There are cryptocurrencies which are equal to gold (paxg)
Those and some good stablecoin like USDC are all that I trust.
I literally have all my money that I ever got somehow from people with whom I worked/coded as a teen but couldn't get a bank account.
https://justforhn.mataroa.blog/blog/most-crypto-is-doomed-to...
TLDR: I repeatedly mention that crypto doesn't make sense but the tech behind it could enable things like stablecoins but they won't make anyone 100x money but that is the point of them and I love them for it
Here is the last paragraph which I wrote which might be apt right now
> The tech is cool, but it is doomed to fall and if it doesn't, then I am fine too, I don't care. I am happy with my index funds and gold and even basic stablecoins. I am content. I don't want 100x returns.
Also fun fact: This article That I wrote repeatedly urged stripe to create a stable cryptocurrency themselves and few months after this article stripe released a collaborated stable cryptocurrency or something which was super nice to me as that's what I wanted. Not sure what the progress is on it but I saw it on HN and it looked super dope and exactly what I wanted if they integrate it into stripe nicely.
Edit: https://tempo.xyz/ is what I was talking about
Answer: no regulations on stablecoins. And we all know how unregulated markets never ever lead to problems.
I think that even in the article I had wrote that 99% don't need stablecoins as well but for people for whom USD or gold access could be hard, I can maybe see some usecase but then again as I said 99% don't need it but for the 1% like me who did, that's all there is to worry about. Maybe monero can have some usecase too since people use it as an actual currency but even then I would only buy monero in low quantity and still keep most money in stablecoins or most preferably banks as you said.
If they're going to liquidate anything because they need the cash, it will be US treasuries first, since they're the easiest to sell in the largest amount of size.
They are both in frenzy right now.
There is literal blood on the street 25% drops lol https://coinmarketcap.com/
I have written my thoughts/article like 3-4 months about it and I also sometimes like to talk to crypto traders about it just to have some fun talking to them and trying to convince them that what they do sort of is irrational imo and seeing their responses (I mean no shade on anybody if someone's into it, I just hope that you all have safety nets please, please invest into international index funds maybe excluding US right now given its in a state of bubble-ish but please I have nothing against US)
I wanted to be a investor but I found out that sure there are people who can do this, 99% people don't need it and index funds are good enough, even for myself. I read intelligent investor just barely but I read john bogle's book (bought it) and 20 most important things something book from my school library and both of them share on how its not guaranteed and how imo index funds can be the best option for genuinely everybody
So reading that, I actually kinda shifted away from that to some other finance but then I found out that I was gonna be a beauracratic slave or take some cuts saving some rich guy some money from taxes which I think is cool but I found linux cooler :)
People are jumping off of buildings?
You keep using that word. I don’t think it means what you think it means.
c22•3mo ago
jjangkke•3mo ago
What concerns me is China can absolutely trigger a market meltdown in equities as well especially pull the rug out from entire companies with a flip of a button ex) SVB
The timing of Xi Jinping's stroke 11 days before the 4th Plenum where a new leader is supposed to be announced, massive build up of military assets around Taiwan recently is not a coincidence
My money says China is getting ready to take Taiwan but not in the way many in the West envision in their WW2 fantasy.
I sold all my stocks. We are going to see assets across the whole sector correct even gold.
Also we might be seeing the start of the end of CCP.
bfg_9k•3mo ago
Agreed - if they wanted.
> as well especially pull the rug out from entire companies with a flip of a button ex) SVB
They didn't cause the collapse of SVB, SVB collapsed because of rising inflation and piss poor asset liability matching.
> My money says China is getting ready to take Taiwan but not in the way many in the West envision in their WW2 fantasy.
How do you think? I'm curious
> Also we might be seeing the start of the end of CCP.
Don't know if I agree with this but I am curious as to why you think it
conception•3mo ago
nradov•3mo ago
conception•3mo ago
nradov•3mo ago
https://www.federalreserve.gov/publications/files/svb-review...
Lordarminius•3mo ago
deaux•3mo ago
fnicfnac•3mo ago
What would gold correct relative to? I can't really comprehend why something like a national currency would maintain its purchasing value as well as any physical asset in the dissolving contracts kind of scenario you describe.
I will agree that other nations will begin taking what they want instead of just keeping these things as alternatives. It is of course surprising that China's response to America first wasn't to put America's interests first.