If some mischievous person decided to release a "Soul Coin" and "Honky Coin"...which would have the higher price and mkt cap?
IT BEGINS !!
- Thread starter SilverSale
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If some mischievous person decided to release a "Soul Coin" and "Honky Coin"...which would have the higher price and mkt cap?
I think waiting for price corrections like that could be a forlorn hope. We got 59 down to 43. That was pretty good. I got in at 46. I'm happy with that.
Best strategy for the average person right now, I think, is DCA.
Edit ToAdd : DCA and BTFD
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I’ve not seen it yet but I have the impression that the Fed wants a weak dollar. Once you can give out stimulus, you can just depreciate the dollar and give out handouts or even food to the lower class. Of course the middle class will be squeezed but they are less likely to revolt.
Yes, but there are consequences to the fact that you have virtually zero interest rates. And that is that massive amounts of money can be borrowed for virtually nothing. If that money then gets plugged into BTC, and enough people do it, then BTC sky rockets. BTC is kind of a short on the existing financial system. As faith in BTC goes up, faith in the old system goes down. This may result in the dollar falling in value in a disorderly fashion, resulting in stronger inflation and all the negative societal effects that come with it.
That's kind of the TLDR. I recommend you watch the video to get the full story. I've watched it multiple times now. I don't know if things will play out this way, but Max's logic seems impeccable.
Until rates start picking up again.
See: Bonds
Tried listening for 5 mins, but it's too long unfortunately. I don't believe that BTC is a short on the financial system. We can put that into test in the next major stock market correction.
As for why a weakened dollar is advantageous, there are many reasons. First is you gain a competitive export advantage if your currency is gradually depreciating. Imports become more expensive so this helps domestic producers. It is like a tariff but without the political backlash. Secondly, a weakened dollar will boost commodities and the US is a major commodity producer so this will help the US in the same manner as a weakened ruble helped Russia. Last, inflation will reduce the actual value of debt owed and the US is a net debtor nation. Likewise, creditor nations (savers) will see their wealth devalue.
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But they are going to have to crush them down. Right? They can't let interest rates go up because there is too much debt. I mean, just think about what that will do here if IR's go up.
The more I think about this, the more I am starting to think this is the final super cycle for BTC. Just thinking about it, do we really believe there isn't at least one country that doesn't have some agents surreptitiously buying BTC? That they are all just watching as the Saylors and the Musks of the world gobble it up? Even if it is only a smaller country that sees an opportunity to make money? Or an Iran that can easily assign money to something and not have to be held to account like a democracy would?
And then if you think it through further, do we really think that intelligence agencies are not monitoring the blockchain? And that they will eventually pick up on this and figure they need their own strategy for buying BTC? And then you cross-reference these ideas with the fact that liquidity is drying up on the exchanges. Shit. I think we may well see this all play out over the next year or 2.
You're missing the point.
I've been reading a lot about bonds and rates the past couple of weeks. My conclusion now it's all BS. There's a lot of rubbish disinformation in the market at the moment. The same kind of disinformation on energy late last year which I ignored and continued buying. The goal is to trick the retail investors to dump their stock while the hedge funds loaded them up on the cheap quietly.
citi knew in 2014 https://www.citivelocity.com/citigps/bitcoin/
why would a major bank say something like that?
why would a major bank say something like that?
oh dear https://www.fxstreet.com/cryptocurr...pens-cryptocurrency-trading-desk-202103011755
this marked the top of the 2017 market, time to sell.
this marked the top of the 2017 market, time to sell.
They've been wrong on so many things now over the last decade that it's embarrassing. It was a great place for robust discussion in the first few years and went downhill when they started banning / moderating / ad hominem attacking the commenters that didn't align with the narrative they were trying to push.
I held on and didnt sell for this correction and it was painful to watch haha. I'm not doing that again!