OT crypto crash...

S

server

Guest
https://uk.finance.yahoo.com/news/crypto-billionaires-vast-wealth-destroyed-183042529.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZHJ1ZGdlcmVwb3J0LmNvbS8&guce_referrer_sig=AQAAAMuSbpwV3EWdsJcEKThcK3HHpJ5Pq39wBQ_rNoHc1I4yRRaGtJhiNuyyY0NUuRkph7xt6vqxjfLLlSPpD7Cb4kSId9jQbAZ0T89wUav5Mxvk5KokPYxy9Ge-Vk27rnicZrxQ2oVkqEv_-NgT35G5pYWcjJ_qV5Tp83bpkNHzL4Xs

not to mention all sorts of tech stocks that have lost 95% of their
IPO price.

Dot-bomb and tulip bulbs again... emotional trading in things with no
underlying value. At least it didn\'t take terajoules to grow tulips.

It\'s hard to feel sorry for some guy who is down to his last two
billion dollars, but lots of ordinarily greedy people could be in big
trouble with their wives too.



--

Anybody can count to one.

- Robert Widlar
 
M

Martin Brown

Guest
On 12/05/2022 15:11, jlarkin@highlandsniptechnology.com wrote:
https://uk.finance.yahoo.com/news/crypto-billionaires-vast-wealth-destroyed-183042529.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZHJ1ZGdlcmVwb3J0LmNvbS8&guce_referrer_sig=AQAAAMuSbpwV3EWdsJcEKThcK3HHpJ5Pq39wBQ_rNoHc1I4yRRaGtJhiNuyyY0NUuRkph7xt6vqxjfLLlSPpD7Cb4kSId9jQbAZ0T89wUav5Mxvk5KokPYxy9Ge-Vk27rnicZrxQ2oVkqEv_-NgT35G5pYWcjJ_qV5Tp83bpkNHzL4Xs

not to mention all sorts of tech stocks that have lost 95% of their
IPO price.

There are always a few unicorns that quickly become dodos.

The VC\'s I know reckon only 1 in 10 will ever pay back but when they get
a good one it pays back so many times over that the risk is worth it.
They prefer crash and burn cutting edge enterprises to ones that linger
on never quite making it fly or going bust. Absorbs too much management
time. (they pull the plug in such cases precipitating the latter)

Dot-bomb and tulip bulbs again... emotional trading in things with no
underlying value. At least it didn\'t take terajoules to grow tulips.

And in extremis you can just about eat tulip bulbs.

Tulip mania one grower/merchant/speculator inadvertantly did after a
visitor mistook the precious bulb for an onion (or so the story goes)...

https://www.bbc.co.uk/news/business-51311368

I can\'t think of anything much that you can do with crypto currencies in
the real world apart from accidentally lose them:

https://www.theguardian.com/uk-news/2021/jan/14/man-newport-council-50m-helps-find-bitcoins-landfill-james-howells

I\'m fairly convinced that crypto currencies will eventually fall out of
fashion when people wise up to just how much they contribute to global
warming. You would be hard pressed to invent something more wasteful of
energy for the value of the transactions processed.

It\'s hard to feel sorry for some guy who is down to his last two
billion dollars, but lots of ordinarily greedy people could be in big
trouble with their wives too.

Fear of losing out is what drives these crazy speculative bubbles.

So long as there is a \"greater fool\" to sell turds wrapped in gold foil
to then buying them and reselling quickly at a profit is quite rational.
(if you have no ethics)

It all comes tumbling down when somebody innocently points out that the
emperor has no clothes. The goods then revert to their intrinsic value.

Pump and dump is the simplest of these dodgy investment schemes.

--
Regards,
Martin Brown
 
J

John Walliker

Guest
On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:

I\'m fairly convinced that crypto currencies will eventually fall out of
fashion when people wise up to just how much they contribute to global
warming. You would be hard pressed to invent something more wasteful of
energy for the value of the transactions processed.

+1

John
 
B

bitrex

Guest
On 5/12/2022 10:11 AM, jlarkin@highlandsniptechnology.com wrote:
https://uk.finance.yahoo.com/news/crypto-billionaires-vast-wealth-destroyed-183042529.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZHJ1ZGdlcmVwb3J0LmNvbS8&guce_referrer_sig=AQAAAMuSbpwV3EWdsJcEKThcK3HHpJ5Pq39wBQ_rNoHc1I4yRRaGtJhiNuyyY0NUuRkph7xt6vqxjfLLlSPpD7Cb4kSId9jQbAZ0T89wUav5Mxvk5KokPYxy9Ge-Vk27rnicZrxQ2oVkqEv_-NgT35G5pYWcjJ_qV5Tp83bpkNHzL4Xs

not to mention all sorts of tech stocks that have lost 95% of their
IPO price.

Dot-bomb and tulip bulbs again... emotional trading in things with no
underlying value. At least it didn\'t take terajoules to grow tulips.

It\'s hard to feel sorry for some guy who is down to his last two
billion dollars, but lots of ordinarily greedy people could be in big
trouble with their wives too.

My cryptocurrency investment did really badly this year, but given my
overall exposure I think my ladyfriend will be able to forgive my
trespasses:

<https://imgur.com/a/pe6wuy0>
 
B

bitrex

Guest
On 5/12/2022 10:11 AM, jlarkin@highlandsniptechnology.com wrote:
https://uk.finance.yahoo.com/news/crypto-billionaires-vast-wealth-destroyed-183042529.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZHJ1ZGdlcmVwb3J0LmNvbS8&guce_referrer_sig=AQAAAMuSbpwV3EWdsJcEKThcK3HHpJ5Pq39wBQ_rNoHc1I4yRRaGtJhiNuyyY0NUuRkph7xt6vqxjfLLlSPpD7Cb4kSId9jQbAZ0T89wUav5Mxvk5KokPYxy9Ge-Vk27rnicZrxQ2oVkqEv_-NgT35G5pYWcjJ_qV5Tp83bpkNHzL4Xs

not to mention all sorts of tech stocks that have lost 95% of their
IPO price.

Dot-bomb and tulip bulbs again... emotional trading in things with no
underlying value. At least it didn\'t take terajoules to grow tulips.

It\'s hard to feel sorry for some guy who is down to his last two
billion dollars, but lots of ordinarily greedy people could be in big
trouble with their wives too.

At the beginning of the year I made a lil portfolio with $500 into
cryptocurrency, the Energy Select Sector Index fund, and emerging market
stocks in Brazil and Africa, because my magic 8 ball told me these
things naturally hedge each other.

It\'s down about 9% for the year so far so basically not that much worse
than high-yield bonds over the same time period /shrug
 
S

server

Guest
On Thu, 12 May 2022 07:11:11 -0700, jlarkin@highlandsniptechnology.com
wrote:

https://uk.finance.yahoo.com/news/crypto-billionaires-vast-wealth-destroyed-183042529.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZHJ1ZGdlcmVwb3J0LmNvbS8&guce_referrer_sig=AQAAAMuSbpwV3EWdsJcEKThcK3HHpJ5Pq39wBQ_rNoHc1I4yRRaGtJhiNuyyY0NUuRkph7xt6vqxjfLLlSPpD7Cb4kSId9jQbAZ0T89wUav5Mxvk5KokPYxy9Ge-Vk27rnicZrxQ2oVkqEv_-NgT35G5pYWcjJ_qV5Tp83bpkNHzL4Xs

not to mention all sorts of tech stocks that have lost 95% of their
IPO price.

Dot-bomb and tulip bulbs again... emotional trading in things with no
underlying value. At least it didn\'t take terajoules to grow tulips.

It\'s hard to feel sorry for some guy who is down to his last two
billion dollars, but lots of ordinarily greedy people could be in big
trouble with their wives too.

https://www.infowars.com/posts/suicide-threats-spike-on-reddit-after-crypto-crash/



--

Anybody can count to one.

- Robert Widlar
 
E

Ed Lee

Guest
On Friday, May 13, 2022 at 7:27:28 AM UTC-7, jla...@highlandsniptechnology.com wrote:
On Thu, 12 May 2022 07:11:11 -0700, jla...@highlandsniptechnology.com
wrote:

https://uk.finance.yahoo.com/news/crypto-billionaires-vast-wealth-destroyed-183042529.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZHJ1ZGdlcmVwb3J0LmNvbS8&guce_referrer_sig=AQAAAMuSbpwV3EWdsJcEKThcK3HHpJ5Pq39wBQ_rNoHc1I4yRRaGtJhiNuyyY0NUuRkph7xt6vqxjfLLlSPpD7Cb4kSId9jQbAZ0T89wUav5Mxvk5KokPYxy9Ge-Vk27rnicZrxQ2oVkqEv_-NgT35G5pYWcjJ_qV5Tp83bpkNHzL4Xs

not to mention all sorts of tech stocks that have lost 95% of their
IPO price.

Dot-bomb and tulip bulbs again... emotional trading in things with no
underlying value. At least it didn\'t take terajoules to grow tulips.

It\'s hard to feel sorry for some guy who is down to his last two
billion dollars, but lots of ordinarily greedy people could be in big
trouble with their wives too.
https://www.infowars.com/posts/suicide-threats-spike-on-reddit-after-crypto-crash/

They are inexpedient traders. Never have more than 10% unhedged positions in cryptos, stocks or casino bets. Although i broke my own rule in the energy sector, they were too cheap and in BK area. I am currently in around 30% energy but 15% hedge. Most of my hedged positions are way higher than expected target price. But that\'s OK, i just don\'t get the huge profits like other traders.
 
A

amdx

Guest
On 5/12/2022 3:05 PM, John Walliker wrote:
On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:

I\'m fairly convinced that crypto currencies will eventually fall out of
fashion when people wise up to just how much they contribute to global
warming. You would be hard pressed to invent something more wasteful of
energy for the value of the transactions processed.
+1

John
  If the value received is less than the cost of the energy used,
no one would be mining crypto. Global Warming is a different question.

--
This email has been checked for viruses by Avast antivirus software.
https://www.avast.com/antivirus
 
M

Martin Brown

Guest
On 13/05/2022 17:32, amdx wrote:
On 5/12/2022 3:05 PM, John Walliker wrote:
On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:

I\'m fairly convinced that crypto currencies will eventually fall out of
fashion when people wise up to just how much they contribute to global
warming. You would be hard pressed to invent something more wasteful of
energy for the value of the transactions processed.
+1

John
  If the value received is less than the cost of the energy used,
no one would be mining crypto. Global Warming is a different question.
That isn\'t true though. Several crypto mining operations now work by
stealing CPU off unsuspecting internet users or flat out stealing the
electricity from the mains. Much less illegal than a cannabis farm.

https://www.bbc.co.uk/news/uk-england-birmingham-57280115

Various botnets do it...

--
Regards,
Martin Brown
 
E

Ed Lee

Guest
On Friday, May 13, 2022 at 11:12:04 AM UTC-7, Martin Brown wrote:
On 13/05/2022 17:32, amdx wrote:
On 5/12/2022 3:05 PM, John Walliker wrote:
On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:

I\'m fairly convinced that crypto currencies will eventually fall out of
fashion when people wise up to just how much they contribute to global
warming. You would be hard pressed to invent something more wasteful of
energy for the value of the transactions processed.
+1

John
If the value received is less than the cost of the energy used,
no one would be mining crypto. Global Warming is a different question.

That isn\'t true though. Several crypto mining operations now work by
stealing CPU off unsuspecting internet users or flat out stealing the
electricity from the mains. Much less illegal than a cannabis farm.

And in countries like Russia, Iran and N.Korea, they don\'t care about energy cost.
 
A

amdx

Guest
On 5/12/2022 3:05 PM, John Walliker wrote:
On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:

I\'m fairly convinced that crypto currencies will eventually fall out of
fashion when people wise up to just how much they contribute to global
warming. You would be hard pressed to invent something more wasteful of
energy for the value of the transactions processed.
+1

John
The article mentions Terra Luna Crypto, 10 days ago the price was $86.17
today it is $0.0001965.
To clarify, that is 19/100 of one cent. 5 weeks ago it was $116.41.

> https://coinmarketcap.com/currencies/terra-luna/

 Oh, just looked at the chart in the link, it is down another 45% in
the last hour since I looked. $0.0001037!!
                             Mikek


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This email has been checked for viruses by Avast antivirus software.
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J

John Larkin

Guest
On Fri, 13 May 2022 18:57:46 -0500, amdx <amdx@knology.net> wrote:

On 5/12/2022 3:05 PM, John Walliker wrote:
On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:

I\'m fairly convinced that crypto currencies will eventually fall out of
fashion when people wise up to just how much they contribute to global
warming. You would be hard pressed to invent something more wasteful of
energy for the value of the transactions processed.
+1

John
The article mentions Terra Luna Crypto, 10 days ago the price was $86.17
today it is $0.0001965.
To clarify, that is 19/100 of one cent. 5 weeks ago it was $116.41.

https://coinmarketcap.com/currencies/terra-luna/

 Oh, just looked at the chart in the link, it is down another 45% in
the last hour since I looked. $0.0001037!!
                             Mikek

Sell! Sell!

--

If a man will begin with certainties, he shall end with doubts,
but if he will be content to begin with doubts he shall end in certainties.
Francis Bacon
 
E

Ed Lee

Guest
On Friday, May 13, 2022 at 4:57:56 PM UTC-7, amdx wrote:
On 5/12/2022 3:05 PM, John Walliker wrote:
On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:

I\'m fairly convinced that crypto currencies will eventually fall out of
fashion when people wise up to just how much they contribute to global
warming. You would be hard pressed to invent something more wasteful of
energy for the value of the transactions processed.
+1

John
The article mentions Terra Luna Crypto, 10 days ago the price was $86.17
today it is $0.0001965.
To clarify, that is 19/100 of one cent. 5 weeks ago it was $116.41.

https://coinmarketcap.com/currencies/terra-luna/

Oh, just looked at the chart in the link, it is down another 45% in
the last hour since I looked. $0.0001037!!
Mikek

1/100 of a cent? But who\'s counting zeros.
 
A

amdx

Guest
On 5/12/2022 3:05 PM, John Walliker wrote:
On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:

I\'m fairly convinced that crypto currencies will eventually fall out of
fashion when people wise up to just how much they contribute to global
warming. You would be hard pressed to invent something more wasteful of
energy for the value of the transactions processed.
+1

John
The article mentions Terra Luna Crypto, 10 days ago the price was $86.17
today it is $0.0001965.
To clarify, that is 19/100 of one cent. 5 weeks ago it was $116.41.

> https://coinmarketcap.com/currencies/terra-luna/

 Oh, just looked at the chart in the link, it is down another 45% in
the last hour since I looked. $0.0001037!!
                             Mikek


--
This email has been checked for viruses by Avast antivirus software.
https://www.avast.com/antivirus
 
A

amdx

Guest
On 5/13/2022 7:09 PM, Ed Lee wrote:
On Friday, May 13, 2022 at 4:57:56 PM UTC-7, amdx wrote:
On 5/12/2022 3:05 PM, John Walliker wrote:
On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:

I\'m fairly convinced that crypto currencies will eventually fall out of
fashion when people wise up to just how much they contribute to global
warming. You would be hard pressed to invent something more wasteful of
energy for the value of the transactions processed.
+1

John
The article mentions Terra Luna Crypto, 10 days ago the price was $86.17
today it is $0.0001965.
To clarify, that is 19/100 of one cent. 5 weeks ago it was $116.41.

https://coinmarketcap.com/currencies/terra-luna/
Oh, just looked at the chart in the link, it is down another 45% in
the last hour since I looked. $0.0001037!!
Mikek
1/100 of a cent? But who\'s counting zeros.
 Oh, well that makes a difference! Ya, I should have had a decimal
point, 1.9/100 of one cent.
 It\'s up 30% since my post 35 minutes ago.
 And John said sell, boy, what does he know? :)
                  Mikek

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This email has been checked for viruses by Avast antivirus software.
https://www.avast.com/antivirus
 
A

amdx

Guest
On 5/13/2022 7:04 PM, John Larkin wrote:
On Fri, 13 May 2022 18:57:46 -0500, amdx <amdx@knology.net> wrote:

On 5/12/2022 3:05 PM, John Walliker wrote:
On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:

I\'m fairly convinced that crypto currencies will eventually fall out of
fashion when people wise up to just how much they contribute to global
warming. You would be hard pressed to invent something more wasteful of
energy for the value of the transactions processed.
+1

John
The article mentions Terra Luna Crypto, 10 days ago the price was $86.17
today it is $0.0001965.
To clarify, that is 19/100 of one cent. 5 weeks ago it was $116.41.

https://coinmarketcap.com/currencies/terra-luna/
 Oh, just looked at the chart in the link, it is down another 45% in
the last hour since I looked. $0.0001037!!
                             Mikek
Sell! Sell!
 John, you should have bought, bought, bought! The price has quadrupled
from
the low yesterday! It is all the way up to $0.00039 per coin. :)
                                   Mikek

--
This email has been checked for viruses by Avast antivirus software.
https://www.avast.com/antivirus
 
E

Ed Lee

Guest
On Saturday, May 14, 2022 at 6:18:03 AM UTC-7, amdx wrote:
On 5/13/2022 7:04 PM, John Larkin wrote:
On Fri, 13 May 2022 18:57:46 -0500, amdx <am...@knology.net> wrote:

On 5/12/2022 3:05 PM, John Walliker wrote:
On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:

I\'m fairly convinced that crypto currencies will eventually fall out of
fashion when people wise up to just how much they contribute to global
warming. You would be hard pressed to invent something more wasteful of
energy for the value of the transactions processed.
+1

John
The article mentions Terra Luna Crypto, 10 days ago the price was $86.17
today it is $0.0001965.
To clarify, that is 19/100 of one cent. 5 weeks ago it was $116.41.

https://coinmarketcap.com/currencies/terra-luna/
Oh, just looked at the chart in the link, it is down another 45% in
the last hour since I looked. $0.0001037!!
Mikek
Sell! Sell!

John, you should have bought, bought, bought! The price has quadrupled
from
the low yesterday! It is all the way up to $0.00039 per coin. :)

Even borrowed time is worth a little bit. UST (TerraUSD) is at $0.19. Terra Luna is designed to destroy UST tokens to push price up to $1, by printing more Luna. Currently, there are 6,530,000,000,000 Luna. They have to increase it several times. Only Lunatic would put new money into Luna.
 
S

server

Guest
On Sat, 14 May 2022 08:17:51 -0500, amdx <amdx@knology.net> wrote:

On 5/13/2022 7:04 PM, John Larkin wrote:
On Fri, 13 May 2022 18:57:46 -0500, amdx <amdx@knology.net> wrote:

On 5/12/2022 3:05 PM, John Walliker wrote:
On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:

I\'m fairly convinced that crypto currencies will eventually fall out of
fashion when people wise up to just how much they contribute to global
warming. You would be hard pressed to invent something more wasteful of
energy for the value of the transactions processed.
+1

John
The article mentions Terra Luna Crypto, 10 days ago the price was $86.17
today it is $0.0001965.
To clarify, that is 19/100 of one cent. 5 weeks ago it was $116.41.

https://coinmarketcap.com/currencies/terra-luna/
 Oh, just looked at the chart in the link, it is down another 45% in
the last hour since I looked. $0.0001037!!
                             Mikek
Sell! Sell!

 John, you should have bought, bought, bought! The price has quadrupled
from
the low yesterday! It is all the way up to $0.00039 per coin. :)
                                   Mikek

Darn. I could have bought a whole blueberry.



--

Anybody can count to one.

- Robert Widlar
 
S

server

Guest
On Sat, 14 May 2022 06:55:49 -0700 (PDT), Ed Lee
<edward.ming.lee@gmail.com> wrote:

On Saturday, May 14, 2022 at 6:18:03 AM UTC-7, amdx wrote:
On 5/13/2022 7:04 PM, John Larkin wrote:
On Fri, 13 May 2022 18:57:46 -0500, amdx <am...@knology.net> wrote:

On 5/12/2022 3:05 PM, John Walliker wrote:
On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:

I\'m fairly convinced that crypto currencies will eventually fall out of
fashion when people wise up to just how much they contribute to global
warming. You would be hard pressed to invent something more wasteful of
energy for the value of the transactions processed.
+1

John
The article mentions Terra Luna Crypto, 10 days ago the price was $86.17
today it is $0.0001965.
To clarify, that is 19/100 of one cent. 5 weeks ago it was $116.41.

https://coinmarketcap.com/currencies/terra-luna/
Oh, just looked at the chart in the link, it is down another 45% in
the last hour since I looked. $0.0001037!!
Mikek
Sell! Sell!

John, you should have bought, bought, bought! The price has quadrupled
from
the low yesterday! It is all the way up to $0.00039 per coin. :)

Even borrowed time is worth a little bit. UST (TerraUSD) is at $0.19. Terra Luna is designed to destroy UST tokens to push price up to $1, by printing more Luna. Currently, there are 6,530,000,000,000 Luna. They have to increase it several times. Only Lunatic would put new money into Luna.

Beanie Babies, Thomas Kinkade paintings, little glass figurines,
Bitcoins, all essentially worthless.



--

Anybody can count to one.

- Robert Widlar
 
J

Jeroen Belleman

Guest
On 2022-05-14 16:30, jlarkin@highlandsniptechnology.com wrote:
On Sat, 14 May 2022 06:55:49 -0700 (PDT), Ed Lee
edward.ming.lee@gmail.com> wrote:

On Saturday, May 14, 2022 at 6:18:03 AM UTC-7, amdx wrote:
On 5/13/2022 7:04 PM, John Larkin wrote:
On Fri, 13 May 2022 18:57:46 -0500, amdx <am...@knology.net> wrote:

On 5/12/2022 3:05 PM, John Walliker wrote:
On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:

I\'m fairly convinced that crypto currencies will eventually fall out of
fashion when people wise up to just how much they contribute to global
warming. You would be hard pressed to invent something more wasteful of
energy for the value of the transactions processed.
+1

John
The article mentions Terra Luna Crypto, 10 days ago the price was $86.17
today it is $0.0001965.
To clarify, that is 19/100 of one cent. 5 weeks ago it was $116.41.

https://coinmarketcap.com/currencies/terra-luna/
Oh, just looked at the chart in the link, it is down another 45% in
the last hour since I looked. $0.0001037!!
Mikek
Sell! Sell!

John, you should have bought, bought, bought! The price has quadrupled
from
the low yesterday! It is all the way up to $0.00039 per coin. :)

Even borrowed time is worth a little bit. UST (TerraUSD) is at $0.19. Terra Luna is designed to destroy UST tokens to push price up to $1, by printing more Luna. Currently, there are 6,530,000,000,000 Luna. They have to increase it several times. Only Lunatic would put new money into Luna.

Beanie Babies, Thomas Kinkade paintings, little glass figurines,
Bitcoins, all essentially worthless.

The same is true for dollars, strictly speaking. The whole economy is
based on trust. As long as you can exchange your basically worthless
tokens for something you need when you need it, the system works. It\'s
scary, really.

Jeroen Belleman
 

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