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

makeorbrake

Phoebas wrote: »

Think about it objectively - the yellow vest movement have about the same ability to put a man on the moon as they have to orchestrate a run on the banks.

I don't think your analogy is even handed. I did point out that I don't know to what extent they can organise themselves or whether this will become a clearly driven objective. On the law of proabilities - will it happen - probably not. Can it happen?....most definitely.

As regards reporting from crypto sector, sure - that will tend to happen with anything that has implications for or is aligned with crypto in some way or other. So what?

With all the airdrops and forks crypto nearly makes fractional reserve banking look like a reasonable system..

Dohnjoe

Deleted User wrote: »

With all the airdrops and forks crypto nearly makes fractional reserve banking look like a reasonable system..

I'd go so far as to say it's a great system. Not to mention a little better than people privately minting their own fixed-supply digital coins out of thin air with artificial supply caps and calling them "currencies"

q85dw7osi4lebg

https://abcnews.go.com/International/wireStory/yellow-vest-protesters-call-huge-run-french-banks-60256694

The only mainstream site I can see mentioning this weekend. Naturally mainstream media won't want to report on this. It's connection to crypto remains to be seen.

Bob24

I do see many French media reporting it, a few exemples with the help of Google news: https://news.google.com/search?q=Gillets%20jaunes%20banque&hl=fr&gl=FR&ceid=FR%3Afr

Having said that I honestly don’t think the guy behind this has the firepower to make much of an impact (the number of people following his call will be limited, and by definition of the movement they tend to have limited funds in the bank).

makeorbrake

Deleted User wrote: »

With all the airdrops and forks crypto nearly makes fractional reserve banking look like a reasonable system..

I don't think forks matter in the overall sense. At the end of the day, a network will make it for its own use case or ultimately it will die. There are a gazillion forks out there. Already, many of them don't matter.

Has traditional banking functioned for society? Sure. Are there downsides for society with fractional banking? Definitely.

Human nature is to strive for better and I don't see why this should be any different. Yes, crypto is the wild west right now but it doesn't mean that certain projects cant pull through ultimately. Airdrops? - point taken but they're used to bootstrap new projects and don't come in to play for more established projects.

amacca

Bob24 wrote: »

and by definition of the movement they tend to have limited funds in the bank).

Yeah thats what I thought...the people with the power to do that are the kinds of people that definitely don't want to do that........fractional reserve banking or not you would need people with very significant deposits which could need fixed term withdrawal notices or a hell of a lot of people...it might only work at the level of one branch and then be sensationalised.....and thats if its cash withdrawals we are talking about (but even then withdrawals over a certain amount are not allowed without some notice for obvious reasons)

if its EFT you would need a hell of a lot of participants...or a smaller amount of nutjobs with a lot of money...........not many of the latter around.

q85dw7osi4lebg

interesting reading, if a bit dramatic.

https://www.news.com.au/world/europe/yellow-vest-protesters-call-for-huge-run-on-french-banks/news-story/ed334ed08b2ccfc13ca1b108c78f25eb

kippy

Gerald Obedient Manicurist wrote: »

interesting reading, if a bit dramatic.

https://www.news.com.au/world/europe/yellow-vest-protesters-call-for-huge-run-on-french-banks/news-story/ed334ed08b2ccfc13ca1b108c78f25eb

How will they buy Crypto?

q85dw7osi4lebg

kippy wrote: »

How will they buy Crypto?

They won't.

bingobars

Fortune favours the brave!! Anyone got any hot tip ICOs? They were clear piles of horse dung in 2017 and did terribly mid to long term. So everyone is staying clear and I’m thinking anything 1/2 hot has to be good for a punt. Reverse logic. Run in while others are running out

makeorbrake

kippy wrote: »

How will they buy Crypto?

There hasn't been a suggestion that they will. However, should they have a need to, these guys can help (until the regulator stomps on them).

makeorbrake

bingobars wrote: »

Fortune favours the brave!! Anyone got any hot tip ICOs? They were clear piles of horse dung in 2017 and did terribly mid to long term. So everyone is staying clear and I’m thinking anything 1/2 hot has to be good for a punt. Reverse logic. Run in while others are running out

ICO's are pretty much dead in the water right now as the regulator has waded in. There's going to be a need for further clarity before it re-emerges.

Tinder Surprise

who pulled out the stopper?

q85dw7osi4lebg

Healthy pull back, still up 54% in 4 weeks.

Tinder Surprise

Gerald Obedient Manicurist wrote: »

Healthy pull back, still up 54% in 4 weeks.

True!

still have some FIAT on exchange that I missed the last dip with (ohh those $85 ETH will haunt me forever ) so now back in the game with when to pull the trigger, or not.

Grumpypants

It has been tracking pretty close to its historical charting. It predicted this false dawn, and another crash from now to the end of Jan. Even below the previous low. But that is then the final bottom and it is a slow burn to 2023 and 300K+

Either way I sold out 40% of my holding at around €120 for ETH and will hopefully buy back in. Anything under €100 will be nice. We will never see sub 100 again.

Tinder Surprise

Think its safe to say that BTC inverse head and shoulders that has been flirting with us now for over a week is well and truly dead in the water

smacl

Grumpypants wrote: »

We will never see sub 100 again.

Why not?

Grumpypants

smacl wrote: »

Why not?

The next crash in a few years will be from a much higher ATH that the bottom will be about 1k.

TallyRand

Grumpypants wrote: »

The next crash in a few years will be from a much higher ATH that the bottom will be about 1k.

Fair enough so

The Enbalmer

smacl wrote: »

Grumpypants wrote: »

We will never see sub 100 again.

Why not?

Because of the 14 investor emotions he's stuck on Denial.

grindle

Grumpypants wrote: »

The next crash in a few years will be from a much higher ATH that the bottom will be about 1k.

Don't count this year out, it could be another huge downer! Retail won't buy in until it's being shilled in the mainstream again - at which point we'll know to sell.

Truckermal

grindle wrote: »

Don't count this year out, it could be another huge downer! Retail won't buy in until it's being shilled in the mainstream again - at which point we'll know to sell.

Waffle.com :pac:

el diablo

Grumpypants wrote: »

It has been tracking pretty close to its historical charting. It predicted this false dawn, and another crash from now to the end of Jan. Even below the previous low. But that is then the final bottom and it is a slow burn to 2023 and 300K+

Either way I sold out 40% of my holding at around €120 for ETH and will hopefully buy back in. Anything under €100 will be nice. We will never see sub 100 again.

Brave call. I'm certain ETH will go below $100 again. Probably in the coming weeks/months.

Truckermal

el diablo wrote: »

Brave call. I'm certain ETH will go below $100 again. Probably in the coming weeks/months.

All going up again right now?

q85dw7osi4lebg

300k bitcoin would = retirement

Grumpypants

el diablo wrote: »

Brave call. I'm certain ETH will go below $100 again. Probably in the coming weeks/months.

Im talking about post 2023 we wont see dub 100 again. We might see 60 before Jan is out.

JJJJNR

el diablo wrote: »

Brave call. I'm certain ETH will go below $100 again. Probably in the coming weeks/months.

definitely in weeks.

If there was a run on the banks a quick exit would be to transfer everything into an exchange, and buy as much crypto as you can.

Might be good to have a bit as back up for the doomsday scenario.

lsjmhar

Crypto is dying. Not one project has delivered a usable project so any investments in this area is the preserve of lunatics. Complete ponzi scheme. That is why the price is down +80%. Nobody investing in imaginary money. Also, but $Vites, the coin for all future freelance workers!!!