• "Spreading the ideas of freedom loving people on matters regarding metals, finance, politics, government and many other topics"

Crypto is Crashing HARD - opportunity.....

Jodster

Always wrong
Silver Miner
Survivor
Joined
Apr 4, 2010
Messages
2,291
Reaction score
3,248
You all should go back and read page one of this thread fr May 11th.
I have zero crypto, therefore zero bias. But I DO remember learning about Bitcoin at $600 and my wife talking about it as nonsense. A fortune missed.
However one should remember the coins you are now chasing are the same ones I was chasing at $600. Think about that.
The only thing that has changed is the hype.
For what it’s worth, you all should be dumping what you got for Theta and Theta fuel.
It is the only crypto with intrinsic value (bandwidth) and it’s at firesale prices. Billion dollar companies will soon be backing it when BTC fails. The difference is intrinsic value. You’re all speculating on Picasso’s and NFT’s with any crypto; unless it’s a mule like Theta.
Theta equals bandwidth.
 

Mujahideen

Owner Operator
Midas Member
Site Supporter
Survivor
Joined
Mar 31, 2010
Messages
15,149
Reaction score
31,101
Location
OTR
BTC is almost like a government currency with 21 million as it’s hard limit. As long as people accept it, it’s going to trend upward against government currency in the long run.

If people get too carried away with it, the price will correct.

It utilizes the block chain, it’s open source, it’s pretty simple and that’s what gives it value. Currency doesn’t have to be complicated. People just want clear and fair rules.
 

Nomis Elpmis

Minimalist
Silver Miner
Joined
Apr 2, 2010
Messages
551
Reaction score
517
If you sort the first page of 'Coinmarket Cap' for '7 day % performance' best to worst, BSV is ranked #15. However, there are 11 stable coins and 2

exchange tokens ahead of BSV in performance. If you don't count the stable coins and exchange tokens (they do have utility though), BSV is #2

best performing in this bear market (of the top 100 coins by market cap) at the moment. But a blockchain protocol called Helium (HNT) is #1. Its

designed for the 'internet of things' and uses a network 'proof of coverage' consensus. Never heard of Helium until I saw it hold its value in this

selloff. Its not a 'proof of work' consensus, so not to worry, it's not secure. Bear markets cause 'flight to quality' and in crypto that means 'flight to

utility', coins with real use cases.
 

Nomis Elpmis

Minimalist
Silver Miner
Joined
Apr 2, 2010
Messages
551
Reaction score
517
2 more USD stable coins have lost their peg. (market caps listed on the right)

dp.jpg
 

chieftain

Trump got them plump
Gold Chaser
Joined
Jan 4, 2020
Messages
6,036
Reaction score
10,440
Just found out a friend of a friend was just wiped out because of his BTC shenanigans. Story goes he bought in a month ago at the dead cat bounce...
 

Mujahideen

Owner Operator
Midas Member
Site Supporter
Survivor
Joined
Mar 31, 2010
Messages
15,149
Reaction score
31,101
Location
OTR

More exchanges having problems.
 

<SLV>

Platinum Bling
Sr Site Supporter
Platinum Bling
Joined
Apr 1, 2010
Messages
7,037
Reaction score
12,223
Just found out a friend of a friend was just wiped out because of his BTC shenanigans. Story goes he bought in a month ago at the dead cat bounce...
And he just sold? You only lose if you sell for a loss.
 

the_shootist

Good luck!
Eagle
Mother Lode
Joined
May 31, 2015
Messages
83,250
Reaction score
184,109
Just found out a friend of a friend was just wiped out because of his BTC shenanigans. Story goes he bought in a month ago at the dead cat bounce...
Wasn't that about the time some folks here were telling us all to buy buy buy crypto?
 

EO 11110

(censor) from a long line of (censors)
Survivor
Site Supporter ++
Mother Lode
Joined
Jul 31, 2010
Messages
22,015
Reaction score
24,769
Location
clown world
Oh please. Crypto was discussed long before the top and in fact you are still talking about it today. Not exactly an indicator.
volume matters. there were many times more threads at the top than not at the top. so much so that i posted about how this place had morphed from gold is money to crypto is money. the crypto pumping far FAR exceeded the gold/silver threads

the ultimate is the fact that this was happening on a GOLD IS MONEY forum. a clearer indicator of a top doesnt exist.....as the LAST of potential buyers were pumping it

similar to taxi drivers/shoeshine boys giving stock tips in the tech 2000 bubble
 

EO 11110

(censor) from a long line of (censors)
Survivor
Site Supporter ++
Mother Lode
Joined
Jul 31, 2010
Messages
22,015
Reaction score
24,769
Location
clown world
let's quantify the crypto is money top tick action to today -- using the two most popular codes on the crypto is money website (formerly gim)

bitcoin -- down from 69 to 21.....70 percent loss

ethereum -- down from 47 to 11......77 percent loss

again, we should've seen it coming by the action at the GOLD shoeshine boy forum
 

Mujahideen

Owner Operator
Midas Member
Site Supporter
Survivor
Joined
Mar 31, 2010
Messages
15,149
Reaction score
31,101
Location
OTR
volume matters. there were many times more threads at the top than not at the top. so much so that i posted about how this place had morphed from gold is money to crypto is money. the crypto pumping far FAR exceeded the gold/silver threads

the ultimate is the fact that this was happening on a GOLD IS MONEY forum. a clearer indicator of a top doesnt exist.....as the LAST of potential buyers were pumping it

similar to taxi drivers/shoeshine boys giving stock tips in the tech 2000 bubble

The flip side is true too. When everyone starts poo pooping btc we are likely near the bottom. I don’t think we are quite there yet.

I don’t know why people make a big deal about btc, it’s almost as if some people are insecure about gold’s position that they feel the need to mention it every time btc is the topic.

btc is just a tool to fight central banks, it’s not a gold replacement since they aren’t even on the same fundamentals.

bitcoin -- down from 69 to 21.....70 percent loss

The federal reserve note will be at a bigger loss of purchasing power in the long run than btc.
 

EO 11110

(censor) from a long line of (censors)
Survivor
Site Supporter ++
Mother Lode
Joined
Jul 31, 2010
Messages
22,015
Reaction score
24,769
Location
clown world
The flip side is true too.
it would be - in a free market. should be a great entry point for gold/silver too.

what is true is that at the time when this forum turned into crypto is money -- the gold buyer at that time is far FAR ahead of the crypto buyer. assessing the dead and buried is great way to look for investment ideas
 

Casey Jones

Train left the station...
Gold Chaser
Site Supporter ++
Platinum Bling
Joined
Apr 4, 2020
Messages
10,701
Reaction score
17,227
Location
Down the road from the Kaczynski ranch
That's a myth designed to keep bag holders holding to the grave.....RIP
The hodler community is constantly deliberately confusing, "digital currency" with "store of value" - and, the bugaboo, a chance to profit.

All three of those, conflict. First, a currency is a means of TRADE, not something to hold onto. A store of value, is just that - it stores value. It doesn't grow value nor does value evaporate. It is stored.

A chance to profit, means, a speculative tool. Buy it, because the hordes are going to buy in behind you. Be first in - and, unspoken, be first out and off.

Think about this. If the rise of bitcoin's trading price vis-a-vis dollars, is important...then the critical thing here, is to pick a time to SELL. For dollars.

A speculative tool.

A store of value, suggests that what is held, is in fact valuable - and you'd hold it, for lean times or for your children. A source of wealth and security.

A currency, is something you'd put the results of your work into - to exchange with the butcher, the baker, the carbon-credit maker. It, like dollars, would be a placeholder in your wallet. If, in normal times, you had excess dollars...you'd put them in a bank, or investment tool, to put them to productive use, and gain dividends or interest.

Now. Does bitcoin pass ANY of these tests, fill any of these needs? It does not. But the tub-thumpers are pushing it, telling the gullible that it's ALL of these things.
 

Lancers32

You know...the thing
Site Supporter ++
Platinum Bling
Joined
May 10, 2020
Messages
5,918
Reaction score
8,330
Location
NC
volume matters. there were many times more threads at the top than not at the top. so much so that i posted about how this place had morphed from gold is money to crypto is money. the crypto pumping far FAR exceeded the gold/silver threads

the ultimate is the fact that this was happening on a GOLD IS MONEY forum. a clearer indicator of a top doesnt exist.....as the LAST of potential buyers were pumping it

similar to taxi drivers/shoeshine boys giving stock tips in the tech 2000 bubble
NFT's kinda gave it away.
 

Mujahideen

Owner Operator
Midas Member
Site Supporter
Survivor
Joined
Mar 31, 2010
Messages
15,149
Reaction score
31,101
Location
OTR
it would be - in a free market. should be a great entry point for gold/silver too.

what is true is that at the time when this forum turned into crypto is money -- the gold buyer at that time is far FAR ahead of the crypto buyer. assessing the dead and buried is great way to look for investment ideas

I think gold and btc are different animals.

No one is building infrastructure for gold. Btc went up 10x since the pandemic and then just now went back to the 200 day average. I don’t see a catalyst for gold to do that.

When the current macroeconomic situation ends, gold is only going to move slowly, probably not keeping up with inflation.
 
Last edited:

Ebie

Midas Member
Midas Member
Joined
Apr 9, 2010
Messages
9,131
Reaction score
3,600
The main "problem" with Btc is that the future issuers of gov't digital currency, will not want competition...
 

ZZZZZ

Midas Member
Midas Member
Midas Supporter
Joined
Dec 23, 2017
Messages
10,154
Reaction score
23,779
Location
Northern Arizona
I think gold and btc are different animals.

No one is building infrastructure for gold. Btc went up 10x since the pandemic and then just now went back to the 200 day average. I don’t see a catalyst for gold to do that.

When the current macroeconomic situation ends, gold is only going to move slowly, probably not keeping up with inflation.

As the saying goes, "Slowly at first, then all at once."

Up $24 as I type, not too bad considering how weak it has been.
.
.
 

Mujahideen

Owner Operator
Midas Member
Site Supporter
Survivor
Joined
Mar 31, 2010
Messages
15,149
Reaction score
31,101
Location
OTR
Gold won't go to zero. Does everybody think cryptos can't go to 0?

The ones that are dog shit will, the ones that aren’t won’t.

There is a whole lot of dog shit that needs to be flushed out. This crash back to reality is actually a very good thing.
 

stAGgering

Gold Member
Gold Chaser
Site Supporter ++
Joined
Apr 11, 2010
Messages
1,424
Reaction score
1,419
The main "problem" with Btc is that the future issuers of gov't digital currency, will not want competition...
Govt aside, as the oligarchs have ownership thereof.
Yes govt may be held accountable for crypto 'take over'.
But the oligarchs constructed and sold the first crypto and had the masses construct and pay for crypto infrastructure.
Now, regain control of said structure and F us all dry like the Dark Ages.
Mmmmmmm porridge.
 

spinalcracker

On a mail train.
Sr Midas Sup +++
Survivor
Platinum Bling
Joined
Apr 1, 2010
Messages
6,984
Reaction score
20,208
Location
On a mail train.
Gold won't go to zero. Does everybody think cryptos can't go to 0?


does that depend on how one defines zero?

isn’t gold only worth what one can get for it?

what if no one wanted your gold? ….would that be zero gold?

wouldn’t that be the same for Bitcoin?
 

stAGgering

Gold Member
Gold Chaser
Site Supporter ++
Joined
Apr 11, 2010
Messages
1,424
Reaction score
1,419
does that depend on how one defines zero?

isn’t gold only worth what one can get for it?

what if no one wanted your gold? ….would that be zero gold?

wouldn’t that be the same for Bitcoin?
In Yugoslavia War '92, gold did go to zero.
Food on the other hand...
Toiletries and ammo worth more by a wide margin.
 

Juristic Person

They drew first blood
Platinum Bling
Joined
Mar 31, 2010
Messages
6,507
Reaction score
5,306
The organizers of future world digital gov't currency will not be friends of bitcoin.

let's quantify the crypto is money top tick action to today -- using the two most popular codes on the crypto is money website (formerly gim)

bitcoin -- down from 69 to 21.....70 percent loss

ethereum -- down from 47 to 11......77 percent loss

again, we should've seen it coming by the action at the GOLD shoeshine boy forum
Or you can look at it as...

BTC up to $21,000 from $1

ETH up to $1200 from $.01

GOLD up to $1800 from $20

Not knocking gold at all. Gold is money. But Crypto also has it's place. It's just a matter of perspective.
 

BeefJerky

Gold Member
Gold Chaser
Site Supporter ++
Joined
Mar 31, 2010
Messages
1,481
Reaction score
2,402
The ones that are dog shit will, the ones that aren’t won’t.

There is a whole lot of dog shit that needs to be flushed out. This crash back to reality is actually a very good thing.
If there was a rebound what's stopping more cryptos being created? The supply is endless and the ability to create can be done by a high schooler.
 

BeefJerky

Gold Member
Gold Chaser
Site Supporter ++
Joined
Mar 31, 2010
Messages
1,481
Reaction score
2,402
oil has been in the negative range not too long ago, and is more important to the world than crypto or gold.
That was only something that could have been had by an industry owner. It was a result of no storage. No one was able to actually get negative oil.
 

BeefJerky

Gold Member
Gold Chaser
Site Supporter ++
Joined
Mar 31, 2010
Messages
1,481
Reaction score
2,402
Or you can look at it as...

BTC up to $21,000 from $1

ETH up to $1200 from $.01

GOLD up to $1800 from $20

Not knocking gold at all. Gold is money. But Crypto also has it's place. It's just a matter of perspective.
Unfortunately over 1/2 of Bitcoin holders are underwater. I like your perspective though. The same perspective of the top line in an MLM scheme.
 

Voodoo

Midas Member
Midas Member
Sr Site Supporter
Platinum Bling
Joined
Mar 31, 2010
Messages
7,599
Reaction score
12,623
Location
Deep Underground Bunker
volume matters. there were many times more threads at the top than not at the top. so much so that i posted about how this place had morphed from gold is money to crypto is money. the crypto pumping far FAR exceeded the gold/silver threads

the ultimate is the fact that this was happening on a GOLD IS MONEY forum. a clearer indicator of a top doesnt exist.....as the LAST of potential buyers were pumping it

similar to taxi drivers/shoeshine boys giving stock tips in the tech 2000 bubble

There are a lot more posts now that it's down then back when it was hitting highs. That's no contrary indicator. Plus, I'm not sure this is a good comparison anyway because in many ways these two are direct competitors. Many bought Bitcoin who would have otherwise turned to gold.
 

Mujahideen

Owner Operator
Midas Member
Site Supporter
Survivor
Joined
Mar 31, 2010
Messages
15,149
Reaction score
31,101
Location
OTR
There are a lot more posts now that it's down then back when it was hitting highs. That's no contrary indicator. Plus, I'm not sure this is a good comparison anyway because in many ways these two are direct competitors. Many bought Bitcoin who would have otherwise turned to gold.

Would they have bought gold or gld?
 

Mujahideen

Owner Operator
Midas Member
Site Supporter
Survivor
Joined
Mar 31, 2010
Messages
15,149
Reaction score
31,101
Location
OTR
If there was a rebound what's stopping more cryptos being created? The supply is endless and the ability to create can be done by a high schooler.

I think that is a sign that the dollar itself is funny money.

Btc, a simple algorithm, is more real than a frn.
 

EO 11110

(censor) from a long line of (censors)
Survivor
Site Supporter ++
Mother Lode
Joined
Jul 31, 2010
Messages
22,015
Reaction score
24,769
Location
clown world
There are a lot more posts now that it's down then back when it was hitting highs. That's no contrary indicator. Plus, I'm not sure this is a good comparison anyway because in many ways these two are direct competitors. Many bought Bitcoin who would have otherwise turned to gold.
i just cant absolve myself of not recognizing the implications of the shoeshine boys at gim2. at the time i didnt arrive at the final conclusion - utter destruction of crypto prices. merely musing about how gim became cim is not enough. i missed connecting it to the top at the time. but not now, it is crystal clear

it's true what you say - there were a handful of hardcore crypto supporters. the gim shoeshine boys joined the hardcore at the top of the market. that's the indicator that should've told us where we were
 

Lancers32

You know...the thing
Site Supporter ++
Platinum Bling
Joined
May 10, 2020
Messages
5,918
Reaction score
8,330
Location
NC
That was only something that could have been had by an industry owner. It was a result of no storage. No one was able to actually get negative oil.
Oil went to negative 38 bucks and I can remember some shareholders of USO might actually have owed money if the situation persisted. Don't know all the details but yeah it was a storage problem.
 

Lancers32

You know...the thing
Site Supporter ++
Platinum Bling
Joined
May 10, 2020
Messages
5,918
Reaction score
8,330
Location
NC
I think that is a sign that the dollar itself is funny money.

Btc, a simple algorithm, is more real than a frn.

Really? I still can't pay Duke Energy in Bitcoin. No one else either.
 

Lancers32

You know...the thing
Site Supporter ++
Platinum Bling
Joined
May 10, 2020
Messages
5,918
Reaction score
8,330
Location
NC
The real fun starts when 20K goes. Can you imagine the stop losses around that number?
 

Mujahideen

Owner Operator
Midas Member
Site Supporter
Survivor
Joined
Mar 31, 2010
Messages
15,149
Reaction score
31,101
Location
OTR
Really? I still can't pay Duke Energy in Bitcoin. No one else either.

Can’t use gold either. Isn’t gold real? I don’t see your point there.

Government is irresponsible with currency, they made the conditions for crypto possible.
 

the_shootist

Good luck!
Eagle
Mother Lode
Joined
May 31, 2015
Messages
83,250
Reaction score
184,109
Can’t use gold either. Isn’t gold real?
I doubt that will be true going forward. I believe we'll eventually see USD $100 bills blowing around in the gutter but not too many gold eagles laying there along side. Besides, I can see and hold gold. That makes it seem more valuable to me than digits on a computer screen but, that's just me. You know how negative I can be :summer: