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All Crypto is Bad 11/9/22

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1 hour ago, fxfox said:

ALL crypto is bad. It is a hoax from A to Z. It is the direct consequence of the mega printing since 2009, which lead to malinvestments in epic proportions, on top of them crapto.

Daily->
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Weekly->tvc_0399f127e420a5f4943eab9ca1fa0703.png

But don't worry. The 3 year cycle projection is only -3000. That's 3000 below zero. Not as bad as the conventional measure.

Wall Street rates it a hold. 

Meanwhile, back at the intraday stock market, other than yesterday's rigor mortis rally, when the market stiffened into an upright sitting position, and then slumped back, nothing is happening. If the ES, 24 hour S&P futures break 3795, then we can talk. Barring that, nope. 

tvc_7e83d009c52c0af985b97ebb6337a78a.png

Meanwhile, the Fed's rubber stamp never catches up with the market. It just keeps getting tighter while the Fed stays on autopilot with QT. That's the real source of the tightening, regardless of the Fed and Wall Street, and their media handmaidens, pretending otherwise.

tvc_cb836a8e70854cae74d9915eccd30189.png

Meanwhile, here's an update on the true Hindenburg Omen chart. The TLT - 20 year Treasury Bond ETF, that I first drew and posted here about a year ago. 

tvc_a171329affbb89bce5081332641a1a0c.png

Finally, here's what yesterday's big move in gold accomplished. 

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Nothing.  

Click the links below for moron the markets.  

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2 hours ago, Jimbo said:

MORE THOUGHTS ON CRAPTO

The blockchain has some uses.

Crypto has some uses as a medium of exchange.

But most crypo just used as a pump and dump ponzi scheme which appears legal unlike the

normal illegal ponzi schemes.

They appear legal as they sell something with a price (but no intrinsic value) called a token/coin.

Thats why they all create there own token....so they can sell it to outsiders and cash out.

Once the internal token loses value its game over.

Crypto is great for insiders and speculators who make there money buying low and selling high.

Its terrible for so called investors or hodlers as they are called who buy ....hold on....and lose everything.

This is a very similar process as the other greater fool assets such as spacs and meme stocks.

 

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Don't get me wrong but several crypto will hold value - there is no printing problem and holding fake reserve (FTT problem), or there is no problem with algo (Luna problem). There are several good project on the market but of course there is tons of shitcoins. True. But several coins will survive + exchanges. the market will be more regulated, more AML + custody etc.

ETH could be one of them (Proof of Stake, low energy cost + ulitility). BTC could be only as a store of value, but not because of utility. I'm not saying its new gold. Its just new asset class and several people will have it. More over i trully believe that in the long run many crypto will grow thanks to media/entertainament, inc. games industry. Your kids are buyin coins to buy things in games. The world is changing. Metaverse will happen but not in 2025, but rather in 2035. And Im not talking about VR glasses. I'm talking about merging online/offline world which is happening already.

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The members of the New York Syndicate do not like the results of the election. They had put in for a red wave, and instead they got red ass. 

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1 hour ago, SiP said:

Don't get me wrong but several crypto will hold value - there is no printing problem and holding fake reserve (FTT problem), or there is no problem with algo (Luna problem). There are several good project on the market but of course there is tons of shitcoins. True. But several coins will survive + exchanges. the market will be more regulated, more AML + custody etc.

ETH could be one of them (Proof of Stake, low energy cost + ulitility). BTC could be only as a store of value, but not because of utility. I'm not saying its new gold. Its just new asset class and several people will have it. More over i trully believe that in the long run many crypto will grow thanks to media/entertainament, inc. games industry. Your kids are buyin coins to buy things in games. The world is changing. Metaverse will happen but not in 2025, but rather in 2035. And Im not talking about VR glasses. I'm talking about merging online/offline world which is happening already.

I'm with FxFox on this. They're all worthless. Infinite supply. Limited demand.

What's the difference one supposedly good crypto to another? Their only value is in the con, and that's steadily disappearing.

They're all going to zero. They have no intrinsic value, no utility, other than for criminals to move money outside the system. They're useless for any commercial or investment purpose, other than the fact that they have a price, and that price changes and can be charted and traded.  

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Let me correct you Doc - ETH and BTC are not in infinite supply. Actually BTC is a good example. They will stop issuing new btc. BTC has different problem - the transaction spread is too big, it eats to much energy etc so it can be mainly used as a store of value. Just look at crypto world. Many treat btc as a reserve. The problem is that during downtrends and panic like right now, somebody will sell btc to get funds for clients (withdraws).  so thats why bitcoin is dropping right now.

 

But let me tell you about one of my biggest best bet - eth. The spread is getting lower, the energy consumption is now lower, etc and there is good chance that eth will the the blood of web3 as a main crypto.

I think we are now in winter phase in crypto, but after winter, the spring will come and good projects will survive.

 

 

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Just now, SiP said:

Let me correct you Doc - ETH and BTC are not in infinite supply. Actually BTC is a good example. They will stop issuing new btc. BTC has different problem - the transaction spread is too big, it eats to much energy etc so it can be mainly used as a store of value. Just look at crypto world. Many treat btc as a reserve. The problem is that during downtrends and panic like right now, somebody will sell btc to get funds for clients (withdraws).  so thats why bitcoin is dropping right now.

 

But let me tell you about one of my biggest best bet - eth. The spread is getting lower, the energy consumption is now lower, etc and there is good chance that eth will the the blood of web3 as a main crypto.

I think we are now in winter phase in crypto, but after winter, the spring will come and good projects will survive.

 

No, you haven't corrected me. The individual cryptos have limited supply, but the total supply of crypto is infinite and ever expanding. They are interchangeable. There are always more cryptos to compete with existing cryptos. It's why they will trend down in price, permanently.  

 

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Just now, DrStool said:

No, you haven't corrected me. The individual cryptos have limited supply, but the total supply of crypto is infinite and ever expanding. They are interchangeable. There are always more cryptos to compete with existing cryptos. It's why they will trend down in price, permanently.  

 

In other words, there are no barriers to entry to ever more cryptos. 

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