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Cryptocurrency

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    Originally posted by d000hg View Post
    What on earth is going on this week then? Logged into Kraken to find I've doubled in a week... Ripple up more like 400%. Shame I only put in a grand to test it now!
    They are baiting mugs to put more real money in, that’s what’s happening

    Comment


      Originally posted by AtW View Post

      They are baiting mugs to put more real money in, that’s what’s happening
      https://www.independent.co.uk/life-s...-b1842298.html

      Price is going up 100000000000000000000000000000000000000%, so this is just noise.

      EVERYONE WILL BE BILLIONAIRE'S!!!!!!
      First Law of Contracting: Only the strong survive

      Comment


        Originally posted by d000hg View Post
        What on earth is going on this week then? Logged into Kraken to find I've doubled in a week... Ripple up more like 400%. Shame I only put in a grand to test it now!
        I read a story some young guy at college chucked some money into the joke crypto Doge and then checked his account he's a millionaire.

        Now the question is, sell now or wait until billionaire levels of wealth?
        First Law of Contracting: Only the strong survive

        Comment


          Something to consider with the cryptoverse.

          How much "excess" money is there looking for a quick profit? Well, turns out, people aren't exactly hard up, especially in the USA due to all this free "stimulus" money.

          https://edition.cnn.com/2021/04/19/b...oom/index.html

          Consumers have $5.4 trillion in excess savings. That could unleash a global spending boom


          Some of that is going to end up in these crypto tulipcoins, and the profits made will be staggering on the up.
          First Law of Contracting: Only the strong survive

          Comment


            IRS Now Seeks Identities of American Cryptocurrency Traders

            IRS wants to tax owners of cryptocurrency.

            https://www.tomshardware.com/uk/news...rrency-traders

            Comment


              Originally posted by AtW View Post
              IRS Now Seeks Identities of American Cryptocurrency Traders

              IRS wants to tax owners of cryptocurrency.

              https://www.tomshardware.com/uk/news...rrency-traders
              Damn those tax peoples.
              First Law of Contracting: Only the strong survive

              Comment


                Getting those vibes.

                Click image for larger version

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                ‘His body, his mind and his soul are his capital, and his task in life is to invest it favourably to make a profit of himself.’ (Erich Fromm, ‘The Sane Society’, Routledge, 1991, p.138)

                Comment


                  Here's a question ... is there enough money to cover the 'value' of crypto coins? Or is their 'value' still tiny in the grand scheme of things?

                  I find it ironic that this new money is valued in dollars
                  I am what I drink, and I'm a bitter man

                  Comment


                    Originally posted by Whorty View Post
                    Here's a question ... is there enough money to cover the 'value' of crypto coins? Or is their 'value' still tiny in the grand scheme of things?

                    I find it ironic that this new money is valued in dollars
                    The current total market capitalization of crypto is over $2 trillion, of which bitcoin accounts for about half ($1 trillion).

                    If it was go up another 10-fold, it would equal US GDP ($20 trillion). If it went up 20-fold, it would equal the size of the entire US stock market ($40 trillion).

                    If it keeps sucking in more and more capital, Governments and central banks around the world may start to view it as a threat to the financial system.
                    Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.

                    Comment


                      Originally posted by DealorNoDeal View Post

                      The current total market capitalization of crypto is over $2 trillion, of which bitcoin accounts for about half ($1 trillion).

                      If it was go up another 10-fold, it would equal US GDP ($20 trillion). If it went up 20-fold, it would equal the size of the entire US stock market ($40 trillion).

                      If it keeps sucking in more and more capital, Governments and central banks around the world may start to view it as a threat to the financial system.
                      Interesting. Thanks.
                      I am what I drink, and I'm a bitter man

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