This crash was desperately needed.

The past year I became relatively entrenched in crypto. I would check the charts constantly, along with research and spending way too much time doing so.

At a certain point, I had a large portion of my savings invested and began wondering if everyone was in some sort of fever dream.

New coins were coming out every second, and millionaires were being made via Binance token generator apps.

My dad said his yardman told him to buy doge…

I think crypto is clearly the future in certain regards, but it got way too hysterical and manic, which is not good for society or anyone’s time.

We need these massive crashes to weed out all of the scams, in order to make it a viable future.

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41 thoughts on “This crash was desperately needed.”

  1. After two years I am just right where I started and probably looking at 50% down in the next weeks or who knows

    A generation of btc maxis have been born I tell you that

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  2. It’s about time to call it quits and stop looking at it like a casino. It became an addiction. Every night before bed and waking up checking charts, all about crypto. I’m done with that life now.

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  3. Yeah, this crash will hopefully weed out a ton of the gamblers and shitcoins. I know they’ll all be back the next bullrun, but they don’t come back until the top is near anyways and they’ll all lose money *again*. Some of them won’t be back, some will

    The state of the market was completely unsustainable and full of people yoloing everything.

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  4. Congratulations, you’ve figured out the point of bear markets:

    -Kill weak projects;

    -Consolidate strong projects.

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  5. Facts. I eventually bought myself a cold wallet this year and threw my assets in it and I’m just chilling right now through this crash. I’m losing money but it’s for the best to get these scams and frauds to panic leave for a healthier long term.

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  6. Sadly, you are right. Now hard times are ahead.

    The real game starts now. Time to follow your strategy and enjoy life. If someone really needs to talk I am here for you. Don’t hesitate in contacting me.

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  7. 2nd bull leg of 2021 should’ve never happened IMO, it just pushed from a crash into the same ATH. We should’ve experienced a bear market after early 2021 rally but yeah.. accumulate time finally begins now.

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  8. The bear is a good time to clean from the fast money gang. Also time to re distribute BTC among those who actually want It for the long term not for a quick buck

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  9. If you’re not prepared to be down for at least another couple of years, take your losses now, this drop will scare many many potential investors away for a long time, don’t get sucked into this buy the dip shit, unless you can take a no profit situation for quite some time

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  10. it’s not just a correction in terms of dollar value, it may also be a correction in terms of quality. Only good shit that’s actually worth it may survive this

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  11. “My dad said his yardman told him to buy doge…”

    Arre you my girlfriend ? Because her father’s yardman told him the same thing :p

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  12. Fiat price doesnt matter, its literally the least interesting thing in this space.

    The people selling now never had faith in crypto anyway.

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  13. I’m 90% alt coins and plan remains unchanged. Sure I exited a few positions and took losses but still DCAing down and moved to coins that ‘should’ (fingers crossed) survive the bear. HOLD, stake, and hibinate for the winter and hopefully re-emerge in some profit. Hopefully people can mitigate losses and re-establish some strong positions and wait it out.

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  14. I sold out in Jan for little profits and kept USDC for “safe” interest. Today after UST collapse, I have zero trust in anything and cowardly cash it all into fiat, maybe stupid but it’s risk free.

    Same for stocks, liquidated 95% in January to lock in the last 30% profit (down from over 100% paper gains ATH). Still hurting that 5% is heading to zero…Make no mistake im not happy or even at ease with my life at all, these crashes and continued downtrends are still so painful, like i just feel the pain you all enduring, and i know it’s unimaginable at this point i been in these markets for only a few years but still feel too attached.

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  15. Shit was getting out of control. 1000’s of shitty meme coins, useless NFT’s selling for ridiculous amounts, DEFI projects popping up every other day with unsustainable interest rates. Hopefully this flood will wash away some of the garbage.

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  16. Remember kids, only invest what you are willing to lose. There are no guarantees.

    I truly believe in the future value of crypto, and with value I mean the utility, not necessarily the fiat price. So that is why I am invested in crypto.

    My portfolio is down by probably 70%, but the projects I am invested in are making really good progress. Now the only thing left are some good practical use cases, but I think those will come when the ecosystems are better. Just like with the internet half a century ago it takes time. Even the internet only became somewhat useful in the late 90s – early 2000s.

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  17. Big contributions to BTC and ETH and small ones for XLM, XRP and ALGO

    My boring utility coin bags are my hope..

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  18. Lots of DW Markets have been down since the beginning of May to I think? , I bet they’re all cashing out.

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  19. >We need these massive crashes to weed out all of the scams

    LMAO I’ve been hearing that for years…….

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  20. It’s 2017 all over again, back then it was ICOs with millions being thrown at any new token that came along. Millions made and lost.

    Now we retrench and think about what the next phase of crypto looks like.

    Reply

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