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Crypto is Crashing HARD - opportunity.....

Cigarlover

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Despite the recent bear cycle, Bitcoin is still valued at close to $30K a piece. A little over a couple years ago it was sub $4K. How has it failed as an inflation hedge?
Just as inflation is spiking right now and for the foreseeable future BTC has taken about a 60% haircut. It's basically tracking the nasdaq.

As a speculative asset it has done tremendous. Thats undeniable and probably a symptom of the rot in our current system and the desire of many to be out of it..
 

Cigarlover

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Give it a few more months. When Saylor gets liquidated it's game over.
OMG I don't wish that on anyone but this guy was balls deep plus. Instead of taking profits he went even deeper and leverages everything to the hilt. So much so that his company stock price mimics BTC nowadays. Been looking at it as a short opportunity myself. Less expensive than shorting BTC.

Just wanted to add.... For the record if I had bought in at 4k I would have taken most off the table around 40k. If it drops to 12k then I will see where the fed is at. If they reverse course then I might dip my toe in the BTC waters.
However there is a part of me that thinks the crash of everything is exactly what they want to bring in the newer improved system of control over all of us. Track every single transaction.
 

newmisty

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I don’t see the mystery considering it’s open source.

Idk who invented the wheel but I drive trucks.
That was funny.

However, a truck is a series of physical mechanical and electrical parts that millions of people can fix, repair or modify. The truck is an indispensable and extraordinarily important aspect of modern society and is essentially, as seen in Canada, the backbone of humanity.

"Crypto" is absolutely not indispensable to mankind and unlike Gold & silver, has no genuine intrinsic value IMO.
 
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Mujahideen

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Despite the recent bear cycle, Bitcoin is still valued at close to $30K a piece. A little over a couple years ago it was sub $4K. How has it failed as an inflation hedge?

And when compared to government fiat, depending on the country, Bitcoin is way up even after this downturn.
 

Cigarlover

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Under Trump everything had a blow off top. I agree with the guy in my global predictions thread. I think everything crashes until the fed changes course. So the way I see it is cash is king right now. Yes you lose to inflation but it's better than losing to inflation and taking a haircut on your investments.
 

Voodoo

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First: Crypto is here to STAY. Period. This is a new technology and I don't ever see it going away unless the internet dies

Second: Many crypto coins are going to Zero. Too many crap things get created in a huge bull market and the market needs to sort itself out.
 
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#48Fan

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Just as inflation is spiking right now and for the foreseeable future BTC has taken about a 60% haircut. It's basically tracking the nasdaq.

As a speculative asset it has done tremendous. Thats undeniable and probably a symptom of the rot in our current system and the desire of many to be out of it..
Possibly, or Bitcoin is an early mover notorious for wildly overshooting to both the upside and the downside.

ETA: It's very easy for us in the good ole US and A to poo poo Bitcoin. Try asking a random in Venezuela or Argentina whether or not Bitcoin hedges inflation...
 

Ebie

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Everything will be hackable using a sledge hammer of hyper computing speed.
Yes, basically.
But, BTC cannot be actually "hacked."
OK, a vicious continual barrage by a "well funded" agency can make the exchanges, nodes, and on ramps/off ramps unusable. Also even hot wallets might be hacked.
It may amount to the same thing...
Also, But will they do it?
"They" have BTC also.
Good post.
 

Lancers32

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The blood in the street might be from your hands.
 

the_shootist

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BTC is falling like a rock in a pond today! Pretty soon we're going to need a crypt for the Crypo!!

large deer eating popcorn (copy).gif
 

Lancers32

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20K is a good round number we might not get there on the first shot. Close to tempting levels for a trade.
 

Mujahideen

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This is a look at the health of the miners; they all mine BTC, but some are operating better than others. Irresponsible companies need to be punished.

This crash is needed sort of like the biblical flood, only the good will survive.

The only people who should be worried are those invested in shit coins; hopefully they don’t recover. When these crashes happen, Bitcoin dominance over crypto always goes up.

Nothing has changed fundamentally about BTC. It’s algorithm is still the same and government fiat is still dog shit. After tptb shorts it, then what? All they did was make it more attractive.

If they want to kill BTC, they would have to manage fiat better; they aren’t going to stop mortgaging our children's future to bail out their cronies. That’s not happening.
 
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the_shootist

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20K is a good round number we might not get there on the first shot. Close to tempting levels for a trade.
I couldn't hold it before when it was over 40K so I'm not sure why I would own it now that it's half that

I'm just silly I guess
 

EO 11110

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Despite the recent bear cycle, Bitcoin is still valued at close to $30K a piece. A little over a couple years ago it was sub $4K. How has it failed as an inflation hedge?
yesterday 30k. today 23.x

the slow burn to reality continues. (they) drove it up to entice development, using profit motive to capture the developers

now the true purpose of the spy 'coins' are slowly coming into focus for the normies. but, like the vaxxed, they cling to the lies rather than admitting their mistakes
 

the_shootist

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I didn't realize BTC also had a PPT!

1655122945774.png
 

Mujahideen

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the_shootist

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1655123745108.png
 

EO 11110

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And when compared to government fiat, depending on the country, Bitcoin is way up even after this downturn.
except that the average bitcoin holder has a cost basis over 30k (cnbc). bitcoin may be way up, but the average bitcoin investor is way down
 

Cigarlover

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I was going to short mstr this morning. They have been tracking BTC.. Just looked and it's down 50 points in pre market already. :( If BTC gets a bounce today so will master and I'll look for a short entry later.
 

Voodoo

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EO 11110

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I never quite understood how they were creating interest on crypto "deposits".
as long as it was going up they were able to sell/borrow against their 'coins' to pay the depositors?

in my mind those were pump/dump schemes -- high interest pmts promised to get people to buy the 'coin' to drive up the price
 

the_shootist

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HEY, what's that little green box in the lower right corner? I think I've heard of that here somewhere...
an old, outdated relic which is also being hammered down as we speak
 

Lancers32

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I couldn't hold it before when it was over 40K so I'm not sure why I would own it now that it's half that

I'm just silly I guess
Well there's eating sardines and there's trading sardines. Which category would you place a so called asset in that routinely loses 80% of its "value".
 

Mujahideen

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except that the average bitcoin holder has a cost basis over 30k (cnbc). bitcoin may be way up, but the average bitcoin investor is way down

BTC is volatile to the upside in the long run. You will literally only get to the downside with government currency in the long run.

Things will fluctuate but the fundamentals don’t change.
 
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Goldbrix

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the_shootist

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Experts said BTC was going to $100k.
including all the experts here who've been preaching to everyone to buy buy buy for the last year or so!
 

Mujahideen

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Let it burn!!!

Why the hell does Celsius have a coin??

Are binance and Celsius shorting BTC?? Why would there be a problem for withdrawing?
 

Cigarlover

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Experts said BTC was going to $100k.
It will, after it goes to 12k. Once the fed opens up the printing presses again it will reinflate the everything bubble one last time before we go digital. Unless of course there is a hard enough pushback on digital but I don't see that happening after the left just stole an election and 0 people rose up to stop it. This is the lefts last ditch efforts. They are going for everything in this 4 year term, guns, and total control of the population.
 

ZZZZZ

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I had about $200 worth of ETH at Celsius, half of that was a $100 promo bonus when I opened the account several years ago I don't remember exactly why I did it, but about 4 months ago I transferred all of it out of Celsius to BlockFi. Good timing. Now I just have to worry if BlockFi will be a survivor. :D
 
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Mujahideen

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Hahahaha