We’ve had some doozys
Posted on 02/05/2026 4:35:45 AM PST by zeestephen
4:35 AM (PST) - $69,300
(Excerpt) Read more at cnbc.com ...
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My Etherium is taking a beating.
I see it in two ways.
E-currency was always a con job, because it tradded real dollars that could be used to buy real world assets for electronic currency with no intrinsic value.
Any large downs of any asset is possibility the big guys manipulating the asset by selling off the asset to spook people into selling out, so the big guys can buy it all back and more at a discounted price.
Gold and silver are also down. Is it just the usual random walk (downs along with ups), or something more?
I ask this out of curiosity only, as I am an S&P 500 guy.
Bitcoin kind of pioneered the crypto industry but it is a bit of a Ponzi scheme
It’s great for speculation but not so good as an alternative monetary system
As alternatives mature bitcoin may drop
Good time to buy the top ones. Not so much the memecoin nonsense. When the economy collapses, no one is going to be scrambling to buy fartcoin
“My Ethereum is taking a beating.”
Ethereum is always more volatile than its big brother Bitcoin. You see the same with silver, the little brother to gold.
We’ve had some doozys
If YOU would like to be on a CRYPTO PING LIST, please pm me.
The Crypto Ping List covers the following:
Bitcoin
Ethereum
Other coins built on the Ethereum blockchain mining
etc.
Thanks! For it - or ag'in it, it'll be a wild ride.
I could have bought it for much less 10 years ago.
The Trump brothers are in the crypto space. There is a Trump token or coin. Plus even better. They are heavily invested in a large crypto mining venture out in Iowa, where wind generated electric is cheap at night. And the grid has cheap excess solar on sunny days.
As seen on you tube.... https://www.youtube.com/shorts/bh2tojfoA5o
There is a technical point around $64k that goes back to October of 2024. The next stop below that is $46k which takes you back to February ‘24.
Based on its past behavior, $60-64 seems like it would be the bottom. But who knows. It seems right now that retail owners are panicking. I think a lot of this has to do with the Clarity Act, which should be settled in the next week or so.
This is a lot more than a “flesh wound.” But its not a shock.
Gold and silver are still way up from its nominal position. I have positions in G&s as well as the market. My position in metals is long-term, if not generational. My stock market position are both short-term and medium-term positions. The point is, I don’t invest and trade metals lock stocks. And, no offense, but I think meme coins are a fools errand that will end up making a select few very wealthy.
I think of Bitcoin as a currency... not an asset. Obviously a lot of people act like it’s an asset I guess if it quacks like a duck?.
The problem with all crypto is that the US government controls the on-ramps. When you buy crypto with your dollar your bank can block the transaction. Many did until a couple of years ago. Now the IRS treats it as currency trading and taxes capital gains when you use it.
On a side note: A lot of the critics made a point about the large amounts of electrical demand to run the data mining centers. Undeniably true. Bitcoin, in particular, relies on “proof of work” to verify transactions and add to the distributed ledger. A-I data centers are going to be orders of magnitude much worse. A lot of responsible people don’t seem to fret over that very much.
There is a finite amount to be mined and we are almost there, so the power issue is almost over.
Rinse and repeat.
From cioinglass
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