Thanks for the links. Probably the most telling paragraph, from the guardian article:

Every token has its own “community” of loyal holders who congregate in project-specific Discord or Telegram channels to talk about the road map, to ask questions, or, as often happens, to complain about the price (“Why is price going down? Any news?”). Admins serve as the bridge between the project team and the community and share updates. For some projects, community support can resemble something like religious faith, insofar as the devotion on display seems incommensurate with the project’s outputs. Imagine an Amazon-run Telegram channel where thousands of Amazon stockholders gather to make friends, cheer on the launch of a new service, or squawk at company reps when they aren’t responsive enough. You can’t. It would never happen. But it happens here, in crypto.

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This is thrilling, even if it's a bit vacuous and self-important. Plus you get to know yet another brisk and bristly futurist/ geostrategist! Peter Zeihan is all over the place for me, especially once I watch and post this up here. Oh, the fun... Can I be influencer, too? Some people who follow his stuff point out that he tends to use linear models too much in extrapolating.



All of a sudden I'm getting a lot of these weird "worry about everything" feeds. I'd start to get paranoid if I didn't already realize youtubers post stuff because they believe they may be able to monetize it.

Geostrategists, man! What did we ever do without them previously? Oh, wait. Maybe this is not a new thing.

Ain’t no way to run a nation.

El Salvador expected to default as bitcoin plummets | Economy and Business | EL PAÍS English Edition

The Salvadoran experiment to make bitcoin legal currency has hit a wall. As a result of the fall in global markets caused by the uncertainty of the war in Ukraine, rising inflation and the US Federal Reserve’s decision to raise interest rates, the price of the most popular cryptocurrency in the world has plummeted more than 50% from its all-time highs. And with it, so too have the bonds of the government of El Salvador, which are trading at 40% of their original value, as investors start to doubt whether the country can meet its next debt payment.

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It'll be all right. They'll just buy the dip. Diamond hands to the Moon.

The craziest thing just happened in crypto.

Luna, a top 5 crypto was decimated in less than 1 week.

Just a few days ago it was at $90, today it's barely 10 cents. 18 billion dollars of market valuation went down the toilet faster than you can flush the toilet.

This is what people skeptical of crypto claims have been saying: it's easily as volatile as any other money, and has far less protection.

Crypto as architectural metaphor




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There are two things you need to know about stablecoins. They're not stable and they're not coins.

crypto is dead now.

problem is, since institutions who control the stock market are also into crypto, both crypto and stock market sort of move in lock step, so both investments will get liquidated.

This is probably the start of Great Depression 2.

I think we've had enough predictive pontifications about the future of the economy from the perspective of cryptocurrencies, don't you? It's like Harold fucking Camping in the information age.

quas wrote:crypto is dead now.

problem is, since institutions who control the stock market are also into crypto, both crypto and stock market sort of move in lock step, so both investments will get liquidated.

This is probably the start of Great Depression 2.

Was it ever really alive? Reports of its life were greatly exaggerated IMHO

From the beginning here, back in early 2019, I informed you all that bitcoin rises and falls in 4-yearly cycles due to something called a 'halving event'. The fact that 2022 was predicted to be the next big bear market year, just as 2021 was predicted to be the next big bull market year, is just 'a fact' that can be extrapolated from any reasonable analysis of the charts, even today.

In previous bear markets, the bitcoin price dropped by 80+ percent from previous all-time highs. As of this date, the bitcoin price has dropped about 70 percent from its ATH in 2021. This data suggests that more pain is probably going to happen in the next few months.

HOWEVER, any reasonable appraisal of the predictions/charts to this date do NOT suggest that "crypto is dead". Rather, only, that crypto is doing precisely and exactly that which anyone who knew anything about it, would have expected.

So, spare me the bereavement messages bullshit. There is no evidence yet that ANY of them are justified.

What we have here is a period of extreme financial stress across the board encompassing the whole world. War, famine, plague, it's all happening!

YET, I put it to you that bitcoin was expected to drop by 80+ percent this year even if Jesus put in a second appearance or Mary Poppins became the president of the USA!

Therefore, I would ask you all to desist from making UNreasonable announcements about bitcoin right now. The data does not support your bullshit! Fact.

The world is in a bit of a crisis right now, I hope you agree. Which I personally can see no meaningful recovery from if we retain the status quo. In fact, I expect it to get much worse. What you need to have your eye on, is the end of that crisis. Alongside the charts, which predict that the next ultimate ATH for bitcoin will happen in 2025. As ratskeps, people who supposedly support rational information until it is proven wrong, I have yet to witness a single rational argument here which proves that bitcoin is a failed project. Time/events might yet prove me wrong, but there's no event nor chart data nor argument thus far to support any such opinion.

ALL I am seeing here is emotional bias sprinkled with strong fear.

These are bad times, gents (I see no ladies here). I want you to know that I personally am preparing to buy the next bear market low for this cycle. I'm not yet sure when that will be, but it should be happening within the next handful of months.
I will make an announcement about this if/when I take the plunge.

"DATA!!1!11"

So since this was so firmly predicted I assume you bailed at the peak ...

Macdoc wrote:So since this was so firmly predicted I assume you bailed at the peak ...

Of course not, because predicting the peak day would require a crystal ball. I have only ever spoken in terms of years, or periods of months, with any kind of certainty.

The_Metatron wrote:Bill Gates doesn’t touch it. Not in short or long term.

This man has more money to literally burn than most people can understand. If you won’t bother to pick up a nickel or a dime off the sidewalk, that five or ten cents scales up to a pile of $45K in cash for him.

And, he burns none of it on crypto.

Or, we could listen to Jamest. Bill Gates or Jamest on things money. The decision is yours.

Bill Gates is a cunt. I hold him significantly responsible for the world's present financial meltdown for promoting worldwide panic at the onset of covid-19 with his vaccine rhetoric.

Bill Gates doesn't give a fuck about which asset/currency you care to measure his wealth against. Even if sweaty shoes become the next reserve currency of the world, his primary concern is in making sure that there's enough demand for his ideas/products for him to acquire billions of them. So spare me the bullshit, as Gates isn't a currency trader.

jamest wrote:From the beginning here, back in early 2019, I informed you all...

I can't read the rest of this because it's going to be a revision of history, and I can't bear liars.

Just show your results James. Have you done well or not?