Am I the Only One Laughing My Arse Off at the so Called Crypto-Meltdown \ stacker news ~bitcoin

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Am I the Only One Laughing My Arse Off at the so Called Crypto-Meltdown

376 sats \ 10 comments \ @spiderman 10h bitcoin

Yeah, my LinkedIn and some feeds are full of eye-watering figures on shit-coins dropping my more than 90%, (some coin apparently went form $4 to $0.01 last Friday), traders getting liquidated left and right. And when anyone hears that I mine(d) Bitcoin or run node(s), they think I am one of those crypto guys too.

While I (still) do not understand why Bitcoin would drop in another tariff announcement (I mean, if anything, those announcements show the threats posed by political institution that control the money), I cannot complain about the discount.

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102 sats \ 4 replies \ @nolem 6h

I was chatting to an investment banker a few days ago and I asked her to sum up why she didn't see the benefits of Bitcoin, she trotted out the usual not backed by anything, I didn't disagree with her, we just moved on to another subject. But I bet the next day she had a smile on her face when it dipped ☺️☺️

0 sats \ 3 replies \ @spiderman OP 6h

If it is really a she, then you have to remember that the Bitcoin community is massively male dominated as women find it even more difficult to get it.

And then, as an investment banker, her entire life is built around a business model and narrative to which bitcoin is the kryptonite. Even if she buys it privately, she may even get in trouble with her employer just for talking about it. HSBC, a global banking giant, for example, is extremely strict about it, which is why defence mechanism to protect the narrative (and business model).

Nobody is indoctrinated more than the inner circle of the indoctrinator himself and an investment banker is part of the figurative inner circle.

0 sats \ 1 reply \ @krispy_donkey 5h

HSBC, a global banking giant, for example, is extremely strict about it

Are you able to expand at all? How do you know this?

0 sats \ 0 replies \ @spiderman OP 3h

Part of it, from people who work(ed) in HSBC.

Talked to people who had their payments declined or even account suspended, and it is not difficult to see why given HSBC's public stand on this.

So yeah, they are trying everything they can to put their head in the sand, pretending not to see anything and desperately hoping the status quo continues.

0 sats \ 0 replies \ @nolem 6h

No lies detected

110 sats \ 0 replies \ @DEADBEEF 8h

I hadn’t even noticed the meltdown. I rarely look at the price of Bitcoin or any of the other cryptocurrencies for that matter.

100 sats \ 0 replies \ @035736735e 8h

Correlations appear out of thin air when traders look for quick narratives. The long term thesis for Bitcoin has never been about next Friday’s charts but about a monetary system outside politically managed levers..