Pete

@LarkDavis The risk is in the fact that the underlying asset isn't worth anything.

Saying crypto is 'risky' is the laziest take in finance. The S&P 500 lost 50% twice in a decade. Your savings account is losing to inflation right now. Everything is risky.

@Rajatsoni you come across as the typical salty coiner.

Why did gold fall 27% in less than 2 months? I thought a store of value is supposed to have a stable price Does this mean gold is no longer a store of value?

@dailydirtnap Modern Luddite.

I'll be glad when he's gone, but there will just be hundreds more to take his place.

@LarkDavis Why would it be the same? Recency bias?

"This is it. Crypto's done. Peter Schiff was right." Fair take. Most crypto? Yeah, probably cooked. But Bitcoin isn't your run-of-the-mill crypto. No CEO. No VCs. No one to rug you. True scarcity. True decentralization. Quantum threat? Everything digital faces it. Bitcoin can upgrade. Been declared dead 473 times. Still here. Why would this cycle be different?

@Rajatsoni I'm beginning to think this is satire now?

This is insane $MSTR can't sell enough $STRC to get it back down to $100 This is the most highly sought-after product in the world And MSTR is the only company that makes it There should be entire college courses teaching about MSTR's flywheel effect

@Rajatsoni Selling time for money to buy bitcoin; literally deleting your life one coaching call at a time 😂

$MSTR will use $STRC to buy trillions of dollars of $BTC over the next decade STRC is a sleeping giant Dividend ETFs like $SCHD, rental properties, and money market mutual funds have some serious competition coming their way in the next decade

@CryptoMikli I've been able to sell at spot in bull or bear phases with bullion vault.

Grant Cardone reveals NOBODY would buy $10,000,000 worth of Gold at market price “I know a guy who is trying to sell 10,000 pieces of silver and he can’t get a real offer. He’s getting a 30% discount below the market. People see it spiking like this and they’re like, ‘OMG.’ But go try to sell $10M worth of gold and see what happens. You’ll only get offers 20-30% below the market, and you won’t get the money tomorrow or in five minutes. It needs to get authenticated, checked, and validated” “Bitcoin is a real thing. You can trade it in five minutes, and that’s real. Bitcoin, to me, is not only money, it’s also technology, unlike gold or silver”

@shahh You’re assuming they can refinance maturities on same terms forever. If terms worsen, they’re left with dilution or asset sales. Dilution only “works” while the stock trades at a premium to BTC NAV. If that premium collapses, issuing shares becomes destructive.

Saylor does not have a liquidation price He borrowed $10b at .28% and bought spot His Bitcoin holdings are worth $60b So he has made $50b profit on his investment If Bitcoin falls below his average cost ($76k), then MicroStrategy can use their $50m annual profit to service debt on the loan. Basically, he's going to be buying until the end of time.

@PeterSchiff @APompliano What did he order @PeterSchiff ? Humble pie?

I let @APompliano read the post before I posted it and he changed "Bitcoin" to "gold." So I changed it back.

Look who I ran into in El Salvador. We grabbed dinner at a local restaurant. I asked the waitress if we could pay in Bitcoin and she said no.

@LawrenceLepard @TheBTCTherapist Oh come on Lawrence, are you f***ing mad? Saylor is a complete shill, the fact you even engage in the comparison is testament to how blinkered you've become in your 'wise' old age.

@TheBTCTherapist who is richer and has a better track record? there is your answer

Who’s the better investor? Michael Saylor or Peter Schiff 🤔

@PeterSchiff YOU BECOMING PRESIDENT WOULD BE A DREAM finally a politician who will tell the fucking truth!

It’s possible that if gold and silver keep rising like this, and if the U.S. economy is as big a disaster as I expect, I may have to self-fund my own campaign. I may be the only well-known defender of free-market capitalism who can run on that platform without being a hypocrite.

After we elect a Democratic Socialist president in a landslide in 2028, pundits will blame Trump for single-handedly destroying the Republican Party. But the real blame will fall on the ass-kissing Republicans in the Trump Administration, Congress, and the media who enabled him.

Bitcoin priced in Gold has been forming a very worrying head and shoulders pattern over the past three years. Anyone holding Bitcoin should take note. If this pattern follows through, Bitcoin will effectively go to 0 priced in Gold.

@RonSwanonson @Rajatsoni @PeterSchiff Yes, you aren't going to use the bitcoin for anything real; that is the very definition of faux.

@pteheard @Rajatsoni @PeterSchiff Am I faux demand?

Guess what we do when gold and silver prices go up? Mine more gold and silver Guess what we do when Bitcoin prices go up? Pay more for Bitcoin

@Rajatsoni @PeterSchiff @RonSwanonson Yes, because it's true supply and demand. Bitcoin is only supply and faux demand. That's why eventually it will go to 0.

@PeterSchiff @RonSwanonson So you're saying that after a few years the supply of gold will ramp up?

@1914ad @PeterSchiff Nope the last 3 years it is actually down in Gold terms. Get your facts straight by looking at the chart.

@PeterSchiff …and yet #Bitcoin has been devouring gold for 15 straight years!

Based on the trading patters and ETF inflows, it looks like the smart money is selling #Bitcoin in the spot market while the dumb money is buying it through ETFs. Congratulations to the Bitcoin whales for pulling this off. They set up #BitcoinETF investors to be the bag holders.

@vandell33 @JacobKinge Not really. Showing a worrying plunge right after a halving. Could well be over.

I’ve been sharing indicators & warning people for months that a massive correction is coming, before the bull run really kicks off. This happened in 2017 (40% - 42%) correction and in 2020 (40% - 42%) correction, both massive liquidation & dump right before we entered the official leg up, this is no different, we’re seeing the correction right before the bull run enters the mark up stage. Each of these stages coincides with the debt refinance cycle right before liquidity pumps back into the market, every 4 years. Like clockwork. Yes, we will go lower, bottom and then it’s up again. Additionally, we have not even begun the altcoin season bull run which should start in a couple of months. It’s all about liquidity and the market cycles.

Over $12 billion is expected to be dumped on the market at any moment. Over the last few weeks, I've been warning people to scale out of the crypto markets. An amount like this, from Germany and Mt. Gox repayments, could easily wipe out any existing buy walls, plunging #Bitcoin to new yearly lows. There's no doubt we're re-entering a bear market, and all the gains made in the last year or so will be reversed. Let's not forget that the entire rise was printed out of thin air and the subsequent FOMO. Not sustainable! What goes up must come down.

@garysavage1 I'm in. I traded in and out of the last cycle high on silver and doing well by going against the market, cheers.

A reminder that I will be closing the SMT to new enrollment after today. There's no question at this point that I was correct that metals are in the declining phase of an intermediate cycle and anyone who didn't/doesn't want to ride that down should have gotten onboard the SMT and focused on other sectors right now while we wait for the proper setup in metals. smartmoneytrackerpremium.com

@rajatsoni No this isn't how it works at all. Nobody cares how you get the gold. What people care about it what you can do with it! Apply this logic to bitcoin? NOTHING hahah

Gold worked for thousands of years because it's a proof-of-work system With proof of work, you get what you put in as evidence of effort A gold bar is evidence of mining The fiat currency system is proof of stake With proof of stake, you get rewarded for being rich This creates a gap in wealth between the rich and the poor As soon as the poor stop wanting to participate, proof of stake systems fall apart Bitcoin is a proof-of-work system like Gold Every Bitcoin that was ever created required a certain amount of work As the Bitcoin network gets older, it becomes harder to produce more Bitcoin Every ounce of gold is equivalent to every other ounce of gold Similarly, every bitcoin is equivalent to every other bitcoin Bitcoin is better than gold because there's a verifiable limited supply of bitcoin With gold, no such verified limit exists It seems like as long as miners are willing to look for gold, they will continue to find more, potentially forever The fiat currency financial system is going to fall apart, and savers will all move to Bitcoin with time

@rajatsoni @Harbinger_X14 bitcoin is fiat

@Harbinger_X14 Please enlighten me Will the US dollar be the only fiat currency in history that doesn't collapse?

The global stock market is worth $109 Trillion Global real estate? $370 Trillion Bonds? ~$400 Trillion All while Bitcoin is still only worth $1.4 Trillion All of these assets will need to be repriced in Bitcoin because Bitcoin will replace dollars But these assets won't be repriced fairly... For example, with stocks: Any companies that adopt Bitcoin late will lose A LOT of value or will go bankrupt because investors will pull out their money to buy something that performs well against Bitcoin Any company that adopts it early will gain tons of value because investors will double or triple their investments in those companies This scenario doesn't even consider everything else we use on a daily basis, eg. Food, cars, gas, gold, etc. Everything on earth will be repriced in terms of Bitcoin Stocks will lose 99.9% of their value Real estate will lose 99.9% of its value Bonds will likely collapse and won't exist on a Bitcoin standard Once you see where this is going, you can't unsee it

@rajatsoni nooo, 90% of bitcoin is wash trading. most people getting duped by pump and dump bots. not me though i sold up and out