Crypto

Discussion in 'Free Speech Alley' started by LSUpride123, Jul 14, 2020.

  1. Winston1

    Winston1 Founding Member

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    I’ve seen them that advertise they have bitcoin but haven’t looked at the details. They’re on Circle Ks in Covington
     
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  2. TBTrumpet

    TBTrumpet Founding Member

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    Tesla bought 1.5 billion dollars in bitcoin earlier this week. There's talk about other S&P500 companies converting some of their cash into bitcoin. Meanwhile my returns went from +170% to +225%. It was a good week.
     
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  3. LSUpride123

    LSUpride123 Let's have a drink.

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    Yea. ADA is up big for me. As well as VGX (voyager). I use their app.
     
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  4. LSUpride123

    LSUpride123 Let's have a drink.

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  5. TBTrumpet

    TBTrumpet Founding Member

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    Bitcoin to the moon!!!!

    Actually, I expect it to crash soon, but only down to $50k. Right now, it’s the best preforming asset in my portfolio.
     
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  6. LSUpride123

    LSUpride123 Let's have a drink.

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    Hope you guys are paying attention to the printing. We cannot just print money with nothing happening on the backend. damn near an additional $5 Trillion since 2020 in stimulus printing.

    They are making our money worthless. This is why I have said our national debt is meaningless. US government just prints and prints and prints.

    Think of it like this.

    In 2020, the Tax revenue was $3.42 Trillion. SO much is made about the budget and what is over/under spent, but that is not the important number.

    The 2020 budgeted spend was $4.79 Trillion.

    So, if that were the case, the government pre-planned to print an additional $1.37 Trillion to cover spending.

    What really happened was the government spent $6.55 Trillion. Again, ignore debt and deficits. This doesn't matter. The only thing that matters any year is the the amount the government prints relative to receipts.

    Think of it like this. 2020 was so bad that for every 1 dollar the government took it, it was so worthless they needed to print an additional dollar.

    Did your assets increase by 25%? 50%? 100%? Unfortunately, unless you are getting a 30% raise every year or your assets are increasing by at least 30%, you are likely still behind the real inflation curve that is being hidden by printing.

    So if the total money supply is say, $20 Trillion and the government prints say $2 Trillion, they instantly devalued your money by 10% that year alone. Since March of last year, we have printed a new $5.13 Trillion and 2021 isn't over. Actual yearly inflation is over 25% right now.

    [​IMG]
     
    Last edited: Mar 13, 2021
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  7. Winston1

    Winston1 Founding Member

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    Excellent point @LSUpride123. Whether crypto is the solution or not is beyond me. However the saving grace for now at least has two legs. First the dollar is the world’s reserve currency and no other country’s currency is close. No one trusts the Chinese so it’s unlikely theirs will ever replace the dollar. At this time there is no other country whose currency has enough mass to replace us. Certainly the EU can’t find its ass with both hands.
    The second leg Is the sheer number of US $100 bill in circulation world wide. Again that there is nothing to replace the dollar is a bulwark.
    I agree with everything you say but don’t think we can predict timing at all. Things will be fine until they’re not.
     
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  8. LSUpride123

    LSUpride123 Let's have a drink.

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    For now yes. China, if left unchecked, is the primary target to look at.

    It’s a rigged game I didn’t even understand until recently. Reading about and listening to the absolute absurdity of our feds policy moving forward is scary. People don’t care because they are getting a little check. The big money is flowing to the cabal.
     
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  9. TBTrumpet

    TBTrumpet Founding Member

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    I’ve started adding a little bit of Etherium in addition to my regular Bitcoin purchases.

    What are y’all doing? Buying or hodling?
     
  10. LSUpride123

    LSUpride123 Let's have a drink.

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    Holding and buying. BTC, ADA, VGX.
     
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