Bitcoins/Litecoins/Virtual Currencies

Crypto has never really left speculative asset territory.

There's a huge pivot to AI right now, and that's acting like a huge vacuum, sucking up all the speculative money- a lot of which was previously going to crypto.

Add to that the inflation/interest rate issues, which have dried up a lot of liquidity and you've basically got a perfect storm for a crypto downturn.

TBH BTC is showing amazing resilience, considering. But it's no surprise that the non-BTC stuff is getting killed.

What's interesting to me is that nothing about the AI pivot actually invalidates the premise behind crypto. If anything, it opens up additional use cases. There's potential for a really symbiotic relationship there.

So I fully expect crypto to come roaring back in a big way.

Every time I see anyone talking about BTC price fluctuations, it rips the mask off all the statements they make about it being a revolutionary currency or whatever nonsense they spout (no offense, Flobee ). People are in BTC to make money as a speculative asset. Period.

If there wasn't a prospect of it shooting well above $100k again in the future, no one would own them outside of black market illegal shit where it gives a better sense of anonymity.

There's nothing wrong with that. I just wish they'd be honest.

Gravel said:

Every time I see anyone talking about BTC price fluctuations, it rips the mask off all the statements they make about it being a revolutionary currency or whatever nonsense they spout (no offense, Flobee ). People are in BTC to make money as a speculative asset. Period.

If there wasn't a prospect of it shooting well above $100k again in the future, no one would own them outside of black market illegal shit where it gives a better sense of anonymity.

There's nothing wrong with that. I just wish they'd be honest.

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Most people are in the trade for sure. Doesn't change what the technology actually is and does. I would argue people that actually understand this are just buying in times like this

Gravel said:

Every time I see anyone talking about BTC price fluctuations, it rips the mask off all the statements they make about it being a revolutionary currency or whatever nonsense they spout (no offense, Flobee ). People are in BTC to make money as a speculative asset. Period.

If there wasn't a prospect of it shooting well above $100k again in the future, no one would own them outside of black market illegal shit where it gives a better sense of anonymity.

There's nothing wrong with that. I just wish they'd be honest.

Click to expand...

An especially important observation when it was touted as "digital gold" / "inflation hedge" and we had the most ripping inflation in 40 years, yet here we are back to the 60k's.

It behaved purely as a risk on chase for a while, but even that narrative has changed. AI tech / infrastructure is the new shiny and Bitcoin is being left out to dry.

Jysin said:

An especially important observation when it was touted as "digital gold" / "inflation hedge" and we had the most ripping inflation in 40 years, yet here we are back to the 60k's.

It behaved purely as a risk on chase for a while, but even that narrative has changed. AI tech / infrastructure is the new shiny and Bitcoin is being left out to dry.

Click to expand...

Inflation started in 2020 when they printed massively. BTC was sub 10k at that point. It just moved first. Don't get overly distracted by dorks and their twitter narratives. The coin is doing its thing