The fixed supply is hugely problematic for it to be used as a widespread currency.
It creates a zero sum game which defies economic law.
it does not allow for growth.
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How’s the stock market?
- Thread starter lagunaboy
- Start date
It creates a zero sum game which defies economic law.
it does not allow for growth.
Since bitcoin are divisible into eight significant decimal digits (one-one hundred millionth) which can easily be increased, there's plenty of room for 'growth'. It all depends on demand.
I can see pump and dump schemes the likes of which have never been seen before.
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In Summer '11 when Boehner and McTurtle wanted to play debt ceiling games with Obama, I suggested a Swiss Franc ETF to my friends for a short term trade. It worked. The money wasn't big but it was oh so easy.
But too much appreciation of their currency, the Singapore Dollar, or even something less boutique like the Pound results in their central banks doing something about it, by dint of pegging the value to another currency like the Euro in the Swiss Franc's case, or just printing more.
Bitcoin doesn't have that issue. There isn't a central bank/government worried about what Bitcoin's appreciation will have on the price of the goods they export, or their trade (im)balance, etc.
There are probably other cryptos that would work better in terms of actual e-currency as worldwide currency of choice. Speed, that kind of thing. Ripple is good at this, however more Ripple can be released.
You’re just dividing the same sized pie.
In a functional economic system the pie itself grows (and sometimes shrinks). Bitcoin doesn’t allow for that.
Reminds me of this joke...
Guy orders a medium pizza. Pizza maker asks if he wants it cut into 8 slices or 16 slices. Guy says, “8 slices please. I’m not hungry enough to eat 16.
Are you down for this Lambotastic moonshot of red-pilled glory, or do you want to talk sh!t about your feeble, tens-digits-only Boomer & Bores gains in Ben Shapiro's youtube comments with other Boomers while he drones on and on about how nobody ever wanted to have casual sex with him?Should I be putting on my bitcoin miners helmet?
It is no longer profitable to be a small miner.Should I be putting on my bitcoin miners helmet?
Bitcoin farm in Iceland, where power is super cheap and renewable, and weather keeps the hardware cool.
No, only crypto-adjacent normies like you are asking these questions. In December 2017, my boss and I were trying to talk people out of using their home equity line of credit to finance bitcoin speculation.
Ya, I know, that personal mining time is long past. Just being facetious. The amount of energy it takes cost more than what you end up mining. Kind of like gold on a larger scale if you don't have your sh*t together on overhead. But, there's still gold in the ground to be had new.It is no longer profitable to be a small miner.
Bitcoin farm in Iceland, where power is super cheap and renewable, and weather keeps the hardware cool.
I have only a bit of crypto knowledge, but I remember way back about 10 years ago we had a client that wanted us to design some circuit boards for a bitcoin mining play. Not sure how they worked out? They may be millionaires now, cashed out back in 2017?
But who knows? Some say bitcoin $500,000 by 2030?
We know past performance has no guarantee on future prospects. GO FOR IT.
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CEOs, leading shareholders and other senior executives are rushing to take chips off the table.
So-called insiders have dumped more than $50 billion worth of shares since the start of May, according to TrimTabs Investment Research. August is on track to be the third month of the past four where insider selling exceeded $15 billion, TrimTabs said. Insider selling is at a pace unseen since 2006.
The pace of insider selling could be a warning sign for the booming market because insiders, by definition, are privy to more information about the true health of their companies than average investors. And if they were confident in the market rally, insiders would be unlikely to sell now. Yet many are heading for the exits just as markets make new milestones.
"If you're an executive and you see a challenging economic environment, the market is giving you a gift with this sharp rebound," said Peter Boockvar, chief investment officer at Bleakley Advisory Group. "Insiders apparently are thinking this is a time to exercise options."
Other investors have been piling into the market. The CNN Business Fear & Greed Index is solidly in "greed" territory and some valuation metrics of the S&P 500 are well above historical norms.
"Sentiment is very giddy. Valuations are inflated. But that can stay that way for some time," said Boockvar.
'The market doesn't care'
Few could have imagined just how quickly the markets would recover from a pandemic that caused mass unemployment and a wave of corporate bankruptcies.
If the S&P 500 closes above 3,386.15, it would represent the benchmark index's first record high since February. By some definitions, that would mark the end of the bear market, making it the shortest in history, according to S&P Dow Jones Indices.
"Insiders may be looking at stocks and saying, 'The market has gotten way ahead of itself," said Marc Chaikin, founder of Chaikin Analytics, a quantitative investment research firm based in Philadelphia.
Yet those concerns among insiders don't alter the driving force of the market rally: easy money from the Federal Reserve.
"The market doesn't care. It's a Fed-induced, liquidity-driven market," said Chaikin. "Money has nowhere to go."
By slashing interest rates to zero and gobbling up trillions of dollars of bonds, the Fed has essentially forced investors to bet on risky stocks. And they have.
Chaikin said insider selling has been heavy at two companies he's very bullish on: biotech giant Regeneron and chip maker Nvidia, each of which have seen their share prices skyrocket this year. But Chaikin is unfazed.
"That doesn't really tell me anything. In a momentum market, insider selling is not a yellow flag," he said.
So-called insiders have dumped more than $50 billion worth of shares since the start of May, according to TrimTabs Investment Research. August is on track to be the third month of the past four where insider selling exceeded $15 billion, TrimTabs said. Insider selling is at a pace unseen since 2006.
The pace of insider selling could be a warning sign for the booming market because insiders, by definition, are privy to more information about the true health of their companies than average investors. And if they were confident in the market rally, insiders would be unlikely to sell now. Yet many are heading for the exits just as markets make new milestones.
"If you're an executive and you see a challenging economic environment, the market is giving you a gift with this sharp rebound," said Peter Boockvar, chief investment officer at Bleakley Advisory Group. "Insiders apparently are thinking this is a time to exercise options."
Other investors have been piling into the market. The CNN Business Fear & Greed Index is solidly in "greed" territory and some valuation metrics of the S&P 500 are well above historical norms.
"Sentiment is very giddy. Valuations are inflated. But that can stay that way for some time," said Boockvar.
'The market doesn't care'
Few could have imagined just how quickly the markets would recover from a pandemic that caused mass unemployment and a wave of corporate bankruptcies.
If the S&P 500 closes above 3,386.15, it would represent the benchmark index's first record high since February. By some definitions, that would mark the end of the bear market, making it the shortest in history, according to S&P Dow Jones Indices.
"Insiders may be looking at stocks and saying, 'The market has gotten way ahead of itself," said Marc Chaikin, founder of Chaikin Analytics, a quantitative investment research firm based in Philadelphia.
Yet those concerns among insiders don't alter the driving force of the market rally: easy money from the Federal Reserve.
"The market doesn't care. It's a Fed-induced, liquidity-driven market," said Chaikin. "Money has nowhere to go."
By slashing interest rates to zero and gobbling up trillions of dollars of bonds, the Fed has essentially forced investors to bet on risky stocks. And they have.
Chaikin said insider selling has been heavy at two companies he's very bullish on: biotech giant Regeneron and chip maker Nvidia, each of which have seen their share prices skyrocket this year. But Chaikin is unfazed.
"That doesn't really tell me anything. In a momentum market, insider selling is not a yellow flag," he said.
I think Bitcoin is more of a fiduciary money, than strictly a fiat currency, but I'm not a big enough money nerd to really argue the point....probably just semantics anyway.
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The guy could use a course in economics. He's confusing product of fixed value with a means of exchange capable of variable value.