Over $19 billion liquidated in worst crypto crash since COVID

[CrusaderFrank]

Crypto had the worst market crash yesterday since 2020. Every time Trump opens his mouth about tariffs, he sends the markets crashing down. In the case of yesterday's crash, a crypto "whale" took a multi-million dollar short position in Bitcoin, which has seen a stable price for several months now, almost immediately before Trump's tariffs proclamation. Impeccable timing. People should really start looking into who is profiting off of these events.

MSN

Sounds like shorting airline stocks on 9/10

 

[MisterBeale]

I admit that I have little understanding of crypto. My understanding has been that there is a limited number of any of the various crypto coins and there will never be any more. However, that doesn't settle with the fact that there are crypto mining operations in non descript buildings around the world that are using massive amounts of energy in the attempt to "mine" more. That's a contradiction. Also, beyond people investing in this "nothingness" there is no value basis. There is also no regulating agency to maintain its legitimacy as evidenced by the numerous crypto currencies that have come and gone. I am not trying to be argumentative--I truly would like to gain some understanding as I haven't gotten any logical answers.

When the energy cost of creating new coins is greater than the value of the coin, the mining will stop.

The coins become harder and harder to create with the creation of each new coin. It is a diminishing return sort of thing.

 

[CrusaderFrank]

I admit that I have little understanding of crypto. My understanding has been that there is a limited number of any of the various crypto coins and there will never be any more. However, that doesn't settle with the fact that there are crypto mining operations in non descript buildings around the world that are using massive amounts of energy in the attempt to "mine" more. That's a contradiction. Also, beyond people investing in this "nothingness" there is no value basis. There is also no regulating agency to maintain its legitimacy as evidenced by the numerous crypto currencies that have come and gone. I am not trying to be argumentative--I truly would like to gain some understanding as I haven't gotten any logical answers.

If you need a regulatory agency to determine value and legitimacy, well, that can only mean it’s over regulated

 

[Concerned American]

When the energy cost of creating new coins is greater than the value of the coin, the mining will stop.

The coins become harder and harder to create with the creation of each new coin. It is a diminishing return sort of thing.

Thanks. Your last paragraph is what causes my concern. I have an aversion to investing in that which I can make no sense of, so I guess I'll just keep on in my bliss. LOL

 

[1srelluc]

Meh, too many solid companies to invest in to mess with that stuff.

I'll be the first to admit I don't understand it much but from what i do know it seems rife with potential security risks and fraud.

 

[Concerned American]

You if need a regulatory agency to determine value and legitimacy, well, that can only mean it’s over regulated

Sure, kind of like the nobility of the middle ages telling the serfs that their pittances only have the value that the nobility assigns to them. Who is the crypto nobility? I'm really not trying to be dismissive, I just am not getting any logical sense from this.

 

[Concerned American]

Meh, too many solid companies to invest in to mess with that stuff.

I'll be the first to admit I don't understand it much but from what i do know it seems rife with potential security risks and fraud.

Thank you. You just summed up my take as well.

 

[MisterBeale]

You if need a regulatory agency to determine value and legitimacy, well, that can only mean it’s over regulated

I funded my lifestyle from Bitcoin, not Telegram: Pavel Durov

Pavel Durov said he purchased thousands of Bitcoin in 2013, which has helped him “stay afloat” over the past nearly 12 years.

cointelegraph.com

 

[CrazyTrader55]

Crypto had the worst market crash yesterday since 2020. Every time Trump opens his mouth about tariffs, he sends the markets crashing down. In the case of yesterday's crash, a crypto "whale" took a multi-million dollar short position in Bitcoin, which has seen a stable price for several months now, almost immediately before Trump's tariffs proclamation. Impeccable timing. People should really start looking into who is profiting off of these events.

MSN

Before they do that, they ought to look into how Nancy Pelosi became a gazillionaire.

 

[1srelluc]

Before they do that, they ought to look into how Nancy Pelosi became a gazillionaire.

Was Michael Burry involved in the short?

LOL....I love that movie!

 

[Dont Taz Me Bro]

A bit of an oversimplification. The US dollar is based on the historical GDP of the US workforce.

$37 trillion in debt and an over 95% devaluation in the last 100 years says otherwise.

 

[Concerned American]

$37 trillion in debt and an over 95% devaluation in the last 100 years says otherwise.

I get it and I think the magnitude of the devaluation over the past 40 years are greater that the previous 210 years combined.

 

[Dont Taz Me Bro]

 

[1srelluc]

Like I suspected, the whole thing is rife with fraud.

Doesn't that happen every now and again with crypto?

 

[Tommy Tainant]

That is obvious.

Crypto is a system where gangsters and terrorists can move money secretly around the world.

 

[Blaster]

Crypto is a system where gangsters and terrorists can move money secretly around the world.

You really are stupid.

 

[citygator]

Looks fine to me.

 

[Concerned American]

You really are stupid.

I don't disagree with your take on Taint, but I really would like to hear some well-thought out responses to the concerns that I have raised. The childish retorts aren't helping me to believe you have a logical investor in mind.

 

[Blaster]

I don't disagree with your take on Taint, but I really would like to hear some well-thought out responses to the concerns that I have raised. The childish retorts aren't helping me to believe you have a logical investor in mind.

I never publicize my investment strategy.

 

[Concerned American]

I never publicize my investment strategy.

I didn't ask for strategy. I asked for some insight to concerns about crypto and you have avoided any productive response opting for junior high school retorts.