Huh, what happened to BTC today?
I’m considering investing in BTC as soon as it reaches 24$, according to Saint Buffet 
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Incredible week, this will remain a landmark as why you should stay away from shitcoin. It is not over yet, Solana looks like it will be next as it is not supported by FTX anymore.
Edit: also a good time to remember why pow is so superior to pos…
Not a POW vs POS problem IMHO. More that if you try to cover your losses by printing more of your own funny money it will end in a shit show. And if you leave your cryptos on the exchanges instead of self custody you will lose them. Those lessons will eventually be learned.
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That’s text book POS, you need to do actual work to create bitcoin.
Now the Solana situation is super interesting, most of the wrapped Solana that exchanges are using (like soBTC) were issued by FTX and are supposed to be 1-1 backed by real btc/eth…
But now we know that it is certainly not the case…so if you have Solana or are still using Défi platforms, you probably want to take action.
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I don’t understand Solana too well, but as far I know it’s pretty complicated to run a validator making it rather centralized. Also they had several outages before, so it doesn’t seem like a technically fully developed project yet. I stayed away from it.
I did take a bitcoin gambling position yesterday and count on a rebound today. 
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Well, that was a nice move. I hope you have cashed out because it seems that yet another one bites the dust.
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Got out but a bit too late…
There is something else interesting:
I wanted to reassure you that the protection of our users is our key priority. That is why we announced our Binance Secure Asset Fund for Users (SAFU). The SAFU fund is an insurance fund that acts as a safety net to mitigate as much damage as possible for Binance users in the event of an emergency.
This week, our Security team topped up our SAFU to $1 Billion, consisting of BNB, BUSD and BTC.
That means that if crypto is plunging and Binance has problems, they can use their reserves … Oh, wait…
It’s fun to watch the crypto space rediscover what the rest of the finance industry has learned long before. To have any value, insurance must be provided by a trustable third party, and to offer an additional guarantee, that third party should be insured itself by yet another reliable party.
Looking forward to watching that one fall appart. My popcorn is ready.
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It’s 2008 all over again, crazy. Leverage on leverage on leverage on leverage.
…
And this is the org chart of FTX, good luck unwinding this mess 
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<Klugscheisser Mode ein>
I am 99% sure that Kwon is the surname, though
<Klugscheisser Mode aus>
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Are people still DCA into crypto here?
But of course. If you have decided to invest in something, stay the course. It’s the best time to invest when everyone is scared.
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Probably makes sense in something like VT.
I think the idea there is that it becomes cheaper relative to the fundamental value.
The same isn’t true about Bitcoin though, as it’s not cheaper, the price is just lower. (If you catch my drift).
Nobody knows what the Bitcoin price will do next.
Yet, many people are very certain, that it will go up again if they’re just patient enough - I see no fundamental, historical or statistical data point that backs this up. Even the silly rainbow chart is broken now with prices lower than last cycle (with regards to the mining rewards halvening).
I don’t think “investing” is the right term here.
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We call this speculation…
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What’s the genuine use case for bitcoin?
I am waiting for a clear trend reversal to go all in.
I just talked to a friend from Iran yesterday who sold her grandmothers house and struggled to get her money out of the country. Bitcoin solved that problem.
Bitcoin is a global, digital store of value secured by an unmuteable code and the law of thermodynamics owned by nobody.
It’s price is determined by liquidity and adoption. Adoption is growing exponentially. Liquidity is - as we all know - very low for the forseable future.
If you mean that investing is to buy and never to sell then yes of course you can. You can invest in anything from wine to art, Gold or Pokemon cards.
With a value investing method you will not be able to price a bitcoin. That’s why Warren Buffet hates it. That’s fine.
If you mean by speculation buy an asset in the hope that it will develop in the direction you anticipate, again you can speculate with anything, stocks, real estate and VTI. It’s a question of timeframe and knowledge.
Crypto adoption is growing worldwide by the hour even, the price has no big impact.
Sorry guys but it is not going away, we are way past that point 
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The solution touted put forward is to keep your crypto off exchange in and take care of safety of your keys yourself.
A bit like how vikings buried gold (until banks were invented)
How do you decide when the trend reversal is clear? Looking just at the price or something else too?