At this point I think our throwing money at exchanges should be split to decent low cost exchanges and other havlf at Maidsafe. Hardest part is right now we feel far less rich than we did even just yesterday. Unless you shorted the hell out of this mess, which I almost did but alas did not. Regert
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Trading, even in crypto, is done a lot through bots these days. I think the crash in crypto is just bots compensating for stock-market losses. The crypto is covering positions in bloated portfolios that have a percentage of crypto, which is acting as a hedge. In this way crypto is indeed a security, in terms of storing value.
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The money isnāt going anywhere, it just disappears. Take for example Bitcoin during the last 24 hours:
- at one time it was worth about 7000ā¬
- at another time it was worth about 5000ā¬
Between these 2 points in time the Bitcoin market cap just decreased of approximativement 18.2 M * 2000ā¬ = 36.4 billions ā¬.
Same for gold, stocks, ā¦ All market caps can decrease simultaneously without transfers from one class of assets to another.
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The ācrashā for MAID was very short-lived indeed. Yes I know its early days but already I am regretting not lumping on BTC when it went to $5.8k. Now back over the $6k
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We might get another drop to 5-5.5 so set your buy order. Then again be prepared to possibly go deeper. The spot buying volume is just not here atm
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You simply donāt know this.
I lived through the 2008 crisis and obsessed over the doom and gloom of it all. There was all the gold hoarding, the proclamations of western collapse, end of days stuff. It didnāt happen, things just pivoted and carried on.
One big change, was that Bitcoin was born. It was a hard money, in response to the financial chaos. This was long before the lambo kids arrived and people believed in its world changing abilities for all the good and honest reasons.
What will be born out of this crisis? Probably more remote working, fewer and shorter global supply chains, less profligate spending. Maybe even a secure, distributed data networking, with a better form of digital money and more security and anonimity for individuals.
Money, by and large, is just promises. Some promises are broken, others are kept. Bankruptcy liquidated and redistributed assets to where they are more useful. Life goes on. People continue to work and spend time with their families.
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I didnāt suggest any macro view, you decided to paint that picture. In any case, as a I said, āquality stocksā will rebound fairly quickly and you can decide what that time frame means to you, 6-18 months. Utilities, certain consumer discretionary stocks, high level tech will all make fast recoveries because the majority have heavy cash on their balance sheets like Apple and Disney. Liquidity will be pumped into markets, your housing guess is purely based on region and whether we are talking every day living or luxury. Agree health care costs will rise but perhaps this is the final face to face meeting that drug companies and the public need to have before change is made.
There is almost no chance of the current housing market to fall off because rates are already cheap, consumers not over leveraged in their homes and itās also been a slow climb for millenials to buy a home in the first place. We could see a slow down in the luxury market, big cities, new building ect. but that whole scenerio you described doesnāt fit the climate of the last 10 years.
We havenāt seen the debt bubble explode yet. Once it does it will be the trio of black swan events occurring in combination , virus, oil and debt. Never happened before and implications for jobs are unknown. Iām buying gold and Maidsafe coins. Hedging my bets. One of the two will rise to the top
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Sell the house to buy MAID x 100
MAID would be over $1000 USD.
Selling clumsy stuff is what made
BTC great, thatās the spirit needed.
What a tumble 0.042 almost time to buy? Tempting.
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Friend, there will be corpses on the streets ā¦ The panic has not even started ā¦
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This will hit under a cent if bitcoin canāt find a bottom or semblance of stability.
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Is this a crash, or a crimewave?
Who benefits from the virus?
Who is going to be selling more of their product because of the virus?
Central banks.
And their product?
Debt!
Pandemic (0.001688% of worlds population infected), cover for a huge robbery?
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Iām thinking deeply about if this as genuine as it seems and who would benefit from this and how if not. So far I have nothing. It seems genuine. Even credit card companies are telling people that if they are missing work due to the virus to call so they can push back payments. Places all over the world are just shutting down. Travel businesses, tourist destinations, conventions, hotels, airlines, business in general all suffering.
Iād like to hear your thoughts though @John
There were signs of the markets getting ready to crumble. We all should have known better. Celebrities and the rich all selling their mansions over the last year, auto market declining sales, negative yield curve, overvalued companies. I wish I would have been more proactive personally instead of assuming they would be able to prop it up for another few years.
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I would think there are a number of people pulling money out of crypto to use for stocking up on food, etc, and knowing cash will buy real things where crypto is very limited.
Also getting cash out of crypto when their country is pretty much locked down will not be easy so they are doing it now.
Basically when everyone is covering their arses (even a little) it causes major disruptions and drop in everything that is easy to pull cash out of.
Just look at toilet paper, even everyone buying one extra packet of TP causes massive shortages because manufacturers cannot up production by 200% overnight. Everyone covering their arses causes shortages and drops in prices of stock like items
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Iāve been more excited about the technology than Iāve ever been.
Maybe money doesnāt matter.
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Well worth an hour of your time
Tldw ābuy Maidsafecoinsā 
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Idk, for some reason Iām just not thinking this is the ābig oneā where global debt is reset. It does very much depend on whether we can print enough money to buy our way back out of this, though. My gut feel is that the powers that be have enough financial dark magic to bail the system out one more time. This feels a little different than 2001 and 2008. Those were clearly system-induced crashes vs. being able to cleanly blame the virus and oil price shock. I think the tolerance for printing money will be much higher this time. And if the virus and oil situations are brought under control in the next 6 months to a year I think a lot of pent up demand will get released. One way or another the way this thing spreads the landscape will be very different in a few months. Hopefully we can keep the most vulnerable safe while this plays out.
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Looking to buy more maid from USD. I have easy on ramps to btc, from there in the US, whatās my best bet? Iāve found changely has maid. Anyone use it? Not looking to KYC at tons of exchanges. An istaswap service would be ideal.
Sorry if this has been asked a ton of times in this thread. Iām a hodler not a trader and just saw how low maid is to USD.