There are still lots of long-positions ~60:40
When the stock market crashes further, those get triggered! So don´t look for price levels. Prices are not predictable but possible direction can be modeled!
Everytime the stockmarkets opens there is a jump in positive correlation with Bitcoin and it gets crushed a bit further. Far over a Billion in long positions is set in place for a detonation.
In the long run it becomes better
imagine the long/short ratio flips and there are lots of shorts ready to blow up. In the case that the stock-market goes up, this would be a massive jump in BTC. So stay calm and be cautious.
Imagine how fast the reaction of goverments would be under a prediction market
[I have no problem with these politicians in particular. I have a problem with politics for important decision making]
You think you are an expert? Fine deposit 10k, 100k, ... and make your proposal
"policy xyz (closing the border immediately,...) reduces the infection rate at around 50%"
Deadline in 7 days
Now, all the other experts see your proposal and the intelligence of the market will decide whether your proposal is going through. Only informed people will bet. They are through a long selection process of decision making. This is why they hold lots of the decision-token. You can transfer the token because you cant transfer expertise. You can only exit the market by burning it for Fiat.
With a system like this, the virus would be slowed down within a few weeks. Probably even with the first attempt, because the threshold to get something through which is of that high priority, --> would require lots of other experts betting on your proposal.
THIS <-- is a collusion resistant mechanism, where the best decision will ALWAYS win. Politics kills.
Lets be realistic
Intellectual yet idiot Systems like politics will always be around. Idiots will stay in power with brutality and cruelty or like in the western world, because they usually do their jobs "OK", while failing in a humanitarian crisis. But I hope, that at least in the future we will see expert systems in crypto-ecosystems like Steem. Right now, the Influence of the Ninja-stake is still to strong. But freedom will come from unexpected sources of social interaction...
Crypto Gaming one of the winners? - When fictional currency beats Fiat!
Some Industries are very well adapted to the new economies and the new world we see these days. One of them is gaming. Gaming is still a centralized market, but increasingly social.
- ~2,4 Billion Gamers
- Streamers like Ninja earn 500k per month only with streaming
- new creative possibilities
(Kevin Chou talk at a16z 2020)
The EDM musician Marshmallow gave a virtual concert in the online game Fortnight. 10.7 Million people watched it! He made a 300% jump in album sales and 24k% jump in earnings from streaming.
making money with games and in-game items is still very hard. And you (like me before) probably think, that this is just some first-world luxury phenomenon. Well NO! While the national currencies of certain countries are in the free fall, people in regimes like Venezuela go online and earn in-game money - FICTIONAL currency. Like some World-of-Warcraft gold. They work in a computer game and cut wood or dig for gold (in a f**king game) and sell the in-game money on ebay or other markets. The game is able to provide them income while the central-government cant!
The virtual gold in "World of Warcraft," the online role-playing game, is now almost seven times more valuable than real cash from Venezuela, whose economy is in shambles. (CNN 2018)
When a 2001 online game is feeding people
Venezuelan ‘Gold Farmers’ Are Selling Runescape Items for Bitcoin
Gold farming is the practice of playing a massively multiplayer online game (MMO) to acquire in-game currency later selling it for real-world money.[1][2]
People who hold full-time employment as gold farmers often reside in developing nations.[3]
(Wikipedia Gold farming)
My personal research...
is still going on. There is some time left before I re-posses my crypto positions. I dont care about the dollar value, I want to use the market movements to accumulate more and more digitally scarce assets like ETH and Bitcoin.
While my friends and family talk about toilet-paper, the biggest transfer in wealth happens right before our eyes. In my opinion, right now (except for your and your families/friends health) nothing, NOTHING should be more important than to be awake. It is not about getting "super rich", it is about not getting rect. Young people will be disproportional more affected by sleeping right now than older folks. Every "crisis" brings a lot of growth. Older folks participated in the aftermath of the biggest crisis in modern day history (WW2), they acquired lots of wealth in the 70s,80s,90s. When you are 20-40 right now, you probably better don´t bet on a world war. Imagine we keep operating in the status quo modus operandi. Chances are good, that you will have literally no future --> comparable to someone growing up in the golden years. Yes you are probably more safe against total poverty but you will have no family, no children, no free time. You will be an over-qualified wage-i all your damn life. Work or else somebody else will took your job. Just my opinion.
[Acceptance]
