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re: Official CryptoTalk Thread
Posted on 6/19/22 at 9:38 pm to ronricks
Posted on 6/19/22 at 9:38 pm to ronricks
quote:Definitely, more pain is expected in this space.
Have you not been paying attention to the absolute desperate corporate messaging these exchanges have been sending out almost daily?
quote:Also agreed, the leverage needs to be flushed out of the system for its own health
They don’t have the money to cover withdrawals. They are leveraged on a bunch of shitcoins (hint they are all shitcoins even BTC and ETH)
You think those two points above will send BTC and ETH to zero though?
quote:
Posted on 6/19/22 at 6:28 pm to LSURulzSEC
ETH like BTC is headed to Zero.
1
Posted on 6/19/22 at 9:51 pm to j1897
quote:
Just a different way of thinking. Was in a sleezeball gas station in OK today, they had a bitcoin machine that said "buy bitcoin" which is odd, since it's a currency right. You don't buy currency, you exchange it. But either way, as i sat there pissed they don't sell Dr Pepper, i thought why not have a machine that just sells fractional shares of SPY. shite you could even accept fractional shares of SPY as payment. Aside from the ledger, you're doing the same thing crypto is doing, with the exception that spy is backed by dividends and to a very minor extent, physical assets. Some people don't get it, and i can see their reasoning. I do own eth, it's worth almost nothing now :(
Posted on 6/19/22 at 10:54 pm to TigerDeBaiter
What he's saying makes somewhat sense. 
It would basically be the equivalent of logging on to Fidelity though. I mean you can already buy fractional shares. You would just have to market it to the gas station market.
It would basically be the equivalent of logging on to Fidelity though. I mean you can already buy fractional shares. You would just have to market it to the gas station market.
Posted on 6/20/22 at 1:25 am to ronricks
quote:
ETH like BTC is headed to Zero. You guys are living in a fantasy land with all this rationalization and wishcasting. It’s over. The game is up.
You're entitled to your wrong opinion that no one asked for, but this isn't a crypto debate thread.
This post was edited on 6/20/22 at 1:45 am
Posted on 6/20/22 at 4:31 am to TigerTatorTots
quote:
You think those two points above will send BTC and ETH to zero though?
Triple T,
I think at least 4 of the major exchanges becoming insolvent by the end of the year will make BTC go to Zero. We aren’t even into the real pain yet and an economic storm is coming. BTC while originally a good ‘theory’ hasn’t proven to be what people claimed it was. It is crashing in a recession just like everything else is (and will be)
I don’t think this is all bad for you guys and this is why (and others have mentioned it) it will absolutely flush out 95% of the shitcoins and other outright scams that are going on in the space which in theory would leave BTC and maybe one other ‘coin’ standing and the space will essentially ‘reset’ and start all over. I don’t dislike or hate BTC there are just too many shady people and outright hucksters involved in it.
Posted on 6/20/22 at 7:42 am to ronricks
quote:
it will absolutely flush out 95% of the shitcoins and other outright scams that are going on in the space
It's a good thing and we welcome it.
Posted on 6/20/22 at 8:04 am to ronricks
Dude come on it’s not going go zero, that’s absurd. I’m not a fan of crypto but there is zero chance it goes to zero.
Posted on 6/20/22 at 9:59 am to Fox McCloud
quote:
Dude come on it’s not going go zero, that’s absurd. I’m not a fan of crypto but there is zero chance it goes to zero.
Exactly - even the mega bitcoin bears aren't dumb enough to think its going to zeroPosted on 6/20/22 at 10:02 am to TigerTatorTots
quote:
Exactly - even the mega bitcoin bears aren't dumb enough to think its going to zero
btc going to 0 is somehow more retarded than btc going to 1,000,000 this bull run!
Posted on 6/21/22 at 8:26 am to AMS
quote:
JUST IN: #Solana-based protocol Solend has voted to temporarily control the largest whale's account to mitigate liquidation risks.
Surprised this didn't get mentioned here. I think they reversed their stance but the fact that they have the ability to do this has to be a red flag.
Posted on 6/21/22 at 12:17 pm to bayoubengals88
Posted on 6/21/22 at 12:32 pm to 21JumpStreet
Yea SOL is basically still a beta chain.
Posted on 6/22/22 at 4:22 pm to Fox McCloud
quote:
Dude come on it’s not going go zero, that’s absurd. I’m not a fan of crypto but there is zero chance it goes to zero.
You would have me believe that the Chinese govt. would lie to the world?
quote:
The global cryptocurrency industry's latest meltdown has prompted fresh warning in China that the value of bitcoin could drop much further and be worth nothing, as Beijing renewed efforts to dissuade Chinese investors from all crypto-related activities.
An article published on Wednesday by the Economic Daily, a newspaper directly under the Central Committee of the ruling Chinese Communist Party, said investors should beware the risk of bitcoin prices "heading to zero" amid the recent decline of the world's first and leading cryptocurrency.
"Bitcoin is nothing more than a string of digital codes, and its returns mainly come from buying low and selling high, In the future, once investors' confidence collapses or when sovereign countries declare bitcoin illegal, it will return to its original value, which is utterly worthless."
Posted on 6/22/22 at 4:40 pm to TigerintheNO
Nothing new. Anyone who follows crypto in the slightest knows China ALWAYS pushes out smoke to buy the dip.
Posted on 6/22/22 at 5:06 pm to TigerintheNO
they banned it about 1000 times
Posted on 6/22/22 at 5:12 pm to 21JumpStreet
quote:Yes. Reversed. But i'd never touch this chain. It's either shutdown or some bs like this. No thank you.
Surprised this didn't get mentioned here. I think they reversed their stance but the fact that they have the ability to do this has to be a red flag.
Posted on 6/22/22 at 5:34 pm to TigerintheNO
You realize China has banned bitcoin 7 times now?
Posted on 6/22/22 at 6:05 pm to TigerintheNO
I don't believe anything china says about anything at all. They could tell me the sky is blue and I'd doubt it.
Posted on 6/22/22 at 6:28 pm to j1897
Bitcoin is property, not currency
Money /store of value
Can be used as currency - but not it’s purpose
Oh, and btw, you ever been to an airport and bought foreign currency before? shite ain’t exactly as strange as you make it out to be
Money /store of value
Can be used as currency - but not it’s purpose
Oh, and btw, you ever been to an airport and bought foreign currency before? shite ain’t exactly as strange as you make it out to be
Posted on 6/22/22 at 6:31 pm to Shankopotomus
Bitcoin is whatever anyone wants it to be at this point
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