Let's talk about Bitcoins BG, We're doomed!!! The Sky is Falling!!!!!

[tyven]

Via credit card or cards entirely? Seems pretty dumb to let people buy anything investment related on credit. I don't think investment sites let you use a credit card either do they?

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correct. also can't by lottery tickets or gamble with credit cards. it makes sense to do the same for crypto.

[Spicyryan]

Quality post from historically quality poster

Good to see you matching the quality.

[BerenTebogo]

Good read

https://www.reddit.com/r/CryptoCurre...going_on_here/

[Zetanio]

All deleted.

[tyven]

All deleted.

you talking about the stock market again?

[Zetanio]

oh shit it's back.

yeah I am pure cash right now

[Spicyryan]

oh shit it's back.

yeah I am pure cash right now

Now is a good time to get in.

[Zetanio]

Now is a good time to get in.

Not really.

[BerenTebogo]

Sky is falling, etc

Edit: Not my screen

Edit2:

Also, supposed snippet from the upcoming testimony for senate hearing.

[Spicyryan]

Not really.

Unless you believe the market is crashing then yes, why not? This is always the best time to buy even if it is the one people have the most anxiety about. The worst single day in history doesn't mean shit without a crash.

No one knows where the bottom of this dip is, but it be like running scared the other times we had significant drops in the recent past or the last correction. This bull market has recently had what, a month of uninterrupted growth? That isn't sustainable and these corrections will happen. This isn't 2008, we aren't in some economic crisis at the moment.

[darkepyon]

Looks like the SEC/CFTC meeting about crypto was pushed back to next week. The regsters know that time isn't really on the side of the ham-and-egger retail investors like ourselves. They can gin up as much FUD as possible to shake out the weak hands so the suits can scoop it up when/if they get the green light.

[Buffy]

Welp. I won't be checking my retirement accounts today.

[Zetanio]

This isn't 2008, we aren't in some economic crisis at the moment.

See this is where you're wrong.

[Fondue]

Is the housing market gonna crash soon too? I would like to scoop up a cheap house tbh

[Spicyryan]

See this is where you're wrong.

Do tell.

[Zetanio]

See:
Housing Market
Subprime Auto Loans
Student Debt

I'd put my money on Subprime Auto being a domino to start things but either of the three.

Coupled with a soon-to-be weaker UK and a really awful set of domestic and foreign monetary policies being pushed by the White House?

I'm not optimistic.

[archibaldcrane]

https://twitter.com/ShaunUsher/statu...28825318219776

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[Spicyryan]

See:
Housing Market
Subprime Auto Loans
Student Debt

I'd put my money on Subprime Auto being a domino to start things but either of the three.

Coupled with a soon-to-be weaker UK and a really awful set of domestic and foreign monetary policies being pushed by the White House?

I'm not optimistic.

These issues are not what has sent stocks into a dive today. We all know there will be a downturn again. That doesn't mean you should put the money under the mattress waiting for it. Yes, there are issues and there will always be, but today wasn't some beginning of the end. Auto loans for example are much more of a personal crisis and not some economy cratering issue in the wings. Student loan debt is the same, and is nothing new either, thanks Reagan.

The auto loan bubble for example will be a driver of recession as vehicle values will fall, car sales slow, and factories slow, lay off, relocate to cheaper regions like Mexico, etc. We know a recession will one day come, it is just how it works. Make money, lose money, and follow the trend up in the end. Overall, these loans are nothing compared to the subprime mortgage crisis.

Businesses and thus the market like the irresponsible policies pushed by the White House too as they are reducing regulation which makes it easier to do business; despite the obvious costs, to the environment and so on. Which has been driving stocks anyway, and such unfettered expectations and optimism are bound to pull back in the end.

It is easy to get worried about blemishes with the economy or point out issues. You could make the case that the growing income disparity and lack of wage growth is right there on the list too or even the largest threat. Point is there isn't a reason to be out of the market. Especially right now with this sort of temporary downturn.

[archibaldcrane]

What is the auto loan impending crisis that I'm not seeing here?

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[Skyylya]

I was happy with the drop today. My puts i bought last Thursday are doing quite nicely. We'll be below 22k by weeks end. To the moon!

Though my coins are down...