[theluckycountry]

Doge coin has reached a new (buying opportunity lol) it's death by a thousand dips for that dog. All of them are tanking still, following the general stock market, which was the exact opposite of the expected behavior!

All the assumptions about the crypto's are proving false, just like the assumption the .coms back in 1990's were growth stocks. It turned out they were cyclical stocks, no different than Coke or Caterpillar and deserving of no greater PE ratios. I imagine Tesla will turn out to be the same, if it survives this decade in face of all the other "Quality" EV's flooding the market.

Bitcoin came back last time due to demand with no competition. Now there are thousands of competition out there. Why should it exceed it's last highs? There is only a limited demand for the garbage coins anyway. I only know one guy invested in them and he's a serial loser when it comes to investments.

[theluckycountry]

Dear oh deer oh Deer, the Great Crypto Crash of 2022 continues apace.

Shitcoin tanks over the weekend to settle out around $23,000. It was $65,000 back in November, what a train wreck! And dogecoin, Elon Musk's preferred digital store of value is down from it's high of 70 cents to 5 cents. The whole crypto scene and all the ancillary brokerages and futures contract structures that settled on it like so many parasites is imploding.

Whatever autonomy, or supposed autonomy these 'nothing' assets had was swallowed by the Wall street money munchers long ago. They are just like the stock market now, which as of today is Crashing too.

I saw the price of Gold yesterday (Monday in Australia) had jumped Au$100, the chart looked like a NASA launch frankly. In response I flew down to the city and grabbed another 5 ounces with some cash I had been siphoning out of a bank account. It may seem silly to many here, but I actually don't trust banks anymore. The price of Gold is certainly not correlated to the crypto/stock complex.

[theluckycountry]

They'll call it Black Monday, Monday the 13th is it keeps collapsing
.

[randomguyonabike]

$this->bbcode_second_pass_quote('theluckycountry', 'T')hey'll call it Black Monday, Monday the 13th is it keeps collapsing
.

[vtsnowedin]

Like Warren Buffet said. "Rat poison".

[careinke]

I've got limit buy orders in for BTC at $20,000 and $18,000.

BTC is an asset like property according to the IRS, The dollar is debt according to the Federal Reserve. I'd rather own assets than debt.

Peace

[PeakOilFanatic]

$this->bbcode_second_pass_quote('careinke', 'I')'ve got limit buy orders in for BTC at $20,000 and $18,000.

BTC is an asset like property according to the IRS, The dollar is debt according to the Federal Reserve. I'd rather own assets than debt.

Peace

[Plantagenet]

$this->bbcode_second_pass_quote('PeakOilFanatic', '')$this->bbcode_second_pass_quote('careinke', 'I')'ve got limit buy orders in for BTC at $20,000 and $18,000.

BTC is an asset like property according to the IRS, The dollar is debt according to the Federal Reserve. I'd rather own assets than debt.

Peace

[theluckycountry]

I'm no trader, and I don't base my decisions on the opinion of the ATO (IRS) But it looks like the token is ready to blow through 20k. The thing is these digital inventions have no history outside of the last 10 years, nothing to go by except the action after it's big 2017 crash. If it was oil or gold or soy beans you could make some logical inferences as to it's future, even in a totally manipulated marketplace like we have the basics floors for commodities still hold. The tokens have no floor though and if people decide they want to move on and place their gambles elsewhere there is no lower limit for them.

As I say, I think their run is over, the market is saturated with them and even the cheap ones have proved to be unstable and are crashing. There will be another big bull market this decade, there always is, but it wont be in digital coins. Probably in military stocks.

[vtsnowedin]

The dollar is debt!??
Well perhaps if it is on the debit side of your spreadsheet.
But if it is on the positive side then you can use dollars to buy assets from land to gold, gasoline, food ,sex and drugs and rock and roll.
I think that makes it one of the best assets there is.
Crypto currencies on the other hand ? Not so much!

[theluckycountry]

$this->bbcode_second_pass_quote('PeakOilFanatic', '
')
https://www.youtube.com/watch?v=lQfSAGTAUF8

[theluckycountry]

$this->bbcode_second_pass_quote('vtsnowedin', 'T')he dollar is debt!??
Well perhaps if it is on the debit side of your spreadsheet.

[vtsnowedin]

$this->bbcode_second_pass_quote('theluckycountry', '')$this->bbcode_second_pass_quote('vtsnowedin', 'T')he dollar is debt!??
Well perhaps if it is on the debit side of your spreadsheet.

[theluckycountry]

$this->bbcode_second_pass_quote('vtsnowedin', '
')
I can't imagine being stupid enough to buy a highly speculative instrument on credit.
In fact I wonder why it is even legal to do so given the disastrous history of the practice.

[theluckycountry]

https://banyanhill.com/3-96-billion-margin-call/

Jun 13, 2022
MicroStrategy’s Michael Saylor was one of the biggest advocates of bitcoin as it rose and rose throughout 2020 and 2021. His software company started acquiring the cryptocurrency as a Treasury reserve asset, presuming it might be a more stable store of wealth than their dollar-based assets. It wasn’t, and now Michael Saylor is just a few bad trading days away from a $3.96 billion margin call...

...So, what’s the blowback? Well, MicroStrategy could take a huge hit selling bitcoin at these prices. But they’re also enough of a “whale” that they could drive prices down by selling — further reducing the value of their remaining assets and tanking bitcoin’s price.

[vtsnowedin]

$this->bbcode_second_pass_quote('theluckycountry', '')$this->bbcode_second_pass_quote('vtsnowedin', '
')
I can't imagine being stupid enough to buy a highly speculative instrument on credit.
In fact I wonder why it is even legal to do so given the disastrous history of the practice.

[theluckycountry]

A Bitcoin funded holiday

[careinke]

$this->bbcode_second_pass_quote('vtsnowedin', 'T')he dollar is debt!??
Well perhaps if it is on the debit side of your spreadsheet.
But if it is on the positive side then you can use dollars to buy assets from land to gold, gasoline, food ,sex and drugs and rock and roll.
I think that makes it one of the best assets there is.
Crypto currencies on the other hand ? Not so much!

[vtsnowedin]

$this->bbcode_second_pass_quote('careinke', '')$this->bbcode_second_pass_quote('vtsnowedin', 'T')he dollar is debt!??
Well perhaps if it is on the debit side of your spreadsheet.
But if it is on the positive side then you can use dollars to buy assets from land to gold, gasoline, food ,sex and drugs and rock and roll.
I think that makes it one of the best assets there is.
Crypto currencies on the other hand ? Not so much!

[theluckycountry]

$this->bbcode_second_pass_quote('vtsnowedin', 'A')nd a bank does not just create money out of thin air to lend it to a borrower.