I remember back in 2008 during the financial crisis they kept talking about PIGS. It meant Portugal, Italy, Greece and Spain. They had a horrible recession with double digit unemployment. They had it for years even after the US economy recovered.

The high gases prices probably is nothing new. Compared to America most people there drive less and have cars with smaller engines. In America we got V8 large trucks and many commute 1-2 hours each day for work. In Greece they don’t travel as much.

So basically you read that article about that minard guy who said Bitcoin might go to $8K correct?

He had like 3-4 predictions in the past and all of them were incorrect. You would of been better to countertrade him.

When he says to buy you sell and vice versa. If anything this is a bottom signal.

You need to understand that what profits a certain coin makes now, doesn’t mean the profits will be the same in the future if everyone starts to mine that coin. Even if the price stays the same.

The supply is capped. ETH goes POS all miners will mine whatever is available and everyone will get a thinner slice of the pie.

Wonder how chaotic bitcointalk mining section will be in August.

I don’t think the difficulty will go down that much. Remember what happened to the difficulty during all the halvings? If memory serves me well they went down maybe for 1 or 2 retargets and then it went back up.

Even during bear markets the difficulty barely went down. The largest decrease I can remember is the China shutdown that occurred recently.

Basically the more price goes down… the less you will make. Price goes down by a lot but difficulty goes down slightly.

From what I read about the monkey pox it Isn’t as severe as Covid and most likely won’t lead to shutdowns. If we do have shutdowns again it might be due to some covid variant instead of the monkey pox.

Either way. I don’t think any stimulus will come. If there is more stimulus then we will be in a nasty inflation period for years to come. I don’t think the fed wants that.

Right now, in my country at least I don’t see a food shortage.

However I can see all these “food shortage” warnings all over the place are going to start a shortage when there might not be one like with toilet paper.

Here in Canada we didn’t have a baby formula shortage. However with all the US scares, I see people buying them in bulk. And stores had to finally start to limit the purchases.

The same will happen with many canned goods and products like rice with all these headlines.

The question is, how many gamers are out there looking for GPUs?

There are millions of GPUs which might hit the market soon. Is there enough gamer demand for all of them?

I am sure all these gamers will be low balling miners like crazy since they know those GPUs are not good for mining anymore and will want them at rock bottom prices.

What is the point of buying GPUs after it goes POS? I don’t think any of the current POW coins (except BTC or LTC) Have a large enough miner reward to provide a decent profit.

Even if we were in a bull market, I don’t think the profits will even come close. It’ll be like $0.05 per GPU per day. Don’t think the hashrate will drop on the other POW by much. Those with free power in 3rd world countries will still mine.

Sometimes sideways markets can be more dangerous than bear markets.

I think in a bear market, most people will hold. Maybe a few here and there will capitulate, especially those over exposed.

However those that bought a tiny percentage probably won’t. Since other assets such as stocks are down also. However if Bitcoin trades sideways for the next 6 months, I can see many getting impatient and selling out of boredom.

POW was invented by satoshi because he wanted everyone to contribute. He said 1 CPU = 1 Vote and POS is nowhere near that.

Only the rich can afford to stake and they will control most of the ETH out there. So it’s very similar to the legacy finance system.

Right now many are mining at home and it’s decentralized. When POS hits it will most likely be held by the top 1%.

Why are they doing it? Well because we have an energy shortage and mining uses tons and tons of energy and ETH dev goal was to make it more efficient.

You either like it or are against it.

The issue with the fed is this. If the stock market crashes, they might not have a choice but to cut the rate to prevent the stock market crash. This is what some people are speculating.

Rates were only raised twice by 75bps and already we are in stock market bear territory. Inflation is still high. Most likely next print will either be higher or the same. They will need to still hike, if they hike what will happen to the stock market then? And crypto will also suffer.

Yes many governments especially the fed messed everything up. But it’s one of those situations where due to covid they had to close everything and had to send people stimulus.

They sent people like what, $600 a few times. Maybe $2000-3000 in total and what was the result. Everything pretty much since then went up 20%. Let’s say you spend $10000 on Food and Gas, with inflation you are spending $2000 which is what you were given. You are not better off, nobody is. Except maybe the rich.

They gave a confirmed date of Aug 2022? Will it actually happen then? Who knows. They either very confident one week and the next week after discovering some bugs they will pull it back.

Until we have a concrete block number and it’s closer to the date, there is a chance it might get moved up. But I am already starting to see about to sell off their gear. I think depending on what GPU you got, you can still get top dollar for it before the new GPU and ETH merge comes.

I think now the correlation is something like 90%. It’s highly correlated and one of the reasons why there is usually little movement until the stock markets opens.

What we are all waiting for is basically for it to decouple and it would single the end of the bear market. No idea when that will happen. Maybe when fed cuts rates ? Maybe when China reopens? Who knows.

For now it’s highly correlated.

Yeah I made a mistake with the name. I forgot it was called EtherDelta and the Delta made it should similar especially since it also had an “E” in the half of the name.

Either way. The reason why I want to use it is mostly due to the options. Not for the BTCUSD perp futures which I can trade anywhere. There aren’t too many exchanges out there with BTC options and they seem pretty liquid.

Just wondering if anyone has any experience with delta.exchange? The volume seems low but not too low. KYC is required but just a verified phone number.

Is this exchange related to that failed Defi Deltaexchange from 2018?

Please reply if you used or are using this exchange.

From what I read when Luna classic is launched it will be without UST for obvious reasons. Now whether you should buy this or not is up to you.

Most likely it won’t be a top 10 coin anytime soon. Especially after all that happened. However many in a few years it might gain traction again. So might be a low risk high reward situation. Personally I would just stay away from it.

Keep in mind these indicators are not 100% accurate. You will rarely find an indicator to is correct maybe 25% of the time.

The issues with these indicators is that price can keep going lower and lower putting you severely underwater before it starts to reverse. That’s why you need other indicators such as price action or sentiment to make your decisions.

If all you had to do was look at an indicator we all would be billionaires. It’s not that easy.

Yes the 200WMA is one of the best indicators. It never closed below that number. Another one that you should look at is the MVRZ Score.

If you look at the past trends it predicted tops and bottoms very accurately. If you paid attention you could of sold the $65K top. When this score comes back into the range it should be when we are at the 200WMA or so. So a great buy confirmation.

I think what will happen is we will creep up to like $35K or $40K and stay there for most of the Summer. However when Fall comes around we might revisit the $25K and most likely will break it.

The stock market is going to start taking a break from all these sell offs soon in my opinion. I think most that panic sold are already out of the time. The PE ratios are finally coming down and I think the bottom is near. I don’t believe any of these “Great Depression” type of stock market crashes.