I am now a believer in Bitcoin

[Pixel--Dude]

I currently hodl 0.12 BTC and the rest are Ethereum, Cardano, etc. If you believe in any cryptocurrencies or tokens that has good projects, long term prospective, and real life case uses, then I highly suggest you invest in that Crypto. Only invest what you are willing to lose. I'm not a financial advisor. This is not real investment advice.

My ex girlfriend's father thinks Bitcoin will rocket back up again. He listens to Max Keiser a lot and he was a former banker etc. I've now got less Bitcoin than I originally invested, but I'll remain optimistic and see if the price creeps back up.

[Moretorque]

I currently hodl 0.12 BTC and the rest are Ethereum, Cardano, etc. If you believe in any cryptocurrencies or tokens that has good projects, long term prospective, and real life case uses, then I highly suggest you invest in that Crypto. Only invest what you are willing to lose. I'm not a financial advisor. This is not real investment advice.

My ex girlfriend's father thinks Bitcoin will rocket back up again. He listens to Max Keiser a lot and he was a former banker etc. I've now got less Bitcoin than I originally invested, but I'll remain optimistic and see if the price creeps back up.

The central bankers can and do manipulate whatever they want with their counterfeiting operation. BitCON from the beginning is more than likely a psyop by said bankers.

[publicduende]

My ex girlfriend's father thinks Bitcoin will rocket back up again. He listens to Max Keiser a lot and he was a former banker etc. I've now got less Bitcoin than I originally invested, but I'll remain optimistic and see if the price creeps back up.

Cryptocurrencies, NFTs and the entire blockchain/DeFi industry has had its final coup de grace during 2022. Now the world is split between those who know the whole castle of cards is a colossal fraud and won't touch it (anymore) with a 5-foot pole, and those who know exactly that yet need to prop up the market a little bit, until the hot potato is passed over to the lesser chicken and they have their chance to get off the carousel with a modest profit, or at least without huge losses.

Last year I worked for 2 blockchain companies and in 2020 I collaborated on a blockchain-associated project. Being on the other side of the fence, as a developer of some blockchain technology, was the final eye opener that basically even the most legit-looking projects, including Bitcoin and Ethereum themselves, are nothing more than sophisticated Ponzi schemes to enrich the owners/founders beyond anybody's wildest dreams, at the expense of millions of small investors who will very soon get the short end of the stick, if they haven't already.

There is nothing, absolutely nothing left to feel optimistic about. The technology doesn't work for any of the bombastic use cases promised, it doesn't scale, it doesn't offer performance, or security. Whatever can be achieved by blockchain can be achieved by much simpler systems based on distributed databases and high-performance communications channels. Most of the recent "innovation" is basically forks of existing projects with one or two hacks added to give them the semblance of something different. Or porting of an existing system under a new chain (e.g from ETH to Solana).

It's been a massive balloon filled with farts, which has been leaking all over the place. Whatever market is left, has the choice of slowly letting it deflate to irrelevance, of make it suddenly implode, with much more painful consequences for investors small and large.

Case in point, this is the price chart for Solana, one of the undisputed darlings of the past 2020-2021 crypto summer. In this 2022 alone it lost 94.5% of its value. Let this figure sink in. This was a blockchain (and associated currency) that promised to revolutionise the Decentralized Finance (DeFi) industry, offering truly decentralised services, blazing fast transactions, enhanced security, and community ownership.

[Shemp]

...castle of cards is a colossal fraud...

I'm not an expert on securities law, but my impression is that the usual laws don't apply to crypto, because it's such a novel concept. So all the things you can't do with stocks, bonds, commodities, you can do with crypto. Such as front running, spreading rumors to pump and dump, using insider information, etc. If such manipulation is indeed legal with crypto, then i would guess since sophisticated hedge funds, with AI bot trading programs, were ultimately behind a lot of crypto. That is, they financed the creation of a market they could legally manipulate, then they manipulated it, and they will continue to manipulate until no more money left to squeeze out.

[publicduende]

I'm not an expert on securities law, but my impression is that the usual laws don't apply to crypto, because it's such a novel concept. So all the things you can't do with stocks, bonds, commodities, you can do with crypto. Such as front running, spreading rumors to pump and dump, using insider information, etc. If such manipulation is indeed legal with crypto, then i would guess since sophisticated hedge funds, with AI bot trading programs, were ultimately behind a lot of crypto. That is, they financed the creation of a market they could legally manipulate, then they manipulated it, and they will continue to manipulate until no more money left to squeeze out.

Exactly. Unregulated doesn't mean "sophisticated", quite the opposite, in fact. All the marketing fuss and the (pseudo-)research papers are only a smokescreen to portray the industry as the absolute bleeding edge of financial technology and a new, life-changing form of digital economy.

In reality, saying that systems that scan millions of market characteristics per second to find alpha, or perform millions of trades or payments per second, securely and reliably, are yesterday's technology, is an insult. It's the blockchain arena who is, for the most part, populated by last minute software engineers with only circumstantial experience of high-performance, low-latency, highly-scalable financial platforms. No wonder 99.99% of their promises, whether in good faith or not, are not kept. None of the real live systems, bar a few exceptions, are truly decentralised. Those which are have an embarrassing number of problems, including security holes and poor performance.

As you said, the market is still standing for the few who are desperate to exit on a profit and for the occasional chicken who is still fool enough to believe the technobabble.

Cryptos are dead and they're not returning. Amen.

[fschmidt]

I love Bitcoin for the same reason that I love the covid vax, it destroys those dumb enough to fall for it.

[publicduende]

I love Bitcoin for the same reason that I love the covid vax, it destroys those dumb enough to fall for it.

The natural progression of the scam are the so-called Central Bank Digital Currencies (CBDCs), which are crypto tokens issued by the central banks or monetary authorities of each "sovereign" country (double quotes required because most central banks are private entities owned by other private entities - commercial and investment banks).

Virtually none of them have come out of proof of concept or prototype phases and the reason is not that the technology is obscure or hard to implement. All parties involved know full well that, if and when launched, CBDCs will find a wall of disbelief and disillusionment. Very few people will back them and even fewer will use them. They are keeping the projects warm in the barn, so to speak, waiting for global events to push towards a more authoritarian posture, which will limit people's choice. Use CBDCs or starve, that kind of thing.

[fschmidt]

The natural progression of the scam are the so-called Central Bank Digital Currencies (CBDCs), which are crypto tokens issued by the central banks or monetary authorities of each "sovereign" country (double quotes required because most central banks are private entities owned by other private entities - commercial and investment banks).

Virtually none of them have come out of proof of concept or prototype phases and the reason is not that the technology is obscure or hard to implement. All parties involved know full well that, if and when launched, CBDCs will find a wall of disbelief and disillusionment. Very few people will back them and even fewer will use them. They are keeping the projects warm in the barn, so to speak, waiting for global events to push towards a more authoritarian posture, which will limit people's choice. Use CBDCs or starve, that kind of thing.

CBDCs could work because the people are sheep. China is leading on this. If you are interested, I could ask people in China about it.

[publicduende]

CBDCs could work because the people are sheep. China is leading on this. If you are interested, I could ask people in China about it.

Well, case in point, the Digital Yuan project has been a massive "meh" from the general populace. The Chinese people are apparently happier to give their personal data to Alipay or WeChat than to the Communist government.

[Decu]

I currently hodl 0.12 BTC and the rest are Ethereum, Cardano, etc. If you believe in any cryptocurrencies or tokens that has good projects, long term prospective, and real life case uses, then I highly suggest you invest in that Crypto. Only invest what you are willing to lose. I'm not a financial advisor. This is not real investment advice.

What do you like about Cardano? Don't you think that it is a scam?

[Moretorque]

The only cryptocurrency i ever invested in was Luna but that didn't go well

The entire thing is a joke because people do not understand the purpose of running a solvent economy, they have really brainwashed the crap out of the stooges.

The Communal Dictatorship with a collective IQ of 80...!

[janamacon]

Wow, it's been a while since this post was made. I hope the original poster is still around to see how the crypto market has evolved. It's great to hear that they made a profit with Bitcoin and had a positive experience with it.

[kangarunner]

Any of you assholes got a Bitcoin strategy? I just checked the 1 month chart and if I bought $1000 of bitcoin a month ago, I would have $1400 of that shit now.

[WilliamSmith]

Any of you assholes got a Bitcoin strategy? I just checked the 1 month chart and if I bought $1000 of bitcoin a month ago, I would have $1400 of that shit now.

I'm arguably an asshole, so I'll answer:

My Bitcoin (and overall crypto) strategy is:

Wait until the crypto markets crash disastrously, use basic charting and moving averages etc. to try to ID when it's bottomed out (and look for signs of maximum pessimism and capitulation as the mainstream sentiment, though the charts are more important).

Then treat it more or less the same as other securities in a state of "maximum pessimism":

Cautiously scale in a bit with purely speculative capital that I don't mind losing (or leaving in limbo for an indefinite period), regardless of alleged "fundamentals," and entirely regardless of whether it actually has any long-run "value" or viability (though I certainly don't object, if it actually did).

Basically it's still going sideways on the long-run trend, while having entered a swing and position uptrend right now.

Then, kind of like with gold mining stocks or other high-risk / high-reward speculative plays:
Cautiously raise stops, optionally add to position after it's clearly in a chart-based uptrend (mainly after retracements, eg bouncing off a key moving average on the charts), and if/when it's made multiples of my original investment, take all my original $$ off the table, so it's all "house money" from there.

By the way: Last year when the crypto markets peaked was a pretty much ideal time to take your $$$ off the table, because hodlers were saying that "the mathematics" were essentially guaranteeing that Bitcoin would go to $364,417.38 or something (I made that # up for comedic effect, but they literally were saying "the mathematics" said it'd be over $350k) by Spring 2022, and then.... yeah, LOL.

[WilliamSmith]

By the way: How do the rest of you hold your crypto?
(Not asking for specifics, but curious if you use offline hardware wallets, exchanges, etc?)

Until when I'm ready to finally renounce USSA citizenship and sell all my property here (which I considered doing, but am not ready to choose final destinations quite yet), I personally will only buy through the most mainstream exchanges.
P.S. on exchanges:
I hope none of you trusted that f-ing kike Samuel Bankman-Fried, LOL?

Sam Bankman-Fried: Jews Will Be Jews

https://nationalvanguard.org/2022/11/sa ... l-be-jews/

Anyway, I strongly approve of crypto in theory, but ZOG banker though he may be, I've never really heard anyone debunk Jamie Dimon's basic common sense talking points on how if the government/elites/etc really want to get rid of crypto, then they will just go ahead and outlaw it regardless of whether BTC goes to $100k before it eventually goes to $0 (though I don't necessarily think it'll ever go to $0, but don't bother to speculate about that or "the fundamentals" since I do everything on charts and risk/reward tradeoff and always use stops, though those are always riskier on crypto exchanges because of the lack of SEC regulations).


If you already have multiple citizenships and are in a country where it's no problem to own crypto, though, great. Then it's (possibly) another story.

If you're stuck in just one though, and they make it a major offense or huge onerous hassle to own any, you might be cruising for a bruising by being too heavily invested as a hodlr...

As a speculator, it's another story.

P.S. Doug Casey may've drunk a lot of satanic tranny Ayn Rand kool-aid, but he's a smart guy and he wrote a good book on the basics of being a high-risk speculator, even if you're not a chartist like me. (The approach I prefer is in the booklist I posted sometime last year in that "Stock Trading is the Ideal Business" thread.)