Am I the Only One Laughing My Arse Off at the so Called Crypto-Meltdown \ stacker news ~bitcoin

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Am I the Only One Laughing My Arse Off at the so Called Crypto-Meltdown

411 sats \ 13 comments \ @spiderman 13 Oct bitcoin

Yeah, my LinkedIn and some feeds are full of eye-watering figures on shit-coins dropping my more than 90%, (some coin apparently went form $4 to $0.01 last Friday), traders getting liquidated left and right. And when anyone hears that I mine(d) Bitcoin or run node(s), they think I am one of those crypto guys too.

While I (still) do not understand why Bitcoin would drop in another tariff announcement (I mean, if anything, those announcements show the threats posed by political institution that control the money), I cannot complain about the discount.

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102 sats \ 4 replies \ @nolem 13 Oct

I was chatting to an investment banker a few days ago and I asked her to sum up why she didn't see the benefits of Bitcoin, she trotted out the usual not backed by anything, I didn't disagree with her, we just moved on to another subject. But I bet the next day she had a smile on her face when it dipped ☺️☺️

0 sats \ 3 replies \ @spiderman OP 13 Oct

If it is really a she, then you have to remember that the Bitcoin community is massively male dominated as women find it even more difficult to get it.

And then, as an investment banker, her entire life is built around a business model and narrative to which bitcoin is the kryptonite. Even if she buys it privately, she may even get in trouble with her employer just for talking about it. HSBC, a global banking giant, for example, is extremely strict about it, which is why defence mechanism to protect the narrative (and business model).

Nobody is indoctrinated more than the inner circle of the indoctrinator himself and an investment banker is part of the figurative inner circle.

0 sats \ 1 reply \ @krispy_donkey 13 Oct

HSBC, a global banking giant, for example, is extremely strict about it

Are you able to expand at all? How do you know this?

0 sats \ 0 replies \ @spiderman OP 13 Oct

Part of it, from people who work(ed) in HSBC.

Talked to people who had their payments declined or even account suspended, and it is not difficult to see why given HSBC's public stand on this.

So yeah, they are trying everything they can to put their head in the sand, pretending not to see anything and desperately hoping the status quo continues.

0 sats \ 0 replies \ @nolem 13 Oct

No lies detected

110 sats \ 0 replies \ @DEADBEEF 13 Oct

I hadn’t even noticed the meltdown. I rarely look at the price of Bitcoin or any of the other cryptocurrencies for that matter.

100 sats \ 0 replies \ @035736735e 13 Oct

Correlations appear out of thin air when traders look for quick narratives. The long term thesis for Bitcoin has never been about next Friday’s charts but about a monetary system outside politically managed levers..

1 sat \ 0 replies \ @TNStacker 13 Oct

All the TradFi's act like TradFi's even though this is not that

0 sats \ 0 replies \ @justin_shocknet 13 Oct

do not understand why Bitcoin would drop in another tariff announcement

When liquidity gets pulled from the market for any reason, be that uncertainty, momentum, or completely unrelated things selling off for their own reasons, de-leveraging occurs systemically.

A shitcoin tanking 90% can draw down Bitcoin as the shitcoin holders liquidate anything else they might own to save a margin call... or the margin call itself liquidates their other positions. ETF's extend that now into the stock and bond markets.

Like everything else, this is good for Bitcoin, as it is a gravity-well of liquidity it draws down less and less compared to other things over time which begets even more liquidity. It's often compared to real estate, which if you try to liquidate a large property it can take months or years... Bitcoin offers instant liquidity.

Most of the blood Friday was in perps since Binance was exploited via a stablecoin market, perps are all leverage which cascades as liquidity is removed.

0 sats \ 0 replies \ @carter 13 Oct

This was all a big misunderstanding https://www.tiktok.com/t/ZP8AuymGR/

0 sats \ 0 replies \ @Solomonsatoshi 13 Oct

'While I (still) do not understand why Bitcoin would drop in another tariff announcement'

Because the tariff announcement was in response to Chinas renewal of restrictions on rare earth exports to the west and this spells potential disaster for the west which has already lost the trade war and cannot manufacture most of its high tech and military products without China supplying rare earths.

https://www.telegraph.co.uk/business/2025/10/12/why-western-executives-visit-china-coming-back-terrified/