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Ask HN: Is anyone else glad the crypto market is crashing?

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41–50 of 670 posts

Re: Ask HN: Is anyone else glad the crypto market is crashing?

#41

I'm glad that a long overdue reality check is coming. But I'm incredibly sad that many, many small fish will lose their entire life's savings in the hours and days and weeks ahead. I've already seen random social media postings of attempted suicides, or talk of it. We will lose actual human beings in this. And, what's worse, is that the real grifters and crooks will walk away clean once again. There isn't enough time…

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Re: Ask HN: Is anyone else glad the crypto market is crashing?

#42

It's less that I'm glad the market is crashing, and more that I'm glad that the insufferable crypto bros are finally getting a punch to the mouth. Seriously, these people are the worst. Your average "crypto investor" has no skills, no mathematical foundations, nothing. Except for pure stupid luck, and the ability to spew inane crypto babble 24/7. And yes, they think they are much smarter than you, because they achiev…

Hey man. Hope things get better for you.

The crypto stuff is just another bubble, sticking to fundamentals will still lead you to (well earned) success. Bubbles come and go, skills and financial acumen are forever.

Re: Ask HN: Is anyone else glad the crypto market is crashing?

#43

I hope it ALL goes away. I completely hate this space with every vested bone in my body. Even if it takes a huge recession to wipe these cryptobros and casino tokens out, I would be glad. Obviously would not like the collateral damage that this inflicts on all these so called small 'crypto investors' but as long as this triggers tight regulations to make these tokens, illegal, unusable and banned completely as to mak…

In biblical times, God became angry at all the douchebags in the world so he caused a giant flood to kill everyone (except for Noah, who was a mensch apparently.)

Spoiler alert: it didn't work. There are now more douchebags than ever before.

Re: Ask HN: Is anyone else glad the crypto market is crashing?

#44

Lol, I don't think it's a crash. It's probably most likely 2 or 3 whales that have colluded on a correction and re-purchase strategy. I mean I just don't trust any of it any more. It's more or less completely unregulated (not that the regulated market isn't manipulated too)

I don't really believe in any collusion. They are still buying tokens which price isn't really tied anything else than future growth... New money must come from somewhere. So who is going to pump it for next round?

Re: Ask HN: Is anyone else glad the crypto market is crashing?

#45
I'm not sure. If it all goes to zero, then I'm out $40K in various coins and $5K in $COIN. That was my FOMO limit, and given how skeptical I am of many of the claims it will have been an education.

I find Bitcoin itself to be interesting, so I intend to hold as I suspect a crash will come with regulations. Regulations may be the thing to save it in a way, but who knows.

Re: Ask HN: Is anyone else glad the crypto market is crashing?

#46

It's less that I'm glad the market is crashing, and more that I'm glad that the insufferable crypto bros are finally getting a punch to the mouth. Seriously, these people are the worst. Your average "crypto investor" has no skills, no mathematical foundations, nothing. Except for pure stupid luck, and the ability to spew inane crypto babble 24/7. And yes, they think they are much smarter than you, because they achiev…

I'm not disagreeing with you but I don't think this is healthy. This shouldn't be eating you from the inside.

"What good is envy? It’s the one sin you can’t have any fun at." - Charlie Munger

Re: Ask HN: Is anyone else glad the crypto market is crashing?

#49
If you're convinced that cryptocurrencies are useless and a terrible idea in general, you would expect them to inevitably crash at some point anyway. And if you assume that it's reasonable to hope that they crash sooner rather than later, as the consequences will be lower.

Re: Ask HN: Is anyone else glad the crypto market is crashing?

#50

It's less that I'm glad the market is crashing, and more that I'm glad that the insufferable crypto bros are finally getting a punch to the mouth. Seriously, these people are the worst. Your average "crypto investor" has no skills, no mathematical foundations, nothing. Except for pure stupid luck, and the ability to spew inane crypto babble 24/7. And yes, they think they are much smarter than you, because they achiev…

I'm not gloating just yet. If you bought Bitcoin at literally any other time than the two peaks that have occurred over the last year, then you're still way, way, way up. Bitcoin was last at its current price between those two peaks, a little less than one year ago. Of course, NFTs and all that were just so obviously nonsense that I don't even think it's worth commenting on.
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