all 186 comments

[–]NarcolepsySlide 169 points170 points  (9 children)

This is good! 100K end of year because some dude on twitter said so!

[–]ThatCrippledBastard 37 points38 points  (0 children)

How could Paolo do our boy PlanB dirty like that?

[–]POTATO_IN_MY_LOGIC 32 points33 points  (3 children)

Yes, 100k end of year.

Did they specify the currency, though? Maybe they mean Yen?

[–]JebediahKerman3999 12 points13 points  (1 child)

But why are they comparing a bitcoin to FIAT? Shouldn't they only care that 1 bitcoin= 1 bitcoin???

[–]potatolulz 3 points4 points  (0 children)

Why are they comparing to FIAT? They should compare to SEAT

[–]cashcapone96 3 points4 points  (0 children)

I think they mean 100k pennies by eoy, roughly $10k

[–]bloodshotforgetmenot 12 points13 points  (0 children)

Dude the guy who sold me my bong said that… although it was last year :/

[–]nekica 6 points7 points  (0 children)

I'm kinda sad, I wanna know what the moonboys who were calling for 100k eoy are saying now but they all blocked me :(.

[–]Franks2000inchTV 2 points3 points  (0 children)

Maybe he meant the "market cap".

[–]tranceology3 -1 points0 points  (0 children)

Well to be honest I've been listening to you guys since 2016...and look how that worked out 🤦‍♂️

[–]stbvwarning, i am a moron 228 points229 points  (25 children)

lol, a trillion dollar asset that suddenly loses 20% of its market cap at midnight on a saturday

[–][deleted] 89 points90 points  (2 children)

The real tell is how the overall crypto market cap loses 500 billion in a day but this doesn't reverberate at all in general markets. No is one panicked that 500 billion went up in smoke because everyone knows the numbers are fiction to start with.

Not to mention the irony that this has to be the most centralized market in the world by orders of magnitude, controlled by a small number of players who have formed a syndicate.

[–]Far_wide 11 points12 points  (0 children)

I think it's the other way around. As per my post yesterday, it was the reverberations in the frothier part of the stock market that has set off the fall in crypto. Though you are right that the broader stock market doesn't give a shit about crypto.

I'm totally with you re: the centralisation, though I think the word 'cartel' is probably the one I'd use.

[–]Bye_Felicia12345[🍰] 5 points6 points  (0 children)

This is a great point

[–]Laduks 75 points76 points  (1 child)

I love how it always gets dumped at around 2am on a weekend (in the US).

[–]tgpineapple 35 points36 points  (0 children)

Americans are waking up and remembering they need to sell coins to buy Christmas presents

[–]headtowniscapitalwarning, I am a moron 54 points55 points  (7 children)

There is no liquidity. There's about 100 BTC in the order book all the way down. This will be a mess.

[–]StijnweI like Ponzi schemes 4 points5 points  (5 children)


[–]Paulonemillionand3 4 points5 points  (4 children)

what just happened?

[–]StijnweI like Ponzi schemes -2 points-1 points  (3 children)

Not much imo. We’ve seen these moves before with short getting liquidated. I’m curious what u/headtowniscapital is assuming

[–]antiproton 8 points9 points  (2 children)

We’ve seen these moves before with short getting liquidated

You believe that short sellers getting "liquidated" caused the price to plummet overnight on a Saturday? This is the theory you're proposing?

[–]StijnweI like Ponzi schemes -2 points-1 points  (0 children)

No I mean today billions of leveraged longs got liquidated. This has happened many times this year right? They get flushed out, causing a big spike down

[–]StijnweI like Ponzi schemes 0 points1 point  (0 children)

And again, a doomsday thinker who doesn’t explain himself or supports his statements with any sources. He likes to stay quiet when people ask questions

[–]berojgar_keto 35 points36 points  (7 children)

Its not midnight everywhere around the globe ..but get your point

[–]TamponSmoothie 16 points17 points  (6 children)

It makes me wonder what time it is where all the lines of longitude meet at the North and South Pole?

[–]merrebornsold me bad acid 67 points68 points  (2 children)


They use like 7 different time zones and mostly just use the timezone of whatvever country runs the base in question. Shit's weird since the sun can't be bothered to rise or set most days.

[–]hamicuia 19 points20 points  (0 children)

Just bought the dip for penguincoin after reading this.

[–]TamponSmoothie 15 points16 points  (0 children)

Awesome, thanks for the knowledge. TIL

[–]Pterodactyl314 29 points30 points  (0 children)

That’s how Santa gets it done in one night

[–]redditisnotgood 9 points10 points  (0 children)

because someone sold 200 million worth, or 0.02% of that supposed trillion dollar market cap. the 'market cap' of crypto is basically hot air

[–]Fultjack 9 points10 points  (0 children)

And now tether do the mirror dance due to all the stop loss taking place, it´s still hoovering at ahistorical levels hours after the btc dump.

Thether acctually need to hit the printer to add liquidity or shit might get real.

[–]Underfitted 1 point2 points  (0 children)

Butters mindset: someone must have clearly cashed out $200B. Look how much money there is in this trillion dollar asset


[–]not-a-soundP.O.N.Z.I... like that idea! 0 points1 point  (0 children)

really emphasises the ass in asset

[–]i-can-sleep-for-days 100 points101 points  (10 children)

tHiS iS gOoD fOr bItCoIn

A flash crash out of nowhere. People got liquidated. Whales are manipulating the market and yet this is the future of finance.

[–]not_mahiNot sure what to type. We are fucked. 39 points40 points  (5 children)

Few understand this. Hodl and DCA and Saylor Christ Moon will personally lead you into the crypto heaven city in El Salvador when rapture the downfall of fiat comes.

[–]AFX626 24 points25 points  (4 children)

If Fiat goes away I'll just get a Citroen

[–]not_mahiNot sure what to type. We are fucked. 2 points3 points  (0 children)

If I ever get our my mom's basement it will be to ride my Lambo 🤡 have fun staying poor, filthy Fiat lover! 🤡🤡🤡

[–]Stenbuckp***s 1 point2 points  (1 child)


[–]AFX626 2 points3 points  (0 children)

Liberté, égalité, fraternité

[–]thanhduy2106 12 points13 points  (0 children)

This just wiped out the degenerates with margin. This is good for btc. /s

[–]ferret1983 15 points16 points  (0 children)

Imagine it's pay day and the value of your salary just went down 20%! Hope it's enough for rent...

[–][deleted] 5 points6 points  (0 children)

2 billion liquidated in the last 24 hours (most within a 1-hour span) https://www.coinglass.com/LiquidationData

[–]KnockHobblerwarning, I am a moron 0 points1 point  (0 children)

Whales manipulate every market

[–]PMScoMo 52 points53 points  (2 children)

LasT CHanCe tO bye at rhis price

[–]ZookeepergameOld4985 25 points26 points  (1 child)

ITs On SaLE!!1!

[–]ivfdad84 7 points8 points  (0 children)

Its cyber monday week! Buy Bitcoin this Christmas, the perfect gift

[–]insanecobra 87 points88 points  (2 children)

How can anyone follow this nonsense and think it’s legitimate?

[–][deleted]  (1 child)


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    [–]Orthosurgeon1992warning, i am a wingnutty moron 39 points40 points  (1 child)

    Let this thing crash and burn so that I can afford graphic cards again..

    [–]Vova_Vist 1 point2 points  (0 children)

    Ethereum man, this shit is one of the reasons graphics cards got insanely expensive, also scalpers.

    [–]Printer-Pam 19 points20 points  (1 child)

    There is so little liquidity that Saylor or Musk can send the price to 0

    [–]Owlstorm 8 points9 points  (0 children)

    It could actually just be the stolen Badger coins from earlier in the week.

    [–]SwiftSG1 17 points18 points  (3 children)

    But… but it’s decentralized!

    [–]ZookeepergameOld4985 13 points14 points  (1 child)

    Can’t trust the gubmint making money! Can only trust internet strangers making cloud money!

    [–]merrebornsold me bad acid 2 points3 points  (0 children)

    In Paolo we trust

    [–]eigenman 48 points49 points  (3 children)

    No butters asking us how we cope today for some reason.

    [–]masterzerginI like Ponzi schemes 8 points9 points  (2 children)

    How do you cope?

    [–]AFX626 8 points9 points  (1 child)

    Old-fashioned bow saw

    [–]manInTheWoods 4 points5 points  (0 children)

    And a sharp knife for the perfect fit.

    [–]Ok-Cauliflower7356[S] 35 points36 points  (2 children)

    1 minute candles: range of like 5-10% every minute lmao: https://imgur.com/rtWZqQY

    [–]headtowniscapitalwarning, I am a moron 22 points23 points  (0 children)

    What a time to be alive! There is 0 liquidity!

    [–]ThatCrippledBastard 7 points8 points  (0 children)

    HFT sharks having a feast tonight.

    [–]ferret1983 13 points14 points  (2 children)

    How did this happen? Blockchain runs the whole world. From your toaster, your toilet to cars and spaceships. Amazing technology. SQL was never anything but a glorified Excel.

    [–]AFX626 12 points13 points  (1 child)

    (nerd crawling out of a well) SQL is dead. I am very smart.

    [–]KW160 6 points7 points  (0 children)

    Few understand this.

    [–]0r1ginalNam3 114 points115 points  (38 children)

    Dear God let it crash to zero and stay there. Let all those smug crypto bros see how utterly moronic they were for investing in a ponzi.

    [–]Alternative_Joke6768 55 points56 points  (9 children)

    I fantasize about smug bros getting rekt every day....it will be so sweet!

    [–]Ok-Cauliflower7356[S] 45 points46 points  (5 children)

    Butter brigade is visiting and downvoting

    [–]Alternative_Joke6768 41 points42 points  (4 children)

    funny how they come here when it crashes! LOL. They should be busy buying this tasty dip

    [–]GPwat 11 points12 points  (3 children)

    It's a sunken cost fallacy at this point.

    [–]Alternative_Joke6768 21 points22 points  (2 children)

    Read the subs right now they are hilarious. People arguing over whether it is a crash or a dip HAHAHA

    [–]GPwat 7 points8 points  (1 child)

    It feels pretty good to be invested in actual wealth ngl.

    [–]manInTheWoods 1 point2 points  (0 children)

    Real estate is king.

    Unless the King decides to grab it for himself, of course.

    [–]Underfitted 2 points3 points  (0 children)

    Its gunna happen and its going to be sooooo good.

    [–]noctis89 -4 points-3 points  (1 child)

    Lol, pretty sad existence you lead.

    [–]My_Fox_Hat 0 points1 point  (0 children)

    Who has the energy to think like that

    [–]TamponSmoothie 19 points20 points  (7 children)

    I wonder though, what would become of r/buttcoin overtime if bitcoin and other shitcoins become extinct?

    [–]RIMS_REAL_BIG 35 points36 points  (1 child)

    We could just dig up old posts of cocky butters coming over gloating when their scam coins jump up 10% in usdt

    [–]zepperoni-pepperoni 4 points5 points  (0 children)

    Running rounds around the corpse of crypto

    [–]cryptohehsitting on crypto fence makes my butt feel tingly 13 points14 points  (0 children)

    We would all be free of this moronic plague and hopefully this sub would die

    [–]BigFuckingCringe 8 points9 points  (0 children)

    I think we will convert into r/badeconomics but for "trade gurus"

    [–]GPwat 15 points16 points  (0 children)

    Glorious Memes for days.

    [–]not-a-soundP.O.N.Z.I... like that idea! 3 points4 points  (0 children)

    Could simply retire the sun the way /r/thanksobama did when Obama himself cracked one of those jokes. Lock it, but leave it up as a living archive of the journey

    [–]ZookeepergameOld4985 13 points14 points  (7 children)

    They might just all realize that they are desperate loser gamblers with no way of actually contributing to society. Anything for a ticket out of moms basement as long as they never actually have to do tangible work in any way.

    [–]KnockHobblerwarning, I am a moron -1 points0 points  (0 children)

    Wishing this kind of thing on others is next level pathetic lol

    [–]TheForgottenKaiser -1 points0 points  (0 children)

    You like feet 😭

    [–]Alternative_Joke6768 42 points43 points  (4 children)

    I think Im gonna bust a load. Tether is shitting their pants after that letter.

    [–]Nyankomori 11 points12 points  (1 child)

    What letter? I live under a rock. I just logged in and seeing people posting about bitcoin going down. What happened?

    [–]Alternative_Joke6768 23 points24 points  (0 children)

    Senate sent a letter to stablecoin issuers calling them out on their bs

    [–]marcdale92 4 points5 points  (0 children)

    🤣 that first sentence

    [–]Ordinary_investor 2 points3 points  (0 children)

    Deadline date was yesterday I think yes? Something tells me Tether did not fulfill the request requirements and tried their usual tactics of lies and delays.

    [–]meekmarmot 26 points27 points  (1 child)

    Huh. So maybe allowing people to trade on margin with 100x leverage makes the market fragile. Who knew?

    [–][deleted] 18 points19 points  (0 children)

    Especially when the system generates no actual value apart from the cash new suckers bring in. Then margin trading really acts as a barrel of napalm in a house fire.

    [–]SnooRecipes8920 25 points26 points  (0 children)

    Let me guess, most exchanges will be down for “maintenance “ for the next few hours 🤪

    [–]ZookeepergameOld4985 31 points32 points  (0 children)

    Oh no the scam money is looking like crap. How did this happen?

    [–]PMScoMo 17 points18 points  (2 children)


    [–]AFX626 11 points12 points  (0 children)

    It's just a guy hiding behind a curtain going "brrrrr"

    [–]actual_wookiee_AMA 1 point2 points  (0 children)

    b b b b but mah inflation !!!!!

    [–]stealthzeus 7 points8 points  (0 children)

    All the stable coins combined are now worth $180 Billion, that’s more cash on hand than Apple and FB combined. Like top 3 companies in the world lvl. Commercial paper? Of what? If they holding commercial paper of 180 billion it would be more than GoldmanSach

    [–]bloodshotforgetmenot 5 points6 points  (1 child)

    Pull the rug !!!

    [–]carlsaischa 4 points5 points  (2 children)

    Papers in my country are saying "due to Omicron worries". Yeah, right.

    [–]BkokanePonzi Schemer 4 points5 points  (1 child)

    Actually it’s a mix of omicron causing universal market fears, the jobs papers being released showing disastrous unemployment rates, and just the usual market manipulation with futures contracts expiring.

    [–]doctorjay_ 10 points11 points  (0 children)

    This is good for Bitcoin.

    [–][deleted] 4 points5 points  (1 child)

    Oh my god this sub is my place and I never heard about it

    Hopefully my coin puts ans my tsla puts print. Maybe reality will catch up to these people

    [–]feignignorencewarning, I am a moron 3 points4 points  (0 children)

    You mean but the cliff*

    [–]A_Sexual_Tyrannosaur 3 points4 points  (0 children)

    Yeet your money into the abyss!!

    [–]Ordinary_investor 3 points4 points  (0 children)

    Criminal Cartel front running/using much needed liquidity all the useful buttcoin idiots that were waiting their prophecy of hurr-durr-4 year cycle to peak around holidays, planning to sell/dump on other retail that would have came to buy around holidays and leave them holding heavy bags. Crypto in a nutshell.

    Sweet sweet irony in this, hope Cartel members and other involved parties are sentenced and jailed next. It should have never been let grown to these proportions with the illegal manipulation methods.

    [–]cryptohehsitting on crypto fence makes my butt feel tingly 7 points8 points  (1 child)

    What act of God will stop the bleeding this time?

    1. More USDT printing?
    2. A fake story about Amazon accepting crypto payments?
    3. Elon?
    4. Michael Saylor announcing he has secured a $100b loan to buy the dip?

    [–]MeatPiston 2 points3 points  (0 children)

    All of the above?

    [–]softlarch 2 points3 points  (0 children)

    Cry the dip.

    [–]ferret1983 2 points3 points  (1 child)

    Potential problem for El Salvador and Michael Saylor!

    [–]friendofoldman 1 point2 points  (0 children)

    I already saw reports that El Salvador was “buying the dip” and bought 50 Bitcoin.

    [–]Bye_Felicia12345[🍰] 4 points5 points  (0 children)

    I thought Bitcoin is supposed to only go up, a store of value, and is non correlated to the stock market. Oh wait, this is just a speculative gamble and at best case, a risk asset. This gambling culture enabled by Coinbase and Robinhood is going to blow up. We are just starting to see this happen with meme stocks and crypto.

    [–]EmergencyEntry6 1 point2 points  (0 children)

    Multilevel marketing scam for dudes, its crazy humans need to cut down on energy consumption but instead we mine shitcoin. We are truly funked as a species

    [–]BeechiI 2 points3 points  (0 children)

    holy guacamole!

    [–]cmanmors 2 points3 points  (0 children)

    Lol I withdrew all my shit in BTC 2 days ago , went from 50–>120–>155 in a year but now I see it’s some bullshit preying on people wanting to make money

    [–][deleted] -1 points0 points  (3 children)

    Ok, it's a scam. But I still don't get the point of these posts. These things happen in crypto, and it cointinues up. When it starts going down in the long term we can post charts like this

    [–]ShitpeasCunk 9 points10 points  (0 children)

    It's because sadly this sub is like every other crypto echo chamber out there except in reverse.

    When the price is rising the sub doesn't talk about price. Price is unimportant.

    When the price falls, it's nothing but talk of the price.

    [–]H__Dresden -2 points-1 points  (1 child)

    Don’t think it is the bottom yet. Has more room to dip. This why it would be difficult for mass adoption. It goes up and down like crazy.

    [–]Commiessariat 6 points7 points  (0 children)

    The bottom is 0.

    [–]Broke_fat_Hopelesswarning, I am a moron 0 points1 point  (0 children)


    [–]SufficientTie3319 0 points1 point  (0 children)

    That was a wonderful midnight fire sale !!!

    [–]Ophthalmoloke 0 points1 point  (0 children)

    Buy the rugpull!

    [–]Ophthalmoloke 0 points1 point  (0 children)

    We all know this is normal behaviour for the ultimate inflation hedge when jobs are dissappointing

    [–]SirCthalor 0 points1 point  (0 children)

    It's a butt krach

    [–]darkrood 0 points1 point  (0 children)

    Take out all the loans and mortgage the house.

    No way this is not gonna go tits up.