Time flies so fast indeed. Yet the effects of Covid-19, this pandemic is too hard to forget especially that we experience this kind of event.
I honestly belittle Covid-19 way back it started last November 2019 for the reason that pandemics and its effect years ago before are far different from today. We already have advanced medical technologies and development today which made me think that it will not worsen as time passes by. Glad we also have the modern social media with the main media spreading the news and precautions for everyone. Even cases reached more than millions, it is still to be thanked that the mortality rate is very little but still we should need not to be care-free and still be vigilant in our surroundings.
In this pandemic, I realized that no one is above, even the greatest people, or even the greatest countries was affected and there economy is weakening. Financial Assets like Gold, Foreign Exchange Currencies, Crude Oil, even the whole cryptocurrency market was affected with that.
It's unprecedented in our lifetimes, so not understanding exactly what it means or requires to survive in a pandemic is understandable at first. You have to adapt quickly. These people who have refused to acknowledge reality are the real problem. I suppose it's only because it's not more lethal that these people can afford to be so stupid in terms of denying it exists or that it's a problem that needs to be addressed. |
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Taxless society is just a dream. How can government run a place without tax. How can they support the people's needs and do infrastructure projects. If there is no tax no projects will run.
You can't have a taxless society because you can't have an anarchistic society. There are too many people who are inherently mal-intented to rely on the good nature of large groups of people to get along without a government to mete out consequences to the bad actors. Humankind started in a state of anarchy (no government) and government evolved as a necessary part of a stable society. Without government, you wouldn't have societal stability, and you can't have government without taxes. Therefore, a taxless society isn't possible in any practical sense. |
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When someone invests this much into bitcoin, you do not expect them to say "well bitcoin doesn't look good, we took a big gamble with something risky like this" or anything like that. It is obvious that they are very much into crypto and bitcoin hence why they did something like this, it is obvious that they would basically do something as major as this only after they researched it very well too.
These people probably know more about crypto world than I do and I have been around for many years, if you are investing as large as 250 million dollars, you hire someone to check every single line of code as well, there is no way they didn't looked under every rock before they invested such a huge amount. So when these companies get in, that makes me feel a lot better.
You see the same type of actions and motivations with short sellers who take massive short positions against a stock and then very publicly list all the things wrong with the company. The reason they do this is not because they themselves believe it's true (though I'm sure that is the case), but more importantly they need everyone else to agree with them in order to profit. It's not enough to be right, you need other people to agree you're right. Same with MicroStrategy and everyone else taking positions in Bitcoin. Because there is no intrinsic value, they only profit if everyone agrees with them and pushes the price up. That's why the bitcoin maximalists are so loud. It's not about being right, it's about you believing they're right, and those two things aren't the same. |
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People do not have that much power over bitcoin as we assume, at least I hope they do not. Peter Schiff could say or not say anything they want about bitcoin and it shouldn't really hurt or help bitcoin in anyway, since it is decentralized, that means the power people have over bitcoin should not exist, it should only be equally distributed to every single person. They should have same power over the price as I do or you do.
When people do end up with money in your pockets which makes you get heard more, that is the same injustice we had in the fiat world as well, what would be next? CZ coming out and changing something about how crypto world works? Just because he is a big name in bitcoin world? We should never give man power, because they will always abuse it. Ignore peter and move on.
People invariably have the power to sway other people, which is why you have so many people on both sides screaming about bitcoin going to the moon or going to zero. Both sides are motivated by economic interests, the people on one side are hoping to get rich off bitcoin while the other side is hoping for it not to disrupt traditional models that would impact their livelihoods. |
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First of all, I want to show my amazement because Austria got a School of Economics and Cryptocurrency . What a big word! It gives me an obvious sign that such country fully embraced the new tech already. I am jealous on how their government welcome cryptocurrency. I hope all countries will follow them in the near future. Anyway, I like the concept of adding topics about crypto in the curriculum of younger generations today. Here in our country, we finally adapted the K-12 program which most countries along the SEA region implemented before already. This helps the younger students to cover now what they will study in college. Thus they can have plenty of time to choose a specialty (cryptocurrency in this case) when they already reach collegiate level. Nice  . Lol, the austrian school of economics doesn't have anything to do with Austria anymore. It's an economic worldview that originated with Austrian economists and is a competing theory to Keynesian economics, which is the dominant theory with modern economists. |
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Before Bitcoin reached the all-time high price, I agree that crypto investors are indeed from the middle and lower class.
Because wealthy people are accustomed to profiting from investing in gold and the stocks market, consider crypto investing
to be very risky. When the crypto price hype in 2017 then everyone started to realize the potential of cryptocurrency,
after that cryptocurrency investment became for everyone.
How things changed with crypto is that those who were initially saying that stay away from crypto or it will just become worthless few years ago and now billionaires and big institutions are coming and buying it. It all started a decade ago and those who knew it will grow bought it as per their capacity and continue holding it because they believed in it and also was looking much better after 2017 when people realized that it has huge potential to grow and will be more adopted as well. And in 2020 we are seeing the same things that it is getting adopted and price will rise and bounce back too after fall. Not so much. You're over-estimating the amount of people who have become billionaires because of crypto. There may be some, but it's not commonplace. It's not even commonplace for there to be millionaires because of crypto. There are more cases of that, but those are just people who were in the right place at the right time. It's attributable to luck more than anything. People getting into crypto now trying to become millionaires are chasing a pipe dream. The law of large numbers is in play and bitcoin just can't continue its past growth rate because of it. |
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It would be better not to be happy about the increase in the BTC rate in relation to the "pieces of paper " but to be afraid of what it all might end up with. Everyone in the crypto club shouts "decentralization and anonymity are cool" and then rejoice when a semi-state or just a corporate whale buys a bunch of BTC. Are you all right? Where are your slogans about freedom decentralization and all that? Admit it, you don't care about BTC. You don't care about cryptocurrency. You only care how much it will cost tomorrow because you need to close another loan from the Bank.
It's because most people aren't into crypto for the sake of crypto, they just want the gains and bitcoin among regular folks is driven by FOMO more than anything else. The atmosphere around the sentiment breeds a cult-like mentality where if you're not a maximalist you're a hater. There's not much room for nuanced, well-thought out positions. |
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I believe employees in all countries would have this type of investment plan in a way there would be companies rendering services in which the employee would be saving 10% or more of his/her salary into retirement account. This type of investment would be tax free and I believe this is how it supposed to work in all countries. Normally, people save fiats into retirement account, and as we know that fiats are fully vulnerable to governmental manipulations which can result to fiats value depreciation/devaluation.
Bitcoin has two major advantages:
1. Privacy, in a way we can save our bitcoin unknown to theives if all creteria for safety is considered and applied.
2. Appreciative money or asset that is not at all in any form vulnerable to central authority manipulations, and completely decentralized.
Some organizations are offering this type of service now in which you can be able to save usually 10% or more of your earnings into the retirement account, some other cryptocurrencies are also offered like ether, litecoin and bitcoin cash. I believe this type of bitcoin investment plan lacks privacy, but I think it is cool as the fiat paid lacks privacy already but the main advantage is that bitcoin being a deflationary currency will be best for this kind of account unlike fiats that will still depreciate over long time period, bitcoin will only appreciate (increase in price over a long time period.
What do you people think about bitcoin retirement accounts?
Although, we should still remember that bitcoin is meant to be a privacy coin, not your private key not your bitcoin.
On 1, privacy isn't really that big of selling point. It's not like thieves have access to your wealth currently to the point where bitcoin would protect you. I don't see what benefit you're trying to say that bitcoin provides in this instance from thieves. On 2, money that appreciates in value may be good for savers, but it's bad for the overall economy because it depresses economic activity compared to inflationary money. Governments are pretty much in existence these days to promote societal stability and the way you have the most stability is a good economy, which a deflationary currency will not promote well. |
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2021 not Looking good!
Only things what could be good are Bitcoin and cryptocurrency
Other things dont look good!
The economy will go lowest i Think.
Becouse there is still some countries who operating quite normal like sweden, finland but 2021 I think they have to face reality
And I dont see that Central Banks will just recklessly print money anymore just to pump Up economy I think this time they will say no more free money we dont kill the currencies with inflation
I dont belive that money printing dream anymore
And I think the Central bankers are same realistic as I am.
With the vaccine on the horizon, it's doubtful that 2021 will be worse than 2020. If things aren't already improving, we can at least see the light at the end of the tunnel and have a reasonable basis for believing that things will be improving soon. If there was no vaccine ready for distribution, then perhaps you would have a better time convincing folks that 2021 could possibly be worse. |
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This is really good. Explaining blockchain technology to youngsters is a lot easier than people older than 30 years. But the actual problem is youngsters are busy partying and they don't care about such things. A subject in the syllabus can at least make them remember something about blockchain.
This is over generalized on both the people you classify as "older" and "younger." 30 is an arbitrary cutoff and there's nothing about being over or under 30 that gives people a better understanding of blockchain. Further, you don't even need to understand the blockchain to use it. Nobody understands the mechanics of how ACH works, and yet no one cares. All that matters is that it works the way it's supposed to. Understanding blockchain isn't integral to adoption, but it doesn't hurt. |
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He's not yet on the seat. But if that's his plan then there would be no more easy money for you guys. The inflation is already given but if you can't see the sign of it right now, wait until it finally shows.
The president doesn’t set monetary policy and that won’t change under Biden. The Fed sets monetary policy and is independent from the government so that there is no political interference. It was unprecedented to have a president attack the Fed and try to influence policy and you can expect the president to go back to observed norms now that adults are in charge of the government again. Also, the Fed has committed to near-zero interest rates through 2023, so the easy money isn’t going away soon. |
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I have been closely monitoring Grayscale flows recently. If you are a reader of my thread: Everything you wanted to know about Grayscale BTC Trust but were afraid to ask!Those flows actually shouldn’t surprise you. As I said elsewhere the correct way of looking at it is not: “Grayscale bought more Bitcoin than daily supply” as Grayscale is not buying newly mined coins. Rather they look at the 18 millions coins already mined. So the correct way of looking at it is : “Grayscale is buying coins from weak-hands whales”. Weak hands sell when the price is falling, not rising. This doesn’t fit the definition at all. People have all manner of different reasons for selling or buying, it can’t be summed up in a two dimensional way as either weak or strong hands. Profit taking is not a sign of weakness, especially as the law of big numbers kicks in more and more. Bitcoin can’t continue the pace of price acceleration, and as it slows or stops, there are better opportunities elsewhere. That’s more what I see selling as at these prices. |
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Crypto has same rules for everyone - no rules.
This is one of those things people believe to be true in theory but it’s not true in practice at all. People think bitcoin is the great equalizer. It’s not. It’s just another financial pool dominated by the rich. The undeniable way to build wealth in a capitalist society is access to capital, which bitcoin does nothing to address. It’s hasn’t equalized anything for the poor. They’re just as dominated by the rich in bitcoin as they are generally. |
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in my opinion the only threat to bitcoin is only government. wayback 2017 bitcoin is so popular in media but not as a good example of financial asset but a threat to people a big scam or a bubble. government trying to destroy this kind of digital currency
Government isn't trying to destroy bitcoin. It's not illegal, the government did not rush out regulations. They were pretty slow to even start regulating bitcoin exchanges and other financial businesses, and really it's mostly been the states that have done this, not even the federal government has attempted to regulate bitcoin to this point. It's not credible to believe that government wants to destroy bitcoin, and they've made no attempts to do so. The government has no rules about it. Even now the government has no authority in destroying bitcoin, what should it be because this world group of bitcoins cannot be destroyed with one government if it wants to. In fact, I do not think that it is clear that the adoption will gradually occur because in the future this technology will definitely be used in world governments, so still bitcoin cannot be destroyed by any group of people, even I believe there is interference from government people in moving the price of bitcoin. Definitely no governments with the ability to control the price of bitcoin just as there are no groups with the ability to control the price of bitcoin. The only thing that controls price are the market forces of how much is demanded and how much is available to buy. |
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Hence I think when you calculate your profits with inflation you are doing something wrong, because normally your money doesn't gain anything when it stands there idle, which means no matter how much you can gain, it is better.
The point isn't to calculate profits with inflation, it's to strip out the price appreciation attributable to the depreciation of the dollar so that you're comparing actual investment returns based on the purchase price of the asset vs. when you first invested. If bitcoin is worth $10k when you buy it but $50k when you sell it but the cost of everything denominated in dollars is 5x more expensive too, you haven't actually gained any additional purchasing power. Also, nobody holds significant amounts of cash for significant amounts of time, so the inflation concern of the USD is overblown. Nobody suffers near the inflation rate that's constantly quoted because any significant wealth is constantly invested and not kept in cash. |
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in my opinion the only threat to bitcoin is only government. wayback 2017 bitcoin is so popular in media but not as a good example of financial asset but a threat to people a big scam or a bubble. government trying to destroy this kind of digital currency
Government isn't trying to destroy bitcoin. It's not illegal, the government did not rush out regulations. They were pretty slow to even start regulating bitcoin exchanges and other financial businesses, and really it's mostly been the states that have done this, not even the federal government has attempted to regulate bitcoin to this point. It's not credible to believe that government wants to destroy bitcoin, and they've made no attempts to do so. |
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Gold is decoupling from bitcoin price rise and is actually doing worse than BTC for the first time since it's inception.
This happens every time Bitcoin goes on a crazy upward streak. In any short term period, you can find plenty of instances where this happens but if you zoom out you will probably find the trend largely remains intact. It's because gold is not as volatile and there's a lot more of it, and it's just not nearly the speculative vehicle Bitcoin is. It's a lot easier to move something with a significantly smaller market cap, as Bitcoin has compared to gold. As always, when you start and stop the data collection and comparison will materially affect the conclusion. |
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Indeed, us is facing economic crisis more than anyone can imagine and they are just doing the a huge amount of money printing to make everything better but they are wrong because doing that huge amount of money printing actually damaged the value of usd buy providing a huge supply and this made the market unbalanced. Unfortunately, us economic is damaged because of that. In the other hand, the most important competitor of usa, china is growing economically due to the covid. But, we must never forget that usd is one of the strongest fiat currencies. People are now looking at biden as new president to see how he is gonna mange the 2021 the save usd.
Do you have any data to back up this claim? Because I haven't seen any to suggest that the value of the USD has been much damaged or that any market is unbalanced. Hell, all the money printing hasn't even caused significant inflation like the most extreme bitcoin maximalists have claimed was going to happen. There may be damage in the future that emerges because of all this, but the case for saying that there is currently is not compelling. |
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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.
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Peter Schiff is somewhat of a hack. His schtick is the "imminent collapse" of the dollar, which he's been on about for decades now. It's how he makes his own money, selling investment advice to investors who buy into that sort of thing. The reason he's anti-bitcoin is because if people believe bitcoin is a legitimate store of value against this risk he's been hyping for years, then they don't need his investment advice and his assets under management goes down. I used to be a fan of Schiff, but how constantly wrong he was has turned be against him and I don't take him seriously anymore. I wouldn't take him seriously if he was hyping bitcoin either the same McAfee's opinions are worthless. |
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