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adamLancs

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About adamLancs

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  1. adamLancs

    Nutella price crash - new recipe

    Nutella, no fruit, probably a couple of hazelnuts per jar. Something like 60% sugar... and palm oil, which is in a lot of peanut butters also, not to be mistaken for unprocessed palm oil, has to be one of the worst things to put in your body and has been linked to cancer. Which is why I choose to spread Nutella on my toast every morning.
  2. adamLancs

    The Bubbly Bitcoin Thread -- Merged Threads

    Waiting for $5000 myself. In a good position to fence sit though. Might dip my toes in at $7500. The more they ban it the more momentum there will be in the next boom. It is like compressing a spring. You cannot stop an idea who's time has come. As jj says, this downturn has legs yet, a necessary respite for people to refocus and concentrate on efforts to the betterment of humanity. Until you have survived a 90% downturn and then looked back on it as a small blip on a 10 year time-frame, you are merely just riding the waves and will reap the same rewards as somebody trading Amazon shares. Time for some calm, and much building. I mightn't be buying in again until the no-coiners descend on this topic in droves. It is an amazing indicator.
  3. adamLancs

    The Bubbly Bitcoin Thread -- Merged Threads

    You're angry at the wrong people. In a scenario where Bitcoin was the currency, debasement of the currency wouldn't be an option for governments. If they wanted to fuel HPI they would have to tax. With the current system the debasement of the currency is a stealth tax, transferred to HPI'ers and creating a huge wealth divide which is just not possible with a finite supply currency. It's mainly a lack of education problem, but people are beginning to understand. Their money is not theirs, it is somebody elses, and they can burn it at leisure. With Bitcoin nobody is debasing your earnings, the value that you create and contribute and add to society is yours. Nobody is burning it, spending it, distributing it, unless they tax you directly and transparently. There will always be those people who get to something first. Why aren't you angry at the people who bought antiques and whiskey 20 years ago? What about gold, guns, diamonds? Anything can become a currency. It doesn't make sense to be angry at first-comers. Besides, we are still less than 1% penetration, with the recent dip, it fell to 0.5%. Everybody buying is a first-comer. A central entity favouring one group of people over another to the detriment of society is not the same as a decentralised untamperable system of money which allows people to keep the value of their labour and plan their future on the basis of what their contribution is. The difference between a HODLer and a Landlord is that nobody is fighting the HODLer's cause. They take the risk, and they reap the reward. The Landlord reaps the reward, and everybody else's finances are used to reduce their risk down to 0.
  4. adamLancs

    The Bubbly Bitcoin Thread -- Merged Threads

    I'm glad I'm not still 100% in. These drops hold nobody prisoner. This is that moment where everybody that was planning to buy on a 30-40% drop goes.... uhhhh.... wellllll...... actually......
  5. adamLancs

    The Bubbly Bitcoin Thread -- Merged Threads

    Welcome to crypto... breakfast is -30%, dinner is -60%, if you're lucky you'll get treated to supper too...
  6. adamLancs

    The Bubbly Bitcoin Thread -- Merged Threads

    So we're back to the "everybody wakes up with a spring in their step and 2% inflation" argument... Who decides that it's 2% though? We have central government deciding what the headline rate of inflation is. If it was accurate then fiat would generally keep it's value. It's not at all accurate. It's just lying to people. And even if it was reliable in this country (it's not), chances are it is abused in many others. The whole point of decentralized systems is you remove the points of trust because history has shown time and time again, that whilst they may work for a period of time, some bloody loaf comes along and messes it all up eventually. I find it ironic that all the Keynesians and statists flock to this topic to tell us all about the brilliant policies that underline successful economies the world over and all about the last decade of uninhibited economic growth that has made the future for the young so attractive, but are baffled when those very young start to abandon the system. You should really try talking to some of them about it. (They are busy buying crypto, so don't expect miracles.) Are these the same economists that predicted the financial crisis...? I feel sorry for the young that this is the best that is being offered to them. "Let's take housing out of the equation and see how everything has got cheaper..." Just no. It's like taking m out of F = ma. Housing is 50% of wages for many, if you put gas and electric, petrol in there you're left with the square root of f. all. Not living in the real world or disconnected from the bottom of the ladder. One or the other, you cannot talk about 2% inflation like it is a real thing and expect to be taken seriously. Real inflation explains the drop in standard of living, this 2% thing is a fairytale and Keynesian's wet dream. It's just not real. That the theft of earnings is through stealth inflation is lost on most people. They don't teach about these things in schools. The majority of the priced-out do not understand why they are priced out, only that they are. You can talk to 50 priced-out people, at least half of them will have given up hope of ever owning a property. It's probably a lot higher than that even. They are literally slaves. Many jobs are mind-destroying to boot. At least crypto offers hope. There is no hope in the system for many young. It's been drained out. These people have no spring in their step. You're not living in the real world Kosmin, 2% inflation is a joke.
  7. adamLancs

    The Bubbly Bitcoin Thread -- Merged Threads

    Nothing about Bitcoin has seemed plausible to anybody who didn't buy into it. I stand by my prediction. The last days of fiat will not be orderly.
  8. adamLancs

    The Bubbly Bitcoin Thread -- Merged Threads

    To be honest, it's not my job to convince you. I've moved on from that now. Once upon a time I was asking businesses if they wanted a website. "Nope, why would I need that? People walk into my shop. They buy X. I sell them X. They walk out." Now they're saying this: "Nope, why would I need to accept Bitcoin? People logon to my website, they buy X, I sell them X. They log off." Which is essentially your argument. It's just a dead end for me. It's like talking to a wall. I can't be bothered.
  9. adamLancs

    The Bubbly Bitcoin Thread -- Merged Threads

    My best guess, about 1/10th
  10. adamLancs

    The Bubbly Bitcoin Thread -- Merged Threads

    This has been everything to do with fiat all along. Fiat doesn't hold up in the modern age. It's not just the value it's the mechanics. If I can transfer fiat to the US, get in a taxi and take a 30 min trip to the airport, board after 1hr at the airport, travel 8 hours to the US and get to my grandma after 10 hours journey time, and still, that digital transfer of 0's and 1's with a different set of 0's and 1's that takes 1 billionth of a second hasn't happened, there's something very wrong with that. It's just one example of an archaic system of transferring value that doesn't belong in the technology age. Value-wise, you can put all the fiat you want in tangible assets, but when the whole charade is based on an accumulation of debt, it is no different a subject to the greater fool theory than any other ponzi scheme. Bitcoin would cause the markets to rebalance. I can't see any other way. There is no control over the supply, so no additional Bitcoins can be created to fund the ponzi scheme. Every market will be forced to rebalance. Unless you think house prices and S&S are the direct result of productive economies worldwide, a global adjustment is to be expected. It's a lot cliche, but the saying "When the tide goes out, you will see who has been swimming naked" applies to fiat too. As we move to crypto, every fiat ponzi is going to unravel in succession. It's not just the Madoff's of the world that know how to create a ponzi scheme. Re: employers. There's no real incentive to ask an employer to pay in Bitcoins, because it's just as easy to jump onto Coinbase and buy them directly without giving your employer breadcrumbs into your financial affairs. There is nothing to stop an employer using Bitpay or similar to accommodate that though. In all honesty, I hope the crypto market cools down for a while. It's scaring a few people. A period of learning and understanding will be helpful for the next leg up.
  11. adamLancs

    The Bubbly Bitcoin Thread -- Merged Threads

    Nail on the head, I've said all along the current system is about keeping people in their place. Keeping people "at bay", especially the young. As they begin to wise up that their labour is actually much more valuable than the current system recognises and rewards, fiat is doomed. The fiat system does not reward these people if they try to break out from their cage. It entices them back into it and they live hand-to-mouth forever. Once you've had a taste of something better there is no going back, fiat is always going to pale in comparison. Banning it just makes it even more attractive.
  12. adamLancs

    The Bubbly Bitcoin Thread -- Merged Threads

    There won't be one. The inflation is already in the system. It's already happened. Masses of fiat sat in accounts doing nothing, asset bubbles everywhere. Rich-poor divide is accelerating. Property overheated in all major cities. Now S&S are off to the races. This is going down just like in history. Every government's solution to internal problems is to print. Look at what's happening. Only chance you've got as a poor bloke is in crypto. And it kind of sucks to say that 'cause a lot don't want to buy in at this level, approaching $1 trillion which is a lot for most people to fathom. World S&S are $80 trln, derivatives $100 trln+. At what price do people buy in at when fiat is devaluing so quickly. There is no way on Earth you can have asset bubbles everywhere, stay put in a fiat currency with infinite supply and not be rogered completely. £1 sat in a savings acct will be worthless in 10 years IMO (clue is the last 10 years). If you have it, spend it on SOMETHING imo, even if you don't buy crypto. Gold, antiques, wine, whiskey, collectibles etc In 50 years time people will look back at this period and draw almost a perfect parallel between the unleashing of the central banks in 2009, the rise of crypto and the subsequent collapse of fiat currency. It will look harmonious.
  13. adamLancs

    The Bubbly Bitcoin Thread -- Merged Threads

    I'm not writing off Ripple. Plenty of people don't care about or understand the concept sound money. I think to assume that everybody is going to say "crypto - oh yes! sound money better than Ripple" is a little bit idealist. More likely, they are going to see any market that is moving up as an opportunity to avoid the markets moving down (USD, GBP, EUR, YEN etc). It is a flight to safety happening as we speak. Even Ripple looks like gold to somebody holding fiat. There is a lot of money riding on breaking Ripple so if it's as weak as predicted, it will get broken sooner or later. Fiat is broken already. Everything looks good compared to fiat. It is hard to know where the herd will run to when they are escaping the fire. Bankers, traders, etc do not have much underlying philosophy. Crypto is just another graph to them. Opportunities to pump&dump everywhere.
  14. adamLancs

    The Bubbly Bitcoin Thread -- Merged Threads

    I think it's healthy if the price comes down. A lot of people have missed-the-boat syndrome right now but on learning about crypto are genuinely interested like yourself. Just because I believe in Bitcoin doesn't mean I worship it. It's important I can go to bed and know that the money is there in the morning. Bitcoin is the only crypto I have this sense of security with.The proof-of-work blockchain is the game-changer, the rest as someone here said "are riding on it's coattails". That's not to say some won't develop into useful products or have their own set of believers as clearly they do. The main issue is fiat devaluation and compared to even the worst of cryptocurrencies, fiat has all the flaws and few of the benefits, the main one being it is already entrenched and most 40+ yr olds have closed their mind to anything else as they lived their life by it. We're not just looking at one "biggest bubble in the history of the world" we're looking at 500 of them. All happening simultaneously and without 99% of the population. If this doesn't raise flags with people that something is seriously wrong with fiat, then nothing will. They will cling on to their 1% ISA like a dog with a bone.
  15. adamLancs

    The Bubbly Bitcoin Thread -- Merged Threads

    Yep that news is a net positive for Bitcoin. Although China are making themselves a no-man's land for future technology companies, many of whom will be left behind vs. the competition if they do not adopt blockchain and decentralised technology in the next 5 years.
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