Anyone into Cryto currency?

[n25an]

Re: Anyone into Cryto currency?

bitcoin on a tear... price at $22000 plus...

[n25an]

Re: Anyone into Cryto currency?

Crypto can undermine governments and that is a big plus for the globalist. Like South-Africa it would be imposible to pay back what the IMF and China pushed in for relief. We should be feeling the economic impact of the lockdown but money is pumped in to keep the business running and the wallets full. In fact it looks like there is more being spent by the public that this time last year. Still getting relief funding to make up a 3de of my salary since March. Been having record months these last 2 months printing higher volumes than ever. Something is not adding up.

So I think many governments are now powerless and must follow ever whim of the new order. Sure we will pay but not to your local government.

lets deal with the not adding up...
what happens if a country goes against the flow... well we know what happens... the leader gets defeated in next election at best...
at worst there is an invasion... at medium they are sanctioned... but if they go along... or rather the leaders go along... they become the judas goat and lead their sheep to the slaughter and the judas goast lives to feast for another day... while they plot their exit or try to ingratiate themself for the next deal...

the video below shows the psychology behind the judas goat...

[n25an]

Re: Anyone into Cryto currency?

Crypto can undermine governments and that is a big plus for the globalist. Like South-Africa it would be imposible to pay back what the IMF and China pushed in for relief. We should be feeling the economic impact of the lockdown but money is pumped in to keep the business running and the wallets full. In fact it looks like there is more being spent by the public that this time last year. Still getting relief funding to make up a 3de of my salary since March. Been having record months these last 2 months printing higher volumes than ever. Something is not adding up.

So I think many governments are now powerless and must follow ever whim of the new order. Sure we will pay but not to your local government.

china and imf...
imf is usa said with other letters...
rock and hard place...
china... (you have a 50/50 shot of losing your shirt but you definitely have less and less say in what china does in your country... )
gives you loans... with two consequences...
1. backdoor clause... you can't pay them... they take over the property and bring in their millitary... its not an if its a when...
2. softpower grab... the lender can dictate policy in borrowers country...
imf... ( you have illusion of prosperity... but long term smaller pie for everybody...)
imf gives you loan and economic improvement plans...
1. to get the money you must get rid of all protective industry agreements and open economy to goods from other countries... as the imf dictates...
what does that mean... all native industries in borrower country die... because they have no protective tarrifs on imports... all imports are priced cheaper than local competition... and consumers only look for the better deal... in the short run consumer benefits... in the long run consumers have fewer jobs to provide income to keep buying imported goods... ok you say local industries don't die... they are bought out by foreign investment or get a hefty amount of foreign capital... can you say sweatshop... sweet in the mouth but bitter in the belly...

[allan]

Re: Anyone into Cryto currency?

in the early days of crypto when being a crypto millionaire was a new thing... it was not unheard of for the irs to show up at your door for tax evasion... or to find you at a bitcoin meetup and have a chat with you... not that I am one of those guys... far from it... but I find prevention is better than cure so I have been paying my taxes from the very beginning...

this does not rule out the idea of a retroactive taxes... its been done with silver... it could happen with crypto...
cryptos rise is within the ten years back tax collection window of the irs...
and if you think well thats an ex post facto law and is unconstitutional... lets just say the courts are slow and the taxman is fast...
and congress likes the tax man...

Crypto can undermine governments and that is a big plus for the globalist. Like South-Africa it would be imposible to pay back what the IMF and China pushed in for relief. We should be feeling the economic impact of the lockdown but money is pumped in to keep the business running and the wallets full. In fact it looks like there is more being spent by the public that this time last year. Still getting relief funding to make up a 3de of my salary since March. Been having record months these last 2 months printing higher volumes than ever. Something is not adding up.

So I think many governments are now powerless and must follow ever whim of the new order. Sure we will pay but not to your local government.

[n25an]

Re: Anyone into Cryto currency?

JBravo just did a piece on bitcoin and brought up some good points, I found #8 to be interesting as the IRS is now wanting to know how much crypto you own so you can be taxed on your earnings, I thought that was the whole allure to crypto? Avoiding Uncle Sam.

in the early days of crypto when being a crypto millionaire was a new thing... it was not unheard of for the irs to show up at your door for tax evasion... or to find you at a bitcoin meetup and have a chat with you... not that I am one of those guys... far from it... but I find prevention is better than cure so I have been paying my taxes from the very beginning...

this does not rule out the idea of a retroactive tax... its been done with silver... it could happen with crypto...
cryptos rise is within the ten years back tax collection window of the irs...
and if you think well thats an ex post facto law and is unconstitutional... lets just say the courts are slow and the taxman is fast...
and congress likes the tax man...

[copiertec]

Re: Anyone into Cryto currency?

JBravo just did a piece on bitcoin and brought up some good points, I found #8 to be interesting as the IRS is now wanting to know how much crypto you own so you can be taxed on your earnings, I thought that was the whole allure to crypto? Avoiding Uncle Sam.

[SalesServiceGuy]

Re: Anyone into Cryto currency?

right now bitcoin is either poised to go above $30000 or its going to drop back down to $10000... either way... the altcoins are going to get a dramatic change in value in the next 30 days... atleast thats my impression... so if you are into the altcoin market... and can find anything thats pretty low value and you can risk it... meaning like lunch money time... then buy and hold... but only spend what you can afford to lose... because it could all go sideways... you are literally gambling...

... you are certainly gambling but there is little chance that you will lose all of your money. Cryptos are now too well established in the world economy as an alternate currency. The old adage buy low and sell high certainly applies here.

[n25an]

Re: Anyone into Cryto currency?

right now bitcoin is either poised to go above $30000 or its going to drop back down to $10000... either way... the altcoins are going to get a dramatic change in value in the next 30 days... atleast thats my impression... so if you are into the altcoin market... and can find anything thats pretty low value and you can risk it... meaning like lunch money time... then buy and hold... but only spend what you can afford to lose... because it could all go sideways... you are literally gambling...

[SalesServiceGuy]

Re: Anyone into Cryto currency?

The last seven days have not been kind to XRP

... and going lower.

[n25an]

Re: Anyone into Cryto currency?

An analyst's chart prediction for the future of Bitcoin and XRP.

GIGANTIC RISES AHEAD for the Ripple XRP Price Chart as it Finishes Up Consolidation with Bitcoin - YouTube

... basically a big drop in Bitcoin and a sideways consolidation in XRP followed by a big rise.

thats happening with all the altcoins... not just xrp...

[SalesServiceGuy]

Re: Anyone into Cryto currency?

An analyst's chart prediction for the future of Bitcoin and XRP.

GIGANTIC RISES AHEAD for the Ripple XRP Price Chart as it Finishes Up Consolidation with Bitcoin - YouTube

... basically a big drop in Bitcoin and a sideways consolidation in XRP followed by a big rise.

[n25an]

Re: Anyone into Cryto currency?

... if you do not understand what you are buying, you should not buy it.

,,, another new concept to think about is the "velocity of money". A measurement of the rate at which money is exchanged within an economy.

One of the primary reasons that gov'ts around the world give seemingly free stimulus money to its citizens is to get printed money out of the treasury and circulating within the economy. If people are buying goods & services, the economy functions properly.

If money sits in savings accounts it is not circulating ... this gives rise to the concept of negative interest rates. If you let that money sit, hoping to gain a very low interest rate, negative interest rates will motivate you to either pay down your bills or spend it in the economy. If you let your money sit in a bank account, negative interest rates makes your balance gets smaller each month.

now lets deal with negative interest rates... and why I would still leave my money in the bank...
1. negative interest rates at this time only affect those with large sums of money...
2. it is better to keep money in the bank than under your mattress or in your home... theft and robbery being considerations
3. people still have to live and plan for the future and money in the bank still will be needed to help one build a life...
4. negative interest rates... and loans... in a negative interest rate scenario... a bank would pay you to take out a loan... let that one sink in...

in a regular economy paying down your bills and spending money in the economy is an option...
in a hyper inflated economy its a necessity...
in a sluggish economy with negative interest rates for the rich... its an option
in a sluggish economy with negative interest rates for all it depends on the interest rates...

in life its always best to be skeptical of what talking heads tell you...
if the talking heads and govt say... spend... you save...
if the talking head and govt say... save... you spend...

note: negative interest rates and quantitative easing are tools to increased confidence in the economy and create a fake sense of prosperity... those are used in an extended bust cycle or in lost decade scenario as an individual that means one should evaluate their situation... some people may be highly affected by scenarios where those tools are needed and some people may not even skip a beat... I would say don't freak out because of what the talking heads say... your economic situation could be quite different on the local level while your countries economy is crumbling at the national level...

just saying...

[n25an]

Re: Anyone into Cryto currency?

... if you do not understand what you are buying, you should not buy it.

,,, another new concept to think about is the "velocity of money". A measurement of the rate at which money is exchanged within an economy.

One of the primary reasons that gov'ts around the world give seemingly free stimulus money to its citizens is to get printed money out of the treasury and circulating within the economy. If people are buying goods & services, the economy functions properly.

If money sits in savings accounts it is not circulating ... this gives rise to the concept of negative interest rates. If you let that money sit, hoping to gain a very low interest rate, negative interest rates will motivate you to either pay down your bills or spend it in the economy. If you let your money sit in a bank account, negative interest rates makes your balance gets smaller each month.

alright... its time to give you a use case for crypto...

lets do bitcoin...

in hyper inflation.... the value of your dollar is worth, at best, less tomorrow than it was worth today...
so in a hyper inflation economy... you don't save... you try to spend your paycheck as fast as you get it...
why???? because the value of your dollar is going to be worth less tomorrow than today...
in short... you will have less buying power tomorrow than today...

one of the early cases of bitcoin was for remittances

the reason was that its pegged against the us dollar and it can be moved quickly between countries without any great special fees like those offered by western union...

so if you have relatives in a foreign country, you can send them money via bitcoin and they can trade the bitcoin for cash...
benefits are...
1. more of the cash gets there because its not eaten away in western union fees
2. bitcoin is pegged against the us dollar... and the foreign countries currency is pegged against the dollar... which means as the buying power of the foreign currency goes down... the buying power of the us dollar is going up... the bitcoin value is going up... which means you can buy more tommorrow than today with the bitcoin

thats the use case that many people in south america found for bitcoin...
Report: Use of Cryptocurrencies for Remittance Is Growing in Popularity | Featured Bitcoin News

[SalesServiceGuy]

Re: Anyone into Cryto currency?

A good guide on how and where to buy sovereign silver coins.

How & Where to Buy Silver Coins (2020 Buyers Guide) - GoldSilver.com

[allan]

Re: Anyone into Cryto currency?

If and when the excrement hits the rotary device precious metals, gem stones, non perishable foods and toilet paper are the places to be.

Well phrased.
Problem i have with the Kruger rand is its difficult to make change...

Already stockpiled dry goods and other toys on an off grid farm for the occasion.
Special place for when the poo hits the propeller.