BITCOIN as an alternative to regular currency

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jamesg46
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alexmr2 wrote:
Fri Apr 16, 2021 3:48 am
130% roi in one day is surely unheard of

And I thought Ffos Las was volatile

pixlr_20210416034454715.jpg
Did you buy some because you think the old Fiat Panda engine is running out of juice?
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jimibt
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alexmr2 wrote:
Fri Apr 16, 2021 3:48 am
130% roi in one day is surely unheard of

And I thought Ffos Las was volatile

pixlr_20210416034454715.jpg
increadible - of course these things have to settle back at some point, but this one seems to have a life of its own. don't have any myself and thankfully no longer suffer from FOMO, but certainly would have been good to have taken the ride back in feb to where we are now!
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Euler
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Selling into strength here isn't a terrible idea.
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alexmr2
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jamesg46 wrote:
Fri Apr 16, 2021 5:46 am
Did you buy some because you think the old Fiat Panda engine is running out of juice?
Over the last 12 months all sorts of assets seem to be high and I would put it down to people trying to get rid of cash since so much is being printed. It will be interesting to see how it ends because it doesn't seem sustainable.

Apparently Dogecoin is being fueled by people/insituitions taking their Bitcoin profits around $60k to diversify as it stalls. It's all over social media and Youtube livestreams so I imagine that's also adding something. Someone pointed out the advantage of the price being so low ($0.30-0.40) means that the downside should be less so hopefully it shouldn't crash under $0.20 but we'll see. Still don't fully understand how the ability to print more Dogecoins could affect it though because unlike Bitcoin, someone does have the power to alter the supply it seems
jamesg46
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alexmr2 wrote:
Fri Apr 16, 2021 5:38 pm
jamesg46 wrote:
Fri Apr 16, 2021 5:46 am
Did you buy some because you think the old Fiat Panda engine is running out of juice?
Over the last 12 months all sorts of assets seem to be high and I would put it down to people trying to get rid of cash since so much is being printed. It will be interesting to see how it ends because it doesn't seem sustainable.

Apparently Dogecoin is being fueled by people/insituitions taking their Bitcoin profits around $60k to diversify as it stalls. It's all over social media and Youtube livestreams so I imagine that's also adding something. Someone pointed out the advantage of the price being so low ($0.30-0.40) means that the downside should be less so hopefully it shouldn't crash under $0.20 but we'll see. Still don't fully understand how the ability to print more Dogecoins could affect it though because unlike Bitcoin, someone does have the power to alter the supply it seems
Think if I had of had your fortune I'd defo be taking the profit and probably leave the initial liability in there, keep taking the fluctuations.

I personally don't see all this printing as an issue, I think it's probably something done on purpose to devalue the USD, or keep it low enough in an attempt to keep their exports relatively competitive for global trade, plus wouldn't it piss of China who have been buying the bulk of their debt at higher prices?. I don't know, I'm no economist... I'm sure there are people browsing through who could give some better insight.
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alexmr2
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jamesg46 wrote:
Fri Apr 16, 2021 6:18 pm
I personally don't see all this printing as an issue
Screenshot_20210416-211723_Messenger.jpg
Not sure what it looks like now since they discontinued the graph
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jamesg46
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alexmr2 wrote:
Fri Apr 16, 2021 9:20 pm
jamesg46 wrote:
Fri Apr 16, 2021 6:18 pm
I personally don't see all this printing as an issue
Screenshot_20210416-211723_Messenger.jpg

Not sure what it looks like now since they discontinued the graph
Is this a graph you're sceptical of, or not? I only ask because of your scepticism of other graphs.

I understand people are concerned. I'm not an economics expert so I have no debate. I just see it differently... could be 100% wrong.
jamesg46
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What i would suggest is though, do some research on penny stocks, you're in a unique position and that's why I think you would do good to leave your initial deposit and ride the fluctuations, but take the profit. Most penny stocks trade at a different decimal place. What you have is a position that is trading relative volatility to a low float stock (i know its not a stock before I get corrected).
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alexmr2
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jamesg46 wrote:
Fri Apr 16, 2021 9:59 pm
Is this a graph you're sceptical of, or not? I only ask because of your scepticism of other graphs.

I understand people are concerned. I'm not an economics expert so I have no debate. I just see it differently... could be 100% wrong.
It makes sense to me that it's the true graph of how much money has been printed (it's the US but here is similar)

Most businesses are shut down and not paying tax
Employees being paid furlough or stimulus cheques/enhanced dole instead of paying tax
£39 billion spent on test and trace, £2.7 billion spent on PPE, billions spent on apps and security guards... the list goes on

Basically public spending is through the roof at the same time not much revenue is being generated

All the money has to come from somewhere so they've just gone to the magic money tree, it can't come from nothing because it isn't sustainable otherwise no one would ever need to work at all
Last edited by alexmr2 on Fri Apr 16, 2021 10:29 pm, edited 1 time in total.
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alexmr2
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jamesg46 wrote:
Fri Apr 16, 2021 10:20 pm
What i would suggest is though, do some research on penny stocks, you're in a unique position and that's why I think you would do good to leave your initial deposit and ride the fluctuations, but take the profit. Most penny stocks trade at a different decimal place. What you have is a position that is trading relative volatility to a low float stock (i know its not a stock before I get corrected).
I decided just to leave it long-term to diversify from my other capital, it's only a small % so doesn't make too much difference
jamesg46
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alexmr2 wrote:
Fri Apr 16, 2021 10:27 pm
jamesg46 wrote:
Fri Apr 16, 2021 9:59 pm
Is this a graph you're sceptical of, or not? I only ask because of your scepticism of other graphs.

I understand people are concerned. I'm not an economics expert so I have no debate. I just see it differently... could be 100% wrong.
It makes sense to me that it's the true graph of how much money has been printed (it's the US but here is similar)

Most businesses are shut down and not paying tax
Employees being paid furlough or stimulus cheques/enhanced dole instead of paying tax
£39 billion spent on test and trace, £2.7 billion spent on PPE, billions spent on apps and security guards... the list goes on

Basically public spending is through the roof at the same time not much revenue is being generated

All the money has to come from somewhere so they've just gone to the magic money tree, it can't come from nothing because it isn't sustainable otherwise no one would ever need to work at all
The thing is, more revenue is being created. If you dilute the value of any currency it's more attractive to buy goods from that country. The same debate exists with taxes, raise them & businesses leave, lower them & there is more incentive to do business, thus creating tax revenue through employee tax rather than employer tax.
Zenyatta
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The crypto thing has gone mad, the world's truly lost it's mind :lol:

The joke coin 'Dogecoin' (which was in fact created as a joke) has gone through the roof after being heavily 'pumped' by Elon Musk, and now has a market capitalization of $50 billion. There's absolutely no rationality to any of this. It's a frenzy, like the infamous 'Tulip mania'. Not sure where it will end, but Dogecoin really is going 'to the moon'.

https://financialpost.com/fp-finance/cr ... ency-craze

"Dogecoin rises from joke to $50 billion amid cryptocurrency craze

Dogecoin, boosted by Elon Musk and Mark Cuban, rallied 180 per cent Friday, and is up 18,000 per cent from a year ago"
Zenyatta
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The NFT thing is also nuts. As far as I tell, it's just something like a digital autograph - it's a crypto-token that is basically just a 'pointer' to the works of an artist stored as digital files. Apparently anything with a high-tech sounding name (even if it's essentially worthless) now has people happy to throw an endless torrent of money at it.

"NFT sales top $2 billion in first quarter, with twice as many buyers as sellers"

https://www.cnbc.com/2021/04/13/nft-sal ... omers.html

Where do we get in the game? :D Just need to come up with some weird sounding crypto-app that doesn't have any value but seems cool, to make a quick billion!
jamesg46
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Zenyatta wrote:
Sat Apr 17, 2021 5:55 am
The crypto thing has gone mad, the world's truly lost it's mind :lol:

The joke coin 'Dogecoin' (which was in fact created as a joke) has gone through the roof after being heavily 'pumped' by Elon Musk, and now has a market capitalization of $50 billion. There's absolutely no rationality to any of this. It's a frenzy, like the infamous 'Tulip mania'. Not sure where it will end, but Dogecoin really is going 'to the moon'.

https://financialpost.com/fp-finance/cr ... ency-craze

"Dogecoin rises from joke to $50 billion amid cryptocurrency craze

Dogecoin, boosted by Elon Musk and Mark Cuban, rallied 180 per cent Friday, and is up 18,000 per cent from a year ago"
Yep & it's amazing! Never before has mankind been so measurable.

Elon Tweets & it can be measured like an earthquake... desperation quake.
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Kai
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Zenyatta wrote:
Sat Apr 17, 2021 5:55 am
There's absolutely no rationality to any of this.
People love memes and it's cheap enough to buy.

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