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Is There a New Dotcom Bubble?
- Thread starter Juan
- Start date
- Dec 15, 2016
- 4,664
- Tinnitus Since
- 08/2014
- Cause of Tinnitus
- Several causes
The EU should move faster to approve the Digital Markets Act as soon as possible.
"The Digital Markets Act (DMA) is a legislative proposal of the European Commission that intends to ensure a higher degree of competition in the European Digital Markets, by preventing large companies from abusing their market power and by allowing new players to enter the market."
https://en.wikipedia.org/wiki/Digital_Markets_Act
"The Digital Markets Act (DMA) is a legislative proposal of the European Commission that intends to ensure a higher degree of competition in the European Digital Markets, by preventing large companies from abusing their market power and by allowing new players to enter the market."
https://en.wikipedia.org/wiki/Digital_Markets_Act
- Dec 15, 2016
- 4,664
- Tinnitus Since
- 08/2014
- Cause of Tinnitus
- Several causes
Why it's too early to get excited about Web3
https://www.oreilly.com/radar/why-its-too-early-to-get-excited-about-web3/
https://www.oreilly.com/radar/why-its-too-early-to-get-excited-about-web3/
MemberThere are some glaring oversights in this article - such as the inference that it's nothing more than a get-rich-quick scheme - without really understanding the difference between what we have now and what some are trying to build. Also, everybody is free to participate which makes it a truly free market. Traditionally, all the big venture capitalists are given first dibs in nearly all traditional tech opportunities, but some have rejected this template and have gone to the people first. This is possibly the first time in history that the little man has had a head-start on the big conglomerates, and this has helped redistribute wealth more than anything else. I invested in Web 3.0 way before it was on anybody's radar. I got into Polkadot on day 1 and made a lot of money. I also invested in Ocean Protocol for myself and Tinnitus Talk, and that's another Web 3.0 project that aims to solve a real world problem. It has a lot of potential because of how early it is, and that's regardless of the short term price movements.
The reference to Charlie Munger kind of made me roll my eyes and think, ok, because he is entrenched in traditional finance and has always hated anything to do with crypto. I believe he is currently invested in American Express, and he has deep ties with the Bank of America and various other traditional financial institutions. A friend of mine was at an event where Justin Sun gave Warren Buffet a Bitcoin, and then he lied about it on TV. I've always liked Warren Buffett, though; back in the day I used to quote him a lot on my old investment forum, but he is definitely out of touch when it comes to this subject. I still follow his philosophy, however, and that is to buy and hold for a long time.
Crypto goes through rapid boom and bust cycles which is well-known; it's nothing new. The dot com bubble is a bit of a misnomer because it really was the next big thing and anyone who held through with good stocks not only succeeded, but succeeded big.
It kind of reminds me of the articles that used to get written about the internet 20 years ago. Take this one, for example, from December 5th, 2000:
Researchers found that millions were turning their back on the World Wide Web, frustrated by its limitations and unwilling to pay high access charges.
They say that e-mail, far from replacing other forms of communications, is adding to an overload of information.
Experts from the Virtual Society project, which published the report, say that predictions that the internet would revolutionise the way society works have proved wildly inaccurate.
Many teenagers are using the internet less now, and the future of online shopping is limited.
This aged well
and that's kind of my point when it comes to these kinds of articles.The only parameter that really matters is the number of people adopting it, and crypto is outpacing the internet's growth curve by a factor of two, making it the fastest adoption of a new technology in all recorded human history. I personally don't see this going away; it will only get bigger and better just like the internet did, in my opinion. However, nobody can predict the future as it's all just a matter of probabilities, and a lot depends on what the governments do.
I'm happy to speculate, though, as I get rewarded appropriately for holding my money in a crypto account, unlike the banks that essentially take your money to make a big profit, and reward you nothing.
- Dec 15, 2016
- 4,664
- Tinnitus Since
- 08/2014
- Cause of Tinnitus
- Several causes
Warren Buffet and Charlie Munger are sitting on a huge pile of cash. They would invest in anything they deemed profitable.
What did they do?
They pulled out from airlines and the tourist industry.
They keep the cash.
They did not touch crypto.
Warren Buffett has a net worth of around $100b and he's 91 years old. What need does he have to invest? Especially in something risk-on like crypto?
Charlie Munger doesn't understand crypto at all and he is deeply involved with the traditional banking system which is massively corrupt. Of course, he's going to be against it! Just like every central banker is. Wall Street is nothing more than a big boys club making billionaires even richer, and often at the expense of hard-working retail investors. We had this debate around this time last year when I was busting my ass in the mail centre working night shifts. I invested all that money and made exponential gains on it.
The rampant inflation is crippling the purchasing power of everyone's cash, particularly the working classes, so leaving money in the bank is a terrible idea. It's a guaranteed way to lose around 15-20% a year in this climate.
You're like a paradox to me because you are always contradicting yourself. You hate big tech, but you like to support big tech. You hate central banks for fucking up the world's economy, yet you like and support the current banking system. It seems you don't like the idea of Web 3.0, so you'd rather Google and Facebook maintain their centralised power and control, and allow them to monetise our data at will, etc, rather than let individuals have control over their own data which they can choose to monetise if they so wish. Why let them keep all the money when it can become decentralised, tokenised, and shared? You're a real enigma.
You never answered my earlier question, either.
Crypto will allow for poorer people to invest in things that would normally have been out of their league, such as investing in property. This will make things fairer and more even. Everything will eventually become tokenised, meaning one could profit from buying tokens in a luxury property, for example, which would previously have been impossible. Everyone will be able to participate in such things rather than just a select few.
- Dec 15, 2016
- 4,664
- Tinnitus Since
- 08/2014
- Cause of Tinnitus
- Several causes
- Dec 15, 2016
- 4,664
- Tinnitus Since
- 08/2014
- Cause of Tinnitus
- Several causes
Ironically, in order to invest in property, even if it seems a contradiction, ordinary people need that central banks raise the interest rates, which will put an end to the real estate bubble.
Bricks and mortar investments are always a good option. There have been many housing bubbles over the years, so it's not such a big deal if you are buying something to keep. If you own something outright then you will earn a yield, and the underlying price of the asset becomes less important, especially considering that the trend over time has always been up (including the bubbles). The only time it can become a problem is if you are paying off a mortgage and you go into negative equity. My parents bought their first house for like £2k, and it's now worth over £300k.
My plan is to rent out my current house and buy a new one outright to live in. That way I can keep what I've got as an ongoing investment that will pay me a yield. I want to do this to help towards my retirement.
I still don't see what's funny about it, but each to their own I guess.
- Dec 15, 2016
- 4,664
- Tinnitus Since
- 08/2014
- Cause of Tinnitus
- Several causes
Now I know you don't understand the real estate market either, and how complex it can be.
- Dec 15, 2016
- 4,664
- Tinnitus Since
- 08/2014
- Cause of Tinnitus
- Several causes
Fed's second-in-command resigns after trading scandal:
Richard Clarida steps down early after failing to report stock sales at onset of the pandemic
Maybe sending the guy to jail would be a better punishment... make of him an example for ECB bankers and the rest of FED members.
Jay Powell keeps failing to do what has to be done, this is, raising interest rates now. Let alone the ECB... those are just a disgrace for Europe.
Richard Clarida steps down early after failing to report stock sales at onset of the pandemic
Maybe sending the guy to jail would be a better punishment... make of him an example for ECB bankers and the rest of FED members.
Jay Powell keeps failing to do what has to be done, this is, raising interest rates now. Let alone the ECB... those are just a disgrace for Europe.
- Feb 25, 2021
- 1,133
- Tinnitus Since
- 01/2020
- Cause of Tinnitus
- Noise
- Dec 15, 2016
- 4,664
- Tinnitus Since
- 08/2014
- Cause of Tinnitus
- Several causes
The market will drop for sure.A 40 % market drop before summer?
I'll bet you a nice dinner with cervezas
I'm surprised at the NASDAQ rebound today. It's like the market (or those unexperienced investors from Reddit) does not believe that Jay Powell is going to close the tap, reduce the FED's balance sheet and increase interest rates... forcing the ECB to act too and raise interest rates.
If the FED raises rates 4 times this year, which is now the base scenario, the ECB will have to follow and raise interest rates too or the euro will tank...
- Feb 25, 2021
- 1,133
- Tinnitus Since
- 01/2020
- Cause of Tinnitus
- Noise
- Dec 15, 2016
- 4,664
- Tinnitus Since
- 08/2014
- Cause of Tinnitus
- Several causes
US inflation soars to 7% for first time since 1982.It's gonna be a bumpy ride alright
Jay Powell and his useless FED should congratulate themselves. No one had ever witnessed the level of incompetence they are displaying this time!
- Dec 15, 2016
- 4,664
- Tinnitus Since
- 08/2014
- Cause of Tinnitus
- Several causes
Christine Lagarde is such an idiot. She keeps saying month after month, year after year, that inflation will magically dissipate and inflation only goes up and up and up... The eurozone is doomed unless Lagarde is fired.
Every time Lagarde opens her mouth she is proven wrong. All her forecast are just useless. This useless person is ruining Europe.
The French have the answer here. All they have to do is sacking Macron and then all Europe will be able to get rid of Lagarde and the other disgrace in the ECB: Luis de Guindos, the infamous vice president.
This is Luis de Guindos career in a nutshell:
- Worked as a Lehman executive in Spain: Lehman collapsed.
- Worked as Finance Minister in Spain: Spain had to be bailed out by the EU.
- Now he is "working" as the ECB vice-president... please God help us all!
Every time Lagarde opens her mouth she is proven wrong. All her forecast are just useless. This useless person is ruining Europe.
The French have the answer here. All they have to do is sacking Macron and then all Europe will be able to get rid of Lagarde and the other disgrace in the ECB: Luis de Guindos, the infamous vice president.
This is Luis de Guindos career in a nutshell:
- Worked as a Lehman executive in Spain: Lehman collapsed.
- Worked as Finance Minister in Spain: Spain had to be bailed out by the EU.
- Now he is "working" as the ECB vice-president... please God help us all!
ajc
Member
- Feb 6, 2018
- 1,170
- Tinnitus Since
- 11/2002; spike 2009; worse 2017-18
- Cause of Tinnitus
- Loud music - noise damage
- Dec 15, 2016
- 4,664
- Tinnitus Since
- 08/2014
- Cause of Tinnitus
- Several causes
I think the world is going down the drain. In the twentieth century people would have gone on strike or demonstrated if they had to endure the nonsense we are living in, with constant manipulation, wrong economic decisions (taken on purpose), politicians that only serve Big Tech and a bunch of billionaires, tax havens everywhere for the rich, and high taxes for the rest... it's just terrible.
And people do not react.
- Feb 25, 2021
- 1,133
- Tinnitus Since
- 01/2020
- Cause of Tinnitus
- Noise
- Dec 15, 2016
- 4,664
- Tinnitus Since
- 08/2014
- Cause of Tinnitus
- Several causes
Netflix is taking a big hit. The NASDAQ is totally overvalued, and overbought.For what it's worth I didn't give a crap about interest rate either before tinnitus!
@Juan, today we saw another really sick market day.
It will be just as always a rough landing, the poorest will pay the price, then some sanity for some years before it goes right back to hell.
- Aug 7, 2021
- 1,478
- Tinnitus Since
- 2012 (mild) & 04/2021 (severe)
- Cause of Tinnitus
- Ototoxicity (2012) Unknown-likely noise induce (2021)
Don't invest what you can't afford to lose, especially in something as volatile, erratic, and bubbly as cryptocurrency.
I wouldn't bet on crypto being a lucrative long term investment strategy. Cash will still be king in regards to anonymous transactions anyways.
I wouldn't bet on crypto being a lucrative long term investment strategy. Cash will still be king in regards to anonymous transactions anyways.
Very true. This is the golden rule that should never be broken.
This really depends on one's objective. If it's to make the most money possible then there's no better asset class, performance-wise, than the crypto markets. In the last 12 years, nothing has come remotely close to matching the kind of returns that can be made, but it's not for the faint-hearted, or for newbies. It can wreck you in a heartbeat if you don't know what you're doing. The volatility is what allows you to make the insane gains, and adoption continues to grow year on year. To put it another way, the only way anyone could have possibly lost any money, so far, is by panic selling or by buying a scam shit coin. Even with this current crash, my core holdings are still up by over 20x, and I took profits on the way up at much higher margin intervals. I also made many multi-bagger trades along the way. My original investment came out a long time ago along with a ton of profit. It's a free ride from here for me.
The ones who lose are usually the retail investors who get in far too late and buy the top and then panic sell when they see a 40% drop (because they don't understand how markets work). I warned people not to buy in the investment thread when the prices were maxing out because that's usually when retail investors become interested (this is something I've never understood).
If the price is much lower, people aren't interested anymore. It's pretty funny I think.
Take a look at this:
I've marked out a 9-year chart of Bitcoin. The green circles show where retail often turn up, and the red circles show where they usually get flushed out. It's pretty much: buy, get wrecked, buy, get wrecked, buy, get wrecked, etc, over and over again. Those circles represent 30-85% price corrections. Now, look at the blue dots; the ones that bought and forgot about it, and ignored all the noise. What happened to them? They all accumulated life-changing wealth.
All markets are the same, but the boom and bust cycles in crypto occur at a much faster rate. People shouldn't really dabble in these things if they don't understand what they're doing. Of course, it's not for everyone, and there are plenty of other options that will give steady but slower returns if the volatility is too much to handle.
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