How soon until Bitcoin crashes?

NEW -> Contingent Buyer Assistance Program
The fact that one tweet from a high profile individual sent the stocking tumbling more than 20% in a single tweet, tells me that this is not a store of values holding.


Can?t wait for the next tweet.
 
Was it the tweet or the SNL "hustle" joke?

Everyone knows what makes a joke funny is the grain of truth.

Really gorgeous clothes for the emporer though.
 
The IRS already ask if "At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?" on the 1040 form so I'm not sure it's a huge news.

But your average crypto owner probably doesn't realize they need to pay tax on their gains  ;D
 
morekaos said:
What do you expect when you trade in a medium founded by criminals, for criminals with no repercussions or rules...Don't grasp your pearls in stunned disbelief when you get ripped off....

Elon Musk's ?50million private jet arrives in the UK as it's revealed Tesla made ?200m selling Bitcoin before announcing it would not accept it for purchases
Musk's Gulfstream G650ER private jet touched down at Luton Airport on Friday
A black Mercedes was seen chauffeuring passengers away soon after 4.30pm
The jet's arrival comes after the billionaire's net wealth took a $20m plunge
Tesla's founder said the company would no longer be accepting Bitcoin, despite recently selling selling off around ?200 million worth of the cryptocurrency

https://www.dailymail.co.uk/news/article-9580053/Elon-Musks-50million-private-jet-arrives-UK-nine-hour-flight-California.html
Click to expand...

Crypto fraudsters used Elon Musk's SNL appearance 'to fleece people of up to $10million in new Twitter scam'
Crypto expert claims up to $10million was stolen on weekend beginning May 7
Scammers used Elon Musk's SNL appearance to promote fake crypto schemes
The crypto criminals hacked verified accounts and pretended to be celebrities
They then promoted sites promising cash rewards after initial crypto payment

https://www.dailymail.co.uk/news/article-9603645/Crypto-fraudsters-used-Elon-Musks-SNL-appearance-fleece-people-10million.html
https://youtu.be/1Z6MJIjCJ20
 
psssh....

c'mon now, to the moon!!! haha

c9lg95srmj521.png
 
Well that happened quick, I guess that is the way of these modern scams...Crypto will follow the pattern...

NFT bubble pops: Market implodes with sales falling 90% in a month after craze for buying memes and viral videos suddenly fades
Sales of non-fungible tokens are down 90% from a month ago as the craze fades
Fad saw collectors pay millions to 'own' digital artwork and memes
Jack Dorsey's first tweet and 'Charlie bit my finger' were among the sales
NFT enthusiasts insist the market hasn't crashed and claim it's a fluctuation

https://www.dailymail.co.uk/news/article-9652255/NFT-bubble-pops-Market-implodes-sales-falling-90-month.html
 
I remember when I read about NFTs for the 1st time, it proved to me that there's too much money in this world, and we're losing all sense of its value.  It reminded me immediately of the Robin Williams' quote, "Cocaine is God's way of saying you're making too much money.", except that today drugs are everywhere and its the crytocrap that's the harbinger.
 
eyephone said:
Why are your financial related posts after the fact?
Click to expand...

Because I get paid for telling them this way ahead of time. I just didn't tell you.  Stuff i post here is free and just for fun.
 
daedalus said:
I remember when I read about NFTs for the 1st time, it proved to me that there's too much money in this world, and we're losing all sense of its value.  It reminded me immediately of the Robin Williams' quote, "Cocaine is God's way of saying you're making too much money.", except that today drugs are everywhere and its the crytocrap that's the harbinger.
Click to expand...

Agree...the end is neigh...

Artist sells invisible sculpture for over $18K

An Italian artist sold an invisible sculpture for over $18,000 and had to give the buyer a certificate of authenticity to prove it?s real, the Daily Mail reported.

Salvatore Garau sold his piece, entitled ?Io Sono? (I am), to an unidentified buyer last month.

Italian auction house Art-Rite organized the sale of the ?immaterial? statue in May with a beginning estimated value coming in between $7,000 and $11,000.

?The vacuum is nothing more than a space full of energy, and even if we empty it and there is nothing left, according to the Heisenberg uncertainty principle, that ?nothing? has a weight,? the Sardinian-born artist explained, according to Hypebeast. ?Therefore, it has energy that is condensed and transformed into particles, that is, into us.?
[url]https://nypost.com/2021/06/03/artist-sells-invisible-sculpture-for-over-18k/[/url]
 
daedalus said:
I remember when I read about NFTs for the 1st time, it proved to me that there's too much money in this world, and we're losing all sense of its value.  It reminded me immediately of the Robin Williams' quote, "Cocaine is God's way of saying you're making too much money.", except that today drugs are everywhere and its the crytocrap that's the harbinger.
Click to expand...

Text book response is the fair value is whatever the market is willing to pay for it.
 
eyephone said:
Text book response is the fair value is whatever the market is willing to pay for it.
Click to expand...
That's a profound statement that doesn't really add any substance to the discussion of whether we're in an asset bubble.  It's true if prices are skyrocketing, and it's still true if prices are imploding.
 
daedalus said:
eyephone said:
Text book response is the fair value is whatever the market is willing to pay for it.
Click to expand...
That's a profound statement that doesn't really add any substance to the discussion of whether we're in an asset bubble.  It's true if prices are skyrocketing, and it's still true if prices are imploding.
Click to expand...

It is what it is. Why do people over pay for bansky art? Because there is a demand. Just like the current demand for GPUs. Outrages prices for GPUs but people are paying premium prices.
You think digital currency is a joke? China is rolling out its own digital currency.

Why did prices go up for the meme stocks? Because there is a demand. Are the valuations justified? Probably not

So my basic statement about fair value is correct. Have a nice day.  ;)

 
eyephone said:
daedalus said:
eyephone said:
Text book response is the fair value is whatever the market is willing to pay for it.
Click to expand...
That's a profound statement that doesn't really add any substance to the discussion of whether we're in an asset bubble.  It's true if prices are skyrocketing, and it's still true if prices are imploding.
Click to expand...
<snip>
China is rolling out its own digital currency.
<snip>
Click to expand...

Digital currency is the ultimate Government Control item when they have the control keys.

Oops, looks like your low Social Credit value has adversely impacted your digital currency exchange rate.  No loaf of bread for you. 
 
nosuchreality said:
eyephone said:
daedalus said:
eyephone said:
Text book response is the fair value is whatever the market is willing to pay for it.
Click to expand...
That's a profound statement that doesn't really add any substance to the discussion of whether we're in an asset bubble.  It's true if prices are skyrocketing, and it's still true if prices are imploding.
Click to expand...
<snip>
China is rolling out its own digital currency.
<snip>
Click to expand...

Digital currency is the ultimate Government Control item when they have the control keys.

Oops, looks like your low Social Credit value has adversely impacted your digital currency exchange rate.  No loaf of bread for you.
Click to expand...

Digital currency is the future. Watch you will see.
 
All the dollars in my bank and brokerage accounts are already digital.  I didn?t use cash for any of these balances.
 
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