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They got kilt by Johnny Gringo 😁

It's going there again.

Thanks! Some of them are taking Pale Face Gringos to the bank every day at their casinos.

Yea, but most of em are laying in a ditch drunk and broke.

Crypto is much like the Pet Rock craze. Unless one is using it to kill something, it has no value beyond perceived value - that is valuing a product's benefit higher than its function.

There was no reason why a $0.05 rock in a box $0.25 box should cost $4.00 but at its height, they were selling 100,000 a day. FWIW, the originals are now selling for $10.00. So there's still plenty of crazy in the world.

Did you make any money on it when it went from 20k to 60k? I did....via the stock plays that were piggybacking on it.....and learned a very little about crypto in the process. But you have no way of knowing that is true because I ain't showing you my trading records. Would it make you happy if I had I lost my money? Probably. Some people are like that.

It never ceases to amaze me that people will sit through massive moves and not make a dime and then when the trend reverses to the point that it is obvious to everyone will try to appear smart and say "we tried to warn you". Why didn't you warn us in late 2020 that it was fixing to take off?

But seriously, you need to be shorting it. Otherwise when it goes from 20K to 1 you make nothing by being right. So you will miss potential fortunes on the up and down side.

My crypto investment strategy is simple:

I put $5,000 into Bitcoin in early 2019 when it was valued at $4,100ish. When I doubled my initial buy-in in 2020, I took my $5,000 out and traded with the casino's money. Each month, I converted 20% to cash. When it fell in 2021, I didn't panic because it was the casino's money.

The second part of my investment strategy, is I let the experts do all the trading. They are better suited to trade between cryptos to pick up more value that simply riding the Bitcoin wave. Even during the downturn, I am still taking my 20%. As soon as the market stabilizes, I may for the second time put cash back in, but I will still be using the Casino's money to do so.

I feel sorry for the Johnny come lately guys who road the rollercoaster up only to see losses on their accounts. That doesn't make crypto bad, it only makes one's timing bad.

fortis Fortuna adiuvat - but it pays to know what you're doing.

historically, those that invest can afford to lose it.

Gopherit.. I wouldn't touch it at one CENT!

Traders betting against crypto stocks have raked in nearly $4 billion this year

https://finance.yahoo.com/news/cryp...ed-in-4-billion-this-year-134004038.html



Buy?

Hold?

Sell?

Short?

Eight words in that very smart sentence...

HARD COMMODITIES... PHYSICALLY HELD!

What hard commodities?

The ones you know how to use to make a living... or barter services with.

Babel is in trouble - same as Celsius was/is.

I'm not a fan of Gates but I tend to agree with him on crypto - it's not backed by any intrinsic value other than the hope that someone else wants it more than you did when you bought it. It doesn't create anything, there are no assets to back it up and there's no "faith and credit" of anyone/thing to back it up etc.

Can a person make money on Crypto - sure but how? Selling a coin to someone else for fiat dollars/yen/ruble/dinar/etc.

Would be interesting to know and I don't know if you'd ever be able to tell but who's sold a Bitcoin for a Doge or has it always been crypto for fiat?

Short MicroStrategy .. It may get a Margin Call Soon ..

Crypto is the future, but only when the fed controls it. The .gov will have more of an ability to control every aspect of your financial life than they already have.
Compliance or else.

Plenty of money made or lost….the volatility has been good for some of us. I view it no different than regular stocks….it’s a rigged game and you know it going in.

That's putting it mildly if they succeed in transitioning us to digital currency and outlawing any other form. Yes, they will know everything you do after that, and can freeze your ability to make purchases if they don't like your activities. Which is why we should reject it in no uncertain terms when they try it. Orwell's 1984 doesn't come close to describing the dystopia that would prevail if that were allowed to happen.

PS The government's digital currency would be anything but Crypto, since that word implies impossible to detect. The government's digital currency will be quite the opposite of Crypto.

Your right, I should have said digitized instead of crypto.

Babel stopped withdrawls today due to lack of liquidity.

So - do you "own" bitcoin if you can't move/use/spend or sell it?

Not really....

Yep. Just another Ponzi Scheme.