I was talking to few teenagers in Starbucks. They all have bitcoin but no one knows anything about how it works. This idea has really charmed them.
All cryptos are useless. They have no value whatsoever. Not good even for smart contracts. Distributed ledger will not work because you have to pay the miners for every transaction and it's a significant amount. Crypto go to zero as transactions go to infinity but way before that really.
The only thing you need to know about bitcoins is it went from $1 to $65000 so you better buy now before it is too late. Remember the enthusiasm of owning houses in 2008? Remember the prices of stocks in 2000?
What have been good for cryptos are people with lots of money buying them and celebrities promoting them.
You are talking about transactions. Who pays for transaction? Are there any costs to transactions? Let's assume cryptos over take US dollars for currency, what happens when there are trillions of transactions per day? What happens when one of the kinks in the crypto chain is broken? Who is responsible for fixing the problem?
Cryptos have a long way to go and will probably go through many versions of implementations before they can over take US dollars.
As for the argument that crypto is a store of value, it has value as long as people believe it has value.
I have not read much on cryptos so I'm staying out.
All valid points. However, elephant in the room is this: there are 10000 plus cryptos today and more coming. Even if you fix each at 21 million like in bit bit bit bitcoin.. , supply far surpasses number of fiat dollars. Why no one considers that ? Everybody mentions this and that and but the elephant in the room
"I had intended to hold my Bitcoin for the very long term — it never even crossed my mind to sell it,"
Capitulation has not happened yet. I think Bitcoin is headed to 30 k and this time it will not hold. 20 K is next target. Will consider buying on capitulation day.
From the Top BTC lost more than 50 % in one month. For me BTC is interesting for Trading. Im not really interested in investing in BTC. Why should I follow a buy-and-hold-strategy in that volatile market? Makes no sense to me. "It's never wrong to take profit."
Switzerland: NATIONAL BANK SNB wants to maintain ultra-loose monetary policy. "The franc remains highly valued, inflation is only just above zero, and production factors are not yet fully utilised in Switzerland. Against this background, ringing in the balance sheet reduction and tightening monetary conditions would be completely premature. It would be wrong to signal to the world now that the SNB is the first central bank to envisage a restrictive policy," says SNB President Thomas Jordan.
FRANKFURT (Dow Jones)- Ecofin ministerial meeting in Lisbon.
EU economy and finance ministers expect a strong economic recovery in Europe given the opening of borders and the resurgence of tourism.
The recovery would have to be based on sustained investment on the basis of national recovery plans so that the EU Commission could raise the planned 750 billion euros in aid money on the capital markets. Economic protection measures should not be withdrawn too early to ensure a full recovery of the economy and to avoid a sudden increase in insolvencies.
I was talking to few teenagers in Starbucks. They all have bitcoin but no one knows anything about how it works. This idea has really charmed them.
All cryptos are useless. They have no value whatsoever. Not good even for smart contracts. Distributed ledger will not work because you have to pay the miners for every transaction and it's a significant amount. Crypto go to zero as transactions go to infinity but way before that really.
The only thing you need to know about bitcoins is it went from $1 to $65000 so you better buy now before it is too late. Remember the enthusiasm of owning houses in 2008? Remember the prices of stocks in 2000?
What have been good for cryptos are people with lots of money buying them and celebrities promoting them.
You are talking about transactions. Who pays for transaction? Are there any costs to transactions? Let's assume cryptos over take US dollars for currency, what happens when there are trillions of transactions per day? What happens when one of the kinks in the crypto chain is broken? Who is responsible for fixing the problem?
Cryptos have a long way to go and will probably go through many versions of implementations before they can over take US dollars.
As for the argument that crypto is a store of value, it has value as long as people believe it has value.
I have not read much on cryptos so I'm staying out.
All valid points. However, elephant in the room is this: there are 10000 plus cryptos today and more coming. Even if you fix each at 21 million like in bit bit bit bitcoin.. , supply far surpasses number of fiat dollars. Why no one considers that ? Everybody mentions this and that and but the elephant in the room
Musk is thinking which coin to pump next. It's taking a lot of time because there are over 10,000 to choose from ! I understand him.
By the way: Tesla is a Ponzi Scheme.
F. Y. I.
Jan 14 | The Bit Short: Inside Crypto’s Doomsday Machine
If you own meaningful amounts of cryptocurrency or you’re considering buying some, you’re the reason I wrote this. Please do read to the end.
CRYTOS / TETHER Ltd. / Manipulation / >> interesting
https://crypto-anonymous-2021.medium.com/the-bit-short-inside-cryptos-doomsday-machine-f8dcf78a64d3
"I had intended to hold my Bitcoin for the very long term — it never even crossed my mind to sell it,"
Capitulation has not happened yet. I think Bitcoin is headed to 30 k and this time it will not hold. 20 K is next target. Will consider buying on capitulation day.
From the Top BTC lost more than 50 % in one month. For me BTC is interesting for Trading. Im not really interested in investing in BTC. Why should I follow a buy-and-hold-strategy in that volatile market? Makes no sense to me. "It's never wrong to take profit."
Take the money and get it out of Coinbase because who knows when they go bankrupt. Talk about run on the bank
Switzerland: NATIONAL BANK SNB wants to maintain ultra-loose monetary policy. "The franc remains highly valued, inflation is only just above zero, and production factors are not yet fully utilised in Switzerland. Against this background, ringing in the balance sheet reduction and tightening monetary conditions would be completely premature. It would be wrong to signal to the world now that the SNB is the first central bank to envisage a restrictive policy," says SNB President Thomas Jordan.
"SUDDEN INCREASE IN INSOLVENCIES"
FRANKFURT (Dow Jones)- Ecofin ministerial meeting in Lisbon.
EU economy and finance ministers expect a strong economic recovery in Europe given the opening of borders and the resurgence of tourism.
The recovery would have to be based on sustained investment on the basis of national recovery plans so that the EU Commission could raise the planned 750 billion euros in aid money on the capital markets. Economic protection measures should not be withdrawn too early to ensure a full recovery of the economy and to avoid a sudden increase in insolvencies.
Who owns this guy?
https://twitter.com/elonmusk/status/1392950720979030019
https://twitter.com/elonmusk/status/1392947696470659072
https://twitter.com/elonmusk/status/1392602041025843203
>>> Anyone who calls for tax increases is a fool. Or a traitor.
It's a front for Israel. They get the technological know how from the US and turn it over to the Israelis.