Sanctions and crypto

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bloobs
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Joined: Tue May 21, 2019 8:00 pm

Sanctions and crypto

Post by bloobs »

Most Russian oligarchs hide their ill-gotten fortunes in dollar and crypto accounts. If the West extends sanctions into crypto, that wouldn't bode well short term for crypto prices, right :?:

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stilljammi
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Re: Sanctions and crypto

Post by stilljammi »

Crypto is a joke and the past few months should ring like a 5 alarm fire, so recent events won't be doing it any favors. Inflation is the highest in 4 decades, so you'd expect commodities, assets, gold, oil, and now crypto should rise and be a hedge. Guess which one fell and by how much in the last 6 months. I remember reading articles in the fall saying BTC would hit $100k before the new year. Crypto was supposed to be a decentralized currency free from influence of big banks and big governments, but it's actual value can be manipulated by a single tweet. It's an actual Ponzi scheme.

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bloobs
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Re: Sanctions and crypto

Post by bloobs »

stilljammi wrote: Thu Feb 24, 2022 1:58 pm Crypto was supposed to be a decentralized currency free from influence of big banks and big governments, but it's actual value can be manipulated by a single tweet. It's an actual Ponzi scheme.
Technically and ironically, crypto prices apparently show a strong correlation with technology indices (i.e. QQQ) prices--which invalidates its supposedly purpose as a hedge to Wall Street.

I guess nothing still beats gold, guns, land and your mattress to hide your wealth during SHTF :lol:

Bubba
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Re: Sanctions and crypto

Post by Bubba »

I don't know much about crypto and prefer to keep it that way. In reading financial literature, some researchers have contended that one of the biggest building blocks of wealth are the dividends you receive (I believe that was Benjamin Graham). Crypto doesn't pay dividends, so it's not my cup of tea.

Having said all of that, I've seen numerous studies in trying to compare crypto to everything (stock market, gold, etc.). I don't think it's comparable to anything because (a) the whole world can trade in it, (b) there are no regulations, (c) it fluctuates quicker than anything and (d) it trades 24 hours a day. In my opinion, when people speak about bubbles, this is where the worst drop will be in the future and where the most will be lost. Of course, that's just my opinion and one that does not include many hours of research.

Enjoy!

wingchaser
Posts: 530
Joined: Thu Jan 22, 2009 8:39 am

Re: Sanctions and crypto

Post by wingchaser »

Interesting program (Voyager) offers interest on Crypto (Bitcoin 4.75% monthly) holdings with their firm…

https://www.investvoyager.com/earn/#coin-blade

Best of Luck (everyone) in all you choose to endeavor!!!
“Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn’t... pays it.” ~ Albert Einstein

JMarshall
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Joined: Wed May 04, 2022 4:16 am

Re: Sanctions and crypto

Post by JMarshall »

I don't see any long setups for crypto yet...I think we'll go into the 30-28k$ zone
By the way many traders have a problem that you always check how much does a bitcoin cost today, even on weekends?)
Maybe someone knows how to get rid of it.

tspwizard1
Posts: 311
Joined: Sat Jan 23, 2016 5:33 pm

Re: Sanctions and crypto

Post by tspwizard1 »

Bubba wrote: Fri Feb 25, 2022 5:14 am I don't know much about crypto and prefer to keep it that way. In reading financial literature, some researchers have contended that one of the biggest building blocks of wealth are the dividends you receive (I believe that was Benjamin Graham). Crypto doesn't pay dividends, so it's not my cup of tea.

Having said all of that, I've seen numerous studies in trying to compare crypto to everything (stock market, gold, etc.). I don't think it's comparable to anything because (a) the whole world can trade in it, (b) there are no regulations, (c) it fluctuates quicker than anything and (d) it trades 24 hours a day. In my opinion, when people speak about bubbles, this is where the worst drop will be in the future and where the most will be lost. Of course, that's just my opinion and one that does not include many hours of research.

Enjoy!
Ethereum 2.0 will be proof of stake that does pay annual dividends. And there are others that also do. There are many crypto regulations these days, and more to come. Do a little more research.

tspwizard1
Posts: 311
Joined: Sat Jan 23, 2016 5:33 pm

Re: Sanctions and crypto

Post by tspwizard1 »

Its funny to me that no one on here knows a darn actual thing about crypto yet posts like they do!

Bubba
Posts: 267
Joined: Thu Mar 05, 2020 3:40 am

Re: Sanctions and crypto

Post by Bubba »

tspwizard1 wrote: Wed May 04, 2022 12:18 pm Its funny to me that no one on here knows a darn actual thing about crypto yet posts like they do!
If you would have read the first part of my sentence that you quoted I said "I don't know much about crypto."

I also added "and prefer to keep it that way."

So, whatever I have read (which I mentioned isn't much either) is enough for me not to be interested. For that matter, I don't trade options, derivatives nor short the market either. I don't have the time to do all of that.

Feel free to quote me on that and mention I should research more into something I don't care about nor have the time to get into.

Best,

Bubba

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Aitrus
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Re: Sanctions and crypto

Post by Aitrus »

tspwizard1 won't be replying anytime soon.
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