CFTC Busts $44 Million Ponzi Crypto Investment Scheme
- Thread starter ajacobson
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That and a new generation is born who don't know any better because they never experienced a full bubble followed by a nasty crash.
However the old farts at the Fed and Politicians should know better, they remember the last one, so this kind of shit should only happen once every 50 years.
But it happens much more often because this group are corrupt and lining their own pockets and want to get re-elected so let every bubble inflate for as long as they can.
Looks like the whole market is crashing and not just Bitcoin.
Only someone who is foolish would think it's a bubble when it's been around for over 10 years surviving multiple crashes. Just goes to show the mindset of most who trade and how the market can mess with their own minds into making them think they know everything.
Don't be like those fools people.
Only someone who is foolish would think it's a bubble when it's been around for over 10 years surviving multiple crashes. Just goes to show the mindset of most who trade and how the market can mess with their own minds into making them think they know everything.
Don't be like those fools people.
The real problem is can BTC survive a true deleveraging of the balance sheet? The Fed has had its printer on since the collapse of Lehman Brothers so close to 14 years.
I doubt the current Fed will actually do a true deleveraging, but even a 50% reduction in their balance sheet would collapse all speculative assets.
Are you sure about that?
Bitcoin is a GLOBAL currency, it doesn't need the fed to keep it's value. Sure, the fed might bring it down a little bit, and even that will only last for so long before everyone starts realizing their money needs to be in a better store of value besides USD
If you believe it is a 100% currency only then that may be true, however currencies don't fluctuate 5-10% per day -- only currencies in freefall behave like that (Sri Lanka, Turkey, etc.). I personally believe BTC is part currency but also part commodity which explains the massive fluctuation of prices.
Remember its not just the US that has printing nonstop since the GFC, it is a global coordinated effort to do endless printing.
Remember its not just the US that has printing nonstop since the GFC, it is a global coordinated effort to do endless printing.
Bitcoin is both an asset (commodity) and a currency (medium of exchange)
Right now, BTC can be used to buy any computer product from NewEgg, luxury goods, or pay for any travel expenses at Cheapair.com or even buy a house in some places
But the most important thing BTC can purchase right now is fiat currencies (through a trading process). Fiat currencies are widely accepted worldwide
https://www.salonprivemag.com/list-of-luxury-products-that-you-can-buy-using-cryptocurrency/
Are you claiming that Bitcoin is a safe haven, completely depegged from USD? I dunno how long you've been trading/investing, but you are way off the mark IMO. Even GOLD is no longer considered a safe haven (since the money printer was turned on). Deleveraging of assets will completely bring down the entire Crypto ecosystem.