Crypto is Crashing HARD - opportunity.....

[Nomis Elpmis]

If you sort the first page of 'Coinmarket Cap' for '7 day % performance' best to worst, BSV is ranked #15. However, there are 11 stable coins and 2

exchange tokens ahead of BSV in performance. If you don't count the stable coins and exchange tokens (they do have utility though), BSV is #2

best performing in this bear market (of the top 100 coins by market cap) at the moment. But a blockchain protocol called Helium (HNT) is #1. Its

designed for the 'internet of things' and uses a network 'proof of coverage' consensus. Never heard of Helium until I saw it hold its value in this

selloff. Its not a 'proof of work' consensus, so not to worry, it's not secure. Bear markets cause 'flight to quality' and in crypto that means 'flight to

utility', coins with real use cases.

 

[Nomis Elpmis]

2 more USD stable coins have lost their peg. (market caps listed on the right)

 

[chieftain]

Just found out a friend of a friend was just wiped out because of his BTC shenanigans. Story goes he bought in a month ago at the dead cat bounce...

 

[Mujahideen]

More exchanges having problems.

 

[<SLV>]

Just found out a friend of a friend was just wiped out because of his BTC shenanigans. Story goes he bought in a month ago at the dead cat bounce...

And he just sold? You only lose if you sell for a loss.

 

[the_shootist]

Just found out a friend of a friend was just wiped out because of his BTC shenanigans. Story goes he bought in a month ago at the dead cat bounce...

Wasn't that about the time some folks here were telling us all to buy buy buy crypto?

 

[EO 11110]

Oh please. Crypto was discussed long before the top and in fact you are still talking about it today. Not exactly an indicator.

volume matters. there were many times more threads at the top than not at the top. so much so that i posted about how this place had morphed from gold is money to crypto is money. the crypto pumping far FAR exceeded the gold/silver threads

the ultimate is the fact that this was happening on a GOLD IS MONEY forum. a clearer indicator of a top doesnt exist.....as the LAST of potential buyers were pumping it

similar to taxi drivers/shoeshine boys giving stock tips in the tech 2000 bubble

 

[EO 11110]

let's quantify the crypto is money top tick action to today -- using the two most popular codes on the crypto is money website (formerly gim)

bitcoin -- down from 69 to 21.....70 percent loss

ethereum -- down from 47 to 11......77 percent loss

again, we should've seen it coming by the action at the GOLD shoeshine boy forum

 

[Mujahideen]

volume matters. there were many times more threads at the top than not at the top. so much so that i posted about how this place had morphed from gold is money to crypto is money. the crypto pumping far FAR exceeded the gold/silver threads

the ultimate is the fact that this was happening on a GOLD IS MONEY forum. a clearer indicator of a top doesnt exist.....as the LAST of potential buyers were pumping it

similar to taxi drivers/shoeshine boys giving stock tips in the tech 2000 bubble

The flip side is true too. When everyone starts poo pooping btc we are likely near the bottom. I don’t think we are quite there yet.

I don’t know why people make a big deal about btc, it’s almost as if some people are insecure about gold’s position that they feel the need to mention it every time btc is the topic.

btc is just a tool to fight central banks, it’s not a gold replacement since they aren’t even on the same fundamentals.

bitcoin -- down from 69 to 21.....70 percent loss

The federal reserve note will be at a bigger loss of purchasing power in the long run than btc.

 

[BeefJerky]

And he just sold? You only lose if you sell for a loss.

That's a myth designed to keep bag holders holding to the grave.....RIP

 

[D-FENZ]

That's a myth designed to keep bag holders holding to the grave.....RIP

Or at least to justify holding it to the grave.

 

[EO 11110]

The flip side is true too.

it would be - in a free market. should be a great entry point for gold/silver too.

what is true is that at the time when this forum turned into crypto is money -- the gold buyer at that time is far FAR ahead of the crypto buyer. assessing the dead and buried is great way to look for investment ideas

 

[Lancers32]

And he just sold? You only lose if you sell for a loss.

I guess sleeping at night has no value?

 

[Casey Jones]

That's a myth designed to keep bag holders holding to the grave.....RIP

The hodler community is constantly deliberately confusing, "digital currency" with "store of value" - and, the bugaboo, a chance to profit.

All three of those, conflict. First, a currency is a means of TRADE, not something to hold onto. A store of value, is just that - it stores value. It doesn't grow value nor does value evaporate. It is stored.

A chance to profit, means, a speculative tool. Buy it, because the hordes are going to buy in behind you. Be first in - and, unspoken, be first out and off.

Think about this. If the rise of bitcoin's trading price vis-a-vis dollars, is important...then the critical thing here, is to pick a time to SELL. For dollars.

A speculative tool.

A store of value, suggests that what is held, is in fact valuable - and you'd hold it, for lean times or for your children. A source of wealth and security.

A currency, is something you'd put the results of your work into - to exchange with the butcher, the baker, the carbon-credit maker. It, like dollars, would be a placeholder in your wallet. If, in normal times, you had excess dollars...you'd put them in a bank, or investment tool, to put them to productive use, and gain dividends or interest.

Now. Does bitcoin pass ANY of these tests, fill any of these needs? It does not. But the tub-thumpers are pushing it, telling the gullible that it's ALL of these things.

 

[Lancers32]

volume matters. there were many times more threads at the top than not at the top. so much so that i posted about how this place had morphed from gold is money to crypto is money. the crypto pumping far FAR exceeded the gold/silver threads

the ultimate is the fact that this was happening on a GOLD IS MONEY forum. a clearer indicator of a top doesnt exist.....as the LAST of potential buyers were pumping it

similar to taxi drivers/shoeshine boys giving stock tips in the tech 2000 bubble

NFT's kinda gave it away.

 

[Mujahideen]

it would be - in a free market. should be a great entry point for gold/silver too.

what is true is that at the time when this forum turned into crypto is money -- the gold buyer at that time is far FAR ahead of the crypto buyer. assessing the dead and buried is great way to look for investment ideas

I think gold and btc are different animals.

No one is building infrastructure for gold. Btc went up 10x since the pandemic and then just now went back to the 200 day average. I don’t see a catalyst for gold to do that.

When the current macroeconomic situation ends, gold is only going to move slowly, probably not keeping up with inflation.

 

[Ebie]

The main "problem" with Btc is that the future issuers of gov't digital currency, will not want competition...

 

[ZZZZZ]

I think gold and btc are different animals.

No one is building infrastructure for gold. Btc went up 10x since the pandemic and then just now went back to the 200 day average. I don’t see a catalyst for gold to do that.

When the current macroeconomic situation ends, gold is only going to move slowly, probably not keeping up with inflation.

As the saying goes, "Slowly at first, then all at once."

Up $24 as I type, not too bad considering how weak it has been.
.
.

 

[nickndfl]

Gold won't go to zero. Does everybody think cryptos can't go to 0?

 

[Mujahideen]

Gold won't go to zero. Does everybody think cryptos can't go to 0?

The ones that are dog shit will, the ones that aren’t won’t.

There is a whole lot of dog shit that needs to be flushed out. This crash back to reality is actually a very good thing.

 

[stAGgering]

The main "problem" with Btc is that the future issuers of gov't digital currency, will not want competition...

Govt aside, as the oligarchs have ownership thereof.
Yes govt may be held accountable for crypto 'take over'.
But the oligarchs constructed and sold the first crypto and had the masses construct and pay for crypto infrastructure.
Now, regain control of said structure and F us all dry like the Dark Ages.
Mmmmmmm porridge.

 

[chieftain]

And he just sold? You only lose if you sell for a loss.

He panicked, like many others.

Wasn't that about the time some folks here were telling us all to buy buy buy crypto?

Pretty much shooty.

 

[spinalcracker]

Gold won't go to zero. Does everybody think cryptos can't go to 0?

does that depend on how one defines zero?

isn’t gold only worth what one can get for it?

what if no one wanted your gold? ….would that be zero gold?

wouldn’t that be the same for Bitcoin?

 

[coopersmith]

oil has been in the negative range not too long ago, and is more important to the world than crypto or gold.

 

[stAGgering]

does that depend on how one defines zero?

isn’t gold only worth what one can get for it?

what if no one wanted your gold? ….would that be zero gold?

wouldn’t that be the same for Bitcoin?

In Yugoslavia War '92, gold did go to zero.
Food on the other hand...
Toiletries and ammo worth more by a wide margin.

 

[Juristic Person]

The organizers of future world digital gov't currency will not be friends of bitcoin.

let's quantify the crypto is money top tick action to today -- using the two most popular codes on the crypto is money website (formerly gim)

bitcoin -- down from 69 to 21.....70 percent loss

ethereum -- down from 47 to 11......77 percent loss

again, we should've seen it coming by the action at the GOLD shoeshine boy forum

Or you can look at it as...

BTC up to $21,000 from $1

ETH up to $1200 from $.01

GOLD up to $1800 from $20

Not knocking gold at all. Gold is money. But Crypto also has it's place. It's just a matter of perspective.

 

[BeefJerky]

The ones that are dog shit will, the ones that aren’t won’t.

There is a whole lot of dog shit that needs to be flushed out. This crash back to reality is actually a very good thing.

If there was a rebound what's stopping more cryptos being created? The supply is endless and the ability to create can be done by a high schooler.

 

[BeefJerky]

oil has been in the negative range not too long ago, and is more important to the world than crypto or gold.

That was only something that could have been had by an industry owner. It was a result of no storage. No one was able to actually get negative oil.

 

[BeefJerky]

Or you can look at it as...

BTC up to $21,000 from $1

ETH up to $1200 from $.01

GOLD up to $1800 from $20

Not knocking gold at all. Gold is money. But Crypto also has it's place. It's just a matter of perspective.

Unfortunately over 1/2 of Bitcoin holders are underwater. I like your perspective though. The same perspective of the top line in an MLM scheme.

 

[Voodoo]

volume matters. there were many times more threads at the top than not at the top. so much so that i posted about how this place had morphed from gold is money to crypto is money. the crypto pumping far FAR exceeded the gold/silver threads

the ultimate is the fact that this was happening on a GOLD IS MONEY forum. a clearer indicator of a top doesnt exist.....as the LAST of potential buyers were pumping it

similar to taxi drivers/shoeshine boys giving stock tips in the tech 2000 bubble

There are a lot more posts now that it's down then back when it was hitting highs. That's no contrary indicator. Plus, I'm not sure this is a good comparison anyway because in many ways these two are direct competitors. Many bought Bitcoin who would have otherwise turned to gold.

 

[Mujahideen]

There are a lot more posts now that it's down then back when it was hitting highs. That's no contrary indicator. Plus, I'm not sure this is a good comparison anyway because in many ways these two are direct competitors. Many bought Bitcoin who would have otherwise turned to gold.

Would they have bought gold or gld?

 

[Mujahideen]

If there was a rebound what's stopping more cryptos being created? The supply is endless and the ability to create can be done by a high schooler.

I think that is a sign that the dollar itself is funny money.

Btc, a simple algorithm, is more real than a frn.

 

[EO 11110]

There are a lot more posts now that it's down then back when it was hitting highs. That's no contrary indicator. Plus, I'm not sure this is a good comparison anyway because in many ways these two are direct competitors. Many bought Bitcoin who would have otherwise turned to gold.

i just cant absolve myself of not recognizing the implications of the shoeshine boys at gim2. at the time i didnt arrive at the final conclusion - utter destruction of crypto prices. merely musing about how gim became cim is not enough. i missed connecting it to the top at the time. but not now, it is crystal clear

it's true what you say - there were a handful of hardcore crypto supporters. the gim shoeshine boys joined the hardcore at the top of the market. that's the indicator that should've told us where we were

 

[Lancers32]

That was only something that could have been had by an industry owner. It was a result of no storage. No one was able to actually get negative oil.

Oil went to negative 38 bucks and I can remember some shareholders of USO might actually have owed money if the situation persisted. Don't know all the details but yeah it was a storage problem.

 

[Lancers32]

I think that is a sign that the dollar itself is funny money.

Btc, a simple algorithm, is more real than a frn.

Really? I still can't pay Duke Energy in Bitcoin. No one else either.

 

[Lancers32]

The real fun starts when 20K goes. Can you imagine the stop losses around that number?

 

[Mujahideen]

Really? I still can't pay Duke Energy in Bitcoin. No one else either.

Can’t use gold either. Isn’t gold real? I don’t see your point there.

Government is irresponsible with currency, they made the conditions for crypto possible.

 

[the_shootist]

Can’t use gold either. Isn’t gold real?

I doubt that will be true going forward. I believe we'll eventually see USD $100 bills blowing around in the gutter but not too many gold eagles laying there along side. Besides, I can see and hold gold. That makes it seem more valuable to me than digits on a computer screen but, that's just me. You know how negative I can be

 

[Mujahideen]

I doubt that will be true going forward. I believe we'll eventually see USD $100 bills blowing around in the gutter but not too many gold eagles laying there along side. Besides, I can see and hold gold. That makes it seem more valuable to me than digits on a computer screen but, that's just me. You know how negative I can be

Good luck mailing or dropping off bullion to pay your electric bill. It’s not going to work like that

 

[Lancers32]

Can’t use gold either. Isn’t gold real? I don’t see your point there.

Government is irresponsible with currency, they made the conditions for crypto possible.

You gonna compare something that has been around for 14 years with Gold and Silver? Bitcoin is up a lot since inception but so were a lot of high flying stocks that went bye bye in the dot.com bubble. Not saying Bitcoin is going away but I think it is just a speculation. Once I can go to the store and go online and pay with Bitcoin then I'll take it seriously.