G’morning friends!
I feel like Carrie this morning...went to the crypto Prom last night and came away looking like this!
I saw btc under 6k lastnight, and many of the alts i hold have been so savagely beaten i hardly recognize them from looking at just price alone.
Litecoin for $60!!!? Poe for 125 Satoshis!!!? Eos under 5 bucks and Binance looking ill at $9. Yarrrrrgh! What the ‘ell is happening? ...oh yeah, This Is Sparta!!!
(Insert ironic meme here...)
What can i tell you? This is all cyclical...it’s happened many times before...it will rebound...yadda yadda yadda... really i can’t say shit ‘cause no one really knows what’s going to happen. However, looking at the global state of affairs, with particular interest paid to an obscene stock market and crumbling currencies everywhere (particularly Turkey, Argentina etc.), one can only shake their head at the irrational behaviour of the reported numbers.
As has been said before many times: the market can remain irrational longer than most can remain solvent
Personally, i still have a lot of faith in all things “blockchain” and “cryptographically protected” but even zealots have their faith questioned once in a while. So i’mma just hodling — and buying more when i can. As i do believe that when the current currency levee breaks there will be little respite from the floodwaters if you’re holding too much Fiat. With that being said, however, one can clearly see the benefit of holding some dry powder. At times like these there are many bargains to be had.
I’m not going to provide any analysis here but i do want to share a couple numbers.
The first number is 21,000,000,000,000 — yep, “trillion”, that massive number is the current debt load of the USA, and i read that this figure will suck up more than 500 billion dollars in interest payments in the next year. Wow! Talk about maxing out your visa!!! The reason i find this number intriguing is that it is a million times larger than 21,000,000 which is the Max supply of bitcoin. With a lil’ math, one can clearly see that one million dollar bitcoin could, potentially, suck up all that debt in one fail swoop!
Now i am not predicting this, nor making a case for it, but i did find the corollary interesting. And of further note, given the World Debt of 237 Trillion dollars (if this is an accurate number) then we’d be looking at 10million dollar btc to cover this unimaginably large debt. But of course, this debt will never be paid back...but still, i found it to be an intersting thought experiment.
Here’s another intersting number:
And now let’s look at the max supply for the token Po.et
Now i’m not saying that this guarantees anything, or even that it has any material effect on the price of future of poe, but it does point to the fact that developers are trying to build something with some mathematical integrity. Really, it is a somewhat arbitrary number...but FA-HOCK!!! What else is there to write about? Lol
Oh yeah. Silver for $15 usd an ounce and gold at $1,200? Well, if you don’t like cryptos and are sitting on a pile of Benjos, then maybe now or sometime soon would be a good time to grab up some gold — do what many central banks are doing and prosper!
Anyway, there’s my musings... i hope everyone is not getting beaten too savagely. Downturns like this are par for this course, and the massive gains that can be captured sometimes in this market are not without their risks. So if you can time it right, there are big ups to take advantage of.
Here’s a great infograph i swiped off of @matthewwarn’s post from a couple days ago.
Figure out where we are on the graph and act accordingly.
I am @thedamus and my nose has been bloodied by crypto — but i bought a dozen noses 8 months ago so i’m still okay! But fak...!
That is all...
😥😱😭😥😱😭😥😱😭Cheers! from @thedamus
...just hang on baby!
This has been a bloodbath. . . across the board. . . . metals . . . cryptos . . .
I just want to know who are the vampires manipulating the markets and sucking up all this blood.
I’m getting my pints... 😜👍
I'm catching a blood drop here and a blood drop there as people are selling low, . . .
... with Po.et I'm even catching a few tear drops too
... for those who can't read between the lines. . .
I don't have enough to be buying Cryptos like my man @thedamus, but I am getting a few cryptos and since Po.et continues to drop, I continue to get as much as I can.
I’m holding on by a thread...😪🤣
Gaining experience bro... 😜👍
Great stuff! new follower here and if your interested your content is qualified to join our curation circle of friends at either @dgi where you help support minnows or @dynamicgreen where you get higher profits for life! Thanks for your consideration and keep steemin friend!
Hiya d, sounds interesting! I will have a look
😎👍
Thanks friend! another upvote for steemit engagment!
Back ‘atcha 😜
Come check us out #steemsilvergold — our second Monster Raffle begins in a few hours... win precious metals and have a great time meeting a great bunch of Steemit peeps 🤩🤩🤩
@dynamicrypto here, tag your it :P Sounds great I was actually looking them over today and have a tab open I have been meaning to get to!
My stack is small...
You just got splashed by @rewards-pool. For more information on delegating to the @rewards-pool click the following link. https://steemit.com/steemsilvergold/@rewards-pool/introduction-to-rewards-pool @rewards-pool where a small delegation can get you a big splash.
Thank you for your continued support of SteemSilverGold
KNOCK, KNOCK!!....
Who’s there?
It's opportunity calling mother fucker!! Open the door and let me in.
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🤑
🍆
👞
Lol! I did give you credit... 😜👍
It’s like a war zone, crypto’s laying everywhere but one must HODL!!!😎😎😎
it's almost all in the dumps for sure. But I managed to squeak out a profit on DIMEcoin! yay , not much, but a gain. it's all about patience, whether its metals or cryptos.
Damn E, making money in this enviro is some fancy moves! 😎👍
Hopefully we just gotta wait this thing out! And of course buy while it's all in the shitter lol
I always say the same thing: I am in no hurry. I can wait and if it continues, I will buy more steem and more silver/gold.
Slow n steady wins the race!
Yes, my friend @thedamus, this is all cyclical. For us to outlast the irrational market, ideally we keep enough for 6 to 12 months in emergency fund to remain solvent. It takes so much discipline not to buy the hype in between. Keep diversified, is what the winners of this market tell us... keep more in value in hard assets than into intangible assets. Let us ride this thing together. Keep optimistic, because it IS cyclical. Stack hard the dips, my friend.
Like a bricklayer 888!
😎👍
We are in it for the long haul, but we will be ready for the next climb. I guess I never realized about po.et. It just makes me want to buy more. Haha!
Meeeee toooo!
Am i worried? No. What I have now is the House's cash, I've already withdrawn 10+ oz in Silver so I'm gonna let the rest ride and accumulate. Still a part of my Portfolio.
😎👍👍
I am going to power up like a Mofo!
Good timing!
Yes, coins have fallen considerably in value. What I personally think is that it is time to invest and buy, to take advantage of the low prices because like you I have faith that it will go up again and with strength.
It's bloody, alright. I think it was coming for a long time and I was just trying to escape it by not acknowledging it. I am in the crypto game for long term but that doesn't mean that it hurts any less.
PS: interesting supply number of po.et :-)
How about change the name to pi.et ?
It’s kind of arbitrary, but kind of awesome too!
You're right this has happened many times I think we are all dismayed by this low but I think that also this will rise I see it as a stock exchange
When Bitcoin goes down, it drags all the coins and our happiness... But here we stand in struggle, holding everything.
Hahaha I think I would also feel like her, this is like a kill hahaha but I have faith that this will happen I know if
Under so fast that it affects so much, I do not take preventive measures before this slaughter.
This is definitely testing times for crypto holdlers! I put in a bit more early in the week (I got lucky and got pretty near the bottom, assuming it hasn't dropped again as I'm writing this). Although I worry, I am holding on to the fact that it is still higher than when I first bought in...
... But it has reminded me about the safety of diversification! This month, I've been starting to look and study up about precious metal collecting, I think it will soon be time to get my feet wet!