Cryptocurrency

[Cdub100 3,366]

Just now, GutterBoy said:

Did I say it was a bad investment?  Its not funny that he called for 250 and it's 1?  Stop being such a whiny b!tch.

You called it a Ponzi so yes you have called it a bad investment.

[GutterBoy 2,277]

Just now, Cdub100 said:

You called it a Ponzi so yes you have called it a bad investment.

It is a ponzi, but ponzi schemes work as long as your not the last guy in.

Lighten up sally

[WhiteWonder 2,171]

4 hours ago, iam90sbaby said:

Yeah I was off, I still made a ton of money though so I'm good. I bought in early.

I do still think BTC hits a quarter million, not until the next halving though.

Damn. You gave gutterfinance  the exact response I was hoping you would NOT give, though im not really surprised... The old “I made money so im good” response. 

I say this because you were very much one of the group saying this was going to replace fiat, so you didn’t care about ups and downs as you were HODLing until it replaced the USD.

is that not still the narrative? I suspect it hasn’t been for quite some time now but I do find it comical. 

[Cdub100 3,366]

8 minutes ago, GutterBoy said:

It is a ponzi, but ponzi schemes work as long as your not the last guy in.

Lighten up sally

It gets old watching you clutter up this thread with your stupid post. You are 100% wrong about crypto. You bumping a post from 2017 proves how wrong you are, but you're too focking retarded to understand how dumb you look right now.

Go back to defending pedos. 

[GutterBoy 2,277]

On 6/15/2022 at 9:55 PM, Cdub100 said:

It gets old watching you clutter up this thread with your stupid post. You are 100% wrong about crypto. You bumping a post from 2017 proves how wrong you are, but you're too focking retarded to understand how dumb you look right now.

Go back to defending pedos. 

Even though you're an idiot, I don't want to see you lose all your money in Celsius.

Talked to a friend today who told me that some hedge fund went under, massively leveraged, and that is what is causing the liquidity problem with Celsius.  He was telling me they probably go under this weekend.

He was telling me everyone is clearing their coinbase accounts to be safe.

https://www.wsj.com/articles/celsius-is-crashing-and-crypto-investors-are-spooked-11655371801

[Cdub100 3,366]

5 hours ago, GutterBoy said:

Even though you're an idiot, I don't want to see you lose all your money in Celsius.

Talked to a friend today who told me that some hedge fund went under, massively leveraged, and that is what is causing the liquidity problem with Celsius.  He was telling me they probably go under this weekend.

He was telling me everyone is clearing their coinbase accounts to be safe.

https://www.wsj.com/articles/celsius-is-crashing-and-crypto-investors-are-spooked-11655371801

Celsuis liquidation is at 14k BTC I believe. I'm hopeful we stop crashing and build from here or trade sideways. 

I can wait years because that's my original plan. I can't stomach bankruptcy.

I also need stETH to peg back to ETH.

[Alias Detective 1,179]

🫣

[GutterBoy 2,277]

10k for btc?  Celsius and binance both go under?  This is looking real scary

[Alias Detective 1,179]

44 minutes ago, GutterBoy said:

10k for btc?  Celsius and binance both go under?  This is looking real scary

HODL

[MTSkiBum 1,593]

I need to figure out at what price I want to buy Bitcoin. 

 Should I hold out for 10k or should I look at buying sooner.

I do like the chance of it hitting 50k again, but that is a long way in the future.

[Alias Detective 1,179]

4 minutes ago, MTSkiBum said:

I need to figure out at what price I want to buy Bitcoin. 

 Should I hold out for 10k or should I look at buying sooner.

I do like the chance of it hitting 50k again, but that is a long way in the future.

Ask those who are HODLing where their ultimate bottom is.  That’s where’d I’d buy.

[WhiteWonder 2,171]

10 hours ago, MTSkiBum said:

I need to figure out at what price I want to buy Bitcoin. 

 Should I hold out for 10k or should I look at buying sooner.

I do like the chance of it hitting 50k again, but that is a long way in the future.

Remember though that the two major moves upward in BTC were

1. FOMO from summer 2017 ramped up through EOY. 

2. The renewed craze in the fall of 2020 when many stocks were still rocketing from Covid recovery. (The market had dropped dramatically March 2020 but no sane person thought the covid drop would last). 
 

I am not anti BTC as an investment at the right price, just saying there needs to be a catalyst in place. 
 

going back to 1. You didn’t need to catch any dips, you could have even been decently “late to the party” and made good money. FOMO was evident as early as 2K and could have been ridden to 12K and out even though it went decently higher. 
 

going back to 2. You didn’t need to catch a bottom in March 2020. You could have bought as it was rising (like lots of pandemic beaten down stocks) in April around 8k and, well, held for roughly a year and sold at 55K. I’m using a year even though there’s no long term capital gains tax benefit like there is with stocks. 
 

so for myself, I think I’ll be looking for a bottom followed by a sustained rise before giving it another go. Example, if it dips under 10k but then rises back above and steadily climbs to 12, 14, I might then jump in around 15 feeling confident that next big spike can happen. 

[Scary Gary 19]

It's crazy how many folks are trying to get in front of the media/camera so they can shout "Don't worry folks, Bitcoin is still going to 100K" or "This is nothing more than a buying opportunity".

"Bitcoin is the lifeblood of society. If we go to civil war, its the one thing people will want!" 

[nobody 2,031]

On 6/18/2022 at 11:21 AM, MTSkiBum said:

I need to figure out at what price I want to buy Bitcoin. 

 Should I hold out for 10k or should I look at buying sooner.

I do like the chance of it hitting 50k again, but that is a long way in the future.

My 2 cents is I would wait for the Celsius stuff to work itself out.  We'll have plenty of bad inflation data which will drag down these hedges against inflation (¿que?) so you'll get a chance to buy at these levels.

And keep an eye on this Solend situation.  They have some single account that is leveraged to the hilt and they tried to commandeer the account to manage the deleveraging. 

What's scary is they tried to do that in the first place, but after blowback they put the policy to a community vote and 1 account constituted like 85% of the vote.  That whole situation is just shady as fūck.  The whole point is decentralization, but the way this is shaking out is the guys with the most money and the exchanges are replacing banks with a bonus that there's no regulation.  Not sure how this is better than what we have now.  This one account is propping up the entire Solana ecosystem, and people seem to be cool with it.  This story just keeps getting worse.

[Alias Detective 1,179]

30 minutes ago, nobody said:

My 2 cents is I would wait for the Celsius stuff to work itself out.  We'll have plenty of bad inflation data which will drag down these hedges against inflation (¿que?) so you'll get a chance to buy at these levels.

And keep an eye on this Solend situation.  They have some single account that is leveraged to the hilt and they tried to commandeer the account to manage the deleveraging. 

What's scary is they tried to do that in the first place, but after blowback they put the policy to a community vote and 1 account constituted like 85% of the vote.  That whole situation is just shady as fūck.  The whole point is decentralization, but the way this is shaking out is the guys with the most money and the exchanges are replacing banks with a bonus that there's no regulation.  Not sure how this is better than what we have now.  This one account is propping up the entire Solana ecosystem, and people seem to be cool with it.  This story just keeps getting worse.

https://www.cnbc.com/2022/06/20/users-of-defi-app-solend-block-attempt-to-take-over-whale-account.html

95%

[GobbleDog 815]

Bitcoin Value

Nov 1, 2021... $60,950

Dec 1, 2021... $57,180

Jan 1, 2022... $47,733

Feb 1, 2022... $38,778

Mar 1, 2022... $44,404

Apr 1, 2022... $46,296

May 1, 2022... $38,472

Jun 1, 2022... $29,789

current (Jun 22, 2022)... $20,211

[nobody 2,031]

Once we start seeing signs inflation is coming down, the fed will stop raising rates, and the stock market will turn around.   Crypto will likely take off again.  It's just a leveraged, speculative tech play.

So yeah when the nasdaq drops 10%, crypto drops 60%, but the inverse will also be true.  When the nasdaq starts going up, crypto will likely go up 6× the rate.

[GobbleDog 815]

23 minutes ago, nobody said:

Once we start seeing signs inflation is coming down, the fed will stop raising rates, and the stock market will turn around.   Crypto will likely take off again.  It's just a leveraged, speculative tech play.

So yeah when the nasdaq drops 10%, crypto drops 60%, but the inverse will also be true.  When the nasdaq starts going up, crypto will likely go up 6× the rate.

There's probably some truth to that, but when an "investment" loses 60% of value in 8 months many "investors" will be scared off. At least companies can project realistic revenue and profit. Crypto is based on the bigger sucker theory and every time it crashes, there's less suckers.

[nobody 2,031]

I see at as a venture capital play.  Promising tech.  No real plans on how it will be used, but it's new and exciting so let's throw some money at it.  Maybe you get the 100x return and maybe you lose a bunch of money.  

If people get that, it's fine.  The guys that I think are in trouble are the guys that are so sure it's bound to replace fiat or don't realize there is still a ton of uncertainty here.

[vomit 502]

Celsius still focked, and so are its investors

https://www.theblock.co/post/155069/ftx-walked-away-from-celsius-deal

 

Crypto exchange operator FTX looked at making a deal with troubled crypto lender Celsius but ultimately walked away, two people with knowledge of the matter told The Block.

FTX began talks with Celsius about providing financial support or making an acquisition but decided against proceeding after looking at Celsius's finances, the sources said. Celsius had a $2 billion hole in its balance sheet and FTX found the company difficult to deal with, one of the sources said.

[Cdub100 3,366]

7 minutes ago, vomit said:

Celsius still focked, and so are its investors

https://www.theblock.co/post/155069/ftx-walked-away-from-celsius-deal

 

Crypto exchange operator FTX looked at making a deal with troubled crypto lender Celsius but ultimately walked away, two people with knowledge of the matter told The Block.

FTX began talks with Celsius about providing financial support or making an acquisition but decided against proceeding after looking at Celsius's finances, the sources said. Celsius had a $2 billion hole in its balance sheet and FTX found the company difficult to deal with, one of the sources said.

FTX just bought BlockFi for 25 million. I'm sure Celsius wanted more than fractions of pennies on the dollar.

I believe the problem with Celsius is liquidity. They had a bank run and they didn't have enough liquid assets to meet demand. 

I'd wish they had lower withdrawal limits instead of locking everyone out.

That being said BTC needs to go below 13k for celsius to get liquidated. 

At this point anything can happen. I'd rather Celsius keep funds locked and then slowly open when they stabilize.

I'm praying that happens and we are at all-time lows and celsius recovers. I have a lot of coins with them.

[Cdub100 3,366]

Bought SOL and BTC today.

[Cdub100 3,366]

6 hours ago, Cdub100 said:

FTX just bought BlockFi for 25 million. I'm sure Celsius wanted more than fractions of pennies on the dollar.

I believe the problem with Celsius is liquidity. They had a bank run and they didn't have enough liquid assets to meet demand. 

I'd wish they had lower withdrawal limits instead of locking everyone out.

That being said BTC needs to go below 13k for celsius to get liquidated. 

At this point anything can happen. I'd rather Celsius keep funds locked and then slowly open when they stabilize.

I'm praying that happens and we are at all-time lows and celsius recovers. I have a lot of coins with them.

So I read FTX buying Blockfi for 25M isn't real either.

[Frozenbeernuts 1,652]

7 hours ago, Cdub100 said:

FTX just bought BlockFi for 25 million. I'm sure Celsius wanted more than fractions of pennies on the dollar.

I believe the problem with Celsius is liquidity. They had a bank run and they didn't have enough liquid assets to meet demand. 

I'd wish they had lower withdrawal limits instead of locking everyone out.

That being said BTC needs to go below 13k for celsius to get liquidated. 

At this point anything can happen. I'd rather Celsius keep funds locked and then slowly open when they stabilize.

I'm praying that happens and we are at all-time lows and celsius recovers. I have a lot of coins with them.

That sucks man. These exchanges and lending platforms going bankrupt is crazy, but not unexpected. The people who run these platforms have been playing fast and loose with crypto. I only have bitcoin and it's not on any exchange so I'm good in that regard. I am going as low risk as possible.

I feel bad for the people who got caught trying to chase yield. They were straight up scammed 

[WhiteWonder 2,171]

14 hours ago, Frozenbeernuts said:

That sucks man. These exchanges and lending platforms going bankrupt is crazy, but not unexpected. The people who run these platforms have been playing fast and loose with crypto. I only have bitcoin and it's not on any exchange so I'm good in that regard. I am going as low risk as possible.

I feel bad for the people who got caught trying to chase yield. They were straight up scammed 

I could have you confused with someone else but wernt you always posting about how you were jumping into all these different, smaller alt coins at some point?  

[Frozenbeernuts 1,652]

1 hour ago, WhiteWonder said:

I could have you confused with someone else but wernt you always posting about how you were jumping into all these different, smaller alt coins at some point?  

I don't believe so. There was a point where I was curious about them, but it has been over a year since I went 100% bitcoin. There may be a few others that have some utility in the future, but it's negligible imo. The only one that matters is bitcoin, and most of the other cryptos are pure scams

Plus the "defi" lending platforms are mostly scams. Yield producing platforms and programs are also extremely risky. Locking up bitcoin with a third party is a good way to lose the bitcoin. As we have seen with the crash of Terra Luna, it has a cascading effect where people have lost common sense and didn't question where the hell the 20% yield was coming from.

[WhiteWonder 2,171]

15 minutes ago, Frozenbeernuts said:

I don't believe so. There was a point where I was curious about them, but it has been over a year since I went 100% bitcoin. There may be a few others that have some utility in the future, but it's negligible imo. The only one that matters is bitcoin, and most of the other cryptos are pure scams

Plus the "defi" lending platforms are mostly scams. Yield producing platforms and programs are also extremely risky. Locking up bitcoin with a third party is a good way to lose the bitcoin. As we have seen with the crash of Terra Luna, it has a cascading effect where people have lost common sense and didn't question where the hell the 20% yield was coming from.

 

okay. thought it was you. i dont remember who it was but there was definitely a poster who was always posting about getting into this alt coin and that alt coin and it sounded like they were claiming to be invested in them. 

[Alias Detective 1,179]

48 minutes ago, Frozenbeernuts said:

I don't believe so. There was a point where I was curious about them, but it has been over a year since I went 100% bitcoin. There may be a few others that have some utility in the future, but it's negligible imo. The only one that matters is bitcoin, and most of the other cryptos are pure scams

Plus the "defi" lending platforms are mostly scams. Yield producing platforms and programs are also extremely risky. Locking up bitcoin with a third party is a good way to lose the bitcoin. As we have seen with the crash of Terra Luna, it has a cascading effect where people have lost common sense and didn't question where the hell the 20% yield was coming from.

NO, NO, NO, NO Many people knew the 20% yield was a scam.  Many of us knew the alt coins were founded on NOTHING. MANY of us told YOU bitcoin wouldn’t go to infinity. We were told we “just not getting it”.  We were lambasted for not seeing how “easy” the money was.  
 

Don’t give us this backpedaling BS.

[Cdub100 3,366]

Voyager has now stopped withdrawals. I moved everything out of voyager the very night Celsius locked me out thank goodness.

[Cdub100 3,366]

Crypto.com has limited withdrawls. They will probably be next.

[Hardcore troubadour 12,588]

On 6/30/2022 at 2:25 PM, vomit said:

Celsius still focked, and so are its investors

https://www.theblock.co/post/155069/ftx-walked-away-from-celsius-deal

 

Crypto exchange operator FTX looked at making a deal with troubled crypto lender Celsius but ultimately walked away, two people with knowledge of the matter told The Block.

FTX began talks with Celsius about providing financial support or making an acquisition but decided against proceeding after looking at Celsius's finances, the sources said. Celsius had a $2 billion hole in its balance sheet and FTX found the company difficult to deal with, one of the sources said.

Show some humanity. You have to keep spiking the ball? 

[Frozenbeernuts 1,652]

2 hours ago, Alias Detective said:

NO, NO, NO, NO Many people knew the 20% yield was a scam.  Many of us knew the alt coins were founded on NOTHING. MANY of us told YOU bitcoin wouldn’t go to infinity. We were told we “just not getting it”.  We were lambasted for not seeing how “easy” the money was.  
 

Don’t give us this backpedaling BS.

Shut up. So whiny. Bitcoin is a long term play. I was not pushing anything other than bitcoin. I wasn't pushing yield farming either

[iam90sbaby 2,120]

Just keep HODLing boys and don't listen to the FUD, it's all noise. Keep stacking BTC, ETH, ALGO and ATOM and you'll be alright.

[iam90sbaby 2,120]

On 6/22/2022 at 2:45 PM, GobbleDog said:

There's probably some truth to that, but when an "investment" loses 60% of value in 8 months many "investors" will be scared off. At least companies can project realistic revenue and profit. Crypto is based on the bigger sucker theory and every time it crashes, there's less suckers.

Has anyone ever told you you're an idiot? If they haven't, you're an idiot.

[iam90sbaby 2,120]

Also Cdub you need to drop that Solana bag.

[Cdub100 3,366]

2 minutes ago, iam90sbaby said:

Also Cdub you need to drop that Solana bag.

Why?

[iam90sbaby 2,120]

14 minutes ago, Cdub100 said:

Why?

Because Solana has a closed-source protocol, a closed validator set. There's an entire Discord channel where it's openly scheduled network shutdowns with validators whenever it became inconvenient to fight D/DoS attacks. If you have a ledger that can be rolled back at anytime at the discretion of a central group, then it's literally just a glorified database being run by a glorified bank. 

[Cdub100 3,366]

5 minutes ago, iam90sbaby said:

Because Solana has a closed-source protocol, a closed validator set. There's an entire Discord channel where it's openly scheduled network shutdowns with validators whenever it became inconvenient to fight D/DoS attacks. If you have a ledger that can be rolled back at anytime at the discretion of a central group, then it's literally just a glorified database being run by a glorified bank. 

Oh yeah I know that. The problem is the money coming into this space doesn't care about decentralization. They care about speed and in fact those coming into the space may like that it's a glorified bank.

I don't know who will win. But I do know there will be winners and loser. So I'm diversified in different platforms.

Bags:

BTC    

ETH    L1

DOT    L1

ADA    L1

SOL    L1

BNB    L1

EGLD  L1  

POLY    L2

SHIB   Sh1tcoin

THETA L1
 

[iam90sbaby 2,120]

3 minutes ago, Cdub100 said:

Oh yeah I know that. The problem is the money coming into this space doesn't care about decentralization. They care about speed and in fact those coming into the space may like that it's a glorified bank.

I don't know who will win. But I do know there will be winners and loser. So I'm diversified in different platforms.

Bags:

BTC    

ETH    L1

DOT    L1

ADA    L1

SOL    L1

BNB    L1

EGLD  L1  

POLY    L2

SHIB   Sh1tcoin

THETA L1
 

It does seem people aren't interested in getting away from banks they just want to be the first one to the new bank.

I've consolidated everything into ETH, BTC, ALGO, ATOM and a little ADA.

You absolutely need to invest in ALGO. If was created by Silvio Micali he won a Turning Award for his work in cryptography. They are also sponsoring the World Cup this year. Only $0.30 right now.

 

[vomit 502]

Voyager bankrupt

Celsius still froze assets, hired the same firm as voyager, likely bankrupt

Coinbase layoffs, stops withdrawals

Vauld freezes assets

I keep reading heart breaking stories of people losing life savings, down payments for houses, etc.  Terrible.

Crypto winter continues