The great debt crash

[shtferbrains]

Never did understand the cryto currency as an investment.

If it is a currency and you loaded out all last years production 3 months ago taking Bitcoin as payment you have lost 2/3 of the value since.

That is not and never will be currency.

Now the pumps are saying buy the dip.
If it will never be generally accepted as currency why does it exist?

[helmsdale]

How many trillions of dollars of losses are stacking up now? Hearing that the crypto space is worth less than $1T now, wiping out 18 months of gains, and sitting at 1/3 the market cap that it was a few short months ago.

Quite a "store of value"...

[wheatking16]

How many trillions of dollars of losses are stacking up now? Hearing that the crypto space is worth less than $1T now, wiping out 18 months of gains, and sitting at 1/3 the market cap that it was a few short months ago.

Quite a "store of value"...

The average Bitcoin purchased since the Dec 2018 low is up $1400.

CORRECTION $400

[shtferbrains]

How many trillions of dollars of losses are stacking up now? Hearing that the crypto space is worth less than $1T now, wiping out 18 months of gains, and sitting at 1/3 the market cap that it was a few short months ago.

Quite a "store of value"...

At that peak that is off the chart it was 2.9 Trillion with a T.

Does that contribute to reduce inflation as that money has evaporated?

[dmlfarmer]

quote: “ In a first for Canada, Conservative Party leadership candidate Pierre Poilievre is campaigning to bring Bitcoin adoption to Canadians as a way to give people control and autonomy over their own finances.

To large crowds, unprecedented for a party leadership campaign, the long-time member of parliament and Conservative finance critic said, “We need to give people the freedom to choose other money. ” bitcoin magazine. https://bitcoinmagazine.com/culture/poilievre-brings-bitcoin-adoption-to-canada

And if you are worried about inflation Poilievre said adopting crypto will allow Canadians to opt out of inflation. He should know as finance critic

[wheatking16]

At that peak that is off the chart it was 2.9 Trillion with a T.

Does that contribute to reduce inflation as that money has evaporated?

It is a typically a zero-sum game and the money is reallocated; however, the pre-mined coins never cost anything so........


You might find this Crypto Total Market Cap chart interesting.

It is busy with my Hyperwave Theory analysis that suggests a weekly close below the Phase 2 line brings a Phase 1 target of 89.252B.

534B is the previous resistance on the monthly chart. Perhaps, that is as far as it goes.

it is hard to imagine but time will tell.

I expect only a half dozen or so that have utility and are decentralized to survive.



Here is a link to track:

https://www.tradingview.com/chart/TOTAL/UAcEeGU4-Ctrpto-Total-Market-Cap-Idea/

[helmach]

Never did understand the cryto currency as an investment.

If it is a currency and you loaded out all last years production 3 months ago taking Bitcoin as payment you have lost 2/3 of the value since.

That is not and never will be currency.

Now the pumps are saying buy the dip.
If it will never be generally accepted as currency why does it exist?

I do not have any crypto or any dog in the fight. but I think you are looking at it slightly wrong. if your buying crypto to hit it rich your using it incorrectly. Crypto to me is a way to escape fiat currency and goverment controle over yourself. I believe that's why the "state" is so concerned over not having regulation or oversight. As the late great John McAfee said "Choose to free yourself from those that choose to keep you down"

As for the loss of value I can't debate that.

[TOM4CWB]

I do not have any crypto or any dog in the fight. but I think you are looking at it slightly wrong. if your buying crypto to hit it rich your using it incorrectly. Crypto to me is a way to escape fiat currency and goverment controle over yourself. I believe that's why the "state" is so concerned over not having regulation or oversight. As the late great John McAfee said "Choose to free yourself from those that choose to keep you down"

As for the loss of value I can't debate that.

Very interesting parallels with farming.

We sink in $300/ac… and watch it grow… or not as the case may be.

Would rather have my fate in faith in family, community, and creator… than bitcoins or crypto… growing food is a productive fascinating living to dedicate our lives to! The miracle of life is a mystery few will understand… seeds that are buried, resurrect, the produce 30-50-or 100 times what was planted.The study of the great engeneer who created all this great miracle… will take longer than the time we have on this world!

🙏 and Cheers

[furrowtickler]

quote: “ In a first for Canada, Conservative Party leadership candidate Pierre Poilievre is campaigning to bring Bitcoin adoption to Canadians as a way to give people control and autonomy over their own finances.

To large crowds, unprecedented for a party leadership campaign, the long-time member of parliament and Conservative finance critic said, “We need to give people the freedom to choose other money. ” bitcoin magazine. https://bitcoinmagazine.com/culture/poilievre-brings-bitcoin-adoption-to-canada

And if you are worried about inflation Poilievre said adopting crypto will allow Canadians to opt out of inflation. He should know as finance critic
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[errolanderson]

Can’t imagine the Bank of Canada hiking rates next week, but they will.

Markets are far faster than central bankers and their ability to respond. Inflation is now dead. Deflation is the new kid on the block. Asset prices are already tumbling. This has created a conundrum for bankers making their courageous battle with inflation, that is no longer there.

Now the tide has turned . . . and so have bank profits. An outcome not planned by the financial industry.
There is now a real possibility of rate cuts later this year.