Where Are You Safe? (Bitcoin, US Dollar, Gold/Silver?)
These are my thoughts on the current situation. A lot of people aren't taking all this seriously until it directly affects them. As things get worse people will seek to protect their investments and those with capital will seek to accumulate more assets that have a chance to appreciate after we come out of these uncertain times.
HIVE (THE NON-COMMUNIST, NON-CENSORED, JUSTIN SUN EXCLUDING SOCIAL BLOCKCHAIN) IS ALIVE, COME JOIN US!!!
https://peakd.com <--- Log in with your Steem account today!!
There is no place that is safe.
All of these assets are doomed
And they are not doomed in a way that they are going to crash and come back.
They are going to crash, fall over and burn to ash.
There is no place safe during this planet-wide shift.
We each need to be flexible and watch the new markets emerge.
Like, that beach front property with the McMansion... its going to become prohibitively expensive to heat, along with the changing coastline (rising and falling and earthquakes) and storms.
But an earth-ship in the middle of no-where will be the thing that keeps you safe and warm. And with the new electrical generation that can be anywhere, it will be even better.
I like the Earth ship communities in New Mexico. Love the concept for sure!
Loving the brand. Yes it is insanely worse than was only just a month ago. Sucks about your buddy, hope his mom gets better. I always wear my n95 and PEOPLE ARE NOT following any precautions nor taking shit seriously. My n95 was fitted as I did have it fitted as i worked in healthcare for 14 years. Unemployed and applied for unemployment hopefully i get it. Need a better mask, i know! However i certainly agree keeping usd and keeping the rest in bitcoin because of the halving in may. Hysteria doesn't help. In my town alone its nearly tripled in a week. You don't seem to be taking into account the halving in May?? Oil, no...i could be wrong, horrible for environment, no? I disagree about the usd being so valuable because NOT BACKED by gold. Not trying to rip into ya, just not fully agreeing. BCH I'm not seeing it. Agree there.
If you look at the first and second halving:
The increase: Halving 1:
Then it took ~500-580ish days each time to reach a new low.
Im banking on the halving in may.... just my 2 cents worth. ;)
To me the halving is primarily a non-event. Everyone pretty much knows it is coming except a small group of n00bs which will get in at the wrong time anyways. Even in a situation where there is economic prosperity like the last halving in 2016 there was a major sell off prior to the actual date and Bitcoin retraced 25% plus. In my opinion in the next week or so the same will happen again except worse considering people are out of work and businesses are getting incinerated during this pandemic.
In general there isn't that much of an inflow of new money into the crypto market during a period of uncertainty. Right now things are just being propped up in the stock market and crypto markets and commodity markets. The crypto market is basically just been following right in step with the stock market for the last month or more. It will implode. There really is no way it can't. Just think when the next quarterly earnings come out. They are going to be horrendous. It isn't just the United States. The entire World economy is fucked 10 ways to Sunday. Outside of a few places where they might gravitate toward crypto because their currency is completely failing Crypto is still largely just a speculative investment. If a person doesn't just get in and out at the right times they often get torched by the big money pumping and dumping it to their liking.
You have to ask yourself if you and everyone you know is rushing in to buy crypto right now after losing their jobs? It's not something people typically would do. To gravitate to the most volatile asset class when their income has been cut off. They usually clinch up with their spending.
When pretty much all sports leagues aren't playing, people are locked in their houses, people are losing their jobs, body bags are stacking up, and world leaders are going on ventilators. That isn't normal. This isn't going to be a normal recession. It is economic nuclear winter.
This is when there is a domino effect that implodes the auto loan, credit card, housing, student loan debt.....etc. People were already on borrowed time. This is going to accelerate the situation.
The premise of normal everyday people gravitating to a hyper volatile digital coin doesn't make sense in this situation when their buying power with the US Dollar hasn't radically changed especially in comparison to Food and Gasoline right now.
Yeah I see what you're saying & all fair points but you seriously you don't believe it'll follow the previous trends? Those trends make sense from a predictability standpoint
The previous trends were all during times of economic prosperity. Now we have a global pandemic with the whole world economy locked up. So I don't really see a reason why it would continue on the same course.
So many people's businesses have been destroyed instantly and people are getting laid off by the millions.
That isn't an equation for new people to throw money into crypto. It is already confusing and hyper volatile and shakes out a lot of people during good times. During bad times where they are stressed out and there is so much uncertainty I don't see people throwing money into it.
People clinch up their spending. Their 401Ks have taken a hit, people aren't buying new vehicles, houses .....etc.
I expect the Student Loan bubble to burst, the Car loan bubble to burst, consumer debt, and housing bubbles to burst.
I really don't see anyway around it unless suddenly in a week or so someone invents a miracle cure and also comes out with efficient ways to test people and also gets lots of medical masks in.....etc.
https://www.yahoo.com/entertainment/disney-world-furlough-43-000-213559574.html
Disney World is going to Furlough 43,000 employees. Tesla started doing the same. We are just going to see company after company after company doing that.
After the halvening date passes for Bitcoin what is there to look forward to for people? December 2021........ that's an eternity in a global pandemic.
Just because someone drew up a nice little rainbow doesn't mean things will continue on it.
Who knows overall but I would say everything is delayed way back. We can't even live a normal life and go to the beach or anything. Bitcoin doesn't actually solve any real problem in this situation.
I didn't say the previous trends would incentivize a bunch of noobs to join. I was referring more to "in the know." Last time steem peaked i was making 2 & 3 grand a month and cashing out to fiat since it's really such a simple concept. The ALMIGHTY USD isn't backed by gold anymore so eventually having gold, silver, cryto, and some fiat is smart considering a diverse portfolio is a healthy one And, if you ask me, we have been in economic distress for a while, yes worse now obviously .