Peak Oil News and Message Boards

Posted: **Thu 09 Jun 2022, 20:47:20**

Doge coin has reached a new (buying opportunity lol) it's death by a thousand dips for that dog. All of them are tanking still, following the general stock market, which was the exact opposite of the expected behavior!

All the assumptions about the crypto's are proving false, just like the assumption the .coms back in 1990's were growth stocks. It turned out they were cyclical stocks, no different than Coke or Caterpillar and deserving of no greater PE ratios. I imagine Tesla will turn out to be the same, if it survives this decade in face of all the other "Quality" EV's flooding the market.

Bitcoin came back last time due to demand with no competition. Now there are thousands of competition out there. Why should it exceed it's last highs? There is only a limited demand for the garbage coins anyway. I only know one guy invested in them and he's a serial loser when it comes to investments.

Posted: **Mon 13 Jun 2022, 17:07:38**

Dear oh deer oh Deer, the Great Crypto Crash of 2022 continues apace.

Shitcoin tanks over the weekend to settle out around $23,000. It was $65,000 back in November, what a train wreck! And dogecoin, Elon Musk's preferred digital store of value is down from it's high of 70 cents to 5 cents. The whole crypto scene and all the ancillary brokerages and futures contract structures that settled on it like so many parasites is imploding.

Whatever autonomy, or supposed autonomy these 'nothing' assets had was swallowed by the Wall street money munchers long ago. They are just like the stock market now, which as of today is Crashing too.

I saw the price of Gold yesterday (Monday in Australia) had jumped Au$100, the chart looked like a NASA launch frankly. In response I flew down to the city and grabbed another 5 ounces with some cash I had been siphoning out of a bank account. It may seem silly to many here, but I actually don't trust banks anymore. The price of Gold is certainly not correlated to the crypto/stock complex.

Posted: **Tue 14 Jun 2022, 04:14:57**

They'll call it Black Monday, Monday the 13th is it keeps collapsing
.

Posted: **Tue 14 Jun 2022, 16:31:08**

theluckycountry wrote:They'll call it Black Monday, Monday the 13th is it keeps collapsing
.

buttcoins going to zero

retards have been creating an electronic gulag for themselves.....fools the lot of them

Posted: **Tue 14 Jun 2022, 19:20:01**

Like Warren Buffet said. "Rat poison".

Posted: **Wed 15 Jun 2022, 04:12:13**

I've got limit buy orders in for BTC at $20,000 and $18,000.

BTC is an asset like property according to the IRS, The dollar is debt according to the Federal Reserve. I'd rather own assets than debt.

Peace

Posted: **Wed 15 Jun 2022, 04:29:16**

careinke wrote:I've got limit buy orders in for BTC at $20,000 and $18,000.

BTC is an asset like property according to the IRS, The dollar is debt according to the Federal Reserve. I'd rather own assets than debt.

Peace

https://www.youtube.com/watch?v=lQfSAGTAUF8

Posted: **Wed 15 Jun 2022, 13:12:28**

PeakOilFanatic wrote:
careinke wrote:I've got limit buy orders in for BTC at $20,000 and $18,000.

BTC is an asset like property according to the IRS, The dollar is debt according to the Federal Reserve. I'd rather own assets than debt.

Peace

https://www.youtube.com/watch?v=lQfSAGTAUF8

TO CAREINKE: You are a much much much braver man than I am when it comes to buying bitcoin. Be careful out there.......its crypto winter.

TO PeakOilFanatic: Ohmigosh that was funny......your link goes to a very very very funny video. So funny it hurts.......

Cheers!

Posted: **Wed 15 Jun 2022, 18:55:49**

I'm no trader, and I don't base my decisions on the opinion of the ATO (IRS) But it looks like the token is ready to blow through 20k. The thing is these digital inventions have no history outside of the last 10 years, nothing to go by except the action after it's big 2017 crash. If it was oil or gold or soy beans you could make some logical inferences as to it's future, even in a totally manipulated marketplace like we have the basics floors for commodities still hold. The tokens have no floor though and if people decide they want to move on and place their gambles elsewhere there is no lower limit for them.

As I say, I think their run is over, the market is saturated with them and even the cheap ones have proved to be unstable and are crashing. There will be another big bull market this decade, there always is, but it wont be in digital coins. Probably in military stocks.

Posted: **Wed 15 Jun 2022, 19:08:07**

The dollar is debt!??
Well perhaps if it is on the debit side of your spreadsheet.
But if it is on the positive side then you can use dollars to buy assets from land to gold, gasoline, food ,sex and drugs and rock and roll.
I think that makes it one of the best assets there is.
Crypto currencies on the other hand ? Not so much!

Posted: **Wed 15 Jun 2022, 19:12:14**

PeakOilFanatic wrote:
https://www.youtube.com/watch?v=lQfSAGTAUF8

Here's a good one of a coiner explaining that, although he screwed up on not shorting the recent plunge (hindsight) that things are going to dip further due to Fibonacci numbers and chart analysis lol. If he really believed in all that he'd sell now and buy back in later. At the end he recounts that his dad called him yesterday and was freaking out about the crash, this the youtuber claims is the best buy indicator you can get.

Kids playing with matches and piles of money.

https://www.youtube.com/watch?v=l4NLsKTDJME

Posted: **Wed 15 Jun 2022, 19:15:25**

vtsnowedin wrote:The dollar is debt!??
Well perhaps if it is on the debit side of your spreadsheet.

The majority of bitcoins are bought on debt too I believe, either off a CC or by leverage contracts. Once wall street got into the game it was a total pump and dump just like the paper silver market. So much for Peoples Money.

Posted: **Wed 15 Jun 2022, 19:27:38**

theluckycountry wrote:
vtsnowedin wrote:The dollar is debt!??
Well perhaps if it is on the debit side of your spreadsheet.

The majority of bitcoins are bought on debt too I believe, either off a CC or by leverage contracts. Once wall street got into the game it was a total pump and dump just like the paper silver market. So much for Peoples Money.

I can't imagine being stupid enough to buy a highly speculative instrument on credit.
In fact I wonder why it is even legal to do so given the disastrous history of the practice.

Posted: **Wed 15 Jun 2022, 19:35:49**

vtsnowedin wrote:
I can't imagine being stupid enough to buy a highly speculative instrument on credit.
In fact I wonder why it is even legal to do so given the disastrous history of the practice.

How to Buy Cryptocurrency with Credit Card
https://coinjournal.net/cryptocurrencie ... edit-card/

Buy Cryptocurrencies with Credit Card
https://www.bitrue.com/creditcard/

7 Best Crypto Margin Trading Exchanges
https://coinsutra.com/margin-trading-crypto-exchanges/

The Basics of Margin Trading With Cryptocurrency
https://cryptocurrencyfacts.com/basics- ... ocurrency/

Posted: **Wed 15 Jun 2022, 19:39:42**

https://banyanhill.com/3-96-billion-margin-call/

Jun 13, 2022
MicroStrategy’s Michael Saylor was one of the biggest advocates of bitcoin as it rose and rose throughout 2020 and 2021. His software company started acquiring the cryptocurrency as a Treasury reserve asset, presuming it might be a more stable store of wealth than their dollar-based assets. It wasn’t, and now Michael Saylor is just a few bad trading days away from a $3.96 billion margin call...

...So, what’s the blowback? Well, MicroStrategy could take a huge hit selling bitcoin at these prices. But they’re also enough of a “whale” that they could drive prices down by selling — further reducing the value of their remaining assets and tanking bitcoin’s price.

Posted: **Wed 15 Jun 2022, 21:18:38**

theluckycountry wrote:
vtsnowedin wrote:
I can't imagine being stupid enough to buy a highly speculative instrument on credit.
In fact I wonder why it is even legal to do so given the disastrous history of the practice.

How to Buy Cryptocurrency with Credit Card
https://coinjournal.net/cryptocurrencie ... edit-card/

Buy Cryptocurrencies with Credit Card
https://www.bitrue.com/creditcard/

7 Best Crypto Margin Trading Exchanges
https://coinsutra.com/margin-trading-crypto-exchanges/

The Basics of Margin Trading With Cryptocurrency
https://cryptocurrencyfacts.com/basics- ... ocurrency/

I am not saying you can't do it. People certainly can. I'm saying it is a very stupid thing to do.
Never bet the rent.

Posted: **Thu 16 Jun 2022, 05:19:21**

A Bitcoin funded holiday

Posted: **Thu 16 Jun 2022, 14:28:59**

vtsnowedin wrote:The dollar is debt!??
Well perhaps if it is on the debit side of your spreadsheet.
But if it is on the positive side then you can use dollars to buy assets from land to gold, gasoline, food ,sex and drugs and rock and roll.
I think that makes it one of the best assets there is.
Crypto currencies on the other hand ? Not so much!

For your educational needs.

https://www.suomenpankki.fi/en/learn-economy/learn-economy/what-is-money/

Peace

Posted: **Thu 16 Jun 2022, 15:36:17**

careinke wrote:
vtsnowedin wrote:The dollar is debt!??
Well perhaps if it is on the debit side of your spreadsheet.
But if it is on the positive side then you can use dollars to buy assets from land to gold, gasoline, food ,sex and drugs and rock and roll.
I think that makes it one of the best assets there is.
Crypto currencies on the other hand ? Not so much!

For your educational needs.

https://www.suomenpankki.fi/en/learn-economy/learn-economy/what-is-money/

Peace

Yes I am aware of all of that but a debt owed to you in the form of cash in your wallet is an asset ,or account receivable, to you. And a bank does not just create money out of thin air to lend it to a borrower. They take it from depositors accounts or borrow it from the central bank and that debt gets paid off when the loan matures so that debt/money does not disappear it just goes back to those who lent it.
And just how would a crypto currency that has no real backing be a better vehicle for any of that? Some Crypto Whale could have lent out say 100 bitcoin a few months ago when they were trading for $60,000 each and now the borrower can come back and pay him the 100 bitcoin now worth only $20,500 each. Of course it might have gone the other way and the 100 bitcoin might have gone up to $90,000 each.
" Be not a borrower nor a lender be. " : Gilligan's Island.

Posted: **Thu 16 Jun 2022, 19:30:34**

vtsnowedin wrote:And a bank does not just create money out of thin air to lend it to a borrower.

Ahhh, yes they do! Our government is in debt to nearly 1T now but the mortgage loan book is nearly 2T. That 2 trillion wasn't borrowed from anyone, it was created by the banks and spent into the market. That's how the lions share of new money is created, as digital entries by banks. US mortgage debt will surpass $14 trillion in 2022, that wasn't borrowed off the fed, then there is the huge corporate borrowings.

Once the money is created it's in the system and this is a cause for inflation (inflation of the money supply) It's why prices went up well before the mad activity by the FED. There was a period in US history, about 100 years all told, where there was actually mild 'deflation'. That was back in the 1800's when everyone used gold and silver.

This is the lie:
https://corporatefinanceinstitute.com/r ... ake-money/

This is the truth:
https://positivemoney.org/how-money-%20 ... ate-money/

I use https://yandex.com/search for most things now, all the other major engines are unbelievably censored. Just put this term "banks create money by issuing credit" into yandex and then try it in duckduckGo or bing or any typical engine. The difference is Stark.

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