We've witnessed almost two months of soap opera-esque main stream media circus bullshit about bitcoin and cryptos, that anyone with a brain cell has been able to clearly see through. South Korea is banning cryptos..... well actually, no they are not. India is banning cryptos.... yea, not really.... One after another, news stories have been plastered across the internet in a obvious attempt to drive down the Bitcoin market price (oh yes and there is a very good reason for that....)(but that's for another day), selling absolute garbage to the public with desperation that is very transparent.
But as I always say, every article, regardless of the propaganda and agendas and outright lies, has a nugget buried within it, you just have to be able to sift through the stinking offal to find it. This article from Zerohedge is one of those little gems. Lot's of blather and distraction, and yet right in your face is an absolute truth that screams to be scene:
"...many former Wall Street professionals - some with backgrounds working at hedge funds or quantitative trading shops - have embraced cryptocurrency trading....one venture capitalist interviewed by the FT offered an even more revealing answer: "Over the past few years or so, everyone has just been buying indexes and they haven’t been doing price discovery.They’re just investing in a trend of something going up and up and up," he says. ... and that's all that you really need to read in the article. The Gem of truth: The stock market stopped making sense I've spoken with several major traders over the past few years, and had contact with many others through friends and groups, who have all done the same thing: Gotten Out. Because to any thinking, logical person, it is absolutely obvious that the "Markets" are broken. Not just broken in the way that perhaps a piece is old and warn out and needs to be replaced, but busted-down-completely-not-working-at-all-any-more Broken. And it has been for a long time now. (specifically since Nov 2012). So those that can, have left the building. The Markets no long contain any value, nor any ability to store or trade value. All that you see now is a deadman circus that is desperately trying to convince the public that "All is Well". .... so if you're a smart trader, no doubt addicted to the life.... where else are you going to go? Cryptos, of course. Because the Smart Traders have realized that there is no other game left in town. d
"I’ve been out of the stock market because it stopped making sense to me," he says. Central bank support for the markets plus the trend of passive investing have turned it into a game with unclear rules.
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"Stocks No Longer Make Sense To Me" - Here's Why Quants Are Embracing Bitcoin
Original post : http://www.rts.earth/2018/02/reading-between-the-lines-of-the-anti-crypto-propaganda/
I've just been trudging my way through an investing course ... only to find out she wasn't going to talk about crypto ... after which it was like wading the wrong way through a riptide for me. I have no interest in the stock market it seems, and now you gave me some more justification to have no interest in it. Thanks @daniarnold :-D
Suddenly, I feel like I must almost know something, deep down. LOL.
Stock market stuff just left me cold.
Crypto is exciting.
I'm not sure that is a good trait for me as an investor!
Beautiful.. Will be posting some block chain posts on steem soon..
Here is one of the huge differences between places in the west, esp america and places in the east.. In the west they have been sold that the markets are an investment.. as safe and sound as a bank.. (GaaHaaaHaaa).. In the east as a whole it is a much more realistic view that if you toss money in to the markets,, you are gambling...
Dani, Your post is exactly why I look at the blockchain.. Because it is in non-securities. Because they deal with the practical and tangible day to day aspects of the world that people live in.. The controllers want you to beleve that it is about cryptocurrincies.. Bitcoin has its purpose,, but what do you think that purpose is for the long term..
But no cryptocurrency can hold a candle to when the property or land titles are on the blockchain...
And wisdom from Mary Poppins...
I discovered bitcoin when the price was $975AUD, not having any idea where it would take me I dove right in without fear.
From the onset I realised this was not only probably the currency of the future but that if it ever really took off and was adopted by the masses the likes of the stockmarket and bankers would probably get pissed.... Fast forward 2 years and the price hits $25000AUD and here in Australia people were selling their homes and souls to cash in on the craze.
Blind Freddy can see the market is being manipulated and sadly many have "the sky is falling" mentality and run to scramble for cover. Some of us stand our ground and look up at the sky to see what's revealed beyond...
It's very interesting times indeed and I for one am thriving on watching the show unfold, scrutinising the main actors and unravelling the plot...
This was the recent Senate hearing on cryptos with the SEC and CFTC.. I watched most of it and it was interesting.. In part because they had to specifically define what a security is. Another little point was that when derivatives come into play they regulate that.. The big thing to see was even though the guys being asked questions are intelligent and were really good at answering questions with out much bullshit. Its obvious everyone is way behind the eight ball on this,, possibly unrecoverably so with the current financial system.
This was probably the most important piece out of the entire hearing.
And Boom! nuff said ! I love to see all the old school players scrambling for control of something they can’t control.
or scrambling to get onto the train before it leaves the station ;>)
d
Yeah,, but are they going to be let on the train with the fake golden Wonka tickets..
From what I see their tickets will go to another place..