Crypto

[Anonymous]

Gotta love the crypto market. Bonk is up like 50% today. Shib is booming. It’s a 24 hour casino. I know all the alt coins are crazy but when it’s a bull run they pump!

[Anonymous]

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Anonymous wrote:What can you buy with cryptocurrency?

One of my friends bought and mined bitcoin, held it, and ended up buying a 600k house with it. Just sayin.

Interesting they accepted bitcoin at settlement.

Clearly, they sold and converted back to USD, but still.

And yes, there are services that accept Bitcoin as payment.

Oh. Cool. So remind me how bitcoin is going to replace “fIaT cUrRenCY”?

Incredible how ignorant some of you can be.

Let it be. I have given up explaining to people. Some of you, please watch Saylor's Prague presentation about Bitcoin.
Fiat currencies are eaten up by inflation. So are all other asset classes. Remember, Bitcoin is in your head. The keys, the passwords you take anywhere you go. Nobody is going to stop you at the border for holding too much B. like they do with cash.
Remember when they stop you to ask if you have enough cash to stay in US/EU for three months. Pull out your phone, show them your millions, and keep walking.

Yes, of course this currency that is designed to be not under the control of governments, will be accepted by those governments as proof of approved currency.

[Anonymous]

Anonymous wrote:Gotta love the crypto market. Bonk is up like 50% today. Shib is booming. It’s a 24 hour casino. I know all the alt coins are crazy but when it’s a bull run they pump!

Hope you aren't holding the bag when the rug gets pulled!

[Anonymous]

I'm sure a lot of people made a lot of money with Bitcoin. The reality is that all the money made from Bitcoin comes from people losing money in Bitcoin, for an endless list of reasons from accidents to scams to hacks and thefts. Some of that money is money that is stolen in fiat and then converted to Bitcoin, so that losing a substantial percentage isn't a problem.
There is no productive use of the currency.

So you need a really good reason for knowing why you'll be a winner.

And same for all cryptocurrencies.

[Anonymous]

Cryptocurrency bros and gals are always so desperate for attention when they talk their book.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Gotta love the crypto market. Bonk is up like 50% today. Shib is booming. It’s a 24 hour casino. I know all the alt coins are crazy but when it’s a bull run they pump!

Hope you aren't holding the bag when the rug gets pulled!

My dude I am using money I am not scared to lose. I’m not one of these folks from like late 2021 who were caught up in the hype mortgaging their houses and sht. I know it’s a greater fool game. It’s just nice to see green arrows on the screen and see my investment 10x in a matter of days.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Gotta love the crypto market. Bonk is up like 50% today. Shib is booming. It’s a 24 hour casino. I know all the alt coins are crazy but when it’s a bull run they pump!

Hope you aren't holding the bag when the rug gets pulled!

My dude I am using money I am not scared to lose. I’m not one of these folks from like late 2021 who were caught up in the hype mortgaging their houses and sht. I know it’s a greater fool game. It’s just nice to see green arrows on the screen and see my investment 10x in a matter of days.

I also derive sick pleasure from all the nay sayers on here. We get it. You have Vanguard mutual funds that’s are super safe and we are all stupid for doing this. Thank you. We love you.

[Anonymous]

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I use my play money on crypto. I'm 100% fine with losing ALL of it.

This is my attitude.

No, my students aren’t talking about it yet. Once we get celebs and TikTok involved that’s when the hype climbs dramatically. We are not there yet.
I started mining crypto 8 years ago. I have no investments except time, electricity and PC parts. I’ve only made $10k but basically risk free. Not really planning to invest any new money. Just trading what I have for fun. Made a few grand on Shiba Inu a few years ago. Pure hype. All crap.

We're you in a coma for the last 3 years?! Larry David and Matt Damon shilled crypto to boomers and Gen X at the Super Bowl last year.

Twitter, YouTube, and Tiktok are overrun with crypto scammers.

That was the time to sell. Not to buy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
I use my play money on crypto. I'm 100% fine with losing ALL of it.

This is my attitude.

No, my students aren’t talking about it yet. Once we get celebs and TikTok involved that’s when the hype climbs dramatically. We are not there yet.
I started mining crypto 8 years ago. I have no investments except time, electricity and PC parts. I’ve only made $10k but basically risk free. Not really planning to invest any new money. Just trading what I have for fun. Made a few grand on Shiba Inu a few years ago. Pure hype. All crap.

We're you in a coma for the last 3 years?! Larry David and Matt Damon shilled crypto to boomers and Gen X at the Super Bowl last year.

Twitter, YouTube, and Tiktok are overrun with crypto scammers.

That was the time to sell. Not to buy.

Honestly, I’m amazed crypto has come back. It’s here because the US and the world haven’t implemented any solid regulations. So it’s back for another “bull run”. I thought it was cooked after all those idiots lost their hats in like early 2022, but here we are. I mean I bought some. I didn’t panic sell. I just played around with extra money. Now it’s all rising again. Ha ha it’s just weird. I still have a hard time taking anyone seriously who like truly invests tons in alt coins of questionable repute. Bitcoin though. I’m convinced this thing is here to stay. The whole world is buying it. Anyway, here we are.

[Anonymous]

I don't see why people have a hard time grasping why btc has value. It's an international digital currency that circumvents the world's financial system and is inflation proof. Those two things are very valuable depending on where you live. Maybe Americans have a hard time understanding since they have less of a need to hide money from their gov or hedge against inflation. The better run your economy, the less appealing BTC is. In countries with crappy economies, junk currency, and oppressive governments it's not the worst place to put your money.

[Anonymous]

Anonymous wrote:I don't see why people have a hard time grasping why btc has value. It's an international digital currency that circumvents the world's financial system and is inflation proof. Those two things are very valuable depending on where you live. Maybe Americans have a hard time understanding since they have less of a need to hide money from their gov or hedge against inflation. The better run your economy, the less appealing BTC is. In countries with crappy economies, junk currency, and oppressive governments it's not the worst place to put your money.

Right. Putin aligned oligarchs (and probably Putin himself), drug cartels, the Iranian regime/Hamas/Hezbollah, and Von mises obsessed YouTube addicts are probably all very active hiding their money with BTC.

Make money, lose money, it doesn’t matter to me. One day it will come crumbling down. Will BTC be valued at 1M the day before? 50k? I have no idea. But the risks are future technology and future regulation.

The biggest glaring problem is that BTC price is being pumped by a bunch of futurists like Saylor that can imagine all the ways BTC will take over the world but can’t for a second imagine any of the future scenarios where BTC becomes obsolete or regulated into the ground. For that reason, Saylor, et al’s enthusiasm and hype seems inauthentic and geared toward enriching themselves. And plenty of crypto bros are happy to oblige. The whole rhetoric for bitcoin is that it’s a sure thing, it’s only going to go up, and everyone who doesn’t agree is an idiot. And when you see that, objective rational people should see nothing but red flags.

[Anonymous]

Anonymous wrote:I don't see why people have a hard time grasping why btc has value. It's an international digital currency that circumvents the world's financial system and is inflation proof. Those two things are very valuable depending on where you live. Maybe Americans have a hard time understanding since they have less of a need to hide money from their gov or hedge against inflation. The better run your economy, the less appealing BTC is. In countries with crappy economies, junk currency, and oppressive governments it's not the worst place to put your money.

How does that explain the massive bull in crypto in the last few months, and the last few weeks in particular? Those factors have been around for a long time.

I am agnostic about crypto. Don't have any but not weeping either as I have plenty of investments elsewhere doing very well, thank you AI. But the wild swings in crypto seems far more related to American investor sentiments than anything global and that makes me pause about crypto as a global asset.

[Anonymous]

I am convinced the American economy is the best in the world. We are shtting on everyone else. We are so rich we have time to pump up “cumelomuskfloppydickcoin” to the moon and I am here for it. I need money, btches!!! I mean sure I’ve got stupid safe bets like rental properties, but there ain’t nothing like logging in to your CoinMarketCap app and seeing fking 55% of growth in one hour!!!! Fk!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
I use my play money on crypto. I'm 100% fine with losing ALL of it.

This is my attitude.

No, my students aren’t talking about it yet. Once we get celebs and TikTok involved that’s when the hype climbs dramatically. We are not there yet.
I started mining crypto 8 years ago. I have no investments except time, electricity and PC parts. I’ve only made $10k but basically risk free. Not really planning to invest any new money. Just trading what I have for fun. Made a few grand on Shiba Inu a few years ago. Pure hype. All crap.

We're you in a coma for the last 3 years?! Larry David and Matt Damon shilled crypto to boomers and Gen X at the Super Bowl last year.

Twitter, YouTube, and Tiktok are overrun with crypto scammers.

That was the time to sell. Not to buy.

Honestly, I’m amazed crypto has come back. It’s here because the US and the world haven’t implemented any solid regulations. So it’s back for another “bull run”. I thought it was cooked after all those idiots lost their hats in like early 2022, but here we are. I mean I bought some. I didn’t panic sell. I just played around with extra money. Now it’s all rising again. Ha ha it’s just weird. I still have a hard time taking anyone seriously who like truly invests tons in alt coins of questionable repute. Bitcoin though. I’m convinced this thing is here to stay. The whole world is buying it. Anyway, here we are.

Eh, don't think so. There are number of environmental factors that have led to the surge, but two quasi-regulatory things stand out: 1) In December U.S. GAAP changed to allow for fair valuing crypto on the balance sheet instead of lower of cost or market (the most disadvantaged accounting treatment) and 2) SEC approved crypto ETFs.

[Anonymous]

Most of the world’s economies are suffering with other currencies dropping in value relative to the dollar. Huge inflationary pressure in most countries with no easy way for people access stock markets like we have in the U.S. crypto is easy for these people and apps to get into. Bitcoin kiosks are all over the world now. People are feeling FOMO and diving back in.