Modest weakness in stocks this morning has led to a risk off trade, buoying both gold and bonds.
Naturally, bitcoins are soaring too, nearing $2,900. The whole cryptocurrency craze has definitely stolen the rebel thunder from traditional gold bugs, who’ve been trying to disrupt the fiat currency racket for decades. They couldn’t because central banks hold too much of the stuff and have great influence on supply v demand, unlike Bitcoins and other faux currencies. The Fed cannot control it, which is why it’s on a runaway train.
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You’re giving way too much credit to bitcoiners acting as sound money advocates. To most, this is a speculative craze. The majority of bitcoiners think in the fiat junk they used to purchase BTC, and calculate the P/L in the same fiat garbage. They all want to convert their “profit” back into dollars and will get spooked if BTC price drops in terms of the same they used to purchase BTC. It’s bullshit casino gambling, not much else.
True but in the meantime make sure to have a chair for when the music stops.
Guaranteed, when SHTF, au/ag will always be convertible to shitcoins. The reverse may not be true.
No one is ever going to convert Bitcoins back. Buyers priorities in life are Pizzaforcoins and Steam Games.
Jerks… “Amazon offers Prime discount to people on government assistance”
Normally $99 down to $10.50
Marc, why do you think that? What I see is that it will encourage people with little disposable income to buy stuff; but, on the other side if they need something they can probably get it cheaper from amazon than going to target.
Rule the World?
$TSLA called it!
http://ibankcoin.com/mushroomz/2016/12/27/2017-maga-play-tsla-going-to-350/
I heard that the Frog likes to tongue punch dopefella’s dirt star.
LMAO XD
“More sellers than buyers” and vice versa is one of those statements that just needs to die. Those statements imply a popular sentiment that may not exist at all. Yes, there *could* be more sellers than buyers, but it could also just be a couple or even one very large seller or buyer.
I see department stores and apparel sellers are bent over and taking it dry this morning…
Would not want to be in traditional retail right now because I thin the blood letting has just begun.
Bitcoin is going to crash, don’t buy it! A video made for Le Fly, aka Horatio Clawhammered:
https://www.youtube.com/watch?v=XbZ8zDpX2Mg