[careinke]

Bitcoin back above 22K. Honey Badger don't care, but some bankers are going to jail.

Peace

[jato0072]

It is back up probably due to the Federal Reserve announcement to inject billions of dollars into the banking system.

Party!

[careinke]

It is back up probably due to the Federal Reserve announcement to inject billions of dollars into the banking system.

Party!

Better than Ukraine.

Peace

[theluckycountry]

Bitcoin back above 22K.

Wake me when it's back above 60k. It's supposed to be an inflation hedge, is it not? No? I guess that was just another one of its marketing pitches. It's just a chip in the casino now, spin the wheel, you might get lucky. But since it's controlled by Wall Street we know where the profits will ultimately go.

[theluckycountry]

Now it's 27k, off like a rocket launch. Hey! Maybe this is it, maybe it's going to $100k, and then $200k
Place your bets folks, the greatest game on earth is back in business.

[careinke]

[theluckycountry]

sorry inke, I was only joking. None of the other crypto has confirmed bitcoins gains so what I suspect is that this a radical new pump and dump scheme cooked up by some whales and wall street. After all bitcoin is the big one and now that these are funds holding the majority of the tokens it's an easy play. Sort of like the how the silver market is controlled if you know about that manipulation.

[Plantagenet]

People are taking billions of dollars in crypto assets OUT of BInance right now.

There's an old saying in finance......you don't know who is swimming naked until the tide goes out.

Well.....right now the tide is now going out on Binance.

Essentially Binance is facing a run on the bank......and if they have been stealing or misappropriating or even just misplacing their depositors crypto assets then they will be exposed.

But if everything is on the Up and UP, then people will get all their money back.

Of course, even normal FDIC chartered banks can go bankrupt when there is a run on the bank......and BInance is definitely not a normal FDIC chartered banks.


The Binance CEO is named Changing Zhao and he looks like a nice guy and seems to be trustworthy.....but is he really?

binance-ceo-changpeng-zhao-address-billions-exchange-outflows

Cheers!

[theluckycountry]

If it's one thing I know it's that the Chinese have no scruples when it comes to making money, I would be very surprised if this does not turn into an FTX fiasco.

The simple fact is the cryprosphere is rife with fraud, it's happening at every level, especially with those that hold their own wallets. It's like the Wild West and probably always will be.

https://www.bing.com/search?form=MOZLBR ... ypto+fraud

(scruples 1: an ethical consideration or principle that inhibits action)

[AdamB]

If it's one thing I know it's that the Chinese have no scruples when it comes to making money, I would be very surprised if this does not turn into an FTX fiasco.

Surprised you as a collaborator are objecting to anything they do. Write a letter to your alleged King, seek his forgiveness.

[theluckycountry]

Yawn, price of bitcoin down again

[AdamB]

Yawn, price of bitcoin down again

Yawn, price of gold down again, -3%+ month over month.

[theluckycountry]

3 Dangerous Cryptos to Avoid at All Costs in June

In general, crypto is dangerous. It is an asset class that’s risky by nature, with potential dramatic, prolonged downturns possible, proven out by last year’s price action. Indeed, 2023 has been better for crypto overall. Interest rate hikes are slowing, and that is making riskier investments more attractive....

Here’s a list of three dangerous cryptos I think are best left alone right now.
PEPE-USD, WFAI-USD, SHIB-USD
Pepe (PEPE-USD) is one of the trendiest cryptos at present. It’s also yet another meme-inspired coin that has emerged from a strange investment strategy that didn’t exist a few years ago. Meme coins burst into the collective investment conscience during the pandemic with Dogecoin (DOGE-USD). Many others have followed.

They all have several commonalities. Their use cases are limited to non-existent, for one. That‘s certainly true of Pepe. Additionally, demand is driven by their recognizability through memes. The more they’re used in memes, the better.

In Pepe’s case, it was born out of a comic called Boy’s Club. It has been co-opted by movements unrelated to its creator’s intentions. While welcomed for its use in Hong Kong protests, its use was not welcomed by its creator in connection with the alt-right movement.

https://finance.yahoo.com/news/3-danger ... 58044.html

I would argue that all the crypto tokens are meme based, the first, bitcoin, is a meme of a gold coin. It's part of it's marketing, a big part! Trying to capture the imagination of the public by insinuating a relationship between physical gold.

In popular language, a meme may refer to an Internet meme, typically an image, that is remixed, copied, and circulated in a shared cultural experience online.

[jato0072]

I'll leave this here. It is all over the internet so you can search for your favorite outlet:

‘A natural way to diversify': Janet Yellen now says Americans should expect a decline in the USD as the world's reserve currency — what’s really going on and how can you prepare?

The U.S. dollar saw an 8% decline in its share of global reserves in 2022 — causing some to question whether the dollar’s days of dominance are over.

Treasury Secretary Jannet Yellen gave her two cents on the matter of so-called “de-dollarization” during a congressional hearing on Tuesday — stating that no currency currently exists that could displace the greenback.

[theluckycountry]

Bitcoin Setting New Records in Unmoved Supply as 'Hodling' Continues

The amount of Bitcoin supply that remains dormant is increasing as investors remain reluctant to sell. This comes despite BTC prices tapping a new 2023 high over the weekend.

Every day, new record highs are being set in the amount of Bitcoin supply that has not moved in at least a year... This may be due to accumulation, long-term holding, or institutions buying and locking away the asset. Either way, it should positively affect price action since there are fewer Bitcoins to buy and sell. However, some could argue that holding BTC means not using it, which negates its properties as decentralized money.

https://beincrypto.com/bitcoin-records-supply-hodling/

Of course it negates it. And that was the fundamental purpose of bitcoin in the first place! They are just super expensive beanie babies now.

[theluckycountry]

I love the stories posted on yahoo finance that try to give legitimacy to big price drops in the tokens. I only go to this yahoo site because it's a quick goto for prices on everything but the odd story catches the eye. The story comes from other site and for all we know could have written by a 10 year old, or a clunky Ai

Bitcoin Hits Two-Month Low Under $28,000 Investors Shed Risk Assets As Hawkish Fed Minutes Send Government Bond Yields To 15-Year Highs
https://finance.yahoo.com/quote/BTC-USD ... m0o32z3jzm

Says the headline. Rates Yields Blah Blah Blah. It's all meaningless. Shed Risk is a term employed by big players to cover the fact they are pulling out at the top. Another is "profit taking"

But leaving all that aside it's pretty clear that the cRyPt0 C0mplex is not going to have the Big Recovery and further growth many have been touting ever since Dogecoin fell from grace, wait for it... April 2021. Yes, 2 Years and more ago. Just Hodl they have been saying, any day now... It's a bit like waiting for commercial Fusion power to arrive but with less legitimate analysis in play.

No fundamental lies are touted anymore, no, bitcoin goes up with inflation to protect your money crap, Bitcoin goes up in times of economic instability. It's quite the opposite in fact. It's a real modern day tragedy this crypto scam, untold millions of little savers worldwide hodling onto wallets of unique computer codes in the hope that they can retire in ease.

Anyway we'll pop back in a few more months, or a year, and see where they are then but I guarantee if they do have some magic rally the first thing on the minds of many hodlers will not be "lambo" but will be "unload/Fast"

[careinke]

I bought more today.

Peace

[theluckycountry]

I bought more today.

Peace

Then you overpaid, because it's well under $26k today. Never, Never try and catch a falling knife inke, that's one of the fundamentals of any investing strategy.

Of course gambling has no fundamentals, in gambling you wait till you have some money in your pocket and head off for the casino. It helps if you're feeling lucky though. Luck could be viewed as a "fundamental" to a gambler.

Here is the definitive (and world famous I might add) 6 rules of crypto investment strategy.
https://www.youtube.com/watch?v=7hx4gdlfamo

[careinke]

I bought more today.

Peace

Then you overpaid, because it's well under $26k today. Never, Never try and catch a falling knife inke, that's one of the fundamentals of any investing strategy.

So you don't believe in dollar cost averaging?

I'm hoping it will drop to 19.5K, where I will significantly increase my buys. Right now, it looks possible with the upcoming Stock market crash, a dearth of crypto being held on exchanges, continuing high inflation, mass migrations occurring across the globe, and insane governments believing they can control all of this.

In addition, the Fear and greed index for BTC dropped from a slightly bullish 53 to a pretty bearish 37 yesterday. So the blood is beginning to flow in the streets. Right where I want to play.

Finally, I don't even view crypto as an investment. It's more of a mission to separate the state from money, just like we are supposed to have a separation of church and state.

We currently have five sources of passive income that will not go away, (unless the U.S. goes away). We own land with zero debt on it. Our survival skills mean we will always be able to eat a healthy diet. Our medical costs are incredibly cheap with medicaid and Champus for life.

I look forward to bringing up this conversation again after the Havining in April.

Peace

[theluckycountry]

Yes, the ragged edge of failure
(btc $25900)