Cryptocurrencies Can Everyone Say Crazy Big Government Bailout Coming!

Although this Christmas season America is hurting and many hurting badly, overall we as a people have a lot to be grateful over compared to other parts of the world we have prosperity, security and a decent standard of living! Sure the Pandemic has knocked our country down bad but there is hope we will survive it largely intact. The nation's economic motor turned over from the March, April shutdowns God has given us outstanding vaccines to rid the world of this virus and if we don't blow it on enacting into law this $900 billion relief bill that both the House and Senate passed which will keep the country's economic engine running through the time period needed to manufacture and distribute the vaccine and assuming President Biden brings to the job his vast experience working under the hood of Washington to get a moderate size stimulus/relief package through Congress early in his term America will fully recover from Covid 19. Not blowing enacting into law the current relief bill mind bogglingly is becoming an issue; how appropriate from a nature's standpoint that a person like Donald Trump who was unfit to be President and on an abundance of cases during his term demonstrated this is ending it demonstrating that he has a mental state where the barrier or line between sanity and insanity is largely non-existent. Those Republicans in the Senate and the House that switch their vote and fail to override President Trump's veto on this legislation if the override fails will never get clean from this bad act so many portions of our society are at the edge of the cliff only being held from sliding off by a single line if this bill doesn't get enacted in ten day threads in this line will start snapping!

People that think the hardship of this Christmas is bad could be in for a rude awakening; there is things going on in Wall Street that are largely not on anyone's radar that damn well should be because when they blow-up the wailing from the hardship will be deafening. One area are these cryptocurrencies; these are currencies that have no physical qualities but exist only in the technology world they are "not" created by sovereign governments but created by computer technology organizations where there exist a shared ledger by users of the cryptocurrency that keep a computer record of holders of the currency and how much they hold. The problem with these currencies are the value of these currencies is very arbitrary is inherently unstable, it is whatever the people in the market for these currencies want to put on it. This can and has led to wide and rapid fluctuations in the value, the history of the bitcoin market bares this out. One very troubling feature of this cryptocurrency market compared to a regular currency market is that they don't have a sovereign government to back them up when an ordinary sovereign government's currency begins to fall in value the sovereign government can go into the currency market and buy their currency to prop up its value cryptocurrency has no obligated defender of the currency.
What should be worrisome to people is that these cryptocurrencies are now hot financial institutions are tripping over themselves to get into the market, financial experts are like losing their voices hawking this junk. What is really scary is that people across America with their retirement savings are going to be steered by the experts to put significant portions of their retirement saving into cryptocurrencies and when these markets crash which they eventually will a lot of seniors will be dramatically financially hurt and experience a lot of pain over the loss. Congress and the President should permanently ban these investments for retirement savings accounts and limit banks and insurance companies to holding an amount of these cryptocurrencies needed in order to transact business they should not be permitted to view these assets as having any investment value. Ultimately, you know what our corrupt system in this country is going to bring about it is that abundance of big players in Wall Street are going to make tons and tons of money selling and trading this garbage and then when the market crashes the Federal government is going to have to bail out the industry because all of the harm referenced that would unfold if no bailout occurs and ultimately the U.S. taxpayer is going to be left holding the bag. Now is the time for our elected officials in Washington to protect us the American people because there is no need for us to suffer this likely future injury!

The other investment creation by Wall Street that holds trouble for the American people are these SPACs. SPAC is an acronym for special purpose acquisition company
in regular person talk it is a company that just raises a lot of money it doesn't own any businesses that provide a good or service but the company intends to buy such a business it is essentially an organization that raises money to do an investment - common lingo calls these companies "blank check companies" (name hits the nail on the head) . SPACs are now a really hot investment in the financial markets this year I think this industry or market is close to raising a hundred billion dollars. The problem with these SPACs is that it is hard to buy businesses their expensive and there is a lot of competition for such purchases. With so many SPACs out there I think you are going to see a lot of people who have their financial advisers guide them into a SPAC and it may have been a good idea when the stock in the SPAC was issued but what you end up having is the SPAC was intending to buy an A company and because it was so hard ended up buying a Z company that the original investors would never wanted to invest in and this Z company turned out being a terrible company that precipitously drops in value so likewise the SPAC drops in value and so that American takes a big loss to their retirement savings and it affects their quality of life when they retire. Congress and the President should pass a law banning retirement accounts from being able to invest in SPACs.

 

I think BitCoin is going to increase in value forever. I don't know about the other crypto-currencies, but BitCoin I knew it was going to go up in value after I heard that there is a limited amount of BitCoin and demand for it will keep the price rising.

I didn't invest in it, even though I knew better, because I considered it to be a shadowy, criminal currency that would be used to pay for bad things that are illegal.

 

You gotta risk big to win big.

Im not looking to win big. I keep about half my savings in gold, the other half in my bank account. As well as a stockpile of food, of course.

We keep printing money for Cvirus stimulus, I may yet win big with my gold. Hope not though.

 

^^^^ is capitalism... the market will decide the value, not a corrupt government. "the market clears at the price the market clears at" It shouldn't surprise me that you don't know what capitalism is since we haven't seen true capitalism for a very long time.

 

That wont last. They create Future Contracts on it to control, as they have done with Bitcoin, and soon to be Ethereum. Look what it has done to Gold. Those who study know that since 1971 Gold has moved a Fraction of its real Value to Inflation. Honestly vs the Dollar it should now be OVER 30K/oz. That isnt some guessing number of mine, it has been proven. They even show it on the debt clock, far right side I believe. When the Banksters who own 90% of the money decide to control something as they did in 1913. They dont ask the American People "will you let us destroy and control you" They sell it..

Just as they are selling the GREAT RESET at Davos. Do you think Crypto's were just some magical design by a Japanese person ?
Got a bridge to sell ya... Or is it just Ironic that it is timed to work out with the 2021 end of LIBOR, and vast money printing, 0% interest rates happen to be NOW too ? And lets not forget, every country has or is working on their own Crypto, while our TREASURY Secretary is talking Regulations ?

Everything always feels like it just happens. When in fact we are all led to believe that, they control and we are puppets. We think we know what is going on. There are thousands of really smart people behind this movement and you can only guess how it plays out. I have crypto's too, but am ready to unload quickly, it only takes one press release, 1, (one) from a POTUS or the FED saying "Crypto's are DESTROYING America and we must end them NOW" It may not be true, yet, they control the media now, it isnt REAL REPORTING. People actually believe some of the garbage coming out of FX, OAN, and other neocons. Some of it is true, and some of the liberal Garbage is true too. Yet, most of it is so irrelevant.

 

Cryptocurrencies & blockchain adoption are here to stay... it would be better to make the adjustment sooner rather than later.

https://cryptonews.com/news/blackrock-prepares-to-make-more-crypto-moves-more-news-8745.htm

as for this ^^^ you understand what Bitcoin is right.... it is decentralisation... it is the answer to the Davos elite control. Sure they will try to ban it but it is the equivalent of banning the internet. If you ban it from your country you lose, because other countries will make it available to your citizens on the blackmarket and I will 100% use this facility if it is banned in my country...it's called self preservation.

On top of this these elites, bankers and central bankers are THE most corrupt entities in the world today...and banning Bitcoin would be their ULTIMATE act of corruption... it would be the final act to push honest hardworking ethical people over the edge into standing against government..... this crowd is now also becoming exponentially larger by the day as companies with millions in treasury assets and institutional investors are buying into Bitcoin. It is already too late.

Personally I also thinks Bitcoin and altcoins can co-exist with fiat currency... perhaps not stable coins...they compete directly with fiat...
I also embrace the interest the SEC have taken into the crypto market, they are cleaning it up...after all people like myself invest in it to secure a future... not to avoid taxes or participate in illegal acts

also re vvv

I won't sell, because to buy back in on the blackmarket will cost a premium... if what you suggest happen.... it will crash probably down to $10,000 but then skyrocket on the blackmarket.... just go and look what happen to the price of alcohol and drugs when they are made illegal

 

Any time new things come out and the knowledge for it isn't understood there will always be "the sky is falling" mentality. People need to ask themselves how are they getting paid right now? Does your employer pay you with physical gold or silver? No he pays you with a piece of paper. When you pay your bills, more than likely, you are using a piece of plastic, with a code on it I would say. It's a safe way to transfer money as long as the info in the account is secure. When you sell items at a yard sale how are you being paid ? Paper money that says it's backed by the government? The dollar is down over 10% this year so that can't be good for cash in the bank.

My son in law over Christmas came downstairs and had a stack of Savings Bonds that he's been collecting for his son. He asked me if they were a good investment. I told him to go on line and see what the government was paying him yearly in interest. He was shocked. After I told him what yearly inflation was running I asked him what he thought his bonds were worth. He will be investing for his son differently from now on. Don't be misled that every dollar is backed by gold and silver in Fort Knox. The treasury buys Silver on the open market and makes coins, at highly inflated prices, to raise money to pay towards the debt.

Banks for years have used electronic transfers of money to do business at small fees for transactions. Your ATM is a good example of that. So what difference would it be if Bitcoin and other Crypto currencies used a secure system to transfer money using blockchains maintained by miners for a small fee to do business. I can buy physical gold and Silver using Bitcoin and now more banks and outfits like PayPal, Visa, Square are excepting it. Today I learned Kroger and it's affiliate's will be accepting Bitcoin and allowing you to receive !.5% cash back in Bit Coin it from them on purchases

 

The price of bitcoin is manipulated by a few whales doing wash trades and Tether printing to the tune of $200M a DAY. If you think the Fed is bad and evil, consider that bitcoin has its own private Fed, unaudited, and domiciled in Hong Kong. Unless you are doing a swing trade on something like Robinhood where you don't actually own BTC and are just trying to make a quick buck, giving money to crypto exchanges is a bad idea lol.

Agreed on SPACs. This, along with crypto and EVs certainly seems like a bubble right now.

 

Is Shark Tank a SPAC? There are hundreds of companies or start ups that are looking for investors. Also many investors are looking for good companies. Then there are small investors who are looking to take a risk and be able to get in on the ground floor. I bought into a SPAC that invested into Velodyne Lidar and brought it public. Not all are winners and a little homework is prudent.

Bit Coin is like gold or silver (I've actually bought both with Bit Coin) It's a hedge. Small investors again should look at their portfolios and only invest a max of 5% of it's value in a combination of all three. If one is going to shoot for the moon on Bit Coin they will need to keep enough for a good supply of Antacids .

 

This may have been true for the 2017 rally but Retail investors today have little say in the Bitcoin price, Corporations & Institutional investors are piling into the market because they need a hedge against inflation and Bitcoin is the best hedge against inflation out there. These investors will hold Bitcoin for at least 10 years.... and then decide whether they adopt the Bitcoin standard like I already have.

So these trader whales dump their Bitcoin only for it to be scooped up by Corporations and Institutions. In 2017 they caused the bottom to drop out of the market... now... all that happens is they lose their Bitcoin and have to buy back in later at a higher price. Because what else do you buy that is better.... nothing.

I was in bed watching the Bitcoin price dump by $2000, smiled rolled over and went to sleep. Woke up and the price recovered.... because I understand who is in & why they are in the bitcoin market. If you don't understand why you are buying Bitcoin then you probably shouldn't buy it... like any other investment you need to do your homework.

 

Well after pausing for awhile I jumped in and bought Bit Coin at $18,500 and today it's a triple. Took out my original investment and we are going to let it ride. If it hits $72,000 I may lighten up a little more. I have also bought Ethereum and am up 40%. I was in MARA (miner) but I think I will close my position Monday. Have you looked into Polka Dot ? If so what's your thought on it? What are your feelings on these stocks that are buying Bit Coin as their cash back-up like Micro Strategy (MSTR) Square (SQ) and PayPal (PYPL)? I bought all three but MSTR has been the most volatile. I was reading that Nividia (NVDA) will be the most powerful stock in the supply of chips for Bit Coin and Ethereum miners for the next 10 years. ( 1 year will be ok with me) I have had this stock for about 4 years and it is already a home run. This is where I read about Polka Dot.