The thing is that crypto bulls fail to acknowledge that COVID bull run was sparked by perfect storm of central banks expanding their balance sheets, massive stimulus programs, and people bored at home opening new crypto accounts. It only take $93M inflow to increase Bitcoin price by 1%. This latest run doesn’t validate the long-term viability of crypto, it wasn’t organic. And by the same token, factors outside of crypto could bring it crashing down.
Remember when the coli first discovered crypto currency and brehs were about to cop lambos and shyt?
- Thread starter Carlton Banks
- Start date
The thing is that crypto bulls fail to acknowledge that COVID bull run was sparked by perfect storm of central banks expanding their balance sheets, massive stimulus programs, and people bored at home opening new crypto accounts. It only take $93M inflow to increase Bitcoin price by 1%. This latest run doesn’t validate the long-term viability of crypto, it wasn’t organic. And by the same token, factors outside of crypto could bring it crashing down.
duck
Bills Mafia
i never understood cryptocurrency and i probably never will. It seems like buying stocks for a company that dont exist selling product that dont exist
ORDER_66
I am The Wrench in all your plans....
That’s very unfortunate.
the bossman
Superstar
Why not even try to spend 5 minutes to understand what it is? This is one opportunity you will be kicking yourself for a longtime that you ignored
Why not just learn and educate yourself?
A lot of black people are going to miss out on these opportunities and will kicking themselves years from now
Tres Leches
Empire Business
Nothing wrong with that.
That being said, BTC was once worth pennies and you could get 5 of them free per hour on an old website like 12 years ago.
Today those 5 free you could get per hour on that free website would be worth $284,000 for every 5 coins. And you could get those coins FREE on that bitcoin faucet once per hour.... 8 hours on that website back then would have retired you today.
When something comes along and blows up like that; I just think its smart to get yourself some and stash it away somewhere and forget it. Maybe throw $3k at it, or $6k if you can afford that. (More if you got that kinda money) then just forget about it. Worst case scenario you lost money you would have spent at a visit to a casino for fun some day.... Best case scenario, if this shyt keeps going, you dont have to look back at life and say "I had years to get on that train, but instead I just watched it slowly move past me". That would be something you regret. Just get a little of it now. Whatever you can afford. Then forget about it.
Check back in 12 years and see what's up.
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NotAnFBIagent
[redacted]
It's more akin to currency than stocks.
Digital currency not tied to a government.
People were saying the same thing about real estate in 2006. Anytime there’s been mainstream mass adoption like this the biggest returns were already in the rear-view mirror.
That's like a half of million in May 2021.I made over 6 figures on cryptocurrency after capital gains
My problem with it was that you couldn't get anyone to take you seriously when you told them about it in 2013 and earlier. Then 2017 came and a market surge happened and all of a sudden people wanted to listen, but it was too late. If it weren't for my girl being so anal about how much I invested in it, we may have walked away with retirement money by mid to late 2017, but she was always complaining about the shyt.
I still have like a 50 or so Ethereum tokens on a trezor somewhere in the basement but the shyt aint worth nearly what it was. Gonna hold it just in case though
the bossman
Superstar
The 12+ year bubble and counting
Can you articulate exactly what makes crypto a 'bubble'?
First you said it was because of stimulus checks and people being bored at home.
The stimulus checks stopped almost a year ago now and people have gotten vaccinated and gone back to work. By your theory shouldn't the market have crashed by now?
The 12+ year bubble and counting
Can you articulate exactly what makes crypto a 'bubble'?
First you said it was because of stimulus checks and people being bored at home.
The stimulus checks stopped almost a year ago now and people have gotten vaccinated and gone back to work. By your theory shouldn't the market have crashed by now?
What is the intrinsic value of most crypto currencies? A bubble is when most market participants are buying with the expectation of being able to sell at a huge return within a short amount of time. Look at a chart of total crypto market cap, it’s basically a vertical line straight up since last year. The market wasn’t appreciating like that for most of bitcoin’s existence and there wasn’t widespread mainstream participation. These are hallmarks of past bubbles including the 1600s Dutch tulips, late 90s dot-com stocks, etc. Huge short-term returns fueled by mainstream inflows are ponzi-esque characteristics.
Stimulus just stopped a couple months ago if you include unemployment. But like in most bubbles people won’t believe it until it bursts.
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what does this even mean?
throw 3k at every popular crypto that comes out? throw 3k at every new "thing" that comes out?
this is the most hindsight babble i've ever seen