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The economics of BitCoin
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I’m more confident in crypto than fiat
A lot of the crypto bulls say that but most of them don't actually mean it
There is a raving loon on another forum who keeps ramping bitcoins. But when was the last time he actually purchased some? At 1/20th the price.
As for why the 20% crash today? Well if you look at the buy order side there isn't much demand for these coins. Last time I checked $100 million was enough to crash the price by $100 billion
Most the 2000 crypto coins wont exist in five years time. Many will continue but they will become a form of gambling. Like going to the casino. But unlike the casinos where someone bets on black he doesn't think he is a genius the crypto gamblers half of them will lose and be quiet about it half of them will win and post videos and wrote blogs about how smart and great they are.0 -
For avoidance of doubt, I am not claiming that this is an infallible prediction of where Bitcoin's price is going. Just an illustration of why a fall in price does not in itself = buying opportunity. Sometimes prices fall for a reason.0 -
But unlike the casinos where someone bets on black he doesn't think he is a genius the crypto gamblers half of them will lose and be quiet about it half of them will win and post videos and wrote blogs about how smart and great they are.
They were just lucky to be born at the right time (I'm sure we've heard that phrase before), which was late enough to be priced out of the housing market, so they speculated on bitcoin when it was cheap.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
The fact is fiat is expanding exponentiallyThe thing about chaos is, it's fair.0
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The fact is fiat is expanding exponentiallyI am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
The fact is fiat is expanding exponentially
That's not how fiat work in advanced economies like the USA UK Japan EU etc
The banks create money in the form of credit and debt. So yes credit is increasing but so is debt the two cancel each other out. This type of money is much better than using commodities as a medium of exchange.0 -
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x squared?Debt is a symptom, solve the problem.0
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enjoyyourshoes wrote: »x squared?
When I responded I just assumed it was hyperbole.I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0
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