So employers I guess are happy that the government makes inflation 2%, so they can give their employees a 2% raise every year and most will be happy. However employers probably increase their costs by more than 2% to account for increased costs. Hence why people are buying real estate, bitcoin, stocks, etc. Because cash is becoming more and more useless as time goes on.
Yes but...many people in the U.S., even higher paid white collar workers, are no longer even getting a standard 2-3% raise per year. Many many people, family, friends, and colleagues I've talked to told me that standard raises (and bonuses) basically ended around the 2012-2013 time frame. Most have gone 1-3 years without a single raise. When a raise does come, it is usually closer to 2%. Then another 1-3 years go by with nothing. That is why the music stopped in the U.S. in the mid 2010's, because wages started falling WAY WAY behind inflation (which is ~6-8% /year), so people just stopped buying the things they used to buy fairly regularly, like luxury items, new cars, fine clothes & jewelry, lavish trips, etc. |
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Another 6 months of covid restrictions announced by Boris Johnson today. It’s not a full lockdown but bars, pubs, restaurants have a curfew, they must close at 10pm. You’re not allowed to socialise in a group of more than 6. No fans allowed into sporting events (stadiums) until March at the earliest.
I’m sick of this crap now, isolate the old & vulnerable & let the rest of us get on with our lives.
Covid has a ridiculously low mortality rate, feeling annoyed.
I hope bitcoin’s potentially epic bull run next year doesn't get stunted because of a bad type of flu.
Do you guys think all of this covid back drop will be bullish or bearish for bitcoin in the short to medium term?
Thanks in advance!
Regards
Very annoyed OG HODLER.
"What we have seen from the evidence is that alas the spread of the disease does tend to happen later at night after more alcohol has been consumed."  |
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About the only thing that Normies and NPC's like to fomo into is toilet paper and the latest Travis Scott meal at McDonalds.
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OT: Trevor Milton out at Nikola
On September 10, Nikola got hammered by detailed allegations of short-seller Hindenburg Research that the company was “an intricate fraud built on dozens of lies over the course of its Founder and Executive Chairman Trevor Milton’s career.”
In explaining its short position on the stock, Hindenburg Research summarized: “We have never seen this level of deception at a public company, especially of this size.”
Elizabeth Holmes: "Am I a joke to you??" (not public, but you get the reference)
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Also important is to pass the "live together" test. It's all nice and sweet when you only meet to go out and have fun. Only when you live under the same roof will you know if you can really be together.
This x 1 billion!! Gee, wonder why ol' Warren Buffett dropped all of his bank stocks earlier this year? He couldn't have been tipped off, right? /s  |
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Something to ponder tho...
What is the difference between ?
1. A banking system that issues IOUs backed by Gold/Silver.
2. A future with "bitcoin banks" that issue private digital currencies backed by Bitcoin.
A: Nothing, nada, zilch. First it's backed 1:1 to build and insure public confidence and trust. Then it gets fractionally reserved. And finally they go off the "Bitcoin standard" (i.e., The "Gold standard" of the future) and back their private digital shitcoins with literally nothing, while they inflate them to infinity. Repeating history all over again.
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True asset inflation is already running at ~6-8%/year.
The Fed is full of shit. How they measure yearly inflation is a lie.
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TBH, I'm not sure why the Bitcoin community is high-fiving each other over this revelation. I mean sure, it's exciting that a corporation has figured out how to take a large long position in BTC without rocking the boat. I'm sure that other corporations will begin to follow suit in the coming 3-6 months or within the year. The more institutional corporate hodlers, the better. This is overall good news. But look, if the straight-laced corps with good intentions have figured out how do this, then so can the nefarious Wall Street whale traders as well as other country's seedy deep pocket whale traders (China, Russia, Germany, England, etc). These guys have hundreds of millions $$$, if not billions $$$, at their disposal too. And the difference is that they don't have to make any public announcements, or get their respective legal teams and corp shareholders involved to fight through a bunch of red tape and months of wrangling before they do it. They can and will take up such positions covertly. These types will be the first to dump all their btc at the top of the next bubble, for sure. This is not so great news. |
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Fast forward to 22:30 if you want to hear his explanation of why he tweeted against Bitcoin in 2013 vs. now. Basically he says "I really don't remember tweeting it then. Yes, I'm an idiot."  I also stand corrected, he mentions building up $600M cash reserve on the balance sheet over the years. Wow. That's being super frugal as a small company.  @45:30 he discusses finally "getting Bitcoin". So his company has all this cash in the bank, and he starts seeing inflation and zero interest rates eating it away (7-8% per year). That was his impetus for swapping the cash balance for Bitcoin. Interesting. Smart. |
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Most people think a government ban is the biggest risk to bitcoin. But with MicroStrategy now having a third of it's market cap in bitcoin, do you really think governments will tank stock markets? Risk of ban will get smaller and smaller when more listed companies follow MSTR. https://twitter.com/100trillionusd/status/1306119800255639559?s=21From what I've read, isn't the Ukraine pretty big into Bitcoin? Including many members of the govt there? And I'm sure there are other countries/govts equally as heavy into Bitcoin, if not more so. So banning risk continuing to fall to zero (if we aren't there already). I mean, there's a Bitcoin futures market ffs. Hell govts don't need to ban it, when they have the MSM constantly slamming it to keep people away. |
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You know why an IT company like Snowflake (SNOW) can IPO with a stock price ~$250/share, instead of something like $1/share or even $0.01/share?
#itscalledamassivepreminemotherfkers
#theyalldoit
#thestockmarketisafraud
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You would think an MIT grad and subsequent computer simulations modeler would've understood Bitcoin back in 2013.
I'm no MIT grad and I got it almost immediately back then.
Hell within a few days of research, I completely understood how groundbreaking a breakthrough it was, and how it would fundamentally change the financial world.
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My only question is why did they wait this long? Why weren't they buying this amount of bitcoin at a fraction of today's price back in 2013? Surely they knew about it then, they are an IT company. Yeah, my thoughts exactly. At one time you could have those coins for the price of 8 pizzas, and have a piece left for next morning... Better late than never, though. Also applies to many of us, unfortunately. I'm also struggling to understand how a company that only has 2400 employees and has an average yearly revenue (not net, revenue) of ~$486M can go and buy $425M of bitcoin. Having that much free cash reserve to do that does *not* add up for such a small company. Also, their stock price hasn't budged since the meltdown of 2000. |
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My only question is why did they wait this long? Why weren't they buying this amount of bitcoin at a fraction of today's price back in 2013? Surely they knew about it then, they are an IT company. |
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