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(Some Guy)   El Salvador crypto investments down 55%, president buying the dip again and HODLing. Who needs education and food for dirt poor citizens today when you can promise them all lambos that will never materialize instead?   (fxempire.com) divider line
    More: Asinine  
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352 clicks; posted to Business » on 01 Jul 2022 at 6:18 AM (6 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



49 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-07-01 3:41:13 AM  
I don't know why, but I enjoy reading these stories. These people and their pump and dump scheme are going to make the dot com bust look like someone accidentally dropping a twenty into the storm drain.

Actually I do know why I enjoy it... because crypto bros suck and and they keep shoveling more of their actual cash into a furnace and all they're doing is softening the landing for the people cashing out. Also I'm hoping to watch Tesla crumble.
 
2022-07-01 5:28:01 AM  
Bought 80 BTC at $20K?

Congrats, dipshit - you just lost an extra $40,000.
Fark user imageView Full Size
 
2022-07-01 6:23:37 AM  
El Presidente could not be reached for comment as he was stuck under a cardboard box when the stick propping it up suddenly fell trapping him inside.
 
2022-07-01 6:56:40 AM  
media.giphy.comView Full Size
 
2022-07-01 7:06:26 AM  
BTC will be HEADING FOR THE MOON!

Fark user imageView Full Size
 
2022-07-01 7:07:07 AM  

Cubansaltyballs: I don't know why, but I enjoy reading these stories. These people and their pump and dump scheme are going to make the dot com bust look like someone accidentally dropping a twenty into the storm drain.

Actually I do know why I enjoy it... because crypto bros suck and and they keep shoveling more of their actual cash into a furnace and all they're doing is softening the landing for the people cashing out. Also I'm hoping to watch Tesla crumble.


Well, you're certainly in the right place.  Business tab's seemed like nothing *but* crypto crash schadenfreude lately.
 
2022-07-01 7:19:41 AM  

Farking Clown Shoes: Bought 80 BTC at $20K?

Congrats, dipshiat - you just lost an extra $40,000.
[Fark user image 668x425]


Several someones have been buying Bitcoin like crazy to keep the price over $20k, probably to keep from getting margin called.  That steam looks like it's running out.  The real value of Bitcoin is about tree fiddy.
 
2022-07-01 7:19:52 AM  
I mined 33 bitcoin back in the day when it was worth about two sheets of toilet paper. Simply for the novelty of knowing how it was done. No matter what happens I make out. There's a small group of us who are laughing uncontrollably from just how God awfully stupid crypto has become. When it's all over someone's gonna write a game changing PhD paper on the effects of greed how a blind judgment.
 
2022-07-01 7:30:40 AM  
Thinking about it Krypto currency reminds me of the California gold rush of the 1800s. The real people who made out on it worth it manufactures of mining equipment, mom and pop landowners who got huge chunks of money from gullible people trying to make it big, and the con artists who bait and switch claims and got away with it. Can anyone guess who those people are today? It sure as shiat isnt you or me.
 
2022-07-01 7:47:02 AM  
A sketchy bitcoin website called fxempire.com wants to know if i would like to install their app.
Haa,Haa,Haa!!!!
 
2022-07-01 7:50:27 AM  

hlehmann: A sketchy bitcoin website called fxempire.com wants to know if i would like to install their app.
Haa,Haa,Haa!!!!


I'm not hearing a no!
 
2022-07-01 8:00:28 AM  

ImmutableTenderloin: I mined 33 bitcoin back in the day when it was worth about two sheets of toilet paper. Simply for the novelty of knowing how it was done. No matter what happens I make out. There's a small group of us who are laughing uncontrollably from just how God awfully stupid crypto has become. When it's all over someone's gonna write a game changing PhD paper on the effects of greed how a blind judgment.


Isn't it crazy?

I wish I hadn't sold my 100s of thousands of dogecoin back in the day, but it was free (solar powered) money for keeping a client running on a vm! I wish I NEVER shut down that vm, but I had moved on to Bukket Minecraft server mods and I needed the resources lol

Never pay real money for speculative magic internet money, just make a gaming rig and have it mine crypto while you're not using it!
 
2022-07-01 8:03:02 AM  
Bitcoin believers are continuing to load up on the asset at cheap prices as El Salvador becomes the latest to buy the dip.

You have no idea if it's cheap or not.  The fact that it is less expensive now in real dollar terms than it it was 6 months ago, does not at all mean that it is inexpensive now.
 
2022-07-01 8:08:24 AM  

Rapmaster2000: Bitcoin believers are continuing to load up on the asset at cheap prices as El Salvador becomes the latest to buy the dip.

You have no idea if it's cheap or not.  The fact that it is less expensive now in real dollar terms than it it was 6 months ago, does not at all mean that it is inexpensive now.


But for the selective few who've ran constant "buy the dip" advertisements are banking on the stupid and gullible to buy into it when the selective few in the know are quietly selling. Crypto has all been about manipulating the masses into doing, yet again, stupid shiat.

Just like the classical speculative financial institutions that exist today.
 
2022-07-01 8:20:10 AM  

ImmutableTenderloin: I mined 33 bitcoin back in the day when it was worth about two sheets of toilet paper. Simply for the novelty of knowing how it was done. No matter what happens I make out. There's a small group of us who are laughing uncontrollably from just how God awfully stupid crypto has become. When it's all over someone's gonna write a game changing PhD paper on the effects of greed how a blind judgment.


And you didn't sell them off at $60,000 or $50,000 or $40,000 or $30,000 or $25,000 because.....?
 
2022-07-01 8:21:52 AM  

ImmutableTenderloin: Rapmaster2000: Bitcoin believers are continuing to load up on the asset at cheap prices as El Salvador becomes the latest to buy the dip.

You have no idea if it's cheap or not.  The fact that it is less expensive now in real dollar terms than it it was 6 months ago, does not at all mean that it is inexpensive now.

But for the selective few who've ran constant "buy the dip" advertisements are banking on the stupid and gullible to buy into it when the selective few in the know are quietly selling. Crypto has all been about manipulating the masses into doing, yet again, stupid shiat.

Just like the classical speculative financial institutions that exist today.


Wait, are you telling me that Crypto News like FXEmpire might be manipulative too?

On July 1, El Salvador's enigmatic president Nayib Bukele

He's so dark and mysterious!  If you buy and hodl, you can be enigmatic too!
 
2022-07-01 8:36:32 AM  
It's probably what's required to get the people there to remove a dictator.
 
2022-07-01 8:39:27 AM  
"Buy the dip" doesn't mean buy when it goes down, it means buy before it goes back up. You can't credit someone with "buying the dip" before you know it's going back up. For now, they're just buying.
 
2022-07-01 8:49:08 AM  
That dude is going to be ripped apart on live TV.
 
2022-07-01 8:54:31 AM  
Neal Stephenson has much to answer for.
 
2022-07-01 9:04:25 AM  

Cubansaltyballs: I don't know why, but I enjoy reading these stories. These people and their pump and dump scheme are going to make the dot com bust look like someone accidentally dropping a twenty into the storm drain.

Actually I do know why I enjoy it... because crypto bros suck and and they keep shoveling more of their actual cash into a furnace and all they're doing is softening the landing for the people cashing out. Also I'm hoping to watch Tesla crumble.


It's a train wreck.
 
2022-07-01 9:06:06 AM  

Cubansaltyballs: I don't know why, but I enjoy reading these stories. These people and their pump and dump scheme are going to make the dot com bust look like someone accidentally dropping a twenty into the storm drain.

Actually I do know why I enjoy it... because crypto bros suck and and they keep shoveling more of their actual cash into a furnace and all they're doing is softening the landing for the people cashing out. Also I'm hoping to watch Tesla crumble.


I enjoy it way more when people screw themselves, without taking down an entire impoverished country full of people with them.
 
2022-07-01 9:16:28 AM  

Eddie Hazel's E string: ImmutableTenderloin: I mined 33 bitcoin back in the day when it was worth about two sheets of toilet paper. Simply for the novelty of knowing how it was done. No matter what happens I make out. There's a small group of us who are laughing uncontrollably from just how God awfully stupid crypto has become. When it's all over someone's gonna write a game changing PhD paper on the effects of greed how a blind judgment.

And you didn't sell them off at $60,000 or $50,000 or $40,000 or $30,000 or $25,000 because.....?


I had a friend do that with just a couple of bitcoins and forgot he had them. He cashed out when they hit $600, but only because someone reminded him that he had some at one point.

I was going to mine some just to see how it worked, but I'd have probably sold them when they hit $100.

Such is life.
 
2022-07-01 9:22:53 AM  
Fark user imageView Full Size
 
2022-07-01 9:29:24 AM  

labman: Eddie Hazel's E string: ImmutableTenderloin: I mined 33 bitcoin back in the day when it was worth about two sheets of toilet paper. Simply for the novelty of knowing how it was done. No matter what happens I make out. There's a small group of us who are laughing uncontrollably from just how God awfully stupid crypto has become. When it's all over someone's gonna write a game changing PhD paper on the effects of greed how a blind judgment.

And you didn't sell them off at $60,000 or $50,000 or $40,000 or $30,000 or $25,000 because.....?

I had a friend do that with just a couple of bitcoins and forgot he had them. He cashed out when they hit $600, but only because someone reminded him that he had some at one point.

I was going to mine some just to see how it worked, but I'd have probably sold them when they hit $100.

Such is life.


Naturally, the risk is having the price going higher after you sell off. But then you're out of the market and can evaluate the situation without having any self interest. You're also safe from the thing plummeting to zero, and get to laugh at the suckers with the rest of us.

I find it amusing that OP has dropped phrases like "laughing uncontrollably" and saying "just how God awfully stupid crypto has become" while they are still holding onto their Bitcoin.
 
2022-07-01 9:41:03 AM  

NewportBarGuy: That dude is going to be ripped apart on live TV.


It's going to be another ice town!
 
2022-07-01 10:19:55 AM  
Imagine you're the father or mother of a thousands little kids who don't have enough to eat, don't have enough basic necessities like clothes, and aren't going to school.

Now imagine you had hundreds of millions of dollars to start helping then out with with things in these firmative years.

Could you ever say to them. "Fark you, kids, I'm putting all our money in Pokemon cards for 5-10 years cause I hace a good feeling, we might get rich"

THAT is exactly what this monumentally cruel arsehole president is doing. Even IF he makes more money in 10 years than he has put in (despite being 55% down at the moment)... one cannot put a cost on the loss of health and education for countless of poor El Salvadorian children, whose formative years will have passed them by

Shame, SHAME on this arsehole!!
 
2022-07-01 10:23:54 AM  

NewportBarGuy: That dude is going to be ripped apart on live TV.


Like in a debate, or like what happened to the De Witt brothers?
 
2022-07-01 10:31:07 AM  
Bro I'm telling you it's gonna shoot up over this weekend, like bro you'd better get that buy in now because by like midnight or some shiat Elon is gonna tweet about it and it's gonna hit 80k in a couple hours bro. My buddy Chase's dad knows someone at coinbase and he's got like some numbers or some shiat that he's seen that back all this up, bro. Just saying bro how much money you wanna make? You wanna retire tomorrow? Better buy bro!

ichef.bbci.co.ukView Full Size
 
2022-07-01 10:42:42 AM  
At this point the douche canoe is just trying to keep it propped up over 20k. Let's see who wins, markets or their money pile left.
 
2022-07-01 10:43:41 AM  

AsparagusFTW: [media.giphy.com image 480x265]


The fact that THIS guy is buying bitcoin doesn't help with its image that it is for criminals. Man has street gang connections that were used to help him get elected.
 
2022-07-01 11:41:35 AM  
This is just insane.  He rules a country with fiat currency.  He is undercutting his own country by buying bitcoin.
 
2022-07-01 11:48:12 AM  

Blathering Idjut: This is just insane.  He rules a country with fiat currency.  He is undercutting his own country by buying bitcoin.


He's trying to replace fiat currency with an even worst fiat currency.
 
2022-07-01 11:50:09 AM  
He can buy the dip again this morning.
 
2022-07-01 12:21:04 PM  

labman: Eddie Hazel's E string: ImmutableTenderloin: I mined 33 bitcoin back in the day when it was worth about two sheets of toilet paper. Simply for the novelty of knowing how it was done. No matter what happens I make out. There's a small group of us who are laughing uncontrollably from just how God awfully stupid crypto has become. When it's all over someone's gonna write a game changing PhD paper on the effects of greed how a blind judgment.

And you didn't sell them off at $60,000 or $50,000 or $40,000 or $30,000 or $25,000 because.....?

I had a friend do that with just a couple of bitcoins and forgot he had them. He cashed out when they hit $600, but only because someone reminded him that he had some at one point.

I was going to mine some just to see how it worked, but I'd have probably sold them when they hit $100.

Such is life.


A simple rule of thumb is to wait for the price to double and then sell half of your coins. When it dips, hold on until it recovers to 2x the previous peak before repeating the process. The actual ratio doesn't have to be 2.0 / 0.5 but the principle is to let the goose lay a golden egg whenever it feels like it. Try to cash out everything at once and you will regret it later.
 
2022-07-01 12:21:08 PM  

Metaluna Mutant: [Fark user image 425x423]


encrypted-tbn0.gstatic.comView Full Size
 
2022-07-01 12:36:27 PM  

Arkanaut: NewportBarGuy: That dude is going to be ripped apart on live TV.

Like in a debate, or like what happened to the De Witt brothers?


Definitely the second one.
 
2022-07-01 1:25:37 PM  

Ivo Shandor: labman: Eddie Hazel's E string: ImmutableTenderloin: I mined 33 bitcoin back in the day when it was worth about two sheets of toilet paper. Simply for the novelty of knowing how it was done. No matter what happens I make out. There's a small group of us who are laughing uncontrollably from just how God awfully stupid crypto has become. When it's all over someone's gonna write a game changing PhD paper on the effects of greed how a blind judgment.

And you didn't sell them off at $60,000 or $50,000 or $40,000 or $30,000 or $25,000 because.....?

I had a friend do that with just a couple of bitcoins and forgot he had them. He cashed out when they hit $600, but only because someone reminded him that he had some at one point.

I was going to mine some just to see how it worked, but I'd have probably sold them when they hit $100.

Such is life.

A simple rule of thumb is to wait for the price to double and then sell half of your coins. When it dips, hold on until it recovers to 2x the previous peak before repeating the process. The actual ratio doesn't have to be 2.0 / 0.5 but the principle is to let the goose lay a golden egg whenever it feels like it. Try to cash out everything at once and you will regret it later.


I love how there are now rules to timing a pump and dump.
 
2022-07-01 1:31:50 PM  

Cubansaltyballs: I love how there are now rules to timing a pump and dump.


That's different. If you are directly manipulating the price then you do sell your entire position at an appropriate moment. I'm talking about a multi-year strategy for someone who is a passive participant in a market.
 
2022-07-01 1:39:39 PM  

twistedsteel5252: It's probably what's required to get the people there to remove a dictator.


Bukele is currently the most popular politician in El Salvador.  As asinine as it sounds, he's considered an improvement over the clowns that were previously running the country.
 
2022-07-01 1:40:08 PM  

Cubansaltyballs: Ivo Shandor: A simple rule of thumb is to wait for the price to double and then sell half of your coins. When it dips, hold on until it recovers to 2x the previous peak before repeating the process. The actual ratio doesn't have to be 2.0 / 0.5 but the principle is to let the goose lay a golden egg whenever it feels like it. Try to cash out everything at once and you will regret it later.

I love how there are now rules to timing a pump and dump.


The rule I like to use is "buy before the pump, sell before the dump."
 
2022-07-01 1:42:59 PM  

Eddie Hazel's E string: ImmutableTenderloin: I mined 33 bitcoin back in the day when it was worth about two sheets of toilet paper. Simply for the novelty of knowing how it was done. No matter what happens I make out. There's a small group of us who are laughing uncontrollably from just how God awfully stupid crypto has become. When it's all over someone's gonna write a game changing PhD paper on the effects of greed how a blind judgment.

And you didn't sell them off at $60,000 or $50,000 or $40,000 or $30,000 or $25,000 because.....?


PhD paper.
 
2022-07-01 2:17:09 PM  

Mouser: Bukele is currently the most popular politician in El Salvador.


Homer Simpson: "So far."
 
2022-07-01 2:23:06 PM  

Rapmaster2000: ImmutableTenderloin: Rapmaster2000: Bitcoin believers are continuing to load up on the asset at cheap prices as El Salvador becomes the latest to buy the dip.

You have no idea if it's cheap or not.  The fact that it is less expensive now in real dollar terms than it it was 6 months ago, does not at all mean that it is inexpensive now.

But for the selective few who've ran constant "buy the dip" advertisements are banking on the stupid and gullible to buy into it when the selective few in the know are quietly selling. Crypto has all been about manipulating the masses into doing, yet again, stupid shiat.

Just like the classical speculative financial institutions that exist today.

Wait, are you telling me that Crypto News like FXEmpire might be manipulative too?

On July 1, El Salvador's enigmatic president Nayib Bukele

He's so dark and mysterious!  If you buy and hodl, you can be enigmatic too!


Apparently gambling your countries treasury on a get rich quick scheme makes you "enigmatic."  The real word is dumbass.
 
2022-07-01 2:28:15 PM  

Mouser: twistedsteel5252: It's probably what's required to get the people there to remove a dictator.

Bukele is currently the most popular politician in El Salvador.  As asinine as it sounds, he's considered an improvement over the clowns that were previously running the country.


I believe it, it's just when any favorite person loses most of your money there's normally a radical swing in perspective.
 
2022-07-01 2:34:39 PM  
 
2022-07-01 6:02:15 PM  

Intrepid00: He can buy the dip again this morning.


Fark user imageView Full Size


So can I.
 
2022-07-01 8:32:25 PM  

olorin604: Neal Stephenson has much to answer for.


But Bruce Sterling is looking smart
 
2022-07-02 12:00:40 PM  

Rapmaster2000: Bitcoin believers are continuing to load up on the asset at cheap prices as El Salvador becomes the latest to buy the dip.

You have no idea if it's cheap or not.  The fact that it is less expensive now in real dollar terms than it it was 6 months ago, does not at all mean that it is inexpensive now.


neither assets, nor cheap.  That sentence has itself loaded up.
 
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