptocurrencies.


So cryptocurrencies are no longer making anyone rapid fortunes, are no longer protecting against inflation, and governments are working out how to find them. What exactly is the attraction? They are clearly little more than a pyramid scheme: machines for redistributing wealth from players who are late into the gold rush to those who were early. And like all other pyramid schemes, they have a brief and finite life. Many of these new get-rich-quick schemes – like NFTs – have already come and gone.
Cryptocurrencies face not so much a rapid crash as a slide into nothingness. That a cryptocurrency exchange should want to take shelter in Macron's France, which is bound to end up regulating it to death, is the biggest ‘sell’ sign yet.
https://www.spectator.co.uk/writer/ross-clark
WRITTEN BYRoss Clark
Ross Clark is a leader writer and columnist who, besides three decades with The Spectator, writes for the Daily Telegraph and several other newspapers

spectator.co.uk/article/crypto-is-dead

 

[Stop Making Cents]

The only bigger suckers are people buying NFTs imo.

 

[Stop Making Cents]

That said, i need to find an ETF or something that invests in crypto and keep an eye on it. 90+% losses on crypto might make it worth while to scoop some up, if they drop that far.

 

[Silvergun]

Do you see the FRN as a less risky investment than crypto?

Do you think the future of currency/transactions is digital?

You're right that FRNs are being inflated away and its clear TPTB are pushing digital. I don't want to invest in currencies at all though. Fiat or digital. With gold/sliver being the exception, but it doesn't really meet that definition anymore besides us on this website and a small fraction of the world most do not see gold as "money" anymore.

Maybe I am wrong, wouldn't be the first time lol.

 

[Nomis Elpmis]

another opinion

Ross Clark​

Crypto is dead​

9 May 2022, 6:06am


When Britain voted for Brexit, Macron boasted that Paris would eat the City of London’s lunch. It didn’t quite work out that way, with most league tables continuing to put London as the number one or two financial centre, with not a single EU city in the top ten. Emmanuel Macron's government has now announced that it has invited Binance, a crypto exchange site, to set up a European HQ in Paris. You have to ask: has Macron leapt on a bandwagon which has already started to lose its wheels?


The warning sign for cryptocurrencies is not so much that they have crashed – Bitcoin is down 50 per cent from its peak last November – but that they have become boring. Bitcoin has suffered many a crash before, yet bottom-feeders quickly rushed into the market and sent the price rebounding. This time around there is little sign of any enthusiastic speculation. On the contrary, a brief rally in March fizzled out as quickly as it had begun. Bitcoin now looks set to plunge below its previous peak of 31,776 reached last July.
Cryptocurrencies are little more than a pyramid scheme
Many thought that Bitcoin and other cryptocurrencies could turn out to be a hedge against inflation. Those hopes have been dashed. While most currencies have been devaluing against real-world assets, cryptocurrencies have been falling in value faster. As for the other long-term incentive to hold Bitcoin – that it might provide a stable wealth store from the prying eyes of government – that started to decay a while ago as governments got better at tracking down cryptocurrencies.


So cryptocurrencies are no longer making anyone rapid fortunes, are no longer protecting against inflation, and governments are working out how to find them. What exactly is the attraction? They are clearly little more than a pyramid scheme: machines for redistributing wealth from players who are late into the gold rush to those who were early. And like all other pyramid schemes, they have a brief and finite life. Many of these new get-rich-quick schemes – like NFTs – have already come and gone.
Cryptocurrencies face not so much a rapid crash as a slide into nothingness. That a cryptocurrency exchange should want to take shelter in Macron's France, which is bound to end up regulating it to death, is the biggest ‘sell’ sign yet.
https://www.spectator.co.uk/writer/ross-clark
WRITTEN BYRoss Clark
Ross Clark is a leader writer and columnist who, besides three decades with The Spectator, writes for the Daily Telegraph and several other newspapers

spectator.co.uk/article/crypto-is-dead

I think this article is correct. If you look at a chart of Bitcoin (BTC), the tops of the 'double top' of this current cycle look blunt and don't come sharp blow off peaks like prior cycles. To me, that shows sentiment has changed and there isn't the same 'fomo' enthusiasm.

 

[Casey Jones]

You're right that FRNs are being inflated away and its clear TPTB are pushing digital. I don't want to invest in currencies at all though. Fiat or digital. With gold/sliver being the exception, but it doesn't really meet that definition anymore besides us on this website and a small fraction of the world most do not see gold as "money" anymore.

Maybe I am wrong, wouldn't be the first time lol.

Maybe gold and silver won't protect purchasing power from the coming collapse.

Maybe nothing will. Two things are happening: The dollar/gold relationship is now completely manipulated and artificial.

And, ANY sort of wealth, will buy less, as all products/articles/needs will be more dear.

There doesn't appear to be ANY way to ride this out unscathed. But I don't think Virtual Money is the answer.

 

[wastrel]

Of course it can be changed but it has a built in algorithm that halves the mining rate every 4 years. I wouldn't expect somebody to change the program. That would be a first...

A first? Really?

You know what a "fork" is? It's when they change the code. Sometimes people keep using the original version and some start using the new version; or sometimes everyone uses the new version. Look at this:

Link: wiki: List of Bitcoin forks

It's already been changed so many times they've got a whole wiki page devoted to keeping track of all the times they've done major changes to it.

Software changes. Not only that, almost all of it eventually simply goes away. It's ephemeral.

 

[Thecrensh]

I'm not a fan of SHIB but you could get a decent return at some point if you time it right.

I was doing "well" with my SHIB...something like 80% gains until a few weeks back. Of course the amount I put in was chump change....play money.

 

[Thecrensh]

Maybe gold and silver won't protect purchasing power from the coming collapse.

Maybe nothing will. Two things are happening: The dollar/gold relationship is now completely manipulated and artificial.

And, ANY sort of wealth, will buy less, as all products/articles/needs will be more dear.

There doesn't appear to be ANY way to ride this out unscathed. But I don't think Virtual Money is the answer.

I suspect you are close to the truth than anyone. I too feel that nothing is going to store wealth...everyone will lose something except the super powerful who will gain everything.

 

[Casey Jones]

I suspect you are close to the truth than anyone. I too feel that nothing is going to store wealth...everyone will lose something except the super powerful who will gain everything.

They won't, either.

They LIVE, in their leisure, off the fruits of civilization.

Destroy civilization, and they have nothing to live off.

This is gonna hit all of us...including the Davos simpletons.

 

[Mujahideen]

another opinion

Ross Clark​

Crypto is dead​

9 May 2022, 6:06am


When Britain voted for Brexit, Macron boasted that Paris would eat the City of London’s lunch. It didn’t quite work out that way, with most league tables continuing to put London as the number one or two financial centre, with not a single EU city in the top ten. Emmanuel Macron's government has now announced that it has invited Binance, a crypto exchange site, to set up a European HQ in Paris. You have to ask: has Macron leapt on a bandwagon which has already started to lose its wheels?


The warning sign for cryptocurrencies is not so much that they have crashed – Bitcoin is down 50 per cent from its peak last November – but that they have become boring. Bitcoin has suffered many a crash before, yet bottom-feeders quickly rushed into the market and sent the price rebounding. This time around there is little sign of any enthusiastic speculation. On the contrary, a brief rally in March fizzled out as quickly as it had begun. Bitcoin now looks set to plunge below its previous peak of 31,776 reached last July.
Cryptocurrencies are little more than a pyramid scheme
Many thought that Bitcoin and other cryptocurrencies could turn out to be a hedge against inflation. Those hopes have been dashed. While most currencies have been devaluing against real-world assets, cryptocurrencies have been falling in value faster. As for the other long-term incentive to hold Bitcoin – that it might provide a stable wealth store from the prying eyes of government – that started to decay a while ago as governments got better at tracking down cryptocurrencies.


So cryptocurrencies are no longer making anyone rapid fortunes, are no longer protecting against inflation, and governments are working out how to find them. What exactly is the attraction? They are clearly little more than a pyramid scheme: machines for redistributing wealth from players who are late into the gold rush to those who were early. And like all other pyramid schemes, they have a brief and finite life. Many of these new get-rich-quick schemes – like NFTs – have already come and gone.
Cryptocurrencies face not so much a rapid crash as a slide into nothingness. That a cryptocurrency exchange should want to take shelter in Macron's France, which is bound to end up regulating it to death, is the biggest ‘sell’ sign yet.
https://www.spectator.co.uk/writer/ross-clark
WRITTEN BYRoss Clark
Ross Clark is a leader writer and columnist who, besides three decades with The Spectator, writes for the Daily Telegraph and several other newspapers

spectator.co.uk/article/crypto-is-dead

Isn’t this a good thing? Get the speculators out.

Bitcoin was following the nasdaq, that’s not where it should be. I say let it crash and land into the hands of not Wall Street.

 

[stAGgering]

There is extreme fear in the market right now - I don't know where this bottoms out but I see this as a great buying opportunity. Crytocurrency is not going away. They say you should be buying when everyone else is selling...well it appears everyone is selling NOW.

Other factors at play here - like the dollar collapse, stock market crash, etc...and some of these cryptos will vanish - but the right investments now can make you a fortune later.

Let's ride this wave together. Thoughts?

Difficult for me to not view occurrence beyond "by design".
The Morgan Report guest Perez profiled my overview guess of crypto's lifespan.
Essentially, commoners invest and create infrastructure.
Some do excessively well... like those who exited before 1929.
Most who follow run right off the cliff.
BTC to $4500 or less.
USD trails with downward trend.
Instability across all markets and supplies.
White savior horse rides in with solution !
Govt based digital currencies around da world bra !
To then be joined as one crypto to rule them all.
The people ya fool !

Tolkien was not a retard, and "History does not repeat itself, it rhymes" - Twain.

 

[Juristic Person]

another opinion

Ross Clark​

Crypto is dead​

9 May 2022, 6:06am


When Britain voted for Brexit, Macron boasted that Paris would eat the City of London’s lunch. It didn’t quite work out that way, with most league tables continuing to put London as the number one or two financial centre, with not a single EU city in the top ten. Emmanuel Macron's government has now announced that it has invited Binance, a crypto exchange site, to set up a European HQ in Paris. You have to ask: has Macron leapt on a bandwagon which has already started to lose its wheels?


The warning sign for cryptocurrencies is not so much that they have crashed – Bitcoin is down 50 per cent from its peak last November – but that they have become boring. Bitcoin has suffered many a crash before, yet bottom-feeders quickly rushed into the market and sent the price rebounding. This time around there is little sign of any enthusiastic speculation. On the contrary, a brief rally in March fizzled out as quickly as it had begun. Bitcoin now looks set to plunge below its previous peak of 31,776 reached last July.
Cryptocurrencies are little more than a pyramid scheme
Many thought that Bitcoin and other cryptocurrencies could turn out to be a hedge against inflation. Those hopes have been dashed. While most currencies have been devaluing against real-world assets, cryptocurrencies have been falling in value faster. As for the other long-term incentive to hold Bitcoin – that it might provide a stable wealth store from the prying eyes of government – that started to decay a while ago as governments got better at tracking down cryptocurrencies.


So cryptocurrencies are no longer making anyone rapid fortunes, are no longer protecting against inflation, and governments are working out how to find them. What exactly is the attraction? They are clearly little more than a pyramid scheme: machines for redistributing wealth from players who are late into the gold rush to those who were early. And like all other pyramid schemes, they have a brief and finite life. Many of these new get-rich-quick schemes – like NFTs – have already come and gone.
Cryptocurrencies face not so much a rapid crash as a slide into nothingness. That a cryptocurrency exchange should want to take shelter in Macron's France, which is bound to end up regulating it to death, is the biggest ‘sell’ sign yet.
https://www.spectator.co.uk/writer/ross-clark
WRITTEN BYRoss Clark
Ross Clark is a leader writer and columnist who, besides three decades with The Spectator, writes for the Daily Telegraph and several other newspapers

spectator.co.uk/article/crypto-is-dead

Excitement and speculation are not the only draws to cryptocurrency. It's the basis for an entirely new financial system - one that is DECENTRALIZED - that is the attraction. ANd there are other applications as well. Imagine wanting to make large money transfers. You have to pull money out of a bank, send it to another bank, recipients sometimes wait days for funds. With crypto you can cut out the banks and send funds instantly...in a fraction of a second. There is an attraction there. In the case of Bitcoin it can be used as a storage of wealth. Invest in real estate and you are subject to taxes, maintenance fees, local regulations and ordinances or laws that can impact you property. Buildings call apart. Crypto doesn't do that. It avoids all of it. Billions recognize this and it's why they have begun moving money into these digital assets.

I'm not here advocating for Bitcoin or any other cryptocurrency. That's on you to research and decide if its right for you. I'm only trying to help by sharing my understanding of it. These up and down cycles are to be expected. There is a lot more going on that impacts the price of crypto (inflation, interest rate hikes, government regulation, war, etc).

But 100% disagree with anyone who will come out and say "crypto is dead". It's just beginning.

 

[Joseph]

Anyone who thinks crypto is a store of value or a currency after this week has a screw loose. There is nothing there.

If you know all cryptos are nothing then you are a crypto expert.

Yeah, you can always put your $$$ in a savings acct as a "store of value" - or the stock market ...

 

[BeefJerky]

I'm not on the Ukraine bandwagon. That government is corrupt as hell. I'm siding with Russia on this one.

I'm not either that's why I want to send them SHIB instead of the $47billion we're ready to ship over there.

 

[Juristic Person]

I was doing "well" with my SHIB...something like 80% gains until a few weeks back. Of course the amount I put in was chump change....play money.

It was just a pump n dump. I don't think SHIB is anything more than a meme coin.

 

[Juristic Person]

Isn’t this a good thing? Get the speculators out.

Bitcoin was following the nasdaq, that’s not where it should be. I say let it crash and land into the hands of not Wall Street.

But that's the opposite of what will happen. Wall Street crashes the price, shakes out the common folk and then buys it back up cheaper.

 

[BeefJerky]

Isn’t this a good thing? Get the speculators out.

Bitcoin was following the nasdaq, that’s not where it should be. I say let it crash and land into the hands of not Wall Street.

The speculators are the reason it went up. Crypto will wind up like metals. A few crazy hodlers and accumulators. Crypto is not even in the basement yet. It's still up on the 3rd floor.

 

[Cigarlover]

If 5k holds I might dip my toe in for a tiny piece. But probably not.
The dollar crashing? Crashed all the way up to 103 or so right now. This at a time when the US has added so many trillions to it's debt that it's barely worth keeping track of anymore.
The fed tightening and raising interest rates will make those dollars worth more. A they become more scarce anyone who has some will be boss.

 

[the_shootist]

Coinbase warns customers they may lose crypto if company goes bankrupt

Following an epic share price decline of more than 27% this week, Coinbase issued a stark warning to customers, your money is at risk if the crypto exchange goes bankrupt.

www.dailymail.co.uk

 

[TAEZZAR]

Maybe nothing will. Two things are happening: The dollar/gold relationship is now completely manipulated and artificial.

YUP !!!