this post was submitted on 26 Sep 2024
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lol, it looks like a cryptocurrency chart.
I wish. Crypto has been depressingly buoyant.
Gotta cook the planet to win capitalism bro
The most obnoxious thing is that hoarding commodities is not capitalism, at least before it's time to unload it on the rubes.
Every time BTC crashes I say to myself, "I shouldn't bet on it coming back, this will surely be The One." Nope, currently higher than it was before the last one.
There's always someone betting it will go up, just as much as someone is betting to go down, but right now, Blackrock and Fidelity own a lot of BTC, and are selling it to investors via actual, official ETF funds.
You can go on Fidelity and buy into this fund without ever touching BTC, and follow the price along with the holders, just like a gold or oil stock.
things are going to be interesting over the next few years. BTC has entities invested in it's future. I don't expect a crash below the ETF price, which... from memory was around $50k, because then investors are in the red.
I'm not in BTC, but it's a fun thing to watch. Personally, I think the mining of it is a cancer to society, but once you strip all of that way, it's just another index fund as long as private entities can manipulate the waves in their favor.
I like gold more. You can make stuff with it, buuut Gold is at an ATH... buuut if Kamala wins, BTC will dump and Gold is a sanctuary hold for a lot of BTC holders, so, man what a year it's gonna be.