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Economy Bitcoin/Crypto is imploding

b34stmode said:
I mean if BTC ever reaches 1 million, you will just have it in some type of staking account and only pull profits from it and never touch your bitcoin no? Imagine the security that will be needed on crypto at that point in time, fucking lmao. Will need a live blood sample or something to get into your account XD
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Finna hunt down our mans rob battishit and steal his ledger when it hits a milli
 
Rob Battisti said:
I think people believe that you cant believe in bitcoin if you ever sell. I believe in bitcoin, and will buy it and sell it until it reaches 1 million dollars and beyond. By then I hope to have 5 to my name.
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He doesn't believe in bitcoin as a utility. He believes in it as a speculative asset, he believes if he uses his liquidity today he'll be able to get ahead of some whales and sell for a profit later.

He believes in gambling.
 
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Rational Poster said:
He doesn't believe in bitcoin as a utility. He believe in it as a speculative asset, he believes if he uses his liquidity today he'll be able to get ahead of some whales and sell for a profit later.

He believes in gambling.
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utility in what way? I mean the insane amount of poker/gambling sites that use strictly crypto shows its utility is real and being used in real time. Also good luck getting one over on the whales that control literal BILLIONS in whatever crypto asset you want to talk about. You can only ride their ripple waves, its a literal scam to day trade crypto.
 
b34stmode said:
utility in what way? I mean the insane amount of poker/gambling sites that use strictly crypto shows its utility is real and being used in real time. Also good luck getting one over on the whales that control literal BILLIONS in whatever crypto asset you want to talk about. You can only ride their ripple waves, its a literal scam to day trade crypto.
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Yes I'm aware the criminals have found some temporary utility while the techno illiterate boomers allow them to turn everyone into gambling addicts.

I'm talking more about the crypto bros that have been trying to tell me that Bitcoin is a currency since like 2013.
 
b34stmode said:
I mean if BTC ever reaches 1 million, you will just have it in some type of staking account and only pull profits from it and never touch your bitcoin no? Imagine the security that will be needed on crypto at that point in time, fucking lmao. Will need a live blood sample or something to get into your account XD
Click to expand...
Once we reach those numbers, yes I’ll just hold it and borrow against it. We’re not there yet. My aim is to acquire as much BTC as possible.
 
Since October 30th, I am down close to $50k.

All of my tech ETFs have been smashed. It isn't just bitcoin, AI, software and virtually any speculative tech stocks.

One of my ETFs holds PLTR, RDDT, HOOD, DKNG, COIN, MSTR, NFLX -- all are down 30-60% since October.

I just put $92K into VFV.TO (Vanguard S&P 500) earlier today. No more speculative growth ETFs for me (beyond what I already hold). All future money is going to be pumped in the S&P500 and the TSX. I also significantly reduced my TLT holdings - that is what I used to finance my VFV purchase.
 
Rob Battisti said:
Called that I had made a 380% return and took profit while still buying and believing whole heartedly in the asset? It’s called investing.

Level in level out.

Is this supposed to be a “gotcha”?
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My house is now worth over 300% more than what I paid for it, plus I get to live in it. How's that for utility?

Also I am a financial mastermind.
 
Rational Poster said:
Yes I'm aware the criminals have found some temporary utility while the techno illiterate boomers allow them to turn everyone into gambling addicts.

I'm talking more about the crypto bros that have been trying to tell me that Bitcoin is a currency since like 2013.
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How it works if you want to have a legal case dropped or favors
You buy 10 mill of trumps sons coin. You can hide what is going on with crypto. They just keep the cash. The currency must be bought from the trump company.
People think oh it's in demand and value rises. When it's value is too high and people might collect you dilute the market and sell bunch of to a friend a discount and when the market pops back up they sell it.
When trump leaves office who knows what they will do.

People have been rocking this bullshit currency to meet leaders and gamble with since the Romans. Really same exact scam, it collapsed areas of the roman economy total clusterfuck possible the reason for major fires.
Eventually it will crash then the public will foot the bail outs.

I mean Disney dollars and Amazon points are the same exact shit it's just the presidency is a theme park at the moment
 
Rob Battisti said:
I think people believe that you cant believe in bitcoin if you ever sell. I believe in bitcoin, and will buy it and sell it until it reaches 1 million dollars and beyond. By then I hope to have 5 to my name.
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This is the core issue with crypto, it's basically a trading mechanism rather than an investment, hence why 99% of crypto coins do not exist. Many just use it as a trading vehicle and hope to get rich from it, then convert back to USD lol. Then you've got huge gritters involved like Saylor.

b34stmode said:
I mean if BTC ever reaches 1 million, you will just have it in some type of staking account and only pull profits from it and never touch your bitcoin no? Imagine the security that will be needed on crypto at that point in time, fucking lmao. Will need a live blood sample or something to get into your account XD
Click to expand...

Bitcoin to 1 million? $20.5 trillion market cap? It's more than likely we won't be around by that point. The 1M price for BTC is just a magic number that people created and like, there is literally no merit to it at all. Have a listen to Michael Saylor most recent interview when you get a chance, Honestly mate he is an absolute nutcase. This guy is the face of cryptocurrency.

{<jordan}
 
Gas121 said:
This is the core issue with crypto, it's basically a trading mechanism rather than an investment, hence why 99% of crypto coins do not exist. Many just use it as a trading vehicle and hope to get rich from it, then convert back to USD lol. Then you've got huge gritters involved like Saylor.



Bitcoin to 1 million? $20.5 trillion market cap? It's more than likely we won't be around by that point. The 1M price for BTC is just a magic number that people created and like, there is literally no merit to it at all. Have a listen to Michael Saylor most recent interview when you get a chance, Honestly mate he is an absolute nutcase. This guy is the face of cryptocurrency.

{<jordan}
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I don't even care if people want to gamble like this if they've got it.

The packaging they've been trying to sell over the decades though is just straight up snake oil.

Just be honest about it, but they can't be. The speculation is fueled by their fairy tales.
 
Rational Poster said:
Yes I'm aware the criminals have found some temporary utility while the techno illiterate boomers allow them to turn everyone into gambling addicts.

I'm talking more about the crypto bros that have been trying to tell me that Bitcoin is a currency since like 2013.
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It's a currency!
It's a hedge against inflation!
It's a store of value!

Blah blah blah!!!

It's bullshit, fueled by bro vibes. People try to ride the waves, hoping someone else is holding the bags when Funtime stops. That's all.
 
Rational Poster said:
I don't even care if people want to gamble like this if they've got it.

The packaging they've been trying to sell over the decades though is just straight up snake oil.

Just be honest about it, but they can't be. The speculation is fueled by their fairy tales.
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100%.

I like to gamble. If someone else does, that's fine. But don't piss on my leg and tell me it's raining. You want to gamble with your monopoly money, go ahead, but drop the gobbledygook about it, please. Everyone is lying to you for money.
 
Rational Poster said:
He's officially holding negative bitcoin assets now, right?
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Strategy (NASDAQ:MSTR) is now $630 million underwater on its Bitcoin (CRYPTO: BTC) holdings, wiping out $47 billion in unrealized profits from just four months ago as Bitcoin plunged below the company’s $76,037 average cost basis.

The Profit Wipeout​

Bitcoin fell 15% in the first four days of February, pushing Strategy’s position underwater for the first time since the company began accumulating in August 2020.

The company is down on its total Bitcoin holdings as long as the price stays below $76,000, despite BTC still being up 550% since Michael Saylor’s first purchase.

Strategy purchased heavily near Bitcoin’s October peak, leaving the company exposed when prices collapsed.

Saylor posted “The Rules of Bitcoin: 1. Buy Bitcoin 2. Don’t Sell the Bitcoin” on Tuesday, doubling down on his strategy despite the massive profit wipeout.
 
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