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Deep State Witch

(12,283 posts)

62. Wait for the Crash

Reply to RandiFan1290 (Original post)

Sun Oct 5, 2025, 06:07 PM

9 hrs ago

It's a classic "pump and dump" scheme.

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Bitcoin hits all-time high above $125,000 [View all] RandiFan1290 20 hrs ago OP

This is Krasnov's economic plan gab13by13 20 hrs ago #1

Bitcoin is a load of crap. LPBBEAR 19 hrs ago #2

Yeah, I don't get it either moose65 18 hrs ago #3

Anyone else on here remember the penny stock fad? llmart 15 hrs ago #16

Yep, unfortunately I do. Talitha 14 hrs ago #21

I am so sorry. llmart 13 hrs ago #33

Thanks for your thoughtfuless - no harm, no foul. Talitha 8 hrs ago #66

Greater Fool Theory, apparently. C_U_L8R 13 hrs ago #31

It is substituting computational hardware and energy consumption for Wealthy Bankers IbogaProject 12 hrs ago #51

As I used to say back when Bit coin was worth about $35,000, if you were selling your car Bengus81 18 hrs ago #4

And if you had taken payment in BTC, you would have an asset worth 400% more than you paid for it hueymahl 14 hrs ago #18

Which is why its useless as actual currency. Callie1979 12 hrs ago #40

There's going to be another Bankman Fried disaster in the future,doubtfull they'll be Bengus81 11 hrs ago #57

Totally agree - it is not a good currency right now hueymahl 8 hrs ago #64

I'd say you should always have a good supply of cash on hand. Callie1979 8 hrs ago #67

LOL...you assuming someone selling a $35K car has it paid off Bengus81 11 hrs ago #56

It's like using shells or any other token, as long as there is trust it works. The electricity/cryptography is trust Blues Heron 17 hrs ago #6

Except that bitcoin will NEVER be stable enough to be usable as an actual currency William Seger 16 hrs ago #12

All currencies are based on trust, whether it's the full faith and credit of whatever country, piles of gold, etc. Blues Heron 16 hrs ago #13

Two things you want from a currency: stability and universal acceptance William Seger 16 hrs ago #14

Depends on how you define stability hueymahl 14 hrs ago #20

I define stability as NOT being like this: William Seger 13 hrs ago #27

But what does a bitcoim actually have to KEEP that trust DonCoquixote 14 hrs ago #26

Why does any currency have value? hueymahl 12 hrs ago #41

And when the BTC algorithm gets cracked, what will you have then? Callie1979 12 hrs ago #43

that is a theoretical risk with quantum computers coming online hueymahl 12 hrs ago #47

So we're to trust an "asset" invented by someone no one knows, Callie1979 12 hrs ago #53

Strong cryptography that says those bitcoins belong to you, like your bank says those dollars are yours Blues Heron 7 hrs ago #68

But.... moose65 9 hrs ago #61

Your bank account is just a number on a ledger. The value is in the cryptography. Blues Heron 7 hrs ago #69

The danger... lonely bird 6 hrs ago #70

Finally another kindred sole on here! hueymahl 14 hrs ago #19

Of course, you want more DU members to "come around" William Seger 13 hrs ago #28

No, I want everyone to do well hueymahl 12 hrs ago #39

If you believe cryptocurrency is a good investment but real currency is not... William Seger 8 hrs ago #65

But it would also allow rogue governments like Russia & china to get away with MORE Callie1979 12 hrs ago #42

Banks are already adapting hueymahl 12 hrs ago #50

You forgot to mention a salient point: FakeNoose 14 hrs ago #23

No currency token is worth anything by itself. they are bits of plastic or paper or cheap alloys. Blues Heron 13 hrs ago #32

You just called gold useless & then described some of its uses. Callie1979 12 hrs ago #44

When was the last time you got a gold coin in your change? Blues Heron 12 hrs ago #49

"Coin" wasnt one of the uses. Industry uses a LOT of gold. Callie1979 12 hrs ago #52

As a token of exchange it is pretty useless to you or me, except as decoration. Blues Heron 11 hrs ago #54

Still Worthless VeryProgressive 18 hrs ago #5

It's like a giant slot machine. mdbl 17 hrs ago #7

It should have been drowned in it's infancy. Buddyzbuddy 17 hrs ago #8

I'd buy the "limited quantity" argument, if it were just Bitcoin. But new cryptocurrencies are being created all the progree 17 hrs ago #9

One repeated line I remember from the Pawn Stars show: William Seger 13 hrs ago #29

Yup, that too progree 13 hrs ago #35

This message was self-deleted by its author Emile 17 hrs ago #10

We allknow that someday some people will bluestarone 17 hrs ago #11

Gold is tapping $3900 too bucolic_frolic 16 hrs ago #15

Bitcoin is tulip mania with electrons. Until you dobleremolque 15 hrs ago #17

Coming soon hueymahl 14 hrs ago #22

I wonder ....... dobleremolque 13 hrs ago #34

I don't understand the point of your question hueymahl 12 hrs ago #38

Somethings not right with this economy. Gold and Crypto pinging in lockstep with the markets with high interest rates Cheezoholic 14 hrs ago #24

The common denominator is the dollar is being devalued hueymahl 12 hrs ago #45

The only way anyone would "lose everything" in '08 is if they SOLD. Callie1979 12 hrs ago #46

I was specifically comparing it to the tech bubble in the late 90's not the housing loan fiasco in '07 Cheezoholic 10 hrs ago #59

I personally think Bitcoin is a pyramid scam, Emile 14 hrs ago #25

Both. Callie1979 12 hrs ago #48

of course rampartd 13 hrs ago #30

The greater fool theory. lostincalifornia 12 hrs ago #36

Gonna be interesting when the BTC algorithm is cracked. Callie1979 12 hrs ago #37

It's open source Blues Heron 11 hrs ago #58

There's one born every minute orangecrush 11 hrs ago #55

i own some. a small amount moonshinegnomie 10 hrs ago #60

Wait for the Crash Deep State Witch 9 hrs ago #62

Trump loves this news. Gimpyknee 8 hrs ago #63