WTF just happened with crypto?!!?

in cryptocurrency •  2 months ago

Every time crypto dives like this, I wonder what the fuck just happened. I check the news and see nothing and wait for days checking occasionally for something to come out that makes sense. Often a ton of people have some lame ass excuses that make a bit of sense.

Some small ass exchange in Korea got hacked or some small ass decision in regulation just came out.

Did that move the market?

I seriously fucking doubt it.

Image by Sarah from Wallingford, USA, 26 March 2010 CC BY-SA 2.0 (source) via wikipedia

Watching the market and trying to trade right now though, I wonder what the fuck happened.

In a few weeks are we going to find out that Mt. Gox pulled another 200 million or some fuck all number of Bitcoin out of their ass and dumped it onto the market? Is some big ass hodler dumping his BTC from when it was way higher, now that it's gotten a bit of price back? Is someone that bought a huge chunk of BTC at its previous low dumping it all for a nice tidy profit? Is some huge hack's purse being dumped?

Fuck it if I know! But BTC just fucking tanked and now the other cryptos are following.

I'm not really worried, just a bit annoyed that it's going to be longer before Steem recovers some of its value. Feels like I've been waiting forever.

These things are good because they teach you to not panic. When I first started trading crypto rather than Forex, I was nervous as all hell. I panic sold a few times during trades. I still do occasionally, and end up losing money. But then I gain it right back in the next day or two. Occasionally I even manage to gain it back in a few hours.

The longer you're in crypto and the more times you live through the market shitting all over itself, the more capable you are of dealing with it. Rather than vomiting and running around like a chicken with it's head cut off, you just grab a roll of toilet paper or some wet wipes and you get a bucket.

Crypto can shit itself if it wants. I'm not a HODLER, but I do hold crypto. I believe in Steem. I trust in crypto. I know that all these dumbfucks panic selling are in fact dumb fucks because crypto is a limited commodity that has real use.

No, it's not fiat, so your stupid bullshit equations you ripped off some dumbfuck in the past can't tell you some made up value for what the money is worth supposedly when it's all just paper or even just numbers on a ledger, but it has real value.

You ever tried to send a few thousand dollars with Paypal? They take a huge fucking chunk, and it still takes fucking days for them to put it in your account.

By contrast, even when I sent BTC it was WAY fucking faster. I was annoyed it took like an hour or less. Maybe more. I usually use other cryptos, because it is faster.

Ever try to send a fucking wire transfer? FUCK OFF! They charge you like $50 to validate it, and then the dumb fucks are too fucking brain dead to even deal with a minor number error due to shit like cross-border differences in banks.

It's the 21st fucking century man! Sending money between banks should be instant and free.

You ever see in a movie how they send the money and it's fucking instant and the whole thing like is this big plot point? Never fucking happens! They might as well have a fucking 3 day weekend in Vegas waiting for their money to transfer. Those old snooty fucks at banks are slow as fuck.

So yeah, I ain't fucking concerned that these fucks are panic selling, because my crypto is worth a hell of a lot more than your toilet paper with dead presidents, or your fake numbers on a ledger that can't even be backed up if anyone ever decides to withdraw.

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Until Crypto attains mainstream acceptance, it is going to be extremely volatile.

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