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Crypto is Crashing HARD - opportunity.....

#48Fan

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I fail to understand how this is viewed as a positive.

I see people are posting memes and tweets about how certain entities are speaking out against Bitcoin... therefore it must be good....now we're being told it's touted as good.

The government (central bank) is anti gold but pro crypto ....sounds a bit like a = psyop to me no?

What part of , " No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts."

is hard to comperstand?
I believe he is talking about governments like El Salvador.
 

BeefJerky

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Let people have their fun is my motto. It's not house money once the chips are in your hands. Just keep that in mind. That is an expression coined by many a losing gambler.
 

Mujahideen

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We are very close to the bottom.

I’m spending my whole settlement on $RIOT.

I’d like to thank everyone who shorted Bitcoin and the Bitcoin miners. They are the real MVP!
 

Ebie

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We are very close to the bottom.

I’m spending my whole settlement on $RIOT.

I’d like to thank everyone who shorted Bitcoin and the Bitcoin miners. They are the real MVP!
I did not realize that you could short Bitcoin.
Interesting!
In any case, the price was possibly pushed down by large (goober mint?) investors, who will make money by poop and scoop---I think...
I wonder if some of the shorts are "naked"?
 

Mujahideen

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I did not realize that you could short Bitcoin.
Interesting!
In any case, the price was possibly pushed down by large (goober mint?) investors, who will make money by poop and scoop---I think...
I wonder if some of the shorts are "naked"?

All you have to do is borrow from an exchange and sell.
 

Lancers32

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We are very close to the bottom.

I’m spending my whole settlement on $RIOT.

I’d like to thank everyone who shorted Bitcoin and the Bitcoin miners. They are the real MVP!

This guy popped on my YT algo the other day. The podcast was from last Thursday or Friday not positive but what Cowen who is one of the more sane in the space did say is that BTC is still in a bear market. It could rally from here to 35K or even higher but the bear market is still ongoing.
 

Lancers32

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You can start at 11:00.
 

Voodoo

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Bitcoin. Only Bitcoin. It is seeing government-level acceptance (as a reserve). This is the only crypto I own. It is King Crypto.

But... ultimately Bitcoin will be challenged by CBDCs, and this won't be a free market challenge. You will own Crypto Dollars and you will be happy.

Funny, its the only one I will Not consider buying. If I want Bitcoin I'd buy one of the other flavors. I really like this guy and trust him on Crypto's now. Claims to have made millions on Luna, yes the one that crashed.

 

Mujahideen

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I hope it’s a bear market for a while, gives me more time to scoop up shares until I catch up to my average cost; in the long term, I believe I’m correct.

Once we get back to the cycle where money is flowing into small cap stocks, the good miners will explode from where they are now.
 

Voodoo

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Funny, its the only one I will Not consider buying. If I want Bitcoin I'd buy one of the other flavors. I really like this guy and trust him on Crypto's now. Claims to have made millions on Luna, yes the one that crashed.


Holy cow, his first stock trade experience is amazing. Like the worst possibly thing I could imagine for a first trade. He also turns out to have been big on Doug Casey and gold stocks from 2005-08. Now good friends.
 

Juristic Person

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As if cash or gold is going to somehow be of use when we are all killing each other.

Crypto doesn’t stop anyone from prepping.

If anything, it should be a part of it. One should be prepared to be able to move part of their wealth digitally if necessary. Your wealth can be physically stolen from you. It is something to consider. I wouldn’t put all the eggs in one basket.

The people in Ukraine who fled to other countries were basically at the other countries mercy. If you have gold it could get taken, if you have money in the bank it can be frozen. Crypto is just another tool.
I believe crypto is more secure than cash in banks and more "mobile' than PM's. Gold can be stolen, lost, etc. Real estate can be destroyed, buildings deteriorate, banks can refuse access. Crypto reduces those risks. While it has risks of it's own in some cases, I believe conceptually the benefits outweigh the bad.
 

Mujahideen

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I agree. Everything has pros and cons.
 

Juristic Person

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I hope it’s a bear market for a while, gives me more time to scoop up shares until I catch up to my average cost; in the long term, I believe I’m correct.

Once we get back to the cycle where money is flowing into small cap stocks, the good miners will explode from where they are now.
Even while the price of Bitcoin has been falling, accumulation has been increasing. People aren't dumping their Bitcoin. The exact opposite is happening...and now you've institutional investors buying up mass quantities.
 

<SLV>

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I believe crypto is more secure than cash in banks and more "mobile' than PM's. Gold can be stolen, lost, etc. Real estate can be destroyed, buildings deteriorate, banks can refuse access. Crypto reduces those risks. While it has risks of it's own in some cases, I believe conceptually the benefits outweigh the bad.
But much less liquid than cash.
 

Lancers32

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Even while the price of Bitcoin has been falling, accumulation has been increasing. People aren't dumping their Bitcoin. The exact opposite is happening...and now you've institutional investors buying up mass quantities.
As if institutions have never had a losing trade. BTC was/is due for at least a dead cat bounce but institutions have been involved heavily since the 17K bottom.
 

Ebie

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As best I understand:
Bitcoin is it. It is the best blockchain, it is maximal Blockchain. It cannot be improved any more than Au metal can.
The main question is can it be hacked/counterfeited?
Nodes/exchanges can be hacked, and they have been before, but, the attack was detected and Bitcoin is still here.
There are many other ways for goober mints to attack it.
I suspect that it may be vulnerable to a full on massive continual attack on all nodes, by a very well funded entity.
That along with internet kill switches.
But if a handful of countries do not go along, even that may not succeed.
 
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Juristic Person

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Again, I respectfully disagree. The solid reason? If you lost your bitcoin, you have literally nothing with which to barter. A Carrington Event or equivalent would, yes, destroy civilization as we know it. But in all history, written and researched... PM's were used to facilitate the narrow trading going on.

Always, without fail. In every society PM's have been contributing the difference between continued existence or starvation and death.

So your "least worry" now -- in stark reality -- becomes a crippling blow to your coping, or even just surviving. You have nothing.

I would say that makes the point clearly -- Bitcoin is freaking marvelous. But it can cease to exist TEN SECONDS after you read this line.
But my point here is that in that collapse scenario - food, fuel, ammo, tools and other tangible goods are going to be your bartering tools. PM's are secondary to that. Bitcoin obviously would be completely worthless at that point but it's not the reason to accumulate some now. The point of that is in the assumption that the SHTF doesn't happen. The largest holders of Bitcoin are JP Morgan and Morgan Stanley. Major institutional investors are scooping it up in mass quantities. You should get a piece of that pie while you can.
 

<SLV>

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Mujahideen

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Cigarlover

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But my point here is that in that collapse scenario - food, fuel, ammo, tools and other tangible goods are going to be your bartering tools. PM's are secondary to that. Bitcoin obviously would be completely worthless at that point but it's not the reason to accumulate some now. The point of that is in the assumption that the SHTF doesn't happen. The largest holders of Bitcoin are JP Morgan and Morgan Stanley. Major institutional investors are scooping it up in mass quantities. You should get a piece of that pie while you can.
How do you know that? Have they made that announcement?I think MSTR also holds about 3 billion worth and they are now underwater. Their stock pretty much tracks BTC is you want to play btc without spending 30k for 1.
 

Voodoo

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I think the whole Luna story was a government plan from the beginning.

Not the government but the big banksters running them. Government people are too dumb. Could possibly be a Citadel / Fed type plot.
 

Juristic Person

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I still havent the foggiest idea what this crypto shits about, seems like a big ponzi scheme to me, no offense
I fail to understand how this is viewed as a positive.

I see people are posting memes and tweets about how certain entities are speaking out against Bitcoin... therefore it must be good....now we're being told it's touted as good.

The government (central bank) is anti gold but pro crypto ....sounds a bit like a = psyop to me no?

What part of , " No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts."

is hard to comperstand?

Not the government but the big banksters running them. Government people are too dumb. Could possibly be a Citadel / Fed type plot.
Blackrock/Citadel
 

Au-myn

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Thought I would post a Point & Figure chart for those Members that follow BTC. The scale is 3 x 1500.

BTC turned Bearish in January (1 entry) on a Triple Bottom formation sell signal at 43,500. The following Bullish- Formations in Combination pattern buy signal failed at the Bearish resistance line and subsequently sold-off.

Long-term support at 30K was also taken out.

btc1.png
 

Voodoo

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Man that is one ugly chart. Going back all the way to 2021 levels. zip it: Unfortunately looks like 4 digits are on the way again.
 

#48Fan

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Man that is one ugly chart. Going back all the way to 2021 levels. zip it: Unfortunately looks like 4 digits are on the way again.
That would be a great opportunity, but I doubt it happens.
 

BeefJerky

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I still see no adoption of Bitcoin. My dentist used to take it. Now she stopped l. I asked her why. She said too much hassle and she only had 5 transactions in the 5 years she had the sign up.
 

#48Fan

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I still see no adoption of Bitcoin. My dentist used to take it. Now she stopped l. I asked her why. She said too much hassle and she only had 5 transactions in the 5 years she had the sign up.
It's only been around 13 years. I would say it's come a long way in a very short time.
 

Mujahideen

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anywoundedduck

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Man that is one ugly chart. Going back all the way to 2021 levels. zip it: Unfortunately looks like 4 digits are on the way again.
More like 3 digits IMO. Shouldn't be worth anymore than the ledger entry that is a bitcoin, which is worth the the amount of gold or silver backing it, kinda like PSLV.
What's that you say.???
You say bitcoin has no backing at all?
 

Mujahideen

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To me it's not worth one digit. I'm not interested in fake hyped bullshit that has zero practical use in my life.

It has better fundamentals than federal reserve notes. It’s competition is rather weak.

Bitcoin won’t be used to bailout the banks, can’t say the same about the frn. The banks are just going to mortgage our children’s future to stay in power. That ain’t happening with Bitcoin.
 
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BeefJerky

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The fake money in my Monopoly set isn't going to bail out anything or anyone either.
:-)

It has better fundamentals than federal reserve notes. It’s competition is rather weak.

Bitcoin won’t be used to bailout the banks, can’t say the same about the frn. The banks are just going to mortgage our children’s future to stay in power. That ain’t happening with Bitcoin.
 

Cigarlover

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Imagine being that Michael Sayer guy. Puts his companies money in BTC at 9-10k, runs it up, leverages the fork out of it and now back to 30k ish. I've heard his DCA is now right around 30-32k. The problem now is, if it starts heading lower how does he get out?

This will end up going down in history as one of the most crazy pump and dump schemes ever created. As the fed unwinds it's balance sheet and raises interest rates we are in for a crazy crash. I see BTC back to 10k by the time this is over.
 

Thecrensh

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Imagine being that Michael Sayer guy. Puts his companies money in BTC at 9-10k, runs it up, leverages the fork out of it and now back to 30k ish. I've heard his DCA is now right around 30-32k. The problem now is, if it starts heading lower how does he get out?

This will end up going down in history as one of the most crazy pump and dump schemes ever created. As the fed unwinds it's balance sheet and raises interest rates we are in for a crazy crash. I see BTC back to 10k by the time this is over.
I hadn't heard of this before today. At least when the dollar crashes you can start fires with cash or even wipe your butt. Bitcoin...eek.
 

Cigarlover

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I hadn't heard of this before today. At least when the dollar crashes you can start fires with cash or even wipe your butt. Bitcoin...eek.
He owns some tech company in MA I think. Well, it's a public company. So he's got a fiduciary responsibility to the shareholders as well. Not sure how that plays out when you speculate with shareholders cash. Kind of like taking it to the high stakes Roulette wheels. having a good run then opening a line of credit to the max. LOL.
He's been on a lot of people podcasts pumping BTC. Of course.
 

Thecrensh

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He owns some tech company in MA I think. Well, it's a public company. So he's got a fiduciary responsibility to the shareholders as well. Not sure how that plays out when you speculate with shareholders cash. Kind of like taking it to the high stakes Roulette wheels. having a good run then opening a line of credit to the max. LOL.
He's been on a lot of people podcasts pumping BTC. Of course.
Well he better figure out a plan then!
 

Mujahideen

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The fake money in my Monopoly set isn't going to bail out anything or anyone either.
:-)

Right.

But your Monopoly money has no market cap or utility.