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I wouldn't be surprised if people started selling their own bodies as NFTs as the market develops. It's a weird world we live in...
That, my friend, is called slavery. |
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It appears that the The Bitcointalk Urban Achievers Merit Scholarship Program thread is locked.
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Commodity differs from Common stock.
Thank you, I was going to point that out myself. I'm not sure if OP understands the difference or just wrote the wrong term (repeatedly) I understand the difference between commodity and common stock. I used commodity as a way to also include anything that can be speculated on like oil and soybean futures. I am sorry for the confusion that had ensued as a result. An asset in general having a price doesn't automatically mean good investment, but it doesn't automatically mean it's a bad investment either. It's simply just that solely looking at the price itself is a really bad metric to make decisions upon.
I didn't intend to imply that an asset with a high price is always bad, I just made this post to state that sometimes prices rise due to reasons other than the actual fundamentals of the actual commodity in question (e.g. hysteria or wild prices). And with crypto, who the hell knows what the real valuation should be for any of them? Your guess is as good as anyone else's. I think the crypto market is probably the best example of an efficient market, because a coin is worth exactly what the market says it's worth at any given point.
Well, I would like to disagree. In a perfectly efficient market, all information about a particular coin will be available to everyone in it. This is in stark contrast to the actual information that most coins show, which is often very scant. If crypto is an efficient market, then Bitconnect, OneCoin and all of those other scams wouldn't have got to the size they had. Well.... Bitcoin and Crypto currencies has now been around since 2009 (12 Years) ..... so if this was one of those "Dot Com" bubbles... it had to burst a long time ago.
Not every bubble lasts the same, some last for decades and others for mere hours. Also, the starting year of 2009 is not when the bubble started as it took until 2017 when Bitcoin hit $20k that the crypto industry started growing. That makes this bubble around four years old, less than the dot.com bubble. |
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I have seen this kind of argument that just because the price of a commodity is high means that it is a great investment.
To a certain extent, a high price often means that investors have faith in the fundamentals of the commodity (For example, one of the most expensive shares in the American stock market is Berkshire Hathaway, which has consistently outperformed the S&P 500 since 1965).
However, there is the potential that high prices don't actually show genuine interest in a stock, but rather frenzied speculation on a commodity that has poor fundamentals.
A prime example of this happening was at the dot com bubble in the early 2000s.
What happened was companies that were, to be frank, pretty shit had managed to get multi-billion dollar evaluations because investors believed that the internet had fundamentally changed the business landscape forever.
As a result, people quit their jobs to trade full time, media stoked up the desires of getting rich and everyone believed that this gravy train will carry on rolling on and on forever.
Then the combination of increased interest rates, the majority of the aforementioned companies burning through cash and investors becoming aware of it all lead to the technology and by extension the entire economy to collapse while a few key members making big money.
This entire situation was the very exemplar of the title as companies that had billions of dollars turned out to be worthless at the end.
Be vigilant.
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People are already attempting to set up a cult with a fucking coin.
It doesn't require spirituality or fate to make money off Bitcoin.
There ain't fate in economics, just utility.
Nothing is inevitable in this world, it can be influenced.
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To be honest, I would select Bitcoin.
Comparatively more easier to turn into cash than altcoins since there is a relatively lower chance of straight-up doing a rug pull.
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Not everything has to be a conspiracy by the banks to deface Bitcoin.
Maybe the newspaper is reporting on the incompetence of the government in allocating resources away from where it is useful.
At least it is better than some of the crypto news sites in terms of journalistic integrity.
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On the El Salvador not being able to support a miner, most countries that accept the US dollar as their currency also can't print it. They just exchange it for resources or aid...
The only difference between the US dollar and Bitcoin is that you don't require an entire energy grid to get a dollar. I swear that if North Korea comes up tomorrow and says that they would use Bitcoin at the UN, I can guarantee that this entire forum would be calling Kimmy "Our Dear Leader". |
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I wonder how many people in this thread are from El Salvador?
It seems a bit disingenuous to say that the situation in the country will be better when you live about 1000 miles away from the damn place.
Reminds me of the white saviour trope where a special thing or person will solve all the problems like magic.
El Salvador is not an example people should hold up for Bitcoin: at most, it is merely an experiment conducted by a bunch of autocrats who want to appear "hip and cool" to the Western hemisphere in order to drum up some dollars.
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Well, I am glad that these kinds of shenanigans have been revealed to the public.
Just expect some "breaking news" to out shadow this revelation soon...
Remember that the rich ain't your friends, they are just using you as a way to maintain their position.
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The fuel of the economy is the prospect of the poor becoming rich.
This desire to no longer scrounge for every cent of your survival among the dirt, but to live in a bit of comfort is what drives the constant pipeline of hopeful recruits to the squadrons of con artists, snake oil salesmen, and general rouges for their daily picking.
Gradually the hope of success drains away as every day, another scheme turns out to be filled with holes. Every day, someone they knew has fallen into the wayside once again as the crooks zoom away in their limos and Lambos with their riches.
Occasionally, there would be a scheme that aims to not merely ensnare the wallets, but also the personality of the victim.
Gradually through desperation, camaraderie, and the general breaking down of the psyche, the person is converted into a machine that constantly preaches about the wonderful qualities of the product. Gradually, the person gets insulated from any outside help and ends up in the inner sanctum, where they will be held in a constant sense of devotion to their one duty.
It ain't dollars that this economy runs on, but the dreams of the many.
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They could have used volcanic energy to reduce its dependency on foreign fossils fuels, but instead they used it to mine Bitcoin.
Talk about wasted potential.
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Im not sure how the retirees lose from more then 1 form of legal tender, thats part of what drives BTC in its usage as its not produced in any one country alone.
For a country, that is not a good thing. If you rely on a currency that is minted outside your borders, that leaves you vulnerable to foreign interference. In this situation, Bitcoin merely fulfills the role that the USD had in El Salvador's economy as a way for foreign agents (e.g the US government and Bitcoin Whales respectively) to interfere with its political stability. Basically, this country has become the Bitch of Bitcoin as it is getting fucked. |
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I wouldn't blame the retirees for protesting Bitcoin, they would be worse off for it.
Maybe the fact that the government isn't actually using Bitcoin but a fiat currency that happens to be pegged to Bitcoin, the currency requiring constant electricity in order to be usable (at least coins don't need electricity to be used) and the government already having a history of corruption makes the dream impractical at best and impossible at worst.
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Rising inflation is not a new concern for the economies but growth in prices at alarming rate and others or moving towards hyperinflation situation is matter of concern which needs to be taken care of but no what the government are busy doing is just printing more and more notes or say printing more fiat making it worthless which can be compared to piece of papers only
Just because the inflation rate has increased doesn't mean that the UK will become a doomsday dystopia with hyperinflation. An inflation rate of 2% per year is aimed for as it stimulates the economy by disincentivizing money from being idle in bank accounts without rapidly jacking up the price level beyond incomes like in the cases of Weimar Germany or Venezuela. Deflation is not always good news as if price levels constantly fall, the economy wouldn't work anymore. This is because as prices for goods and services fall, consumers are less likely to spend their currency now as they wait for prices to fall further. This fall in spending leads to a decline in money available for firms to survive. This leads to a rise in unemployment as workers are laid off, further depressing prices and resulting in a recession. |
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This is the very definition of investing: to aim to make money off it.
If you are linked to the investment in any other way than it is going to go up, that is not a good investment.
Leave emotions off the table, it is ok to cash out eventually.
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A phone can't be too good for me.
If it shoots lasers, I like it.
If the battery life is 20% longer, I like it.
It is just what people do with it that is the problem.
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