How soon until Bitcoin crashes?

NEW -> Contingent Buyer Assistance Program
morekaos said:
So with no central bank to throw a lifeline?the thieves must try to save themselves?.

Bitcoin billionaire Sam Bankman-Fried bails out embattled crypto firms BlockFi and Voyager

With no central bank willing to come to the rescue, beleaguered crypto companies are turning to their peers for help.

Billionaire crypto exchange boss Sam Bankman-Fried has signed deals to bail out two firms in as many weeks: BlockFi, a quasi-bank, and Voyager Digital, a digital asset brokerage.
https://www.cnbc.com/2022/06/22/sam-bankman-fried-rescues-crypto-lenders-blockfi-voyager.html?
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And what happens when the lifetimes aren't enough and these bailed out crypto companies go belly up?  Will they drag FTX down as well?  I just can't see things getting better as the Fed sucks out liquidity out of the market.
 
Like all Unicorn and Rainbow believers?faith cannot overcome reality and gravity?.

NFT Market Collapse | Will It Recover Or Not?

Recently the graphics of the NFT market went down. Even the most successful NFT collections could not survive the downfall. The floor prices of top NFTs crashed.  In this post, we will discuss more on the NFT market collapse.

From June 10 onwards the graph started to decline. The top NFT collections including Bored Ape Yacht Club and Mutant Ape Yacht club went down with their floor prices crashing in both Eths and US dollars. Is this the end of NFT culture or will it rise again?
https://deasilex.com/nft-market-collapse/
 
I wish articles actually gave more details when they say 'crash' 'collapse' 'soared'. Those Bored Apes currently have a floor of 89 Eth which is ~$99k USD right now (https://opensea.io/collection/boredapeyachtclub). That is the lowest you can buy 1 of them right now. Although they have come down, it still seems quite expensive.
 
zovall said:
I wish articles actually gave more details when they say 'crash' 'collapse' 'soared'. Those Bored Apes currently have a floor of 89 Eth which is ~$99k USD right now (https://opensea.io/collection/boredapeyachtclub). That is the lowest you can buy 1 of them right now. Although they have come down, it still seems quite expensive.
Click to expand...

I wouldn't buy one for $99.
 
It?s why they call it a fad?.. ;D ;D >:D

Inside the crypto restaurant after the crypto crash

When Bored & Hungry first opened in Long Beach in April, the burger joint didn?t just embrace the aesthetics of crypto culture. It was all-in on the digital money part too.

Sure, meme-y references to rockets and bulls dotted the walls, and Bored Apes ? those cartoon monkeys that celebrities such as Paris Hilton and Post Malone have touted as six-figure investments ? covered the cups and trays. But customers were also offered the option to pay for their meals in cryptocurrency. The restaurant was putting its bitcoin where its mouth was, so to speak.

Not even three months later, in the midst of a crypto crash that has some investors looking for the door, that is no longer the case.

https://www.latimes.com/business/technology/story/2022-06-24/this-restaurant-is-crypto-themed-you-still-have-to-pay-in-dollars?fbclid=IwAR0pqevsMlhTLOUVqU8Q8ibn5zb1UNrlycSGlFDUzVKLHXVL4bKZfSEFdGs&fs=e&s=cl
 
Designed by criminals for criminals?.

Embattled crypto lender Celsius is a 'fraud' and 'Ponzi scheme,' lawsuit alleges

Crypto lender Celsius artificially inflated the price of its own digital coin, failed to hedge risk and engaged in activities that amounted to fraud, a lawsuit alleges.
Celsius on Thursday was sued by former investment manager Jason Stone, as pressure continues to mount on the firm amid a crash in cryptocurrency prices.
Stone alleges in the lawsuit that Celsius was running a ?Ponzi scheme.?
https://www.cnbc.com/2022/07/08/cry...a-fraud-and-ponzi-scheme-lawsuit-claims.html?
 
It was only last year that one of the founders of Celsius posted a video mocking Warren Buffett.. D'oh!

Billion-dollar crypto company Celsius collapses in wake of violent market crash

The organization, which built its business off claims that it was less risky than a bank and would provide better returns, will be restructured after it was taken down by the dramatic plunge in the value of cryptocurrency.
https://www.yahoo.com/entertainment/billion-dollar-crypto-company-celsius-112413922.html
 
Liar Loan said:
It was only last year that one of the founders of Celsius posted a video mocking Warren Buffett.. D'oh!

Billion-dollar crypto company Celsius collapses in wake of violent market crash

The organization, which built its business off claims that it was less risky than a bank and would provide better returns, will be restructured after it was taken down by the dramatic plunge in the value of cryptocurrency.
https://www.yahoo.com/entertainment/billion-dollar-crypto-company-celsius-112413922.html
Click to expand...

When it sounds too good to be true....you know the rest.
 
USCTrojanCPA said:
Liar Loan said:
It was only last year that one of the founders of Celsius posted a video mocking Warren Buffett.. D'oh!

Billion-dollar crypto company Celsius collapses in wake of violent market crash

didn?t one of the founders mocked Warren Buffet last year?

The organization, which built its business off claims that it was less risky than a bank and would provide better returns, will be restructured after it was taken down by the dramatic plunge in the value of cryptocurrency.
https://www.yahoo.com/entertainment/billion-dollar-crypto-company-celsius-112413922.html
Click to expand...

When it sounds too good to be true....you know the rest.
Click to expand...
 
How long can they maintain $200 in electricity per transaction?  The others will suffer the same fate, the bigger they get the more energy per transaction.

By far the most power-hungry crypto in our study, we found that a single Bitcoin transaction uses an average of 1,173 Kilowatt Hours (kWh). If we consider that the average monthly electricity usage for a UK household is 350 kWh, that?s enough to power the typical UK home for more than three months at a cost of roughly ?125 ($173), based on a fixed cost of ?0.11 ($0.148) per kWh
https://www.moneysupermarket.com/ga...a2ILF66ySPztu3MFQvhU-1657976831-0-gaNycGzNB70
Click to expand...
 
nosuchreality said:
How long can they maintain $200 in electricity per transaction?  The others will suffer the same fate, the bigger they get the more energy per transaction.

By far the most power-hungry crypto in our study, we found that a single Bitcoin transaction uses an average of 1,173 Kilowatt Hours (kWh). If we consider that the average monthly electricity usage for a UK household is 350 kWh, that?s enough to power the typical UK home for more than three months at a cost of roughly ?125 ($173), based on a fixed cost of ?0.11 ($0.148) per kWh
https://www.moneysupermarket.com/ga...a2ILF66ySPztu3MFQvhU-1657976831-0-gaNycGzNB70
Click to expand...
Click to expand...

That estimation is based on fixed cost, but I think most utility companies use tier system. So if you overuse by that much, it's going to cost a whole lot more per kWh.
 
Created by criminals?for criminals?

Hackers drain nearly $200 million from crypto startup in ?free-for-all? attack

?        Hackers yanked almost $200 million in crypto from Nomad, a so-called blockchain bridge.

?        Blockchain bridges allow users to transfer tokens from one network to another.

?        They?ve become a prime target for hackers seeking to swindle investors out of millions.
https://www.cnbc.com/2022/08/02/hac...rce=iosappshare|com.apple.UIKit.activity.Mail
 
?.a force for good in the world? ;D ;D >:D

CRYPTO WORLD
Ongoing solana attack targets thousands of crypto wallets, costing users more than $5 million so far

?        Nearly 8,000 digital wallets have been drained of just over $5.2 million in digital coins including solana?s sol token and USD Coin (USDC), according to blockchain analytics firm Elliptic.

?        The Twitter account Solana Status confirmed the attack, noting that as of Wednesday morning, approximately 7,767 wallets have been affected by the exploit. Elliptic?s estimate is slightly higher at 7,936 wallets.
https://www.cnbc.com/2022/08/03/hac...rce=iosappshare|com.apple.UIKit.activity.Mail

Homeless, suicidal, down to last $1,000: Celsius investors beg bankruptcy judge for help

?        Some of the 1.7 million Celsius customers ensnared by the alleged fraud are now directly pleading with the Southern District of New York to help them get their money back.

?        It is the latest sign that bankruptcy court has become the de facto arbiter of crypto policy in the U.S.
https://www.cnbc.com/2022/08/02/cel...rce=iosappshare|com.apple.UIKit.activity.Mail
 
Created by criminals?for criminals?

Crypto criminals laundered $540 million by using a service called RenBridge, new report shows


?        RenBridge has been used to launder at least $540 million in crime-related crypto cash since 2020, according to new research from blockchain analytics firm Elliptic.

?        Cross-chain bridges are used to send digital assets across blockchains, bypassing a centralized service that can trace transactions.

?        ?They?re effectively ungoverned, and so very vulnerable to hacks, or to being used in crimes like money laundering,? said David Carlisle, Elliptic?s vice president of policy and regulatory affairs.

https://www.cnbc.com/2022/08/10/cry...rce=iosappshare|com.apple.UIKit.activity.Mail
 
Designed by criminals?for criminals?more Unicorns and Rainbow dreams turn to ashed up nightmares?..

Cryptocurrency's own 'Bernie Madoff'? Inside WILD world of former Disney child star-turned-crypto billionaire who founded controversial Tether coin - which experts have dubbed a 'ponzi scheme' that could bring down the industry once and for all
?        As values in cryptocurrency plummeted  in cryptocurrency over the last six months, experts fear 'the worst is yet to come' and focus their scrutiny on 'Tether' - a stablecoin that they say can bring the whole system down
?        The coin was invented by Brock Pierce, 41, a former Disney child actor turned-crypto-billionaire with a dicey business track record that links him to a Hollywood child sex abuse ring in his early professional years 
?        Pierce's wide orbit includes Akon the rapper and Trump consigliere, Steve Bannon, with whom he ran an internet gaming business that essentially allowed customers to cheat at video games in the 2010s
?        He has also been associated with pedophile Jeffrey Epstein, with whom he counseled on cryptocurrency and spoke at a 'Mindshift' conference hosted by Epstein in the Virgin Islands in 2011
?        Pierce says he no longer has any affiliation with the controversial Tether coin - which regulators worry is putting investor's money at risk and has been described a 'Ponzi scheme larger than Bernie Madoff'
?        Pierce pivoted to politics in 2020 with a failed bid for US President, and recently dropped out of the Vermont Senate race over lingering questions regarding his legal residency in the state
?        Today Tether is run by a former plastic surgeon who was once sued by Microsoft for selling counterfeit software and a Dutchman who has never given an interview or spoken publicly
https://www.dailymail.co.uk/news/ar...cryptocurrency-founder-dodgy-Tether-coin.html
 
Really was the top…works every time…😂😂😂

All Those Celebrities Pushing Crypto Are Not So Vocal Now

Crypto boosters such as Matt Damon, Reese Witherspoon and Gwyneth Paltrow have been criticized for hyping virtual currency without highlighting the risks.

Enthusiasm for crypto from Hollywood celebrities and top athletes reached a fever pitch over the past year. On social media, during interviews and even in music videos, they portrayed virtual currency as a world with its own hip culture and philosophy — one that was more inclusive than traditional finance and that involved the chance to make loads of money.

The Super Bowl was nicknamed the “Crypto Bowl” this year because so many ads — which cost as much as $7 million for 30 seconds — featured the industry, several of them starring boldface names.

https://www.nytimes.com/2022/05/17/...eth-paltrow-matt-damon-reese-witherspoon.html

Tom Brady Likely Lost Big With FTX Crypto Collapse

Back in 2021 Tom Brady and his then wife, Brazilian model Gisele Bündchen, reportedly planted a large stake into the FTX crypto exchange, after having already announced a partnership with FTX and its CEO Sam Bankman-Fried back in 2020. As brand ambassadors, the two gained an unknown equity stake in the company in exchange for crypto, likely FTX’s native coin FTT.



https://news.yahoo.com/tom-brady-likely-lost-big-155500105.html
 
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