happybadger [he/him] to news • 2 years ago40% of bitcoin investors are now underwater, new data showsexternal-linkmessage-square99 fedilinkarrow-up1155file-text
arrow-up1155external-link40% of bitcoin investors are now underwater, new data showshappybadger [he/him] to news • 2 years agomessage-square99 Commentsfedilinkfile-text
minus-squarezifnab25 [he/him, any]hexbear15·2 years agoThis isn't even retail investors. It's the banks that are liquidating. Interest rates are going up, so you don't need to chase the Bitcoin dragon for a big annual yield anymore. You can buy I-Bonds at a guaranteed 9%. Turns out the price of Bitcoin is subject to Keynesian Monetary Policy. Everything Libertarians believe isn't just wrong, its ass-backwards. link
minus-squareCTHlurker [he/him]hexbear3·2 years agoLibertarians frequently get cause and effect mixed up. It's why their analysis is mostly horseshit, and why libertarian writing can only ever be used to diagnose a problem in society. link
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This isn't even retail investors. It's the banks that are liquidating.
Interest rates are going up, so you don't need to chase the Bitcoin dragon for a big annual yield anymore. You can buy I-Bonds at a guaranteed 9%.
Turns out the price of Bitcoin is subject to Keynesian Monetary Policy. Everything Libertarians believe isn't just wrong, its ass-backwards.
Libertarians frequently get cause and effect mixed up. It's why their analysis is mostly horseshit, and why libertarian writing can only ever be used to diagnose a problem in society.