#Cryptocrash

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
 
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well there is a little bit of a back story, which this tweet will help me tell

[tw]1524930093402955803[/tw]

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.
 
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Speaking of scams... Check out the this lol worthy ponzi that people believe in

Hilarious

[Tw]1524910535262732310[/tw]
 
Oh wait let's include the last two years too!

[Tw]1524384340674678786[/tw]

"Nobody could have seen this inflation coming!"
 
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.
 
nsacpi said:
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.
Click to expand...

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
 
nsacpi said:
well there is a little bit of a back story, which this tweet will help me tell

[tw]1524930093402955803[/tw]

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.
Click to expand...

This post explains so very much…

Are you saying the bitcoin has won a Nobel or nah?
 
nsacpi said:
the latter

there is some thread drift as in any thread but the thread is about a niche product as the thread title indicates
Click to expand...

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.
 
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.
 
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sturg33 said:
It is sad how badly you failed those students
Click to expand...

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.
 
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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
 
Well feel free to bump up this thread over the next few months to update us on how it's going.
 
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.
 
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.
 
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