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Drudge Retort: The Other Side of the News
Friday, February 06, 2026

Bitcoin is acting weird. The world's most famous cryptocurrency has now lost half its value from its October peak, falling below $63,000 Thursday for the first time in 16 months.

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The average cost to mine a single Bitcoin is now over $90,000. The price of Bitcoin has collapsed to $67,000. Everyone mining Bitcoin at the moment is losing a fortune.

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-- Jake Broe (@realjakebroe.bsky.social) Feb 5, 2026 at 12:33 PM

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Yeah.

The question I'm hearing is along the lines of ... has the dump of Bitcoin just begun, or is it over?

Currently, I'm leaning towards the former.

#1 | Posted by LampLighter at 2026-02-05 08:43 PM | Reply


One view ...

Michael Burry Warns of Cascading Effects From Bitcoin Plunge
finance.yahoo.com

... Michael Burry, who rose to prominence for his wager against the US housing market ahead of the 2008 financial crisis, warned that Bitcoin's plunge could deepen into a self-reinforcing "death spiral," inflicting lasting damage on companies that have spent the past year stockpiling the token.

In a Substack post Monday, Burry argued that the original cryptocurrency, which has fallen 40% since peaking in October, has been exposed as a purely speculative asset, failing to take off as a debasement hedge similar to precious metals. Further losses, he said, could rapidly strain the balance sheets of major holders, force selling across the crypto ecosystem and trigger widespread value destruction. ...


#2 | Posted by LampLighter at 2026-02-05 08:48 PM | Reply

"So now would be a logical time for a safe haven to surge.

Geopolitics have gotten spicy this year:

President Donald Trump is threatening to attack Iran after the United States removed the leader of Venezuela.

The US president has recently been going after allies in Europe and Canada over Greenland, and he's threatening higher tariffs on South Korea."

Good article.

;;

Uncle Scrooge Donald is manipulating the market as well as he can to enrich the Trump Crime Family.

But... he's terribly erratic and incredibly incompetent (and incontinent!), so he could lose it all like it was several casinos.

#3 | Posted by Corky at 2026-02-05 08:51 PM | Reply

""So now would be a logical time for a safe haven to surge."

How is bitcoin a safe haven when it requires the internet to work, and it doesn't even have residual industrial or clear aesthetic value, like gold?

Pssst. wanna buy some prime numbers?

#4 | Posted by snoofy at 2026-02-05 09:09 PM | Reply

Bitcoin Loses Half Of It's Value

It's because of risks like these that I invested my money in tulip bulbs.

Tulip mania was a period during the Dutch Golden Age when contract prices for some bulbs of the recently introduced and fashionable tulip reached extraordinarily high levels. The major acceleration started in 1634 and then dramatically collapsed in February 1637. It is generally considered to have been the first recorded speculative bubble or asset bubble in history. The term tulip mania is now often used metaphorically to refer to any large economic bubble when asset prices deviate from intrinsic values.
en.wikipedia.org

#5 | Posted by censored at 2026-02-05 09:29 PM | Reply

Comrade Boazo just lost the doublewide because of this.

#6 | Posted by a_monson at 2026-02-06 12:50 AM | Reply

How is bitcoin a safe haven when it requires the internet to work, and it doesn't even have residual industrial or clear aesthetic value, like gold?
- snoofy

The aesthetic value doesn't match the financial value.

Some one mentioned this interesting idea, that New York financial wizards capture and destroy the "value" of everything through fractional ownership.

Across all financial commodities we aren't paying the for the value of the commodity, just it's manipulation.

Housing, Gold, silver all suffer from fractional ownership through derivatives.

Bitcoin at one time had scarcity, but no longer, now it's all EFT, derivatives so now the price floats irrespective of the "asset".

No price is real.

Thought it an interesting idea

#7 | Posted by oneironaut at 2026-02-06 01:08 AM | Reply

Still not as bad as Melaniacoin which lost 99%

#8 | Posted by Nixon at 2026-02-06 12:03 PM | Reply

Dumbass Fake ----- Knows Zero About Finance

#9 | Posted by LegallyYourDead at 2026-02-06 12:08 PM | Reply

Bitcoin is losing value?

Is this linked to the ransom in the news?

#10 | Posted by Petrous at 2026-02-06 12:25 PM | Reply

Bitcoin is losing value?
Is this linked to the ransom in the news?
#10 | Posted by Petrous

You're live blogging your sundowning?

#11 | Posted by snoofy at 2026-02-06 12:27 PM | Reply | Funny: 2 | Newsworthy 1

One thing you can always spot when an investment has peaked is the radio and tv ads pushing it onto the general public.

The pattern is predictable as soon as the easy money is made, they start pumping it for people to buy it in their IRA's

Oil in 2005

Gold in 2011

Bitcoin in 2025

#12 | Posted by Nixon at 2026-02-06 01:32 PM | Reply

Don't Be A Coward! THROW YOUR MONEY AWAY!!

#13 | Posted by LegallyYourDead at 2026-02-06 07:27 PM | Reply

Although gold in 2011....

#14 | Posted by LegallyYourDead at 2026-02-06 07:27 PM | Reply

> Still not as bad as Melaniacoin which lost 99%
> #8 | Posted by Nixon

Dumbass Fake ----- Knows Zero About Finance
#9 | Posted by LegallyYourDead

I wouldn't go that far. She traded her often-rented, well-used lower body parts for a solid chunk of whatever Donald Trump has in the bank.

Did pretty well for herself, just like all of Trump's illegal immigrant mail-order brides from sheethole countries.

#15 | Posted by censored at 2026-02-06 08:43 PM | Reply | Funny: 1

DOW 50,000

#16 | Posted by Petrous at 2026-02-06 09:06 PM | Reply

Layoffs in January were the highest to start a year since 2009, Challenger says

Wow!

#17 | Posted by reinheitsgebot at 2026-02-06 10:02 PM | Reply | Newsworthy 1

Bitcoin hasn't lost half its value. It's real value is zero. Just like the USD.

#18 | Posted by visitor_ at 2026-02-06 11:27 PM | Reply

Like all your posts, wetbrain

#19 | Posted by LegallyYourDead at 2026-02-06 11:42 PM | Reply

... radio and tv ads ...

A you problem. I avoid any advertising in any way I can. Including turning it off and walking out. Whatever, I don't care what they have to say.

#20 | Posted by et_al at 2026-02-07 12:16 AM | Reply

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