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16868575 No.16868575 [Reply] [Original]

Crypto is clearly a pyramid scheme but I think it will work. We’ve only ever really seen crypto in a bull market. In a bear market where trust runs thin I think it will run. It’s nearly worthless and worse than USD but it will run. US household wealth is at $113T. If crypto can fool just a small portion of people it will easily see 1T market cap, possibly as high as 5T. If the market pulls back, hell, even within 5 years that’s amazing returns. Just don’t bet all on 1 horse.

>> No.16868802

It’s sad but crypto is an investment in people being pathetic and it’s a great bet.

>> No.16868829

As far as I'm concerned crypto will still make money as long as whales are greedy, I really doubt we'll never see another bull market again

>> No.16868884

>>16868829
I think the significant political instability or a currency failure is almost certain to make it surge sooner or later. True believers will fail to unload but those just in for a scalp will make it big.

>> No.16868908

>>16868829
>BTC halving in 4 months
>ETH 2.0 in 6-9 months
>LINK staking soon

>> No.16869290

>>16868908
I plan to buy all 3. Just hedging against the the Dems going full MMT

>> No.16869311

>>16868575
you are delusional if you think crypto will do well during a recession. EVERYTHING goes down during recessions. people want cash more than they want other stuff, so they sell the other stuff, starting with the most riskiest. bitcoin is extremely volatile. it does 40% swings in a day when the stock market is at an all time high. imagine what it would do when the S&P500 is crashing.

BTC will be under 1k during the next recession.

>> No.16869360

>>16869311
and still you wont load your bags for dirt cheap

>> No.16869361

>>16869311
That might be the dumbest thing I’ve ever heard. The point behind crypto is governments can’t print it at will to make unmanageable debts payable. Does gold go down in a recession? Think for a second.

>> No.16869414

>>16869361
>Does gold go down in a recession?
yes it does retard. crashed in 2008, didn't go up until 2010 after the stock market already recovered.

>> No.16869618

>>16869414
It went up almost immediately. This is what’s going to happen. In the next recession the gold will murmur something about negative interest rates and crypto will rocket.

>> No.16869629

>>16869414
Stocks didnt recover in 2010, it hit the fucking bottom.

>> No.16869652

it's clickbait. both of his parents have been working on those videos for the past 5 years, 1 20 minute video every day and its finally paid off.
the kid just shows up

>> No.16869696

>>16868575
You don't know shit OP. Lurk moar read moar, understand the tech moar

>> No.16869935

>>16869696
Can’t say I’ve ever bought into a Ponzi scheme before but I know plenty about tech. I worked in tech for years. I worked in finance for years.

This Ponzi scheme will take off in the next recession. The closer the fed funds rate gets to 0, the better it is to be in crypto.

>> No.16869971

This whole thread is filled with Reddit tier retards. Imagine thinking crypto is a ponzi and not the next generation of technology. Imagine not having the IQ to just read some news and understand what you read. Sage.

>> No.16870076

>>16869935
You called crypto a pyramid scheme. You understand what's going on. Smart contracts are going to rule this world and absorb so many jobs.

>> No.16870161

>>16869971
When the market vomits 4,000 points in 3 days do you think people are going to do their due diligence or stuff money in bitcoin because that’s what the herd is doing? Do you think they’ll ever bother to learn exactly what they own or just sell as soon as equities are on sale at 1/2 price? Sorry crypto means more to you than a place to hide when the Fed drowns the economy in cheap dollars or DC runs a 500 billion dollar deficit each month. To me it’s just an easy place to hide. Sadly you will hold way too long because you actually believe in it. I took Tesla from 180 to 420 because I knew I could scalp it. Not because I believe in it. Time to do the same with crypto once Bernie and Warren start winning delegates shit is going to get ugly. Think I needed to know what exactly zscaler and CrowdStrike do to play the Iran news? Money isn’t as smart as you think.

>> No.16870198

Do you think someone will find a purpose for bitcorns if the marketcap hits 10 trillion?

>> No.16870260

>>16870198
no, they're even less likely to do so at that price. the incentive is to hold bitcoin, not spend it. all bitcoin businesses will fail because no one wants to spend bitcoin. it's the problem with deflationary currencies. it creates dystopias.

>> No.16870306

>>16868575
That's if there's a purge of at least 1,000 useless tokens that don't do shit. Proof of Work coins catch slack for the energy it takes to produce them, but you can;t hate on PoW for that. It's the best way to distribute a coin because it's fair game if they start out without a premine or half the supply being held by the project leaders.

Coins like Chainlink, iExec, Request, Ambrosus, and those with coins held by the team are just not fairly distributed and the money raised from non-mineable ICO's are 99% of the time proven to be pump and dumps and charities where the money raised is not even used by the team for their coin. Until there's real use of these cryptocurrencies and speculation turns into utility, it will always be one big pump and dump market. It's bad enough you can get taxed on trading them and there's not a single product to use. How the fuck is that possible to get taxed on trading vaporware?

I still have hope that we are in the concept stage and by the time 2030 or 2040 come around, the ones who didn't buy some crypto now will regret it. I also want to see real development of these projects and for the bullshit coins to die off, the margin trading to die off, and the whales to be the lenders themselves. Where are the dapps? Where are the tools to replace the legacy financial institutions? Enough fucking around on trying to make a buck. Let's get serious action going on to decentralize the world and unseat Big Corporate companies.

>> No.16870307

>>16869361
THIS
crypto (especially btc) is an escape from fiat and banks.
People will see btc as a safe haven. Gold 2.0.
Also money that cannot be confiscated in a cold wallet

>> No.16870344

>>16870260
This guy gets it. The point of bitcoin is to hold bitcoin and sell it for more dollars later.

The point of the US dollar is to grease transactions. They are very different things. What the economy really needs is the USD. But in a recession people will panic and prefer bitcoin.

>> No.16870514

>>16869311
ya the idea that crypto will surge during a recession is one of the stupidest ideas floated on this board.

if we see another major recession crypto will tank to basically zero, no one wants fake internet coins when they're about to lose their home or can't keep food on the table because they lost their job. absolute retards

>> No.16870566

>>16870514
those kinds of plebs were only buying shitcoins anyways, we're after the millionaires looking for a safe haven

>> No.16870578

>>16870514
If someone thinks cryptocurrency prices will rise when markets tank, then the rational thing to do at the first sign of a recession is to load up on their preferred digital coin. When enough people act on this impulse, they will move prices up.

When you lose your job and you are holding a dollar bill that’s becoming worthless and the stock market is going down where else would you put it? Negative interest rates are coming to a country near you and the people need a currency the government can’t fuck with at will.

>> No.16870707

>>16869414

lolwut it 'crashed' in 2008 and immediately went up in Q4 2008

>> No.16870827

>>16868575
Crypto isn't a pyramid scheme, and it also won't work. How could you be wrong on both accounts?

>> No.16870880

>>16870566
safe haven is real estate or gold, not hyper speculative magic beans that are only bought to sell to even crazier speculators in the future

during recessions there is no extra money to speculate with, and things look dire enough that there might not ever be

no one is making more land or new cities or gold. but boy are they making new """digital assets"""

least scarce asset in the world. marketed as scarce. lol, doublethink.

>> No.16871105

>>16870880
Bitcoin is by design much more scare than USD. If the US market goes down the engine of the world economy will goes down. Foreign stocks probably won’t drop they may even appreciate because they are so comparatively depressed but I wouldn’t bet everything on that. Real estate is a lot of people’s retirement back up plan so you can’t touch anything but commercial properties with a strong value proposition like REIT IIPR. Boomers will be cashing out cabins and rentals like no tomorrow. There aren’t enough places for the money to run. Gold is already near all time highs. People are going to build a crypto bubble. Only Bitcoin should go up the smaller coins have smaller betas so idiots will think they are slick and buy them. You can’t hide trillions of dollars very easily when shit hits the fan.

>> No.16871143

Let me pitch you a scenario to hammer this home. You are a billionaire and Bernie and AOC are running against Trump. What would you do with your money?

>> No.16871170

>>16871105
>Bitcoin is by design much more scare than USD

So scarce that it can be forked and copied repeatedly until we have the infinite amount of altcoins we have now

>> No.16871196

>>16871170
Alt coins aren’t bitcoin.
Just like the Lao Kip isn’t the Usd.

>> No.16871218

The ponzi exchanges for btc dont help. Now we have to fight unlimited money shorting

>> No.16871291

>>16871105
That is a reasonable hypothesis. We have never seen Bitcoin in a U.S. bear market yet, so we can only guess at this point.

Leaving aside the narratives for a moment, the asset class with which Bitcoin (and crytpo at large) shares the most similarities is penny stocks. Both are low market cap, easy to manipulate, and dominated by retail investors (at least
in terms of number of participants). During recessions, penny stocks dump. Hard. Harder than the S&P500 dumps.

Once again leaving aside the narratives, what asset class is Bitcoin LEAST like? Let's see.

* Bitcoin has no fundamentals. It's just software.
This means all tech companies are out of this category, since they share the property of being related to software.
* Bitcoin is "mined," but the process of brute forcing a hash was an arbitrary design decision and not remotely the reason people pay 8 thousand buckaroos for it (the fact that some non-PoW coins have high market cap proves this). The real product that Bitcoin is selling, to falsely analogize it to a business, is confidence.
So it's not dissimilar to companies like WeWork, Theranos, Herbalife.
* Bitcoin can be possessed in physical form by individuals.
So it's not dissimilar to commodities like gold, silver, pork bellies.
* Bitcoin appreciated an unprecedented amount in a short amount of time.
So it's not dissimilar to the entire NASDAQ 100 or even the S&P500, given the unprecedented uninterrupted 10+ yr bull run.

What's left?
- things you can sleep in (real estate)
- things that keep you warm (oil & gas)
- things you can fuck (entertainment, hospitality)
- things you can eat (agriculture)

If the market is zero-sum during a recession (it is), and you think there's going to be a huge shift of capital during the recession, then you would have to believe that wealth is going to shift from the "slow and steady" industries above to the other side of the axis into Bitcoin. I think this is wrong, and the opposite will happen.

>> No.16871424

>>16871291
To me bitcoin is most like the following two products.

Scratch offs and religion. BTC sells hope and hope costs a premium in tough times.

>> No.16871436

crypto is ABSOLUTE DOGSHIT apart from BITCOIN AND ETH. NO BODY knows any of your other gay shit. and most of it is gay shit because it solves absolutely nothing.

>> No.16871595

>>16870880
>safe haven is something the government can easily tax to death or simply expropriate

Imagine being this stupid

>> No.16871679

>>16871595
>implying the U.S. govt would reach the point of seizing gold and people's houses
>implying the govt would somehow allow Bitcoin-fiat transactions to occur
>implying they wouldn't take full action against people trying to evade their control
>implying running a bitcoin node won't get you swatted
>implying rich people are going to meet in dark caves with Brinks trucks of cash to exchange a coin that is only mined by a few people in New Zealand and Rwanda where the governments there did not manage to cut off mining or the internet as a whole

you are seriously retarded if you think the government would seize gold but somehow allow Bitcoin to exist (and yes, they allow it to exist--they control that cable going to your house)

>> No.16871726

>>16871679
>implying amerilards won't vote some sanders like commie the moment the economy goes into recession
>implying the US government hasn't already seized peoples gold before
>implying the US government has any control of people using their bitcoin to invest somewhere communists aren't in charge
>implying bitcoin nodes are only in america
>implying rich people won't just get the fuck out to Singapore or somehwere like that the moment commies try to tax them 90%
>imagine not understanding what fiscal comeptition is
>imagine being this much of a boomer who'll stay dirt poor during the next bull run

>> No.16871731
File: 85 KB, 620x387, PF-gold-confiscati_2525827b.jpg [View same] [iqdb] [saucenao] [google]
16871731

>>16871726
Forgot pic

>> No.16871748

>>16871143
Cash, Gold, and Bitcoin in that order.

>> No.16871765

>>16871726
that was the Great Depression. that was a SHTF scenario. I don't know how you can simultaneously believe even the internet would still be functioning if the Great Depression happens again. there are a lot more unpredictable factors now than there were back then.

there are countries with over 90% tax rate for the richest people, and there are still rich people.

you are hoping for a doomer scenario that will only hurt you and your bags. I have Bitcoin too. I do not want a recession to happen because I know it would drastically decrease the value of my Bitcoin.

>> No.16871832

>>16871765
Without internet you've got bigger problems than bitcoin not working. Anyway pretending the internet would just go away worldwide is just dumb, if that really happened in America you'd have millions of refugees in Mexico or Canada.

Yeah with a booming economy it's pretty easy, just wait for the real recession and add to that the real commies taking over.

I'm not even hoping for any doomer scenario, I'm completely sure the fed will keep the market afloat with more and more liquidity injections for at least a decade if not more, but pretending that people wouldn't run to the safest asset in history during a recession is just plain dumb.

>> No.16872523

>>16871765
If shit were to hit the fan, the best resources would not be cash or gold. They would be guns, ammo, food, and water. Stock up on rice, can goods, learn how to sustain yourself with good soil, a seed vault, and survival skills. I don't think this type of scenario is going to happen anytime soon, but in case it does, having all the right skills and resources will come in handy.

It wouldn't hurt to prep and be prepared now. A lot of people talk shit to those that are crazy SHTF preppers, but they will be the ones able to take care of themselves if a scenario were to happen. Your paper cash will be good for the fire an that's all it will be.

Buying precious metals or bitcoin isn't a bad idea, but Bitcoin is useless if the power grid goes offline. Great experiment of our time, but not without problems. I hope everyone with a heads up stays calm and protect themselves. Not a time for panic, but only those that are unprepared will panic. Get out the cities and find open land to settle. Here's to shit never hitting the fan, but let's face it. The banking elite and this game that is played on the world has to meet a dead end at some point. This system of fiat sucks so much. Crypto is not really a way out. It's actually locking us down more with a public ledger and connecting your real identity to your crypto. Easy to trace and governments will find a way to confiscate if they need to.