Play Nice Random Chat Thread VI

[ferball]

Is this a new one or are they still doing it?

Yes... well...

AFAIK that's an old one but .... they all sound the same anyway. Not just the media outlets but the compilations themselves so i wouldn't know. I'm sure I've heard that "this is extremely dangerous to our democracy" line before tho.

 

[Tectonic]

how much investors believe in our economy.

Pretty much all currency. It's worth what the collective thinks it is worth, and what we are told it is worth.

 

[Tectonic]

Kinda funny, but like, a bowl of chips at a pub used to be $6 or so in 2010 right, and it's $11 now-
Or 2,000 Bitcoin in 2010 and.. umm .00013 btc now lol

 

[Val Keating]

Where do you reckon money came from?

The tooth fairy

 

[Val Keating]

Kinda funny, but like, a bowl of chips at a pub used to be $6 or so in 2010 right, and it's $11 now-
Or 2,000 Bitcoin in 2010 and.. umm .00013 btc now lol

Doesn’t the US government own a shit load of Bitcoin after knocking off Silk Road? That would keep confidence up. At the moment Elon Musk can tweet about a random coin just for lols and manipulate the market. It’s pretty wild.

Are there any other cryptos as reliable as Bitcoin?

 

[Ligma]

Kinda funny, but like, a bowl of chips at a pub used to be $6 or so in 2010 right, and it's $11 now-
Or 2,000 Bitcoin in 2010 and.. umm .00013 btc now lol

The bowl of chips at The Laurel was always a good treat after school when I was like 7

 

[Ligma]

Are there any other cryptos as reliable as Bitcoin?

Yes, shiba HEHEHHE

 

[Kangaroos techno]

Doesn’t the US government own a sh*t load of Bitcoin after knocking off Silk Road? That would keep confidence up. At the moment Elon Musk can tweet about a random coin just for lols and manipulate the market. It’s pretty wild.

Are there any other cryptos as reliable as Bitcoin?

Yes. Welcome to modern times, fossil.

There are plenty. Depends what you're after. Still early days for most. Bitcoin shot up again because it's seen as a hedge against inflation. Countries printing off money last year showed just how valuable something like BTC is. You can't print more but the US and others can devalue the dollar until their hearts content. Digital gold. It'll never be a currency. DeFi is still the next shot crypto has at breaking into mainstream.

If only more people listened to me when i was discussing it in 2017 right up until this year. SLF was one of the only people that understood and knew what was up.

 

[Tectonic]

Doesn’t the US government own a sh*t load of Bitcoin after knocking off Silk Road? That would keep confidence up. At the moment Elon Musk can tweet about a random coin just for lols and manipulate the market. It’s pretty wild.

Are there any other cryptos as reliable as Bitcoin?

Depends on the purpose I guess, and there's probably others who can answer this here better than me, GG(right on cue) and Usayed come to mind.
If bitcoin is digital gold, Ethereum is digital oil, it provides a lot of transactional power and fee generation, and a lot of other applications run on top of it. Litecoin is similar to Bitcoin in its purpose, Luna is backed by real world usage in Korea.. I wouldn't say any crypto is reliable per se, but only because it's all such a nascent technology and hasn't found it's footing yet.
It's a wild zone of creators, scammers and shills.

I feel like the US owning 70,000 Bitcoin is neither here nor there.. the creator's wallet holds 1million coins and has been inactive since inception. If that wallet ever did anything it would probably trigger a massive sell off.. but there is so much high value transaction daily that it probably wouldn't have a huge lasting effect if the usa dumped it's stock on the market

 

[ferball]

The tooth fairy

Have you seen this?

 

[Tectonic]

 

[Val Keating]

Yes. Welcome to modern times, fossil.

There are plenty. Depends what you're after. Still early days for most. Bitcoin shot up again because it's seen as a hedge against inflation. Countries printing off money last year showed just how valuable something like BTC is. You can't print more but the US and others can devalue the dollar until their hearts content. Digital gold. It'll never be a currency. DeFi is still the next shot crypto has at breaking into mainstream.

If only more people listened to me when i was discussing it in 2017 right up until this year. SLF was one of the only people that understood and knew what was up.

It’s funny because first of all I think you’re about my age, maybe a couple of years younger, it shows in your lack of wisdom.

And I remember you banging on about crypto back then and thinking, it’s already too late in the game to jump in. The crims were already using it and the government was catching up so the bubble will burst soon. If I had of jumped in then, now I’d be ****ed.

I don’t have enough liquid equity to ride out the troughs.

 

[Val Keating]

Have you seen this?

Honestly Ferbs if I read everything you wanted me to or watched every video I’d literally never speak to my family. It’s a half hour video.

 

[Ligma]

Honestly Ferbs if I read everything you wanted me to or watched every video I’d literally never speak to my family. It’s a half hour video.

STOP BEING SO FUNNY

 

[big_e]

Hey Jeff, how was your Halloween?

Jeff:

 

[andana]

It's supposedly an esa.

 

[Ligma]

would have been nice if they smoothed out the M80 LMFAO it’s worse than driving on gravel

 

[Val Keating]

STOP BEING SO FUNNY

I’ll probably watch it later tbh.

 

[DesertRoo]

Ouch…. World food programme chief asks for a couple of billion, Musks replies "Starving children 'as young as NINE forced to give UN officials oral sex to get food".

 

[see see]

Nice to be able to dine out again. Had a fantastic meal at Gaea last night.

It sure is. Went for lunch at Cicciolina followed by a couple of drinks at the Espy on Saturday and it was very enjoyable. What wasn't so great was the Uber surge pricing - it cost $51 to get there and then the usual $19 to get back home.

 

[Val Keating]

It sure is. Went for lunch at Cicciolina followed by a couple of drinks at the Espy on Saturday and it was very enjoyable. What wasn't so great was the Uber surge pricing - it cost $51 to get there and then the usual $19 to get back home.

The Espy has lost its soul but it’s still a cool place

 

[Val Keating]

Ouch…. World food programme chief asks for a couple of billion, Musks replies "Starving children 'as young as NINE forced to give UN officials oral sex to get food".

It’s like a slide of hand by David Copperfirld

 

[koshari]

Apparently this is the answer.


Interest rate differentials
The biggest driver of changes in the AUD's value is the interest rate differential. The interest rate differential is the relative benefit an investor receives from investing in one country’s assets over the other. For example, if interest rates in Australia are 1.50%, but are higher in the US at 2.40%, then an investor can get a great return by buying US assets. This has the effect of pushing down the value of the AUD, as investors sell AUDs and buy US dollars in order to invest in US assets.
Commodity prices
Historically, the AUD has largely followed the price of Australia’s key commodity exports, and the nation’s overall terms of trade, earning the currency the label of being a 'commodity currency'. The reasoning behind this is that in order to buy Australian exports, Australia’s trading partners need to also buy AUDs, and sell their local currency, to execute the transaction. The dynamic can be witness most pertinently in the price of iron ore, which owing to the ebbs and flows in Chinese demand for the mineral, has underpinned the AUD's strength and weakness for several decades.

Purchasing power parity
The principle of purchasing power parity suggests that an exchange rate is at equilibrium when it reflects the difference in price between a basket of goods in two separate economies. Although an imperfect model for examining the 'fair' value of a currency, the model suggests that due to price arbitrage, a currency pair ought to err towards its purchasing power parity. For the AUD, and using the famous Big Mac Index as the benchmark, the AUD is overvalued against the US dollar, suggesting that the AUD/USD ought to depreciate over time as relative price difference erode.
Government credit ratings
The Australian government’s credit rating can have a marginal impact on the AUD. That’s because Australia’s credit rating impacts the risk profile of its debt, which directly influences the cost the government has to pay on the debt it owes. A bad credit rating makes buying a country’s debt riskier and less attractive, reducing the overall demand for its currency. Although not a problem in recent history, with the Australian government maintaining a AAA credit rating for over 15 years, events that have threatened this status has brought about short-term weakness in the AUD in the past.
Sentiment and speculation
The AUD is arguably the most popular growth and risk proxy in global financial markets. It is often used as a barometer, and trading device, to benefit from short-term changes in sentiment towards global economic growth, and market risk. Some of this is tied back to the fundamental fact that being a 'commodity currency', the Australian economy is highly exposed to changes to global economic activity. Hence, when there is a prevailing good mood in the market, the AUD will quite often climb, while if there is a prevailing pessimism, the AUD will often fall.

Now try to explain stagflation.

 

[Val Keating]

Now try to explain stagflation.

FMD mate, I just learned about hyperinflation today. One thing at a time.

 

[ferball]

Honestly Ferbs if I read everything you wanted me to or watched every video I’d literally never speak to my family. It’s a half hour video.

You won't want to read the first book he wrote then.

That is David Graeber, who was an anthropology professor at LSE ,studying economic anthropology specifically, talking about the origin of money and debt. Well debt and money (in that order) cos debt obviously came first.