BITCOIN

[q6543]

I work overnights... you could tell they were trying to break tether last night... it got in the .97s as bitcoin puked into the 25s..

Then it stabilized and a bottom was put in.
They got alot of tether depegging fear to capitulate in the session.

 

[cobracide]

My break even point for BTC is like $500 a coin for mining equipment costs. Still using that hardware.

 

[Kevins89notch]

So...

You bought sub $10k.

Why did you stop buying?

I've bought now and then. I was never all "OMG, this is the next big thing, I'm all in" but more of a "I'll throw some fun money at this and if it crashes to zero, I'll just shrug."

 

[mysticsvt]

I've bought now and then. I was never all "OMG, this is the next big thing, I'm all in" but more of a "I'll throw some fun money at this and if it crashes to zero, I'll just shrug."

And that's how you gotta treat it. But it's fun when your play money turns into 50K. Or when you throw 8k in a coin and it's 14k the next day

 

[Klaus]

 

[jbr03cobra]

Sounds like a good time to buy!

 

[me32]

Sounds like a good time to buy!

Hop in they are waiting

 

[mysticsvt]

I'd trust Bitcoin or Eth to climb out of the hole eventually...who the hell is Luna?

 

[CompOrange04GT]

Hop in they are waiting

Is this another “ because I said so “

 

[me32]

Is this another “ because I said so “

Nope just pushing those looking for that push.

Its about time you popped back up. For awhile you went silent. Must be all the millions you were making.

 

[KilledbyKenne]

We should screenshot the S&P and Bitcoin prices today and then again in 5 years. See which has the better % of return. Could be interesting.

 

[Klaus]

I'd trust Bitcoin or Eth to climb out of the hole eventually...who the hell is Luna?

Luna is the latest stable coin to eat shit. Tether is next, which will be a nuclear bomb..These are required for the crypto market to function.

It is a Lehman Brothers moment minus the government rescue. You will be cost averaging all the way down to zero.

 

[Myfast]

Zero is right xaxaxa

 

[cobracide]

These are required for the crypto market to function.

Completely false. I traded a ton of crypto before stablecoins were even in existance.

 

[Klaus]

Completely false. I traded a ton of crypto before stablecoins were even in existance.

Beanie babies were worth a lot for a while until they were not.

 

[cobracide]

Beanie babies were worth a lot for a while until they were not.

Try and stay on track. You're still wrong about stablecoins being essential to crypto.

Nice BTC bounce back to $30k. Probable flight to security from altcoins to BTC. Look for a growth stock bounce today as crypto leads stocks again.

 

[Klaus]

You're still wrong about stablecoins being essential to crypto.

Let's start at a basic level: what is bitcoin and what is its purpose? Answer this in your own words.

 

[cobracide]

Let's start at a basic level: what is bitcoin and what is its purpose? Answer this in your own words.

Still changing the subject because you are wrong about stablecoins and crypto.

Lets stay on topic with your argument and premise that stablecoins are essential to crypto- in your own words - why? Because the crypto markets existed long before stablecoins and did fine.

 

[Klaus]

Still changing the subject because you are wrong about stablecoins and crypto.

Lets stay on topic with your argument and premise that stablecoins are essential to crypto- in your own words - why? Because the crypto markets existed long before stablecoins and did fine.

OK, I will answer the question since you cannot.

The premise of crypto is that it is a currency. In order for a currency to function as a currency it cannot be volatile. Stablecoins supposedly solved for this.

The value of crypto to this point has been a function on the promise of adoption. It may not be an actual currency now but it will be in the future. That is the story at least.

The collapse of stablecoins (and exchanges) destroys that narrative. The future that the bitcoin bros have promised cannot come to fruition without a functional stable lcoin ecosystem.

Without this it is just a ponzi scheme. It really always was but now it is obvious. Pro tip: you are holding a ponzi asset if your only rationale for the value of an asset is what you paid for it.

Hilariously the bitcoin bros cannot even explain what bitcoin actually is or why it exists but insist that it has value (although they have no idea how to value it.)

 

[cobracide]

OK, I will answer the question since you cannot.

The premise of crypto is that it is a currency. In order for a currency to function as a currency it cannot be volatile. Stablecoins supposedly solved for this.

The value of crypto to this point has been a function on the promise of adoption. It may not be an actual currency now but it will be in the future. That is the story at least.

The collapse of stablecoins (and exchanges) destroys that narrative. The future that the bitcoin bros have promised cannot come to fruition without a functional stable lcoin ecosystem.

Without this it is just a ponzi scheme. It really always was but now it is obvious. Pro tip: you are holding a ponzi asset if your only rationale for the value of an asset is what you paid for it.

Hilariously the bitcoin bros cannot even explain what bitcoin actually is or why it exists but insist that it has value (although they have no idea how to value it.)

Wrong. The premise of crypto is an ever increasing "store of value" outside of government control and easily transferable.

Volatility is in it's nature and a plus as an investor. The more volatility, the more chances of making a profit on investing in crypto.

Bitcoin was never meant to be a stable currency substitute. Ever.