Is anyone else starting to become a bit worried? mod note in first post

erlichbachman

Open the mind lads, don't be afraid

silliussoddius

But open it as far as Joe’s and your brain falls out.

Potatoeman

USDC depegged, looks like contagion from banking failures that could see a run on it. It’s not clear how much exposure they have.

Potatoeman

So regulators go after crypto, people pull their funds which causes a run on deposit which causes pressure on banks tied into long term yields which are lower than short term yields. This results in insolvency and a banking bust. Bad times ahead for everyone.

The thing is economists warned that the fast interest rate hikes after a long period of low interest rates might break the system and it looks like that is happening.

Kaybaykwah

https://www.boards.ie/discussion/comment/120345400#Comment_120345400

2024: the excrement will collide with the ventilator.

Dohnjoe

USDC breaking it's peg. A lot of exposure to SVB.

Breezy_

https://www.boards.ie/discussion/comment/120345929#Comment_120345929

So you're telling me to buy

Potatoeman

https://www.boards.ie/discussion/comment/120346089#Comment_120346089

I wouldn’t USDC that for a dollar.

erlichbachman

Repeg complete, all aboard that’s going aboard, expecting only green for the next couple of weeks, don’t miss out folks

Dohnjoe

https://www.boards.ie/discussion/comment/120353459#Comment_120353459

"Buy to boost my holdings people, keep buying, everyone buy, all aboard everyone, don't miss out, BuY tHe DiP"

Sincerely,

Every crypto-bro

:)

erlichbachman

Seriously dude, this is boards, this thread will have about 8 views in a month, you really need to start lightening up or ask the doctor for a Xanax prescription, plus you shudda got a ban for that blasphemy on satoshi

erlichbachman

24k bitcoin folks, last of the cheapies going now

Thargor

Surprised at that recovery tbh.

erlichbachman

Why surprised? the recent decline was based solely on the svb case. Now svb are being bailed out, and the purpose of crypto has been highlighted for even more eyes to see.

Yet again, we could have had the ordinary joe soap queing up in a bank this morning only to be told, sorry but we don’t have your money Mr Bachman, we gambled it and we lost.

Dohnjoe

https://www.boards.ie/discussion/comment/120353619#Comment_120353619

I'm perfectly fine thanks, just explaining to others how this scheme works. I've got crypto too, it goes up if more people throw money at it, I'm in the same boat.

Potatoeman

https://www.boards.ie/discussion/comment/120354313#Comment_120354313

Too fast, expect a drop again. Short term traders are having a field day.

erlichbachman

https://www.boards.ie/discussion/comment/120354380#Comment_120354380

Well then we can all make money together and live happily ever after, welcome to the club

Dohnjoe

https://www.boards.ie/discussion/comment/120354440#Comment_120354440

We don't "all make money together". Anyone who paid over 24k for BTC is underwater. They are waiting for someone else to pay more than they did, and then those need a larger wave to pay them and so on. All for something that produces nothing.

So it's more a "we are all in this to fleece each other' club, much like a casino :)

CorkRed93

https://www.boards.ie/discussion/comment/120354345#Comment_120354345

the purpose of crypto has been highlighted to even more eyes 🤣

erlichbachman

Only those connect to grey matter, so you’re safe cork

CorkRed93

https://www.boards.ie/discussion/comment/120355119#Comment_120355119

please explain to us why this has highlighted the purpose of crypto? bitcoin was tanking on SVB news, they got bailed out now its ripping. seems as though this diminishes its use case if anything but im sure you'll find some way to spin it.

erlichbachman

You’re asking the wrong questions cork, there’s only 2 questions should be asked, wen moon and wen lambo

Breezy_

https://www.boards.ie/discussion/comment/120355517#Comment_120355517

Q1 - Aug 2024

Q2 - Never

erlichbachman

Is everybody ready for another pump today?

antimatterx

I'm stunned by this rally.

erlichbachman

Great innit, 30k bitcoin not far off now

fritzelly

This is all too hopeful for this thread

erlichbachman

Ahh don’t worry, the lads will be in shortly to drag us down, but for now let’s all enjoy our moment

antimatterx

https://www.boards.ie/discussion/comment/120357485#Comment_120357485

I don't see it tbh, despite this rally. I'd happily be wrong.

erlichbachman

https://www.boards.ie/discussion/comment/120357407#Comment_120357407

Inflation reported to have slowed to 6%, and many agree the more accurate prediction would be around the 4.5-5 mark, all systems go from here