Comment by rvz | Hacker News Reader

Comment by rvz | Hacker News Reader

   Magnificent and as expected. We needed a 'crash'.

It is what we need to remove all the useless cryptocurrencies and projects that are only there to pump each other bags and exit scam retail investors. This is why you have people telling others to 'HODL' or 'never sell' with wild predictions of BTC going to 100K or DOGE going over $1. [0].

This is nothing. This is before the banning, and crackdowns of the other useless cryptocurrencies and the tether scam. So let us sit back and watch it go even lower.

One more thing for those who bought BTC at the top with their life savings: [1]

[0] https://news.ycombinator.com/item?id=27046019

[1] https://news.ycombinator.com/item?id=27206314

Like you I've predicted 20 of the last 3 crashes.

I know people that bought at the peak in 2019 at $20k despite me laughing at them. They sold them last year, more than doubled their money and had a nice holiday. Don't know many that bought last year other than those that just buy every month come rain-or-shine.

Everyone knows bitcoin is nothing more than greater-fool gambling with a side effect of enabling a lot of criminal computer activity (ransomware, sextortion, etc).

Thank goodness criminal computer activity didn't exist before cryptocurrency--had me worried. But once we get rid of cryptocurrency (soon), those problems are solved thankfully.

Ransomware really didn't seem to exist on a commercial level like it does now. Malware sure, but not Ransomware on the scale where the culprits have tech support to help the victims pay.

Doge hit over $0.50. That is absolutely insane, so insane that I thought it would never happen and I cached out my doge years ago for a small 2x profit. The markets don't make sense and no matter how you play it you are fool.

How do you see crypto reacting once the fed hikes rates? Shouldn’t btc be deflationary

Crypto had its original run-up in 2017...when the fed raised rates 3x...

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