OT: Bitcoin, Altcoins, NFT's & All Things Crypto

Rutgers Chris

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Dad- I put my hard earned money in Amazon 20 years ago and am up 205,000%.

Son- I took $200 from my stimmy check last year and bought a cool pic of an ape. I’m up 270,000%.

 

BABYBULL24

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RU in IM

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Yup. Along with all the other tech stocks. It’s why I was asking @bob-loblaw of there was a reason they haven’t decoupled

Both were over leveraged, so once the market dropped those leveraged transactions had to be unwound. It is a major concern of Bitcoin investors that crypto is tracking tech stocks, that it’s acting the opposite of a store of value, and is having an inverse relationship to inflation.
 
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rutgersdave

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Both were over leveraged, so once the market dropped those leveraged transactions had to be unwound. It is a major concern of Bitcoin investors that crypto is tracking tech stocks, that it’s acting the opposite of a store of value, and is having an inverse relationship to inflation.
Who losing all this money with so many tech stocks down 60-75%? Are they only in mutual funds and ETF so the losses are minimized ?
 

RUAldo

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Yup. Along with all the other tech stocks. It’s why I was asking @bob-loblaw of there was a reason they haven’t decoupled
This will be a big test for crypto because it’s going to take some balls to jump in here and start buying when so many hodlers are in the red.
 

RUfromSoCal?

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This will be a big test for crypto because it’s going to take some balls to jump in here and start buying when so many hodlers are in the red.
lol...I'd wait till mid 25s for BTC
TerraUSD can't even hold a dollar peg.
 

RU in IM

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Who losing all this money with so many tech stocks down 60-75%? Are they only in mutual funds and ETF so the losses are minimized ?

Well, I can tell you this, I saw what was going on with my young co-workers (25-35); all were tech spec gamblers that thought they were experts. Multiply that by millions. One actually got sucked into ARKK at $155.
 

RUAldo

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Well, I can tell you this, I saw what was going on with my young co-workers (25-35); all were tech spec gamblers that thought they were experts. Multiply that by millions. One actually got sucked into ARKK at $155.
Some people on this thread called BS on my stories during the madness = the bunch of young guys at the gym talking about buying SPACs…a security guard at my building buying crypto…some Starbucks barista talking about tech stocks with a customer…my co-worker’s 22 year old son who talked her into buying a bunch of BTC …it was laughable how casual these people talked about investments as if they actually knew what they were doing and it would go up forever. They had no clue…zero. Most of them have gotten annihilated which is one of the biggest reasons tech and crypto are in the shitter = they are all out of money and now the govt handouts are over. Where is the new money going to come from?
 

T2Kplus20

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Some people on this thread called BS on my stories during the madness = the bunch of young guys at the gym talking about buying SPACs…a security guard at my building buying crypto…some Starbucks barista talking about tech stocks with a customer…my co-worker’s 22 year old son who talked her into buying a bunch of BTC …it was laughable how casual these people talked about investments as if they actually knew what they were doing and it would go up forever. They had no clue…zero. Most of them have gotten annihilated which is one of the biggest reasons tech and crypto are in the shitter = they are all out of money and now the govt handouts are over. Where is the new money going to come from?
Back to ATHs within 12 months. Stop whining, keep buying.
 

JFP3

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What is going to happen? I am someone whose total investment in crypto was up 4 fold once. If this trend keeps up I will be in the red soon.

I’m gonna hodl and hope the roller coaster goes back up.

boblaw - what say you?
 

RUfromSoCal?

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some of us have seen S&L bubbles, and stock bubbles, and dotcom1.0 bubbles and dotcom2.0 bubbles and housing crisis bubbles and beanie baby bubbles and real estate bubbles and every time I'm told this is different and "you just don't understand"......

not that you can't make good money......... but, don't explain to me how "it's different"......

I laugh.
 

RUAldo

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some of us have seen S&L bubbles, and stock bubbles, and dotcom1.0 bubbles and dotcom2.0 bubbles and housing crisis bubbles and beanie baby bubbles and real estate bubbles and every time I'm told this is different and "you just don't understand"......

not that you can't make good money......... but, don't explain to me how "it's different"......

I laugh.
Of course it’s different LOL. Some guy…or people…or something…named Satoshi Nakamoto…and there’s bitcoins…and Dogecoins …and blockchain…it’s a store of value…no it’s a currency…no it’s digital gold…no it’s DeFi…wait it’s everything…it’s gonna be $100K…$500K…$1M…we’ve literally heard and seen it all…like I’ve said many times, blockchain tech is legit and the metaverse will ultimately prove the utility of NFTs. No doubt There will be great tech advances born from the crypto craze but it won’t be based on worthless coins/tokens. The tech will eventually become divorced from this coin/token structure.
 
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robcac26

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It will go back up, it always does.
Then it will go back down, because it always does that too.

The I-told-you-so's by crypto's proponents in this thread when it's up as if it will stay there and the detractors when it's down as if it's never going back up are laughable, especially when the detractors are presumably invested in the stock market, whose ebbs and flows have closely correlated with crypto's in recent memory anyway.
 
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Ash_Hole

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Hope no one bought into Luna/Terra. Yet another ponzi scheme.

Down 82% today alone. At $5.70 as of posting. Was almost at $120 a month ago. Crypto folks freaking out on social media, as alt coins tanking.
 

RU in IM

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Hope no one bought into Luna/Terra. Yet another ponzi scheme.

Down 82% today alone. At $5.70 as of posting. Was almost at $120 a month ago. Crypto folks freaking out on social media, as alt coins tanking.

Now $3.82, down 87% last 24 hours and 95% for the week.

8:30 am update:

$1.29 down 96% in 24 hours
 
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T2Kplus20

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Hope no one bought into Luna/Terra. Yet another ponzi scheme.

Down 82% today alone. At $5.70 as of posting. Was almost at $120 a month ago. Crypto folks freaking out on social media, as alt coins tanking.
I guess we all know why Terra/LUNA was never listed on Coinbase. LOL! COIN saved a lot of investors.
 

bob-loblaw

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Tulips....look it up. Tulips then and Bitcoin now, pretty much the same thing.
At least attempt to come up with something clever, or something of substance. Maybe go back to being a gaptard or longing for the release of the rocket or jersey joe.

Yup. Along with all the other tech stocks. It’s why I was asking @bob-loblaw of there was a reason they haven’t decoupled
It probably wont decouple until the next halving if I had to guess. By then a supply squeeze will be real. Esp. if a spot etf gets approved.
This will be a big test for crypto because it’s going to take some balls to jump in here and start buying when so many hodlers are in the red.
Its not a test, either you believe or you dont. If you believe, you buy more, if you dont believe you probably didnt believe when it was 4 or 5k after covid, or when it had its blow off top in early 2018.
What is going to happen? I am someone whose total investment in crypto was up 4 fold once. If this trend keeps up I will be in the red soon.

I’m gonna hodl and hope the roller coaster goes back up.

boblaw - what say you?
Whats going to happen is that we're staring down the barrel of a recession. I'm down a ton from highs between tech and crypto. I think the Terra Luna fiasco is going to set back the BTC for some time. From what I see Luna dumped all its BTC holdings to Gemini. They havent been sold yet, but that's not going to help the price short term.

At this point nothing would surprise me in the next 3 mos. 20k - 40k are all in the realm of possibilities. I personally dont think it'll go below 25k, but there's certainly a chance.

The only play here is to set limit orders at a price you're interested in and see if it gets filled. I think we;re looking at a shit filled 18 mos, w BTC slowly trading higher after bottoming the next few mos.

Sorry for being mia. Getting crushed at work, saw I got tagged in a few here so I jumped in for a quick response.
 

Rutgers Chris

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At least attempt to come up with something clever, or something of substance. Maybe go back to being a gaptard or longing for the release of the rocket or jersey joe.


It probably wont decouple until the next halving if I had to guess. By then a supply squeeze will be real. Esp. if a spot etf gets approved.

Its not a test, either you believe or you dont. If you believe, you buy more, if you dont believe you probably didnt believe when it was 4 or 5k after covid, or when it had its blow off top in early 2018.

Whats going to happen is that we're staring down the barrel of a recession. I'm down a ton from highs between tech and crypto. I think the Terra Luna fiasco is going to set back the BTC for some time. From what I see Luna dumped all its BTC holdings to Gemini. They havent been sold yet, but that's not going to help the price short term.

At this point nothing would surprise me in the next 3 mos. 20k - 40k are all in the realm of possibilities. I personally dont think it'll go below 25k, but there's certainly a chance.

The only play here is to set limit orders at a price you're interested in and see if it gets filled. I think we;re looking at a shit filled 18 mos, w BTC slowly trading higher after bottoming the next few mos.

Sorry for being mia. Getting crushed at work, saw I got tagged in a few here so I jumped in for a quick response.
I’m a fan of crypto. I’m a fan of conspiracy theories. Any time you can combine the two, count me in…
 
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Ash_Hole

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FSdexZ0aMAESdR6
 

Ash_Hole

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Luna just hit 2 cents. Wow

Bitcoin 27k, doge 7 cents, ethereum 1.8k

For something to go from $119 to 2 cents in 1 month, has to be organized ponzi scheme dumping right?
 
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RUAldo

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COIN under $50 and the chatter about bankruptcy implications/disclosures and account holder risk likely drives it even lower. The Hedge Funds that shorted this train-wreck have made a fortune.