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Thread: Bitcoins are officially donkdown

  1. #7681
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    Quote Originally Posted by Pooh View Post
    My brother in law is loaning his crypto out to the digital bank or whatever and being paid 10% interest and the bank is loaning that out to margin probably levered up times 100 so half this money in crypto is borrowed money. To me that's the scary part. If it weren't all on margin things would be totally different but it is so it will.

    You could literally dump almost any amount of money on a variety of exchanges and get .6 to .8 monthly staking % never buying a single thing. Just having it sit there.

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  3. #7683
    One Percenter Pooh's Avatar
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    Quote Originally Posted by NaturalBornHustler View Post
    Quote Originally Posted by Pooh View Post
    My brother in law is loaning his crypto out to the digital bank or whatever and being paid 10% interest and the bank is loaning that out to margin probably levered up times 100 so half this money in crypto is borrowed money. To me that's the scary part. If it weren't all on margin things would be totally different but it is so it will.

    You could literally dump almost any amount of money on a variety of exchanges and get .6 to .8 monthly staking % never buying a single thing. Just having it sit there.
    True. Until the entire thing blows up and you're left with a fat goose egg in your account. That's the reason you're getting the 10% or whatever. People think it's free money when in reality it's the riskiest "investment" they could ever make. PDI. That's not riskless but it has a 10 year track record and it's currently paying 10.5% with upside. To each his own.

  4. #7684
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    Quote Originally Posted by Pooh View Post
    Quote Originally Posted by NaturalBornHustler View Post


    You could literally dump almost any amount of money on a variety of exchanges and get .6 to .8 monthly staking % never buying a single thing. Just having it sit there.
    True. Until the entire thing blows up and you're left with a fat goose egg in your account. That's the reason you're getting the 10% or whatever. People think it's free money when in reality it's the riskiest "investment" they could ever make. PDI. That's not riskless but it has a 10 year track record and it's currently paying 10.5% with upside. To each his own.
    You will never be left with a goose egg, the money isn't being used for anything but staking. The principal is always there. And I doubt these major exchanges are going to go BK and lose every penny of everyone's money by collapsing. You are in fact paid out the return in alt coins, so that "could" theoretically go to zero. But again we are talking something catastrophic for that to happen. But you could keep selling the returns periodically and pull that money off the table as you go to hedge against anything crazy happening.

  5. #7685
    Plutonium sonatine's Avatar
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    Quote Originally Posted by NaturalBornHustler View Post
    You are in fact paid out the return in alt coins


    lmao. goddamned dude.
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

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    Plutonium sonatine's Avatar
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    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

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    Platinum BetCheckBet's Avatar
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    Good news guys I've found a crypto currency which was literally unaffected by the recent crash this week.

    Name:  ter.png
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      Forum Wars: LOL, I just randomly, independently, looked up REDACTED just now too. Since all time peak, down about 97% since peak. Classic Pump and Dump.
      
      Muck Ficon: :HOF

  8. #7688
    Plutonium sonatine's Avatar
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    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

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    Plumber tgull's Avatar
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    There will be an awful lot of unneeded computer mining hardware on Ebay in 2023.

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    Plutonium sonatine's Avatar
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    based on the tonights open i expect we might see a day or two of green before the bears come for our genitals again.
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

  12. #7692
    Platinum BetCheckBet's Avatar
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    More collapses again this morning.

     
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      Sanlmar: I’ll be damned

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    Plutonium Sanlmar's Avatar
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    Quote Originally Posted by BetCheckBet View Post
    More collapses again this morning.
    Eth showing some grit in contrast

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    Plutonium Sanlmar's Avatar
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    Quote Originally Posted by Sanlmar View Post
    Quote Originally Posted by BetCheckBet View Post
    More collapses again this morning.
    Eth showing some grit in contrast
    I could not have been more wrong. Yikes

  15. #7695
    Bronze The Boz's Avatar
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    Stock market falling right in line.

    Most Tech now 20%+ down from its peak. TSLA down over 30% below $900.

    Seems to be happening under the radar in the media.

    Paper net worth’s are being crushed.

  16. #7696
    Diamond simpdog's Avatar
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    For ETH....

    Did the same in May of last year. Started to recover then dipped lower in July. 4 months later ATH.

    Can't imagine the liquidations for anyone leveraged. I feel massive pain and just lost the paper gains from last year.

  17. #7697
    Owner Dan Druff's Avatar
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    Yeah I think the people talking about the crash down to 30 are probably correct.

    Another kermiting this morning, albeit less of one than the other recent crashes.

  18. #7698
    Plutonium Sanlmar's Avatar
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    Quote Originally Posted by simpdog View Post
    I feel massive pain and just lost the paper gains from last year.


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