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Don’t believe everything you see on social media.
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Go buy groceries or gas with bitcoin & let us know how that worked for you.
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The block chain technology is intrinsically too slow for any cryptocurrency to ever replace credit cards or fiat currency, don't believe the hype from the pump and dump artists.
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Pennies is just a start. Barring some event, it will be slowly rolled out. While the average joe doesn't have clue.
What they really want is CBDC's, which some countries have already rolled out. As it's far easier to control a population with that.
Just keep an eye on the dollar, cause bitcoin goes the opposite direction every time.
This week Powell speaks in year Jackson Hole WY , it's an annual event. So the markets shouldn't do much this week.
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Hey everyone,
Little has changed overnight as Bitcoin sits at $115,000.
There’s signs a bounce up is on the cards possibly towards $117,400 but today will largely ride on what the US dollar does.
The US dollar looks on track to drop today which will naturally push up crypto as a whole. However, it wouldn’t surprise me to see the US dollar rise as the Wall Street boys try to get prices to move in their favour prior to tomorrow’s Federal Reserve meeting. If they do choose and manage to push the dollar up then the $112,000 target for Bitcoin I spoke about yesterday is on the cards.
These are, of course, short term manipulated moves and will almost certainly have little bearing long term, but I add my thoughts for completeness.
Go login and watch now. I explain all there.
Best,
James
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Also, buy Silver in Bullion form. Any coin store should have Silver Rounds and 10 oz. bars. Make sure they have .999 made into them.
I know, at nearly 38 an oz. sounds high, but you'll thank me some 10-20 years from now. Look at all it's uses in manufacturing and war products, even your phone you're holding right now. Once it's gone, it's gone.
Look up Dr. Dr. Kirk Elliot. yes, he has 2 degrees.
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Apologies for disagreeing… But I definitely don’t think that’s happening.
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Tech will eventually replace fiat but in the short term crypto is still too speculative to be a viable currency.
Can you imagine your $1 on Monday is worth $4 on Tuesday and 60cents on Wednesday
It is however a money machine, having invested over ten years ago I have no complaints.
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Pyramid scheme!
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Who do you mean by “we” and how many main currencies do you think we have now?
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While you’re at it, what do you mean by “main currency?”
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You can't even buy a Tesla car with Dogecoin. Why? Because meme-coin tech bro-in-chief Elon knows that it's a pump and dump scam.
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Meme coins is not where it's at. In fact don't even bother with those.
Larry Fink on Bitcoin and ETF's.
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Main Currency ? The US Dollar or the Petro dollar.
Brics nations want their own currency based on Gold and BRICS does not want to trade oil for US dollars anymore.
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What is your definition of “main currency?”
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By your statement this blog is about transitioning to the US dollar.
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You can come on hx to worry about currency, I prefer to worry about cute girls with cute little titties.
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Agreed! But you can use Bitcoin here too. LoL
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No.
Apparently you are living in a social media universe that is not reality.
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Not sure who are are replying too but in any case some of you might consider who is backing crypto these days. Let's see, corporations, businesses, banks, retirement funds, wall Street, multiple world governments,
oh and HX.
https://www.humaniplex.com/membership/
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but yea, back to something more fun. Enjoy. Cya.
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Nope, start another blog for that.
She asked for info. Some are definitely not up to speed and some realities are not focused on what is to come. Blackrock and the WEF etc.
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In finance, the greater fool theory suggests that one can sometimes make money through speculation on overvalued assets — items with a purchase price drastically exceeding the intrinsic value — if those assets can later be resold at an even higher price.
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An example of RSI, or Realitive Strength Index.
If the price is a lot higher than that, it's bowned to come down.
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LOL re crypto ever being a real currency.
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bitcoin currently has a market cap of 2.25 trillion US dollars. ether is currently more than US $500 billion
idk about you guys, but i could retire with that kind of money 
we may not be paying for groceries and gas with cryptocurrencies yet, but that day is coming. which cryptocurrencies it will be, and how exactly it will work, i have no idea. maybe stablecoins backed by the dollar. or currencies which haven't even been invented yet
but as to OP's original points, i think the US dollar will outlive all of us. perhaps digitally, rather than in paper or coin form. nevertheless, some of the younger folks here will live long enough to see it lose its primacy
so...
no, not transitioning to one currency
and yes, it is a good idea to own some crypto, like bitcoin, ether, sui or others (your guess is as good as mine). but choose from the serious contenders. not memecoins - they're known as 'shitcoins' for a reason. or own shares of promising companies working in the crypto space
just my free advice, which is worth what you're paying for it lol
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More food for thought from James;
Bitcoin currently sits at $113,800 and reached as low as $112,500 at one point.
This was, of course, thanks to the Wall Street institutions and hedge funds manipulating prices in anticipation for today's Federal Reserve meeting, exactly as we discussed in yesterday's email.
First thing to note is charts and technical analysis will never provide you the full picture to make wise investment decisions with. Im almost certain you know this as you've clearly done well in the past, but I say this because there is an increasing number of influencers who are trying to sell this idea.
There's good reason for this of course.
It helps to sell $1000 courses on how to be a world class investor drowning in cash if you tell them that investing can be reduced to reading charts and formulas. It sounds boring but people are ready to do it because of the life promised.
But it's a lie of the grandest proportion.
The reality is that becoming a very good investor requires study and investigation. A lot of study and investigation.
Furthermore, it requires you study areas which, on the surface, have nothing to do with investing. These include psychology, geopolitics, central banking and history to name a few. It is only then you begin to develop the ability to dot-connect these areas to gain the full picture.
Regarding yesterday, it's important to know how institutions and firms go about placing trades and their ability to move prices in the short term via the huge wealth at their disposal.
It would take far too long for me to even attempt to give an introduction on this via email. But studying the trades placed in the past during such times will quickly reveal a pattern.
Now, knowing the pattern is not enough. You need to know why the pattern plays out.
This requires real investigation and serious thought. Which institutions placed the trade? Why did they pick the times they did? Why didn't they bet more or less? What is the goal of each trade? What are they trying to do? What do they get from doing this?
Inquiring and looking into these questions will reveal the motives behind the price moves - which is the only trustable way to anticipate what will happen in another scenario.
Of course there is an element of guesswork involved, but not much. Remember, these firms are simple in their goal: to make maximum money without getting themselves into legal trouble. That's it. They exist for this. Which means it will never change. Your goal is to understand how they go about it and when they go about it, as that's what allows you to foresee it and use it in your favour.
Remember you can't copy what they do because you don't have the money to move prices like they do. But if you understand how they play, you simply align yourself with them and profit handsomely.
I wish I could stand here and tell you I have magical investing powers, but I don't. It's simply I've done the work.
Regarding the market today there's not much to discuss (I've gone over the little there is in todays video). Expect the usual short-term volatility leading into any Federal Reserve meeting.
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Whenever large institutions get into something like crypto it’s to give a veneer of legitimacy so suckers will buy and go long so the asset prices go up. What you don’t understand is that the large institutions use these suckers to pump up the value before they dump them while you are left holding your dick.
And if there ever becomes an index where you can trade the index…that’s simply a vehicle to put on a massive short. But it won’t ever be that obvious to the average joe who simply thinks the index means, again, legitimacy.
Sheep get slaughtered.
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Don’t confuse the fact that you can make money on crypto with it being a good investment. Two others made important points here.
1. One day the coin you paid $1 for is worth $2 and the next day it’s worth 80 cents. That kinda volatility makes it impossible to use as a currency.
2. Crypto trades on the bigger fool theory. I know I can foist it on someone who believes in it more than I do.
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You assume us "fools and sheep" don't know the game. Smart investing is taking advance of opportunities and knowing what game you are playing. You can sit there not leveraging the hottest market available, that's your call. Me, I'm taking educated risks and don't have any downside potential as I've already pulled my original investment.
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In the future we will be using digital currency and we also all get UBI (Universal Basic Income). Boomers usually get all mad when I mention that but it's gonna happen in probably 30 years all the boomers will be dead by then
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You’re amazing!
Most people struggle to predict what the next five years will bring but you know what will happen in thirty.
I don’t doubt that we are transitioning to digital currency— I just don’t think bitcoin is stable enough to be the one.
I never touch or see most of the dollars I spend. Even less for investments. I’m not sure how long paper money and coins will last, but iI think criminals will have a hard time when all money is digital.
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I probably should have mentioned how insane the amount of electricity wasted on bitcoin mining is. On top of that it’s designed to keep going up until the last of the bitcoins has been mined.
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IMHO bitcoin creates more problems than it solves.
Now I will say that blockchain technology appears to have a future beyond the dead end of bitcoin.
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100% everything is moving to blockchain.
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Crypto has two use cases: speculation and illegal transactions.
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vivay:
When you say,
"Many economists theorize that the dollar will be nonexistent soon."
Which economists are those? I googled it but couldn't find them. Just one or two of their names would be helpful.
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@coolNeasy
Crypto doesn’t trade on any fundamentals. It’s gambling. Which you mistake for investing because you haven’t lost your ass yet.
It’s like keeping an exotic cat as a pet and thinking because you haven’t been attacked by it yet that it truly loves you as an owner.
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Rug, plenty of fundamentals when one knows how to read the Bitcoin/Alt coin charts. An even Stocks, like Bitcoin are tied to the US Dollar.
Doc, which economists are those? You really think one is going to find that answer on Google ? Hell even Wikipedia lies. I couldn't tell you who either. Well, there is one or two I know of, one wants to sell you Silver, and I think he's correct in a lot of ways to buy into Silver bullion.
It's a long game to be set up now while you are still young to enjoy a comfortable retirement and not sitting on a street corner with a cardboard sign. Look at where Gold and Silver has come from since 2000 to today. 360oz to 3,300 / 5.50 to 38.00+ . Ask yourself, where will it be in the next 25-30 years. When you may need it the most.
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Hey rug, congrats on your reading skills. Hard to lose when I have no capital investment still in play. And you could try to Google long term investing. Do you think stocks or bonds aren't gambling or manipulated? Anyway, thanks, I'll take my zero risk and many thousands and let you to your opinions.
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The dollar isn't going anywhere any time soon.
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Not related to topic, but to my posts above. It seems too easy here for us all to bag on each other or get negative. Everyone is entitled to their opinions. I want to apologize for leaning into the negative myself here. I belong to other non-hobby forums where folks are just cool and kind and I'm going to keep myself inline with that and ignore the rest. Still fun reading. Cool out.
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Which economists?
I think we should all agree that the US Dollar has been, and for the time being is still the most widely used & traded currency in the world.
Cyber might one day replace currency, but not likely any time soon.
Forex - commonly refered as FX is the LARGEST market in the world.
Each DAY 7.5 TRILLION is traded. The US Dollar is half of that at something like $2.9 trillion a day
BUT the US Dollar makes up something like 90% of the trades.
So, Bitcoin traded each day - 0.008 and 0.2 A fraction of a percentage point - almost a rounding error.
Cyber might have it's place, like thousands of other things that make up the universe traded currencies (about 180).
To say cyber will soon replace the US Dollar is hogwash
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won't happen
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LOL @af. There are no fundamentals at all. It trades on who is the bigger fool.
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@remo is dead on.
Most of the crypto apologists are at best amateur day traders. They don’t even have a Bloomberg terminal and trade on apps on their phones. LMFAO.
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I know the reason that btc has gone up overall is due to, whoever is running it, cutting the supply of bitcoin. They are continuing to do that to affect the price. I think that btc is a good longterm investment. Not short for day trading. I just wish I would've invested a lot sooner. Any thoughts on good alt coins to flip on a short term investment? Also Trazor or Ledger? What's the point of spending all that money on an offline wallet quench you can create your own with less than $20 with 2 usbs?
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"Whats the point of buying an expensive wallet worth hundreds when you can create your own with less than twenty bucks?" Stupid typo up there. Didn't mean to type quench. Its my autocorrect.. i need to turn it off
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“I know the reason that btc has gone up overall is due to, whoever is running it, cutting the supply of bitcoin.”
I don’t think you know the first thing about bitcoin.
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No one knows shit about anything with regard to crypto.
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