The current failure to capture & subsequently hodl $25,000 doesn’t fill me with confidence that the bottom is in. I would advise you all to have dry powder loaded on exchanges for potential lower lows. I’ve seen this movie too many times before.
Honeybadger will wake up & start going on a tear but maybe not for a year or more.
It seems the majority thinks the worst is yet to come... (I hope they are wrong as usual..)Me too, I mean if as expected there is a global recession or even great depression confirmed, we can hope bitcoin acts as a life raft for people & a safe haven. Thing is when bad shit goes down, like when COVID was first confirmed as a global pandemic the arse fell out of bitcoin (not complaining, I bought a decent amount there, profiting on peoples misery). Im 50% convinced the bottom is in, in other words I have no clue. We are going to $150,000+ in the next bull cycle (after the halving). I’m just not convinced another black swan won’t send us tumbling to new lows before that. It's actually very simple. The bitcoin market price is not going anywhere until a) the Fed stops with the rate hikes, and reverses course. and b) China's economy stops imploding and finds a bottom. Until those two situations change, it's more sideways action. |
|
|
|
 OT: So if the CBO's own projections in this chart hold true, we will see: 1. The Fed start dropping rates next year and many years to follow so that global corporations can start buying back their stonks in droves. Markets to the moon (and bitcoin). 2. Another global catastrophic black swan event sometime between 2030-2032, facilitating the Fed to drop rates to zero and massive money printer go brrr.... again. 3. Massive global inflation to follow....again. 4. Side note: The Fed plans to add another $15T to U.S. debt over the next 10 years (50% of the total current debt), and that's even BEFORE a black swan event occurs. Let that sink in. |
|
|
|
this report..its likely not great...but everyone knows this and I think it mostly priced in
I will have to dissagree with that, if the report is anywhere under 9.1% (which is very probable) then that's good news and the market will recover after. +2 WOsMerits you were correct....coming in at 8.5% surprised quite a few..myself included i still think planning on and accepting a 9% loss on your wealth every year is unattainable bitcoin fixes this Yep, just a lowly 8.5% inflation. Such progress! The world economies are saved! /s   |
|
|
|
Inflation figures get released and BTC reacts right away once again
Yeah but, more confirmation that Bitcoin is now tied to the stock market melt-up. A bit sobering if you ask me. |
|
|
|
I liked this infographic up until the "deflationary" part. Bitcoin is not deflationary and never will be, that's how it's programmed, ignoring loss of coins that only affects it's circulating supply, not the maximum, also ignoring some op code failures. I digress. I much prefer the term "mathematically regulated inflation" or "reducing inflation". Just because the rate of inflation for Bitcoin decreases every 4 years, it still doesn't make it deflationary.
I feel like this is a common misconception or misunderstanding of Bitcoin, conflating the rate of inflation with inflation itself. Inflation rates decreasing every 4 years also doesn't make an asset deflationary, it simply means the inflation rate is decreasing, this is self-explanatory. Bitcoin is (currently) an inflationary asset, regulated by mathematics, and the sooner everyone get's their head around this concept the better imo. Rant over.
A valid argument. Although I think it depends entirely on one's definition of a deflationary currency. If you define a deflationary currency as "the rate at which that currency is minted/printed is slower than the rate at which that currency is lost or hoarded by investors", then I think Bitcoin fits that bill. (At least now, perhaps not in the beginning when it first launched) Although we will never be able to measure that accurately because fractional reserve bitcoin exists now. |
|
|
|
I love how the MSM is talking about the latest U.S. job growth report as a bad thing. "We need job losses, not job gains, dammit!" |
|
|
|
BlackRock hops on bitcoin bandwagon with new Coinbase tie-up.After years of resisting, the world’s largest asset manager has finally taken the plunge into crypto in a substantial way. BlackRock, which oversees $10 trillion in assets, is partnering with publicly traded Coinbase to provide its institutional clients with access to cryptocurrency.
Bitcoin is the first digital asset being offered through the partnership, according to a blog post Coinbase, the most popular crypto exchange in the U.S., released on the matter today. BlackRock’s Aladdin investment management platform will offer connectivity to Coinbase Prime to offer crypto trading, custody, prime brokerage and reporting capabilities to shared clients.
“Common clients of Aladdin and Coinbase will be able to manage their bitcoin exposures alongside their public and private investments for a whole-portfolio view of risk,” BlackRock wrote in an announcement. Holy goodness. That either means we are the new rich elite, or that we are totally fucked. I am leaning towards fucked, but... (or should it read "but, fucked?") At the behest of the Fed, Larry Fink and BlackRock have bailed out the entire world....twice now. BlackRock buys MBS, zombie corp bonds, and other toxic non-performing assets from the Fed, and the Fed in turn buys BlackRock ETFs and pumps their stock. And Larry Fink has a hard on for ESG. All of BlackRock's slave clients have to adhere to bullshit ESG policies in order to get loans. It's the #1 reason why "wokeness" has permeated every facet of our society now. This deal stinks. I smell a bait and switch coming in the future.You mean they will suddenly "find out" that BTC causes gLObAL wARmiNg and crash the market using MSM propaganda? Most likely. And switch the narrative over to promoting "more sustainable, ESG-based crypto coins". The thing about future market rug pulls, is that the establishment always set them up way in advance before the next bull run. They always need a plausible "reason" at the ready to crash the market. |
|
|
|
BlackRock hops on bitcoin bandwagon with new Coinbase tie-up.After years of resisting, the world’s largest asset manager has finally taken the plunge into crypto in a substantial way. BlackRock, which oversees $10 trillion in assets, is partnering with publicly traded Coinbase to provide its institutional clients with access to cryptocurrency.
Bitcoin is the first digital asset being offered through the partnership, according to a blog post Coinbase, the most popular crypto exchange in the U.S., released on the matter today. BlackRock’s Aladdin investment management platform will offer connectivity to Coinbase Prime to offer crypto trading, custody, prime brokerage and reporting capabilities to shared clients.
“Common clients of Aladdin and Coinbase will be able to manage their bitcoin exposures alongside their public and private investments for a whole-portfolio view of risk,” BlackRock wrote in an announcement. Holy goodness. That either means we are the new rich elite, or that we are totally fucked. I am leaning towards fucked, but... (or should it read "but, fucked?") At the behest of the Fed, Larry Fink and BlackRock have bailed out the entire world....twice now. BlackRock buys MBS, zombie corp bonds, and other toxic non-performing assets from the Fed, and the Fed in turn buys BlackRock ETFs and pumps their stock. And Larry Fink has a hard on for ESG. All of BlackRock's slave clients have to adhere to bullshit ESG policies in order to get loans. It's the #1 reason why "wokeness" has permeated every facet of our society now. This deal stinks. I smell a bait and switch coming in the future. |
|
|
|
I was watching ZuTV and this Charlie Puth video came on in which he buys $100 worth of bitcoin and gets a thumbs up from the trainer. The only reason I watched it long enough to see it was that I was trying to figure out if the "trainer" was Billy Banks from the Tae Bo craze. (it is and he's still in pretty good shape - I'm thinking about taking up Tae Bo now)
Yes that is Billy Blanks of Tae Bo workout fame. |
|
|
|
OT: New York becoming first U.S. state declaring Monkeypox outbreak a 'State Disaster Emergency'? Now wanting to get all New Yorkers vaccinated for it? shocked_pikachu_face.jpg /s I'm sure the new monkeypox vaccines will be SaFu AnD EffEctIve !  |
|
|
|
 A great Watch. Agreed. The 'Reacher' series is pretty good too. Nice to see some high quality stuff out there that has testosterone again and not saddled with political agenda. |
|
|
|
Bitcoin can't be for everyone, it's either some are hodling or some are selling at any giving price. If everyone decides to hodl and sell when the price is high, its impossible. Bitcoin is made particularly for the strong people. 💪
Nah it’s for everyone, you forgot that people can also use it. It’s 1 million times better than other currencies, so it will simply become a dominant currency over time, where people also use it. Bitcoin is the valuable thing, not fiat. Some people just realised it earlier than others, that’s why they’re profiting. But people can still use Bitcoin later on when they missed out on the opportunity, as it will still be a much better currency and thus benefits them. No inflation, Self-custody, censorship resistance, no middleman medium of exchange etc. It doesn’t matter if someone in 100 years made money from it or not, as there is no better alternative form of money and thus it benefits everyone. So it really is for everyone. We just have the opportunity now to get sats for cheap, because people are still unaware. someone with a strong grip will be the winner. and bitcoin for those who hold strong. actually people are now starting to be aware of bitcoin. Yet many are still afraid to get started and enter. because the anti-bitcoin media is constantly making news that shakes the beginners who want to enter. only people who really study bitcoin will survive. whereas those who just follow the hype without going deep into it will only become paper hands and they will feel sorry later on. 5 or 8 years later they will say "if I used to hold bitcoin firmly until now". but their regrets will only be like foam in the ocean (meaningless). Three bots all quoting each other and replying. Hilarious. |
|
|
|
Are they still flogging that dead horse? I had it for the second time a couple of weeks back. Unvaxxed, fully recovered, was much less severe than the first time. #purebloodunvaccinated Look below the surface. Lockdowns in China have zero to do with controlling Covid, and everything to do with controlling supply and local supply chains. It's called rationing. Shenzhen police last week said they arrested 82 people, 19 of whom were drivers delivering supplies between Shenzhen and Hong Kong, for smuggling goods |
|
|
|
^ Cap from the wh.gov itself, I kek'd Truly living in denial.  Can't wait to see their bullshit spin job when we get ever more negative GDP in third and fourth quarters. I can hear it now: "Negative GDP not really a good indicator of recessions, says White House officials." I will say though, that people are going to be shocked when markets take off higher come Jan 2023. It will defy all logic and reason, just like 2020 did. I really don't understand why things are very costly. Because these the same things were sold very low price from the industries. Why the industries increase their prices when they are the manufacturers?
You just answered your own question. We don't have free market capitalism and thus competition anymore. When you own the monopoly on goods production and distribution, you can set prices wherever you want. You can lower production. You can choke distribution. You can create demand destruction. |
|
|
|
 Nice moobs. The ironic thing is that you can tell he's had lipo and other plastic surgery. Otherwise his muffin top would be there, making him look even worse. Did nothing for him in the looks department, tho. Maybe he should consider butt implants. Will likely die of skin cancer and/or heart disease. |
|
|
|
It's Not Just China Homebuyers. Now Property Suppliers Are Boycotting Loans.Some suppliers to Chinese real estate developers are refusing to repay bank loans because of unpaid bills owed to them, a sign that the loan boycott that started with homebuyers is starting to spread.
Hundreds of contractors to the property industry complained that they can no longer afford to pay their own bills because developers including China Evergrande Group still owe them money, Caixin reported, citing a statement it received from a supplier Tuesday.
One group of small businesses and suppliers circulated a letter online saying they will stop repaying debts after Evergrande’s cash crisis left them out of pocket.
“We decided to stop paying all loans and arrears, and advise our peers to decline any requests to be paid on credit or commercial bill,” the group said in the letter dated July 15, which was sent to the developer’s Hubei office. “Evergrande should be held responsible for any consequence that follows because of the chain reaction of the supply-chain crisis.” Something something Biggest Financial Ponzi in History, something something House of Cards, something Dominos falling, something something Risk of contagion.... |
|
|
|
US President Joe Biden tests positive for COVID-19fu
President Joe Biden has tested positive for COVID-19 and is experiencing "mild symptoms," White House press secretary Karine Jean-Pierre said on Thursday. Biden, who is fully vaccinated and twice boosted, has started taking Paxlovid, Pfizer’s antiviral drug used to minimize the severity of COVID-19. This is the first time the 79-year-old president has tested positive, according to CNN. https://twitter.com/i/events/1550126344519819264 A couple more boosters should do the trick. |
|
|
|
|
Show Posts
