The bitcoin rate is not regulated by anyone, as far as I know and to what extent this can be possible. However, there are factors that affect the rate of bitcoin and other cryptocurrencies.
Now, after a long period of growth, the price of bitcoin has fallen below $40,000.

 

Simply ignore every youtuber every news right now the trend and the narrative is AVAX and LUNA.
Both crashed big time 70%-85% down this is the best time to buy as much as you can don't worry about Bitcoin
Bitcoin maybe a good buy at $26,000 I think Bitcoin will start to bullrun from 2022 october because of the 4 year "BTC halving"
Until then today if I would have $10k to put into crypto I would put $6500 into AVAX and $3500 into LUNA.
The reason is: AVAX announced like a month ago that subnets are coming to the chain so I believe a lot of teams-developers will start new projects on the chain on subnets and it is going to be very fast (transactions) and very low gas fees.
So AVAX right now has a lot more to offer but I would not miss the LUNA run again LUNA can reach $95-$110 easily that's almost a 3x from today's price and I think AVAX will do even better in the next bullrun.
Always remember to buy the blood buy the fear once you are in at a low price you don't have to worry anymore.
I would suggest crypto.com as the exchange to buy things I heard very bad things about Binance like people were unable to take their money out Binance has frozen some people's accounts I know someone who has about $25k locked in Binance and he can not take his money out Binance simply freeze his assets without any warning frickin criminals.

 

this is spot on. Ive seen people dump thier life savings on crypto and lose their entire portfolio because they bought into a hyped shitcoin the devs pumped and dumped on launch. If you're investing in anything, do your own research.

 

My only holding which I will hold until I become a millionaire or it goes to $0 is XRP. Laugh at me if you want

 

Nothing to laugh at as far as I'm concerned. You have a well set out plan.

 

I have zero clue about investing and am wondering if it's still worth it for someone who hasn't been into it until now and who's new to it. The market seems very volatile to me and like quite a risk. Also more and more attempts by states to regulate and maybe control or subdue it. Too much that can go wrong, it seems to me.

 

I agree with you there, it is way too much risk:

- A state suddenly decides not to take cryptocurrency.
- You forget or misplace your password
- The power goes out for a long time
- It's digital only and not analog
- You become a victim of criminal hackers
- The Bitcoin price collapses / Luna rate collapses and pulls the Bitcoin rate below $30,000 (10.05.2022)

Forgotten password for Bitcoin / Two more attempts to get 200 million euros
- The programmer Stefan Thomas owns a fortune worth millions - in the cryptocurrency Bitcoin.
But because he can't remember certain access data, he may never get his hands on it again. What now?

 

Last edited: May 11, 2022

It´s like the most stupid thing I´ve ever see in my entire life. For multiple reasons: Trilloins and Trillions of GPU and CPU cycles used in a nosense with no actual value for the humanity. Can you imagine all those cycles used, you know, molecular research, AI research, understanding of the universe research, medical research, art? but no, let´s create some speculative vehicle that will not get us anywhere, that burns Hundreds of Gigawatz by the hour for no other reason than make some rich people belive in the ilusion of being even richer, all in a context of climate change and scarcity of raw materials. Let´s disrupt the creative and the scientific market by hoarding the tools they need to perform their work just because we have to mine a fucking block. It´s fucking geniuses. Let´s buy an entire hooverdam just to mine stupid numbers and proclame ourselves the more sustainable crypto fuckers on the earth.

A monetary system with so much freedom that you can rob other people of their cryptos and they can´t do anything about it, they are all valid transactions. And the fucking consensus of the chain and the validators and all that stupid mumbo jumbo. A system where Satosi proclaim that cryptos lost by death, by accident, by force are all good thing that put more values in the ones that remain. And keep the lights up, we have to make another transaction that uses the electricity of your house for a year just to tell Peter that you buy his NFT dumbery with Eths.

It would be a lot funnier if I didn´t have kids.

 

Thank you for the insight. I don't know much about Bitcoin yet. Is it like that, that you have a password for it? It's my understanding that you can host your own wallet, and that you can print that stuff, so it exists outside a computer. So that would be safe, no?

That sucks for Thomas though. I also heard of people who threw laptops away and later realized there's millions worth of Bitcoin on there, ouch!

 

Bitcoin is one of many cryptocurrencies. There are approximately between 12,000 and 16,000 cryptocurrencies and it is an unregulated market. Bitcoin is supposed to be the most secure.

It was clear that with the invention of the smartphone, the money would flow again, millions of companies, developers, software designers and even digital money advocates, rushed greedily to the new market to take profits.

The banking companies laid off many of their employees, because the user at home and on the phone, now made his banking transactions online and at home itself. You, the user, are actually taking some work away from the banks.

Now the criminal people came, on the idea, since the burglary risk to be caught is always high, to deal with the smartphone, online banking to come very easily with little risk to the money of honest people. Today, computers of companies are encrypted by ransomware and transactions are no longer carried out in cash, cash transfer is very risky, but conveniently with cryptocurrency. In most cases, the police cannot trace where the money ended up.

Everything that is digital - is not safe.

A gold coin or a small gold bar has been a lasting value for thousands of years. If a whole state or some banks go bankrupt, gold what you have at home is always the safest investment.

Having some cash at home is important because if the power goes out or the bank goes bankrupt, you are solvent. In a bank crash like in Cyprus 2009 for example, all assets over 100 000 € were gone overnight.

In Greece, only 50 € came out of the ATM. You can also invest your money in whisky, which does not go bad and in case of crisis it is a good medium of exchange - 1 bottle of whisky = 1 sack of potatoes.

 

Where I live, now you need to pay a total of 69% tax on your profits from crypto.

 

A bought 250$ of Octans in 2021 and cashed out 8000$. Fun!
Today though it's a totally different story/scenario. Just look at the BTC (and LUNA) dip/bounce today. Holy shit!
Edit: Yeah, I'm grabbing a bag of LUNA on the bounce. $$

 

Last edited: May 12, 2022

A good business for the state to steal from its citizen.

An old proverb says: In the past it was called theft, today it is called taxes.

 

the only thing i notice in this "thingy" is :
only people with money can create farms with computers in it to "dig" for bitcons.
So its just another thing for "ialreadyhavemoney" people. And of course it helps scams.
So most of governments are ok with it.. The rest is bs, myth, shenanigans, excuses .... whatever.
The value of the "money" can still be manipulated bythe richest, i dont see any differences. Just another disease of sick capitalism

 

the title cryptocurrency is a bit of a misnomer. cryptoSpeculativeAsset is a bit more accurate -- 'asset' is used in the loosest terms possible. stackedOnlineGambling is perhaps even more accurate.


-- if you want a good picture of the market, do not -- repeat -- do not listen to crypto-people, like people are suggesting in this thread. try to find a neutral, or even skeptical sources.

 

@BEAT16
Thank you for your elaborations.
I must admit I am sceptical about precious metals, precisely because in order for them to make sense, you need to store them at your home (instead of having them stored somewhere else, or having merely derivatives or similar on them). And if you have them at home, you are responsible for their security, and I would feel very uncomfortable with that. Burglars nowadays are very proficient and they find hidden stuff pretty easily. Also a fire can destroy your savings or at least significantly lessen their value. Not sure about metals IMO.

Do you think after a financial crash, cash money will still be worth something? I've been trying to read up on this subject but it's hard because there's a lot of people who just want to induce panic, and also conspiracy theorists, out there. Hard to find reliable information on these things.

 

can cost a lot time where one could make rather music

 

The biggest scam in the history of the world is the US dollar.

 

My advice is at the earliest opportunity, when you're at a decent profit percentage, to take your initial investment out. In that scenario you can't lose even if it goes to zero, at which point everybody would buy more anyway, including you. Greed is everybody's downfall in crypto.

 

Last edited: Sep 13, 2023

Economist Michael Hudson on decline of dollar, sanctions war, imperialism, financial parasitism

Principles for Dealing with the Changing World Order by Ray Dalio

Spoiler: The message at the end of the year is "Game soon over"

The message at the end of the year is "Game soon over"

Ernst Wolff /13.12.2018 Unfavorable factors accumulate: Central banks at the end of their tether, speculative bubbles, investment crises, political unrest.

The financial world is at a turning point at the end of 2018. For almost a decade, central banks have kept the global financial system alive artificially by creating trillions of dollars, euros, pounds sterling, Japanese yen and Swiss francs out of thin air and issuing them at ever lower interest rates.

In doing so, they initiated a development that no one could have foreseen: the financial markets have broken one record after the other in a decade. But the whole thing also had a downside, because the measures led to the following worrying developments:

– less and less money flowed into the real economy in relation to the financial markets;
– Tax revenue could not keep up with monetary developments because of the intensive practice of tax avoidance in the financial sector;
– public investment fell;
– the infrastructure fell apart worldwide;
- Conservative investors such as insurance companies, annuity and pension funds were forced to speculate and take disproportionately high risks,
- Pension provision through savings was made more difficult and paved the way for a future increase in old-age poverty;
– Private households, companies and governments became increasingly indebted;
– more and more investors entered the financial markets with borrowed money;
– the biggest bubbles of all time arose on the financial markets;
– social inequality exploded worldwide.

Since this development is now threatening the existence of the global financial system, the central banks, led by the Fed, have been replacing their “ultra-loose” or “loose” monetary policy with a “slightly tighter” monetary policy for some time – in other words, they are slowing down or even reducing and increasing the flow of money the interest rates.

Starting in 2015, the Fed raised its key interest rate in several very cautious steps to 2.25 percent and is currently reducing its balance sheet, which has grown to more than $4.5 trillion, by around $50 billion a month. The ECB began reducing its bond purchases in March 2016 and intends to suspend them entirely from the beginning of 2019.

This tightening of monetary policy acts on the financial markets like drug withdrawal on an addict and therefore leads to dangerous instability. But not only that: it hits the system at a time when it is already confronted with an accumulation of problems: the trade war staged by the USA, the Italian banking crisis, the resistance on the streets in France, the sanctions against Iran , the flight of capital from the emerging countries, the derivative sector, which is becoming increasingly threatening in the background, the unregulated shadow banks and an incipient global recession.


Unimaginably high numbers of financial casinos

The Zurich finance professor Marc Chesney has put the dangerous development of the speculative bubbles in figures.

A look at Switzerland shows that the nominal value of Credit Suisse derivatives in 2017 was CHF 28,800 billion. That was roughly 36 times their total assets and 687 times their equity. For comparison: the value of these products corresponded to about 43 times the GDP of Switzerland and a little more than a third of global economic output. In the same year, the nominal value of UBS 's derivatives was CHF 18,500 billion and was 20 times its total assets or 361 times its equity. It accounted for 28 times Swiss GDP and around a quarter of global economic output.

The derivatives volume of Deutsche Bank also shows a similar picture. In 2017 it was worth 48,265 billion euros. This was 33 times her total wealth and 708 times her equity. It was about 15 times the German GDP and accounted for about 67 percent of global economic output. Between 2008 and 2018, the shadow banking sector has developed strongly - such as Black Rock , which is actually "too big to fail" and manages assets of more than 6,000 billion dollars. This sector is particularly opaque and possesses an unsettling power.


The coincidence of black swans, ie a possible trigger for a system collapse, could not be more unfavourable. Should the central banks nevertheless stick to their restrictive monetary policy, the development on the financial markets can be divided into the following three stages:

1. Stage (we're in right now): With the withdrawal of money, there's less speculation, and prices begin to fall. The first investors who entered the markets with borrowed money are withdrawing, causing prices to fall further. Forced to speculate, conservative investors get nervous and sell, driving prices down even further.
2. Stage: The high level of debt of many market participants is becoming increasingly evident, distrust is growing and leading to ever hesitant lending. As debtors find it increasingly difficult to service their debts, they are forced to sell more and more securities, causing stock market prices to fall further and selling to increase.
3. Stage: Due to the ongoing downward movement on the stock exchanges, the price losses are expanding, the first creditors are demanding their money back from debtors, there are individual insolvencies, which are followed by further and larger ones, which makes even more creditors skeptical and leads to the dreaded "margin call" - a nationwide recovery of debts. As a result, ever higher payments are due in the derivatives area, which even overwhelms the big banks, causes even the coolly calculating stock market professionals to panic and thus sets in motion an unstoppable downward spiral.

The whole process can be compared to an avalanche, which starts slowly at first, then picks up speed and finally with a crash it takes everything and everyone with it.

We are still in the first stage of this process. But that doesn't mean that there won't be a crash soon, because nobody can predict the speed at which things will happen and interact. But one thing can already be said: Even if the central banks, fearing a collapse, should throw their tighter monetary policy overboard and start pumping money into the markets again in a panic at even lower interest rates (i.e. negative in the case of the ECB), they will only ignite a temporary flash in the pan, but can no longer prevent the later collapse.

The message from the global financial sector at the turn of the year 2018 is: the casino is closing its doors, the game is over.
************************************************** ********
Infosperber DOSSIER: "The financial casino threatens the global economy"
******************************* ***************************

Subject-related interest of the author
Ernst Wolff is a freelance journalist. He has published the books
“Finanz Tsunami – How the global financial system threatens us all” , edition e. wolff, CHF 27.90.
and "World Power IMF - Chronicle of a Raid" , Tectum-Verlag, 26.90 CHF.

 

Last edited: May 11, 2022