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Crypto custody is quite in the rise. A local example in Spain is Prosegur, a company that traditionally had the armoured vans that carry money from banks and the like. That is obviously a business in decline, so they decided to open a branch to deal with crypto custody. If Microstrategy is doing its own custody, that could actually be a future line of business for an otherwise quite irrelevant company.
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Bitcoin is much more about an individual choice of having a decentralised exchange system than about building a countries wealth, however, as a side effect, people from countries that have invested in bitcoin and have been successful may increase the local wealth. Also, new companies that are created in the crypto ecosystem may potentially increase the wealth of a country. Bitcoin, per se, does not.
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Passive income is never really passive. Real states, stocks, bonds, other properties,... everything requires you attention at the end of the day. The most interesting fact is how the different economic classes have a very different distribution of assets. Middle class tend to have their living place as main asset, while wealthy people tend to have stocks and "other", such as art.
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https://fortune.com/2021/09/17/south-korea-crypto-exchange-shut-down-bitcoin-regulation/The regulation coming into place this week places unbearable compliance demands on crypto exchanges up to the point of only three of these being able to fully comply. SK is one of the countries where people have participated in crypto to a much higher degree than in most and this is not good news. Still, some of the exchanges remain open. In 2022, the government will also introduce a crypto capital gains tax; investors who make over $2,135 in trading profit will face a 20% tariff.
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Moreover the government has ramped up the taxes and cut the social benefits also.Who is gonna face all these situations in bad way? The middle class who have trusted the banking system and government but they failed to manage such situations.This is just a step towards devaluation of your fiat and you will be worth zero near future.
I assumed the working classes would see the greatest impact. The middle classes will likely already own a lot of assets/production power that are inflation resistant. Inflation going up, in the case of the ons statistics, only means: 1. More people are spending 2. The cost of living is rising 3. A mixture of the two. It's normally 3 that causes an increase but it seems like it's normal to see something like this after a recession and it has happened before (notably the 70s). I think you are forgetting to add money printing and helicopter money, which, on the current situation are the factors that are making inflation rise, along with many people who have forcibly saved during COVID as their income was mostly protected and they are eager to go out, buy stuff and treat themselves. In Spain, that takes the shape of the "botellones", in UK it means full Pubs and TK Maxx sales. |
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Not much of a fine compared with the profit of moving shorts in media and nothing compared to the effects that this type of behaviour has had on the market actors, who are now afraid to short even the most decrepit and decadent companies with awful results sheets. This is not healthy for the market and I believe the regulator has failed to achieve any deterrent for the future.
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So I am assuming, previously, they are converting their crypto mostly via p2p exchange?
Yeah, I wonder about that too. I'm also wondering what the adoption rate for bitcoin is in Cuba, though I doubt there's any reliable data on that. If this is true and Cuba is planning on "legalizing" bitcoin (I'm not sure that word is appropriate here), I think that's a fantastic thing as long as the Cuban government doesn't require its citizens to register their BTC addresses or anything like that. That would be a surveillance nightmare. Too bad there isn't a Cuban local board on bitcointalk. I suspect there are reasons why one doesn't exist. Lately, I have been thinking that bitcoin is just a tool that governments cannot like if they want to carry out the usual monetary policies. Typically, most governments tend to print money near the elections or under any excuse available. If you adopt bitcoin you would have an economy that, on one side, will have a legal tender that is inflationary and then bitcoin, which for now is deflationary. What would you pay salaries and pensions with? What would you hold as a reserve? I can only imagine the politics around these decissions. |
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Amid decreasing Foreign Direct Investment (FDI) floes, Pakistan's economy is expected to shrnik further, flowing Afghanistan's current situation.
According to Dawn (Pakistan's official news pepar), the consistent decline in flows into Pakistan in recent years should worry the country's economic managers.
The net flows fell by just under 39% year-on-year in July in continuation of the trend witnessed last fiscal when,
Long-term, non-debt-creating investments plummeted by 29% to 1.85 billion dollars from the previous year, the Dawn reported.
Is this right?
I am not sure about Pakistan, I think it is certainly going to be impacted, but Afghanistan has certainly thrown away one of the best chances of modernising the country that it ever had. While US did not have any intention of helping, the fact remains that they were sending plenty of aid that has been mostly lost to corruption. Their economy will now have to do without the huge money pumps from the US. My take is that Pakistan will suffer the side effects as well. |
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I just re-read one of Charlie Munger´s sentences: I think it is undeniably true that the human brain must work in models. The trick is to have your brain work better than the other person’s brain because it understands the most fundamental models – ones that will do most work per unit. – Charlie Munger There is an immense number of what they call "mental models" (I particularly dislike that term, for me they are simply "models"), you can see a few on this page. As is says, it is important to have the right models and, IMHO, the right maps of life and the world. what are the "metal models" to understand bitcoin? |
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I am not surprised for a couple of reasons: The first one is that bitcoin tends to do well in two types of countries, that is, those which are following irresponsible monetary policies or have serious issues with governance and, on the opposite side of the spectrum, those that do very well and have wealthy citizens buying bitcoin.
The second reason is because when you have little, is easy to see it grow massively even with moderate adoption.
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Lehman Brothers went bankrupt with passives of 619B. Evergrande, a Chinese firm with ties to the CCP has admitted an insurmountable debt and has recently hired the same lawyers that prepared Lehman´s case for bankruptcy. 128 banks and 121 societies have claims against the company. The shockwaves may be felt through China and all the Asian region. The direct impact is around 2% of Chinese PIB and may cause more collapses. Evergrande is a Real State / Construction company which works mostly in China and owns its own bank. https://www.theguardian.com/world/2021/sep/14/china-property-giant-evergrande-admits-debt-crisis-as-protesters-besiege-hq |
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...
I guess this is what a Joe Biden economy looks like.
All that money printing has been done to avoid the worse effects of COVID and it has happened in US, Europe, Japan,... so it does not seem related to an specific party. It is true however that JB has approved a quite large stimulus bill for the US economy which appears greater than the financing that the EU has put in place, but you should weight the consequences of not doing so - basically a crisis similar to the great depression of 1929 in which farmers and people in general were left helpless and only ended upon a government initiative. There is a reason for doing this and as a side effect, it is good for us hodlers. |
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Just to make everyone aware of how "easy" is to create a "country" when your only need is to have a favourable jurisdiction for business, I would like to remind everyone of the existance of projects such as this: https://sealandgov.org This is sealand, and you can become a citizen. To be honest, I do not know how serious the owners / promoters are about having actual citizens, but for now you can be a lord or lady at a cheap price, at least to provide moral support to the idea behind it. Jokes apart, with the power of bitcoin behind, this is not a dream at all. |
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I was aware that after all the money printing and giveaways during the COVID was just delaying the payment of the crisis ´till a moment in which the economy could possibly take better care of it. However, it was certain that the true cost of the crisis was not being paid. But here is the bill: Soaring inflation, happily accepted by governments in Europe and mainly in US: 5% YoY in August.
This is bad news for most, however it is good news for bitcoin that benefits from inflation and loose financial policies. Keep hodling!
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“earns meet”
What does that mean? OP, did you translate this from another site, by any chance? I'm not accusing you of anything, but I swear what you've written looks very much like something that would appear in a blog post or article of some sort, and "earns meet" has got to be a bad translation of some other language into English, because those two words together don't mean anything in English. 4. You must have the capital to put in and make yourself known as “Elon Musk did”[/b]
That would rule out like 99.9% of us plebeians who can barely afford much of an investment in bitcoin, much less what Elon Musk could afford to buy--and that's assuming he owns bitcoin, which I'm not sure of after those tweets that crashed the market a couple of months back. The fact is that most members on this forum are very small investors; the whales aren't likely to be posting here (though I suspect there are at least a few old-timers who've got to have a huge stash of BTC). I agree, it is quite difficult to take this seriously, the OP is talking about gaining a reputation to influence the bitcoin market. You have a better chance of winning the lottery and, to be honest, if you need to get to be a rich and known as Musk to influence the bitcoin market, at that point you probably do give a s*ht about such a thing - other than for fun, as I suspect Elon is doing with Doge, just to prove some weird point about his self-proclaimed superiority. |
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If you like to do business economically you can study economics, but there are many successful entrepreneurs who do not go to universities that they are rich from their own experience as well as their bravery so the need to study economics is not necessary.
It isn't necessary, but it helps and the people who are successful in business without going to college are probably outnumbered greatly by those who did (but that's just my thought; I have no data to back it up). My major in college wasn't economics, but I took a few elective courses in economics--Basic Economics, Corporate Finance, and Intro to Econometrics. I enjoyed those classes enormously, especially the corporate finance one which was about stocks, bonds, derivatives and basically investing. Even if you're a computer geek (or pharmacy student), you should at least take one or two elective courses in econ, because they're pretty useful and interesting. Business never really interested me until I started making money, and I probably wouldn't have majored in that or econ, but I'm glad I took the classes I did. If you watch TV at all, you probably watch the news. You constantly see financial reports about jobs numbers and the stock market, and having a bit of education in finance helps you to understand what's being reported. You don't have to be an entrepreneur to benefit from it. For what I know, studying economics at uni means that you will have to go through a lot of nonsensical doctrine to get a bit of true knowledge. However, a college level education in Economics as a side subject can provide people with an understanding on how the world works around them and what can they do to take maximum advantage of whatever circumstances they have in their lives. It will not protect you from government misdeeds but may help you making the best decision to the case. |
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yes good point. The fact is that volumes of traded bitcoin have been increasing and there are many large actors playing with it. It means that for the price of bitcoin to suffer a significant volatility like a few years ago, it would require a much larger volume being exchanged. On top of that, the fact that the price is significantly higher multiplies that effect, as it is not a larger volume that needs to be exchanged, but also a much larger amount of capital is required to do so.
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For me it is not about what is better between real estate and bitcoin because it is about if we are being profitable in the certain investment that we are currently doing, why keep debating on what's better if you can make investment in both bitcoin and real estate? Both of them are one of the best financial instruments in order to achieve financial freedom. I have bitcoins but I doesn't have enough buying power for me to purchase real estate and for me it is really good to have piece of land because its value it keep increasing over the period of time. When it comes to volatility, the bitcoin for sure is more volatile so it is the reason why I first make investment to it than in real estate.
Real state is by far to slow to reach financial freedom in most cases. You need quite a significant seed, maturation times are in the range of several years and a downturn may catch you at any time with too much leverage eating up the profits of many years of hard work and investment. Bitcoin is more easy going, but is also only for people who understand that the ride is not going to be smooth and that there will be lots of volatility which in real state also exists, but is not as evident. |
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I am afraid that you are looking to the wrong kind of analysis. Fundamental analysis is based on organisations that actually make money by means of a value chain. On that sense, the only analysis you can do over bitcoin in a fundamental way would be about the miners and the exchanges.
What I think you mean is macroeconomic analysis? So, you are asking how the current macro context may affect bitcoin and an estimate. I cannot give you a number but during the last year most governments have been printing money like crazy and inflation is already showing it. That´s bullish.
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A forum is never really a forum. It is all about the interests and activities of the community and that happens here in bitcointalk and in many others. If the community is engaged, they will typically organise events, markets, and whatever suits best the interests. In the case of this forum, it is very clear that trading and doing commerce as well as creating new projects and contributing to bitcoin have generate an activity beyond the original intent of sharing ideas.
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