Crypto crash

[Tin basher]

Being an renowned IT Biff and a slight techno phobe I don't have any of the various crypto coins so the rise and fall doesn't really affect my life or bank balance. However it seems all is not well in the mystical world of digital money that's not really money.

Bitcoin Prices Plunge as $600 Billion Crypto Market Crash Accelerates

Bitcoin hasn't consistently traded this low since late 2020. Smaller cryptocurrencies like Solana and Dogecoin are faring even worse.

www.barrons.com

"Bitcoin has lost more than a quarter of its value in the past week,"
" Popular cryptocurrency Luna, the coin, also called Terra, lost 98 per cent of its value overnight."
I have no idea what this statement means but
"The token underpinning the Ethereum blockchain network has lost one-third of its value in the past seven days".

So how is this impacting the good folks of the Goat (if at all)

 

[Spearmint]

It doesn't affect me as I invest in the underpinning architecture rather than just buying shitcoins off the various exchanges on the back of some random horse-cumguzzling 'Influencer' offering their opinions on YouTube.

That and I don't put in what I'd miss if money got tight i.e., no job all of a sudden. Some of the collapse is down to investors being spooked, selling off as much as possible which also crashes the price. As Luna was tied to the $ and suddenly became unattached due to some movement with BTC this has had an impact on other coins and tokens but they'll recover.

Great time to go shopping if I'm being brutally honest.

 

[Cornish_Pikey]

How deeply are the Russians invested in (the money laundering schemes that are otherwise known as) cryptocurrencies and NFTs?

Very, I'd suggest and they probably need to liquidise assets in the current global situation.

 

[Tin basher]

Great time to go shopping if I'm being brutally honest.

It has been suggested today that I dip my toe in the crypto shopping market. I don't bet though not on the horses, dogs, football or crypto coins even ones called dogecoin

 

[Poutramos Poutros Poutra]

According to our local English language newspaper, the Euro is soon to become a cryptocurrency. A survey indicated that few people outside of the European Central Bank are aware of it.

 

[Spearmint]

It has been suggested today that I dip my toe in the crypto shopping market. I don't bet though not on the horses, dogs, football or crypto coins even ones called dogecoin

One of the things I do state to those interested is that the world of Cryptocurrency is essentially The Wild West. There are no Ombudsman's to go complaining to if you have made a mistake in sending something to the wrong address (double check everything) or have let your guard down when it comes to security. However, a Blockchain is a transparent public ledger and you can track transactions so sometimes that has worked in returning anything that shouldn't have been sent.

If you want to get angry have a look at Mike Maloney's 'The Hidden Secrets of Money' and dig into the malaise that is threating to (and will eventually) topple existing financial systems as if you zoom out far enough, not one system has survived and this can be tracked right back to the collapse of Greek Society during their war with Rome.

Government's around the world are on board with several pledging their own CBDC's but why wouldn't they? Cold hard cash will disappear and their control over their populations financial transactions needs to be maintained.

If you want to learn more, the information is out there (ignore the MSM) and I highly recommend (free to join) the DBM Academy who have a lot of material to be perused over that is free to access as well as a good number of paid for courses to really elevate your understanding and passive income opportunities.

 

[busby1971]

My usual refrain, bitcoins, and their like, have no real value apart from the price someone chooses to pay, when the tide goes out all you are left with an encrypted serial number.

Some counties appear to be thinking about crypto as the future, which seems to be fall into two main schools, those using existing crypto and giving up control (and taking a spanking at the moment) and others are considering using the blockchain platform to move some physical money into the virtual world.

I’m not really sold in any of the above, most currencies live in the virtual world now anyway, and it doesn’t look like Crypto is any less likely to attached by fraudsters than the current banking systems.

 

[Vushtrri]

My ‘spare’ cash is invested in 18 acres of wonderful mixed broadleaf and conifer woodland that keeps me warm in winter and gives me a place to escape to with a few beers and bratties …and cut myself off from the mad mad world. Something that ’make believe’ money can’t do..

 

[Tin basher]

One of the things I do state to those interested is that the world of Cryptocurrency is essentially The Wild West.

Seems the west is getting wilder and a bit less lucrative

Bitcoin crashes to almost $20,000 in crypto meltdown

On a day of carnage for the industry, bitcoin crashed 20 per cent towards $23,000, its lowest level for 18 months. Ethereum fell 30%.

www.thisismoney.co.uk

 

[vim_fuego]

I wish I had the inclination to read up more on this...but the only people I physically know [and see from time to time] bore on about it, about how its going to make then wealthy and how surprised they are that I am not more enthusiastic about the whole thing...and yet...they are still doing their day jobs and driving a shit family car like most else?

 

[Spearmint]

The few who have become mega multi millionaires overnight started off as lower level millionaires i.e., to make serious money in this side of things takes capital.

Just because someone is sat on say several hundred thousand in BTC, doesn't mean they have quick access to it. When (if) they choose to sell there has to be a corresponding buy order on whatever exchange they are trying to use.

What really gets my piss boiling is the sheer amount of 'Influencers' on social media who shill anything and everything with no idea on what it is they are promoting. Those vids on You Tube with a little shock faced profile picture of themselves pointing at an upwards trending chart is all I need to know to stay away from them. Fucking idiots.

On the topic of shitcoins (Doge etc, i.e., anything with no real-world utility) the real money has already been made before the general public on the open markets can buy them. To get in at the ICO stage (Initial Coin Offering) requires connections and knowing what's happening. Telegram groups are pretty good for this. At the ICO stage you'll find the coin on offer for say 10¢. At the Presale this coin will be slightly more and by the time it's released on the market it'll be another chunk of change higher. Look at any of these coins at their release, you'll see the value spike then drop off dramatically as those who brought in at the ICO stage cash out.

I don't invest in Bitcoin per se but invest in the actual infrastructure supporting it. Still high risk but I'm not as exposed to the market's shenanigans and that's without taking into account my asset diversification.

Some of my investments are:

An Israeli firm specialising in AI which plays both the Crypto and Forex markets. The Forex market is one of the most highly regulated areas in the world, you don't get to play in that pool unless you are serious. The Crypto side of it is playing even but the Forex side is growing at a rate of 5% - 10% per week.

Yield Nodes - A Master Node is something which transactions on the Blockchain move through. My node takes a 'nibble' each time on something as it passes through like a Gas fee if you will for providing the user a route. Started off with €500 in this last July and I have more than doubled my investment.

PLC Ultima - Huge in this area right now and gaining everyone's attention. It has serious utility backing up the project especially when you look at the money moving through the super car / property markets of Dubai. This means I am currently minting my own coin with a value that supercedes BTC and right now I have a couple of thousand invested. Very conservative projections on my tracking spreadsheets have me making six figures from this by mid 2024.

I've also got my fingers in a couple of other pies and my eye on a few other projects. What I'm aiming to do is not overnight wealth as that is rare but I am building several passive income streams. When the time is right I take my profits and leverage in other areas. That is how the Rich stay Rich - read Robert T Kiyosaki's book 'Rich Dad Poor Dad' to understand.