Storm warning. Massive conversion of USD to Crypto -

mindlessobserver

True & Honest Fan
kiwifarms.net
All of the Crypto markets are exploding in the last month.

Bitcoin.
Screenshot_20210208-234221_Coinbase.jpg

Ethereum
Screenshot_20210208-234205_Coinbase.jpg

BAT
Screenshot_20210208-234247_Coinbase.jpg

Even fucking DOGE
Screenshot_20210208-234348_Samsung Internet.jpg

This is unreal, and I cannot imagine it's a good sign. This is a massive exodus of dollars into crypto. We are talking tens of billions of dollars here in the span of two weeks.
 

melty

True & Honest Fan
kiwifarms.net
The last time the market crashed coins crashed too though
What's changed since then? The elites did more research?
Like it makes sense to me why crypto is a good store of value, but I have some hesitation that this isn't just yet another scheme to steal money from the 99% and they are going to pull the rug out from under us as soon as the plebs decide crypto is a good investment.
 

mindlessobserver

True & Honest Fan
kiwifarms.net
I think the key difference is the value of coins in retail was solely dependent on small time investors in 2008. Now, not so much. There is huge institutional investment. Hell, Visa now has credit cards backed by crypto on its platform. Its also not optioned to all hell like Gold and Silver are.

That is my best guess anyway. This surge cannot be explained by Musk shilling crypto on twitter. Even the 1.5 billion from Tesla into bitcoin cant explain it. The only way this is happening is if major funds and banks are adding a huge quantity of crypto to their portfolios.
 

melty

True & Honest Fan
kiwifarms.net
I think the key difference is the value of coins in retail was solely dependent on small time investors in 2008. Now, not so much. There is huge institutional investment. Hell, Visa now has credit cards backed by crypto on its platform. Its also not optioned to all hell like Gold and Silver are.

That is my best guess anyway. This surge cannot be explained by Musk shilling crypto on twitter. Even the 1.5 billion from Tesla into bitcoin cant explain it. The only way this is happening is if major funds and banks are adding a huge quantity of crypto to their portfolios.
Oh I didn't really mean 2008 - I meant the crash March last year, or whatever you want to call it. Crypto, gold, stocks all tanked exactly the same time. I'm still not sure what was the "safe" investment there, ammo I suppose?
 

mindlessobserver

True & Honest Fan
kiwifarms.net
Oh I didn't really mean 2008 - I meant the crash March last year, or whatever you want to call it. Crypto, gold, stocks all tanked exactly the same time. I'm still not sure what was the "safe" investment there, ammo I suppose?

Probably hard cash in that case. It was before the central banks had completely nuked faith in the almighty dollar. Moneys value is as much an exercise in collective belief as it is hard value. I am very worried this belief has been broken as people have literally watched the money printer go BRRRRRRRRRRRRR in 2020. The central banks have created a monster. They have floated a ton of complex financial instruments through the COVID crisis using printed money. ALOT of printed money. There are trillions of US dollars out there in the wild that need to be unwound and they simply cannot find a path to doing so. The entire ledger has become an unholy mess. Even Gold and Silver are caught up in it as the major funds have hedged their bets with paper options of both, and then further muddled the waters with complex financial instruments in both.

I think the block chain ledgers are the ONLY financial instruments left with clearly determined value. Jesus christ I am writing this post and even I cannot believe what I am writing. Someone PLEASE call me a sped and tell me to calm down.
 

tehpope

My Face Everyday | Archivist
True & Honest Fan
kiwifarms.net
I think everyone is looking for the next $GME. The next big money making scheme. I know that event had me look into Crypto again. Even Sam fucking Hyde posted a thing on Gumroad saying now is the time to start investing. He said "the transfer of wealth from boomers to millenials/gen-z'ers is happening right now all at once and will continue for probably like 3 years before the musical chairs game is over".

I bought some Ethereum in late 2017. It jumped up a ton since the last time I looked at it (was at ~$40 during tax season 2020).
 

PetrifiedTom

Bugged life mechanics!
kiwifarms.net
That kinda reminds me the plot of Mr. Robot.
To any who didn't watched the show. Big Corpo goes batshit insane after their digital storage about credit info of every fucken citizen goes null. The reception is to impose new, digital currency similar to BTC.

Fantastic that the fiction becomes reality... but why the shitty one?
 

MarvinTheParanoidAndroid

This will all end in tears, I just know it.
True & Honest Fan
kiwifarms.net
That kinda reminds me the plot of Mr. Robot.
To any who didn't watched the show. Big Corpo goes batshit insane after their digital storage about credit info of every fucken citizen goes null. The reception is to impose new, digital currency similar to BTC.

Fantastic that the fiction becomes reality... but why the shitty one?
Makes perfect sense to me, BTC can't be inflated by a money printer in the hands of a retarded government, it has to be milled by a PC's CPU/GPU.
 

Likeigod

kiwifarms.net
What you are currently seeing is the normies rushing at once to buy into something they see will make money and the people actually holding the coins will soon sell

This is a regular market occurrence

my boss started talking to me today about bitcoin and as he walked away, i sold 50% of my holdings of btc and eth. I dont care if im wrong ive made a lot of money, and im pretty sure a correction is right around the corner
 

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