Cryptocurrencies Part III - We ran as if to meet the Moon

[PeteWorrell]

Imagine if you did that with the Apple's stock when it was basically worthless and no one would touch it. Being lucky and investing into things because people told you to do it, is not sustainable.

 

[The Crypto Guy]

Imagine if you did that with the Apple's stock when it was basically worthless and no one would touch it. Being lucky and investing into things because people told you to do it, is not sustainable.

Doing your own research is highly recommended.

 

[x Tame Impala]

Doing your own research is highly recommended.

People were doing tons of “their own research” in 2020 when crypto started skyrocketing. It still led to a lot of people losing money and the market hasn’t recovered since last year.

Congratulations on getting in when you did.

 

[The Crypto Guy]

People were doing tons of “their own research” in 2020 when crypto started skyrocketing. It still led to a lot of people losing money and the market hasn’t recovered since last year.

Congratulations on getting in when you did.

I've been preaching Ethereum for quite some time here, had people bought Ether in 2020 they would have 6x-7x their initial investment right now, even in this bear market.

If people bought all those shit coins that were being hyped all over the place that had terrible fundamentals, then yea, you probably lost money.

Bitcoin or Ethereum, that's it. Only 2 you should invest in if you want to invest in Crypto. The safest two.

 

[x Tame Impala]

I've been preaching Ethereum for quite some time here, had people bought Ether in 2020 they would have 6x-7x their initial investment right now, even in this bear market.

If people bought all those shit coins that were being hyped all over the place that had terrible fundamentals, then yea, you probably lost money.

Bitcoin or Ethereum, that's it. Only 2 you should invest in if you want to invest in Crypto. The safest two.

Cardano was an intriguing one as well. They weren’t all shit coins in the “Dogecoin” vein. Some of them seemed to have legitimate use cases. They just never panned out

 

[The Crypto Guy]

Cardano was an intriguing one as well. They weren’t all shit coins in the “Dogecoin” vein. Some of them seemed to have legitimate use cases. They just never panned out

There was a lot of intriguing projects, but none of them really panned out. Doesnt help that Cardano has a complete buffoon at the top who looks like he is broadcasting from his mothers basement.

And I have a decent chunk of Cardano but i’m not holding my breath anymore of it going anywhere.

 

[Club]

Highly recommend.

 

[beowulf]

Such an amazing businessman...genius I tell you...how anyone would want this guy leading their company right now is beyond me.

Tesla Lost $140 Million on Elon Musk’s Bitcoin Bet Last Year

Elon Musk's car maker revealed it lost $ 204 million in “impairment losses” on bitcoin last year and managed to recoup just $64 million through trading.

gizmodo.com

Tesla’s big, bold billion-and-a-half-dollar bet on bitcoin’s “long-term-potential” is starting to look more and more like a dud. The company, at the behest of CEO Elon Musk, purchased $1.5 billion worth of the cryptocurrency back in February. Now, according to new fillings with the SEC, the company says it walked away with $140 million in bitcoin losses in 2022, nearly 10% down. It seems not even the world’s most valuable car company can escape the effects of last year’s grueling crypto winter.

 

[The Crypto Guy]

Such an amazing businessman...genius I tell you...how anyone would want this guy leading their company right now is beyond me.

Tesla Lost $140 Million on Elon Musk’s Bitcoin Bet Last Year

Elon Musk's car maker revealed it lost $ 204 million in “impairment losses” on bitcoin last year and managed to recoup just $64 million through trading.

gizmodo.com

Tesla’s big, bold billion-and-a-half-dollar bet on bitcoin’s “long-term-potential” is starting to look more and more like a dud. The company, at the behest of CEO Elon Musk, purchased $1.5 billion worth of the cryptocurrency back in February. Now, according to new fillings with the SEC, the company says it walked away with $140 million in bitcoin losses in 2022, nearly 10% down. It seems not even the world’s most valuable car company can escape the effects of last year’s grueling crypto winter.

140M? That’s a drop in a bucket for him and Telsa, he’s worth almost 200B, and Telsa 600B lmao.

But you were right he is an amazing businessman whether you want to admit that or not.

 

[beowulf]

140M? That’s a drop in a bucket for him and Telsa, he’s worth almost 200B, and Telsa 600B lmao.

ohhh god that makes it totally ok when you are playing with shareholders money. He is worth $178B at the moment but a huge chuck of his worth is in Tesla shares and options, he owns about 25% of the company but more than half of that is being used to secure his massive debts. And Tesla is only worth that much at the moment thanks to some giant gains in January, let's see if it holds. The company is not as solid as it once was as other car makers are catching up and surpassing them in the EV market. The only reason they saw a stock surge is due to huge cuts in the prices of their cars which hurts the bottom line in the end. This is a company that even after all these years, puts out substandard vehicles with low initial quality and makes a net profit not only because of regulatory credits it sells to other automakers. Without those the company would have gone busts long ago.

So ya, Musk is not the business genius that fanboys like yourself like to make him out to be.

 

[The Crypto Guy]

ohhh god that makes it totally ok when you are playing with shareholders money. He is worth $178B at the moment but a huge chuck of his worth is in Tesla shares and options, he owns about 25% of the company but more than half of that is being used to secure his massive debts. And Tesla is only worth that much at the moment thanks to some giant gains in January, let's see if it holds. The company is not as solid as it once was as other car makers are catching up and surpassing them in the EV market. The only reason they saw a stock surge is due to huge cuts in the prices of their cars which hurts the bottom line in the end. This is a company that even after all these years, puts out substandard vehicles with low initial quality and makes a net profit not only because of regulatory credits it sells to other automakers. Without those the company would have gone busts long ago.

So ya, Musk is not the business genius that fanboys like yourself like to make him out to be.

He is but you don’t have to admit it. Jealously is a terrible look on you

 

[Jussi]

ohhh god that makes it totally ok when you are playing with shareholders money. He is worth $178B at the moment but a huge chuck of his worth is in Tesla shares and options, he owns about 25% of the company but more than half of that is being used to secure his massive debts. And Tesla is only worth that much at the moment thanks to some giant gains in January, let's see if it holds. The company is not as solid as it once was as other car makers are catching up and surpassing them in the EV market. The only reason they saw a stock surge is due to huge cuts in the prices of their cars which hurts the bottom line in the end. This is a company that even after all these years, puts out substandard vehicles with low initial quality and makes a net profit not only because of regulatory credits it sells to other automakers. Without those the company would have gone busts long ago.

So ya, Musk is not the business genius that fanboys like yourself like to make him out to be.

Plus everything he's doing with twitter is dropping his reputation as a "smart businessman".

 

[beowulf]

He is but you don’t have to admit it. Jealously is a terrible look on you

If he only was a good at anything other than making kids with random women, he is at Trump level as a businessman and also as a conman. There was a time 7-8 years ago I didn't mind him and liked the idea of moving towards electric vehicles etc. But I have learned far too much about him since then, his terrible business practices and how he is just a bad human being and I lost any respect I had for him.

 

[Non Player Canadiens]

hey just checking in, is crypto dead?

 

[PeteWorrell]

hey just checking in, is crypto dead?

Considering that people are being scammed left and right because they fall for get rick quick schemes; i would say it's very much alive in that aspect.

 

[The Crypto Guy]

Considering that people are being scammed left and right because they fall for get rick quick schemes; i would say it's very much alive in that aspect.

Because that was never around before Crypto.

 

[The Crypto Guy]

Ethereum at an 8 month high

Next big update goes live on the blockchain in a week. People can start to unstake their ether if they staked it. Going to be a lot of activity on there next week!

 

[SuperScript29]

hey just checking in, is crypto dead?

For the time being? Yes, but it has been dead before and it keeps resurrecting. You probably won't notice much crypto talk until the next true bull run where everyone will be burning their money and wondering why they didn't buy their crypto when everything was dead.

 

[The Crypto Guy]

For the time being? Yes, but it has been dead before and it keeps resurrecting. You probably won't notice much crypto talk until the next true bull run where everyone will be burning their money and wondering why they didn't buy their crypto when everything was dead.

Crypto is FAR from dead.

 

[The Crypto Guy]

Ethereum's big update was a complete success again yesterday and the price hits $2,000!

 

[SuperScript29]

Crypto is FAR from dead.

Like I said, it has been dead multiple times, but there will be another bull-run where Bitcoin may very well exceed 100k+ and everyone else will follow. This is when Crypto will be hot again.

The problem is even if the major cryptos hit these big gains, you still need a lot of money to invest if you want to have a decent return. For example throwing 10k at Bitcoin now will probably net you around 30k-40k in the next bull-run (Assuming it happens). That's nice and all, but it's a lot of money to risk for the average person. If the money allocated is less than 10k and you don't have an issue losing it, then it's a good idea to gamble it at projects that are not popular and have very low market cap.

 

[HanSolo]

Like I said, it has been dead multiple times, but there will be another bull-run where Bitcoin may very well exceed 100k+ and everyone else will follow. This is when Crypto will be hot again.

The problem is even if the major cryptos hit these big gains, you still need a lot of money to invest if you want to have a decent return. For example throwing 10k at Bitcoin now will probably net you around 30k-40k in the next bull-run (Assuming it happens). That's nice and all, but it's a lot of money to risk for the average person. If the money allocated is less than 10k and you don't have an issue losing it, then it's a good idea to gamble it at projects that are not popular and have very low market cap.

What you don't have 100k in entry capital?

 

[The Crypto Guy]

Like I said, it has been dead multiple times, but there will be another bull-run where Bitcoin may very well exceed 100k+ and everyone else will follow. This is when Crypto will be hot again.

The problem is even if the major cryptos hit these big gains, you still need a lot of money to invest if you want to have a decent return. For example throwing 10k at Bitcoin now will probably net you around 30k-40k in the next bull-run (Assuming it happens). That's nice and all, but it's a lot of money to risk for the average person. If the money allocated is less than 10k and you don't have an issue losing it, then it's a good idea to gamble it at projects that are not popular and have very low market cap.

Sure, the entry point to make huge money has long passed, when the prices were low, myself and others tried to get people on board and convince them it was a great buying opportunity but they were scared(or ignorant and didn't understand it, they just assume all Crypto is a pyramid scheme). Now they can still get on board but yea they will never multiply their money as they could have. Ether and Bitcoin, that's it, I wouldn't trust anything else even close to those 2.

 

[SuperScript29]

Sure, the entry point to make huge money has long passed, when the prices were low, myself and others tried to get people on board and convince them it was a great buying opportunity but they were scared(or ignorant and didn't understand it, they just assume all Crypto is a pyramid scheme). Now they can still get on board but yea they will never multiply their money as they could have. Ether and Bitcoin, that's it, I wouldn't trust anything else even close to those 2.

To be fair, there was a time where Bitcoin and ETH were also gambles. Afterall this is something new to most people, though I'd say the cat is out of the bag so to speak.

The way things are looking, it's very possible that we're entering the next bull-run. Seems like every 3 years or so it happens (Last two being 2017/18 and 2021). Probably a good time to gamble.

 

[Jussi]