Proof Crypto is Useless

[Ryermkd]

Notice how it drops when heavy gambling season is on...

Just like the Real Estate market soon.

I'd say "Buyer Beware" but you old phatpharms aren't giving us much of a choice are ya...

[Sanity Check]

Some of us who have been in crypto since 2012.

Know this is crypto's.

Normal pattern.


...



2013 bitcoin crashes off silk road being shut down by feds, Ross Ulbricht (he called himself Dread Pirate Roberts on the internet and claimed he had been given silk road by the previous dread pirate) being arrested and china banning portions of bitcoin buying/selling by banks

2017 bitcoin crashes off allegations of bitfinex/tether being investigated for alleged bitcoin price manipulation.

2021 bitcoin crashes. All of the uneducated and uninformed beginners in crypto blame Elon Musk.


Not to mention the other smaller crashes over the years.


The 4 year boom and bust cycle in crypto is real. You could live a thousand years and never hear anyone saying that. Most don't know the basics.

[Deenoz]

good post Sanity.
agreed

[MinnesotaFats]

This current bitcoin crash today seems to be decoupled from the stock market...futures pointing up despite the 20% bitcoin crash

[Ebumdude]

The recent dips have absolutely zero to do with “gambling season”, and everything to do with the dilution of buyers, China’s big crackdown on btc, Elon opening his mouth, and a little bit of cancel culture (saying that btc uses too much energy) sprinkled on top. Perfect storm.

[flyingillini]

The Church is now involved with Crypto.

[paulll]

for example, you can always sell it to others and make real money

[TheGoldenGoose]

Always follow the money. If there is cash involved then there are cash making schemes involved. You think the highest gasoline prices of 2021 just happened to coincide with the Memorial Day traveling holiday?