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Bitcoin & crypto? Pt. 2

Discussions about the economic and financial ramifications of PEAK OIL

Re: Bitcoin & crypto? Pt. 2

Unread postby evilgenius » Tue 20 Sep 2022, 05:30:20

I don't know why anyone would buy Bitcoin into the Fed's rate rising structure? You could chase the bottom, I guess? But once it bottoms and the Fed is done, it should be simple math the same the other way because of the interesting level of usual demand. I don't know if that level is mostly criminal, but it will probably become less so.
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Re: Bitcoin & crypto? Pt. 2

Unread postby theluckycountry » Sun 25 Dec 2022, 05:45:24

Well it seems pretty clear now the dust is settling who the buyers were for cryptos big run-up. Chinese millionaires laundering money into Canada etc, and the institutional investors like Bankman Fried, Saylor, et el. So the question begs, who will be the impetus for another big run-up?

It's funny looking at the headlines over on Yahoos crypto pages, just the headlines, you wouldn't read any of the drivel.

Bitcoin, Ether prices edge up; Dogecoin rebounds after heavy losses
Bitcoin, Ether inch up; Dogecoin remains biggest loser in top 10 cryptos
Bitcoin slips, Ether inches up; Dogecoin leads rebound in top 10 cryptos
Tesla stock fall sinks crypto token dogecoin

This is all in the space of two days naturally. How delusional are these people, trying to make some sort of financial commentary on casino chips as though they were actually companies engaged in business.
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Re: Bitcoin & crypto? Pt. 2

Unread postby vtsnowedin » Sun 25 Dec 2022, 13:40:36

It all remains rat position as it has no real value as the only thing you can do with it is sell it to someone more foolish then yourself.
A lot of fools and their money have been parted with this scam and it is an embarrassment the number of senior leaders of investment firms have fallen for it.
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Re: Bitcoin & crypto? Pt. 2

Unread postby theluckycountry » Sun 25 Dec 2022, 16:35:01

The analogy of course is the dotcom bubble, though the recent collapse in tech sector is more akin to that disaster. The .coms were like a religion where all common sense analysis was tossed out the window in favor of "This is the future, buy now or you'll miss out forever"

It's interesting to see the list of imploded stocks, ones down 70%+ and the general carnage in Google; Apple, Amazon, Tesla and the rest of the mouse-pusher darlings. Amazon and Google have shed 2 Trillion dollars in market cap between them. 2T, and somehow I don't think it was lost by big corporations, more likely lost from 401k plans and the like.
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Re: Bitcoin & crypto? Pt. 2

Unread postby careinke » Mon 26 Dec 2022, 03:11:33

theluckycountry wrote:Well it seems pretty clear now the dust is settling who the buyers were for cryptos big run-up. Chinese millionaires laundering money into Canada etc, and the institutional investors like Bankman Fried, Saylor, et el. So the question begs, who will be the impetus for another big run-up?

It's funny looking at the headlines over on Yahoos crypto pages, just the headlines, you wouldn't read any of the drivel.

Bitcoin, Ether prices edge up; Dogecoin rebounds after heavy losses
Bitcoin, Ether inch up; Dogecoin remains biggest loser in top 10 cryptos
Bitcoin slips, Ether inches up; Dogecoin leads rebound in top 10 cryptos
Tesla stock fall sinks crypto token dogecoin

This is all in the space of two days naturally. How delusional are these people, trying to make some sort of financial commentary on casino chips as though they were actually companies engaged in business.


You should look up "Click Bait." Everyone is doing it now.

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Re: Bitcoin & crypto? Pt. 2

Unread postby Plantagenet » Mon 26 Dec 2022, 12:30:03

careinke wrote:
theluckycountry wrote:Well it seems pretty clear now the dust is settling who the buyers were for cryptos big run-up. Chinese millionaires laundering money into Canada etc, and the institutional investors like Bankman Fried, Saylor, et el.


There were over a million customers whose money was stolen at FTX by Bankman-Fraud.

The vast majority of these seem to be average American investors.

AND, thanks to the aggressive advertising campaign carried out by FTX, many of these were people of color who were scammed by Bankman-Fried.

Thats why its so maddening that Bankman-Fraud was released on what is effectively a two million dollar bond (only his parent's home was actually put into the bond) into home arrest at his parent's house. This clown stole billions of dollars from duped investors and he's being given preferential treatment????

Giving tens of millions of dollars in campaign donations to Joe Biden and the Ds is definitely paying off now for SBF!!!

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Gots my crypto at FTX.....Ima gonna be RICH thanks to Sam Bankman-Fraud!!! Fortune favors the brave!!!

SHEESH!!!!!
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Re: Bitcoin & crypto? Pt. 2

Unread postby theluckycountry » Mon 26 Dec 2022, 18:04:35

Plantagenet wrote:
careinke wrote:
theluckycountry wrote:Well it seems pretty clear now the dust is settling who the buyers were for cryptos big run-up. Chinese millionaires laundering money into Canada etc, and the institutional investors like Bankman Fried, Saylor, et el.


There were over a million customers whose money was stolen at FTX by Bankman-Fraud.

The vast majority of these seem to be average American investors.


Well they would have lost most of it by that stage of the collapse anyway, so they lost the last 10 or 20% all in one go, perhaps they were lucky, they are out now and don't have to desperately watch their screens 10x a day wondering when the cryptos are gonna come back.

But seriously, what these bankman freuds, these maddoff's do, is inconsequential compared to the total lifelong financial rape that the federal government commits. How many people in america have worked all their lives paying taxes only to be retiring now with nothing but a puny SS pension. A pension I might add that will no doubt one day be revoked, or devalued into worthlessness by inflation. Then there are the millions with savings in the private pension systems, all at the mercy of Wall street types, of Elon Musk types who pump up their companies values only to sell out near the top leaving the small investor holding the bag.

Tesla is down 70% from it highs, who owns that garbage today? Pension funds I'll wager, They would have all rushed in over the last couple of years chasing the high returns to make themselves look good to the board and the bag holders. The whole financial industry is a stinking morass and bankman fraud is simply a single fleck in a huge tub of human excrement. I say human because we humans created it, and it grows and festers because we participate in it.

I don't though. Real estate, Cash, Gold and silver is where my wealth has gone for the last 20 years. The rest of the world can play games paper and digital games, I want what's mine and don't put it into the hands of any of these greedy snakes.
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Re: Bitcoin & crypto? Pt. 2

Unread postby Plantagenet » Mon 26 Dec 2022, 23:32:34

theluckycountry wrote:....seriously, what these bankman freuds, these maddoff's do, is inconsequential compared to the total lifelong financial rape that the federal government commits.


Its pretty consequential to the million or so people who lost all their money at FTX.

theluckycountry wrote:How many people in america have worked all their lives paying taxes only to be retiring now with nothing but a puny SS pension. A pension I might add that will no doubt one day be revoked, or devalued into worthlessness by inflation. Then there are the millions with savings in the private pension systems, all at the mercy of Wall street types, of Elon Musk types who pump up their companies values only to sell out near the top leaving the small investor holding the bag.


You are right about that....but I wouldn't blame the "wall street types" or even Elon Musk for that. When it comes to inflation you have to put the blame on the federal government and in particular on Joe Biden and the Ds for their economic policies that have caused the current inflation that is impoverishing millions of people.

theluckycountry wrote:Tesla is down 70% from it highs, who owns that garbage today? Pension funds I'll wager,


Pension funds consist of accounts for regular folks....so actually it is regular folks being affected by the current stock market collapse. AND, there are many individual investors who own TESLA.....after all, it was one of the best growth stocks of the last decade.

theluckycountry wrote:The whole financial industry is a stinking morass and bankman fraud is simply a single fleck in a huge tub of human excrement. I say human because we humans created it, and it grows and festers because we participate in it.


You certainly are down on the financial industry.

In actuality there are good people and bad people in the financial industry----just like any other industry. Sam Bankman-Fraud is one of the really bad ones.

theluckycountry wrote: Real estate, Cash, Gold and silver is where my wealth has gone for the last 20 years. The rest of the world can play games paper and digital games, I want what's mine and don't put it into the hands of any of these greedy snakes.


Good for you. I'm glad you are happy with your own investment strategy.

However, other folks have different strategies and different ideas.....thats what make it all interesting.

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Good luck to you.

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