How soon until Bitcoin crashes?

NEW -> Contingent Buyer Assistance Program
I have little doubt that some will survive (criminals need a currency too).  Which one and what form? (Myspace) is an open question.  People will lose a lot of money finding out.
 
Not only bitcoins, I would say that the highly lever entities would get crush. The real problem is the FED wait too long and when they crossed the rubicon of back stop everything and inflation is at 15 % is the real #, now they have no choice.

Biden presidency is at risks. He might be a one term pres.
 
irvinehomeowner said:
7%!!

That's like Irvine real estate dropping 5-10%!
Click to expand...

Using a 20% levered transaction that drop in real estate is more like a 20-50% loss on invested dollar.  Almost as bad a cash position in Bitcoin which is showing a 44% loss at $38,700.00.... off the recent high of $69000.00..pretty fugly...ouch! ;D ;D >:D
 
...so that Tesla you bought back in November with all that bitcoin went from $100,000.00 to being worth only $50,000 today?...I thought the re-sale value would be better with inflation and all...Ouch! ;D ;D >:D

$130 billion wiped off crypto markets in 24 hours as bitcoin, ether drop to multi-month lows

The cryptocurrency market saw around $130 billion wiped off its value over the last day, as major digital coins continued their multi-day sell-off.
Bitcoin and ether are off more than 50% from their all-time highs, trading at their lowest levels since July.
The movements in cryptocurrency markets have been correlated to the selling seen in higher risk assets like technology stocks as investors prepare for tighter monetary policy from the U.S. Federal Reserve and higher interest rates.
https://www.cnbc.com/2022/01/24/bit...illion-wiped-off-cryptocurrency-markets-.html
https://youtu.be/rnWopc3vNLQ
 
morekaos said:
irvinehomeowner said:
7%!!

That's like Irvine real estate dropping 5-10%!
Click to expand...

Using a 20% levered transaction that drop in real estate is more like a 20-50% loss on invested dollar.  Almost as bad a cash position in Bitcoin which is showing a 44% loss at $38,700.00.... off the recent high of $69000.00..pretty fugly...ouch! ;D ;D >:D
Click to expand...

It's amazing how the economics of a housing downturn still have to be explained, even after 15 years participating in these blogs/forums.
 
Designed by criminals?for criminals?well done.


Self-proclaimed 'Crocodile of Wall Street' and her husband are arrested for 'laundering $4.5B in Bitcoin stolen in 2016 Bitfinex exchange hack': Authorities recover $3.6B after seizing private keys to couple's digital wallets

Ilya Lichtenstein, 34, and his wife, Heather Morgan, 31, were arrested Tuesday
Justice Department announced the largest money seizure in its history
Bitcoin worth $3.6 billion was seized from accounts controlled by the couple
Prosecutors say the crypto was stolen in the 2016 hack of Bitfinex exchange
Lichtenstein and Morgan are charged with laundering the ill-gotten Bitcoin
Morgan is a rapper who once declared herself the 'Crocodile of Wall Street'
https://www.dailymail.co.uk/news/ar...ya-Lichtenstein-charged-money-laundering.html
 
morekaos said:
Designed by criminals?for criminals?well done.


Self-proclaimed 'Crocodile of Wall Street' and her husband are arrested for 'laundering $4.5B in Bitcoin stolen in 2016 Bitfinex exchange hack': Authorities recover $3.6B after seizing private keys to couple's digital wallets

Ilya Lichtenstein, 34, and his wife, Heather Morgan, 31, were arrested Tuesday
Justice Department announced the largest money seizure in its history
Bitcoin worth $3.6 billion was seized from accounts controlled by the couple
Prosecutors say the crypto was stolen in the 2016 hack of Bitfinex exchange
Lichtenstein and Morgan are charged with laundering the ill-gotten Bitcoin
Morgan is a rapper who once declared herself the 'Crocodile of Wall Street'
https://www.dailymail.co.uk/news/ar...ya-Lichtenstein-charged-money-laundering.html
Click to expand...

Curious... I thought one of the value propositions of Bitcoin was being able to transact anonymously.  Could it be that their outsized social media presence tipped authorities off? 

I'm curious how this crime was solved and what the implications for Bitcoin privacy will be when the facts come out.
 
Designed by criminals for crooks...

Fraudsters are using bots to drain cryptocurrency accounts

Fraudsters are selling bots on Telegram that are designed to trick investors into divulging their two-factor authentication, leading to accounts being wiped out.
Crypto investors are being targeted around the country.
Dr. Anders Apgar, a Coinbase customer, said his account had a balance of more than $100,000 in crypto when it was hacked during a robocall.
https://www.cnbc.com/2022/02/15/cry...rce=iosappshare|com.apple.UIKit.activity.Mail
 
Designed for Criminals by Criminals...

Data: Illicit crypto wallets hold over $25B as hacks, thefts mushroom

Major criminal wallets hold over $25 billion in cryptocurrency, new data showed on Wednesday, with the majority of illicit funds coming from theft with criminals engaged in increasingly brazen activities involving digital tokens.

Following last week's seizure by the U.S. Department of Justice of $3.6 billion in Bitcoin (BTC-USD) stolen from a 2016 hack against crypto exchange Bitfinex, blockchain analysis firm Chainalysis found more evidence showing illicit cryptocurrency flows.

Funds from illicit sources surged from $3 billion in 2020 to $11 billion of funds, with theft accounting for 93% of those balances, or $9.8 billion in cryptocurrency, the firm found. During the same period, however, Chainalysis estimated that total criminal activity made up a scant 0.15% of all blockchain economic activity.
https://finance.yahoo.com/news/data...-25-b-as-hacks-thefts-mushroom-142721296.html
 
Well its a syndrome now...guess that is a form or legitimacy..

?Crypto Ruined My Life?: The Mental Health Crisis Hitting Bitcoin Investors

The stress and anxiety that goes with funneling your life savings into a volatile market is no joke.

If you have a friend who?s ?into crypto?, then now is the time to check in on them. In late January, prices of Bitcoin and Ethereum, two of the most popular cryptocurrencies, plunged to levels that many experts never predicted, and memecoins like Dogecoin were dragged down with them. Countless people have watched thousands of pounds disappear before their eyes.

This was a sudden shock rather than a slow burn. Bitcoin reached an all-time high of around $69,000 (?50,850) in November, but then dropped over 40 percent within a few months. As a whole, the crypto market has decreased in value by more than $1 trillion (?737bn) since Bitcoin?s peak, but it has shown signs of rallying in the last week or so.

Many experts have touted crypto as a democratised form of Wall Street investing, with the prospect of financial elevation awaiting anyone who dares to join the party. But in reality, it seems to have panned out for only a select few. Many crypto-investors are ordinary people taking a risk with their life savings rather than elite traders who can swallow sudden losses. A recent CNBC survey of 750 crypto investors found that a third actually knew very little about what they were investing in. The question is: What happens to these people when they lose big?

Experts like Peter Klein, a cognitive behavioural psychotherapist who offers CBT for cryptocurrency-related mental health issues, have warned that the market crash will have caused an ?increase in the severity of the crypto addiction symptoms that people are experiencing?. It seems like this fast-growing investor community is generating its own fast-growing mental health crisis.
https://www.vice.com/en/article/akvn8z/crypto-bad-for-mental-health
 
Charlie Munger is a national treasure.  I wish this guy could live for another 100 years.

Berkshire Hathaway?s Charlie Munger compares crypto to ?venereal disease?
Berkshire Hathaway?s billionaire vice chairman Charlie Munger compared cryptocurrencies to a sexually transmitted disease ? and added that he believes the Chinese were right to ban them.

The 98-year-old, right-hand man to Warren Buffett blasted bitcoin and other digital currencies in an interview at the Daily Journal?s annual meeting. When a shareholder asked Munger if he was ?willing to admit he missed something? by not investing in crypto, Munger let loose.

?I?m proud of the fact that I avoided it. It?s like some venereal disease or something,? Munger said. ?I just regard it as beneath contempt. Some people think it?s modernity and they welcome a currency that?s useful in extortions and kidnappings and so on and so on, tax evasions.?
Click to expand...
https://nypost.com/2022/02/17/berkshire-hathaways-munger-crypto-like-a-venereal-disease/
 
morekaos said:
Well its a syndrome now...guess that is a form or legitimacy..

?Crypto Ruined My Life?: The Mental Health Crisis Hitting Bitcoin Investors

The stress and anxiety that goes with funneling your life savings into a volatile market is no joke.

If you have a friend who?s ?into crypto?, then now is the time to check in on them. In late January, prices of Bitcoin and Ethereum, two of the most popular cryptocurrencies, plunged to levels that many experts never predicted, and memecoins like Dogecoin were dragged down with them. Countless people have watched thousands of pounds disappear before their eyes.

This was a sudden shock rather than a slow burn. Bitcoin reached an all-time high of around $69,000 (?50,850) in November, but then dropped over 40 percent within a few months. As a whole, the crypto market has decreased in value by more than $1 trillion (?737bn) since Bitcoin?s peak, but it has shown signs of rallying in the last week or so.

Many experts have touted crypto as a democratised form of Wall Street investing, with the prospect of financial elevation awaiting anyone who dares to join the party. But in reality, it seems to have panned out for only a select few. Many crypto-investors are ordinary people taking a risk with their life savings rather than elite traders who can swallow sudden losses. A recent CNBC survey of 750 crypto investors found that a third actually knew very little about what they were investing in. The question is: What happens to these people when they lose big?

Experts like Peter Klein, a cognitive behavioural psychotherapist who offers CBT for cryptocurrency-related mental health issues, have warned that the market crash will have caused an ?increase in the severity of the crypto addiction symptoms that people are experiencing?. It seems like this fast-growing investor community is generating its own fast-growing mental health crisis.
https://www.vice.com/en/article/akvn8z/crypto-bad-for-mental-health
Click to expand...

It's hard to weather 50% downturns when you don't have any understanding of what it is you are "investing" in.
 
But Bekrshire recently invested a lot of money in a Brazilian bank that deals with crypto.

Mix message

Liar Loan said:
Charlie Munger is a national treasure.  I wish this guy could live for another 100 years.

Berkshire Hathaway?s Charlie Munger compares crypto to ?venereal disease?
Berkshire Hathaway?s billionaire vice chairman Charlie Munger compared cryptocurrencies to a sexually transmitted disease ? and added that he believes the Chinese were right to ban them.

The 98-year-old, right-hand man to Warren Buffett blasted bitcoin and other digital currencies in an interview at the Daily Journal?s annual meeting. When a shareholder asked Munger if he was ?willing to admit he missed something? by not investing in crypto, Munger let loose.

?I?m proud of the fact that I avoided it. It?s like some venereal disease or something,? Munger said. ?I just regard it as beneath contempt. Some people think it?s modernity and they welcome a currency that?s useful in extortions and kidnappings and so on and so on, tax evasions.?
Click to expand...
https://nypost.com/2022/02/17/berkshire-hathaways-munger-crypto-like-a-venereal-disease/
Click to expand...
 
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