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$130B wiped off crypto markets in 24 hours

cnbc.com

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Re: $130B wiped off crypto markets in 24 hours

#41

Post by moneywoes »

rvz wrote: post #22

Magnificent and as expected. We needed a 'crash'. It is what we need to remove all the useless cryptocurrencies and projects that are only there to pump each other bags and exit scam retail investors. This is why you have people telling others to 'HODL' or 'never sell' with wild predictions of BTC going to 100K or DOGE going over $1. [0]. This is nothing. This is before the banning, and crackdowns of the other useles…

How do you see crypto reacting once the fed hikes rates? Shouldn’t btc be deflationary

Re: $130B wiped off crypto markets in 24 hours

#42

Post by scottiebarnes »

dimgl wrote: post #33
323 wrote: post #17

When 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.

USDC = Tether now?

Re: $130B wiped off crypto markets in 24 hours

#43

Post by phpnode »

throwoutway wrote: post #18

Didn’t Tether, during the last precipitous fall, just print more Tethers and prop the house of cards back up? I wonder if that will work again..

Yes, they're busily printing away right now, as are USDC, and it will likely work just as well as before because everyone involved in crypto is incentivised to look the other way in the face of this blatant and massive fraud.

Re: $130B wiped off crypto markets in 24 hours

#44

Post by ulzeraj »

dimgl wrote: post #33
323 wrote: post #17

When 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.

USDC is not Tether

Re: $130B wiped off crypto markets in 24 hours

#45

Post by dimgl »

scottiebarnes wrote: post #42
dimgl wrote: post #33

Earlier quoted context omitted.

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.

USDC = Tether now?

I'm not sure if you're being facetious, but they're both stablecoins and the principles are the same.

Re: $130B wiped off crypto markets in 24 hours

#47

Post by Yizahi »

dimgl wrote: post #33
323 wrote: post #17

When 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.

1.2 billions on Sunday: https://twitter.com/usdcoinprinter/status/148528500117644083...

Probably some institutional investor drove a garbage truck full of unmarked dollars in small denominations to some back alley near Circle headquarters.

Re: $130B wiped off crypto markets in 24 hours

#48

Post by Liron »

skrebbel wrote: post #19

I own no crypto and I think it's a ridiculous piece of hype, but I think all that reporting (and, on twitter, all that schadenfreude) about bitcoin (etc) going down is nonsense. If you look at a 5 year chart of the BTC value, it's still super insane high and it's been going down hard once before (summer 2021). If I were a crypto fan I'd just tweet HODL like every previous time.

Yeah if you’re just looking at the graph trend, you might only start panicking if BTC drops below the previous 2017 cycle’s peak of $19k.

Re: $130B wiped off crypto markets in 24 hours

#50

Post by qazpot »

bla3 wrote: post #36
SeanAnderson wrote: post #13

Earlier quoted context omitted.

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.

> It's not "really" part of FANG in my head

What do you thought the "N" stood for or you thought it was a placeholder so that acronym is not offensive.

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