I bought some of the dip. No leverage just buy and hold for some BTC. Now I just need to wait for govt to print more currency and expand the currency supply so that I gain value over time.
Cryptocurrencies work like gold for the simple fact you can’t print it unlike fiat monetary where too much currency is printed by bad fiscal policies stealing PPP from public. So basically gold and crypto are bullish in long term.
what about ethereum, solana, shiba inu, ripple, litecoin
too many of them.
Best solution is to create your own crypto currency.
Even if bitcoin comes to Rupee 1, I wont buy.
I know a guy who created his own crypto couple of days back in the name ‘ESCN’
He spent total of 120$ for creating crypto to everything else.
Yesterdays its market cap reached around 450$ without any kind of promotion.
If money is behind a trade able entity it can be moved up and down. If you have a big inventory of the entity like in the case of crypto developer you can again control the price. In a completely unregulated market like crypto this is easily possible. If you are in crypto don’t jump in because of any fundamentals. Apart from few coins you can’t find any fundas behind anything. If you can sense what will money drive in future then you have a chance to make it big. But unless you try you are not going to find out whether your sense is right or wrong. Its all a game of perception that you need to cover within a risk management framework.
Markets doesn’t actually work like that. developers can fork and and create a new cryptocurrencies like bitcoin cash. Supply and demand determines prices. Free markets is way better than regulated ones, fiasco like GameStop can’t occur. Currently the entire crypto spaces have too much dumb money, very dumb newer inexperienced investors. All whales, bears and bulls know this and they smell blood. They know just moving few inches can get the sentiment kicking in. That’s why the big price moves.
It’s actually impossible to commit fraud like create fake coin or bad private keys or override the ledger because the entire system has been designed this way. You need a lot of computing power if you want to hack the blockchain ledger And change it. Maybe this might be possible if quantum computing evolves where qubits are more faster and efficient. but really nope in present.
If I have a lot of a particular coin I can sell it and cause a crash in price. There is no circuit freeze in the crypto market like we have here in our stock market. Hence its possible and it has happened.
Its very easy to create a coin. Then with bit of effort create an online community. Make the coin price go north. Then dump it and make profit while all others loose. This has also happened.
Really. Visit 2008 economic crash. (https://app.primevideo.com/detail?gti=amzn1.dv.gti.9aad88ab-ebd9-7ec5-56c5-3b5e65b88b05&ref_=atv_dp_share_mv&r=web). Market is a good slave and not a good master. It needs to be tamed and kept on a tight leash.
Well for a majority of them would be bullish in the long term because fiat currency supply expands lot faster while not same case with gold or cryptocurrencies unless it’s possible to hack the blockchain ledger and create multiple duplicate keys which is nearly impossible or someone found out an artificial formula and can create gold in lab at large quantities. Bitcoin was hacked several times but all failed.
These things are probably more complex and better left for economists to understand. I am no expert, but this seemed like a nice read on crypto/gold standard etc.
Gold/USD is still around the high created in Sept 2011. 10 years of nothing. Next 10 years perhaps it will grow but its certainly not 1:1 price change vs dollar supply.
There is too much hype around crypto, eventually perhaps some of it will have some mainstream use but right now most of the excitement in people is only because of its volatility - something that hinders it from being a ‘currency’.
You can ofc take a bet with small capital. Just as you can bet on a lot of other things. Trading/investing is enough for me. I would love to trade crypto in a regulated and safe manner with no risk of theft/counterparty default etc, the way we trade stocks for example. But we don’t have that here. Small sized bitcoin futures would be nice perhaps.
Happened with bitcoin too, initial creator is rumored to have lot of bitcoins. They can mine initial coins very easily before other miners but only upto a certain extent till his system can allow. Besides in general mining takes time and it gets harder and harder finding next block.
Market may crash in short term but since fiat currency base is ever expanding it wont matter much. Btw I am saying in sense crypto in relation to fiat currency. I don’t think in next 70 years we would even move in pure crypto nor gold standard ever because govts love fiat because they can tax populace via inflation i.e printing fiat currency and expanding currency base which is not possible under gold or crypto or any tangible assets.
This solely depends on algorithm. Here is where research needs to be done. I know bitcoin somewhat but can’t say about other crypto . But in general its hard because cryptocurrencies are designed this way. If you are able to create a private key which can override blockchain ledger and overwrite then you must be having the most powerful processor and computing power than all other miners in the network. watch this link cryptocurrency
Everyone knew that was coming. Because post dotcom bust greenspan lowered interest rate and created sub prime mortgage crisis which caused real estate bubble to pop and not mention stupid policies like credit default swap line which AIG had lot but didn’t have money, they knew govt is gonna step in and FED is going to print its way out. That is completely different because the currency supply is controlled by entity.
Free markets have better way of healing, boom and bust are part of natural cycle, even the soviet economist Kondratiev admitted to stalin its better. Its only meddling with it that makes things worse and worse. If you go back in time back when we had gold exchange standard back to 1921. FED reserve was created around 1913 but they weren’t meddling with economy. There was a big deflationary recession of 1921, markets came down far bottom than great depression of 1929. There was pain, people did suffer for 18 months ,in-efficient business shut down, people that had were hanging via thread defaulted but newer better business cropped up, people started build again from fresh. As a matter of fact people even forgot that and roaring 20’s came after that. It wasn’t until great depression where things were worse because FED was meddling with the economy too much instead of letting the free markets to heal.
no no understanding monetary system is very simple. start here , Episode 1 hidden secrets of money money vs currency The entire series is amazing and informative
I am saying purely from buy and hold perspective. Not trading.
fiat and gold are inversely correlated but gold won’t go to 0 but fiat always does. If you had 1 gold coin from roman era it could buy you a fine toga, handcrafted belt and sandals. Now if you had same amount of gold today in your hand you can buy a fine suit, a belt and nice shoes. This is how money works. Prices always remain same.
If you had 50 paise back in 1996 you can buy some toffee or chocolate but now in present that is hardly even worth it because overtime govt printed too much currency and the value of currency went away. IMO even beggars give a weird look if you give them 1 rupee these days
Am talking about cryptos in general and not bitcoin. Even on bitcoin around 14% is held by just 82 addresses. If some one dumps it there are no market freezes to stop the fall in an unregulated crypto market which is the point.
With open source algos it is very easy to create a crypto coin. No big deal for the tech savy.
If we see the 300 yrs of free market or negative liberalism history has repeated over and over again. The rich screw up with the free market experiments. Then they turn to govt to save them using public money because they are somehow too big to fail. The ordinary guys on the street loose while the sinful rich engage in further free market experiments.
Give me one reason why Bitcoin will be adopted as a world curreny.
Nobody knows who the founder is.
USA economy will have a might crash if dollar stops being the global currency it is now. Similar issues with other nations. Also you have issues like terror funding with cryptos. I doubt bitcoin will ever be adopted as a global currency world wide. It is likely to remain a speculative asset class.
Under free market prices will heal by itself. Even if 14% throws all their coins down there maybe crash but free markets will heal by themselves.
Its not the rich but the banking sector that’s screwing us since decades. See under gold standard people were using real money because can’t print money just like that and steal PPP via inflation. The real problem is people and the govt that does defecit spending and central banks printing too much currency.
History has showed printing money only leads to problems and ends up as hyperinflation. From roman Empire to Byzantine Empire to Weimar Germany, Hungary, Zimbabwe, Venezuela , Sri lanka (coming soon). If you look at the revolutionary war , the war was financed by continental dollars which was fiat too but govt printed too many to finance the revolutionary war and people did suffer the same effects of hyperinflation, to protect people and free from the banking institution they wrote into constitution that only gold & silver can be money for the simple fact you can’t print them.
I wrote this in other post
" Better to trust crypto than this guy. Because we have fiat currency. It created by two ways
92% of above currency supply is created in the banking system(credit) than the central bank. So most of your money is Nothing but printed piece of paper and some numbers typed in computer. That’s it.
When currency supply expands inflation rises purchasing power is stolen. When currency supply shrinks deflation happens and purchasing power returns. Unfortunately under fiscal and monetary policy govt keeps printing like idiots with ever increasing currency supply
The reason crypto and gold can be trusted well is simple fact that you can’t print it. Gold can’t be printed and so is crypto, this is why they retain value. Central banks and the banking sector fear this a lot.
Watch hidden secrets of money by mike maloney in youtube. It explains monetary policy well. "
They are there due to petrol of middle East sold in dollars and added to it most south american countries are dollarised means they use dollars. Petro currency is what they call it. But the Demise of petrodollars is long set up and might be fast with saudi arabia choosing to sell oil in yuan. (Personally I think saudi Arabia is going to get freedom like Iraq, Libya 
)
There has been speculation Chinese yuan is going to be the new reserve currency replacing dollar.
I specifically don’t think btc would be used by government as reserve but rather this starts new monetary system called as CDBC or Central bank digital currency.
Free markets have never healed itself. It always took govt hand. From East India Company to Citibank its the govt who kept it alive.
Those in power and those who have money they collude to create problems that they don’t even understand as we saw in 2008. Banks are not the only problem. Greed for the lack of a better word is bad.
No country has the gold or silver standard now. Its all fiat which means that idea is now obselete.
The point is US govt is not going to let the dollar crash by adopting a bitcoin like value less crypto. Similar case with most of the other countries.
Any crashes due to any other country doing anything is bit difficult to control for it. But it is going to control what it can control.