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OT Shower thought:
It just occurred to me this morning that the goldbugs and silverbugs would absolutely *kill* to have the Average Joe public FOMO into PMs every few years, and have the MSM constantly printing bull/bear articles about it.
Kill.
Poor PMs: The Rodney Dangerfield of hedge vehicles.
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I could mention the Nightmare on Elm Streets that he was in and of course, Lost Boys....
Side note: It wasn't Johnny D. in The Lost Boys, it was Jason Patric. My favorite Depp movies are The Legend of Sleepy Hollow, Secret Window, Public Enemies, and Ed Wood. |
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WHITE HOUSE TO CRAFT BITCOIN MINING POLICY ADDRESSING ENERGY USE: REPORT The Biden administration is reportedly crafting policies intended to lower energy consumption and emissions from bitcoin mining. https://bitcoinmagazine.com/business/white-house-to-reduce-bitcoin-energy-use-reportOh gawd, what retarded bullshit is this going to be? crafted by the biggest joke administration of all of history, and by a bunch of wokeist ill informed policy creators.... messing with something they have exactly zero understanding of. Great.... this will be shitty af most likely.  |
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Arthur tends to think the bottom is in ... At the bottom, a typically impervious strong hand can be forced to sell because of uneconomical arrangements festering in their trading books. The LFG is such a seller. To puke 80,000 physical Bitcoin is quite a feat. After contemplating the nature in which these Bitcoins were sold, I am even more confident that the $25,000 — $27,000 zone for Bitcoin is this cycle’s bottom.
The market will stage impressive bear market rallies that traders nursing massive losses will sell into. Right now, many traders are sitting on positions that are down 50% to 90%. These traders are in a loss reduction mindset. They want to exit at a less bad price. They are not mentally primed to ship more capital in at these “bargain” prices. Therefore, any rally will be sold into, until the underbrush in the forest is clear and the diamond-handed apes can emerge safely from hibernation.
https://entrepreneurshandbook.co/shut-it-down-15d230b28089This will be true of the stonk market as well, as any small bear market rallies will be sold into to recoup losses. But I've read that large institutional buyers are scooping up this market bottom like crazy. So choppy sideways will continue until all the weak-handed short term traders are exhausted and flushed out. Then it'll be onwards and upwards... |
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Somehow, most people are indifferent to getting no interest.
It would have been an outrage in the 70-ies or 80-ies or even in the 90-ies, but somehow become acceptable.
An anecdote: I opened my first online brokerage account in 1997.
Do you know what was the interest on cash in my account?
4.75%, lol (with inflation at 2.3% back then and fed funds rate at 5.46%)
Now-ZERO (or some infinitesimally small number with inflation at 6-8%).
This does not make much sense.
Yes, i agree that 5-6% "bleed" in 12 mo is an uncharted territory.
I also saw a chart that shows 16% year-to-year decrease in income.
When I started seeing raise freezes in the upper middle white collar sector, and then a meager 2-3% raise thrown at people every other year or third year, and that somehow was becoming completely acceptable by the masses no outrage, I knew our entire world economy was in deep trouble. I don't think Average Joe people really get the gravity it. For example, in America the only way a 30-year mortgage on a house even works (i.e., the financial math) is you must maintain a job and get a raise in salary, every single year, that at least matches real inflation. Otherwise you will never get to the end of that mortgage and actually pay off the house, because inflation will eventually dissolve all net cash flow until you can't afford to live there anymore. But people just keep blindly signing up for them anyway with no consideration to actually owning the house in the end. |
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OT: https://www.cnbc.com/2022/05/31/jim-cramer-charts-suggest-a-very-nice-summer-for-stocks.htmlEveryone here knows that I fkn hate Jim Cramer...but here he is actually talking about Larry William's stonk market predictions. And Larry is actually pretty good with his market predictions.
Two takeaways:1. Larry Williams is expecting a summer mega bull run in the stonk market that could last at least until September. 2. We know that the Bitcoin market is somewhat correlated with stonks right now, and in this case that could actually be a good thing. We might come roaring back into the lower $40k range, perhaps even higher into $50k-ish territory. It would also firmly signal that the bottom is in. So a relief rally that is more than just a relief rally might actually float all boats, including Bitcoin. Let's see how things play out. |
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The Blue King account is clearly a bot.
Wtf are you all meriting bots here?
I have that account on /ignore, you should too.
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OT: So if you read between the lines of what prominent CEOs and corp heads are now saying, the *real* reason they now want the Fed to hike rates is revealed. Now that consumer goods prices are jacked up way higher due to "inflation", they want the Fed to raise rates so that their input costs will decrease (eg, raw goods, materials, etc.). With more rate hikes, consumer goods prices won't come down in response (of course), just the cost to manufacture will go down, increasing corporate profits even more. Neat how that works, huh?  TPTB are trying their hardest to create worldwide demand destruction for petrol. But they also created a global inflationary environment where everyone is desperately holding on to their petrol cars longer because they can't afford a new one, and also creating a hot market for selling used petrol cars faster than new ones. Hardly anyone is buying EVs because they cost too much and EV stations are nowhere to be found. Which all ironically puts even more petrol cars on the streets long term, not less. |
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I've read that the Japanese don't even fk anymore. Something something androgynous beta soyboys and uninterested Harajuku manga girls. I think their society might be doomed. |
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Bitcoin has both derivatives and fractional reserve selling at a massive scale. The exponential growth of Bitcoin was doomed roughly 3 years ago. Yes there may be a 10x again, but only if exchanges fail, pegs fail and the dollar collapses. Bitcoin is now in big-boy territory and the establishment is not going to surrender. Bitcoin's strength of decentralization is also its weakness, there is nothing to stop bad actors from corrupting the entire ecosystem.
Bitcoin derivatives and fractional reserve not nearly as massive as the global fiat debt-based financial system. Also Bitcoin hard 21M cap, compared to infinite money go brrr financial system. If another black swan like Covid happens again, you will easily see another 10x again in bitcoin's price without, as you say, exchanges, pegs, and the dollar collapsing. Also, your last sentence is completely full of shit. You trolling bro? I smell troll. |
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Third what others say: It's likely best to attempt to NOT get emotional regarding what others say about you (especially true on the interwebs), and you gather whatever information (if any) from what they say, but put it into perspective that almost anything people say is going to lack tailoring to both your actual individual financial and psychological circumstances.. even if we might account for some of your representations of those financial and psychological circumstances. Regarding psychological circumstances, we may also expect that you need to attempt to get a grasp on those matters yourself because there is ONLY so much help that any of us can do in terms of figuring out the balance - so in that regard, there may well be seeming insensitivities towards trying to figure out or to balance your psychological circumstances.. which are surely relevant, yet you are ultimately the judge regarding how to balance those kinds of matters in a way that you believe is fitting for you.
For example, right when I am writing this post, I am a bit preoccupied with another topic in the real world.. so my attention is not very focused, but I am still attempting to respond, and so when I am writing I may well have forgotten what I had already written in previous posts (and in this post), whether I expressed it very well and I might not even be able to remember what you said previously. Plus the feeling of repetition and not being able to recall if I already said that, and if there might be a better way of saying it... which ultimately leads to some lack of clarity in either what was written or what was meant.
JJG, you think so? Lol This is why you earned the title "Wordy Man"  |
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My investment time was beyond 2030. I have not lost hope I think people might misunderstand when I say I have doubt I have doubt because when I purchased that Bitcoin 1st I was shaking this was not because I was worried but because it was a uncontrollable reaction my body had when I made the order. When I got it in my exchange wallet I prolly checked the address 100 times before sending I even sent multiple "test" amounts to not fuck up.
I think this is a pretty common reaction for anyone buying bitcoin for the first time. In fact I think it is a pretty common reaction for anyone who sends btc to new addresses. There is a constant paranoia feeling that you will fat finger it and fuck up, your btc won't show up, and your coins will be somehow lost forever. The waiting for confirmations for what feels like an eternity doesn't help the feeling either. Anyone that pretends otherwise is full of shit. And incidentally, I feel that it is the main reason why Bitcoin won't ever be used primarily as a medium of exchange without a more user-friendly, mindless, easy mode for the Average Joe masses. Like sending a payment with a credit card, a bank account, or an app like Google Pay / Apple Pay at any local store. It needs to be so mindlessly easy, trusting, and instant for the masses that you don't worry that your btc won't show up. Sad news is I am not a 1st time buyer which sounds sad when I react like this. I need some software which allows you to compare 2 strings to see if they are identical that way I would not worry about cocking up the addresses which I always check many times before submitting with lower levels of btc Honestly and sadly, the best most reliable way to confirm an address is still with manual, visual confirmation. Any automated way can still be phished/hacked/changed, even in real time, and should not be relied upon. Again, this is why bitcoin as an everyday transaction medium is still not ready for the hundreds of millions of inept, tech-challenged masses out there. Because most of those people WOULD absolutely fat-finger addresses and lose their bitcoin in a heartbeat. |
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OT: Here's the type of shooting in America that you'll notice the national MSM *never* covers (ie., buries the article on their site so it doesn't hit the main webpage) because it doesn't fit their "anti-gun, disarm the citizens" agenda. Police: Woman with pistol killed man who shot at crowd of people in Charlestonhttps://wchstv.com/news/local/victim-hospitalized-in-charleston-shooting |
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My investment time was beyond 2030. I have not lost hope I think people might misunderstand when I say I have doubt I have doubt because when I purchased that Bitcoin 1st I was shaking this was not because I was worried but because it was a uncontrollable reaction my body had when I made the order. When I got it in my exchange wallet I prolly checked the address 100 times before sending I even sent multiple "test" amounts to not fuck up.
I think this is a pretty common reaction for anyone buying bitcoin for the first time. In fact I think it is a pretty common reaction for anyone who sends btc to new addresses. There is a constant paranoia feeling that you will fat finger it and fuck up, your btc won't show up, and your coins will be somehow lost forever. The waiting for confirmations for what feels like an eternity doesn't help the feeling either. Anyone that pretends otherwise is full of shit. And incidentally, I feel that it is the main reason why Bitcoin won't ever be used primarily as a medium of exchange without a more user-friendly, mindless, easy mode for the Average Joe masses. Like sending a payment with a credit card, a bank account, or an app like Google Pay / Apple Pay at any local store. It needs to be so mindlessly easy, trusting, and instant for the masses that you don't worry that your btc won't show up. |
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Great perspective even when we have had times where everything been against us like the Mt. Gox collapse we still soared higher than ever. That was early on in Bitcoin to which prolly means Bitcoin was more fragile with less people using it. Fuck cnbc they are full of shit even when covering legit stories they make up shit. Forgive me if my eyes are deceiving me but doesn't that article say that it is NOT a bear stearns moment? To even mention that (TerraLuna and Bear Stearns) in the same breath is a travesty of journalism, especially as mature and resilient as the Bitcoin market is today. I fucking hate the crypto market, if for no other reason (and there are many) than it to be continually associated in any way whatsoever with Bitcoin. The MSM keeps making the association like this: Stablecoins/Shitcoins ---> crypto ---> derivative ---> Bitcoin That would be the same as saying: Penny stocks ---> stocks ---> derivative ---> S&P 500 |
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Glad I stuck with BTC.
If you had believed any of these shouty loud mouthed YouTubers over the last 2 years during the bullrun even for just 1% you would have transferred BTC to any shitcoin or NFT that is now taking a big assed dumperoodoo.
It's crazy because out of the ones I've seen only Pomp is a full BTC maximalist.
Many others have interviewed Michael Saylor who keeps saying shitcoins are just crap yet they don't follow his advice even after 3 hour interviews.
OR they are clearly in on the scam of many of these nonsense tokens and coins.
And this is going to keep happening over and over again every Bitcoin bull run. Every cycle, there will always be new scams. There will always be new shitcoins. There will always be a new "crypto narrative". There will always be new prominent "Crypto saviors and evangelists". I guess they'll keep running this game over and over if it works...until it doesn't work anymore. Because greed, and suckers are born every minute. |
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