AMD down -93% in 2002, -96% in 2009 AMZN, down -95% in 2002 NVDA, down -95% in 2002, -85% in 2009 AAPL, down -82% in 2002
The great recession that wasn't supposed to happen, (surprise), is happening. Enjoy the discounts! If this turns into another GREAT Depression, then double-down on those who are too big to fail.
No but 95% of the shitcoins will disappear which is a much needed cull in the space. For those that offer real utility I see it as a chance to load up my bags with risk capital for cheap.
Your rationale for holding BTC might be a minority view. I think for many, it's still all about speculation (NGU/get rich quickly). I recall you saying you invested in silver after the GFC, presumably for similar reasons. I bought into that same narrative too, which turned out to be a very poor investment. Personally, I can't see BTC changing from being a speculative asset any time soon. The idea of the general public sheltering their wealth in it is a long way off.
Talk about collapse. Crypto founder puts "crypt" into "crypto". ‘Deepest sadness’: Crypto founder Tiantian Kullander dies ‘unexpectedly in his sleep’ at 30 https://www.news.com.au/finance/bus...0/news-story/60ecb8f7e50a4f9c2333b986b0fa0f20
How low can the Bitcoin price go? Bitcoin is a "buy the dip" opportunity with the BTC price at $16,000 or a bear market capitulation waiting to happen, depending on who you ask. https://cointelegraph.com/news/how-low-can-the-bitcoin-price-go
Good memory. I think with precious metals, the problem is that they are highly manipulated. Too much of paper gold and paper silver. Its not much different actually than what just happened at FTX. 80k bitcoins were on the books that customers supposedly had, and yet FTX owned only about 1 bitcoin. This means that none of this buying hit the actual market and no supply was used up. The simple fact that bitcoin is mathematically limited, and that every single one can be accounted for is a huge leg up on precious metals. I still have the silver and will sell it on a pop, but just having to lose so much on the spread is gonna be sad. With bitcoin, the ability to transfer so cheaply and quickly is yet another benefit it has over precious metals. I do read articles that central banks are still buying lots of gold, so who knows, maybe someone will announce a peg on day in some country, but the future is digital, and the crypto space is really where you want to be I think.