There's no such thing as fate; things happen the way they happen, but not because they were predetermined. Further, predeterminism is a dangerous way to look at bitcoin that tells folks they don't need to think critically or pay attention to the environment. Bitcoin isn't fated to replace the dollar, it isn't fated to go to the moon. Blindly believing such things is a recipe for financial disaster because it ignores the risk component of holding bitcoin.
You don't think there a number of events that are not necessarily predetermined, but inevitable? [holy snip, batman] You seem to misunderstand that fate and inevitability are not the same thing. Your death is inevitable; that doesn't make it predetermined. Your death is not fated because "fate" is a human construct that doesn't exist in the natural world. |
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Bitcoin hasn't outperformed the best tech stocks, so the speculation has been driving up all speculative investments at the same rate. There's no real "increase" in demand for bitcoin relative to other types of speculative investments. I'll be interested to see what happens in the next large scale market pullback, because my prediction is bitcoin will crash in about the same proportion as speculative tech stocks.
There seems to be an oversupply of funds and probably that is the reason why many of these assets are getting overpriced. But unlike the case with equities and real estate, I would say that cryptocurrency is still underpriced at these levels. Bitcoin is having 100 million to 200 million active users, and ideally it should translate to a much higher market cap compared to the current $1.1 trillion figure. I agree that it's the availability of cash pushing all speculative asset prices up. I disagree bitcoin isn't in the same boat as all the other speculative assets. At the end of the day, bitcoin is a speculative asset. It doesn't produce cashflow, it's not a business, it doesn't have valuation metrics. The only thing driving the price is a collective expectation that the price will rise. That's speculation in a nutshell. There is literally nothing else driving the price. If the collective expectation falters, this proves to be a bubble and it pops. Because this is an arbitrary distinction, it's a dangerous investment to put significant wealth into and expect guaranteed safety. |
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Those numbers are always talking about as household income, if you thought otherwise that's on you for not understanding since that's the common way taxes are always talked about. Biden always said households making more than $400,000.
For someone who earns $400,000 per year, the applicable state income tax in California comes to 11.3%. With the latest increase in federal income tax, California residents will be paying more than 50% of their income as tax and the net take away will be less than $200,000. And for cities such as Los Angeles and San Francisco, given the high cost of living, the tax increase will have a large negative impact on the quality of life. After WWII, the top marginal tax rate was 90% in the US and it was still in the 70% range by the 1960s. Nobody making $400,000 a year is hurting terribly because of taxes, and their wealth is only possible in the first place thanks to the economy built by the US-style of government. One thing remains undeniable- as long as the US runs a deficit, nobody is paying enough in taxes. US us running a deficit because of the incompetence of the government. So giving this excuse, you want to go back to the 1960s and impose a 70% tax on everyone? If the budget deficit is there, then the solution is to reduce government expenses and not to increase the tax rates further when they are already in the 50%-60% range (I am talking about states such as California). Anyway I am not an American and I don't really care how much they raise the taxes. If the taxes are raised to 70%, then they very much deserve it because they voted someone in to power who said before elections that he is going to raise taxes. Do you know what a top marginal tax rate is? Because a top marginal tax rate of 70% does not mean "everyone pays 70% taxes." Your response seems to ignore how progressive tax structures work in that as tax brackets increase they affect fewer and fewer people and it ignores the fact that not all income is taxed at 70% for people who fall into that bracket. Someone who falls into the 70% tax bracket wouldn't have their first tens of millions taxed at 70%, only income past a certain threshold. And yes, I believe the top .1% (or possibly more) should be paying 70% income tax. |
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Is bitcoin for speculation only? or it is really useful in our daily life? just curious.. What product can we buy by using bitcoin only... how many Merchant accepting bitcoin? is it a huge number? what do you think?
There are many stores in the world that accept Bitcoin, France, Italy, Spain and there are many stores that you can buy with Bitcoin, although Bitcoin is now quite famous as a speculative action, it has a lot of weight for investors worldwide, such as Elon Musk, Paypal, Microestrategy, among others. In countries with rampant inflation it is much better than gold, some gold investors have passed everything to BItcoin, the son of the controversial Peter Schiff has already done so, there are some statements from the president of the FED that it is likely that gold can be substituted for Bitcoin due to its high speculative power, but not as a safe haven due to its high volatility and lack of support. When observing all these eventualities and taking into account that we are still in a pandemic and even so, Bitcoin has had new ATHs, it is only a matter of time before they begin to implement the payment of goods and services through Bitcoin on a world level, adoption is a fact. Having places to spend it is only half the issue with it being a mainstream currency. The other half is people willing to spend it as a currency and not treat it like a store of value, which is all the posts are concerned with anymore. Bitcoin is never going to be a currency if it's treated like a store of value. |
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In my country, it's like normal. Even though the Covid 19 virus is still there, and cases of people infected with this virus are still there, but in our country, there is no lockdown. But we are still required to adhere to health protocols such as using masks, carrying a hand sanitizer, and washing hands first before entering the office area and shop. People in our country are too bored at home all day. Even many have not believed anymore with the Coronavirus.
That is the most dangerous part, there are people who do not believe that it exists and that is very dangerous. If you know nobody in your surrounding that had a bad case of corona virus or even died from it, you are not going to care about it at all, there are so many people keep saying "it is just overpowered flu" and they do not realize how much more overpowered it is. I have seen a friend of mine, quite young fella as well he is 29 years old and he is a professional athlete and he was so bad that he couldn't sleep properly for 4 days straight from just the coughing part, I am not even getting into how tiresome it becomes and how he had fever and how powerless he felt and do not get me started about breathing. I always believed in corona and I always took care of myself but after seeing that I realized maybe I should not even leave the house because that looked horrible. Anyone who sees something like that will double their precautions for sure. Its part of our common sense that we should really stay away into someone whom we do see that they do have those symptoms.Just let those people who dont believe that corona virus is real and still being too hard headed until they do make out regrets when they get infected.Now that the situations become worst then i dont believe that people would just ignore this thing specially now that numbers are fastly increasing as the day goes by.. If people wouldnt mind off these warnings then we would see some second wave of lock downs. One problem is that it spreads asymptomatically, so you can't just avoid anyone who "has it" because you don't always know who has it. And another problem on top of that is that it's the people who don't believe Covid is a problem who are continuing the spread in the population, so you can't just say "let the people who are stupid go get infected then." The problem is that they're then spreading the virus to others and the longer it's swirling around, the more it mutates. The great fear is it will mutate in a way that we can't protect ourselves with a vaccine and then we'll be in much deeper trouble. |
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It is said that Bitcoin is the precursor of the "One World Currency" that will be used in a "One World Government". In the past, it has been predicted that a "One World Currency" would come into fruition as the current monetary system collapses in its entirety. It is today where we have Bitcoin, a Peer-to-Peer digital cash system that's decentralized, used globally by many people worldwide. Essentially, Bitcoin is a "One World Currency" although not backed by any government or trusted entity of any kind. What do you think? Is Bitcoin the "One World Currency"? Or will another currency take its place in the future? If that happens, which currency do you think will become the "One World Currency"? Will it be the US Dollar, the Euro, or the Chinese Yuan? Do you think governments will unanimously agree to use a single currency for everything? Your input will be greatly appreciated. Thanks  There won't be a "one world government" and therefore there won't be a "one world currency." No government is going to surrender its fiscal sovereignty to any foreign currency, bitcoin or otherwise. As for bitcoin becoming a one world currency on its own, it's not going to happen because Bitcoin isn't even used as a currency. Store of value is about the only use-case at this point and even that has to be proven out longterm. |
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Russia now requires all smart devices — including phones, computers, and TVs — in the country to have Russian software preinstalled, in what some locals have called a "law against Apple".
The law applies to all devices produced in the country from Thursday onwards. Reuters reported that Russia viewed it as a way to help Russian software companies compete with international ones.
The outlet added that the law had been an issue for Apple and that it had become known as "the law against Apple." source....I don't know whether this is good or bad for selling smartphones or software in Russia, This is the sales of smartphones in Russia according to statista....what is certain, that smartphone provider must adjust to this rule. do you think this is a good step to increase Russia's competitiveness against foreign countries that we know are the US? or this is a bad move that will slow down Russia's competitiveness! It's obviously bad for consumers. If Russian software was any good and desired by consumers, they wouldn't need the government to force it onto devices in the country. Russia is an authoritarian country like China, and it's not surprising to see them attempting to prop up their uncompetitive businesses artificially through strongarm tactics like this. |
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It will definitely stop, reduce or not have any effect on human beings just like any other virus that existed. For example HIV and others were also deadly but with vaccination and drugs for them, they became the new normal like covid-19 is. The vaccine for covid-19 will be improved on as the future come.
I think you may be living around the Europe or other continent that is not Africa because in Africa and Nigeria, there are no emergence for now and no lockdown. The government is just managing existing cases and few newly contacted, and they are vaccinating the people. In Nigeria, the number of deaths from covid-19 is very little compared to number of identified cases.
The difference is HIV is sexually transmitted and therefore fairly hard to contract. Covid-19 is an airborne virus and easy to transmit from person to person. Covid is likely to be like influenza, perpetually in the population now that it's made the jump to humans. It is not likely to be defeated, it mutates too quickly and spreads too easily to be eradicated like smallpox and polio were. |
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For me gold was already supplanted by bitcoin or crypto currency interms of price and being strong, because the value of bitcoin greater than the value of gold now, maybe because crypto currency is more convenient to use and buy because of the situation tht we're encountered.
- Because economics was lost heavily during the pandemic, large profitable investments like bitcoin have been drastically increased due to overall demand but even with such a strong user contribution, the substitution of investment objects such as gold and oil has not occurred, do you see people using bitcoin as fuel for cars or have you seen bitcoin be treated as jewelry and sold publicly in stores. Absolutely not seeing such stories happen, Bitcoin leads the way only due to good conditions and trends, in the long run, the stability is probably not equal. Bitcoin hasn't outperformed the best tech stocks, so the speculation has been driving up all speculative investments at the same rate. There's no real "increase" in demand for bitcoin relative to other types of speculative investments. I'll be interested to see what happens in the next large scale market pullback, because my prediction is bitcoin will crash in about the same proportion as speculative tech stocks. |
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that is, I don't know if i understood correctly to collect a tweet by charles-hoskinson transformed into nft for what purpose? does it have or will it ever have any economic value? will anyone ever pay $ 3000 for it?
As you’ve read on OP, the highest bid is $3000 so technically, someone wants to spend money on that simple tweet and store it for long until it values more that what he spend for. There might be no economic value at all, but NFT is growing over the past months and we’ve seen crazy deals before, I don’t know much with NFT but the hype is really bullish right now. I just can’t afford good NFTs right now but its good to see that someone is willing to spend on NFT and that makes this market grow, if many celebrities will create their own NFT, we can expect more crazy deals coming into this market, I’m waiting for Facebook founder Zuckerberg to sell his first post.  more then likely, we will see more of this in the coming months or years. the NFT business is just starting and some people are already realising that their tweet (like Jack Dorsey selling it for $2.9M) or digital art (like the NFT item for “Everydays: The First 5000 Days” sold for staggering $69.3 million). and with these examples, some people like celebrities or sports icons are now potential creators of these NFTs. but i dont see any assurance if for example this charles tweet valued at $3k will still be valuable in the future. no one knows its future value, the buyer just hold to the idea that it will be valuable in the future just like purchasing physical paintings The NFT craze will eventually die down. The idea of "owning" a digital, infinitely replicable piece of media will soon no longer be novel, and then people will be left with whether these things actually have value after all the speculators are gone. |
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It's such a huge claim. Sometimes I cringe on certain claims made by Bitcoin fans. I don't necessarily disagree with them, but sometimes they just seem to portray Bitcoin as something heaven-sent, capable of addressing the most fundamental issues of humanity.
Many a time have I heard of claims such as Bitcoin could highly boost a country's economy, Bitcoin could address poverty, Bitcoin could address unequal distribution of wealth, and so forth. There may be a certain amount of truth in each or even all of them but to generalize or label Bitcoin as such could actually be misleading or simply an exaggeration.
At the end of the day, Bitcoin is simply a tool, a generally neutral tool which could protect a certain human right such as the right to privacy, for example, as much as it could also be a tool used by a criminal to get away from being lawfully prosecuted and brought to justice.
Bitcoin maximalists are the definition of cringe. Did you know bitcoin was invented to save mankind from political oppression, censorship, poverty, and dozens of other threats? At least, that's what they'd have you believe even though literally none of that is true. The retcon of bitcoin's origin story is too much. |
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With Tesla's bitcoin purchase I believe they incentivized investors around to also buy bitcoins. Naturally, potential Tesla's investors, those who are sympathetic to their ideas might have followed this incentive, putting their funds in bitcoin and letting the company's stocks aside a little bit. But this fall in stocks price is temporary. Tesla is a great innovative company and will recover soon.
There's no guarantee an over-pried stock like Tesla will recover from the mania-induced highs. Tesla is worth more than Ford, Honda, BMW, GM, Daimler, Volkswagen, and Toyota combined and yet produced a tiny, tiny fraction of the cars. Tesla's revenues was about 30 billion last year while the revenue of the other 7 car makers was 1.1 trillion. There's absolutely no way Tesla is worth this price, or will ever grow into this valuation. It's still priced like it will be the only EV producer forever. |
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Those numbers are always talking about as household income, if you thought otherwise that's on you for not understanding since that's the common way taxes are always talked about. Biden always said households making more than $400,000.
For someone who earns $400,000 per year, the applicable state income tax in California comes to 11.3%. With the latest increase in federal income tax, California residents will be paying more than 50% of their income as tax and the net take away will be less than $200,000. And for cities such as Los Angeles and San Francisco, given the high cost of living, the tax increase will have a large negative impact on the quality of life. After WWII, the top marginal tax rate was 90% in the US and it was still in the 70% range by the 1960s. Nobody making $400,000 a year is hurting terribly because of taxes, and their wealth is only possible in the first place thanks to the economy built by the US-style of government. One thing remains undeniable- as long as the US runs a deficit, nobody is paying enough in taxes. |
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Aren't you forgetting about the British Pound? It lost a lot of value over the year but I don't think it ever went to 0.
Even if we changed it to 99% of fiat money crashes every 300 years, does it mean we have to wait for it to happen? The Lira is dying as we speak but it won't make people lose everything if they get rid of it and invest.
Well done, the Pound has indeed been around for hundreds of years and never gone to zero. OP also ignores all the currencies in use currently that have not gone to zero. The USD has been around for over 220 years as well and depreciates slowly and intentionally and it's worked well for a long time. |
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Given the fact that not all coins are created equal, some things must be done to level out the playing field. Hence the idea of using crypto currency/coins as more or less stocks of that business entity, project, etc etc.. Any thoughts or ideas on this would be certainly appreciated. Thanks again.
This is what already happens. Coins trade freely based on utility and speculation of future worth. Those with high utility or high expected demand rise in price, and the worthless coins stay worthless. |
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Reminder only the ultra rich can get into many mega IPO, remember aramco? Only the rich can get the IPO price, once the stock is initially traded on public exchange, the stupid idiot sovereign fund would buy up all the shares bought up by the ultra rich at mark up price and make a killing from the foul play, and all these are perfectly legal, your 401k is criminally exploited to enrich the ultra rich to even richer, the ass*** ultra rich wouldn’t care.
Now we need to come up with a plan, by using ICO, IDO, IEO to force the tax payer pay the price too, what’s your take, can we force the inflation to come totally loose control to the point food price is no longer measurable with fiat paper money?
You very clearly don’t understand how IPOs work. Institutional investors (meaning your 401k manager) are often targeted to buy the IPO before its publicly traded, or even earlier when the companies raise money when they’re still private. So they are directly benefited by the IPO process. Further, the sovereign wreath fund is an institutional investor, it would not “buy up all the shares” after the IPO, that makes zero sense. That would defeat the purpose of the IPO because that would effectively make the company privately held by the sovereign wealth fund. |
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How do you explain NFT to a 5 year old?
“Remember when you offered me $1000 for my cookie? It’s because you don’t understand what value is. NFT is like that.”
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This is probably the best news on the internet today, the internet magic money is getting all the adoption it deserves. UK Argo will Partner with DMG Blockchain solutions to set up the Terra Pool that will be powered by clean energy. The phrase " Bitcoin mining is bad for the environment is gradually coming to an end".
Argo partners with DMG Blockchain Solutions to launch
the first clean energy Bitcoin mining pool
Argo, a global leader in cryptocurrency mining (LSE: ARB), is pleased to announce it has signed a Memorandum of Understanding ('MoU') with DMG Blockchain Solutions ('DMG'), a blockchain and cryptocurrency technology company, to launch the first Bitcoin mining pool powered exclusively by clean energy.
Under the terms of the MoU, Argo and DMG will jointly launch Terra Pool, a Bitcoin mining pool powered by clean energy. This pool will initially consist of both Argo's and DMG's hashrate which is mostly generated by hydroelectric resources.
Terra Pool represents the first ever opportunity for the creation of 'green bitcoin'. The initiative aims to expedite the shift from conventional power to clean energy and reduce the impact of Bitcoin mining on the environment. The mining pool will provide a platform for cryptocurrency miners to produce Bitcoin and other cryptocurrencies in a sustainable way.
Peter Wall, Chief Executive of Argo Blockchain, said: "Addressing climate change is a priority for Argo and partnering with DMG to create the first 'green' Bitcoin mining pool is an important step towards protecting our planet now and for generations to come. We are hopeful other companies within the Bitcoin mining industry follow in our footsteps to demonstrate broader climate consciousness."
Dan Reitzik, Chief Executive of DMG, said: "DMG's increased innovative strength and continued focus on eco-friendly Bitcoin mining has the opportunity to drive transformations in how the Bitcoin mining community acts towards a climate-conscious future. DMG's ongoing commitment to clean energy-based capital deployment is a key industry development. We believe this is an opportunity for continued growth as we develop a better understanding of climate-friendly operations while simultaneously integrating the newest and most innovative blockchain technologies."
This is missing the point. The argument is BTC mining is bad for the environment because of how inefficient it is on a per transaction basis. Even if bitcoin was entirely powered by renewable resources, the opportunity cost of using our renewable energy on something so inefficient would mean the clean energy is not being used for something more useful and diverting it to bitcoin increases the non-renewable energy generation needed elsewhere. This does nothing to alleviate the “bad for the environment” concerns. |
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If the US dolllar is strengthening, its off of heavy buy volume on FOREX exchanges. Fiat currencies like the US dollar, yen and yuan are bought and sold on exchanges which can elevate or depress their value. They are very similar to cryptocurrencies in that way. The federal reserve could place large buy orders for the US dollar under their longtime QE (quantitative easing) program to quell fears associated with the dollar devaluing. That is one possible scenario for the charts OP posted. The fed has already amassed massive quantities of US bonds and other assets, it wouldn't be farfetched for them to buy the US dollar as well.
Stimulus spending and printing ever larger mountains of fiat to give people free money haven't often strengthened any currency through history. The end result of that policy is more likely to resemble the zimbabwe dollar or venezuelan bolivar at their weakest, than they are the US dollar at its strongest.
How could the the Fed place large buy orders for the US dollar under a QE program? Since QE is creating more dollars, what would the Fed buy dollars with, different dollars? This doesn’t make sense. |
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Does it really worth it to spend so much on an online art? Don't get me wrong, I do love some unique art and mostly love the idea of having them on blockchain but the way the price of the NFT's are being inflated is a bit surprising to me, I guess choice of what is valuable is quite different.
How is it any different than bitcoin? I don’t see a difference between the price of bitcoin and the price of NFTs. They both seem high and speculative. |
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