Bitcoin all time high

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LukeTbk said:
I am not sure to which point you are addressing, I imagine wealth gap ?

I feel actual mensuality versus income (and household income not just median income)

The house size more up by more than 2.5x since I think (compare the median house over time can be a bit like the median car and looking at the price of a Corolla over time when the Corolla of today is bigger than the Camry of the past), people buy themselve 5 time more house by person than back in the days, which seem to indicate that people got much richer, but buy more:
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It is true that by square feet it is really constant over time and it is not something that got cheaper, but I am not sure what it tell us about wealth gap that the median household can afford such high price and such big house, is that a sign of the median being the rich of yesterday and a diminution of the wealth gap of it's rise ?
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The house size point is way overemphasized. Houses used to come on large lots, these days you barely get any land at all with new construction. In many parts of the country, the land is worth far more than the house. That's the point the inflation downplayers never emphasize I notice. It's a very interesting omission that in many ways gives away the game they play (which is status quo defense).
 
pippenainteasy said:
The house size point is way overemphasized. Houses used to come on large lots, these days you barely get any land at all with new construction. In many parts of the country, the land is worth far more than the house. That's the point the inflation downplayers never emphasize I notice. It's a very interesting omission that in many ways gives away the game they play (which is status quo defense).
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The massive increases in the cost of land is not simple inflation -it's ac combination of two contributing factors:

1the demand for housing lots increases with the increase in your general population - witness the huge drop in lot value in dead cities like Detroit

2 if the demand massively exceeds supply,, people will bid-up any newly-listed lot with any desirable aspects (imagine if Ebay Auctions were the only resource for buying new CPUs, and you get the idea!)

This will often exceed the valuer of the house!

lots in a vacation destination in the same state usually are price 3-5x higher than in your hometown -not because of inflation, but because everyone wants a piece

Construction / materials prices are the only part of the cost of a home tied to inflation, but since materials go through cyclical part shortages, its not immediately clear how much this spikes home prices! The other half i therising cost of labor (this the only portion of your new home price tied directly to inflation)
 
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i feel like i missed a memo.

a MAJORITY of [H] not only do NOT think crypto is long term, they truly believe it is all a big scam/hoax.
you can go into any sub-forum and find large quantities of topics that have turned into a political debate.
you can say anything you want, EXCEPT for the sub-forum dedicated to saying whatever you want.

when did [H] eliminate Tech discussion and turn into current events for right wing political pandering?
 
Zedicus said:
i feel like i missed a memo.

a MAJORITY of [H] not only do NOT think crypto is long term, they truly believe it is all a big scam/hoax.
you can go into any sub-forum and find large quantities of topics that have turned into a political debate.
you can say anything you want, EXCEPT for the sub-forum dedicated to saying whatever you want.

when did [H] eliminate Tech discussion and turn into current events for LEFT wing political pandering?
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FTFY

If GPUs were plentiful and near MSRP, the average [H]'er wouldn't care about crypto unless they were investing in it let. Whether or not its a good long term investment or a big scam/hoax is still up for debate.
 
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pippenainteasy said:
The house size point is way overemphasized. Houses used to come on large lots, these days you barely get any land at all with new construction. In many parts of the country, the land is worth far more than the house. That's the point the inflation downplayers never emphasize I notice. It's a very interesting omission that in many ways gives away the game they play (which is status quo defense).
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Must admit that when people brought median house cost and so on, I had the actual house not the plot of lands in mind (for which I would imagine a much bigger increase of price overtime than the house).

But I am not so sure 20s was before the urban sprawling, do you have a source ?: (latest numbers seem to be in the 8,000 which seem in the same ball park than the 20s)
MW-FW451_lot_us_20171017142417_ZH.jpg


The point stand people with their income buy much more house now than pretty much anytime before (maybe outside 2006-2007), not only bigger, but more electricity-plumbing-air control-network-isolation-windows, etc..., if it was legal for someone to build the very small 1920s median house in term of capability in the middle of a low demand sector, I am not sure how far off it would be from the inflation number we see around.

The 2 are important and linked, but there is a difference between the cost of living (cost more to live the average life) and inflation (how much you get for a dollar), people started to feel (almost all of them wrong, specially the dataplan part) they need a phone or Internet rise the cost of living, but in term of inflation, how much you get for your dollars spend on the Internet versus spending a dollar on cable and the landline phone in 1991 one could argue you get much more by dollars. People will tend to buy has much house they can afford specially if they confident they will resell higher, if they make more money it will not show up has cheaper house, but more of it.
 
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kirbyrj said:
FTFY

If GPUs were plentiful and near MSRP, the average [H]'er wouldn't care about crypto unless they were investing in it let. Whether or not its a good long term investment or a big scam/hoax is still up for debate.
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Unfortunately many folks either lump something one way or another and not look at individual cases/Crypto, how can be used, benefits, liabilities etc. What will work, what will not work, what is working, limitations. This also goes into vague generalizations promoting or discounting Crypto which goes to left field fast when politics enter the picture with virtually zero connection to anything.

I think one of the biggest events/tests for Crypto just occurred that just did not receive a blink or was noticed much. The largest Country for mining BTC virtually shut it down, one of the largest segments using/investing/selling BTC virtually shutdown. Talking about China. What was the effect to BTC -> lol, it went up. :D. Politics may have very little to do with some Crypto. Does that mean nothing can? Well a big solar flare taking out half of the Worlds network infrastructure, many satellites etc (an event similar to Carrington Event of 1859), World War where networks are killed or prevented -> Crypto does depend upon a World Wide Network to prevent separate diverging blockchains forming, making consensus impossible without losing a lot of transactions.

As for the impact upon GPU availability, it is only a small piece of the pie for many uses that GPUs now provide today.
 
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Epyon said:
62k.

Will this bitcoin shit ever end?
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I've been thinking about this a lot. It's possible that BTC or all of crypto is a "commercial failure," meaning that it doesn't replace national currencies for most transactions. OK, then it's just a "collector's item," independent of exchange rates, etc. But, if there are enough true believers, then it is entirely possible that BTC will go higher than 62K, a lot higher, before peaking.

Since I'm lousy at market timing (who isn't?) I'm going to stick with US dollars and securities that are traded on a major stock market.
 
philb2 said:
I've been thinking about this a lot. It's possible that BTC or all of crypto is a "commercial failure," meaning that it doesn't replace national currencies for most transactions. OK, then it's just a "collector's item," independent of exchange rates, etc. But, if there are enough true believers, then it is entirely possible that BTC will go higher than 62K, a lot higher, before peaking.

Since I'm lousy at market timing (who isn't?) I'm going to stick with US dollars and securities that are traded on a major stock market.
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I think it definitely could go a lot higher. You just never know with this stuff. Tesla stock is over 1200/share and is more "valuable" than lots of the other big auto manufacturers combined. It just makes no practical sense.
 
Furious_Styles said:
I think it definitely could go a lot higher. You just never know with this stuff. Tesla stock is over 1200/share and is more "valuable" than lots of the other big auto manufacturers combined. It just makes no practical sense.
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Time for a share split. I know a guy who is on his second Tesla, and a complete fanboy. He simply cannot tolerate any criticism of the company or Elon Musk. However, on paper he has made a LOT of money on the Tesla stock he bought. My guess: Tesla gets acquired by one of the major car companies for both the brand and the technology.
 
philb2 said:
Time for a share split. I know a guy who is on his second Tesla, and a complete fanboy. He simply cannot tolerate any criticism of the company or Elon Musk. However, on paper he has made a LOT of money on the Tesla stock he bought. My guess: Tesla gets acquired by one of the major car companies for both the brand and the technology.
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Those people are insufferable. I don't care how much money you make on whatever stock, you should never lose sight of reality.
 
Furious_Styles said:
Those people are insufferable. I don't care how much money you make on whatever stock, you should never lose sight of reality.
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He was my boss for about 10 years. About two years in, he got a Tesla. Before that it was a Porsche Boxster, which I liked a lot more.
 
Furious_Styles said:
Those people are insufferable. I don't care how much money you make on whatever stock, you should never lose sight of reality.
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These are the same sorts of goofballs that end up getting over extended and holding on until the bottom to end up with nothing. If you can't keep a fresh perspective then playing with individual equities, especially with more than you can afford to lose, is gasoline and matches waiting to happen.

The world we live in now has changed. Gramps and grams used to be able to put their life savings into a savings account, make 5%, and retire off that. That hasn't been an option for some time now and so we're all leveraged into the stock market like it or not. There is no money in money any more.

The way some people talk in these threads it's almost like they either can't handle the idea of having any regulation at all and are borderline anarchists or otoh they've never met a regulation they don't like no matter what the cost to freedom, privacy, etc..

The whining about gpus is going to continue until you can go to a website, add to cart, and check out for whatever msrp is and do so on demand. Mining is one of the pressures put on that supply and so the crying about it (here) is not going to quit.
 
Riptide_NVN said:
These are the same sorts of goofballs that end up getting over extended and holding on until the bottom to end up with nothing. If you can't keep a fresh perspective then playing with individual equities, especially with more than you can afford to lose, is gasoline and matches waiting to happen.

The world we live in now has changed. Gramps and grams used to be able to put their life savings into a savings account, make 5%, and retire off that. That hasn't been an option for some time now and so we're all leveraged into the stock market like it or not. There is no money in money any more.

The way some people talk in these threads it's almost like they either can't handle the idea of having any regulation at all and are borderline anarchists or otoh they've never met a regulation they don't like no matter what the cost to freedom, privacy, etc..

The whining about gpus is going to continue until you can go to a website, add to cart, and check out for whatever msrp is and do so on demand. Mining is one of the pressures put on that supply and so the crying about it (here) is not going to quit.
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5%?! That must be like the late 90s. I remember when interest rates were in the double digits in the 80s.
 
I could be wrong here but I think that was a bit of a blip. Previous to that interest rates were higher but not double digit territory for the most part. What we've seen in more recent times is pretty consistent rock bottom rates forcing everyone out of savings.
 
Yeah not just people, it forces banks to engage in speculation too. When interest rates are high, banks can lend to small businesses and help the economy grow. When rates are low they are forced into speculating on asset prices because there are no returns on business transactions. This creates asset bubbles and the boom and bust cycle we've seen since the late 80s when the Fed put was introduced.
 
I invested in Nvidia to start offsetting the price (for me) of their GPUs sometime back, has paid off (well beyond the joke reason to get in) - I literally just did the same with bitcoin - I threw some in when it was back down @ $40k to add to the Staknhalo GPU Fund™️
 
still a little regretful for losing that 1 bitcoin I mined wayyyyyyy back.... but only a little :]
 
BTC is probably going to go higher as all the recent TV/cable ads for Bitcoin get more people into the market., at least until some people figure out the real deal. I sure hope that no one is buying BTC on margin.
Blex said:
this doesn't mean Bitcoin is going to zero
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Man, a lot of people arguing here like they know what they're talking about with regard to crypto and fiat currencies. You guys are all completely off. We all know that the future of global trade lies with Shiba Inu coin!
 
HockeyJon said:
Man, a lot of people arguing here like they know what they're talking about with regard to crypto and fiat currencies. You guys are all completely off. We all know that the future of global trade lies with Shiba Inu coin!
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The dogefather wants to have a word with you...
 
pippenainteasy said:
5%?! That must be like the late 90s. I remember when interest rates were in the double digits in the 80s.
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Ha I laugh at Boomers that go "Oh back in the early 90's we were paying 9% interest on our mortgages!"

Yeah..9% on a £30,000 mortgage with 3 years left to go and a endowment worth £50,000 to pay it off.

Real hard times.
 
TaintedSquirrel said:
The only reason everything else isn't tanking is because the markets are closed lol.
Upcoming months were already going to be rough, if Russia/Ukraine kicks off then yes it will be even worse.
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Now that Donetsk and Luhansk People's Republics have been declared as independent, the potential for a conflict to erupt (or expand, depending on how you view it) has gone way up. Asian market futures are down again after today's losses, currencies and commodities are up.. I have a feeling the markets are going to plummet tomorrow after these latest developments.
 
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