Reddit Posts
NATIONAL DEBT EXPLODES BY 266 BILLION IN ONE MONTH, ROBINHOOD BUYS BACK SBFs STAKE FOR 600 MILLION.
Does The SEC Have a Case? The Hard Facts Behind The iX Global & DEBT Box...
SEC goes after "nodes" and files suit against company for selling "node licenses," Node License=Investment Contract
What its like currently holding ADA. Part 2.
What its like currently holding ADA part 2.
US DEBT EXPLODES as BRICS Calls to End Dollar Dominance! | Bitcoin News Today
SEC Freezes DEBT Box Assets Amid Allegations of $50M Fraud
SEC Accuses Crypto Mining Firm DEBT Box of Fraud; Freezes Assets - Crypto Economy
SEC freezes assets of DEBT Box, alleging $50M node license 'sham'
El Salvador appoint "Bitcoin Standard" author to be an economic adviser. Then man of the popular bitcoin book meet the man who adopt bitcoin countrywide.
[SERIOUS] It clicked: Banks don't store your money. They take it and are in debt to you. But most people in the world don't understand this
We are living in the future. Please read and let me know what you think.
U.S. debt is $31.5 Trillion.. Just DEBT.. Just the U.S.. When people wake up bitcoins market cap will exceed this number putting bitcoin above $1.5 million.
Please take care of the elephant in room nobody wants to talk about
US DEBT: It’ll come crashing down like the rest of our portfolios…right? Right?!
Mentions
2023-09-13 COIN-79.86 USD/SO 189.95 Million/ISO 237.18 Million/NO dividend/Total DEBT (mrq) 3.5$ Billion VET-USD-0.01619602 USD Start Date: 2017-08-22 usdollar... iam a piece of paper and i control your entire life E&OE/CYA
is he though with 40k CC DEBT
> Keep up the DCA AFTER PAYING OFF THE CREDIT CARD DEBT!!
That's pure BS. Crypto has no intrinsic value. What intrinsic value does fiat have? The ability of the government to print more money with a push of a button? The MASSIVE DEBT that increases each passing year, that most countries have? The technology is interesting in the sense it can help CBDCs. Crypto and BTC were developed to promote financial freedom from the governments and their control. Crypto is decentralized, based in an immutable PUBLIC ledger. CBDCs will be private ledger and I really doubt if it's even immutable. Central banks and governments want control, kill switches and compliance. Blockchain and cryptos want you to be free. P.S. Every time I hear a public official bashing crypto and praising CBDCs my Monero bag gets a little bit heavier
So I read through some of the sepa info. Under the heading Cashless Payment Insruments, it says credit transfers, and direct debit. Still 60+ year old tech. Under the heading Speed Of Processing it says ;no longer than one business day for electronic payment orders. Up to two days for paper based transfer orders. And this only applies in the euro zone. It makes sense for a group of banks to make things easier on themselves. But all they have done is pre approve the movement of DEBT. this has done nothing to speed up the SETTLEMENT of the debt. The REAL MONEY doesn’t move in seconds with sepa. It still takes days for the company who sent money for you, to receive that money back from your financial institution. With the xrp ledger, both the transfer AND the settlement happen in less than 5 seconds. Meaning both parties receive their payments and the transaction is complete in 5 seconds.
Have you ever thought of how long it takes for the actual manufacturer to get PAID from a credit card transaction? It’s NOT instant. YOU take on the DEBT immediately. But no, that money is not transferred at the same time. These corporations work on 30,60,90 day intervals. Visa is a Ripple partner and ODL user. 5 second settlement of transactions. The speed and efficiency of manufacturing will skyrocket because they will have the money to expand. It will not be stuck waiting to get to their accounts.
I feel tons of people will tell you DEBT first then invest. But for me, crypto made me debt free. Did I get lucky? Maybe with a few coins… but I was so massive in debt I was willing to just pay minimums and invest what I could. I didn’t want to do the bankruptcy route and I was used to being broke. I said fuck it! Hahah Side note… being debt free was a weight lifted but investing still keeps me up at night cuz I’m still making myself broke by investing. But I like it that way.
Fun fact ...all those youtube people making crazy gainz? Thst paper account their showing you... they make their living lying to you using basic TA info and then place massive trades and show you their account. All lies and deception but they do make crazy money off referrals... money made from your $100 deposit plus % off every trade you do even when you lose. The mega rich investors like warren buffett bought the right stock at the right time and held it. And bought more. Built up a big portfolio and then they BORROW using it as collateral. THE RICH LIVE OFF DEBT !! And im sure as shit stinks they still had to work while building their empire until the empire paid them.
2023-08-14 coindesk to cut staffing ahead of potential sell 2022-06-15 coinbase lays off around 1,100 employees 2023-08-24 COIN-73.66 USD/SO 186.88M/F 186.99M/NO dividend/Total DEBT (mrq) 3.5$Billion E&OE/CYA
I don't care what is going on. I don't care if they keep my money in segregated account or not. Segregated accounts aren't even more secure. It's completely delusional. If they have 100 shared accounts or 10000 separated accounts, what's the difference? NOTHING, either they have 100 private keys, or 10000 private keys. You deposit, you agree that they keep custody of your money until you withdraw. And Binance has kept that promise. They never withwold withdrawals unlike those fishier exchanges who are not under attack! And by the way, your average fucking bank on the street, lends out your fucking money! WHY AREN'T THEY UNDER ATTACK BY THE LAW? BECAUSE IT'S NOT CRYPTO AND NOT A THREAT TO THE CENTRAL BANKS WHO ARE THE MASTERS OF THE GOVERNMENTS BECAUSE THE GOVERNMENTS ARE IN DEBT WITH THEM! IT'S THE CENTRAL BANKS WHO COMMAND THE GOVERNMENT TO KILL THEIR THREAT, CRYPTO. AND THEY CAN'T KILL A CHAIN, THEY CAN ONLY KILL THE EXCHANGES!
losing money is not enough, some people just want to be in DEBT
So the DEBT box is now indebted? The SEC keeps poking their noses in crypto affairs...
2022-03-29 Silvergate Capital Issues $205 Million Loan to MacroStrategy Collateralized by Bitcoin. Loan proceeds to be used by MacroStrategy, a subsidiary of MicroStrategy, to acquire additional bitcoins. 2023-03-08 Silvergate Capital is shutting down operation, LIQUIDATING after crypto collapse WIPES OUT bank 2023-08-11 Silvergate - stock - SICP-0.2400 USD 52 Week Range: 0.0200 - 107.8900 USD/SO 31.66 Million/Total DEBT 4.32$ Billion E&OE/CYA
2021-06-15 MicroStrategy files to sell 1$ billion in shares...partly to buy more bitcoin The company also said it has completed its 500$ million bond sale for its bitcoin strategy 2023-08-11 MSTR-384.31 USD/SO 12.07 Million/NO dividend Total DEBT (mrq) 2.24$ Billion
tldr; The United States Securities and Exchange Commission (SEC) has accused DEBT Box, a crypto mining firm, of executing a $50 million fraudulent cryptocurrency scheme. The SEC has obtained a temporary asset freeze and other emergency relief against DEBT Box and its four principals, as well as 13 additional defendants. The defendants allegedly sold unregistered securities called "node licenses" and used deceptive tactics to convince investors that these licenses would generate crypto asset tokens through mining activities. The SEC's complaint also alleges that DEBT Box and its principals lied to investors about the revenues of the businesses driving the value of the tokens. This is another move in the SEC's ongoing war against digital assets, with the agency having filed over 130 crypto lawsuits this year. Despite the SEC's actions, there are individuals in the finance industry and lawmakers who oppose the regulator's aggressive stance on digital assets. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
I hope you know what you're doing. 1. A balance transfer doesn't let you pull out $20k on day one. You need to already have a DEBT from another credit card, then when you sign up to this new card, you TRANSFER the BALANCE/debt of the old card onto the new card, you can't simply ask for $20k and expect 0% for 18 months. 2. Even if 0% interest, you still need to make monthly repayments. You're not allowed to make a lump sum payment at the end in month 17, no idea where you got that idea from, otherwise be prepared to get ducked by late payments, fees, ~20% interest, a shitty credit score and a million phone calls and threats by the company. 3. Interest free days don't apply on regular purchases whilst you have a balance on the card. *(Points 1-3, depend on your country, but usually applies to most places). I have done something similar for Bitcoin, but it wasn't a balance transfer, it was a cash advance offer at 0% interest for 12 months for about 90% of my credit card limit. I made the monthly repayments every time, and at the end of the 12 months, I payed nothing more then what the amount I withdrew was.
The idea here is that the fiat financial system is a "scam" because the money supply can be arbitrarily expanded through government bond-buying and fractional/no reserve banking. This occurs because fiat currencies are not pegged to hard assets like gold which has a very steady supply rate that can not be manipulated. Credit expansion is literally financial value created out of thin air. When debt is issued, the supply of money expands and causes inflation in the economy (more money in system = more demand = less buying power). This is the difference between **REAL VALUE** and **FINANCIAL VALUE**. Real value is the production of goods and services in the economy. This is intrinsic value. Financial value is just a claim on intrinsic value. But the value of these claims can be inflated. In a fiat system, ALL MONEY IS DEBT. Meaning all money is essentially a promise to be paid back. There is no tie to hard assets. The US dollar is at the end of a long-term debt cycle. There is too much debt in the system and a lot of it was driven by covid-induced money printing and low interest rates (which incentivises debt creation). This is why we're seeing crazy inflation, a growing wealth gap, and political instability. I wouldn't even call it a ponzi because it's not like old investors are being paid with money from new investors. It's worse than a ponzi. It's like if the company just made up their own money and told people it was valuable. This is why crypto is valuable. The supply of bitcoin and other main blockchains are mathematically determined at a steady rate. It can't be manipulated by monetary policy and the ledger hasn't faulted once since its inception.
Does this graph reflect reflect interest payments ONLY made on the "US DEBT" $$##..? You know the counter in NewYork that's tracking our debt by the second (currently almost at $$32.5 Trillion$$). ??? Or, does it include interest on payments we are making on debt that is not reflected in that ticker..? I'm sure there's plenty of debt that is not reflected on the NewYork ticker/counter, right...?
Half the comments here got no idea how the debt ceiling works. THIS IS FOR OLD DEBT, The fuckers approved the budget and now they themselves are causing this crisis.
*Check back on next year's episode of DEBT ZEILING Z*
Whenever you put money into a bank, it's not your money any more It's a **DEBT** that the bank owes you And as we have seen recently, lots of banks can default or go under. And if the government doesn't bail them out, then your money is gone.
Look at me, I'm holding all USD and I'm facing the same problem You see I'm in Korea. No one here takes them. Yet all the money I have in the world is USD. Secondly, my bank doesn't have any branches here. I have no way to withdraw them. Basically USD is pointless & useless because the only way I'm actually able to buy anything just to survive or not be out on the street at night is by going through a complicated multi-step process: 1. I have special cards that automatically convert USD denominated DEBT into real money: KRW / korean won when scanned at a register. 2. Once I've accumulated a maximum amount of debt, I have to transfer the USD electronically to the accounts to "refill" it and allow me to spend more (in other words paying my credit card bill)
DO NOT BORROW MONEY OR USE DEBT to buy bitcoin… you are just using another form of leverage and it makes for weak paper hands.
Can’t believe people are recommending this guy go in DEBT for btc. 🤦🏼♂️ when btc hits 16k after the halving he’s gonna come crying.
It is a CasasciusCoin a physical FedCoin, if you peel off the sticker you can send DEBT to the burn address.
This is why ECONOMY BUILT ONLY ON DEBT CANNOT WORK. Long term it always fail, even if you play "too big to fail"/"unlimited debt" game.
Atlas while their debts increased, their real wages/salaries declined due to debasement on their fiat monetary debt units (AKA USD.) The USD is a token backed by DEBT and leveraged 100x with fractional reserve banking… its like playing with matches with gasoline at your feet, WHAT COULD POSSIBLY GO WRONG?!
> The balance you see in the online banking is not how much money YOU have, but how much money THEY are in DEBT to you. Not more, not less. This is exactly why when banks add money to your account it’s “crediting” but when they take money it’s “debiting”. Your money in the bank is a liability to them since they technically have to return it to you.
>The balance you see in the online banking is not how much money YOU have, but how much money THEY are in DEBT to you. True. >This means, that banks defaulting and you not getting all of your money back is **expected**. False. Banks don't *expect* to default. That's absurd.
☝️😆 The majority will never figure out the answer... Obviously, it's RAISE THE DEBT CEILING AND PRINT MORE MONEY!!!! Brrrrrrrrrrrrrrrrrrrrr Lol, at this point, I'm shocked anyone takes these clowns seriously. There is NO CEILING, Just an iceberg we hit years ago and those in power saying "stay calm, there will be plenty of life boats for everyone after we pack the silver/gold/valuables. Stay here until we say it's safe..."
I already said it… you can’t have debt, like ZERO DEBT and a payed off house so no mortgage or rent. It is very much possible to have such a high savings rate, depending on your tax bracket and income.
>I'm about to be debt free If you are holding FIAT currency you are holding DEBT. A debt that cannot be paid back. When you hold BTC, then you are debt free.
It’s much worst than that… it’s backed by DEBT then leveraged over 10x via fractional reserve banking…. If fiat was burning paper, then the fractional reserve banking system is gasoline!!! It’s unsustainable.
If you got payed in bitcoin since may 11th 2020 (last halving), you are up 25% even after the last “crypto winter.” SPY sp500 etf is 13% and GLD etf is 11%… so bitcoin did TWICE AS BETTER than the “established normal investments” but it’s a new monetary system and not an “investment.” Even after adjusting for inflation in something like the cost of rent etc, bitcoin did 12% increase and SPY sp500 etf did 0% increase (FLAT) and gold was slightly NEGATIVE… Owners equivalent rent increased 13% from 2020 to 2023… so if your money isn’t increasing in value by 13% then you are LOSING. Either that or you got a 13% pay raise. Getting payed in bitcoin did TWO TIMES BETTER THAN INFLATION (using owners equivalent rent as an example), and this was after the crypto scams and FTX and the “crypto winter.” I started my 401k in 2018 (vanguard growth VWUAX) and I it only increased by 10% for the last 5 years!!!! Bitcoin at the same time did 70% in the same period… so bitcoin did better than my 401k EVEN AFTER FACTORING THE 50% match! Who’s really gambling here? The bitcoin maximalists who is getting payed in bitcoin or the fiat maximalist who value’s a piece of paper that’s backed by DEBT and LEVERAGED TO THE MAX with fractional reserve bankings? #Getonzero fiat is far less risky if you have a payed off house and have zero debt of any type… I only think of my roth 401k as a thing to borrow from in case of a large emergency… my bitcoin IS THE VERY VERY VERY LAST THING I WOULD SELL. When the world realizes the properties of bitcoin, it will be far more risky to hold fiat long term compared to to today.
She is a perfect example of the fiat debt based system’s perverse insentive model… she is a product of the corruption of money… she says that “bitcoin is not backed by anything,” yet she supports the fiat which is BACKED BY CREDIT/DEBT via the factional reserve system… she is either to intellectually lazy to do proper research or she is deliberately trying mislead people.
Fiat is “backed” by DEBT CREATION/credit… so technically speaking, it’s less worth than zero until the debt is paid.
It’s worst than that… fiat money is BACKED BY DEBT!!! It’s a negative value, a liability.
nevermind the banks, what about their backer? the US government? [https://www.usdebtclock.org/](https://www.usdebtclock.org/) That rapidly increasing number, what do you think that is?? cash balance?? Not to overly simplify things, DEBT == Money I owe When you pay for debt, with more debt, if that was a person or company, you'd say they are insolvent...
Canada: STOLEN - dividends/UNSETTLED [unclaimedproperties.bankofcanada.ca](https://unclaimedproperties.bankofcanada.ca) their USELESS/WORTHLESS website is NOT working since 2010 ! BOC employees names? \[REFUSED to provide\] they-debtors told me that, they DO NOT KNOW what is A NOTICE OF REDEMPTION or DEBT Instrument? E&OE/CYA
It’s much easier to #getonzero fiat when you have ZERO DEBT and a payed off house… no mortgage, no rent, no car payments, no student loans etc. fiat emergency fund would need about 8-10% per year “restocking” expenses because that’s the rate it’s being debased at.
BAC-34.21 USD/SO 8 Billion/Dividend 0.88/Total DEBT (mrq) 562.15$ Billion E&OE/CYA
Do not tell her nor anyone. People can change, shift personalities, often Unintentionally / Unplanned / unforeseeable. Don't tell anyone. Need some cash? Go to Vegas. Withdraw minimal needed. " Honey! You will NEVER believe my luck this time! Wore those lucky socks you've been trying to get me to wear! " ... Next. Read up on finance and investments. Read both sides - customer processes and **Internal org processes** of financial institutions along with AUDITING financial institutions - "they" learn this mostly in University Banking or Auditing programs. Don't trust Investment Managers, Banks and similar, Accountants ( CPAs in particular). Still, small amounts at a time. Don't tell her. Get a contract/will. She and kids or family to receive leftover. Read on Estate Planning. Start a business. Always (in every business situation for *everyone*) always, always use debt in business when making purchases. Unless strategic reasons Always, Always carry substantial debt in the business as a part of the Financial Treasury "Mix". Continuously increase Assets. As you gain equity, using increased equity, buy more businesses or investments (both examples are Assets). ASSET = Income Producing (Y), where Y is the dynamics of the industries you choose. Only buy Assets. Use their cashflow for spending; use DEBT to buy ASSETS (if the interest rate - cost of capital- is lower than the IRR on the Positive Revenue producing assets. Make a list and compare using a financial calculator. This post seems to be applicable to anyone... But OP asked a good question. Other crypto magicians can help on that side.
The left needs to leave her behind. Idk about you but the biggest Warren supporters in my friend group are the biggest welfare suckers. She’s the epitome of every bad reputation liberals get—welfare by spending everyone elses money, buying votes. Notice how she never calks for student debt “reform” (IE practical solutions like capping interest rates on current loans), instead she is always WE’RE GOING TO CANCEL ALL STUDENT DEBT. She wants to make sure she gets the votes of every college grad whether they deserve/need a bailout or not
MicroStrategy Incorporated Has Raised $46.6M Through Share Sales Since September The company since September issued a prospectus for the sale of up to $500 million in common stock MSTR-294.05 USD/SO 9.59 Million/Last Split Date: 2002-07-31/No dividend Total DEBT (mrq) 2.45$ Billion 52 Week Range: 132.56 - 522.80 USD Book Value Per Share: ---(minus) 33.17 MicroStrategy Incorporated provides enterprise analytics software and services worldwide E&OE/CYA
It’s painful to sell bitcoin to repair a car…. The only people who really can go “all in” is if they have a solid financial foundation and have ZERO DEBT… they don’t owe anyone any money and have a payed off house etc… they also have stable income etc. If you have debt, maxing out credit cards etc to buy more bitcoin, you will feel WAY MORE PAIN in a crash.
Only $USA token holders will be airdropped the $DEBT token, don't miss out!!!
Actually a big part of my thesis is humans are degenerate gamblers and generally cannot decipher from value and momementum. They come, with desperation and leverage, and OVER-VALUE assets. They did this to the dot com in 2001, to housing in 2008, to housing in 2022, to crypto in 2017, to crypto in 2021, to stocks, etc. The difference in crypto is that this trend is SO FUCKING SMALL COMPARED TO DEBT MARKETS, STOCK MARKETS, TO REAL ESTATE, TO FINE ART, etc. Did I add we are going to lose most currencies in 20 years? Euro first I believe. I'm proud to be a crypto enthusiast because the vast majority of people I know are talking about real estate. Their parents are talking about bonds. It is better to live in a volatile future than in a slowly decaying past. Did I add? My typical colleague makes $150-200k a year and has less than .5 btc and 2-3 eth. MAX.
Same here, It feels like my wages increased by 60% becauseI I am able to pay myself now! I even did a detailed calculation using a “reverse gross income” calculator and what I found was that: DEBT FREE skilled laborer pockets more money than virtually EVERY working professional like veterinarians, research scientists, dentists, and most doctors other than a brain or plastic surgeon AFTER TAXES AND STUDENT LOANS, CAR LOANS, MORTGAGE etc For example DEBT FREE master Plumbers pocket MORE MONEY than a typical “normie” dentist or pediatrician running around with $300,000 student loans with a 10 year maturation date…. I haven’t even included the house or car loans… after all that, a “normie” debt slave dentist/pediatrician etc will EVENTUALLY CATCH UP to the debt free master plumber/electrician BUT IN THEIR LATER MIDDLE AGES and more than likely NEVER if the master tradesman has used extra money to invest in.
This is what I've been trying to tell everyone here: there is TOO MUCH DEBT IN CRYPTO. Too much debt will lead to a liquidity crunch. I can't tell you if it's the end. I have no clue. And as long as there are two people willing to trade it, it will fetch a certain price. But as of now, it is overpriced due to the debt propping it up. And as the defaults stack up, the price will fall.
Congratulations… I been there 2 years ago but since this was my 2nd bear market, I sold 3/4 of it at 40k to pay off my mortgage… now that I am TOTALLY DEBT FREE and no longer have to make mortgage/rent payments, it feels like I got a 60% raise and my bitcoin DCA went from 50-150/ week to 400-500/week…. No fear! I love the red days, massive discounts to be had… this is now a silent peaceful protest against the corrupt monetary system… the shitcoiners or anyone using massive leverage, debt etc are the ones lossing sleep and all that’s on their mind is “who do I dump my bags of shit on?” My conviction has jumped x1000 after I became debt free and I am super frugal too… no fucking fear, I don’t give a shit about price or what some fiat parasite thinks… it’s bitcoin on fucking nothing!
Remember that using DEBT to buy bitcoin is also leverage too… get rid of your fiat debt and the price of bitcoin becomes less stressful, especially if you are debt free, it’s literally like Christmas too me… a sea of red is like a massive sale.
Started to rename my bag of VET to DEBT
As you’ve asked for advice OP, I’m just going to give you honest personal finance advice that I’ve used. Before that though, just to take a minute to think. You’re in a bad spot, but it’s not the end of the world - no one has died, you’re still breathing, this is only money. You can get out of this, and plenty of people have been in situations like this and gotten out of it. You can too. You just need a plan, and to take action. Here’s the plan. EMERGENCY FUND 1. Put 10% of your salary into an emergency fund until you get to $1K - even if it means missing payments on some of your debt - you’ll sleep better knowing you have it INCREASE SALARY 2. a) Spend $10-30 a month on either books or Udemy courses that either make you better at your current job, or able to move to a new career that pays better; you sound like you’re young and you’ve already given up, there are *many* jobs that don’t require a degree and can be broken into by people who have the motivation (like you!) to do so 2. b) Get a better paying job or promotion as soon as you can; others might recommend a second job, but I’ve done that and long-term you are better just putting yourself in a career that has a high potential for a larger salary PAY DEBT 3. Pay the minimum payments on all your debts 4. a) If possible after getting to the minimum payments, start overpaying the loans (smallest loan amount first) with up to 30% of your salary 4. b) check every few months whether you can refinance onto better loans with lower interest rates using credit checks that don’t affect your credit score FINALE 5. You should now be in a position where you are: - In a career with the opportunity to grow - Hitting your minimum payments - Using 30% of your salary to pay off debt - Have $1000 in savings At this point, I would probably start trying to save 10% of my salary again so that I could build up my emergency fund up a bit (to around 2-3 months of minimum expenses), and after that start investing that 10% again (who knows, maybe even in Bitcoin!) Good luck mate!
oh I thought this was gonna be a post about how satoshi had the bank collapse headline in the genesis block and how crypto was created to totally free us from the bonds of DEBT slavery.
Where can we buy this so called DEBT with leverage?
Stake $DEBT for auto-compounding rewards
Every time you buy one $DEBT token you need pay back 2 tokens. So the debt lives on!😂
Why do you have an elephant called DEBT OP
This DEBT won't be needed to pay back either. That's a win win
Instructions unclear: took out a load and yolo'd in $DEBT
the administrators (FED/Treasury) should burn theirs oh wait, all they have is DEBT
"PAY BACK YOUR DEBT" but in Batman's voice
Credit cards were introduced by the fiat debt slavery bankers cartel. The bankers cartel who own your government. Introduced to INCREASE DEBT LEVELS because your government has given the banks the ability to create as much new fiat as they create debt. So no, there was not an avalanche of FUD against CCs. They were pushed by the banks, who own your government and most of the media.
People have not learnt anything in the last 6 months , from the Collapse of UST to the collapse of CEDEFI to the risk of CEX, in all of this, DEXes stayed on their feet with no problem, staking and grinding as usual because NONE OF THEM WORK ON IOU OR DEBT Kaddex only spreads fees, Uniswap as well, AAVE as well, there is no real risk to using those in financial matters the only risk is hacks and any good DeFi will be very protected and insured
Sorry, you are confusing debt and deficit. Deficit is the amount of spending OVER the income, which is being reduced, adding less to the overall DEBT compared to prior years.
Raising the base rate does NOT reduce the amount of money in circulation- nor does it reduce the amount of DEBT- it increases the cost burden of that debt. Bitcoin does not provide a risk free return any greater in principle than the growth of the economy and net value of all goods and services the economy provides. If there is an economic downturn the value of Bitcoin adjusts exactly and precisely to match that, automatically providing stimulus without any arbitrary banker market rigging. Bitcoin encourages personal savings accumulation and thus creates a pool of capital available if any investment is proposed with a good chance of exceeding the base rate of economic growth. Bitcoin returns the accumulation of and allocation of capital to individuals operating within the economy and removes centralised fiat dictated market rigging. Bitcoin enables capitalism. Fiat debases, distorts and fundamentally disrupts capital issuance and allocation- thereby fundamentally messing with capitalism itself.
> A little debt can be fine. But we print fiat money out of thin air with no asset backing it up. Let's be clear, people refer to two very different things as "printing money" today: 1. There's the actual, physical printing of paper and coinage currency. 2. There's various forms of leveraging including institutional lending and bond issues. The first is more or less an on-demand process. Currency is printed to replace existing currency as it is destroyed and to meet any growth in need. This seems like "printing money out of thin air," but that's not really accurate. Physical currency is the ***vast*** minority of wealth in most nations today. Most wealth is held in intangible forms ranging from credit to savings accounts to investments or in non-currency, tangible assets such as real estate. Printing currency to represent fluctuations in that ratio doesn't change the total wealth present in the system. It just accommodates demand for shifting forms of exchange. The second category of "printing money" is how the Federal Government in the US and in many nations generates the cash flow to fund its operations. The government sells bonds which come with a promise to pay a certain amount of money back after a certain period of time. For example, a bond issue might cost $1 and in ten years pay back $1.25, which is an annualized return of 2.3%. That's the premium the government is paying in order to get access to short-term operating capital. I just wanted to clear up that difference because they're so often conflated here. If, for example, the US were to move to Bitcoin as its formal currency (a move I do not think would make sense, though approving of Bitcoin as a means of exchange is fine) then that would not change the government's ability to leverage itself using debt issues. > We are in EXTREME DEBT globally right now will no signs of slowly down. Correct, but why do you think this is relevant to Bitcoin? Bitcoin doesn't change the picture. Whether the US Federal government issues a bond for $100 or 0.0051 BTC doesn't matter. It's still debt and they can issue as much of it as the market will bear.
A little debt can be fine. But we print fiat money out of thin air with no asset backing it up. We are in EXTREME DEBT globally right now will no signs of slowly down. It won’t slow down either until printing money out of thin air stops and we get a new and different GRC
this is why we need to BAN ALL DEBT. read your bible folks!
How would you if its just DEBT - $10-20k? If im not mistaken, you are not getting a cash check for the amount.
Student loan" forgiveness " is nothing but a cheap ploy to buy votes from the weak and feeble. And a slap in the fave to anyone who's made it on their own. It's a huge fkn farce. And the likely outcome, is when all the gullible idiots put in their votes for it, they'll turn around and be like " oh just kidding, i guess we can't do that" If you signed the paper, it's YOUR DEBT. point blank period. No one should be made to pay ( indirectly via taxes) for your choice to take out student loans. Or because you took out loans for a useless education and can't even find a job to pay the bills. Anyone who thinks this is right, or a good idea, is likely a dimwitted idiot. Change my mind.
Not that much debt by our government is fixed rate debt, and it is getting much worse as we have to keep borrowing more and more, esp with inflation. The real problem is when the USD loses value to inflation, the amount of borrowing will increase. Military spending does not go down because weapons cost more and Military/federal workers must also get paid more. Not to mention more cost of Medicare/Medicaid and all those govt expenses that is paid by debt. Ever wonder why a few years ago they just said "FUCK THE DEBT CEILING LIMIT... WE DONT NEED IT ANYMORE". Just let that sink in. The Congressional Budget Office (CBO) projected that annual net interest costs would total $399 billion in 2022 and if the fed keeps raising rates would soar from $442 billion to $1.2 trillion and summing to $8.1 trillion over that period of this decade. However, if inflation is higher than CBO’s projections and if the Fed raises interest rates by larger amounts than the agency projected, such costs may rise even faster than anticipated. The fact is, they cannot pull a Paul Volker and take interest rates up to 20% to stop inflation because of the debt level and the debt to GDP. We are more screwed than people know. They have to lie to us by giving us a FAKE CPI, and lie to us by saying we are not in recession. They have to look for every excuse to prevent hyperinflation by printing money just to pay interest
Do you have any idea how much interest the Treasury is paying on our current debt of 30 trillion? Do you have any idea how much more interest they will pay if they keep raising rates? Do you have any idea how much different the CPI is calculated today vs. the 1980's? Because if you did understand we would really be at 18% inflation. That means they CANNOT keep raising interest rates because of the DEBT and DEBT TO GDP. We would hyperinflate just printing money to pay the interest on our debt if we keep raising rates. Thus they must lie to use about the CPI and the meaning of recession. They will lie because they CANNOT keep raising interest rates because of all the money they printed.
They have no ability to forbid freedom of speech (that's exactly what U.S. courts have ruled BTC to be), nor do they have the ability to interfere with private contracts (at least not in this instance). I mean.... Federal Reserve Notes are private contracts in themselves. They are indeed promissory notes, which are indeed obligations of DEBT, and therefore private contracts. To outlaw Bitcoin wouldn't do very good for the existing system of currency.
ZERO leverage. All-Cash purchases. No MARGIN, NO DEBT. Nada debt, zilch. Stack, stake and HODL ETH to the richest!!! GLTA!!!
True. You're still angry and I'm still financially well off. Looks like my link was removed, but here's my story 1.) 33, HS Diploma (a few classes shy of a farsi/dari associates degree) 2.) Approx 160k salary (can make 300k if I want to work all year round). Schedule is typically 2 months off then 2 months deployed to the middle east. During my working months I typically work 6-8 hours 4 days of the week. I fly on manned ISR assets 3.) I live in Florida, but I can live wherever I want 4.) I live a frugal lifestyle, but can buy what I want without worrying. I typically put most of my money in stocks and real estate tho. 90% of my salary goes into stocks and I live off my rental income. EQUITY •80k cash • 300k in stocks/IRA •50K in crypto • 1.1 million equity across 14 rental units and my primary home DEBT • 400k mortgage debt EXPENSES • approx $600 a month for utilities, phone, and internet • I need to keep better track of my food/grocery budget, but I eat for free at work. Maybe 3-5k a year depending on how much I eat out. EDIT: I forgot to add that I bought most of my real estate while making approx 60k a year in the military.