Crypto predictions, dead or not.

Would you buy any crypto

  • Yes

    Votes: 8 22.9%
  • No

    Votes: 18 51.4%
  • Go back to south Australia

    Votes: 9 25.7%

  • Total voters
    35

safreek

*******
IF I had some spare cash I'd consider getting in soon, just ETH and Bitcoin
Not financial advice so beware.
Trading companies like swyftx allow min 30 dollar deposits so pretty cheap to get in. I think you have the right idea though. Those 2 cryptos get the bulk of sensible money. Still can drop a lot more yet, fingers crossed they dont
 

jrewing

Eats Squid
I was in on Luna. Had it all staked. Was money I was ok with if it dissolved. It sure did… quite impressive actually. I’ve bought a bunch more in the chance it resurrects in some form. Rumours about it was a short by capital firms do such.. but possibly more to get bitcoin down mainly and use Luna as the catalyst. Luna ceo Do Kwon was a bit too outspoken with his belief in Luna. Other crypto founders were initially all laughs, but now they realise they should have been calming the market. Loads of ego involved.
 

safreek

*******
Hoo boy, haven't been bothering to pay attention, so just went and had a look.

Everything is getting smashed. What happened to poor old Luna?

At the end of the day, the big boys like ethereum, bitcoin and solana will come out ok, but all others are a total crapshoot.

Governments around the world will continue pushing for, and legislating centralised, bank controlled tokens, so they can continue the cronyism and control.

But decentralised currencies will continue, and (hopefully) remain out of their reach and control.
Sorry to ruin your morning :(
You are most likely to be correct about the big boy coins, I actually deviated from my path that I planned and bought outside the big 10, paying the price now.
Have no Doubt more loot will be going in, I'm in for do or die.
Hope things go well with yours. bloody luna, glad I didn't listen to a friend
 

Squidfayce

Eats Squid
haha whacked on 200 bucks onto Luna this morning @1.5. Worth the gamble if it bounces back. My guess is it will based on some of my thinking. Though trying really hard not to be greedy and drop a grand on it. Its becoming increasingly hard to hold back with the promise of a stupid windfall if im right.
 

johnny

I'll tells ya!
Staff member
Hoo boy, haven't been bothering to pay attention, so just went and had a look.

Everything is getting smashed. What happened to poor old Luna?

At the end of the day, the big boys like ethereum, bitcoin and solana will come out ok, but all others are a total crapshoot.

Governments around the world will continue pushing for, and legislating centralised, bank controlled tokens, so they can continue the cronyism and control.

But decentralised currencies will continue, and (hopefully) remain out of their reach and control.
Couple of take aways for me:

  • Crypto is connected to the Nasdaq, which is tech heavy. I assume that this implies that crypto is seen as a speculative investment, largely made by people in the tech sector. Now that inflation is up and stocks are down, and particularly hitting tech hard, they are pulling their investment out of crypto, which has created a bit of a run. I'm not sure of all of this, but I think that's what might be happening
  • Many countries are looking at creating Central Bank Digital Currencies (CBDC), China is pretty far advanced with the e-CNY, Sweden with the e-krona, the US has MIT working on it, Australia is looking into it, etc. etc. CBDCs will be a thing and it's not just about cronyism and control. It is about modernising finance, but it's also about being able to link into international financial flows from banking to tourism. Over time, this move to digital currencies will reduce the power of the USD, which will eventually cease to be the reserve currency. But that's many years away yet.
  • With the introduction of CBDCs, the idea of a digital wallet and related currencies will socialise and introduce more people to cryptos, which will continue to normalise across modern society. That being the likelihood, I'd say that crypto is here to stay and when the dip bottoms, ETH and BTC are likely decent, long term investments.
I heard an interesting thought, that if BTC drops below USD30k, a large number of miners will shut down operation as it ceases to be profitable for them. I assume that is related to energy costs. Energy will continue to be of the constraints that will inhibit crypto growth, as will the speed of transaction settlements.
 

Squidfayce

Eats Squid
miners wont shut down IMO because realised profits already exist to cover any shortfalls in the short to medium term. If it stays low for too long, then that could occur, but I understand that many of the large scale commercial miners have been largely investing in renewable energy for their operations.
 

safreek

*******
I was in on Luna. Had it all staked. Was money I was ok with if it dissolved. It sure did… quite impressive actually. I’ve bought a bunch more in the chance it resurrects in some form. Rumours about it was a short by capital firms do such.. but possibly more to get bitcoin down mainly and use Luna as the catalyst. Luna ceo Do Kwon was a bit too outspoken with his belief in Luna. Other crypto founders were initially all laughs, but now they realise they should have been calming the market. Loads of ego involved.
That sucks man, I know a lot of people were waiting for big investment companies to start buying, somehow believing it would increase prices.
I have always been of the opposite thought, as soon as big business gets involved smaller profits are taken stopping decent runs.
Don't get me wrong, they should be making profits for investors, I feel it has just turned it into another form of stock Market and it's no longer a seperate currency.

Good luck man, hope it works out
 

safreek

*******
Couple of take aways for me:

  • Crypto is connected to the Nasdaq, which is tech heavy. I assume that this implies that crypto is seen as a speculative investment, largely made by people in the tech sector. Now that inflation is up and stocks are down, and particularly hitting tech hard, they are pulling their investment out of crypto, which has created a bit of a run. I'm not sure of all of this, but I think that's what might be happening
  • Many countries are looking at creating Central Bank Digital Currencies (CBDC), China is pretty far advanced with the e-CNY, Sweden with the e-krona, the US has MIT working on it, Australia is looking into it, etc. etc. CBDCs will be a thing and it's not just about cronyism and control. It is about modernising finance, but it's also about being able to link into international financial flows from banking to tourism. Over time, this move to digital currencies will reduce the power of the USD, which will eventually cease to be the reserve currency. But that's many years away yet.
  • With the introduction of CBDCs, the idea of a digital wallet and related currencies will socialise and introduce more people to cryptos, which will continue to normalise across modern society. That being the likelihood, I'd say that crypto is here to stay and when the dip bottoms, ETH and BTC are likely decent, long term investments.
I heard an interesting thought, that if BTC drops below USD30k, a large number of miners will shut down operation as it ceases to be profitable for them. I assume that is related to energy costs. Energy will continue to be of the constraints that will inhibit crypto growth, as will the speed of transaction settlements.
I think you are correct, worded better than I would of.
The whole point of crypto is to be its own currency(well it was) so doing USD, AUD and similar coins seems pointless if it's still backed by the same country financial system.
 

safreek

*******
haha whacked on 200 bucks onto Luna this morning @1.5. Worth the gamble if it bounces back. My guess is it will based on some of my thinking. Though trying really hard not to be greedy and drop a grand on it. Its becoming increasingly hard to hold back with the promise of a stupid windfall if im right.
Good luck brother, you may have convinced me to have a small punt
 

teK--

Eats Squid
Pretty sure Luna is done. So many greedy mofos went all in during the first big dip and got totally rekt when it dropped several multitudes further.

I got out of some of the riskier alt coins earlier in the year and consolidated into bitcoin and eth. just sitting tight and holding on for the long ride now...
 

Squidfayce

Eats Squid
Pretty sure Luna is done. So many greedy mofos went all in during the first big dip and got totally rekt when it dropped several multitudes further.

I got out of some of the riskier alt coins earlier in the year and consolidated into bitcoin and eth. just sitting tight and holding on for the long ride now...
yep my 200 buck bet is worth about 35 right now. Short of some miracle it will probably be worth zero by the end of the day. Though who knows, wouldnt be the first time a crashed crypto defied all odds and surged back.

though i have limited sympathy for all those "lost my life savings" peeps.

though people are still buying and making money on this coin. Some managing to even double their money in litterally minutes before exiting again. sadly dont have time for that sort of activity

389353
 

safreek

*******
Pretty sure Luna is done. So many greedy mofos went all in during the first big dip and got totally rekt when it dropped several multitudes further.

I got out of some of the riskier alt coins earlier in the year and consolidated into bitcoin and eth. just sitting tight and holding on for the long ride now...
Well done, if I would of stuck to my original plan it would be looking bonza, got carried away with short-term shit coin that has come back to bite
 

Squidfayce

Eats Squid
Well done, if I would of stuck to my original plan it would be looking bonza, got carried away with short-term shit coin that has come back to bite
you knew that from the start though. it was a gamble, not an investment. How carried away did you get? or are you refering to events outside of todays little adventure?
 
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