Do You BitCoin?

[Foxx]

2 hours ago, Bakin said:

Seems like the golden days of ZIRP are coming to a close. 

Not sure there will be much demand for treasuries in the short or long term. 

 

Inflation is classically defined as an increase in the money supply...but banks have sat on that cash for some time and drained monetary velocity. It’s now coming back with a vengeance. 

is NIRP around the corner?

[Foxx]

2 hours ago, plenzmd1 said:

I would think so on ZIRP, prolly overdue by a year or two.

 

Can you explain the bolded? Thank you.(not sure I can google and get a good, succinct explanation, and it sounds interesting)

the Central Banksters created a plan after the financial implosion of '08. where Bears and Sterns, Lehmans and AIG were either bailed out or allowed to fail. it was initially known as TARP but morphed into what we now know and call, Quantative Easing. it came in various rounds I , II, III and IV.  TARP's intent was to pull the financial  realm back from the brink of implosion. QE was designed to save the banks and give them more liquidity. essentially what that did was to print money out of thin air and give it to the banksters. they had screwed the pooch so bad, that unless they were saved there was going to be a 1929 meltdown and a 1930's style recession.

 

what QE did was to increase the money suppy with nothing backing it up other than someone sitting there and punching keys on their computer much the same way you and i do. inflating the money supply with nothing to back it has trickle down effects. it ultimately makes things more expensive. you see this effect in many ways. from smaller packaging to outright price increases to creating demand by creating shortages.

 

there is much more but i would probably go off into a rant about the banksters if i were to continue, so i'll let someone else pick it up from here. 

Edited February 2, 2018 by Foxx

[mead107]

Buy meadcoins today.  Have a special 3 for $10.   

[Foxx]

Mead,

 

BlockCat now has a beta version of their product out. what their platform does is to create smart contracts for the everyday Joe. so , you could create a smart contract for your MeadCoin and actually have a Meadcoin. put something behind it, like a stromboli or something and it would actually have value. you could then issue these MeadCoins, where say a stromboli would cost you 10 MeadCoin.

 

something to think about anyways. 

Edited February 2, 2018 by Foxx

[mead107]

7 minutes ago, Foxx said:

Mead,

 

BlockCat now has a beta version of their product out. what their platform does is to create smart contracts for the everyday Joe. so , you could create a smart contract for your MeadCoin and actually have a Meadcoin. put something behind it, like a stromboli or something and it would actually have value. you could then issue these MeadCoins, where say a stromboli would cost you 10 MeadCoin.

 

something to think about anyways. 

WOW? Want to set it up for me?    Be like Omaha steak ??

[Bakin]

3 hours ago, plenzmd1 said:

I would think so on ZIRP, prolly overdue by a year or two.

 

Can you explain the bolded? Thank you.(not sure I can google and get a good, succinct explanation, and it sounds interesting)

Velocity of money is basically how fast the money is transferred from one party to another. 

Central banks are the creators of money and thus are determinants if initial velocity. 

During the 2008 credit crisis, trillions of Stimulus was thrown at the banks and what did they do?  Instead of lending it out, they sat on it, and generated interest (free money) rather than take risks with it (lending it). Thus slowing velocity to a near crawl. 

They slowly began to release that money into the system and when that happens you see that inflation is am everywhere and always phenomena. Too much cash chasing too few goods causes prices to rise. 

Rising prices, thus, are a SYMPTOM of inflation and not the cause of it. 

[Foxx]

8 hours ago, mead107 said:

WOW? Want to set it up for me?    Be like Omaha steak ??

i can. PM me if serious.

[plenzmd1]

9 hours ago, Bakin said:

Velocity of money is basically how fast the money is transferred from one party to another. 

Central banks are the creators of money and thus are determinants if initial velocity. 

During the 2008 credit crisis, trillions of Stimulus was thrown at the banks and what did they do?  Instead of lending it out, they sat on it, and generated interest (free money) rather than take risks with it (lending it). Thus slowing velocity to a near crawl. 

They slowly began to release that money into the system and when that happens you see that inflation is am everywhere and always phenomena. Too much cash chasing too few goods causes prices to rise. 

Rising prices, thus, are a SYMPTOM of inflation and not the cause of it. 

aghh, interesting. Thank You

[Pine Barrens Mafia]

https://www.reuters.com/article/us-global-markets-bitcoin/bitcoin-tumbles-as-cryptocurrency-sell-off-intensifies-idUSKBN1FM11M

 

Looks like people falling out of love with the currency of nothing.

 

 

[PolishDave]

On 2/1/2018 at 6:07 AM, joesixpack said:

t(o.o)t

 

to all the farmers out there who've driven up costs on GPUs to 3x their value.

 

You're welcome.    No games for you!

[PolishDave]

On 1/31/2018 at 11:52 AM, Jauronimo said:

Today looks like a nice buying opportunity but I'm tapped out for the moment and do not have any additional money to toss into the game.

 

Opened a small position in RIOT yesterday at the close.  Will double that position if it trades as low as $8.50.

 

Kind of wish the selloff had climaxed on a high volume capitulation spike.    It hasn't yet and maybe it will yet.   Although now I would rather it just go higher.  

[Foxx]

is today the bottom? roughly $7600 was touched before bouncing back. 

 

not much longer till it goes to the moon.

Alice

Edited February 2, 2018 by Foxx

[ExiledInIllinois]

 

[plenzmd1]

17 minutes ago, Foxx said:

is today the bottom? roughly $7600 was touched before bouncing back. 

 

not much longer till it goes to the moon.

Alice

I am a bit gunshy right now. Feels like if I want to go long, today is the day, just can't pull the trigger.

[Jauronimo]

I did something foolish yesterday and bought GBTC.  I feel good about buying sub 9,000 BTC.  Not so good about that 50% premium to NAV.  But until a BTC ETF hits the market or some other open ended vehicle, that premium seems like it should persist.

[BringBackFergy]

15 minutes ago, Jauronimo said:

I did something foolish yesterday and bought GBTC.  I feel good about buying sub 9,000 BTC.  Not so good about that 50% premium to NAV.  But until a BTC ETF hits the market or some other open ended vehicle, that premium seems like it should persist.

I've been watching it since you told me about it last week. Tempting at this price for a small position.

[mead107]

Fools. I would have sent you a meadcoin that you can hold in your hand.  

[Foxx]

as should be expected, a retesting of Friday's low. holding so far.

[Misterbluesky]

On 2/2/2018 at 2:26 PM, Foxx said:

is today the bottom? roughly $7600 was touched before bouncing back. 

 

not much longer till it goes to the moon.

Alice

Nope!

UK street bank Lloyd's will no longer accept crypt payments on cc balances..6.8 in UK.

[plenzmd1]

On 1/31/2018 at 2:36 PM, plenzmd1 said:

Nothing to do with bitcoin, but my wife thinks I am nuts for rooting for the dow ( and market in general) to have a nice 6-8% correction, and we are almost 100% long in equities. Feel to much pressure building. While I am not a technical guy, just feels way overbought to me short term.

 

Having said that, I had the agida on the market at 18K, so WTF do i know???

3

hate to quote myself, but looks like I got my wish...now, i need to act happy about it