How cooked is crypto? Explain why.
Bigly
>>62405056The initial hype has died down. I used to live in an apartment building with a lot of old people and I started getting mailers about services that would help old people invest in cryptocurrency. That's when I knew it was reaching the end bag holders. Crypto is a cool technology but after nearly a decade it's only real use is as a speculative commodity.
100%>OVER
>>62405056bitcoin is too big to ever give massive returns againthe hype for altcoin scams is overweb 3.0 is never happening
The fact that altcoins ever did anything is mind boggling to me.It’s literally fake meme shitBitcoin is the only one I ever even thought about somewhat seriously.Anyone who lost money on Altcoin deserves it an more.
>>62405056Imma be honest with ya m8. Long term, not at all. In fact its the future of the internet. But short term, like < 1 years, its fucked. In fact its even more fucked that you can ever imagine. Why? because this current crypto bear run happened on the SAME YEAR as global stock bear run (that are usually happened every 16-18 years) and precious metals bear run (that happens literally every 50 ish years)We are standing in a year, where every market is doing their own bear run. They will make a sequel of The Big Short movie about this year m8. I am not joking
The biggest problem with crypto is that it's literally nothing backed by nothing and it's only use is speculation and illegal activities
Price goes in cycles so you buy november dip (no shitcoins) and you get easy 2-4x...nothing special or new
The fact that so many people, even "oldfags", think that crypto is over is actually a massive buy-signal but none of the jeets here will ever acknowledge this or even have the capital to buy at the bottom. Remember: always do the opposite of what /biz/ says. What's the consensus in this thread?
>>62405332when fall comes and goes with no pump, when 2027 ends and bitcoin is at zero, will the cycle believers finally join the rest of biz in reality land?
>>62405056>BTCwon the crypto arms race and is now used to circumvent the petrodollar, proven by Iran and their allies>all other cryptocompletely fucking dead, maybe an exception for Monero
>>62405056It's not. It's just motivated reasoning. Ie., what we want to be true. Many people live their whole lives thinking this way, which is sad and ends badly.First, they imagine what they want to be true, then, when it isn't, they imagine what they want to be true about what just happened. It never ends.
>>62405056We've already seen the top of Bitcoin
>>62405343This year is the bottom nothing will pump...You take profits 2028
>>62405056only cooked short term once saylor is flushed out and we're like $20k then we can 10x again
>>62405056I've been here a long long timeI'm not giving any actual advice or insight to this board for the foreseeable future, because this place has devolved into the most rotten crab bucket 3rd world cultured shithole imaginableThere's a whole thread about being an unapologetic nigger petty crime thug for fucks sake. That's where the board culture is
>>62405335What many here haven't experienced yet is that buying while most are demoralized is the best financial decision one can make.
>>62405300>>62405283>>62405250>>62405089>>62405343 >midwits who let their view be shaped by the current thing.My god. Feels good to be superior. I buy low and sell high. See ya losers>>62405335high iq
Shitcoins (where real money always was concentrated) are deadBTC is for Uncs/Rich boomers and it's a boring asset just as stocksAltcoins are also dead and it's worse since normalfags know those are scams.I fell for le altcoins scam and now I have to doordash to survive.IT'S FUCKING OVAH
>>62405056Quiet but still there DTCC, SWIFT, Visa, every major bank is using blockchains in some capacity.They're using a mix of public and private chainsThey using them because there are some inherently beneficial properties of leveraging a blockchain over a database that a single firm owns or a "paper" contract/relying on third partiesIn short, miserable right now but only for the get rich quick dregs. Fundamentally nothing has changedSaylor might capitulate and drag the ecosystem down even further though
ITS SO OVERSELL SELLSELL!!!!!
>>62405300>global stock bear runUhh, the SP500 is only down 3% from the top. If the global stock market enters an actual bear run then Bitcoin is beyond fucked
>>62405491>>62405579It's too easy to check out mentally when conditions are grim like they were for the long stretch around 22-23. That's what I did then, but I promised myself I wouldn't make that mistake the next time. That's why I'm finally lurking again now.
>>62405056>>62405072>>62405089God candle anon here. Shit's fucked. I been out since BTC passed $100K.
>>62405056It'll go into a hyper-bull market on March 10, 2029.
>>62406229t. midwit
I just sold to pay off my credit cards. Couldn’t let it drop below what I owe the Jews. I still have skin in the game, and at least it’s an amount I can afford to lose, but likely not enough to make it if and when we pump. The Jews won.
legitimately probably only BTC and LINK have a real future right now, and it could be years out before they really recover. Maybe CC, ONDO and the other ones building for large scale use cases. Everything else is getting left out of the tradfi equation.
>>6240505699 percent of crypto is cookedBTC, ETH and DOT will survive
>>62405056In the early days cryptos were criminal enterprises but it was worth it for the huge gainsnow cryptos are still criminal enterprises but the gains are gone. so yeah, it appears most of it is done. If you didn't get rich you're probably never going to get another opportunity as big as the great shitcoin rush
>>62405056as to why crypto is done, you have to understand after a million indian scamcoins most people learned not to buy anything other than the top 1 or 2.then for anyone that hadn't been scammed by india we got hawk tua and then the trump family shitcoins to burn the general public. at this point even the dumbest boomer investors know that crypto is a scam. And sure, BTC and ETH aren't technically shitcoins, but the average investor doesn't know the difference
>>62405056Trump and his family, influencers, scammers, indians have extracted all the money from crypto. Nobody wants to touch that shit anymore
>>62405056I'm still herenothing is cooked, the desperation comes from newfags who got in late and are having their first bear or first liquidationthis has happened hundreds of times before
if you bought bitcoin 5 years ago and held it you would have made zero dollarssorry but ai sucked all the money and oxygen out of the room - turns you when you have useful tech it doesn't take a decade of flailing around to find use cases
>>62405056Only zoomers are cooked.
>>62405056Crypto as we once knew it, is dead. Simpul as. No more 10-1000x gains to be made. Hell, even a 2-5x would be impressive outside of the random cabal play, but even those are mostly gone. Desperate baggies will cope by saying things like how muh fundamentals haven't changed, this is just another cycle, they still believe its the future of finance, etc. Sure, maybe it will be in the future, long after we're all dead. Alts are fucking cooked, and even shitcoins get more respect because at least they acknowledge they are worthless shitcoins, whereas alts still believe in the utility meme even though everyone else realized by now they are schemes to funnel money.
>>62405384>This year is the bottom nothing will pump...You take profits 2028Correct, this year we will see an exceptional bottom. then in another 2years top if we lucky!
>>62405089Except Monero
>>62408035Monero will double each cycle.
>>62405056Imo 59k is the most important level for bitcoin right now. If this breaks then it's all over and there won't be another bullrun for crypto.
BTC and all Open ledgers are dead.You are literally holding files for the tax office.XMR will exist to aid in arbitrage and moving money to tax friendly jurisdictions.But BTC, lol, it’s cornholed.
What always annoyed me about crypto is that every crypto fanboy acts like it is a replacement for fiat currency. Yet they all just dump it for fiat currency when the crypto moons. Almost nobody uses cryptocurrency as a currency. It is just a way to make more fiat money.
>>62405056BTC $1 million before eoy
>>62409249This. I was a long time believer in crypto.The last liquidity cycle showed clearly, that all the hype, all the bullshit, all the ETFs, and crypto security lending, etc etc etc was all just lubricant for exit liquidity.The market saw it so shamelessly carried out, that there will not be a next cycle. Buyer sentiment is permanently destroyed by the last cycle, no one will touch it ever again as an ‘investment’Also AI yields are murdering crypto publicly in cold blood, good I say. The last cycle was a fucking disgrace!
>>62405056Oldfags here, bought my first coins in 2011.Not cooked at all. Nothing has changed, same thesis still applies. Fiat will collapse, crypto is the offramp.If you don't wanna hold crypto, you do you, I'm not going to stop you
>>62409284This is like denying you have cancer.Crypto has cancer.BTC and ETH were filled with the worst types of people the last several years, both in development and HODLrsThe market is so toxic with GRQ new projects that could be revolutionary die with weeks even days of launch.By being passive about the multitude and depth of the problems in the space it actually encourages more shit.That last cycle was abhorrent, it was clear to see big money hands were manipulating the market relentlessly and that is why in its current form Crypto is a trap. To move forward it needs to have technological failsafes to buffer it from the toxic effects of human psychology particularly group psychology. BTC white paper is dead, it failed to account for its own uptake in what the world is really like.
>>62405056Crypto got popular because it was making people money. It was making money because people were buying it. People were buying it because it was popular. Remove any one of those, and it falls apart. There's no possible reason to buy it anymore. Its reputation has been irreparably damaged by scam after highly visible scam, whether that be Luna, FTX, crypto games exploiting third-worlders, influencers rugging their audience, politicians rugging their voters, whatever the fuck NFTs were supposed to be, etc. Crypto was able to get big because the average person didn't know what it was beyond "thing making people money", and now the average person's perception of it is somewhere between "thing used by scammers to launder money" and "gambling instrument".To have any meaningful retail re-investment would require price increases that would necessitate retail already buying back in to begin with. The only ones still holding are either deluded as to the utility of it, or are coping over being the exit liquidity for those that bought during the last major dip and convinced that if the price 100x-ed before, then it will happen to them too, despite it not being possible for the circumstances surrounding it to be any more different.
>>62409317Nah not at all. bitcoin is fine, the side projects were always mostly garbage.Let me guess you're also a liberal who believes intervention of the state is necessary in the markets
>>62409359No fuckhead, I aren’t a liberal.If BTC was useful as currency it would be 100% private and have no permitted use case attached to it, like XMR. Instead you have an open ledger where your friends in the government can retroactively crawl up your ass for wrongthink spending. You fucking defend this?They were tracking BTC donations during the Canadian trucker crisis.You sir are a statist catamite, and want to suck on Wall Sts cock.>Vanguard is going to buy my BTC. Faget
>>62409370The participants don't matter. XMR is also promising, I hold 1200 XMR
>>62409249>What always annoyed me about crypto is that every crypto fanboy acts like it is a replacement for fiat currency. Yet they all just dump it for fiat currency when the crypto moonsThat’s how it always was though. Sure there were pockets of the hodl culture here and there but crypto was always a way to farm liquidity. There is no use case. Utility was always a meme and the token was never needed, ever. Don’t get me wrong, it was fun and stressful dealing with all that shit over the years but it’s been milked for all it had and there’s not enough retards left to keep the game going. Zoomers dgaf about crypto
>>62409284Fiat won't collapse but dollar dominance gradually will, and crypto will grow in its role as a natural bridge for trade settlements.
>>62409374Under an open ledger the participants DO matter. Ithe ONLY value the individual has in the 21st century is privacy.. this of course doesn’t matter if you are a stinky third world brownie who grow up in a 1br cow manure brick hovel with your 38 brothers and sisters, some of which you had to listen to and smell your developing nations uncles molest every night as you sleep on a pile on the floor.What is privacy in thirdie hell?
>>62405056I am hearing all the old excuses being churned out again about why crypto is over for ever this time, so I think we are near the bottom and 200k is a minimum for next run.
>>62409522So let’s say you brought in at $125kIt takes 2-3 years to get your $200k, then you sell and get the government taking $15-50k in capital gains tax depending on country.At the last cycle entry point that return is hot steaming dogshit.BTC is cancer, it won’t attract exit liquidity at those figures, the last cycle was it.The maths just don’t stack. It’s terrible, worse than a minimum wage job.
>>62405332Wouldn't the cycle start in October?
