2T$ in Crypto

[TOM4CWB]

Just watching Bloomberg on Crypto
15,000 cryptocurrencies in existence.
Bitcoin down 30% since US Fed reversed hawkish monetary policy(as much as reverse in policies is realistic) ;

What actual value and ‘utility’ (use)do these crypto‘currencies’ have… not like gold, precious metals, grains, steel, energy, these currencies consume energy … get hacked and stolen, are virtually cloud based imaginations.

Yet 2 Trillion dollars‘investment’ that is nothing less than a bubble of frothy quantitative easing transitory inflation induced fake world… entertainment based pandemic fake assets???

How can these crypto Fantasies Create real value over time?

Civilization is entering into an irrational deluded state of virtual reality that is unstable and unsustainable? The New Green Deal… leads humanity where exactly??? Extinction????

[Guest]

For the commoner yes
Why should that surprise anyone

[Richard5]

My opinion only:

Crypto is like the next Bre-X and since nobody is able to prove who the owner is, maybe he has already fell out of the helicopter.

Although a great concept by those that think they need to fly under the radar of government, banks etc, it seems very confusing.

I don't see this going anywhere and those late into the game will loose hard

[Stormin]

I don't really understand Crypto but I bought some, they went up in value, I took out my initial investment and I'm still in the game. I'll see where it goes.

"Civilization is entering into an irrational deluded state of virtual reality that is unstable and unsustainable? The New Green Deal… leads humanity where exactly??? Extinction????"

When you figure out what to do about it...let me know.

[hobbyfrmr]

Bitcoin is on sale. 25% discount.
Buy bitcoin.

Considering inflation and near zero interest rates, money in the bank is a definite loss. A “melting ice cube”.
Two strategies, buy Bitcoin or borrow as much as you can for as long as you can. The government of Canada is bankrupt and the average citizen spends 1.75x more than their after tax income. They cant raise interest rates or it will implode all aspects of this country.
I am of the opinion the Liberals are purposely destroying this country. You can not “build back better” until you break it down to nothing.


Andreas Antonopolus is an excellent resource for bitcoin. I had to learn about money before I understood the purpose of bitcoin. Every other crytpo is a shitcoin casino.

https://youtu.be/ONvg9SbauMg

[hobbyfrmr]

Last week I came across a little bit of insight. The amount of money holding bitcoin is identical to Canada’s national debt. 1.1 trillion dollars.
I have become that paranoid old man who does not have any confidence in the government. Canada just printed 430 billion dollars and then, at the Glasgow carbon party, the Turd announced to the world that Canada MUST reduce oil and gas production. So….print more money and back it up with less “real” value. Encourage/Pay people to stay home and do less. This is is the exact opposite of what I learned from my parents and communities when I was growing up.
Everyday I think that the absurdity will wane but nope, another news release celebrating victimhood, incompetence and apathy.
Once you see it, you can’t “unsee” it.

[furrowtickler]

Bitcoin is on sale. 25% discount.
Buy bitcoin.

Considering inflation and near zero interest rates, money in the bank is a definite loss. A “melting ice cube”.
Two strategies, buy Bitcoin or borrow as much as you can for as long as you can. The government of Canada is bankrupt and the average citizen spends 1.75x more than their after tax income. They cant raise interest rates or it will implode all aspects of this country.
I am of the opinion the Liberals are purposely destroying this country. You can not “build back better” until you break it down to nothing.


Andreas Antonopolus is an excellent resource for bitcoin. I had to learn about money before I understood the purpose of bitcoin. Every other crytpo is a shitcoin casino.

https://youtu.be/ONvg9SbauMg

Glad to see your back hobby
Very good post and spot on

[furrowtickler]

Last week I came across a little bit of insight. The amount of money holding bitcoin is identical to Canada’s national debt. 1.1 trillion dollars.
I have become that paranoid old man who does not have any confidence in the government. Canada just printed 430 billion dollars and then, at the Glasgow carbon party, the Turd announced to the world that Canada MUST reduce oil and gas production. So….print more money and back it up with less “real” value. Encourage/Pay people to stay home and do less. This is is the exact opposite of what I learned from my parents and communities when I was growing up.
Everyday I think that the absurdity will wane but nope, another news release celebrating victimhood, incompetence and apathy.
Once you see it, you can’t “unsee” it.

What the Liberal government is doing is near pure insanity. But the Turd bought into the UN plan and is ripping Canada apart to make it a pure socialist state .
No more middle class , just elites and peasants.... the exact purpose of “Build back better”

[Old Cowzilla]

Lots of people have faith the network won't go down and cryptos the latest pyramid scam . Those who get in first and out will do ok . The rest not so much but everybody has a get rich plan fast dream. Have to admit when bitcoin hit $20000 about 2 years ago I thought party was over. My get rich fast dream is $25 canola at 50 bu. and $2.25 (1000 lb ) yearlings next fall !!!!!! Don't think any parts guys taking cryptos on trade yet in my area.

[SASKFARMER]

So true Furrow!

[hobbyfrmr]

Canada is the UN’s number one cheerleader.

Hobby, I like the borrow to infinity idea but isn’t that what people have been doing anyways. It’s payed well for those that stretched out before prices went crazy but wouldn’t doing it now be similar to getting into the bitcoin game too late?

As far as not raising interest rates I agree however is it not possible they will raise them and quickly. It’s quite obvious that debt and budgets don’t matter so why would raising interest rates matter if bankruptcy or should I say “reset” is the end game.

It is still very early for bitcoin. We don’t see it because we can walk into a bank, we have debit cards and credit cards. All our money conversations have included “the bank” for 100 years.
At this time most people who hold bitcoin have life changing problems. Syria, Venezuela, India, Palestine, some African countires.
Basically people who do not trust their government due to conflct, inflation, corruption, instability or tyranny hold bitcoin.
So far one country, El Salvador has made bitcoin legal currency alongside the US dollar. This is the experiment a person can keep an eye on.
Canada is bankrupt. One podcast claims the CPP is insolvent.
The big suprise in North America is yet to come. The baby boomer generation is reaching retirement age. Most pensions are underfunded and inflation is eroding them every day.
Canada was printing 1.6 BILLION DOLLARS PER WEEK. 40% of the entire money supply in the history of the USA was printed in the last 18 months.
I am not an expert in economics, but grade 8 math tells me trouble is coming.
I consider bitcoin diversity in a portfolio.
I look at it forensically. WTH is going on to make one bitcoin worth $CAD60,500 no….wait….$60,100…?🙂