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Crypto is Crashing HARD - opportunity.....

Mujahideen

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The illusion is strong with bitcoin. Why it had a market cap will go down in history as one of the questions of this century.

The answer is because of government fiat; out of control money currency creation by politicians and bankers.

People who want a more honest system have found an alternative, in this case a very decentralized system that utilizes blockchain.

It’s not too hard to figure out why people would want an alternative to the federal reserve notes, the issues have been discussed here since the forums inception.

Bitcoin monopoly currency > federal reserve monopoly currency. It’s that simple.

Some “cryptocurrency” is straight up garbage and a Ponzi scheme, I can’t defend the whole category. But a decentralized system that utilizes proof of work and the blockchain is inherently more honest than a frn.
 

Mujahideen

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9A6279CD-1671-4B30-A8E1-294EC303AD86.png


BTC is volatile to the up side.


8E67DB44-E4E8-417B-B52C-7E623EF5EF38.jpeg


The federal reserve note is alleged to be stable, but holds value like dry ice on a summer day.

It’s not even really a fair comparison.
 

Ebie

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Btc was frozen by the Canadian government for "certain individuals". But they (the govt) was only successful at freezing the BTC stored on the exchanges. Cold wallets and even hot wallets were not frozen...
It was not possible.
They tried for the hot wallets, but, it was not possible.
 
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Mujahideen

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Inflation rate in Turkey.

Where do you go if you want to stay digital? A decentralized cryptocurrency.
 

Lancers32

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Check out Saylor's history.
 

Ebie

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Btc was frozen by the Canadian government for "certain individuals". But they (the govt) was only successful at freezing the BTC stored on the exchanges. Cold wallets and even hot wallets were not frozen...
It was not possible.
They tried for the hot wallets, but, it was not possible.
But in function, I doubt if the "certain individuals" with untouched bitcoin were able to buy food or gasoline with BTC. It was not possible in Canada.
Panama has nice weather.
 

Mujahideen

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$RIOT book value is 11.83

$RIOT is 5.17 right now. lol.
 

nickndfl

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Everything is 100% risk now. If you are clever you are in risk OFF mode.

Tim the Coin Shop Guy on YouTube Silver Stacker said it best, "Sell everything that you don't need."
 

Cigarlover

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Once it's down in the low teens might bite on a 1/0th or 2. Right now it's in the process of following the overall market down. I'm looking for 5-7k in the nasdaq and 15k in the dow before this is over. Could even go to 1/2 those numbers depending on how quickly we fall to the first target and what mood the fed is in.
Based on everything I have seen from this administration so far, Biden will be the fall guy that came in and forked everything up. he could care less as he and his family will be very wealthy when this is all over.
 

D-FENZ

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Translation:
Go to cash.
And watch that depreciate at 15%+ annually? And that's just what we are seeing now. Next year it may be double that. Might be the worst thing you could do. But who knows.

I'd buy anything that's reasonably liquid and hurts when you drop it on your toes. Physical commodities if you have the storage space. Scrap copper by the ton comes to mind.
 

viking

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And watch that depreciate at 15%+ annually? And that's just what we are seeing now. Next year it may be double that. Might be the worst thing you could do. But who knows.

I'd buy anything that's reasonably liquid and hurts when you drop it on your toes. Physical commodities if you have the storage space. Scrap copper by the ton comes to mind.

Buy tampons and pads.
 

anywoundedduck

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Illusion or delusion? I kid....sort of....
Dollar = Fiat = Delusion
Bitcoin= Fiat = Delusion
You don't hold it, you don't own it.
And that includes wallets that establish ownership of Fiat on the block chain. But its still fiat.
 

ZZZZZ

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And watch that depreciate at 15%+ annually? And that's just what we are seeing now. Next year it may be double that. Might be the worst thing you could do. But who knows.

I'd buy anything that's reasonably liquid and hurts when you drop it on your toes. Physical commodities if you have the storage space. Scrap copper by the ton comes to mind.
Even at a 15%, holding loss, there is some value to holding some cash or cash equivalents. At least for now, FRN "cash is king," and liquidity has value. For one, being able to snap up future bargains as others must dump whatever they are holding to buy food, fuel, ammo, whatever.
.
.
 

newmisty

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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.
Trojan horse
 

EO 11110

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crypto 'miners' etf -- big ugly before this thread started - and got much uglier while this thread has been active

crypto could be the pets.com of the latest tech bubble and crash (for the old timers that remember tech crash 2000)

1654988951254.png
 

ds_mustang

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Everyone is freaking out, but nothing fundamental has changed for the quality crypto. Good buy point... much better than people scrambling to buy last year near the highs.

Crypto is a strange thing. Most people don't understand it and those that do have a difficult time valuing it. So it goes up like crazy and down like crazy, but more up than down so far. Ethereum is almost -70% off it's highs. Bitcoin is about -60% off. Both have had like 10 down weeks in a row. IMO if this isn't THE buy point, it's getting close to it. JMO, not investment advice.
 
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Mujahideen

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crypto 'miners' etf -- big ugly before this thread started - and got much uglier while this thread has been active

crypto could be the pets.com of the latest tech bubble and crash (for the old timers that remember tech crash 2000)

View attachment 263416

Small cap high growth stocks are having the rug pulled from under them.

Some miners are operating just fine, but their stock is falling. RIOT is a great example of this.
 

stAGgering

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Everyone is freaking out, but nothing fundamental has changed for the quality crypto. Good buy point... much better than people scrambling to buy last year near the highs.

Crypto is a strange thing. Most people don't understand it and those that do have a difficult time valuing it. So it goes up like crazy and down like crazy, but more up than down so far. Ethereum is almost -70% off it's highs. Bitcoin is about -60% off. Both have had like 10 down weeks in a row. IMO if this isn't THE buy point, it's getting close to it. JMO, not investment advice.
Just broke below 28K support well into the 27Ks.
See you around 12K, nothing but air from here down.
 

ds_mustang

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Just broke below 28K support well into the 27Ks.
See you around 12K, nothing but air from here down.
That fear is why so few people buy when crypto is cheap. Crypto has become cheap over and over, yet very few people buy when it's low because they're sure it will keep falling.
 

Cigarlover

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That fear is why so few people buy when crypto is cheap. Crypto has become cheap over and over, yet very few people buy when it's low because they're sure it will keep falling.
Some day it will be cheap enough to speculate in again. Now isn't that time. 27k is not cheap for this.
See if 20k holds. If not then look for 10k to hold. At some point buyers will com back in. That time isn't now. Going to have to wait until the markets are done correcting. BTC will continue to follow the markets down. Once the fed changes direction things should turn around.
 

Lancers32

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Small cap high growth stocks are having the rug pulled from under them.

Some miners are operating just fine, but their stock is falling. RIOT is a great example of this.

Those stocks are BTC on steroids up and down. I don't trust the govt or paper money but I sure as hell would like to know who created Bitcoin before going ballz deep on this nonsense. This isn't my chart. What is that they say about parabolic moves?



Screen Shot 2022-06-11 at 8.21.41 PM.png
 

Mujahideen

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but I sure as hell would like to know who created Bitcoin before going ballz deep on this nonsense.

I don’t see the mystery considering it’s open source.

Idk who invented the wheel but I drive trucks.
 

Lancers32

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Seriously? The wheel? 13 14 years old now? I don't know what to make of it but they sure as hell are selling it now. In the long run I would rather be in Gold than BTC
 

Mujahideen

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Seriously? The wheel? 13 14 years old now? I don't know what to make of it but they sure as hell are selling it now. In the long run I would rather be in Gold than BTC

Again, it’s open source. At this point it’s been thoroughly scrutinized.

What I see as a failure in gold is adoption; gold is great at what it does, and it will always do what it does, but it’s not fully compatible with the digital world. And even in the physical world, it’s actual use will be limited.
 

Lancers32

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Price is king. I know nothing just try to look and not think much about what assets should do. Liquidity driven bubble. In the short time this crap has existed they have typically given back 80-90%.


 

Mujahideen

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And the term crypto is a bit misleading. A lot of crypto is straight up dog shit/ponzi and it all gets lumped together with BTC and ETH.

A crash has to happen to flush the garbage out.

If BTC is better than government currency then it will survive. And government currency is dog shit so I see it as surviving.

No matter what is said about BTC, government fiat is worse in the long run.
 

nickndfl

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BTC will need new believers to keep it rolling. Although it will most likely not disappear it will crash hard like all the other very speculative vehicles.

Some are 110% all in on their crypto-religion when in the best of times sinking more than 25% of into one asset class kills diversification. Be very careful with crypto because $5 gasoline is making people more aware in the value of tangible assets.

The crypto get rich scheme is ironically making people get poor fast.
 

ZZZZZ

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There is blood in the streets in Cryptoland. Speculators should at least have a look and pay attention to whatever may be forthcoming.
 

BeefJerky

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Everytime I look at crypto I see nothing. Unless you're into being controlled and having to jump around like a trained seal there's nothing there.
 

ZZZZZ

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Everytime I look at crypto I see nothing. Unless you're into being controlled and having to jump around like a trained seal there's nothing there.
Do you think the same thing when you look at the phony fiat US Non-Dollar?
 

Cigarlover

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Crypto needs to be treated as any other asset in your portfolio. If you got in early and rode this up to 60k then congrats. If you made any money on this, again, congrats.
If I had gotten in early I doubt I would have rode this all the way up. Even if I left some on the table, hard to know where the top really is until it starts going down.
I've heard that BTC is an inflation hedge, a wealth preservation vehicle and lots more. It's failed at everything it was supposed to be and it's finished when quantum computing gets going. But for now it is a speculative asset that you can make real money in, long or short. Don't fall in love with it. make your paper and get out. If you want wealth preservation get into gold or farmland.
20 years from now everyone still alive will remember crypto like we remember pet rocks. It was a fad, people made money and then it died like beanie babies.
 

BeefJerky

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Do you think the same thing when you look at the phony fiat US Non-Dollar?
Yes,, but the difference is the US has guns pointed at me forcing the use of its dollar. They will also take my shit if I don't come up with some dollars every year.
 

Ebie

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Crypto needs to be treated as any other asset in your portfolio. If you got in early and rode this up to 60k then congrats. If you made any money on this, again, congrats.
If I had gotten in early I doubt I would have rode this all the way up. Even if I left some on the table, hard to know where the top really is until it starts going down.
I've heard that BTC is an inflation hedge, a wealth preservation vehicle and lots more. It's failed at everything it was supposed to be and it's finished when quantum computing gets going. But for now it is a speculative asset that you can make real money in, long or short. Don't fall in love with it. make your paper and get out. If you want wealth preservation get into gold or farmland.
20 years from now everyone still alive will remember crypto like we remember pet rocks. It was a fad, people made money and then it died like beanie babies.
"it's finished when quantum computing gets going"
Please explain.
Thank you.
 

Lancers32

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I'd love to see the entire video of whoever that was going off on Peter Shiff.
Max Kieser. He's been a successful promoter for a long time. Started a stock exchange in California many years ago which got bought up and he made a killing. Got into Bitcoin very early made mega bucks on that.
 

Cigarlover

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"it's finished when quantum computing gets going"
Please explain.
Thank you.
Just what I have heard. I think someone on here posted some info about it and it will basically be so fast that it will be able to crack most encryptions. Doesnt bode well for any computer stuff to be honest.