NFR Buy on the Crypto Dip?

[GOTY]

The Federal Reserve is now fighting inflation. Another interest rate increase is coming in June. They are intentionally cooling off the stock market, bond market, real estate, crypto speculation, etc. The Fed wants to decrease asset prices now. Wall Street sharks slaughtered Luna overnight. They see opportunity in crushing holders of crypto.

Free advice: Sell all of your crypto today for USD. Put this money in something giving a safe return. Don't crypto speculate again until the Fed halts tightening. Thank me later.

Powell: 'Some pain' may be required to slow inflation

Federal Reserve Chairman Jerome Powell said Tuesday that the central bank will continue to raise short-term interest rates until there is “clear and convincing evidence” that inflation is coming down.

finance.yahoo.com

Bitcoin is down nearly 50% since you wrote this and countless others are worth literally $0.00. Can we get more free advice please?



On a serious note the fallout from this FTX garbage will be fascinating to watch. Turns out the savior of crypto is just another fraud/con man, and the other con men are jumping at this opportunity to profit off of those desperate to get any of their $$ back. I genuinely feel terrible for those that (once again) lost all of their cash and are now asking for regulators to help....but deregulation was the war drum they banged on for years.

 

[Evan B]

I'm into it. I set myself up to be ready for this kind of bloodbath and it's been amazing. I made a few buys over the last few days, but the majority of my ammo is still waiting for another cratering below this. Fingers crossed.

 

[Robert Engleheart]

My feeling are that if you got in at the early stages it’s much like any other multi-level marketing or ponzI scheme (Amway). I know people who’ve made serious coin in both crypto and Amway but they got in early. If you’re playing with house money that’s great, I’m happy for Evan and others who are, but it isn’t for this guy.

 

[Evan B]

My feeling are that if you got in at the early stages it’s much like any other multi-level marketing or ponzI scheme (Amway). I know people who’ve made serious coin in both crypto and Amway but they got in early. If you’re playing with house money that’s great, I’m happy for Evan and others who are, but it isn’t for this guy.

Well, we're getting back to "early" pricing. If you're smart and play it slow, there's still great opportunities to be had. But I always tell people, if you're not willing to treat it like a second job, don't do it. It isn't a "set it and forget it" type of speculative investment. You have to actively be involved, and have to know and understand your own risk tolerance and ability to keep your emotions in check. If you can approach it with a realistic, level-headed strategy, there's still great opportunities.

I do empathize for those who got in at bad times and have been riding this down, though.

 

[Peyton00]

Humans fear what they don't comprehend.

 

[TicTokCroc]

As we move closer to a one world government and bank with no physical currency, crypto will be the way to go.. if it's not outlawed. I was skeptical at first but now I'm on the crypto wagon, the legitimate ones will have their place in the future.

 

[Evan B]

As we move closer to a one world government and bank with no physical currency, crypto will be the way to go.. if it's not outlawed. I was skeptical at first but now I'm on the crypto wagon, the legitimate ones will have their place in the future.

I mean, they can't really outlaw it that much. The most they can do is make it harder to exchange for fiat currency. I don't think that'll ever happen honestly. They'd be stifling way too much innovation and any country who does it risks getting knocked down a few pegs with future technologies. Blockchain as a technology absolutely has a future, speculative investments aside.

 

[RCF]

Lets see...

Meta aka Facebook is down 75% this year.
Amazon is the first stock to lose 1 trillion in market cap ever.
Twitter may need to go into bankruptcy because it does not have the cash flow to pay its debt.

It is not just Bitcoin, crypto, etc. that one needs to be actively managing investments and risk-reward.

 

[Coach Potter]

Humans fear what they don't comprehend.

Agreed...but sometimes that fear is healthy and should be the reason for pause. As a licensed professional I can't weigh in on investment discussions in a public forum setting.

 

[Cabezon]

"Nobody ever went broke underestimating the intelligence of the American people" attributed to H.L. Mencken...
Steve

 

[Evan B]

Agreed...but sometimes that fear is healthy and should be the reason for pause. As a licensed professional I can't weigh in on investment discussions in a public forum setting.

I agree. Not sure "fear" is the word I'd use, but a healthy amount of respect for something, knowing what can go wrong and how badly if you don't proceed with proper caution.

 

[Robert Engleheart]

The old saying attributed to poker “ If you don’t know who the sucker is it’s probably you” comes to mind.

 

[Coach Potter]

I agree. Not sure "fear" is the word I'd use, but a healthy amount of respect for something, knowing what can go wrong and how badly if you don't proceed with proper caution.

I guess I used the term fear because fear and greed seem to be the two drivers for most people. I always ask people if they know what they own and why they own it. Most people feel like they know "why" they own something but often times they don't actually know "what" they own. I don't think you should ever buy something when you don't actually know what it is.

 

[Evan B]

The old saying attributed to poker “ If you don’t know who the sucker is it’s probably you” comes to mind.

The suckers are the ones who are my exit liquidity

 

[NRC]

The suckers are the ones who are my exit liquidity

If you want exit liquidity, I recommend investing in Taco Bell’s new Fiery Doritos Locos Tacos.

 

[Mossback]

Investing in fast food will always give you the exit liquidity you seek...but with less heartburn than crypto.
Then it's all over but the paperwork.

 

[GOTY]

Lets see...

Meta aka Facebook is down 75% this year.
Amazon is the first stock to lose 1 trillion in market cap ever.
Twitter may need to go into bankruptcy because it does not have the cash flow to pay its debt.

It is not just Bitcoin, etc. that one needs to be actively managing investments and risk-reward.

Agreed. Companies go bankrupt (to 0) all the time. The issue isn't if an investment goes up or down. That happens regardless of what the investment is.

The current issue is the equivalent of the CEO of Black Rock taking the ~10 trillion in client assets and using them to bet on insanely risky things. If he wins, he gets the profits. If he loses, the clients lose their money. To make things crazier, the Black Rock CEO would have started a "hedge fund" and turn it over to his girlfriend (who is in her 20s with very limited knowledge). Of course, he would then let his girlfriend make some fun bets with the trillions of client assets as well, because why not! Then once this all blows up in spectacular fashion and trillions in client assets have vanished, the only way for clients to get some of their cash back is to pay the Black Rock CEO's friend, who runs Fidelity, up to $40 for each $1 you get back. Or the other option is to create a fake identity in the Bahamas, bribe a Black Rock employee for $100,000, and launder the money, thereby commiting a felony yourself.

Just a little different. No good outcome for those who got scammed out of their $$. Had some friends lose some $$ this week. No clue why people still trust crypto exchanges, but that's how it goes.

I hope they regulate the F out of this and drop the absolute hammer on those who are responsible. Unfortunately the individual at the center of this is the 2nd largest political donor in the country, so we will see how my much protection he has bought.

Last edit: that's enough crypto for me this week. Happy Friday, time to go fishing!

 

[Evan B]

Agreed. Companies go bankrupt (to 0) all the time. The issue isn't if an investment goes up or down. That happens regardless of what the investment is.

The current issue is the equivalent of the CEO of Black Rock taking the ~10 trillion in client assets and using them to bet on insanely risky things. If he wins, he gets the profits. If he loses, the clients lose their money. To make things crazier, the Black Rock CEO would have started a "hedge fund" and turn it over to his girlfriend (who is in her 20s with very limited knowledge). Of course, he would then let his girlfriend make some fun bets with the trillions of client assets as well, because why not! Then once this all blows up in spectacular fashion and trillions in client assets have vanished, the only way for clients to get some of their cash back is to pay the Black Rock CEO's friend, who runs Fidelity, up to $40 for each $1 you get back. Or the other option is to create a fake identity in the Bahamas, bribe a Black Rock employee for $100,000, and launder the money, thereby commiting a felony yourself.

Just a little different. No good outcome for those who got scammed out of their $$. Had some friends lose some $$ this week. No clue why people still trust crypto exchanges, but that's how it goes.

I hope they regulate the F out of this and drop the absolute hammer on those who are responsible. Unfortunately the individual at the center of this is the 2nd largest political donor in the country, so we will see how my much protection he has bought.

Last edit: that's enough crypto for me this week. Happy Friday, time to go fishing!

I think Coinbase and Kraken can be trusted as much as can be trusted in that world, but I still never ever leave my anything on exchanges. If you don't hold custody of your own crypto, then you're just asking to get rekt.

 

[DimeBrite]

DOJ, SEC, FBI are busy putting together the evidence to prosecute multiple parties in cryptoland. Gonna get very ugly.
Enron, WorldCom, Arthur Anderson, Bernie Madoff, AIG, Lehman Brothers, Theranos, etc. Get ready to see the new "smartest guys in the room" wearing orange jumpsuits. Another bubble ends with hubris punished and the unwitting bag holders working an extra 10 years.
Congressional hearings, layers of regulation, and tight IRS reporting rules should finish it off.

 

[Evan B]

View attachment 40712
DOJ, SEC, FBI are busy putting together the evidence to prosecute multiple parties in cryptoland. Gonna get very ugly.
Enron, WorldCom, Arthur Anderson, Bernie Madoff, AIG, Lehman Brothers, Theranos, etc. Get ready to see the new "smartest guys in the room" wearing orange jumpsuits. Another bubble ends with hubris punished and the unwitting bag holders working an extra 10 years.
Congressional hearings, layers of regulation, and tight IRS reporting rules should finish it off.

Good. Some regulatory framework will help. I'm all for it.