I know nothing about crypto or NFTs and i would like to keep it that way but please tell me that crypto crashing means nfts are going away too? PLEASE

Crypto and NFTs have both experienced HUGE crashes over the past few weeks, leading to some absolutely delicious headlines like this:

But the most notable crypto-crash nightmare is definitely LUNA, founded by Do Kwon, a truly obnoxious and unlikable dude. In three wild months, Luna went from about $50 to almost $120 to... oh dear.

LUNA was a supposed "stablecoin" with low-risk frequently peddled by big finance-bro influencers on twitter. This crash is historic, unprecedented, and kind of hilarious. I'm still watching from afar with opera glasses while this goes down.

I bring you schadenfreude. 

Inside the Cyrpto Crash with Zeke Faux by Adam Conover

Cryptocurrency is a cult.

Crypto is an anarcho-libertarian Ponzi scheme. Creating pretend currencies is not a rational economic strategy.

(via Bitcoin Burnt Chiffon Top by ZinnatBanli)

Part of me is like ahahaha divine justice in the crypto crashing. The other part of me is like oh shit I hope my cousins fiancé who has the personality of an over excited poodle and bought into the ideals of crypto hasn’t lost any of his savings.

Placing my bets now: cryptocurrencies are going to drop again in the last few days of July or the first few days of August, and then totally crash in October.

End of July because of interest rate increases, October because it's a new quarter. We've seen crypto-related businesses frantically pumping the value up at 11:59 pm the last day of the quarter to make it look like they're not screwed, and if they can't do that again it's going to be bad.

So anyway, my guess is that other than a few bounces crypto is going to be on its last legs by the end of the year. It'll never go away entirely of course, but this is a good start.

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I have obviously been talking a lot about it, right, for more than a year now, when if you googled ‘crypto’ and ‘bubble’ together you’d get, like, two results, of which one was ‘Bubbles usually get identified in retrospect,” says William Derringer, an MIT historian who has extensively researched financial bubbles. “If we knew with absolute certainty that Bitcoin’s was a bubble, it would have already popped.’

Now all I am saying is, as I said back then, it is impossible that a bunch of fuck wits like myself saw this, while the world’s greatest economists did not.

Really, really curious how no ‘reputable’ media source nor journal have even attempted to look into the one major thing every corp and billionaire had massive interest in keeping artificially inflated.

One does wonder. So curious. Guess we’ll never know.

Also can we guillotine this dying sack of rot?

Hands bloody from catching all those falling knives . . .

Crypto crash: Cryptocurrency market lost over $400 billion in two days, indicates Iran Israel issue

Total market capital of all cryptocurrencies dropped by over $400 billion within a two-day period as BTC leading the charge by dropping $10,000. 

In a sudden and sharp downturn, the cryptocurrency market lost over $400 billion in just two days, with Bitcoin (BTC) leading the charge by dropping $10,000. This drastic decrease not only impacted Bitcoin but also sent a ripple effect across other altcoins, which experienced even steeper falls. This event marked one of the more severe losses in recent times, highlighting the volatile nature of the crypto market. By the end of the two-day period, the total market capitalization of all cryptocurrencies fall from nearly $2.8 trillion to approximately $2.330 trillion.

The reasons behind this steep decline are multifaceted. Rising geopolitical tensions between Iran and Israel were noted as a possible catalyst for the drop. Additionally, other factors such as profit-taking by investors after a period of price appreciation, a natural market correction, or negative news and regulatory uncertainties could also have played significant roles. These elements combine to create an unpredictable environment, typical of the cryptocurrency markets, where prices can swing dramatically in short periods.

Read full article here...