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Bitcoin
- Thread starter James48843
- Start date
Re: Crypto News
El Salvador buys the bitcoin dip, adding 500 coins to its balance sheet
El Salvador buys the bitcoin dip, adding 500 coins to its balance sheet
https://www.cnbc.com/2022/05/09/el-...coin-as-crypto-market-sell-off-continues.html
Bullitt
Well-known member
Re: Crypto News
Think about about much money El Salvador has lost in bitcoin. Why does president of El Salvador feel the need to announce that he's buying bitcoin? Does he think he's going to cause a monster rally like Musk did with Dogecoin? The party is over.
What happened to all those laser eyes?
Think about about much money El Salvador has lost in bitcoin. Why does president of El Salvador feel the need to announce that he's buying bitcoin? Does he think he's going to cause a monster rally like Musk did with Dogecoin? The party is over.
What happened to all those laser eyes?
Bullitt
Well-known member
Re: Crypto News
Now this is interesting. Selling to "meet margin calls". I thought he mostly ran mutual funds, but maybe he's involved in private funds also.
He also has an enormous margin of safety having allegedly bought his bitcoin sub $1,000.
https://www.coindesk.com/business/2...old-some-of-his-bitcoin-to-meet-margin-calls/
Now this is interesting. Selling to "meet margin calls". I thought he mostly ran mutual funds, but maybe he's involved in private funds also.
He also has an enormous margin of safety having allegedly bought his bitcoin sub $1,000.
https://www.coindesk.com/business/2...old-some-of-his-bitcoin-to-meet-margin-calls/
Bullitt
Well-known member
Re: Crypto News
Saylor's business is about to get a margin call, and when he does, goodbye crypto.
https://www.cnbc.com/2022/05/12/mic...software-firms-bitcoin-bet-is-underwater.html
Saylor's business is about to get a margin call, and when he does, goodbye crypto.
https://www.cnbc.com/2022/05/12/mic...software-firms-bitcoin-bet-is-underwater.html
liamii
New member
Re: Crypto News
Yeah, I agree with you also, he deleted the bitcoin from his Twitter bio, nowadays, It seems we have passed laser eyes!
Bullitt
Well-known member
Re: Crypto News
I'm still dollar cost averaging into bitcoin but I don't ever expect it to be more than 1% of my investments. Diversification is the reason why. It's considered an asset, continues to become more widely adopted, and might be a diversifying asset among portfolios. Going all in on crypto is not a smart decision.
99% of crypto projects are flat out frauds. Maybe some day bitcoin will have some tangible value besides buying and dropping in a digital wallet, but I seriously doubt it. It failed as any kind of inflation hedge and multiple stable coin projects went up in smoke this past month. On the other hand, the technology is real and could have applicability some day in the real world.
I'm still dollar cost averaging into bitcoin but I don't ever expect it to be more than 1% of my investments. Diversification is the reason why. It's considered an asset, continues to become more widely adopted, and might be a diversifying asset among portfolios. Going all in on crypto is not a smart decision.
99% of crypto projects are flat out frauds. Maybe some day bitcoin will have some tangible value besides buying and dropping in a digital wallet, but I seriously doubt it. It failed as any kind of inflation hedge and multiple stable coin projects went up in smoke this past month. On the other hand, the technology is real and could have applicability some day in the real world.
hundredaire
New member
Re: Crypto News
Ever since I started learning about crypto (starting Jan 2021), I've learned so much about macro and fiat to the point it makes me feel sick and disgusted with the way our monetary system is managed.
I started with discovering the use case for bitcoin, then I discovered L1s, L2s, oracles, IoT, NFTs, and many other utilities. I do believe blockchain based gaming, metaverses, audio and video streaming, and cloud storage options are going to explode through this upcoming cycle.
After reading some of these comments I can see how people haven't done the due diligence required to understand crypto and its purpose(s). Hopefully the bill that Senator Lummis is trying to push through will gain traction with the majority on both sides of the isle; if not, I'd hate for us to fall behind in harnessing technology that blockchain/Web3 offer and taking advantage of the hardest asset: BTC.
Ever since I started learning about crypto (starting Jan 2021), I've learned so much about macro and fiat to the point it makes me feel sick and disgusted with the way our monetary system is managed.
I started with discovering the use case for bitcoin, then I discovered L1s, L2s, oracles, IoT, NFTs, and many other utilities. I do believe blockchain based gaming, metaverses, audio and video streaming, and cloud storage options are going to explode through this upcoming cycle.
After reading some of these comments I can see how people haven't done the due diligence required to understand crypto and its purpose(s). Hopefully the bill that Senator Lummis is trying to push through will gain traction with the majority on both sides of the isle; if not, I'd hate for us to fall behind in harnessing technology that blockchain/Web3 offer and taking advantage of the hardest asset: BTC.
Bullitt
Well-known member
Re: Crypto News
The bitcoin stories really do get laughable at times.
The latest is Riot Blockhain (RIOT) CFO calling it quits, retiring last week after holding the position for a year and half. RIOT has had four different CFO's and five different CEO's in the last five years. The stock is down 90% from it's peak in February 2021.
To make matters funnier, they announced their mining factory in Texas (the largest mining center in North America) has been shutting down due to temperatures in the 100's.
https://www.foxbusiness.com/energy/crypto-mining-texas-power-problems-nanoseconds-blockchain-exec
The bitcoin stories really do get laughable at times.
The latest is Riot Blockhain (RIOT) CFO calling it quits, retiring last week after holding the position for a year and half. RIOT has had four different CFO's and five different CEO's in the last five years. The stock is down 90% from it's peak in February 2021.
To make matters funnier, they announced their mining factory in Texas (the largest mining center in North America) has been shutting down due to temperatures in the 100's.
https://www.foxbusiness.com/energy/crypto-mining-texas-power-problems-nanoseconds-blockchain-exec
uke:
Bullitt
Well-known member
Re: Crypto News
Massive forced selling out of leveraged positions. I wonder what Michael Saylor thinks about this? A month ago he had this to say:
Hedge fund troubles elsewhere. Everything is linked. Forced selling in one sector bleeds over to other sectors. So much fraud in crypto and NFT world it's like the comic section to watch. The excitement has just begun. Pretty soon we'll be hearing about about all the celebrities that pumped NFT's and other outright frauds getting sued.
https://www.coindesk.com/business/2...-collapse-exploring-potential-options-report/
Massive forced selling out of leveraged positions. I wonder what Michael Saylor thinks about this? A month ago he had this to say:
Hedge fund troubles elsewhere. Everything is linked. Forced selling in one sector bleeds over to other sectors. So much fraud in crypto and NFT world it's like the comic section to watch. The excitement has just begun. Pretty soon we'll be hearing about about all the celebrities that pumped NFT's and other outright frauds getting sued.
https://www.coindesk.com/business/2...-collapse-exploring-potential-options-report/
Bullitt
Well-known member
Re: Crypto News
A few months old, but gives an idea of bitcoin sentiment in a survey among Goldman Sachs clients. Since March bitcoin is down over 50%, but anyone holding bitcoin will be biased to the bull side.
https://www.coindesk.com/markets/20...s-clients-reported-exposure-to-crypto-survey/
A few months old, but gives an idea of bitcoin sentiment in a survey among Goldman Sachs clients. Since March bitcoin is down over 50%, but anyone holding bitcoin will be biased to the bull side.
https://www.coindesk.com/markets/20...s-clients-reported-exposure-to-crypto-survey/
Bullitt
Well-known member
Re: Crypto News
Dimon is right. I stopped DCA'ing into bitcoin a few weeks ago. It's never made any impact on my total asset allocation and never was going to make up anywhere close to 1% of my holdings so I asked myself, "Where are we going with this?". I'll let the 20 year olds take YOLO bets on this 24/7 casino. At this point in my life, there's nothing to gain in crypto.
https://nypost.com/2022/09/22/jamie-dimon-calls-bitcoin-a-decentralized-ponzi-scheme/
Dimon is right. I stopped DCA'ing into bitcoin a few weeks ago. It's never made any impact on my total asset allocation and never was going to make up anywhere close to 1% of my holdings so I asked myself, "Where are we going with this?". I'll let the 20 year olds take YOLO bets on this 24/7 casino. At this point in my life, there's nothing to gain in crypto.
https://nypost.com/2022/09/22/jamie-dimon-calls-bitcoin-a-decentralized-ponzi-scheme/
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