BITCOIN

Weather Man

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Bitcoin may eventually collapse - Swedish central bank governor



  • The Bitcoin (BTC-USD) warnings are coming from far and wide following a big week that saw El Salvador legalize the crypto as legal tender. Bitcoin -0.5% to $46,087.
  • Riksbank Governor Stefan Ingves: "Private money usually collapses sooner or later. And sure, you can get rich by trading in Bitcoin, but it's comparable to trading in stamps," he warned at a banking conference in Stockholm. Earlier this year, Ingves said that cryptos as a whole are unlikely to escape regulatory oversight as their popularity grows. "When something becomes large enough, factors such as consumer interests and money laundering enter the picture."
  • Banxico Governor Alejandro Diaz de Leon: "Whoever receives Bitcoin in exchange for a good or service, we believe that [transaction] is more akin to bartering because that person is exchanging a good for a good, but not really money for a good. In our times, money has evolved to be fiat money issued by central banks. People will not want their purchasing power, their salary to go up or down 10% from one day to another. You don't want that volatility for purchasing power. In that sense, it is not a good safeguard of value."
  • Regulation coming? Don't forget the warnings from SEC Chair Gary Gensler earlier this month, who called crypto the "Wild West." It's "rife with fraud, scams, and abuse in certain applications. If we don't address these issues, I worry a lot of people will be hurt." What exactly the SEC ends up doing is yet to be determined, but the agency did go after Coinbase (NASDAQ:COIN) this week over a product called Lend, which would let users earn interest by lending digital assets. The SEC said the program securitizes crypto via interest passed on to the customer, though the Wells notice caused an uproar in the DeFi community and prompted some charged tweets from Coinbase CEO Brian Armstrong.
 

shurur

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Not sure whether this was said on SVTP or somewhere else.

Eventually all fiat currency goes to its actual value: zero.
If you get on the train at the right time and not too late, you can keep acquiring things with inflated dollars. If you stumble or are late to the party..well..no amount of hard work will get you in the economy...you are just "labor capital."

Not sure what bitcoin is to begin with, but seems like a gambler's game.
 

Weather Man

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This company ANY being reborn is kinda interesting. There are some things to like, but that shareholder dilution and having to execute perfectly are daunting.

I like the experienced management. The company comparable don't really shed a lot of light....hmmm

I think I would need a cheaper price at around $5 to think really hard and think about what would trigger an exit.

Interesting article.

 

98SVTContour98

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If you are looking to get into Crypto....this guy has been pretty spot on for the past 4 or so years. Might be worth a read if you are looking to trade.

 

Weather Man

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If you are looking to get into Crypto....this guy has been pretty spot on for the past 4 or so years. Might be worth a read if you are looking to trade.


Fair piece, the last couple of charts, pretty scary how setup for a correction we are. So much dumped liquidity propping that up.
 

98SVTContour98

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All I know is that from when I started investing to now I have about 16K in crypto and the next Bull Run is gonna be exciting :)


just-hodl-donald-trump.gif
 

1slo5ohh

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At the end of the day there will be people that get in on it and some that won't. What people choose to do with their money is theirs and theirs alone, whether you believe all this shit is just vapor or think you're going to get rich from it is for them to think. All the bullshit back and forth gets old and trying to discredit it because you don't get it or just flat out don't "understand" then fine move along. Will this be around for the long haul? Maybe. Will it go away and people be left with a few less bucks than they started with? Maybe. There's no one checking on this thread to educate themselves, and if this is the thread they're using to base financial choices then lol to them. So can we get back to day dreaming about getting rich and talking about what everyone's getting into and what we think the next run will be instead of trying to convince one side or the other what to think when we all know it does zero good lol. No one is changing anyone's mind here, you're either in it or your not...
 

Weather Man

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At the end of the day there will be people that get in on it and some that won't. What people choose to do with their money is theirs and theirs alone, whether you believe all this shit is just vapor or think you're going to get rich from it is for them to think. All the bullshit back and forth gets old and trying to discredit it because you don't get it or just flat out don't "understand" then fine move along. Will this be around for the long haul? Maybe. Will it go away and people be left with a few less bucks than they started with? Maybe. There's no one checking on this thread to educate themselves, and if this is the thread they're using to base financial choices then lol to them. So can we get back to day dreaming about getting rich and talking about what everyone's getting into and what we think the next run will be instead of trying to convince one side or the other what to think when we all know it does zero good lol. No one is changing anyone's mind here, you're either in it or your not...

If the financial landscape was static, you would maybe have a point, but it isn't.

If anyone were to only use this thread to buy or sell anything, they get what's coming to them. But maybe they will decide to dig deeper than their initial thought.

Anyways, spirited discussion is always a good thing.
 

mysticsvt

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Doesn't matter who gets any information from any place. Your crypto portfolio shouldn't be enough to hurt you if you lost it all. If you're lucky...it should just sting....ALOT.

@Weather Man You are SOOOOO dramatic like anyone investing in crypto is going to die a 1000000000 deaths. Calm Down.
 

jvandy50

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anyone in QNT? got in yesterday, nice 25% gain in a day lol

(no i don't understand it nor do i care about much besides +%)
 

Weather Man

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Doesn't matter who gets any information from any place. Your crypto portfolio shouldn't be enough to hurt you if you lost it all. If you're lucky...it should just sting....ALOT.

@Weather Man You are SOOOOO dramatic like anyone investing in crypto is going to die a 1000000000 deaths. Calm Down.

Hey! LOL, I'm looking at ANY, even I think there is a little room to run in the crypto space.

Everyone on here that has said how they are investing in crypto has had a balanced plan of attack as far as I can tell, nobody gonna croak even in worst case scenario.
 

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