OT: Oh look, another WEF conspiracy theory becomes reality.

Leave it to Canada to lead the charge. Color me shocked.

https://i.redd.it/473mmkjdiw691.jpg
https://twitter.com/EllisDon/status/1535293162221998083?cxt=HHwWhsCgheW_us4qAAAA

Plenty.  *shrug*  So what.  Every crash drives away some people who were in earlier.  The ones who wind up posting wildly distorted sob stories titled “crypto ruined my life!!!!” on social media.  The next wave of bitter ex-coiner nocoiners.

Reasonable Bitcoiners won’t flip out like that—although the adjustment may be difficult, given the factors I have previously mentioned.

And most people have not yet touched Bitcoin.  For them, there is no “again”.  Why would or wouldn’t they touch Bitcoin in the future?

By analogy, it is a truism (and true) that women are generally attracted to strength—repulsed by weakness.  The strong man knows his strength.  I speak not of swaggering empty conceits, but rather of self-confidence.  Self-confidence is contagious—as are depressiveness, indecision, and panic.  ...Well, so as for women—so as for everybody.  The strong man who attracts women is also a leader of men; everybody responds to strength.

In my sojourns in altcoinland, I have oftentimes observed that altcoiners are either impressed by Bitcoin, or jealous of Bitcoin.  Bitcoin, as in “Bitcoin dominance”.  Hmmm.

somac., your sharp instincts and some of your gut predictions saved me from a fourth liquidation, and were one of the decisive factors for me to get out of debt now, at all costs.  I thank you for that.  I would be wrecked beyond wreckage by now, if I had not been paying extra attention to your posts.

Your personal text is so awesome.  An inspiration.

Now, I need to ask you:  Do you believe in your heart of hearts that you hodl something desirable?

If yes... who cares about all the people who gave in 2015, “Bitcoin is dead.”  Or now, maybe worse—eh.  I just want to think about how to get out ahead of whatever plans there perhaps may be to crack Bitcoin economically—perhaps as practical support for a new narrative equalizing it with POS shitcoins, then deprecating it.  Refocus on what makes Bitcoin better.  Think of a brighter future.

Meanwhile, if it bottoms at $17k or $15k or $OH DEAR HEAVENS I CAN’T BELIEVE IT, I’ll just be laughing and munching popcorn.  As I did in previous crashes—I got my diamond hands back, now that I have exorcised the mind-destroying, asset-destroying, soul-sickening influence of that damn margin account.  So, this crash is worse.  Whatever.  1 BTC = 1 BTC.

(Further reply to you intended, but I am exhausted as hell after what I did earlier...  The last time that margin account will ever drain my personal energy together with my money.  I may come off as unintentionally brusque; please do not misinterpret this post as being flip towards you.)

---

But we are.

By analogy, on a personal level, I am in utter disbelief that I lost most of my bitcoins.  When I look at my wallet, I know that I “just shouldn’t be here”.  It should never have happened.  But it is the reality.  Living in shock, numbness, and denial after I was liquidated down to 0.5 BTC was really what got me crushed down to 0.05 BTC.  By failing to acknowledge the reality and react constructively, by default I took the path from bad to worse.

So, anyway, here we are.  Where to go from here?

FTFY  

The Fed actually CREATED the insane inflation that we are seeing by printing 30+% of all U.S. fiat in existence in less that a year and shoving that out into the world.

And now they supposedly want to tame the inflation they themselves created? They can fuck off.

All they are going to do by raising rates is finally get the massive global layoffs they didn't get with Covid and pushing mandatory vaccines.

All by design.

Adam Back still sees 100k possible by eoy
https://twitter.com/adam3us/status/1537532815478243329?t=U4wAtpfr4aRfvBXZxu0NJg&s=19


5x not impossible in half a year, but sounds quite extreme... however we all know, this is Bitcoin and extreme it is...

You could donate it to Dabs if you don't want it. As he told me, he is in an uncomfortable financial situation and could use any and all help. Maybe WO should help him out?

Well...

If you want to mine with weird technology, might as well go with the weirdest "official" one...

Transmit your packages with pigeons...

https://i.imgur.com/t16cHbz.jpg

IP over Avian Carriers is a thing, more details available here: https://en.wikipedia.org/wiki/IP_over_Avian_Carriers

Doesn't help at all in the current environment.

https://i.imgur.com/MzK8SVs.png
https://twitter.com/BTC_Archive/status/1537044328639520770

If you search on Google for "Why Bitcoin is falling" you would find dozens of articles full of BS explaining to you nothing, so let's keep it short and sweet:

• The collapse of Luna and UST is one reason
• During the collapse Tether (USDT) hit $0.95 - it could happen again and this time go south
• Bank run on Celsius - the model of lending/high interest doesn't work well if central banks around the world raise interest rates and make it unattractive to look for such products as a result
• BlockFi and Crypto.com cutting off 20% of its work force:
  https://www.theverge.com/2022/6/13/23166028/blockfi-crypto-com-layoffs-cryptocurrency-defi-slump-halts
• Binance US sued over promotion of Luna and UST:
  https://decrypt.co/102813/binance-us-sued-over-promoting-selling-ust-and-luna
• Binance in general is under lots of scrutiny, the SEC is investigating its currency - BNB, the IRS earlier launched a probe against them:
  https://www.bloomberg.com/news/articles/2022-06-06/us-probes-binance-over-token-that-is-now-world-s-fifth-largest

All in all, a big crash can come from either Binance or Tether's direction (or maybe USDC) - if the US govt would want to stop the use of USDT/USDC tokens - they can do it at any given moment!

Tether ‘Transparency Is Needed’ Following Terra’s UST Collapse: Analyst
https://www.coindesk.com/layer2/2022/05/24/tether-transparency-is-needed-following-terras-ust-collapse-analyst/

All in all - there is no trust in the system, and when there is no trust - there would be a crash in the price, "because markets are ruled right now by fear" (Alessio Rastani on the BBC, when the Eurozone was in troubles).

JUST IN – Brazilian Congressman introduces bill to recognize bitcoin and crypto as means of payment 🇧🇷


Source: https://twitter.com/BitcoinMagazine/status/1536451596640473090

remember "the herd is coming" ?  

This is what it looks like when they're leaving ...


welcome to 21k...  probably last cycle's ATH next...   100k EOY