Economy Bitcoin/Crypto is imploding

[johnsmithjohnson]

That's why i don't mess with crypto with infinite supply. For me it's BTC/Eth/Link/Solana and a few more I'm forgetting. The ones with a supply of infinity I avoid, although some of those can certainly pump at times.

No. You can't have a currency with a finite supply. Lol deflation will get insane and it will become untethered from other currencies and reality and eventually collapse. Btc was finishing low hanging fruit about 2 years ago. Now with power costs, computer cost, you'd have to put a false value on a btc and deal with economies of xvalf getting wonkie.
Tldr you can't have a finite supply of currency. Deflation for starters

 

[johnsmithjohnson]

You can't just print money but at the same time to try and say there will only be 1000000 American dollars ever it wouldn't go well. Btc can be fixed, but it's a pain. If it stays capped at 21 yeah it's clearly a pyramid scheme set to go off at 20.25 ish but will retain some value as a "marker" in some communities.

 

[Rob Battisti]

I'm sure winning a Sherdog WR bet would be a warm comfort if, god forbid, you were to end up losing the much more important bet made on your life savings bud lol

Who lost their life savings?

 

[Limbo Pete]

Who lost their life savings?

If?

 

[Rob Battisti]

If?

I literally never have a clue what you’re talking about

 

[The Servant]

New fed chair coming sometime after May, prepare to pump and for the markets + crypto to come roaring back. I think even meme coins will be back on the menu for the 2nd half of Trumps presidency, get your pepe coin and dogwifhat ready.

 

[b34stmode]

New fed chair coming sometime after May, prepare to pump and for the markets + crypto to cole roaring back. I think even meme coins will be back on the menu for the 2nd half of Trumps presidency, get your pepe coin and dogwifhat ready.

Brother the damage done from this isn’t going to allow the market to bounce back by May. Unless you are talking about May 2029.

 

[Mr Holmes]

My shit coins are down!

 

[The Servant]

Brother the damage done from this isn’t going to allow the market to bounce back by May. Unless you are talking about May 2029.

I think we are going to see some big inflation and people are going to be putting their money into all kinds of "assets" like fart coin, doge, etc etc so they dont lose value.

 

[PBAC]

I'd just keep it simple and say it will fall until everyone feels comfortable buying again, while attracting new buyers. The big sellers reinvest a portion of their gains for future profit. The cycle continues.

 

[Sweater of AV]

Need to hear Ben Asskren's autistic analysis of what's happening before I form an opinion.

 

[Cole train]

Reddit right now

 

[Jar of Flies]

Wasn’t there a poster here who said he was voting for Trump solely because he’d be great for Bitcoin? He must be happy right about now.

 

[johnsmithjohnson]

Wasn’t there a poster here who said he was voting for Trump solely because he’d be great for Bitcoin? He must be happy right about now.

I don't think most people into bitcoin are aware of basic economics
Like you can't have only 21 million btc total and expect the currency to last. It will deflate until it pyramids then crashes.

It's really basic shit. You cant have currency with a maximum possible amount. That's just retarded. At most it's a marker

 

[b34stmode]

broke 62k last night, I would absolutely stay away from buying right now. 72k is a level to watch to see if it breaks and stays above or bounces back down off it. If it bounces off it the bottom isnt in yet. im gonna add a decent amount if it does break 72k income tax money should be here soon lol.

 

[b34stmode]

My shit coins are down!

lold, shitcoins disappear years ago, that shit was the WILD west, I miss it so much.

I mean, every coin I was in EVENTUALLY rug pulled but I was part of 3-4 legit projects for a while that literally 300x'd. I don't think it will ever happen again like it did during BNB/SOL's initial huge boom.

NFT's maybe have another insane run in them because there is legit utility behind them.

 

[AWilder]

Michael Saylor, executive chairman of the Bitcoin-focused firm Strategy, is facing renewed criticism. He claimed that BTC would surge to $10 million “tomorrow” if people agreed with his views.

This comes even as his company’s Bitcoin holdings slide into multibillion-dollar unrealized losses and its share price continues to fall.

The comments, made in a recent video, have drawn sharp backlash online as tension between Saylor’s long-term Bitcoin thesis and the financial strain on Strategy’s balance sheet reaches boiling point.

Michael Saylor Under Fire After Claiming Bitcoin Will Surge To $10M Tomorrow If ‘People Agreed With Him'

Michael Saylor faces backlash after claiming Bitcoin's price could hit $10 million “tomorrow,” as Strategy’s losses exceed $3.7 billion.

www.ccn.com

.....

lol

lol, it's not a scam, i just need everyone to think it's worth ten million and then my infinite money glitch (grift) can continue

 

[AWilder]

I'm sure winning a Sherdog WR bet would be a warm comfort if, god forbid, you were to end up losing the much more important bet made on your life savings bud lol

 

[LMP]

The climb to $1,000,000 has started