Fusion wrote:Things are really heating up. I don't have a vote but I will add this word of caution.
There are articles circulating about ordinary people, beginning to use their homes as ATMs again similar to what happened in the late 90's. And they're using the proceeds from 3-5 year ARMs, cheap money but still more DEBT, to buy into this phenomenon of the crypto world.
For anyone contemplating this I'd strongly advise against. All it takes is a slide of either asset (home values or crypto values) to cause panic. I honestly cannot envision the Fed making debt more expensive in the near term markets so it is an attractive proposition. But think if both had a slide in values...billions of net worth would be wiped away. So think twice before playing this casino. Just my two cents.
Yah, we should definitely always keep in mind in June we went from $115B down to $70B over 4 days. If that didn't teach people a lesson, that's gonna be interesting. Here's the thing, this is a world market. The more people do that the more people stack at the bottom. This is a fixed e-commodity. I don't recommend the debt, but people who constantly pull liquidity in and out will get replaced by other people, this isn't just a US market. This is the first global
market with fixed values. That's the whole point of this experiment. No one can create more. If we Americans sell, people in China, Korea, Japan, Europe, Russia, Venezuela will all gladly buy when it dumps. The top 6 in volume in 1 market spreads 4 countries. The US is #2. This isn't the same game as the US market. There are people like us in other countries waiting for us to sell so they can buy cheap. https://coinmarketcap.com/currencies/bitcoin/#markets
Debt is not good to start with. People who use debt are in and out because they have to service debt. Hopefully that guy paid back the loan and is using the free money. The ones that play it like a casino will gradually give away to the stackers and drive the price up and their risk goes up, while people who buy low risk is lower.
Definitely recommend everyone think twice..
This environment is filled with very smart thieves, scammers, and whales. It's also filled with people who trust a giant computer not to cheat. It's only other people and our own ignorance that will cost us $$. No big corps in the crypto market. It's what we've always wanted right? lol. SHTF, this is the kind of market we'll be in bartering with silver, free market. It's practice..