Cryptocoin Value and Market Trend Discussion

[Space Lynx]

Dude, have you been smoking? I have no idea what your last 2 posts have any relevance to what is being discussed. I still like you though.

I invest through RobinHood, and yeah they sure know about me.

no smoking for me g. I just think as inflation continues to skyrocket, government will be looking for other sources of taxation... and crypto is ripe for the picking "national security reasons" "climate change reasons" they will be just fine when it comes to finding a reason.

I am honestly surprised they haven't legalized weed at federal level yet and taxed crap out of it to pay off their lack of budgeting skills. lol

 

[moproblems99]

I just hope countries start taxing the living **** out of all crypto more than they already do. dat OG called government about to start makin that money, Hunter need more money for the strip clubs bois!!!! tanks and jets and aircraft carriers that's the power my dawgs. fiat funds it and soon more tax on crypto will fund it more

she climbin that pole oooooooooo

I can tell you are unhappy about your life. You constantly want to take everything else from others.

 

[Space Lynx]

I can tell you are unhappy about your life. You constantly want to take everything else from others.

not at all, heading to lakes tomorrow to go boating actually.

just speaking the truth bud. government will come a knockin soon I promise they always want a bigger piece of that pie.

 

[trog100]

not at all, heading to lakes tomorrow to go boating actually.

just speaking the truth bud. government will come a knockin soon I promise they always want a bigger piece of that pie.

and i am off to north west scotland for three weeks touring in my RV.. we call them caravans over here but they are the same thing..

diesel fuel costs the equivalent of $10 dollars per gallon in the UK.. hows about that for tax.. he he

trog

 

[Space Lynx]

and i am off to north west scotland for three weeks touring in my RV.. we call them caravans over here but they are the same thing..

diesel fuel costs the equivalent of $10 dollars per gallon in the UK.. hows about that for tax.. he he

trog

you just proved my point. when their coffers start hurting too bad, they always find something to tax

and have fun mate, that sounds lovely indeed!

 

[R-T-B]

they always want a bigger piece of that pie.

I'm confused why you don't think we already pay taxes.

 

[Space Lynx]

I'm confused why you don't think we already pay taxes.

did you not read what I wrote? apparently not. a few posts up I said they will tax it more than what they already tax. ;p

 

[R-T-B]

did you not read what I wrote? apparently not. a few posts up I said they will tax it more than what they already tax. ;p

They can only tax profits. By definition all they can do is make it less worth your time, not outright unprofitable. It's already not worth my time. It's just a moonshoot for me at this point. I'll pay whatever they want. Tax would change nothing.

 

[lexluthermiester]

Not really though, because if you invest in crypto and enter into that realm, you play by a different set of rules.

That was the point. It not the real world of finance. It just glorified gambling.

 

[moproblems99]

That was the point. It not the real world of finance. It just glorified gambling.

There you go. It has been spoken. You must kneel and accept.

 

[LFaWolf]

That was the point. It not the real world of finance. It just glorified gambling.

The real world of finance?! Please don't make laugh like that. Honestly, before the financial crisis, have you ever heard of derivative swaps? The real world of finance caused the financial crisis in 2008 because they were gambling too. How about that?

This comes to mind when you said that. It does have some truth to it. The real world of finance is what you perceived it to be, what the financial industry/institutions and the government want you to believe.

 

[RandallFlagg]

The real world of finance?! Please don't make laugh like that. Honestly, before the financial crisis, have you ever heard of derivative swaps? The real world of finance caused the financial crisis in 2008 because they were gambling too. How about that?

This comes to mind when you said that. It does have some truth to it. The real world of finance is what you perceived it to be, what the financial industry/institutions and the government want you to believe.

That is so silly.

Markets are not much different than they were in Roman times (publicani). Information moves faster now yes, but structurally not much different. Even derivatives / options, they have been around longer than the USA has.

It ain't different this time bud. But the religious fervor that surrounds that very old an oft repeated belief is most definitely a sign of markets topping out. BTC included.

 

[LFaWolf]

That is so silly.

Markets are not much different than they were in Roman times (publicani). Information moves faster now yes, but structurally not much different. Even derivatives / options, they have been around longer than the USA has.

It ain't different this time bud. But the religious fervor that surrounds that very old an oft repeated belief is most definitely a sign of markets topping out. BTC included.

Nope.
https://corporatefinanceinstitute.c...swaps came into,value stood at $62.2 trillion.
https://www.investopedia.com/ask/an...swap-agreement-and-why-were-swaps-created.asp

 

[RandallFlagg]

Nope.
https://corporatefinanceinstitute.com/resources/knowledge/finance/credit-default-swap-cds/#:~:text=Credit default swaps came into,value stood at $62.2 trillion.
https://www.investopedia.com/ask/an...swap-agreement-and-why-were-swaps-created.asp

Next time, make sure you know the difference between a dictionary and a history book. This shit is most definitely not new.

"Derivatives have a fascinating, 10,000-year-old history. From the ages of Babylonian rulers to medieval times, all the way to present day electronic trading, various forms of derivatives have had a place in humanity’s financial history. Based on an agreement around an underlying asset to exchange cash or other commodities within a specified time frame, derivatives are a way to invest and hedge assets without ever actually needing to possess the asset itself."

The History of Derivatives Trading

Derivatives have a fascinating, 10,000-year-old history. From the ages of Babylonian rulers to medieval times, all the way to present day…

medium.com

 

[LFaWolf]

Next time, make sure you know the difference between a dictionary and a history book. This shit is most definitely not new.

"Derivatives have a fascinating, 10,000-year-old history. From the ages of Babylonian rulers to medieval times, all the way to present day electronic trading, various forms of derivatives have had a place in humanity’s financial history. Based on an agreement around an underlying asset to exchange cash or other commodities within a specified time frame, derivatives are a way to invest and hedge assets without ever actually needing to possess the asset itself."

The History of Derivatives Trading

Derivatives have a fascinating, 10,000-year-old history. From the ages of Babylonian rulers to medieval times, all the way to present day…

medium.com

I was talking about derivative swaps, not derivatives. Read my original post, man.

 

[Space Lynx]

They can only tax profits. By definition all they can do is make it less worth your time, not outright unprofitable. It's already not worth my time. It's just a moonshoot for me at this point. I'll pay whatever they want. Tax would change nothing.

Incorrect, Bernie Sanders has talked several times about taxing every transaction made on wall street, nothing to stop them from saying same about something like Crypto

Let's wait a few more years when the USD tanks more to hyperinflation, they will be willing to as much damage as they need to crypto, cigs, alcohol, weed, etc etc in extra taxes.

 

[LFaWolf]

Incorrect, Bernie Sanders has talked several times about taxing every transaction made on wall street, nothing to stop them from saying same about something like Crypto

Let's wait a few more years when the USD tanks more to hyperinflation, they will be willing to as much damage as they need to crypto, cigs, alcohol, weed, etc etc in extra taxes.

If I am not mistaken, crypto profit is already being taxed as capital gain. Sure they can tax more, but I doubt it. Too many hedge funds are in it now and there probably will be some lobbying done.

 

[Space Lynx]

If I am not mistaken, crypto profit is already being taxed as capital gain. Sure they can tax more, but I doubt it. Too many hedge funds are in it now and there probably will be some lobbying done.

indeed, as Ancient Rome fell from corruption, so to will America, only a matter of time now. the system has been broken for so long, Medicare and Social Security will begin hemorrhaging within 5-10 years, 6 trillion spent within a year that basically changed nothing on covid, 3.5 trillion more soon on infrastructure and still no way to pay for it outside of tricky language and wealthy paying more over 10 years (they won't, even if they do it won't be enough), nearing 30 trillion in debt, and China big bills come due in in 2025 I believe one of our big big bills come due in full to China with no way to pay it, we haven't even paid for the wars we did 20 years ago.

Imagine telling king henry VIII he could have endless war with france and not worry about paying for it LOL ah the look on his face would have been priceless.

only a matter of time now, that's why Jack Dorsey maximizes a variety of different currencies and I assume passports/citizenships as most rich people do. hehehe

 

[RandallFlagg]

I was talking about derivative swaps, not derivatives. Read my original post, man.

Read the fist sentence in your link. It's a derivative, man. In all reality, it is just insurance on credit default, packaged into a new type of derivative. But derivative it is. Put options for example, can be used as a form of insurance against a decline in value of an asset - any asset you can get such an option (derivative) on, not just stocks. Credit default swaps, when used in a responsible way, provide insurance against credit default.

From your link : "A credit default swap (CDS) is a type of credit derivative..."

There is nothing new about these instruments. Same damn thing, new name.

As far as 'why' 2008 happened and blaming mechanical instruments like this, well that's not why. It happened because people made it happen. How? By taking on exponentially excessive levels of risk, a result of greed and the misguided belief that broad-based wealth comes from markets.

That risky behavior is probably best illustrated here :

 

[LFaWolf]

indeed, as Ancient Rome fell from corruption, so to will America, only a matter of time now. the system has been broken for so long, Medicare and Social Security will begin hemorrhaging within 5-10 years, 6 trillion spent within a year that basically changed nothing on covid, 3.5 trillion more soon on infrastructure and still no way to pay for it outside of tricky language and wealthy paying more over 10 years (they won't, even if they do it won't be enough), nearing 30 trillion in debt, and China big bills come due in in 2025 I believe one of our big big bills come due in full to China with no way to pay it, we haven't even paid for the wars we did 20 years ago.

Imagine telling king henry VIII he could have endless war with france and not worry about paying for it LOL ah the look on his face would have been priceless.

only a matter of time now, that's why Jack Dorsey maximizes a variety of different currencies and I assume passports/citizenships as most rich people do. hehehe

I remember seeing on Bloomberg that the Federal Reserves went from 4 trillion to 7 trillion after Covid, so I checked and it seems we only spent 4.5 trillion on Covid, not 6 trillion.
https://www.usaspending.gov/disaster/covid-19

I believe in digital currency. However, the fact that we can create the digital currency by just mining with GPUs does not sit well with me. The purpose of digital currency seems to be lost in that. I am still trying to understand decentralized finance. This crypto thing is way too disruptive.

Of course, why let Jerome Powell have all the fun? We can print our own money too!

Read the fist sentence in your link. It's a derivative, man. In all reality, it is just insurance on credit default, packaged into a new type of derivative. But derivative it is. Put options for example, can be used as a form of insurance against a decline in value of an asset - any asset you can get such an option (derivative) on, not just stocks. Credit default swaps, when used in a responsible way, provide insurance against credit default.

From your link : "A credit default swap (CDS) is a type of credit derivative..."

There is nothing new about these instruments. Same damn thing, new name.

As far as 'why' 2008 happened and blaming mechanical instruments like this, well that's not why. It happened because people made it happen. How? By taking on exponentially excessive levels of risk, a result of greed and the misguided belief that broad-based wealth comes from markets.

That risky behavior is probably best illustrated here :

View attachment 208424

I have no interest to argue semantics with you, but the link text clearly stated, "Credit default swaps came into existence in 1994 when they were invented by Blythe Masters from JP Morgan. They became popular in the early 2000s, and by 2007, the outstanding credit default swaps value stood at $62.2 trillion. During the financial crisis of 2008, the value of CDS was hit hard, and it dropped to $26.3 trillion by 2010 and $25.5 trillion in 2012. There was no legal framework to regulate swaps, and the lack of transparency in the market became a concern among regulators."

Believe what you want to believe. The financial engineering being done in our time is far, far more complex than even 100 years ago.

 

[RandallFlagg]

I remember seeing on Bloomberg that the Federal Reserves went from 4 trillion to 7 trillion after Covid, so I checked and it seems we only spent 4.5 trillion on Covid, not 6 trillion.
https://www.usaspending.gov/disaster/covid-19

I believe in digital currency. However, the fact that we can create the digital currency by just mining with GPUs does not sit well with me. The purpose of digital currency seems to be lost in that. I am still trying to understand decentralized finance. This crypto thing is way too disruptive.

Of course, why let Jerome Powell have all the fun? We can print our own money too!


I have no interest to argue semantics with you, but the link text clearly stated, "Credit default swaps came into existence in 1994 when they were invented by Blythe Masters from JP Morgan. They became popular in the early 2000s, and by 2007, the outstanding credit default swaps value stood at $62.2 trillion. During the financial crisis of 2008, the value of CDS was hit hard, and it dropped to $26.3 trillion by 2010 and $25.5 trillion in 2012. There was no legal framework to regulate swaps, and the lack of transparency in the market became a concern among regulators."

Believe what you want to believe. The financial engineering being done in our time is far, far more complex than even 100 years ago.

It's just another derivative. That's not a new concept, and it isn't a belief, it's a fact.

 

[Space Lynx]

I remember seeing on Bloomberg that the Federal Reserves went from 4 trillion to 7 trillion after Covid, so I checked and it seems we only spent 4.5 trillion on Covid, not 6 trillion.
https://www.usaspending.gov/disaster/covid-19

I believe in digital currency. However, the fact that we can create the digital currency by just mining with GPUs does not sit well with me. The purpose of digital currency seems to be lost in that. I am still trying to understand decentralized finance. This crypto thing is way too disruptive.

Of course, why let Jerome Powell have all the fun? We can print our own money too!


I have no interest to argue semantics with you, but the link text clearly stated, "Credit default swaps came into existence in 1994 when they were invented by Blythe Masters from JP Morgan. They became popular in the early 2000s, and by 2007, the outstanding credit default swaps value stood at $62.2 trillion. During the financial crisis of 2008, the value of CDS was hit hard, and it dropped to $26.3 trillion by 2010 and $25.5 trillion in 2012. There was no legal framework to regulate swaps, and the lack of transparency in the market became a concern among regulators."

Believe what you want to believe. The financial engineering being done in our time is far, far more complex than even 100 years ago.

Hmm. Not sure why my math was off so badly... perhaps there is other non-covid spending not counted in those numbers but that were still passed in those bills... sort of like they are doing now with infrastructure, by "sneaking" in stuff that literally has nothing to do with bridges/roads/water pipes, etc... when a bill is passed its like a ton of smaller bills all squished together, so I wonder if that number is not including those other bills? or perhaps my number was just off. either way... we are nearing 30 trillion in debt quicker than anyone expected I think... and again we have that big bill due to China in 2025 or 2026 and no way to pay it to my knowledge. I can't seem to find the link where I read that so eh... take that with a grain of salt too, pretty sure I read it somewhere though.

 

[LFaWolf]

It's just another derivative. That's not a new concept, and it isn't a belief, it's a fact.

Yes, fact.

"Credit default swaps came into existence in 1994 when they were invented by Blythe Masters from JP Morgan. They became popular in the early 2000s, and by 2007, the outstanding credit default swaps value stood at $62.2 trillion. During the financial crisis of 2008, the value of CDS was hit hard, and it dropped to $26.3 trillion by 2010 and $25.5 trillion in 2012. There was no legal framework to regulate swaps, and the lack of transparency in the market became a concern among regulators."

Hmm. Not sure why my math was off so badly... perhaps there is other non-covid spending not counted in those numbers but that were still passed in those bills... sort of like they are doing now with infrastructure, by "sneaking" in stuff that literally has nothing to do with bridges/roads/water pipes, etc... when a bill is passed its like a ton of smaller bills all squished together, so I wonder if that number is not including those other bills? or perhaps my number was just off. either way... we are nearing 30 trillion in debt quicker than anyone expected I think... and again we have that big bill due to China in 2025 or 2026 and no way to pay it to my knowledge. I can't seem to find the link where I read that so eh... take that with a grain of salt too, pretty sure I read it somewhere though.

No worries, it is only a few trillions. Mr. Powell can print that in no time.

Honestly the financial impact to the US or world wide economies are probably much greater than that.

Enjoy the boat trip!

 

[Space Lynx]

Yes, fact.

"Credit default swaps came into existence in 1994 when they were invented by Blythe Masters from JP Morgan. They became popular in the early 2000s, and by 2007, the outstanding credit default swaps value stood at $62.2 trillion. During the financial crisis of 2008, the value of CDS was hit hard, and it dropped to $26.3 trillion by 2010 and $25.5 trillion in 2012. There was no legal framework to regulate swaps, and the lack of transparency in the market became a concern among regulators."


No worries, it is only a few trillions. Mr. Powell can print that in no time.

Honestly the financial impact to the US or world wide economies are probably much greater than that.

Enjoy the boat trip!

honestly, crypto aside, fiat aside, whatever our preferences and such may be... I honestly just feel bad for all the old people just barely getting by on social security cause they have no retirement... their life is about to become much much harder as inflation goes unchecked... :/ hopefully most of them have the courage to go to local food banks and ask for food at least to get by.

 

[R-T-B]

Incorrect, Bernie Sanders has talked several times about taxing every transaction made on wall street, nothing to stop them from saying same about something like Crypto

I misspoke slightly. It's not impossible, but completely improbable.