# May 21 Crypto Crash?



## BSV (May 21, 2021)

Hi guys, I bought the dip today, and then I bought the dip again. But it just keeps going down. I am not worried for the long term because I am accumulating coins and Hodling.  But I really wonder how low it can go. Is this fall simply china banning Bitcoin again? How I understand it they have always viewed bitcoin as a commodity anyways. And I don't think that have changed. And it's not like something happened to the fiat currencies that makes them less deflationary. Bitcoin isn't going anywhere, so why the big uncertainty now. Does anyone have an idea?


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## Wowcoolusername (May 21, 2021)

I think it has something to do with Star Wars. I have no evidence to suggest George Lucas is behind it, but I've never trusted that guy. His face looks like a hairy thumb and it creeps me out.


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## knobslobbin (May 21, 2021)

Chillax brah, and come back in six months.


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## BlueArmedDevil (May 21, 2021)

Imo that bubble was gonna pop sooner or later


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## MrTroll (May 21, 2021)

I bought a salmon dip. I intend to hodl (until I eat it).


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## Jimjamflimflam (May 21, 2021)

At least on the plus side, if all this crashes and never recovers there will be a great market of graphics card for cheap.


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## BSV (May 21, 2021)




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## Spasticus Autisticus (May 21, 2021)

Bitcoin isn't a commodity. Commodities have uses. Bitcoin doesn't. It fails as a form of payment: the transaction fees are extortionate and the confirmation times are too long. It fails as a store of value: its value is too volatile. It is nothing more than an instrument for speculation.



Jimjamflimflam said:


> At least on the plus side, if all this crashes and never recovers there will be a great market of graphics card for cheap.


I wouldn't buy any used card from a mining rig. However we might actually be able to buy new GPUs for MSRP directly from a retailer again.


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## BSV (May 21, 2021)

Spasticus Autisticus said:


> Bitcoin isn't a commodity. Commodities have uses. Bitcoin doesn't. It fails as a form of payment: the transaction fees are extortionate and the confirmation times are too long. It fails as a store of value: its value is too volatile. It is nothing more than an instrument for speculation.


I somewhat agree with that, but the attitude that china have had legally towards it. Like certain regulations was what i meant.


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## HOMO FOR LIFE (May 21, 2021)

Spasticus Autisticus said:


> I wouldn't buy any used card from a mining rig. However we might actually be able to buy new GPUs for MSRP directly from a retailer again.


Oh my god pls. Bitcoin and all crypto should collapse just for this reason. Fuck miners.


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## MrTroll (May 21, 2021)

Spasticus Autisticus said:


> I wouldn't buy any used card from a mining rig.



I've heard mixed things about this. Supposedly it's common practice to undervolt and downclock mining cards for some efficiency-related reason I don't fully understand, so they're not exactly being beaten to death. Also, most cards that fail do so early in their life as a result of some manufacturing flaw in the chip fabrication process, so crypto mining is a sort of stress test in a way.


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## Spasticus Autisticus (May 21, 2021)

BSV said:


> I somewhat agree with that, but the attitude that china have had legally towards it. Like certain regulations was what i meant.


I think the following factors are all playing into the downward movement of crypto that started last week:

Tesla announces it would stop taking BTC payments, citing environmental concerns. Rumors abound that they have sold or are selling off BTC
Tether reveals their backing, showing they are majority backed by commercial paper and loans, not in cash as they used to claim
Vitalik Buterin pulls a Bogdanoff and doomps millions-worth of Doge-inspired shitcoins
Countless exit scams and rugpulls of shitcoins, as new money stops flowing in and the dumb money is mostly tapped out
Grayscale BTC Trust trading well below NAV indicates institutions and big money investors are bearish
Cascading effects of margin calls, weak hands rushing for exits, early buyers taking profit
Chinese government showing signs of souring on crypto mining and purchasing, probably to help clear the way for their own CBDC
Binance under investigation by US DoJ and IRS
Colonial Pipeline ransomware attack giving bad publicity and a potential excuse for US regulators to step in
Anticipation of NY AG report on Tether
Basically it's just been a really, really bad couple of weeks for crypto. Will the price recover in the short term as the news cycle slows down? Maybe, even likely, but maybe not. It's impossible to tell given crypto's speculative nature and the crypto market is a lot smaller and less resilient than crypto fans like to pretend it is.


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## BSV (May 21, 2021)

Spasticus Autisticus said:


> Colonial Pipeline ransomware attack giving bad publicity and a potential excuse for US regulators to step in


I know weird things start happening when you start challenging the hegemony of the dollar. Especially when your proposition for an alternative seams to make more sense. Was there any more information on this other then, "Russian  hackers" and "some crypto currency" ?  Could it have been a false flag, where this was done to protect the petrodollar? Like with Saddam with wanting to trade Oil in euros, and Ghadaffis Gold dinar. Or is this too far in alex jones land to make any sense?


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## Spasticus Autisticus (May 21, 2021)

BSV said:


> I know weird things start happening when you start challenging the hegemony of the dollar. Especially when your proposition for an alternative seams to make more sense. Was there any more information on this other then, "Russian  hackers" and "some crypto currency" ?  Could it have been a false flag, where this was done to protect the petrodollar? Like with Saddam with wanting to trade Oil in euros, and Ghadaffis Gold dinar. Or is this too far in alex jones land to make any sense?


The simplest explanation is usually the right one. And the simplest explanation is that they got pwned because some dumbass employee opened an email attachment they shouldn't have, and their own shit-tier IT security practices allowed a single employee's infected endpoint to take down their whole network. That's how practically every other ransomware attack has gone down. Most companies and government organizations have shockingly bad IT security, even ones who ought to know better.


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## BSV (May 21, 2021)

Spasticus Autisticus said:


> The simplest explanation is usually the right one. And the simplest explanation is that they got pwned because some dumbass employee opened an email attachment they shouldn't have, and their own shit-tier IT security practices allowed a single employee's infected endpoint to take down their whole network. That's how practically every other ransomware attack has gone down. Most companies and government organizations have shockingly bad IT security, even ones who ought to know better.


Yes, and even if such a pipeline is critical infrastructure and very important. And that several people have warned about the  risk of cyber attacks against critical infrastructure. Incompetence is something Americans really is good at. Or that is what they want us to belive with their 9/11's and fake moon landings- Right?


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## Michael Jacks0n (May 21, 2021)

Spasticus Autisticus said:


> The simplest explanation is usually the right one. And the simplest explanation is that they got pwned because some dumbass employee opened an email attachment they shouldn't have, and their own shit-tier IT security practices allowed a single employee's infected endpoint to take down their whole network. That's how practically every other ransomware attack has gone down. Most companies and government organizations have shockingly bad IT security, even ones who ought to know better.


Power leveling here, but I do contract IT work for a large corporation: despite our massive technical network, I get plenty of e-mails on a weekly basis which have obvious phishing links like telling me I need to change the password for my LinkedIn account [which isn't actually linked to my office e-mail], and the LinkedIn logo in the message is a low-res JPG and the word "LinkedIn" is spelled incorrectly in the e-mail. Like, the sender is linked1n-123@yahoo.com or something and the body text has spelling errors and weird characters. Usually these messages go straight to the spam folder, but not always. I'm obviously not dumb enough to click the link, but I have a fair amount of Boomer coworkers who can barely open Skype, let alone distinguish a real e-mail from a fake. That being said, that's probably what happened with Colonial Pipeline.


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## BSV (May 21, 2021)

In any case it looks like the Hollocauster is over, at least in the short term. I can now continue my dreams  of wealth illicit drugs and people having sex with me against their will.


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## Tookie (May 21, 2021)

BSV said:


> In any case it looks like the Hollocauster is over, at least in the short term. I can now continue my dreams  of wealth illicit drugs and people having sex with me against their will. View attachment 2191152


Next support level is probably $30K so don't be shocked by a couple more ~10% contractions coming.


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## mindlessobserver (May 21, 2021)

Bitcoin does not have a good future I think. Too much competition and has been shown now, too much exposure to china.


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## Uncle June (May 21, 2021)

MrTroll said:


> I've heard mixed things about this. Supposedly it's common practice to undervolt and downclock mining cards for some efficiency-related reason I don't fully understand, so they're not exactly being beaten to death. Also, most cards that fail do so early in their life as a result of some manufacturing flaw in the chip fabrication process, so crypto mining is a sort of stress test in a way.



I dont understand that either. Given there's an inverter in the card, lowering the voltage would only increase the current, which is what determines the electrical cost of operation. Then again there are autists far more powerful than myself who know far more than me in this realm.


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## HOMO FOR LIFE (May 21, 2021)

mindlessobserver said:


> Bitcoin does not have a good future I think. Too much competition and has been shown now, too much exposure to china.


Oh yeah. Bitcoin longs are gonna get fucked.  Ethereum is nice.


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## 💗Freddie Freaker💗 (May 21, 2021)

Spasticus Autisticus said:


> I think the following factors are all playing into the downward movement of crypto that started last week:
> 
> Tesla announces it would stop taking BTC payments, citing environmental concerns. Rumors abound that they have sold or are selling off BTC
> Tether reveals their backing, showing they are majority backed by commercial paper and loans, not in cash as they used to claim
> ...


You forgot one thing: one of the biggest DApps on Binance (Pancake Bunny) was hacked and millions of dollars were stolen from it. Yeah, the past few weeks have not been kind to the crypto world.


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## Richard Harrow (May 22, 2021)

I may be late, but this also happened.  It may or may not be relevant to the dips we've been seeing.


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## 💗Freddie Freaker💗 (May 22, 2021)

Bogged tools (another big DApp on Binance) was just hacked.

Everything shitting the bed at the same time seems coordinated.


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## Michael Jacks0n (May 22, 2021)

💗Bitchstopher Columbitch💗 said:


> Bogged tools (another big DApp on Binance) was just hacked.
> 
> Everything shitting the bed at the same time seems coordinated.


I'm out of the loop, but was the usage of a meme about crypto crashing [Bogged] intentional or just a crazy coincidence for BogTools? Because if it wasn't intentional, with a name like that you're just setting yourself up for failure -- like naming your band Garbage.


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## Coolio55 (May 22, 2021)

Richard Harrow said:


> I may be late, but this also happened.  It may or may not be relevant to the dips we've been seeing.


Remember what happened last time lol:








						Decapitated, dismembered body of man, 33, is found in luxury NYC block
					

The victim has been identified as Fahim Saleh, a millionaire tech entrepreneur who moved into his $2 million Lower East Side apartment late last year.



					www.dailymail.co.uk


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## knobslobbin (May 22, 2021)

Oh goodness me! Bitcoin is slightly under $40,000 a coin today, however shall I continue to afford Lamborghini polish at these abysmal rates?


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## Tom Myers (May 22, 2021)

I only put 3k into bitcoin, but I've now down to $1600. Quarter of my retirement savings for the year so far down the drain.


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## Vecr (May 22, 2021)

Don't sell, I don't see a point. I'm still up on Bitcoin though, and I do have a point I would sell at, but it's in the single digit thousands and I'd check for a flash crash first.


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## 💗Freddie Freaker💗 (May 22, 2021)

https://www.rekt.news/bearn-rekt/got rekt.


Michael Jacks0n said:


> I'm out of the loop, but was the usage of a meme about crypto crashing [Bogged] intentional or just a crazy coincidence for BogTools? Because if it wasn't intentional, with a name like that you're just setting yourself up for failure -- like naming your band Garbage.


It was intentional, I think. Like the band Garbage, they were quite successful for a while.


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## Michael Jacks0n (May 22, 2021)

Tom Myers said:


> I only put 3k into bitcoin, but I've now down to $1600. Quarter of my retirement savings for the year so far down the drain.


Never invest money you can't afford to lose.


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## Tom Myers (May 22, 2021)

Michael Jacks0n said:


> Never invest money you can't afford to lose.


It's 3k so I make more than that in a week.


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## Thomas Highway (May 22, 2021)

Tom Myers said:


> I only put 3k into bitcoin, but I've now down to $1600. Quarter of my retirement savings for the year so far down the drain.


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## Knight of the Rope (May 22, 2021)

BSV said:


> Does anyone have an idea?


Some insider posted this to /biz/. Now I know what you're thinking: "A /biz/ cuck? This is some next level shit from you @Knight of the Rope, are you _trying_ to get banned from this subforum with your faggotry?" But let's hear him out.











						/biz/ - Hey guys, insider here. For those of you that are - Business …
					

archived 20 May 2021 06:10:31 UTC




					archive.ph
				




(Yes, there are people who unironically believe this dip is a calculated sell-off to fuck Elon Musk out of the cryptospace.)


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## Alex Krycek (May 22, 2021)

I sold pretty much all my Crypto at just the right time and have a couple hundred left in Doge just to see what it does. So far my profits have been about 600, of Doge doesn’t turn up I’ll just cut my losses by next week. It did however make me more than say SafeMoon.


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## TerminalTryHard (May 22, 2021)

Alex Krycek said:


> I sold pretty much all my Crypto at just the right time and have a couple hundred left in Doge just to see what it does. So far my profits have been about 600, of Doge doesn’t turn up I’ll just cut my losses by next week. It did however make me more than say SafeMoon.


What's the deal with SafeMoon? half the people I hear talk about it call it a scam and the other half call it the next Doge.


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## HOMO FOR LIFE (May 22, 2021)

Tom Myers said:


> I only put 3k into bitcoin, but I've now down to $1600. Quarter of my retirement savings for the year so far down the drain.


Lawlz.


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## Tom Myers (May 22, 2021)

I love how absolutely poor these niggas are


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## Kosher Dill (May 22, 2021)

TerminalTryHard said:


> half the people I hear talk about it call it a scam and the other half call it the next Doge.


Potato, potahto.


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## Alex Krycek (May 23, 2021)

TerminalTryHard said:


> What's the deal with SafeMoon? half the people I hear talk about it call it a scam and the other half call it the next Doge.


I don’t know really. I was gifted some and it does all kinds of shit.


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## Tookie (May 23, 2021)

TerminalTryHard said:


> half the people I hear talk about it call it a scam and the other half call it the next Doge.


Yes.


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## HOMO FOR LIFE (May 23, 2021)

This bear run is absolute beast lol it just won't end.


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## Fanatical Pragmatist (May 23, 2021)

BUYING THE DIP!!!


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## Quindoll (May 23, 2021)

As I like to mention Nassim Taleb:

Bitcoin was about ELECTRONIC CASH & transfers that bypass 3rd parties, not about an investment, a store of value, or a religious cult


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## Just Some Other Guy (May 23, 2021)

Quindoll said:


> As I like to mention Nassim Taleb:
> 
> Bitcoin was about ELECTRONIC CASH & transfers that bypass 3rd parties, not about an investment, a store of value, or a religious cult
> 
> View attachment 2194889


Hence why I laugh at crypto. For all the shit talking people do about fiat currency, the only value they seem to assign to 'glorious' crypto is how much fiat it's worth.


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## Ms. Cegination (May 23, 2021)

Just Some Other Guy said:


> Hence why I laugh at crypto. For all the shit talking people do about fiat currency, the only value they seem to assign to 'glorious' crypto is how much fiat it's worth.


I know! It's really weird how people denominate the value of a niche commodity by it's worth compared to the most ubiquitous and widespread form of currency.


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## Just Some Other Guy (May 23, 2021)

Ms. Cegination said:


> I know! It's really weird how people denominate the value of a niche commodity by it's worth compared to the most ubiquitous and widespread form of currency.


Lol never said it was weird. It's very expected. Doesn't change the fact that even the crypto cultists now are sellouts. So much for that uh, "decentralized bank free currency". 

"Hey guiz! What's the best way to cash out to my paypal/bank account?" I'm not dismissing it's value in USD, I'm just laughing at the mockery crypto has become.


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## tehpope (May 23, 2021)

My personal coinbase account went under $2k for the first time in a while. I think last week it was at $4k or high $3k.




_It all returns to nothing...._

Not that I'm mad or sad. But this feels approiate.


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## shameful existence (May 23, 2021)

tehpope said:


> coinbase account went under $2k


Still too much money to trust them with.


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## Gimmick Account (May 23, 2021)

The thing about laughing at crypto is people have been doing that for like 13 years and looking like fags the whole time. BTC could drop to $200 again and you'd still be objectively 70% faggot.



mindlessobserver said:


> Bitcoin does not have a good future I think. Too much competition and has been shown now, too much exposure to china.


I think bitcoin will always be fine just because it was first. Even if you can't do shit with it, it'll still be a treasured antique. I'll buy back up to a whole one eventually just to put it on a shelf in memory of all the weed I've bought that'd be worth millions of dollars now.
People will probably build derivatives on top of it too, idk.

Anyway, I'm happy if shitcoin ranks get thinned out.


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## Thomas Highway (May 24, 2021)

Gimmick Account said:


> I think bitcoin will always be fine just because it was first. Even if you can't do shit with it, it'll still be a treasured antique



So basically it is not a revolutionary currency, but some fake shit like buying Charlie Bit My Finger.


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## Tleilaxian (May 24, 2021)

Thomas Highway said:


> like buying Charlie Bit My Finger.


No, no, buying Charlie Bit My Finger would be an NFT, not a bitcoin.


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## Mnutu (May 24, 2021)

Glorious


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## Gimmick Account (May 24, 2021)

Thomas Highway said:


> So basically it is not a revolutionary currency, but some fake shit like buying Charlie Bit My Finger.


but currency is fake! At least he suffered from Charlie's bite, which I think in crypto is called proof-of-work


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## knobslobbin (May 24, 2021)

The fungible store of value currency that will take over the future is fart gifs. WWIII will be over how to pronounce it correctly. The hard G side wins, obvi


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## Thomas Highway (May 24, 2021)

knobslobbin said:


> The fungible store of value currency that will take over the future is fart gifs. WWIII will be over how to pronounce it correctly. The hard G side wins, obvi



You  really believe in these dumb fake internet coins don't you?


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## knobslobbin (May 24, 2021)

Thomas Highway said:


> You  really believe in these dumb fake internet coins don't you?


You're welcome, in the future this will be worth 3 lambos


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## Cool Dog (May 25, 2021)

Wasnt even a real correction let alone a fall as big as the one after 2017, btc already back to near 40k

Whats the scenario with NFTs?


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## shameful existence (May 25, 2021)

Cool Dog said:


> Wasnt even a real correction let alone a fall as big as the one after 2017, btc already back to near 40k


Someone checked the candles and it looks like it was the worst two week drop ever, from open to close. For bitcoin.


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## wtfNeedSignUp (May 25, 2021)

Gimmick Account said:


> I think bitcoin will always be fine just because it was first. Even if you can't do shit with it, it'll still be a treasured antique.


"I think the dollar will always be fine just because it is the currency the entire world uses. Even if the government keeps printing it, it'll still be the best mean of establishing value".


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## Deadwaste (May 25, 2021)

haha my birthday wish of having crypto crash has come through

now i can get onto my second wish of being able to afford a 3000 series gpu because some miner went all in on this and needs to make their money back on the investment


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## An Avenging Bird (May 25, 2021)

BSV said:


> Hi guys, I bought the dip today, and then I bought the dip again. But it just keeps going down. I am not worried for the long term because I am accumulating coins and Hodling.  But I really wonder how low it can go. Is this fall simply china banning Bitcoin again? How I understand it they have always viewed bitcoin as a commodity anyways. And I don't think that have changed. And it's not like something happened to the fiat currencies that makes them less deflationary. Bitcoin isn't going anywhere, so why the big uncertainty now. Does anyone have an idea?


Institutions attempting to rattle off the tourist gamblers who plunked down $1,000 betting it would magically turn a 100x overnight and over-leveraged traders getting consequently liquidated.

Currently, we may be in a bull trap situation so don't go whole in buying up the dip as it _may_ dip even further coming up.


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## ForTheHoard (May 25, 2021)

An Avenging Bird said:


> Institutions attempting to rattle off the tourist gamblers who plunked down $1,000 betting it would magically turn a 100x overnight and over-leveraged traders getting consequently liquidated.
> 
> Currently, we may be in a bull trap situation so don't go whole in buying up the dip as it _may_ dip even further coming up.


Most of the people I'm getting advice from are saying there's potentially another 6 months left in the bull market but this is one hell of a correction if that's the case.  Buying the dip either way.  It gives me a change to get into some staking coins that I couldn't really afford before.


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## An Avenging Bird (May 25, 2021)

ForTheHoard said:


> Most of the people I'm getting advice from are saying there's potentially another 6 months left in the bull market but this is one hell of a correction if that's the case.  Buying the dip either way.  It gives me a change to get into some staking coins that I couldn't really afford before.


The weekly MACD indicators I'm looking at show this is not going to flip back to bullish instantly. Especially when it comes to Bitcoin.


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## Cool Dog (May 26, 2021)

shameful existence said:


> Someone checked the candles and it looks like it was the worst two week drop ever, from open to close. For bitcoin.


Worst than the crash when it went from 20k to like 3.5k? that was a what, 70-75% drop? here it was a 20-30% drop, and there seems to be a resistance


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## shameful existence (May 27, 2021)

Cool Dog said:


> Worst than the crash when it went from 20k to like 3.5k? that was a what, 70-75% drop? here it was a 20-30% drop, and there seems to be a resistance


Different distribution of the drop. There was like a forty-something 2w candlestick (not counting wicks), Benjamin Cowen pointed this out. It doesn't really matter, just a little something to print on those I survived T-shirts.


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## Carlos Weston Chantor (May 27, 2021)

- worldwide talk of increased crypto regulations, bans and taxes as over 70% of central banks in the world openly discuss launching their CBDCs in the near future
- old propaganda about bitcoin's energy consumption regurgitated again, this time looks like they actually gonna go with it to target crypto mining
- autistic spergs like elon musk can manipulate the market by tweeting or being on a tv show
- dogecoin in the top 5 cryptos, with a market cap like 50% of general electric
- dumb money goes to dumb things like defi, nfts, meme coins like always
- institutions and OGs accumulated tons of bitcoin under $10,000, absolutely zero incentive to buy BTC with nowadays prices
- tether market cap >$60Billion, some chink company can just decide to print $1 Billion any day, totally not like fiat lmao
- crypto privacy war mostly lost, number goes up fetish is all that matters, 99% of crypto is a ghetto behind KYC/AML walls, choking points like Coinbase and Binance rule the ecosystem (they suck the government's ass and actively work against their users because they know they could get rekt by zog any second)
- meanwhile, alternative assets such as gold, silver etc. are performing great

_*"Market is looking bad, but I really don't see the reason"   *_


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## ForTheHoard (May 27, 2021)

Carlos Weston Chantor said:


> - worldwide talk of increased crypto regulations, bans and taxes as over 70% of central banks in the world openly discuss launching their CBDCs in the near future
> - old propaganda about bitcoin's energy consumption regurgitated again, this time looks like they actually gonna go with it to target crypto mining
> - autistic spergs like elon musk can manipulate the market by tweeting or being on a tv show
> - dogecoin in the top 5 cryptos, with a market cap like 50% of general electric
> ...


I don't agree with all your points.  Institutions are putting tons of money into BTC at the current prices, but the lowered BTC dominance numbers suggests a lot of market activity is centered around alt coins.  The privacy war is no where close to being lost, and when MimbleWimble drops, it's probably going to be the biggest blow to crypto regulation maybe ever.  It will have litecoin support which means that if it's popular, bitcoin will adopt it and it's harder for exchanges and institutions to abandon because it's already been heavily adopted.  I would also figure that financial institutions will have a use for privacy options, as it's hard to fund politicians and coups with public transactions.  Precious metals are doing alright, but they're still underperforming predictions.  Most of the blame is going towards crypto because they assume every dollar spent on BTC would have otherwise been spent on precious metals.  Financial geniuses have been saying crypto was dead in the water long before BTC hit $1 and they keep having to eat their words.  At least now they're smart enough to buy the dip when they scare normies off the market.

Diversify and HODL.


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## Cool Dog (May 29, 2021)

shameful existence said:


> Different distribution of the drop. There was like a forty-something 2w candlestick (not counting wicks), Benjamin Cowen pointed this out. It doesn't really matter, just a little something to print on those I survived T-shirts.


So you're saying this isnt the bottom?


Carlos Weston Chantor said:


> - worldwide talk of increased crypto regulations, bans and taxes as over 70% of central banks in the world openly discuss launching their CBDCs in the near future


Reminds me of when we oldfags all thought the internet could never be regulated and it would be the wild west of the late 90's forever

Lo and behold most of the internet (by "weight") its fully corporate now, for most people the web is fb, yt, ig, wapp, tiktok and whatever other apps. Search is broken again but this time for commercial purposes. Most censorship is done by corporations themselves and nobody cares, they keep using this shit

Its practically impossible to not be tracked unless you're willing to go through very cumbersome if not insane measures like using an obsolete chinkpad with libreboot, tails and a cantenna to connect to whatever open wifi you can find............while somebody is driving you around in a windowless van else you're getting fucked in the ass like pirate roberts

When central banks start issuing their own crypto most normalfags are gonna use that even if non-state crypto is better, for the same reason they keep using propietary software and networks: convenience


Carlos Weston Chantor said:


> - autistic spergs like elon musk can manipulate the market by tweeting or being on a tv show
> - dogecoin in the top 5 cryptos, with a market cap like 50% of general electric


We're hitting peak tulip mania, normalfags never change


Carlos Weston Chantor said:


> - dumb money goes to dumb things like defi, nfts, meme coins like always


Is there anyone who didnt get fucked over with defi? I literally dont know anyone who doesnt have a horror story with those, either because of fraud, shoddy code leading to a hack or plain fraud


Carlos Weston Chantor said:


> - tether market cap >$60Billion, some chink company can just decide to print $1 Billion any day, totally not like fiat lmao


Fucking finex, I dont know how they manage to keep failing upwards


ForTheHoard said:


> bitcoin will adopt it and it's harder for exchanges and institutions to abandon because it's already been heavily adopted.


That has been around since like 2018, is there any actual indication from btc devs that they plan to implement it? any announcements?


ForTheHoard said:


> I would also figure that financial institutions will have a use for privacy options, as it's hard to fund politicians and coups with public transactions.


They can already do that with plain ol' bag full of unmarked bills on a private airplane, why bother? specially since most politicians dont know shit about crypto and like more normalfags are going to ask for cash to do any favors, not memecoins


ForTheHoard said:


> Diversify and HODL.


Whats your current coin collection? whats your performance?


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## No. 7 cat (May 29, 2021)

Why don't people just go with gold? It goes up steadily with little dips. And if you want to live dangerously, silver, and obviously make sure you get the stuff not paper representing it. Yet while crypto seems like something filled with bad actors, it's a way for those like Dear Leader who find themselves unpersoned to pay and receive monies. I honestly think some of the baddest of bad actors are trying to weaken the market, discredit it for that reason.


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## shameful existence (May 29, 2021)

Harlay de Champvallon said:


> Why don't people just go with gold?


Didn't you know? Fixed supply coins are the _only fixed assets in the galaxy_. 



He's going there next year. He'll be tweeting. Buckle up.


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## No. 7 cat (May 29, 2021)

shameful existence said:


> Didn't you know? Fixed supply coins are the _only fixed assets in the galaxy_.
> View attachment 2214212
> He's going there next year. He'll be tweeting. Buckle up.


In a few years time a soda will be 20,000 Kamala.Dollars. Everyone will certainly be a billionaire, like they were in Zimbabwe. Maybe. Anyhow, even with a golden rock, would extracting and returning the ore be particularly economic? It might be more psychological in lowering the price.


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## ForTheHoard (May 29, 2021)

Harlay de Champvallon said:


> Why don't people just go with gold? It goes up steadily with little dips. And if you want to live dangerously, silver, and obviously make sure you get the stuff not paper representing it. Yet while crypto seems like something filled with bad actors, it's a way for those like Dear Leader who find themselves unpersoned to pay and receive monies. I honestly think some of the baddest of bad actors are trying to weaken the market, discredit it for that reason.


Gold/silver is about 40% of my portfolio.  It's just not interesting enough to talk about.


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## Gimmick Account (May 30, 2021)

Harlay de Champvallon said:


> Anyhow, even with a golden rock, would extracting and returning the ore be particularly economic? It might be more psychological in lowering the price.


I think the plan is just to put some thrusters on it and drop it on England. The outer layers will blow off but it's still a net gain, and then you can just walk over and pick it up. Thanks elon


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## shameful existence (May 30, 2021)

Harlay de Champvallon said:


> Anyhow, even with a golden rock, would extracting and returning the ore be particularly economic? It might be more psychological in lowering the price.


Oh it's not about a profitable mining. I was talking about the tweets that will come and affect how people feel about gold. It was also a half joke. I like both my golden and internet coins.


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## knobslobbin (May 30, 2021)

I say we take that floating gold rock and accelerate it to a few percentage C and crash it directly into jewYork. That's the only way it could instantly make everyone else on the planet better off.

Joking aside, bitcoin is up this morning. Is the bear asleep finally?


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## Justtocheck (May 30, 2021)

I invested $0 of my own money in crypto or WSB and I lost a grand total of $0. In my humble estimation I'm doing great.


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## Vapid_Idiot (May 30, 2021)

Justtocheck said:


> I invested $0 of my own money in crypto or WSB and I lost a grand total of $0. In my humble estimation I'm doing great.


Nah bro your just crabbing


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## Justtocheck (May 30, 2021)

Vapid_Idiot said:


> Nah bro your just crabbing


Dude, there's so much terminology I don't get about crypto, this shit is like a third language. This thread makes me feel like I'm reading some old norse scrolls sometimes.


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## Vapid_Idiot (May 30, 2021)

Justtocheck said:


> Dude, there's so much terminology I don't get about crypto, this shit is like a third language. This thread makes me feel like I'm reading some old norse scrolls sometimes.


Bull Market- Money go up
Bear Market- Money go down
Crab Market- money go slightly up and slightly down continuously so it goes sideways
FUD- Fear, Uncertainty, Doubt, term for any negative news/opinion towards a investment
Capitulating- Shaking out fearful investors
Gains- Profit
Bleeding- Profit loss
Long- Holding on to a assets for bigger gains of appreciation
Short- Borrowing crypto/stocks at a higher price, to sell at a lower price and returning stock and keeping profit


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## shameful existence (May 30, 2021)

China bans crypto - a Tuesday
stocks - lol
bitcoin - crypto for boomers
Fibonacci - I do technical analysis as an internet job
projects - can't describe, but


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## Suburban Bastard (May 30, 2021)

Remember everyone 

If it goes up, it’s organic

If it goes down, it’s all controlling Illuminati.


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## ForTheHoard (May 30, 2021)

Vapid_Idiot said:


> Bull Market- Money go up
> Bear Market- Money go down
> Crab Market- money go slightly up and slightly down continuously so it goes sideways
> FUD- Fear, Uncertainty, Doubt, term for any negative news/opinion towards a investment
> ...


There's to many to cover here but it's mostly stock market lingo mixed with memes.

HODL - Hold but spelled wrong, sometimes used by financial institutions as "hold on for dear life."
Diversify - Spreading your money out over a number of assets to mitigate losses if some of them fail.
FOMO - Fear of missing out.
Lambo money - Big profits.
51% attack - A single entity that accounts for more than half of mining operations on a network, giving them the power to manipulate transactions.
$5 wrench attack - Strong armed robbery as a means to acquire access to one's crypto accounts.
Altcoin - Anything besides bitcoin.
Privacy coin - Untraceable crypto.
Shit coin - Any cryptocurrency that's likely a scam or is a bad long term hold (hyperinflationary). 
Stable coin - A crypto backed by a real world asset, fiat or not, and is locked into a 1:1 valuation with the asset. (Gold, USD, Euro, etc.)
Defi - Decentralized finance.
Dex - Decentralized exchange.
Dapps - Decentralized applications.
Cold storage - A crypto wallet that doesn't interact with the internet.
Pump - When an event occurs that causes significant short term increases in price.
Dump - Sell.
Gas - The cost and resource for transfers, usually referring to the Ethereum network.
Proof of work - Using a computer to guess the answer to a math problem.  The faster your hardware, the more guesses you can make.  Success creates new crypto used as a reward.
Proof of stake - Rewards are created and distributed based on a user delegating crypto resources to the network for a period of time.  Slightly similar to a savings/retirement account.
Mining pool - The organization of multiple miners to combine their computing power to make guesses.  Rewards are distributed to miners based on their contribution.
Staking pool - The organization of multiple investors to combine their crypto wealth into one account and share the % based rewards based on their contribution.

There's a lot more but you pick them up as you go.


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## Justtocheck (May 31, 2021)

ForTheHoard said:


> There's to many to cover here but it's mostly stock market lingo mixed with memes.
> 
> HODL - Hold but spelled wrong, sometimes used by financial institutions as "hold on for dear life."
> Diversify - Spreading your money out over a number of assets to mitigate losses if some of them fail.
> ...


Thanks. The confusion really starts when words start getting together and every one has a hidden meaning, like in your image. 

"The China tether has allowed the bulls to capitalize and shitholders to dump their shitcoins, and althougth the alts are up, the normiefags are still crabbing in hope to make fast margins on BIT.."

A non-sensical phrase but damn, it's true that crypto jargon makes it feel insular and weird.


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