Right now BTC/Crypto seems to be acting like a 'fast cash' ATM machine to fill up your emergency fund due to the CoronaVirus. With the drop today (Sunday 2/8/20) I suspect that at least for now, BTC/Crypto is acting as a precursor to what the Stock Market is going to do on Monday and this week. I'd be preparing for an 'epic' dump there again. But again, what are you gonna dump first in a crisis? Stocks? Have to deal with broker, who will try to talk you out of it. Gold? If in a developing country have to dig that out from under the house. Bitcoin..easy peasy to dump that to get the old emergency fund filled up due to this black swan event coronavirus pandemic. Real-World-Issues-Suck for Everything now. Stocks/BTC/Crypto/Bonds/everything has frigging tanked and will probably continue to do so in waves as people see that this is THE FRIGGING FLU and likely MOST of us will get it. But it will not be all at once and likely will take 1.5 to 2 weeks to recover from to go back to work. This could stretch out well into June/July! Then, IMHO, when such has passed and the recovery is supposed to happen, the other mismanagement of assets by the powers that be and in the USA the Trump Administration etc will then become apparent and this latter situation is why I'm still in HODL mode. This is pandemic crisis is simply a black swan event IMHO over the real world mismanagement of economies worldwide..which will reach a frigging head... sometimes when people look at facts of such after this pandemic and the supposed restart of the economy and find out that NOPE..that ain't really gonna float well either. Anyway, why I HODL and still on plan B route and accumulating BTC/Crypto......there is a 2nd act after this pandemic passes...and there is still a lot of blood to be spilt..when folk look about and go whew! Onward and upward and find the ladder to such much steeper when re-evaluating after this pandemic. ugly, ugly, ugly for everyone for probably the rest of the year. Indeed this could wipe out any gains at all from halving (pandemic) and cause a 90% miner capitulation. So I'm gonna treat it, for now, like the crash of 2013-2014 from $1,000 BTC to $250 BTC or some such and accumulate and HODL. If I'm wrong and BTC/Crypto is just a 'speculative endeavor" like stockmarket etc and not a 'store of value' well ...' supposedly' it will still come back via adoption and use along with such things as the stock market at least someday ..worse case. Anyway, my view (whim) so far.  Bloody Frigging Sunday Indeed! |
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I was thinking about my private medical insurance which is supposed to cover me worldwide... but, yeah, probably there are lots of exclusions that I never even bothered to read... But I have just checked that it seems that there is a maximum cover of 50000€ which, after knowing the completely ridiculous prices of medical services in US, it's almost a joke.
dude, 50K? we ain't even scraping you off the windshield for that...peasant Yeah... but maybe it would be enough cover for an aspiring if I do get a headache while overseas? I have read about completely terrifying stories (invoices/receipts included) of medical expenses running on the several hundreds of thousands dollars for what would otherwise be considered minor/mild health issues... like stents surgery, back surgery... or a few tens for a very simple bone fracture... and that without considering a long stay in the hospital which cost is simply mindblowing. This is how the insurance companies are stealing peoples houses now. Short stays after surgery (intentionally get inflated:Especially for older people unable to make decisions) start them on roads where they never go home. The amount of drugs they pump into them is amazing and they go home hooked. The health care system is designed to take assets in this country. BTW there are never any shared rooms available. https://www.medicaidplanningassistance.org/nursing-home-costs/You have to read all the clauses of your insurance policy, insurance companies normally do not take charge or do not include coverage if a pandemic is declared.
Most insurance runs out on nursing home stays as well and they happily start a revers mortgage for you. I was told today by a friend on this that if you have to go to the hospital from your nursing home or assisted living place..your soc security and medicare stuff will only pay for the hospital stay and not your nursing home or assisted living place that such would usually apply to. Now I understand why I keep seeing Facebook memes of old folk being kicked to the curb by their nursing home or assisted living when they come back from the hospital. No way to catch up on past rent..thus you are on the curb it seems. As an aside, years ago, Canada had a web-based questionnaire on what it would take income/age/etc to be considered to immigrate to Canada. This has since been put up as a humor site someplace because it was always 'slammed' by folk like me curious. At that time say 10 years ago, an 18-year-old immigrant from East Africa has a better shot/score on this than myself at 55 years old, because the young person would have 'years' to contribute to the social network and safety net of Canada's social compact than I ever would. I found that kinda amusing and depressing at the same time. About 2 years ago I took the same questionnaire (it is still on the net someplace or was) and NOW after BTC/Crypto ($$$$) they would fall all over themselves to accept me! Sheesh! Sometimes I think I should only date Canadian Women as an option/backup plan...just in case.  Anyway, money talks and bullsh*t walks applies everyplace it seems. |
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I'm currently thinking $75 a board or for a 3 board SC1 unit $225 plus shipping for such a unit. All working boards. Escrow through me. (see Trust) or somebody else. Whichever. At current prices of Siacoin and the above 3 board unit now making (after my electric at 10c kWh) and being 'used' equipment and all..it makes currently from this calculator https://www.whattomine.com/coins/161-sc-sia at 750gh at 750 watts = $0.25 per day profit at $1.80 electric use. As you can see I'm betting on a Bitcoin/Crypto pump to raise all boats. Wrong or Right what I'm willing to pay today. Units we have gotten seem to pretty much hit 750gh max. This 'whim' could change at any time via the 'pucker factor' of risk vs price changes. IF I commit to a 'buy' via PM I will stick to such. I miss those 2013 handshake deals So I know there are a 'lot' of these units out in the world that has been 'pulled' from data halls for the obvious reasons, either for non-payment or just the fact, they are getting new equipment (usually Bitmain) and as a data hall of any size, you can't really afford 750-watt units and make 25c a day on them after electric. So, I'm being 'silly' probably and making a 'speculative' bet that rising BTC/Crypto/Altcoin prices 'raise' all boats, even Siacoin. Let me know if you have such laying about for my above reasons. Again, this offer is only as good as my 'pucker factor' stays intact and I don't lose my nerve. But I know these units are 'piling up' and thus my offer here. Again, escrow if you feel the need, or again escrow through myself (see profile) whichever you are comfortable with me on Bitcointalk. (re-read above...jeez..this is 'dubious' as heck!) later Brad |
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I reckon they should use bitcoin to fix this hehehe. They will hit 2 birds with 1 stone. They can report more than healthy electricity consumption and activity, however, they can also produce bitcoins as grounds for the fraudulent behavior hehehehe. Local companies and officials are fraudulently boosting electricity consumption and other metrics in order to meet tough new back-to-work targets as the spread of the new coronavirus in China wanes, a Caixin investigation has found.
Leaving lights and air conditioners on all day in empty offices, turning on equipment, faking staff rosters and even coaching factory workers to deceive inspectors are just some of the ways companies fabricate rosy statistics for local governments to report up the chain.Read in full https://asia.nikkei.com/Spotlight/Caixin/Lights-go-on-but-no-one-goes-to-workthe catch is if the infection rate is 3x that of the flu...and 10x more serious than the flu...and the experts say 40% to 60% will catch this worldwide.  Well, that will be IMHO, much higher in cities, even cities of say 5K or above in the USA as an example. Add to all the 'fun facts' above, that it will take up to 1 to 1.5 years for a vaccine...a person has to wonder whether those who get it at the 'beginning' of this Pandemic won't have better medical care and such, before every 4th person out of 10 people you see on the street is contagious.  Even if (as I hope) this virus is milder, as they also say 80% recover. Who wants to get something that is a cross between a hard flu sickness and lung congestion/Pneumonia! This would suck and put you down for 2 weeks to a month, even if 'indeed' 80% recover, no matter how 'crummy' this scenario is. So with my above facts, what do people really think if 40% of folk who work in this country..simply can't for 2 weeks to a month, due to being ill with these flu/pneumonia symptoms...will do to the economy. This could be economically and health-wise almost as bad as the sickness itself for most people, in their lost wages and medical expenses in the USA. Again, if above had 'some' truth to this and it really does take up to 1 to 1.5 years for a vaccinee. Hate to say the sky is falling, but get your sh*t together, the current Trump Administration, IMHO, certainly does not seem to be on the ball! Brad |
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If the coronavirus never happened, we'd still eventually have a 20% (which is a regular recession) and in my view, we would have anyway had a good shot at a 40% recession. The 40% recession, view I had before the coronavirus, was the massive tax cuts with little economic result in the USA with the current Trump administration and the Republican Senate that has 500 or more bills from the US House, that they refuse to vote on. To me, this is unprecedented, sure in the past, if your party controlled the Senate you would ALWAYS just just vote them all down and zippo...none passes. But hey, in this day of daily fast news and internet, if you DON'T VOTE AT ALL, you have no record of note to get beat up and run against in the next election. You are as pure as the driven snow, except for the small detail of refusing to pass any legislation at all, even ones your own members want to be passed that makes sense in a bi-partisan way, but Republican Senate Leadership and the Executive Branch are just 'dandy' using gridlock as a political means to extort stuff in this democracy. Add to the crisis of children being taken away from parents at the border, Environmental, massive tax cuts to the rich and corporations...I mean what could NOT go wrong! This is all due to the current Trump Administration...where all government is evil and all crony capitalism is good! I indeed expected a 20% drop (recession) as a done deal and a 40% recession as 'likely' well before the Coronavirus! Now we have the Coronavirus Pandemic. So much for BTC/Crypto as a store of value (so far) in a pandemic. Everything went down BTC/Crypto/Gold/Bonds/Stocks! Blam! Even stuff that was not supposed to go down. like a rock, when the stock market dumps, like US bonds (tough to keep them up with no confidence in US fiscal policy anymore with Trump antics of Tariff, etc) and of course Bitcoin. In bitcoin/crypto's case I HOPE it is a store of value and the dump with the stock market was due to NO ONE having real emergency funds for this kinda thing (especially in 3rd world nations) ..so what? you cash out the gold under your hut? too soon? you get as many USD dollars as you can? What can I dump 'quickly' to fill emergency fund ..well BTC/crypto right away! I assume as this Coronavirus Pandemic drags on this will change and gold/BTC/crypto/bonds will recover vs stock market..but we will see. So to conclude...NOW...after this Pandemic has hit! I think we are royally f*cked...due to all the above BEFORE the coronavirus....I think NOW we are very likely to have a 40% correction if this goes on for a year at frigging best! As experts on commerce combined with disease experts on how this disease spread..seem to be agreeing on ..this may take a year or so to all calm down. So a for sure now IMHO a good 40% correction (hopefully brief with a vaccine, and bounces back within a few months to regular recession) But if th spread and the disorganization here in the USA and the world continues at this current and past level..it could well (hopefully briefly) bounce into DEPRESSION territory ...ie 50% dump in worldwide production due to all my above fears combined with the Coronavirus Pandemic and Vacinee not controlled and addressed very quickly. as a correction. Sh*t on a stick we would be 'beyond' screwed. I hope I'm wrong but was not a big fan of the direction things were taking in the USA and worldwide leadership and corporate greed before the Coronavirus Pandemic. This A pandemic that may have just tossed a lot of gasoline on an already out of control fire of the economic/social/health variety. Sh*t just got way, way worse, IMHO. end of rant brad |
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anyone doing anything with these beasts yet? I got some used ones to play with (dubious purchase)
anyway....just wondering
brad
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If your heatsinks are falling off or some are still using those plastic clips to hold them down,just order some arctic silver thermal adhesive from amazon and remove them all,clean and glue them down to the chips.And throw those plastic clips out 😉
yeah, we have done that with great success...they also run just fine on their side...but seems like there are NO other components on the bad boards you can test if they go bad, the whole board goes bad. So anything else I can tell an electronic tech to look for that is wrong on these boards beside the obvious heat sinks falling off and running them on their side... and of course good airflow? The boards look fine, no real heat or anything else, they look just like the working boards, especially with the re-done heatsinks, etc. They just do a good imitation of a 'brick' anyway, so it goes later Brad |
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Don’t pay more then $50
Yeah, and the only reason I'd do that is that I bought these at the high when a 3 board unit was making like $2.10 a day profit with my 'dubious' 10c kWh rate. But yeah, $50 with escrow would be about it. They always arrive with heatsinks off..and no other fix I know of that you can do on these obelisk sc1 boards but fix the heatsinks/clean with alcohol and with the heatsinks the contact stick foil to put them back on. As far as I can tell, once done, a bad board by appearance can't be told from a good board. I don't suppose, besides the heatsink fix on anything a person gets there is any electronics folk that fix these puppies? Probably impossible, but figured I'd ask. Any working I did get at the above $50 price all it does for me know would be to 'lower' my other 28 blades I paid way too much for. Well what works on a 'rising' market in BTC/Crypto sure don't work in a falling market ASIC equipment-wise. Ah, well, not that big a deal, but I sure got flat-footed on this last stock market/virus enthusiastic dump in price and mining revenue in that last couple weeks. |
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Thank you for this very useful link. I suggest all of you to see this, and stop worrying too much because more people are recovering than dying from cofid 19. Hyperbole media reporting often causes panic, may worry but must be based on knowledge. Don't forget to monitor information from the official health account in your country, follow the instructions, keep it clean, wash your hands before touching areas on the face and glands, etc. I don't think this has a direct impact on the movement of cryptocurrency. Although the trend tends to go down, there is no significant movement, do not then relate it to this outbreak, there could be other factors. Stop speculating which tends to cause anxiety. So according to this link, there are 7.8 billion people on the Earth, more or less, for math use. https://www.worldometers.info/world-population/I heard PBS Radio Today...that this virus could have up. to 1.5% infection rate. Even if this epidemic is milder as we hope. The 1918 pandemic https://wwwnc.cdc.gov/eid/article/12/1/05-0979_article with a death rate of greater than 2.5% BUT over 40% of the world's population was infected. An expert on PBS radio today, who wrote a book on the 1918 pandemic, https://www.mprnews.org/story/2020/03/03/john-barry-on-pandemics says that he had 'friends that model such stuff' and project a 40% to 60% infection rate worldwide. Thus with 7.8 billion people on the Earth x say 40% infection rate and a 1.5% infection rate would be worldwide deaths at that 40% infection rate of 3,120,000 deaths worldwide if my Math is correct. It would be much, much worse after supplies run out and also in developing countries so you could double that. Also, supposedly a much higher risk if over 50 years old. To be blunt, there would be more deaths from the 'shutdown' of trade and essential services that the pandemic, IMHO. Commerce even for say, worse case, for 3 weeks would just stop in an attempt for this pandemic to burn itself out. Anyway, I'm retired, I may just sometime in the future have the lifestyle of a live a home hermit, if it gets that bad, for others who can't afford to NOT, go to work, over the age of 50 ..main breadwinners..it could be devastating indeed and yet another risk in your life. As to how this all applies to BTC? Well, it could be BTC will not act as a store of value under a pandemic. You can 'liquidate' BTC instantly with your phone to refill your emergency fund in say, Venezuela. There will be countries that will close banks and other dubious actions to keep control. So BTC may indeed be the 'great' emergency fund but NOT a store of value and drop the same as every other speculative asset out there like stocks...just because only thing out there to buy stuff in especially dubious 3rd world countries when things may become all 'unglued' Anyway, we will just have to wait and see how this plays out I guess. Brad |
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The catch with this is IF he could do this like 4 levels down into dubious connections with legalities and the law, with his fake patents and such using the courts to compel miners to do as he
says...then IMHO, all crypto of any kind is dead, any developer of any crypto (founder) could get lawyers and find a loophole and essentially 'blackmail' the crypto
project whatever it was into doing the founder of the crypto's bidding. Anyway, he has multiple jurisdictions in the world to play these games..he did
a lawsuit for a guy that I think is still in play in the U.K. assuming he could use the libel laws of the U.K. and his money to bury the guy, folks flocked to his defense and he had money to fight it
and indeed it may have already been tossed out of court in the U.K. because the guy can adequately defend himself now in court.
Craig Wright also using dubious patents in many dubious countries is also using Australian law to not comply with a current case in a U.S. Court. There are likely a dozen examples.
Anyway, I'm not hopeful, Donald Trump got 191 million or some such from his inheritance and essentially has had 9 bankruptcies...so if you have enough cash and
its a worldwide thing like BTC, I'm sure Craig Wright can continue to make fake cases in dubious court systems around the world to hype his 'fake satoshi' scam for years to come.
Sad Indeed!
Brad
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I'm not an expert,but AFAIK,even if all the miners located in China stop working,this will decrease mining difficulty and the rest of the miners around the world will successfully handle all the BTC transactions.The blockchain is decentralized,if sertain parts of the system have to shutdown,the rest of the system will carry on.
That's why we aren't dependent of the Chinese miners.
The halving is in 2 months now, so we should see a rise in the hashrate and the difficulty. But except today we haven't see that. The difficulty and the hashrate haven't increased at all in february, they have been totally flat.  It means there is a real impact from the coronavirus, and the close of mining facilities in China. https://www.blockchain.com/charts/hash-rate?timespan=30dayshttps://www.blockchain.com/fr/charts/difficulty?timespan=60daysthat is my fear...is BTC/crypto simply a 'speculative asset. like stocks that are good in good times but really bad in bad times? In other words, the $$$ that goes into BTC/crypto as a a speculative asset is not determined by the whole 'store of value' argument..but more like cash, in bad times the first thing to get spent to fill up the old emergency fund before you liquidate you other more cumbersome assets like stocks and gold etc? That would be bad, very, very bad for me and my HODL BTC/crypto position indeed. I really was not a big fan of today (Monday 3/2/20) and stocks go up big and BTC/crypto follows...we will see i guess. |
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This is also true of any crisis..imagine you are trying to prepare your likely 'emergency fund' which also likely is empty....in say Venezuela
Any of that current currency, if you have such, is probably getting even more worthless due to last week's dump of stocks/BTC/etc. So you can
dig out your hidden emergency gold and/or stocks or take out a loan (all doubtful) or you can liquidate that Bitcoin you've been accumulating
that you were and are buying food, in say Paraguay or some such, because they never will again take Venezuelan currency.
But with this handy/dandy BTC/crypto with the ability to get USD out of such back from BTC and into say USD into your phone, you now can stock up for coronavirus.
This is happening with everyone around the world due to the instant and easy liquidation of BTC/Crypto for such pandemics we may be in the process of having.
So, BTC as plan-B for emergencies this should NOT be a surprise. Was to me, just saying, it should not have been. This easy liquidation is a feature of BTC, the same
as accumulation is.
So we will see how this pans out if/when the stock market continues to fall and other things happen....currencies get manipulated around the world and IMHO
BTC price will swing back to upward and accumulation will resume and such BTC for the same ease of use above and BTC's decentralized nature.
But this time as a store of value, for these further games by governments and the next round or two of emergencies with this crisis. Again, IMHO. This liquidation
as a phase of BTC/crypto sales and the price, dumping is just the 1st act of this whole coronavirus, again IMHO. Boom or Doom, we will be the first to know!
later
Brad
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This is also true of any crisis..imagine you are trying to prepare your likely 'emergency fund' which also likely is empty....in say Venezuela
Any of that current currency, if you have such, is probably getting even more worthless due to last week's dump of stocks/BTC/etc. So you can
dig out your hidden emergency gold and/or stocks or take out a loan (all doubtful) or you can liquidate that Bitcoin you've been accumulating
that you were and are buying food, in say Paraguay or some such, because they never will again take Venezuelan currency.
But with this handy/dandy BTC/crypto with the ability to get USD out of such back from BTC and into say USD into your phone, you now can stock up for coronavirus.
This is happening with everyone around the world due to the instant and easy liquidation of BTC/Crypto for such pandemics we may be in the process of having.
So, BTC as plan-B for emergencies this should NOT be a surprise. Was to me, just saying, it should not have been. This easy liquidation is a feature of BTC, the same
as accumulation is.
So we will see how this pans out if/when the stock market continues to fall and other things happen....currencies get manipulated around the world and IMHO
BTC price will swing back to upward and accumulation will resume and such BTC for the same ease of use above and BTC's decentralized nature.
But this time as a store of value, for these further games by governments and the next round or two of emergencies with this crisis. Again, IMHO. This liquidation
as a phase of BTC/crypto sales and price, dumping is just the 1st act of this whole coronavirus, again IMHO. Boom or Doom, we will be the first to know!
later
Brad
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Been thinking about it a bit more. Bitcoin does not produce anything. There is no dependency on any supply chain being functional or not. Dumping your precious bitcoins like a company stock because of a non computer virus makes absolutely no sense. It is an irrational decision unless your purpose is to try an buy them back cheaper, and we all know how that worked out over the last 10+ years for Joe Average.
The problem is that a fair amount of BTC is owned or at least manipulated by Wall Street and large institutions like Bakkt and the CME. Wall Street views bitcoin has an extremely high risk asset, meaning it is the first asset to get sold off whenever there is a panic of sorts. Only after Wall Street has minimized its involvement with BTC and regular folks feel comfortable with their amount of fiat money will BTC's price begin to stabilize. Sorry to be the bearer of bad news, but that's what I believe. This is also true of any crisis..imagine you are trying to prepare your likely 'emergency fund' which also likely is empty....in say Venezuela Any of that current currency, if you have such, is probably getting even more worthless due to last week's dump of stocks/BTC/etc. So you can dig out your hidden emergency gold and/or stocks or take out a loan (all doubtful) or you can liquidate that Bitcoin you've been accumulating that you were and are buying food, in say Paraguay or some such, because they never will again take Venezuelan currency. But with this handy/dandy BTC/crypto with the ability to get USD out of such back from BTC and into say USD into your phone, you now can stock up for coronavirus. This is happening with everyone around the world due to the instant and easy liquidation of BTC/Crypto for such pandemics we may be in the process of having. So, BTC as plan-B for emergencies this should NOT be a surprise. Was to me, just saying, it should not have been. This easy liquidation is a feature of BTC, the same as accumulation is. So we will see how this pans out if/when the stock market continues to fall and other things happen....currencies get manipulated around the world and IMHO BTC price will swing back to upward and accumulation will resume and such BTC for the same ease of use above and BTC's decentralized nature. But this time as a store of value, for these further games by governments and the next round or two of emergencies with this crisis. Again, IMHO. This liquidation as a phase of BTC/crypto sales and price, dumping is just the 1st act of this whole coronavirus, again IMHO. Boom or Doom, we will be the first to know! later Brad |
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Just an aside when Siacoin to BTC was at the high on 2/13/20 or about 26 days ago...(I purchased miner 10 days ago) they made $2.10 a day, with flat difficulty.
Now today that same miner makes 39c per day. So what works on a rising market...sure as hell don't work on a ASIC's on a falling market. You can have everything
planned out well. (Believe me, the 20/20 hindsight was well....damn good on paper) but alas a 'black swan' event like this coronavirus can really mess up your plans.
Anyway, for your amusement and consideration. Man do we need a pump in price for BTC/Crypto. This is 'beyond' ugly indeed!
later
Brad
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no need to celebrate this? Like Coincheck, Binance is another leech which encashes a few % of the low Lisk rewards for itself now. Only ultimate noobs which are not even able to set 101 delegate checkmarks at the Lisk wallet should cheer. While any other smaller voters´ rewards are shrinking now, just as the sense of voting their favorite delegates - Coincheck and Binance can now dictate who will forge and who won´t, trough the huge assets of their cold wallets. Several standby-delegates already started with begging for the exchanges´ votes, lol. So on the whole? Another "great" progress for the awesome Lisk "Cartel" DPos. 💩
I should dump my LISK .. I paid 25c per lisk, for it on the ICO..but they seem to be having even less progress than usual...it looks like the slow wind down to 'dead coin' status. I should have 'obviously' sold Liks when it was like $20 or whatever it was, but alas, I drank the kool-aid on this and other sh*tcoins and was in HODL mode for too long. The fact that they ONLY toss-up announcement 'blurbs' here on this thread on Bitcointalk I guess is evidence enough they really don't want to get into the ifs/cons/prospects of a LISK discussion on here of any kind, is also kinda obvious they really don't give a frack about pushing their supposed 'hot' project anymore. Sad. Brad probably in half year, we will see new voting system, 1 address 1 vote, not 101 as now that should be encouraging...but then again you could ply addresses maybe? *unsure on how that could be played* but yeah would be an improvement |
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no need to celebrate this? Like Coincheck, Binance is another leech which encashes a few % of the low Lisk rewards for itself now. Only ultimate noobs which are not even able to set 101 delegate checkmarks at the Lisk wallet should cheer. While any other smaller voters´ rewards are shrinking now, just as the sense of voting their favorite delegates - Coincheck and Binance can now dictate who will forge and who won´t, trough the huge assets of their cold wallets. Several standby-delegates already started with begging for the exchanges´ votes, lol. So on the whole? Another "great" progress for the awesome Lisk "Cartel" DPos. 💩
I should dump my LISK .. I paid 25c per lisk, for it on the ICO..but they seem to be having even less progress than usual...it looks like the slow wind down to 'dead coin' status. I should have 'obviously' sold Liks when it was like $20 or whatever it was, but alas, I drank the kool-aid on this and other sh*tcoins and was in HODL mode for too long. The fact that they ONLY toss-up announcement 'blurbs' here on this thread on Bitcointalk I guess is evidence enough they really don't want to get into the ifs/cons/prospects of a LISK discussion on here of any kind, is also kinda obvious they really don't give a frack about pushing their supposed 'hot' project anymore. Sad. Brad |
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The below are my thoughts on WHY is it that BTC is not acting like a store of value ...like we figured...
in hindsight...being easy to move and everyone needing to fill up their likely or never had emergency funds
it is the 'quickest' method for quick cash worldwide on a 'cashout'
my other ramblings below on this view (guess/idea/lunacy?)
Interesting..you have a crisis...a potential 'pandemic'
thus BTC is used as a store of value in countries where such things would be much worse..you can't trust your government
or your banks are corrupt or whatever, like say Venezuela.
So now you have your crisis, the one that states 'bitcoin will be a store of value' but what you find is..don't want to take $$$ out
of the bank (or hard or like Venezuela you have no cash in banks)
----------------------------------------------------------------------------------------------------------------
So of all the assets, you have set aside like, gold/silver and US currency and Bitcoin
which is the 'easiest to move' in a country like Venezuela for quick emergency cash?
You could make the same argument for the USA..do I really want to call my broker to move $$$ out? Or wait for long-term on such?
Say you are cash poor and 'iffy' on your finances if this goes on for a bit, as a result of a potential layoff or whatever or coronavirus fears...due to slowdown and stoppage of parts in China?
But damn, I can dump BTC to 'refund' my (ashamed because empty) "emergency/catastrophe fund' in case any/all of above come to pass.
Take this logic worldwide on the status of the current economic issues of all these worldwide and peoples likely reaction to such and it seems to humble a BTC/Crypto HODL'er indeed!
So we have the 'twin' fun times of when the stock market crashes on fears of something like this ...discretionary $$$ move out of BTC/Crypto and we dump too.
But like today, when the stock market pumps, BTC/Crypto also dumps as much or more.
Great thing BTC as a store of value for trying times...until the trying times come...damn this is harsh...
HODL I guess, but I'm also as 'cash strapped' as all the idiots above if this continues, so sh*t, this cluster could go on awhile if my 'dubious' above views are kinda correct. Sad
The only hope is this resolves itself and stabilizes and Bitcoin recoups as a store of value and being just temporary shakeup/crash in BTC/Crypto. Indeed I hope so!
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So sh*t on a stick, I hope this is the end of such and at least BTC/Crypto acts like Gold say and goes, again, at least, 'sideways' in price vs further 'likely' dumps
in the stock market, etc
Chump or Champ or Pump or Dump or Boom or Doom
we will be the first to know!
Brad
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