Cash is king.

People never learn. So much crypto scam this days, it’s going to be hard to find people and investors to invest into this shit.

Cash is king, for spending, that's it's only use. If you're saving $ in cash, in long term, you're a complete idiot. As the monetary supplies expand, your cash is devaluing VERY fast.

Bitcoin is still the best savings technology. Finite supply with increasing security & usage versus fiat currencies and their infinite supply.

Altcoins, altcoin ponzis, centralized exchanges offering huge lending returns APY, etc are who drag the markets down, in the short term. (Add to the list, mtgox, quadriga, 3ac, luna/terra, celsius, ftx/sol and anything Sam Bankman-fried touched)

Learn your lesson. Buy BTC, withdraw to cold storage, and hold (save!!!)

Parking your cash in the bank with 4-5% interest it’s risk free investment.

Parking your cash in BTC it’s big risk investment that it might go to zero.

$12k BTC by year end is most likely scenario.

No personal problem against BTC at all, I even bought and hold some since it was 10K, however the only thing that defines the price of an asset is people entering and buying it.

It doesn't matter if max supply is 10 million or 21 million or if a lot of people hold it since the early days, if people don't enter and don't buy it, even if more people sell it than buy it, price will eventually fall. It's economy 101.

That's why they make all those bitcoin conferences and pay so many crypto influencers to convince people to buy. That's the only thing they can do, convince people to buy it and enter the blockchain to increase the price of this asset.

If you're talking about altcoins then I agree, as they have CEO's, employees, marketing teams and many people who stand to benefit from the altcoin creations, enriching the founders (see Ripple/XRP's Larsen & Larimer, Garlinghouse, see Zcash Zuko founders fee, see ETH Vitalik net worth, etc)

Bitcoin on the other hand has nobody. A person made an awesome thing and vanished. The reason it grew was many advocates for free, fair, decentralized, permissionless money spread the word, and any/every one of us love that idea, unless you're a zombie of the state.

So, Bitcoin, it sells itself. Altcoins on the other hand........ :helpme


ps. Gold needs to be "sold" onto others too. Have you seen the commercials? There are tons. And 95% of gold is stored value, not being used for anything else. :2 cents:

is it up again?

yes going up slowly....

Woohoo, it's skyrocketing now! Oh wait, I was doing a headstand when I looked at the chart :1orglaugh

CRYPTO EXCHANGE FTX FILES FOR BANKRUPTCY

Who is next ?

This is exactly what I attempted to explain to my friend (a cryptobro). The halfwit went on and on about how BTC will hit $100,000+ in 10 years. Yeah so what if it does? In 10 years $100,000 will buy you a loaf of bread. That shit went right over his head.

there will always be weaker coins in other countries
i might not be able to keep floating with 100.000 a year in Austria but in Paraguay im filthy rish


im mod at the rickle discord
project is going for a year now.
watching the bots fight over some limit order i placed is fun!
BTC is the prototipe, the prof of concept sadly the tech will reach its limits & no matter what as new way of handling cash will have taken over want it or not

except for the fact that your 4-5% interest rate would have lost you money with this year's inflation.

Also, if you bought BTC anytime before this year, you are up big time.

OK. I purchased 1 BTC on October 15th, 2021 for $60,883.80. (BEFORE this year)

Today, my coin is worth $16,680.70. "I AM UP BIG TIME!!"

Thank god I didn't put that $60,883.80 into a bank, you know with this year's inflation and all. I MUCH rather have $16,680.70 then a measly $60,883.80.

No offense CAHEK but this is the type of ignorance that keeps people poor.

Your method you'll gain in fiat value, but you'll lose in actual value, due to inflation. So you'll be happy, seeing your USD rising from your 2-3% interest (4-5% bullshit), but you'll actually be losing above 10% through inflation (actual CPI is always higher than reported, they fudge the numbers to keep ignorant people poor unphased, not panicky, and poor)

So your time preference is very high. What did you expect? to put your money in BTC for a year, profit, an get out?
What if you bought 1 BTC anytime prior to 2020 and held 1 year? you'd be WAY up. Right now all markets are down 50-75%, AND we've had a crypto implosion, black swans, due to scammy altcoins, irresponsible centralized exchanges, & greed. Bitcoin fundamentals have not changed and is more secure than ever before, it will recover, these are all just setbacks and every single one of these setbacks is great for Bitcoin future, washing out the trash.

the fact you have BTC & not banknotes is why crypto rules.
just hodl with diamond hands period

Blockchain tech isnt mature yet all earnings are just dust... the ceros to the right is what counts

Dogecoin is not that bad.
It has more value because it's associated with a dog picture. #BusinessTip #YoMama

He lost $16 billion in 1 week.

https://www.cnn.com/2022/11/11/busin...lth/index.html

The poor bastard.

O'leary, a big crypto advocate and investor wants government regulations. The government needs to control crypto for it to become adopted into the mainstream. Investors like him have more power and a louder voice than cryptobros arguing over the internet.

Big wallets withdraw their money from cryptos and "small fishes" are "dead".

Maybe it is time for regulations so big wallets has also under control this "new economy".

So if someone still keeps coins like BTC, ETH, and my lovely DOT in the future will make serious money! But inflation hit all newcomers who thinks that will buy a lambo with few bucks...

If you still have any funds / crypto on any unregulated / shady platform take it out asap.

This is financial advice.

Warren Buffett & Charlie Munger gave their take on crypto, makes them poor I guess.

Ofc there are other ways to be successful, as they are.

These two guys have proved they have no clue what Bitcoin is or what it can do, to them it's a foreign thing that they don't want involved with because it's too complicated for 100yo traditional finance types of guys.

From what I've said, you have no response, aside from "but Buffet & Munger blah blah"?

Lets see if the Biden regime gives back those $xx,xxx,xxx's of FTX/Alameda donations back.

Every crash this year can be attributed to FTX and their nonsense.

This is who was running one the "parent" company.

Yup you're right.

Thing is, the more trust you put into centralized companies and people, the more risk you're taking in crypto.

Bitcoin is anti-trust (trustless), you trust math & protocol only when holding Bitcoin on cold storage.

Trust math. Don't trust these things:

https://pbs.twimg.com/media/FhX3E3EV...pg&name=medium

and cannot ignore the connections:

https://pbs.twimg.com/media/FhX2QeSX...pg&name=medium

Sure. Now zoom out on your timeline and apply basic investing strategies such as DCA and suddenly you’ve made waaaaay more money.

If you’re dumb enough to go all-in into an investment while its at an all-time high with no scaling-in, stop losses or exit strategy and expect the value to magically go up forever without any corrections; then the problem isn’t Bitcoin, it’s you.

Spot on!

You are right about CEXs, not your keys, not your wallet. That's why I think DEXs are the future. I have been out of the market for some time, but started investing in DEXs lately

I like comparing all this situation with DOT com bubble back in ''00, when many companies got wiped out.

This is the cleaning crypto world needed.

The fact that is not regulated gives businesses a chance to do whatever they want with clients' funds + its way too overleveraged.

The recent events make me think about this Michael Burry's tweet

https://i.imgur.com/3CvTf9T.jpg