THE CRYPTO CRASH IS REAL I REPEAT THE CRYPTO CRASH IS REAL
If you think you've heard this song and dance before, this time I assure you it is different. Terra Luna, colloquially called "stablecoin" because it was maintaining 1-1 value with the US dollar, has plummeted below 30 cents. It has basically lost 90% of its value in 24h. People are literally writing suicidal posts on the subreddits and offering emotional support to eachother. But who cares about any of that shit.
Waitchads, we're finally going home. After all these years. The GPU prices will plummet to way below their MSRP, and we'll be able to nab a respectable GPU. Our days of waiting have paid off. Just a little more now...
>crypto gets normiefied and pajeetified >oldfags with half a brain see this >pull out of the pyramid scheme with big profits and tank the normies Wow, that was completely unpredictable.
The funny thing is that the same faggots will come here in like 6 months or so and smugly pretend that they totally are the ones that made money
Adrian Brown
I'm also wondering if it'll dip further
Henry Baker
I literally just told you to not invest brainiac.
Carson Bell
Most cards are hundreds of dollars cheaper than they were 6 months ago and easy to find. Have you even looked?
Cooper Cruz
A whole bunch of celebrities did BUY BLOCKCHAIN commercials during the super bowl. I hope people on twitter are linking pics like yours to all the ones who did.
I got banned from their sub for making a post that read "lmfao". You should laugh at them, and let them know.
Caleb Wilson
buy the dip dumbasses, this is your chance to finally get in on the action
Jonathan Watson
>money go down >people post pink faces and cry
Samuel White
crypto is going down and ultralib hustlers can't cope
Landon Bailey
People bought meme crypto hoping to make money. Meme crypto goes to shit very very fast because of market manipulation. People lose a lot of money and are sad.
Andrew Howard
Coinlets are finally getting their wish.
Brayden Price
no rush, the bear market is going to last a while
Daniel Taylor
call me when Tether crashes that’s when you’ll know shit hit the fan
Can it recover? Should we buy Luna now and get rich later bros? Please respond
Carter Sullivan
Okay. Hopefully this kills companies spending all their money on NFT stuff like gscgw, squenix, ubisoft, etc.
Liam Smith
Thank fuck.
Evan Kelly
Should I just keep waiting to buy in until it bottoms out and starts to rise for a couple days?
Asher Lewis
>can it yes >will it no lol if you want to buy, buy into something slightly more stable. But I'd still advise against because of the flood of sanctions hitting crypto as of late, we have no idea when it's gonna stop, and this panic spiral is just making things worse for right now.
Christopher Evans
Suicides and kike media reporting might be the best bottom signals
John Nelson
pretty much, walked into best buy yesterday, 3070ti's just hanging out, 12GB 3060's with 750W PSU on newegg for $450, shits back to normal for the most part.
you can't really mine with consumer GPU's anymore either
Aiden Rodriguez
How long can retards drag this hot potato game? Jesus Christ how many pink fields takes to exterminate them all?
Zachary Adams
You expect companies not to be retarded lmao did you not see square enix sell their western studios + their IPs for pennies just to invest it into NFTs.
Gavin Cooper
No, it’s only just beginning
Andrew Cook
Cant even view Luna in tradingview. Coin crashed too hard
Jonathan Perry
Delicious cryptonigger tears, soon their pretend monies will be worth the same as their lives
Robert Myers
>mfw some dumbass buys a used GPU online that's been cooked to shit in a crypto farm for months nonstop and wonders why it runs games like ass
I feel for anyone who lost $50k or less, but anyone who lost more deserves it and I hope their suffering continues.
Isaiah Ross
what part of INVEST IN WHAT YOU"RE WILLING TO LOSE" do normalniggers just not understand?
Isaac White
>highfleet overlay KEK
Aaron Foster
crypto is a threat to the US dollar, it just took the old fucks a while to wake up and realize it
Luke Ward
So what happened? Last I checked everything was floating between 35-45k. Stonks have been down over the past 6mo too. It can't just be the rate hike, can it?
Samuel Phillips
>le jews did this typical crypto cope
Adrian Hill
>believing in stable anything economy >believing you can actually peg a "currency" to anything Man people are really economically illiterate. Even during the Gold Standard era things went wrong and you can't really get more stable than that.
Aaron Sanders
Look at historical data and decide for yourself. The rise is often just bait.
Basically, UST is a shitcoin that was supposed to be valued at $1 USD each. It's not the first "stablecoin", but unlike the more popular ones its value wasn't backed by external reserves of real world assets, but it used other buttcoins as collateral and employed some computer wizardry to keep the price in check. The market dropping meant that the reserves fell in value and the algorithm could no longer keep the price in check, which then triggered a bank run where people ran away screaming and dumped the value even further in the process, further increasing panic and hastening the dump. And since all crypto is more or less interconnected and the LUNA ecosystem was a fairly large one, it had massive effects on the market at large and now everything's on fucking fire.
Matthew Jenkins
these crypto tears are delicious
Easton Morgan
Did I miss another Pink Meltdown™ at /biz/ or am I still in time? The Wojak Index is not working.
Colton Sanders
>sell everything >create panic >buy it all back >wait >... >sell everything
Christopher Lee
remember how they were mocking gamers, now it's our turn
Jace Gray
Layer-1 shitcoin called Luna and its algorithmic dollar stablecoin UST were effectively exploited for billions of dollars Its founder had about 80k Bitcoin in reserves to ensure UST was pegged 1:1 to dollars and was forced to sell most of his Bitcoin, and as one would expect 80k Bitcoin being dumped into the open market caused a widespread crash
Jacob Morgan
crypto is backed by nothing, there's a shitload of incoming famine due to the water crisis, there's a WW3 on the near horizon, crypto was mostly hedged by russians to try and upset the US dollar, etc.
there's a lot of bad shit coming down the pipeline, covid was nothing compared to whats coming.
Jason Turner
Not as bad as a few years ago, but still laughable
Ayden Edwards
I have like $58k I've just been letting sit in a savings account for years getting like 30 cents of interest a month how stupid am I
Why would you gamble your entire net worth? This retard deserved it.
Ryan Thomas
Thanks. I totally missed it was a sticky from my sheer hatred of frogs.
Jordan Morgan
>Cardano HOW THE FUCK IS THIS PIECE OF SHIT STILL A FUCKING THING HOLY FUCK HOW
Jaxon Wood
Most miners underclock their cards to maximize yields and minimize energy use
Ryan Morgan
>create a decentralized currency to OWN the fiatfags >proceed to peg and connect your "decentralized" currency to various markets, exchanges and fiat currencies what the fuck did they mean by this?
>80k Bitcoin being dumped Well that explains it. I guess we should really fear those "$500,000,000 Bitcoin wallet moved for first time in 9 years" articles.
Jeremiah Watson
>UST crashed >Not USDT Meh, wake me when that scam tether finally goes bellyup.
Mason Bailey
Bitcoin is extremely unstable and volatile, you have a very high chance of placing 1000 dollars there right now and have only 100 within the span of a day.
