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(Ars Technica)   If you went to bed a Bitcoin Millionaire, I have some bad news for you   (arstechnica.com) divider line
    More: Fail, Federal Reserve System, Monetary policy, Central bank, cryptocurrency market, Interest rate, Stock market, Money supply, future growth  
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1592 clicks; posted to Business » on 24 Jan 2022 at 8:05 AM (17 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



42 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-01-24 8:21:00 AM  
Big deal.  Useless fiat dollars lose half of their value in 2 months all the time.
 
2022-01-24 8:46:10 AM  
In the spring I overheard a couple of the young guys talking about how much their crypto was worth, heard they lost it all and then some recently, they were not looking that happy for the last few weeks.
 
2022-01-24 8:50:55 AM  
Well, I still have my AMC stock!!!!

Oh wait...
 
2022-01-24 9:02:10 AM  
Blockchain solves everything!
Diamond hands!
HODL!

Have I forgotten amy of the idiotic mantras?

Crypto bros will be looked back at with embarrassment like we now look back and laugh at "flower power", "hippies" and "valley girls".
 
2022-01-24 9:06:17 AM  

ChibiDebuHage: Blockchain solves everything!
Diamond hands!
HODL!

Have I forgotten amy of the idiotic mantras?

Crypto bros will be looked back at with embarrassment like we now look back and laugh at "flower power", "hippies" and "valley girls".


Check out the Doge Millionaire Twitter (the guy who was a millionaire from Doge sometime last year and is now probably not though he has monetized being just a guy who magically got rich and so can you!).

A few other ones are "buy the dip", FUD and #NGMI (Not Going to Make It) which means "you don't have the guts to be rich."
 
2022-01-24 9:07:20 AM  
Subby types like a poor.

Fark user imageView Full Size
 
2022-01-24 9:07:33 AM  
We'll know it's over when eBay's full of used video cards, all somehow still Radeon HD 5800s, and people go back to saying they're in it for the tech and never selling.
 
2022-01-24 9:20:27 AM  
 
2022-01-24 9:30:17 AM  
Ha!  That's why I transitioned all my money to NFTs.
 
2022-01-24 9:38:02 AM  
Guys... are we still stinking it to the Banksters?!
 
2022-01-24 9:38:26 AM  
Someone will be along shortly to claim they are still up a few percent and will completely ignore that they've lost huge amounts of value in recent months.
 
2022-01-24 10:03:49 AM  

ChibiDebuHage: Blockchain solves everything!
Diamond hands!
HODL!

Have I forgotten amy of the idiotic mantras?


Proof of Stake!
Apes strong together!
Look at these tendies!
LAMBO TO THE MOOOOOOOOON!
 
2022-01-24 10:20:15 AM  

Gubbo: Someone will be along shortly to claim they are still up a few percent and will completely ignore that they've lost huge amounts of value in recent months.


You never lose money until you sell.
 
2022-01-24 10:23:16 AM  
I bought 30 bucks worth of crypto, watched get up to $170 and cashed out at $100. I wish I had ignored my wife when I was talking about cashing out at 170.
 
2022-01-24 10:25:04 AM  
aoptimistic_cynic: Gubbo: Someone will be along shortly to claim they are still up a few percent and will completely ignore that they've lost huge amounts of value in recent months.

You never lose money until you sell.


I see it down 8% already today, compared to the Dow being 2%.

The time to sell might actually be gone for some people.
 
2022-01-24 10:25:43 AM  

ltnor: I bought 30 bucks worth of crypto, watched get up to $170 and cashed out at $100. I wish I had ignored my wife when I was talking about cashing out at 170.


Would you have paid more in transaction charges than your investment and profit?
 
2022-01-24 10:28:09 AM  
Hey guys, invest in my all new Blockchain based digital asset, PonziCoin!

Get in on the ground floor!
 
2022-01-24 10:33:11 AM  

Gubbo: aoptimistic_cynic: Gubbo: Someone will be along shortly to claim they are still up a few percent and will completely ignore that they've lost huge amounts of value in recent months.

You never lose money until you sell.

I see it down 8% already today, compared to the Dow being 2%.

The time to sell might actually be gone for some people.


Yeah, I did some mining briefly a few years ago eth and bitcoin, selling it always seemed to be sketch sites and the fees were no picnic so it's just sitting. Don't think I have a full coin of any of them. My wife has gold jewelry that she never wears but we aren't selling that either.
 
2022-01-24 11:05:00 AM  
Salvadoran President TechBro vows to continue buying the dip.
 
2022-01-24 11:17:54 AM  

Gubbo: ltnor: I bought 30 bucks worth of crypto, watched get up to $170 and cashed out at $100. I wish I had ignored my wife when I was talking about cashing out at 170.

Would you have paid more in transaction charges than your investment and profit?


I honestly don't know. I was just doing it for fun and happened to make a dinner out.
 
2022-01-24 11:23:04 AM  
Article headline: Bitcoin drops to six-month low as investors dump speculative assets

There are two words here that do not belong in any headline or story about people buying and selling Bitcoin. I've highlighted them to help out the hard-of-thinking, who will self-identify by defending Bitcoin.
 
2022-01-24 12:19:09 PM  

Nullav: We'll know it's over when eBay's full of used video cards, all somehow still Radeon HD 5800s, and people go back to saying they're in it for the tech and never selling.


Video cards haven't been used to mine Bitcoin for many years now.
 
2022-01-24 12:19:51 PM  

Ishkur: ChibiDebuHage: Blockchain solves everything!
Diamond hands!
HODL!

Have I forgotten amy of the idiotic mantras?

Proof of Stake!
Apes strong together!
Look at these tendies!
LAMBO TO THE MOOOOOOOOON!


c.tenor.comView Full Size
 
2022-01-24 12:24:10 PM  

mcreadyblue: Nullav: We'll know it's over when eBay's full of used video cards, all somehow still Radeon HD 5800s, and people go back to saying they're in it for the tech and never selling.

Video cards haven't been used to mine Bitcoin for many years now.


The other cryptocurrencies tend to follow Bitcoin's price trend though. ETH is mined on GPUs.
Fark user imageView Full Size
 
2022-01-24 12:27:36 PM  

mcreadyblue: Nullav: We'll know it's over when eBay's full of used video cards, all somehow still Radeon HD 5800s, and people go back to saying they're in it for the tech and never selling.

Video cards haven't been used to mine Bitcoin for many years now.


People are GPU-mining nearly everything that moves in near-lockstep with BTC's prices. Not a single crypto can stand on its own, so interest for the whole pile picks up at nearly the same time.
 
2022-01-24 12:41:30 PM  
holly fooking chit ballz, that's an honest worded headline about crypto.


Bitcoin drops to six-month low as investors dump speculative assets


Look at hat, for once they know what the fook they are talking ab out and didn't fake it.

here let me try to ruin your bliss with this headline corrected to be the lies we more commonly see:

Bitcoin drops to six-month low as investors dump assets.

yeah one word is the difference, but boy howdy what a difference missing that one world makes in the reality before us.


In one we have "assets" as in something that was itself intrinsically valuable in some way it as an asset.
In the other we only have speculation of value, not an "asset" but explicitly a "speculative asset," meaning we acknowledge that it has nothig of intrinsic value itself, we merely speculate that someone else will place value on it.


The tulip grow house structure, on some land. The tools to use and maintain the grow house. Those are assets.
The tulips they are growing however, just speculative value, so speculative assets.

That one word difference, is a whole other form of reality to have experienced.
 
2022-01-24 12:50:24 PM  

Ishkur: ChibiDebuHage: Blockchain solves everything!
Diamond hands!
HODL!

Have I forgotten amy of the idiotic mantras?

Proof of Stake!
Apes strong together!
Look at these tendies!
LAMBO TO THE MOOOOOOOOON!


Also: you just don't understand crypto!
 
2022-01-24 1:41:36 PM  

tyyreaunn: Ishkur: ChibiDebuHage: Blockchain solves everything!
Diamond hands!
HODL!

Have I forgotten amy of the idiotic mantras?

Proof of Stake!
Apes strong together!
Look at these tendies!
LAMBO TO THE MOOOOOOOOON!

Also: you just don't understand crypto!


HFBP
 
2022-01-24 1:44:33 PM  

mcreadyblue: Nullav: We'll know it's over when eBay's full of used video cards, all somehow still Radeon HD 5800s, and people go back to saying they're in it for the tech and never selling.

Video cards haven't been used to mine Bitcoin for many years now.


Did.......did you just say GPUs aren't used to mine crypto?
 
2022-01-24 1:59:18 PM  

Gubbo: mcreadyblue: Nullav: We'll know it's over when eBay's full of used video cards, all somehow still Radeon HD 5800s, and people go back to saying they're in it for the tech and never selling.

Video cards haven't been used to mine Bitcoin for many years now.

Did.......did you just say GPUs aren't used to mine crypto?


No, he clearly said "Bitcoin".
 
2022-01-24 2:11:14 PM  

Ivo Shandor: Gubbo: mcreadyblue: Nullav: We'll know it's over when eBay's full of used video cards, all somehow still Radeon HD 5800s, and people go back to saying they're in it for the tech and never selling.

Video cards haven't been used to mine Bitcoin for many years now.

Did.......did you just say GPUs aren't used to mine crypto?

No, he clearly said "Bitcoin".


Ah. Technically correct. The best kind of correct. Ignore the fact that you can't buy a GPU at MSRP because of crypto and bitcoin.
 
2022-01-24 2:11:51 PM  
oh damn it's down to levels it was 6 months ago where it then proceeded to climb to a new all time high oh nooooooooooooo.
 
2022-01-24 2:12:54 PM  

replacementcool: oh damn it's down to levels it was 6 months ago where it then proceeded to climb to a new all time high oh nooooooooooooo.


Hello there crypto bro.
 
2022-01-24 2:19:02 PM  

Rapmaster2000: ChibiDebuHage: Blockchain solves everything!
Diamond hands!
HODL!

Have I forgotten amy of the idiotic mantras?

Crypto bros will be looked back at with embarrassment like we now look back and laugh at "flower power", "hippies" and "valley girls".

Check out the Doge Millionaire Twitter (the guy who was a millionaire from Doge sometime last year and is now probably not though he has monetized being just a guy who magically got rich and so can you!).



By chance, did that guy move from CA to FL?  My boss just spun a tale about "a good friend of his" who made just shy of a $billion on Dogecoin (no, he corrected himself, "Shiba Inu"), and moved to FL because it's sooooo much better there tax-wise. Because apparently Florida is the shining star of the world, to some people.
 
2022-01-24 2:39:10 PM  
I wanted to crash the Crypto market. All I had to do was jump in even with a meager few bucks. My luck is so volatile that it effects others around me. So I knew if I invested any real money into Crypto it would crash. I jumped in Dec 4th, 2021. Nothing but down since.

/ It's always my fault. Always.
 
2022-01-24 2:41:19 PM  

ltnor: I bought 30 bucks worth of crypto, watched get up to $170 and cashed out at $100. I wish I had ignored my wife when I was talking about cashing out at 170.


Enh. It's $70. Tell her she owes you a dinner at a restaurant.
 
2022-01-24 2:56:44 PM  

Gubbo: replacementcool: oh damn it's down to levels it was 6 months ago where it then proceeded to climb to a new all time high oh nooooooooooooo.

Hello there crypto bro.


was something i said wrong?

Fark user imageView Full Size
 
2022-01-24 3:00:13 PM  

replacementcool: Gubbo: replacementcool: oh damn it's down to levels it was 6 months ago where it then proceeded to climb to a new all time high oh nooooooooooooo.

Hello there crypto bro.

was something i said wrong?

[Fark user image 830x374]


So if you bought at any point except the previous rock bottom, you're underwater. Thanks for the chart.

And even if you did buy at rock bottom, you've lost a huge amount of the value that you had a few months ago.

/congrats
 
2022-01-24 3:14:31 PM  

Gubbo: Ivo Shandor: Gubbo: mcreadyblue: Nullav: We'll know it's over when eBay's full of used video cards, all somehow still Radeon HD 5800s, and people go back to saying they're in it for the tech and never selling.

Video cards haven't been used to mine Bitcoin for many years now.

Did.......did you just say GPUs aren't used to mine crypto?

No, he clearly said "Bitcoin".

Ah. Technically correct. The best kind of correct. Ignore the fact that you can't buy a GPU at MSRP because of crypto and bitcoin.


Good recovery.
 
2022-01-24 3:27:44 PM  

Gubbo: replacementcool: Gubbo: replacementcool: oh damn it's down to levels it was 6 months ago where it then proceeded to climb to a new all time high oh nooooooooooooo.

Hello there crypto bro.

was something i said wrong?

[Fark user image 830x374]

So if you bought at any point except the previous rock bottom, you're underwater. Thanks for the chart.

And even if you did buy at rock bottom, you've lost a huge amount of the value that you had a few months ago.

/congrats


you're right, it's the end of crypto.
 
2022-01-24 4:03:53 PM  

replacementcool: Gubbo: replacementcool: Gubbo: replacementcool: oh damn it's down to levels it was 6 months ago where it then proceeded to climb to a new all time high oh nooooooooooooo.

Hello there crypto bro.

was something i said wrong?

[Fark user image 830x374]

So if you bought at any point except the previous rock bottom, you're underwater. Thanks for the chart.

And even if you did buy at rock bottom, you've lost a huge amount of the value that you had a few months ago.

/congrats

you're right, it's the end of crypto.


No, that's going to be next month after the gov't regulations start kicking in
 
2022-01-24 4:11:49 PM  
Cryptocurrency is a viable investment as long as there is an endless supply of greater fools dropping infinitely increasing amount of money into the market.
 
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