Okay? And 1.5 trillion was wiped off of the US equity market.
US equity doesn't pretend to be a low risk investment vehicle resistant to inflation worries.
Except it does
$130B wiped off crypto markets in 24 hours
31–40 of 382 posts
Re: $130B wiped off crypto markets in 24 hours
#32I can’t stop thinking about the points Daniel Schmachtenberger https://www.youtube.com/watch?v=p4NlLuNj0v8 made in this pod cast. TLDL: after WWII we setup this system of no more global wars BUT exponential growth and the system self terminates in 2024. So the panic is getting very real now.
Re: $130B wiped off crypto markets in 24 hours
#33When price goes up, the conspiracy theory is that it's all fake, because it's just Tether printing. So where is the Tether printing now? Since everybody agrees that Tether is unbacked and their printer can go brrr at will, why don't they just print more billions to prop the market up?
It's there. It continues to happen almost hourly. https://twitter.com/whale_alert
https://twitter.com/usdcoinprinter
Two hours ago $100m USDC went into circulation. Almost another $100m two hours before that.
Re: $130B wiped off crypto markets in 24 hours
#34Earlier quoted context omitted.
I looked at my 401k and it wasn't pretty.
Are you making leveraged trades in a retirement account? It's off 9%. If someone told you you'd have to make do with only 91% of your planned income, you'd be OK. This is what markets do.
Thoughts on a TMF and UPRO portfolio? Better sharpe ratio than 60/40 stocks index
Re: $130B wiped off crypto markets in 24 hours
#35When price goes up, the conspiracy theory is that it's all fake, because it's just Tether printing. So where is the Tether printing now? Since everybody agrees that Tether is unbacked and their printer can go brrr at will, why don't they just print more billions to prop the market up?
People who got in early have $billions of BTC that they’d love to liquidate at current market prices if they could cajole enough USD buyers to cash them out without crashing the price. The ideal manipulation is to keep the price somewhere in the current range, not to pump it too high where normal suckers start thinking about selling.
Another manipulation strategy is taking the price lower, collecting USD by having a bunch of suckers buy leveraged shorts, then manipulating the price up to wipe them out.
Re: $130B wiped off crypto markets in 24 hours
#36Earlier quoted context omitted.
Over the last month: VTSAX is down 9%, AMZN (hardest-hit Big 5) is down 16%, BTC is down 34%.
Netflix is down 35%, not sure why Google would be seen as the hardest-hit FAANG.
My bad, didn't check Netflix. It's not "really" part of FANG in my head, I suppose. Edited my comment to say "Big 5" instead.
Re: $130B wiped off crypto markets in 24 hours
#37Why? Did something happen that I missed? Is this in reaction to Russia's proposed ban on crypto?
I imagine the correlation between stock owners and btc is high
Re: $130B wiped off crypto markets in 24 hours
#38USDC totally "audited" printing press is going full tilt to save the day. Paolo and Giancarlo are a little bit late to the party, maybe scared by ongoing investigations and biding time for now.
Re: $130B wiped off crypto markets in 24 hours
#39When price goes up, the conspiracy theory is that it's all fake, because it's just Tether printing. So where is the Tether printing now? Since everybody agrees that Tether is unbacked and their printer can go brrr at will, why don't they just print more billions to prop the market up?
There's no point in having the ability to manipulate BTC and using it to keep it stable. Pump and dump.
Re: $130B wiped off crypto markets in 24 hours
#40Earlier quoted context omitted.
All the markets are down to be honest and these swings are so common in crypto that while it makes a good headline its nothing new.
Because crypto is a stable asset to put your money into
I haven't made this claim? I don't know what you wanted add with this snark to the discussion, I don't even own any crypto assets myself.