FLASH's avatar
FLASH flash@primal.net 4 days ago
⚡️💬 NEW - Luke Gromen says that he reduced his Bitcoin portfolio substantially at $95,000 and thinks it’s going a lot lower. - Risk of quantum computing - Not making new highs vs gold - Lots of selling from whales - Charts broke down 6 weeks ago - Believes 4 year cycle is playing out

Replies (33)

Pascal's avatar
Pascal 4 days ago
He’s right. It’s probably better to buy again once bitcoin falls below $50-55k.
OT's avatar
OT 4 days ago
Good luck with that.
jgbtc's avatar
jgbtc jgettbtc@jgett.com 4 days ago
"risk of quantum computing" 😂 NGMI If quantum is a risk to bitcoin it's a risk to everything that depends on cryptography, including online commerce, banking, finance, and communication.
Gaftoso's avatar
Gaftoso 4 days ago
Bitcoin Tina all over again lol
Bitcoin Awareness's avatar
Bitcoin Awareness 4 days ago
The biggest mistake, including among most Bitcoiners, is pricing Bitcoin in dollars or any other fiat currency. This framing quietly accepts the logic of the very system Bitcoin was created to replace. View quoted note →
1 replies ↓
Judge Hardcase's avatar
Judge Hardcase 4 days ago
... all reasonable observations. With regard to "watching what Tether's doing", however, I strongly suspect he's referring only to Tether accumulating gold more so than bitcoin. I seriously wonder if he's even aware that Tether has an obligation to hold gold vis a vis their issuance of Tether-Gold tokens (which, in relative terms, has recently exploded). That is, I see Tether's efforts to focus more on acumulating gold as anticipation of a growing gold token business rather than necessarily projecting gold to appreciate more than bitcoin.
Kayne's avatar
Kayne kayne@nostrcheck.me 4 days ago
What is the actual risk that quantum computing poses? If anyone is familiar? Brute forcing seed phrases? Mining every block? Or like something else? I don't think it's a risk for a long time, unless of course if it's the sole reason for all the research China is putting into quantum computing. If that was the case I'd be worried.
Kayne's avatar
Kayne kayne@nostrcheck.me 4 days ago
Personally I think this is a big contributor to why OG bitcoiners are cashing out. A lot of them also never really had a chance to spend their wealth before, it wasn't just about price, it was about what you could spend it on, adoption is still slow, but swapping it for other currencies has become easy, so that's obviously what they need to do to spend it. Imagine holding since it was under $0.05, having hundreds of Bitcoin. Not really being able to spend it on anything this entire time, obviously you're going to dump some I'm exchange for a different currency you can actually spend. Idiots say store of value before means of exchange because they're stupid. image
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npub1ffj8...47cd 4 days ago
I remember Luke also talking about peak cheap oil three or four years ago and it's been going down in price ever since....
cavemanf16's avatar
cavemanf16 4 days ago
I like the appeal to “I’ve been in the market for 30 years” as if that tells me all I need to know about him being an expert. Dude, that tells me you know everything there is to know about fiat business cycles, which means you know nothing about actual money.
1 replies ↓
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nobody 4 days ago
These macro fortune tellers are worthless
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Comte de Sats Germain resonance@zaps.lol 3 days ago
Step 1 : start finance bro yt channel Step 2 : wear suit, cosplay being a "serious people" Step 3 : wait for Jaimie Demon to slide a briefcase full of cash under the table and say whatever he wants Rinse and repeat. Yachts. Bikinis. Martinis.
Currency of Distrust's avatar
Currency of Distrust currencyofdistrust@primal.net 3 days ago
He’s been consistently wrong and blowing smoke up podcasters ass for years. I’ve never once listened to him and felt like he had a logical position. It’s just fiat maximalism. But he said nice things about bitcoin so he got popular.
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Yogstr 3 days ago
Is the bird the same guy?
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I Am Muslim 3 days ago
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Jean DuBois's avatar
Jean DuBois 3 days ago
The reason bitcoin will substantially increase in price is political. The OG’s don’t understand this, the chartboys don’t understand this, and the quantum computer apocalypse people don’t understand this. I’m sorry, but the quantum computer people are to me as credible as the fusion-reactor-in-two-years people. I hodl in peace.
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