Is There a New Dotcom Bubble?

[Juan]

She's a bit too late for this. The US has fallen behind in privacy and data protection laws. And the EU does not really enforce laws regarding those issues. Politicians have sold themselves to Big Tech.

Kamala Harris to call for urgent action on AI threat to democracy and privacy | Artificial intelligence (AI) | The Guardian

By the way, I don't know if WeWork was put under the "tech" label but anyway, its business model was just absurd and the company, which was once valued at $47bn will declare bankruptcy soon, with a valuation of around $135m.

 

[Ed209]

The US created $600b in new debt in a single month. It's ridiculously unsustainable and the total now stands at just shy of $34t. They need to learn how to budget (and fast) because if this continues they'll be adding around $7t more debt this year alone (which is an increase of 21% of the total, or 1.7% a month). These are truly astronomical numbers, and they are risking losing their reserve currency status.

Bitcoin remains one of the best hedges against this madness as it is one of the few things that isn't centrally controlled that is recognised by the masses. It's farcical that the corrupt SEC still hasn't approved a Bitcoin ETF for the US. It's as if they want people to lose money.

 

[Ed209]

The US debt situation keeps getting worse, but I did say (like a broken record) that they risk bankrupting themselves if they raise the rates above 3% (because they can't afford it).

What is their plan going forward because this debt is toxic and unsustainable? Other countries are losing interest in buying American debt.

 

[Ed209]

This is exactly what I was saying to you, @Juan, regarding the Financial Times (around two years ago):

When all of one's information comes from a single source, then you're at risk of taking on their biases and making them your own. This is what I warned you against as all the articles you quoted, back in the day, were from the Financial Times. I remember you mentioning how funny the comment section was which was full of people ridiculing Bitcoin. That's because they attract equally ill-informed people, and you're not exposing yourself to any opposing views. It becomes an echo chamber.

 

[Daniel Lion]

Dearest @Ed209,

Besides my magic basket of crypto, blue chip stocks, gold and silver, do you think hedonistic pleasures are a worthwhile investment? I mean there's no tangible financial return but my gonads and general sense of well-being are better.

Any thoughts?

 

[Ed209]

Dearest @Ed209,

Besides my magic basket of crypto, blue chip stocks, gold and silver, do you think hedonistic pleasures are a worthwhile investment? I mean there's no tangible financial return but my gonads and general sense of well-being are better.

Any thoughts?

We should all invest in life and experience it to its fullest, but unfortunately, many of us prioritise work and other insignificant things and miss out on too much.

There is a balance. Some can focus too much on the pursuit of money and forget to make a life for themselves. So in answer to your question, yes, it's very important to invest in your well-being.

 

[Daniel Lion]

We should all invest in life and experience it to its fullest, but unfortunately, many of us prioritise work and other insignificant things and miss out on too much.

There is a balance. Some can focus too much on the pursuit of money and forget to make a life for themselves. So in answer to your question, yes, it's very important to invest in your well-being.

Love you @Ed209.

I was just messing and looking for a laugh.

I agree with your response. As always intelligent, measured, and respectful.

Wishing you and the family happy holidays and an awesome New Year.

When I make it to the UK, hopefully around April, I'd love to give you a hug and grab a coffee. The hug being purely platonic.

Your friend,
Daniel

 

[HighleyTall]

@Juan and @Ed209, greetings my friends.

Have either of you bought gold? Like a small gold bar?

Just curious as to your thoughts concerning gold.

Well wishes,
Daniel

Gold is money; everything else is credit. Gold is the best hedge against inflation. I've been buying it since 2008. The Euro is a disaster.

 

[Jammer]

Gold is money; everything else is credit. Gold is the best hedge against inflation. I've been buying it since 2008. The Euro is a disaster.

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Fortunately for my family, I bought a house in 1996 for $210,000 USD with a 10% down payment. Now, it is worth $1.5M. My personal investments have also done well since the great recession.

I feel both lucky and blessed.

 

[just1morething]

Fortunately for my family, I bought a house in 1996 for $210,000 USD with a 10% down payment. Now, it is worth $1.5M. My personal investments have also done well since the great recession.

I feel both lucky and blessed.

But apparently not blessed enough to donate a dime to Tinnitus Talk.

 

[HighleyTall]

Fortunately for my family, I bought a house in 1996 for $210,000 USD with a 10% down payment. Now, it is worth $1.5M. My personal investments have also done well since the great recession.

I feel both lucky and blessed.

Just like if you had bought gold in 2000 (x7).

Indeed, real estate is a good investment, too. However, I'm selling currently, and soon, they will be going after it with wealth and property taxes. And I'm getting tired of the whining and damaging of the tenants.

 

[Ed209]

Good opportunity?

You have to be joking... stock markets and bitcoin will continue falling.

The FED is going to raise interest rates, according to market consensus, 3 times next year, and it's going to taper faster than expected.

Tech stocks are going to feel the pain..

And governments, sooner or later (probably sooner) are going to have to tax Big Tech. People are sick of paying taxes on behalf of Jeff Bezos, Bill Gates and Peter Thiel. They should pay taxes as well.

I always said Bitcoin would hit $100k. It happened today:

 

[Joeseph Stope]

In my humble opinion (which I acknowledge may not count for much), the rise in Bitcoin might reflect a rise in fear. It seems that money has to go somewhere, and in today's world, uncertainty is everywhere.

France and Germany are struggling with new elections. Russia and China each face their own problems. All eyes are on the wild card: Donald J. Trump.

• Will he start a trade war?
• Will he sell Ukraine down the river?
• Will he decouple from NATO?
• Will he build the wall with Mexico?
• If China seizes Taiwan, will he take it lying down?
• How severe will global warming become?

Is it any wonder that Bitcoin is flying high?

 

[Ed209]

In my humble opinion (which I acknowledge may not count for much), the rise in Bitcoin might reflect a rise in fear. It seems that money has to go somewhere, and in today's world, uncertainty is everywhere.

France and Germany are struggling with new elections. Russia and China each face their own problems. All eyes are on the wild card: Donald J. Trump.

• Will he start a trade war?
• Will he sell Ukraine down the river?
• Will he decouple from NATO?
• Will he build the wall with Mexico?
• If China seizes Taiwan, will he take it lying down?
• How severe will global warming become?

Is it any wonder that Bitcoin is flying high?

I think it's just down to the four-year cycle and the interest rates. From the data we had, when this discussion started in 2020, everything pointed towards Bitcoin hitting $100k. Markets are just an assessment of risk.

I warned people of the drawdown and said it should be taken as an opportunity when it occurs, but was met with a ton of resistance. You have to be emotionless and logical about your decisions at all times, but as I said back then, just about anything was better than keeping cash in a savings account.