FFVII wrote: » What signs?
JohnnyFlash wrote: » Apple produced goods and services that people wanted to buy. Bitcoin produces nothing only lols and grotesque amounts of CO2 emissions. Stupid comparison.
cnocbui wrote: » Er, current world debt is at 350% of global GDP. It's currently about US$58.28 Trillion. The 2007 GFC happened because the debt bubble burst, and that was when global debt was 'only' US$24.46 Trillion. The size and scale of the current debt bubble, thanks to endless quantitative easing and 'cheap' finance, is more than twice the size. There will shortly be mass layoffs and company bankruptcies on a terrifying scale. I doubt there is a medium to large airline on the planet that won't be insolvent inside a month. I have already withdrawn cash from the bank and will do so again until I only have an operating expenses float. It wouldn't surprise me if the Cyprus crew-cut becomes a new fashion statement. Someones got to pay for all the virus consequences, and I think I know who will be put in the frame for that.
FFVII wrote: » Where have all those trillions gone this time? They doubled the debt to cover 2007...so they double it again to cover the next one....then what happens?
cnocbui wrote: » There is a report that claims at least 70% of bitcoin mining is done using renewables and so does not result in CO2 production. You know about Iceland Geothermal and the Hydro power in China, for example?
Bob24 wrote: » Recession is pretty much a given at this stage. But how it will play out for BTC is very hard to predict.
cnocbui wrote: » Shares being a 'share' in the company is meaningless, as is the 'technical value'. You can not demand that someone purchase your share for it's fraction of the company's NAV or 'fair value' or any other metric.
Dohnjoe wrote: » Share value is calculable. If a company is calculated to be worth around X, then a 100th share of that is X/100. You can literally look at their balance sheet for this. The values of most cryptos are not calculable. They are not the same types of instruments at all.
grindle wrote: » Calculable to an extent, P/E ratios vary wildly and made no sense with Apple or Facebook for the first 5-ish years of the bullruns those companies had this century, just hopes and dreams promised for the future. Most cryptos are abysmal shítcoins, others are oil-alikes except without a monarchy setting prices at a whim. Everybody beyond moonbois should actually want the prices to bottom out as low as they can possibly go because then we all have a good picture of what utility means to the price of [whichevercrypto]
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Stewball wrote: » Lads, sorry for hijacking the thread but I got a question and this seems the busiest thread. I set up an account with Kraken. I've being trying to get verified for an intermediate account and there was an issue with my ID and I got an email from them saying this: Is this the norm? Sounds a bit strange to me.
JohnnyFlash wrote: » Bitcoin produces grotesque amounts of CO2 emissions.
unkel wrote: » To put it in the most diplomatic way I can - you're not building up any credibility here. Take from that what you will.
makeorbrake wrote: » As the QE cranks up, it will represent a great opportunity for people to examine what hard money is. When gold goes up, bitcoin will also.
Bob24 wrote: » That’s the theory yes and I agree with it, but let’s say how it plays out in practice.
Bob24 wrote: » Gold only took fairly small hit in the last couple of days as traders had to sell the last strong asset they had to cover there massive losses. But it is minor and it will recover.
Bob24 wrote: » Bitcoin however completely tanked. This kind of broke the safe heaven argument for now.
Bob24 wrote: » Doesn’t mean I don’t think Bitcoin has a future, but this clearly showed that gold still is king in terms of hard money and Bitcoin still needs to prove itself.
makeorbrake wrote: » Agreed...acid test awaits. It still closed 9% down over the course of the week. I'm not so sure it has if we are still treating gold as a safe haven. If there's a sell off of bitcoin, its logical to me that it will run down faster than a sell off on gold. Gold was just shy of 10% down. It dropped 30% at the outset of the 2008 financial crisis. To me, it seems they're acting in the same way - just to different levels of intensity. As regards the use of the phrase 'hard money', that's another matter. It could be that you're right insofar as bitcoin isn't a safe haven against pandemic induced firesales but that it is a hedge against FIAT-based and QE-induced inflation. We're only at the end of the beginning here. Watch this space.
JJJJNR wrote: » It's not over till the fat lady sings. Even if the price of bitcoin and other cryptocurrencies are tanking it's under the holders control if they as weak hands want to sell. We are at the early stage of this corona virus and it's still to early to predict if there will be a run on the banks so belittle people all you want look at the signs they are there, mocking is catching as my mother used to say... the banking and social system is being held together with chewing gum at the moment.
rapul wrote: » Some good prices to be buying now, wonder how much lower, been holding off for a while now! And I had to do that with binance when signing up aswell the photo id and piece of paper and all
machiavellianme wrote: » Sub 100 euro ETH. My portfolio is now less than 1/3 of what I paid in. No point selling now but I certainly can't justify buying. If crypto is going to swing harder than all other stocks etc at every time there's trouble it has no purpose other than casual gambling.
