Posted on 12/30/2022 6:42:40 AM PST by catnipman
It’s been a brutal year for the cryptocurrency market.
In the latest blow to the crypto space, Core Scientific, one of the largest publicly traded crypto mining companies in the U.S, which primarily mints bitcoin, filed for bankruptcy on Dec. 21, citing falling crypto prices and rising energy costs.
And the implosion of FTX, a now-bankrupt crypto trading platform that was once valued at $32 billion, has shattered investors’ confidence as the ripple effects of the company’s collapse continue to spread throughout the crypto industry.
“Many Americans are coming to realize that cryptocurrency is just a speculative mania and the industry is rife with crooks,” James Royal, principal reporter at Bankrate, tells CNBC Make It.
To that point, about 60% of Americans now believe investing in digital currency is highly risky — up from 45% in 2021
Prices are likely to fall further when “traders and crypto companies begin to see that they don’t have an unending stream of marks [greater fools] willing to prop up crypto prices,” Royal says.
(Excerpt) Read more at cnbc.com ...
crypto:
Terra: -100% Solana: -93% AMP: -93% Cardano: -80% Ether: -67% Bitcoin: -63% Dogecoin: -55%
US Dollar: ~ -10%
DOW: -8.5% S&P: -19 NASDAQ: -33
OIL ETFs:
BNO: +60% USO: +50%
Commodity ETFs:
BCI: +13% PDBC +17% DBC: +17%
What's in your wallet?
At least my Beanie Babies are safe!........................
“At least my Beanie Babies are safe!”
indeed ... i have a few unopened Simpson Watches in my safe ... and some other stuff too that won’t be named in public, of course ...
Cabbage Patch Kids, Tab, Fresca, a couple Swatches, and a VHS of Mannequin?…
I have some Thomas Kincade “Painter of Light” paintings.
About 18 months ago Bitcoin was at somewhere around $67,000. Last time I checked...about a month ago...it was around $15,000. Yiles!
Bitcoin is the only one that can’t be inflated into oblivion.
There can only ever be 21,000,000 bitcoins.
20,000,000 have already been minted.
FTX was a Deep State money laundering operation that got exposed long before they thought it would.
Any Bob Ross?…
You gotta be one stoopid sumbich to get in on the tail end of this ponzi scheme.
I used to work in IT, so I somewhat understand "Blockchain", but I still can't grasp how you make something like Bitcoin out of nothing?
I think people are [slowly] beginning to realize "The Emperor Has No Clothes" when it comes to crypto currencies.
You have to use an incredible amount of computer power to solve riddles and then beat the final boss and save the princess. Then you get to mine a bitcoin.
Make perfect sense on what a currency should be based on.
If there is a gold standard among these mythCoins it will be bitcoin and then Ethereum. How much has Ethereum gone down? Because the originator seemed honest and solid and dedicated to the alt coin idea.
Ethereum “coin” is down to a third of what it was 365 days ago
https://www.bing.com/search?q=Ethereum&PC=U316&FORM=CHROMN
Bitcoin down to a third as well. Down from one year ago.
https://www.bing.com/search?q=bitcoin+price&qs=LS&pq=bit&sk=SS1&sc=10-3&cvid=5AB59104F656497CBF2BFEB543C12C03&FORM=QBRE&sp=2
The dollar isn’t what it once was either.
I was going to post that; are our dollars buying 60% less in essentials?
You have the originals?
You can still get non-fungible tokens!
ROTFLOL!
I’ll have to see if my cat is interested ... probably not though ... unless fish treats are involved ...
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