Cryptocurrency

[Taylor]

Regarding the US Dollar, where did the government acquire the trillions for the stimulus packages over the past year with plenty more on the way? Inflation is well over 10%,

Immediately forgot everything you said after that gem.

No idea where you reside, if it is in the US it has got to be under a rock. Head for Home Depot, building materials up on average 70%, the gas pumps, up over 35% and go price used cars and trucks up 10% in April alone just for starters. This cannot be all down to supply and demand. Then there are the individuals, like the poster before you, who believes in all government statistics, be it inflation or unemployment figures, you name it. Governments well proven to be pathological liars in just about all aspects of our lives.   

So printing (done digitally now)  trillions of dollars from fresh air will have no consequences in the future when it comes to inflation? It already has. Also the global warming/climate change hoax has already inflated gas prices massively due to a presidential action last January.

Staying with "climate change" for a minute, an influencer, by uttering a few words on the bases of the hoax had the price of BTC drop 9K in less than one hour, bring the altcoins down with it. Remember the same influencer moved the worthless (at the moment) Dogecoin in the opposite direction. A couple of weeks later the Chinese government made a statement that they are restricting institutions from buying cryptocurrencies and curtailing BTC mining in the best interest of the hoax. All done purposely to scare the gullible public and manipulate the market.

Answer the question, where does the US government get the trillions to throw around like confetti at a wedding?  Don't bother telling me your opinion on the real rate of inflation, it's obvious you believe the lie.

Sorry Seamus.

What??

[trailer]

The bloodbath continues. Would someone please buy the f**king dip.

[smelmoth]

I am not saying there isn't or won't be international acceptance of cryptocurrencies. I merely point out that its wrong to say that there is not international acceptance or some Fiat currencies.

Fair enough

Really? You think businesses routinely hold cash and hold it in a range of currencies? Would forwards not be the more routine approach of 90%+ of businesses involved in import/export/international settlement?

Of course they do. Go look at annual accounts of any big business, they'll have millions, if not billions available in free cash. That doesn't stop them being leveraged - but they need cash to operate

The foundational value of any given crypto is zero.

Think of the set of circumstances that would be required for USD, Euro, Sterling, or Yen to fall 50% (interest rates in the host economy, inflation rate in the host economy, demand for and supply of that currency etc). Demand for any one of them is not going to collapse in that period but should it happen it would be visible.

Rewind to the first lockdown. If the shelves in the shops had went bare of food, you'd pretty quickly have seen just how thin that facade you think is a buttress actually is.

With few exceptions business' try to minimise their cash holding. What is the evidence that they hold it deliberately, hold a range of currencies and hold them specifically to hedge against forex movements?

Businesses don't like non-earning assets. Cash is non earning. Holding it to mitigate a risk makes no sense when there are other more resource efficient ways of managing that risk.

You are going to need to flesh out your last point for me to respond

[smelmoth]

Regarding the US Dollar, where did the government acquire the trillions for the stimulus packages over the past year with plenty more on the way? Inflation is well over 10%,

Immediately forgot everything you said after that gem.

No idea where you reside, if it is in the US it has got to be under a rock. Head for Home Depot, building materials up on average 70%, the gas pumps, up over 35% and go price used cars and trucks up 10% in April alone just for starters. This cannot be all down to supply and demand. Then there are the individuals, like the poster before you, who believes in all government statistics, be it inflation or unemployment figures, you name it. Governments well proven to be pathological liars in just about all aspects of our lives.   

So printing (done digitally now)  trillions of dollars from fresh air will have no consequences in the future when it comes to inflation? It already has. Also the global warming/climate change hoax has already inflated gas prices massively due to a presidential action last January.

Staying with "climate change" for a minute, an influencer, by uttering a few words on the bases of the hoax had the price of BTC drop 9K in less than one hour, bring the altcoins down with it. Remember the same influencer moved the worthless (at the moment) Dogecoin in the opposite direction. A couple of weeks later the Chinese government made a statement that they are restricting institutions from buying cryptocurrencies and curtailing BTC mining in the best interest of the hoax. All done purposely to scare the gullible public and manipulate the market.

Answer the question, where does the US government get the trillions to throw around like confetti at a wedding?  Don't bother telling me your opinion on the real rate of inflation, it's obvious you believe the lie.

Another Angelo that needs ignored

[RadioGAAGAA]

With few exceptions business' try to minimise their cash holding. What is the evidence that they hold it deliberately, hold a range of currencies and hold them specifically to hedge against forex movements?

Businesses don't like non-earning assets. Cash is non earning. Holding it to mitigate a risk makes no sense when there are other more resource efficient ways of managing that risk.

I'm not talking about national businesses - I'm talking international with significant overheads. They need money available to service suppliers and absorb bumps. It's not sitting idle, its constantly being used and replenished.

Perhaps I'm biased by my field, in which there are massive R&D and fixed cost overheads as well as dealing with significant unknowns at a regular basis, but businesses without reasonable liquidity are constantly skirting disaster. Yeah, it may look good on a few quarter's returns - but I wouldn't necessarily regard that as well run.

You are going to need to flesh out your last point for me to respond

Pretty obvious. If the shelves are empty in the shops - how are you going to feed yourself and your family with your paper note with exactly the same foundational value as any cryptocurrency? You can eat neither.

[toby47]

Seeing a lot of stuff about 'Vechain'

Is it worth putting a bit of money into?

I know very little about crypto.

[Taylor]

Seeing a lot of stuff about 'Vechain'

Is it worth putting a bit of money into?

I know very little about crypto.

Yes Vechain along with Cardano

[RadioGAAGAA]

Seeing a lot of stuff about 'Vechain'

Is it worth putting a bit of money into?

As Smeloth says - its not worth anything* - only what the hype train makes of it.

If you think your in the first few stops of the hype train's journey, by all means. If you think the hype train is nearing its final destination - best left alone.

*unless you've solid evidence big businesses are starting to migrate to it. Which they won't because it will be too unstable otherwise the hype train wouldn't be interested!

[smelmoth]

With few exceptions business' try to minimise their cash holding. What is the evidence that they hold it deliberately, hold a range of currencies and hold them specifically to hedge against forex movements?

Businesses don't like non-earning assets. Cash is non earning. Holding it to mitigate a risk makes no sense when there are other more resource efficient ways of managing that risk.

I'm not talking about national businesses - I'm talking international with significant overheads. They need money available to service suppliers and absorb bumps. It's not sitting idle, its constantly being used and replenished.

Perhaps I'm biased by my field, in which there are massive R&D and fixed cost overheads as well as dealing with significant unknowns at a regular basis, but businesses without reasonable liquidity are constantly skirting disaster. Yeah, it may look good on a few quarter's returns - but I wouldn't necessarily regard that as well run.

You are going to need to flesh out your last point for me to respond

Pretty obvious. If the shelves are empty in the shops - how are you going to feed yourself and your family with your paper note with exactly the same foundational value as any cryptocurrency? You can eat neither.

Well you will be the expert in your own field but in terms of large international businesses generally as a rule they try to minimise cash holdings. You don't need dead cash to do any of the things you mention. You need liquid availability. The latter is what businesses do.

Many will have zero cash on the balance sheet and the rest tend to only have the that which they can't avoid holding. But basically they are trying to minimise that holding.

As for your last point I genuinely thought you were going to make some point in favour of crypto. Instead all we got was that if a thing that didn't happen had of happened then crypto would have been no better than money at buying a thing because the thing didn't exist.

I don't want to be harsh but it's a very weak point

[Itchy]

What do ye think of this thread

https://twitter.com/CroissantEth/status/1399828507849527298?s=1005

I was wondering musks game was but is this it or a bit far fetched?

[trailer]

Some fall in Crypto lately. I do now doubt if any of the technology has any use. Bitcoin is the barometer. If it all falls all the other Alt and Shit coins fall as well. Nothing has a proper value and most likely nothing has a real world use. Dogecoin a perfect example. It's going to zero.

[5times5times]

Mugs game...

Bought BTC when at £47,183, then £45,830, then £39,347

Now down to £21,459.. Good job was only pocket change

[Taylor]

Had some XRP - lost over half investment 

[trailer]

Had some XRP - lost over half investment 

My XRP is still up. But I should've sold.
Bitcoin is down about half, I got in in Dec 2020 and kept buying until a few weeks ago.
ADA - is down about 1/4.

So fun times. 

[clarshack]

Had some XRP - lost over half investment 

I'm still up in XRP but I never took any profits when it was near $2 which I kind of regret. It's easy to buy low but knowing when to sell is a lot more difficult due to fomo.
I'm not worried as it will get over $2 and beyond whenever the SEC case is settled and then I'll definitely be selling.