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comment by veen
veen  ·  2955 days ago  ·  link  ·    ·  parent  ·  post: Ask Hubski: What *should* you be doing today?

Homestead is ready to go live, hence the hype right now. Kraken is crackin' under the load though.





kleinbl00  ·  2955 days ago  ·  link  ·  

I hypothesize that the runup in both ETH and BTC ('cuz they've both climbed) is due to the fact that the finance intelligentsia have started expressing legitimate concerns that the Fed might pursue Negative Interest Rate Policy (NIRP) within the year.

I saw a graph somewhere that pointed out something like a quarter of the world's currency is already under NIRP, with Japan and Germany leading the way. Bonds are in the shitter. Commodities are hammered. Oil is a losing proposition. The main advice being offered these days is "go to cash" or "go to gold" and when "go to cash" becomes a losing proposition rather than a gaining one, "go to gold" wins.

Cryptocurrencies have all the attractions of precious metals and the ability to be used as currency. BTC kicks the shit out of gold. And if you're hedging, ETH is a penny stock that jumped to six bucks while you weren't watching and holy shit you can buy a lot of it right now and if it does what BTC did, you're gonna be filthy fuckin' rich, who cares what interest rates the Fed charges for interbank?

That's my theory, anyway.

user-inactivated  ·  2954 days ago  ·  link  ·  

I'm buying land and walls.

veen  ·  2955 days ago  ·  link  ·  

There's also a lot of Greater Fool Theory going on here. For me, it's a student loan moonshot - I'll hopefully be able to use it to make a significant dent in my slowly accruing student loans.

Also, I find the /r/ethtrader daily discussion threads very entertaining. It's like a nerdy version of horoscopes.

kleinbl00  ·  2955 days ago  ·  link  ·  

The financial world makes a lot more sense when you realize that "technical analysis" means the same thing as "scrying entrails."

I told my wife that as soon as ETH hits $1k per I'm cashing out and buying a mansion. She laughed.

thenewgreen  ·  2954 days ago  ·  link  ·  

    I told my wife that as soon as ETH hits $1k per I'm cashing out and buying a mansion. She laughed.
It will happen.
user-inactivated  ·  2955 days ago  ·  link  ·  

I think I've mentioned before, my favorite statistics professor decorated his office in fortune telling memorabilia to remind people he consulted with not to trust him too much. I wish more technical people were like him. Those required communications classes drill into you that you need to work on establishing your credibility, when we usually have credibility be default and need to make sure no one is more certain of our work than we are ourselves.