Basically, its gonna suck.

Most people aren't aware of this, but what they did to "fix" the 2008 financial crisis, was an ongoing thing. Quantitative easing (the federal reserve buying bad debt to add to their balance sheet) never stopped after 2008. They tried to bring it back around 2018, but January 2019, the stock market saw that huge 30% crash so they had to bring the punch bowl back out.

That's why I knew this time would be worse. They didn't have "the thing that 'fixed' 2008" in their toolbox because it was actively in use the entire time. So every risk of a recession we see, the fed has to do double what they did before to "fix" it.

Where do we go from here? As Bitcoiners, in bear markets we build. Hopefully what we build is a lifeboat that stays afloat during the hardship.

I came of age during the 1970's and remember that as being a challenging time, but also one of great innovation. Many of the tools that are foundational to today's tech started to spread then (e.g. Unix, ethernet, etc.). My hope is that this economic downturn brings the same type of focus and innovation, and that most of that innovation happens in the Bitcoin space. Judging from the quality and passion of the folks I've encountered in this space thus far, I think the chances are pretty good.

If you've read any Dalio, you know we can only raise rates and curb spending so much before causing a depression, which means we'll have to keep printing money, which means inflation and all scarce assets will continue to appreciate in dollar denominated terms, which means we'll lose reserve currency status, which means we'll have a lot of internal and external conflict (war) as our influence weakens.

For people who can't afford scarce goods/assets, life is going to be hard. For everyone else, they'll likely be fine.

I don't see many options but to plunge into a recession, might not be for the US and some G7's who might just slide off the flat growth or marginal growth and avoid it but for the 150+ countries who aren't in that league well pretty much 100% recession confirmed, they will need to raise rate in their countries as the dollar crushes their fiat currencies (like my own South African rand) to slow inflation, capital leaving the country but this means massive slow down in economic growth and disposable income

This is bigger than bitcoin, stocks the US, this is GFC level shit

MOAR PAIN

Sitting here listening to all these clowns...I knew it was gonna dump this day....its going to this price...Bruh you buy bitcoin because of the price I stack sats we are not the same.

Tick, Tock, next block.

Bitcoin doesn't care. It will continue to work, block by block.

There's lightning developments on top of the chain, and there are a lot of projects on top of lightning. Bitcoin price is just the tip of the iceberg. Sats are the new internet money.

I'm pretty sure bitcoin can't go beneath it's previous cycle high of $20k, it never has before.

I'm also pretty sure the mainstream markets are going to keep plunging for a long time as inflation ramps up and the dollar loses its world reserve currency status.

That means soon, within $2,000 of here, Bitcoin's price will have to break away from legacy markets and start becoming the true store of value it was meant to be. Even if that sticks the price at $20,000 sideways for 2 years, that's a far better investment than any dollar-backed investments now.

Here's hoping we zoom up from $20k a lot faster than sideways for 2 years.

The fact that there are people who don't understand the value of bitcoin and are trading bitcoin, doesen't change the intent behind those who do and aren't selling their bitcoin. The percieved value of bitcoin by those who understand the reality of it, have a value in-mind and wouldn't consider selling until it reaches a 'future stable price'. At that point, you would only sell it for actual goods and property and the fiat debt notes will be irrelevant. This is the HODL-bank, and it continues to go up. A day's price may fluctuate wildly, but remember the relative volume is minuscule compared to that held by HODLers. The actual depth of the sell-side of the markets can't have enough quantity to matter in the long-view. We should celebrate dramatic dips in price, even "total collapses" and "record bare market indicators" for obvious reasons. Bitcoin has died many times. We know the future, we've been through this before, and what is happening today is exactly what we knew logically would eventually happen to the world fiat economy. This collapse is for what bitcoin was invented and why it was designed the way it is, to prevent another collapse from happening again, to prevent another runaway empire from dominating the world again, to prevent mass theft, rape, assault and murder by arrogant narcissistic puppets and their masters.

I'd recommend others to keep crypto as a small part of their portfolio, especially if you have dependents or near-term spending goals. But power to anyone with the balls to keep a lot of their net worth in btc and I hope you get rich with it.

Personally I've never seen btc or crypto as an investment instrument, and def not a store of value since its utility hasn't been broadly realized in the last 10 years. The 30d rolling average of estimated transaction value in usd; and unique addresses has not seen significant and steady growth imo -- it looks like most transactions are for speculation instead utility gained from the blockchain.

But overall I see it as a promising means of exchange and think that specifically the lightning network can change how people programmatically transfer currency especially for microtransactions and payments for *aaS. But my guess is that most of btcs value is from speculation -- everyday investors are buying it to get rich not for its utility. And these investors are driving the current price. It's hard to know if it's overvalued even at $22k, $10k, etc but either way its usd value won't change its promising technical utility.

Concerning Bitcoin, I hope that a strong inflation coming in developed country will decollerate him from Nasdaq, which is primordial questionning the FIAT price. What will be interesting would be a push under 20k, so the conviction of 2017 holders will be test hard. Let's see, keep building !

Well two days ago btc hashrate ath. Let them fud out the gamblers they can get in higher later.

I am very pessimistic at this point. Money printer won't work anymore, and balance sheet is well a complete mess. Every countries having cracks etc.

Right now only productive asset and commodity are truly valuable, countries even beginning to halt export to secure their local demand. In hindsight, this should have been even more obvious when masks export were banned back in early COVID.

Not sure how bitcoin is going to fare in a world like this, not sure how anything is going to get better at this point, except a long drawn out recession/depression even.

I think the west as a whole will continue its decline which will also have a negative impact on the world. It's possible they will release stimulus checks to keep order in the short term. All money I have including bitcoin I consider lost and I'm developing some basic skills like foraging and gardening just in case.

this is the beginning of a big transition and it is going to be rough...best to keep one foot in bitcoin and one foot in legacy until you end up balancing only in btc as legacy falls away.

do not go all in! stay balanced!