Author Topic: How soon until Bitcoin crashes?  (Read 77085 times)

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Online morekaos

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Re: How soon until Bitcoin crashes?
« Reply #375 on: June 20, 2022, 02:43:15 PM »
Trying to repeal reality never holds up for very long...gravity is funny that way... ;D ;D >:D

ANOTHER Crypto lender stops customers withdrawing their money: Hong Kong based Babel finance blames 'unusual liquidity pressures' amid fears Bitcoin crash has only just begun
Babel Finance has frozen withdrawals of cryptocurrency during the latest crash
Babel said it is 'facing unusual liquidity pressures' after this week's meltdown
The market dropped below $1 trillion on Monday for the first time in 18 months
Bitcoin is down 30 per cent this month - and 55 per cent in 2022 so far

https://www.dailymail.co.uk/news/article-10927091/ANOTHER-Crypto-lender-stops-customers-withdrawing-money-citing-liquidity-pressures.html

« Last Edit: June 20, 2022, 03:37:38 PM by morekaos »

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Re: How soon until Bitcoin crashes?
« Reply #376 on: June 20, 2022, 04:44:40 PM »
Trying to repeal reality never holds up for very long...gravity is funny that way... ;D ;D >:D

ANOTHER Crypto lender stops customers withdrawing their money: Hong Kong based Babel finance blames 'unusual liquidity pressures' amid fears Bitcoin crash has only just begun
Babel Finance has frozen withdrawals of cryptocurrency during the latest crash
Babel said it is 'facing unusual liquidity pressures' after this week's meltdown
The market dropped below $1 trillion on Monday for the first time in 18 months
Bitcoin is down 30 per cent this month - and 55 per cent in 2022 so far

https://www.dailymail.co.uk/news/article-10927091/ANOTHER-Crypto-lender-stops-customers-withdrawing-money-citing-liquidity-pressures.html


It's a good old-fashioned bank run but without the FDIC insurance on customer accounts.  This is going to get really ugly.

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Re: How soon until Bitcoin crashes?
« Reply #377 on: June 21, 2022, 08:56:13 AM »
Built by criminals for criminals with NO cops...wadda ya expect would happen?  Who says history never repeats? ;D ;D >:D

I disagree. Unlike a basic startup that peddles a specific product or service this is an attempt at a medium of exchange.  That requires that all participants agree to some form of ground rules and standards. There are no real rules, consequences, cops or recourse there.   Seen it come and go before...remember Flooz??...ask Whoopi how that went. Or Beenz?... This game has too many dark corners for my taste...have fun with it ..while it lasts.

Flooz.com
Flooz was an idea for virtual currency accumulated like frequent flier miles: You would receive them as bonuses from online merchants, or you could go to the site and purchase more of them.  You then could redeem them for merchandise from participating merchants.

The site was founded in Feb. 1999, and it became better known for having Whoopi Goldberg as its spokeswoman than for what it actually did.  The company announced its closure on Aug. 26, 2001, leaving people with completely worthless Flooz currency, even if they had purchased it as opposed to earning it.  It is estimated that the company had burned through as much as $50 million in venture capital by the time it shut its doors.

Robert Levitan, one of the founders of the company, told The Industry Standard that by mid-2001 the company had been informed by the FBI that it was being targets by Russian criminals in a money laundering scheme.  It was discovered that as much as 19 percent of its transactions had been of a fraudulent nature.




Online morekaos

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Re: How soon until Bitcoin crashes?
« Reply #378 on: June 21, 2022, 02:33:11 PM »
We can thank Matt Damon for calling out the high...thanks Matt!


The end is neigh...

Matt Damon’s sold his soul for crypto’: Actor is roasted on social media for commercial in which he tells people to invest in Bitcoin because ’fortune favors the brave’
Matt Damon spearheaded a commercial for cryptocurrency that aired during Sunday's NFL games and has made Twitter users cringe
The ad likened purchasing Bitcoin to landing on the moon as Damon strolled down a sci-fi-esque hallway talking about how 'history is filled with almosts'
Vignettes nodded to explorers sailing and climbing Mount Everest, as well as nods to the Wright Brothers, before flashing 'Crypto.com' at the last second
Crypto.com, which sells cryptocurrency and NFTs, donates $1m to Water.org, a nonprofit co-founded by Damon that brings safe, clean water to people in need
Many users tweeted that they felt as if the actor, 51, was calling them a p***y for not spending their life savings on crypto such as a '$378,000 cartoon ape'
One tweet called the ad an insult to Damon's 'own cinematic legacy from The Martian,' where he played an astronaut stranded on Mars

https://www.dailymail.co.uk/news/article-10365337/Matt-Damon-roasted-ad-telling-people-invest-Bitcoin-fortune-favors-brave.html

Online morekaos

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Re: How soon until Bitcoin crashes?
« Reply #379 on: June 22, 2022, 04:23:49 PM »
So with no central bank to throw a lifeline…the thieves must try to save themselves….

Bitcoin billionaire Sam Bankman-Fried bails out embattled crypto firms BlockFi and Voyager

With no central bank willing to come to the rescue, beleaguered crypto companies are turning to their peers for help.

Billionaire crypto exchange boss Sam Bankman-Fried has signed deals to bail out two firms in as many weeks: BlockFi, a quasi-bank, and Voyager Digital, a digital asset brokerage.

https://www.cnbc.com/2022/06/22/sam-bankman-fried-rescues-crypto-lenders-blockfi-voyager.html?

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Re: How soon until Bitcoin crashes?
« Reply #380 on: June 22, 2022, 07:10:11 PM »
So with no central bank to throw a lifeline…the thieves must try to save themselves….

Bitcoin billionaire Sam Bankman-Fried bails out embattled crypto firms BlockFi and Voyager

With no central bank willing to come to the rescue, beleaguered crypto companies are turning to their peers for help.

Billionaire crypto exchange boss Sam Bankman-Fried has signed deals to bail out two firms in as many weeks: BlockFi, a quasi-bank, and Voyager Digital, a digital asset brokerage.

https://www.cnbc.com/2022/06/22/sam-bankman-fried-rescues-crypto-lenders-blockfi-voyager.html?

And what happens when the lifetimes aren't enough and these bailed out crypto companies go belly up?  Will they drag FTX down as well?  I just can't see things getting better as the Fed sucks out liquidity out of the market.
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Online morekaos

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Re: How soon until Bitcoin crashes?
« Reply #381 on: June 22, 2022, 08:03:52 PM »
Like all Unicorn and Rainbow believers…faith cannot overcome reality and gravity….

NFT Market Collapse | Will It Recover Or Not?

Recently the graphics of the NFT market went down. Even the most successful NFT collections could not survive the downfall. The floor prices of top NFTs crashed.  In this post, we will discuss more on the NFT market collapse.

From June 10 onwards the graph started to decline. The top NFT collections including Bored Ape Yacht Club and Mutant Ape Yacht club went down with their floor prices crashing in both Eths and US dollars. Is this the end of NFT culture or will it rise again?

https://deasilex.com/nft-market-collapse/

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Re: How soon until Bitcoin crashes?
« Reply #382 on: June 23, 2022, 08:02:59 AM »
I wish articles actually gave more details when they say 'crash' 'collapse' 'soared'. Those Bored Apes currently have a floor of 89 Eth which is ~$99k USD right now (https://opensea.io/collection/boredapeyachtclub). That is the lowest you can buy 1 of them right now. Although they have come down, it still seems quite expensive.

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Re: How soon until Bitcoin crashes?
« Reply #383 on: June 23, 2022, 08:56:54 AM »
I wish articles actually gave more details when they say 'crash' 'collapse' 'soared'. Those Bored Apes currently have a floor of 89 Eth which is ~$99k USD right now (https://opensea.io/collection/boredapeyachtclub). That is the lowest you can buy 1 of them right now. Although they have come down, it still seems quite expensive.

I wouldn't buy one for $99.
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Online morekaos

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Re: How soon until Bitcoin crashes?
« Reply #384 on: June 23, 2022, 09:11:04 AM »
Musk paid one and a half million dollars one of those things. ;D ;D >:D

Elon Musk Is Rumored To Be The Buyer Of A Rare Bored Ape NFT For $1.5 Million

https://www.ibtimes.com/elon-musk-rumored-be-buyer-rare-bored-ape-nft-15-million-3416442

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Re: How soon until Bitcoin crashes?
« Reply #385 on: June 25, 2022, 11:56:06 AM »
It’s why they call it a fad….. ;D ;D >:D

Inside the crypto restaurant after the crypto crash

When Bored & Hungry first opened in Long Beach in April, the burger joint didn’t just embrace the aesthetics of crypto culture. It was all-in on the digital money part too.

Sure, meme-y references to rockets and bulls dotted the walls, and Bored Apes — those cartoon monkeys that celebrities such as Paris Hilton and Post Malone have touted as six-figure investments — covered the cups and trays. But customers were also offered the option to pay for their meals in cryptocurrency. The restaurant was putting its bitcoin where its mouth was, so to speak.

Not even three months later, in the midst of a crypto crash that has some investors looking for the door, that is no longer the case.

https://www.latimes.com/business/technology/story/2022-06-24/this-restaurant-is-crypto-themed-you-still-have-to-pay-in-dollars?fbclid=IwAR0pqevsMlhTLOUVqU8Q8ibn5zb1UNrlycSGlFDUzVKLHXVL4bKZfSEFdGs&fs=e&s=cl

Online morekaos

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Re: How soon until Bitcoin crashes?
« Reply #386 on: July 08, 2022, 08:12:26 AM »
Designed by criminals for criminals….

Embattled crypto lender Celsius is a 'fraud' and 'Ponzi scheme,' lawsuit alleges

Crypto lender Celsius artificially inflated the price of its own digital coin, failed to hedge risk and engaged in activities that amounted to fraud, a lawsuit alleges.
Celsius on Thursday was sued by former investment manager Jason Stone, as pressure continues to mount on the firm amid a crash in cryptocurrency prices.
Stone alleges in the lawsuit that Celsius was running a “Ponzi scheme.”

https://www.cnbc.com/2022/07/08/crypto-lender-celsius-is-a-fraud-and-ponzi-scheme-lawsuit-claims.html?

Offline OCtoSV

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Re: How soon until Bitcoin crashes?
« Reply #387 on: July 08, 2022, 11:03:42 AM »
zero pity for any fool that "invested" in crypto

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Re: How soon until Bitcoin crashes?
« Reply #388 on: July 14, 2022, 01:35:22 PM »
It was only last year that one of the founders of Celsius posted a video mocking Warren Buffett.. D'oh!

Billion-dollar crypto company Celsius collapses in wake of violent market crash

The organization, which built its business off claims that it was less risky than a bank and would provide better returns, will be restructured after it was taken down by the dramatic plunge in the value of cryptocurrency.

https://www.yahoo.com/entertainment/billion-dollar-crypto-company-celsius-112413922.html

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Re: How soon until Bitcoin crashes?
« Reply #389 on: July 14, 2022, 06:52:16 PM »
It was only last year that one of the founders of Celsius posted a video mocking Warren Buffett.. D'oh!

Billion-dollar crypto company Celsius collapses in wake of violent market crash

The organization, which built its business off claims that it was less risky than a bank and would provide better returns, will be restructured after it was taken down by the dramatic plunge in the value of cryptocurrency.

https://www.yahoo.com/entertainment/billion-dollar-crypto-company-celsius-112413922.html

When it sounds too good to be true....you know the rest.
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