Bitcoin, Cryptocurrency, and the Future of Global Finance

#1,801
#1,801
utvols88 said:
I know we are entering a bear mentality in all of these spaces but what the heck is going on in crypto?

#BuyHighSellLow
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Historic repeating .5% Interest rate increases bringing all asset prices down after the historically low covid interest rates. Starting with crypto and growth/ tech stocks. Also USDT stablecoin has completely imploded and lost its $1 peg so it’s a complete disaster.
 
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#1,807
#1,807
Big Orange#1 said:
Holy crap Crypto 🤯
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Yeah, LUNA and USDT took a major hit. Believe it was being tested/tampered with by whales (black rock) who made this happen for their own benefit and to force more regulation. Crushed a lot of people though who had their savings in it. Crypto is a gamble in so many ways. Could turn out huge for those who buy and hold though.

No doubt in my mind the World Economic Forum and Black Rock want crypto controlled in order to make way for the Great Reset through Central Bank Digital Currency (CBDC). They have a strong desire to completely control the economic landscape of the world and to establish the New World Order and they can't do that unless they can regulate things like Bitcoin and crypto. They must have the world on a fiat reserve currency (what we have now) but with CBDC to meet their goal. Bitcoin stands in the way.

Everything I just said sounds insane. And that's what is scary, it's all true. It's not even a secret. They are openly telling us what they want to do.

Some form of crypto is the future whether that's Bitcoin or CBDCs. The difference is that Bitcoin is freedom and CBDCs are the Fiat currency that totalitarian regimes dream for.

It's interesting how everything I just said will go over the majority of people's heads. We are the wealthiest nation in history yet the financial literacy of the average American is practically nothing. We have the reigns in our hands to take back true monetary power for the little guy, yet we are too ignorant and comfortable to even try.

If you want to begin to understand the current state we are in look up Bretton Woods agreement, Nixon, Gold standard, Federal Reserve and just start there.

I know I sound like a crazy person but I could talk about this stuff all day.
 
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#1,808
#1,808
Big Orange#1 said:
Historic repeating .5% Interest rate increases bringing all asset prices down after the historically low covid interest rates. Starting with crypto and growth/ tech stocks. Also USDT stablecoin has completely imploded and lost its $1 peg so it’s a complete disaster.
Click to expand...
Usdt losing its peg is concerning for sure. I have only $60 of my own money in crypto that changed to about 5k through p2es and other plays so I'm still largely in the green. Probably at about 2.5k now. But they are in assets that are valued through eth. So I'm just gonna chill for now.
 
#1,809
#1,809
De La Cloobs said:
Yeah, LUNA and USDT took a major hit. Believe it was being tested/tampered with by whales (black rock) who made this happen for their own benefit and to force more regulation. Crushed a lot of people though who had their savings in it. Crypto is a gamble in so many ways. Could turn out huge for those who buy and hold though.

No doubt in my mind the World Economic Forum and Black Rock want crypto controlled in order to make way for the Great Reset through Central Bank Digital Currency (CBDC). They have a strong desire to completely control the economic landscape of the world and to establish the New World Order and they can't do that unless they can regulate things like Bitcoin and crypto. They must have the world on a fiat reserve currency (what we have now) but with CBDC to meet their goal. Bitcoin stands in the way.

Everything I just said sounds insane. And that's what is scary, it's all true. It's not even a secret. They are openly telling us what they want to do.

Some form of crypto is the future whether that's Bitcoin or CBDCs. The difference is that Bitcoin is freedom and CBDCs are the Fiat currency that totalitarian regimes dream for.

It's interesting how everything I just said will go over the majority of people's heads. We are the wealthiest nation in history yet the financial literacy of the average American is practically nothing. We have the reigns in our hands to take back true monetary power for the little guy, yet we are too ignorant and comfortable to even try.

If you want to begin to understand the current state we are in look up Bretton Woods agreement, Nixon, Gold standard, Federal Reserve and just start there.

I know I sound like a crazy person but I could talk about this stuff all day.
Click to expand...
Yup. It's glaringly obvious. We need to be smart on making sure leaders aren't connected to WEF. Trudeau
 
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#1,810
#1,810
De La Cloobs said:
Yeah, LUNA and USDT took a major hit. Believe it was being tested/tampered with by whales (black rock) who made this happen for their own benefit and to force more regulation. Crushed a lot of people though who had their savings in it. Crypto is a gamble in so many ways. Could turn out huge for those who buy and hold though.

No doubt in my mind the World Economic Forum and Black Rock want crypto controlled in order to make way for the Great Reset through Central Bank Digital Currency (CBDC). They have a strong desire to completely control the economic landscape of the world and to establish the New World Order and they can't do that unless they can regulate things like Bitcoin and crypto. They must have the world on a fiat reserve currency (what we have now) but with CBDC to meet their goal. Bitcoin stands in the way.

Everything I just said sounds insane. And that's what is scary, it's all true. It's not even a secret. They are openly telling us what they want to do.

Some form of crypto is the future whether that's Bitcoin or CBDCs. The difference is that Bitcoin is freedom and CBDCs are the Fiat currency that totalitarian regimes dream for.

It's interesting how everything I just said will go over the majority of people's heads. We are the wealthiest nation in history yet the financial literacy of the average American is practically nothing. We have the reigns in our hands to take back true monetary power for the little guy, yet we are too ignorant and comfortable to even try.

If you want to begin to understand the current state we are in look up Bretton Woods agreement, Nixon, Gold standard, Federal Reserve and just start there.

I know I sound like a crazy person but I could talk about this stuff all day.
Click to expand...
It went right over my head that is alarming to me.
 
#1,814
#1,814
For those who don't know, Terra suffered a catastrophic event this week which sent shockwaves throughout the crypto world. I got cliff's notes on what the public thinks happened.

A huge player (some think Citadel) borrowed 100k BTC, taking a short position on it and used those tokens to buy UST (an algorithmic stable coin* on Terra). This player then started selling off all of the UST rapidly. This started a run on investors selling off their UST. To prevent UST from dropping in price (because you can't let a stable coin get down to $0.98, much less $0.60), Terra's fund started selling off all the bitcoin it held to buy UST and keep the price up. Terra held so much bitcoin that selling it off majorly affected the price of BTC. Whomever took the short position on BTC could cash out now and win big, but word is they have not yet done that. Luna has lost tens of billions in assets and I've heard rumors of suicides among investors.

Takeaways:

- Terra broke a general rule of thumb that a platform shouldn't hold huge amounts of non-native tokens on their platform. This scheme doesn't work if they aren't holding huge sums of BTC.
- Probably wise to stay away from algorithmic stable coins.
- Watch out for staking funds that promise too much. In order to get people on their platform, Luna was offering unrealistic returns for staking (20%) on their Anchor protocol, which made them vulnerable.
- I've mentioned this before, but in theory, because it is also proof of stake, you could attack Ethereum sort of like this (51% attack), but it would take a major government to have the battle chest to execute it. Citadel has nowhere near the funds to try to pull something like this off on their network because they don't have the same vulnerabilities. This is one of many reasons I've been bullish on ETH.

*Not to be confused with real stable coins, like USDC, which are actually backed by cash.
 
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#1,815
#1,815
n_huffhines said:
For those who don't know, Terra suffered a catastrophic event this week which sent shockwaves throughout the crypto world. I got cliff's notes on what the public thinks happened.

A huge player (some think Citadel) borrowed 100k BTC, taking a short position on it and used those tokens to buy UST (an algorithmic stable coin* on Terra). This player then started selling off all of the UST rapidly. This started a run on investors selling off their UST. To prevent UST from dropping in price (because you can't let a stable coin get down to $0.98, much less $0.60), Terra's fund started selling off all the bitcoin it held to buy UST and keep the price up. Terra held so much bitcoin that selling it off majorly affected the price of BTC. Whomever took the short position on BTC could cash out now and win big, but word is they have not yet done that. Luna has lost tens of billions in assets and I've heard rumors of suicides among investors.

Takeaways:

- Terra broke a general rule of thumb that a platform shouldn't hold huge amounts of non-native tokens on their platform. This scheme doesn't work if they aren't holding huge sums of BTC.
- Probably wise to stay away from algorithmic stable coins.
- Watch out for staking funds that promise too much. In order to get people on their platform, Luna was offering unrealistic returns for staking (20%) on their Anchor protocol, which made them vulnerable.
- I've mentioned this before, but in theory, because it is also proof of stake, you could attack Ethereum like this, but it would take a major government to have the battle chest to execute it. Citadel has nowhere near the funds to try to pull something like this off on their network. This is one of many reasons I've been bullish on ETH.

*Not to be confused with real stable coins, like USDC, which are actually backed by cash.
Click to expand...
Algorithm stable coins are subject to be manipulated and it was, bigly. I didn't have luna (thank God) and feel sorry for the ones that did.
 
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#1,816
#1,816
Wait until Tether USDT has it's come to Jesus moment. That will be the mother of all buy opportunities when that crash hits. BTC will be hit hard!!!
 
#1,819
#1,819
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