Crypto is Crashing HARD - opportunity.....

[Mujahideen]

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

Good luck mailing or dropping off bullion to pay your electric bill. It’s not going to work like that

 

[Lancers32]

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.

You gonna compare something that has been around for 14 years with Gold and Silver? Bitcoin is up a lot since inception but so were a lot of high flying stocks that went bye bye in the dot.com bubble. Not saying Bitcoin is going away but I think it is just a speculation. Once I can go to the store and go online and pay with Bitcoin then I'll take it seriously.

 

[Mujahideen]

You gonna compare something that has been around for 14 years with Gold and Silver? Bitcoin is up a lot since inception but so were a lot of high flying stocks that went bye bye in the dot.com bubble. Not saying Bitcoin is going away but I think it is just a speculation. Once I can go to the store and go online and pay with Bitcoin then I'll take it seriously.

If the dollar falls, you aren’t paying the electricity bill with bullion.

Uncentralized Digital currency has a place somewhere.

 

[Lancers32]

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.

I think your point was Bitcoin was more real than a frn and no it ain't.

 

[Lancers32]

If the dollar falls, you aren’t paying the electricity bill with bullion.

Uncentralized Digital currency has a place somewhere.

Again I did not say I could or would pay with metal.

 

[Lancers32]

This morning Michael Saylor said that Bitcoin is the antidote for chaos. Well fcuk me and feed me beans.

 

[Mujahideen]

I think your point was Bitcoin was more real than a frn and no it ain't.

One is trending upwards in the long run and the other as a matter of fact has to trend down.

Btc is winning that argument right now

 

[Lancers32]

One is trending upwards in the long run and the other as a matter of fact has to trend down.

Btc is winning that argument right now

14 years is not my definition of the long run. Yeah the $ is shit but I have no intention of trying to hide out in a crypto currency.

 

[Casey Jones]

Good luck mailing or dropping off bullion to pay your electric bill. It’s not going to work like that

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.

Gold is of limited utility as a CURRENCY. It's bulky and not easily made into small units. And there's Gresham's Law - bad money circulates over good money, as people hold the Good Money.

It obviously can be used that way, but it's not the best way.

It's a STORE of VALUE.

If bitcoin has a place, it's as currency. But it's not working well there, either. People won't take money with wild swings in perceived value ($21k today vs $50k a few months ago).

Since it fails both as a store of value and as a currency, what is its true function?

Can you say "Bigger Fools," kids?

 

[Mujahideen]

14 years is not my definition of the long run. Yeah the $ is shit but I have no intention of trying to hide out in a crypto currency.

All btc has to do is appreciate against something that we all agree is shit. A lot of other currencies are worse off than the dollar also.

The trends are already set. The dollar isn’t getting better and btcs algorithm isn’t changing.

 

[ZZZZZ]

Listen to Billy Ray. I think he'd buy BTC around 12,000, "all the suckers will be cleared out by then."

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[Casey Jones]

If things get worse, and worse, and worse...I might buy bitcoin.

As currency, and to learn how to move it. I'm not in with the bitcoin fanboiz, but one thing they say is true: The dollar's pfukked.

With the Collapse unfolding before us, it may be that more merchants will consider taking bitcoin.

But I'm not going to "buy in" at any price. This was a pyramid; and it's on the right shoulder, now.

 

[Lancers32]

All btc has to do is appreciate against something that we all agree is shit. A lot of other currencies are worse off than the dollar also.

The trends are already set. The dollar isn’t getting better and btcs algorithm isn’t changing.

Is Bitcoin and other cryptos and crypto mining stocks the only thing you are invested in?

 

[ZZZZZ]

Madd Maxx still bullish.

Max Keiser: Bitcoin Pioneer
@maxkeiser
Hugging the 200 WMA like a champ $220,000 still in play #Bitcoin

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[Au-myn]

Relative Strength wise, it looks like Au has bottomed.

The chart on the left is a long-term P & F 3 x 75 box reversal scale chart.
A reversal upward to 450 is where the buy signal will occur a #2 Double Top (Market bottom) formation.

The chart on the right is a micro-scale (3 x 10) compared to the LT snapshot.
Nevertheless, we see the same pattern that formed on the LT chart. It took a year and one-half to form, issuing a buy signal at 70 in June. The tide is turning.

 

[#48Fan]

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

Short term, sure there's blood in the streets in the crypto market. Just a leading indicator of what's to come with the rest of the markets including PM's. The pain train is a choo chooin.

IMO, crypto (especially Bitcoin and Ethereum) will be the first to start rip-roaring when the future pan sell-off is losing steam. PM's will be shortly behind (paper as there will be no physical available).

Shoeshine boy, eh? I guess there are worse things to be called. I can't speak for anyone else, but the only thing I advocated was to dollar cost average into a crypto position. A little each week/month. Now, if anyone had done that since 2017 or so, they'd still be sitting pretty.

 

[Lancers32]

Get yer shine box 48.

 

[Mujahideen]

Is Bitcoin and other cryptos and crypto mining stocks the only thing you are invested in?

I really only “invest” in apple and TSMC and I suppose I “invest” in a monthly paying dividend portfolio with a couple high yielding closed end funds and qyld, on margin.

The other part of my portfolio is me buying slv, gdx and riot on margin and selling covered calls above the cost basis and me selling cash secured puts on those stocks below the cost basis.

Edit: I own zero crypto. I have no use for it. I’ve got emergency funds, operating funds and every other dollar gets put to work.

 

[Lancers32]

I really only “invest” in apple and TSMC and I suppose I “invest” in a monthly paying dividend portfolio with a couple high yielding closed end funds and qyld, on margin.

The other part of my portfolio is me buying slv, gdx and riot on margin and selling covered calls above the cost basis and me selling cash secured puts on those stocks below the cost basis.

Edit: I own zero crypto. I have no use for it. I’ve got emergency funds, operating funds and every other dollar gets put to work.

I could have sworn you said you were averaging down on RIOT.

 

[Mujahideen]

I could have sworn you said you were averaging down on RIOT.

It’s in there… edit: I see what you meant now. I meant I own no crypto currency.

I had to average down a lot on riot just to make money on calls, I have a lot of shares lol. It just kept going down lol. If it goes up a few dollars, I will be a very happy person. By the time of the next btc halving I think riot will at least be double digit at its book value.

That caused me to pay a lot more attention to the crypto market being in riot.

 

[Cigarlover]

Someday the dollar will be toast. For now 1.20 is the target, then 1.40. After the blowoff top then .70

 

[Lancers32]

It’s in there… edit: I see what you meant now. I meant I own no crypto currency.

I had to average down a lot on riot just to make money on calls, I have a lot of shares lol. It just kept going down lol. If it goes up a few dollars, I will be a very happy person. By the time of the next btc halving I think riot will at least be double digit at its book value.

That caused me to pay a lot more attention to the crypto market being in riot.

I'll buy some of that when I feel comfortable with the price of Bitcoin.

 

[Ebie]

Short term, sure there's blood in the streets in the crypto market. Just a leading indicator of what's to come with the rest of the markets including PM's. The pain train is a choo chooin.

IMO, crypto (especially Bitcoin and Ethereum) will be the first to start rip-roaring when the future pan sell-off is losing steam. PM's will be shortly behind (paper as there will be no physical available).

Shoeshine boy, eh? I guess there are worse things to be called. I can't speak for anyone else, but the only thing I advocated was to dollar cost average into a crypto position. A little each week/month. Now, if anyone had done that since 2017 or so, they'd still be sitting pretty.

"PM's will be shortly behind (paper as there will be no physical available."

The bullion coin market (acutal) will exist somehow and somewhere.
There will be "premiums" of course...

 

[ds_mustang]

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

People tend to focus on what's performing. Given that stocks and crypto have been going down, I suspect gold will be the next to perform for a while. Gold is overdue for a bull run. While everything else has been looking ugly, gold has been sitting quietly to the side, waiting patiently for everyone to wake up to it again.

 

[ZZZZZ]

People tend to focus on what's performing. Given that stocks and crypto have been going down, I suspect gold will be the next to perform for a while. Gold is overdue for a bull run. While everything else has been looking ugly, gold has been sitting quietly to the side, waiting patiently for everyone to wake up to it again.

Silver is still in the dumpster. Can't even break $22.00.

Thank you, Crimex banksters.

 

[ds_mustang]

Listen to Billy Ray. I think he'd buy BTC around 12,000, "all the suckers will be cleared out by then."

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People were saying to buy at $30k, then at $20k. Now that BTC hit $20k they say buy at $12k or $13k. People's announced target price will always be lower than recent price. So if you're actually interested in buying when price is low, it's probably better to have some objective criteria to buy at rather than a price target. Buy on a moving average cross or on a timeframe like after price hasn't hit a new low for 9 months or whatever.

 

[Casey Jones]

I'll buy some at $6.

Maybe in a few months. I can afford to play with that kind of money...

 

[ds_mustang]

Silver is still in the dumpster. Can't even break $22.00.

Thank you, Crimex banksters.

Silver is one of those things (like crypto) that goes nuts on the upside and on the downside. Though it happens less often than it happens in crypto, it does happen. Don't spend a lot of time on silver, just watch the price occasionally and be aware of the ratios. When it goes insanely low buy, and when it goes insanely high sell. That's how you buy at $4 and sell at $40. Move the proceeds into gold (IMO).

 

[Lancers32]

No supports in a bear market. 1.3 trillion was worst case scenario.

 

[Casey Jones]

Silver is still in the dumpster. Can't even break $22.00.

Thank you, Crimex banksters.

Nothing, in our system, is real.

We've been rolling out of control, printing money and giving it to the Globalist cronies, for over 14 years now. And to a lesser extent, before that, even. It's now impossible to value ANYTHING in this Clown World...except, of course, crony ties to government criminals.

 

[ds_mustang]

No supports in a bear market. 1.3 trillion was worst case scenario.


View attachment 264042

Linear charts aren't very useful in crypto IMO. Look at the price chart again with a log axis.

Crypto is dumping because a lot of leveraged big players are getting liquidated and businesses are failing. This has happened over and over again in the crypto space, just the names change. Once the leverage is wrung out and the trash companies fail, price bottoms out. Eventually everyone comes to realize crypto wasn't the problem and it still works just fine--then buying comes back and things go up again. That's what a free market looks like. The same sort of thing would happen in traditional markets and finance except they aren't a free market--the government and Fed don't let liquidations happen, they print money, bail out the failures, and mess around with interest rates.

 

[Lancers32]

I am looking at the total value of the crypto universe. It doesn't even have to be in chart form it can be a table.

 

[ds_mustang]

I am looking at the total value of the crypto universe. It doesn't even have to be in chart form it can be a table.

It still should be viewed in log as the data is a growth/multiplicative function. It goes up 10%, then 10%, then 10%, not $10 then $10 then $10.

But yeah this is a massive liquidation. Lots of investors and businesses that were leveraged getting wiped out.

 

[the_shootist]

Under 21K now...uhoh!

 

[the_shootist]

I'll buy some at $6.

Maybe in a few months. I can afford to play with that kind of money...

That's my target price

 

[Lancers32]

It still should be viewed in log as the data is a growth/multiplicative function. It goes up 10%, then 10%, then 10%, not $10 then $10 then $10.

But yeah this is a massive liquidation. Lots of investors and businesses that were leveraged getting wiped out.

That is all it is supposed to show.

 

[Juristic Person]

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.

People who bought Silver at $50 are also under water...

 

[nickndfl]

Silver is still in the dumpster. Can't even break $22.00.

Thank you, Crimex banksters.

GOLD is the money of kings and silver is for peasants.

 

[nickndfl]

GOLD is the money of kings and silver is for peasants. Eat me biotch.

 

[Cigarlover]

Silver is still in the dumpster. Can't even break $22.00.

Thank you, Crimex banksters.

I agree the bankers manipulate the price of silver but at the same time we have to understand what comex was designed for. It's a hedging vehicle. So you can thank the primary dealers as well as the bankers. You can also thank anyone who is locking in a large quantity of silver. If Apple wants to buy a million ones of silver they will hedge by shorting a million Ozes on the comex. ...Elon has said it takes almost 11 ones of silver for every electrical vehicle he builds. He has to take a short position as well.
For better or for worse, that's the way the system is set up. Until investment demand gobbles up all the silver nothing will change.

If you are sitting on 20-30k ounces of silver you too should be taking short positions to protect your investment. Same as the stock market. If you have millions in the market it's prudent to buy some insurance against a downturn unless your selling everything and going to cash.