This sounds a lot like victim-blaming.
Thrag
3628
Hmm, that second link didn’t preview. It’s worth a click. My favorite part:
Liquidators would be especially active and spamming the liquidate function, which has been known to be a factor causing Solana to go down in the past.
Kind of hopeful, actually, but only just; the powers that be know that isn’t a stable situation politically or economically if they don’t change the system.
And this particular bubble crashing along with a manufactured severe crisis could be a trigger too. Whether for better or worse, I can’t say.
Timex
3631
No, the market taking is hurting crypto, not really the other way around.
Crypto isn’t real money, dude.
morlac
3632
And yet it is used as liquidity and collateral by the big boys buying and shorting stocks on Margin. Think what you want but we’re beyond the it’s just monopoly money stage.
Aceris
3633
No, it really isn’t.
We are going to enjoy celebrating this toxic pyramid of ponzi schemes go as close to zero as it possibly can. If that offends your delicate sensibilities then I suggest not reading the thread.
Won’t somebody think of the crypto bros?
I’m retired. It looks to me as if the market has lost the last 2 years of growth. It’s less for me, because I’m retired, so my holdings are a bit more conservative. Losing the last 2 years of growth is suboptimal, sure, but I can’t say that what has happened is going to make much difference to my 40-year retirement plan odyssey.
morlac
3636
Awesome you all enjoy yourselves then. Hope it brings you the joy you need.
But they spent so much time telling us how smart they are and how stupid we are for not going all in! Those of us without crypto holding have been proven to truly be the bigger fools.
Hahahaha, no it is not. No bank (except maybe that dodgy Bahamas one that Tether uses), would accept crypto as collateral for a margin loan against shares. They take cash, cash equivalents, and, you know, shares.
To the extent “big boys” are playing crypto, which is still not very much, it’s as a speculative bet, not as liquidity, for the obvious reason that it’s not liquid and it’s highly volatile.
Wait, what happened to this?
Are they? It’s not like you retire and instantly have to cash out all your investments.
Lantz
3642
People retiring soon should have already moved their portfolio towards more conservative investments and the Fed is raising interest rates so those safe investments like Treasuries have increased value.
Not saying that it’s a great situation but it’s not an overnight crash that didn’t give people a chance to be conservative if that’s what they wanted.
KevinC
3643
Your reaction in this thread makes it seem personal in some way.
Crypto is nothing but ponzi and pump and dump schemes. Environmentally damaging ones at that. The last thing we need right now are miners sucking down all the electricity they can get their hands on.
Do some mom and pops have investments in these scams? I’m sure they do. If only crypto had died five years ago, just think of how many of those mom and pops and near-retirees (who would keep their money in one of the most volatile “investments” around if they’re retiring soon?) would have been spared. Better now than five more years down the line.
Anyway, I’m not to going to feel bad when I see crypto tank. Point me to a retired couple who got scammed and I’ll have plenty of sympathy but I have none for the ecosystem as a whole.
ShivaX
3644
This is my reaction to that:
The Boys Spoiler
If they weren’t such cunts they would be somewhat sympathetic.
Instead they were the biggest cunts ever, so everyone is going to laugh at their arrogant stupidity.
“My thing that’s too good to be true isn’t good!”
Shocking.
And it’s not pulling down the market. Covid recovery and a literal war is.
The market is pulling down crypto because it has no roots, so once the market tugged, well it just went over the cliff instead of giving the market any leverage.
Scuzz
3647
That is my outlook as well. I retired last year and my retirement funds are real conservatively placed. If I needed the funds today it would hurt, but I have time for them to recover and history shows that they will.
