well mining at this price is good since usa miners have to pay income tax on bitcoin mined at the price they are mined at.
so while everyone is panicking i am continue mining!
with the latest mining gear we appear to be good for mining into the beginning of next year.
maybe first few months of next year unless some new mining gear hits.
this decline in bitcoin, gold, and silver started as the dollar went up .
we are at our third peak in five years and each peak has resulted in a crash of the dollar.
it is possible we are at the run-up to the final crash of the dollar.
i heard a rumor when blood is in the streets then is time to buy!
The federal reserve is ending QE while the ECB is starting QE-like programs. As the euro has a 57.6% weight in DXY the dollar is unlikely to crash any time soon.
USD has got some room to run yet, but it is going to peak and come down with a bump, the next run down, is of course going to happen eventually.
Though the combined global can kicking may put this shit storm off for a while.
Draghi to the rescue with almost a trillion dollars - splendid.
Phantom bond buyers to the rescue
- splendid, are we ordering glass of chimay with steak-frites or are we ordering suntorys and steamd buns? or should that be budweisers and burgers? want fries with that? mayo? cheese? full fat unicorn?
Though that being said the eurozone, QE or not, is in the shitter... trouble is brewing, and they are kicking the can slightly up hill... and in that basket too we have Japan, which as QE daddy, have got a revolver in their mouths with two in the chamber, or so it seems... the bank of japan pretty much buys all of jp bonds now, the older generation gone and investors are becoming more and more bond shy in Japan. Then you have got the UK which also is not having a great time either, and then the swiss franc, that might change in their upcoming referendum (I would love to see them vote yes, reckon they will vote no though)
How the USD stands up against those guys and their evolving shit storms, we shall have to wait and see... and also see how the
developing situation plays out with China and their own plate balancing act. If they do actually stop the QE, then I think USD will continue to rise...which will further put a dampner on US exports. Also we shall see what happens when rates start to rise, and people are forced off the easy money teat. I know that something has got to give... the music has got to stop at somepoint, infinite bond market bull mode and high yields are unsustainable. But I am not convinced they are going to stay the course , staring down that barrel can do strange things..and it might be that the push comes from overseas i.e china runs into problems due to a credit crunch and this knocks on and they tighten their belts, though they now are too making their own moves to stimulate the market, in light of declinging property prices and weaker figures in general.... but then if the slow down is not stopped and they do tighten their belts then this could cause problems too (plus the business environment in china is crazy, more down in a basement, than under the table)
Something has got to give... the music has got to stop at somepoint, infinite bond market bull mode and high yields are unsustainable.
Ever get the impression the major economies are spinning plates? wobble ....... woah......... wobble......... woah.... oh shi£$%£$%^....fol
Road ahead looks rocky in so many ways... they are not going to be able to catch one of those plates, sooner or later, and once you miss one.....
The future's uncertain, and the end is always near.
Let it roll, baby, roll.
Interesting times. I'd question some of those explanations of the situation though, many are the same as touted by the mainstream financial media and after seeing how the same channels have reported on Bitcoin (distorted facts or outright lies and very selective reporting) I'd be sceptical of anything they report. They don't fit with the reality, look at the bitcoin charts today and the same kind of patterns are clear on charts of major markets, traders so large they can move international currency markets and mainstream reporting frequently whitewash obvious interaction of these traders.
