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Thread: Cryptos are crashing!

  1. #1
    Unobtanium EE_'s Avatar
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    Cryptos are crashing!

    WTF, gold doesn't crash like this? -30-35% in a week.
    DON'T TAKE THE VACCINE!

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    Potmetal Cebu_4_2's Avatar
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    Re: Cryptos are crashing!

    Jackie did it and you know it!

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    Iridium mamboni's Avatar
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    Re: Cryptos are crashing!

    Quote Originally Posted by EE_ View Post
    WTF, gold doesn't crash like this? -30-35% in a week.
    Gold is money, nothing else.

    Silly wabbit, cryptos are for kids.
    Tricks and treachery are the practice of fools, that don't have brains enough to be honest. -Benjamin Franklin
    Sincerity makes the very least person to be of more value than the most talented hypocrite. -Charles Spurgeon

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    EE_ (19th May 2021),monty (19th May 2021)

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    Unobtanium EE_'s Avatar
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    Re: Cryptos are crashing!

    Wow everything is falling and "boomer rocks" are up!
    DON'T TAKE THE VACCINE!

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    Bitcoin Miner Ares's Avatar
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    Re: Cryptos are crashing!

    Quote Originally Posted by EE_ View Post
    Wow everything is falling and "boomer rocks" are up!
    Ok Boomer

    lol j/k
    "Paper is poverty, it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788
    "The greatest threat to the state is when the people figure out they can exist without them." - Twisted Titan
    "Some Libertarians are born, the government makes the rest."
    "Voting is nothing more than a slaves suggestion box, voting on a new master every few years does not make you free."

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    Unobtanium EE_'s Avatar
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    Re: Cryptos are crashing!

    Quote Originally Posted by Ares View Post
    Ok Boomer

    lol j/k
    Boomer rocks strong and steady, cryptos rise and fall like a plate of spaghetti*

    Boomer rocks you hold them in your hand, cryptos in the air, catch them if you can

    Boomer rocks shiny and old, cryptos let's don't be fooled, they ain't internet gold

    Boomer rocks anonymous to trade, cryptos are subject to an FBI raid

    Boomer rocks with cash, lets be frank, cryptos you'll need the internet and a bank

    That's all I got...
    DON'T TAKE THE VACCINE!

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  10. #7
    Bitcoin Miner Ares's Avatar
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    Re: Cryptos are crashing!

    Quote Originally Posted by EE_ View Post
    Boomer rocks strong and steady, cryptos rise and fall like a plate of spaghetti*

    Boomer rocks you hold them in your hand, cryptos in the air, catch them if you can

    Boomer rocks shiny and old, cryptos let's don't be fooled, they ain't internet gold

    Boomer rocks anonymous to trade, cryptos are subject to an FBI raid

    Boomer rocks with cash, lets be frank, cryptos you'll need the internet and a bank

    That's all I got...
    With the amount of manipulation (naked shorts in Gold and Silver) its a weak barometer to what it used to be. It would indicate inflation, but when you can print unlimited shorts they can keep the price supressed.

    Crypto's however are a good indicator as you know how many are in existence so naked shorts are not possible. This is a panic sell off due to Elon stop taking Bitcoin and complaining about the energy it takes to mine it.

    The coins I have invested in thankfully haven't dumped to the extent that Bitcoin did.
    "Paper is poverty, it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788
    "The greatest threat to the state is when the people figure out they can exist without them." - Twisted Titan
    "Some Libertarians are born, the government makes the rest."
    "Voting is nothing more than a slaves suggestion box, voting on a new master every few years does not make you free."

  11. #8
    Unobtanium EE_'s Avatar
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    Re: Cryptos are crashing!

    Quote Originally Posted by Ares View Post
    With the amount of manipulation (naked shorts in Gold and Silver) its a weak barometer to what it used to be. It would indicate inflation, but when you can print unlimited shorts they can keep the price supressed.

    Crypto's however are a good indicator as you know how many are in existence so naked shorts are not possible. This is a panic sell off due to Elon stop taking Bitcoin and complaining about the energy it takes to mine it.

    The coins I have invested in thankfully haven't dumped to the extent that Bitcoin did.
    I'm not opposed to making money on cryptos, but I will continue to hate the concept and push for a cashless society.

    How many are in existence? There are almost 10,000 different cryptos x how many coins? There looks to be 100's of trillions of coins?

    How many ounces of gold in the world? The estimate is only 5.9 billion ounces.
    https://www.brrcc.org/how-many-ounce...-in-the-world/
    DON'T TAKE THE VACCINE!

  12. #9
    Bitcoin Miner Ares's Avatar
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    Re: Cryptos are crashing!

    Quote Originally Posted by EE_ View Post
    I'm not opposed to making money on cryptos, but I will continue to hate the concept and push for a cashless society.

    How many are in existence? There are almost 10,000 different cryptos x how many coins? There looks to be 100's of trillions of coins?

    How many ounces of gold in the world? The estimate is only 5.9 billion ounces.
    https://www.brrcc.org/how-many-ounce...-in-the-world/
    Definitely there are a lot of different cryptos, some with completely different use cases, others jockeying for the same use case. Bitcoin itself is limited from its original intent, even with lightening network it's not possible to be used as "digital cash" as it cannot scale to hundreds of thousands to millions of transactions per second. Its just not feasible. Other cryptos can.

    I've diversified away from Bitcoin, I still own some, but not anywhere near to what I used to have just because I saw its limitation and its long term viability to be sustainable. Digital gold?? eh maybe? Its likely going to be used as a reserve vehicle of some kind in the digital space. But transaction fee's and limitations will keep it regulated speculation / holding.
    "Paper is poverty, it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788
    "The greatest threat to the state is when the people figure out they can exist without them." - Twisted Titan
    "Some Libertarians are born, the government makes the rest."
    "Voting is nothing more than a slaves suggestion box, voting on a new master every few years does not make you free."

  13. #10
    Unobtanium EE_'s Avatar
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    Re: Cryptos are crashing!

    Quote Originally Posted by Ares View Post
    Definitely there are a lot of different cryptos, some with completely different use cases, others jockeying for the same use case. Bitcoin itself is limited from its original intent, even with lightening network it's not possible to be used as "digital cash" as it cannot scale to hundreds of thousands to millions of transactions per second. Its just not feasible. Other cryptos can.

    I've diversified away from Bitcoin, I still own some, but not anywhere near to what I used to have just because I saw its limitation and its long term viability to be sustainable. Digital gold?? eh maybe? Its likely going to be used as a reserve vehicle of some kind in the digital space. But transaction fee's and limitations will keep it regulated speculation / holding.
    At this point in time, cryptos only have to uses, to profit by holding them and to move money illegally around the world.
    Virtually no one is buying anything with them, so few do, they don't count. Maybe in the future when society is cashless, their other uses will be utilized.
    DON'T TAKE THE VACCINE!

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