Crypto lounge thread

Eusebius Erasmus

Ostrich
Orthodox
It's funny, when people talk about inflation they talk primarily about the price of goods, services and rent going up. It's strange how they never consider the people who own the companies that provide those goods and services, or the landlord charging that rent. If the price of everything is going up... obviously the people who own those assets are also making more money, because they are the ones setting those higher prices! Currencies always tend to inflate over time. This is why you want to own real assets. Think of inflation as a flood, and real assets as a boat. If you don't have a boat when the flood comes, you're probably going to drown. But if you do have one, you just ride that flood up to the new high water mark. Yes, there will be volatility, but real assets always hold their value over the long term. Why? Because the benefits they provide are intrinsic to the needs of human beings - goods, services, housing. There is always demand for these things, and thus they always have value.

There's a lot of extreme blackpilling about the economy and society in general, and frankly, most of it is completely useless. If society collapses then there is literally nothing to be done, basically everyone is going to die horribly and the few who do manage to survive will wish they hadn't. You are much better off making modest preparations in regards to "collapse" scenarios (i.e. owning weapons and knowing how to use them, having a network of friends, keeping a modest supply of food on hand at all times). Converting all your money to gold or Bitcoin and trying to live on a self sufficient farm in the middle of nowhere is probably overkill, and on the off chance you're right and society collapses all around you... you're still probably going to be dead within a few years yourself. I don't really see the point, especially as Christian. I make reasonable preparations as best I can, and I trust God with the rest. I make plans as an optimist, but I pray as if judgment is just around the corner. What else can we do? No man knows the future. And so I invest for the long term, because if the time is not long then it won't matter anyway. But if God has a farther ranging timeline than it currently seems, I'll be glad to have done so.

This depends on your input prices. Companies still have to spend on raw materials, labor, inventory, etc.

The Producer Price Index is up 8.5% over the year:

As for the rest, I agree with you 100%.
 

redbeard

Hummingbird
Catholic
Gold Member
It's funny, when people talk about inflation they talk primarily about the price of goods, services and rent going up. It's strange how they never consider the people who own the companies that provide those goods and services, or the landlord charging that rent. If the price of everything is going up... obviously the people who own those assets are also making more money, because they are the ones setting those higher prices! Currencies always tend to inflate over time. This is why you want to own real assets. Think of inflation as a flood, and real assets as a boat. If you don't have a boat when the flood comes, you're probably going to drown. But if you do have one, you just ride that flood up to the new high water mark. Yes, there will be volatility, but real assets always hold their value over the long term. Why? Because the benefits they provide are intrinsic to the needs of human beings - goods, services, housing. There is always demand for these things, and thus they always have value.

There's a lot of extreme blackpilling about the economy and society in general, and frankly, most of it is completely useless. If society collapses then there is literally nothing to be done, basically everyone is going to die horribly and the few who do manage to survive will wish they hadn't. You are much better off making modest preparations in regards to "collapse" scenarios (i.e. owning weapons and knowing how to use them, having a network of friends, keeping a modest supply of food on hand at all times). Converting all your money to gold or Bitcoin and trying to live on a self sufficient farm in the middle of nowhere is probably overkill, and on the off chance you're right and society collapses all around you... you're still probably going to be dead within a few years yourself. I don't really see the point, especially as Christian. I make reasonable preparations as best I can, and I trust God with the rest. I make plans as an optimist, but I pray as if judgment is just around the corner. What else can we do? No man knows the future. And so I invest for the long term, because if the time is not long then it won't matter anyway. But if God has a farther ranging timeline than it currently seems, I'll be glad to have done so.
I don't know what your position is on Bitcoin or why a previous post called for you and I to debate.

Regardless - I want to state that I wholeheartedly agree with your statement - "I make reasonable preparations as best I can" - and that it's become clear to me that converting a portion of your net worth into Bitcoin is at least a "reasonable preparation" and at best, a necessary lifeboat.

Your first paragraph mentions the need to own real assets, but neglects the number of years it now takes to afford a down payment on a house. You mention that currencies always inflate over time, but ignore that they do not happen concurrently, and that everyone who bought Bitcoin in Venezuela, Turkey, etc. can now feed their families because they did.

I could go on. My point is that all of this obsession about price and the gambling on alts is clearly not Christ-like. But managing your money well is a huge part of a husband's God-given responsibility, and Bitcoin definitely fits into that objective.
 

SlickyBoy

Hummingbird
If the price of everything is going up... obviously the people who own those assets are also making more money, because they are the ones setting those higher prices!
Isn't it also true the value of what they collect is going down, so that is why they have to charge more?

Inflation is a monetary printing problem, driven by bad policy. German land lords were taking in truck loads of currency in the 1920s, but by that point the value of what they collected was worth less by the time they drove it to the bank.
 

budoslavic

Eagle
Orthodox
Gold Member
tw-no.jpg


tw-fx.png
 

Thomas More

Crow
Protestant
"...crypto must be regulated..."

All part of the plan.


It is shocking how brazen the left is, in one thing after the next. In this case, they created FTX as a money laundering channel, then shameless used it to funnel foreign aid back to the Democratic party and key officials as graft, then crashed it when it suited them, and used it to call for even more regulation of all financial transactions.
 

Gimlet

Pelican
I am merely average in intelligence, and could clearly see the central bank digital currency play. The only surprise to me is that they didn't wait a week or so to pretend an investigation into FTX happened. But here we are, all our big banking overlords are already prepared with a pilot to save the day.


 
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