The Chinese economy is expected to surpass that of the U.S. in 2028 - five years earlier than previously forecast - following fallout from the coronavirus pandemic, according to an analysis released Saturday. Source: https://www.msn.com/en-us/news/world/china-expected-to-surpass-us-economy-in-2028-analysis/As stated, this is 5 years earlier than last projected, due to the effects of the pandemic. The US is not going to like being in the number two spot, and even less when India’s economy then surpasses the US after that. The biggest benefit to this massive Asian economies is the sheer number of people. The United States’ best hope of competing is to increase the number of Americans and, and quickly. The US should be drastically overhauling the skilled worker visa program to greatly increase the number of tech workers brought into the country so that the next tech mega companies are created here, and not in Asia. This is should be viewed as an area of national security. Larger militaries inevitably follow larger economies, and the US can not afford to squander the advantages while they still have them. In my opinion, China's competitive advantage over the United States lies not only in its large population. China is a mono-ethnic country. The official religion is Buddhism. There are few Muslims in China end they are tightly controlled by the central government. This means that China is not threatened by inter-ethnic and inter-confessional conflicts. In the United States in the future, interethnic and interfaith conflicts are possible, since the US population is very heterogeneous. China is led by the Chinese Communist Party. There is only one political party in China. This allows for important decisions and systematic development of the economy in a predetermined direction. China is very much threatened by inter-ethnic and interfaith conflicts. That's why they've rounded up their Muslim inhabitants by the millions and put them in concentration camps and torture them under "re-education" programs. China is so centrally managed because the leadership is deathly afraid of anyone who doesn't swear absolute loyalty to the party. |
|
|
|
I think a very good decision was made by Russell Okung by asking for salary paid in Bitcoin. As the current Bitcoin price continues to skyrocket,
I believe Russell Okung will influence other NFL players to do the same. If more and more people ask for salary payments in Bitcoin, this could
make Bitcoin more acceptable to more people. The result will increase the Bitcoin price.
A few years ago, celebrity adoptions such as the one from Russell Okung would have made an impact at the cryptocurrency market. But now, with hundreds of millions of users and large number of mainstream companies accepting Bitcoin, it may not make much movement. But the fact is that Okung made the request two years back, in 2019. The media ignored it then. They are covering it now because the Bitcoin hype is back. I would generally agree with this. Everything about bitcoin is being covered by the mainstream media right now because the price makes it newsworthy. It's hard not to cover it when it doubles in a month from what was at the time already an all time high. |
|
|
|
Frankly tired of seeing these garbage conspiracy theories on the virus being engineered for any reason, let alone something as nonsensical as a financial reset.
Yeah, I don't understand exactly what a "financial reset" is. If anything, all this money printing and stimulus checks might lead to some severe inflation--and that won't be good for anyone assuming wages don't rise as well. That's not to say that governments couldn't or wouldn't take advantage of a pandemic to do some shady things, but I seriously doubt any government created COVID-19 with the intention of affecting the economy. I'm a firm believer that this is what biology does from time to time: produce mutant strains of viruses/bacteria which are much harder to deal with than anything previously known. So despite the "evidence" of a conspiracy, I'm not buying it. Not to mention that nobody is stupid enough to release a biological agent which cannot be controlled into the population. If your conspiracy theory is that the "elites" are trying to control people by releasing a virus into the world that can't be controlled, then I'm sorry you don't realize how stupid you are but the rest of us do. |
|
|
|
|
I feel like such an idiot. I didn't realize what the Wheel of Fortune promo people were talking about was and I don't know how I've been missing it for all these weeks, but basically just throwing away free btc like a dummy.
|
|
|
|
SkyBridge investment thesis reads more like a bitcoin love declaration! Can you imagine all the companies' boards discussing how to plan to put a % of their cash reserves into btc as we speak? Trust me, that is happening for quite a long time now  Lol, to be fair that's not about bitcoin. No investment company ever that's trying to sell someone on an investment product is going to write the pitch as anything other than the most glowing love letter. |
|
|
|
The main currencies like usd eur gbp cad ......
Who payed for that ? With their devalue of money and fall of living standard ?
No one's paid for it. What you're getting at essentially is deficit spending by governments. It's relatively new that the fed prints money to support deficit spending, but it's "paid" when the money is paid back; that is paid back from future surpluses (assuming you ever run a surplus, which the US in particular is horrible at doing). |
|
|
|
So BTC as a cryptocurrency-let's be honest - did not take place in the direct sense. Now BTC is just a financial tool for speculating on the course and nothing more. It is disgustingly inconvenient to use in everyday life - it is long, slow, clumsy and too unstable.
Saying anything bad about bitcoin around here doesn't get you much agreement, but what you've said is true. Bitcoin is a horrible currency and people need to stop pretending like it's ever going to be better. It's a store of value and a speculative vehicle, not a useful currency. |
|
|
|
One way or another, from all the information received, which is from official sources, as well as from other news media channels, it can be concluded that no vaccine meets all the criteria that should overcome the coronavirus and give immunity to humans. Is it worth taking this risk and putting yourself at another risk by acting as a laboratory rabbit for research.
What do you mean by this? Several vaccines have shown great efficacy against the virus (90% or better). When upwards of 70% of the population has been immunized, the whole population will be considered to have reached herd immunity. |
|
|
|
I don't have anything against Tesla (TSLA), but it is the most overpriced stock I could find in the market. The P/E ratio is more than 1,700, which is almost a hundred times the average level. AMZN also looks overpriced, with a P/E of more than 90, but not anyway near those levels for Tesla. The next time when a major market crash occurs, these stocks are going to drop like crazy.
While I agree with your conclusion that Tesla is grossly overvalued, you will often see absolutely insane PE ratios for high growth tech stocks, which is how Tesla is valued vs. being valued as a car company. Whether or not you agree that's appropriate, that's what it is. |
|
|
|
Is it not already a currency?
Not really. It has never fulfilled the most important aspect of a useable currency and that’s price stability. An inability to hold a consistent value makes bitcoin a poor currency. Store of value and speculative assets aren’t the same thing as a currency and that’s primarily how we see bitcoin being used. |
|
|
|
|
You should substantiate your claim that the vaccine won’t work against the new strains of the virus because it seems critical to your assessment that this guy I’ve never heard of is right about a collapse, and more importantly all evidence I’ve seen reported so far are that the current vaccines are effective against the new Uk strain of the virus.
|
|
|
|
Your title is misleading, OP. Tesla hasn't overtaken Amazon and it's far from it. https://companiesmarketcap.com/assets-by-market-cap/Tesla market cap has to double to pass Amazon. Does anyone know why Musk is richer than Bezos? Maybe it's because he owns a higher percentage of shares and maybe because he also owns SpaceX. I think if the point is Musk is now richer than Bezos, why doesn’t really matter. Since Tesla is a bubble in my opinion, I don’t see it holding permanently anyway. Amazon has far more staying power than Tesla does. Also, agree on the misleading implication in the OP. Tesla is no where near as big as Amazon. |
|
|
|
<...>
As for the redemption program, it is clear that Grayscale does not provide such a possibility - but what specifically happens if a SkyBridge client requests activation of such a program?
I till have to be sure about the details, but basically what I think that would happen is the following: 1. The client asks a redemption
2. The client returns the shares to SkyBridge
3. SkyBridge burns the shares, which control X Bitcoins
4. SkyBridge sells the X Bitcoin for Fiat
5. SkyBridge gives the sales proceeds to the client (bar a commission). Some modification is possible in case of an "in-kind" contribution/redemption, which I don't even know if it will be possible. The slides SkyBridge put out say they will offer redemptions quarterly with 30 days’ notice, so in those cases the fund would liquidate the underlying assets equal to the redemption request and pay out to the investor. This is how it works with similar funds that invest in equities when a redemption request is made. Since this fund pledges to be 100% invested in bitcoin, this is the only conceivable way it could work. NAV is constantly re-evaluated based on how many shares the fund has issued (net redemptions) versus the overall value of the underlying assets. As a separate matter, this offering looks more friendly to Grayscale both because of the redemptions and the asset management fees are significantly lower at 0.75%. |
|
|
|
|
Frankly tired of seeing these garbage conspiracy theories on the virus being engineered for any reason, let alone something as nonsensical as a financial reset. The bitcoin community has enough trouble not appearing like a cult of crazies as it is, and having people associated with bitcoin constantly pushing trash like this doesn’t help us. This community needs to be better than to embrace this trash.
|
|
|
|
If we're talking about diversifying an investment portfolio, then Bitcoin should be one of the best options.
The fact that Bitcoin is giving good results during the previous years really is something to consider.
Michael Saylor does have a reputation in finance already, that's why people and even institutions will trust what he envisions. That is basically it in my own opinion.
Michael Saylor’s reputation isn’t one I’d be touting. He’s been notably prescient in his bitcoin timing, but his huge blunders stick out more in my mind when it comes to reputation. In 2000, he settled a case with the SEC for inaccurately reporting MicroStrategy’s performance for several years and paid a penalty of $350,000 and paid further disgorgement of about another $8 million for his behavior. Earlier this year, he published a rant against social distancing despite the fact that the world being ravaged by a global pandemic. The guy has hit it big with bitcoin, but he’s not exactly trustworthy or a paradigm of enlightened thought outside of bitcoin. And his constantly hyping bitcoin at this point cannot be separated from his financial incentives to do so and can no longer be considered to be a point on principal. It’s a very unpopular opinion around here, but Saylor definitely seems slimey to me. Shilling for Musk to get Tesla to put some of its cash into bitcoin is the most recent example when it makes zero sense for Tesla to do so due to the extreme capital needs of that company, which Saylor should know (or else he’s not as smart as everyone claims) so his effort was solely about pumping the price of bitcoin for his own financial benefit. The guy is just a constant salesman, and I hate that he’s Bitcoin’s great champion right now. |
|
|
|
|
What’s helping the Chinese economy is that they are such a manufacturing powerhouse. Actually MAKING things is transforming the Chinese economy, the same as it did for the US during the 1940s when WWII-related needs forced the US to rapidly and massively increase manufacturing. This carried forward after the war and created a robust middle class which is what built the wealth of the nation. China is undergoing this same process currently. With the US manufacturing less then they would have because of offshoring, I’m concerned about the US economy’s ability to keep up.
|
|
|
|
Whats to stop someone from creating their own USDC or some form of fiat currency with no central backing and issuing it to every person in the world and told them collectively that this value will always valued to the USD or whatever.
What’s stopping this is that without the ability to peg it to the USD, nobody would have any reason to believe them. You’d have to have the ability to pay out anyone wishing to convert the new coin in USD if you’re promising it’s going to be pegged to the value of it, so you’d have to have reserves equal to that. If you were able to do that, it would indeed have that value. But obviously nobody can do that, which is why the coin eill Be worthless. |
|
|
|
After reviewing some of Okung's tweets, he appears to be quite the bitcoin bull, and backing it up by requesting half his 2020 salary in bitcoin. To be honest, this is a PR stunt in order to use bitcoin and its glorious bull run to gain popularity and appeal to the bitcoin users on social media to follow them. That has been the case with every other celebrity/sports personnel commenting about crypto and so on. Probably the guy himself knows nothing about what bitcoin is and how it works - I can bet on that. Social media comments are never done by the person whose name is on the account but social media managers (SMM). Just tell them to pump up the account with some bitcoin related stuff and pull up the media for such a stunt and you are good to go. Skeptical but in many cases this is the proper case.  I dunno, he was tweeting about bitcoin and wanting to be paid in bitcoin in 2019, long before this most recent insane run. I suppose it’s possible to be a publicity stunt, but to what end? |
|
|
|
|
There’s a spate of posts in this forum by this poster recently that all have no coherent point and are low effort posts. OP shouldn’t be regarded at this point as anything other than a spam poster.
|
|
|
|
|
The opposite is true as well, an market boom doesn’t mean the economy is healthy. In fact, that’s exactly the case we have. The economy is in tatters because of the pandemic and the stock market hits all time high after all time high. They’re not correlated at all anymore.
|
|
|
|
|
Show Posts
