Bitcoin / Cryptocurrency Discussion (And Predictions)

[Vasili27]

20 billion punds wiped off one asset alone in a week.
I can litterally hear the legislators saying "people are too stupid to invest without our help"...

This is my major concern: crypto is going to be regulated into the oblivion

P.S: I hope none of you experienced major losses with this episode, folks.

They did this so they could regulate it.

 

Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

[EmotionEngine]

They did this so they could regulate it.

Do you think governments need a shit-show in order to regulate? They are coming no matter what.

 

[GPM]

Luna is now worth a fraction of a penny. From over $100 to less than a penny in a few days. Absolutely unreal.

Looks like my $2.45 buy was throwing an eth in the trash.

 

[EmotionEngine]

Luna is now worth a fraction of a penny. From over $100 to less than a penny in a few days. Absolutely unreal.

Looks like my $2.45 buy was throwing an eth in the trash.

I had nothing in it, but that indeed looks brutal.

 

Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

[Vasili27]

Do you think governments need a shit-show in order to regulate? They are coming no matter what.

Im sure of that, but now this gives them an even better reason to.

 

[maximusharrison]

One of my favorite YouTubers, KSI, suffered from this recent plummet with Luna lmao. Mans lost $2.8 Million. Yikes. source

 

[DWX]

Yup. Lots of people went under with the luna/usdt crash. There are already reports of multiple suicides, too. Tragic.

It's during events like this that I hear that old voice whisper:

"Don't invest more than you're willing to lose."

Suffice to say, many ignored this piece of wisdom.

 

Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

[Ing]

I’m curious why the Y axis never start at zero.

You can adjust it. but than you can barely See anything on the chart

 

[Andy Black]

You can adjust it. but than you can barely See anything on the chart
View attachment 43447

What I mean is, when these sorts of graphs show they’re often zoom in immediately and it looks like massive rises and falls. If they zoomed into or panned out from then it would help people see the bigger picture.

 

[MJ DeMarco]

I had nothing in it, but that indeed looks brutal.

View attachment 43442

Wow. Just wow. The is a shakeout that likely will turn the crypto world on its head. Might be a 2008-like "leahman brothers" moment which was the impetus for a greater financial collapse.

 

Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

[GPM]

A friend was pondering with me about this crypto crash. As it was most likely completely orchestrated, and many knew it would happen, literal billions shifted hands during the crash.

Right from those freaked out, or those who had to sell anyways to live and had regular sales, or those over leveraged. Sold right into the hands of those who knew it would happen. Many coins are up 10-50% already after this crash!!

 

[BAUCE]

grabbed some LINK at LYXE at these prices. Wouldn't be surprised if we go to 20k before trending back up.

 

[Kevin88660]

The recent crash lost more than $50k on paper (crypto and stocks etf), but the relief was that I threw $1000 at luna on Friday and it turned into $20k now.

Crazy world and crazy market now.

I read on twitter that luna dev were manually stopping the blockchain and I took it as signal that the inflationary pressure will stop at 6.9T luna tokens.

 

Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

[Kevin88660]

One of my favorite YouTubers, KSI, suffered from this recent plummet with Luna lmao. Mans lost $2.8 Million. Yikes. source

I really think it is not a good idea to have youtubers all in their wealth and that set a bad example for other young people.

Redditers were saying about confirmed suicide cases already happening.

If you are a celeb or business person that have lost all your eggs but you still have the golden goose which is your business and brand. Your followers had nothing beside their money and probably took loans into “degen investing”.

 

[Matt33]

20 billion punds wiped off one asset alone in a week.
I can litterally hear the legislators saying "people are too stupid to invest without our help"...

This is my major concern: crypto is going to be regulated into the oblivion

P.S: I hope none of you experienced major losses with this episode, folks.

"asset"

Ponzi schemes are illegal

Every generation has their own Ponzi scheme. They never come with a giant red label "PONZI SCHEME".

Also, they're always pitched as "the next big thing"

If you want decentralized currency, silver and gold are the answer, they always have been.

The teachings of what has consistently worked for 10,000 years of civilization has more value than my generation seems to understand.

 

[BusinessBen]

Who else has thought of creating their own token? I have created my own, and now comes the hard part which is marketing.

 

Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

[MitchC]

The recent crash lost more than $50k on paper (crypto and stocks etf), but the relief was that I threw $1000 at luna on Friday and it turned into $20k now.

Crazy world and crazy market now.

I read on twitter that luna dev were manually stopping the blockchain and I took it as signal that the inflationary pressure will stop at 6.9T luna tokens.

I see Lunas doubled today, good for you on the gains, but UST is still .20c, so from my understanding aren’t they supposed to be dumping more Luna to prop ust back up? Honestly I haven’t looked into how it works but that’s what I assumed

 

[Kevin88660]

I see Lunas doubled today, good for you on the gains, but UST is still .20c, so from my understanding aren’t they supposed to be dumping more Luna to prop ust back up? Honestly I haven’t looked into how it works but that’s what I assumed

They have manually stopped the blockchain from running so that the minting of extra luna has been stopped. This was when the price fall stopped falling at Thursday and Friday. You can see that the total luna in circulation stopped at 6.9T (from coingekco as well as terra website).

 

[Kevin88660]

Who else has thought of creating their own token? I have created my own, and now comes the hard part which is marketing.

Go to reddit cryptomoonshot for marketing.

And also work with youtuber. Yes you need to spend some money.

 

Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

[Ing]

Who else has thought of creating their own token? I have created my own, and now comes the hard part which is marketing.

I would like to make two token, name one a stable coin and mint one out of the other.
Much money in there.
IRONY OFF

 

[AnNvr]

"asset"

Ponzi schemes are illegal

Every generation has their own Ponzi scheme. They never come with a giant red label "PONZI SCHEME".

Also, they're always pitched as "the next big thing"

If you want decentralized currency, silver and gold are the answer, they always have been.

The teachings of what has consistently worked for 10,000 years of civilization has more value than my generation seems to understand.

..as if physical commodities weren't the most rigged market since the earliest of 1900.

The point wasn't aiming to a specific asset class, but to the abusive and surprisely legitimate power of financial institutions on the capital markets that are defined as "free".

That's the real problem.

 

[Matt33]

..as if physical commodities weren't the most rigged market since the earliest of 1900.

The point wasn't aiming to a specific asset class, but to the abusive and surprisely legitimate power of financial institutions on the capital markets that are defined as "free".

That's the real problem.

They are rigged, which is the opportunity. Silver is incredibly manipulated by the banks, because it is a threat to the dollar. It is an incredible buy at the current prices, and should go much lower as the markets crash and institutional investors sell their positions to cover margin calls.

I personally am holding 6 figures worth, with plans to add another $500k if a buying opportunity presents itself in the next year or 2. It went to $12 in March 2020.

On the other hand, I am holding zero crypto. I might buy BTC at $500, but I stay away from Crypto as it has zero intrinsic value.

 

Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

[Kalactose]

Soey are rigged, which is the opportunity. Silver is incredibly manipulated by the banks, because it is a threat to the dollar.

Silver or gold are not threats to the dollar. The dollar is a very safe investment for countries that returns stable interest rates, while silver or gold can tank anytime which isn't a positive skew if you are trying to save a country's wealth.

 

[MitchC]

I actually think governments are probably happy for crypto and silver because it's absorbed a large amount of the printed dollars in what are basically inert assets. Inflation would be a lot worse otherwise.

That is depending on what you think their intentions are.

I hold a lot of my money in crypto but the phrase "you will own nothing and be happy" just keeps ringing in my head when I read posts like yours @Matt33, I have some silver too but not nearly enough compared to crypto.

 

[EmotionEngine]

"asset"

Ponzi schemes are illegal

Every generation has their own Ponzi scheme. They never come with a giant red label "PONZI SCHEME".

Also, they're always pitched as "the next big thing"

If you want decentralized currency, silver and gold are the answer, they always have been.

The teachings of what has consistently worked for 10,000 years of civilization has more value than my generation seems to understand.

I'm honestly not a crypto nut, heck I just bought my first cold storage wallet this year.

Bitcoin does have some advantages though:

• Gold can be confiscated from you as its just an asset. No one can take physically take Bitcoin from you since it's on a network run by a protocol. Try getting all the nodes on the planet. Impossible.
• Bitcoin is more practical than gold to give in large fractionalized quantities to the entire planet. (Try that with gold bars)
• Large quantities of gold requires vault and security.
• New gold is being found and mined every year. BBC says gold production totalled 3,531 tonnes in 2019. It's like a commodity. Bitcoin has a limited supply, true scarcity. Only 21 million tokens will ever be minted. Good luck inflating that, the network nodes across the planet will never agree.
• Over other coins, it doesn't have a foundation (ex. Ethereum) that mucks with the protocol. Bitcoin is largely the same when it came out and Satoshi's coins have never moved.

 

Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

[Matt33]

I'm honestly not crypto nut, heck I just bought my first cold storage wallet this year.

Bitcoin does have some advantages though:

• Gold can be confiscated from you as its just an asset. No one can take physically take Bitcoin from you since it's on a network run by a protocol. Try getting all the nodes on the planet. Impossible.
• Bitcoin is more practical than gold to give in large fractionalized quantities to the entire planet. (Try that with gold bars)
• Large quantities of gold requires vault and security.
• New gold is being found and mined every year. BBC says gold production totalled 3,531 tonnes in 2019. It's like a commodity. Bitcoin has a limited supply, true scarcity. Only 21 million tokens will ever be minted. Good luck inflating that, the network nodes across the planet will never agree.
• Over other coins, it doesn't have a foundation (ex. Ethereum) that mucks with the protocol. Bitcoin is the same when it came out and Satoshi's coins have never moved.

• Gold can be confiscated from you as its just an asset. No one can take physically take Bitcoin from you since it's on a network run by a protocol. Try getting all the nodes on the planet. Impossible.

I would not expect them to confiscate gold, but you never know. They have done it before in a currency crises. This is why I recommend storing physical gold in Switzerland. Check out Matterhorn asset management, or GoldSilver.com for amounts less than $400k

• Bitcoin is more practical than gold to give in large fractionalized quantities to the entire planet. (Try that with gold bars)

This is precisely why the U.S. dollar was created, as a note that represents gold to facilitate easier trade. It was rugpulled in 1971 and we have been on paper ever since. We don't have the option of another Paul Volcker to help us tame inflation this time. You can't raise rates to 15% when you have $30TN of national debt. They will try their best with reasonable rate increases and reducing the balance sheet, but I believe that large inflation is here to stay for a while.

This is extremely bullish for precious metals over the next 5-10 years.

• Large quantities of gold requires vault and security.

Bitcoin wallets can easily be lost or the storage device could fail. I have heard countless stories of this. With amounts $500k+ it would be smart to keep it in a vault with security.

A great option for holding Gold and Silver investments are the PSLV and PHYS ETFs. They also will save you on taxes, as they are taxed at the 20% capital gains rate. Stay away from SLV and GLD. These COMEX ETFs are not backed and are heavily used for price suppression. This manipulation keeps the dollar strong.

• New gold is being found and mined every year. BBC says gold production totalled 3,531 tonnes in 2019. It's like a commodity. Bitcoin has a limited supply, true scarcity. Only 21 million tokens will ever be minted. Good luck inflating that, the network nodes across the planet will never agree.

This is true, but Bitcoin has no intrinsic value. It is simply bought with the hopes that the value will increase. That is 98% of why it is used. It is also used for international exchange and illegal activity. I think Bitcoin is a good buy at $500-$1000, but I wouldn't touch it until then.

• Over other coins, it doesn't have a foundation (ex. Ethereum) that mucks with the protocol. Bitcoin is the same when it came out and Satoshi's coins have never moved.

Bitcoin and ETH are probably the only coins I would ever touch, and even then that is only if they were to get down to 1-2% of the ATH. Every other coin I have seen is a shitcoin with its own flavor, created by people trying to get rich, pumped up by people trying to get rich, and bag held by people expecting this to be their winning lottery ticket. How does any of this add value to society?

 

[EmotionEngine]

• Bitcoin is more practical than gold to give in large fractionalized quantities to the entire planet. (Try that with gold bars)

This is precisely why the U.S. dollar was created, as a note that represents gold to facilitate easier trade. It was rugpulled in 1971 and we have been on paper ever since. We don't have the option of another Paul Volcker to help us tame inflation this time. You can't raise rates to 15% when you have $30TN of national debt. They will try their best with reasonable rate increases and reducing the balance sheet, but I believe that large inflation is here to stay for a while.

This is extremely bullish for precious metals over the next 5-10 years.

I'm talking about logistics and not inflation. The point is the ease of distribution as it's not physical and getting it to billions around the planet. I'm not talking about the dollar or it's history.

• Large quantities of gold requires vault and security.

Bitcoin wallets can easily be lost or the storage device could fail. I have heard countless stories of this. With amounts $500k+ it would be smart to keep it in a vault with security.

That is not how good cold storage crypto wallets work. They do not store the coins. I can toss my wallet into the ocean, it can be stolen and I can still recover my Bitcoin. The seedphrase is in my mind and the coins are on the blockchain. How others handle their ownership doesn't affect the whole. People lose physical wallets all the time with money in them. Bitcoin by nature is almost otherworldly and metaphysical... I can own it in my head. Can you do that with gold?

[Lost Bitcoin can happen with poor management. Not saying its not possible, but doesn't that make it even more valuable and more scarce? Thanks actually.]

• New gold is being found and mined every year. BBC says gold production totalled 3,531 tonnes in 2019. It's like a commodity. Bitcoin has a limited supply, true scarcity. Only 21 million tokens will ever be minted. Good luck inflating that, the network nodes across the planet will never agree.

This is true, but Bitcoin has no intrinsic value. It is simply bought with the hopes that the value will increase. That is 98% of why it is used. It is also used for international exchange and illegal activity. I think Bitcoin is a good buy at $500-$1000, but I wouldn't touch it until then.

So dollars aren't used for illegal activity? Aren't dollars backed by "full faith and credit" of the US government. How is that better? My point is about scarcity and that it can't keep getting produced.

Bitcoin cannot be melted down and made into a necklace or put in someone's mouth. Those concepts are foreign to the protocol. I guess it takes an "L" for that? Does anyone care though? Doesn't that just make the point that gold is more of a commodity? I think so.

• Over other coins, it doesn't have a foundation (ex. Ethereum) that mucks with the protocol. Bitcoin is the same when it came out and Satoshi's coins have never moved.

Bitcoin and ETH are probably the only coins I would ever touch, and even then that is only if they were to get down to 1-2% of the ATH. Every other coin I have seen is a shitcoin with its own flavor, created by people trying to get rich, pumped up by people trying to get rich, and bag held by people expecting this to be their winning lottery ticket. How does any of this add value to society?

So I'm not talking about the other coins directly. My response to your post was simply about Bitcoin benefits, the only cryptocurrency I believe will be the dominant one in the future and it's not really a currency. It's an asset and store of value. People can play their odds with all the token projects popping up, but they really have no utility. If they bought the "Saylor Moon" coin or the "Sushi" coin that's their decision. Once regulation comes I don't think it will be much of a problem.

 

[AnNvr]

They are rigged, which is the opportunity. Silver is incredibly manipulated by the banks, because it is a threat to the dollar. It is an incredible buy at the current prices, and should go much lower as the markets crash and institutional investors sell their positions to cover margin calls.

I personally am holding 6 figures worth, with plans to add another $500k if a buying opportunity presents itself in the next year or 2. It went to $12 in March 2020.

On the other hand, I am holding zero crypto. I might buy BTC at $500, but I stay away from Crypto as it has zero intrinsic value.

Sorry Matt but I think we are talking two different pages. I am not saying you are wrong ( I agree with you on the intrinsic value of physical silver), but you have taken a statement and turn it out in something else changing topic.

By the way, saying that crypto has zero intrinsic value it means you have confusion about what crypto is.

 

Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

[Antifragile]

Just saw this post:

https://twitter.com/i/web/status/1525226153304199168

View: https://twitter.com/persiancapital/status/1525226153304199168?s=21&t=nDye6AzZpnTfPP3r4Cg3ZA


How do you feel about this? Make poor whole (all small wallets) vs give back 0.30 cents on a dollar to all?

 

[AnNvr]

Just saw this post:

https://twitter.com/i/web/status/1525226153304199168

View: https://twitter.com/persiancapital/status/1525226153304199168?s=21&t=nDye6AzZpnTfPP3r4Cg3ZA


How do you feel about this? Make poor whole (all small wallets) vs give back 0.30 cents on a dollar to all?

He's not wrong.

And point 7 says a lot - the root of the problem is the existence of whales and major institutions having access to unique perks and data about the capital markets that minor investors do not have.

I wish the best to all the small wallets afflicted by this disgusting operation.