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Crypto is Crashing HARD - opportunity.....

Juristic Person

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I “invest” in miners, Riot Blockchain specifically, I have thousands of shares. I milk it for option premium, but I plan on holding it on the way up.

I have no use for holding what I see as currency. But hypothetically if I had to add currency to my assets I would add BTC or ETH before I would add more frns.
What kind of return have you seen? How long have you been investing?
 

Mujahideen

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What kind of return have you seen? How long have you been investing?

Right now things haven’t been too great, I started buying riot at 35 and I caught the falling knife and DCA all the way down while it was falling to the 4s, using margin.

My average costs are in the 8s. Selling calls above 8 isn’t really all that good when it’s 4 something. But if this recovers at all, it will be extremely profitable.
 

Juristic Person

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Right now things haven’t been too great, I started buying riot at 35 and I caught the falling knife and DCA all the way down while it was falling to the 4s, using margin.

My average costs are in the 8s. Selling calls above 8 isn’t really all that good when it’s 4 something. But if this recovers at all, it will be extremely profitable.
I think everyone really just needs to sit on their bags for a while. There will be a recovery. It's only a loss if you sell below cost. Hang in there. The technology as a whole is here to stay and it's growth will be exponential in the next 5 years. Everything will go up with that (with exception of course of the ones that go bust).
 

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View attachment 264910


The 200 SMA is trending upwards. I wouldn’t say that btc has failed considering the story isn’t over, but that all depends on what lens you choose to look at it from. And a lot of analysts project btc to rise in the long term. And mind you, this is only vs the dollar, a lot of other currencies are in an even worse position than the USD.

And the dollar is bound to lose money long term, that’s what’s it’s been doing for over 100 years; It’s tied to corrupt politicians who constantly debase the currency to pay their cronies. Btc is only 14 or so years old but I would say it’s winning that argument so far even with this crash.

I say btc is more real because it’s not as arbitrarily created as the dollar and it holds more value on the long term, IMO. btc is also open source… we can’t even really audit the fed.
The lens I'm using to look at bitcoin is compared to other large crypto, particularly smart contract crypto that aren't trying to be stores of value. If bitcoin does no better than them, and yet has no other purpose than to be a store of value, then bitcoin has basically failed its primary use case and seems redundant.
 

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14 years of btc, trending up.

View attachment 264916

100 years of the FRN, trending down… and it’s owners are trying to enslave us.

I’m someone who has an emergency fund and operating fund and spends the rest of my money because I already know this.

I’ll take a chance on btc being worth more in 10 years than the paper frn in my pocket.
I didn't realize 14 years was "long term" enough to directly compare with centuries old currency's long term trends. .
 

Voodoo

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You already can.




I know you can but few people ever report using it. I will start to buy in when people actually start using it. I've seen a few use it on-line.
 

Mujahideen

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The lens I'm using to look at bitcoin is compared to other large crypto,

In my opinion, btc should be viewed vs government issued currency that is constantly being debased; and a focal point on btc should be decentralization and it being open sourced. <<<< that should be the main priority, to be simple and honest; everything else is secondary. Ease of use or practical use should be secondary for btc.

I think that leaves behind a wide lane open for other crypto. But I will think that other crypto that is more practical or more useful will inherently be more centralized and likely more complicated. ETH 2.0 is a great example.
 

wastrel

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One thing is certain. Blockchain technology is the future of the banking industry.
You're probably correct. I'm not so sure that's a good thing, though. There have been transactions I've made in the past that I'd really rather forget.

Come to think of it, what might turn out to be the most common use of blockchain tech in the future is in elementary schools. For a student's Permanent Record. Remember all those teachers' warnings when someone was unruly, about it being put on their Permanent Record? Well, with a blockchain it really will be a Permanent Record. Perhaps it will also follow you for the rest of your life, being the basis of a slave's citizen's Social Credit Score. "Sorry, Mr. Jones, we know you're 70 years old now, but you can't buy that upscale electric car because your Permanent Record shows you put paste in Sally Smith's hair in kindergarten, you anti-social wrecker and hoarder."

I'm kidding. At least I think I'm kidding...
 

ZZZZZ

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A blockchain should be used to track registered voters to make sure only one vote per citizen. When you turn 18 and register, your record is created. When you move, you record moves with you. When you die, your voting record is closed.
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Juristic Person

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A blockchain should be used to track registered voters to make sure only one vote per citizen. When you turn 18 and register, your record is created. When you move, you record moves with you. When you die, your voting record is closed.
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It will be....
 

Casey Jones

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A blockchain should be used to track registered voters to make sure only one vote per citizen. When you turn 18 and register, your record is created. When you move, you record moves with you. When you die, your voting record is closed.
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Locally-managed elections and paper ballots, did that just fine.

Interject complexity, open the door for fraud. Complexity makes it harder for the average voter to identify or understand.
 

ZZZZZ

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Locally-managed elections and paper ballots, did that just fine.

Interject complexity, open the door for fraud. Complexity makes it harder for the average voter to identify or understand.

Are you old enough to remember Chicago and "Vote early and vote often?" :D
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Casey Jones

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Are you old enough to remember Chicago and "Vote early and vote often?" :D
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Sure.

That's why anyone with a choice, didn't live there.

But nothing like what we saw with MACHINE voting, 2020, ever happened. Chicago, the Machine controlled. Not rural counties. Not all other cities.

There will always be fraud; but the best way to make it universal, is to introduce a system the average person cannot understand, and nobody without tools, readers, an understanding of the program.
 

ZZZZZ

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Sure.

That's why anyone with a choice, didn't live there.

But nothing like what we saw with MACHINE voting, 2020, ever happened. Chicago, the Machine controlled. Not rural counties. Not all other cities.

There will always be fraud; but the best way to make it universal, is to introduce a system the average person cannot understand, and nobody without tools, readers, an understanding of the program.

There really isn't anything complex for the average voter to understand. It might actually be simpler. They still have to register to vote. then when they move and change their address with the DMV or move out of state, their voter record gets reassigned to their new precinct. When a death certificate is issued, the death records are cross-checked and the voter registration is cancelled.

I mean do voters really understand how it works now?
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Casey Jones

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There really isn't anything complex for the average voter to understand. It might actually be simpler. They still have to register to vote. then when they move and change their address with the DMV or move out of state, their voter record gets reassigned to their new precinct. When a death certificate is issued, the death records are cross-checked and the voter registration is cancelled.

I mean do voters really understand how it works now?
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It was done on paper ledgers, with voter identity confirmed with a signature. At least that's how it was done up to 2008 in Cuyahoga County, Ohio.

Fraud? Sure, it could be done. Fraud without evidence? Not nearly so easy. Paper leaves a trail.

Now, the blithe comments about how a blockchain ledger all so easy to see, if you just understand it...tell me how I'm going to see it, without the tools, the software, the access codes. Can you see where your bitcoin was? Can anyone?
 

ZZZZZ

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Crypto sounds like such a great investment lol


This is not a problem with Bitcoin, it's a problem with the vault. This is no different than Willie Sutton robbing a bank and stealing FRNs.

Got to take your coins offline into a private wallet.
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Mujahideen

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This is not a problem with Bitcoin, it's a problem with the vault. This is no different than Willie Sutton robbing a bank and stealing FRNs.

Got to take your coins offline into a private wallet.
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Some people don’t know the difference between crypto, btc, and exchanges.
 

BeefJerky

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At some point you have exposure to an exchange just like you do a bank. The difference is if the bank gets robbed you will still have your money. With crypto the only thing you have is hope.
 

Ebie

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At some point you have exposure to an exchange just like you do a bank. The difference is if the bank gets robbed you will still have your money. With crypto the only thing you have is hope.
Good post.
From the internet:
Until now, most people who have their crypto stolen never got it back. If you have crypto,... because of the transparency of blockchain technology, authorities can confirm which stolen assets belong to each victim in large-scale fraud schemes. So you can recover stolen crypto even if scammers or hackers store it in an offline wallet. Once the culprits are caught, the blockchain can lead authorities to stolen assets’ original owners.
My comment:
You don't need a bank with BTC.
You can store it in a cold wallet.
PS From the internet:
... hardware wallet got lost or stolen or doesn’t work for some reason?
Don’t panic, your crypto is safe and you can access it, as long as you have your seed words with you...
 
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Mujahideen

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Until now, most people who have their crypto stolen never got it back. If you have crypto,... because of the transparency of blockchain technology, authorities can confirm which stolen assets belong to each victim in large-scale fraud schemes. So you can recover stolen crypto even if scammers or hackers store it in an offline wallet. Once the culprits are caught, the blockchain can lead authorities to stolen assets’ original owners.
My comment:
You don't need bank with BTC.
You can store it in a cold wallet.


authorities

This is why it’s important to distinguish between btc and the general term of crypto.

If you don’t have the keys, you’re not recovering btc. There is no undoing the transaction. Btc is great for sellers.
 

Oldmansmith

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This. They outlawed gold. How much easier to make Fedcoin and outlaw the others. They’d probably be nice and give you 10 cents on the dollar.
 

ZZZZZ

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This. They outlawed gold. How much easier to make Fedcoin and outlaw the others. They’d probably be nice and give you 10 cents on the dollar.

Outlawing cryptos would just acknowledge what most us here already know: phony fiat Central Bank "money" is so weak it cannot withstand even modest competition. The end of fiat money is near.
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Casey Jones

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Outlawing cryptos would just acknowledge what most us here already know: phony fiat Central Bank "money" is so weak it cannot withstand even modest competition. The end of fiat money is near.
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It would also make it impossible for legitimate merchants to accept it, making it useless as money.
 

ds_mustang

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It would also make it impossible for legitimate merchants to accept it, making it useless as money.
Crypto is global. I just paid a foreign business last week in stablecoin. It's much quicker and easier than doing a wire.
 

Casey Jones

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Crypto is global. I just paid a foreign business last week in stablecoin. It's much quicker and easier than doing a wire.
Globalism is global, too.

You don't think the WEF is going to strong-arm the US government, into blocking/banning/prohibiting transactions with overseas merchants taking forbidden units of trade?

And this, while we WATCH the whole of Russia, its search engines, its news networks, all blocked on US IPs.
 

ds_mustang

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Globalism is global, too.

You don't think the WEF is going to strong-arm the US government, into blocking/banning/prohibiting transactions with overseas merchants taking forbidden units of trade?

And this, while we WATCH the whole of Russia, its search engines, its news networks, all blocked on US IPs.
I think we're in an end-game period where the globalists are over-extending the power of their influence, banks, and currencies. They just forced Russian debt holders to take a loss by refusing to process Russian debt payments while calling it a default. It's obviously not a default when someone pays their debt but but the banks refuse to process the payment. So now not only do you have foreign economic entities all over the world looking for alternatives to western banks and currencies, you've got debt holders wanting a new system as well.

It's just a question of when global markets move to something new and what it will be. By the time it reaches that point the globalists will be out of power by their own actions.

Though maybe I'm being optimistic.
 
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Juristic Person

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I think we're in an end-game period where the globalists are over-extending the power of their influence, banks, and currencies. They just forced Russian debt holders to take a loss by refusing to process Russian debt payments while calling it a default. It's obviously not a default when someone pays their debt but but the banks refuse to process the payment. So now not only do you have foreign economic entities all over the world looking for alternatives to western banks and currencies, you've got debt holders wanting a new system as well.

It's just a question of when global markets move to something new and what it will be. By the time it reaches that point the globalists will be out of power by their own actions.
It's the blockchain. That's what everything is getting moved to. I posted this in it's own thread but it's relevant here.


Blockchain vs. Banks​

FeatureBanksBitcoin
Hours openTypical brick-and-mortar banks are open from 9:00 am to 5:00 pm on weekdays. Some banks are open on weekends but with limited hours. All banks are closed on banking holidays.No set hours; open 24/7, 365 days a year.
Transaction Fees•Card payments: This fee varies based on the card and is not paid by the user directly. Fees are paid to the payment processors by stores and are usually charged per transaction. The effect of this fee can sometimes make the cost of goods and services rise. •Checks: can cost between $1 and $30 depending on your bank. •ACH: ACH transfers can cost up to $3 when sending to external accounts. •Wire: Outgoing domestic wire transfers can cost as much as $25. Outgoing international wire transfers can cost as much as $45.Bitcoin has variable transaction fees determined by miners and users. This fee can range between $0 and $50 but users have the ability to determine how much of a fee they are willing to pay. This creates an open marketplace where if the user sets their fee too low their transaction may not be processed.
Transaction Speed•Card payments: 24-48 hours •Checks: 24-72 hours to clear •ACH: 24-48 hours •Wire: Within 24 hours unless international *Bank transfers are typically not processed on weekends or bank holidaysBitcoin transactions can take as little as 15 minutes and as much as over an hour depending on network congestion.
Know Your Customer RulesBank accounts and other banking products require "Know Your Customer" (KYC) procedures. This means it is legally required for banks to record a customer's identification prior to opening an account.Anyone or anything can participate in Bitcoin’s network with no identification. In theory, even an entity equipped with artificial intelligence could participate.
Ease of TransfersGovernment-issued identification, a bank account, and a mobile phone are the minimum requirements for digital transfers.An internet connection and a mobile phone are the minimum requirements.
PrivacyBank account information is stored on the bank’s private servers and held by the client. Bank account privacy is limited to how secure the bank's servers are and how well the individual user secures their own information. If the bank’s servers were to be compromised then the individual's account would be as well.Bitcoin can be as private as the user wishes. All Bitcoin is traceable but it is impossible to establish who has ownership of Bitcoin if it was purchased anonymously. If Bitcoin is purchased on a KYC exchange then the Bitcoin is directly tied to the holder of the KYC exchange account.
SecurityAssuming the client practices solid internet security measures like using secure passwords and two-factor authentication, a bank account's information is only as secure as the bank's server that contains client account information.The larger the Bitcoin network grows the more secure it gets. The level of security a Bitcoin holder has with their own Bitcoin is entirely up to them. For this reason it is recommended that people use cold storage for larger quantities of Bitcoin or any amount that is intended to be held for a long period of time.
Approved TransactionsBanks reserve the right to deny transactions for a variety of reasons. Banks also reserve the right to freeze accounts. If your bank notices purchases in unusual locations or for unusual items they can be denied.The Bitcoin network itself does not dictate how Bitcoin is used in any shape or form. Users can transact Bitcoin how they see fit but should also adhere to the guidelines of their country or region.
Account SeizuresDue to KYC laws, governments can easily track people's banks accounts and seize the assets within them for a variety of reasons.If Bitcoin is used anonymously governments would have a hard time tracking it down to seize it.
 

ds_mustang

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It's the blockchain. That's what everything is getting moved to. I posted this in it's own thread but it's relevant here.


Blockchain vs. Banks​

FeatureBanksBitcoin
Hours openTypical brick-and-mortar banks are open from 9:00 am to 5:00 pm on weekdays. Some banks are open on weekends but with limited hours. All banks are closed on banking holidays.No set hours; open 24/7, 365 days a year.
Transaction Fees•Card payments: This fee varies based on the card and is not paid by the user directly. Fees are paid to the payment processors by stores and are usually charged per transaction. The effect of this fee can sometimes make the cost of goods and services rise. •Checks: can cost between $1 and $30 depending on your bank. •ACH: ACH transfers can cost up to $3 when sending to external accounts. •Wire: Outgoing domestic wire transfers can cost as much as $25. Outgoing international wire transfers can cost as much as $45.Bitcoin has variable transaction fees determined by miners and users. This fee can range between $0 and $50 but users have the ability to determine how much of a fee they are willing to pay. This creates an open marketplace where if the user sets their fee too low their transaction may not be processed.
Transaction Speed•Card payments: 24-48 hours •Checks: 24-72 hours to clear •ACH: 24-48 hours •Wire: Within 24 hours unless international *Bank transfers are typically not processed on weekends or bank holidaysBitcoin transactions can take as little as 15 minutes and as much as over an hour depending on network congestion.
Know Your Customer RulesBank accounts and other banking products require "Know Your Customer" (KYC) procedures. This means it is legally required for banks to record a customer's identification prior to opening an account.Anyone or anything can participate in Bitcoin’s network with no identification. In theory, even an entity equipped with artificial intelligence could participate.
Ease of TransfersGovernment-issued identification, a bank account, and a mobile phone are the minimum requirements for digital transfers.An internet connection and a mobile phone are the minimum requirements.
PrivacyBank account information is stored on the bank’s private servers and held by the client. Bank account privacy is limited to how secure the bank's servers are and how well the individual user secures their own information. If the bank’s servers were to be compromised then the individual's account would be as well.Bitcoin can be as private as the user wishes. All Bitcoin is traceable but it is impossible to establish who has ownership of Bitcoin if it was purchased anonymously. If Bitcoin is purchased on a KYC exchange then the Bitcoin is directly tied to the holder of the KYC exchange account.
SecurityAssuming the client practices solid internet security measures like using secure passwords and two-factor authentication, a bank account's information is only as secure as the bank's server that contains client account information.The larger the Bitcoin network grows the more secure it gets. The level of security a Bitcoin holder has with their own Bitcoin is entirely up to them. For this reason it is recommended that people use cold storage for larger quantities of Bitcoin or any amount that is intended to be held for a long period of time.
Approved TransactionsBanks reserve the right to deny transactions for a variety of reasons. Banks also reserve the right to freeze accounts. If your bank notices purchases in unusual locations or for unusual items they can be denied.The Bitcoin network itself does not dictate how Bitcoin is used in any shape or form. Users can transact Bitcoin how they see fit but should also adhere to the guidelines of their country or region.
Account SeizuresDue to KYC laws, governments can easily track people's banks accounts and seize the assets within them for a variety of reasons.If Bitcoin is used anonymously governments would have a hard time tracking it down to seize it.
Yeah I agree crypto will probably have a role. Gold too. Fiat and CBDCs will be part of it too somehow though as governments aren't going to just give up on having their own money.
 

ZZZZZ

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chieftain

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Fresh BTC and general crypto ass whoopin' in progress.
 

EO 11110

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is it time to buy? if so, what?
 

Mujahideen

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is it time to buy? if so, what?

I would wait until inflation starts to get under control as the earliest buy signal.

As for what, I would start by learning about eth and btc.
 

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So now not only do you have foreign economic entities all over the world looking for alternatives to western banks and currencies, you've got debt holders wanting a new system as well.
After Obama beat Iran over the head with the SWIFT stick the rest of the world created a parallel system. Every nation joined but one.

The war in Ukraine will end the fiat Federal Reserve. Sanctions have done nothing to Russia. Zip. Nadda. Nothing.

The dollar is dying a slow death, because “Rubles for oil” is the new kid in town. The “new reserve” currency. They just haven’t announced it yet. They “know it” but won’t admit it without another war to attempt regaining control.
 

chieftain

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the rest of the world created a parallel system. Every nation joined but one.

I'm brain farting today, what parallel system GH?