It's sooo good to know that the world's citizens can beat a flu virus. Whew. Not like the world has ever overcome the flu virus before, year after year, without complete lockdowns. /s |
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I can't change my nickname here. I am f*cked.
Ummm... year ain't over yet bro |
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Again, I expect a 40% hit on the stock market and 60% on BTC/crypto.
I see no path out here. Tis a complete 'miner capitulation' for ASIC miners IMHO because of halvnig..that's all she wrote boys and girls.
brad
Brad, I'm surprised you are even in Bitcoin to begin with. You are literally the most easily panicked Bitcoiner I know on the WO. It's a wonder you have any bitcoin left at all.  |
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People have only started panicking. We are not even in the eye of the storm yet.
That’s the spirit. Only when I contemplate not selling my stash because it isn’t worth shit anymore anyway, is the moment I know we will have hit rock bottom. The best solution for low prices still is ... lower prices  Have Tim Draper or the Winklevii sold anything yet? No? Ok I'm good then. |
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A famous nocoiner Warren Buffet said "Price is what you pay, Value is what you get." Buffet was right about this one.
This is especially true when you take the red pill and investigate why most stocks, like tech stocks, are insanely overvalued at IPO, by literal orders of magnitude (think 1000x or 10,000x the price of they should hit the market for). It's because 99.999999% of the total stock shares, in the hundreds of millions, a small group already owns before the IPO. Like a massive shitcoin pre-mine. What hits the float for exchange trade is minuscule by comparison, and even that is already leverage 100x at launch. This is why Bitcoin launched with no value, and then on to fractions of a penny, and so on... and it's still undervalued comparatively. |
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TLRY, you mean a cannabis compnay?
Yes, and I'm being sarcastic. Just look at their chart. Hell look at any public cannabis company's chart. Worst stocks to buy ever. |
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Is it time to buy TLRY? Lol
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IBM stock...ha ha... you'd have to go all the way back to 2009 to see the stock price at such low levels.
Now *that* company is a complete shit show. They have been way overvalued for two decades now. No wonder that Ginni Rometty stepped down, she presided over the biggest farce of a tech company and she knew it.
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Mummify yourself in TP and hand sanitizer for extra protection.
Full protection from coronavirus  |
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Most stocks have barely even walked back to their pre-October '19 levels yet, much less going back a year or two.
It could just be Wall Street using coronavirus as an excuse to incur an overdue correction; nothing sinister at play necessarily. Exactly. Although they wanted to insure maximum results (to short heavily), and get the Fed to drop rates to near zero. Thus coronavirus was born. |
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I still think this whole thing is all bullshit. When you look at stock charts of various companies, there was a massive run-up since about October.
The first coronavirus news hit in what, December? Gee, how convenient that timing? Somebody (insiders) obviously knew something well ahead of the public.
Most stocks have barely even walked back to their pre-October '19 levels yet, much less going back a year or two.
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Btw, the gleaming bright side to all of this crap:
Once this bear market is over (in all markets) and has bottomed, we won't see this type of thing again for a VERY long time.
Mark my words, we'll have another ten year epic bull run that will defy all gravity, logic, and common sense.
The Fed will make sure of it.
I've been wondering about that. How long will 0% interest rates and QE keep working? It seems we get diminishing returns from that nonsense. It'll only keep working for the investment banks and corps through stock buybacks and debt/equity swaps. I suppose they can keep that going for quite a long time. The markets will keep going up, because there's nowhere else for that money to go. For main street, inflation will continue to rise. |
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Btw, the gleaming bright side to all of this crap:
Once this bear market is over (in all markets) and has bottomed, we won't see this type of thing again for a VERY long time.
Mark my words, we'll have another ten year epic bull run that will defy all gravity, logic, and common sense.
The Fed will make sure of it.
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Gold is down too btw. Store of Value my ass.
Ha! I bet Peter Schiff woke up, checked the BTC price, took a victory lap, and started writing another article about how Bitcoin isn't a "safe haven" like Gold... ...and then checked the metals price.  |
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BTC was designed to shine in a moment like this.
It was designed to be a peer-to-peer version of electronic cash, not a "store of value" or something people buy and hope goes up in value so they can sell it at a higher price. The only thing we know for sure is that if bitcoin loses value, it won't be due to its own inflation. You guys can play the whole "Bitcoin was designed for..." debate all you want. But the bottom line is this: no one is going to buy Bitcoin at a 1.5% broker cost, wait 4 business days to receive it, go through the hassle to use it as a version of "electronic cash" to purchase something over the internet (at VERY limited merchants, mind you), without at least recouping their 1.5% broker cost for all the trouble (not to mention transaction fees, if any). Thus the need for it to go up in price from whence they purchased, and this requires holding. And they sure as shit aren't going to use it immediately as "electronic cash" if they find themselves severely underwater. Because then what is the point? (Can you tell that I'm so over this PTP electronic cash vs. store of value debate? It's both.) |
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Same fear, different year  |
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So other than the coronavirus, what was your "tell" that they were ready to crash the market?
Mine was the bogus run up in Tesla stock. They always run the market up right before crashing it with FUD.
Wake me up when Tesla is back to ~$250/share, where it should be. Then I'll know the shorts are done.
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