501–510 of 688 posts
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Except that during crashes like this one, what you see is everyone moving their crypto holdings to stablecoins. The intent is to wait things out and then buy back in and profit during the next cycle.
The move to stablecoins instead of cash is a reflection of major exchanges not being able to maintain banking relationships.
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SPY is up 50% since 2019 (pre covid crash). As someone partially invested in index ETFs, this worries me. Index funds aren't supposed to be nitro, they are supposed to be slow and plodding, and 10% annual is supposed to be huge. I think major indices should be nice, slow, inertial gains from ~6-7% annual, tops. Why? When at any point as an engineer or a scientist have you observed large exponential growth to be susta…
> When at any point as an engineer or a scientist have you observed large exponential growth to be sustainable in any context??? what on _earth_ do you think 6-7% a year is? that's exponential growth. > SPY is up 50% since 2019 (pre covid crash). [...] Index funds aren't supposed to be nitro, they are supposed to be slow and plodding, and 10% annual is supposed to be huge. I think major indices should be nice, slow,…
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USDC, DAI, USDT are all used more than ever, orders of magnitude more People dont have to talk about them as currencies because they just work No different than cellular reception in an underground subway, you dont have to think about it anymore
Yep, used USDC just last night to buy a new computer, just before this big crash happened, thankfully (since I converted some crypto to do it). Actually using that for its intended purpose.
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Keynesian economics got us out of the actual Great Depression as well, if you consider FDR's decision to get off the gold standard and start trading dollars as a floating currency on the market. Fixed monetary supply might be one thing in theory, but fixed credit supply is the death knell to an economy. And the two are usually complimentary. Monetary supply can fill in the potholes of weakening credit supply when the…
>That said there is certainly something that's personally appealing about an asset that's guaranteed to maintain the supply side of the equilibrium. It's appealing because it keeps politicians honest, but if you have honest politicians it is just a thought experiment.
The last 60 years on a macro level have largely proved the Keynesian model. I think we're right to put faith in politicians in general. The solution might just be holding currency from another nation instead of your own.
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This has to be one of the funniest financial things I've heard. "Uhhh, you know when your account dropped 50%? Actually that is only like 10% if you pretend it's a log scale." Unfortunately for them, USD is not on a log scale and they'll be disappointed to discover that when they try to cash out.
I'm not discussing trading here, in which case you would be absolutely right. Trading using a log chart would be absurd. I'm talking about long term positions. Cost averaging over time means you are immune to such a massive swing.
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Missed a couple of early opportunities to buy eh? Don't worry about, expending your energy is going to get you nothing. Even if it all implodes tomorrow all you can do is say "I told you so". And you may feel superior to others, but no one will care. And if it doesn't implode you are here expending energy unnecessarily, which, we have already gathered, is an activity that you don't appreciate.
Classic coiner arguments. "Have fun staying poor!" For the record I: (1) Bought during the 2017 run-up, and sold around $17,000 in early 2018, and parlayed that into various other investments that have done quite well. I've posted to that effect here in the past. (2) Shorted CME futures at $56,000, and a bunch of Coinbase and a bunch of Tesla. That's roughly $100,000 USD per contract in profit - deposited directly in…
My point is more that people who are always on the lookout to bash something they don't like usually have an underlying (often irrational) reason for disliking it. To go out of your way to expend that energy, when you do not have to.
I dislike Tik~Tok, I don't get involved in discussions about it, I don't share links to it. I dont even think about it, or the power it uses or even the harm it is doing to its users. But here you are on another thread about cryptocurrencies about to blow a blood vessel. Just an observation. Take a break from it.
As an outside observer, who has no crypto holdings at all, but is very deeply invested in the public stock market with a heavy weight on technology stocks... this doesn't look like a crash to me at all. It just looks like some steam being let off and old investors cash out and new investors get more comfortable with how much and where to invest. I consider crypto currency as it is to be an elaborate Ponzi scheme (per…
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Bitcoin & Ether are both down -40% from a week to a month ago. Both of those are, in theory, large enough that investors "letting off some steam" shouldn't move them that much. If $SPY dropped 40% we'd all call it a crash. This isn't that different. Also unlike the stock market, crypto is under the delusion of being a viable currency. If USD or Euro dropped even 20% we'd start questioning if it's a recession, much le…
It doesn't seem like anyone believes cryptos are supposed to be currencies any more. All the talk around them is around them being a new, exciting, and potentially very lucrative investment class. If you go to Coinbase's front page, you see that you can buy and sell them, like you can with Robinhood. It's not trying to be a PayPal. The currency-ness does serve an important purpose. It helps bring in investment for th…
As an outside observer, who has no crypto holdings at all, but is very deeply invested in the public stock market with a heavy weight on technology stocks... this doesn't look like a crash to me at all. It just looks like some steam being let off and old investors cash out and new investors get more comfortable with how much and where to invest. I consider crypto currency as it is to be an elaborate Ponzi scheme (per…
> I consider crypto currency as it is to be an elaborate Ponzi scheme (personal view) Off topic, but as someone with very little understanding of economics and no stake in cryptocurrency, I don't understand where "legitimate currency" ends and "Ponzi scheme" begins. I get that a Ponzi scheme is one which produces little or no value, and the majority of "earnings" are just wealth redistribution from the bottom of the…
The goldbugs believe that is insufficient as a basis and we should all go back to gold standard where it was backed by a promise of a government to give you an amount of gold (or further back, was just made out of that gold).
The crypto people believe even that is more basis than needed, and as long as people can agree it has value, and they all agree with each other that bitcoin has value, then it can be a currency.