Cryptocurrency mega-thread

[Evolved1]

Bloomberg - Are you a robot?

 

[Evolved1]

 

[Evolved1]

One month within this range now.

 

[WaywardSonSon]

One month within this range now.

Is that a good thing?

 

[Evolved1]

Is that a good thing?

It's neutral. Traders generally wait for a break in either direction.

I think we go up first.

 

[seasonedsainter]

Stack sats

--

 

[The Dice Man]

Stack sats

--

At this stage I feel like Im throwing money into a Pokie thinking eventually the jackpot has to come.

 

[beez]

"Character building"

 

[Evolved1]

It's not looking pretty. The 200WMA looks likely to be hit in the coming weeks/months.

You can always short...

Look for alts that haven't dropped as heavily as others. For example, TRX is only down 60% from the highs.

 

[Evolved1]

CZ is gonna save us!

 

[moncon]

B E S E

BUY ETH STAKE ETH

 

[Messenger]

The Navy thing.

Why does it need investors to buy tokens?

So they are locked into that environment.

Have you heard of governance before in crypto?

Have they?

 

[Nothing]

How low can we go!

 

[Seeds]

Price of BTC when Seeds came to tell us it was going to zero $29,200
Current price $31,200

Price increase 7%

one month later. how is it looking?

 

[Seeds]

No one can predict the bottom anymore though, it could go a lot further down or it could have reached the bottom now, who the hell knows

No i can predict it. Its zero.

 

[Seeds]

Remember how internet stocks went up?
Remember when someone said the world only needed 5 computers?

yep well thats why bitcoins will go up!



am i doing crypto propoganda right?


if crypto is supposed to be money then it would be going up on horrible US inflation reports. Yet it does the opposite. Ergo not money.

So what is it then? Something something blockchain.

and how much is blockchain worth? 50 trillion dollars.

Why is it worth that much?

i dont know. Cos um its replacing money.

but its not.

 

[Ghost Patrol]

Remember how internet stocks went up?
Remember when someone said the world only needed 5 computers?

yep well thats why bitcoins will go up!



am i doing crypto propoganda right?

Checks news.com.

Like clockwork Seeds. You sure have a knack for these things.

 

[Evolved1]

Remember how internet stocks went up?
Remember when someone said the world only needed 5 computers?

yep well thats why bitcoins will go up!



am i doing crypto propoganda right?


if crypto is supposed to be money then it would be going up on horrible US inflation reports. Yet it does the opposite. Ergo not money.

So what is it then? Something something blockchain.

and how much is blockchain worth? 50 trillion dollars.

Why is it worth that much?

i dont know. Cos um its replacing money.

but its not.

Crypto is a risk-on asset class.

While rates are rising, the economy is going down the toilet and inflation is high, stocks, property, and crypto will struggle.

The price action is actually fairly typical of this point in the bitcoin halving cycle. The next halving is due in 2024 and will likely kickstart the next bull run.

 

[Seeds]

Checks news.com.

Like clockwork Seeds. You sure have a knack for these things.

to be fair news.com has been posting about this all week. even the neoliberal capitalist loving news.com that for years was posting heartwarming stories of kids from rich families making fortunes off crypto is turning anti crypto. now if that aint a sign the rats are deserting the ship i dont know what is.

 

[Evolved1]

Checks news.com.

Like clockwork Seeds. You sure have a knack for these things.

What a shitty headline they're using. I could have sworn I've seen BTC lower than $24k USD.

 

[Seeds]

Crypto is a risk-on asset class.

While rates are rising, the economy is going down the toilet and inflation is high, stocks, property, and crypto will struggle.

The price action is actually fairly typical of this point in the bitcoin halving cycle. The next halving is due in 2024 and will likely kickstart the next bull run.

so its an asset now? What does this asset produce?

houses produce desirable places for people to live and show off status.

stocks are ownership in firms for the purpose of recieving profit.

You dont buy these things for the capital appreciation. At least smart people dont.

both house prices and stock prices fall to zero if they cant produce these outcomes.


what benefit does crypto produce and why would it be valued as much as it is?

 

[Seeds]

What a shitty headline they're using. I could have sworn I've seen BTC lower than $24k USD.

View attachment 1422999

Gees news.com hasnt done sensationalist headlines ever before.

oh wait. Only all the time.

 

[Chief]

In any case this isn't the place for attacking crypto.

 

[Evolved1]

so its an asset now? What does this asset produce?

houses produce desirable places for people to live and show off status.

stocks are ownership in firms for the purpose of recieving profit.

You dont buy these things for the capital appreciation. At least smart people dont.

both house prices and stock prices fall to zero if they cant produce these outcomes.


what benefit does crypto produce and why would it be valued as much as it is?

The definition of 'asset' doesn't require production.

The market has decided that crypto has value, which is all that's necessary to meet the definition of an asset.

Bitcoin is over 10 years old now which gives reason to believe it's here to stay. Most altcoins have one cycle, then go back to irrelevancy. I believe in bitcoin long term and am actually happy to see it go down because I have cash ready to buy.

 

[Seeds]

In any case this isn't the place for attacking crypto.

The crypto mega thread isnt the place to criticise crypto? Really?

where is that then? happy to start another thread on that. crypto is an immoral blight on modern society that will end up destroying hundreds of thousands of lives if not millions. If you allow the crypto progogandists freedom to post their propoganda like "stay strong", "true believes hold", "this downturn is just cleaning out the newbs" without openness to criticism even though educated experts know its a hoax then are we not partly complicit?

ps. If there was an anti vaxer thread on big footy would you not allow doctors to go on there and criticise it?