/biz/ - Business & Finance

[Anonymous No.25216100]

Can we take a moment to remember how brutal the 2018-2019 bear market was? Share your best stories. Two years ago in this same month we just had a major dump from 6k to 3.5k which felt like total annihilation... And the last time LINK saw 20 cents ever again. Time flies.

[Anonymous No.25216147]

what bear market
its called a correction stupid frog poster

[Anonymous No.25216236]

>>25216100
I went down from 15k down to 2k during the bear market didn’t flinch once I know bitcoin is going to be huge one day

[Anonymous No.25216251]

>>25216100
I miss 18-19 biz

[Anonymous No.25216258]

Was in HS back then silently holding my 22k LINK bag worth about $3k-$7k. Now in uni with about 19k LINKs since I had some expenditures. It all seems weird. I remember skipping school in the morning to go to the gym. Then randomly looking out the window and thinking how one day soon enough my link bag will be worth $100k.

[Anonymous No.25216302]

I had like $2k in an exchange which exit scammed
Sucked but my initial investment was like $200 and I stole from people in my life so it was karma

[Anonymous No.25216326]

You guys are lucky, the 2014-2015 bear market was way more depressing.

[Anonymous No.25216333]

>>25216326
What was it like?

[Anonymous No.25216422]

>>25216326
have you made it?

[Anonymous No.25216528]

>>25216251
feels like the people here where smarter back then. i've seen so many posters who barely know english lately, and the general mood is more negative and aggressive and spiteful. you could probably write a script that checks the archive for the word 'shit' and track how its usage has gone up, my guess it's that it has exploded. the third world has found my board and i don't like it

[Anonymous No.25216596]

>>25216258
Good job anon

>>25216528
We are infested with newfags, pajeets and nigerians. DeFi was a mistake but at the same time it has made people a lot of money.

[Anonymous No.25216598]

>>25216528
>the word 'shit' and track how its usage has gone up
Oh Gee! That sure is a bummer!

[Anonymous No.25216619]

>lost almost all hope
>resigned to being poor wagie forever
>sold everything except 1k link and the few ETH I had because of the memes, would sometimes think about the good times on /biz/ and laugh
>life got very bad, brother committed suicide, fell into a very deep, dark hole
>FF to March 2020
>Covid gutting financial markets the world over, watched years of progress evaporate in days.
>thought I could make a neat profit riding the rebound, some way to put my last couple hundred bucks to work for me while I waited for my unemployment checks to start coming in.
>decide to check binance
>MYLINKYSTAYSUPERSTINKY

Never, ever lose hope.

[Anonymous No.25216656]

>>25216333
There was some hopium like companies accepting Bitcoin as payment but the selling was relentless. The communities all sucked and there weren't any resources like there are today. Maybe a few schizo Youtubers like BrotherJohnF/thebitcoinchannel and a few podcasts here and there. Reddit was alright but in hindsight it was total garbage. Altcoins had nothing going for them, just 1:1 clones of BTC or LTC. Exchanges all sucked. Cryptsy exit scammed. Then you had major existential threats looming like BTCGuild and the scaling drama.

>>25216422
Not really because I was poor back then and also retarded. I did well in 2018 because I knew alts would tank like they did before. Sort of started from scratch this cycle. Now I have a decent stack though

[Anonymous No.25216674]

>>25216100
no. i'm never going back there. you can't make me.

[Anonymous No.25216698]

>>25216656
Seen as you are very experienced in the cycles what do you think is happening with this one?

[Anonymous No.25216779]

>>25216698
No one knows, it's never the same.

[Anonymous No.25216913]

>>25216528
>and the general mood is more negative and aggressive and spiteful

True, there are many shit people here. Was a way nicer mood back then.

[Anonymous No.25216965]

>>25216656
How much do you have now anon? I have no doubts people had it worse back then. We have so much better tools, exchanges, wallets, etc and awareness now.

[Anonymous No.25217071]

>>25216698
The amount of normie friendly onramps blows my mind. People in this cycle take Cashapp and Robinhood for granted but they'll be very important in a year or two. I think 2017 went as high as it did mainly because of Coinbase having a nice mobile app. The quality podcasts, youtube videos, influencers, and big investors shilling crypto is a huge bonus this time too. Also I have always been pretty btc maxi but defi feels really next level. Feels like the bitcoin community from the old days. I'm very excited. I think this cycle will surprise even OGs. Will probably be longer, stronger, and less volatile than before.

[Anonymous No.25217075]

>>25216100
that was my entry point
walking in the ashes of post apocalyptic ruins of rektum
me & my ilk were like the first rats that came out to eat the meteorite fried remains of the dinosaurs. we scurried through the bitconnect corpses & fended off the excruciatingly pleas of eos & xrp holders who's life savings were cut by 1/20.
>then there were those who mortgaged their homes to buy ethereum at $1250
>the people who hawked everything to go all in who lost everything including their families
imagine financial hiroshima:
>The alligator people did not scream. Their mouths could not form the sounds. The noise they made was worse than screaming. They uttered a continuous murmur — like locusts on a midsummer night. One man, staggering on charred stumps of legs, was carrying a dead baby upside down. he sunk his entire net worth into $5 xrp.
be careful kids, it can happen again

[Anonymous No.25217140]

>>25216100
Doesnt even feel like a bull market because the price of everything has gone up 50% where I live in the last year (Canada).

Went to the store today, and here were some of things I saw (all prices before taxes, add 12% for the after tax amount):
>Bags of chips: $4.50 (previously under $3
>Small bags of chips $1.88 (previously around $1)
>Energy drinks: $4.37 (previously around $2.99~)
>Toilet paper 8 pack: $12 (idk how much it was before but definitely not $12)
etc etc

I dont even think assets are pumping, I think our dollars are just worth a lot less.

[Anonymous No.25217165]

>>25217140
>Canada's getting real economy inflation

[Anonymous No.25217239]

>>25216100

I salute all the fellow frens who endured the last years of bearish nonsense.

We're entering a new paradigm. There's not enough Bitcoin supply for the market. The game is now played by the smart money from corporations. We'll see the biggest upside from all cycles yet.

Our glory awaits us. We'll soon rule the world. Expect us.

[Anonymous No.25217246]

>>25217165
Yup... Mcdoubles are like $3 now (less than 10 years ago you could get 2 for $3.56 after taxes). My examples in the post you quoted were from shoppers drugmart though, where things are notoriously more expensive for no reason, but they're usually the first ones to implement new price standards/trends.

What they've done at other "cheaper" stores like no frills, giant tiger, superstore, etc is reduce the quantity by like 20%, then inflate prices 20-30% to make it appear less dramatic. But, things like bacon, sausages, ground beef, etc all have around 50-100g less, chicken has 1 less breast in the packs, etc

[Anonymous No.25217324]

>>25216100
t.me/bizfrens

FRENS ONLY

[Anonymous No.25217331]

>>25217246
Whenever I read about the price of food in Canada on /fit/ I am in shock, seems awful.

[Anonymous No.25217451]

>>25217071
What are you holding fren?

[Anonymous No.25217469]

>>25217246
So this is how the US squeezes you. Join our union and enjoy the bountiful corn of Iowa, the plentiful beef of Texas.

All we need is a little Vancouver real estate. And a smidge of Albertan oil.

[Anonymous No.25217479]

>>25217331
Honestly I shouldnt even really be bitching, because I can still easily afford food (I lucked out with the whole covid thing and was declared 'essential'), but a lot of people here cant or definitely wont be able to if we keep going down this road. Pic related is the reality for people living in northern communities in our territories.. These aren't shoops or anomalies either, these people actually have to pay $12 for a pound of butter. It should be criminal and idk how people survive up north

[Anonymous No.25217524]

>>25217479
Oof. I live in the UK and I'm pretty sure we're headed this way now

[Anonymous No.25217615]

I went into hibernation. Saw the price dip to its lowest after the peak, all the alts I flipped into lost 10x their value or more.

Its pretty easy if you just don't surround yourselves in a crypto community and talk about it every day, because then other peoples weakness will infect you.

[Anonymous No.25217716]

>>25216333
I didn't pay as much attention because I was in university and my entire stack was worth like 10k so it wasn't that pressing.

When the MtGox shit happened and they went bankrupt, I legitimately thought crypto might be dead. That was the closest I came to thinking it was actually all over since I started following the market in early 2013.

[Anonymous No.25217749]

>>25217479
Terrible prices but then, no one is forcing them to stay there.

[Anonymous No.25217800]

>>25216698
every cycle the infrastructure gets built out more and more. As the other poster alluded to, there are way more fiat onramps now and it's a lot more normie-friendly. You're actually seeing institutions begin to dip their toe into crypto which is somewhat mind-blowing to me. You're now in an environment where a full-blown ETF seems feasible within a year or two, whereas in 2017 it was a pipe dream to think any of those ETF proposals would be accepted. S&P/Dow Jones indices will be launching cryptocurrency indexes in 2021 which paves the way for an ETF now that a reliable benchmark will exist.

If you look back at 2017 the real parabolic move didn't even begin until the prior 1,100 all-time high was taken out. That's where we are now, in what feels like that first push from the ~900 March lows to ~3k.

[Anonymous No.25217809]

never forget the pink fields
https://www.youtube.com/watch?v=BkX2NAKFM5Q

[XRP roping swingie poorfags he(...) No.25217858]

>>25217800
whats the point of an ETF though since everything moves related to BTC ? Can you really even diversify in crypto as long as BTC is the king and decides when we go up or down?

[Anonymous No.25217881]

>>25217858
well it would likely be a bitcoin ETF similar to GBTC except traded on real exchanges and eligible for inclusion in tax-advantaged accounts.

Shitcoins are a meme

[Anonymous No.25217972]

>>25216100
that dump was fun

[Anonymous No.25218046]

>>25216656
>Altcoins had nothing going for them, just 1:1 clones of BTC or LTC
I think all we had back then were LTC clones and Quark
There was a LTC clone boom in Jan/Feb 2014, I made a decent amount from that

[Anonymous No.25218186]

>>25217749
no, but for the poor people who are just born in shitty norther towns, its pretty hard to leave. pic related is the price of a plane ticket from Iqualit, Nunavut to Ottawa. People that are working there making $50/hr + liveout allowance + northern living allowance can afford the prices and afford to leave, but most people cant

[Anonymous No.25218232]

>>25218186
forgot pic related

[Anonymous No.25218311]

>>25217451
90% btc and the rest is in defi "bluechips" like aave, snx, sushi and a few smaller names like hegic and perp. I was 100% btc until a few months ago so im still trying to expand my alt portfolio as I get more cash. I want to buy link so I can finally join the marines, and YFI as well. Also I might regret this but I don't hold any eth, only dot which is my second biggest holding next to btc. I figure eth has a lot of bagholders and defi seems bottlenecked by their lack of scaling. 3AC and polychain are bullish dot as well and I trust their judgement.