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Started By
Message
re: Futures falling
Posted on 3/13/23 at 8:23 am to SlowFlowPro
Posted on 3/13/23 at 8:23 am to SlowFlowPro
You’re probably right, fear is driving the cryptos, but can you buy groceries with them.
Brokerage houses being hit hard on the stock market too.
Brokerage houses being hit hard on the stock market too.
0
Posted on 3/13/23 at 8:23 am to lsuoilengr
quote:I moved some extra cash over to my fierce account to play with on the dip.
I’m expecting a 30% drop in the stock market
Posted on 3/13/23 at 8:24 am to SlowFlowPro
quote:
Also, and this is something I've argued with crypto bros for years, if you don't have a mechanism to convert crypto into actual USD, then what good is it long-term? If banks are crashing, there won't be a way to convert crypto to USD.
True, unless there is an economy where only crypto is used. We are no where near that yet.
Posted on 3/13/23 at 8:28 am to NC_Tigah
quote:
Markets are set to open flat.
Everyone is probably in wait in see mode. Then the hedge fund hit the sell button in unison, we gap down, people panic and hedge funds cover their shorts slowly (by buying more and selling less).
Posted on 3/13/23 at 8:31 am to Catchfalaya
quote:
the chicken has come home to roost.
It's too early to start pointing fingers. Chicken is doing the best he can, but he's just one bird, my guy.
Posted on 3/13/23 at 8:33 am to GumboPot
quote:
True, unless there is an economy where only crypto is used. We are no where near that yet.
Governments will never allow that.
Posted on 3/13/23 at 8:33 am to GumboPot
quote:
unless there is an economy where only crypto is used. We are no where near that yet.
Exactly and has crypto has become an investment more than a vehicle for transfer the actual use as a currency has decreased substantially. Crypto is even good for that anymore and the adoption rate of using crypto as a currency is probably sub 1%
Posted on 3/13/23 at 8:41 am to GumboPot
quote:Then I can get the hell out of my apparently increasingly risky cash positions.
Everyone is probably in wait in see mode. Then the hedge fund hit the sell button in unison, we gap down, people panic and hedge funds cover their shorts slowly (by buying more and selling less).
Posted on 3/13/23 at 8:41 am to SlowFlowPro
quote:
Crypto is even good for that anymore and the adoption rate of using crypto as a currency is probably sub 1%
What is interesting about CBDCs is that if everyone has them on their phone people will get used to using "digital currencies". Overtime they will figure out that CBDCs are just a digital dollar and is prone to devaluation over time via inflation. Because people will be used to using CBDCs on their phones the natural progression to crypto for the masses will become easier. That's the biggest irony of CBDCs to me...it will help crypto adoption.
Posted on 3/13/23 at 8:45 am to GumboPot
quote:
That's the biggest irony of CBDCs to me...it will help crypto adoption
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