Bitcoin

[Boomin_tahoe 5,000+ posts]

I follow the stock market. I have a vested interest due to my 401k and IRA. There are always talk about a upcoming recession especially after a significant run like we've seen the past year. Saying that I would not be surprised at all if we hit a recession in the next year or two. I'm of the opinion a healthy market should see some corrections; if nothing else a correction eases public sentiment about runaway over-valuing.
I'm young so I'm aggressively pursuing growth to hopefully mitigate any downturn. It's just too difficult to time the market, and I hopefully have 3 more decades to recoup any potential losses.

As far as most people I would be surprised if they pay close enough attention to worry about a potential downturn. A lot of my coworkers have substantial 401ks, but ~90% of them can't even answer what type of investment mix they have much less current market trends *shrug*, so yes I think a lot of people will be surprised at the next recession.

So why are things overvalued and why is there no "cap"/regulation for it to prevent what had happened in 2009 and The Great Depression?

Funny tho as we talked about this, Wall Street: Money Never Sleeps was on TV. Coincadental?!

 

[The_Quiet_One 10+ year member]

So why are things overvalued and why is there no "cap"/regulation for it to prevent what had happened in 2009 and The Great Depression?
Funny tho as we talked about this, Wall Street: Money Never Sleeps was on TV. Coincadental?!

Because global economics is essentially a game of who can have a more advantageous valuation. It gets extremely complicated very quickly. I have my opinions though.

So we have an astronomical national debt. Who holds that debt and what to we do about it? It requires a careful balancing act between keeping the dollar resilient to economic downturns while trying to pay back "less" than what we borrowed all the while keeping our domestic economy is relatively good heatlh.

Ideally we never go upside down on a dollar we borrow. It seems a popular trend is to try and "inflate the debt away". How best to do this?

1) We create a trading pair with an essential commodity. Petroleum consumption is pretty vital so we push for the petrodollar to hedge our bets and require developed nations to touch the USD at least once.

2) We allow inflation to lower the relative value of the dollar over time. If and when we pay back that dollar it will have less purchasing power than when we borrowed it.

3) We hope when shit inevitably hits the fan we drag everyone else down with us and hope any disparity in relative economies fall in our favor.

There's way more to it, but it should give you a rough idea of what I think is going on.

That's also why I'm relatively bullish on cryptos right now. We passed a critical juncture a few months ago and institutions realize they need to get control of crypto markets sooner rather than later to further maintain the status quo. I believe the rampant growth and speculation is a good way to "buy out" most early adopters on the off chance a new asset is materializing and to go ahead and bring crypto's into the fold on the off chance they don't crash and burn completely.

In my mind BTC died the day it was added to the futures market. The libertarian's dream passed away and became the financial institution's new toy. It's sad, but at least some people made decent profits. *shrug*

 

[The_Quiet_One 10+ year member]

https://www.msn.com/en-us/money/markets/bitcoin-and-other-cryptocurrencies-are-plunging-heres-what-could-happen-next/ar-BBHadP2?li=BBnbfcN

Lol, one minute your on top of the world as prices go to the moon the next your pucker factor is at an all time high as everything crashes.

Just FYI as we speak BTC is back up to 16k and other alt coins saw similar percentages as far as regaining ground. What a rollercoaster!//content.invisioncic.com/y282845/emoticons/fro.gif.c695f1f814b01c4ad99fe7f8cccadd29.gif

 

[Boomin_tahoe 5,000+ posts]

We'll always be in debt. And there's no sign of paying it back....(guess they don't wanna) Just keep borrowing amongst ourselves. Keep printing more $$ guys!!

 

[los33 10+ year member]

We'll always be in debt. And there's no sign of paying it back....(guess they don't wanna) Just keep borrowing amongst ourselves. Keep printing more $$ guys!!

If the debt was paid off then the value of usd would go down drasticly.


Sent from my SM-N950U using Tapatalk

 

[wew lad 5,000+ posts]

That's also why I'm relatively bullish on cryptos right now. We passed a critical juncture a few months ago and institutions realize they need to get control of crypto markets sooner rather than later to further maintain the status quo. I believe the rampant growth and speculation is a good way to "buy out" most early adopters on the off chance a new asset is materializing and to go ahead and bring crypto's into the fold on the off chance they don't crash and burn completely.

In my mind BTC died the day it was added to the futures market. The libertarian's dream passed away and became the financial institution's new toy. It's sad, but at least some people made decent profits. *shrug*

Could not agree more with this statement

 

[Boomin_tahoe 5,000+ posts]

If the debt was paid off then the value of usd would go down drasticly.


Sent from my SM-N950U using Tapatalk

You think so? (not being sarcastic) because that's something I haven't considered or thought upon.

 

[FraserJess]

I used some trade markets, but almost all of them had bad functionality or were doing internal machinations

Man, use Google it helps some times. In what trading are you involved? Cryptocurrency? Or maybe Forex, shares, indices? There are good platforms, even you could trade on your iPhone, but not something like Olymp Trade that uses manipulation of motorization of currencies or stocks online. Crap website I tell you! If you are looking minimum commission, strong respect for deposit and withdrawal for 0%, there is one. Also, minimum deposit without limits ctrader robots is for you. I work daily here, never thought such website will be opened for simple traders. I wanted to be trade broker, but need more experience to play games for daddies. If you have more questions you can PM!

 

[MikeofTulsa Moderator]

I use coinbase.com for my wallet.

Same

 

[SiropGud90]

I use coinbase as my wallet! Although there are many many other virtual wallets, this is the best. I mostly use litecoin bought from India cheaply, and I change it in my wallet. You say that cryptocurrency will not have value in the near future, I don't think so. Because, let's critically analyze what happens to the material currency today during the pandemic, the value is lost. We are increasingly noticing that people are using cryptocurrency because it is much easier to use and does not require real material to be created.

 

[Silesti]

I can say that almost all the time of my participation in trading on the forex market, the most favorite of the electronic payment systems from the very moment of its appearance was the Paypal wallet. Simple, reliable, fast and safe! And just recently I remembered that I have money lying idle on Webmoney! I decided to try to transfer it to a deposit. I have been working with Liteforex broker for quite a long time. They have a lot of useful things, a sufficient number of informative articles, such as this one https://www.liteforex.com/blog/for-beginners/what-is-forex/ . So try it, maybe you'll like it too.

 

[Louisiana_CRX 5,000+ posts]

Not a wise investment ....

 

[ThxOne Premium Member]

I know my XRP is WAY down right now.

 

[Brandonmays81]

You fvck s won't give me back my account.

 

[ThxOne Premium Member]

XRP is up to $2.78!! WoooHooo!!! When it hits $10,000 I will be a little more excited.