re: Why is crypto crashing?

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Very different with all of the above.

Gold and silver- not a big investor but I can appreciate their value as commodities. Humans need metals. I know that there is demand and limited supply. I trust the markets that they trade albeit I think there are times where the market value gets out of whack. Again, not a big investor.

Land and real estate- I am an investor and owner. I can appreciate the supply and demand equation. Humans have a need for shelter. They need land. Building costs are real (albeit I suspect lumber prices got out of whack due to market manipulation for a while)
Land is finite. I have learned some tricks on how to create value. I know and trust the markets that I own and invest.

The other items are not things that I invest in. Humans don’t need cards, art, or antiques. I do own antiques, fine art, guns, and other collectibles but not as trading items. I know people that do it. I struggle with the demand side of those things. I know Monet art has value but personally I am not attracted to it.
I did trade guns and ammo for a bit and had fun with it. I played the political angles and it worked out well. I trusted gunbroker as a market and still do.

Crypto currency- I don’t NEED it. Does anyone?
I read your replies about how you value crypto currency (bitcoin) but I think it lacks substance. What exactly do you use to measure the market value against the actual value?

When bitcoin was at 66,000 versus the usd, did you view it as overvalued? Why or why not?
How about now at 29,000? Guessing you think it’s undervalued. Why or why not?

Why is bitcoin crashing?

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You are using quite a few similarities when comparing crypto to these other assets:
demand, limited supply, finite supply, trust

These things all apply to crypto. Crypto is just the next frontier of technology which is why most people don't understand it. Decentralized, trustless systems should be a conservative's wet dream. I'm not sure why the conservatives on this board not only reject it, but some even hope investors lose money.

After reading that, it just sounds like trust is a big thing for you and your investments. Crypto is new with limited history so you don't trust it, fair enough.

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Crypto currency- I don’t NEED it. Does anyone?

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No, crypto is bullshite. Bitcoin is all I'm talking about. No one "needs" Visa or Mastercard, or Western Union or Fedwire, but they perform a service for billions around the world. Bitcoin can improve on that service.

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What exactly do you use to measure the market value against the actual value?

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Can't put a pin point measurement on it like you can a P/E or book value of a company. You can sit back and see the potential, see the current market penetration, and understand the potential influx of investment should the technology continue to gain adoption. The asset is scarce - there are only 21 million that will ever exist (actual estimates are around 16 million due to coins lost forever). There are ~60 million millionaires in the world. If adoption continues at its current pace, the demand will be far outpacing available supply.

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Why is bitcoin crashing?

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A combo of a few things - equities are crashing, bitcoin has been correlated in its young existence to equities. It tends to swing with more volatility on the high side and low side though. Alt coins (what you probably call crypto, I call shite coins) are hemorrhaging and as we saw in 2018, bitcoin was sold off to cover losses in the shitcoins. We see this in stocks as well - great names fall in bear markets a lot of times to cover investors bad bets. Regulatory uncertainty - there has been a lot of smoke lately about regulations needing to be passes so there is extreme hesitation from additional institutional level players until there is clarity.

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Interesting, so now, your comparison is to the USD?

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Well ackchually I can hold dollars in my hand bro



^Jon Ham

Around in circles we go

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A combo of a few things - equities are crashing,

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Here’s the thing.
Bitcoin is not an equity. It’s a currency.
Currency should be stable.
Why is the bitcoin currency crashing?

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Currency should be stable.

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Name one currency on the planet that's stable.

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Name one currency on the planet that's stable

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.

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I don't believe the word currency was ever used to describe it in the bitcoin white paper.

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It wasn't. In fact, the word "Currency" was used once describing physical currencies.

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These costs and payment uncertainties can be avoided in person by using physical currency, but no mechanism exists to make payments over a communications channel without a trusted party.

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Hopefully we are done with that now that we have put to bed the “currency” subject

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When I say that I want my currency to be stable, it’s all relative and who could argue that the USD is NOT stable?

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Your ability to buy food and gas with USD was cut in half in a year.

Cumulative inflation from 1956 to 2021 896.82%

What is stable about USD? It's complete crap.