Economy Bitcoin/Crypto is imploding

[Ezekiel 25:17]

If you cant touch it, you cant trust it.

 

[Long Dark Blues]

What technology is that?

Blockchain.

 

[WhiteMousse]

Would be fitting for the crypto bro's to have their investment crash to near zero. But sadly the world doesnt always punish those who deserve it.

Why does someone investing in BTC deserve to have it go to zero?

 

[WhiteMousse]

DCA maybe but I think we revert down to 75 at least

It was at 80k I guess not too long ago, now up to 84

 

[Cole train]

 

[KaNesDeath]

Why does someone investing in BTC deserve to have it go to zero?

Crypto was created so people could park their savings into something that would retain its value. Instead it was co-opted into a unregulated speculation market. Where those who are vocal about are the small fries trying to generate hype for whats in essence a pyramid scheme.

 

[A Very Serious Cat]

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 !

No one should ever bet the house on any investment unless you have really solid insider info. Nothing wrong with spending some disposable income though, it's like going to the casino but with probably better odds

 

[heloder]

Blockchain.

What use is this technology?

 

[Long Dark Blues]

What use is this technology?

It is a distributed ledger that, in time, all of everyones' lives will be recorded on. Birth to death recorded on some government chain. Peoples' fingerprint an NFT, their signature, their government photo. Lease agreements, mortgage agreements, marriage licenses... entire debt histories a series of smart contracts.

We are living through and participating in the proof of concept. Well, crypto bros are... those that some people think should be punished for some reason.

 

[Long Dark Blues]

Crypto was created so people could park their savings into something that would retain its value. Instead it was co-opted into a unregulated speculation market. Where those who are vocal about are the small fries trying to generate hype for whats in essence a pyramid scheme.

Blockchain is government technology, let loose so that smart technologists could/would perfect and build upon it.

Similar to how the infrastructure to the dark web, the onion network, Tor browser, etc. was developed by the Navy for the CIA and special forces.

It's no surprise smart but also unscrupulous people took advantage of this as well for rug pulls, etc. I agree these people should be punished.

 

[heloder]

It is a distributed ledger that, in time, all of everyones' lives will be recorded on. Birth to death recorded on some government chain. Peoples' fingerprint an NFT, their signature, their government photo. Lease agreements, mortgage agreements, marriage licenses... entire debt histories a series of smart contracts.

We are living through and participating in the proof of concept. Well, crypto bros are... those that some people think should be punished for some reason.

So, a dystopian hell hole where everything we are and do is recorded and tracked by the government?

 

[RemyR]

So, a dystopian hell hole where everything we are and do is recorded and tracked by the government?

Nah that's just the Patriot Act and the NSA

Spoiler

Pardon Snowden already

 

[Rob Battisti]

Why does someone investing in BTC deserve to have it go to zero?

Because he’s an asshole

 

[Gas121]

Crypto was created so people could park their savings into something that would retain its value. Instead it was co-opted into a unregulated speculation market. Where those who are vocal about are the small fries trying to generate hype for whats in essence a pyramid scheme.

The real scheme is becoming a 'treasury'. This is the biggest grift. Saylor basically pivoted as he is running a failing business like many others. Just become a treasury, buy any random crypto and claim you are doing something revolutionary lol.

 

[Rob Battisti]

The real scheme is becoming a 'treasury'. This is the biggest grift. Saylor basically pivoted as he is running a failing business like many others. Just become a treasury, buy any random crypto and claim you are doing something revolutionary lol.

What MSTR does is very different

 

[LMP]

Because he’s an asshole

I mean i still think it eventually fails but I'm glad for you guys that have made money. Hoping you can buy back in make more and sell off before it crashes.

 

[Rygu]

If you've followed or invested in crypto for a few years or more you definitely know it has has seen far worse times than this on multiple occasions.

I'm not saying it's going to zero or going back up huge or anything in between, I am just saying this isn't anything new to experienced crypto fans.

As always, zoom out.

 

[Prefect]

If you cant touch it, you cant trust it.

Or there is nothing stopping anybody from making X different kinds of crypto. How many are there? Why are that many if they "work"? It is just a group of people trying to find someone else to buy their bag. This few years, it is basically as volatile as gold, but no one would say gold is a miracle get rich investment.

 

[Rob Battisti]

I mean i still think it eventually fails but I'm glad for you guys that have made money. Hoping you can buy back in make more and sell off before it crashes.

I appreciate that. It’s just funny to me. 30% pullbacks happen all the time and everytime people think it’s the end of the world.

It couldn’t be more normal.

 

[Prefect]

Crypto was created so people could park their savings into something that would retain its value. Instead it was co-opted into a unregulated speculation market. Where those who are vocal about are the small fries trying to generate hype for whats in essence a pyramid scheme.

Most crypto is owned by investment firms. The idea that it is unregulated, unmanipulated, or the every man's currency is without merit. It is regularly manipulated with wash trades and buy backs with untethered tethered crypto.