Even in the past year, it has been lower.
Posted on 01/22/2022 8:23:11 AM PST by millenial4freedom
Name me a government that does that as they all are furiously running their printing machines. The only thing they have going for it is that it is fiat, meaning you can accept it as settlement of a debt or forget about colleting.
Go read your Milton Friedman. Money is whatever people accept as a means of storing and exchanging value. It has few principal measures: faith, quantity and convenience.
Anyone having to try to execute a transaction through any of the small number of too-big-to-fail banks realizes that convenience was long ago sacrificed in the US currency system. Quantity is however much of the stuff the Fed wants to print and faith, well I don't know how much faith people really have since they are looking for alternatives.
> Everything else has been in a pending collapse all my life... <
Ha! As the old saying goes, economists have predicted ten of the last two recessions.
i invest in bitcoin but not much. They are half right. There was a crash but I didn’t go bankrupt LOL. If you dont do your homework, especially in bitcoin, dont go into it.
...and your little dog too.
Tulip bulbs should have already been in the ground.
IMO people will start getting back in at that mark. I have no immediate need for the money so even if i buy at $30K and it drops to $20K, i am willing to hold on for the ling term.
I’ll also buy an ETF rather than the bitcoin itself.
I have no issue with long term so if i buy at $30K (i invest in ETF’s, not bitcoin itself) and it drops to $15K, I’ll just hold on.
Don’t get me wrong. They have already kicked the can much further down the road (trying to avoid the inevitable) than anyone imagined they could. They simply are out of weapons to undo what they created over the last 100 years. We are at the day of reckoning. But even then, what is protecting crypto other than raw faith?
i.e. as bad as Fiat money is as a stable store of wealth, Crypto is worse, IMO.
Even in the past year, it has been lower.
“Chicom military; no combat experience, “
My cousin who serves really CLOSE to the DMZ in Sokor, told me many years ago, if there was a one vs one battle with US and chicoms, they will LOSE.
Why? When was the last time china was at “war’ with anyone? The closest are the border “skirmishes” with India.
That’s why the deep state sends us to idiotic wars like Iraq 2003 to train our soldiers. We gain experience everytime, they dont. and that’s why they hesitate to invade Taiwan.
I have just a few thousand in, just to keep track of the price movement.
The interesting thing is that the people who bought crypto because the dollar isn’t “real” value are now trading their crypto back into those “worthless” dollars. Why didn’t they all buy gold or silver, which haven’t made a new high (adjusted for inflation) since the 80’s? Gold and Silver have moved very little so they didn’t go there.
The other interesting thing is, crypto went up nicely until the market had a 5% hiccup and then crypto dropped huge. Crypto is tied to stocks? Why?
Which is the stronger currency, stocks/dollars or crypto? Imagine if the stock market or dollar trading was as volatile as crypto.
If crypto is the better alternate currency it should be going up right now, not down.
I had someone that worked for me abruptly resign last year, and told me to my face they had 100 Bitcoin worth $5M, which would have been at $50K each near its peak.
Rather than give them the shocked and I’m so impressed look they were probably expecting, I simply shrugged and said “that’s great, but I would probably sell most of that if I were you, if you’re going to retire now.” After that, they quickly left, but I hope they’e doing ok, as we quickly filled that opening.
“Something that is 30000 dollars a share has a lot of air underneath it.”
That amateur investor silly talk. If 1 share goes from 30k to 15k you lost 50% of your money, same as a $3 share where you own a thousand shares and it goes to 1.50.
“IMO people will start getting back in at that mark.”
Why? Round number effect? Prior trading level? I’m not trying to be a jerk I just don’t get what supports any particular value for crypto.
Agree.
Some of you are missing his point. The problem with crypto is that it has democratic distribution, and is even heavily saturated in communist countries (even though 'outlawed' lofl) in personal holdings; and many of those mandarins hold crypto as their greatest asset, their only asset (hello, communism).
Apartment not worth spit, no ronger refi, must still eat bang bang shrimp, ru unroad Ritcoin!
It's remarkable that BTC could lose more than half their value, recover, then lose over half again, in less than 12 months...
Where hath history witnessed a bubble acquire a late-stage vortex before? Gee, I can't imagine...but surely a Terribly Unbelievably Lame Investment Protocol.
History. When it reaches a certain low level people will see it as good value and get back in.
No, fiat money is backed by governments that want to steal your money by printing more and devaluing yours.
"The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation." [emphasis mine]
-Vladimir Lenin
I have seen that look. My contemporaries (millennials) are fond of crypto but haven't a clue what they're playing with. Me, I flip real estate. You can see it, touch it...sometimes I have to fix it but by God it never vanishes overnight.
“We are at the day of reckoning.”
You do know that’s a 60 year-old claim, right?
There’s a reason fiat money has lasted since the cavemen used clamshells as money.
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