This story about crypto started about 2 years ago.
It starts with an idea about why Blackouts in Xinjiang were linked to crypto problems in China.
The idea was that bitcoin was going to solve inequality and be free from government manipulation.
What could be more opposite to what China wants.
The cost? A surge in energy and semiconductor demand unlike anything thought possible at the time.
China gave us the first indication the cost was to much to sustain and exited the ring for who would control bitcoin.
The next to leave the ring were popular dollar pegs.
It wasn't long before wall street got involved in the fight by taking Coinbase public along with ETFs and enough dumb money to bankrupt a country.
I stood up on my soapbox (Trading View ❤️) and shouted what I knew to be inevitable.
But at the time, nobody was listening. The stock market and crypto went into a spiral downward in harmonic correlation.
Finally after 2 years and several criminal masterminds identified by MSM. translation = SBF is about as solely responsible for crypto collapse as Madoff was or Kareem Serageldin.
I thought this story would end with Bitcoin dying completely.
But then I noticed players like TastyTrades stepping into crypto ring and thought to myself maybe there is a chapter 2 to this story.
I think there is a lot more legitimacy to digital currency now that players like TastyTrades are entering at this particular time.
I could be wrong on this one, but I'm leaning risk on by buying Coinbase here.
Feel free to leave hate mail below in the comments 👇👇
Very difficult to pin an intrinsic value on COIN amidst all of the current chaos, but one may fair better owning shares in those who sell shovels, rather than prospecting gold themself.
SPYvsGME
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@JRSone, I see your point. I bought COIN on open and sold minutes later and never looked back until now. I watched an interview on youtube about the new CBDC and realized I had not done any research on it yet. The USD can not forfeit the battle on digital currencies and I get the sense that COIN is the best positioned to benefit from a digital currency world we all know is at our doorstep.
Cryptouprise
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@SPYvsGME, I couldn't agree more. Coin at all time lows. Def a good time to start dca ing in it think. usdc will rule them all if gov has anything to do with it.
Kmahj517
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Coinbase is still a centralized exchange. The idea with crypto is to get away from the central points of failure. DeFi is where to look IMO.
zAngus
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@Kmahj517, any exchange in particular you would recommend?
You thought Bitcoin was going to legitimately die? That is the stupidest thing I've ever seen on a TV analysis. Even more stupid than that is changing your mind after some no-name scrub trader called TastyTrades 'got back into the ring'.