Now that FTX has been chalked up as the latest ponzi-ish corner of the crypto universe, it is very likely more implosions are brewing behind the scenes.
I honestly don't know where crypto goes from here. I hear a lot now about needing to create an alternative system to get away from the Western techno-fascist fiat system, but the problem of crypto is it requires the internet. So how do we truly trust an "alternative system" that requires a presence on a shared ecosystem with the thing we're trying to separate from?
It's gonna look interesting when the Winter Crypto Market will arrive. I've a feeling that we haven't seen anything yet. For sure if Ethereum goes below $700 and Cardano below 0.15 C. I will buy more. I'm also very long on The Graph.
Something significant has happened with Bitcoin's price that has never happened before, which is that it's price is now lower than it was at it's prior peak 5 years ago. That puts the handful of Hodlers who had horrible timing and that are still hanging on with their diamond hands in the red. It wouldn't have to go a lot lower before a lot more Hodlers are sitting on losses. Something which they were all convinced could never happen. Just food for thought.
govs use crypto to launder money, simple dimple. any democratizing efforts, whether in money or otherwise will be exploited by govs / politicians / bigs. I don't understand why ppl think it is an "investment" or "store of value", it is programmable and it depends upon the internet, which can be altered, filtered, or simply shut down. most ppl have emergency cash on hand, hard to spend emergency crypto tho.
Bitcoin is not "crypto" -- Bitcoin is the most pristine asset human civilization has ever conceived of. It is the purest form of money that exists and it will be the reserve money of the world, replacing gold, for thousands of years to come. Everything else is just an unregistered security. All roads lead to Bitcoin.
Mr SBF is a huge donor to the Democratic Party. If it is determined that he misappropriated funds, will those funds be returned?
His mother, a Stanford law professor, has a left wing pac called Mind The Gap. This fund raised millions. Will she be asked if her son donated funds, and, if so, will the funds be returned?
I admittedly don't know a lot about bitcoin so I'm sure someone will tell me I'm an idiot for asking this but what if energy moons? I saw a headline the other day that said some miners were losing money/shutting down because the cost of the energy to mine the coins are more than what the coins are worth. Is there still a network if energy costs triple and bitcoin goes sub 5k?
Back in 2015, I was having a conversation with a friend of mine. Basically, we were saying: "imagine what it looks like when these price swings are the same in percentage, but the valuations are in the thousands or tens of thousands. Add in institutions leveraging their positions and it'll be unbelievable.". Btc will rebound and drag the rest of crypto with it eventually after enough blood has spilled. The basic project just works, regardless of markets and Saylor's / SBF's. In that future some will focus honestly on unleveraged empires; many will not and claim that time is it different. Imagine what it will look like when the price swings are the same in percentage, but in the tens / hundreds of thousands. Imagine what the rest of the crypto market will like then.
This reads like the eulogy for a passing era https://www.sequoiacap.com/article/sam-bankman-fried-spotlight
I honestly don't know where crypto goes from here. I hear a lot now about needing to create an alternative system to get away from the Western techno-fascist fiat system, but the problem of crypto is it requires the internet. So how do we truly trust an "alternative system" that requires a presence on a shared ecosystem with the thing we're trying to separate from?
It's gonna look interesting when the Winter Crypto Market will arrive. I've a feeling that we haven't seen anything yet. For sure if Ethereum goes below $700 and Cardano below 0.15 C. I will buy more. I'm also very long on The Graph.
Something significant has happened with Bitcoin's price that has never happened before, which is that it's price is now lower than it was at it's prior peak 5 years ago. That puts the handful of Hodlers who had horrible timing and that are still hanging on with their diamond hands in the red. It wouldn't have to go a lot lower before a lot more Hodlers are sitting on losses. Something which they were all convinced could never happen. Just food for thought.
Tether has never been properly audited.
govs use crypto to launder money, simple dimple. any democratizing efforts, whether in money or otherwise will be exploited by govs / politicians / bigs. I don't understand why ppl think it is an "investment" or "store of value", it is programmable and it depends upon the internet, which can be altered, filtered, or simply shut down. most ppl have emergency cash on hand, hard to spend emergency crypto tho.
Bitcoin is not "crypto" -- Bitcoin is the most pristine asset human civilization has ever conceived of. It is the purest form of money that exists and it will be the reserve money of the world, replacing gold, for thousands of years to come. Everything else is just an unregistered security. All roads lead to Bitcoin.
You say Crypto has nothing that denotes actual value. How is this different than fine art?
Mr SBF is a huge donor to the Democratic Party. If it is determined that he misappropriated funds, will those funds be returned?
His mother, a Stanford law professor, has a left wing pac called Mind The Gap. This fund raised millions. Will she be asked if her son donated funds, and, if so, will the funds be returned?
They are still buying the dip. Bitcoin up 13.28% today.
Crypto was all about motivating super smart tech people to accelerate digital currency development.
The only problem is when you can create money out of thin air, that sh@t will definitely attract flies...
Any idea what the MSTR liquidation price is? feel like people stopped talking about that one.
I admittedly don't know a lot about bitcoin so I'm sure someone will tell me I'm an idiot for asking this but what if energy moons? I saw a headline the other day that said some miners were losing money/shutting down because the cost of the energy to mine the coins are more than what the coins are worth. Is there still a network if energy costs triple and bitcoin goes sub 5k?
New internet? Based on a decentralized architecture. Totally anonymous and impossible to take down.
Back in 2015, I was having a conversation with a friend of mine. Basically, we were saying: "imagine what it looks like when these price swings are the same in percentage, but the valuations are in the thousands or tens of thousands. Add in institutions leveraging their positions and it'll be unbelievable.". Btc will rebound and drag the rest of crypto with it eventually after enough blood has spilled. The basic project just works, regardless of markets and Saylor's / SBF's. In that future some will focus honestly on unleveraged empires; many will not and claim that time is it different. Imagine what it will look like when the price swings are the same in percentage, but in the tens / hundreds of thousands. Imagine what the rest of the crypto market will like then.