Crypto Crashes

[olfu]

Like every scam it has the end.

[Heng]

5 hours ago, Neeranam said:

I was in just for a laugh, it went to $4 and I could have made $150 if I had sold.

I know someone who made $1000 by buying Lina yesterday for $100 Pure gambling. 

I bet you can make the same play a few times for a couple days at least.   Way too many people out there think it's going to recover.   (and seemingly are ignoring the 6.5 trillion Luna supply now)

 

But yeah, gambling.    

[Lemsta69]

5 hours ago, fdsa said:

how do you value gold and silver? Why does gold cost 1500 USD per ounce not 15 USD? or whichever is the price right now.

Gold and silver should be banned because of all the environmental destruction and massive energy use that arises from the extraction and refinement thereof. as should cellphones (rare earth minerals), Aircon (global warming) and computers (e-waste). did I miss anything.

 

I bet all the BTC haters have massive carbon footprints. as for our resident Wolf of Wall Street, what can I say? sounds like he mos def didn't buy $10K worth of SHIB at ICO and sell it all at ATH, despite being the greatest investor ever to walk the earth ????????????

[Hummin]

49 minutes ago, Lemsta69 said:

Gold and silver should be banned because of all the environmental destruction and massive energy use that arises from the extraction and refinement thereof. as should cellphones (rare earth minerals), Aircon (global warming) and computers (e-waste). did I miss anything.

 

I bet all the BTC haters have massive carbon footprints. as for our resident Wolf of Wall Street, what can I say? sounds like he mos def didn't buy $10K worth of SHIB at ICO and sell it all at ATH, despite being the greatest investor ever to walk the earth ????????????

Creative, very creative!

 

BTC sceptics are not haters, but if you feel better, you are welcome.

 

Just common sense, not personal

[Lemsta69]

1 hour ago, Hummin said:

Creative, very creative!

 

BTC sceptics are not haters, but if you feel better, you are welcome.

 

Just common sense, not personal

nothing personal but if you don't know which president bought the dip then you're really not worth talking to about crypto. kthxbye ????

[GrandPapillon]

crypto, the new Ponzi 2.0 and Madoff 1.0 combined ????

 

[Lemsta69]

24 minutes ago, GrandPapillon said:

crypto, the new Ponzi 2.0 and Madoff 1.0 combined ????

 

haters gonna hate.

[bendejo]

Will be interesting to see how this plays out

https://www.coindesk.com/business/2021/11/17/ftx-cryptocom-and-the-stadium-curse/

 

Another thing to consider is retail establishments that accept BTC, especially places like convenience stores.  Volatile investments are one thing, but when your cash intake from the business that is your livelihood is rapidly diminishing, in a way you cannot alter (other than to stop accepting funny money), well  . . .

 

NFTs is the next step in this crypto-possessions silliness.  When I found out that Melania T was auctioning off NFTs it made perfect sense to me, she lives in a culture of grifting. 

 

 

[bendejo]

43 minutes ago, Lemsta69 said:

haters gonna hate.

Do you really think so?   What was it that inspired this original idea?

 

 

[Lemsta69]

39 minutes ago, bendejo said:

Do you really think so?   What was it that inspired this original idea?

 

 

indeed I do. it's pure hate, no more no less. sounds like you might be a bit of a hater too. or just bitter and twisted because you didn't make a billion dollars on SHIB or DOGE ????

[HighPriority]

We’re happy about you and your Billion dollars man ????????

[Lemsta69]

3 minutes ago, HighPriority said:

We’re happy about you and your Billion dollars man ????????

oh no ser, I missed the SHIB and DOGE pumps because I wrote both of them off as joke coins, much to my chagrin. but as I've mentioned in other threads I'm not a particularly savvy investor, nor do I make myself out to be the cock of the walk like some of the haters in here. 

 

random thought...if all the crypto haters in here are so successful at investing in TradFi then they'd be multi-gazillionaires by now. so what are they doing on such a lo-so platform as TVF?

[HighPriority]

Same as you mate, just enjoying the soul vibe of the slums ????????

[BangkokHank]

16 hours ago, fdsa said:

how do you value gold and silver? Why does gold cost 1500 USD per ounce not 15 USD? or whichever is the price right now.

There's a difference between being able to know the precise value of gold and silver, and knowing if they have value at all. People have recognized the worth of gold and silver for thousands of years. They ARE money. So let me ask you a question: Between gold and silver, and Bitcoin, which one do you think has the greater probability of going to zero?

[Walker88]

11 hours ago, Lemsta69 said:

Gold and silver should be banned because of all the environmental destruction and massive energy use that arises from the extraction and refinement thereof. as should cellphones (rare earth minerals), Aircon (global warming) and computers (e-waste). did I miss anything.

 

I bet all the BTC haters have massive carbon footprints. as for our resident Wolf of Wall Street, what can I say? sounds like he mos def didn't buy $10K worth of SHIB at ICO and sell it all at ATH, despite being the greatest investor ever to walk the earth ????????????

That's kind of a poor try at Whataboutism.

 

Much of what you mention have actual uses in society. Everything is cost/benefit. btc has a massive cost in terms of energy use, but offers almost nothing to society. Even a single btc transaction---supposedly the cutting edge of modern finance---uses more energy than a typical US home uses in 28 days. As has been noted many times, btc mining uses more energy than the combined energy used by the companies Amazon, Facebook, Google, Apple and Netflix. Those companies, however, provide goods and services that much more of society values than what extremely limited use btc has. (okay, I don't like nor do Facebook, but it is part of the example.)

 

In a way it's ironic that rising energy prices, which contribute to inflation, helped knock the stuffing out of the Cryptoponzi. It does seem fair, however, as the three main drivers of fossil fuel price increases are 1) recovery from Covid, 2) the russian invasion of Ukraine, and 3) crypto mining. Energy prices are set on the margin, and when a massive marginal player enters the arena (crypto mining), it juices prices.

 

And no, I don't envy those who bought cryptos at birth and made gazillions anymore than I envy a guy who bought a winning lottery ticket. I do rather enjoy how many day trading geniuses have suddenly appeared, and enjoy even more their rationalizations for watching a position fall 60%, but say "I'm still ahead". Had I left that much money on the table of any trade I did in my career, I would have fired myself.

 

I never became a Crypto Cultist, and sadly, unlike those claiming bazillions gained in crypto, I'm just a poor run-of-the-mill multi-millionaire who retired before 40. That kind of B Team status, rather than Gazillionaire status, is good enough.

[ThailandRyan]

52 minutes ago, Walker88 said:

That's kind of a poor try at Whataboutism.

 

Much of what you mention have actual uses in society. Everything is cost/benefit. btc has a massive cost in terms of energy use, but offers almost nothing to society. Even a single btc transaction---supposedly the cutting edge of modern finance---uses more energy than a typical US home uses in 28 days. As has been noted many times, btc mining uses more energy than the combined energy used by the companies Amazon, Facebook, Google, Apple and Netflix. Those companies, however, provide goods and services that much more of society values than what extremely limited use btc has. (okay, I don't like nor do Facebook, but it is part of the example.)

 

In a way it's ironic that rising energy prices, which contribute to inflation, helped knock the stuffing out of the Cryptoponzi. It does seem fair, however, as the three main drivers of fossil fuel price increases are 1) recovery from Covid, 2) the russian invasion of Ukraine, and 3) crypto mining. Energy prices are set on the margin, and when a massive marginal player enters the arena (crypto mining), it juices prices.

 

And no, I don't envy those who bought cryptos at birth and made gazillions anymore than I envy a guy who bought a winning lottery ticket. I do rather enjoy how many day trading geniuses have suddenly appeared, and enjoy even more their rationalizations for watching a position fall 60%, but say "I'm still ahead". Had I left that much money on the table of any trade I did in my career, I would have fired myself.

 

I never became a Crypto Cultist, and sadly, unlike those claiming bazillions gained in crypto, I'm just a poor run-of-the-mill multi-millionaire who retired before 40. That kind of B Team status, rather than Gazillionaire status, is good enough.

I like your post it is a true whataboutism in itself.  Day trading has been around for a long time, buying and selling of any product shares has always been the game. You must have been or are a hedge fund manager, and guys like you or even a banker always show disregard for day traders.  Time to go buy some inverse ETF's now based upon the way the market is moving now, much like a hedge fund manager would do....enjoy yourself and try and not get caught up in the energy prices, it is how many are making money now with that asset class......

[Lemsta69]

1 hour ago, Walker88 said:

That's kind of a poor try at Whataboutism.

 

Much of what you mention have actual uses in society. Everything is cost/benefit. btc has a massive cost in terms of energy use, but offers almost nothing to society. Even a single btc transaction---supposedly the cutting edge of modern finance---uses more energy than a typical US home uses in 28 days. As has been noted many times, btc mining uses more energy than the combined energy used by the companies Amazon, Facebook, Google, Apple and Netflix. Those companies, however, provide goods and services that much more of society values than what extremely limited use btc has. (okay, I don't like nor do Facebook, but it is part of the example.)

 

In a way it's ironic that rising energy prices, which contribute to inflation, helped knock the stuffing out of the Cryptoponzi. It does seem fair, however, as the three main drivers of fossil fuel price increases are 1) recovery from Covid, 2) the russian invasion of Ukraine, and 3) crypto mining. Energy prices are set on the margin, and when a massive marginal player enters the arena (crypto mining), it juices prices.

 

And no, I don't envy those who bought cryptos at birth and made gazillions anymore than I envy a guy who bought a winning lottery ticket. I do rather enjoy how many day trading geniuses have suddenly appeared, and enjoy even more their rationalizations for watching a position fall 60%, but say "I'm still ahead". Had I left that much money on the table of any trade I did in my career, I would have fired myself.

 

I never became a Crypto Cultist, and sadly, unlike those claiming bazillions gained in crypto, I'm just a poor run-of-the-mill multi-millionaire who retired before 40. That kind of B Team status, rather than Gazillionaire status, is good enough.

tl;dr

[lkn]

20 hours ago, ThailandRyan said:

Do you know what an options contract is by the way....thought not....you could have made money selling short.

I am a value investor, so I tend to not use options. Only if I think there is a chance of a big drop e.g. when earnings are announced may I take out a put option on some of my holdings.

 

So yes, I know what option contracts are, and for me I only use them for hedging, as these are zero-sum games, which I generally avoid.

[GrandPapillon]

11 hours ago, Lemsta69 said:

haters gonna hate.

well if common sense and logic is hate, so be it in the amazing world of cryptos ????

[FritsSikkink]

On 5/12/2022 at 7:21 PM, Neeranam said:

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. 

 

You though that 50 USD investment was worth a post?

[GrandPapillon]

3 hours ago, Walker88 said:

I do rather enjoy how many day trading geniuses have suddenly appeared, and enjoy even more their rationalizations for watching a position fall 60%, but say "I'm still ahead". Had I left that much money on the table of any trade I did in my career, I would have fired myself.

amen to that ????

 

[itsari]

3 hours ago, BangkokHank said:

There's a difference between being able to know the precise value of gold and silver, and knowing if they have value at all. People have recognized the worth of gold and silver for thousands of years. They ARE money. So let me ask you a question: Between gold and silver, and Bitcoin, which one do you think has the greater probability of going to zero?

Gold and silver are  used in industry to produce products .

Crypto currencies  are used for producing nothing but hope 

[FritsSikkink]

On 5/13/2022 at 5:59 PM, Neeranam said:

I wonder if your grandkids will appreciate this thought. 

People have not been believing in BTC for years, nothing new. 

 

 

My grandkids will have 20 rai of land with 200 durian trees as of the moment, will probably be more in a couple of years. That revenue won't be diving by 99%.

[FritsSikkink]

11 hours ago, Lemsta69 said:

haters gonna hate.

Calling people who don't agree with you haters is pretty stupid

[FritsSikkink]

10 hours ago, Lemsta69 said:

indeed I do. it's pure hate, no more no less. sounds like you might be a bit of a hater too. or just bitter and twisted because you didn't make a billion dollars on SHIB or DOGE ????

Did you make a billion?

[Hummin]

8 minutes ago, FritsSikkink said:

My grandkids will have 20 rai of land with 200 durian trees as of the moment, will probably be more in a couple of years. That revenue won't be diving by 99%.

Growing things is a different calculation, and very much alike stock marked, where you can have years with no return at all, as stock marked, bad idea to gamble only on one thing. 
 

 

[FritsSikkink]

On 5/13/2022 at 3:58 PM, Neeranam said:

Do you regret it? 

 

 

You could have bought 10 BTC for $2000. 

 

The wise move could have been sold half when doubled, like that Yank dude, Jim Cramer who does the investing show. 

 

Then you would have had 5 BTC worth $150k.  

 

 

Here is someone who is having a headache: Michael Saylor (MicroStrategy) Portfolio Tracker (saylortracker.com)

[GrandPapillon]

23 minutes ago, itsari said:

Gold and silver are  used in industry to produce products .

Crypto currencies  are used for producing nothing but hope 

disagree, cryptos produce hope for those millennials not looking for hard work ????

[ThailandRyan]

3 minutes ago, GrandPapillon said:

disagree, cryptos produce hope for those millennials not looking for hard work ????

So it is just millennial and no other groups of investors....hmmm

 

Boomer here.

[GrandPapillon]

3 minutes ago, ThailandRyan said:

So it is just millennial and no other groups of investors....hmmm

 

Boomer here.

semi-retired boomers who didn't make enough with real work, yeah them too ????