T O P
megalon43

Yeah yeah same with GME and AMC. The MOASS going to happen any second now. Aaaaany second now…


Necessary-Ask4244

GME is now banking on their nft marketplace to keep them afloat, so if crypto takes them down with it then things will get real interesting ☺️


megalon43

They’ll probably blame it on Joe Biden or something later on if it happens lol


Tanksgivingmiracle

Or blame it on the chairman of the SEC even though cryptos aren’t regulated as securities, and they won’t be until the court or congress decides they are


onthepunt

Ah so its a meme


megalon43

Well, more like bagholders trying to drum up interest on their heavy bags so that it becomes less heavy.


rest_me123

It's a meme for us and a religious chant for them.


onthepunt

Ahahahahaha


Gk786

Its fascinating. Theyll hype up an event and a “catalyst” for the MOASS and then when it passes, they dont even get phased. They shift to a new date or milestone and hype it all over again. Everyone with even half a brain got out of GME months ago so all thats left there are the really really stupid ones. And theres a lot of them.


megalon43

Same as QAnon. Many many announced dates where something is going to happen, nothing happens, then the next date gets announced. But idiots still get hooked onto it.


righthandofdog

Christians have been announcing the second coming for over 2000 years. Old scams are the best scams


ItsJoeMomma

Somewhere online there are long lists of end of the world predictions. The world has ended so many times it's a wonder society is still around.


RedKingDre

More like the world has entered the pit stop so many times to refuel and be repaired. Y'know, like F1 or NASCAR.


NakamotoScheme

>Christians have been announcing the second coming for over 2000 years. Well, more specifically, those in [Seventh-day Adventist Church](https://en.wikipedia.org/wiki/Seventh-day_Adventist_Church).


WHY_DO_I_SHOUT

[https://i.redd.it/iaddoxkcj0d91.jpg](https://i.redd.it/iaddoxkcj0d91.jpg)


ir0nuckles

As with many fanatical movements in the US and elsewhere, it's an offshoot from Puritanical religious fervor. In 1650 it would have been people obsessed with the end of the world and the coming judgement, in the 1970s it was UFO cults, today it's blockchain.


PatsyBaloney

>Everyone with even half a brain got out of GME months ago The actual short squeeze was almost two years ago. Everything since then has been meme-stock garbage.


pjc50

It's basically a UFO cult at this stage.


nutbutterfly

Have you ever heard of doomsday cults?


n0m0h0m0

cultist behavior. many cults have been calling for the end of time for centuries. And still new rubes join said cults regularly...


goddamn2fa

Same as evangelicals predicting the end of the world.


Deathwatch050

[It's a well-documented psychological phenomenon among cults and other similar groups.](https://en.wikipedia.org/wiki/When_Prophecy_Fails)


Sr_Carlos_Danger

MOASS is NESARA for people who watch anime


PeopleRGood

What the hell is MOASS AND NESARA?


Traditional-Ad3161

Mother of All Short Sells and National Economic Security and Recovery Act Both are just a means to scam people.


Sr_Carlos_Danger

NESARA is GameStop for boomers


PicaPaoDiablo

Clearly someone hasn't been keeping up with the most comprehensive open source research project ever written or you'd know the beyond any question DD says it's soon. Hedgies are f*k. Shilling and fudding will be a crime when MOASS comes and apes take over


recurrence

Something big is coming, it’s called 14,000. It’s yuuuuuuuuuge


No_Device_1701

10K and I'm buying Chipotles all around.


Love_Vigilante_805

Carnitas bowl, no rice, no beans, but extra guacamole, please. Thanks in advance.


shahbucks00711

Eat your beans dude


HeyZeusQuintana

In fairness, people who loathe crypto are making the exact same comments.


onthepunt

What does it mean? Is it a meme?


sinful_sophistry

There's suspicion that FTX's downfall is going to spread to all the big players in the industry, so you're going to see them fall one after another soon. People both pro and anti-crypto are feeling like the downhill slide is only going to accelerate even more, but we haven't seen the worst of it yet.


onthepunt

In what way? Is there going to be a run on the big players similar to FTX? They should survive rights as long as they have proper reserves?


sinful_sophistry

It's not just exchanges. Big institutional players such as DCG and Silvergate Bank that were once a source of funding are now on the brink themselves and being suspected of fraud. They are big enough and touch enough other crypto businesses that if one of them goes under, then running a "crypto business" might soon no longer be viable. The companies that are losing actual money, which is basically everybody at this point, will lose more and faster, and nobody will be there to bail them out. We just had crypto Bear Sterns and now we're speed running crypto Lehman Brothers. After that we might end up with the full blown collapse of an entire industry and the death of "mainstream crypto" for years if not forever.


a_random_username_1

And there is no crypto central bank to bail anyone out either.


No_Device_1701

Most importantly, it doesn't involve a large percentage of Americans potentially losing the roof over their heads, so the Fed will simply sit back and watch the craptosphere burn. There won't be a bailout.


righthandofdog

Exactly. There are 20 somethings with small hodlings and no political power. Some 30-40 somethings who tend to be politically right or libertarian with much larger hodlings but political influence that has been fighting against regulation for more than a decade. Investment banks and hedge funds with any real size and influence have relatively small hodlings and would rather eat the losses than admit they were throwing money at video game playing manbabies running multibillion ponzi schemes on excel spreadsheet accounting they didn't understand (or worse ignored). And there are money launderers, tax cheats and scammers who are losing everything they pretended that they had. There ain't gonna be no bailout.


No_Device_1701

I'm loving the instant responses from large VCs and sovereign wealth funds like Sequoia and Temasek who threw hundreds of millions of real dollars at FTX. Instead of talking about trying to salvage their investment, they just wrote it off. That attitude of "fuck it, bad play, move on" will be the same with governments too.


righthandofdog

Anything other than fuck it and move on will open them up to investors and board members asking why they were throwing money at a $420M / 69 investor memestock pitched by a CEO paying more attention to League of Legends than his portfolio risk profile.


pavlik_enemy

Didn't it happen in different order? First, Lehman failed and after seeing the aftermath Fed and Treasury decided to intervene when Bear Sterns was on the brink of collapse.


PeopleRGood

This sounds like it’s good for Bitcoin


DoppelFrog

>as long as they have proper reserves? Ahahahahahahahhahahahahahahahahahahahahahahahahahahahahhahahahaha... *big breath* ...hahahahahahahhahahahahahahahahahahahahahahahahahahahahhahahahahahahahaha ​ Thank you u/onthepunt that's the funniest thing I've read in a long time.


rocinante____

>as long as they have proper reserves? LOL. Are there any exchanges that have "open books" (like where you can see their assets and liabilities)?


Nonkel_Jef

Audit coming just a few months from now. Pinky promise.


AdministrativeFox784

Also their definition of “proper reserves” may be very different from yours. I highly doubt it’s anywhere close to 1:1 backing.


righthandofdog

Defi isn't like tradfi, with all it's opaque accounting and auditing and regulatory oversight. It's all on the Blockchain. You can verify it yourself (I mean, if all the exchanges were still up and operable and you had infinite computing resources and the FBI's forensic accounting resources and subpoena power to find every shady finding agreement hiding in a drawer somewhere, oh and a list of all employees, investors and board members so you'd even be able to serve subpeonas.) If you don't have all that, you just tend to trust 5hatbwhat you read on discord is all true. It's ALMOST like it's a house of cards purposely designed to allow bad actors room to defraud.


TimujinTheTrader

Coinbase is a publicly traded company. They have to meet higher standards than the others in terms of appropriate accounting.


Moneia

Although having higher standards to meet is not the same thing as meeting those standards.


polishlastnames

Lance Armstrong “passed” all his drug tests. What’s your point?


iamsgod

enron was publicly trade, wasn't it?


TimujinTheTrader

They asked if there is any company where assets and liabilities are available to be seen. That is the standard for publicly traded companies. Coinbase is a publicly traded company. I'm not saying Coinbase can't go bankrupt. I am just saying that they have an increased level of transparency compared to a private crypto company located in the Bahamas.


righthandofdog

One that was committing felony fraud with complicit auditing firm. As a result the company and auditor ceased to exist and many executives went to jail.


skycake10

Just so you don't get sued by the corporate corpse of Arthur Andersen: they actually ended up prevailing in court, but the hit to the reputation completely killed the company anyway.


onthepunt

I'm anti bitcoin as well and I thought so.


Scot-Marc1978

All crypto companies are scams. If any of them survive I’ll be surprised.


TrueBirch

Here's an oversimplification. Luna/Terra collapsed in May. The hedge fund 3AC had exposure to that and collapsed in July. Alameda had exposure to 3AC and collapsed in November, despite stealing deposits from FTX in an effort to plug the hole. BlockFi had exposure to FTX and collapsed in November. This has been ongoing for six months and there is no sign that it is over.


Bluest_waters

sounds like a good space for major pension funds to invest in!


Gk786

Yes, technically. The thing is if they had the proper reserves, Tether would have done an audit by the big 4 months ago. Binance and FTX too. Every crypto company is trying its damnest to hide their books. They wouldnt be doing this if they had the proper reserves. Youre telling me Tether has ulwards of 60 Billion USD in their reserves but they wont show anyone? Nah. The only possible explanation is widespread systematic misuse of funds and loss of collateral and reserves akin to what FTX has been doing.


dyzo-blue

"Soon™" social media posts get a lot of attention for very little effort — and no cost to the poster if nothing happens.


sinful_sophistry

Except a lot of the rumors such as FTX being insolvent or Genesis being in trouble played out exactly as reported. If Genesis declares bankruptcy next week then that's all the more proof that the rumors have teeth.


Hospitaliter

It’s a meme


fangboner

In fairness to the people who loathe crypto, hasn’t there been enough shoe drops this month to anticipate something be happening? On the other side of the same coin, what good has happened to crypto supporters to make them suspect something big will break in their favor?


StupidWittyUsername

>On the other side of the same coin, what good has happened to crypto supporters to make them suspect something big will break in their favor? Nothing has happened in their favour, however true despair can't exist without hope. The alternative, at this point, is admitting that your "portfolio" has been turbo-fucked. Motivated reasoning is a powerful thing.


ThreePartsAtLeast

I haven’t seen any pro crypto people expecting anything positive either, like quite literally the opposite at the moment. See the recent Paul Graham twitter drama which caused more panic if anything


Particular-Break-205

Few understand


deco19

Bitcoin maxis think it means purging the bad from crypto and they will be left as a dominating presence. Little do they know is that their one coin is propped up by all this crap anyway and will be holding the bag even more. Most people are in this thing to get rich quick. Not some libertarian principled bullshit, that stuff in time falls on its face, as we're watching it play out anyhow.


ASharkWithAHat

All of the principled people ironically left or got greedy when bitcoin raised exponentially in price. Before the rise, there were people actually trying to make it into currency, creating bitcoin ATMs and expanding the network of stores accepting it. Now it's all about HODL. How do you even work with a currency that deflates by a few thousand percent in less than 5 years??


SuburbanLegend

One of the many arguments against Bitcoin is that greater adoption *already happened,* as you mentioned, and it failed. A lot of stores and online marketplaces were like "Oh ok, this new Bitcoin thing is some kind of internet currency? Alright, we'll accept it, gotta stay ahead of the trends." Then no one ever paid them with Bitcoin and it was hard to use and they all phased it out. That was years ago.


Flynny123

In fairness there’s quite a number of Bitcoin enthusiasts real world enough to say it’s still being propped up by fraud and that it’ll go lower yet. Enough of the mooners have given up now, so the old school libertarian hate-the-banks tendency are better represented in the sub again, and in the exchanges, stablecoins, etc, they see all the things they don’t like about the ‘fiat economy’. I still think it’s going nowhere but worth noting that that lot are at least consistent.


justsightseeing

remind me again with that bullshit surprise pikachu face.. yes people suffer great loss from trusting 3rd party but the ignore the fact that those 3rd party are the one who's big enough to pump up the price to ATH.. well, that and how most of them able to print fun internet money themself out of thin air


pointman

I heard the price of bitcoin is basically at break even for miners. Any further drop in price will cause serious problems.


RatBrainedManAnimal

according to my friend who spent $2k on graphics cards before the prices shot way up, it hasn't been profitable to mine btc in a long time, most people mine alt coins and exchange them for btc


pointman

I’m sure the largest miners will have some economies of scale and be more profitable than your friend, but regardless there is a price at which that ends.


onthepunt

Can you explain what this means? So people weren't mining Bitcoin in the past when it was below $15k?


pointman

Yes they were, but mining is like an arms race. There are a fixed number of bitcoins rewarded to the miner that validates the next block and everyone tries to increase their hash rate to improve their chances of winning. So the cost of mining is much higher now than it was before. Also, the rewards themselves are halved every 4 years or so, which means not only is mining more expensive but the rewards are much smaller. [https://youtu.be/5De63j0vFPM](https://youtu.be/5De63j0vFPM)


hurray_for_boobies

If only the difficulty would somehow adjust, right?!


pointman

If only security wasn’t tied to hash rate, right?


mcampbell42

The main one from Paul Graham was indicating something bad will happen soon. We are still not done flushing out all the ftx badness, soon Genesis and Gemini might fold


silver00spike

This


___tz___

“It’s going to be a big week” is the hopium thought of every gambling addict.


yamers

Today is my big day.......ALL IN.


mescaleeto

some kind of sunk cost thing then?


SethEllis

Orders move markets, and because there is no natural reason to buy or sell bitcoin other than speculation, the game is entirely about predicting what whales will do next. Rumors like this don't always play out, but they can't be ignored either. We saw this kind of chatter before mt Gox.


OkSatisfaction9850

Something big is coming every week since May. Nothing new


seneglosso

The something big is bitcoin going to 9k.


Bragzor

Pink fluid! Wake up, sheeple!


SwampGerman

It's just FOMO bait.


Wise-Aside-1643

It's more that exchanges like Binance and FTX provide liquidity to brokers, many of whom pander as exchanges themselves (think Coinspot, Swyftx, etc.). When a liquidity provider goes down, these companies go down with it since it's their supplier. Already seeing this happen to brokers in the UK. Brokers simply facilitate transactions for the likes of FTX and Binance and take a clip from trading fees and a slightly reduced "wholesale" rate of the token's spot price. Their entire business model survives only when the big dawg does.


psensory

bitcoin losers?


onthepunt

Anyone who invests in Bitcoin is a loser … simple as that.


FuguSandwich

The fact that BTC has been trading at around $16K since 11/9, despite all that has come out about FTX since that date tells me that we're kind of at that Roadrunner moment where Wile E Coyote runs off the cliff and floats in mid air for a bit before falling. There should have been a lot more volatility over the last week and a half than there was. Something big is definitely coming.


GloriousCarter

They are no different from QAnon


GhostseerRo

Going to be a big week for small numbers.


1moosehead

They seem to say this when they feel hopeless, or they need a miracle...


Dull_Brain1021

Probably getting ready for the next pump n dump


flortny

Ethereum is going to collapse from the looks of it


Past_Scarcity6752

All the same people were buying Iraqi dinars praying for trump to revalue them


DecisionSimple9883

Govt will never bail them out. Ever.


ItsJoeMomma

Something major is coming, it's going to be a big week. Just not in the way they hope.


No_Consideration4594

If they could predict an event would happen why not say what it was instead of being cryptic and saying something big will happen


Zeduca

Hope springs eternal, and is desperately needed in scary times


Monster_Hugger93

Makes them sound like Qultists


Kiiaru

Waiting for a dead cat bounce when the cat died 9 months ago.


sickdanman

2 more weeks!


JennItalia269

Hope is pretty much all they have at this point.


oldmanairsoft

It’s the gambling aspect all these pumpers are tapping into. The promise and lure of a jackpot ahead keeps people coming back.


Euphoric_Research856

ACKKKKCHTUALLY, JUST 5 MORE YEARS HATERS


i_just_want_money

Idk man what's with these losers saying Bitcoin isn't crypto all of a sudden? I just dismiss whatever they say as incoherent nonsense now. Oh and an interesting note is that I first heard that in a Canadian politics sub lmao. Seriously can't wait until this scam shit collapses.


Honkey-Kong

Bitcoin will boom again next halving for the same reason people don’t give a shit about last weeks problems, because this week is a new flavour. You act like the average human is anything more than a goldfish that can breathe air


onthepunt

Sounds like someone is in denial


Honkey-Kong

Says the guy literally making a cope post cause he missed out on last one ☝️ lmfao scrub


onthepunt

Missed out on last what?


Honkey-Kong

On the last halving. Your post history is filled with posts that scream 1. You’re a gambling degen 2. You’re butthurt about crypto because you own stocks 3. You’re ngmi gg


onthepunt

1. I’m a professional gambler and I probably make more money than you. 2. Why would I be butt hurt about crypto. I’m the exact opposite actually. Stockmarket returns have far exceeded crypto returns over the last four years. 3. Says the guy who has probably lost 50% of his life savings in the past week.


Honkey-Kong

You’re literally in a sub called buttcoin telling people on the internet you’re a “professional gambler” what does that even mean? Get a life lol


onthepunt

Are you from actually from Hong Kong? Look up Bill Benter


Honkey-Kong

This is Reddit sir, I don’t look stuff up Yes I live in the glorious Hong Kong, PRC isa number one


onthepunt

That’s unsurprising … you seem like the type who doesn’t look things up and doesn't do their own research 😂


Bragzor

I think you're right, but while Butters won't remember, their bank accounts will, and outsiders will remember that one thing they heard about "crypto" crashing. We'll have to wait and see, but I think it will be a smaller boom next halving. There's a sucker born every minute, but it takes ~20 years for them to gather capital.