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Shit’s on fire and I like it. The FED is totally fucked and it doesn’t matter what they do at this point. Bailout or bloodbath.
haha. It’s monetary policy, not conspiracy theory. The FED spent the last 10+ years dumping massive amounts of money into the securities markets, something like 13T in QE alone. Interest rates have been at historic lows now for basically a decade. Wall Street is drunk on cheap and easy money and they are all now way over-leveraged. The REAL economy is saying hyperinflation and action needs to be taken, like, 9 months ago, but because the FED has painted themselves into a corner with their terrible policies, and their only ways through it aren’t pretty.
Why do you like that? Do you think that when the global financial system collapses, everyone is going to march in an orderly fashion over to the unit of currency you happen to have stockpiled? Cool!
haha. It’s monetary policy, not conspiracy theory. The FED spent the last 10+ years dumping massive amounts of money into the securities markets, something like 13T in QE alone. Interest rates have been at historic lows now for basically a decade. Wall Street is drunk on cheap and easy money and they are all now way over-leveraged. The REAL economy is saying hyperinflation and action needs to be taken, like, 9 months ago, but because the FED has painted themselves into a corner with their terrible policies, and their only ways through it aren’t pretty.
If you really believe this stuff, which I sure as hell don't, and are rooting for what you seem to believe is a 2008 style financial collapse, you should keep that to yourself.
haha. It’s monetary policy, not conspiracy theory. The FED spent the last 10+ years dumping massive amounts of money into the securities markets, something like 13T in QE alone. Interest rates have been at historic lows now for basically a decade. Wall Street is drunk on cheap and easy money and they are all now way over-leveraged. The REAL economy is saying hyperinflation and action needs to be taken, like, 9 months ago, but because the FED has painted themselves into a corner with their terrible policies, and their only ways through it aren’t pretty.
If you really believe this stuff, which I sure as hell don't, and are rooting for what you seem to believe is a 2008 style financial collapse, you should keep that to yourself.
Fact not belief. Everything I said above is factual. Has the fed pumped 13T into the market? Yes, and they continue to do so. Last time I checked, to the tune of 120B each month, 80B in Treasuries, and 40B in MBS (you know the securities that crashed the market in 2008). Are FI’s overleveraged (drunk on money)? Fact again. Again these are reportable numbers. Interest Rates have been at historic lows. Again Fact. Is inflation high? Again fact. What I’m saying about economic numbers and the FED is pretty mainstream, you know, stuck between a rock and a hard place.
And if you just looks around, I’m not sure how anyone can honestly say “this economy is working pretty well for us right now”.
If market crash means we can get rid of the old system and build something better, maybe with the blockchain, then crash away.
If you really believe this stuff, which I sure as hell don't, and are rooting for what you seem to believe is a 2008 style financial collapse, you should keep that to yourself.
Fact not belief. Everything I said above is factual. Has the fed pumped 13T into the market? Yes, and they continue to do so. Last time I checked, to the tune of 120B each month, 80B in Treasuries, and 40B in MBS (you know the securities that crashed the market in 2008). Are FI’s overleveraged (drunk on money)? Fact again. Again these are reportable numbers. Interest Rates have been at historic lows. Again Fact. Is inflation high? Again fact. What I’m saying about economic numbers and the FED is pretty mainstream, you know, stuck between a rock and a hard place.
And if you just looks around, I’m not sure how anyone can honestly say “this economy is working pretty well for us right now”.
If market crash means we can get rid of the old system and build something better, maybe with the blockchain, then crash away.
comp is way up at every IB and PE shop, they seem very happy with the way things are right now
Post by Silver Surfer on Feb 10, 2022 9:58:15 GMT -5
This chart illustrates BTC's price in USD since this thread was created. Thought itd be fun to look at. To me it looks like we might have one more rally ahead cause I'm a big believer in the "everything comes in threes"
If you really believe this stuff, which I sure as hell don't, and are rooting for what you seem to believe is a 2008 style financial collapse, you should keep that to yourself.
Fact not belief. Everything I said above is factual. Has the fed pumped 13T into the market? Yes, and they continue to do so. Last time I checked, to the tune of 120B each month, 80B in Treasuries, and 40B in MBS (you know the securities that crashed the market in 2008). Are FI’s overleveraged (drunk on money)? Fact again. Again these are reportable numbers. Interest Rates have been at historic lows. Again Fact. Is inflation high? Again fact. What I’m saying about economic numbers and the FED is pretty mainstream, you know, stuck between a rock and a hard place.
And if you just looks around, I’m not sure how anyone can honestly say “this economy is working pretty well for us right now”.
If market crash means we can get rid of the old system and build something better, maybe with the blockchain, then crash away.
Post by JustKillingTime on Feb 16, 2022 14:35:02 GMT -5
im generally pretty skeptical of the actual use cases of crypto, its more of a speculative investment vehicle for me.
that being said, would like to see the proposed stablecoin legislation pass. that would surely cause tether to collapse and crash the market, which would be a great buying opportunity.
im generally pretty skeptical of the actual use cases of crypto, its more of a speculative investment vehicle for me.
that being said, would like to see the proposed stablecoin legislation pass. that would surely cause tether to collapse and crash the market, which would be a great buying opportunity.
If Ethereum can scale, it will be a game changer. People can shit on NFTs as being a “jpeg” but the underlying technology and its applications is massive.
It’s probably a lazy comparison but 2022 crypto feels analogous to the 2000 Internet bubble. It’s very much the wild Wild West right now. Eventually, there will be a reckoning with much of the industry and a lot will get purged and become worthless. It’s just a matter of time. When the dust settles, my guess is that a small number of crypto companies / tokens / protocols will emerge just as Amazon, Google, and some of the current internet giants did after the dot-com bubble.
Last Edit: Feb 16, 2022 21:56:04 GMT -5 by ZIG - Back to Top
im generally pretty skeptical of the actual use cases of crypto, its more of a speculative investment vehicle for me.
that being said, would like to see the proposed stablecoin legislation pass. that would surely cause tether to collapse and crash the market, which would be a great buying opportunity.
If Ethereum can scale, it will be a game changer. People can shit on NFTs as being a “jpeg” but the underlying technology and its applications is massive.
It’s probably a lazy comparison but 2022 crypto feels analogous to the 2000 Internet bubble. It’s very much the wild Wild West right now. Eventually, there will be a reckoning with much of the industry and a lot will get purged and become worthless. It’s just a matter of time. When the dust settles, my guess is that a small number of crypto companies / tokens / protocols will emerge just as Amazon, Google, and some of the current internet giants did after the dot-com bubble.
care to share the how and the why NFTs other use cases are better than current methods?
If Ethereum can scale, it will be a game changer. People can shit on NFTs as being a “jpeg” but the underlying technology and its applications is massive.
It’s probably a lazy comparison but 2022 crypto feels analogous to the 2000 Internet bubble. It’s very much the wild Wild West right now. Eventually, there will be a reckoning with much of the industry and a lot will get purged and become worthless. It’s just a matter of time. When the dust settles, my guess is that a small number of crypto companies / tokens / protocols will emerge just as Amazon, Google, and some of the current internet giants did after the dot-com bubble.
care to share the how and the why NFTs other use cases are better than current methods?
at its very simplest, NFTs are a decentralized and autonomous way of providing ownership of intellectual property. It’s effectively a contract.
Take music. Today if I want to buy digital music, I would typically go to iTunes, pay and download that music. I paid for that music, yet Apple is still fully in control of that ownership. If they cancel or lock you out of your account or just decide to delete your music, etc., you are shit out of luck. With a music NFT, if you buy it, it’s yours, you own a copy in your wallet, no one can remove it or delete it. Additionally, the music industry is known for being terribly inefficient with a ton of middlemen where the artist gets screwed out of their money for the music they create. NFTs and their smart contract capabilities alllow for things like getting a cut when your NFT is resold, etc. So an artist could sell 10,000 copies of an album make money. Then if people started reselling those copies, that artist would continue to get a cut.
Take gaming, NFTs currently get a ton of hate, but think of all the games people play where they either build up vast amounts of in-game credits, loot, power-ups, etc. When game developers start releasing their games as NFTs, just like music, People could buy a game and play it for 3 months, decide to resell it on an “NFT Marketplace” and make some of my initial money back. The game developer would get incremental revenue not currently available to them on the resell. Additionally, making those in-game items NFT would allow those gamers to resell them to recoop their expense.
Thinking even more broadly, NFTs could be used to signify ownership in everything in your daily lives. Big ticket purchases like stock, real estate, car titles. Identify validation for documents like passports, licenses, medical records. Ownership of digital goods like music, videos, audio books.
Companies like Adidas and Nike are working on NFTs so that you could purchase a physical good like a sneaker or a tshirt and have it shipped to your home and that purchase would give you an NFT for the digital version of that item. You would then be able to use that digital sneaker or tshirt in game as a clothing accessory. And again, if you wanted to sell that digitize sneaker, you’d be able to sell it on an NFT marketplace, recoop some of your initial investment of your physical item, and company that created the NFT sneaker (Nike or Adidas) would get a cut of that resale.
Last Edit: Feb 17, 2022 11:41:43 GMT -5 by ZIG - Back to Top
Post by Delicious Meatball Sub on Feb 17, 2022 12:00:36 GMT -5
I agree that there are reasonable uses for NFTs if you just view them as a certificate of authenticity that rides with a collectible. But for the music example, if you think resale proceeds are going meaningfully flow to artists instead of labels/middle men (if at all) you’re crazy.
care to share the how and the why NFTs other use cases are better than current methods?
at its very simplest, NFTs are a decentralized and autonomous way of providing ownership of intellectual property. It’s effectively a contract.
Take music. Today if I want to buy digital music, I would typically go to iTunes, pay and download that music. I paid for that music, yet Apple is still fully in control of that ownership. If they cancel or lock you out of your account or just decide to delete your music, etc., you are shit out of luck. With a music NFT, if you buy it, it’s yours, you own a copy in your wallet, no one can remove it or delete it. Additionally, the music industry is known for being terribly inefficient with a ton of middlemen where the artist gets screwed out of their money for the music they create. NFTs and their smart contract capabilities alllow for things like getting a cut when your NFT is resold, etc. So an artist could sell 10,000 copies of an album make money. Then if people started reselling those copies, that artist would continue to get a cut.
Take gaming, NFTs currently get a ton of hate, but think of all the games people play where they either build up vast amounts of in-game credits, loot, power-ups, etc. When game developers start releasing their games as NFTs, just like music, People could buy a game and play it for 3 months, decide to resell it on an “NFT Marketplace” and make some of my initial money back. The game developer would get incremental revenue not currently available to them on the resell. Additionally, making those in-game items NFT would allow those gamers to resell them to recoop their expense.
Thinking even more broadly, NFTs could be used to signify ownership in everything in your daily lives. Big ticket purchases like stock, real estate, car titles. Identify validation for documents like passports, licenses, medical records. Ownership of digital goods like music, videos, audio books.
Companies like Adidas and Nike are working on NFTs so that you could purchase a physical good like a sneaker or a tshirt and have it shipped to your home and that purchase would give you an NFT for the digital version of that item. You would then be able to use that digital sneaker or tshirt in game as a clothing accessory. And again, if you wanted to sell that digitize sneaker, you’d be able to sell it on an NFT marketplace, recoop some of your initial investment of your physical item, and company that created the NFT sneaker (Nike or Adidas) would get a cut of that resale.
my understanding of how they work is that the actual NFT is space in a blockchain that says address x owns y. but y can't actually store the data for a .mp3 file for example, that needs to be hosted somewhere else. you listed a bunch of areas, but I don't see why you need an NFT to do these, if the underlying asset or data can't be held on chain, which is where the "security" and "trust" lie.
Post by JustKillingTime on Feb 17, 2022 12:56:21 GMT -5
beyond that - nothing is stopping artists/game designers/etc from selling direct to their customers. Digital ownership doesn't require NFTs. Turning everything we interact with into a commodity that can be sold and resold does, but why is that better for anyone?
beyond that - nothing is stopping artists/game designers/etc from selling direct to their customers. Digital ownership doesn't require NFTs. Turning everything we interact with into a commodity that can be sold and resold does, but why is that better for anyone?
Sure, but sell me something for $100 when you are an unknown musician / artist. You then become famous. I sell your art for $10,000,000. I’m rich, you’re still a poor. And Sotheby’s makes their cut.
Remember when Banksy sold his art for under $100 on a street corner to prove this? Those resold for tens of thousands of dollars once they were authenticated at Banksy art and he made nothing else.
beyond that - nothing is stopping artists/game designers/etc from selling direct to their customers. Digital ownership doesn't require NFTs. Turning everything we interact with into a commodity that can be sold and resold does, but why is that better for anyone?
Sure, but sell me something for $100 when you are an unknown musician / artist. You then become famous. I sell your art for $10,000,000. I’m rich, you’re still a poor. And Sotheby’s makes their cut.
Remember when Banksy sold his art for under $100 on a street corner to prove this? Those resold for tens of thousands of dollars once they were authenticated at Banksy art and he made nothing else.
This is an argument for ending the first sale doctrine, not for NFTs.
I say this as someone who is pro-crypto, if you think that NFTs will be used for a higher meaning reason and not just art and essentially trading cards, I think you are going to be let down hard.
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