Another stimulus bill. And then another and another

[Cuddles]

Binance, the name is Binance, get it right, you sound silly calling it Bitfinance....

And although I believe the price of tether is manipulated, there is no way they would be able to create more without putting a halt to all Tether transactions. Every token has a set amount from the beggining like Bitcoin has 21 million tokens.

And someone saying they don't want to trade crypto because tether is created out of "thin air" is like a snake biting it's own tail. Everyone knows american dollars can't be created out of thin air

Binance didn't even invent Tether, that was Bitfinex. The allegation of tether pump has been blown out of proportion to anyone that cares to read on it. Not to mention we've got other stable coins backing the price now.

 

[Trader Curt]

Exactly and soon it will be backed by the Feds own crypto. US Dollar coin, which is made out of thin air

 

[Cuddles]

Exactly and soon it will be backed by the Feds own crypto. US Dollar coin, which is made out of thin air

I want to start mining fedcoin

 

[SimpleMeLike]

And another and another.

So many stimulus Bill's.

Just keep the printing machine on. Print 3 or 4x of our national GDP and rinse and repeat. That should help.


‘It’s not enough’ — Pelosi wants more small business loans, direct payments and unemployment benefits
PUBLISHED FRI, APR 3 20209:44 AM EDTUPDATED MOMENTS AGO

Jacob Pramuk@JACOBPRAMUK




KEY POINTS

• House Speaker Nancy Pelosi says she wants to extend the provisions in the $2 trillion coronavirus relief package Congress passed last week.
• She pushed for more small business loan funding, additional direct payments to individuals and the extension of enhanced unemployment insurance.
• Her comments come after the government employment report showed the U.S. economy lost 701,000 jobs in early March.

https://www.cnbc.com/2020/04/03/coronavirus-update-nancy-pelosi-talks-phase-four-bill.html

I agree with this 100%. I know about 3 people that has been trying to file unemployment for 5 days. The phone number is busy.

Think about the middle class and below first. They need to pay the bills or the banks do not get paid. Then it is over. You have to take care of the people. It is not their fault.

Let them print more money. It is the right thing to do. We can worry about fixing the "printing more money later"

 

[Cuddles]

I agree with this 100%. I know about 3 people that has been trying to file unemployment for 5 days. The phone number is busy.

Think about the middle class and below first. They need to pay the bills or the banks do not get paid. Then it is over. You have to take care of the people. It is not their fault.

Let them print more money. It is the right thing to do. We can worry about fixing the "printing more money later"

That's not how inflation works though

 

[Same Lazy Element]

how'd that work out for these guys?:
https://en.wikipedia.org/wiki/Hyperinflation#Notable_hyperinflationary_episodes

The problem is that given the alternatives (high deflation vs high inflation), we at least have an idea on how to deal with inflation. In either case, we are probably not looking at true hyperinflation (which is usually a product of very specific actions by the government) but rather a high inflation, ranging from 7-12% per year. Painful but it would also have some side benefits.

You mean that thing that has dropped from $10k to $6k losing more in value than the stock market?

You can't really compare the percentage changes for an asset with a total market cap of 250 billion to the ones for a multi-trillion market. In standard deviation terms, bitcoin actually performed marginally better than almost any other asset except for the US treasuries.

 

[Cuddles]

The problem is that given the alternatives (high deflation vs high inflation), we at least have an idea on how to deal with inflation. In either case, we are probably not looking at true hyperinflation (which is usually a product of very specific actions by the government) but rather a high inflation, ranging from 7-12% per year. Painful but it would also have some side benefits.


You can't really compare the percentage changes for an asset with a total market cap of 250 billion to the ones for a multi-trillion market. In standard deviation terms, bitcoin actually performed marginally better than almost any other asset except for the US treasuries.

He's got 'til November. Let's hope for the best

nevermind the title