??? I have been talking about Tethers for years.
and yes, tons of people never even heard of stable coins
So it turns out Tether only holds 3% cash, the rest IOUs etc.
- Thread starter KINGOFSHORTS
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??? I have been talking about Tethers for years.
and yes, tons of people never even heard of stable coins
A few inches to the left or right, and that guy's head would have been evacuated from his shoulders. What a dumas.
Like this, but with the horse hoof and not a mace...
I am also the proud owner of some BTC from an average price of about 50k. I actually made some money trading ETH and then transferred it to a better exchange via BTC. Right after the transfer, it dropped, so I waited, and it dropped some more. Then I bought some more, and it dropped further. LOL
I'm sorry to hear that you got in at a bad time. I know you've been watching this space for a while
Cryptos are here to stay but depending on where your entry point is on the price cycle, you could be through some rough times, emotionally. I'm mainly talking from my own experience
I've watched a few of this girl's video and she seems aware of many things and is 1000x better than me on charts analysis, but unfortunately for her, she may not be aware of her tail risks
On one of her videos, her portfolio dropped in value by several 6 figures, which she's trying to re-balance as she has loans that she used to buy more cryptos and the impacts on collateral LTV
There is no need to leverage cryptos investments/speculations, it's already highly volatile
I'd hate for her to be liquidated...
Just sharing that sometimes your losses are not as bad during this cryptos downturn as someone who has used leverage either through futures or through borrowing (margin) trading
Thanks for your kind words. I think you are a stellar poster here and no matter how much we disagree on some topics, I have always found you to be honest and genuine.
Its a very small amount, so doesn't matter what happens. The boat to make 100x has clearly sailed, and going forward its just a matter of it BTC proves to be a store of value or not. I'm happy to say my silver is finally doing much better.
The interesting thing is that BTC hasn't crashed. Sure, down 50% is huge, and people who are out millions of dollars because of this must really be feeling the pain, but you would think that if the fundamental flaws in BTC were exposed, it should be down much more.
I will tell you what I worry about though. People always say USD has intrinsic value because it is backed by the military, which I think makes sense. USD might lose value, but its hard to say it will collapse. Likewise, I do agree that BTC is backed by the over 10,000 nodes or whatever it was. As long as you have so much money coming in to support the network, then its all good. But what happens if China really does crack down. Since 65% of the coins seem to be mined in China, using dirty coal, if all of a sudden half of the mining rigs go offline, we now have half the network. And what happens if there is a competing coin that now looks more attractive for the miners to get behind.
I guess what I'm saying is that what is more likely, the US military gets downgraded and the dollar cannot be protected, or some crypto backed up by miners diminishes in relevance? Its like asking how much faith I have in Facebook being around in 10 years. Its a dominant force now but can easily be unthroned. All you really need is more adoption for something else and that thing which had a 90% market share can one day be a 50/50 proposition, and then if it slips further, its all downhill rather quickly.
This of course won't happen overnight, but BTC is really only as strong as the network. And if that network loses momentum, then that is a very real problem. When some of the miners went offline for a day, we saw a huge drop. So if some get permanently shut down over dirty coal, it gets easier and easier to make some other coin a more dominant force. This in my opinion can easily happen within the space of one year. It literally won't take much for the tide to change to some other coin. So sure, we can watch the flow of coins from wallets to exchanges, but watching the network is just as, if not more important.
I don't think there's a 100x on bitcoin at this price. Less risk, less reward
There have been many 100x coins/tokens on cryptos in the past 2 years. High risk, high reward
(Imo) Eth has a better chance of a 100x from here than Btc
Dot or Sol or Xtz or Ada has a better chance of a 100x than Eth
A microcap crypto that was just released in the past month or 2 has a better chance of 100x than all of them, but the risks of going to $0 is also much greater
Just depends on your risk tolerance and your coin picking abilities to achieve the 100x return that you're looking for on a crypto
Regarding your China mining concerns:
https://elitetrader.com/et/threads/bitcoin-evangelists-feedback.358242/page-3#post-5376575
edit: video
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Interesting video. Its funny how the more I study the economy, the more I see that every story has both a positive and negative angle. 50% of the world population can literally be killed overnight and the news in the morning might be positive because of how this will be beneficial for the planet and open up lots of opportunity for those who made it.
But yes, I see the point about the positives of China shutting down the coal powered miners. I can see why Baron keeps buying on these dips!
