It looks like the book "Extraordinary Popular Delusions and the Madness of Crowds" could be updated with several chapters on crypto, NFTs and other insane concepts in today's financial markets!
BTW, I have a "magic beans NFT" for sale. Only $2 million dollars. Once owned by a fellow named Jack.
A method to make a copyable digital object truly unique is the value behind the NFT tech. The need for NFT is essential and is much better than typical copyright technology for the digital realm. As the fluff burns away, this tech will be with us for a long time. If the digital art had actually been real art created by someone with true talent (maybe that has been done already somewhere) then the current NFT digital art crash might not have happened. A new piece of art created with the artistic skill equivalent of DaβVinci as a digital work, secured as unique by NFT tech, IS actually a valuable item. But an ugly cartoon monkey pumped up by mania isnβt. Though, I guess if you were freezing to death the Mona Lisa might become fuel for the fire that keeps you alive. Value is all relative to need in the end.
In 1931 Bonds plummeted like kamikaze. Stocks got smoked like rum. Nowhere to run. Real Estate pie high like turkey clobber riding the crest on a fictional woody board.
2023, crypto headed to $12,500 after βtheyβ push the reset button, before 12/14? Hahaha, what a beauty! Layoffs galore, must work in unison so nobody takes the blame alone.
Solution, work lots and lots of overtime, and do not look at your portfolio or HSA account if you have one, you will get spooked! π
I know You here on Bonner Private reseach have talked about what is going to happen in Europe and how they will be freezing Ect. The fact is on this last Saturday, 12-3-2022, the E. U.'s natural gas storage is 91.3% full and growing. The E.U.'s target had been 80%. They have had no issue buying natural gass to fill it's storage.
Bill, what you probably donβt understand is the people who studied the blockchain and researched the industry and invested in legitimate crypto like Bitcoin are up by still today hundreds of percent.
For what it is worth, this is the 90 year cycle of the 1929-32 decline. Elliott Wave Theory says this decline has to go below the low of 2009 which was 6400 on the Dow. I think it will be slow and take time. And there will be some sharp rallies in the process. If that happens we are looking at a 80% decline from 36,000.
It looks like the book "Extraordinary Popular Delusions and the Madness of Crowds" could be updated with several chapters on crypto, NFTs and other insane concepts in today's financial markets!
BTW, I have a "magic beans NFT" for sale. Only $2 million dollars. Once owned by a fellow named Jack.
A method to make a copyable digital object truly unique is the value behind the NFT tech. The need for NFT is essential and is much better than typical copyright technology for the digital realm. As the fluff burns away, this tech will be with us for a long time. If the digital art had actually been real art created by someone with true talent (maybe that has been done already somewhere) then the current NFT digital art crash might not have happened. A new piece of art created with the artistic skill equivalent of DaβVinci as a digital work, secured as unique by NFT tech, IS actually a valuable item. But an ugly cartoon monkey pumped up by mania isnβt. Though, I guess if you were freezing to death the Mona Lisa might become fuel for the fire that keeps you alive. Value is all relative to need in the end.
βSo goodbye yellow brick road
Where the dogs of society howl
You can't plant me in your penthouse
I'm going back to my ploughβ (John, 1973).
In 1931 Bonds plummeted like kamikaze. Stocks got smoked like rum. Nowhere to run. Real Estate pie high like turkey clobber riding the crest on a fictional woody board.
2023, crypto headed to $12,500 after βtheyβ push the reset button, before 12/14? Hahaha, what a beauty! Layoffs galore, must work in unison so nobody takes the blame alone.
Solution, work lots and lots of overtime, and do not look at your portfolio or HSA account if you have one, you will get spooked! π
Have a great day! π
I know You here on Bonner Private reseach have talked about what is going to happen in Europe and how they will be freezing Ect. The fact is on this last Saturday, 12-3-2022, the E. U.'s natural gas storage is 91.3% full and growing. The E.U.'s target had been 80%. They have had no issue buying natural gass to fill it's storage.
Bill, what you probably donβt understand is the people who studied the blockchain and researched the industry and invested in legitimate crypto like Bitcoin are up by still today hundreds of percent.
Thanks PGV. Great comments.
For what it is worth, this is the 90 year cycle of the 1929-32 decline. Elliott Wave Theory says this decline has to go below the low of 2009 which was 6400 on the Dow. I think it will be slow and take time. And there will be some sharp rallies in the process. If that happens we are looking at a 80% decline from 36,000.
So much more to happen if the FED actually significantly reduces its balance sheet.
Just got an advertising email from binance.us that 0% fees for trading ETH is now available. I guess the bubble will pop for a little longer.