the market: stocks, bonds, options, whatever

[-=SS=-]

if something happens to bust the Bitcoin bubble, it's likely other cryptos will go through the same collapse

The situation reminds me of the few years just before 2008. On UK television there were always these finance adverts for loans and all sorts, hoping to get people on the hook. Then it all imploded and wiped out many people. This feels similar to me, with the overhyping of BitCoin and cryptos in general - while overlooking the true origins - I've always felt this was a push to suck as many people in and then leave them high and dry, when they implode the system again (I think it will involve pensions, housing, and probably other aspects too). It's predominantly young people with cryptos, and the older folks are hooked via pensions and mortgages; all the demographics are covered.

There's no way they're going to get people hooked to CBDC's, not unless the old system is existentially threatened first and they get buy-in from across the demographics. 'Lest we fall into chaos' - every cunt politician

 

[emkee_reinvented]

seems risky diversifying within cryptocurrencies

if something happens to bust the Bitcoin bubble, it's likely other cryptos will go through the same collapse

most of the crypto economy still keeps prices pegged to fiat (hence Tether) so, I suspect, a massive price collapse could occur without actually destroying the ecosystem because they will just adjust prices in crypto on the fly to match its new price.

all the people holding crypto as an investment, though, will be bagholders

Thought so to, would i not i d been at least 20.000 wiser. Atm.

What s the 'Bagholder' mean, your middleman ?
For now i just watch em plummet to their bottom points.
And decide ! edit only the Bitcoin plummets, rest stable.
Gold and Etherium.

 

[thujone]

The situation reminds me of the few years just before 2008. On UK television there were always these finance adverts for loans and all sorts, hoping to get people on the hook. Then it all imploded and wiped out many people. This feels similar to me, with the overhyping of BitCoin and cryptos in general - while overlooking the true origins - I've always felt this was a push to suck as many people in and then leave them high and dry, when they implode the system again (I think it will involve pensions, housing, and probably other aspects too). It's predominantly young people with cryptos, and the older folks are hooked via pensions and mortgages; all the demographics are covered.

There's no way they're going to get people hooked to CBDC's, not unless the old system is existentially threatened first and they get buy-in from across the demographics. 'Lest we fall into chaos' - every cunt politician

It isn't just cryptocurrency either, there's also been an explosion in vices of all kinds. The amount of unregulated gambling just seems to be going up up up up

speaking of CBDCs, I remember that someone from BoE had explicitly stated a while back that such a thing could fill the role currently monopolized by stable coin currencies.

I suspect governments are letting Tether exist on a long leash to gather data on the pros and cons of using that as a model for CBDCs. It would be the perfect way to introduce one, IMHO

 

[-=SS=-]

It isn't just cryptocurrency either, there's also been an explosion in vices of all kinds. The amount of unregulated gambling just seems to be going up up up up

The wheels are coming off the people and society generally, it feels that way to me. It's been a slow process but it really feels like it has accelerated since 2020. With the cost of living going up, salaries not going up, this has massive ripple effect across the whole financial system. Which leads to even more unscrupulous behaviour as greedy fucks (people and corporations) seek to maintain the previous level of opulence. Seen it once before in my life, post-2008, when all of a sudden drug dealers all bumped their prices.. "it's thuh credit crunch bruv innit"

speaking of CBDCs, I remember that someone from BoE had explicitly stated a while back that such a thing could fill the role currently monopolized by stable coin currencies.

I suspect governments are letting Tether exist on a long leash to gather data on the pros and cons of using that as a model for CBDCs. It would be the perfect way to introduce one, IMHO

The whole thing is an live fire exercise, it's so obvious. Mysterious BitCoin inventor who no one knows, in this day and age.. yeah, sure. This is why I can't get on board with it, because it is helping to dig our own grave. We're training up the system that is going to make life a living nightmare for everybody.

I do wonder if all the tech bros have actually considered that scenario. How they might feel if they have several million worth of bitcoin which they then can't transact into real world purchases because everything has gone CDBC. Assuming of course that their pile of coins doesn't get taxed out of existence at some point.

 

[thujone]

The whole thing is an live fire exercise, it's so obvious. Mysterious BitCoin inventor who no one knows, in this day and age.. yeah, sure. This is why I can't get on board with it, because it is helping to dig our own grave. We're training up the system that is going to make life a living nightmare for everybody.

I do wonder if all the tech bros have actually considered that scenario. How they might feel if they have several million worth of bitcoin which they then can't transact into real world purchases because everything has gone CDBC. Assuming of course that their pile of coins doesn't get taxed out of existence at some point.

what do you believe they are planning to do with CBDC?

i'm having a hard time seeing how or why it would be any more restrictive than the current system of fiat

TBH i think it's more likely that governments will start quietly abandoning things like KYC/AML, given the way things are going

it's not very good for governments desperate for revenue to try and stop economic activity, unless it's a power thing (i.e. actually funding terrorists)

 

[-=SS=-]

what do you believe they are planning to do with CBDC?

i'm having a hard time seeing how or why it would be any more restrictive than the current system of fiat

Really? In the current era of the 'climate emergency', rising totalitarian impulses, and all the rest? Look at the UK. They want to ban non-EV vehicle production/sales by 2030, ban gas boilers, ban wood burning stoves in 'air quality areas', and all the rest of that bullshit.

It's like the 'smart meter' power unit for your house. If it is electronic, and electronically connected to a distant control station that is not under your control, then that means the potential exists for a third-party to interfere with it i.e. if you've used too much power this month, gone 'over your Co2 quota', sorry.. you can't draw any more power until your quota is refreshed.

They have already discussed the possibility of using CBDC's like a voucher system. Again, 'you've bought too many meat products this month'.. boom, no more meat purchases for you. And because it is electronically controlled this can be easily implemented. They have also discussed the possibility of using a 'time expiry' system, so that you are forced to spend the money you own within a set period or it expires.. poof.. gone.

The de-banking of the Canadian truckers should be a clear warning of the danger of this system. Absolutely that will happen and with far greater frequency under a CBDC system. And it will be far more devastating, given that under a CBDC system you would have no backup; no physical currency means if you lose access to the digital system you are completely fucked. It is the perfect weapon for totalitarian control over an entire population.

Just look at China. That's the system in action. Digital currency, digital avatar/ID system, high-surveillance society. That's where it will end up. There's no fucking way we wouldn't slide into that, it is just too tempting for those in charge.

 

[emkee_reinvented]

They trying to get rid of paper money, btw anything on paper.
Since way before the Euro. In the Netherlands. Fuck you.
More control for ... less for the people.

The mysterious figure behind the Bitcoin creation, is said to have.
Yeh ideological meaning more equal distribution of money.
More chance for the poor.

More, not perfect by any means, shown by Billl Gates an the other weirdo,
Of Tesla, influencing the digicoins while already rich, pretty pointless.
Now governments step in.

And the buying/ selling Digis and Gold to me all feel a bit like Gambling.

 

[Electrum1]

 

[thujone]

Really? In the current era of the 'climate emergency', rising totalitarian impulses, and all the rest? Look at the UK. They want to ban non-EV vehicle production/sales by 2030, ban gas boilers, ban wood burning stoves in 'air quality areas', and all the rest of that bullshit.

Central banks are generally independent from government, so the future of fiat doesn't necessarily follow whatever politicians demand.

It's like the 'smart meter' power unit for your house. If it is electronic, and electronically connected to a distant control station that is not under your control, then that means the potential exists for a third-party to interfere with it i.e. if you've used too much power this month, gone 'over your Co2 quota', sorry.. you can't draw any more power until your quota is refreshed.

They have already discussed the possibility of using CBDC's like a voucher system. Again, 'you've bought too many meat products this month'.. boom, no more meat purchases for you. And because it is electronically controlled this can be easily implemented. They have also discussed the possibility of using a 'time expiry' system, so that you are forced to spend the money you own within a set period or it expires.. poof.. gone.

This sort of thing is an existential threat to CBDCs because if everyone is forced onto them then hey why not just use Bitcoin or some other cryptocurrency without limits?

I can't imagine already-bankrupt Western governments further sabotaging their revenue by giving people incentives to move AWAY from fiat.

This is why I think they sort of look the other way and allow gambling and legalization of weed because those are big revenue sources that the government loses out on when they're kept illegal.

The de-banking of the Canadian truckers should be a clear warning of the danger of this system. Absolutely that will happen and with far greater frequency under a CBDC system. And it will be far more devastating, given that under a CBDC system you would have no backup; no physical currency means if you lose access to the digital system you are completely fucked. It is the perfect weapon for totalitarian control over an entire population.

exactly, so that was a demonstration that they don't even need CBDCs to lock people out of their funds.

also, the banks had the option to fight it instead of roll over for the PMO, so... I might argue that a CBDC in a digital wallet is more free than having to store wealth in a bank that can arbitrarily deny you access.

 

[Electrum1]

 

[thujone]

Crazy high P/E is why I'm kind of bearish on S&P 500

People say well if your time horizon is 20-30 years then don't worry about the next 10 years but I say why the fuck would I want my wealth tied up in a loser for a decade if I can get better returns elsewhere and still buy into the S&P 500 later?

 

[thujone]

hmm

 

[Deleted member 521610]

my 401k has 5k and my total savings is 1k USD.

I am sick of being poor, so im start to plan for my future.

I planning on investing in low cost index funds aimed at a 30 year period. My salary is 36k

I hope one day i can get the fuck out of this finical hole i built myself into over the last 10 years

 

[sigmond]

Crazy high P/E is why I'm kind of bearish on S&P 500

People say well if your time horizon is 20-30 years then don't worry about the next 10 years but I say why the fuck would I want my wealth tied up in a loser for a decade if I can get better returns elsewhere and still buy into the S&P 500 later?

I feel the same way. We're are probably nearing the end of a secular bull cycle that started around the year 2012. The S&P has essentially been on a bull run since 2009, and as you mentioned trading at nearly double its historic P/E. I'll be looking at healthcare, automotives, and energy stocks and moving my miniscule IRA into bonds.

 

[Electrum1]

Convinced $ROOT delivers like 1,000% return from here

 

[-=SS=-]

my 401k has 5k and my total savings is 1k USD. I am sick of being poor, so im start to plan for my future.

I planning on investing in low cost index funds aimed at a 30 year period. My salary is 36k. I hope one day i can get the fuck out of this finical hole i built myself into over the last 10 years

Don't lose sleep over it (the investing part). Not saying you shouldn't, but there's going to be a severe correction at some point in the near future and it is inevitable. At the end of the day it's gambling, and nothing is for nothing.. the house always wins. No one should ever build their lives around gambling as a solution to their life trajectory, because a rug pull moment will completely shatter you. The only people who can get away with it are the already super wealthy, because the timeframe on returns is shorter than the inevitable correction cycle that rob the majority of their money.

We're going to see it with the pension system before long and a lot of people are going to be mighty pissed (and fucked). And there will be nothing they can do to get back decades of energy spent, while expecting a safety net at the end of their lives.

The best option is not to play. Reduce spending and consumption to bare necessities, fuck the cultural game and societal expectations, and just chill out while the system eats itself to death.

 

[alasdairm]

given inflation is somewhat inevitable - so saving cash in a shoebox under your bed is losing money - what would you say is a simple, practical alternative to investing?

alasdair

 

[ions]

You want enough cash on hand to survive 2-3 months.
Because in the looming crisis.
ATMs will no longer have cash.
Banks may no longer have a supply of cash. i.e. cash shortage.
and digital assets may freeze up.

 

[alasdairm]

how old are you @TripSitterNZ

i'm in my 50s and started thinking about retirement saving too late in life. i've been saving and investing pretty aggressively for about a decade but i wish i'd started - even small - way back when.

i'm not saying i necessarily regret it - i had experiences in my 20s and 30s i may not have otherwise had but when i think about the amount of disposable income of which i just disposed, it makes me think.

i don't know how old you are but if you're younger you have time on your side.

what's your plan?

alasdair

 

[thujone]

You want enough cash on hand to survive 2-3 months.
Because in the looming crisis.
ATMs will no longer have cash.
Banks may no longer have a supply of cash. i.e. cash shortage.
and digital assets may freeze up.

year before last the whole national network for one of canada's *two* big mobile providers was down

Rogers outage: Why a network upgrade pushed millions in Canada offline

A Canadian telecoms giant is under pressure to ensure a network crash felt nationwide doesn't happen again.

www.bbc.co.uk

ran into a lot of people freaking out trying to pay for things without cash

long queues to process the people trying to pay with cards

with cash could pay immediately

says all you need to know - cash is still king