https://blog.bitmex.com/inflation-is-coming/BitMEX Research 17 Mar 2020 Abstract: We evaluate the impact of Coronavirus on the economy and financial markets. The response to the virus will mark a significant economic regime change, from monetary policy to central bank funded fiscal expansion. Eventually, there will be one clear winner under this new regime: inflation. Economic circumstances could look like the 1970s, with volatile inflationary expectations. This regime change and inflation will be something financial markets find difficult to tolerate. In this environment, Bitcoin could be given its biggest opportunity, in its short lifetime.  I feel like reading financial news looking for guidance these days is like flipping a coin. https://cointelegraph.com/news/experts-predict-deflation-there-goes-bitcoin-narrative-697It’s interesting to note that inflation in the US actually fell 0.4% in March to 1.5% — and many believe that inflation will only go down from here. New York Times Senior Economics Correspondent Neil Irwin wrote this week the negative oil price was a sign the world is in “a deflationary moment".
“The Covid-19 crisis is an extraordinary deflationary shock to the economy, causing the idling of a vast share of the world’s productive resources,” he wrote.
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Bearish markets are definitely a chance for those of us who think long term and couldn't afford to get in at FOMO. Which is why I've really appreciated the past 2/3 years. I mean, everyone's hoping for price to go up but I'm happy to wait another couple of years when the economy picks up, crypto will explode.
Even if we can assume that you are right and at the end of the crisis the cost of cryptocurrencies will increase sharply there is one problem: during the crisis it is very difficult to find money for investments and in order to wait. Therefore, if someone profits from this, it will be whales. I think this is bad for decentralization and contrary to the ideology of cryptocurrencies. This guy has a few counter arguments to your hypothesis... https://www.marketwatch.com/story/why-its-not-so-crazy-that-stocks-are-rising-even-though-26-million-people-are-out-of-work-2020-04-23People who generally invest in the stock market still have their jobs. They are still contributing to their 401(k)s, which is creating buying.
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WARNING: DO NOT TRY THIS AT HOME
A friend of mine consolidated all his UTXO's in one and DELIBERATELY destroyed two words in his seeds.
So he's locked out from his funds, until a decent computing power comes at his hands (some time in the future required).
AND in any case cannot spend the coins overnight.
That sounds insane. I'd tend to think if someone has that little self control then they shouldn't be in this space at all. |
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Like-minded oppressed peoples are likely to communicate and coordinate? Who woulda thunk it? Sorry, you lost all credibility with the use of the term 'gun nut'. I mean, if it walks and talks like a duck... https://news.yahoo.com/us-lockdown-facebook-groups-opposing-092805078.htmlThe Dorr brothers manage a slew of pro-gun groups across a wide range of states, from Iowa to Minnesota to New York, and seek primarily to discredit organizations such as the National Rifle Association as being too compromising on gun safety.
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So driving my gas guzzling supercar at 130mph is a patriotic duty?
Next up, a gov't subsidy check so I can put a 440hp engine in my '78 Nova. But, being the gov't, they'll disallow any necessary transmission upgrades. |
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Almost forgot to ask, Those of you who are in US, which platform you use to buy bitcoin using Bank? A friend of mine wants to buy bitcoin and he is looking for a better platform which has less fees for Bank transfer.
Most of the usual suspects, Coinbase, Kraken, River, etc. the ones that are based in US are fine. The issue your friend will run into is more often that banks don't want to be linked to a crypto exchange so you need to make sure the bank is ok with whatever exchange you settle on. Fees I don't know. |
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That's a Nepalese flying donkey. It is in fact carrying the soldier who has just has his legs blown off by a landmine.
The highly intelligent flying donkeys helped people much in the way dolphins shielded people from sharks.
I'm concerned that the donkey is not allowed to wonder. Seems a bit draconian in the mind control department. |
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1958 Algerian war.. and donkey was dying from the starvation so soldier rescuing him. Very interesting story indeed: https://www.snopes.com/fact-check/soldier-carrying-donkey/Nineteen fifty-eight proved a very successful year for the Legion in another respect — it was awarded a Certificate of Merit for Distinguished Service by the American Society for the Prevention of Cruelty to Animals and a similar recognition from the RSPCA in London, after a legionnaire of the 13e DBLE [13th Demi-Brigade of the Foreign Legion] rescued a starving donkey and returned it to his base where, renamed Bambi, it served the unit as a mascot. Interest was pricked among the “Anglo-Saxons” after London’s Daily Mail carried a photo of the donkey being carried on the back of a legionnaire. Attempts to award the Certificate of Merit to the generous legionnaire foundered upon [his maintaining anonymity]. However, the Chief Secretary of the RSPCA was informed by the Legion that numerous mascots, “running from the bear to the lizard, passing through monkeys, sand foxes, storks and other birds, hedgehogs, without forgetting of course the multitude of dogs and cats [that] follow each unit in its movements. In certain [units], the number of animals is greater than the strength in manpower.” Especially gratifying was the knowledge that Bambi “at the present time is enjoying an enviable destiny and that he is sharing the life of our legionnaires and even … their beer.” Would be great to see a picture of those animals following the units. While the point of the mis-captioned picture is still true I think, it would carry a lot more weight if the story had been true. Thanks for sharing that, I guess I'm part of the fake news problem, lol. |
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Watched What we do in the Shadows (the movie, tv show is good as well) again yesterday, if you haven't seen it its a must.  Season 2 of What we do in the Shadows is out, hilarious just as good as first season. Matt Berry is a national treasure. What nation I'm not sure at this point but definitely national of some kind. If you like real weird then check out his series Snuff Box. |
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I don't want to trust anyone slipping a private key inside my object.
That’s what _she_ said. You need to explain to her that it's far more hygienic than using a public key. |
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Interesting take from a real estate point of view, targeted at newbs... https://www.hawaiilife.com/blog/bitcoin-hawaii-real-estate-transactions-crypto-skinnyImagine if there were a public ledger across the islands of Hawaii that contained a record of every property transaction since the Great Mahele that could be easily verified by any individual person, and whose validity would be policed and enforced cryptographically by hundreds of individual nodes running on a peer to peer network.
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10 merits for bkbirge and 10 merits for V8s!
Awesome! Can't wait to see that snowfall of XhomerX's hats! |
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I would argue that fiat currencies aren't even 'just paper' at this point, they are all 0's and 1's in the unlimited intraday lending banking accounts. Can't even start a proper fire to heat that can of beans in your new home under the bridge down by the river with that. https://seekingalpha.com/article/4338036-fed-stimulus-likely-to-send-bitcoin-much-higherWhat will happen when people realize a gallon of milk costs twice as much in 2022 than it did in 2020, or that a loaf of bread costs $10 and not $5 a couple of years down the road? These are crude examples, but people all around the globe may start to realize that their fiat currencies are not as dependable as they once thought and are essentially just paper.
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It just goes to show how incredibly hard it is to be a hodler and how few can do it.
It sounds easy, but in practice, only a person who sees more bitcoin as the goal rather than more fiat can do it.
Taking profits means getting more bitcoin, anyone thinking the other way will not make it to the holy land. There are many more tests ahead.
I don't know about the rest of the WO, but I can't sleep if I have fiat, it's too risky.
Love that point of view. I simultaneously cringe and rejoice when it goes down, watching my holdings in red and buying more. Same when it goes up because I can buy less for same amount of fiat. I've been practicing disciplined DCA'ing though to combat my natural FOMO temptations on either side of the rise/fall curve. |
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