Ok, lets get silly, what are the chances that this could start a chain reaction type scenario like the housing market in 2007? Are we looking at a point and laugh at the small group of dumb dumbs crash, or a holy shit here we go again crash?
Then it become a de facto Federal Reserve controlled security and all the cryptobros cry and try to start a new “real” crypto that will be revolutionary and free
what is it with the prefix "e" for internet stuff circa 2016 or so?
we had "email" since the 90s, and that was like the ONE word that had it, (okay fine, also ebay) then 20 ENTIRE YEARS passed, and only then did people start using words like 'egirl' 'eboy' and everything else
Probably because it specifically refers to people who both dress and present themselves a certain way, and who are terminally online. It's a phenomena that has possibly existed as long as people have used the internet, but it's easier to spend hundreds of hours online than it used to be, so it's a more common phenomena now that when the internet was new.
Not that I know what being terminally online is like. Haha.
What are the hard limits on the capability of the state to conjure the funds needed to bail out the next big crash? Is there a limit, or can the can be kicked indefinitely, do you think?
Yes, this is how the ruling class would have it, but isn't it one of the inherent contradictions of neoliberal capitalism that even the emergency bail out monies have to be accounted for, which results in further austerity which is already at ridiculous levels?
They just handed like $50k in free money to every petite boug with a little roofing company 2 years ago and didn't bat an eye, I think they'll funnel every penny to the wealthy until the very moment this all collapses.
There was an article somewhere that stated that some homeowners were thinking of defaulting on their mortgage payments if the interest rates got too high, which it could since it's what Biden is doing to quell inflation. There was also like a random tiktok user recommending people to invest all their savings in bitcoin or whatever and use their yields to pay the monthly mortgage payments. Which is probably advice no one took, but it's worth considering that someone out there defaulted due to the BTC crash
I think we're looking at a "holy shit here we go again" crash, but I don't think it's caused by the crypto bubble popping. Rather, crypto is crashing because people are pulling out to cover their losses in every other kind of investment.
I know at least one freelance designer who hasn't been paid for a 3 month project because the company was overinvested in cypto and apparently can't make payroll this month. I know of two other companies that have suddenly shifted plans due to the drop - one that was opening a new office and another that was planning to take on about a dozen new staff. I've got a friend who joined a firm with a crypto-component in August and he's probably looking for a new job now.
It might not be 2008 but it's having real consequences out here.
Ok, lets get silly, what are the chances that this could start a chain reaction type scenario like the housing market in 2007? Are we looking at a point and laugh at the small group of dumb dumbs crash, or a holy shit here we go again crash?
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If Bitcoin is declared too big to fail and ends up being backed by US government bonds I will die of laughter.
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Then it become a de facto Federal Reserve controlled security and all the cryptobros cry and try to start a new “real” crypto that will be revolutionary and free
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what is it with the prefix "e" for internet stuff circa 2016 or so?
we had "email" since the 90s, and that was like the ONE word that had it, (okay fine, also ebay) then 20 ENTIRE YEARS passed, and only then did people start using words like 'egirl' 'eboy' and everything else
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Plus all the pedophiles and groomers involved.
yea, but the word "esports" has been up since at least 2004, according to Urban Dictionary
stuff like "egirl" and "eboy" started appearing out of younger genZ lexicon around 2016. Kinda weird
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Probably because it specifically refers to people who both dress and present themselves a certain way, and who are terminally online. It's a phenomena that has possibly existed as long as people have used the internet, but it's easier to spend hundreds of hours online than it used to be, so it's a more common phenomena now that when the internet was new.
Not that I know what being terminally online is like. Haha.
the bank that tether uses is a bank with CIA connections
Deltec. There's literally most dirt about it in books than online because of how old it is.
I'd start preparing my tombstone now because it's probably going to happen.
What are the hard limits on the capability of the state to conjure the funds needed to bail out the next big crash? Is there a limit, or can the can be kicked indefinitely, do you think?
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Yes, this is how the ruling class would have it, but isn't it one of the inherent contradictions of neoliberal capitalism that even the emergency bail out monies have to be accounted for, which results in further austerity which is already at ridiculous levels?
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They just handed like $50k in free money to every petite boug with a little roofing company 2 years ago and didn't bat an eye, I think they'll funnel every penny to the wealthy until the very moment this all collapses.
There was an article somewhere that stated that some homeowners were thinking of defaulting on their mortgage payments if the interest rates got too high, which it could since it's what Biden is doing to quell inflation. There was also like a random tiktok user recommending people to invest all their savings in bitcoin or whatever and use their yields to pay the monthly mortgage payments. Which is probably advice no one took, but it's worth considering that someone out there defaulted due to the BTC crash
You would have thought after 2008 that nobody would ever get an adjustable rate mortgage again, yet here we are 14 years later
I think we're looking at a "holy shit here we go again" crash, but I don't think it's caused by the crypto bubble popping. Rather, crypto is crashing because people are pulling out to cover their losses in every other kind of investment.
:this:
Hong Kong was down like 4% monday when the australian stock market was closed
subsequently ASX down 4.5% so far today
I know at least one freelance designer who hasn't been paid for a 3 month project because the company was overinvested in cypto and apparently can't make payroll this month. I know of two other companies that have suddenly shifted plans due to the drop - one that was opening a new office and another that was planning to take on about a dozen new staff. I've got a friend who joined a firm with a crypto-component in August and he's probably looking for a new job now.
It might not be 2008 but it's having real consequences out here.