It’s does affect most of the rich. Most businesses and real estate is owned by the rich. If there is a recession then they will get less sales and make less money. Some might lose their job and not be able to pay rent. This is not a good situation.

Only people that might benefit are those funds which shorted the top of the stock market and bought everything back very cheap and entered a long position. However this is a small amount of the rich population. Those with business interests will do poorly in a recession.

If you want the long story short? You won’t make any money off them. They are typically scams.

If they actually worked the developer would just use it himself instead of giving away for free or a small fee. You would be pretty much in competition and he would make less money, so why give away a strategy that works.

You just gotta learn to trade on your own.

As much as we all would love to abandon all banks. This digital age you simply can’t.

Let’s say your house is paid off so you don’t need a bank for a mortgage. How will you pay all your bills? You got a power bill, the bill is usually paid by online banking. You can’t drive to your power company and pay cash. Sometimes you can pay your power bill with your credit card. But without a bank how will you get a credit card?

It’s simply not possible this day and age. Maybe 20-30 years ago it was possible but these days it would be too difficult.

Bitcoin is not a good hedge against risk off environment. Prior to 2020, Bitcoin was never traded during a recession. It was created after the housing crisis and people for years were saying that during a recession stocks will go down but Bitcoin will go up.

After March 2020 we saw that it clearly wasn’t the case. When the stock market took a nasty dip, so did the crypto markets. Since they we saw it basically trade like a tech stock and it does so today. So during a recession most stocks will be down and so will crypto.

On low time frames like the 1 minute chart the markets are very random. Not too many people can make money trading like that unless they got some insider knowledge.

However long time frames like hourly or daily do give you an edge. Many traders around the world look at the same chart and if everyone seems the same outcome they will buy in the same area and hence it’s possible to make money that way.

However most traders are impatient and want to trade the 1m chart and think they will get rich of it. Doesn’t work like that.

$400 for 60 days is pretty impressive with a bank. A year ago when the premiums were high for USDT loans I remember making something like 5% a month. Now the premiums went down a lot. So there is not much you can do with your Tether except just keep it in your cold storage and perhaps buy Bitcoin if it ever becomes cheap again like $20k or $15k even.

Here we got some banks that pay like $300 just by opening an account and getting your employement deposits with them. Most likely got a similar hold of 60-90 Days. I think the min balance is only like $3k however. Not $20K. Most people don’t have $20K laying around saved up these days.

Very small amount is in USDT or USDC. There weren’t that many people that used their stimulus money to buy Bitcoin. Many bought stocks with it and such. Some bought food and cars but I think the majority of it went to the rich pretty much and hasn’t moved since.

Due to this money printing look how many people struggle while the gap widen with the ultra rich. They got more money than ever now and inflation is still out of control. That’s where most of it went.

I wonder what the outcome will be of this. Basically seems like a good stock option play. Price will either go to his buy out price or will go back to where it was before he purchased it.

Obviously if they don’t let him buy it he will dump his shares, why wouldn’t he. And since the share holders don’t want that they are in a big pickle.

Either way, I see no harm in letting him take over. He is a very smart man and can help Twitter grow. However I see why people are concerned.

Many people are starting to consider that 2022 will be a repeat of 2018. Basically a slow grind down. And sometimes in the last quarter of the year a huge crash down to the $20K areas and more sideways action before bottoming and rallying up in the Spring.

I think if it does happen then the 200 WMA would be a great area for a Bitcoin long. Currently it’s at $20K and rises every week. When Bitcoin crashed in late 2018, it was this moving average that held support.

Even though Bitcoin is international and trades 24 hours, most of its largest moves are happening in the NY session right before and after when the NYSE opens and closes.

Many Asian sessions and Europeans sessions are chop but usually NY session has activity. Sometimes the European session has some activity that continues into the NY session however most of the volume is during NY.

Hence why it’s correlated to stocks and such.

One advise I can give if you want to use stops. You need to learn to put it in a good place. What most newbies do is they put the stop loss either at a round number like $41000 or $40000 or $39000. Or what they do is they put it near a pivot low or high OR at the daily low or high.

This is a horrible way of using a stop loss because those areas typically get run. Its very obvious many traders using the daily low or high. That's why alot of times there are failed breakouts and then the reversal. This is due to stop losses getting run.

You either need to put it in a random spot or before the daily low or high. That way you don't deal with slippage at least.

Once you start mining, usually with a GPU or two. And you see profits, its hard to stop building rigs. I've done it myself. Bought 1 GPU, 1 month later I bought another one. Then a month later I had a complete rig. Then next month had another rig.

You become addicted to buying GPUs and building rigs. It becomes fun. You easily max out your credit cards and available power at your place. This is fine if its still a bull market. And I got lucky because all my rigs were ROI'd after 90 days or so.

However I've seen people do this and become burdens to debt. Because they bought a GPU for $1000, which second hand value was around $300. They owed thosands on their credit cards with 20% interest. And it got bad.

Yes you cannot legally do this. If you are an old timer you heard of Casaciuous physical bitcoins. It was really popular in 2011 or so. Either way they were coins which had an QR code with a BTC address and if you peeled it off the private key was inside. They became very popular.

However the creator got in trouble with the treasury department because you cannot create currency like this. This is not like having a chocolate coin which has no value. So if they did do something like this with gold it would be deemed illegal and confiscated most likely.

I don’t see a decoupling anytime soon. So most likely it will keep following the nasdaq for the short and mid terms. However it’s not a good thing because in my opinion tech stocks might crash hard soon.

Inflation went up last quarter a lot and I think we will see worse earnings when reports are due. And this is what will accelerate the selling of the indices. Many stocks are already about to break their 52 week lows again. Markets are very weak and Bitcoin might follow also.

Yes it’s possible. His prediction isn’t as bad as others which were predicting $250 K in 60 days when we were trading in the $60K zone.

1 year is a long time. We can have a recession, Bitcoin can break $28K and head to. $20K and reverse and in  a few short months can break the $69K ATH and head to $100K.

Lately all bear markets whether for crypto or stocks are very short. So it’s possible.

Bitcoin is not the only asset that is under performing. Pretty much most tradable assets are trading this way. Only stocks I know which are near highs are Apple or Tesla. However most of the mid and large cap stocks are down 50% or so and they peaked right around the same time.

Why? There are too many issues right now

War
Inflation
Rate hikes

There might be a recession around the corner and stocks will go down due to poor earnings and crypto will follow.

One of the ETH devs confirmed this on twitter. And there are media reports also floating around.

Basically they ran into some issues and got no choice but to postpone it. What other ETHs dev have said is that ETH has gotten so complex that they are not surprised they are running into issues left and right.

I actually believed Q2 would be the actual merge because their tone was completely confident last month however in the past week it has changed entirely. No idea if it will go finally live in Q3 or not.

Nobody knows. I think it all depends on how the stock markets play out. Currently this week we got JPM earnings and they were a miss. If we see many more bad earnings then it’s possible for a larger correction however I don’t think it’s going to be like 85% correction.

It’s possible however that we might revisit the low of last summer and maybe touch the 200 WMA. The signs I am getting is the false break we had last week when Luna was buying bitcoins in the millions. We should be at $50k now however we failed to even reach that. Seems like lots of large sellers are active at these levels.

When people first start to trade they never use stops because they have no idea what they are. After losing some money and discovering such an option they finally decide to use it.

However they find that wherever they put their stop, the market goes to that stop and ends up reversing after. So they stop using stop losses again.

Then there is one day when their position loses >20% in a single day and they didn’t get out, they finally realize that using stops was better then not using them at all.

You can take apart the fan shroud and see if there is anything which blew up. If it’s something common like a capacitor you can find a replacement for it and see if it works.

Most likely you will see lots of burn marks and even PCB can be damaged. However you might get lucky and just need to replace a few capacitors.

Not the first time it happened. It happened to miners other times. Usually when they are in a rush to build a rig and end up plugging it in backwards.