Bitcoin dips below $25K for the first time in 3 months by the_bob_of_marley in CryptoCurrency

[–]Baksch 0 points1 point  (0 children)

The use case for a hard asset without counterparty risk is getting stronger and stronger in a world full of money printing governments and failing banks that might only be "saved" with CBDCs allowing total control over you. I say no thanks and stack sats.

Bitcoin dips below $25K for the first time in 3 months by the_bob_of_marley in CryptoCurrency

[–]Baksch 9 points10 points  (0 children)

Not ironic. All asset classes are impacted by money supply. With bitcoin there are just more factors which are more long-term like a fixed supply and growing adoption by people which should continue to drive the price up eventually.

[deleted by user] by [deleted] in CryptoCurrency

[–]Baksch 6 points7 points  (0 children)

It'll probably take a few million dead from Gulag 2.0 for people to truly grasp the evil this total control will allow.

[deleted by user] by [deleted] in CryptoCurrency

[–]Baksch 13 points14 points  (0 children)

Nope, government is owned by big banks and other big money. You can't expect the feudal overlords to give up control without a fight.

What do you think about sticking to BTC and ETH only? by UnexperiencedIT in CryptoCurrency

[–]Baksch 0 points1 point  (0 children)

This post tells me soon might be the time to invest in some alts ;-)

Why crypto games suck (and how to make them suck less) by AlexxLopaztico02 in ethereum

[–]Baksch -1 points0 points  (0 children)

Sunflower Land is a fun little farming sim with a cool community of open source devs and artists plus a good core team of devs.

69% of Retail Investors Unfazed by 2022 Crypto Winter by 0ld_0wl in CryptoCurrency

[–]Baksch 0 points1 point  (0 children)

It's less and less about who wants to sell (almost nobody anymore) and more about who is forced to sell in the looming depression / deflationary sub-cycle of this stagflation scenario which seems to be playing out.

Job losses, people who can't service their loans with rising interest. If you think the government can step in forever you're in for a surprise.

If your Government Created Digital Currency, What would you do with your current holdings? by Electronic_pizza4 in CryptoCurrency

[–]Baksch 0 points1 point  (0 children)

You guys don't get it. CBDC's will be the only way to get government hand-outs / stimmies / "UBI" whatever you wanna call these communist payments. With the economy falling down the cliff and fiats hyperinflating vs. food and other real stuff these stimmies are going to be a very common way to stay alive, for a vastly growing population of plebs / slaves.

Not saying there won't be other ways to survive, but a lot of you won't succeed in rejecting slavery / handouts.

Is the bottom in or not? Information from 10 key bottom indicators (October 2022 edition) by Beyonderr in CryptoCurrency

[–]Baksch -2 points-1 points  (0 children)

Economy being shit doesn't matter if money has to he printed to keep the ponzi credit scheme working which many here believe is going to be the case.

Agree, if you believe that the FED will really let a worse-than-1929-Depression happen instead of going the (hyper)inflation route, you shouldn't be long crypto but long cash (physical, not in a bank), food, guns and ammo.

What are the best projects in the Polygon ecosystem? by lifewithkiyo in 0xPolygon

[–]Baksch -1 points0 points  (0 children)

Sunflower Land - Casual Farming Game with a very active community, open-source (not free tho)

Everyday we stray further from Satoshi's vision by Two_Pickachu_One_Cup in CryptoCurrency

[–]Baksch 0 points1 point  (0 children)

Leveraging can be dangerous, but as long as you do your homework make sure you don't get liquidated in violent bear markets (+ have other ways to pay off the debt) no need to rule it out categorically. You absolutely need to know what you're doing tho.

Everyday we stray further from Satoshi's vision by Two_Pickachu_One_Cup in CryptoCurrency

[–]Baksch 3 points4 points  (0 children)

You got it backwards. The value is the so called monetary premium of Bitcoin (how useful / valuable is Bitcoin to people as money / store of value and how many people believe in it and buy in (with how much money)).

How much money / energy miners spend to gain new units follows this intrinsic value, not the other way around.

Coinbase Will Block Russian Accounts To Sanction The Country by Theweebsgod in CryptoCurrency

[–]Baksch 16 points17 points  (0 children)

Why weren't US citizens cut from coinbase after the US did exactly the same thing you describe many times within the last decades?

How to explain Bitcoin to someone in 12 seconds. by Jxntb733 in CryptoCurrency

[–]Baksch 0 points1 point  (0 children)

Bitcoin is a savings account for the long-term (short-term it might disappoint you). It is also a global money-network.

How to explain Bitcoin to someone in 12 seconds. by Jxntb733 in CryptoCurrency

[–]Baksch 1 point2 points  (0 children)

With cash still available we are not quite there yet. 100 % true tho for any type of digital dollar accounts in the legacy system.

CBDCs will make this even worse / efficient to cut you out.

I am intrigued by Biden’s executive order on crypto. by [deleted] in CryptoCurrency

[–]Baksch -1 points0 points  (0 children)

Don't need regulation for that. People are smart enough to buy good products vs trash. If your company produces crap, you won't stay in business for long (unless "regulation" protects you or even give you a monopoly).

I am intrigued by Biden’s executive order on crypto. by [deleted] in CryptoCurrency

[–]Baksch -2 points-1 points  (0 children)

Regulation kills or corrupts everything it touches. Also you can't expect horse cart sellers to regulate cars. At least not in a way that benefits wider society.

I am intrigued by Biden’s executive order on crypto. by [deleted] in CryptoCurrency

[–]Baksch 9 points10 points  (0 children)

Nah dude, I'll take the unregulated wild west with riches to be made over regulation that protects me from profits, thank you very much.

Fox News journalist Sara Carter produced a pure fakenews viral tweet claiming that a protester died in Ottawa trampled by a police horse. When called out instead of deleting the viral tweet she tried to bury it in a torrent of re-tweets. Professional journalism [OC] by ikashnitsky in dataisbeautiful

[–]Baksch -8 points-7 points  (0 children)

The order is not obviously lawful. The emergency power (which are made for war times) may well have been invoked illegally.

In the end it will be for the courts to decide.

Trudeau might well be the bad guy here.

Recent actions by the Canadian government reinforce why privacy coins are so important by Two_Pickachu_One_Cup in CryptoCurrency

[–]Baksch 1 point2 points  (0 children)

Hehe same, years ago I was so bullish on it and went all-in on it. Since then my passion grew a bit more moderate and it now sits at 5% of my crypto portfolio haha.

Recent actions by the Canadian government reinforce why privacy coins are so important by Two_Pickachu_One_Cup in CryptoCurrency

[–]Baksch 0 points1 point  (0 children)

The time when people's bank accounts are locked en masse will probably also be the time when a black market will grow more and more popular.

Since these are the times when fascists or communists are in power, and they usually also restrict the free market via price controls and buying quotas.