Bitcoin is still early

[jacoavlu]

???

why did u quote my answer to ur question with the same question? kinda weird tbh

it’s kinda a yes no question but I don’t know your answer

[xraygoggles]

it’s kinda a yes no question but I don’t know your answer

I mean I just gave you what I think will happen, so I'm neither.

Btw: British pound has been crashing recently. You would think bitcoin would catch a bid, if it really was the new currency of the future. Instead it continues to follow Spy. Something to keep in mind.

[MMJB LLC]

I mean I just gave you what I think will happen, so I'm neither.

Btw: British pound has been crashing recently. You would think bitcoin would catch a bid, if it really was the new currency of the future. Instead it continues to follow Spy. Something to keep in mind.

No, this is the beginning of a liquidity crisis like in 98, 08, etc. Everything is getting sold.

[MMJB LLC]

i would approach an investment in bitcoin just like anything else - accumulate via periodic investing / DCA, long term buy and hold only, as part of a diversified portfolio with a thoughtful asset allocation, keep your costs low, control your taxes as much as possible, etc

lots of folks here present a strawman argument around short term price swings and volatility, when we don’t concern ourselves with that stuff in any other part of our investments


regarding anonymity this is true, and one significant challenge that bitcoin faces. It’s
not easy to use bitcoin or most any other crypto anonymously, because most everyone is going to acquire their coins from a regulated exchange that follows strict KYC requirements. There are ways to acquire KYC free or KYC-lite coins, but it’s not exactly easy. you can gain forward anonymity with collaborative transactions like coinjoins

The volatility over the last 10 years was one of the best things going for Bitcoin.

[MMJB LLC]

Our economy has a slightly different structure than it did in 1929. Just saying.

Agreed. Our economy back in 1929 had the manufacturing base to produce our way out of a Depression. What goods are we going to export now? Probably agriculture. But people here need to eat as well. Oil may or may not be one of those things and it is all light sweet from shale which still need heavy to make anything more than maybe jet fuel. I have no idea how the US comes out the other side of this crisis.

[jacoavlu]

I mean I just gave you what I think will happen, so I'm neither.

Btw: British pound has been crashing recently. You would think bitcoin would catch a bid, if it really was the new currency of the future. Instead it continues to follow Spy. Something to keep in mind.

long term you’re “neither”, lol ok

[xraygoggles]

No, this is the beginning of a liquidity crisis like in 98, 08, etc. Everything is getting sold.

Correction: everything is getting sold EXCEPT USD. Check out DXY.

[MMJB LLC]

Sometimes I think actually showing up on time and working hard are skills. In a world filled with financial catastrophe and depression like you describe, the most important skills likely won’t be what we consider professional skills. Growing food, building things, etc.

Agreed. Its why I am trying to learn about sustainable gardening, raising chickens and goats, etc. This city mouse is trying to become a country mouse.

[MMJB LLC]

Correction: everything is getting sold EXCEPT USD. Check out DXY.

Lol...I had a feeling someone on here was going to make such a comment. What is the DXY, but just an inverse of the Euro, Yen, Pound, etc. It's called a liquidity crisis for a reason, everyone is short of dollars (or really eurodollars or synthetic dollars) and selling everything to get them. And if the dollar was truly strengthening, why does everything cost me >10% more than last year. To answer the followup reply I would expect: the US/USD is just burning down slower than Europe and Japan.
This is a truly great time to be alive (and a bit terrifying as well...lol).

[jacoavlu]

Lol...I had a feeling someone on here was going to make such a comment. What is the DXY, but just an inverse of the Euro, Yen, Pound, etc. It's called a liquidity crisis for a reason, everyone is short of dollars (or really eurodollars or synthetic dollars) and selling everything to get them. And if the dollar was truly strengthening, why does everything cost me >10% more than last year. To answer the followup reply I would expect: the US/USD is just burning down slower than Europe and Japan.
This is a truly great time to be alive (and a bit terrifying as well...lol).

so are you buying bitcoin ?

[MMJB LLC]

so are you buying bitcoin ?

Sold all crypto from Dec to end of March this year. Was my biggest holding by far. Currently no position. Other non-crypto investments in taxable and non-taxable have not really touched. Hold mostly cash except for occasional small purchases of PM. ~10% of current cash going to new kitchen to keep my wife happy. Don't have a great feel right now for what is a good investment.

[xraygoggles]

Lol...I had a feeling someone on here was going to make such a comment. What is the DXY, but just an inverse of the Euro, Yen, Pound, etc. It's called a liquidity crisis for a reason, everyone is short of dollars (or really eurodollars or synthetic dollars) and selling everything to get them. And if the dollar was truly strengthening, why does everything cost me >10% more than last year. To answer the followup reply I would expect: the US/USD is just burning down slower than Europe and Japan.
This is a truly great time to be alive (and a bit terrifying as well...lol).

Currency exchange is by definition a zero-sum game, so if one is losing value, another is gaining against it.

So yes, rn, the USD is the strongest store of value in the forex market, despite the high inflation.

Ur right tho - it is a great time to be alive (if u get paid in greenbacks) - cheaper travel to the rest of the world. London is dirt cheap rn as the pound seems to be freefalling off a precipice.

[Turf Doc]

Incredibly interesting to feel the consequences of a strong dollar. I have half a mind to stock up on yen since the exchange rate hasn’t been this strong in decades. It’s amazing how cheap everything is compared to when I first started buying clothing in Japan around 10 years ago. Definitely nice to feel like SOMETHING is cheaper for once…

[Tim]

No, this is the beginning of a liquidity crisis like in 98, 08, etc. Everything is getting sold.

Not a liquidity crisis. Credit markets are completely stable and open.
Now valuation, inflation and interest rates is a completely different discussion.

[Tim]

Incredibly interesting to feel the consequences of a strong dollar. I have half a mind to stock up on yen since the exchange rate hasn’t been this strong in decades. It’s amazing how cheap everything is compared to when I first started buying clothing in Japan around 10 years ago. Definitely nice to feel like SOMETHING is cheaper for once…

I “used to” have frequent visitors from Japan. Everyone I needed to be a good host.
Each had a long detailed shopping list of items to buy and for which person. Similar to shopping list of Christmas presents for an extended family. Luxury name brands were at the top of the list for clothing. Must buys underlined. They would read the list and translate. My job was to guide them to the item. Personal shopper! Some would spend a whole day in one upscale mall. They would have an extra suitcase or buy one to take home the loot.