481–490 of 1001 posts
Oh noes, if this starts a trend, becomes widespread, and businesses start hoarding crypto tokens instead of investing in building stuff, it could cause a great depression pretty much the same way gold hoarding caused the economy to collapse in 1929. When people, businesses and banks start hording tokens instead of investing in building and maintaining the production capacity of consumables, the ratio of value of toke…
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> I was forced to watch my government bungle a pandemic in the worst possible way and then asked to pay for it for decades. No I don’t think I will. That has very little to do with currency and everything to do with you not wanting to pay taxes. You may think that COVID response has been a catastrophic waste of money but if you'd lost your job would you have claimed the increased unemployment benefits? I suspect the…
The government forcing me to lose my job by shutting everything down and then giving me a little boost in unemployment does not make me greatful. It makes me resentful that i am forced to rely on them.
And it's not as if governments forced these shutdowns on a whim or because they felt like it. They were the result of scientific examination, and more importantly, the majority of voters were in favour of them (I think 8 out of 10 in the US in April?). In this case the government was just expressing the will of the people, whether it was your personal will or not.
Regarding the environmental concerns raised in other threads: Energy production can cause emissions, energy consumption typically does not. We should be producing energy cleanly. There is an argument that more energy consumption causes more energy production, which typically uses dirty sources. Again: we should be producing energy cleanly. We should be consuming as much green, clean, energy as possible. Bitcoin mined…
Oh noes, if this starts a trend, becomes widespread, and businesses start hoarding crypto tokens instead of investing in building stuff, it could cause a great depression pretty much the same way gold hoarding caused the economy to collapse in 1929. When people, businesses and banks start hording tokens instead of investing in building and maintaining the production capacity of consumables, the ratio of value of toke…
You have a source for that?
> When people, businesses and banks start hording tokens instead of investing in building and maintaining the production capacity of consumables
Central banks are pumping money into the economy at an incredible rate. There's no shortage of credit or liquidity anywhere.
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Cryptos are purely a speculation vessel, they don't fix many of the problems they claim to fix and add tons of problems over other currencies I'm fine with cryptos as long as they're not pitched as something they're not
Fiat currency is fundamentally more speculative IMO because the value is more based on government trust that something not man-made.
Do you mean that it would be easier for some rich person to make more money by speculating in dollars and euros than it would be to speculate in bitcoins?
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> I was forced to watch my government bungle a pandemic in the worst possible way and then asked to pay for it for decades. No I don’t think I will. That has very little to do with currency and everything to do with you not wanting to pay taxes. You may think that COVID response has been a catastrophic waste of money but if you'd lost your job would you have claimed the increased unemployment benefits? I suspect the…
The government forcing me to lose my job by shutting everything down and then giving me a little boost in unemployment does not make me greatful. It makes me resentful that i am forced to rely on them.
Bitcoin is a mystery to me. Somehow it's hailed as revolutionising the economy, by replacing currency with a worse kind of currency. It feels like this is where all the "how to get rich quick" book writers and other hustle bros went and created one giant financial pyramid, which works in quite simple way: - buy bitcoin - tell everyone around how revolutionary it is, so they buy it and what you holding increases in va…
If people thought a little beyond their personal use cases, they would understand the utility of Bitcoin/crypto for many others. The technology is a paradigm shift. The financial world is structured as it is because of its existing flaws. Bitcoin/crypto enables things that people don't know they need because they are now possible.
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The thing I've learned investing so far: never sell anything . It really only ever makes sense to sell if doing so will positively change your lifestyle, or you have no alternative. Examples of when selling might be a good idea are buying a house, retiring, going through hard times, loss of a job etc. Rebalancing is fine too, but I'd personally only bother to do that if your portfolio is massively distorted (like it…
> The thing I've learned investing so far: never sell anything. I once believed this to be a truth that I had learned. Then time moved forward, and I learned that it was not a truth. :)
I am more of a holder usually as well, unless I truly believe the price is so overvalued that it would take a lot of time before another full dip-rally cycle.