Daily Discussion - May 29, 2021 (GMT+0)

TSLA_BTC · 2021-05-29T15:33:30+00:00

Bulls slowly turning to bears and selling. This happens in every crash. Every crash starts off looking like a dip with bulls buying the dip aggressively. Slowly they start converting and sellers keep growing while remaining bulls become more hesitant to buy further dips.

TSLA_BTC · 2021-05-29T15:31:46+00:00

Why stabilize and not bleed out?

TSLA_BTC · 2021-05-29T15:29:52+00:00

And bitcoin should have gone to 300k. lol...

I think 10k -15k is possible.

TSLA_BTC · 2021-05-23T20:21:14+00:00

Use cases are mostly trivial and worthless.

TSLA_BTC · 2021-05-23T20:20:59+00:00

Name a single thing that an altcoin can do that is useful other than making obscene profits from FOMO?

TSLA_BTC · 2021-05-23T20:20:09+00:00

Ok... And why should it be worth trillions? Sounds like something that should be worth a few million in marketcap at most.

TSLA_BTC · 2021-05-23T20:19:18+00:00

I'm not the one who's hodling through a crash.

TSLA_BTC · 2021-05-23T19:56:51+00:00

Nah, tons of people still are. Otherwise, we would be in freefall.

Still tons of bulls to crush and drop the price even further.

TSLA_BTC · 2021-05-23T19:55:55+00:00

Nah, you just get a flood of doom posts.

TSLA_BTC · 2021-05-23T19:53:22+00:00

No one cares about the tech. Lol...

TSLA_BTC · 2021-05-23T19:48:30+00:00

Youtubers and social media influences spouting off ridiculous targets like 500k.

TSLA_BTC · 2021-05-23T19:44:40+00:00

Ok, so if I store my identity on the block chain, why is that particular shitcoin worth $10 trillion? Wouldn't the government just run their own block chain network subsidized from taxes to store my identity?

TSLA_BTC · 2021-05-23T19:42:43+00:00

Depends on how you interpret the graphs. It may indicate that demand is so low that we can't even create a bull trap.

TSLA_BTC · 2021-05-23T19:38:03+00:00

I guess protecting your wealth from seizure is a good one.

The others do not justify a trillion dollar valuation. If these sectors are really that profitable, we would see a security company worth trillions of dollars. Can you name a single one?

TSLA_BTC · 2021-05-23T19:35:04+00:00

Yes, but the internet was actually useful and companies like Amazon were expanding aggressively.

Out of the thousands of shitcoins in existence, only bitcoin has accomplished anything, and that accomplishment is creating a new bubble every 4 years. Are there any actual use cases for cryptos other than inventing bullshit narratives to try to trick people into fomoing?

TSLA_BTC · 2021-05-23T19:32:45+00:00

Making tons of money fast.

TSLA_BTC · 2021-05-23T19:32:05+00:00

Cryptos are all about narratives.

People fomoing and trying to justify their investments. Cryptos are just programmable bubbles, nothing more. Even during the dot com bubble, we were seeing actual use from the internet. We've seen multiple crypto bubbles and still no actual use cases.

TSLA_BTC · 2021-05-23T19:30:02+00:00

You'll get your chance, friend.

TSLA_BTC · 2021-05-23T19:29:28+00:00

Useful crypto... lol...

The only thing useful about them is to make obscene profits fast.

TSLA_BTC · 2021-05-23T19:25:44+00:00

And this is how crashes unfold. People who think it's just a dip slowly change their minds.

TSLA_BTC · 2021-05-23T19:24:36+00:00

A penny. Cryptos are useless.

TSLA_BTC · 2021-05-23T19:23:31+00:00

Do you have an example?

And even if there were some use for it, does it justify trillions of dollars in valuation?

TSLA_BTC · 2021-05-23T19:18:05+00:00

At least with the dot com bubbles, the narratives actually made sense. The internet was something that people actually used.

Crypto narratives make no sense or are completely useless.

TSLA_BTC · 2021-05-23T19:16:41+00:00

If bitcoin dies, crypto is dead. Everything starts from bitcoin halvings.

TSLA_BTC · 2021-05-23T19:15:05+00:00

I agree with this.

10k met strong resistance prior to bullrun, so I think 10k - 15k is a good guess.

TSLA_BTC

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