An insight on Bitcoin

[Strawberry]

https://cryptoslate.com/ethereum-min...perfect-storm/

Etherum mining is no longer profitable. This is the first time it hasn't been profitable since...2022. Not exactly a good track record.

As someone who has been mining on and off since 2017 this is incorrect. 2018 was the year that mining was as useless as it is now. I picked up mining again 2020 when the new cards hit.
Mining goes in waves. It sometimes is profitable, sometimes isn't.
And even if Ethereum goes Proof of Stake, it won't change much, there will always be another coin to mine.

[Zan15]

Was there something about crypto being a hedge against inflation?

All kidding aside. For me, this is a good time to pick up Meta, Alphabet, Apple, Amazon, Disney and Microsoft stocks.

yah i was thinking about getting MS for my daughters IRA. her work doesn't give her a 401k.

she just started and I have half of it in the sp500 index averaged around 385.


Say did you get out of DocuSign before the big downturn?

[Rasulis]

yah i was thinking about getting MS for my daughters IRA. her work doesn't give her a 401k.

she just started and I have half of it in the sp500 index averaged around 385.


Say did you get out of DocuSign before the big downturn?

My wife bought DocuSign. She decided to ride it out. She thinks that the company will be the gold standard for digital contracts. We'll see.

[stevenho]

Hmm, will this be dotcom boom and bust 2.0? I remember back in the late 90s where every idea for the internet had money thrown at it. Biggest one was Pets.com with their Superbowl commercial then shortly thereafter, the entire tech market went belly up.

And yet we ended up with internet and its companies being gigacap giants of current economy, ubiquitous and irreplaceable.

[Zan15]

My wife bought DocuSign. She decided to ride it out. She thinks that the company will be the gold standard for digital contracts. We'll see.

yah long term they look good i just don't seem them getting insane valuations anymore. Though this is true about 95% of the market right now.

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And yet we ended up with internet and its companies being gigacap giants of current economy, ubiquitous and irreplaceable.

most of those gigacap companies are no longer around, just a few survived. It's what came after that really thrived.

of the top 5-10+ i think only Microsoft and Intel was part of the original dot com boom that made it out alive. MS is the only one that recovered and grew exponentially.

Intel still has not recovered to dot com highs. they almost got there prior to the latest fumbles.
amazon did not start really growing till 2010-2014
google did not even go public till 2004
Facebook 2004
Netflix didn't start streaming till what 2014?
Apple sat out the dot com boom, they didn't get going till the ipod decade+ later.

maybe ebay? Priceline got gobbled up maybe?
Cisco worth 1/5th.

Not quite gigacap but...

Oracle seems to have done it.
IBM made it out and is ahead.



so i guess some crypto could survive and thrive, but they have a lot of growing to do.
they'd have to pull off a netflix and pivot into something much greater than they are now.

[stevenho]

most of those gigacap companies are no longer around, just a few survived. It's what came after that really thrived.

Yep. I'm talking about the tech, not company names.

[Milchshake]

Except jake Paul is gen z ...
Christ

Tonight i'll be serving a delicious entrée made from the Cope of Jake Paul fans
*chef's kiss*

[stevenho]

His broke is having 10 mil instead of 100 mil.
Doubt anyone here can relate.

[gondrin]

His broke is having 10 mil instead of 100 mil.
Doubt anyone here can relate.

At the rate Bitcoin and crypto is going, he will be actually broke. Bitcoin has dropped nearly another 10% in 2 hours(or roughly 2000). Etherium is nearly under 1000. The biggest news is the exchanges are all freezing up and refusing to let people take out, sell or transfer their tokens.

[Muzjhath]

At the rate Bitcoin and crypto is going, he will be actually broke. Bitcoin has dropped nearly another 10% in 2 hours(or roughly 2000). Etherium is nearly under 1000. The biggest news is the exchanges are all freezing up and refusing to let people take out, sell or transfer their tokens.

Well, those exchanges were never liquid in the first place and most of them only got their profits (and the actual money in crypto) through transaction fees.

[Ripster42]

The biggest news is the exchanges are all freezing up and refusing to let people take out, sell or transfer their tokens.

In which crypto learns about bank runs.

[hellhamster]

As long as the Fed has pulled the plug, all markets are obliterated, no exceptions. These central banks were solely responsible for all the pumps in the last decade.

All markets will eventually bleed out, with order of risk. Crypto contains the highest risk, so that goes kaput first. Equities have already followed, but they still have a long way to go, and the real fun part will start once debt and bonds get involved. High risk, high debt/GDP countries in the Eurozone like Italy and Greece will go belly up.

Assuming a stagflating financial environment, crypto will be the first to recover when the Fed reverses their position and resumes the money printing. My estimate is mid 2024, but that can be accelerated once unemployment hits double digits and oil and gas calm down. That will signify the central banks to turn the printers back on. Until then, there is no bottom, and no indicator that can be trusted.

Stay the fuck out of the markets for the foreseeable future. The only real money to be made is shorting and scalping, but that is always dangerous.

I've been extremely bearish since November last year, and my position hasn't changed yet.

[Rasulis]

As long as the Fed has pulled the plug, all markets are obliterated, no exceptions. These central banks were solely responsible for all the pumps in the last decade.

All markets will eventually bleed out, with order of risk. Crypto contains the highest risk, so that goes kaput first. Equities have already followed, but they still have a long way to go, and the real fun part will start once debt and bonds get involved. High risk, high debt/GDP countries in the Eurozone like Italy and Greece will go belly up.

Assuming a stagflating financial environment, crypto will be the first to recover when the Fed reverses their position and resumes the money printing. My estimate is mid 2024, but that can be accelerated once unemployment hits double digits and oil and gas calm down. That will signify the central banks to turn the printers back on. Until then, there is no bottom, and no indicator that can be trusted.

Stay the fuck out of the markets for the foreseeable future. The only real money to be made is shorting and scalping, but that is always dangerous.

I've been extremely bearish since November last year, and my position hasn't changed yet.

I am a big believer in “buy when there's blood in the streets.” When you can afford it obviously. Best returns in investment we have had were from ones made during times like this.

The Mission Bay condo that we bought during the 1990 real estate collapse sold for 15 times the original purchase price in 2020. Plus 30 years worth of rental revenue.

After we finished a housing development project that we had worked on for 10 years, we put all the proceed into the stock market in 2004, left for China for 3 years. Most went into tech which was still reeling from the 2000 dot.com bust. Best financial decision ever was not to look back and left those accounts alone.

When we bought our home in late 2020, we were told to wait. People were leaving San Francisco and price of real estate will go down. It is now up by over 70%.

Rivers of blood are running in the streets now. Time to put your conviction to the test and invest in companies that you believed in. Be a contrarian.

BTW, the complete quote is “Buy when there's blood in the streets, even if the blood is your own.”

[NED funded]

I hope bitcoin crashes and burns taking down everyone that got very involved in this <3

[hellhamster]

I hope bitcoin crashes and burns taking down everyone that got very involved in this <3

Schadenfreude is a sign of sociopathic behavior.

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I am a big believer in “buy when there's blood in the streets.” When you can afford it obviously. Best returns in investment we have had were from ones made during times like this.

The Mission Bay condo that we bought during the 1990 real estate collapse sold for 15 times the original purchase price in 2020. Plus 30 years worth of rental revenue.

After we finished a housing development project that we had worked on for 10 years, we put all the proceed into the stock market in 2004, left for China for 3 years. Most went into tech which was still reeling from the 2000 dot.com bust. Best financial decision ever was not to look back and left those accounts alone.

When we bought our home in late 2020, we were told to wait. People were leaving San Francisco and price of real estate will go down. It is now up by over 70%.

Rivers of blood are running in the streets now. Time to put your conviction to the test and invest in companies that you believed in. Be a contrarian.

BTW, the complete quote is “Buy when there's blood in the streets, even if the blood is your own.”

There's not blood on the street yet, in fact we are not even close. The Fed hasn't even begun selling. They said they would begin selling assets by June, but so far they have only increased their balance sheet.

When they truly decide to dump, it will be cataclysmic and the markets won't handle it. Then we will witness blood on the street.

[Rasulis]

Schadenfreude is a sign of sociopathic behavior.

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There's not blood on the street yet, in fact we are not even close. The Fed hasn't even begun selling. They said they would begin selling assets by June, but so far they have only increased their balance sheet.

When they truly decide to dump, it will be cataclysmic and the markets won't handle it. Then we will witness blood on the street.

What's your definition of blood in the streets? Bitcoin is now 19k. Less than one-third of peak in November. How about the other cryptos? Yikes. Looks like a bloodbath to me. Not to mention that you were the one telling people "Stay the fuck out of the markets for the foreseeable future."

For long-term investors, this is the best time to pick up stock of companies with sound financial footing - Apple, Microsoft, Disney, Meta, Alphabet, Amazon, Walmart, Costco and Target on the cheap.

[hellhamster]

What's your definition of blood in the streets? Bitcoin is now 19k. Less than one-third of peak in November. How about the other cryptos? Yikes. Looks like a bloodbath to me. Not to mention that you were the one telling people "Stay the fuck out of the markets for the foreseeable future."

For long-term investors, this is the best time to pick up stock of companies with sound financial footing - Apple, Microsoft, Disney, Meta, Alphabet, Amazon, Walmart, Costco and Target on the cheap.

Crypto right now is in freefall, no one knows where the bottom ends and there's a lot of volatility down macro wise.

[Twdft]

Crypto right now is in freefall, no one knows where the bottom ends and there's a lot of volatility down macro wise.

Crypto does not have any inherent value. It can very well crash to zero and always could have.

[Veggie50]

People are learning that crypto currency is just a byproduct of block chain technology, not its intent. Block chain itself is too complicated for most to understand, so some of its proponents have deviced “promotion points” that sound technical and based on expertise, but are generally falsehoods. Some of these are:

1) crypto is inflation proof

This harkens to the idea that the only cause for inflation is the federal banks printing money. This is a ludicrous and frankly childish idea. The main drive of inflation is shortage. Crypto is not immune to this.

2) it’s essentially the same as the stock market

This plays into people not actually understanding what the stock market is. A stock is at its core not a speculation device, but a purchase of a share of the underlying companies profits. When the expectation of higher profits comes, the value of a % share rises. Since the conception of this idea and the rise of wallstreet, people have found that the rise in percieved value can be more profitable than dividend payments, and even more greedy souls have made derivative products stacked upon derivative products, there is still a core of profit buying to stocks. Crypto currency lacks this core. The ONLY thing deciding market price, is the amount of new people that want to buy in. That amount has been high because people saw soaring profits, but it is exactly the definition of a pyramid scheme. As most of us know, the first ones in on a pyramid scheme profit, the last ones out lose everythint.

3) crypto cuts out the bank middleman and is therefore cheaper

This is a falsehood. The current establishment gets cut out, but you still need platforms to trade on. The lack of regulation on this regularly causes a lot of damage.

[Edge-]

https://www.reddit.com/r/CryptoCurre..._on_solana_is/

Ah the benefits of decentralized crypto, where a single whale can literally risk the network.

The solutions?

- Let it fly, and hope it doesn't all come crashing down.
- Have Solend Labs literally take the whales crypto and liquidate via OTC with "smart contracts" that aren't as smart as they once seemed to be

The user apparently voluntarily agreed to hand their crypto over.

I'm sure this is all somehow actually the fault of the Fed and not that crypto is just a den of grifters who built chains and networks on the premise of perpetual growth and seemingly never considered the consequences.

Also, crypto seeming a lot less decentralized than I've been told it was for all these years.

I feel like a while ago there was a discussion about how many whales existed in crypto and how they were functionally able to control markets by themselves, while being assured that such a thing was never possible with the decentralized crypto networks.

I swear, it's like watching cryptobros re-learn markets and basic economics and why regulation can actually matter, but because these are techbros who are also reinventing paper (cloth) money and banks this is all brand new for them.

Seriously, /r/cryptocurrency is the best place to be if you're just wanting to watch dumpster fire after dumpster fire.

In some good news - https://www.digitaltrends.com/comput...-crypto-crash/

GPU prices might be returning to normal as crypto markets collapse and there's less demand for mining, including seeing some chains become literally unprofitable to mine. Great news overall, hopefully it means that GPU makers have to spend less effort trying to make newer cards less attractive to mining use and frees up more supply for everyone else that just wants to play some pretty videogames.

But again, I'm sure that all these problems are somehow all caused by the Fed, who apparently literally control the global markets!