Cryptocurrency mega-thread

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Seeds said:
Whats happened to Luna will happen to all crypto. Do not invest.

crypto was only going to work if it replaced money. but now we know it wont do that. Its not a stable store of wealth nor a flexible medium of exchange. Thus it fails at being money.

and heres the real kicker that people just dont get. If it did satisfy the rules of money then governments would ban them. Governments need a monopoly on money otherwise they cant employ fiscal policy effectively. The only reason governments havent cancelled crypto is because it hasnt been acting as money so it has never been a realistic threat.

Crypto is just a speculative asset. And like all speculative assets its ultimate value will be determined by its real value to the economy.

and its real value is almost zero.

dont be fooled by those who say newbie investors lose their nerve and money while the experts stick at it and become rich. Its propoganda to help pump up their own holdings.

we will be studying about crypto soon in the same way we study about other asset booms. And we will all be left wondering why the fools didnt see the crash coming.

this time is not different. Crypto is not the biggest bubble of all time. There is nothing special about it.

dont be one of the fools we will soon study and pity.

i post this to help you. if you dont heed the advice dont say no one ever warned you. Do your research.
Click to expand...

Sounds like woke financial advice Seeds.
 

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WaywardSonSon said:
How do you know that?
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Macro climate still stinks, until there is a sustained downtrend in the CPI print to confirm inflation has peaked, liquidity is not pumping into any financial market. US Fed also starts reducing their balance sheet in June. May-July are also historically crap months in stocks and crypto.

Tedtalksmacro is an Aussie on Twitter that is elite at describing the macro in relation to crypto.
 
BACCS said:
Macro climate still stinks, until there is a sustained downtrend in the CPI print to confirm inflation has peaked, liquidity is not pumping into any financial market. US Fed also starts reducing their balance sheet in June. May-July are also historically crap months in stocks and crypto.

Tedtalksmacro is an Aussie on Twitter that is elite at describing the macro in relation to crypto.
Click to expand...

Yeah pretty much. No one knows what price the absolute nut bottom will be, but between now and the end of the year is the perfect time to DCA into bitcoin if you have spare cash (even better if you get it below $30k). Honestly I would be steering clear of alts right now until the macro climate improves and the market turns bullish again (probably not until early next year at the earliest).

EDIT: Also remember that bitcoin has already tested 65% below it's all time high. Usually it tests 85% below. However the blow off top wasnt as big previous cycles so wouldn't surprise me if it only falls 70%, which would make the bottom around ~$20k. Just speculating there obviously.
 

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Is the Bitcoin Spot ETF still going to take place?
 
Seeds said:
Whats happened to Luna will happen to all crypto. Do not invest.
Click to expand...
Bitcoin has a 13 year history, and is likely here to stay. The richest person in the world is personally invested and his opinion carries more weight than yours or mine.
Seeds said:
crypto was only going to work if it replaced money. but now we know it wont do that. Its not a stable store of wealth nor a flexible medium of exchange. Thus it fails at being money.

and heres the real kicker that people just dont get. If it did satisfy the rules of money then governments would ban them. Governments need a monopoly on money otherwise they cant employ fiscal policy effectively. The only reason governments havent cancelled crypto is because it hasnt been acting as money so it has never been a realistic threat.
Click to expand...
Crypto has been banned many times by many governments. Banning bitcoin in Australia will probably be equally effective as banning marijuana.

Seeds said:
Crypto is just a speculative asset. And like all speculative assets its ultimate value will be determined by its real value to the economy.
Click to expand...
What do you mean by speculative? Crypto is being utilised for real world transactions. The latest company to be onboarded is Emirates airlines.

tickernews.co

Emirates Airline to accept Bitcoin as a form of payment

It may have been a horror few weeks for cryptocurrencies, but UAE airline Emirates has revealed it will be accepting Bitcoin as a payment service. The moved was announce by the company Chief Operating Officer Adel Ahmed Al-Redha. The airline is planning to recruit personnell to create...
tickernews.co tickernews.co

Seeds said:
and its real value is almost zero.
Click to expand...
According to you. Lemme guess...the market is wrong.
Seeds said:
dont be fooled by those who say newbie investors lose their nerve and money while the experts stick at it and become rich. Its propoganda to help pump up their own holdings.

we will be studying about crypto soon in the same way we study about other asset booms. And we will all be left wondering why the fools didnt see the crash coming.
Click to expand...
The stockmarket is down. Crypto is down. Housing is down. You don't see a correlation?

Historically, crypto marketcycles are fairly predictable around BTC halvings. Do you know anything about bitcoin halvings?

Seeds said:
this time is not different. Crypto is not the biggest bubble of all time. There is nothing special about it.

dont be one of the fools we will soon study and pity.

i post this to help you. if you dont heed the advice dont say no one ever warned you. Do your research.
Click to expand...
Exactly. This time isn't different.

1. We'll have another ATH for bitcoin eventually, most likely in the next cycle.
2. Someone like you will be here to tell us why it's speculative or tulip mania when bitcoin crashes from $100k to $50k.
 
Evolved1 said:
Bitcoin has a 13 year history, and is likely here to stay. The richest person in the world is personally invested and his opinion carries more weight than yours or mine.

Crypto has been banned many times by many governments. Banning bitcoin in Australia will probably be equally effective as banning marijuana.


What do you mean by speculative? Crypto is being utilised for real world transactions. The latest company to be onboarded is Emirates airlines.

tickernews.co

Emirates Airline to accept Bitcoin as a form of payment

It may have been a horror few weeks for cryptocurrencies, but UAE airline Emirates has revealed it will be accepting Bitcoin as a payment service. The moved was announce by the company Chief Operating Officer Adel Ahmed Al-Redha. The airline is planning to recruit personnell to create...
tickernews.co tickernews.co


According to you. Lemme guess...the market is wrong.

The stockmarket is down. Crypto is down. Housing is down. You don't see a correlation?

Historically, crypto marketcycles are fairly predictable around BTC halvings. Do you know anything about bitcoin halvings?


Exactly. This time isn't different.

1. We'll have another ATH for bitcoin eventually, most likely in the next cycle.
2. Someone like you will be here to tell us why it's speculative or tulip mania when bitcoin crashes from $100k to $50k.
Click to expand...
Crypto is going down with the market (well a lot more then the market) cos it's viewed as a financial asset. And an incredibly risky one at that. Not money. If it was viewed as money it would not go down with the stock market.

A couple of companies that don't have a clue about economics trying to use it as money are just outliers. If there was a lot of them then crypto would not be falling with stocks. As it would rise against stocks like actual money currently is.

We have had asset bubbles last this long before. Asset bubbles are much higher then crypto and then crash down to zero.

And other then China and a few outliers countries have not banned it. They will though if lots of firms demanded crypto in payment. Governments need you using their own currency as payment for both tax collection and so they can provide fiscal stimulus to smooth the cycle.

And that richest man on the planet is trying to pump crypto for his own short term gains cos he has the power to manipulate the market to make himself richer. I highly doubt he actually believes in its long term sustainability.
 
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Evolved1 said:
Bitcoin has a 13 year history, and is likely here to stay. The richest person in the world is personally invested and his opinion carries more weight than yours or mine.

Crypto has been banned many times by many governments. Banning bitcoin in Australia will probably be equally effective as banning marijuana.


What do you mean by speculative? Crypto is being utilised for real world transactions. The latest company to be onboarded is Emirates airlines.

tickernews.co

Emirates Airline to accept Bitcoin as a form of payment

It may have been a horror few weeks for cryptocurrencies, but UAE airline Emirates has revealed it will be accepting Bitcoin as a payment service. The moved was announce by the company Chief Operating Officer Adel Ahmed Al-Redha. The airline is planning to recruit personnell to create...
tickernews.co tickernews.co


According to you. Lemme guess...the market is wrong.

The stockmarket is down. Crypto is down. Housing is down. You don't see a correlation?

Historically, crypto marketcycles are fairly predictable around BTC halvings. Do you know anything about bitcoin halvings?


Exactly. This time isn't different.

1. We'll have another ATH for bitcoin eventually, most likely in the next cycle.
2. Someone like you will be here to tell us why it's speculative or tulip mania when bitcoin crashes from $100k to $50k.
Click to expand...
Crypto is going down with the market (well a lot more then the market) cos it's viewed as a financial asset. And an incredibly risky one at that. Not money. If it was viewed as money it would not go down with the stock market.

A couple of companies that don't have a clue about economics trying to use it as money are just outliers who are trying to appeal to young people. If there was a lot of them then crypto would not be falling with stocks. As it would rise against stocks like actual money currently is.

We have had asset bubbles last this long before. Asset bubbles that have gone much higher then crypto and then crash down to zero. They all crash to zero eventually.

And other then China and a few outliers, countries have not banned it. They will though if lots of firms demanded crypto in payment. Governments need you using their own currency as payment for both tax collection and so they can provide fiscal stimulus to smooth the cycle.

And that richest man on the planet is trying to pump crypto for his own short term gains cos he has the power to manipulate the market to make himself richer
 
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Is the Bitcoin Spot ETF still going to take place?
 
Seeds said:
Crypto is going down with the market (well a lot more then the market) cos it's viewed as a financial asset. And an incredibly risky one at that. Not money. If it was viewed as money it would not go down with the stock market.

A couple of companies that don't have a clue about economic trying to use it as money are just outliers. If there was a lot of them then crypto would not be falling with stocks. As it would rise against stocks like actual money currently is.

We have had asset bubbles last this long before. Asset bubbles are much higher then crypto and then crash down to zero.

And other then China and a few outliers countries have not banned it. They will though if lots of firms demanded crypto in payment. Governments need you using their own currency as payment for both tax collection and so they can provide fiscal stimulus to smooth the cycle.

And that richest man on the planet is trying to pump crypto for his own short term gains cos he has the power to manipulate the market to make himself richer. I highly doubt he actually believes in its long term sustainability.
Click to expand...
Crypto has a higher beta than stocks and property, so it moves in the same direction as other asset classes, but moreso.
corporatefinanceinstitute.com

Beta

The beta (β) of an investment security (i.e., a stock) is a measurement of its volatility of returns relative to the entire market. It is used as a measure of risk and
corporatefinanceinstitute.com corporatefinanceinstitute.com

Bitcoin can't be banned because there's no single point of failure. If governments wanted to take legal action, how will they find the CEO of bitcoin?

Elon has no need for pump n dumps to make him rich. He's called bitcoin overpriced after buying, so I doubt he is motivated by pumping the price of his holdings. He did similar with Tesla too.
 
Evolved1 said:
Crypto has a higher beta than stocks and property, so it moves in the same direction as other asset classes, but moreso.
corporatefinanceinstitute.com

Beta

The beta (β) of an investment security (i.e., a stock) is a measurement of its volatility of returns relative to the entire market. It is used as a measure of risk and
corporatefinanceinstitute.com corporatefinanceinstitute.com

Bitcoin can't be banned because there's no single point of failure. If governments wanted to take legal action, how will they find the CEO of bitcoin?

Elon has no need for pump n dumps to make him rich. He's called bitcoin overpriced after buying, so I doubt he is motivated by pumping the price of his holdings. He did similar with Tesla too.
Click to expand...

Kinda like how the government take action even though there is no CEO of cocacine or marijuana?


Sent from my iPhone using Tapatalk
 
AndyD said:
Kinda like how the government take action even though there is no CEO of cocacine or marijuana?


Sent from my iPhone using Tapatalk
Click to expand...
Cocaine and marijuana are already illegal, and the government can't stop them.

Our government could make crypto illegal, but that would only serve to show the necessity of bitcoin. Any cryptocurrency with a central point of failure would be shut down.

Good luck shutting down bitcoin.
 
They'd shut down the Australian based exchanges. Fiat on and off ramping probably gets harder.

Bit harder to ban a hardware wallet and a VPN though
 
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