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Thread: #Cryptocrash

  1. #21
    Expects Yuge Games nsacpi's Avatar
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    crypto has some resemblances to gold

    one difference is that gold has some intrinsic value...for jewelry...and for a limited number of industrial processes

    interesting to see gold hang in there the past few weeks, showing some of its utility as a diversifying asset
    Last edited by nsacpi; 05-12-2022 at 08:52 PM.
    "I am a victim, I will tell you. I am a victim."

    "I am your retribution."

  2. #22
    Expects Yuge Games nsacpi's Avatar
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    Quote Originally Posted by Tapate50 View Post
    Is this thread celebrating people losing wealth or am I misreading it ?
    the latter

    there is some thread drift as in any thread but the thread is about a niche product as the thread title indicates
    "I am a victim, I will tell you. I am a victim."

    "I am your retribution."

  3. #23
    Expects Yuge Games nsacpi's Avatar
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    well there is a little bit of a back story, which this tweet will help me tell

    Last edited by nsacpi; 05-12-2022 at 09:04 PM.
    "I am a victim, I will tell you. I am a victim."

    "I am your retribution."

  4. #24
    I <3 Ron Paul + gilesfan sturg33's Avatar
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    I just learned that nsacpi is a professor and holy **** everything makes so much sense now

  5. #25
    I <3 Ron Paul + gilesfan sturg33's Avatar
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    Speaking of scams... Check out the this lol worthy ponzi that people believe in

    Hilarious


  6. #26
    I <3 Ron Paul + gilesfan sturg33's Avatar
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    Oh wait let's include the last two years too!


  7. #27
    I <3 Ron Paul + gilesfan sturg33's Avatar
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    Meanwhile... Bitcoin is only up 7,000% in worthless us dollars over the last 10 years...

    And there's only 21m of them that will ever be available.

  8. #28
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    Quote Originally Posted by nsacpi View Post
    A few years ago I was asked to teach a course on crypto, blockchain technology and some other financial innovations. A couple students objected to my characterization of cryto along the lines of the tweet above. So I told them they could give the last two lectures. Which they did, offering a more positive take on crypto. I just sat quietly in the back listening with some popcorn.

    think of crypto as financial Ivermectin.
    The hilarious thing about this is... Let's say a few years ago = 3 years.

    3 years ago, BTC was valued at $8,100

    Today, it's worth nearly 4x that price (270% higher) which is coming off the heals of a 50% drop. Compared to the S&P, which is up 38% during that time

    These poor students were trying to help an old man while he smugly laughed at them eating his popcorn. I hope they ignored your advice, as almost all professors should be. The buffoon failed these kids, of course, by discouraging them from a substantially better and wiser wealth creator

    This is why the academic class is a laughing stock

  9. #29
    It's OVER 5,000! Tapate50's Avatar
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    Quote Originally Posted by nsacpi View Post
    well there is a little bit of a back story, which this tweet will help me tell

    This post explains so very much…

    Are you saying the bitcoin has won a Nobel or nah?
    Ivermectin Man

  10. #30
    It's OVER 5,000! Tapate50's Avatar
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    Quote Originally Posted by nsacpi View Post
    the latter

    there is some thread drift as in any thread but the thread is about a niche product as the thread title indicates
    I think I’m reading it right as some of your latter posts indicate. I’ve got a dark side for humor, but even this is …. Low.
    Ivermectin Man

  11. #31
    Expects Yuge Games nsacpi's Avatar
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    Anyone short crypto has made a lot of money the past few months. So it's not all bad.

    Plus buying opportunity, buy on the dips, and all that jazz.

    And caveat emptor I suppose.
    Last edited by nsacpi; 05-13-2022 at 07:04 AM.
    "I am a victim, I will tell you. I am a victim."

    "I am your retribution."

  12. #32
    I <3 Ron Paul + gilesfan sturg33's Avatar
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    It is sad how badly you failed those students

  13. #33
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    Results on the field and all that jazz

  14. #34
    Expects Yuge Games nsacpi's Avatar
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    Quote Originally Posted by sturg33 View Post
    It is sad how badly you failed those students
    I keep in touch with a couple of them, including one of the crypto bros. They work for one of the bigger banks in the Middle East (the sponsor for the class I taught). They're doing ok, though somewhat wishful of heeding my words of wisdom.

    Last fall I remember having conversations with another group of crypto bros and was able to persuade some of them to get out while they could. They are quite grateful. One of them owns a restaurant and I don't think I'll ever have to pay for a meal there.
    Last edited by nsacpi; 05-13-2022 at 07:49 AM.
    "I am a victim, I will tell you. I am a victim."

    "I am your retribution."

  15. #35
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    My average BTC price $804 and I would hate myself if I had let an old loser talk me out of it.

    It sucks it has crashed 50% but that's happened I think 5 different times now that I've owned... Has offered plenty of buying opps and I believe this is another (although I think it can go as low as $18k this round)

    To suggest this asset crash is only crypto though is insane and I would invite you to look at my tech/growth portfolio... Much more painful and certainly don't have the 1,000%+ returns there

  16. #36
    Expects Yuge Games nsacpi's Avatar
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    Well feel free to bump up this thread over the next few months to update us on how it's going.
    "I am a victim, I will tell you. I am a victim."

    "I am your retribution."

  17. #37
    It's OVER 5,000! Tapate50's Avatar
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    People have been preaching a market correction for over 3 years. At least my guy has.... Not sure how that makes one "wise".

    You are kinda clowning yourself in this thread. Its....sad.
    Ivermectin Man

  18. #38
    Expects Yuge Games nsacpi's Avatar
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    There was a pretty big correction in March 2020. That DID create a good buying opportunity.
    "I am a victim, I will tell you. I am a victim."

    "I am your retribution."

  19. #39
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    Quote Originally Posted by nsacpi View Post
    There was a pretty big correction in March 2020. That DID create a good buying opportunity.
    Btc up 478% from March 2020

    S&p up 72% from March 2020

    How are you so wrong about so many things so consistently?

  20. #40
    Expects Yuge Games nsacpi's Avatar
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    Poster 1: The correction in March 2020 created a good opportunity.

    Poster 2: Cites large increases in two asset classes since March 2020 to show how wrong poster 1 is.

    Alexa what did you do with that rolling eyes emoji.
    "I am a victim, I will tell you. I am a victim."

    "I am your retribution."

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