Excellent link Paddy. There can be no doubt where this all finishes up.
Where?
Im not being funny or anything, but when I bought bitcoin at €2,350, the word bubble was being tossed around then too. Now its €16,000.
If it crashes, as The Wolf says it will, will it crash to €5,000, €4,000, €3,000 etc...all the way to zero?
Unfortunately The Wolf is not clear on this. In fact, when the interviewer suggests crypto currencies are here to stay, The Wolf avoids a direct answer.
It crashes, corrects, recovers, moves on.
The transaction role of cryptocurrency will probably be taken over by some other crypto not subject to such volatility.
The transaction role of cryptocurrency will probably be taken over by some other crypto not subject to such volatility.
I'm not sure if owning a Bitcoin even gives you any connected ownership of this technology.
It's all open-source and free for all, so there are no royalty or intellectual property strategy plays here.
None whatsoever. It's all open-source and free for all, so there are no royalty or intellectual property strategy plays here.
The idea that bitcoin is open source, like the idea that it is limited in supply is true but misleading.
there is a certain comfort in knowing that the ECB is backing the Euro when it comes to my money. Whether rightly or wrongly we saw in 2008 the lengths the EU/ECB, US etc went to to ensure the stability of the FIAT money system.
That is disappointing fpalb - I had no idea you were a paid up member of Shortie Syndrome, so much of what you said hitherto-fore was common senseI'm going to go with 'wrongly', as they ensured the stability by subjecting me to austerity even then though I've never even taken a bank loan and had no personal contribution to the failure of the system.
Privatised profits but socialised losses. Why? because the banks were too big to fail. OK, I get it the banks fail, no one can get their money, no one can get paid, because we are dependent for modern day-to-day currency use on private institutions that incur systemic risk to themselves via loans.
Seems to me like the right solution would be to no longer make us dependent on those institutions so that if they fail, they can be let fail and the consequences of that would fall on their executives, investors and perhaps customers, but not on me should I not choose to be in any of those groups.
I also don't have much confidence that the problems that Greece or Spain or Italy were having with their economies are fixed or the can was just kicked further on, are we going to be surprised if it all resurfaces again soon? I'm open to being educated on this if someone knows more than I do.
You say you are a big loser from austerity. The only significant losers from austerity were the public servants.
The only significant losers from austerity were the public servants.
Past performance is no indication of future performance
You really believe that? It's an extreme view for me to feel aggrieved that the cost of the bank failures was socialised?
Fun thought experiment: everyone here should add up the extra USC they paid due to austerity, work out how much bitcoin it could have bought you at the time, and how much it would be worth to you now. There's the upper limit on your opportunity cost
Less fun thought experiment: work out how many people suffered or died either directly or indirectly due to public service funding cuts.
Have you lost your mind? Ever seen those L'Oréal ads? We're worth it dude. We don't have to live within our means.Austerity means you leave within your means, you do not borrow to finance your lifestyle. What is wrong with that?
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