Bitcoin crash coming?

[svandamme]

Originally Posted by Jims5543

Banning Russia from the world banks, has caused a run on BTC.

Seems Crypto sellers cannot ban Russians from buying.

As a result, BTC is up 15% today. A rising tide blah blah ...All my crypto is up one to 15%.

I just dumped some cash into BTC with the plan to move it to other under performing crypto by weeks end.

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Untill the US and EU decide they'll ban crypto as a result

[tabs]

Originally Posted by svandamme

Untill the US and EU decide they'll ban crypto as a result

Well..they will not hinder the Russians from piling in as much money as they can and will then crash Bitcoin destroying all that wealth..

That is the way to fk a Russian real gud.

[svandamme]

yeah, Tabs, we agree for a change

[mjohnson]

Originally Posted by svandamme

sure, silver no sweat, that makese more sense then crypto..
it will never become air.
worst case you can make silver bullets with it for use against wherewolves

For some reason we have, literally, a ton of silver sitting in a vault at work as it got contaminated with something. So, should the werewolves come - look us up. You can get Ag with a little extra zing of tritium.

Also, as it's "waste", it's free to whoever (internally) wants it.

Beer will fix the tritium problem (3H binds with water and beer makes pee, or so I hear) but the silver is harder to deal with if you're a werewolf. (Lore is that if you got dosed with 3H at the old bomb factory south of Boulder you got sent home with a cert for a case of Coors)

[svandamme]

I Think the tritium might actually help with zombies?

2 for 1 special?

[Jims5543]

Originally Posted by Skillet83

I keep buying with fun money. I just DCA a little every month, good or bad, but have a very nice stack. It goes up, it goes down, very volatile. But, at the end of every year, I have a whole lot more.

Any money I have in the crypto world I am prepared to lose.

You miss 100% of the shots you do not take.

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[Wayne 962]

Originally Posted by Jims5543

Banning Russia from the world banks, has caused a run on BTC.

Seems Crypto sellers cannot ban Russians from buying.

As a result, BTC is up 15% today. A rising tide blah blah ...All my crypto is up one to 15%.

I just dumped some cash into BTC with the plan to move it to other under performing crypto by weeks end.

Sent from my SM-G781U using Tapatalk

Has it really? I would love to see some evidence of the transactions coming from Russia - that would be actual proof rather than hyperbole? I'm actually guessing that the "whales" in the Bitcoin space jumped back in to BTC in *anticipation* of people moving assets into Bitcoin from Russia. But I'm not sure of the reality of that at this moment.

Has anyone on the interwebs looked at where these purchases are coming from?

-Wayne

[Jims5543]

Originally Posted by Wayne 962

Has it really? I would love to see some evidence of the transactions coming from Russia - that would be actual proof rather than hyperbole? I'm actually guessing that the "whales" in the Bitcoin space jumped back in to BTC in *anticipation* of people moving assets into Bitcoin from Russia. But I'm not sure of the reality of that at this moment.

Has anyone on the interwebs looked at where these purchases are coming from?

-Wayne

I kept getting notices my crypto was rising over and over again Monday.

I wondered WTF was going on, I jumped in a private trading chat room and that was the word circulating there on Monday, which coincided with the news that Cryto sellers refused to attempt to throttle Russia saying it was near impossible to do. Which seemed to explain the sudden 15% increase in BTC.

Sorry, no hard evidence, like there would be anything to trace.

[Jims5543]

Originally Posted by Wayne 962

Has it really? I would love to see some evidence of the transactions coming from Russia - that would be actual proof rather than hyperbole? I'm actually guessing that the "whales" in the Bitcoin space jumped back in to BTC in *anticipation* of people moving assets into Bitcoin from Russia. But I'm not sure of the reality of that at this moment.

Has anyone on the interwebs looked at where these purchases are coming from?

-Wayne

https://www.zerohedge.com/crypto/heres-how-much-bitcoin-russia-has-bought-past-week

Seems the 15% spike was more investors anticipating.

While the potential for capital flight is high, as Citi details above, Russian volumes (although impressive-looking on the chart) have been relatively small in absolute terms so far (around 210 bitcoin per day on average), suggesting that the price action is more due to investors positioning for an expected uptick in demand from Russia, rather than Russian demand itself.

[speeder]

Anyone who is "investing" in Bitcoin at the moment is definitely "the bigger fool."

[Wayne 962]

Yes, I agree. This market seems to be driven 99% by speculators versus the actual "users" of Bitcoin. Like the Beanie Baby market from 20 years ago - how many of those "investors" were actually playing with the dolls?

-Wayne

[Jims5543]

I agree anyone investing in it like the Stock Market (I typed that without laughing) is insane.

I am not invested in it. I have money sprayed around on a bunch of different crypto's hoping one will hit.

Hope being the key word here.


I missed the boat a few times, therefore, you cannot get a hit if you have no skin in the game.

The small amount (relatively speaking) I have in there, would not be missed if it vaporized tomorrow. It would be annoying but would not even hurt.

Now, if one or two of these take off in a year or two... that will be nice.

[sugarwood]

Originally Posted by Wayne 962

Yes, I agree. This market seems to be driven 99% by speculators versus the actual "users" of Bitcoin. Like the Beanie Baby market from 20 years ago - how many of those "investors" were actually playing with the dolls?

-Wayne

[Por_sha911]

[Shaun @ Tru6]

30,916.70

pretty tempting

[sugarwood]

Originally Posted by sugarwood

You're right, calling it a Ponzi is too legitimate. Crypto is not even a closed loop Ponzi, since it is generated out of thin air. There are thousands of worthless cryptos.

I can create a new cryptocurrency today, create 50 million tokens, buy 3 of them for $1 each, and viola, $50 million marketcap out of thin air. There is far less real money money in the system than the marketcaps suggest.

Very accurate still.

[Wayne 962]

Terra (and Luna) "broke the buck" Sunday night. Even if it comes back, it's forever damaged. Probably Tether too, although it's always been acknowledged that Tether is probably a scam with an upcoming "rug pull!".

-Wayne

[McLovin]

I’m out of Bitcoin.
I had made a nice bit a couple years ago.
But made the mistake of going in again to try to get one last hit.
I had a stop loss in place so I couldn’t lose more than my profits, and it got triggered yesterday.
I believe the bottom will be $6-9,000 or so.

[Wayne 962]

OMG - it's a big deal today. On the Reddit forums, they have posted suicide prevention hotlines for people (on the Terra / Luna forums). So sad. This crap is perhaps a good example of why it might be good to have some government oversight. I'm a government-free Libertarian at heart, but when these companies and schemes and scams prey on very unsophisticated investors, it's really a problem...

-Wayne

[Arizona_928]

Originally Posted by Wayne 962

OMG - it's a big deal today. On the Reddit forums, they have posted suicide prevention hotlines for people (on the Terra / Luna forums). So sad. This crap is perhaps a good example of why it might be good to have some government oversight. I'm a government-free Libertarian at heart, but when these companies and schemes and scams prey on very unsophisticated investors, it's really a problem...

-Wayne

95$ to a dolla.

I thought I had it bad when peabody coal went to a buck and did a 15:1 reverse. rofl