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End of Dollar being moved along much quicker?


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End of Dollar being moved along much quicker?

Old 09-01-2022, 05:53 AM
  #51  
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Originally Posted by MaxQ
Thanks for the point-by-point answers Rick.

They are in line with what I thought.
As an outsider looking on, it seems a rather unstable place to park personal wealth. (unless, as you say, the point is to hide ones wealth)
It strikes me as having some similarities to a chain letter, where at some point someone is left holding the proverbial bag. Also, as it creates money from nothing, it has to be extractive/parasitic. If that is indeed the case, it is ultimately harmful to a country and its economy.
Paper gains are nothing. Eventually the bubble pops, and the losers are just the gamblers who made the wrong bet at the wrong time.

But yeah if crypto went mainstream, at elevated values, then yes that real value has to come from somewhere.

But right now you acquire it in one of three ways...
1. Buy it with real currency
2. Provide goods or services and get paid in crypto
3. Mine it

So it does have some real value, at the very least the cost to mine it which is well over $10k assuming you have the most efficient hardware and can access cheap electricity. And again, it does have an additional value premium in opacity to some people... if nothing else tax evaders are saving 30% by using crypto.


As an aside the dollar is up... to the point that I know people buying vacay/retirement homes in Europe right now. Apparently the reports of it's demise are once again premature. Guess the global finance system isn't flocking to rubles or yuan just yet
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Old 09-01-2022, 05:58 AM
  #52  
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I see crypto similar to precocious metals. Not really a true "investment" but more like a commodity where you don't keep more than 5% of them as your total portfolio.
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Old 09-01-2022, 04:30 PM
  #53  
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Originally Posted by rickair7777
Paper gains are nothing. Eventually the bubble pops, and the losers are just the gamblers who made the wrong bet at the wrong time.

But yeah if crypto went mainstream, at elevated values, then yes that real value has to come from somewhere.

But right now you acquire it in one of three ways...
1. Buy it with real currency
2. Provide goods or services and get paid in crypto
3. Mine it

So it does have some real value, at the very least the cost to mine it which is well over $10k assuming you have the most efficient hardware and can access cheap electricity. And again, it does have an additional value premium in opacity to some people... if nothing else tax evaders are saving 30% by using crypto.


As an aside the dollar is up... to the point that I know people buying vacay/retirement homes in Europe right now. Apparently the reports of it's demise are once again premature. Guess the global finance system isn't flocking to rubles or yuan just yet
It has been my observation that the value of a currency, while it has many factors, depends more than any other one factor on the perceived political stability of the issuing country. Historically, post WWII USA has been pretty stable.
Example: The Polish Zloty took a hit when Russia greatly expanded its invasion of Ukraine. Threat of war, even if widely considered to be a small threat, had an immediate influence.
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Old 09-01-2022, 04:38 PM
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Originally Posted by SonicFlyer
I see crypto similar to precocious metals. Not really a true "investment" but more like a commodity where you don't keep more than 5% of them as your total portfolio.
Sonic,
Gold physically exists. Its value may fluctuate, but you own a chunk of it.
I question it being a true commodity, as I am still not convinced that it has any basis in physical reality.
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Old 09-01-2022, 09:06 PM
  #55  
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Originally Posted by MaxQ
Sonic,
Gold physically exists. Its value may fluctuate, but you own a chunk of it.
I question it being a true commodity, as I am still not convinced that it has any basis in physical reality.
Gold has value...

1. People like it. The way it feels and looks. This has been the case for literally millennia, all of recorded history, and that probably isn't changing any time soon.
2. In the modern era it also has some legit industrial value as well, along with other precious metals.

Bonus: It's concentrated in a small, portable form factor (mattered more before mechanized transport was a thing). Although you can fit a lot more bitcoin than gold on a USB stick.

In the event of Global Apocalypse, gold would still have value. Maybe not as much value as an equivalent weight 7.62 NATO.
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Old 09-02-2022, 07:39 AM
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Originally Posted by rickair7777
Gold has value...

1. People like it. The way it feels and looks. This has been the case for literally millennia, all of recorded history, and that probably isn't changing any time soon.
2. In the modern era it also has some legit industrial value as well, along with other precious metals.

Bonus: It's concentrated in a small, portable form factor (mattered more before mechanized transport was a thing). Although you can fit a lot more bitcoin than gold on a USB stick.

In the event of Global Apocalypse, gold would still have value. Maybe not as much value as an equivalent weight 7.62 NATO.
I reread what I posted to Sonic. Sloppy writing on my part. It looks as though I was stating gold wasn't physically real. I meant crypto currency not being based on a tangible essence.
Sorry for not making the distinction clear.

And agree. Regardless of the reasons, gold has been valued for millennia, and probably always will be as long as we have vestiges of civilizations.
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Old 09-02-2022, 01:45 PM
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Crypto is now available from ATM's at gas stations and liquor stores in your nearest low-income neighborhood. Yeah, somebodies getting screwed...


https://www.newsnationnow.com/busine...n-los-angeles/
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Old 09-11-2022, 09:06 AM
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Originally Posted by Bluesteal
Exactly Chihuahua... we're so brainwashed by the TV that people dont even realize these sanctions are absolutely killing the west and mostly the US. The whole world will go away from the dollar and as the Saudi's have their meeting with China today, Saudi's and other OPEC nations may now price their oil in Yuan. Crushing the US and impoverishing the people
How'd this all turn out?
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Old 04-03-2023, 05:23 PM
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Originally Posted by Duffman
How'd this all turn out?
Looks like its not turning out too good bud! Bluesteal seems to be 100% correct on his statements. His post almost a year ago is exactly what is happening today. The world clearly is moving away from the dollar. Im sure glad I have been buying Gold and Silver and even some Bitcoin myself. I suggest you all do the same. Inflation will become Hyperinflation next year. America and our world reserve currency was fun while it lasted! Its a step by step process, dollar won't be destroyed overnight... it seems like we are at the very end of the process now.
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Old 04-06-2023, 10:33 AM
  #60  
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Originally Posted by rickair7777

In the event of Global Apocalypse, gold would still have value. Maybe not as much value as an equivalent weight 7.62 NATO.
​​​​​​​




Guns, ammo, and freeze dried foods maybe the new best investment.

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