Crypto Crashes (Again)

GBred
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Posts: 1,896

Crypto Crashes (Again) Nov 9, 2022 18:25:46 GMT via mobile

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Post by GBred on Nov 9, 2022 18:25:46 GMT

Crypto seems to be crashing very rapidly once again with what is considered the most “stable” and reliable cryptocurrency bitcoin rapidly tumbling below $17,000. I do hope this doesn’t have too dire consequences for Wagmi and it’s investors.

Last Edit: Nov 9, 2022 18:26:04 GMT by GBred

steve
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Crypto Crashes (Again) Nov 9, 2022 23:35:06 GMT via mobile bantam likes this

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Post by steve on Nov 9, 2022 23:35:06 GMT

I don’t believe it will make a huge difference. Reminder that they sold club football’s biggest ever NFT just a few months ago - £3.5m - right in the middle of this year’s crypto crash.

The latest fall this week was caused by another weak bit of the sector being exposed, the FTX trading exchange. This has happened fairly regularly over the past few years but the price dips in the past have always been recovered.

While there’s always a chance that for the first time this won’t happen, I keep an eye on the big investment banks and big Wall Street funds and this year they have been moving more into crypto rather than fleeing it. They could be wrong too of course but there’s no sign at the moment that the big money thinks that.

Last Edit: Nov 9, 2022 23:36:04 GMT by steve

steve
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Crypto Crashes (Again) Nov 11, 2022 20:40:59 GMT via mobile

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Post by steve on Nov 11, 2022 20:40:59 GMT

Perhaps a parallel might be what’s happening to Twitter. It very much appears as if Elon Musk is crashing that site but no one would say oh well that’s it for all social media now, let’s go back to just printing newspapers. Sam Bankman-Fried’s cavalier business ways have crashed FTX and that’s very sad for a lot of crypto investors who will lose money, but I don’t think that will mean people will say we are never doing digital currencies or other blockchain stuff like NFTs again.

I’m not regularly checking the Wagmi discord to see if they are among those FTX investors affected and even if they would admit it!

steve Ultimate Member Posts: 2,482	Crypto Crashes (Again) Nov 12, 2022 5:00:50 GMT via mobile George and GBred like this Quote Select Post Deselect Post Link to Post Member Give Gift Back to Top Post by steve on Nov 12, 2022 5:00:50 GMT Ok that’s good

aussiered Full Member Posts: 125	Crypto Crashes (Again) Nov 13, 2022 4:53:16 GMT via mobile Quote Select Post Deselect Post Link to Post Member Give Gift Back to Top Post by aussiered on Nov 13, 2022 4:53:16 GMT Will we follow the Perth Heat so the fans can pay the players and staff with their online currency. perthheat.com.au/news/perth-heat-to-operate-on-bitcoin-standard/

Alex BH Administrator Posts: 3,487	Crypto Crashes (Again) Nov 13, 2022 11:55:44 GMT via mobile Quote Select Post Deselect Post Link to Post Member Give Gift Back to Top Post by Alex BH on Nov 13, 2022 11:55:44 GMT Well not all of the ownership groups money can’t be tied up in crypto otherwise they wouldn’t have to able to buy the club and continue to fund it so they must have a lot of fiat currency as well.

Post by GBred on Nov 9, 2022 18:25:46 GMT

Post by steve on Nov 9, 2022 23:35:06 GMT

Post by steve on Nov 11, 2022 20:40:59 GMT

Post by steve on Nov 12, 2022 5:00:50 GMT

Post by aussiered on Nov 13, 2022 4:53:16 GMT

Post by Alex BH on Nov 13, 2022 11:55:44 GMT