Its hilarious that we have a political party thats too scared to just get rid of the debt ceiling because of political backlash but then might mint a trillion dollar coin.
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I bought my META position back up to my normal allotment. After reading the last earnings call and researching Reality Labs, I think the market way overreacted to everything going on at META. I don’t think there’s any guarantees for the metaverse stuff, but I think way too much attention is going to Horizon Worlds and that side of it and not nearly enough to the business applications of AR, and some of the products they’ve already tested and will end up getting to market.
Got the additional shares at $93.76 premarket today.
I’d roll the dice on bitcoin if I knew there was about to be a USD debt default tomorrow.
Wasnt sure where I should put it. Its in german with english subtitles. Asking the question if we need economic growth at all costs.
if US gov is going to default or have a currency crisis, everyone and their mother will be say at the same time “This is the end of fiat we should buy bitcoin.” Demand is going to out pace supply imho. Once it starts moving in that direction, it will become a feedback loop and should hit $1m/bitcoin in a month or so.
I’d go with folks panic selling and conserving what they view as protection instead of people deciding to chase losses with speculatory crypto currencies that is more susceptible to fraud during a time with an operating govt that you don’t have anymore.
Usually when we have a crisis the entire world goes into dollars. If the dollar is the crisis where do you go? Swiss francs, loonies Aussie dollars. Gold got to be the favorite but you need physical gold to eleminate counter party risk, so next is Bitcoin, and I think it could be massive because of the lack of liquidity and fragmented market dynamics. Owning physical assets like real estate or farmland are great hedges too but it’s hard to get those in the middle of a crisis.
The biggest problem with Bitcoin would be banks refusing to let you sell your dollars for Bitcoin. If there were to be a true run on the dollar accounts would be frozen and no body would be doing anything until Congress made crypto transaction illegal.
All the on ramps to the crypto market would be inaccessible so you would be left with using the Bitcoin network transactionaly and we know that it really can’t handle all that many transactions. It would be effectively useless for any day to day commerce.
A us government debt default is the economic equivalent of all out thermo nuclear war. Economies would not recover for decades. That’s what is at at stake.
Time for a new thread
If BTC is at $1 million by like Feb next year my only regret is going to be that I didnt put all my money into buying an armed fortress and private militia.
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I feel like there’s really only three questions to ask each day
Am I losing money because of octogenarians shitposting at a fed meeting
Am I losing money because of the worlds richest man shitposting on Twitter
Am I losing money because of gen zers shitposting about each other’s crypto exchanges on Twitter
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Its a bit results oriented atm, but i think you did well and it shouod be good going forward.
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So, Twitter, Meta and now Redfin with massive layoffs.
2 questions.
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Are we looking at the beginnings of a significant recession.
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is now a good time or a terrible time to get into tech and coding?
Depends on your definition of the word significant and the whims of the Fed.
If you are going to spend 2 years learning, now’s a reasonable time to start.
How bout 6 months?