Printer goes BRRRRRRRRRR
35% of all US Dollars have been printed this year.
Let that sink in for a moment. In June 2020, the US government printed more money than they did in 200 years!
The definition of inflation is being broke but having a lot of money in your pocket. That's where the financial system is taking us today.
Everyone is starting to see it, and that's why you are seeing money pouring into Bitcoin and other cryptocurrencies.
"If pension funds and insurance companies in the U.S., euro area, U.K. and Japan allocate 1% of assets to Bitcoin, that would result in additional Bitcoin demand of $600 billion"
- JP Morgan Strategist
Even the US government is looking at crypto to get them out of this mess.
“Increase the understanding in the Senate about Bitcoin, what it is, what it does, how it can be an asset that can grow and develop as an adjunct, so basically alongside our fiat currency, and that it should be allowed a clear path and avenue — an interstate highway in fact — to grow and develop alongside our fiat currency.”
- United States Senator-elect Cynthia Lummis
If every person in the world was to hold Bitcoin, the most they could accumulate is 0.00245 BTC, even when every Bitcoin is printed, they still would only be able to get 0.0028 BTC. This assumes an even distribution of Bitcoin across every living person on Earth.
I still believe mass adoption will be very difficult without adding layers of centralization due to the average user's inability to protect and store their private keys. More and more centralization options will pop up trying to solve that (like Bank cards and so on).
Posted Using LeoFinance Beta
https://twitter.com/Bhattg18/status/1339516466652086272
https://twitter.com/itsjustmarky/status/1339516790653726722
Bitcoin on !
Funny that it did not crash like a normal market... 🤭
aha!
Seems like 'people' or the 'markets' are getting better and faster at creating and hodling new stuff. There was barly any inflation in Europe over the last 10 years.
The question remains, will this liquidity ever hit straight on any market or not. It might also just pour through the system and regather at some billionaire's space project.
A lot of this goes directly into bonds.
Posted Using LeoFinance Beta
Do you think the Banks will get into trouble soon again? I'm worried they can't survive a fair reevaluation of urban real estate.
Oh they will be fine, the government will see to that.
Posted Using LeoFinance Beta
The romans discovered the meaning and now with digital printing it will implode only harder.
The second dark ages could potentially happen if they continue such fiscal policies in the world.
That is so totally crazy. I love the face of people every time I tell them the statistics of the amount of fiat that has been printed lately. It is just staggering. It is also interesting just how clueless people are. FIO is a pretty good project that is looking to take some of the pain out of people using traditional keys. There are a couple of other blockchains that are working on that issue too. WAX is the firs that comes to mind.
Posted Using LeoFinance Beta
I honestly don't think people understand the effects of printing that much money.
Posted Using LeoFinance Beta
They are 100% clueless, that's for sure.
Posted Using LeoFinance Beta
That's actually interesting and true for any level of wealth. People from deep within the crypto space really understand a lot more about markets and derivatives than most bank employees.
Posted Using LeoFinance Beta
Wow
Sadly the centralization of bitcoin wealth is seemingly worse than any fiat currency that will start to be a barrier some day.
Yea this is something that will hunt the economy for years to come...
Yea this is something that will hunt the economy for years to come...
Yes. That is absolutely what I mean by a stable currency. That's all I'm saying:
Keep up the good work!
Joking aside, this system will come to an end in the near or more distant future. That remains to be seen. But then there is at least a chance that it will be replaced by a better system. This printer industry won't be around that much longer.
Or this issue will continue to haunt us after the nations have established their stable coins and then print digitally. Wait and see, drink tea.
마키맠 이 샵샵놈아~!
Marky Goes Dowwwwwwwwnvotinnnnnnnnnn FUCKERS !!!
Wow, this is an interesting thing to point out! There is going to be some serious long term consequences once the smoke clears... time will tell!
at least they didn't have a crash :p
Posted Using LeoFinance Beta
0.0028 BTC would be $280 USD at $100,000 BTC.
Price could go a lot higher than that before having to add additional layers. Could even get to one dollar SAT?
Imagine that.
This is why I finally stopped trying to short the market. More and more money coming and it has nowhere to go but stocks (in terms of traditional investments)
Posted Using LeoFinance Beta
Most of this money went into the stock market, only way to prevent inflation/money printing is high marginal tax rate on the rich... unfortunately most of the people who run the gov like being rich and don't care about the poor...
just how u make cash here on witness + daily posts, BRRRR i dont get why @therealwolf @pfunk @slobberchops @blocktrades @joele @good-karma @yabapmatt @ocd-witness @abit @followbtcnews @gtg @aggroed @arcange @timcliff @drakos
pure abuse of network and price dump.
I’m not the one that dumped all their stake made by farming with all your alts like @sock and back room vote trading deals.
yet u pwned HIVE/STEEM price with bots, witness rewards and hacks on games
What a mess the FED gotten us all in to...
Nice
F***, I had no idea it was that bad. This really scares me to be honest. We have a generation that has never experienced inflation before. I think they're going to experience it soon. Currency devaluation always seems to be the default option for governments. Sigh...
Posted Using LeoFinance Beta
Adding to your story
the US government wants to auction
bitcoin they seize and some financial
guy is trying hard for them to start
a fund of bitcoin.
If they go that route, it will give
bitcoin and crypto along a stability
that will be equivalent as gold now.
Posted Using LeoFinance Beta
I think centralization with BTC is inevitable since people are used to paying the custodial premium and there’s money to be made offering said service! Those that choose not to obviously get a better deal like everthing you tend to pay more the less you know
Posted Using LeoFinance Beta