$ (BTC) The Bitcoin Thread - NO SHITCOINERS ALLOWED

[melty]

why the fuck would crypto go down during a pandemic? it's the dollar that's about to shart all over the world

If it makes you feel better, bonds and treasuries and other things that aren't "supposed" to go down are going down. Even gold going down

 

[Null]

If it makes you feel better, bonds and treasuries and other things that aren't "supposed" to go down are going down. Even gold going down

what the fuck are niggas going to use with no cash, no stocks, no bonds, no treasuries, no gold, and no crypto? toilet paper???

 

[Disheveled Human]

If it makes you feel better, bonds and treasuries and other things that aren't "supposed" to go down are going down. Even gold going down

Governments and world powers be siphoning that shit so they have some funds to throw at this expensive problem.

 

[Magog]

what the fuck are niggas going to use with no cash, no stocks, no bonds, no treasuries, no gold, and no crypto? toilet paper???

You seem pretty upset about your mistake of sticking all your wealth into pretend dollaridoos.

 

[Null]

You seem pretty upset about your mistake of sticking all your wealth into pretend dollaridoos.

Bitcoin remains the only reason the site has continued forward and I rely on its systems to survive. So no. I regret absolutely nothing. I just thought they'd appreciate more at this time. If you don't like it you can fuck off, I have zero empathy for people who want to undermine this site's survival mechanisms.

 

[Particle Bored]

why the fuck would crypto go down during a pandemic? it's the dollar that's about to shart all over the world

A buddy of mine suggested it could be people selling to buy supplies or blood-drenched stocks.

For now I'll smile through gritted teeth and calm myself with this time-tested mantra: "Buy the dip."

(side note, was watching the Hard Bastard stream earlier today and YouTube was autocensoring/deleting "buy the dip" in livechat)

 

[AnOminous]

why the fuck would crypto go down during a pandemic? it's the dollar that's about to shart all over the world

Markets are irrational.

what the fuck are niggas going to use with no cash, no stocks, no bonds, no treasuries, no gold, and no crypto? toilet paper???

Literally toilet paper. And things like it. And bullets so you can hold on to your valuable commodities.

 

[mr.moon1488]

Markets are irrational.



Literally toilet paper. And things like it. And bullets so you can hold on to your valuable commodities.

Canned goods tend to be equivalent to gold in serious emergencies.

 

[dopy]

looks like a roller coaster lol

 

[AnOminous]

looks like a roller coaster lol

View attachment 1185151

I love graphs like this.

 

[Fish-Eyed Fool]

looks like a roller coaster lol

Should have invested in Cottonelle.

 

[Trig.Point]

why the fuck would crypto go down during a pandemic? it's the dollar that's about to shart all over the world

The general public feeling in the west, is that the banks are safe. That no matter what happens governments will bale them out and protect depositors and investors.

If there's an inkling that could change, either from a change in specific governments policies or because they just no longer have the means to, Crypto might see a resurgence.

 

[AnOminous]

bale them out

Unless you speak English as a second language you have no excuse for this bullshit.

 

[Trig.Point]

Unless you speak English as a second language you have no excuse for this bullshit.

If I was to claim that it's the UK spelling... would that work?

 

[AnOminous]

If I was to claim that it's the UK spelling... would that work?

No, because you didn't use subjunctive mood correctly. You should have said "were."

 

[Honka Honka Burning Love]

what the fuck are niggas going to use with no cash, no stocks, no bonds, no treasuries, no gold, and no crypto? toilet paper???

I imagine people are selling off everything fearing complete economic collapse and think their bank is magically not going to catch fire if things go badly.

 

[Trig.Point]

I imagine people are selling off everything fearing complete economic collapse and think their bank is magically not going to catch fire if things go badly.

I think this clip illustrates the mood on the trading floor.

 

[Honka Honka Burning Love]

I think this clip illustrates the mood on the trading floor.

I love that movie so much.

 

[Kaiser Wilhelm's Ghost]

If it makes you feel better, bonds and treasuries and other things that aren't "supposed" to go down are going down. Even gold going down

Everything took a shit kicking, even fucking orange juice commodities took a noticeable hit. Everyone was trying to liquidate everything in order to free up cash.

@Null I don't follow the crypto market too closely, but I feel for you man. It's been all over the shop. Best guess the reason bitcoin has fluctuated so much was the fact that during the big buy in when it got to 8k a lot of outside investors got into the game and have been using it as an asset bank. The stock market tanks, they're all scrambling for liquidity. Whether that's to buy in to the stock market while it's down, or people trying to build up a reserve of cash in case of recession cause from the dip, or just irrational reactions to uncertainty.

 

[AnOminous]

Everything took a shit kicking, even fucking orange juice commodities took a noticeable hit. Everyone was trying to liquidate everything in order to free up cash.

@Null I don't follow the crypto market too closely, but I feel for you man. It's been all over the shop. Best guess the reason bitcoin has fluctuated so much was the fact that during the big buy in when it got to 8k a lot of outside investors got into the game and have been using it as an asset bank. The stock market tanks, they're all scrambling for liquidity. Whether that's to buy in to the stock market while it's down, or people trying to build up a reserve of cash in case of recession cause from the dip, or just irrational reactions to uncertainty.

BTC almost always takes a dive after other commodities do. It's completely irrational. Maybe someone who tracks the correlation here more closely has an opinion on it, but it does seem to react more rationally in the middle and long terms even with short-term peaks and valleys of absurd volatility.

Also to the extent something like coronavirus even has an effect on crypto I think it would be more pronounced for BTC, specifically, because most of the big farms are in China. In theory there should be no effect at all as these are very sparsely manned.