If they are all in.
Then who is going to buy?
Yahoo Finance Bitcoin is officially a new asset class: Goldman Sachs
- Thread starter johnarb
- Start date
Then who is going to buy?
No, not everyone's in,
Already took my gains. Thank you.
Markets continue to go higher mainly because of big money holding. If they hold (and not a ton of new IPO's or in the case of bitcoin less and less new coins - taking longer and longer to mine) there's is less available to sell. As well as, again in the case of bitcoin, all those Satoshi's coin sitting somewhere gathering dust as Satoshi's himself turns into dust.
Another way to look at it, cryptos are anti-fragile
This post was awesome:
"Beneath the head line: Crypto had a major, major VAR-shock test and NOTHING happened. Leverage liquidation was offset by overcollateralisation. No one was left holding the baby. No firm went under. The Fed didn't need to step in. Defi didn't break and carried on near normal"
This is so funny but well written, I have to share, from r/Buttcoin:
"I honestly can't comprehend the level of stupidity among coiners, or rather, the lengths they will go through in an effort to rationalize something so stupid and evil when they think it's going to earn them money.
Cryptocurrency is unique in how directly you can link the technology to misery and death. With cryptocurrency, the coal plants go open again, to allow fentanyl dealers and Russian ransomware gangs the freedom of laundering money concealed under the traffic of dumb schmucks speculating on a negative sum game.
They're buying Xinjiang coal-coins that are subsequently used by Russian criminals, to extort their own vital infrastructure. They're traitors to their own nation, the equivalent of a guy who opens the castle's gates for an enemy army when everyone else is asleep.
It seems to be some sort of pathology in the brains of heterosexual white men, that something that gives them power over other people per definition can't be wrong. When something grants them power, or even just the illusion of power that will ultimately merely come back to bite them in the ass, all capacity for rational thought flies out of the window.
At this point in time the early entrants have succeeded at gathering enough money to waste on hiring lobbyists to keep governments from banning the whole thing. I've seen smart economists change their tune 180 degree on cryptocurrency, when they saw an opportunity to grab that sweet bag of lobby money.
Because coiners are a subset of young heterosexual white men unique in having no real skills or other relevant contribution to offer to humanity, they're going to spend their whole lives, defending a negative sum ponzi scheme that consumes as much electricity as the Netherlands.
I've literally never met a young man who had his shit together in life, who gave a single thought about cryptocurrency. If they have some other way of fulfilling a meaningful and dignified role in society, they display no interest in digital tulip bulbs. If they have no such path in life, they're going to spend their days trying to out-swindle each other.
This "technology" that literally consists of adding a 1MB entry to a database by proving that you had to waste hundreds of thousands of dollar worth of electricity to earn the right do so belongs in the dustbin of history, next to asbestos, whale oil (stimulates the development of more whales guis!) and other expressions of human hubris.
And frankly, when a coiner draws his last breath after dying of a heat stroke in his mother's basement after overclocking his GPU's and begins his descent to the fourth layer of Dante's inferno, his gene pool belongs in that same dustbin too."
"I honestly can't comprehend the level of stupidity among coiners, or rather, the lengths they will go through in an effort to rationalize something so stupid and evil when they think it's going to earn them money.
Cryptocurrency is unique in how directly you can link the technology to misery and death. With cryptocurrency, the coal plants go open again, to allow fentanyl dealers and Russian ransomware gangs the freedom of laundering money concealed under the traffic of dumb schmucks speculating on a negative sum game.
They're buying Xinjiang coal-coins that are subsequently used by Russian criminals, to extort their own vital infrastructure. They're traitors to their own nation, the equivalent of a guy who opens the castle's gates for an enemy army when everyone else is asleep.
It seems to be some sort of pathology in the brains of heterosexual white men, that something that gives them power over other people per definition can't be wrong. When something grants them power, or even just the illusion of power that will ultimately merely come back to bite them in the ass, all capacity for rational thought flies out of the window.
At this point in time the early entrants have succeeded at gathering enough money to waste on hiring lobbyists to keep governments from banning the whole thing. I've seen smart economists change their tune 180 degree on cryptocurrency, when they saw an opportunity to grab that sweet bag of lobby money.
Because coiners are a subset of young heterosexual white men unique in having no real skills or other relevant contribution to offer to humanity, they're going to spend their whole lives, defending a negative sum ponzi scheme that consumes as much electricity as the Netherlands.
I've literally never met a young man who had his shit together in life, who gave a single thought about cryptocurrency. If they have some other way of fulfilling a meaningful and dignified role in society, they display no interest in digital tulip bulbs. If they have no such path in life, they're going to spend their days trying to out-swindle each other.
This "technology" that literally consists of adding a 1MB entry to a database by proving that you had to waste hundreds of thousands of dollar worth of electricity to earn the right do so belongs in the dustbin of history, next to asbestos, whale oil (stimulates the development of more whales guis!) and other expressions of human hubris.
And frankly, when a coiner draws his last breath after dying of a heat stroke in his mother's basement after overclocking his GPU's and begins his descent to the fourth layer of Dante's inferno, his gene pool belongs in that same dustbin too."