Re:A beginner’s guide to getting started in the cryptocurren...
by etr-strike on Sunday December 10, 2017 @11:37AM
(#15892136)
The S&P only gained because the fed bailed it out. Thank Bernanke and Yellen for your asset price inflation.
Re:A beginner’s guide to getting started in the cryptocurren...
by amarkov on Sunday December 10, 2017 @01:27PM
(#15892696)
Well, shouldn't I? If the cost of a consistently growing S&P 500 is consistent inflation between 2-6% rather than wild positive and negative swings, that sounds like a win-win.
Re:A beginner’s guide to getting started in the cryptocurren...
by etr-strike on Sunday December 10, 2017 @01:45PM
(#15892796)
As I said, you owe your gains in the market to the central bankers. People who didn’t want to risk their life savings in the market suffered due to inflation these last 10years. People who had the luxury of investing in the market benefitted at everyone else’s expense. The policy of keeping stock indexes inflated is directly responsible for increasing inequality.
The next time a significant market correction happens, those of us who value honest saving will have a place to hide. The fed won’t be able to save you at our expense next time.
Some people are opting to change their dollars to btc. Some are opting to hedge a small amount into this new system in case recent monetary experiments explode. Most people are speculating (as they do in forex markets today).
And there is nothing wrong with speculation, but when Coinbase is adding 100k accounts every few days it is not people thinking fiat money is about to implode.
As an aside, if you listen to the hardcore BTC people and replace BTC with gold it is the exact same arguments. Over long periods gold has been a terrible investment compared to something like the S&P [1] so keep that in mind when hyping BTC.
[1] http://www.marottaonmoney.com/since-1979-the-sp-500-grew-13-...