What are everyone’s thoughts on CBDC?
It’s just another form of control.
Iirc shiba inu has no coin cap meaning they can make as many as they want. I would never buy into this.
For all burned on litecoin i feel bad, but meme coins aren’t a hedge, they’re like penny stocks.
2 Likes
Be afraid when people are greedy. Be greedy when people are afraid
3 Likes
Nothing looks safe for short-term trades right now. Yesterday the dollar index rose above last month’s high of 103.50, which breaks the declining trendline and (theoretically) sets the stage for more bear market to come. Bonds, stocks, and “hard money” assets like gold and BTC are all selling off. Markets have spent the last month on pause waiting to see what the Fed does, because the money printer controls all short-term asset prices, and two days ago the Fed told the bulls to take a hike.
If you like something for long-term, have money to spare and want to invest it, it’s probably a good time. BTFP hopefully means the Fed can’t completely break the economy of the world just by raising rates without exogenous shocks. We’ll see.
CBDCs have had a lot of fuss made about them. How they’re implemented would be the important question. If they’re only used for interbank transfers, and not retail customers’ accounts, most of the issues are moot. If they’re used for all retail customers, that’s a dystopian nightmare scenario where the government can tell exactly what everyone is doing all the time. I don’t see how we would possibly get from here to there, though. The big banks are all in the way, and if anyone thinks they don’t have any influence over politics I’ve got a bridge to sell you.
3 Likes
It seems we’re already living in a black mirror episode, we’re just missing the CBDC and more severe restrictions to top it off ^ ^
Never thought that warrantless wiretaps and mass surveillance would be a thing (in America), but somehow we got there.
3 Likes
Central bank digital currencies?
I could see it working for traveling to other counties if they had it lol
No need to get currency exchange . . .or pay a fee.
If the govt isn’t charging anything to do it…
I don’t know know how I’d feel about not being able to take my money out of digital currency and keeping it in cold hard cash . Or having to convert any money i have into a cbdc . . . Everything is pretty well a number in a bank right now. But. I know I could take cash out and do what I please with it
If one day they say , as of this day - X - all funds must be converted to the CBDC to conduct X services . I wouldn’t be happy .
Short term fuckery for me on the LTC…I’ll just label it as a stupid tax for now for myself.
I wonder if I can write off a bad investment
I think I can actually to bring my income tax down , It Is actually a strategy used by some investors hahahah
2 Likes
You can write off short-term capital losses against short-term capital gains in the same year without limit, I believe. If you lost more than you gained, you can record those losses when you send in your tax returns and they’ll allow you to carry them over to future years, although you can only carry over $3k of losses per year as a retail trader. Professional investors get much more preferential treatment, being able to carry over losses without limit.
This is for the US, btw. I’m not sure whether it’s the same for Canada, although it would surprise me somewhat if they didn’t have similar laws for writing off investments.
2 Likes
Bitcoin and virtual cryptocurrencies are conditioning tools for digital currency.
1 Like
You’re a conditioning tool for boron, but you don’t see us complaining.
2 Likes
So we wanna turn OG into to trollitup? Bring it!
I thought that was last rate hike for a while and markets were getting bullish again (even with spy near highs). From what I was reading the recent drop is from people figuring out AI doesn’t just print money for free…Ai stocks taking a dive.
Question about gold…
So everyone is saying buy gold, buy silver. But in the event that the banks collapse, who are you gonna sell your metals too? Barter woth them? But how would a dummy like me know the difference between real gold and fake? And a $2k 1oz bullion is supposed to be cut woth a hacksaw to barter for a pack of lighters?
Or is it not meant to be bartered with, but just hold value?
Our mint sells 1 gram gold wafers…was gonna snag a bunch of those…but haven’t yet.
3 Likes
Most people thought that was the last rate hike, from what I’ve been hearing, and that the bulls were clear after this. The FOMC notes make it clear that they’re still quite concerned about inflation, and expecting further rate hikes. That’s why market makers were in leveraged long positions for crypto, for the most part, and why they got washed out to the tune of $1b over the past two days. I don’t think it had much to do with AI. NVidia’s stock started the week at $444 and ended at $433 per share, for example, and that’s been one of the big proxy stocks for AI investment. Picks and shovels, and all that. It’s probably not so simple as there just being one reason, though. We also had bad news out of China yesterday, at least kind of… Evergrande, a big property manager over there, officially announced its bankruptcy proceedings in the US. It’s been moderately well-known what’s happening to them though, and should have been priced in. They first announced this would be happening almost two years ago. Still, being reminded never helps if people have forgotten that China’s in trouble too. It’s been compounded by US decoupling on trade, I guess. Dunno, markets are at their most basic level composed of people and people are confusing and weird sometimes. 
And thus, Bitcoin. 
Gold is the traditional “hard money,” but it suffers from problems of portability and divisibility. Basically, what you said - it can’t be easily moved or used to barter. That’s why people first started making coins, to standardize units of measurement for precious metals so they could easily be used to exchange. In the unlikely event civilization collapses and fiat currency is no longer viable, gold would be pretty tough to exchange as well. Bitcoin would be easier, unless we all lost access to electricity and electronic communications at the same time. Never know, I guess. If we went back to the stone age somehow, gold would be better because there would be no way to access the blockchain which serves as Bitcoin’s central ledger, but otherwise it’s just far more convenient than gold to actually spend.
4 Likes
LTC plunges to $63 usd now!!! What a f***ing ride !@@
I do too feel bad for those invested…
My $750 cad investment is a small price to pay . I wouldn’t have Invested anything I couldn’t afford to lose/ live without .
I hope the same for others
I
2 Likes
This German site says it’s going to $20. It says Elon sold a lot of bitcoin and that started a sell off that tanked the crypto market. Sounds legit. They say crypto has a thinner distribution of wealth than North Korea.
1 Like
Price predictions are worth about as much as my bottled farts. 
As far as distribution of wealth, it’s tough to say. Generally the largest holdings are exchange wallets. I expect there are lots of early adopters with large balances, some of which are permanently lost - I’ve read estimates of up to 2 million BTC that’s gone and may never be recovered due to lost private keys. We’ve all read the stories of people digging through landfills to find their hard drive that’s suddenly worth $30 million, I expect. Here’s some interesting charts, for what it’s worth:
As far as Elon selling a lot of BTC, that’s just plain misinformation. SpaceX wrote down the value of their BTC holdings by $373 million last week, but that’s meaningless; it’s just accounting work, acknowledging that the value of their investment has declined for shareholder reports. The market was primed for a big move one way or another after a month of almost zero volatility, and finally it moved. Now people try to generate clicks by explaining why.
5 Likes
What’s the going price on those bottles?!
I’m all out of crypto. I’ve even made some changes and have stopped trying to flip penny stocks…kind of…lol.
Looking at Big Lots lately (ticker: BIG). Have a small bag right now…lol.
LFG! 
3 Likes
I can honestly say they’re priceless.
I’m not out of crypto per se, but the cost basis for my current investment is close enough to $0 that I’m willing to just call the rest house money. If it ends up being something real in 20 years, that’s good enough for me. If not, it was a fun ride while it lasted. Most of my money has always been invested in index funds, corporate bonds or individual companies with solid moats, like TSMC… though by now, I’m up to about 10% in BTC because it’s gained so much in value while everything else has been slow but steady. That’s after starting with about 1.5% and selling off half a few weeks later, so I’m happy enough with it. All my attempts at day trading have eventually washed out, after a few lucky starts that had me convinced I could actually do something with it… I could not.
4 Likes
Big Lots Financials and forecast don’t look good haha
First time I’ve ever heard of it.
Is it liked to a Winners or Marshall’s?
Regardless. Financial news isn’t pretty from what I have just googled lol its been in this predicament before with 150 bankruptcies since 2015 lol
Ffs
All of my stocks ., except 2 ,are not doing well .
One rough one is is a very advanced new tech company that’s products are used by the military… nothing commercialized to the public so it’s share costs are very low. The company has extreme potential and is creating ground breaking technology that the U.S. navy is using. kraken robotics. [PNG]
Currently sitting at 0.36c haha I think I bought it at 0.54c
And another is a mining explorations company for ROAD SALT… I had the stock bought a year and a half ago @ $1.15 and sold it at a $1.00 or so. Then 3 months later it went to $3.50
^!^@. Back down to 1.15. And I bought back in at 1.30 . [SALT]
My top performer is HD
2 Likes
Big lots used to be the shit. It was like a random discount kmart. They had screwdrivers, and bread. It was a great store during the brick and mortar era. They are like bed bath and beyond now, without purpose. Maybe they’ll become a meme stock like GameStop or amc, but it’s unlikely. They don’t have Ryan Cohen or any of the backing.
Stocks are just as risky as crypto imo.
1 Like
Oh lol bread and screw drivers LOL
Bed bath and beyond has shut down a pile of locations here…so much junk lol lots of stupid Christmas present stuff possibilities .
I’ll just have to invest in my own business…keep buying tools I guess … Maybe a dump trailer and new compressor haha and generator…Or gas compressor… lol except I have used electric for 10 years without a problem as I do all existing residential work and there is always power. Maybe one time I had to run a cord from across the street from a neighbor as there was a unplanned power outage on the side of street i was working on .
I’ll have to invest in my self - if I’m so eager. I am a sure thing 
LOL
1 Like