スコットランド
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Post by スコットランド on May 11, 2022 19:41:26 GMT
Diamond hands, ecosse, Diamond hands. Haha, I’m only slightly down on crypto overall so I’m gonna hodl. Stock market is another story , I’m a shit investor , too emotional  |
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Post by Resident Knievel on May 11, 2022 22:01:21 GMT
This is why you take some profit whilst you have some /o\
Writing has been on the wall since the US Fed announced they'd ease off on juicing the markets, inflation started creeping up and interest rates started getting raised.
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Post by Resident Knievel on May 11, 2022 22:02:31 GMT
So, this is when I should probably think about taking profit on my Cardono, now they're up 1230% but I'll sit on them and regret not selling when the next dump comes along. Am I doing this right? |
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スコットランド
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Delicious gruel
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Post by スコットランド on May 11, 2022 22:19:19 GMT
So, this is when I should probably think about taking profit on my Cardono, now they're up 1230% but I'll sit on them and regret not selling when the next dump comes along. Am I doing this right? I know myself at least! |
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Post by Resident Knievel on May 12, 2022 7:12:14 GMT
Tether usd is starting to become untethered, if that goes everything does.
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Post by GigaChad Sigma. on May 12, 2022 7:22:38 GMT
Coinbase issuing tweets like "Your funds are safe" would do nothing to allay my fears if I was deep into crypto.
Especially as all those billions are gone if it falls over as "investors" are actually 'unsecured creditors'
In the first quarter of 2022, Coinbase posted a loss of $430 million but the CEO got himself a nice 130 million dollar mansion.
Decentralized finance, the future.
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Post by elstoof on May 12, 2022 7:59:01 GMT
A better investment would be hiding gold nuggets in your shoes
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Bongo Heracles
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Post by Bongo Heracles on May 12, 2022 8:52:15 GMT
Anything that can make you a millionaire in a week can also put you in the poor house overnight, I suppose. Its pretty much like buying lottery tickets except rather than numbers, its a few dozen billionaires deciding whether or not to bankrupt you.
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Post by Chopsen on May 12, 2022 9:23:35 GMT
A better investment would be hiding gold nuggets in your shoes
Always shoes with you eh?
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Post by brokenkey on May 12, 2022 10:11:26 GMT
Tether usd is starting to become untethered, if that goes everything does. Tether? Not UST? |
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Post by GigaChad Sigma. on May 12, 2022 10:27:33 GMT
Seeing people "buying the dip" on Luna.
People buying as it plummets $90 $35 $2 etc.
Except its not a dip, its done. Currently 5 cents.
Here's the founder BTW.
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スコットランド
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Delicious gruel
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Post by スコットランド on May 12, 2022 10:43:06 GMT
At least I didn't buy Luna, I feel like Warren Buffet in comparison.
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Post by Chopsen on May 12, 2022 11:07:11 GMT
It's quite bad for people who are getting wiped out by this but at the same time.....meh. You fuckwits. I remember some guy on reddit going on about how he insisted on being paid as an IT contractor in entirely in crypto. Wonder how he's doing.
The problem has always been that there are crypto whales who own a large amount of coins by value who were just sitting on them, and nobody knew who they are or what they're likely to do. Are they activists who are going to dump their stake as soon as things go south or are they just long forgotten private keys on a hard drive in some landfill somewhere? Most of the volatility was driven by quite small trades.
Once those with big stakes start offloading (as looks like is happening) WEEEEEEEEEEEEEEEEEEEEEEEEEEE.
Decentralised fiance my arse.
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Post by Chopsen on May 12, 2022 11:09:16 GMT
Also, a lot of the whales will have got in on the ground floor. It's the gullible pricks who though they could ride it to the moon who are being fried.
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sport✅
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Post by sport✅ on May 12, 2022 11:10:06 GMT
Tempted by 1000 LUNA for $69
nice!
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Post by GigaChad Sigma. on May 12, 2022 11:13:40 GMT
Its incredible how people flock to these founders like prophets.
Jack Dorsey is a prime example. Sure he's a clever guy, wrote some decent code and had an idea that took off.
That doesn't qualify him to be an absolute authority on financial products and services. Yet there he is on these absurd videos talking about decentralised finance.
It's insane.
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dogbot
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Post by dogbot on May 12, 2022 11:15:10 GMT
Tempted by 1000 LUNA for $69 nice! "Thank you for your purchase. Your 1000 LUNA are now worth $0.69". |
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sport✅
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Post by sport✅ on May 12, 2022 11:18:18 GMT
Tempted by 1000 LUNA for $69 nice! "Thank you for your purchase. Your 1000 LUNA are now worth $0.69". But if it dives from $69 to $4.20, I screenshot that shit for epic reddit karma!!! |
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Bongo Heracles
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Post by Bongo Heracles on May 12, 2022 11:20:04 GMT
It's quite bad for people who are getting wiped out by this but at the same time.....meh. You fuckwits. I remember some guy on reddit going on about how he insisted on being paid as an IT contractor in entirely in crypto. Wonder how he's doing. The problem has always been that there are crypto whales who own a large amount of coins by value who were just sitting on them, and nobody knew who they are or what they're likely to do. Are they activists who are going to dump their stake as soon as things go south or are they just long forgotten private keys on a hard drive in some landfill somewhere? Most of the volatility was driven by quite small trades. Once those with big stakes start offloading (as looks like is happening) WEEEEEEEEEEEEEEEEEEEEEEEEEEE. Decentralised fiance my arse. Not just that, they are completely open to what would normally be criminal abuse. Apparently the guy in the above video was warned that he needed 1b liquidity or luna would be open to someone deliberately crashing its value. The galaxy brains handwaved this away as FUD. Then, obviously, someone intentionally crashed the value of Luna. Like you say, its the bedroom traders who always lose their shirts on this because rich people decided to fuck them over and its so laughably easy to do because everyone in that space is either a shark or an idiot. |
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dogbot
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Post by dogbot on May 12, 2022 11:24:31 GMT
"Thank you for your purchase. Your 1000 LUNA are now worth $0.69". But if it dives from $69 to $4.20, I screenshot that shit for epic reddit karma!!! True and totally worth it. |
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Post by Resident Knievel on May 12, 2022 11:51:03 GMT
Tether usd is starting to become untethered, if that goes everything does. Tether? Not UST? Yep, tether, it dropped to 0.96 dollars per tether this morning, before stabilizing. I've closed my short position on bitcoin and I'm not touching crypto with a barge pole if tether is looking shaky. |
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Post by Chopsen on May 12, 2022 12:07:18 GMT
The FT have this live data tracker thing for crypto I just found.
While there is a sell off across the board, good old vanilla BTC is not too shabby compared to longer term valuations from say 2020.
However, 0.01% of wallets hold ~45% of the market by value. Whew!
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Post by Resident Knievel on May 12, 2022 12:16:58 GMT
Bu-but crypto was meant to take power away from fat cats!
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cubby
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Post by cubby on May 12, 2022 12:20:59 GMT
Just went to the bureau de change to cash in my bit coins and they wouldn't accept them, should I try the McColls to see if they can give me some change for them?
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Post by elstoof on May 12, 2022 12:21:41 GMT
How many bitcoins do I need for my Tesla now
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Bongo Heracles
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Post by Bongo Heracles on May 12, 2022 12:41:03 GMT
However, 0.01% of wallets hold ~45% of the market by value. Whew! This has always been the problem with bitcoin from the start. So much of it is owned by so few people that it will take literally two or three people saying 'fuck this' to crash the entire market which will, at some point, happen and the tier below those guys are one of the reasons the market is so volatile. And because its not really a currency, you cant really do much with it other than pay for drugs, most people buy it and sit on it so it doesnt really move or go anywhere. Its like buying a pokemon card. So if people decide its worthless, its worthless. And its the same for the new coins. A ton get sold to investors and celebrity shills before the doors get opened to the plebs so, again, an investor can crash the coin by checking out. Its so fucking stupid. |
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JYM60
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Post by JYM60 on May 12, 2022 12:46:59 GMT
Anything to do with 'investing' is dodgy and controlled by crooks. The apparent richest man in the world has made his money off the back of absolute nonsense mostly. How many people have Teslas? Not many  |
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スコットランド
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Post by スコットランド on May 12, 2022 13:02:24 GMT
Anything to do with 'investing' is dodgy and controlled by crooks. The apparent richest man in the world has made his money off the back of absolute nonsense mostly. How many people have Teslas? Not many Yep, it's ridiculous. |
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Post by Chopsen on May 12, 2022 13:07:26 GMT
Tesla P/E ratio has been in the thousands, and it is relatively more sane these days than in that photo.
Apparently it's market cap is a (checks notes) mere 815.45bn which is more respectable. Relatively.
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Bongo Heracles
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Post by Bongo Heracles on May 12, 2022 13:11:25 GMT
It makes more sense when you frame it as, as a wiser person than me once said, the stock market being just a reflection of rich peoples feelings.
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