crypto interest

Isn't the stock market down like 20% too? We are heading for a recession I think.

Re crypto it's going to get worse to be honest. Question is which coins will survive this year. I think post war/recession crypto will bounce back but they'll definitely be some people caught up in this storm.
 
bugsyblue said:
Isn't the stock market down like 20% too? We are heading for a recession I think.

Re crypto it's going to get worse to be honest. Question is which coins will survive this year. I think post war/recession crypto will bounce back but they'll definitely be some people caught up in this storm.
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Given the scale of recent losses and the fact crypto doesn't really work in a high interest rate environment I don't see any reason for a bounce back. Lots of investors will have burnt fingers. And other assets can counter inflation in a way that crypto can't, banks will start paying interest out crypto generally doest. The crypto that does claim to pay interest is the highest risk / most volatile.
 
Gaudion M said:
Given the scale of recent losses and the fact crypto doesn't really work in a high interest rate environment I don't see any reason for a bounce back. Lots of investors will have burnt fingers. And other assets can counter inflation in a way that crypto can't, banks will start paying interest out crypto generally doest. The crypto that does claim to pay interest is the highest risk / most volatile.
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But the volatility is it's USP? I would imagine most people involved in crypto, certainly the big players, aren't in for a nice 5% yearly gain. Equally it's a crowded market at the moment will lots of options and a crash will hurt certain coins hard, don't get me wrong, but I disagree it won't bounce back. You have to remember crypto was borne out of the 2008 crash. It's still incredibly new and the technology, usage, and appeal will only increase IMO.

Ether alone will have a bounce when he launches 2.0.
 
Good job Polkadot are paying 12% interest, makes up for losing 86% of value since November.

But it's okay as the interest is insane, despite a 1920s level of blind investing it'll be fine.
 
Gaudion M said:
Given the scale of recent losses and the fact crypto doesn't really work in a high interest rate environment I don't see any reason for a bounce back. Lots of investors will have burnt fingers. And other assets can counter inflation in a way that crypto can't, banks will start paying interest out crypto generally doest. The crypto that does claim to pay interest is the highest risk / most volatile.
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You could have said similar in 2014 or 2018. Bitcoin fell 85% from all time highs in 2018. If it did the same again it could go as low as $10k.

Ethereum falls even more in percentage terms and has recovered.
 
Wafty Cranker said:
You could have said similar in 2014 or 2018. Bitcoin fell 85% from all time highs in 2018. If it did the same again it could go as low as $10k.

Ethereum falls even more in percentage terms and has recovered.
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The cost of electricity coupled with the low price of Bitcoin must mean miners rewards are terrible right now, could be running at a loss.
 
Scottyboi said:
The cost of electricity coupled with the low price of Bitcoin must mean miners rewards are terrible right now, could be running at a loss.
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Yeah, they will be running at a loss at these prices. They were in 2018 too. Only difference this time round is you don’t have all the cheaper Chinese miners.
 
I bought some LUNC back in July. Not much but I do feel it's going to be something great long term. Feel like that coin is a great little hobby at the moment. Obviously I wouldn't risk a ton of cash on it but do feel it has a great community supporting it this time
 
Another exchange goes bust. (FTX)

Hope no ‘mooners are harmed.

Advice: if you have funds on one of these shitty, poorly regulated exchanges, cash in and stick it in an index ETF of a decent, FCA regulated platform like H.L.

You won’t double your money in 6 months, but you’ll never lose it all either.
 
SWP's back said:
Another exchange goes bust. (FTX)

Hope no ‘mooners are harmed.

Advice: if you have funds on one of these shitty, poorly regulated exchanges, cash in and stick it in an index ETF of a decent, FCA regulated platform like H.L.

You won’t double your money in 6 months, but you’ll never lose it all either.
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All caused by the ceo of both Binance and Ftx having a twitter spat, unregulated scumbags just lost people a lot of money.
 
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