Storm warning. Massive conversion of USD to Crypto

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It's definitely a bubble, but like any investment, it's best to hold it long term if you already have it, and buy in when it dips if you don't.
Regardless, crypto definitely has a place in the future, and it'd be wise to get in within the next few years.
 
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I've been thinking about it. There's probably some big business involved, but I think it's largely something else. Our generation is getting to the age that they're getting into investing. However, NOBODY I know my age owns a significant amount of stock. To them, it's all fake and gay. Watching the GME situation spiked interest in stonks, but the outcome of it only further reinforced their belief in the fakeness and gayness (it's all rigged and the house always wins). So now they're looking to the "new frontier" so to speak. I don't make any claim on how that turns out, though I do worry that a 51% attack is increasingly more feasible as retail miners lose their ability to make any money on BTC.

MarvinTheParanoidAndroid said:
Makes perfect sense to me, BTC can't be inflated by a money printer in the hands of a retarded government, it has to be milled by a PC's CPU/GPU.
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That's actually not true anymore. CPUs and GPUs are woefully underpowered for bitcoin. You could run a rack of 3080s for years and probably get $10 out of it. They've now been replaced with what are called ASICs. Those have been hoarded by china and big server farms to their point that they now almost entirely control the blockchain. As long as they don't pull a 51% attack, they can't 'inflate' it directly, but they absolutely can hoard it to manipulate the price.

This is why a lot of the newer coins like monero are specifically designed to be ASIC resistant.
 
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Welp, I've started converting some of my long stocks like Delta into crypto. Deciding to trust my gut on this one. I figure even if this IS a bubble in crypto with Ether and wat not crashing g back down to a thousand the long term trajectory is up. Especially if Ethereum is successful with the software update in June.

I smell a rat in the regular stock market.
 
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mindlessobserver said:
Welp, I've started converting some of my long stocks like Delta into crypto. Deciding to trust my gut on this one. I figure even if this IS a bubble in crypto with Ether and wat not crashing g back down to a thousand the long term trajectory is up. Especially if Ethereum is successful with the software update in June.

I smell a rat in the regular stock market.
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If you're liquidating some stocks or whatever you're holding on to that's fair game but please don't touch your retirement savings (401k, roth, etc.) I know I'm just some faggot on the internet but you really don't want to lose out on that compound growth, especially if you're young.
 
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CharlesFosterOffdensen said:
If you're liquidating some stocks or whatever you're holding on to that's fair game but please don't touch your retirement savings (401k, roth, etc.) I know I'm just some faggot on the internet but you really don't want to lose out on that compound growth, especially if you're young.
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Not a dummy. I only play with my extra cash on the stock market after I have paid the bills and done my retirement contribution. Though if my worst fears are realized that IRA is going to get nuked hard.
 
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So with regards to the hardware accelerated infra, do the ASIC machines need to stay running to prevent a 51% attack, or is just for mining?

I use my parents as a barometer for tech adoption, and they still don't know what crypto is, but their starting to show some interest in it being a real thing
 
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mindlessobserver said:
Welp, I've started converting some of my long stocks like Delta into crypto. Deciding to trust my gut on this one. I figure even if this IS a bubble in crypto with Ether and wat not crashing g back down to a thousand the long term trajectory is up. Especially if Ethereum is successful with the software update in June.

I smell a rat in the regular stock market.
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Me, too. I don't really like doing this as it means my assets are now less diverse (less in shares; more crypto). But I believe that eth is a legitimately good investment on its own, so I don't think it's a terrible idea to convert at least some stocks into crypto during such an uncertain time.

Worst case, losing some money converting to crypto but having the market survive in a healthy state is preferable to having the market take a shit with no contingency plan
 
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Beavis said:
How long until governments make crypto illegal?
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Why would they make it illegal now that they've figured out how to track it and tax it?

The only way I could see governments moving against crypto is if privacy coins that they absolutely can't break start taking off, or if it somehow hurts the banks long-term in a way that they can't co-opt.
 
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Fuck it.

I'll transfer $125 out of my E-Trade to put into crypto. Most of it's from option profits so it's not anything I put into the portfolio.
 
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Crypto's an asset. We're entering (really already in) an asset bubble. Stock market by all appearances is overheating, usually a sign that companies are spending a lot of their cash now on capital / assets that will retain better value better than cash, probably in expectation of inflation or deeper recession.

Of course, how crypto-coins survive an actual asset bubble crash, and not their own speculative markets correcting themselves, is something that will reveal how useful crypto really is as a long-term, non-speculative investment.
 
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Bad Gateway said:
Omggg this time it's totally real! This time! This time! This time! Totally real! Not fake! Totally real! Not artificial! Bintcoin is real!
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There was never going to be a "suddenly crypto was legit" moment. It's been a slow steady adoption, but at this point it would be hard to not call it a legitimate currency. Despite it's instability, an awful lot of places take it now (mostly online services, but still).
 
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Rich Evans Apologist said:
Crypto's an asset. We're entering (really already in) an asset bubble. Stock market by all appearances is overheating, usually a sign that companies are spending a lot of their cash now on capital / assets that will retain better value better than cash, probably in expectation of inflation or deeper recession.

Of course, how crypto-coins survive an actual asset bubble crash, and not their own speculative markets correcting themselves, is something that will reveal how useful crypto really is as a long-term, non-speculative investment.
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My big concern though is the dollars stability in all of this. I agree it's an asset bubble, but your primary hedge to that is to turn your assets into cash and pile them under a mattress. But with trillions of wild Dollars rampaging through the economy atm, I wonder just how safe even that method could be. It's why the current market situation has me so spooked. I expect Crypto will take a beating like everything else if the worst happens, but it will be better positioned to rebound, especially if the money printer breaks and can no longer go BRRRRRT.

And if the worst doesnt happen, well yay to that too. I've already exceeded my transfer costs from stocks so that's something. I am now gonna hide in my Bunker with my Ether body pillow, some blue chips with strong balance sheets and stick my head out in June to see if the world is still here or not.
 
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