In this report I posit whether the crypto currencies are in a bubble or whether we face impending hyper inflation of the fiat monetary system. I also compare the move in bitcoin versus the dollar to the move in the gold mark versus the reichsmark during the Weimar hyper inflation.
Bitcoin & Co.: Bubble or Symptom of Fiat Money Collapse?
7 years ago by maneco64 (74)
$27.18
- Past Payouts $27.18
- - Author $21.84
- - Curators $5.34
97 votes
- + ats-david: $13.942 (70%)
- + fulltimegeek: $4.108 (18%)
- + bobbylee: $1.817 (100%)
- + dimimp: $1.132 (100%)
- + reddust: $0.510 (100%)
- + speda: $0.509 (100%)
- + jchch: $0.453 (70%)
- + justinws: $0.384 (100%)
- + ilanaakoundi: $0.383 (70%)
- + themonetaryfew: $0.377 (100%)
- + bacchist: $0.359 (70%)
- + mynameisbrian: $0.341 (70%)
- + daniel82: $0.327 (50%)
- + michelle.gent: $0.297 (70%)
- + ourlifestory: $0.169 (70%)
- + supergoodliving: $0.157 (70%)
- + greymass: $0.145 (70%)
- + thylbom: $0.127 (100%)
- + l0k1: $0.123 (70%)
- + jacobts: $0.118 (100%)
- … and 77 more
I totally agree.
Another parallel to the Weimar Republic is the increasing political divide and increasing militancy of both left and right political wings.
I'm yet to start with Bitcoin and Ethereum though, do you mind me asking which wallet and exchanges you use/trust?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
@andybets You are totally correct about the political aspect. Post WWI Germany was highly unstable politically and that only helped to accentuate the monetary crisis.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
i agree the dollar is worthless trash
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yes. The emperor has no clothes! Bitcoin & Co. have looked behind the curtain.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think it's unfair to just mention the dollar. I'll take a dollar over any other fiat. Like I said in the reply to Maneco64, the US has vast resources, physical & intellectual. In addition the most advanced military in the world.
So while I agree it's crap, at least it's backed by America & Americans.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Addendum, geologists have also said that there is still about 70% of the gold locked up in the Sierra Nevadas, compared to what was found/pulled out. There's your Ft. Knox.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Great analysis as always. Don't panic people, just prepare. I've been stocking silver in the form of coins for many years, little here, a little there. Now I'm stocking crypto, a lot here, a lot there.
In America we'll make it. We have a large country with vast resources protected by oceans. We have the innovators in Tech, space, agriculture, etc. It will be painful, but we'll make it.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks @rt395. I have been doing the same as you for many years too.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Get crypto too. also what he said.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
In Venezuela we are suffering the total collapse of the currency and the economy. There are many similarities with the Weimer hyper inflation and the first Austrian Republic, however the causes of uncontrolled money printing were very different.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Surely it is signalling a fiat currencies collapse
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I see you are getting more involved in the community here.
Great to see!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yes. I am enjoying it and I think the community is growing quickly!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
thank you for another great video. i've been watching you on youtube for the past few weeks and started getting into silver and some cryptocurrency.
thought i better get a jump by following you on steemit now too. thank you again.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
@used02 You are welcome. Thanks for the compliment and for following me on youtube and steemit.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
My thoughts are that it is a symptom of our current fiat currency system collapsing under the immense pressure of never ending spending and printing of cash.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
That is my opinion too which I express in the video.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks for the video! I agree, that the amount of fiat currency are too much! As intrest rates will change the money will flow back to USA and hyper inflation will follow! Followed and upvoted!!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Edited: Misread. sorry, good comment.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hey Maneco, I came over from you tube. Can you follow me? I'm @bagelman
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Sure @bagelman. I will definitely follow you.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
100% Fiat collapse.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I love your rationality. Your youtube channel has become daily viewing for me recently and I am excited at what the future holds in the crypto sphere. From the bottom of my heart, Thank you.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I like your calm and reasonable attitude.
All these many altcoins are worrying me, because they all were rising like crazy. I'm expecting a big purge eventually. I'm afraid that Bitcoin might suffer too in this case because the money in crypto seems not too smart as it has been pumping all alt coins so blindly. Still I trust Bitcoin in the long term. I don't like Ether at all, because it has potentially unlimited supply. I wonder when the market starts realizing that and what then will happen. As long as the alt coin pump keeps going, there will be ever more new alt coins, which would be an unhealthy development. The unneccessary Bitcoin scaling debate is fueling all this.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
https://goldsilver.com/blog/ed-steer-only-eight-traders-shorting-silver-banks-leading-the-way/
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Look at this video maneo 64 please and tell me what's your take, and what more can you tell me about it since I'm financially illiterate
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit