# 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:** 30
**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 20, 2022, 6:05pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/581 "2022-05-20T18:05:02Z")
[![](https://global.discourse-cdn.com/eveonline/original/4X/9/8/e/98e72117a2a8112554de0202d92fb2075c99593b.jpeg "How This Man Just Caused a $45 BILLION Crash [Terra Luna]") ](https://www.youtube.com/watch?v=3KZY41SqaTI) ---
**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 20, 2022, 8:57pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/582 "2022-05-20T20:57:49Z")
> [@Aaron](#): > > why do I need to promote Bitcoin? I don’t know why, but here you are. You are on a forum thread about crypto defending it. Not sure what you think you are doing here. Maybe it’s a language barrier or so. ---
**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 20, 2022, 9:05pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/583 "2022-05-20T21:05:09Z")
> [@Emotional\_Support\_Clown](#): > > Bitcoin is self-promoting, no need to do anything, the money printers (central banks) do the promotion work. Let me quote the [bitcoin.com](http://bitcoin.com) site : “[Bitcoin.com](http://Bitcoin.com) directs nearly half of visitors to exchanges, wallet providers, or debit card providers.” Also: > **[Crypto ads are a Super Bowl talker, with floating QR codes and Larry David](https://www.npr.org/2022/02/14/1080237873/superbowl-ads-crypto-bitcoin?t=1653080359359)** > > As cryptocurrencies become more popular, crypto companies are tried to drum up excitement at the Super Bowl. > **[Here Are All the Bitcoin and Crypto Companies Airing a Super Bowl Ad - Decrypt](https://decrypt.co/92442/here-are-all-bitcoin-crypto-companies-airing-super-bowl-ad)** > > The crypto industry is preparing to blitz viewers with commercials during the Super Bowl. Don't drop the nachos. Spoiler; Google exists. ---
**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 20, 2022, 9:12pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/584 "2022-05-20T21:12:53Z")
Warren Buffett is a big promotor of Bitcoin, everytime he opens his gob and says “Bitcoin”. ---
**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 20, 2022, 9:13pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/585 "2022-05-20T21:13:44Z")
> [@Aedaxus](#): > > Bitcoin is not controlled by governments but small corporations ran by anarchists. Their goal is reduce governmental power. pit two governments against each other, get your assets locked away. Imagine a world where that “internationalist” will say "Nah, I’ll keep my power and watch two countries burn. Name those corporations. Show me how they control it. Show me how they can force the 100k of independent nodes out there to accept an update to the software, because that is what control means. > [@Aedaxus](#): > > [Bitcoin Gold USD (BTG-USD) Price, Value, News & History - Yahoo Finance](https://finance.yahoo.com/quote/BTG-USD/) $19 this is clear proof there are 21 million coins that are ‘forked’ from the original limit thus PROOVING there IS NO LIMIT AT ALL and bitcoin printer goes brrrr. How likely do you think this shitcoin will be accepted anywhere as currency? How relevant do you think this actually is? I said it will fade into insignificance, this locks very insignificant to me. > [@Aedaxus](#): > > It’s sad you say I’m lying. I’m not. Everyone can find it. Maybe redefine crypto and say no one is allowed to look beyond BTC and lightning as it would fit your narratiove but regrettable the truth is out there as Mulder would say. Everyone is allowed to invest into whatever shitcoin and scam they like in my opinion. It just has direct financial consequences if you are wrong and don’t understand the new dynamics of this new market for currency. > [@Aedaxus](#): > > ([El Salvador and the Potential for Low-Fee Crypto-Remittances – Institute for Business in the Global Context](https://sites.tufts.edu/ibgc/el-salvador-and-the-potential-for-low-fee-crypto-remittances/)) > Depending on the service, it can be _more expensive_ to send in cash from the U.S. to a bank account in El Salvador (versus cash pickup). > Even more liars! You don’t need a bank account if you receive Bitcoin. In fact, statistics of the app downloads in El Salvador show that that they had 50% more downloads that the amount of people that where previously banked. So although it may not reach everyone yet, it increased the population that can make financial transactions, globally just with their phone, by at least 50%, just by this alone. That is a huge win. > [@Aedaxus](#): > > [Remittances to El Salvador are cheaper without using bitcoin](https://finance.yahoo.com/news/remittances-el-salvador-cheaper-without-144325716.html) > But, how do they fake those data? And you can actually replicate this! Please elaborate how they faked the transactions of your holy ledger! This is complete ■■■■■■■■. Apps like Strike convert UDS to BTC for no fee at all. In fact you don’t even have to convert, because you can just send the dollars and they will do the conversion in the background. So the sender in US can send USD on Strike and the receiver in EL Salvador receives USD on Chivio, but they utilize BTC for the global transaction. And it is instant and has basically no fee attached to it. > [@Aedaxus](#): > > In two years we’ll still be using banks. Yes, but some of them will provide you services around Bitcoin. And once they start with it, they will slowly migrate to moving value over the Bitcoin network instead of the existing legacy systems, because it’s faster, more reliable and trustworthy. > [@Aedaxus](#): > > In two years there will still be governments. Yeah, I don’t see why we would do away with governments, they have an essential role. I just don’t think they have to dictate monetary policy. I believe in the separation of money and state. It’s better for everyone. > [@Aedaxus](#): > > In two years countries will still have their regional/national currencies. Feel free to quote me on that when I’m wrong. I don’t think in two years anything in that regard will change. But I think in 10 years all this currencies will be backed by Bitcoin. > [@Aedaxus](#): > > Still waiting for the day Bitcoin would actually make a profit in a year. Next halving is in about two years, so the next supply shock is 2.5 years out. Patients. I accumulate more in the meantime while they are still cheap. > [@Aedaxus](#): > > I’m actually surprised it keeps on tanking. I’m not, most investors still think of it as digital gold and a risk on asset. Even though they acknowledge it has value they still don’t understand what they are dealing with. > [@Aedaxus](#): > > With a sucker born every day, you guys aren’t doing a good job promoting “the magical currency that will make everyone rich”. It’s not about making people rich, it’s about finally having good money that can’t be corrupted. ---
**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 20, 2022, 9:14pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/586 "2022-05-20T21:14:52Z")
He probably has a bunch of coins. Not his normal investments but i’m sure he’s got a few million in BTC and some alt coins. He won’t say it because he probably thinks it’s going to fail because it cannot be valued by the procedure he uses to analyse the profitability of a company. ---
**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 20, 2022, 9:18pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/587 "2022-05-20T21:18:46Z")
> [@Aedaxus](#): > > Let me quote the [bitcoin.com](http://bitcoin.com) site : > “[Bitcoin.com](http://Bitcoin.com) directs nearly half of visitors to exchanges, wallet providers, or debit card providers.” Bitcoin . com is controlled by a fraud. It’s unfortunate. This isn’t a reliable source for anything bitcoin. Can we stop with the strawman ■■■■■■■■? It’s getting tiresome and I will soon stop posting, because it’s really just wasting my time. ---
**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 20, 2022, 9:20pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/588 "2022-05-20T21:20:48Z")
> [@Karak\_Terrel](#): > > You don’t need a bank account if you receive Bitcoin. In fact, statistics of the app downloads in El Salvador show that that they had 50% more downloads that the amount of people that where previously banked. So although it may not reach everyone yet, it increased the population that can make financial transactions, globally just with their phone, by at least 50%, just by this alone. That is a huge win. Yes, I read that lots of people no longer have to travel for hours just to pay a bill, they use their phone and a BTC app. I’m not sure I’d cope if I had to go through all that. BTC has also helped bring computing and internet to places that didn’t have those things before. Lots of little wins. ---
**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 20, 2022, 9:27pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/589 "2022-05-20T21:27:50Z")
> [@Karak\_Terrel](#): > > Name those corporations. 1 company caused the rise of bitcoin from 30k → 60k I told you before and from what I think is they bought some, waited to let it climb, sol a lot, making everything they invested back and now sell occasionally jut to get even more out of it. Since it’s synonymous I cannot proove anything and the ledger is only usefull by the anonymous owner of millions of bitcoins. > [@Karak\_Terrel](#): > > How likely do you think this shitcoin will be accepted anywhere as currency? At every exchange lol. Bitcoin is also fading, hopefully it has another SINGLE investment firm stepping in to boost the holidays. 😃 But yes, power to “the people”. > [@Karak\_Terrel](#): > > it increased the population that can make financial transactions, globally Good for … El Salvadorians buying vegetables for 2 eh no, 1 dollar. I understand Spanish a little. > [@Karak\_Terrel](#): > > So the sender in US can But they don’t. That’s it, good for you to know better, sad for them to throw money away. Those poor uneducated people can’t become international banking experts, but I guess that’s not important. Don’t yell to me, I’m not doing any US to El Salvador transactions and if I would, I’d ask you for advice as you are knowledgeable. I hope this info one day reaches those who actually needs this info! > [@Karak\_Terrel](#): > > Yes, but some of them will provide you services around Bitcoin. And once they start with it, they will slowly migrate to moving value over the Bitcoin network instead of the existing legacy systems, because it’s faster, more reliable and trustworthy. This would be nice, how do the old systems compare to lightning in comparison of energy use? Not sure if the banks give out that info but it would be nice to know. > [@Karak\_Terrel](#): > > I believe in the separation of money and state. It’s better for everyone. I think we disagree here but I respect your opinion. I hope in the log run what is best for the majority will make it. Whatever it is, even if the old system is not the one surviving. > [@Karak\_Terrel](#): > > I don’t think in two years anything in that regard will change. But I think in 10 years all this currencies will be backed by Bitcoin. I will support it if it turns out to be the best for the majority of the population (whether national or global). > [@Karak\_Terrel](#): > > Next halving is in about two years Good, I think another nuclear reactor will be completed by then. [France’s new-generation nuclear plant delayed again – EURACTIV.com](https://www.euractiv.com/section/energy/news/frances-new-generation-nuclear-plant-delayed-again/) > [@Karak\_Terrel](#): > > It’s not about making people rich, it’s about finally having good money that can’t be corrupted. I always forget that about you, thanks for reminding me. I look up a lot from outside sources and most aren’t good people like you and Aaron. ---
**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 20, 2022, 9:30pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/590 "2022-05-20T21:30:07Z")
> [@Karak\_Terrel](#): > > Can we stop with the strawman ■■■■■■■■? No, because when ‘the average’ person looks for bitcoin they get the adverts from scammers, thus negating the good Bitcoin could do. And as in technology, we need to be careful that the best solution isn’t thrown away as it often is. I don’t have a Betamax recorder 😉 ---
**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 20, 2022, 10:11pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/591 "2022-05-20T22:11:50Z")
> [@Aedaxus](#): > > No, because when ‘the average’ person looks for bitcoin they get the adverts from scammers, If one does not know the only place to buy BTC is a reputable crypto exchange then I don’t think trading in BTC is for them and I would advise they stay as far away as possible. ---
**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 20, 2022, 10:22pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/592 "2022-05-20T22:22:17Z")
> [@Aedaxus](#): > > Since it’s synonymous I cannot proove anything and the ledger is only usefull by the anonymous owner of millions of bitcoins. You mean pseudonymous. Can you at least post to the pseudonymous transaction that facilitated this pump and dump scheme? Doesn’t matter if we can identify your evil corporation. > [@Aedaxus](#): > > At every exchange lol. Bitcoin is also fading, hopefully it has another SINGLE investment firm stepping in to boost the holidays. 😃 But yes, power to “the people”. Do two years instead of just one. > [@Aedaxus](#): > > But they don’t. Yes they can > [@Aedaxus](#): > > This would be nice, how do the old systems compare to lightning in comparison of energy use? I run a system that has the same functionality a debit card has on a raspberry pi. Probably needs a little better hardware if you have more users. But like, not a lot. > [@Aedaxus](#): > > I think we disagree here but I respect your opinion. I hope in the log run what is best for the majority will make it. Whatever it is, even if the old system is not the one surviving. Why not just let the people decide what currency they want to store the work they do in? I don’t want to make fiat illegal, I just want a free market of money. Because I think central control of money is equally damaging like the central control of the economy is. I’m not an anarchist, but I’m definitely like capitalism > [@Aedaxus](#): > > I will support it if it turns out to be the best for the majority of the population (whether national or global). I’m absolutely sure it will turn out to be exactly that. > [@Aedaxus](#): > > Good, I think another nuclear reactor will be completed by then. [France’s new-generation nuclear plant delayed again – EURACTIV.com](https://www.euractiv.com/section/energy/news/frances-new-generation-nuclear-plant-delayed-again/) Yeah, nuclear doesn’t really have a bright future [https://youtu.be/0kahih8RT1k](https://youtu.be/0kahih8RT1k) > [@Aedaxus](#): > > No, because when ‘the average’ person looks for bitcoin they get the adverts from scammers, thus negating the good Bitcoin could do. And as in technology, we need to be careful that the best solution isn’t thrown away as it often is. I don’t have a Betamax recorder 😉 Ok, so equally, the good thing charities do is negated by spam mails that trick people into thinking they are those charities? Because the scammers use their name, they are immediately tainted and responsible for the loss of the scammers victims? ---
**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 20, 2022, 11:11pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/593 "2022-05-20T23:11:43Z")
> [@Karak\_Terrel](#): > > by spam mails The billionaire crypto investor and CEO of Galaxy Digital hasn’t tweeted following the implosion of Luna and Terra last week. He’s not a spam mailer, he’s a “social media celeb”. Those promote the crypto. Many other celebrities are connected with this cryptocurrency. Some of them are 50 Cent, Paris Hilton, Gwyneth Paltrow, Bill Gates, Serena Williams, Floyd Mayweather, Kanye West, and Mike Tyson. And those things are what makes it unbelievable. If I wanted advice on music I’d ask 50 cent. If I wanted advise on operating systems for my company I’d ask Bill Gates. If I wanted to get the latest scam I’d ask Gwyneth Paltrow, If I wanted to have advise on boxing, I’d ask Floyd. None of them should be promoting Bitcoin. Then only reason they do is MLM Direct Sales Scams. Sorry to bring it to you but none of them have any interest in it than others throwing money at it so they can get out without severe losses. ---
**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 20, 2022, 11:34pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/594 "2022-05-20T23:34:05Z")
> [@Aedaxus](#): > > None of them should be promoting Bitcoin. Then only reason they do is MLM Direct Sales Scams. Sorry to bring it to you but none of them have any interest in it than others throwing money at it so they can get out without severe losses. Galaxy Digital is a financial solutions provider for digital assets who happen to sell BTC among other crypto currencies, The Celebrities are helping to market the services they provide which I still don’t see what this has to do with BTC. [https://www.galaxydigital.io/](https://www.galaxydigital.io/) Also BTC doesn’t have an interest system where interest is paid out just because you are in it. You simply buy BTC, if the value falls you lose money and if the value raises you can earn money. Or you can simply buy BTC only because the retailer you’re ordering something from demanded payment in that form. That’s really all BTC on it’s own can be used for I’m afraid, sorry It’s not the long winded scheme you thought it was. If you check it properly you will always find a company which has a dramafied leader who thinks they know it all. These leaders are/were somehow able to convince people their elaborate long winded schemes are less complicated than just buying BTC and waiting/monitoring when in fact it IS more complicated due to there being lots of components within the scheme. With regard to Luna, did no one stop and check that 20% interest on one’s investment is totally and utterly unrealistic and unsustainable? There was no cap on investments so anyone could put all their savings into it thinking they will get the unrealistic 20% forever. Also Do Kwon allowed people to withdraw straight away, no waiting period at all, if he had set this to 7 days or a month the collapse could have been managed better as this would have given them a chance to create and analyse virtual scenarios of what’s happening and react beforehand. Much of this world is based on manipulation unless you didn’t notice, Let’s take a couple being divorced for example. Lets say one of the couple has more money than the other and they are splitting up, The solicitor of the one that has less money will say “You can get more!!! Don’t settle!!” The case might go on for longer than it should and during this time solicitors charge thousands per month, Can you see who has been manipulated in this scenario.? The world is full chok a blok with forums with people happy to give you realistic no nonsense advice at no charge. It’s a shame these great resources are ignored and then people get conned and then develop silly opinions like “BTC is a scam” If I was Do Kwon I would have tested the algorithm to absolute destruction, I mean absolute and total destruction, I would have thrown everything I had at it and then 1000 x more and then 10,000 times more after that. If he had done this he would know his model would never have worked. ---
**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 21, 2022, 9:41am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/595 "2022-05-21T09:41:32Z")
> [@Aaron](#): > > With regard to Luna, did no one stop and check that 20% interest on one’s investment is totally and utterly unrealistic and unsustainable? Offcourse not, did you or Karak stop to think the rule-free economy would be popularized? There needs to be customer protection, and both in the US and Europe (not sure about the uK but I guess they will also go the same way) and more and more laws are votedin which explains more and more people bailing out (see chart below of the BTC still being below it’s last year value) of the “lawless fun money adventure” (okay, I didn’t call it a scam, I hope this is a better. BITCONNEEEEECT) > **[Crypto assets: new rules to stop illicit flows in the EU | News | European...](https://www.europarl.europa.eu/news/en/press-room/20220324IPR26164/crypto-assets-new-rules-to-stop-illicit-flows-in-the-eu)** > > Crypto-assets’ transfers would need to be traced and identified to prevent their use in money laundering, terrorist financing, and other crimes. Bitcoin went from 30k to 60k only because it could help against inflation and negative-yield bonds, Microstrategy, Tesla, and Galaxy Digital Holdings are the biggest users of it for that reason. That aside, Elon Musk is allowed to tweet about it without being in trouble. If he did that about TWTR, Twitter Inc, he would be under investigation. [https://www.sec.gov/news/press-release/2018-219](https://www.sec.gov/news/press-release/2018-219) In Q1 2022, MicroStrategy had $170.1 million in Bitcoin impairment losses and $901.3 million in 2021 impairment losses. Doesn’t sound like a good investment, unless they have other revenues and hope BTC will be their “continuous loss generator to combat taxation.” if they invested in a company that would have 3 years of losses, it would be suspect but with BTC one cannot possible make a valuation so no one can proove them it actually is. So like you guys said, let’s wait 2 more years to see what they will do then. ---
**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 21, 2022, 9:43am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/596 "2022-05-21T09:43:19Z")
> [@Aaron](#): > > If I was Do Kwon The difference is you are a good guy. You would work to make it sustainable. He just took the money and ran and with it dented the believe in the stable-coin for the average person. ---
**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 21, 2022, 9:44am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/597 "2022-05-21T09:44:05Z")
If we take a look at Nicehash for a sec, I like them because not so long ago all of their customers BTC was stolen and you know what they did, they paid back ALL their customers with their own money and then pursued the suspect legally I think they are close to retrieving their money. These are the type of people I respect, they make mistakes but choose to do full damage control, I am very happy to sell my processing power through them because they have an oldschool and realistic approach and always aim to do right by their customers. Do Kwon could learn a thing or two from Nicehash, he needs to share out that BTC and regain his communities trust and respect before trying any further scheme or project. ---
**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 21, 2022, 9:45am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/598 "2022-05-21T09:45:47Z")
These are the things which are good. They made a mistake but they owned up to it, made sure there were no victims while they sat on piles of money. ---
**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 21, 2022, 9:56am UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/599 "2022-05-21T09:56:18Z")
> [@Aedaxus](#): > > Offcourse not, did you or Karak stop to think the rule-free economy would be popularized? Not sure it matters what I think, afterall I’m not the one investing my life savings in Luna or any other stable coin. > [@Aedaxus](#): > > Bitcoin went from 30k to 60k only because it could help against inflation and negative-yield bonds, No, the value went higher because people chose to buy a lot of it quickly in a short space of time. This led the greedy to believe they could make a lot of money, when they realised they couldn’t they all started selling their BTC which drove the value down. I’m hoping the greedy investor has been scared away from BTC for good, and we only have the good investors and people who have a realistic use for BTC using it. I seriously couldn’t care less for the greedy investor who is just using BTC to make quick money, This is why I have no problem with the current BTC value if it represents a realistic community using it rather than a greedy community trying to take advantage and manipulate. ---
**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 21, 2022, 11:44pm UTC](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290/600 "2022-05-21T23:44:43Z")
> [@Aedaxus](#): > > None of them should be promoting Bitcoin. None of them are, at least I have seen none of them do so. I know some of those names are connected with shitcoins that have absolutely nothing to do with Bitcoin. > [@Aedaxus](#): > > Then only reason they do is MLM Direct Sales Scams. Sorry to bring it to you but none of them have any interest in it than others throwing money at it so they can get out without severe losses. Oh yes, they create their own coins and NFT ■■■■■■■■ and trick their fans into buying them. They should probably go to jail for fraud. You still can’t differentiate between Bitcoin and those scams right? > [@Aedaxus](#): > > Offcourse not, did you or Karak stop to think the rule-free economy would be popularized? Actually Bitcoin is literally money by rules. Those rules are the same for everyone and they can’t be changed anymore. Fiat money on the other hand is not money by rules. There is no law that says how much fiat will be created. There is no democratic process to govern the monetary policy. It’s literally money by rulers, just a few unelected people that decide over the very medium everyone is supposed to store their wealth in. People who constantly abuse this power to just create more money out of thin air and steal wealth from the people this way. The only reason fiat even exists is because they forced it’s use by abusing their monopoly on violence. It’s not even that old. All attempts to create private money where immediately shut down and people thrown into prison. Until Satoshi found a way to create money that works without a central authority that can be imprisoned or corrupted. > [@Aedaxus](#): > > Bitcoin went from 30k to 60k only because it could help against inflation and negative-yield bonds, It went from 10k to 60k and back to 30k because it is treated as speculative asset by a lot of people with a lot of money. Bitcoin is still in the process of getting capitalized. Few people still understand what it actually is, so they treat is as risk-on asset, which means it gets sold off in a risk-off environment like we have right now. > [@Aedaxus](#): > > In Q1 2022, MicroStrategy had $170.1 million in Bitcoin impairment losses and $901.3 million in 2021 impairment losses. Doesn’t sound like a good investment, You just have the wrong time horizon. They don’t invest into this to make a quick buck, they literally don’t care about the short term swings, they bet on it becoming the world reserve currency. May or may not happen. If it does, he will easily be the richest guy in the world. Let’s wait a couple years and you will cry about it crashing down to 100k [Previous page](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290.md?page=29) [Next page](https://forums.eveonline.com/t/the-rise-and-fall-in-bitcoin-value/346290.md?page=31)