English wasn't my dad's first language. It wasn't his second or third either - but he spoke it better than most natives. However, very occasionally he would say things that while correct, didn't sound right. For example, when someone would offer him a cup of coffee in the afternoon, he would politely refuse and say "No thank you, it stimulates me too much and I won't sleep".
No child wants to hear what stimulates their father. Regardless of context.
"Do I make you stimulated baby, do I?"
Moving on.
The US government is handing out $1400 checks at the moment, in an attempt to stimulate the economy keep people happy and stop them from revolting against the destruction of the economy and their lifestyles. The surveys are saying, that a lot of the recipients who are looking to invest it, are pretty keen to get in on Bitcoin with it, with a potential 40 billion heading into the Bitcoin market. That sounds like a lot, but is only 4% of the total market cap, but since the cap depends on available Bitcoin on the market and the price at which holders are willing to sell, it is significant.
Is that what we are seeing?
Or is it this?
That was published six hours ago, the precise time the market started to move upward. Of course, it could be coincidence, as whenever there is a move, we tend to look for reasons for it, and we are always able to fit a narrative to the story to confirm it.
This is actually interesting though as in typical bankster fashion:
Morgan Stanley is only allowing its wealthier clients access to the volatile asset: The bank considers it suitable for people with “an aggressive risk tolerance” who have at least $2 million in assets held by the firm. Investment firms need at least $5 million at the bank to qualify for the new stakes.
On the face of it, this seems like they are keeping an eye out to make sure that the "little investors" don't lose their shirt, but I don't think anyone in crypto currently believes that narrative. This is about early mover advantage - well, relatively early mover advantage. There is actually no good reason to keep people out of a volatile asset completely, though they might limit their potential to "expose themselves" by limiting the percentage they can invest.
Of course, nothing stops people investing into Bitcoin without the banks, but this isn't straight into Bitcoin.
The investment bank told its financial advisors Wednesday in an internal memo that it is launching access to three funds that enable ownership of bitcoin
"Enable ownership"
What does that even mean? Ah right - not your keys, not your crypto.
At some point - people will learn.
However, what I see this really as is a way to offer larger gains to those who produce the largest gains for the company to keep them loyal. It is letting some through the gate to the camping site early so that they can stake the best land as their own, pitch a tent and wait for the crowds. Morgan Stanley will then not only offer the plebs a chance to invest on top of the large investors, they will also use their managed funds to put the small investors into Bitcoin on top of the large also, driving the price and the ROI up.
A lot of us have been conditioned into believing that we are not able to manage our own wealth, that we shouldn't make our own decisions in regards to investments, that we need someone smarter than us to do what we were going to do anyway. There is also the ""authority" side of it, where many of us feel that we have made a good decision, because smart people we think know more than us, have made the same decision ahead of us.
A lot of smart people have said that I am crazy for buying or holding crypto. A lot of smart people told me to sell when Bitcoin hit 6,000, 12,000 and 20,000. A lot of smart people are curiously silent. They will get noisy again, when Bitcoin crashes 50% - though they won't reference the price it floors at, as that will be 5x up on where they told me to sell.
But, people are starting to wake up to the game they have been conditioned not to enter without holding the hand of someone experienced who will give guidance, but no guarantees, for a fee. People are making their first forays into self-initialized, direct investment. They are signing up at an exchange, connecting their bank account and moving money over into an economy that they don't really understand - much like all of those grey-haired investors who buy stocks in tech startups for products they will never come close to understanding, let alone using. Pretty much all of the largest and most well-known apps in the world are owned by groups of investment companies, using their managed funds.
This works out well for them as they are able to "predict" what companies are going to be successful, because they own all of the channels required to make them successful. The deck is stacked.
With corporations like Tesla, funds like BlackRock and banks like Morgan Stanley making moves, it is pretty much "guaranteed" that there will be success for some time to come, as they are not going to invest into what they think is going to lose them money. Banks make money from skimming fees from the gains on other people's capital as well as their own investments and they do not want to lose on either side of that coin. So they don't leave it up to a toss.
There is a difference in crypto and opportunity for those willing to give up their conditioning and instead of waiting until they are "allowed" to invest through the institutional gateways, take the risk and get in early. As retail investors can get into the investment vehicles without hand-holding and while this is "risky" for those with no self-control, it is lucrative for those who are willing to take a little risk and go in at the same time as the large investors. For the real risk-takers though, they went in beforehand, "knowing" it was only a matter of time.
Even with all the hype, even with people looking to spend their stimulus checks on crypto, even with the banks opening gateways - the industry is still nowhere near mainstream and definitely not saturated as an investment. The market cap of Bitcoin is 1.05 trillion dollars, the entire industry less than 1.8 trillion. It is nothing.
The amount of wealth that has the potential to take a position in the growing crypto economy is magnitudes larger than what we have seen so far and the hype is only the start. But I think that hype will die down relatively fast in the next few years, as it becomes just another investment in the mind of many people, even though the value will keep climbing for decades.
Eventually, new all time highs no longer get announced and the crashes start to lessen to the point that it is just another day on the markets. People will get bored of Bitcoin and crypto, but they will keep finding ways to use it in their daily lives. I hope that when that time comes, the distribution of holders for the most valuable and rewarding cryptos, will be the majority of people, not those who get preferred entry due to their level of wealth, so that they can cut the line.
I drink a lot of coffee, but unlike my father, it doesn't stimulate me and it doesn't keep me up at night. Being a small part of the largest change to global conditions the world has ever seen, does.
Investment isn't my first language. But I am learning.
Taraz
[ Gen1: Hive ]
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This is only the beginning!!!
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Seems that way - I am always "cautious" - most of my friends think I am crazy :D
Knowing what you know now, would you have bought more Hive at $0.14?
If yes then like me, think the same about any Hive under $1.
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Use caution there whippersnapper. Them's pretty close to fightin' words 😂
That's darn near the value of the 1.9 trillion airdrop that the US government just pushed out the door. Yes, airdrop. Printed almost entirely out of air.
It IS good to see Morgan Stanley get in the game, even though all the current products they are selling is funds of BTC that will have an entirely appropriate % raked off before even the early investors get theirs.
What if it's too easy? What if the 'managed BTC funds' return a good enough level that nobody ever considers going on their own? I think that would be pretty good for us privateers. Quarterly returns would almost always be up even though trading would be limited to a fairly narrow price band...
It's a brave new world that is coming.
I am greying up fast :)
Back at the start of 2018, an "investment company" called me and offered some services. I said no thanks, I am in crypto. To which they replied, "ah, in that case we have a riskier option that you mmight be interested in, as we offer Bitcoin investment. In the last year, it has returned 20%!"
But Bitcoin went 2000% in that last year
Scammers everywhere, the biggest of all are those at the top of the pyramid.
Note: I added this reply to the wrong comment :D
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Food for thought.
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Something like 20% of the current supply is supposedly lost forever.
Aren't all the large wallets tracked? The blip in price of BTC the other day was a move made by a large wallet, but it ended up being an internal transfer. People sold thinking it was going to dump.
might be the CIA ;D
Fork.
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All the large wallets ARE NOT tracked. Every year or so there is a transaction from "a previously unknown wallet'. Once you make a transaction you are tracked...
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I would have assumed there is some algorithm searching all the transactions from the dawn of BC time and marking the wallets.
Like I said, maybe once a year or so, there will be a report of X number of BTC sold or transferred from a previously unknown wallet. Last one I remember was the sale of 300 :) I'll bet whoever did that wishes they hadn't. Or maybe it's just chump change in their portfolio...
only three hundred? That isn't even a slice of pizza! :D
Do you remember that there was a 51% crisis on BTC? Quite a few years ago a huge Chinese miner ended up with a theoretical 51% of the liquid BTC. There was a tense couple of days and the miner co op sold down to under 40%. I think they were as afraid of what might happen as anybody...
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You have an odd association with the word "stimulate". Or maybe I do XD
it's just a word but a lot of things that other people find brutally offensive and scream should be excised from existence Newspeak style are just words to me
Using stimulus packages on crypto hmm there's an idea.
I am greying up fast :)
Back at the start of 2018, an "investment company" called me and offered some services. I said no thanks, I am in crypto. To which they replied, "ah, in that case we have a riskier option that you mmight be interested in, as we offer Bitcoin investment. In the last year, it has returned 20%!"
But Bitcoin went 2000% in that last year
Scammers everywhere, the biggest of all are those at the top of the pyramid.
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Did I reply to the wrong comment? :D
A few people I know in Australia have been using theirs for crypto.
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Looks that way? XD
I was momentarily confused :)
Investment is not my first language. No English, neither :P :D
In a year of my BTC sensitization, I can definitely say that I am becoming a part of this global tectonic shift. I am glad that I am sensitized, aware and committed. The problem is I need to figure out how to stop buying the tops :) Glad it's BTC coz it does not matter I am buying those tops.
The trick to not buying the tops is, buy before the hype - sell on the hype.
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:) I agree but it is not that easy to do when you have not experienced the full cycle. I FOMO hard and panic easy. A typical user I guess. I am learning.
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If you wanna avoid engaging in FOMO and panicking during price drops, it may help to come up with a plan. Say you're planning to invest in a cryptocurrency for a year because you think it has a solid foundation to do well. You could buy some and then set a price of when you plan to sell. Allow some room for volatility (volatile assets tend to waver within a range, so pick a price outside that range; whatever you're comfortable with potentially losing), then sell if it ever reaches that price. Evaluate your plan occasionally to adjust your sell price if the asset increases in price. Basically, have an exit plan before you enter.
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Anybody who can speak multiple languages is like a tongue wizard.
I'm going to assume that some banks and cryptocurrency exchanges sadly try to throttle or limit how much money can be withdrawn per day.
Specifically, if a person buys Bitcoin via a bank or an exchange, they should probably then withdraw some or most of that out to wallets or other places mostly because like you said, if you don't got the keys then you don't really own the coins.
For example, I had some Bitcoin in Poloniex and Bittrex, around $500 worth of it, last time I checked was in 2018. Those are the two websites I remember, I don't think I had any in Binance. I bought a few other coins but emphasized on Bitcoin.
Now, in 2021, I've been trying to get back into those websites and I believe they suspended my accounts. I may check again. I've been trying to contact them. They disabled my accounts and I forget the excuses they gave.
I knew better, I knew something like this could possibly happen. Not to justify their actions, they shouldn't but they do do these kinds of shenanigans at times.
We can use traditional banks, money unions, exchanges, and websites because some of them may be good at and good for buying, selling, exchanging, converting, transition, wiring, trading, value, funds, tokens, coins, money, in general, they can help people with those types of needs.
But people shouldn't use traditional banks and exchanges as long-term storage, especially if you don't have possession of the passwords, the private keys, and more so the 12 random words, the passphrase, the seed.
I agree. My father spoke a handful of languages well, and another handful okay. It apparently skipped a generation.
I have some issues currently about where I should hold some of my holdings, as far too much is on exchanges.
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Nice.
The first stimulus check saw Bitcoin rise a few thousands, I'm betting this time it will be the same, if not much more. I've seen many Crypto Twitter dudes get stimulated a lot by seeing many people receive said check and use it fully to buy crypto. The more inflated the usd gets and the more the fiat printer goes Brr, the more bullish I am on Crypto in general, not only BTC.
Yep. Eventually the Bitcoin buyers will start looking at other opportunities, realizing that there are wider gains to be had, as the industry grows. It is going to be interesting to see what might happen if there is a significant amount of retail capital pouring in.
Well, look at it this way, I basically live on coffee and I am still my mad hatter self. No stimulation whatsoever.
Thankfully I am still my dumb-ass self and got into crypto in 2015. Not big mind you, as my first venture was in another space and when they shut down I walked with a profit of a few dollars for the charity. Cooled off for awhile and then got stuck into that other channel (Hive's predecessor) and subsequently now in Hive.
What I learned from all of the FUD stories over here, is that there are opportunities for ordinary people to bypass the banks and to do things by themselves, thereby skipping the middlemen to buy directly from the source. Else there would be no FUD.
Of course the tax man and the government are licking their lips watching crypto grow and they will do all in their power to get a cut. To the detriment of hard workers like me.