Crypto lounge thread

M3B

Ostrich
Gold Member
It really is stunning how little people know and yet at the same time insist on flapping. The typical criticisms of bitcoin are always extremely shallow, premised not on facts or logic but on feelings and beliefs. There *are* valid criticisms of bitcoin, because it's not perfect, but you'd be very hard pressed to actually see them discussed intelligently. And that actually goes for both maxis and detractors.

It's always the same arguments. I've been involved with BTC for 5 years now and every bull cycle the criticisms come from those that miss out and at the bear cycles the same people with no involvement are the first to say "told you so"

The criticisms of BTC are valid, but they will be ironed out over time. It's an asset class that is 13 years old. It still needs time and it is still a good hedge against government corruption and tyranny. This past year or two has really shown why we need Bitcoin.
 

Blade Runner

Hummingbird
Orthodox
FiGvRInVIAEwyA1

Somebody's response to Peter Schiff and CNBC ... haha
 

Sooth

Pelican
Gold Member
Does she work for Chain Analysis? That's the only way I could see her tracking a Bitcoin transaction between you and a flower shop.

The point there is that eventually AI will scour all the block chains and be able to ping your phone to tell you that your sister just bought something at harbor freight again, for $57.63. She does this (buys a thing at harbor freight) every year one week before your birthday. So get excited for your new oil drain kit that includes microfiber cloth, extended capacity 4.5gal drain tray and Quad-leaver™ filter remover (3/8").

That's why XMR is actual digital cash. Because I can slip some to a buddy at work without (((drama))).
 
How do we interpret these (((news from ECB))) ?


Who knows, maybe bitcoin really is going to be irrelevant, but for every article like this, there's an article of increased adoption, gas companies investing millions into flare mining, etc...

So we'll see I guess. I'm still buying.
 

redbeard

Hummingbird
Catholic
Gold Member
The point there is that eventually AI will scour all the block chains and be able to ping your phone to tell you that your sister just bought something at harbor freight again, for $57.63. She does this (buys a thing at harbor freight) every year one week before your birthday. So get excited for your new oil drain kit that includes microfiber cloth, extended capacity 4.5gal drain tray and Quad-leaver™ filter remover (3/8").

That's why XMR is actual digital cash. Because I can slip some to a buddy at work without (((drama))).
Eventually quantum computing will break the encryption protocols used for key generation. Should we stop using crypto today because of what will possibly maybe happen in the future?
 

Cynllo

Ostrich
Orthodox Inquirer
FUD at higher timeframe bear market lows. How do you think it should be interpreted? :D

There are a lot of even MSM finance norms with a bad projection for next year. Who knows what another GFC would do, particularly a protracted one. Some people are calling for down to $5K. I can see that happening as a panic wick down, but expect it to be back up to $7k.

If we have some sort of mild papered and printed over recession I see the price panic wicking down to $10k, and $5k as a more severe scenario. Real estate could be a major trigger due to it being highly distributed. It's not just a few banks that need to be bailed out. There now must be lots of buy to renters that are underwater with their mortgage rates now being at 6-7%.

2021-Year-End-Foreclosure-Activity-Chart-CROPPED.jpg.webp


Looks like that will be about 400,000 for 2022.
 

M3B

Ostrich
Gold Member
There are a lot of even MSM finance norms with a bad projection for next year. Who knows what another GFC would do, particularly a protracted one. Some people are calling for down to $5K. I can see that happening as a panic wick down, but expect it to be back up to $7k.

If we have some sort of mild papered and printed over recession I see the price panic wicking down to $10k, and $5k as a more severe scenario. Real estate could be a major trigger due to it being highly distributed. It's not just a few banks that need to be bailed out. There now must be lots of buy to renters that are underwater with their mortgage rates now being at 6-7%.

2021-Year-End-Foreclosure-Activity-Chart-CROPPED.jpg.webp


Looks like that will be about 400,000 for 2022.
I think 10k is a good bet for a low at this cycle. Buying anywhere down here though will look a master stroke in 3-4 years.
 

Blade Runner

Hummingbird
Orthodox
From what I've seen, it has held fairly strongly in the mid teens (~16k) due to 66% roughly being hodlers. For that reason, even though I think it sinks with the coming market woes and recession, it seems like it won't go under the 10k level. Right now I think 11-12k is the low.
 

M3B

Ostrich
Gold Member
Willy Woo said that he never thought they'd be out and scared this early when he first started analyzing BTC 9 years ago.
Same guy who said 400k by end of 2021, then revised it when it didn't work to 100k by end of 2022?

I actually think the next bull run that happens will see some of the bigger people in crypto call for bear markets too early when it gets a big retrace, only to miss out on the next expansion up. What i've learned over the years with Bitcoin is that the big names on social media don't have a clue, especially if they are selling something.
 

Blade Runner

Hummingbird
Orthodox
Same guy who said 400k by end of 2021, then revised it when it didn't work to 100k by end of 2022?

I actually think the next bull run that happens will see some of the bigger people in crypto call for bear markets too early when it gets a big retrace, only to miss out on the next expansion up. What i've learned over the years with Bitcoin is that the big names on social media don't have a clue, especially if they are selling something.
Yes, he and PlanB were off. That doesn't mean this analysis is off, though. Making specific predictions should be taken into a larger context. Of course, if you never get any right, then people should call it out.
 
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