The biggest financial crash in history will happen in 2019

[GuyGadeboisTheBack]

Guy, the use of crypto currencies is still in the old model, as an unrealistic escape attempt.

In any case, I know kids who play this and for whom it works with the fire of God!

[Ahmed]

This only demonstrates the tendency of the virtual to replace the standard model which has become obsolete ...

[Christophe]

Guy, the use of crypto currencies is still in the old model, as an unrealistic escape attempt.

In any case, I know kids who play this and for whom it works with the fire of God!

You were not yet on this forum : economy-finance / bitcoin-and-cryptomonnaies-c-is-what-a-bubble-financial explanations-en-5 minutes Chrono-t15489.html

After that it's not very hard to do better than 0.75% per year

[eclectron]

Either way, you are discussing an economic system that is about to be replaced by another. Take an interest in cryptocurrencies that generate incredible profits, see their mechanics and you will have an idea of ​​what the future will become.

Crypto is in line with the excesses of the current system, right?
Current money is already perfectly virtual.
Cryptos are a bubble, momentary, like all bubbles.

[GuyGadeboisTheBack]

Cryptos are a bubble, momentary, like all bubbles.

Momentary, that would surprise me. We will speak again.

[Christophe]

What makes me laugh are the "specialists" who spit (as with every bitcoins leap) on bitcoin speculation ... while carefully omitting to specify that stock market speculation (especially on agricultural commodities) is no more. honorable and see worse because this endangers real lives ...

[GuyGadeboisTheBack]

What makes me laugh are the "specialists" who spit (as with every bitcoins leap) on bitcoin speculation ... while carefully omitting to specify that stock market speculation (especially on agricultural commodities) is no more. honorable and see worse because this endangers real lives ...

Given the opacity of the cryptocurrency system, we have absolutely no idea what we are doing, or the consequences that it can have.

[Christophe]

Can you develop? Maybe in the bitcoins topic ...?

Without being a specialist and for what I know I do not find this at all opaque on the contrary all transactions are in the "ledger" of the blockchain accessible to all ... some crypto are supposed to be correlated with real life stuff ... not sure if they really sound that but most of it is just speculative ...

What is fearful on the other hand is mining ... I read yesterday that a big idiot had bought 78 RTX 3080 (in the 2000 € per card per unit!) And that it brought him $ 100 per year (not counting electricity: 000 kW permanently! ) ... except that 100 is as long as the corners are high but he will take a hell of a slap in his mouth! Do not understand yet?

[eclectron]

Eclectron, you write:

Capitalism, which by nature demands growth, is a problem today, whereas it was a solution yesterday.

It may have appeared at times as a solution (and continues so in many minds, due to intellectual inertia), but it is neither a solution nor a problem, rather a utopia-real of a transitory nature. as a vector of thermodynamic determinisms ...

No, no and no.
As if these determinism were unavoidable: "we surrender to something that is beyond us .... thermodynamics"
We could very well have been smart before and put in place a sustainable economic model.
See Meadows 1972.
And even long before if "touched by grace" but one should not dream.

So no, we have to go to the end of the c… .ie to understand and possibly consider a change of trajectory.
I see absolutely no thermodynamics at work in there but on the contrary a HUGE human responsibility in the pursuit of an unsustainable economic system, not to say deadly.
Human laziness / ignorance at work, nothing more.

Further:

Technology is relegated to the role of neutral tool in this story, it is not that which decides.
What decides is,
- the system with its own human-made rules ...

In reality, everything interferes and it is only for convenience of analysis that we compartmentalize reality. Technology is only apparently neutral (and the ideology that promotes it strives to make it believe in order to better impose it), because it can only develop in a very specific context that is adapted to it. To picture, I would say the wheel is irrelevant without the road ...

Of course, technology is not strictly neutral.
If we invent the automobile, we need roads, fuel etc ...
From the moment when its implementation and its consequences (loss of natural spaces, extraction of minerals, etc.) are accepted, technology can be seen as neutral, if and only if this technology is fixed and durable.
Sustainable fuel, recyclable tires, etc.
This ideal car that does not exist, once set up, requires little work and does not require perpetual growth. This is where it is neutral.
Technology can be neutral, it all depends on its design. disposable or durable?
What makes it unsustainable is the growing economic system.
It MUST always do better to dethrone and to sell again.
Technology is hostage in this story. The human being too , while in the natural order of things, he should be in charge and not abandon himself to a deadly economic system, since it is unsustainable.

[eclectron]

What makes me laugh are the "specialists" who spit (as with every bitcoins leap) on bitcoin speculation ... while carefully omitting to specify that stock market speculation (especially on agricultural commodities) is no more. honorable and see worse because this endangers real lives ...

Given the opacity of the cryptocurrency system, we have absolutely no idea what we are doing, or the consequences that it can have.

Personally I see it as a new non-physical (therefore virtual) gold that people trust right now ... A hobby of sorts.
A crash (2021? ) and everyone will fall back on the tangible and the real.
We will speak again