slyfox07 said:

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Also, anybody buying or building a house right now is insane.

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I think that depends on where you're buying and how long you're playing to stay in the home.

Regardless of location though, If you're buying/building your first home in a "starter" neighborhood for 20% more than what it cost 12 months ago, and only planning on staying 5-7 years, then you're playing with fire.

Limited supply for 1

BCR said:

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administrative errors said:

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This is actually a good thing for bitcoin.

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How do you get Bitcoin? If you buy it with the dollar and the dollar has no value how does Bitcoin have value?
Just curious?

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you can buy it with any currency, receive it as payment for labor performed, receive it for mining, selling anything for it... you're too clever for yourself.

Redstone said:

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Crypto will work until FedGov decides to shut it down, which it can do whenever because these currencies are the primary exchange of dark web. So, enjoy the ride. I'm out.

second, and more important:

minimum wage based on inflation should be $26.00 / hour. Let that sink in. Working for anything less is a net loss. Main Street wages are too low to support the Fed and Wall Street induced inflation. This is going to blowup very soon. 2008 will be a Clown Show compared to what is going to hit.

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Good luck trying to shut it down. Still don't understand how it works.

FattyDelights said:

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Redstone said:

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Crypto will work until FedGov decides to shut it down, which it can do whenever because these currencies are the primary exchange of dark web. So, enjoy the ride. I'm out.

second, and more important:

minimum wage based on inflation should be $26.00 / hour. Let that sink in. Working for anything less is a net loss. Main Street wages are too low to support the Fed and Wall Street induced inflation. This is going to blowup very soon. 2008 will be a Clown Show compared to what is going to hit.

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Good luck trying to shut it down. Still don't understand how it works.

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far more likely we will see mass adoption from fed than the opposite. Especially with countries adopting it to get around sanctions and whatnot, see Iran.

Also the Federal govt is one of the largest holders of bitcoin currently. We shall see what they decide to do with it. They haven't auctioned it all off yet so maybe they're getting wise.

hedge said:

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Don't worry we'll just print more money

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That's what I do.

ac04 said:

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Cassius said:

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administrative errors said:

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This is actually a good thing for bitcoin.

Btfd.

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Why is it stuck then?

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yeah, why is bitcoin only up 1000% in the last 13 months?

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Well....we're waiting!!

DallasAg 94 said:

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slyfox07 said:

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Also, anybody buying or building a house right now is insane.

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Right before the housing bubble burst, I told my wife I wanted to short our house.

The idea was to sell the house... live in an Apt for 6-12 months and then buy a house in the neighborhood for much less than we sold.

There ended up being 2-3 houses per street in places in Allen, where the builder was selling a 4K sq' house for less than $350K. Those houses were at $800K 3 years later.

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I love my house. I'd rather do a cash out refi, locking in gains from the value appreciation and cheap debt from the low interest rates. And I get to keep my house and don't have to live in an apartment.

you're precisely the type of chicken little i'm talking about

administrative errors said:

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FattyDelights said:

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Redstone said:

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Crypto will work until FedGov decides to shut it down, which it can do whenever because these currencies are the primary exchange of dark web. So, enjoy the ride. I'm out.

second, and more important:

minimum wage based on inflation should be $26.00 / hour. Let that sink in. Working for anything less is a net loss. Main Street wages are too low to support the Fed and Wall Street induced inflation. This is going to blowup very soon. 2008 will be a Clown Show compared to what is going to hit.

---

Good luck trying to shut it down. Still don't understand how it works.

---

far more likely we will see mass adoption from fed than the opposite. Especially with countries adopting it to get around sanctions and whatnot, see Iran.

Also the Federal govt is one of the largest holders of bitcoin currently. We shall see what they decide to do with it. They haven't auctioned it all off yet so maybe they're getting wise.

---

Point 1 - if governments do adopt it won't they also engage in mass mining of bitcoin? Seems to me that would be inflationary and basically the same problem we have with the dollar. In fact, as I'm considering this it might be a very good option for a vastly overleveraged country (USA) to "print" a new currency to pay off the debt and stabilize inflation of the old currency that they printed too much of. ie could the government use bitcoin to manage (manipulate) the value of the dollar and inflation?

Point 2 - Maybe this is how they kill it off or at least take advantage of the speculative rise in bitcoin. If the government dumps their bitcoin on the market (maybe to buy back dollars and take them out of circulation) the value of bitcoin is going to drop and wash a lot of speculators out of the bitcoin market while shoring up the value of the dollar. What if the feds are behind the rise in bitcoin value? Could there be some monetary warfare playing out in the currency and bitcoin global market?

I'm not saying you are wrong. I confess that I don't know a whole lot about bitcoin but I think there are some intriguing questions around how a federal bank and shadowy government alphabet agencies could play with bitcoin. Especially one that is printing massive amounts of fiat currency and may be (should be) looking for an inflation escape plan.

ehrmantraut said:

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slyfox07 said:

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Also, anybody buying or building a house right now is insane.

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I think that depends on where you're buying and how long you're playing to stay in the home.

Regardless of location though, If you're buying/building your first home in a "starter" neighborhood for 20% more than what it cost 12 months ago, and only planning on staying 5-7 years, then you're playing with fire.

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I don't understand how anybody could even get a loan to build right now. With lumber prices several times higher than "normal", it seems like the increased cost of construction followed by a correction (logical if one assumes that covid supply chain issues won't last forever) you'd have a house that's immediately underwater. Like, within a year.

There's just no way that a house that costs 350K to build today will be worth that in 2022.

No question this is a housing bubble.

However:

For how long? With no state income tax, mostly 360 building with lesser relatively speaking land use regulations, and now a diverse state economy ..,,

May be a sustained bubble, until mass bankruptcies....and yet the Fed keeps pumping....

This is all relative. We are not a "sand state" in the early 2000s, where Las Vegas casino gardeners were getting 300k no-look loans .....

Redstone said:

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No question this is a housing bubble.

However:

For how long? With no state income tax, mostly 360 building with lesser relatively speaking land use regulations, and now a diverse state economy ..,,

May be a sustained bubble, until mass bankruptcies....and yet the Fed keeps pumping....

This is all relative. We are not a "sand state" in the early 2000s, where Las Vegas casino gardeners were getting 300k no-look loans .....

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I agree that this could go on for a while. Seems like we are entering territory where inflation, as long as it's not hyper-inflation, is desirable for RE investors and Wall Street. RE investors are driving the market up as they seek a hedge against inflation. Those getting into the market now are basically speculating (and hoping) that prices hold and the only way that happens is inflation. Wall Street would rather have low interest rates and moderate inflation than moderate interest rates and a deflating RE market. So the money managers' are going to lean towards letting inflation creep up IMO.

Also, covid created a lot of savers. Saving rates are higher than they have been in a long time. That's bad for Wall St. They would rather have your money in the market or buying mortgages than sitting in your bank account. Its another reason for them to allow some moderate inflation since inflation de-motivates cash savings.

Hendrix said:

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this is why i'm in crypto a little.

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Ironically the debt and reliance on USD monetary policy is the reason people shouldn't be too bullish on crypto. As soon as it threatens the Fed ability to manipulate the economy, the SEC will essentially ban it on exchanges. The peer to peer side can also be regulated in the same way they regulate pirating online. India already outright banned BTC.

Full agree

Really feel for you guys in 20s trying to buy first property. You are getting screwed hard.

hedge said:

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Don't worry we'll just print more money

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But...we'll always have more money!!!! I could buy 4 maybe 6 teas!!!!

Regarding crypto - ALL of it

If FedGov wants it gone it will be gone. Then others will pop up and be tolerated for a while and on and on

The justifications already exist - dark web currency. And while cash is one also, the others don't prop up a decaying empire, do they?

Crypto and Fed action against it is what might finally unite white collar tech libs with blue collar 2A proponents, against the government.

Redstone said:

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Full agree

Really feel for you guys in 20s trying to buy first property. You are getting screwed hard.

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I'm an old, which means I'm also a saver so this inflation is scaring me. The stock market seems to be deep in bubble territory too so I'm uncomfortably sitting on cash at the moment. I have never done any commodities trading but I'm looking into it.

I've got kids in their 20's. They are watching the prospect of home ownership disappear over the horizon. It's very sad. Very hard for young people to build wealth these days.

I'm mainly in eth/ada. Who knows. I'm diversified.

Once a viable global reserve currency emerges - and it will, once China and Russia decide to fully cooperate - we are truly deeply and well screwed.

However, there is a major caveat: China's demographics. And, related, if they move militarily beyond Taiwan (let's not pretend we would respond, but Taiwan would deploy their nukes) - there's huge unoccupied lands to their west.

I want Bidens face on the 1,000,000 bill. Nothing would be more fitting

HumpitPuryear said:

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administrative errors said:

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FattyDelights said:

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Redstone said:

---

Crypto will work until FedGov decides to shut it down, which it can do whenever because these currencies are the primary exchange of dark web. So, enjoy the ride. I'm out.

second, and more important:

minimum wage based on inflation should be $26.00 / hour. Let that sink in. Working for anything less is a net loss. Main Street wages are too low to support the Fed and Wall Street induced inflation. This is going to blowup very soon. 2008 will be a Clown Show compared to what is going to hit.

---

Good luck trying to shut it down. Still don't understand how it works.

---

far more likely we will see mass adoption from fed than the opposite. Especially with countries adopting it to get around sanctions and whatnot, see Iran.

Also the Federal govt is one of the largest holders of bitcoin currently. We shall see what they decide to do with it. They haven't auctioned it all off yet so maybe they're getting wise.

---

Point 1 - if governments do adopt it won't they also engage in mass mining of bitcoin? Seems to me that would be inflationary and basically the same problem we have with the dollar. In fact, as I'm considering this it might be a very good option for a vastly overleveraged country (USA) to "print" a new currency to pay off the debt and stabilize inflation of the old currency that they printed too much of. ie could the government use bitcoin to manage (manipulate) the value of the dollar and inflation?

Point 2 - Maybe this is how they kill it off or at least take advantage of the speculative rise in bitcoin. If the government dumps their bitcoin on the market (maybe to buy back dollars and take them out of circulation) the value of bitcoin is going to drop and wash a lot of speculators out of the bitcoin market while shoring up the value of the dollar. What if the feds are behind the rise in bitcoin value? Could there be some monetary warfare playing out in the currency and bitcoin global market?

I'm not saying you are wrong. I confess that I don't know a whole lot about bitcoin but I think there are some intriguing questions around how a federal bank and shadowy government alphabet agencies could play with bitcoin. Especially one that is printing massive amounts of fiat currency and may be (should be) looking for an inflation escape plan.

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don't worry I know I not wrong and the statements you've made show you've not taken a more than a moments glance at the way the bitcoin blockchain works in practice. I'd recommend reading the bitcoin white paper and listening to andreas antonopolous for starters. There's too much background to start to pick apart your premise.

Read the white paper listen to andreas antonopolous he's got so much indepth eli5 information on the topics you're concerned about. https://youtube.com/c/aantonop


Short answers:
1. Mass mining increases difficulty of mining and reinforces the network security. I think bitcoin should be the new gold standard layer for CDBC's [central bank digital currencies].

2. There have to be buyers for sellers to sell, there have to be sellers for buyers to buy. There's never been something that exists that is as infinitely finite as bitcoin, for better or worse. It's the hardest money that's ever existed and hard money always wins over soft money.

Here's a better answer to the 2nd question that I'm unable to articulate:

Yup, it must be a day that ends in Y.

Someone used a dollar sign in a TexAgs post, so the Bitcoin Crossfitters immediately pounce to tell you how Bitcoin is the solution to all the problems, and it's already taking over the entire universe where everything is different. And if you have questions, it's simply because you are old and ignorant and time has passed you by.

I swear this folks are a living SouthPark episode.

Oh hey people are talking about something frioag doesn't like so he disparages everyone. It must be today.

*rolls eyes wishes he had ignore button, settles for just ignoring*

AggieDub14 said:

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Guess who started the trend of deficit spending?

It rhymes with Pronald Preagan.

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What nuance are you using to separate that from say various world war and Vietnam/Korea war spending?

Even so, if Pronald Preagan spent too much, full-on socialism is OK?

AggieDub14 said:

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Guess who started the trend of deficit spending?

It rhymes with Pronald Preagan.

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Yep, he started the trend while Nixon was president and continued it under Ford and Carter.

slyfox07 said:

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ehrmantraut said:

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slyfox07 said:

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Also, anybody buying or building a house right now is insane.

---

I think that depends on where you're buying and how long you're playing to stay in the home.

Regardless of location though, If you're buying/building your first home in a "starter" neighborhood for 20% more than what it cost 12 months ago, and only planning on staying 5-7 years, then you're playing with fire.

---

I don't understand how anybody could even get a loan to build right now. With lumber prices several times higher than "normal", it seems like the increased cost of construction followed by a correction (logical if one assumes that covid supply chain issues won't last forever) you'd have a house that's immediately underwater. Like, within a year.

There's just no way that a house that costs 350K to build today will be worth that in 2022.

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I think you are right.

Also, consider about this....

the oldest boomer is now 78 years old. That is average life expectancy. Boomers own lots of houses. I remember the estimates on houses going up for sale once the boomer housing glut starts is 4 times the number of houses that sold each year during the housing boom. Think about housing price increases during the boom. Now you have 4x that amount on the market each year.

It's going to be a disaster for the housing market.

LOYAL AG said:

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AggieDub14 said:

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Guess who started the trend of deficit spending?

It rhymes with Pronald Preagan.

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Why tell a lie that is so easy to disprove?

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Because liberals only know how to lie and are comfortable being liars. He probably got that info from other liberal liars but is fine retelling it even when proven wrong. See Biden's lies re: Georgia's voting laws.

https://www.google.com/amp/s/bitcoinexchangeguide.com/the-state-of-wyoming-appropriates-4m-to-staking-program-for-at-least-3-cryptocurrencies/%3famp

Wyoming is leading the country by far in incentivizing crypto talent wealth.