He has been bearish about crypto since the beginning pretty much. And honestly when I first heard about Bitcoin I also assumed it was a scam. Then I learnt more about it and realized that it has very good value.

For someone like Buffet, if you give him the white paper, he won’t make it a sentence before scratching his head out of confusion. He wont get it even if you explain it to him 100 times.

Since he doesn’t understand it, he wont buy it because it’s a risky investment. Many people need to understand this.

Most people I know personally all have gotten out of crypto and stocks. They all sold because they want to rebuy lower for half. They are also pretty convinced that there will be a recession soon. Everywhere you go people are talking about a recession.

One thing I learnt about the markets is that if the retail market all thinks one thing, then most likely it won’t happen. So who knows when the bottom will be. There is a good chance that maybe it already bottomed out since people are so bearish now.

Yeah those voltage switches sure brings back memories of when I was building computers as a kid. Then I saw that PSU never came with those switches. The PSU automatically detects the voltage and automatically switches.

I actually for fun tried mining with those silver box OEM PSU. It actually worked but efficiency was horrible. From the wall it used 300 watts but only actually 200 watts to the rig. And after maybe a day or two it stopped working all together. So definitely can’t use them for mining.

Depending on the coin you can lend it out with the exchange you are using. You will get some % that way.

If you sell and hold USDT then you will get the most lending out tether. However now it’s not as high as it was the in the past.

I remember last year I think you could of net 3-4% in the month of May 2021 just by lending it out. Now a days it’s completely different story. Only works during bull markets.

No idea who follows stocks but today was a horrible day in the markets. Just like last Friday.
Seems that there is less liquidity and seeing almost close to -10% drops on Large cap stocks like Amazon and Tesla seem to be the norm.

During bull markets it’s never normal to get a -10% or +10% day. However we get these days every week pretty much.

Many bulls are completely battered and calling it quits and accepting that a recession is about to follow.

There is a relationship. Right now every crypto trader looks for 2 things every month. One is the fed meeting and decision and another is the CPI print.
Usually prior the markets are very flat and become very volatile after the reports are out. Even though it has nothing to benefit from either, traders are taking those reports as a way to gauge their trading decision.

I’ve been following his negative speech towards Bitcoin for years. And I don’t know why people expect him to one day wake up and say he loves Bitcoin, it won’t happen.

He has a very strict investment protocol and Bitcoin is just too advanced for him. Same with airlines. He doesn’t like to invest in airlines and last time he did he ended up losing some money by selling too early.

With Bitcoin it’s no different. He is just too old to understand how it works.

We already know that the fed will keep raising rates till the end of the year, we will end up at like 2.5% or so. So this is all priced in.

Many people knew about this last week when it was hinted that tapering is ending and rates will have to go up. The stock market with Bitcoin priced it in.

Only time that a fed meeting will have a big affect is if they do a surprise hike, or raise by more or less than 50bps. But right now everybody is expecting these 50bps hikes to go on.

With what happened today after the fed rate it’s proof that we will range a little while longer while following what the us stock indices are doing.

Been a choppy week for both Bitcoin and stocks however after today’s speech both had a very healthy rally. However I just think we will keep ranging.

I don’t see stocks or Bitcoin going any lower or breaking the ATH within the next 3 months or so. Will be mostly choppy like it’s been for the past few months.

This will not work for many people. Take people who live in New York City for example. They don’t own a home with a large garden. They can’t grow any food and vegetables.

Another issue is the weather. Many fruits and vegetables can only grow in certain climates. So you can’t rely on growing your own food year round if you live where it’s cold in the winter which is how it is with many people.

Yes it’s crazy what is happening and what is worse for farmers is also the price of diesel. Even though crude oil is around $100 the price of diesel in many prices is at ATH due to the war in Europe.

Something to do with the cold spring climate and how diesel is used for heating instead of natural gas which Russia is not supplying. So in many parts of the country price of diesel is very expensive and most farm machinery needs diesel.

Went to Costco the other day and found out that they want $20 CAD for a Watermelon, crazy pricing.

It’s seems like a good price given it’s 8gb. Just make sure it’s not a scam. Maybe it’s not because many miners are calling it quits due to the profitability lately.

I had a bunch of the 4GB models and sold them for around $120-150 back when the 4GB still mined Ethereum. So it’s crazy how many years they have held up their value.

Today was a crazy day with ETH. Like the above poster said it was the BAYC NFT and the transactions fees were nuts. I think at one point it was like 4000 GWEI and something like $70M worth of ETH burned today alone due to these transactions.

People are saying they were handled poorly and could of been some gas savings if they did the transactions a little different however it was done in a poor way and so much ETH was wasted on fees alone today.

Good for miners I guess.

Honestly, most are useless. Even those gaming tokens, they are a good idea however the games are horrible and don’t really add much in reality.

I think most of the reasons why many of these tokens or altcoins pump it’s due to speculation. Most of tokens have good marketing and traders see that it might pump in the future and that’s why they buy it.

However outside of BTC, ETH or stablecoins which altcoin did you actually use in the past to buy goods and services? Probably none.

Bitcoin going to $20K is not the same as the Dow Jones losing 80% of its value. Even in a huge Great Depression the index would never go that low. The covid low was a perfect example, there was tons of fear of life ending due to the visit but the markets didn’t dip that much. Why would it go lower now?

Nasdaq is different, it’s mostly tech stocks which have huge losses at the moment because they were over valued however the Dow is only top 30 blue chip companies and it’s much more stable. I won’t have a 80% drawdown.

Well we got our monthly close and it looks awful. Basically there is no wick and I don’t think there was ever any red candle like this. What this implies is who sell pressure and means that Bitcoin will most likely head lower.

Most likely we won’t get an immediate reverse and turn bullish. I think we need to retest those pivots and see if the lows hold this time and eventually hoping that the $28K area doesn’t get broken.

Either way going to be a big week since the fed is raising rates this week by 50bps. Wonder how the markets will react.

I remember back in November of last year everybody was super bullish. They couldn’t wait to buy Bitcoin or certain stocks. Now right now the sentiment is completely opposite, everybody is calling for a crash or a recession.

Yes Bitcoin looks weak however it still held up better than most other assets. So if you are thinking it’s going to go lower to catch a bottom you might miss it. We all want Bitcoin to crash to like $20k so we can buy the dip however there is a possibility that it won’t happen.

Reason why these large cap companies are getting these nasty 20-30% dumps in a single day is due to a higher than normal volatility which results in lower liquidity.

Generally when VIX index is high, it means lots of volatility, and in return it has less liquidity. Coupled with the fact that many people mostly retail bought all these stocks on leverage, it caused a cascading liquidation event, similar to crypto.

Another reason is they were overvalued to begin with. Their PE ratio was very high and this is not surprising. A few more weeks and it’s a good area to long.

Honestly I think we will most likely see a repeat of 2018, where the entire summer is range bound trading. Then late October or November will come around and we will get out move.

However nobody knows which way the move will be. People are already bearish now and people are expecting $20K Bitcoin and they will long there. However with this many bearish sentiment I don’t know if that will happen. Either way it would be a perfect long setup especially if it revisited the 200 wma.

It depends on how the stock market does next week. Most likely if we keep getting bad earnings then most likely it will drag Bitcoin down also and it will end up breaking that pivot.

Or since everything is majority oversold there is a good chance we will get a dead cat bounce next week and we will get some relief. However with the situation in Ukraine and China still unresolved I don’t think it will be a bullish May month.