Bitcoins/Litecoins/Virtual Currencies

Jackie Treehorn

Jackie Treehorn

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Rajaah said:
I'll have some money again next Friday, if we can get a solid crash going for next weekend I'd be willing to do another big buy-in. I'm excited again.
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Biden’s plan before Congress is gonna be laid out on Thursday. I’m selling Wednesday night or Thursday morning to buy back in after.
 
Flobee

Flobee

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bitcoinmagazine.com

Asset DNA: Explaining Bitcoin’s Speculative Attack On The Dollar

The DNA that underpins bitcoin and the dollar sets these assets on diverging paths, creating incentive to borrow dollars and buy bitcoin.
bitcoinmagazine.com bitcoinmagazine.com

The entire world faces a massive economic incentive to borrow dollars, buy bitcoin and settle the debt when a sufficient amount of time has passed that the value of the bitcoin holdings and borrowed dollars have meaningfully diverged. Acting on this comes with considerable risk, and requires that an individual or entity is prepared to service the debt they take on, either for the years before the purchasing power divergence manifests, or in the event of unexpected total disaster (e.g., losing keys). That said, if the representation of reality in this article is correct, the highest and best use of a dollar of debt may simply be to buy bitcoin. Any more individuals and entities will leverage this asymmetry for personal gain into the future.

The logical conclusion of this trend is that eventually, nobody will be willing to lend dollars when they can just buy bitcoin with those dollars themselves. And once the world has reached that level of understanding of bitcoin, it’s game over — fiat currencies simply cannot withstand the economic reality that bitcoin imposes upon them.
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OU Ariakas

OU Ariakas

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Flobee

Flobee

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OU Ariakas said:
This sounds true *in theory*; however, in practice you are going to have real problems explaining how BTC can become the reserve with no guarantee of long term stability.
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No guarantees in life. Not about Bitcoin nor USD. We'll see
 
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LachiusTZ

LachiusTZ

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I'm sure the world loves paying for america's stupid fuck decisions by using dollars and would never dream of fucking us and replacing the reserve currency
 
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OU Ariakas

OU Ariakas

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Flobee said:
No guarantees in life. Not about Bitcoin nor USD. We'll see
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LachiusTZ said:
I'm sure the world loves paying for america's stupid fuck decisions by using dollars and would never dream of fucking us and replacing the reserve currency
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Guys, I understand the sentiment but you keep hedging these statements by talking about the weakness of the USD as the reserve currency with literally no supporting evidence. There is no guarantee about the USD....except that there is nothing that comes close to meeting the functional requirements of replacing it for the world reserve. Sure, there are probably hundreds of countries that would like to see the USD replaced but there is nothing now or in the foreseeable decades that can threaten its standing. We can have the conversation but it cannot be all hyperbole and conjecture.
 
LachiusTZ

LachiusTZ

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OU Ariakas said:
Guys, I understand the sentiment but you keep hedging these statements by talking about the weakness of the USD as the reserve currency with literally no supporting evidence. There is no guarantee about the USD....except that there is nothing that comes close to meeting the functional requirements of replacing it for the world reserve. Sure, there are probably hundreds of countries that would like to see the USD replaced but there is nothing now or in the foreseeable decades that can threaten its standing. We can have the conversation but it cannot be all hyperbole and conjecture.
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I dunno man, go read the politics thread for the past 2 years, it's scattered in there.

The weakness is our inability to quit printing dollars, or easing, or buying up shitty vanguard securities at 115% of principle.

If you think the dollar is strong, I don't really know where to even start.
 
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OU Ariakas

OU Ariakas

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LachiusTZ said:
I dunno man, go read the politics thread for the past 2 years, it's scattered in there.

The weakness is our inability to quit printing dollars, or easing, or buying up shitty vanguard securities at 115% of principle.

If you think the dollar is strong, I don't really know where to even start.
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I think I've been pretty consistent in saying that I don't think it is strong taken on its own, I think that it is fucking ultra strong when it is compared to every single other option the world could possibly consider. So the real conversation is the relative strengths and weaknesses of those other options.
 
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Jackie Treehorn

Jackie Treehorn

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Correction, everything I’m reading now is saying Biden’s speech with Congress is Wednesday night.

Also, top of the page of Drudge today. What are the odds this doesn't affect markets by Thursday?

MSN

www.msn.com

taxes.jpg
 
TJT

TJT

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It rustles me that everything is a "tax loophole" now... when nearly all of it is just following the tax code as it exists today.
 
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OU Ariakas

OU Ariakas

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TJT said:
It rustles me that everything is a "tax loophole" now... when nearly all of it is just following the tax code as it exists today.
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"Tax Loophole" = investing money long term in US real estate/business.
 
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Rajaah

Rajaah

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Jackie Treehorn said:
Biden’s plan before Congress is gonna be laid out on Thursday. I’m selling Wednesday night or Thursday morning to buy back in after.
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This could be a large swing. If his plan isn't as bad as expected, it isn't like the market is going to jump up either. Not a lot of risk in this play, I bet.

I know you're out for swing trades instead of holding. Is there a point where you'd go "this is worth a hold" with VET and would leave something in it? Like if you can get in at .11 or something crazy like that, it could be quite a multiplier over time.

It's above my buy-in average right now so I'm considering selling today in advance of any pre-emptive selling that happens tomorrow. We'll see. Could be looking at a humongous buy-back on Friday plus more money going into it on top of that. Best case scenario my VET total doubles by next week? It's possible.
 
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Jackie Treehorn

Jackie Treehorn

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Rajaah said:
This could be a large swing. If his plan isn't as bad as expected, it isn't like the market is going to jump up either. Not a lot of risk in this play, I bet.

I know you're out for swing trades instead of holding. Is there a point where you'd go "this is worth a hold" with VET and would leave something in it? Like if you can get in at .11 or something crazy like that, it could be quite a multiplier over time.
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If I got into VET at 0.11 on a limit buy, then yeah , I'd just leave it. That's what I was actually hoping for on Sunday again, and I missed it touching 15s again. I'm up around $7k since Sunday, and I easily could have been up $15k but I didn't time the bottom very well and bought as it was rising around 4 PM PST.

I sold VET again, and I'm currently up $2k on chainlink today. I think I'll stay in Chainlink until tomorrow and sell ahead of Biden's speech (which is Wednesday night, correction to the earlier post.)
 
Flobee

Flobee

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OU Ariakas said:
Guys, I understand the sentiment but you keep hedging these statements by talking about the weakness of the USD as the reserve currency with literally no supporting evidence. There is no guarantee about the USD....except that there is nothing that comes close to meeting the functional requirements of replacing it for the world reserve. Sure, there are probably hundreds of countries that would like to see the USD replaced but there is nothing now or in the foreseeable decades that can threaten its standing. We can have the conversation but it cannot be all hyperbole and conjecture.
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If you don't see the issues then nothing I post here is going to fix that for you. You're gunna need to put the work in to understand how our current monetary system works and why it is at risk. I post stuff that touches on this concept constantly. Feel free to go back and look if you're so inclined. Things like the below are informative but if you're not tracking on the core thesis behind why the fiat system is an issue you're not going to understand. Nothing I can do to fix that for you except point out you need to do the work.

tftc.io

Shrinkflation is here, too

They want you stuck on the hamster wheel forever as they pillage the world and take away your civil liberties.
tftc.io tftc.io

I wish I could just lay it out in some digestible format for you to understand, but there are just too many moving parts. You're comfortably in the majority believing that everything is going to be fine for what its worth. We're all probably better off if you're right
 
Araysar

Loser Araysar

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Im a 100% cash right now and super excited about Bidens speech
 
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Flobee

Flobee

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Turkey's Central Bank will be holding Bitcoin. Nation states are now in play

www.bloomberg.com

Turkey Cryptocurrency Exchange Bust Spurs Move for Regulation

Turkey is planning to regulate its cryptocurrency market after two local exchanges crumbled within days.
www.bloomberg.com www.bloomberg.com

Turkey is planning to regulate its cryptocurrency market after two local exchanges crumbled within days.

The government is planning to establish a central custodian bank to eliminate counterparty risk following the collapse of the Thodex and Vebitcoin exchanges last week, according to a senior official familiar with the plans. Authorities are also pondering a capital threshold for exchanges and education requirements for executives at such firms
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