BITCOIN

DannyCarey

Deleted_User said:

Bitcoin's structural limits mean it can never become the world's digital currency solution. Hundreds of kwhr of energy PER TRANSACTION?!? Max 7 transactions a second GLOBALLY?!? 

We may get a few more price bounces but Bitcoin is now a joke and it will eventually go away (as it should) to hopefully be replaced in due course with a system that's actualy functional in real world scenarios.

Remember Altavista? The "first google" (before Google). It was also the first of its kind, like Bitcoin, and for a few years it was the "go to" site in search. Not worth very much today however.

Incredibly inaccurate post here.

DannyCarey

Frequentlyhere said:

Uh oh, a high US CPI inflation print. The global reserve currency is collapsing, good thing I have my Bit-

Oh no.

Nice selective timing you have there ser, very impartial. 

hallmark

It's noticeable that BTC has repeatedly dropped to 18.5k in the last 2-3 months and every time found decent support and rallied. It looks a little unnatural to me and I wonder if there are leveraged holders / institutions out there who are facing wipeout if crypto drops below a certain level and desperately buy to shore up the price whenever that seems likely. On the grounds that if they'll get wiped out anyway they don't have much to lose.

This is total ill-informed speculation on my part but we know that the crypto world tends to be insanely leveraged and it does seem a little strange that it would keep finding support at that level.

It was well-publicized that Microstrategy would be facing calls if BTC went below $21k and stayed there (which it has obviously) and it's fair to wonder how many others are in that same situation.

DannyCarey

hallmark said:

It's noticeable that BTC has repeatedly dropped to 18.5k in the last 2-3 months and every time found decent support and rallied. It looks a little unnatural to me and I wonder if there are leveraged holders / institutions out there who are facing wipeout if crypto drops below a certain level and desperately buy to shore up the price whenever that seems likely. On the grounds that if they'll get wiped out anyway they don't much to lose.

This is total ill-informed speculation on my part but we know that the crypto world tends to be insanely leveraged and it does seem a little strange that it would keep finding support at that level.

It was well-publicized that Microstrategy would be facing calls if BTC went below $21k and stayed there (which it has obviously) and it's fair to wonder how many others are in that same situation.

There may be something to that, who knows. 

The total addresses of people holding 0.1 bitcoin or more continues to go up every day and is well past all time highs, so I do think there are a lot of small time retail buyers buying whilst the price has taken quite a dip down (along with pretty much everything else you can put money into, except property...).

DannyCarey

https://www.youtube.com/watch?v=bIuMdj_FE_E

mooneysaver

So what was everyone's highlight of NFT.London? That Alessandro De Grandi talk was fire!!!!

quirkydeptless

..........

DannyCarey

https://twitter.com/CNBC/status/1589598994497474561

FrankRizzo

Any help appreciated 

https://forums.moneysavingexpert.com/discussion/6401349/crypto-friendly-banks-revolut-no-more/p1?new=1

hallmark

$15,737 currently.  You have to think there's an awful lot of leveraged positions / companies that won't be able to stand this level of falls very long.