Economy Bitcoin/Crypto is imploding

[Brampton_Boy]

Take a look at YETH and YBTC: Massive dividends.

Roundtree cover call strategy funds. The first pays a 63% annual divided paid weekly. The second pays 44.5%.

You can't beat that with a stick. Why are the returns so high? They depend on volatility.

Alot of that is return on capital. I own some ybit, and while the yield is high, nav erosion is terrible.

 

[Unknown Pleasures]

Rich people have gamed our system so well that now they don't even need to have an actual product to get morons to invest in something before fucking them over. Hey everybody buy these magic beans! The more you buy, the more they're worth!

I wish my Hawk Tuah coins were magic beans. They stopped jumping. :'o(

No I can't afford to pay my mortgage.

 

[Sinister]

Seems relevant:



Christ Texas sucks. Between this and the automated trucks, yeesh

 

[Prefect]

Yeah, my absolute pinpoint prediction based on technical analysis had no basis. JVS thought this too. Now he retired in shame. You’re one of the dumbest people I’ve ever conversed with.

There is no technical analysis of crypto that justifies any valuation as it is not being used for anything. The only value it has is of people buying it hoping others will buy it for more someday from them as it is still not being used in a way as currency to justify its existence. If all crypto one day just disappeared off the face of the planet, nothing in the financial industry would change.

 

[Prefect]

you can always sit the sidelines and watch it burn or blow up

You could say the same thing about pull tabs, lottery tickets, the roulette wheel. Any number of things. It isn't investing but just gambling.

 

[PBAC]

Time to buy?

 

[Rob Battisti]

Time to buy?

No

 

[HockeyBjj]

I think I've read this exact same headline about 20 times by now.

Yeah. I don't really like or trust Bitcoin, but it definitely hit the "too big to fail" point

 

[Koya]

Why would you not buy BTC now?

To pay rent ? Feed our kids ? Buy insuline ?

You know what you're right fuck all that I'm all in let's bet the house baby !

My wife is going to be happy today ! Lambo soon !

 

[Rob Battisti]

To pay rent ? Feed our kids ? Buy insuline ?

You know what you're right fuck all that I'm all in let's bet the house baby !

My wife is going to be happy today ! Lambo soon !

I have earned enough on crypto to buy a few lambos if I wished

 

[TrueBias]

Until I can buy things with Bitcoin, ill never understand the bullshit.

 

[gentel]

Crypto = ponzi, the only way it gains value is by new suckers buying in

(And no, stocks aren't the same, they're shares in companies that actually sell stuff and make money and pay dividends)

 

[Koya]

I have earned enough on crypto to buy a few lambos if I wished

That's the spirit. Me, I'm tired boss.

 

[Rob Battisti]

That's the spirit. Me, I'm tired boss.

Just lengthen your time horizon. If you think it’s not going up to $1,000,000 eventually then you need to reassess your understanding of the asset. Meaning, it will absolutely continue to go up.

 

[KOByFootStomp]

Maybe Crypto is done and Beanie Babies are set for a comeback.

 

[Eusung]

My friend bought a bunch of btc in when it was still under $1k per coin. He has about 7 coins I think. He has yet to sell any. He lives in Indonesia and gets social security which covers his living expenses since it's so cheap to live there.

Even though btc has reached "too big to fail", it's still relatively new and anything can happen, so if I was him I would have sold two coins when it hit 125k months ago, and invested that into the S&P500 + QQQM or VGT as a back up plan. The remaining 5 BTC is plenty to retire in Indonesia or even the US if he chooses.

And if something happens to BTC in the future, hey at least he would still have 250k fully invested which will grow pretty fast with a 10% return each year. 250k fully invested is like halfway to a million dollars. You can actually retire in Indonesia on just 250k if you live very frugally. 400k and you can retire very comfortably.

 

[nonoob]

Until I can buy things with Bitcoin, ill never understand the bullshit.

Can't think of any brick & mortar stores with a sign saying Crypto Accepted.

Years ago saw new appliances and computers with Continental US Delivery available on a website (?) online. No Credit Cards were accepted, only cash, cash equivalent, or Crypto. IIRC there was something weird noted about the tax rate not being the same in all states.

 

[Long Dark Blues]

Until I can buy things with Bitcoin, ill never understand the bullshit.

New Jersey dispensaries accept SOL as well as other crypto. I don't know how many actually do, but I know some do.

 

[avenue94]

New Jersey dispensaries accept SOL as well as other crypto. I don't know how many actually do, but I know some do.

I imagine that's more because they're cash businesses, rather than any larger adoption of crypto.

 

[WhiteMousse]

To pay rent ? Feed our kids ? Buy insuline ?

You know what you're right fuck all that I'm all in let's bet the house baby !

My wife is going to be happy today ! Lambo soon !

If someone is living paycheck to paycheck, you have to do what you have to do. If that's your situation I'm sorry and meant no offense but if someone has enough after expenses to save, my sincere recommendation is to put into this. It's going to go up again. You can count on it