8 minutes ago, ThailandRyan said:

 

  On the other hand Crypto is to big to fail,

 

No. Crypto is not too big to fail. Crypto offers no value to society, but has a massive cost in terms of wasted energy. Better for fossil fuel prices and the environment if it evaporates back into the thin air from which it was conjured.

 

Those who will lose tend to be recently made paper rich. Very few major entities like banks or corporations---which DO add value to society in terms of products, services and jobs---are heavily exposed to crypto. A few might get hurt, but they will serve as a lesson to like-minded foolish CEOs.

 

I would say the odds of any sort of bailout for crypto losers is slightly less than the odds I will be playing slot receiver on the Tampa Bay Bucs come September. I'd like to, but I admit to having lost a step or two since university.

2 hours ago, spidermike007 said:

The banks are very grateful to be paying you 0.01% on your money. It is the steal of the century for those corrupt freaks.

why should they maintain your account for free when it costs a lot of money to manage accounts and money these days in this low interest environment

 

in some countries, like Switzerland, you are paying 1% to 2% for cash deposits, as the cost of ops for money is actually costly

 

In Europe, banks are paying the ECB negative interest rates for their cash balance, and will ask big bank holders to deposit their millions elsewhere because it's starting to be expensive. No joke.

4 hours ago, Neeranam said:

Great time to buy when there is so much fear. 

 

I am buying. Actually bought Luna yesterday at 90c. 

Is that short for Lunacy?????

 

 

 

 

I wonder how many other exchanges are about to do "maintenance?" 

Quote

Binance.US Will Perform Scheduled Maintenance for 17 Networks & Temporarily Suspend Deposits & Withdrawals.   https://support.binance.us/hc/en-us/articles/6031795066775

 

7 minutes ago, Walker88 said:

No. Crypto is not too big to fail. Crypto offers no value to society, but has a massive cost in terms of wasted energy. Better for fossil fuel prices and the environment if it evaporates back into the thin air from which it was conjured.

 

Those who will lose tend to be recently made paper rich. Very few major entities like banks or corporations---which DO add value to society in terms of products, services and jobs---are heavily exposed to crypto. A few might get hurt, but they will serve as a lesson to like-minded foolish CEOs.

 

I would say the odds of any sort of bailout for crypto losers is slightly less than the odds I will be playing slot receiver on the Tampa Bay Bucs come September. I'd like to, but I admit to having lost a step or two since university.

You and the others can keep on believing that which we know after many years of listening to the drivel is not near the truth.  However, if it does then so will certain other commodities....

If the very large holders of ethereal entities like btc and eth still have a lot of their portfolio, expect them to come in and do a major ramp back up into the 30Ks. They need the bid side to fill in with dreamers so they can hammer it and liquidate more of their stuff. They have been doing this quite successfully for the last few years.

 

Fool me once, shame on you; fool me twice, shame on me. Fool me three times or more, call me 'retail'.

3 minutes ago, John Drake said:

 

 

 

 

I wonder how many other exchanges are about to do "maintenance?" 

 

 

Dominoes come to mind... ????

This is intensely satisfying.

Let's see what TAT is coming up with in the next couple of days.

 

They were dreaming about all those trillionaires coming to Thailand and settle down.

1 minute ago, RafPinto said:

Let's see what TAT is coming up with in the next couple of days.

 

They were dreaming about all those trillionaires coming to Thailand and settle down.

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13 minutes ago, John Drake said:

I wonder how many other exchanges are about to do "maintenance?" 

 

amazing,

 

you would think that after that Netflix documentary, the term "exit scammed" would be mainstream and be strong enough for anyone with cryptos to start "protecting" their "precious"

 

but no, know-it-all Millennials know better ????

Just now, John Drake said:

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more like

Error 500 Internal Server Error 

 

3 hours ago, Mac Mickmanus said:

If and when you leave Thailand , you can still post from other Countries .

You dont have to be in Thailand to access these forums 

No. You can even post from  Croydon

Better to wait for next big thing after the storm have past.

 

Or better not

remember to buy the deep, at $1 ????

 

Do Kwon spelled backwards is Now Ko'd

5 hours ago, Neeranam said:

Great time to buy when there is so much fear. 

 

I am buying. Actually bought Luna yesterday at 90c. 

So despite your promotion of crypto  here you were never fully invested in crypto - you can't have been or you wouldn't have the money to buy Luna at 90c.

 

Funny how these guys who are fully invested always have spar cash to buy on a sell off.......

Crypto certainly doesn't seem to be performing well in a rising interest rate environment. Take a look at what the long end of the Treasury market is doing: ten year down 345 basis points just in the past few days. Seems to be signalling a belief that inflation is going to force the Fed to keep tightening even if the economy goes into recession. Does not bode well for stocks, real estate, other more speculative assets.

1 hour ago, Walker88 said:

I think you are a bit confused about the nature of banks.

 

The rates banks pay is a function of general market rates. Banks tend to depend on an upward sloping yield curve, as most of their funding is short term, so they borrow cheaply (relative) and loan long.

 

If market rates---say 10Y USTs---are 8%, as they were for much of the time until the first dot-com crash, then banks might pay 5-6% on your savings. Banks tend to need a spread of 200+ pips to cover all of their costs, both fixed and variable. In case you didn't notice, 10Y rates have been averaging about 1.6% for the last few years (mostly since the 2008 Financial Crisis). The 10Y is generally used to price mortgages, which is why mortgage rates have been so low for so long. Now factor in a bank's need for a spread, and the fact most of their funding is short term, and you can easily see why their rates are so low on call items like savings for depositors. It isn't corporate greed, it's 'how do we remain an ongoing concern?'.

 

Now that the 10Y has moved up, and the Fed has raised short term rates, banks will soon offer you a better return. Best you don't wish for a return to the historical average, however, because the worldwide debt bubble will burst if rates returned to the mean. Just consider the US and its debt of $28T. Each 1% upward shift in the Yield Curve adds about $280 billion to the YEARLY deficit (depending on the tenor of the outstanding US debt and maturity schedule). A return to the historical average of 8% on the 10Y, which generally would have 30 day TBill rates around 6%, and the US would suffer an additional trillion plus in yearly deficits just from debt service.

 

Now credit cards charging 29% are a different story, but that is a combination of greed and deadbeat borrowers who max out their cards.

My eyes quickly glazed over. I am a simple man and no longer have patience to wade through this. All I know is I used to get a fair interest rate of 6% and now the best I can get is 2.50% on a 5-year cd. The banks ganged up against us in the name of corporate greed. It's just that simple.

what now, another WILD CRASH to 25 000 USD from 5 000 USD two years ago? ok np

2 hours ago, mokwit said:

So despite your promotion of crypto  here you were never fully invested in crypto - you can't have been or you wouldn't have the money to buy Luna at 90c.

 

Funny how these guys who are fully invested always have spar cash to buy on a sell off.......

I have been fully invested in crypto for over 5 years. 

I have a job, and was paid on Monday. I only bought $50 of LUNA. 

i have taken profits along the way and moved a lot into stable coins. 

I shorted some cryptos last week. There are many ways to earn money in crypto, in a bull or bear market. 

What promotion of crypto? 

You sound rather negative. 

 

6 hours ago, Pmbkk said:

 

People losing their life savings: 

 

https://www.independent.co.uk/tech/terra-luna-ust-crypto-price-crash-b2076655.html

 

Why quote me?

 

 

3 hours ago, tubby johnson said:

This is intensely satisfying.

I don't find it satisfying. That's the wrong word. Puzzling is more like it.

 

I don't understand the collective suspension of logic and reality, believing something conjured by an anonymous person from thin air should, for reasons unknown, keep rising. Yes, each is created to be finite, but there is zero barrier to entry in the field, so in essence crypto is infinite. It is back only by the number of Greater Fools who exist and have spare cash. Fiat, for all its faults, has the advantage of being backed by the taxing authority of the sovereign govt that prints it. That means a fiat is backed by the collective brilliance and ambition of the people who make up a society, start and manage its businesses, etc. In the US, it is also backed by extremely liquid capital markets, rule of law, and a pretty powerful military.

 

Cryptos are absurdly energy wasteful, and 'mining' has played as much a part in the rise of oil as the russian aggression. Ecologically and environmentally friendly cryptos are not. One cannot, absent pure hypocrisy, be a fan of something like btc, but worried about climate change.

 

Finally, how does someone watch their position tumble from almost $69K to $26K? Where one bought is meaningless, except to the taxman, or for the buyer's ego. Move the stops!  Clearly, those who sat hoping, as it tumbled, are neither traders nor investors; they're dreamers who married a position and let their egos control their financial decisions. That generally leads to failure, even if one has a profit for a while. It's a habit that eventually takes a bite, perhaps in a future trade not entered so lowly.

 

There may be room for a crypto or two, but probably not anymore than that. Its uses are limited, and the current universe of players are there because they saw something rising. Once disabused of the 'rocketship to the moon' fantasy, they will go back to beanie babies or whatever the next fad is. What coins survive will likely be late entries, as they will have learned of the inadequacies of early movers, then conjured a better mousetrap. It's kind of like MySpace. It beat Facebook to market, but Facebook built something better. Also, Lycos came to market long before Google, but it got dwarfed and was gone. Don't know who the eventual winner will be, but I suspect it is neither btc nor eth.

4 hours ago, John Drake said:

I remember all the "enjoy being poor" pumpers. Wonder where they are today? Jumping off buildings? Sitting in their garages with the garage door down and the car engine on? 

Why so negative? 

 

We love the nature of this market, well the ones who understand market cycles, of which you obviously aren't. 

 

BTC, for example is 500% of what it was exactly 2 years ago. 

 

 

It goes up and down. Only in crypto world a bit faster then the regular markets. 

4 hours ago, 4MyEgo said:

Was it you that bought $200k's worth a few months back, I can't remember who it was, but at the 27k mark, I might be interested, remember, what goes up, must come down, and then up again.

No. 

 

I bought BTC at $2000 in 2017, sold at $15k in 2018, bought again at $3k and sold most at $45k. I am DCA in now. 

7 hours ago, ThailandRyan said:

Still dropping

Then buy more. bring your average down

2 minutes ago, peter zwart said:

Then buy more. bring your average down

I don't own Luna. Don't care to.

8 hours ago, ozimoron said:

LUNA suspended by Prime XBT. I think it will just go to zero. There was some concern that the company had bought 10 billion in BTC and might sell it to prop up LUNA but it looks like they might just walk away with the bitcoin. Pure speculation on my part.

And complete rubbish. They are not crazy and know they will end up in jail.

4 minutes ago, peter zwart said:

It goes up and down. Only in crypto world a bit faster then the regular markets. 

This consolidation was badly needed in the oversold market. 

 

Those who understand markets understand why. 

 

The haters are just out as they are miserable, bitter human beings that missed the boat.