Bumping a link that no longer exists is lame.
More crypto news for you investors:
- Thread starter The Peeper
- Start date
Y’all keep buying Monopoly money and diversifying with gold. I’m gonna keep going all in with ET.
I forgot about that option. I'm all in now.***
Only a Sith deals in absolutes... not counting this one.
The link doesn't work for me. It probably doesn't like my Firefox browser.
Does the linked report provide a clearly-worded, detailed explanation of crypto that I can understand? I'm still waiting for that to happen . . .
Bitcoin is fairly easy to understand. The others, especially Ethereum and solana, are not.
I have read countless articles, watched countless documentaries(well probably like 4) and listened to countless podcasts about the history, process, use cases, and potential for Bitcoin, and I always walk away feeling as confused as this guy.
It doesn’t work for anyone. But, feel free to bookmark this post URL for a simple explanation.
Crypto is yet another financial market that has its own unique design of moving money (real money, the kind you can hold in your hand) from the hands of stupid and impatient people into the hands of smart and patient people. The end.
Yeah. Anyone who says they understand Bitcoin probably understands even less than I do.I have read countless articles, watched countless documentaries(well probably like 4) and listened to countless podcasts about the history, process, use cases, and potential for Bitcoin, and I always walk away feeling as confused as this guy.
The only real longterm threat to crypto is the US govt, and to a lesser extent, the Chinese. But, those two entities are huge threats to the world economy in general, for very different reasons.
FTX did help you understand one thing. Crypto currency is unregulated and a dangerous investment.
What was the name of the SPS crypto guy? I don't think I've seen him post since crypto took a dump. Not sure I understand the motivation of existing on SPS for the sole reason of pumping crypto?
That link is 11 months old, I barely remember posting it or what it was even about now. Too much bad baseball and football has happened since then....
If you invested in Bitcoin at the time of the original post you nearly doubled your investment. If you invested in Solana (FTX), at least tripled, perhaps more. Ethereum hasn’t recovered quite as well…but has popped the last few days.
Did not answer my question. I can't recall the username of the guy...
What exactly is the world economy and are China and the U.S. just threats to it or are they essential? What makes the U.S. a threat to the world economy?
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it was like Quincy Wagmire or something like that. He would post sec only baseball stats when our website didn’t have them for which I’m forever grateful
This post is a good example of one the things I have always found bizarre about thinking of Crypto enthusiast (for lack of a better term). They act like its something to get behind because its a "good thing", like phasing out the internal combustion engine. Plus, its a replacement for cash, a can't lose long-term investment that will make you rich, and something that will help the "common good" all rolled it one. If it turns to ****, its will be because of some conspiracy and people "not giving it a chance" - not because any economic reality. Its all contradictory.
Without typing way too much…we saw what the printing of money has done to the world economy since COVID. All western countries did it but the world economy is tied to the dollar…to the Fed…originally tied to gold. We are all tied together now. The most powerful government “body” in any country is not a branch but the US Fed, and it’s not even close. Countries struggling before COVID are in serious, serious trouble. This is all due to printing money.
We can destroy ourselves and history shows that we are and eventually will. Crypto, specifically Bitcoin when referencing this topic, is doing/has done what gold should have done. Economists, especially conservative ones, are puzzled why gold hasn’t exploded. It’s because they ignored the new tech. Bitcoin is a hedge against inflation. It’s why El Salvador has adopted Bitcoin. That has been a disaster in the short term, btw.
As an aside, the dominance of the US is tied to the dollar. The economy of the U.S. and China are essential to each other. We need China to survive but they do too. China is in decline and is getting aggressive to try to prevent it. India will be the dominant power in the East in the near future and could pass the US quicker than we would like.
I’m not advocating being nuts with any crypto, especially if you are counting on needing the funds in the future at a specific point in time. It’s not a set it and forget it. At a minimum, sell all your gold/silver and put it in into crypto and/or put 5-10% of your portfolio into it. And hell, you can just convert your dollars into USDC and get a guaranteed annual 5% return if you don’t want any risk.
the current movement in btc is because of the 5% suggestion. when the SEC eventually approves a spot ETF then there will be 50T available to diversify their 5% into btc and not need to use an FTX exchange
I like to triple my bet after I lose, so I do better than break even. I typically go with around $50k to minimize the chance of catastrophic loss
So what's the world economy?
"We can destroy ourselves and history shows that we are and eventually will." Sure we can but we're not and history doesn't show what I think you're implying. The 2008 financial crisis was worse and we just came out of a pandemic where we overreacted with lockdowns.
What does history show about crypto (crypto isn't gold)?
I've read where China's been in decline for two decades. Maybe. Maybe not. We'll see about India.
I don't own crypto and don't plan to.
"We can destroy ourselves and history shows that we are and eventually will." Sure we can but we're not and history doesn't show what I think you're implying. The 2008 financial crisis was worse and we just came out of a pandemic where we overreacted with lockdowns.
What does history show about crypto (crypto isn't gold)?
I've read where China's been in decline for two decades. Maybe. Maybe not. We'll see about India.
I don't own crypto and don't plan to.
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