Bitcoin and other crypto-The CR thread

[Immaculate Vibes 114]

1 minute ago, Captainant said:

[laughs in terra]

Crypto trash

[Goredho 17397]

16 minutes ago, Immaculate Vibes said:

Also wrong. Traditional markets are the ones where people beg for bailouts. 

Not wrong.  Freedom from government involvement is desired exactly until the negative side of that coin is revealed.  See QuadrigaCX where people in Canada bought into crypto to avoid things like taxes, but as soon as it became apparent they were the victims of fraud, they begged the Canadian equivalent of the FBI to intervene.

Edit to add:  Those are the freeloaders I would not want my tax dollars supporting.

Edited June 13, 2022 by Goredho

[Brisketexan 105077]

Quote

Bitcoin and other cryptocurrencies plunged Monday, and two of the world's biggest cryptocurrency platforms restricted activity as the market meltdown continued apace.

The Celsius Network, which has 1.7 million customers, said that "extreme market conditions" had forced it to temporarily halt all withdrawals, crypto swaps and transfers between accounts.

"We are taking this necessary action for the benefit of our entire community in order to stabilize liquidity and operations while we take steps to preserve and protect assets," the company said in a blog post.

The Aristocrats!

[Bullneck 19073]

BUSINESS

Bitcoin Plunges As Major Crypto Lender Halts Operations

Bitcoin and other cryptocurrencies were collapsing in price Monday, after the major crypto lender Celsius halted all withdrawals citing “extreme market conditions.".

KEN SWEET

Jun 13, 2022, 12:08 PM EDT

 

NEW YORK (AP) — Bitcoin and other cryptocurrencies were collapsing in price Monday, after a major crypto lender halted all withdrawals citing “extreme market conditions.”

It is the second collapse of a part of the cryptocurrency world in the last two months. The stablecoin Terra imploded in early May, erasing tens of billions of dollars in a matter of hours.

Bitcoin was trading at roughly $22,600 as of midday Monday, down more than 17% in the past day. Ethereum, another widely-followed cryptocurrency, was down more than 20%.

[Immaculate Vibes 114]

4 hours ago, Goredho said:

Not wrong.  Freedom from government involvement is desired exactly until the negative side of that coin is revealed.  See QuadrigaCX where people in Canada bought into crypto to avoid things like taxes, but as soon as it became apparent they were the victims of fraud, they begged the Canadian equivalent of the FBI to intervene.

Edit to add:  Those are the freeloaders I would not want my tax dollars supporting.

That was Canada, but ok.  
 

1 hour ago, Bullneck said:

BUSINESS

Bitcoin Plunges As Major Crypto Lender Halts Operations

Bitcoin and other cryptocurrencies were collapsing in price Monday, after the major crypto lender Celsius halted all withdrawals citing “extreme market conditions.".

KEN SWEET

Jun 13, 2022, 12:08 PM EDT

 

NEW YORK (AP) — Bitcoin and other cryptocurrencies were collapsing in price Monday, after a major crypto lender halted all withdrawals citing “extreme market conditions.”

It is the second collapse of a part of the cryptocurrency world in the last two months. The stablecoin Terra imploded in early May, erasing tens of billions of dollars in a matter of hours.

Bitcoin was trading at roughly $22,600 as of midday Monday, down more than 17% in the past day. Ethereum, another widely-followed cryptocurrency, was down more than 20%.

Yep that exchange had been flagged for a while as possible default risk. These massive dumps are usually caused forced selling/liquidations like this.
 

In the end exchanges will be regulated like banks. 

[Queen Bitch 1692]

On 6/13/2022 at 10:12 AM, Immaculate Vibes said:

Also wrong. Traditional markets are the ones where people beg for bailouts. 

lol, k

[Immaculate Vibes 114]

55 minutes ago, Queen Bitch said:

lol, k

Ethereum. 
crypto trash 

[Captainant 27638]

5 minutes ago, Immaculate Vibes said:

Ethereum. 
crypto trash 

Wow, you didn't strike me as someone who was anti-web3! ETH is just another mechanism to drive demand for your bitties and keep the line going up. You should be thankful to them as a large group of bagholders for your early entry into the ponzi!

[Immaculate Vibes 114]

10 minutes ago, Captainant said:

Wow, you didn't strike me as someone who was anti-web3! ETH is just another mechanism to drive demand for your bitties and keep the line going up. You should be thankful to them as a large group of bagholders for your early entry into the ponzi!

I’m bitcoin focused. The other stuff isn’t that interesting to me. What people need now is a decentralized censorship and confiscation resistant asset. The others are too centralized and not really solving any urgent societal or financial problems. 

[Captainant 27638]

Just now, Immaculate Vibes said:

I’m bitcoin focused. The other stuff isn’t that interesting to me. What people need now is a decentralized censorship and confiscation resistant asset. The others are too centralized and not really solving any urgent societal or financial problems. 

And just to be clear here: you're seeking a decentralized, censorship and confiscation resistant asset because you fear that the government is coming to take your shit?

Because bitcoin isn't really solving any urgent societal or financial problems either lol. In fact, it's a pound-for-pound worse and more wasteful system than we currently have

[Immaculate Vibes 114]

3 minutes ago, Captainant said:

And just to be clear here: you're seeking a decentralized, censorship and confiscation resistant asset because you fear that the government is coming to take your shit?

Because bitcoin isn't really solving any urgent societal or financial problems either lol. In fact, it's a pound-for-pound worse and more wasteful system than we currently have

Correct. 
 

The best case otherwise is the current system where monetary debasement continues and financial censorship becomes more accepted and common. The worst case is we go full CCP and have a CBDC where all transactions could be tracked, censored at will. Truly a totalitarian nightmare.

Bitcoin fights both of those. 
 

Im not going anywhere. 

[Captainant 27638]

41 minutes ago, Immaculate Vibes said:

Correct. 
 

The best case otherwise is the current system where monetary debasement continues and financial censorship becomes more accepted and common. The worst case is we go full CCP and have a CBDC where all transactions could be tracked, censored at will. Truly a totalitarian nightmare.

Bitcoin fights both of those. 
 

Im not going anywhere. 

so it's like a purely anti-social ethos behind your views? Because I can honestly say I've never had the fear that my money was going to be spirited away by the gubmint or that my transactions could be censored, whatever that means lol.

I just don't understand the brain that's fueled and solely motivated by fear. I'm sorry that your world is so dark and full of terrors

[F250 28764]

Csb

I mentored a H.S. kid back in 2015-2017 that was heavily into mining. He had a lot of Bitcoin back when it was at several hundred dollars then pivoted to Etherium which was worth several dollars at the time. Kid cashed out for millions while in college. He made a killing off of Etherium. Last I heard he was a co-founder of some drone startup.

 

[Captainant 27638]

NBC is jumping onto the dogpile as well with a doom and gloom on cryptos:

https://www.nbcnews.com/tech/crypto/bitcoin-falls-fresh-18-month-low-crypto-meltdown-deepens-rcna33678

Surprising figure from the article: 

The value of the global crypto market has tumbled 70 percent to under $900 billion from a peak of $2.97 trillion in November, CoinMarketCap data shows.

 

[bolverk 29656]

1 hour ago, Captainant said:

so it's like a purely anti-social ethos behind your views? Because I can honestly say I've never had the fear that my money was going to be spirited away by the gubmint or that my transactions could be censored, whatever that means lol.

I just don't understand the brain that's fueled and solely motivated by fear. I'm sorry that your world is so dark and full of terrors

Yes, it explains every aspect of every view he has, including his vociferous opposition to vaccines that have assuredly saved thousands -- if not millions -- of lives of every age group and demographic.

[Immaculate Vibes 114]

13 hours ago, Captainant said:

so it's like a purely anti-social ethos behind your views? Because I can honestly say I've never had the fear that my money was going to be spirited away by the gubmint or that my transactions could be censored, whatever that means lol.

I just don't understand the brain that's fueled and solely motivated by fear. I'm sorry that your world is so dark and full of terrors

Nothing anti social. 
 

I’m just aware of monetary history and how large debt cycles work. There will be further currency debasement, capital controls. It’s going to be a tumultuous time. I’m just looking to protect myself and the fam. 
 

Regarding censoring of transactions, it’s happened here before. Operation Chokepoint. Then look to the Canadian trucker situation to see how western govts could pursue widespread financial cancelation. It’s not hard to see that trend continuing given the way our culture is moving. Then throw in the potential of CBDCs and then you’d have to perfect facility to perform those actions. 
 

Bitcoin actually makes me optimistic we’ll be able to avert these things over time, but it’s going to be rocky.

[Captainant 27638]

12 hours ago, Immaculate Vibes said:

I’m just aware of monetary history and how large debt cycles work. There will be further currency debasement, capital controls. It’s going to be a tumultuous time. I’m just looking to protect myself and the fam. 

So youre betting against society functioning and actively planning for it's collapse - a fundamentally anti-social stance. 

12 hours ago, Immaculate Vibes said:

Regarding censoring of transactions, it’s happened here before. Operation Chokepoint. Then look to the Canadian trucker situation to see how western govts could pursue widespread financial cancelation. It’s not hard to see that trend continuing given the way our culture is moving. Then throw in the potential of CBDCs and then you’d have to perfect facility to perform those actions. 

Bitcoin actually makes me optimistic we’ll be able to avert these things over time, but it’s going to be rocky.

It's funny that for being someone who fears duh gubmint so deeply, you suck so much cop dick. Who do you think is going to be enforcing and executing the law? It's the fucking cops.

Stop being such a goddamn victim in your own small, fearful world. What the fuck even is "financial cancellation"? Some new dumb shit you read from your handlers through zero hedge?

[Immaculate Vibes 114]

14 minutes ago, Captainant said:

So youre betting against society functioning and actively planning for it's collapse - a fundamentally anti-social stance. 

 

I’m betting on some form of collapse or reordering of our global monetary system. It happens periodically when debt reaches unsustainable levels. Merely observing historical evidence and acting on it. How much that affects the broader world is tbd. I don’t see that as anti-social, just observant and proactive. 
 

17 minutes ago, Captainant said:

 

It's funny that for being someone who fears duh gubmint so deeply, you suck so much cop dick. Who do you think is going to be enforcing and executing the law? It's the fucking cops.

 

Please show me a post where I “suck cop dick”. I’m no big fan of cops in general, as I’ve said here repeatedly. 
 

19 minutes ago, Captainant said:

 

Stop being such a goddamn victim in your own small, fearful world. What the fuck even is "financial cancellation"? Some new dumb shit you read from your handlers through zero hedge?

An example of financial cancelation would be having your bank accounts frozen because of your political beliefs. Happened in Canada. 
 

[Captainant 27638]

9 hours ago, Immaculate Vibes said:

An example of financial cancelation would be having your bank accounts frozen because of your political beliefs. Happened in Canada. 

I mean, they were criminally blocking international roads, bridges, and disrupting the entire nations supply chain. And their funds were unlocked a week after they were frozen, once the truckers stopped blocking the road. 

But if in your small, fearful, victim driven mindset, that means that it was their politics and not their actions to disrupt the trade between two nations... You've been hitting the borsht too hard, tovarich. 

[wildcat09 29347]

Planning for the collapse of society by dumping all his money into a “currency” that he needs an electronic device and the internet to access remains the funniest idea GR Horn has ever and will ever have.

[Immaculate Vibes 114]

CBDC. One of the greatest threats to American freedom out there.

Posters here are educated. You need to research and decide how you feel about this. 

[Neonmoon 38129]

Bitcoin price history 

 

Kind of resembles…

[Goredho 17397]

12 hours ago, Immaculate Vibes said:

CBDC. One of the greatest threats to American freedom out there.

Posters here are educated. You need to research and decide how you feel about this. 

I feel that life for the average US citizen between 1945 to 2001 was very good, and that no other time period provided more economic freedom for more people.   I feel that the dollar’s standing in the world was no small part of that.  I feel that position of the USD has eroded since then, and that the USD may cease to be the world standard along with that golden age of freedom from economic want and worry experienced by so many here at home.  I feel that assholes like yourself abandoning the dollar for alternative currencies is a part of that fall of the USD.  I feel that for America to survive as it was known in that golden age, assholes like yourself need to fail — bigly.  As such, I feel a strong desire for you to go fuck yourself.  Move to a seastead in Panama if the life you enjoyed in this country between WWII and 9/11 was so shitty that you would basically operate to tear it apart for the rest of us.

[Brisketexan 105077]

I feel that life for the average US citizen between 1945 to 2001 was very good, and that no other time period provided more economic freedom for more people.   I feel that the dollar’s standing in the world was no small part of that.  I feel that position of the USD has eroded since then, and that the USD may cease to be the world standard along with that golden age of freedom from economic want and worry experienced by so many here at home.  I feel that assholes like yourself abandoning the dollar for alternative currencies is a part of that fall of the USD.  I feel that for America to survive as it was known in that golden age, assholes like yourself need to fail — bigly.  As such, I feel a strong desire for you to go fuck yourself.  Move to a seastead in Panama if the life you enjoyed in this country between WWII and 9/11 was so shitty that you would basically operate to tear it apart for the rest of us.

He actively roots for it. Check out his posts of masturbatory glee in the Global Spring thread. I’ve never seen somebody so eager to have to eat his Jim Bakker survival buckets.

[Vegas64 673]

What am I missing about being scared the dollar will lose its position? The dollar is strong and the strength of the dollar in Q1 is the only saving grace for a lot of organizations who reported and have global sales and operations.

[Vegas64 673]

Brisket, you like Scott Galloway and seem to take your positions from his research and analysis. If you agree with him in this interview I read (excerpt below), what’s the big fuss? Just find a way to short crypto and make a ton of money. I feel like that is what a smart person would do with a real conviction about a position versus caterwauling on the internet.

You’ve been a longtime skeptic on crypto, and now we are seeing a real crash. What do you think is going to happen next?

What we found is this whole mantra of a trustless economy, we shouldn’t have trusted many of these new actors.

Even in ’99, there were a lot of use cases of the internet — you could buy CDs and books on Amazon. You could get real-time news on Yahoo. It’s more difficult to find use cases from the blockchain that impact everyday consumers. I think you’re just seeing a massive unwinding or de-levering of the space — and I think we’re kind of in the midst of a crash that will be likely unprecedented in terms of an asset class.

If you look at the bubble — if you compare it to previous bubbles, whether it’s tulips, internet stocks of ’99, housing, Japanese stocks — the run-up here was more extraordinary. The run-up here makes the other ones look sheepish or modest, which means that the crash will be equally or more violent.

There’s going to be more lawsuits. There’s going to be more calls for additional regulations. You’re going to see investors say: Where were the regulators?

That’s the bad news. The good news is it probably won’t have much of an impact on the real economy. Keep in mind, even if all crypto went to zero right now, that’s still less than half the value of Apple.

[David Dennison 18851]

42 minutes ago, Goredho said:

I feel that life for the average US citizen between 1945 to 2001 was very good, and that no other time period provided more economic freedom for more people.   I feel that the dollar’s standing in the world was no small part of that.  I feel that position of the USD has eroded since then, and that the USD may cease to be the world standard along with that golden age of freedom from economic want and worry experienced by so many here at home.  I feel that assholes like yourself abandoning the dollar for alternative currencies is a part of that fall of the USD.  I feel that for America to survive as it was known in that golden age, assholes like yourself need to fail — bigly.  As such, I feel a strong desire for you to go fuck yourself.  Move to a seastead in Panama if the life you enjoyed in this country between WWII and 9/11 was so shitty that you would basically operate to tear it apart for the rest of us.

[Neonmoon 38129]

US digital currency will be no different than paper currency. It would still be centralized and backed by the full faith of the US government, making it stable and consistent. Only fucking weird sovereign citizen anti-social wack jobs worry about and/or root for the fiat system collapsing. 

[David Dennison 18851]

1 minute ago, Neonmoon said:

US digital currency will be no different than paper currency. It would still be centralized and backed by the full faith of the US government, making it stable and consistent. Only fucking weird sovereign citizen anti-social wack jobs worry about and/or root for the fiat system collapsing. 

Not only that, how much of that paper currency is ever paper these days?

[Goredho 17397]

11 minutes ago, David Dennison said:

Yeah, it wasn’t perfect or evenly distributed, especially for minorities, but it was moving in the right direction.

[Vegas64 673]

9 minutes ago, Goredho said:

Yeah, it wasn’t perfect or evenly distributed, especially for minorities, but it was moving in the right direction.

Are you mistaking prosperity for progress? Only you can answer that, but from the same interview quoted above by Brisket’s boy in NYT. It’s an interesting discussion:

“We mistake prosperity for progress. And we have created tremendous, staggering, unprecedented prosperity. I think the mistake or the myth that we buy into — that whenever there’s prosperity economically, the G.D.P. grows, that it’s going to translate to progress for a nation.

What do we mean by progress? I think the ballast — and it’s my first chapter in the book — is a healthy and thriving middle class. The geopolitical power of a nation, its well-being, its democratic strength, is usually a function of how prosperous its middle class is.

Now the issue in America — and Europe makes it to a lesser extent — is that America has either believed this myth that the middle class is a natural-occurring object of a free-market economy, and it is not. The middle class is an accident. It is an aberration of economics.

There’s a constant notion that if the economy does well, the middle class will restore itself. That is not true. What happens over time in all economic history is that the wealthy weaponize government, lower taxes on them, resist competition — the biggest, most powerful companies entrench themselves, and you end up with an erosion of the middle class. You end up with income inequality. It gets worse and worse, and then the same thing happens with income inequality. The good news is income inequality, when it gets to these levels, always self-corrects. The bad news is that the mechanisms for self-correction are war, famine and revolution.

Unless you provide and invest in a strong middle class, whether it be the minimum wage or support of unions or vocational training or access to free education or reduced-cost education, the middle class, as an entity, goes away. We have fallen into this notion that as long as the economy does well, the middle class will do well. The two are not necessarily linked.”

[Captainant 27638]

26 minutes ago, David Dennison said:

Not only that, how much of that paper currency is ever paper these days?

Yeah no kidding. I really only use cash while I'm in Vegas, otherwise everything from my paycheck to my mortgage payment, car, insurance, etc etc etc are all digital

[RDCanecutter 26398]

I told y'all to stick to cowrie shells.

[Dahobbs 17527]

25 minutes ago, RDCanecutter said:

I told y'all to stick to cowrie shells.

Jokes on you. My beanie babies are going to rebound any day now!

[Muny_Tex 293]

Yeah, it wasn’t perfect or evenly distributed, especially for minorities, but it was moving in the right direction.

You’re actually correct (statistically) with respect to black people. Black homeownership reached its highest point in history (49%) in the very early 2000s; it presently stands at just over 40% today.

https://www.marketwatch.com/amp/story/most-black-americans-arent-homeowners-how-can-we-change-that-11615431459

Black populations have also plunged (and community staples gentrified away) in nearly every major “progressive” US city within that same 20 year time frame.

https://www.usnews.com/news/us/articles/2022-03-14/us-black-population-the-biggest-growth-is-in-smaller-cities?context=amp (

(key excerpt: Columbus is the only city included in the newest areas to which Black people are moving that is not in the South)

We also know they have enormously higher rates of student loans and unsecured debt relative to 20 years ago…and their unemployment rate has not materially improved during that time frame.

[Bullneck 19073]

On 6/15/2022 at 6:12 PM, Immaculate Vibes said:

I’m bitcoin focused. The other stuff isn’t that interesting to me. What people need now is a decentralized censorship and confiscation resistant asset. The others are too centralized and not really solving any urgent societal or financial problems. 

Have you focused on this?

Quote

The last time bitcoin was at that level was in November 2020, when it was on its way up to an all-time high of nearly $69,000, according to CoinDesk. Many in the industry had believed it would not fall under $20,000.

Bitcoin has now lost more than 70% of its value since reaching its peak.

Ethereum, another widely followed cryptocurrency that has been sliding in recent weeks, took a similar tumble Saturday.

 

The cryptocurrency industry has seen turmoil amid wider turbulence in financial markets. Investors are selling off riskier assets because central banks are raising interest rates to combat quickening inflation.

 

Edited June 18, 2022 by Bullneck

[Biff Tannen 45665]

2 hours ago, RDCanecutter said:

I told y'all to stick to cowrie shells.

[Immaculate Vibes 114]

10 hours ago, Vegas64 said:

What am I missing about being scared the dollar will lose its position? The dollar is strong and the strength of the dollar in Q1 is the only saving grace for a lot of organizations who reported and have global sales and operations.

I’ll come back later to address most of the comments, but this one is pretty straight forward. 
 

The USD is currently strong relative to other currencies because we are hiking interest rates aggressively to attempt to get a hold on inflation. 
 

Also you have to look at the global  energy situation.  There’s obvious energy scarcity currently. In that environment energy rich country’s currency will perform better.  Look at usd and the ruble. Energy importers are going to have weak currencies. Look at Japan, EU, UK, Korea. 

Edited June 19, 2022 by Immaculate Vibes

[Dahobbs 17527]

15 minutes ago, Immaculate Vibes said:

I’ll come back later to address most of the comments, but this one is pretty straight forward. 
 

The USD is currently strong relative to other currencies because we are hiking interest rates aggressively to attempt to get a hold on inflation. 
 

Also you have to look at the global  energy situation.  There’s obvious energy scarcity currently. In that environment energy rich country’s currency will perform better.  Look at usd and the ruble. Energy importers are going to have weak currencies. Look at Japan, EU, UK, Korea. 

Weird how'd you pick the ruble of all currencies.

[Immaculate Vibes 114]

30 minutes ago, Dahobbs said:

Weird how'd you pick the ruble of all currencies.

It’s the best performing currency this year, and their only meaningful export is energy so it helps make my point. 

[Bullneck 19073]

2 minutes ago, Immaculate Vibes said:

It’s the best performing currency this year, and their only meaningful export is energy so it helps make my point. 

If you stop posting I'm going to worry you've done some self harm. Or just dumped IV and started logging in as Muny Tex.

[Immaculate Vibes 114]

12 hours ago, Goredho said:

I feel that life for the average US citizen between 1945 to 2001 was very good, and that no other time period provided more economic freedom for more people.   I feel that the dollar’s standing in the world was no small part of that.  I feel that position of the USD has eroded since then, and that the USD may cease to be the world standard along with that golden age of freedom from economic want and worry experienced by so many here at home.  I feel that assholes like yourself abandoning the dollar for alternative currencies is a part of that fall of the USD.  I feel that for America to survive as it was known in that golden age, assholes like yourself need to fail — bigly.  As such, I feel a strong desire for you to go fuck yourself.  Move to a seastead in Panama if the life you enjoyed in this country between WWII and 9/11 was so shitty that you would basically operate to tear it apart for the rest of us.

I haven’t abandoned the dollar. I have plenty of dollar investments. I’m just hedging strongly against what historically happens and what is being reinforced by everything I see. 
 

12 hours ago, Brisketexan said:

He actively roots for it. Check out his posts of masturbatory glee in the Global Spring thread. I’ve never seen somebody so eager to have to eat his Jim Bakker survival buckets.

I don’t root for bad things to happen. There’s just more bad than good happening now. You of all people should know that. 
 

When I saw this meme I thought of you. 
 

11 hours ago, Neonmoon said:

US digital currency will be no different than paper currency. It would still be centralized and backed by the full faith of the US government, making it stable and consistent. Only fucking weird sovereign citizen anti-social wack jobs worry about and/or root for the fiat system collapsing. 

CBDCs are the worst thing imaginable. Financial privacy gone.

With programmable money, so many ways for central planners to manipulate people’s finances.
 

Oh you have a negative interest rate on your money. 

Oh if you don’t spend your latest Fed deposit in the next week, it will be deleted. 
 

Oh sorry, that is an unapproved transaction. 
 

The inability to see how easily it could be abused and how disastrous it would be is really fascinating to me. 
 

11 hours ago, David Dennison said:

Not only that, how much of that paper currency is ever paper these days?

 

11 hours ago, Captainant said:

Yeah no kidding. I really only use cash while I'm in Vegas, otherwise everything from my paycheck to my mortgage payment, car, insurance, etc etc etc are all digital

That’s your choice. But you should want it as an option 

[Bullneck 19073]

Stolen from the "things that make you LOL"

[Serak The Preparer 3431]

11 hours ago, Immaculate Vibes said:

I haven’t abandoned the dollar. I have plenty of dollar investments. I’m just hedging strongly against what historically happens and what is being reinforced by everything I see. 
 

So historically, how has cryptocurrency performed in a time of high inflation and/or recession that gives you such confidence. I mean, given that this has actually never happened, how can you possibly cite history?

[Immaculate Vibes 114]

2 hours ago, Serak The Preparer said:

So historically, how has cryptocurrency performed in a time of high inflation and/or recession that gives you such confidence. I mean, given that this has actually never happened, how can you possibly cite history?

We are a heavily indebted nation at the end of a debt super cycle. That’s what I’m hedging against. 
 

[Serak The Preparer 3431]

You are describing your behavior which I certainly don't have any problem with, it's your money. But you keep saying this is based on historical principles which is bullshit - there is no history of bitcoin in a bear market / end of a debt cycle. It may perform awesomely - I suspect not but definitely not going to claim I know. So I'm not saying you or others should or shouldn't buy more. Just be honest about what is speculation vs what is grounded in history.

[Immaculate Vibes 114]

11 minutes ago, Serak The Preparer said:

You are describing your behavior which I certainly don't have any problem with, it's your money. But you keep saying this is based on historical principles which is bullshit - there is no history of bitcoin in a bear market / end of a debt cycle. It may perform awesomely - I suspect not but definitely not going to claim I know. So I'm not saying you or others should or shouldn't buy more. Just be honest about what is speculation vs what is grounded in history.

I’m using bitcoin to hedge.
 

I didn’t say Bitcoin has a history in this situation. I think you’re misreading what I’ve said. Perhaps I worded it poorly. 

[Immaculate Vibes 114]

Looks like I flew too close to the CR sun again. For my last post thought I’d share this response to the Dept of Commerce from a Bitcoin lobbying. Being pro Bitcoin is pro freedom. A lot of the ideals underpinning it are in line with why this country was founded. God speed, CR. 
 

Also shout out to all my most prolific neggers. This wouldn’t be possible without you.  Penelope, Felix, Vr horn, Upper Westside, Bullneck, Trauma Babe. Keep fighting that good fight. 

Edited July 6, 2022 by Immaculate Vibes

[Hugo Stiglitz 23367]

 

[Pescado_Rojo 19416]

The Crypto collapse has flooded the market with Rolex and other high end watches