Cryptocurrency mega-thread

[WaywardSonSon]

If I had any money left, I’d be shorting btc to around 3-5k AUD

Shorting?

 

[dustysnecktattoo]

Shorting?

You’ll have to Google, shorting and longing markets, i suck at explaining things and not an expert but the little I know that should be what to do right now

 

[WaywardSonSon]

You’ll have to Google, shorting and longing markets, i suck at explaining things and not an expert but the little I know that should be what to do right now

I just read a definition, but it involves lending a stock?

 

[Kram]

Whatever happened to Duritz?

Ah the guy that claimed he a long time 'winning' record punting on horses.

 

[dustysnecktattoo]

I just read a definition, but it involves lending a stock?

Like I said I not good for explaining it, I tried in 2020 longing and shorting but it frustrated me and have forgotten it and took the hodl and stake approaches…I am no longer in the crypto game but maybe will re enter when btc hits that 3-5k is what I think it can get down to, some are saying 13k usd but I think a lot lower (opinion not financial advice )

 

[WaywardSonSon]

Like I said I not good for explaining it, I tried in 2020 longing and shorting but it frustrated me and have forgotten it and took the hodl and stake approaches…I am no longer in the crypto game but maybe will re enter when btc hits that 3-5k is what I think it can get down to, some are saying 13k usd but I think a lot lower (opinion not financial advice )

Three to five thousand would be absolutely bonkers! If that happened, we'd all be "whole Coiners"!!!

 

[dustysnecktattoo]

Three to five thousand would be absolutely bonkers! If that happened, we'd all be "whole Coiners"!!!

Not me, I haven’t got a $ on my name and maccas won’t even employ me, rock bottom, crypto helped with that but it gave me some great days for a little while too

 

[WaywardSonSon]

Not me, I haven’t got a $ on my name and maccas won’t even employ me, rock bottom, crypto helped with that but it gave me some great days for a little while too

I won't ask you why, but I hope things get better for you soon mate!

 

[dustysnecktattoo]

I won't ask you why, but I hope things get better for you soon mate!

It was a nuclear bomb of reasons, crypto was one part of it, happened very quickly

I’m still alive, but …. Moving on, very depressing stuff

 

[Seeds]

Sub $20k is go, all it took was 10 months of patience and not drinking the permabull kool aid.

May start throwing some money into CRYP on the ASX and/or buying a little bit of ETH. CRYP is down 79.43% from its ATH and ETH is down 82% off it’s all time high.

May also take a bit of a break from this thread, as I did when the market was at an ATH, as there’s not much to be gained when things are going extraordinarily well/bad.

If you’re one of those ‘crypto is going to change the world and I’m in it for the tech’ people, then now is the time to buy.

If you’re one of those ‘I can’t actually explain it so I’ll drop a YouTube link every time someone asks me to expand on my thoughts and 20% APR is free money’ people you may still be a crypto fan, but now’s the time to start investing in yourself and learning to understand what your money is being invested into.

And if you just bought at 20 k you are already down over 10 percent.

thats a smart investment decision

 

[Seeds]

What a time to be alive! Generational profits may still be available to us after all!!

Making profits by investing in something that has zero profits.

post truth world.

 

[Ghost Patrol]

And if you just bought at 20 k you are already down over 10 percent.

thats a smart investment decision

when it goes back up, will you provide updates in 10% increments?

Or does this service you provide depend on news.com publishing articles?

 

[Seeds]

You can compare anything you want.

True. I could compare a socialist with someone who trades in crypto.

 

[Seeds]

when it goes back up, will you provide updates in 10% increments?

Or does this service you provide depend on the news.com articles?

I didnt provide an update at 20k. Its been a 20 percent fall since i last posted.

 

[WaywardSonSon]

Making profits by investing in something that has zero profits.

post truth world.

This 19-year-old bitcoin millionaire offers 'crucial' advice for young people looking to invest

Erik Finman, a 19-year-old bitcoin millionaire, offers advice for young people to successfully invest their money.

www.cnbc.com

This guy says otherwise...

 

[Seeds]

This 19-year-old bitcoin millionaire offers 'crucial' advice for young people looking to invest

Erik Finman, a 19-year-old bitcoin millionaire, offers advice for young people to successfully invest their money.

www.cnbc.com

This guy says otherwise...

And that kid hasnt made any profit. benefitiing from speculative capital gains driven by herding behaviour is not profit no matter how much neo liberals pretend it is. Profit is being about to produce and sell something that people want for more then it costs.

why are generational profits possible at $20000 now and not when the bitcoin price was $69000. That would imply there is some sort of limit to the price. What do you believe that limit is?

 

[WaywardSonSon]

And that kid hasnt made any profit. benefitiing from speculative capital gains driven by herding behaviour is not profit no matter how much neo liberals pretend it is. Profit is being about to produce and sell something that people want for more then it costs.

I'm not a Neo Liberal, and you seem to be pushing an agenda. Ta ta.

 

[Seeds]

I'm not a Neo Liberal, and you seem to be pushing an agenda.

As compared to pushing the ponzi scheme agenda of "invest in this now" so I can get rich.

crypto is a neo liberal game. If you believe in crypto you are adopting a neo liberal anti government world view. The definition of profit you have used is a neo liberal one.

 

[WaywardSonSon]

As compared to pushing the ponzi scheme agenda of "invest in this now" so I can get rich.

crypto is a neo liberal game. If you believe in crypto you are adopting a neo liberal anti government world view. The definition of profit you have used is a neo liberal one.

Wake up

 

[Ghost Patrol]

As compared to pushing the ponzi scheme agenda of "invest in this now" so I can get rich.

crypto is a neo liberal game. If you believe in crypto you are adopting a neo liberal anti government world view. The definition of profit you have used is a neo liberal one.

Do you think Doge (Do Only Good Everyday) is a neo liberal game?

 

[LongBombFromOutside50]

Or perhaps its not a winter at all and just the start of the end.

can we stop using the term crypto winter. Its another crypto propogandist buzz term used to imply the all crypto falls are just part of a cycle that will definately rebound. There is zero reason why it should rebound? crypto prices aint driven by an inevitable cycle like a season.

the whole point of crypto orginally is that it was supposed to be a hedge against currency inflation. I.e. Hold its value when the value of money fell. Its doing the opposite right now so we cant pretend there is any crypto cycle that makes logical sense. It makes logical sense for productive stocks to move up and down with the market cycle. But it does not make sense for crypto to do the same.

Mm not really.
The USD was losing value from March 2020 - late 2021 due to the reckless QE and money printing from the Fed (Simplistically: increase in supply = decrease in value). During that time is when BTC almost did a 25x and went from $3.5k to $69k.
Right now, the USD is gaining strength as the Fed are tightening and raising rates. And, the value of BTC vs USD is falling.

It sucks to see so many people who got in late lose money. Bear markets will create some serious resiliency in people.

Anyway to answer Chief 's question of why BTC will return back to all time highs, here is my view:

• Fed will crank rates to cool inflation until inflation is under control.
• This will create a global recession. Stock and crypto will plummet (already happened). Property is next.
• So the Fed will need to stimulate again to give the economy the drug it needs.
• This (coincidentally) should time well with the next BTC halving.
• And... BOOM! Bull market back on. Permabulls will then start to reappear again (at least the ones who survived this bear market).

 

[Seeds]

Mm not really.
The USD was losing value from March 2020 - late 2021 due to the reckless QE and money printing from the Fed (Simplistically: increase in supply = decrease in value). During that time is when BTC almost did a 25x and went from $3.5k to $69k.
Right now, the USD is gaining strength as the Fed are tightening and raising rates. And, the value of BTC vs USD is falling.

It sucks to see so many people who got in late lose money. Bear markets will create some serious resiliency in people.

Anyway to answer Chief 's question of why BTC will return back to all time highs, here is my view:

• Fed will crank rates to cool inflation until inflation is under control.
• This will create a global recession. Stock and crypto will plummet (already happened). Property is next.
• So the Fed will need to stimulate again to give the economy the drug it needs.
• This (coincidentally) should time well with the next BTC halving.
• And... BOOM! Bull market back on. Permabulls will then start to reappear again (at least the ones who survived this bear market).

If inflation is rising 8 percent as it is currently then the us dollar is losing its purchasing power. You have confused exchange rates with purchasing power.

Nearly all currencies are losing their purchasing power at the moment as inflation is high in most regions. I.e. A us dollar today can only consume 92 percent of what it could consume a year ago. This is the falling value in money.

crypto was supposed to protect against this because its supply is finite. But its value in purchasing power is falling even faster then us dollars. A lot more in fact.

 

[Seeds]

Do you think Doge (Do Only Good Everyday) is a neo liberal game?

yep. Its the very definition.

Are Cryptocurrencies Taking us One Step Closer to a Neoliberal Dreamland?

Decentralised currencies are being celebrated as a game-changer, but placing so much faith in the market is dangerous

medium.datadriveninvestor.com

 

[LongBombFromOutside50]

If inflation is rising 8 percent as it is currently then the us dollar is losing its purchasing power. You have confused exchange rates with purchasing power.

Nearly all currencies are losing their purchasing power at the moment as inflation is high in most regions. I.e. A us dollar today can only consume 92 percent of what it could consume a year ago. This is the falling value in money.

crypto was supposed to protect against this because its supply is finite. But its value in purchasing power is falling even faster then us dollars. A lot more in fact.

You're missing a key point, and that is that markets are always forward looking. Hence when the market expects the US dollar to lose its purchasing power (from an expectation that the fed will stimulate either by QE or lowering rates), BTC will increase in value.

To prove my point, keep an eye out for the next CPI print. If it's lower than expected, BTC will pump (due to a belief that the fed will be more likely to stimulate sooner). If higher than expected, BTC will dump (due to a belief that the fed will tighten more than is expected).

 

[Seeds]

Wake up

Yeah that guy is a neo liberal. He calls himself a freedom maximalist for crying out loud.

freedom, freedom, freedom. Who chants that? Oh wait. Its neo liberals.


the more progressive economists advocate for higher inflation rate targets. This guy wants zero inflation rate targets. Inflating Money printing is a way for governments to provide government services without raising progressive tax rates. Its also a way to devalue debt, which helps out the poorer guy on a large mortgage.

here's a link describing what freedom maximalism is. You may note its full of references from neo liberal heroes such as frederic basiatist and murray rothbard with links to the mises insititute. I used to read this stuff in my younger years before i switched to a more progressive world view.