Is There a New Dotcom Bubble?

#516
Lagarde lost a fantastic opportunity to raise interest rates TODAY. She is neglecting her job and should be fired.
 
#520
Juan said:
Regarding bitcoin and the rest of the crypto-shit: "store of value, they said" :p :D :ROFL: :LOL:
Click to expand...
It's still beating everything else in terms of value, though; that's what's crazy about it. It's beating the dollar, gold, and the stock market. Crypto always has insane rallies followed by huge corrections/crypto winters, and it's something I've discussed a lot in the stock chat. This is nothing new and should have been anticipated as I repeatedly warned everyone to expect it.

The macro outlook is looking terrible for everything at the moment and that's down to the central bankers, the war, and the supply chain problems that started during the lockdowns.

What is remarkable, though, is that Bitcoin is down nearly 70% from its ATH and it is still outperforming gold and all the other major indices. The same can be said for various Alts that are now over 90% down. I'm still up 700% on some that are down 92% from their ATH's. I'm saying this to add a bit of perspective because you won't read that in the media.

The reason for this is simple: it's down to the liquidity. Compared to gold and other assets, Bitcoin and crypto are like a spit in the ocean and this leads to a lot of volatility where the movements are much more pronounced. So, a 4% drop on a major index can be like the equivalent to a 17% + drop on Bitcoin. For Alts it can be like a 40% drop equivalence. In time, when the asset class matures, these volatility spikes will smoothen out as the liquidity increases, but for now, it's the nature of the beast.

You have to have a time horizon in mind when investing, so anyone buying late into last years bull cycle should have been thinking longterm (like 5-10 years, in my opinion). You cannot enter a market after such ridiculous percentage gains and expect it to keep going for short term gains. You either wait for a crash to start averaging in, or you buy, hold, and forget.

EDIT:

This is also the time where the vast majority of the Alts get wiped out. Only the best projects survive; it's kind of like natural selection.
 
#521
Sorry, the post above was supposed to say 700% plus. Solana, for example, I'm still up 860% and I didn't even use my own money to buy that. It was all from my Visa card cashback, so I figured I'd hold on to the rest of that no matter what for at least 5 years (all or nothing kind of thing because I can't lose). I already took a load of profit out.

We're talking massive exponential gains here that far exceed anything else.
 
#524
US mortgage rates for 30-year mortgages. We are in for A LOT of pain:

upload_2022-6-23_12-51-44.png
 
#527
FCA investigates Wise co-founder after tax default
Kristo Käärmann was included on HMRC's list of deliberate tax defaulters in September 2021

4000.jpg

Kristo Käärmann started Wise in 2011 with Taavet Hinrikus. Photograph: Bloomberg/Getty Image

The UK's financial regulator is investigating the co-founder of payments company Wise after he failed to pay his taxes.

Kristo Käärmann was included on HM Revenue and Customs' list of deliberate tax defaulters in September 2021, after failing to comply with his tax obligations. He failed to pay £720,495 for the 2017-18 tax year and received a fine of £366,000, the tax authority said.

Wise said on Monday that the Financial Conduct Authority (FCA) had "commenced an investigation regarding the regulatory obligations and standards to which Kristo is subject", after it shared details of its own investigation.

Wise, formerly known as TransferWise, is one of London's most prominent financial technology, or fintech, firms, after its shares floated on the London Stock Exchange in July 2021, in a boost for the City.

Käärmann and his co-founder, Taavet Hinrikus, started Wise in 2011 after the former struggled to transfer money from a UK bank account to an account in their native Estonia without paying extortionate fees.

The regulator has the power to rule that Käärmann is not a fit and proper person to be a senior manager of an investment firm – a role he occupies because Wise offers stock trading as well as international payments.

Käärmann and Hinrikus became paper billionaires for several months after the flotation, which valued the company initially at almost £9bn. Its value peaked at nearly £12bn in September, but has since fallen back to about £4bn, amid concerns over growing competition in cross-border payments and a general move away from fast-growing tech businesses by investors around the world.

Käärmann owns 19% of Wise's shares, a stake worth about £740m, while Hinrikus owns 9%, valued at about £350m.

David Wells, the Wise chair, said: "The board takes Kristo's tax default and the FCA's investigation very seriously. After reviewing the matter late last year the board required that Kristo take remedial actions, including appointing professional tax advisers to ensure his personal tax matters are appropriately managed.

"The board has also shared details of its own findings, assessment and actions with the FCA and will cooperate fully with the FCA as and when they require, while continuing to support Kristo in his role as CEO."
 
#531
Is there a new dotcom bubble?

Joeseph Stope knows the answer!

Or rather, knows the question :whistle:

Will the bath you take on the stock market be bigger than the roasting you take from inflation?

Simple!
 
#532
Joeseph Stope said:
Is there a new dotcom bubble?

Joeseph Stope knows the answer!

Or rather, knows the question :whistle:

Will the bath you take on the stock market be bigger than the roasting you take from inflation?

Simple!
Click to expand...
Those who put money on NASDAQ are going to be "double roasted":

- By inflation
- By the collapse of NASDAQ

And EU countries have not started yet to chase all those American tech companies who do not pay taxes here.
 
#535
After breaking almost every competition and antitrust law in the EU, let alone data protection and privacy laws... Amazon should face a huge fine.

EU tech regulation

Amazon to share more data with rivals after EU antitrust deal
 
#536
In Spain crypto brokers are already closing down shop but the most alarming part is that they are requesting a cancellation fee to close the accounts and also a periodical fee that is charged every month! :eek: :ROFL:
 

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