This weekend there must be hundreds of millions of BTC owners who are in deep shock. I know one such an ex millionaire. Just last week, he was inviting me to get into BTC and invest in property. An experienced, online trader, he didn't see this coming. I hope his "sell-by" warning signal was in place.
Read a flash bulletin that Ethereum mining has been halted. I think this is the smoking gun. Considering market economics, and all things remaining equal, BTC should assume a more realistic "EPS" value. I have no idea what that really should be. We have no data in order to make reliable calculations. Some say BTC was overtraded and in need of a market adjustment. That makes no sense for a crypto, as its net value resides in its mining capacity (the way I understood it). Back to Ethereum. Market economics suggest the price should increase dramatically. However, I'm not convinced that market economics are at work here. There's no real, underwriting value to support the economics. Remembering another titbit I read a while ago, could be that BTC was purposely dropped in order to allow Ethereum to emerge as the stable coin. Might be that only a few cryptos would be allowed, as opposed to the EUs directive to move to fully-digital, national currencies via CBDCs. Again, might be that Ethereum would attract the next round of investment. Recently, BTC branched out into the real world when it was approved as currency for trading in real assets (albeit at BTC market rates). Not only BTC, but various other cryptos, some claiming to be underwritten by virtual gold, were given selective, green lights to flow through the banking system by Mastercard (in particular). Last thought, the biggest picture. The global, financial system is heading for a reset/reboot. It's going to be bootstrapped by a new domain, which its own market intelligence (AI) would have to discover all by itself and make sense of. In all probability, this bootstrapping is going to be affected by the World Bank (with support from all the strongest banks in the world). It'll mean the end of FIAT currencies (one informed source mentioned yesterday), killing of many, intangible cryptos that have been feeling lucky lately. There are going to be many, many tears. However, for those who stuck to market fundamentals, as Buffet has been warning everyone to do and even Bill Gates weighed in on last week, they would've invested wisely in tangibles and would be ready to take a ride on the rush to safety. Cash might not be king anymore, but tangibles have always been, and will always be. Are we going to see the mighty dollar following suit and a return to a pre-1971 monetary standard? I think the probability for this to happen is high. ________________________________ From: Basile Starynkevitch <bas...@starynkevitch.net> Sent: Sunday, 19 June 2022 10:30 To: stefan.reich.maker.of.eye via AGI <agi@agi.topicbox.com> Subject: Re: [agi] Current crypto crash I need some explanation (in more than a hundred words of English) between the relation to artificial general intelligence and crypto currencies. (e.g. Jacques Pitrat books are about artificial intelligence and never mentioned cryptocurrencies; and recent papers on https://arxiv.org/list/cs.AI/recent don't mention cryptocurrencies On 18/06/2022 23:13, stefan.reich.maker.of.eye via AGI wrote: ETH is below $900, BTC just fell below $18k. Who here is staking? I'm currently out of the game, sold my LUNA2 in time. For example Brett - how is your current Ethereum strategy? I always thought you're a guy to make wise decisions in that area. Did you foresee the crash at all? Are you still holding? Cheers -- Basile Starynkevitch <bas...@starynkevitch.net><mailto:bas...@starynkevitch.net> (only mine opinions / les opinions sont miennes uniquement) 92340 Bourg-la-Reine, France web page: starynkevitch.net/Basile/ Artificial General Intelligence List<https://agi.topicbox.com/latest> / AGI / see discussions<https://agi.topicbox.com/groups/agi> + participants<https://agi.topicbox.com/groups/agi/members> + delivery options<https://agi.topicbox.com/groups/agi/subscription> Permalink<https://agi.topicbox.com/groups/agi/T3cd6d2535f693617-M5f261157b42aea014ae3cc66> ------------------------------------------ Artificial General Intelligence List: AGI Permalink: https://agi.topicbox.com/groups/agi/T3cd6d2535f693617-Mfcbfbd16c0c809608dc649cd Delivery options: https://agi.topicbox.com/groups/agi/subscription
