Walk The World
Well, those following my channel over recent years will know that I have been quite skeptical of Crypto wave, and while Crypto has gone through several major drops in its history, this time could be different. I was not impressed with so called celebrities starting spruiking them, including Kim Kardashian, but when financial mainstream started getting involved, my concerned grew. In the US, Fidelity’s plans to offer Bitcoin in 401(k)s – their equivalent of superannuation – could impact an entire generation.
Its worth recalling the sector spiked to around $3 trillion in total assets last November, before plunging to less than $1 trillion, with Bitcoin and a range of altcoins plunging from record highs.
What started this year in crypto markets as a “risk-off” bout of selling fueled by a Federal Reserve suddenly determined to rein in excesses has exposed a web of interconnectedness that looks a little like the tangle of derivatives that brought down the global financial system in 2008. The collapse of the Terra ecosystem — a much-hyped experiment in decentralized finance — began with its algorithmic stablecoin losing its peg to the US dollar, and ended with a bank run that made $40 billion of tokens virtually worthless. Crypto collateral that seemed valuable enough to support loans one day became deeply discounted or illiquid, putting the fates of a previously invincible hedge fund and several high-profile lenders in doubt.
The recent crypto plunge, with Bitcoin down about 70% from its peak, is fueling widespread financial troubles for companies involved in the space. Lenders like Celsius Network, Babel Finance and Vauld have suspended withdrawals, while firms such as Coinbase Global Inc. are cutting jobs. This is what is now being called a crypto winter – but will spring ever come?
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Caveat Emptor! Note: this is NOT financial or property advice!!
Podcast edition: https://episodes.castos.com/dfa/332420cb-55f6-49ea-91cd-a6e723187a53-Crypto-Update.mp3
Sayonara Crypto.
It is crypto Ice Age. People will only remember if after 10,000 years later.
Never thought I'd hear Identitarianism enter into a discussion on crypto. The evils of Identitarianism via CRT with a financial bent … It is the Poor who look to crypto, as a mechanism to build wealth outside the "traditional" means. This CRT financial study can only reconsil a black person or the other derogatory term "people of colour", as those who are Poor. Because they see all others a white. Even if they are white and poor, they will state, or misdirect through ommision implying they are still wealthy. While demographics are useful and should be included, the "Versus" and division manufactured via the studies narrative is achieved, via ommiting or segragation of particular specifics for convience to their argument. This something they must do to perpetuate their ideology, and will continue to do so unless it is pointed out constantly.
What’s Fengels opinion?
Every single market has its scammers. Bitcoin was a technology breakthrough and innovation is continuing in this are and will continue in the future. The government's of the world, drunk on fiat money, hate crypto and desperately don't want people to have free choice. If you're against crypto existing as a choice, you're against freedom.
I thought pyramids were only in Egypt ….
Theres only 2 outcomes with bitcoin. it becomes a stable hedge pegged at at around $30k adjusted for inflation. Or the bottom falls out of it completely. Remembering the blockchain concept is simply a decentralized data sharing and storage platform. Be extremely careful of Michael Saylor, he is possibly a disinformation expert or he is being used to scam the masses.
crypto is here to stay.
this is just part of its life cycle.
The Tulip boom and bust graph the same as Bitcoin , so far!
Bitcoin will comeback in 2035! According to Harry Dent!
99.5% of crypto are scams built upon scams. But dont confuse bitcoin for crypto
Fools haha….crypto….inveatment…..hahahaha
13:25 keep your bitcoin off exchanges in a cold wallet in which you control the keys and only chase yield on bitcoin youre prepared to lose > WIN
Let the prices fall, only the best will rise from the ashes.
If bitcoin fails, private, decentralised, money that can be traded peer to peer and held in sekf custody will die with it.
I don't think that is likely. There is a need for Bitcoin.
So bail in laws apply to crypto 'banks' …
Martin, go have a chat with Richard Heart. Im sure Adam Stokes could hook you up as he had him on his show. Would be very interesting conversion between the two of you.
Those unimpressed with crypto, are the ones who least understand it. Feel sorry for them. They're the same people who'll miss out on the greatest wealth opportunity of their lifetime. Meanwhile, they'll drown in their traditional markets (stocks, real estate, precious metals), the only things they know.
the big experiment is being widdled down
they test run most things
Don't trust crypto? Why do we trust Fiet when the RBA, FED etc, have deceived us and printed money to infinity. I don't see the difference. Crypto is decentralised and cannot fail so to speak as no single entity can stop it. It does need to move to proof of stake quickly. But I expect that will happen now there is a urgency for it to happen. Like the urgency to move from oil etc.
Dedicated retail gamblers!
let them keep their wet and smelly under-pants after they lose their shirts!
said the nocoiner
its not the first crash, and it wont be the last. like every other financial market from time to time.
This is going to sound pretty toxic, but here goes:
The sooner these shitcoin ponzis and unregulated crypto "lenders" and "hedge funds" get buried, the better. The only crypto asset you'd ever want to consider holding is bitcoin, and if you're still not sure why the answer is self-custody of bitcoin and only bitcoin, you probably shouldn't have 1 cent of your savings on crypto. In the end, pain is the best teacher, but it's still sad to see retail holding the bag for serial scam artists yet again.
Just like your housing market predictions you are always wrong
Forget cryptocurrencies, wait on property.
Despite the economic downturn , I'm so happy . I have been earning $ 60,000 returns from my $ 7,000 investment every 13days .
Stokes and PeeWee Sanders never spruiked spitcoin. na na naaaaa! Never!