We are about to see the monetary power of the U.S. government - page 2.

webtricks

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Quote from: davis196 on March 28, 2020, 02:35:24 AM

Quote from: Jeezy911 on March 27, 2020, 10:05:06 PM

Expect a price jump when stimulus checks start rolling in. I know I'm personally buying some crypto anyone else feel the same way?

So we all have to rely on the mercy of the Federal reserve to print some money and pump the price of Bitcoin? Grin

I thought that Bitcoin is supposed to be independent from any central bank in the world.This is what Satoshi Nakamoto told us,but now 90% of all Bitcoin users only care about the BTC price(which is normal,but sometimes it looks absurd to me).
The stimulus package might pump the BTC price,but probably after a year or two.The global economy has to recover from the lockdowns first.

You are right. Let me add another dimension to your answer:

There is a difference between price and value.

Price of Bitcoin depends upon the currency in which we are determining the price of Bitcoin. Most popular determinant of Bitcoin's price is US Dollar. It is a simple economic concept that if the quantity of base determinant (USD) increases, the price of provided commodity (Bitcoin) will increase. ^[1]

Even if price of Bitcoin increases, it doesn't mean its value is increasing too. It may rise because of the fall in the value counter determinant (USD) ( as discussed in ^[1]). Hence we all should focus more on increasing the value of Bitcoin, price will rise automatically.

abhiseshakana

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From Zero to 2 times Self-Made Legendary

Recessions are usually defined by negative Gross Domestic Product growth in two consecutive quarters and many believe the US has entered that condition. This condition does not only occur in the United States but also in almost all countries that are grappling with the corona pandemic.

The stimulus package provided to the public will not be too influential because it will be used as consumption rather than investment. 2020 is a bleak year, a year full of uncertainty and a year of economic downtrend. With a gloomy business situation, do entrepreneurs and investors have to be bleak and pessimistic?

No way, in this condition investors, should think paradox or anti-mainstream thinking & think out of the box if necessary no box because the situation is extraordinary. For example, if other entrepreneurs focus on cost reduction due to uncertain situations, we can focus on growth. If others wait and see we must be pro-active in responding to the market, due to the quiet market momentum from competitors. It's time to start building a business.

tomahawk9

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Cats on Mars

Quote from: Jeezy911 on March 27, 2020, 10:05:06 PM

Expect a price jump when stimulus checks start rolling in.

A pump in the btc price? Hopefully, but i find it unlikely to happen.

Either people will use that money to buy and stock up food and toilet paper, or they'll put it in stocks. Seriously, all I see in forums, social media, discord/tg channels is people encouraging others to invest in stocks...smh :/

o_e_l_e_o

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Last year it was "Institutional Investors". The year before it was "Wall Street Bonuses". Before that it was "Chinese New Year" or some other nonsense. Are "Stimulus Checks" going to be the big fat nothing-burger for this year? Very few people are going to spend their stimulus checks on bitcoin. Most need to spend it on necessities. The ones with a steady income through this mess probably have far more excess income from a complete shutdown of their social lives - no restaurants, no eating out, no bars, no clubs, no vacations, no travel, no shopping for non-essential goods, etc. - than they would from a stimulus check.

Quote from: hugeblack on March 28, 2020, 11:04:42 AM

* This may change if a global recession occurs.

It's not a case of if, but when. In fact, there have been quite a lot of rumblings over the last 48 hours that we are already in a recession. The chairman of the Fed said as much regarding the US a couple of days ago. The IMF Managing Director said today that we are in a global recession.

hugeblack

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All the solutions that have been taken are plans to stimulate and revive the crash caused by the Corona pandemic, so we may see more fluctuations in prices.
Therefore, stimulus checks will not change in prices because until now we face a health crisis, not an economic one^*.

Generally, there are some extreme theories that say that it is the best time to invest in anything you trust in it’s future, but I recommend you to be less extreme.

* This may change if a global recession occurs.

bits4books

sr. member

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Crypto is not a religion but i like it

While you are buying a BTC printer is doing "brrrrr"
Who would win - crypto users or "heh money brrrrr"-boomers?

alexeev.tosha0109@yandex.

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Quote from: Jeezy911 on March 27, 2020, 10:05:06 PM

Expect a price jump when stimulus checks start rolling in. I know I'm personally buying some crypto anyone else feel the same way?

Price jump will likely happen, I'm sure it's inevitable. But it won't be like unexpected hyperinflation.

stompix

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Blackjack.fun

Quote from: Jeezy911 on March 27, 2020, 10:05:06 PM

Expect a price jump when stimulus checks start rolling in. I know I'm personally buying some crypto anyone else feel the same way?

1 200$ per citizen and in a lot of cases less than that and sometimes none?
Nope, there won't be a jump because of that, 1 200$ might be much by third-world standards, but in most countries, it's nothing that would trigger an urge to invest, just as figmentofmyass said. Those that have lost their job are losing much more than 1200$, they won't gamble that money, the ones that afford to throw away that could have invested a long time ago with no stimulus check.

Nope, this helicopter money will not make a dent in the price, but if we get through all this corona shit not that badly scratched and everything is back to normal in two months, then we will have a serious growth. Remember that in order to invest in something people need to have sufficient money and not be riddled with questions and thoughts about unemployment, disease, and death, nobody invests in something because he is jobless and his family is sick!

davis196

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Quote from: Jeezy911 on March 27, 2020, 10:05:06 PM

Expect a price jump when stimulus checks start rolling in. I know I'm personally buying some crypto anyone else feel the same way?

So we all have to rely on the mercy of the Federal reserve to print some money and pump the price of Bitcoin? Grin

I thought that Bitcoin is supposed to be independent from any central bank in the world.This is what Satoshi Nakamoto told us,but now 90% of all Bitcoin users only care about the BTC price(which is normal,but sometimes it looks absurd to me).
The stimulus package might pump the BTC price,but probably after a year or two.The global economy has to recover from the lockdowns first.

figmentofmyass

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Quote from: Jeezy911 on March 27, 2020, 10:05:06 PM

Expect a price jump when stimulus checks start rolling in. I know I'm personally buying some crypto anyone else feel the same way?

people will do what they normally do with stimulus checks: those who don't need it will put it in the bank for a rainy day. those who do need it will immediately spend it on rent/mortgage, food, supplies, and paying bills.

i'm sure there is a very small minority like you who will spend their stimulus checks on bitcoin, but i doubt they will outweigh those investors who are currently selling because of the economic crisis. the pandemic has been horrible for bitcoin investors and the stimulus checks don't do much to alleviate that.

the stimulus check barely makes a dent in my monthly expenses. for me, it's not even enough to bother sending to a bitcoin exchange. it's a tiny emergency cushion in my bank account during uncertain times, nothing more. i already have enough bitcoin tucked away in case it miraculously emerges into a bull market.

Jeezy911

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Expect a price jump when stimulus checks start rolling in. I know I'm personally buying some crypto anyone else feel the same way?

Topic: We are about to see the monetary power of the U.S. government - page 2. (Read 330 times)