With the amount of bearish sentiment in the room I presume some of you have opened massive short positions on btc?
Sounds like a tithe.I was pretty young and impressionable at the time. I really believed the senior bank leaders who would tell us we were helping our customers. I didn't realize until later that they were just preying on the public and padding their bonus checks. After moving to foreclosure compliance and regulation I unfortunately had to see the fruits of our labor.
To tie it back to crypto. Based on my experience and the complete debacle that was 08 I no longer trust the government/banking system with my entire financial life. Therefore, I decided to take a small chunk and put it in the hands of immutable code, math, and an increasing number of global users.
Goodbye usdd and Tron. You're next
People furiously writing and then erasing 1s and 0s, taking orders over a landlines. That's why a transaction takes 10 minutes.Ok, Coinbase laid off 1,100 people. Why the heck does a crypto exchange have 1,100 employees? It's not like they are exchanging things by hand.
I've known people who have shorted on the board of trade, and still lost a ton of money.With the amount of bearish sentiment in the room I presume some of you have opened massive short positions on btc?
Bearish on the whole market, I think the average EPS of SPY over the long haul puts it at a value of about $315 so could be a long ways to go for the whole market. But I won't short anything ever, scares the **** out of me. I can lose money safer as a bull.With the amount of bearish sentiment in the room I presume some of you have opened massive short positions on btc?
Just because someone doesn't run into the room as a bull doesn't mean they short or think the asset is worth shorting. I myself don't short out of principal - I have no interest in succeeding at another's failure; that said, I liquidated all of my crypto assets (not many) back in February and have been glad to be on the sidelines for this latest downturn.With the amount of bearish sentiment in the room I presume some of you have opened massive short positions on btc?
Just because someone doesn't run into the room as a bull doesn't mean they short or think the asset is worth shorting. I myself don't short out of principal - I have no interest in succeeding at another's failure; that said, I liquidated all of my crypto assets (not many) back in February and have been glad to be on the sidelines for this latest downturn.
BTC might yet have it's 'day in the sun', I'm still not convinced it'll be anytime soon - as you said "not your wallet, not your crypto" and who really wants to manage the hoops required to hold these types of assets in today's day and age - same reason I didn't own any BTC after it's price crashed in the early 2010's. Even the most 'savvy' have horror stories of lost hard drives, thumb drives, etc. with 'thousands' of dollars 'worth' of BTC. I hope this downturn is brief and you can laugh at all of us on CF from a beachside home in Tahiti, but to suggest someone who is bearish has an ulterior motive as a short on a message board 'dedicated' to Cyclone sports is DUMB.
I thought one of the benefits of crypto currencies protection from the actions of central banks. That's doesn't appear to be case. With the current inflation rates it should be cryptos time to shine.
The dramatic drop in value is putting the "cry" in crypto. (Sorry, I couldn't resist.)
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Bitcoin came close to falling below $20,000 as investors continue to flee cryptocurrencies
Bitcoin's price plunged very close to $20,000 Wednesday as cryptocurrencies sank deeper into the red.www.cnbc.com
If you want to see some interesting, crazy, and sad stuff check out the Celsius Reddit page. It’s an interesting read just ti see the psychological tricks people will play to retain hope - “hiring restructuring lawyers is a good thing!”, and “please shady billionaire who ran a Ponzi scheme, l know you will look out for us investors since you said so on an AMA (back when he was taking you into investing).” You can see all stages of grief in the posts including, weirdly, deal making.
I never imagined so many people would put so much of their life savings into unregulated risky financial investors. I can’t help but feel bad for them but also completely dumbfounded by the risk people take. One guy lamented that this would destroy his family since he put his wife’s entire retirement savings on Celsius. Crazy.
With the amount of bearish sentiment in the room I presume some of you have opened massive short positions on btc?
I wasn't familiar with Celsius or their current issues. This video did a nice job of explaining it.
100% based on greater fool theory. Bill Gates not fooled.
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Bill Gates says crypto and NFTs are a sham
Don't count Bill Gates among the fans of cryptocurrencies and NFTs.www.cnn.com