Sassy Colombian
Member: Team PoP
This move by Musk seems like his push to further validate this cryptocurrency in the finance market.
Current Affairs Stocks and shares and stuff
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Elon has been hyping crypto of all types for a while, most recently dogecoin
Suppose you can look at it one of two ways - his company putting its assets in what he believes in or him running up the position of an asset he already held.
This seems an interesting choice of where to put investment.
nikom court
Player Valuation: £20m
you would have thought elon would have checked with the lads on the everton forum before buying bitcoin,lol
bitcoin went up 600% after the first US stimulus package,now they are about to print $1.9 trillion!!!
fasten your seat belts!
Toast
Player Valuation: £80m
Aye, we dismissed BitCoin, thought Covid was just the Flu and that Sandro was a centre forward.
It’s been a rough few years.
rumoured Apple is considering following Tesla, that will really make ChesterBlue's day.
Sassy Colombian
Member: Team PoP
He has indeed. Musk has been one of the people that really want to get the crypto currency going as a main form of payment. I also heard on NPR that companies with a lot of cash right now, such as Tesla, are considering Bitcoin, or another investment with bigger returns, because of how low the Federal Reserve has set interest rates. It seems Elon found that argument persuasive so his continue push for crypto has a double purpose. Making money while legitimizing Bitcoin even more.
nikom court
Player Valuation: £20m
apple,facebook and amazon just a matter of time.
holding dollars on your balance sheet is like holding an ice cube in your hand!
For it to become a form of payment though it needs to become stable and I just don't see that happening for a good while. It feels like the messaging is always how high bitcoin could get (unsurprising given it is in the interests of people who have bitcoin to try and push the price higher). For example, why would someone buy a Tesla (a depreciating asset) with Bitcoin when all the bitcoin bulls argue that bitcoin should be worth way more than it currently is?
The issue that needs to be solved before Bitcoin can become a proper form of payment is that it isn’t scalable. The technology doesn’t process transactions quickly enough for it to replace existing systems.
That is clearly a big issue too. But until there is some level of realistic certainty over what level bitcoin settles at it won't become a proper payment system. Even if I knew my transaction was processed quickly enough I wouldn't want to accept bitcoin as payment when there is a chance someone like Elon Musk says he suddenly hates it and the bitcoin I just got for selling something loses 25% of its value. You can't turn round to suppliers and say "sorry I'm paying you 25% less in fiat because bitcoin just shat the bed".
Yeah totally. The only thing it has in its favour (over other crypto) is that the supply will get to a point where it slowly diminishes but that in itself will cause problems. There’s a reason why people moved away from the gold standard. Supply side management is important.
its funny really because a lot of the investment into Bitcoin has come from one of the benefits of fiat currency.
will be interesting to see what happens when the money supply goes in the opposite direction.
nikom court
Player Valuation: £20m
forget about about bitcoin being solely a form of monetary transaction,it is both a currency and digital gold.
it has evolved into a top performing treasury reserve asset that is slowly replacing a non performing asset choosing volatile appreciation over stable depreciation.
every CEO of every big corporation in the world will be having this conversation!
who will be the next big one to put it on their books?my guess is jack at twitter!
it has evolved into a top performing treasury reserve asset that is slowly replacing a non performing asset choosing volatile appreciation over stable depreciation.
every CEO of every big corporation in the world will be having this conversation!
who will be the next big one to put it on their books?my guess is jack at twitter!
Sassy Colombian
Member: Team PoP
Earlier in the week cannabis stocks soar but today prices fell again. I still think this is an industry that has a potential to generate profits specially if the Federal government legalize it.
www.cnbc.com
Weed stocks tank as Reddit trade loses momentum
A group of pot companies is garnering attention from the same WallStreetBets Reddit army that contributed to GameStop's epic short squeeze last month.
carolinablue232
Player Valuation: £70m
Don’t use it, never have. But the federal government stance is stupid. It should absolutely be legalized and taxed. I think it’ll get there in the next 5 or so years.Earlier in the week cannabis stocks soar but today prices fell again. I still think this is an industry that has a potential to generate profits specially if the Federal government legalize it.
View attachment 117490
View attachment 117491
Weed stocks tank as Reddit trade loses momentum
A group of pot companies is garnering attention from the same WallStreetBets Reddit army that contributed to GameStop's epic short squeeze last month.
Realistically though, it’ll be up to the states, as it currently is. Same as sports betting. That was legalized federally but has only been instated in 20 or so states so far.
DuuuncanHadaPigeon
Player Valuation: £10m
Good point and as the other user said it is simply not scalable to be used as a proper payment system. It never will be. I think most bitcoin maxis would probably agree too.
I have been following one crypto called HEX which is very interesting. It looks to replace the CD/Bonds/ISA market which is worth trillions. I looked at setting up an ISA and the rates they offer you are really quite pathetic. HEX offers a pretty good interest rate whilst removing the banking class middlemen.
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