Like an index? Hmm I donāt think so. Closest would be to look at opensea or looksrare daily volume
Someone should invent the S&P500 but for NFTs.
Bitcoin at $60 000 = Have fun staying poor.
Bitcoin at $30 000 = Have compassion.
https://twitter.com/EncryptedPedro/status/1524531474237640706
This dude really had it coming. Probably will still run away a hundred millionaire.
Prizes for graphic cards should go down now, too, right?
FYP
FYP
I canāt imagine the SEC seeing people lose 99% of the their asset values in certain āstableā coins within 72 hours and not doing something about it eventually.
Thereās going to be a reckoning of regulation.
I guess i was live blogging it on the discord not here but Yellenās testimony today was pretty instructive. She sees both a need for regulation and that crypto is a legitimate financial asset that is here to stay. She also mentioned that fedcoin is coming. Crypto isnāt going to be dead but just like the last 3-4 crashes lots of the trash will be completely destroyed never to be seen from again.
BTC/ETH will survive and likely be much higher than here in the future but anything else is just pure speculative gambling imo.
Botez going for the saveā¦ āThereās entertainment? Oh thatās so evil! Uhh, at least you get to learn from it, right?ā
I think you overestimate how well consumer protections work in the crypto space. Just yesterday we were talking about how Coinbase is up to shenanigans your brokerage account wouldnāt be able to get away with.
āCrypto is awesome because governments canāt control it. Also we need sensible regulation, obviously.ā
Every single argument for this crap is complete bullshit.
Hereās some actual bullshit that I just paid 80k for.
https://opensea.io/assets/0x12f28e2106ce8fd8464885b80ea865e98b465149/100030032/
I sold all my personal crypto when Tether hit 97 cents. Itās possible I picked close to the bottom but I donāt regret it. Tether has always looked dicey to me and having it start to creak around the edges in the wake of Terra getting smoked did not feel good.
I also donāt think we are likely to see any price gains in the forseeable future. Crypto is not any kind of hedge against anything, itās a risk-on asset and those are all currently getting rekt now that the era of cheap credit from the Fed is likely over.
Maybe every generation gets to witness a real-life demo of a Libertarian thought experiment. First it was sea-steading, now itās a totally unregulated currency system.
To me crypto seems super correlated with stocks - but with tons more volatility. I think big risk is stocks drop another 10-20% and crypto goes close to zero.
I think if stocks hold and rebound, crypto is likely to bounce more.
Yeah this is my big long-term concern. I think the practical application of Bitcoin is digital gold, but then it would be a hedge. Itās clearly not functioning as such, and the key to make it function as such is for people to believe it is such. They donāt, so it isnāt.
Crypto is for doing crimes and lots of crimes are good, so crypto is good. Thatās just logic.