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I told you, scam is crumbling. Hope none of you good guys are getting hit to hard. Hope HC, SH, and SAC, and
phags like them have everything they own tied up in it.

LOL.

Yep, it's a Ponzi Scheme. We tried to warn folks.

I'll pick some up when it's a dollar a coin again.

Going to be a long time before I think about crypto

Ponzi scheme or not, plenty of investors made impressive fortunes from it. Wished I had been one.

I just bought some more. Bitcoin is never going away folks.

Lot's of people get rich from Ponzi Schemes. Even the one run by Ponzi himself. It's only the last people to get into it that get left holding the bag.

Fire on the Mountain... Run boys Run... Devils in the house of the ris'en Sun ... Chickens in the Hard drive pick'in Crypto... Granny do you Bitcoin... No Child No... Johnny lock up your Stow and play yer Fiddle Hard... There's a new thing they call Crypto and the Devil deals the Cards... If you win you get a shiny Fiddle of Fake Gold... But if you lose the Devil gets your Dough...

Blockchain currencies are a tool and not an investment. As a tool, crypto currencies are very useful. As an investment, it is a rollercoaster.

Unfortunately, many saw crypto as a get rich quick scheme. In the early days this was true. As the market has matured, not so much.

Chances are you will get another chance sometime after the "halving" in 2024. The bull markets revolve around the "halvings"....or certainly have in the past. This is simply that the fees in Bitcoin paid to the "mining companies" to maintain the blockchain get cut in half every 4 years, reducing the available supply they can sell. I guess you could say its rigged.....and that is to the upside over time with massive moves up and down.

You'll need to be watching it starting the middle of next year as everyone knows this and will try and front run the cycle.

Theoretically, It could go from a 12-15k bottom in 2023 to 100-150k in 2025-2026. Then, everyone will be calling for it to go to 1 million, and you'll need to be selling. Obviously, if everything goes to hell in a hand cart before then the prices will be different, but the halving will still happen putting upward pressure on the price. I guess people could totally give up in the idea of crypto but I doubt it.

Who bought a bunch at 60k?

I bet no one here will admit to it.

No, but there were several heavily pimping it about that time.

“Never take financial advice from a broke guy.”
Dave Ramsey

This advice has served me well through the years.

It's a technological commodity it is NOT money or a currency. It's "value" is based on scarcity.

Scarcity only provides value to something people want. Do you still want cryptocurrency? There is no legal recourse should your transaction go bad. If you lose your password/wallet key, what do you do? You only have access if you have power and an internet connection. Seems like a risk, given what may be coming.

As said before - if BTC was currency and being a finite amount (allegedly) If money supply is fixed - as BTC it would be - then interest rates would be free floating and market determined. All economies experience productivity growth, and all healthy economies experience real growth. Those gains are measured in nominal money, so nominal money must also grow over time. Therefore, if the money supply does not grow, then credit and monetary aggregate growth is restricted. Credit cannot exist unless it can make legitimate claim to settle in money. So, ultimately, too little money supply eventually causes funding and liquidity squeezes.

Here is how crypto works for many folks.

You need to pay someone $$$$ in a foreign county. You could go the traditional route and run to your bank, request a wire transfer, pay them for pleasure of doing business with them and then have your funds further eroded when converted to the landing currency AND wait a few days for the whole process to happen. So every transaction costs you 4%-6% depending.

OR

You can purchase crypto, pay a fee to your blockchain broker/exchange service then immediately transfer the funds to the destination account and save 70%- 80% on the banking and exchange rate. In addition, many services are not reporting your transactions. They are only reporting if you're using crypto for investment purposes and making capital gains. But there are ways to protect your privacy and gains if you're so inclined.

Celsius - head of lending is a porn star who was hired as a marketing intern and has no finance experience. Only prior experience (other than porn) was shoe designer.

Coinbase laying off 18% today as well.

But yeah - this is the "future" of finance. errr grift.

Bitcoin is still in the infancy stage. Took a while for the Indians to go from smoke signals to more modern ways of communicating too.

Anyone who thinks BTC is a "scam" or "going to a dollar" needs to get short enough on it that they can walk under a coffee table and make an easy fortune.

Were you left holding the Bitcoin bag?

Lol . . . . .bought in at 63 😁

Thats the worse analogy ever.

Where are the indians now ?