Bitcoins/Litecoins/Virtual Currencies

Arden

Arden

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At *some point* BTC/crypto may be an actual hedge against inflation and a true store of value. But right now it's still in "speculative investment" territory, which means not only is it going to follow the rest of the market, but it's going to fluctuate significantly more than the rest of the market. When shit gets bad for the market, shit gets *real bad* for crypto. Speculative investments are the first ones to go when things get dicey.
 
Flobee

Flobee

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My 2c

Bitcoin will be fine, we may touch the prior ATH (20k) but I doubt we break down that far even in a worst case scenario. We're hearing rumblings of bankruns in Canada after their financial power grab. Wait until there is a Bitcoin 'bankrun' and the majority start to take custody of their coins. I think we'll see just how much rehypothecation is happening in the space. If this does happen expect price to skyrocket for 'real' BTC as some % of holders find out they only own an exchange IOU. The more institutional investment we see the less likely this becomes as I don't think those coins ever leave custodial control (gov control).

Regarding alts... well... good luck. Some will probably recover, a ton of them won't IMO.
 
OU Ariakas

OU Ariakas

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Man, you would think these new digital currencies that don't care who is in power would do better during global instability. Instead, they follow global stock markets like a puppy dog. Arden Arden called it; 99% of people in crypto are just diversifying their portfolio.
 
Flobee

Flobee

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Interesting read regarding Jack Dorsey's new project around creating hardware wallets to improve self custody. We'll see what they end up delivering but they're talking a big game. I'm hopeful because this kind of solution (done correctly) would be a game changer.

 
Mist

Mist

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OU Ariakas said:
Man, you would think these new digital currencies that don't care who is in power would do better during global instability.
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You would not think that, since they all rely on cheap electricity, global connectivity, and relatively cheap access to tech components.
 
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OU Ariakas

OU Ariakas

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Mist said:
You would not think that, since they all rely on cheap electricity, global connectivity, and relatively cheap access to tech components.
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I don't know how to make an internet post reflect my tongue-in-cheek -ness of the comment but this was just me shitting on crypto.

BTW I own shitcoin crypto so I am a part of this.
 
Daezuel

Daezuel

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Damn I had a MATIC buy set for $1.25 that I've had for months and it almost hit it so I cancelled it thinking it might go lower like it did the last time everything dipped.

Wonder if it'll still happen.
 
Arden

Arden

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I will say it's possible that a global situation like the one into which we are careening ends up speeding up the crypto timeline. I.e. it could end up making it LESS of a speculative investment and more of an actual alternative/hedge. Not saying it's probable, but it is possible.
 
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Flobee

Flobee

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Arden said:
I will say it's possible that a global situation like the one into which we are careening ends up speeding up the crypto timeline. I.e. it could end up making it LESS of a speculative investment and more of an actual alternative/hedge. Not saying it's probable, but it is possible.
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1645743834341.png
 
reavor

reavor

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Mist said:
That's absolute bullshit.

The FBI has proven it can control Bitcoin just fine.
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dont be salty that The GOP is the party of crypto, memes, freedom and fun while the dems are the party of degeneracy, authoritarianism, corruption and instability
 
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Haus

Haus

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OU Ariakas said:
I don't know how to make an internet post reflect my tongue-in-cheek -ness of the comment but this was just me shitting on crypto.

BTW I own shitcoin crypto so I am a part of this.
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You should use the Sarcastrophe, for example...

^I'm holding off on investing in BTC until someone I trust on financial topics weighs in.. someone like Foler Foler ^

See?

Now, it's true that Crypto hasn't decoupled yet and that makes it follow the market. The massive event I could potentially see coming from this would be : NATO/US nations do really cut Russia off from international banking. Germany realizes it REALLY does still need that sweet Russian oil and gas. Since Russia has no access to SWIFT, and possibly limited access to the Chinese alternative, they insist on using BTC as a blockchain authenticated and viable transfer system. It could happen. The reality is SWIFT was designed in an era when encrypted communication and secure transactional recording were things which took a heavy lift from a technology standpoint. That is no longer the case.
 
Flobee

Flobee

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Haus said:
Now, it's true that Crypto hasn't decoupled yet and that makes it follow the market. The massive event I could potentially see coming from this would be : NATO/US nations do really cut Russia off from international banking.
Click to expand...
May be time to load your bags

 
Lightning Lord Rule

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BTC and ETH both up double digit% in the last 24hrs. Could this be the refuge that the Russians are (ironically, IMO) running to with their currency being destabilized?

Both of these have been fairly well coupled to NASDAQ/SPY recently, but this may be different since neither of those indexes moved that much since Friday. I highly doubt that crypto is becoming a leading indicator rather than a trailing indicator to stonks overall... so, maybe this is what we're seeing? If so, I think there's a good chance there's another ~10% move they could go up before they recouple to the indexes.


Caveat: all predictions wrong or your money back!
 
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