We are nowhere near the bottom yet...
Once everyone's inside, Doodles' CEO announces Pharrell Williams as Doodles' new Chief Brand Ambassador, before treating the crowd to a surprise performance by The Chainsmokers. No expense was spared.
Just one hour earlier, I was in a hotel lobby chatting with an NFT trader. He'd gotten into nonfungible tokens a few months ago. He'd already lost about $100,000.
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Take the most salient example, Yuga Labs, creator of Bored Ape Yacht Club. Yuga has raised hundreds of millions of dollars by selling Bored Ape NFTs, and it's using that cash to create a big-budget video game. The goal is to bring in players who've never uttered the words "nonfungible token." The plan is clear: If the Bored Ape Yacht Club brand converts enough new hearts and minds, the value of the NFTs that inspired it will skyrocket in response. (people fell for this shite???)
Interesting and pretty comical read...to me it sounds like all the Beto furries of the world are trying to monetize their kink but maybe I'm wrong. I'm sure @HHusky is buying NFTs along with stocks today on yet another "dip"...
Comments
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Still think crypto is the longest running pump and dump in history.
Can’t decide whether a three letter agency is behind it.
The blockchain technology is cool and has useful application but the fact that just anyone can gin up a currency makes no sense to me.
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You are correct but don't conflate cryptos with BitcoinPurpleThrobber said:Still think crypto is the longest running pump and dump in history.
Can’t decide whether a three letter agency is behind it.
The blockchain technology is cool and has useful application but the fact that just anyone can gin up a currency makes no sense to me. -
Can you elaborate on that?DerekJohnson said:
You are correct but don't conflate cryptos with BitcoinPurpleThrobber said:Still think crypto is the longest running pump and dump in history.
Can’t decide whether a three letter agency is behind it.
The blockchain technology is cool and has useful application but the fact that just anyone can gin up a currency makes no sense to me. -
I have in other threads and I can't tell if you're being serious or not.Bob_C said:
Can you elaborate on that?DerekJohnson said:
You are correct but don't conflate cryptos with BitcoinPurpleThrobber said:Still think crypto is the longest running pump and dump in history.
Can’t decide whether a three letter agency is behind it.
The blockchain technology is cool and has useful application but the fact that just anyone can gin up a currency makes no sense to me. -
Not joking, more high level curious. I have roughly the same opinion as Throbber on this stuff I think. Trying to understand why BTC or any cryptos are more than just pure speculation. All other investments are too to obviously to some extent, but there is at least a cash flow and/or intangibles sitting behind there.DerekJohnson said:
I have in other threads and I can't tell if you're being serious or not.Bob_C said:
Can you elaborate on that?DerekJohnson said:
You are correct but don't conflate cryptos with BitcoinPurpleThrobber said:Still think crypto is the longest running pump and dump in history.
Can’t decide whether a three letter agency is behind it.
The blockchain technology is cool and has useful application but the fact that just anyone can gin up a currency makes no sense to me. -
Bitcoin is just the tallest midget in the crypto pump and dump.
Until I can hustle down to Albertsons and buy some pepperoni sticks with it, BTC is tulip futures.
I fucking love block chain technology. Would literally change so many industries - title insurance would become obsolete with a perfect chain of title on a piece of real estate. I’ve seen it used in real estate deals to track investors who subsequently sell their stake. Shares of stock via block chain would put a hurt on brokers and the corrupt maze of intermediaries with DTCC
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It could also be used for voting.PurpleThrobber said:Bitcoin is just the tallest midget in the crypto pump and dump.
Until I can hustle down to Albertsons and buy some pepperoni sticks with it, BTC is tulip futures.
I fucking love block chain technology. Would literally change so many industries - title insurance would become obsolete with a perfect chain of title on a piece of real estate. I’ve seen it used in real estate deals to track investors who subsequently sell their stake. Shares of stock via block chain would put a hurt on brokers and the corrupt maze of intermediaries with DTCC -
RACIST!!!!!1!11RoadTrip said:
It could also be used for voting.PurpleThrobber said:Bitcoin is just the tallest midget in the crypto pump and dump.
Until I can hustle down to Albertsons and buy some pepperoni sticks with it, BTC is tulip futures.
I fucking love block chain technology. Would literally change so many industries - title insurance would become obsolete with a perfect chain of title on a piece of real estate. I’ve seen it used in real estate deals to track investors who subsequently sell their stake. Shares of stock via block chain would put a hurt on brokers and the corrupt maze of intermediaries with DTCC -
My bad. I forgot the imagry of chains is hurtful. Please turn me in and lower my social credit score.pawz said:
RACIST!!!!!1!11RoadTrip said:
It could also be used for voting.PurpleThrobber said:Bitcoin is just the tallest midget in the crypto pump and dump.
Until I can hustle down to Albertsons and buy some pepperoni sticks with it, BTC is tulip futures.
I fucking love block chain technology. Would literally change so many industries - title insurance would become obsolete with a perfect chain of title on a piece of real estate. I’ve seen it used in real estate deals to track investors who subsequently sell their stake. Shares of stock via block chain would put a hurt on brokers and the corrupt maze of intermediaries with DTCC -
Pretty good article on the current market environment.
https://www.zerohedge.com/markets/2022-market-disaster-more-pain-come
Don’t Be (or buy) a Dip
As indicated above, trying to combat inflation with rate hikes is not only a joke, it creates a market disaster when a nation’s debt to GDP is at 120%.
To fight inflation, rates need be at a “neutral level,” (i.e., above inflation), and folks, that would mean 9% rates at the current 8%+ CPI level.
That ain't gonna happen…
At $30T+ of government debt and rising, the Fed can NEVER use rising rates to fight inflation. End of story. The days of Volcker rate hikes (when public debt was $900B not $30T) are gone.
But the fickle Fed can raise rates high enough to kill a securities bubble and create “asset-bubble deflation,” which is precisely what we are seeing in real time, and this market disaster is only going to get worse.
In short, if you are buying this “dip,” you may want to think again.
As June trade tapes remind, the Dow dipped below 30000, and the S&P 500 reported an ominous 3666, already losing more than 20% despite remaining grossly over-valued as it slides officially into bear territory. -
Well, now that's just crazy white supremacy talk.RoadTrip said:
It could also be used for voting.PurpleThrobber said:Bitcoin is just the tallest midget in the crypto pump and dump.
Until I can hustle down to Albertsons and buy some pepperoni sticks with it, BTC is tulip futures.
I fucking love block chain technology. Would literally change so many industries - title insurance would become obsolete with a perfect chain of title on a piece of real estate. I’ve seen it used in real estate deals to track investors who subsequently sell their stake. Shares of stock via block chain would put a hurt on brokers and the corrupt maze of intermediaries with DTCC
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Dazzler is still buying though! Bought more today!
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I'd call that a discount...
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Cryptos are classified as securities, and as of yet are unregulated by the SEC. They are managed by people who can manipulate them and influence outcomes. They can be leveraged by 10x, 20x, 100x and then when they get caught with their pants down, like so many are now, they end up insolvent.Bob_C said:
Not joking, more high level curious. I have roughly the same opinion as Throbber on this stuff I think. Trying to understand why BTC or any cryptos are more than just pure speculation. All other investments are too to obviously to some extent, but there is at least a cash flow and/or intangibles sitting behind there.DerekJohnson said:
I have in other threads and I can't tell if you're being serious or not.Bob_C said:
Can you elaborate on that?DerekJohnson said:
You are correct but don't conflate cryptos with BitcoinPurpleThrobber said:Still think crypto is the longest running pump and dump in history.
Can’t decide whether a three letter agency is behind it.
The blockchain technology is cool and has useful application but the fact that just anyone can gin up a currency makes no sense to me.
Bitcoin is classified by the IRS as property. It is a commodity. It has no central group or person managing it and determining outcomes, like increasing the number of coins and distributing to friends, etc. It is digitally engineered and designed to forever have a limited number of coins available. With hundreds of thousands of nodes (computers) around the world working to defend it 24/7, there have been countless attempts to hack BTC but it has never been successful. At the heart of so many human miseries has been broken currencies manipulated by greedy humans. But Bitcoin can't be manipulated and greedy humans can't compromise it even if they wanted to.
The Bitcoin NETWORK will also be very useful in the coming years as the foundation for innovations like the Lightning Network.
it is becoming increasingly clear that the US Treasury views Bitcoin as a threat. Many people hope that BTC becomes the official currency of the USA when the dollar finally goes to zero in 10-25 years. But it is my hope that BTC remains classified as property and that the US dollar gets pegged to it so BTC becomes the backing to the US dollar as gold used to be before Nixon took us off the gold standard in 1971. Yes, the spending power of the US dollar will get weaker and weaker, but the day could come where I swipe my card to purchase something and I'll have a LOC tied to my Bitcoin that will use the Lightning network to move that money from my LOC to US dollars and then sent to the merchant from whom I bought. It will be done at the speed of light and with instant finalization, unlike our current credit card systems that need a day or more to finalize the transaction. -
Especially when you don't know from one day to the next if you can buy .95 cents worth of pepperoni or $1.05 depending on booger eating millenials pushing it around after hours and weekends.PurpleThrobber said:Bitcoin is just the tallest midget in the crypto pump and dump.
Until I can hustle down to Albertsons and buy some pepperoni sticks with it, BTC is tulip futures.
I fucking love block chain technology. Would literally change so many industries - title insurance would become obsolete with a perfect chain of title on a piece of real estate. I’ve seen it used in real estate deals to track investors who subsequently sell their stake. Shares of stock via block chain would put a hurt on brokers and the corrupt maze of intermediaries with DTCC -
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I want crypto to crash and burn because I pretty much missed the boat on it and didn't pay attention and know nothing about it.
Only people I ever met who were into it were the crypto bro dbags -
It's fucking hilarious watching all these crypto bros who didn't think 20% yields would have any sort of consequences. Once exchanges and coins started doing that I knew 99.99999% of them are scams. You can still make money on them though, hopefully we get one more chance at the casino in the future!
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First thing I did when I was a senior in college was learn personal finance.CuntWaffle said:It's fucking hilarious watching all these crypto bros who didn't think 20% yields would have any sort of consequences. Once exchanges and coins started doing that I knew 99.99999% of them are scams. You can still make money on them though, hopefully we get one more chance at the casino in the future!
Just keep investing lol. It's not hard
Although I blew like 200k on a crappy business venture. Spoiler alert .....don't go into business with family. Yes I knew but I did it anyway.
Eh live and learn. Doing pretty well about to crush it with some Chinese companies that want to put up shop in the us and go public
Not my main thing but a fun side thing
