IT BEGINS !!

Discussion in 'Digital Currencies' started by SilverSale, Dec 22, 2019.

  1. dozerz

    dozerz Well-Known Member Silver Stacker

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    bnb being the onboard and off board for binance smart chain, some sites offering 1000% interest on deposits, its a no brainer. musical chairs game has started, just get a seat before the music stops.
     
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  2. hawkeye1

    hawkeye1 Member

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    Still seeing these dumb bubble claims. Either we are in a bubble or we are in the middle of a major phase transition in our financial system. Considering the fragile nature of the current financial system which is requiring regular injections of billions of dollars of liquidity just to keep it afloat, I know what I'm betting on. Billions of dollars leaving it and going to crytpo won't be helping it's cause.

    As many have said, for something to be adopted, it must go up in price and to do that it needs to have a certain amount of volatility. If you are scared of that, then just wait until it's all over.

    But hey, 1 Trillion Market Cap!!! Now we are talking!!!
     
  3. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    I would argue that is definitely not the case.
    BTC/Crypto is a zero-sum-game.
    The fiat dollars never leave the economy.... just get passed from one hand to another.

    To add, without fiat dollars to value Crypto, Crypto is worthless.
     
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  4. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Nah, you could say that about anything. Prices are attached to goods/services for purely transactional means.

    Stuff has a price on it because it is valued, not because it has a price on it. :)
     
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  5. dozerz

    dozerz Well-Known Member Silver Stacker

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    how much is a censorship resistant non fungible unit of trade worth?
     
  6. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Agree to some extent.
    However, all Crypto.... and PM's for that matter.... in fact, 99% of anything has a price attached that is referenced back to fiat - if nothing more than for a base-reference to compare value.
    This is part of the reason I have hesitated to join the party - as soon as the fiat reference of price/value disappears, so the Gubmint will make crypto disappear IMHO.
     
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  7. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    How do you see that playing out? Banning?
     
  8. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Not sure, but indications are already there.
    Regulation of exchanges?
    Regulation of the financial industry and institutions against facilitation of exchange in cryptos?
    Using anonymity of cryptos as the excuse to stamp out such practices (real or make-believe) as money laundering, cross-border transactions, and tax evasion, illicit activities, financial terrorism?
    I Australia, the trend for the Govmint to eliminate anything good thing they want is to tax the shyte out of it - they remain innocent of banning or censorship, and increase "revenue" until said item is no longer popular.

    It has already begun: https://www.bloombergquint.com/opinion/caveat-crypto-beware-purveyors-proponents-of-cryptocurrencies

    Not even sure they will be able to totally stamp it out, but they could make it more difficult than it's worth.
    At the very least it wont be difficult to flush out all the current blow-ins to the BTC euphoria (mum & dad, Aunty and Grandma), and that will surely hurt it.
     
    Last edited: Feb 20, 2021
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  9. heartastack

    heartastack Well-Known Member Silver Stacker

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    mans again it comes up at our weekly factory meeting and this time the boss is concerned his son would rather trade btc and has lost interest in the family (productive) business. Fkn lol
     
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  10. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Regulation of exchanges and OTC brokers has actually facilitated the adoption of crypto. The very act of enforcing legislative compliance upon the crypto industry has strengthened it and made it less susceptible to government interference.
     
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  11. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Very paradoxical statement?
    The very act of enforcing legislative compliance WAS government interference.
    It would seem to me the act of legislative compliance reinforced the notion that the government can control it any way they want to.
     
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  12. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Legislative compliance is what has given the institutions the confidence to get on board. Now that they’re on board it will be more difficult for governments to interfere in the market coz there’s more at stake.
     
    Last edited: Feb 21, 2021
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  13. hawkeye1

    hawkeye1 Member

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    Australia will be just shooting itself in the foot if it does that. Not impossible, given the morons we have here who think sending house prices higher is the be-all-and-end-all when it comes to generating wealth, but at the end of the day, Australia is only 25 Million or so people so it won't have any effect in the scheme of things.

    There is too much at stake in America for it to be banned there. Too many rich people holding it, too many Wall Street types holding it, Elon Musk, etc... These people have influence in Washington. In fact, all evidence at the moment suggests that more and more people in relevant govt positions are friendly to it than not.
     
  14. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    @wrcmad just ask yourself how often the government interferes in the share market, that'll give you some indication of how it is going to deal with the crypto market when it comes to investors.
     
    Last edited: Feb 22, 2021 at 2:40 AM
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  15. hawkeye1

    hawkeye1 Member

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    Fiat just happens to be the current measuring stick for all things at the moment, that's all.

    If fiat wasn't around any more we'd need a new measuring stick and we'd measure all assets from Gold to Bitcoin using the new measuring stick.

    If the price of Gold goes up, it's generally regarded, because it's historically been a monetary asset, that faith in dollars is going down. Likely because too many are being printed. Bitcoin will more and more take that role in the future. In such a situation those holding the dollars find that they are actually worth less and less, while those holding the Gold/Bitcoin still have value.

    It's zero-sum only in nominal terms. That doesn't really help when the price of your loaf of bread keeps going up, does it?
     
  16. heartastack

    heartastack Well-Known Member Silver Stacker

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    Absolutely, civilization needs bitcoin to succeed (progress) imo. Doesn't mean a whole lot of people aren't going to go bankrupt in this mania to get us there though. If this pattern continues to occur it's simply (my strategy) to load up on cryptos and hide in the safety of gold during parabolic moves. Switch and manage accordingly. Play miners and derivatives for leverage. There are so many great ways to play the sound money game now, it's good for all of us.
     
  17. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Agree with you 100%.
    However, the hypothetical that "If fiat wasn't around any more ..." will never come to fruition. The Gubmint would lose control, so they won't let it happen. Thus, we are left with the status quo that fiat will always be used as the measuring stick.
    While I also agree the devaluation of fiat is a race to the bottom ATM, the devaluation risk of BTC is but a mere passing of legislation too.
     
  18. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Passing legislation that would wipe out a USD1trillion industry? Be like passing legislation that bans social media outlets or electric cars. ;)

    Screen Shot 2021-02-22 at 2.44.22 pm.png
     
  19. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Industry?
    Bit of a stretch to liken BTC MC to a company MC?
     
  20. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Well that's how it's being compared, like it or not. ;)
     

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