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Angry

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Cardono is about 60% of my holdings so I’m not complaining, but why is stellar sideways through the Elon crap? It doesn’t make sense.
Btw find a product you believe in. A bunch of people told me to follow the 50-40-10 rule when I started crypto. Naturally I did the opposite. Happy hunting!
 


Pompous Elitist

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Elon‘s years-long humorous playing of the crypto crowd has begun to spin out of control a little bit. Who knows, maybe he’s made a little money off the pump and has turned his gaze to some other bored pastime (sounds like Doge?)

One Bitcoin transaction‘s end to end energy consumption is horrendously high. AFAIK the proof of work for the other cryptos reward faster processing rigs which naturally require more power, and so on. I don’t believe this problem has been satisfactorily solved, or the slow transaction speeds.

It‘s a fun pump and dump, but c’mon this speculative stupidity has to end at some point.
 




FormerFatOL

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And the inevitable crash happens. BTC down in the $31,000s as I type. Once perception gets so bad that investors believe there's no hope, it might be time to buy.
 

stocker08

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I didn't expect a bomb this large....but expected it to happen eventually.
 



FormerFatOL

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Just guessing, but it seems like the Tesla/Bitcoin negative press and the newest Michael Burry/Tesla negative press (his newest big short) seem to be contributing to the firestorm against bubble assets. That said, BTC has bounced +10% from the lows, so there are buyers out there.
 

Pompous Elitist

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They should rightfully approach zero, particularly Bitcoin, probably the worst of all. Maybe some of the proof of stake tech will prove to be viable in the long term, eg Cardano. Who knows. Sell before it’s too late.
 

stocker08

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And if anyone checks the charts....basically all these crypto currencies (Bitcoin (SV & Cash), Dogecoin, Eth (Classic), Litecoin) track on the same movement. One goes down and they are all going down. Probably following the lead of Bitcoin.
 

fan of Ray Williams

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Just guessing, but it seems like the Tesla/Bitcoin negative press and the newest Michael Burry/Tesla negative press (his newest big short) seem to be contributing to the firestorm against bubble assets. That said, BTC has bounced +10% from the lows, so there are buyers out there.
Musk has a lot of leverage on things right now. The news out of China also put a damper on it. They do seem to be bouncing back as you state. I agree with Stocker also, figured there would be a correction, but not to this extent. Also, from my understanding, some of the crypto tading platforms were having issues today, Kucoin, Coinbase, Pro Coinbase. Makes for a wild day.
 



Pompous Elitist

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One beneficial side effect of a prolonged crash would be better access to high end (in mainstream markets gaming and console gpus) computer components, a market that that has been crushed and distorted by the mining outfits, and Chinese hoarding. These entities and forces were (reportedly) starting to potentially impinge on Apple and other’s access to manufacturing facilities for chips going forward. Maybe Tesla...
 

Pompous Elitist

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Musk has a lot of leverage on things right now. The news out of China also put a damper on it. They do seem to be bouncing back as you state. I agree with Stocker also, figured there would be a correction, but not to this extent. Also, from my understanding, some of the crypto tading platforms were having issues today, Kucoin, Coinbase, Pro Coinbase. Makes for a wild day.

Artificial trading slowdown, or just site traffic?
 

fan of Ray Williams

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Artificial trading slowdown, or just site traffic?
Maintenance.....just joking. I really don't know. Guess they will say site traffic.
So, a few minutes ago Musk with another tweet about having diamond hands, I am assuming he means with Tesla and bitcoin. Must have made enough shorting it and now going to make some money the other way. We are just pawns in the game.
 



Spoofin

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Missed a chance to buy more crypto this morning. This job thing really gets in the way of fun sometimes.
 

stocker08

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There was little reason to believe that some of these cryptos were going to continue on the trajectory from the past month. I personally think that all the attention that things like dogecoin have gotten recently....pulled in more traditional investors who took the opportunity to flip it while the PPS was inflated and to get out before the inevitable crash. But dogecoin has a significant following now...which means that a nice recovery wouldn't surprise me one bit. Hell.....gamestop is still trading at around $150.
 



Pompous Elitist

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Without more stimulus checks coming out, eviction moratoriums set to expire, the increasing recognition among more seasoned investors crypto is a classic mania without practical tech or commercial applications and some significant collateral damage in the real world, where is the money going to come from to send it to the moon? Serious question?
 

WhoFellDownTheGopherHole?

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Without more stimulus checks coming out, eviction moratoriums set to expire, the increasing recognition among more seasoned investors crypto is a classic mania without practical tech or commercial applications and some significant collateral damage in the real world, where is the money going to come from to send it to the moon? Serious question?

From the people who only just recently bought large amounts of Bitcoin within the last two months and very purposely sold off in huge dumps to intentionally crash the market so they could panic the little guys and buy in at half price: institutional whales.
 

WhoFellDownTheGopherHole?

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As long as we're not talking about shit altcoins, crypto only ever crashes/dips/dumps temporarily. Now that we've seen so many outstanding all time highs throughout the market recently, we know the very minimum of what all of the big coins are capable of as a future base-point.

Honestly was quite thrilled that this morning i could sell my Ether 'notes' off of Robinhood (because it's what got me into this in the first place) at a loss of literally just a handful of dollars, so i won't have to pay any taxes and am able to repurchase on a real exchange where i can actually own my keys and stake my balance.
 

Pompous Elitist

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From the people who only just recently bought large amounts of Bitcoin within the last two months and very purposely sold off in huge dumps to intentionally crash the market so they could panic the little guys and buy in at half price: institutional whales.

There is probably a limited market for the cryptos. Of course there will be people going long, and people profiting off of projected losses and gains. They aren’t really worth much, outside of criminal enterprises.

Look, I wouldn't even comment on other people’s gambling habits except in this case the mania is causing real world shortages in eg electronics components which is irritating. That, and crypto in its current iterations is just really stupid. The proof of stake breakthroughs are always “just a year or two away”... Feel free to link me to something to change my mind.
 

WhoFellDownTheGopherHole?

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There is probably a limited market for the cryptos. Of course there will be people going long, and people profiting off of projected losses and gains. They aren’t really worth much, outside of criminal enterprises.

Look, I wouldn't even comment on other people’s gambling habits except in this case the mania is causing real world shortages in eg electronics components which is irritating. That, and crypto in its current iterations is just really stupid. The proof of stake breakthroughs are always “just a year or two away”... Feel free to link me to something to change my mind.

LoL, let's come back to this in 2025.
 

Angry

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There is probably a limited market for the cryptos. Of course there will be people going long, and people profiting off of projected losses and gains. They aren’t really worth much, outside of criminal enterprises.

Look, I wouldn't even comment on other people’s gambling habits except in this case the mania is causing real world shortages in eg electronics components which is irritating. That, and crypto in its current iterations is just really stupid. The proof of stake breakthroughs are always “just a year or two away”... Feel free to link me to something to change my mind.
Looking at the technology through the lens that it’s only use is as a currency is a little short sided. I believe banks and governments around the world are doing everything in their power to derail the currency. And I honestly don’t care if they are somewhat successful. It would probably be good for the companies that I’ve invested in.
 

WhoFellDownTheGopherHole?

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For anyone who wants a real world use-case scenario, check out the Brave browser and BAT token. This is a function that is widely popular and MILLIONS of people are already using successfully every day.
 

LesBolstad

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For anyone who wants a real world use-case scenario, check out the Brave browser and BAT token. This is a function that is widely popular and MILLIONS of people are already using successfully every day.

It's nearly impossible to convince these CC deniers as either their investment time horizon is about 6 weeks; or they bought Bitcoin at 60k and are now all butt hurt they have lost 1/2 their investment.
 




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