Crypto is a gamble, not an investment. It has no real use currently. Maybe in place with unstable governments like in the Middle East and Africa it can become used to build markets but without some sort of reserve backing it’s just computer code that does nothing. The wallets is really where the innovation is.
These statements about transitory inflation are bs, it is INFLATION!
- Thread starter wildchild
- Start date
Crypto is a gamble, not an investment. It has no real use currently. Maybe in place with unstable governments like in the Middle East and Africa it can become used to build markets but without some sort of reserve backing it’s just computer code that does nothing. The wallets is really where the innovation is.
My crytpo is just exposure to an asset class and using riskable cash. Not expecting to get wealthy but if it retains value and grows over the next 2-3 years then I can earn a pretty penny.... but I am not necessarily counting on it 
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.My crytpo is just exposure to an asset class and using riskable cash. Not expecting to get wealthy but if it retains value and grows over the next 2-3 years then I can earn a pretty penny.... but I am not necessarily counting on it
To me I’m looking at the lowest level markets like Yemen or Venezuela. Places so destabilized or inflation is so out of whack that a crypto currency may offer more stability than what they’re working with.
As I said earlier, I see the digital wallet as the real innovation in the crypto-sphere. It removes banks from transactions which is really useful almost anywhere. The wallet make digital versions of the dollar, etc possible. There is a lot of potential here.
In 1980, the Fed had a "real man" at the helm... Paul Volker. That's different.
When Powell looked like he was going to do the responsible and necessary things... raise rates and pare the balance sheet, I was feeling relief.
But when the market "squealed", he pussy'd-out and went to full-blown money printing.
NOW he regrets he didn't follow-through on the "right thing" and has an even bigger and more dangerous mess than in 2018. Remains to be seen if he learned his lesson and will stay the course this time... allowing all to "adjust" to the reality of the mess he created.. or will he pussy-out again at the first sign of the market's whining?
We'll just have to see.
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Allan Greenspan would have done it,can't see anyone in recent times stepping in Paul Volcker shoes
Leaders of today cry on national TV
