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Bitcoin & crypto? Pt. 3

Discussions about the economic and financial ramifications of PEAK OIL
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Re: Bitcoin & crypto? Pt. 3

Unread postby theluckycountry » Sun 02 Feb 2025, 00:46:05

There is always the chance of winning the lottery and being set up for life, that's why people buy tickets every week. Someone has to win it. Of course the vast majority don't, or at best get a little payout here and there. It is their money coming in weekly that allows the odd person to walk away rich. The secret to crypto was, like any Ponzi, to get in early when the coins were next to worthless. All that takes is a belief in the thing and to be one of the few that discover it early. Similar to a Gold prospector.

There is nothing praiseworthy in this, it was mostly just dumb luck and the chances the person could replicate the win would be very long odds. If they are an average winner they'll take their big win and then invest it in more conventional assets, as your son did.

It seems the faithful are not happy with Trump's about face on the BC reserve. He's not keeping his election promise :x He's stalling, changing the meme on them. This was not supposed to happen! BC is supposed to go to the Moon! Bid up in price by the latest "demand" the United States Federal Government itself.

But trump has bigger fish to fry, more important people to satisfy.

The United States conducted the first major combat operation abroad in Trump's new term
$this->bbcode_second_pass_quote('', 'O')n Saturday, Trump said he had ordered airstrikes on targets in Somalia, where the terrorists were located, also indicated that civilians were not injured as a result of these attacks. According to the American leader, as a result of the strikes, "many terrorists" were eliminated without harming civilians.

"President Trump ordered airstrikes on Saturday in northern Somalia, the first major US military operation abroad since he took office," According to the newspaper, the strikes were carried out, among others, by F/A-18 fighters from the aircraft carrier Harry S. Truman in The Red Sea.
https://eadaily.com/en/news/2025/02/02/ ... s-new-term

So the $$$ continue to roll into the military industrial complex. I know I know, it's small potatoes, but assume that by the end of 2025 the US will be involved in a major campaign somewhere on the Planet. These big corporate blocks demand their revenues, the Banks, Pharma and the military.

$this->bbcode_second_pass_quote('', 'B')reaking!
US lawmakers received over 3000 letters demanding a Bitcoin reserve this week. They want BTC on America's balance sheet.
https://www.reddit.com/r/Bitcoin/commen ... t_is_time/

Not a good start for the year...
We're 17 years past the peak now and the 3rd World is going hungry and dark. We'll be next, we're well on the way in fact.
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Re: Bitcoin & crypto? Pt. 3

Unread postby EnergyUnlimited » Sun 02 Feb 2025, 06:36:44

$this->bbcode_second_pass_quote('theluckycountry', 'T')here is always the chance of winning the lottery and being set up for life, that's why people buy tickets every week. Someone has to win it. Of course the vast majority don't, or at best get a little payout here and there.

You cannot compare it to lottery. It was countless trades executed on daily basis what have built my son's money.
Hard work for more than a year 24/7/365. Sometimes say 0.2 - 2 % win, sometimes comparable loss. But wins were statistically more common than losses and within this year he made more money than many people in America are making within entire working life.
Though he was badly battered at the end and quite happy once decided to quit and take out profits.
He is now much happier in banking where he trades other's people money (his grandma from Malaysia advertised him to her banker friends and now he co-runs investment fund).
His pay and commission is pretty good and will only get better - subjected to performance.
Sometimes he explains me details of working of financial machinery and I find it impressive, even it is increasingly a zero sum game.
But it is nothing like lottery, believe me. Ultimately it is game between fund managers on a global scale.

$this->bbcode_second_pass_quote('', ' ')The secret to crypto was, like any Ponzi, to get in early when the coins were next to worthless. All that takes is a belief in the thing and to be one of the few that discover it early. Similar to a Gold prospector.

He started his trades in 2017 when BTC was worth around $3000-4000 and was trading on Bitrex, Binance, Bitfinex and Bitbay platforms.
My explanation of his success is that he was gaming against CRETINS - inexperienced and often not very bright but very greedy people who found trading crypto as an entry to world of investment. Most of them lost, few won and my son was between those who won.
But it was skill related and certainly not a lottery.
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Re: Bitcoin & crypto? Pt. 3

Unread postby theluckycountry » Sun 02 Feb 2025, 17:57:23

$this->bbcode_second_pass_quote('EnergyUnlimited', '
')He started his trades in 2017 when BTC was worth around $3000-4000 and was trading on Bitrex, Binance, Bitfinex and Bitbay platforms.


Well there are always alternative ways of looking at something. I would say it's almost impossible to lose if your trading in a rising market. And if the market tanks, and you are able to hold your positions, and the corporations etc don't go bankrupt, then one day the market will rise again won't it. Sometimes that may take 20 years, as in the Great Depression, and sometimes if it's a novelty trade, like tulip bulbs, it never comes back.

You're proud of your son, what father isn't. We'll leave it at that.
We're 17 years past the peak now and the 3rd World is going hungry and dark. We'll be next, we're well on the way in fact.
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Re: Bitcoin & crypto? Pt. 3

Unread postby theluckycountry » Sun 02 Feb 2025, 18:01:36

Remember the memes Inke, Just remember the memes.

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Re: Bitcoin & crypto? Pt. 3

Unread postby theluckycountry » Thu 06 Feb 2025, 04:39:24

I think there a suicide watch over on the reddit dogecoin sub. It topped out at 48 cents back in August last year, collapsed twice to around 30c, had a 41c top middle of last month and is now back down to 25c. All this while their savior Musk was prominant in the public eye with the Federal DOGE business. Millions of little doge investors, sitting on the efge of their seats just they have been for years. What a mind fuck! But since it's mostly gamers and burger flippers, so what.

The all time high was 73-cents in May 2021. It was worthless, a "joke coin" up until Elon Muck said he's taken a position in it. And that tells you all you need to know about Tesla and the other outfits he runs. I personally knew a guy who took a big stake when it was north of 60 cents. But was a serial loser, so I wasn't surprised when it tanked. How many hundreds of billions of hard earned money have been flushed down the toilet on all this crap? Digital nothings invented at the end of biggest financial bubble the World has ever know. And what happened to those digital pictures people were paying 20 and 50 and 100,000 dollars for? I can't even remember what they were called now but that all blew up just like all the EV makers blew up and took a mass of retirement savings down with them.

Funny World, Funny People...
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Re: Bitcoin & crypto? Pt. 3

Unread postby theluckycountry » Thu 06 Feb 2025, 18:16:08

The top posts on the Doge subreddit, where over 2 million people are registered.

$this->bbcode_second_pass_quote('', 'E')lon corrupted Doge
I have been here since the beginning. I have seen many cycles and many things come and go. I have seen the promise of this community and I have supported many of the causes. Out of all of them my favorite was Josh Wise.
When Elon first got involved I was excited. Over the past couple years that excitement has turned sour. I have decided that I cannot morally be involved with any thing related to that sub human. It has been a wild ride fellow Shibes! I wish you all good fortune ! With that I am out with 1 final
Such Wow! Very Coin!
1000 comments follow

$this->bbcode_second_pass_quote('', '
') I’m selling. It’s over.
Sorry guys I just can’t support what DOGE is being used to push I tried to hold but being attached to musk makes me feel disgusting. It’s real people.

So much pain, broken dreams, popped balloons. So many years and so much emotional and mental investment all down the drain. One poster made a comment on Blockbuster Video, and how streaming destroyed that business model. How much mom and pop capital went down the drain on that one company alone?

What I'm saying basically is that this business of the "Average Man" or woman, taking their earnings and investing into stocks or other "clearly" volatile markets is wrong and always has been. And it's really only a modern phenomena. If you look at the stock market of the 1920's only a very small percentage of the population was invested in it. Today, everyone is invested, at least everyone with a private pension account. Then we have all these day traders types, and you can toss all the crypto buyers into that category too since they don't buy and relax but are constantly at their phone checking the app for the latest action. Life shouldn't be this way, not at all. It puts a sharp edge to it and detracts from long term peace of mind. How many people fear a repeat of the GFC? Many I'll tell you that because down here many are cashing in big chunks of their retirement accounts to buy houses and help the kids and get medical procedures done that are not essential. Anything but leave it all in the stockmarket.

lately I have checked the crypto price on a daily basis too, but I have no money there, and no mental or emotional investment. It's a curiosity to me and no more important than when I look at the outdoor thermometer reading. Actually I have more of a stake in that because it can effect my decision to mow the lawn or take a bike ride. So much of what the average person today has been led to believe is simply false! Filling up a cart at wallmart with soda and chips and cheap Chinese crap is not smart or thrifty, it's just a way to poison yourself and destroy your local community while you help a single family grown immeasurably rich.

I challenge most things that are commonly accepted on this forum because it's all bullshit, and because it's all easily avoided! There is no need to retire in relative poverty, no need to spend the last years of your life munching overpriced pharmaceuticals that in fact make many people sick and lead to early death. The evidence for all this is clearly available to anyone willing to look, but like the Matrix, people are seemingly happy in their pods waiting to be liquefied and fed to the next generation. Not free at all, not while they engage in all these BS modern practices.

Digital investing, gambling, with their hard earned wages.
Facebook and other social media in exchange for actual relationships with real people, neighbors.
TV watching, filling your head with political lies, degenerate shows and endless advertising
Sedentary lifestyles, a walk around the block at most, pointless at best.
Consumption of fast food and other non-foods.
The wasting of savings and taking on debt to buy the latest car or add "value" to your home like on TV

The list is endless and in nearly all cases the end result is dissatisfaction and the transfer of your wealth to others who wouldn't invite you in their front door. Here I see people spending hundreds of thousands (debt or retirement funds) on makeovers of their homes. Just like they were trained to do by dozens of popular TV shows. They don't even realize they have been gaslighted, yes, made to feel inadequate that their home isn't up to scratch. In the end they throw a party for their friends and everyone praises them on the new deck or other living spaces then go their ways leaving the home-improver 3 months later juggling debt payments and feeling flat because the "New" effect has worn off and they still living in an old home with a veneer of modern nailed onto it.
We're 17 years past the peak now and the 3rd World is going hungry and dark. We'll be next, we're well on the way in fact.
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Re: Bitcoin & crypto? Pt. 3

Unread postby theluckycountry » Fri 21 Feb 2025, 14:55:45

Bitcoin, Ether Tumble As Bybit Exchange Confirms Massive $1.4 Billion Hack

Hodlers talk about cold wallets but most keep their crypto on exchanges so they can easily trade them. Laziness basically i assume. But every now and then, it all goes sideways, and the pigeons fly off in all directions. When it comes to your money security is paramount but there just seems to be no conclusive way to protect this crypto once it's online.
$this->bbcode_second_pass_quote('', '
')The sudden downturn liquidated roughly $100 million worth of leveraged derivatives trading positions, overwhelmingly longs anticipating prices to rise, CoinGlass data shows. The CEO said the specific transaction was masked to appear legitimate but contained malicious source code designed to alter the smart contract logic of the wallet and siphon funds. Zhou reassured customers:

“Please rest assured that all other cold wallets are secure. All withdrawals are NORMAL. I will keep you guys posted as more develops. If any team can help us to track the stolen fund will be appreciated.”

The incident follows several high-profile hacks and security incidents throughout 2024 and early 2025 that left crypto exchanges drained of funds.


Zhou confirmed that a transfer was made from the exchange’s multisignature wallet to a warm wallet approximately one hour prior. That's Crypto Mumbo Jumbo, the industry is full of it. It markets itself as super Hi Tech algorithm blah blah but it's just random numbers stuffed on a HDD and suppository encrypted and safe. The analogy with the wallet is like, You take a wallet, stuff thousands of dollars into it, then leave it under a drink machine in an office on the other side of the World. Safe as houses :roll:
We're 17 years past the peak now and the 3rd World is going hungry and dark. We'll be next, we're well on the way in fact.
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Re: Bitcoin & crypto? Pt. 3

Unread postby theluckycountry » Tue 25 Feb 2025, 07:01:07

$88,000.
The crypto market has suffered a major setback today, with the global market cap plummeting by 4.90% to $2.99 trillion.

$this->bbcode_second_pass_quote('', 'M')arket sentiment was rattled by former U.S. President Donald Trump’s statement that import tariffs on Canada and Mexico will move forward. The 30-day pause on tariffs is set to expire soon, adding to global economic uncertainties. Following this, the market also witnessed over $914 million worth of positions being liquidated in 24 hours. As a result, investors now fear potential ripple effects on financial markets, with crypto being among the hardest hit.


But crypto is insurance against global economic uncertainties? The White papers said so?
It seems Fear is in the driver's seat now. All the Trump gains have been wiped off the board. Uncharted waters
$87 now.

Image


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Re: Bitcoin & crypto? Pt. 3

Unread postby theluckycountry » Tue 25 Feb 2025, 14:04:15

Well it's sitting at 87k, 12k down from the last high and that's a typical drop so I'd expect BC to rally from here and make another lower top. Of course that's just BS jerk something out of your back pocket analysis, which is all they do on the "expert" sites. When it comes to paper markets that are highly leveraged, highly manipulated, highly derivatized, you really do need a crystal ball :P
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Re: Bitcoin & crypto? Pt. 3

Unread postby careinke » Tue 25 Feb 2025, 18:32:14

$this->bbcode_second_pass_quote('theluckycountry', 'W')ell it's sitting at 87k, 12k down from the last high and that's a typical drop so I'd expect BC to rally from here and make another lower top. Of course that's just BS jerk something out of your back pocket analysis, which is all they do on the "expert" sites. When it comes to paper markets that are highly leveraged, highly manipulated, highly derivatized, you really do need a crystal ball :P


A crystal ball would be nice. :-D :-D

I filled a limit buy order last night for $90,048.00, guessing the huge $90,000.00 buy wall would hold. I suck at picking exact bottoms. :oops:

On the other hand, I finally downloaded the Robinhood wallet, completed the KYC (Know Your Customer) process, and established that I'm qualified for options and futures trading. That took all of 10 minutes. Now I'm exploring Robinhood's full capabilities, and so far, I'm impressed. I believe it is only available in the U.S. My primary reason for using it was to be able to trade stocks as well as crypto, including swapping between the two.

Frankly, I've basically ignored stocks over the last 11 years or so, and with rare exceptions, individual stocks have performed poorly compared to BTC.

My first stock purchase was, of course, Tesla for numerous reasons. Primarily, because the Democrats now hate Elon and are diversifying out of Tesla, bringing the price down. I'm hoping this continues until the end of the current BTC cycle in 2026.

Some reasons for buying Tesla during its slump:

1. GROK-3 is by far the best AI currently available, bar none. It even checks itself to ensure its information is correct.

2. The self-driving features on its cyborg vehicles are amazing. (Can your automatic cruise control heed the directions given by flagmen on the road???)

3. Robots that can operate autonomously.

4. Large-capacity backup power.

5.Viable solar power.

Oh look, Tesla is down even more today, and one of my retirement payments arrived this morning! Got to go buy some more.

Peace
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Re: Bitcoin & crypto? Pt. 3

Unread postby theluckycountry » Wed 26 Feb 2025, 19:13:11

$this->bbcode_second_pass_quote('careinke', '')$this->bbcode_second_pass_quote('theluckycountry', 'W')ell it's sitting at 87k, 12k down from the last high and that's a typical drop so I'd expect BC to rally from here and make another lower top.


A crystal ball would be nice. :-D :-D

I filled a limit buy order last night for $90,048.00, guessing the huge $90,000.00 buy wall would hold. I suck at picking exact bottoms. :oops:


Yes you're no better than me! I was out by $5000. $82.5k, that's a fall from grace, the biggest drop of this bull market. Recovering now though, we hope... I hope for your sake it makes another big top, like the 2021 pair of tops. Not just for you either, I like it when all these things go up (oddly enough). Even though I'm not financially invested in them, I'm socially invested in them. When markets climb society is more stable, here at least. people have confidence and spend more, it all flows on to a better society. The opposite happens when markets tank. I was still working when the GFC struck and although I was forewarned and well prepared financially I lost clients because they lost their jobs and many saw their income from private pensions cut by half. That wouldn't effect me now but I'm sure there will be an uptick in crime if things go sour.
We're 17 years past the peak now and the 3rd World is going hungry and dark. We'll be next, we're well on the way in fact.
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Re: Bitcoin & crypto? Pt. 3

Unread postby Newfie » Fri 28 Feb 2025, 14:58:53

Careinke,

I recently read about North Korea “stealing” some large about of crypto, not BTC. 1-1/2 Billion.

Did that shake you at all?
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Re: Bitcoin & crypto? Pt. 3

Unread postby careinke » Sat 01 Mar 2025, 04:01:47

$this->bbcode_second_pass_quote('Newfie', 'C')areinke,

I recently read about North Korea “stealing” some large about of crypto, not BTC. 1-1/2 Billion.

Did that shake you at all?
nce

The crypto was Ethereum, and it was stolen from the Bybit exchange. The Bybit President was the last person to approve the sale and admits his negligence. The hackers were a known North Koreon govt group. Bybit has already restored the missing funds to the account holders. Anyway strong OpSec lessons learned from the incident. I'm pretty sure it was the largest single heist ever in dollar terms.

I bailed out of Eth over a year ago when it became apparent SOL was going to be the "Eth Killer." So no, I wasn't really affected, other than admire how Bybit handled the situation. The white Hats are all over this, and NK will have a hard time converting the ETH to any other Crypto, much less Fiat.

As this is my third BTC cycle, I'm pretty confident of this one even with closing this Feb with the biggest loss for BTC ever in Feb at -32%. During the prior cycles we averaged over 7 pullbacks over 32% on each cycle during, the Bull phases. So, this was expected. Some of old guard are saying this may be the last cycle, due to a very favorable U.S. stance on BTC and crypto in general, especially with the ETFs, and Multiple States passing legislation for state strategic reserves. My plays are the same in any case.

As a side but related note, it appears we have misplaced/lost the BTC keys of our confiscated/stolen Bitcoin. During the transition, Biden ordered the U.S. to sell all the BTC Trump was planning to use for our BTC reserve along with spending as much of the budget as possible. But the BTC was never sold, as proven by the Blockchain.

Evidently, the Federal Marshels were in charge of holding the BTC keys and they seem to be missing! Unfortunately for the U.S., if they don't have the keys, they don't own the BTC. For me, and every other Bitcoin holder it's like a dividend, we now own a larger percentage of the available Bitcoin.

We live in interesting times...

Peace,

P.S. My wife's oldest brother passed away painlessly two days ago thanks to liquid morphine administered orally. He will be missed. Two down, one maybe two to go.
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Re: Bitcoin & crypto? Pt. 3

Unread postby theluckycountry » Mon 03 Mar 2025, 23:51:45

Well that was the quickest bull and bear I think I've ever seen 8O
85~95~84 in a single day. That's volatility, reminded me of the Nvidea stock collapse after DeepSeek was in play.
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Re: Bitcoin & crypto? Pt. 3

Unread postby careinke » Tue 04 Mar 2025, 04:14:24

$this->bbcode_second_pass_quote('theluckycountry', 'W')ell that was the quickest bull and bear I think I've ever seen 8O
85~95~84 in a single day. That's volatility, reminded me of the Nvidea stock collapse after DeepSeek was in play.


If you get a candle with a movement over $10K within a 24-hr. period, the traders call it a GOD Candle, just a name, nothing to really do with religion. Up until Tuesday, BTC has never had a GOD Candle. Tuesday, we had one up, and today we had one down. Since most of my investments are in Crypto, I got to watch my Crypto wealth go way up, then way down. I did no buying going up or down as I had no dry powder left, I'm using it to build a TSLA stash. BTW the OG's have decided when BTC makes a $100,000.00 move in a 24-hr. period, it will be called an Omega Candle. :)

A long time ago, pre-Bitcoin I watched one of my Pink Sheet Stock holdings (with a lot of shares), Drop 16K in about 3 minutes. Fortunately, it rose back up in the next few minutes. I was still learning how to trade.

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Re: Bitcoin & crypto? Pt. 3

Unread postby theluckycountry » Tue 04 Mar 2025, 20:10:13

$this->bbcode_second_pass_quote('careinke', 'I') did no buying going up or down as I had no dry powder left, I'm using it to build a TSLA stash.

The idea would have been to sell at the top, then buy back when it was 10k lower, I'm sure that's what the whales are doing.
On all things tech, I found this interesting

$this->bbcode_second_pass_quote('', 'I')t’s now common knowledge that DeepSeek’s development was not a product of Silicon Valley labs showered with billions of dollars of research funds. Liang Wenfeng himself revealed it: “I won’t lie, our AI was created on the basis of Soviet developments – the OGAS system of Academician Glushkov.”

So it's not just hypersonic missiles they are ahead of the west in. In the West people just watch TV and TV tells them Russia is stupid and backward and all the rest. But it's actually the opposite, they are killing it in so many fields... Whoops... Huge wind gust just shook the roof! We have a cyclone bearing down on us. Anyway, Russia is now the World leader in Oil and Gas reserves and many minerals, all of them! Food in abundance, you name it, they have it. So it should come as no surprise they are investing in all the futuristic stuff, while at the same time avoiding all the Bullshit, like EV's and money wasting renewables.

Even all the WOKE Queer/non-binary/trans rubbish that has dislocated so much of western culture they have avoided. Even their response to the Scamdemic was different, and their vaccine, Sputnik, was a traditional vaxx not an mRNA one that has caused so many fatalities and injuries in the West. Caused so much contention in the Police, Military etc. The West is like a demented child now, I live in it, and even though Australia doesn't have the worst aspects of the madness, I still keep far from the cities and don't engage in any of the media or politics.
We're 17 years past the peak now and the 3rd World is going hungry and dark. We'll be next, we're well on the way in fact.
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Re: Bitcoin & crypto? Pt. 3

Unread postby theluckycountry » Sun 09 Mar 2025, 19:21:40

Ethereum, it's touted as next in line after bitcoin. It had a peak of $4600 in Nov 2021, a collapse, another peak of $3.9k and another $4000 top back on Dec 7 2024. Since then it has fallen relentlessly and is down to $2000 today. After three and a half years of cruel inflation in everyday prices it sits at less than half what people paid for it back then. What else can you call this but a financial disaster for those who went "all in" believing in the crypto future, the new world, the techno paradise.

Dogecoin, pronounced doughsh coin is down to 17 cents, it's all time high was 73 cents. Talk about a haircut! I prefer to call it dodge coin, because you should dodge it at all costs. Naturally the market leader btc is down as well, most scratching their heads because they thought it would go to the moon with Donald Trump's strategic reserve initiative he has now confirmed. It's all muddy water isn't it, for those swimming in it though it all seems good, it's always a good time to buy crypto, you buy the dip and if it collapses another 20% you buy the new dip, because it always goes up, always exceeds the last high. But Ether-eum didn't, quite the opposite.

Ether was the word they used to refer to the substance between the stars and the planets, to explain how light, a wave, could propagate to the Earth. Everyone believed in the Ether, until it was proved to be a fantasy, a delusion. Then the whole idea was tossed in the garbage can and it's adherents quietly, in embarrassment, went off and hid for a while.

Kids, pretending they understand finance

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Re: Bitcoin & crypto? Pt. 3

Unread postby Newfie » Wed 26 Mar 2025, 20:51:38

Carinke,

What do you think of Trump’s proposal to US Gold reserves to buy Crypto?

What would you think if he bought $Trump?
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Re: Bitcoin & crypto? Pt. 3

Unread postby AdamB » Thu 27 Mar 2025, 22:17:26

$this->bbcode_second_pass_quote('theluckycountry', '
')Kids, pretending they understand finance


Uneducated parrots, pretending to understand peak oil. Or finance.
Plant Thu 27 Jul 2023 "Personally I think the IEA is exactly right when they predict peak oil in the 2020s, especially because it matches my own predictions."

Plant Wed 11 Apr 2007 "I think Deffeyes might have nailed it, and we are just past the overall peak in oil production. (Thanksgiving 2005)"
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Re: Bitcoin & crypto? Pt. 3

Unread postby theluckycountry » Fri 28 Mar 2025, 04:45:32

Oh look!
Someone left the door open.

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We're 17 years past the peak now and the 3rd World is going hungry and dark. We'll be next, we're well on the way in fact.
theluckycountry
Light Sweet Crude
Light Sweet Crude
 
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Joined: Tue 20 Jul 2021, 18:08:48
Location: Australia
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