Cryptocurrency Prices Plummet Even More

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triwolf said:
Why everyone likes being played by corporations and bankers, while they could have had control and a huge potential for more freedom to control and actually grow their monetary value with crypto I will never understand. Enjoy your slavery to the Federal reserve..
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A deflationary coin is the worst enemy of any economy, you seriously want a currency to gain value? in a deflationary economy there's no incentives to use money, prices progressively drop, seller can't afford labor becaue nobody is buying, unemployment lead to even less money and less incentives. You give extreme examples like Venezuela where inflation is over 40.000%.

Want to know how deflation looks? Check the Spanish crisis, 25% unemployment, youth unemployment of over 50% and most investments frozen.

If you want your coin to gain value you are being either greedy or ignorant, or probably both.

Edit 1: typos
 
Neurofreeze said:
Why wait five years for your dollar to be worth crap when you can wait just a few months for your crypto to be worth crap? Now that's progress.
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I guess you missed the fact that I already made out big time and probably will again and don't have to work anymore, just do what I want. HAHHAHHAHAHAHAHAHAHAHAHAHAHAHAH!!!
 
Atearen said:
A deflationary coin is the worst enemy of any economy, you seriously want a currency to gain value? in a deflationary economy there's no incentives to use money, prices progressively drop, seller can't afford labor becaue nobody is buying, unemployment lead to even less money and less incentives. You give extreme examples like Venezuela where inflation is over 40.000%.

Want to know how deflation looks? Check the Spanish crisis, 25% unemployment, youth unemployment of over 50% and most investments frozen.

If you want your coin to gain value you are being either greedy or ignorant, or probably both.

Edit 1: typos
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Fine, like most things there are other cases where it doesn't work out as planned. Oh, let me count my coins and cash again, AHHHHHAAAAAAAAHAAAAAAAAAAAA!!!!!!!
 
triwolf said:
They have all been indoctrinated by the bankers that crypto is bad. Too bad they don't see it as a path to freedom.
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Freedom from what? Knowing that a pizza will cost about the same tomorrow as it did a few hours ago. God I can't wait for the day when I order food and it costs +/- 30% when I get it.
 
For someone who supposedly made out like a bandit, you sure seem to have small dick syndrome.
 
bugleyman said:
They? Dude, I guess "the bankers" got to me too, darn it. Because you sound like you're off your meds
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Why don't you look into how you are bought and sold by bankers on a stock market like exchange, where you are rated by how much money you will make in your life, and you are traded like cattle. Go ask a lawyer to explain it to you if you don't understand. Keep their system going by being dumb though, the bankers love it!
 
Aireoth said:
For someone who supposedly made out like a bandit, you sure seem to have small dick syndrome.
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LOLOL Always with the cracks about a dick. since I drive a nice car, does that shrink my johnson too? LOLOLOL
 
Please explain how this discussion is related anything to size of my peen? LOLOL it's like battling a second grader! LOLOLOL
 
If you need that explanation, you really are not as smart as you claim to be.
 
Aireoth said:
If you need that explanation, you really are not as smart as you claim to be.
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I'd put my IQ against anyone on this board anytime, and by the way, remember, I'm rich, and get to do whatever I want all the time! So you know anything about me?You don't even know the size of the lint in my pocket! LOLOLOL
 
Aireoth said:
If you need that explanation, you really are not as smart as you claim to be.
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That is what a person with no comeback always goes to, I've sure met a lot of guttertrash like you ion my day, they all end up poor and miserable, enjoy! LOLOLOL
 
You are precious. Anyway I'm done with you, too many LOLZ. Enjoy your lint.
 
exiled350 said:
Freedom from what? Knowing that a pizza will cost about the same tomorrow as it did a few hours ago. God I can't wait for the day when I order food and it costs +/- 30% when I get it.
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Well no one could ever have a rebuttal to that (/sarc), except if you hold it more like gold and it over time holds and grows it's value then I am smart and win the argument. Kind of like rebutting when someone says you have a small dick, knows nothing about you, and the contention is over bitcoin and money, but I digress.
 
Atearen said:
A deflationary coin is the worst enemy of any economy, you seriously want a currency to gain value? in a deflationary economy there's no incentives to use money, prices progressively drop, seller can't afford labor becaue nobody is buying, unemployment lead to even less money and less incentives. You give extreme examples like Venezuela where inflation is over 40.000%.

Want to know how deflation looks? Check the Spanish crisis, 25% unemployment, youth unemployment of over 50% and most investments frozen.

If you want your coin to gain value you are being either greedy or ignorant, or probably both.

Edit 1: typos
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So you want your RAM, video card and CPU prices to increase year to year? Much of our modern tech is deflationary yet tech companies have some of the highest values. Just ask Venezuela how well that inflationary money is working out.

When Bitcoin forked, it pretty well demonstrated it wasn't a currency but some type of stock equivalent. You split stocks, not currencies.
 
Most markets are selling off. So although this is a steep decline for BTC, the DJIA lost 2.3% and SPY lost 1.8% today.

Essentially all gains of 2018 have been wiped out of the stock market and they're now sitting near negative for Year-to-Date.
 
Dead Parrot said:
So you want your RAM, video card and CPU prices to increase year to year? Much of our modern tech is deflationary yet tech companies have some of the highest values. Just ask Venezuela how well that inflationary money is working out.

When Bitcoin forked, it pretty well demonstrated it wasn't a currency but some type of stock equivalent. You split stocks, not currencies.
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We are in a different market cycle in tech (so far, I think that is about to change). The cycle we are in is still more like a start up, we have growing market penetration year over year, especially as product gains greater traction world wide. Once that cycle is completed we will move into a mature position where prices increase, hell we are already seeing that happen, so I think we are moving into that cycle.
 
Sir, you are mixing:
Dead Parrot said:
So you want your RAM, video card and CPU prices to increase year to year? Much of our modern tech is deflationary
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Nominal values (worth mentioning that recently RAM prices sky rocketed due to collusion of the only three suppliers, gotta love that free market)

Dead Parrot said:
yet tech companies have some of the highest values.
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Valuations based on the return of their assets (and they indeed make a crap ton of money)

Dead Parrot said:
Just ask Venezuela how well that inflationary money is working out.
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and an extreme example in a regime where the central bank is not independent from the state.

I don't mind the nominal numbers going up if the real values still stable. A minimal level inflation moves people to put their money to work, of course I don't want Venezuelan levels of inflation. Maybe you could argue that zero inflation would be best, but wanting deflation because lower prices, c'mon man
 
PeaKr said:
Crypto has its flaws but it solves the biggest problem with fiat, the power to print it until its worthless.
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When Bitcoin got too difficult to mine people just started creating an endless array of altcoins to keep the speculation bubble going. With fiat money you can't just go out on your own and issue DogeDollars or EtherEuros or whatever.

I guess at least one good thing about the crypto debacle is that a lot of people are going to gain a basic understanding the advantages of fiat money and central banking. It's not too difficult to wrap your head around, you want a currency that slowly inflates to drive investment and prevent hoarding.
 
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DigitalGriffin said:
Seems there is more information about price rigging coming out on bitcoin also. A couple years back I wondered if that was a possibility given how the system works.

https://www.foxbusiness.com/features/bitcoin-plunges-again-amid-new-info-on-rigging-probe
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Hang on, are you suggesting that someone was manipulating the value of fake money? I simply can’t believe that’s possible. $2B was a perfectly logical market capitalization for a fake currency based on a meme about a dog!
 
I wish I could fork my dollars. Today I have one. But tomorrow I will fork into 2, and on turkey day fork into 4.

Fuck crypto and its braindead followers.
 
opfreak said:
I wish I could fork my dollars. Today I have one. But tomorrow I will fork into 2, and on turkey day fork into 4.

Fuck crypto and its braindead followers.
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Oh we are so scared. Even at $4K that's a lot of cabbage, and it looks to be reversing the trend and heading back up right now. We are braindead? We sure get a lot of negative threads on the interent. It's ok, they always scoff at ground breakers. First they ignore you, then they laugh at you, then they fight you, then you win.
 
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Spidey329 said:
Most markets are selling off. So although this is a steep decline for BTC, the DJIA lost 2.3% and SPY lost 1.8% today.

Essentially all gains of 2018 have been wiped out of the stock market and they're now sitting near negative for Year-to-Date.
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Don't try to use logic, this is a pitchfork and fire fest.
 
DeathFromBelow said:
When Bitcoin got too difficult to mine people just started creating an endless array of altcoins to keep the speculation bubble going. With fiat money you can't just go out on your own and issue DogeDollars or EtherEuros or whatever.

I guess at least one good thing about the crypto debacle is that a lot of people are going to gain a basic understanding the advantages of fiat money and central banking. It's not too difficult to wrap your head around, you want a currency that slowly inflates to drive investment and prevent hoarding.
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Concerning your comment of "you want a currency that slowly inflates", please read https://dothemath.ucsd.edu/2012/04/economist-meets-physicist/

Bottom line...any amount of inflation is not sustainable. There will be a reckoning one day. If you care about your progeny's future, you should be looking for alternative solutions that don't depend on economic growth or currency inflation.
 
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triwolf said:
Why everyone likes being played by corporations and bankers, while they could have had control and a huge potential for more freedom to control and actually grow their monetary value with crypto I will never understand. Enjoy your slavery to the Federal reserve, they have some real fun plans for 2019, like raising interest rates four times. Too bad so many idiots want to kill a golden goose. Like I said, you made your bed, lay in it.
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As much as I hate fiat you are right, but might want to learn about who was pushing crypto. Rothschilds wanted a replacement for their financial system before hyperinflation kills their golden goose and potentially killing some of them in the chaos (Germany captured at least one of them in WW2, pity they didn't do anything but take their assets), requiring a reset, when crypto was co-opted by many others I have a feeling they then killed it to try again without losing control so easily.
Crypto this time around was a real mainstream pushed experiment. Last few times it's been more of a test/low grade acceptance move before mainstream deployment (round 3 we saw this time). Most people not realising how fiat works and the implications it has for you is quite interesting. People in here may find Modern Money Mechanics by the Chicago Federal Reserve to be of great interest in understanding FRB.
 
triwolf said:
Oh we are so scared. Even at $4K that's a lot of cabbage, and it looks to be reversing the trend and heading back up right now. We are braindead? We sure get a lot of negative threads on the interent. It's ok, they always scoff at ground breakers. First they ignore you, then they laugh at you, then they fight you, then you win.
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Keep telling yourself bullshit. berry Madoff followers said the same thing.

And yes most bitcoin defenders are braindead.
 
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daringx said:
Concerning your comment of "you want a currency that slowly inflates", please read https://dothemath.ucsd.edu/2012/04/economist-meets-physicist/

Bottom line...any amount of inflation is not sustainable. There will be a reckoning one day. If you care about your progeny's future, you should be looking for alternative solutions that don't depend on economic growth or currency inflation.
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yes you should depend on solutions that randomly fork (IE invent new ones) their coins whenever they feel like it. Or if they don't they just create kitty coin 2
 
Sonickrunch said:
In Crypto terms, yes...
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If you have to redefine the terminology for a trait you want you proove your object to have, then it doesn't have the trait to begin with.

Also i have some cheap 100dollars PC grachics cards computer that are lightningg fast *

































*in atari 2600 terms
 
If crypto currencies are only meant to be hoarded like gold and not spent in day-to-day transactions, then why not well... buy gold?:cautious: Short of any massive leap in technology there will always be material applications for it and there will always be limits on how fast we can dig it up (short of finishing off the planet even sooner). If I can't buy a tank of gas locally or buy groceries with a currency it's value to me is instantly diminished. Yes, I know some places do/did take BTC payments but that's not where I live so it doesn't apply to my life in any way. If you don't live and breathe crypto technology it's more along the lines of collecting 1950's baseball cards or classic cars that should technically be a good investment but that are hard to sell at the best price possible if you're short on time and need that cash immediately. I mean seriously what percentage of people in the world are ever going to watch crypto prices like hawks versus those that will start a retirement fund they never take a direct hand in?

Why are crypto defenders so ashamed to admit that 99% of the reason they're are attracted to them is that they are more volatile than most anything else you could invest in. They are seeking out the emotional rewards of quick returns while downplaying all of the negatives that come with it. Do you really need to pound your chest and scream into the internet about how much better/smarter you are than anyone else? We get it, everyone wants to feel special like they got a leg up on the next guy. I'm not sure why this would be the place for it though when I'm sure there's already forums dedicated to all the believers where you wouldn't have to deal with pesky responses from people that prefer traditional investments. Having a fact-based discussion about technology - perfectly okay! Trying to manipulate people you think are less intelligent or informed than you into investing so you earn even more$ - not cool!
 
Aireoth said:
It doesn't solve that problem at all, that problem is called inflation and is dictated not by fiat but by production and scarcity. Those 'problems' of fiat that crypto lovers point out just show a fundamental lack of understanding of basic economic functions and principals, fiat isn't without risk, but it allows for greater options when dealing with outside factors like supply and demand, scarcity, global political shifts, economic shifts, etc.

Printing more fiat to combat economic forces is a powerful tool, if you cannot print more then those external effects hit your economic system in a different manner. Greece found this out by joining the EU, losing control over their currency, they couldn't devalue it as the economy collapsed, which would have made their exports more favorable and boosted tourism.

This isn't the bronze, silver or golden age anymore, we don't need metals to peg values, the values are dictated by a much more intricate system that allows for greater control.

Edit: Someday's I feel like I was the only one who actually pays attention.

Edit 2: This really gets my goat, yes fiat has a problem, but that problem has been baked into fiat for a reason. To allow for greater control and influence over a individual countries economy than would otherwise be possible. Yes because its a 'problem' some jackass can come along and say 'crypto solves it' but what they don't tell you is by solving that 'problem' they really have just made a whole bunch of other problems, many that are more serious.

Its like millennial and hippies yelling for a diminishing of the American Military Industrial complex, without realizing the issue is much more nuanced then 'no one can currently challenge us, so why are we spending this money'? Well for one, a military is one of the best and simplest ways for a state to provide gainful employment to the broadest group, and usually the most underprivileged. Modern military forces encompass everyone from the basic bitch grunt to physicist and engineers, the depth and breadth of employment would be difficult to match with any other public project, and would take decades to build.

Yeah, that was an off topic rant, but its the same thing, these issues and systems are setup the way they are for a reason, with sound long term development and strategies of some of the greatest minds in history. When someone says you can just change them on a whim today because 'look I solved something' they're full of it. The nuances in the system, or the devil in the details, will kill you.
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You can blather on for paragraphs but it doesn't change the facts. Maybe you believe in Fake Facts or Fantasy Economics. Currencies around the globe are losing value, especially in emerging markets. The $ has lost 98% of its value, the same as Rome before its collapse. The $'s been trending down since being taken off the gold standard, a much better anchor of trust than some nebulous FULL FAITH horseshit. CPI doesn't mean anything to the common person. Prices of things you need to live are skyrocketing while prices of shit you don't need like electronics go down. Need examples? Remember how big a box of cheerios was in the 80's for that matter what about groceries in general, maybe your not old enough. What about the cost of HEALTHCARE, remember 4$ gas, the cost of running a website, internet, car insurance? I remember 1$ gas, 35$ shoes and Levis that didn't wear out in 6 months. I still have a pair, much thicker than todays jeans. These trends do not favor your argument. Maybe you make enough money that it doesnt matter. Wait till the real estate market rolls over, surprise, its in ANOTHER bubble and surprise, sub prime mortg are showing up again. For most people, watching their house lose 30-40% of its value like in the late aughts will hurt them for decades and push back their retirements. Once the wealth of the middle class has been pilfered the mob will come for the rich. Interest rates on bank accounts don't even come close to making up for the mandated 2% inflation target, which destroys savers or forces them into risk assets to be robbed by 10% draw downs. Most of these asset bubbles have been created by the idiots who caused the problems in the first place, their answer, print mo money and blow mo bubbles. Is that your answer, it won't work when the average joe hasn't had a raise in years or their jobs been replaced by automation. What about the stock market? Stock buybacks and non-gaap earnings are the order of the day, you don't even need a fucking product anymore. Just issue some junk bonds like GE and buy your own stock up, it looks great on cnn and the exects and holders get rich, not sustainable. Intel just announced another 15B stock buyback. What do you think is going to happen when the next financial crisis occurs compounded by all this debt? Who will bail out the CBs and what will be the cost because this time around it'll take a lot more than 200T. Do you even know why BTC was created in the first place? I suspect NOT. So bury your head in the sand, blow your trumpet and rally your fans but the sun rises in the east, every day, FACT!
 
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