Good and bad news: the crypto currency market is crashing

[StrayKAT]

hey wait, wasnt the USD dropping? these past few months the CAD was rising a lot compared to USD, but i forgot what EUR/USD was like

if bitcoin's value hypothetically stays the same, but the USD value goes down relative to EUR/GBP/etc, then wouldnt measuring the value of bitcoin in USD result in a lower number?

The dollar is dropping on purpose, partly because of Trump and new export policies.

 

[R-T-B]

The dollar is dropping on purpose, partly because of Trump and new export policies.

Which makes it kind of interesting trying to gauge a cryptocurrencies true stability, to say the least.

Truth be told, all big currencies are a bit of a rollercoaster as of late.

 

[trog100]

currencies get measured against a basket of other currencies.. over the last year the dollar has gone down 10% or so against this basket..

but its almost impossible to arrive at a true measure of "value" when everything in the basket is on the way down..

trog

 

[jboydgolfer]

The market will soon be flooded with cheap GPUs.

*Cheap overworked* gpu's, that are no longer earning their previous owners $(if the op is accurate), this is where buyers actually have control on the cost of an item, dont pay what they ask! And if they wont sell, wait it out, if everyone followed this method, non-miners could take "their piece" out of the market as well

 

[StrayKAT]

currencies get measured against a basket of other currencies.. over the last year the dollar has gone down 10% or so against this basket..

but its almost impossible to arrive at a true measure of "value" when everything in the basket is on the way down..

trog

Well, the Chinese have been manipulating their currency for years. They reflect nothing and live in a vacuum. You can't measure anything accurately with a country full of thieves.

edit: Just in the off chance that sounds "racist" or something, I'm an Asian American.

 

[R0H1T]

Well, the Chinese have been manipulating their currency for years. They reflect nothing and live in a vacuum.

They have $4 trillion dollars worth of currency reserves to show for it, that's trillion with a capital T
edit ~ almost had 4T, they have slightly less than 3T atm
They're now buying a tonne of foreign assets with that money.

 

[StrayKAT]

They have $4 trillion dollars worth of currency reserves to show for it, that's trillion with a capital T
Almost 4T, they have slightly less than 3T atm
They're now buying a tonne of foreign assets with that money.

Fair point. Take out the vacuum bit.

 

[R0H1T]

Fair point. Take out the vacuum bit.

The point I was trying to make is that playing the currency game has worked for them, maybe other nations can try that & prop up their economy in the short term.
It could work if they have some (local) industries that can compete globally.

 

[StrayKAT]

The point I was trying to make is that playing the currency game has worked for them, maybe other nations can try that & prop up their economy in the short term.
It could work if they have some (local) industries that can compete globally.

Yeah, that's a big if. They have the exports to make the world go around.

The US is the only chance to curb them, and even that may not do much.

 

[trog100]

*Cheap overworked* gpu's, that are no longer earning their previous owners $(if the op is accurate), this is where buyers actually have control on the cost of an item, dont pay what they ask! And if they wont sell, wait it out, if everyone followed this method, non-miners could take "their piece" out of the market as well

if or maybe when it becomes unprofitable to mine there will be a glut of graphics cards on the market both used and new.. prices will drop in both cases.. the glut of used ones will bring the price of new ones down..

as of now the the mining profit dosnt really justify the initial cost of hardware investment.. but the market has not crashed.. in fact its done the opposite.. its took a massive bashing from china and survived without too much price damage.. just a slight correction which would likely have happened anyways and is probably to the good..

trog

 

[trog100]

Yeah, that's a big if. They have the exports to make the world go around.

The US is the only chance to curb them, and even that may not do much.

the US has no chance.. starting a trade war with china will wreck the lot.. what scares me is i think they are daft enough to do just that..

plus we have the fact that "rocket man" aint gonna give up.. the US is incapable of diplomacy.. it dosnt even know what the word means.. he he

the US knows two things.. do as we say or you will get "regime changed" with a bayonet up your bum.. which ironically enough is why "rocket man" aint gonna give up..

the US now has two choices.. accept the fact that we have a new country in the "nuclear club" or start WW111..

hopefully they will not be insane enough to go for the second option.. but you never know..

trog

 

[StrayKAT]

the US has no chance.. starting a trade war with china will wreck the lot.. what scares me is i think they are daft enough to do just that..

plus we have the fact that "rocket man" aint gonna give up.. the US is incapable of diplomacy.. it dosnt even know what the word means.. he he

the US knows two things.. do as we say or you will get "regime changed" with a bayonet up your bum.. which ironically enough is why "rocket man" aint gonna give up..

the US now has two choices.. accept the fact that we have a new country in the "nuclear club" or start WW111..

hopefully they will not be insane enough to go for the second option.. but you never know..

trog

Of course they know what it means. The fact that North Korea even exists, untouched and in the same state for 50 years, tells me the US is not as destructive as you think. That the US gave them billions in aid tells me they've tried diplomacy.

How people turn that on the US is beyond me. They might as well confess to raping little boys while they're at it. Make them guilty of completely random things. It doesn't matter.

There's no point in accepting NK as part of the "nuclear club" when he wields it first as a possible weapon. Not even Stalin was that dumb. Nukes are more of a weapon for peace than they are not. NK missed that memo.