Bitcoin

[dscher]

Everyone selling their bond funds is definitely bond bullish. I'm still on the lookout for a MASSIVE squeeze... This stuff is inevitable.

 

[Russ Smith]

Apparently the guy behind Ethereum is saying the government should "make whole" anybody who lost money in the Terra coin crash, like FDIC insurance. So you want to be decentralized from the government, but want the government to bail you out?

 

[elindholm]

Apparently the guy behind Ethereum is saying the government should "make whole" anybody who lost money in the Terra coin crash, like FDIC insurance. So you want to be decentralized from the government, but want the government to bail you out?

Yeah, good luck with that one, buddy. It's hilarious how all of these anti-government types immediately come back to begging for government assistance the instant the waters get a little rocky. It's so transparently hypocritical.

 

[Folster]

Apparently the guy behind Ethereum is saying the government should "make whole" anybody who lost money in the Terra coin crash, like FDIC insurance. So you want to be decentralized from the government, but want the government to bail you out?

I saw that and LOL'd. The level of cognitive dissonance is astounding in the crypto community.

 

[Dback Jon]

Apparently the guy behind Ethereum is saying the government should "make whole" anybody who lost money in the Terra coin crash, like FDIC insurance. So you want to be decentralized from the government, but want the government to bail you out?

The old "Capitalize profits, socialize losses" standard

 

[dscher]

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[BigRedRage]

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super curious what happens as decentralized currency and internet still seems like it will be the next iteration.

 

[dscher]

super curious what happens as decentralized currency and internet still seems like it will be the next iteration.

Until the dollar collapse, much like what's happening to the yen right now, then it's going to be tough sledding for any decentralized currency IMO. I still believe that these could simply be the iterations that will inevitably lead to a centralized digital currency, like the SDR, that the Bank of international settlements likely decide upon.

 

[Folster]

Until the dollar collapse, much like what's happening to the yen right now, then it's going to be tough sledding for any decentralized currency IMO. I still believe that these could simply be the iterations that will inevitably lead to a centralized digital currency, like the SDR, that the Bank of international settlements likely decide upon.

I still contend that central banks and the governments that empower them will never cede the massive power of monetary policy to anything decentralized. If it doesn't fail on its own, it will be squashed if it becomes a threat.

 

[dscher]

I still contend that central banks and the governments that empower them will never cede the massive power of monetary policy to anything decentralized. If it doesn't fail on its own, it will be squashed if it becomes a threat.

These are @jf-08 level 8 internet/information guys we're more than likely talking about here... they won't cede power until they lose interest and get bored. Lol.

 

[Folster]

Bitcoin down nearly 15% in the past 5 days while Ethereum is down nearly 25% in that time. Bitcoin is down over 60% from its high and Ether is down over 70%. It's going to get worse in my opinion.

There is going to be a lot of disillusioned young men in the coming months unfortunately and that is not good. While individuals are ultimately responsible for their actions, the Fed policy that inflated this speculative asset bubble will be overlooked.

 

[Finito]

BTC dipped into the 24s right now

 

[Folster]

BTC dipped into the 24s right now

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[Finito]

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Oh it’s fascinating. I can’t look away

 

[dscher]

The correlation with the tech sector will be something to keep any eye on. Liquidity is being zapped from the markets across the board.

 

[Folster]

The correlation with the tech sector will be something to keep any eye on. Liquidity is being zapped from the markets across the board.

Yes. The Fed will finally start selling bonds this week too.

 

[Dr. Jones]

BTC dipped into the 24s right now

23,230.90 right now. I have no money in it but I am guessing many 20 and 30 years olds are:

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[dreamcastrocks]

I had about $100 in it when it was at 50k. So I guess I'm down $50.

 

[JohnnyCakes]

23,230.90 right now. I have no money in it but I am guessing many 20 and 30 years olds are:

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Yup-- time to get a real job!

 

[Folster]

I had about $100 in it when it was at 50k. So I guess I'm down $50.

How will you ever recover from the loss?

 

[dreamcastrocks]

How will you ever recover from the loss?

right? Through my poker winnings I guess. Site I plan on pays out in BTC.

 

[dscher]

MSTR margin call looming large @ 20k...

Saylor and his pump and dump strategy worked to perfection. Dude probably pulled off the perfect Matt Damon heist on unsuspecting hodlers. I don't believe for one moment this guy didn't ring the bell LONG ago. Probably silently heavy puts now, playing both sides. Hello, Bernie Madoff...

 

[BigRedRage]

I sold all my crypto on black friday I think, to buy a house.

Phew.

Well, the vast majority of my crypto I should say

 

[Russ Smith]

I was just reading on Yahoo there's some crypto lending site called Celsius that promises like a 18% return on your investment. They just put a hold on all transactions on the site citing the crazy market. That apparently contributed to the crypto selloff today. Celsius has their own coin called CEL, it fell like 50% today.

Bitcoin is now more than 60% off the high.

A guy I went to HS with was trying to convince me to get BTC or just crypto in general months ago as a "hedge against inflation." I told him the same thing I've said here I don't invest in what I don't understand and I still don't get what value it has beyond being scarce. He kept saying decentralized, not impacted by inflation or the overall market. I don't get it the last time BTC cratered was during a market sell off.

In theory it's NOT connected to stocks but clearly it impacted by them, when consumer sentiment is bad, crypto tanks, and usually more than stocks

 

[Folster]

I was just reading on Yahoo there's some crypto lending site called Celsius that promises like a 18% return on your investment. They just put a hold on all transactions on the site citing the crazy market. That apparently contributed to the crypto selloff today. Celsius has their own coin called CEL, it fell like 50% today.

Bitcoin is now more than 60% off the high.

A guy I went to HS with was trying to convince me to get BTC or just crypto in general months ago as a "hedge against inflation." I told him the same thing I've said here I don't invest in what I don't understand and I still don't get what value it has beyond being scarce. He kept saying decentralized, not impacted by inflation or the overall market. I don't get it the last time BTC cratered was during a market sell off.

In theory it's NOT connected to stocks but clearly it impacted by them, when consumer sentiment is bad, crypto tanks, and usually more than stocks

Celsius is down over 96% from its high so it's basically a zombie coin or whatever it is. It'll likely feed on the remaining dip buyers before somebody puts it down Walking Dead style.

And crypto is highly correlated to speculative growth stocks that got smashed. Crypto is clearly impacted by interest rates and liquidity.