# The Rise and Fall in Bitcoin Value **URL:** \ **Category:** Out Of Pod Experience\ **Created:** [January 18, 2022, 1:41pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290 "2022-01-18T13:41:44Z")\ **Posts on this page:** 20\ **Page:** 26
**Author:** ![Nana\_Skalski](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/nana_skalski/32/489985_2.png) [@Nana\_Skalski](https://forums.eveonline.com/u/Nana_Skalski)\ **Post date:** [May 15, 2022, 9:17am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/501 "2022-05-15T09:17:28Z")
> [@Karak\_Terrel](#): > > That makes zero sense What makes zero sense? That people were overtaken with hype and speculation and you can see less and less people understand what it actually is, and more that just want more money? Thats human behavior, greed is fueling them. ---
**Author:** ![Aaron](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/aaron/32/379788_2.png) [@Aaron](https://forums.eveonline.com/u/Aaron)\ **Post date:** [May 16, 2022, 3:19pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/502 "2022-05-16T15:19:39Z")
> **[FTX's billionaire chief says bitcoin has no future as a payments network- FT](https://finance.yahoo.com/news/ftx-chief-says-bitcoin-no-042538295.html)** > > Bitcoin, the world's largest cryptocurrency, is created by a process called "proof of work" that requires computers to "mine" the currency by solving complex puzzles. An alternative to the system is called the "proof of stake" network, where... Even a billionaire CEO of a crypto exchange doesn’t understand what Bitcoin is. He thinks it has no future as a payment network. Bitcoin is a payment network. It’s annoying when key people have stupid opinions. ---
**Author:** ![Emotional\_Support\_Clown](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/emotional_support_clown/32/310422_2.png) [@Emotional\_Support\_Clown](https://forums.eveonline.com/u/Emotional_Support_Clown)\ **Post date:** [May 16, 2022, 3:46pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/503 "2022-05-16T15:46:15Z")
It’s called attention seeking, Michael O’Leary of Ryan Air does it all the time. Boeing likes it because they sell planes everytime he opens his gob. ---
**Author:** ![Nana\_Skalski](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/nana_skalski/32/489985_2.png) [@Nana\_Skalski](https://forums.eveonline.com/u/Nana_Skalski)\ **Post date:** [May 16, 2022, 8:23pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/504 "2022-05-16T20:23:32Z")
Its an article how someone said what was already known that its inefficient and energy hungry for what it provides. Its like someone would want to win the formula 1 race in a hauler from 1950. You can bet, you can gamble, you can speculate, but algorithm is what it is. ---
**Author:** ![Emotional\_Support\_Clown](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/emotional_support_clown/32/310422_2.png) [@Emotional\_Support\_Clown](https://forums.eveonline.com/u/Emotional_Support_Clown)\ **Post date:** [May 16, 2022, 8:27pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/505 "2022-05-16T20:27:30Z")
> [@Nana\_Skalski](#): > > its inefficient Yeah, that’s why it takes 3 days or so to “clear” payments with bank cards. These systems are also “pull” based payments, crypto is “push” based payments. That’s why they don’t like it (amongst other reasons). People forget to factor that into their numbers of banking efficiency but it suits their agenda to say “banking is more efficient”. Even with stock markets we have T+2 clearing on trades (it was T+5 before, still can’t even get to T+1, still testing “real time” settlements), and that clearing is a global monopoly company. The old “establishments” won’t change, unless forced. That’s what Bitcoin and crypto did. Brought dissruptive change. Also, the banks send transaction information to the state if it’s over a (rather small) amount on top of yearly reporting, so there’s threshold and algorithmic alerting reporting and yearly submissions. That data is sitting waiting to be exposed in a leak, it’s just a matter of time and oh boy that’s sensitive information. It’s PII and it’s the jackpot. Not to mention the travel rule data. If you want to have a scandal on bad privacy invasive regulation, that’s how to do it. ---
**Author:** ![Karak\_Terrel](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/karak_terrel/32/373453_2.png) [@Karak\_Terrel](https://forums.eveonline.com/u/Karak_Terrel)\ **Post date:** [May 17, 2022, 4:51pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/506 "2022-05-17T16:51:17Z")
Shitcoiners always conveniently forget about the lightning network. He is probably heavily invested into some other project that sells that false narrative. This guy also knowingly and actively pushes crypro ponzi schemes. ---
**Author:** ![Emotional\_Support\_Clown](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/emotional_support_clown/32/310422_2.png) [@Emotional\_Support\_Clown](https://forums.eveonline.com/u/Emotional_Support_Clown)\ **Post date:** [May 17, 2022, 5:59pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/507 "2022-05-17T17:59:08Z")
Eventually the pump is gona run out of power ![image](https://global.discourse-cdn.com/eveonline/original/4X/c/f/1/cf17f7d3ff2d0ec56504ab1b2fbd7e18ecf626b1.png) Figure 1: Money stock and SP500 ---
**Author:** ![Aaron](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/aaron/32/379788_2.png) [@Aaron](https://forums.eveonline.com/u/Aaron)\ **Post date:** [May 17, 2022, 11:41pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/508 "2022-05-17T23:41:03Z")
[https://www.bloomberg.com/news/articles/2022-05-14/whereabouts-of-terra-s-bitcoin-reserve-a-mystery-after-transfers](https://www.bloomberg.com/news/articles/2022-05-14/whereabouts-of-terra-s-bitcoin-reserve-a-mystery-after-transfers) [![](https://global.discourse-cdn.com/eveonline/original/4X/c/8/4/c840a2fdfdadd569ba4ddc62167ebb404c1274df.jpeg "TERRA LUNA $3.5 BILLION RESERVES MISSING? WHERE DID THIS GO? CONSPIRACY THEORIES GOING CRAZY...") ](https://www.youtube.com/watch?v=rS1iVYTKQ6I) Lots of people have lost their entire life savings investing in terra, $3.5 billion in BTC which was used as a reserve currency for terra has been moved to other exchanges, hopefully it will be used to pay back the people who lost money. Some are speculating Do Kwon has stolen the money. I hope lessons are learned here, too many people put everything they had into this and I think it was stupid that they indirectly invested in BTC when they could have made a small humble investment in BTC directly themselves. Direct BTC investment is still a very good thing as it seems to hold up well in a recession, a pandemic and a war, I really like the way it seems to meld with the worldwide economy and it’s value represents the state of the current world. I use GPU’s for my crypto mining and I am not panicking or looking to sell my GPU’s or shut down my operation. I am actually still very happy with it and very happy to make it a part of my lifetime employment. I’m very excited about the new RX 7600 XT release. It’s so annoying that people are so greedy with their investments despite being warned about volatility, this creates a false picture because at the first sign of trouble almost all the investors wanted to pull out and put their money into a less volatile investment. If an investor has £1 million life savings why on earth would they put all of it into Terra?? Why not use the million and buy £150k BTC and then invest the other £850k in property??? More people than ever are looking to rent and I’m sure there is a nice monthly earning for anyone renting a series of properties. One must have a good sense of what people need as this will always be a good investment. This really does look bad for crypto but I would still argue that this is more of a human error, in this day and age a business plan must consider when the economy is good AND when it’s bad. From this day forward any investment I take on I will ask myself straight…“Will I withdraw all of the money from the investment if the economy goes bad?” If the answer is yes then I will not invest, I think I will definitely follow this way of doing things and I’d hope that more people do so as well because it will help future investors get a better idea of what to invest in if they know everyone in being careful. ---
**Author:** ![Aedaxus](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/aedaxus/32/393915_2.png) [@Aedaxus](https://forums.eveonline.com/u/Aedaxus)\ **Post date:** [May 18, 2022, 8:10am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/509 "2022-05-18T08:10:08Z")
> [@Karak\_Terrel](#): > > Decades of money printing has inflated all the asset to such insane levels it will be brutal if they correct. There are corrections every few years, that’s basic knowldge. Don’t troll the guy. Even if he gets on your nerves. 😉 Good explanation on the other stuff. ![image](https://global.discourse-cdn.com/eveonline/original/4X/5/a/a/5aaade7b9a5ed3e4eaf9aa47db2eb1e4f666f26d.png) ---
**Author:** ![Aedaxus](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/aedaxus/32/393915_2.png) [@Aedaxus](https://forums.eveonline.com/u/Aedaxus)\ **Post date:** [May 18, 2022, 8:16am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/510 "2022-05-18T08:16:27Z")
> [@Aaron](#): > > It’s so annoying that people are so greedy with their investments despite being warned about volatility, this creates a false picture because at the first sign of trouble almost all the investors wanted to pull out and put their money into a less volatile investment. > [@Aaron](#): > > this is more of a human error, There are a lot of desperate people, that have savings, and these days they are afraid of the “inflation” and then some “crypto gorillionaire” comes along and tells those people how to “not loose money” by following his “THIS IS NOT FINANCIAL ADVISE” scam? I’m sorry I don’t think the “investment skilled”-poors as you call it, I do hope you call it that, are anywhere near greedy, the are desperate and an easy victim. ---
**Author:** ![Aedaxus](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/aedaxus/32/393915_2.png) [@Aedaxus](https://forums.eveonline.com/u/Aedaxus)\ **Post date:** [May 18, 2022, 8:20am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/511 "2022-05-18T08:20:04Z")
> [@Emotional\_Support\_Clown](#): > > Yeah, that’s why it takes 3 days or so to “clear” payments with bank cards. This was explained before. It takes time to check (as good as they can) if your money does not go to a terrorist organisation or other criminals. Crypto doesn’t do that, otherwise, the owners of the coins, which if you look it up are generally people that failed to abide by the rules in the economical market, would not be able to receive your REAL LIFE MONEY, which for some weird reason they crave… Crypto is like banking without the annoying rules and regulations. And yes, like you say, with banks, the customer is protected, with crypto the shady scammer is protected. It’s two sides of the same coin. ---
**Author:** ![Emotional\_Support\_Clown](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/emotional_support_clown/32/310422_2.png) [@Emotional\_Support\_Clown](https://forums.eveonline.com/u/Emotional_Support_Clown)\ **Post date:** [May 18, 2022, 8:20am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/512 "2022-05-18T08:20:37Z")
Hypocritical given the state is funding and backing terrorists right now. That argument is a fail from the starting gate. One day a group is on a list, the next day they’re useful and clean. ---
**Author:** ![Aedaxus](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/aedaxus/32/393915_2.png) [@Aedaxus](https://forums.eveonline.com/u/Aedaxus)\ **Post date:** [May 18, 2022, 8:21am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/513 "2022-05-18T08:21:14Z")
> [@Emotional\_Support\_Clown](#): > > the state The state is not the banks. PS: I forgot a “objection! hearsay” 😛 ---
**Author:** ![Emotional\_Support\_Clown](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/emotional_support_clown/32/310422_2.png) [@Emotional\_Support\_Clown](https://forums.eveonline.com/u/Emotional_Support_Clown)\ **Post date:** [May 18, 2022, 8:21am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/514 "2022-05-18T08:21:32Z")
The banks follow state regulation. Ask Canada. ---
**Author:** ![Aedaxus](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/aedaxus/32/393915_2.png) [@Aedaxus](https://forums.eveonline.com/u/Aedaxus)\ **Post date:** [May 18, 2022, 8:22am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/515 "2022-05-18T08:22:02Z")
Unlike crypto, who operate in the criminal world. ---
**Author:** ![Emotional\_Support\_Clown](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/emotional_support_clown/32/310422_2.png) [@Emotional\_Support\_Clown](https://forums.eveonline.com/u/Emotional_Support_Clown)\ **Post date:** [May 18, 2022, 8:22am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/516 "2022-05-18T08:22:23Z")
I think there is studies proving the hard currency is the US dollar, not crypto. In fact crypto scares them away. You see stacks of Dollars and Euros in criminal hoardes, not crypto wallets. They print counterfeit Dollars and Euros, not Bitcoin. British Pound is the most counterfeitted currency in the world. ---
**Author:** ![Aedaxus](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/aedaxus/32/393915_2.png) [@Aedaxus](https://forums.eveonline.com/u/Aedaxus)\ **Post date:** [May 18, 2022, 8:25am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/517 "2022-05-18T08:25:17Z")
Now they can print it with a PC and don’t need to print it? Bitcoin has x amount of coins, BitcoinAltCoin1 has x amounty of coins… it’s not finite. ---
**Author:** ![Emotional\_Support\_Clown](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/emotional_support_clown/32/310422_2.png) [@Emotional\_Support\_Clown](https://forums.eveonline.com/u/Emotional_Support_Clown)\ **Post date:** [May 18, 2022, 8:25am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/518 "2022-05-18T08:25:30Z")
How many have YOU printed? Creating a digital token is not a crime. ---
**Author:** ![Aedaxus](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/aedaxus/32/393915_2.png) [@Aedaxus](https://forums.eveonline.com/u/Aedaxus)\ **Post date:** [May 18, 2022, 8:26am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/519 "2022-05-18T08:26:27Z")
1 BTC and a little ---
**Author:** ![Emotional\_Support\_Clown](https://sea1.discourse-cdn.com/eveonline/user_avatar/forums.eveonline.com/emotional_support_clown/32/310422_2.png) [@Emotional\_Support\_Clown](https://forums.eveonline.com/u/Emotional_Support_Clown)\ **Post date:** [May 18, 2022, 8:26am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/520 "2022-05-18T08:26:53Z")
According to your arguments you’re a criminal then. [Previous page](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290.md?page=25) [Next page](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290.md?page=27)