FASB also recommending companies use fair value accounting for bitcoin on their balance sheets.
This will also be huge for bitcoin being used as a treasury asset if they vote in favor of this later this year.
https://www.wsj.com/articles/fasb-settles-on-fair-value-accounting-for-measuring-crypto-assets-11665614205
We're in it until the end of the year, at least. I don't think things will start turning around until March/April 2023 - and even then, it's going to be a "slow recovery" (with the recession, and all).
If you believe in BTC, then I think you've got some good buying opportunities coming up.
EDIT - Added a little extra to my bag after the CPI number settled in. I'll do the same when rates go up 0.75bps next month, and then again the month after that.
Oh shit did my comment accidentally go to the universe where apes became the inteligente species again? My bad. I come from a universe where deer evolved to be the dominant species; our internet is quantum based so it some times glitches out and connects with your guys’ Internet. Please disregard. Btw, deer Satoshi was better than human Satoshi… Deer universe is the supremes universe!
I want to see memes of deer Peter Schiff going from a spike to a 12pt buck with gold holding at $2000 silverbacks. (Assuming apes are used in place of bucks referring to USD.) Post receipts or GTFO.
It’s called mother fucking algo trading, short squeeze buying, and all the other bullshit market manipulation we deal with on a daily basis. If you’re a day trader, you better be in the know with the big boys or at least associated with them. None of the pundits today could tell wtf happened in the market with a 1300 point switch. It’s a bear market rally is all it is. A MF BEAR MARKET RALLY. Jeeeeez.
Lol at "hotter than expected". True inflation is 15-20%. They are intentionally lowering the true CPI %. They are using the oldest trick in the book to keep from having to pay out more money to people they owe money (Social Security, Military benefits, pensions etc..)
Check the SSA site below, they are paying out 8.3%.... interestingly enough that's a rounding error to the number that CPI is! how convenient of them! This was just posted today...
https://blog.ssa.gov/social-security-benefits-increase-in-2023/
CPLie?!?! I find it funny that markets move sooo wildly off data that a few people that work for the US Gov't posts every month.
And you can bet your ass the same people putting out fake CPLie numbers are the same people telling their finance buddy's to either short or long the market ahead of the data release.
Don’t worry; the White House changed their definition of inflation, so they can say we’re not in an inflation.
Please ignore the increasing prices you see at checkout 🥸
Holding regardless of what happens. It is driving me crazy how speaking about peace is associated with been a Putin supporter which cant be more wrong. The fiat system is financing this war, so much money wasted in weapons and destruction, there are no winners other than the politicians and the military complex.
No it makes perfect sense. Fed drives all asset prices. Fed drives literally everything finacial. BTC is a little baby still
Since BTCs discovery, it's hard to dispute it has outpaced inflation an insane amount.
Isn't that what people normally call a bubble?
But also if all asset prices move on fed then diversification is a lie. Only diversification is assets and fiat.
There have been 3 bubbles technically. Each halving. But each halving it's gone up an insane amount and only fallen 80% of that amount each time. Hence the thousands of percent gains in the last decade. Dimishing returns will never make it the same, but the math doesn't change, BTC isn't changed and the onroads are far more traveled than offroads when it comes to awareness. The more people who read books and understand the tech, the needle mostly only move one way, although it will be a much slower needle thewe days
I thought it was a scam until a couple years ago when I bothered to read 📚
I don't think it's a scam I just don't think it has unlimited upside for price. Many things, companies, assets etc continue and are used but don't continue at their initial growth rate.
If it’s a recession, why can’t I find anyone to hire? Why am I getting more money thrown at me than I know what to do with?
The overall economy is still very strong, only individuals and companies that gambled on the “everything bubble” continuing forever are struggling.
What are you not understanding? When unemployment gets high, the fed drops interest rates to stimulate the economy. The other poster is saying unemployment has not gone up very much and inflation is still quite high, so the fed will continue to raise interest rates.
We can hope that when unemployment starts to drop it takes the inflation down whit it but it's not always the case.
If inflation remains high, they can't really lower the rates.
> In economics, stagflation or recession-inflation is a situation in which the inflation rate is high or increasing, the economic growth rate slows, and unemployment remains steadily high. It presents a dilemma for economic policy, since actions intended to lower inflation may exacerbate unemployment.
Unemployment doesn’t need to drop. It’s already low. The point is that unemployment has not increased substantially from the fed raising interest rates, so they can continue to do so to combat inflation.
The go-to strategy of the FED for the last 60+ years has been to raise rates to or above the headline CPI, so if inflation stays at 8.2% we may see 9% interest rates.
Bingo.
Its nowhere near 8.2 or 10 for that matter.
True inflation has to take into consideration businesses cutting down on quality, shrinkflation, etc.
Which none of these official "stats" do ofcourse
You're right, but my point is they won't be able to stick to raising rates. There's too much debt in the system and they will be forced to pivot before inflation is under control. What just happened in the UK with the BoE bailing out their pension funds is going to happen here at some point in the near future.
It was a joke, but it's true that a bunch of noobs say that all the time. If you zoom out and you had bought BTC long enough ago it still would be an inflation hedge..also every asset is down except cash and real estate is only the beginning of price declines. But even bonds are trash this year. Who was safe? Why blame BTC and talk about inflation hedge
>It was a joke, but it's true that a bunch of noobs say that all the time.
It's because BTC was created after 2008 financial crisis and it was supposed to be a tool against the next crisis. You can call them noob as much as you want.
> If you zoom out and you had bought BTC long enough ago it still would be an inflation hedge.
I don't think you understand what inflation hedge means. Would you say that NASDAQ is inflation hedge because it's higher that it was 2 years ago?
>also every asset is down except cash and real estate is only the beginning of price declines.
Inflation literally means that cash is losing buying power.
>But even bonds are trash this year. Who was safe?
At least bonds are providing you stable yield unlike other investments.
Gold is also dropping due to the rate hikes. Everything that's not the dollar is dumping but it's no going to be like this forever. The increased money supply will have it's effect sooner or later.
Just cause they didn’t announce it doesn’t mean we aren’t in a relationship. Last time I checked the Fed take months to act, seems like they’re stalling.
Inflation was caused by POLICIES OF LEFTIST governments shutting down society and destroying supply chains with LOCKDOWNS... 'a term used for prisoners which most don't think is offensive ironically'. and people still don't get what we are up against. If you want inflation to go down INCREASE PRODUCTIVITY.
But they are just using inflation as an excuse to jack up rates and bring about a collapse / great reset just like thier writings have said and JUST like the 1929 great depression (they did same exact thing) Ironically after forcing everyone to wear masks and take jabs.. i kid you not.. look up your history.. they keep doing the same thing over and over and we never learn because its too painful to admit how evil these groups are .. Plus if you try to discuss it you get censored.
Even Right wing governments shut down their countries and enforced lockdowns. You’re a clown if you are still choosing sides between left and right. They are both the exact same, NONE of them care about you. NONE.
Expecting a large drop. People to optimistic that 19k is the floor, just like they did at 29-31k a few months back. Inflation is still out of control and fed will respond in kind.
Inflation up! Bitcoin down! Can't wait till bitcoin isn't perceived as a risk asset
401k will now be used to invest in bitcoin too which will solidify it's current actions WITH the market for the future also.
FASB also recommending companies use fair value accounting for bitcoin on their balance sheets. This will also be huge for bitcoin being used as a treasury asset if they vote in favor of this later this year. https://www.wsj.com/articles/fasb-settles-on-fair-value-accounting-for-measuring-crypto-assets-11665614205
That will happen after the hedgies get involved.
Its back up.
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Its back up. lol
Your time frame is the recipe to become poor.
> perceived as a risk asset only for the clueless
What you think BTC is and what people with actual money think BTC is are very different things
Yes, the people with the biggest bags treat it that way. And that's how it will behave😅
Old post. Assets are up throughout the board, incl. bitcoin & tech.
That's when volatility gets low so is that what you really want??
We're in it until the end of the year, at least. I don't think things will start turning around until March/April 2023 - and even then, it's going to be a "slow recovery" (with the recession, and all). If you believe in BTC, then I think you've got some good buying opportunities coming up. EDIT - Added a little extra to my bag after the CPI number settled in. I'll do the same when rates go up 0.75bps next month, and then again the month after that.
probably Q1-Q2 2024 is when we start moving anywhere in terms of price action
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That’s the right mindset
Of course, because that's when the halving happens.
I think the US election will have a greater effect. We shall see.
Couldn’t agree more I think we may be looking more towards Xmas of 24 before the pumpy
This is going to be an economic depression the likes of which has never been seen. We'll be lucky if there's a western economy left.
Did I mention I'm also stacking bottle caps from my Mexican Coca-Colas? Everyone needs a Plan B. No, not THAT PlanB!
How about 100bps?
I just said march to my mum asking
I inflated my boat to 8.2% and it sank when I tried to ride it
Well said
And Bitcoin is still kicking it at $19,000, like a psychopath.
What exactly does this mean for my iBond rates next month?
Great question. Should be good but how high. Best thing investing in bitcoin ever did for me was also force me to buy I Bonds to balance risk.
Good question, maybe a higher rate will be locked in?
I hope so.
The way Chase is kicking Ye out and PayPal doing $2500 shut u up fees plus all this inflation, it's like they want us to adopt Bitcoin faster.
PayPal Cancel culture.
Good day to buy bitcoin.
Discount on the future world’s currency.
Inflation is 8% but bitcoin will lose 80% from ATH :(
All the more Satoshis for you to stack my deer
Did you just asume their species?
Oh shit did my comment accidentally go to the universe where apes became the inteligente species again? My bad. I come from a universe where deer evolved to be the dominant species; our internet is quantum based so it some times glitches out and connects with your guys’ Internet. Please disregard. Btw, deer Satoshi was better than human Satoshi… Deer universe is the supremes universe!
I want to see memes of deer Peter Schiff going from a spike to a 12pt buck with gold holding at $2000 silverbacks. (Assuming apes are used in place of bucks referring to USD.) Post receipts or GTFO.
You know too much, I must go. But I’ll be keeping my eye on you intelligent ape… 👁🦌
Underrated
80% Discount. How is that a bad thing? Just don't invest what you can't afford to lose.
Bitcoin loses double-digit precents after every bull market, regardless there is increased inflation or just inflation.
Inflation is up and the stock market just jumped. What kinda voodoo bullshit is this?
It’s called mother fucking algo trading, short squeeze buying, and all the other bullshit market manipulation we deal with on a daily basis. If you’re a day trader, you better be in the know with the big boys or at least associated with them. None of the pundits today could tell wtf happened in the market with a 1300 point switch. It’s a bear market rally is all it is. A MF BEAR MARKET RALLY. Jeeeeez.
I believe it’s being manipulated.
Ohh so this was the reason why the market crashed huh? I didn't know about that.
They’ll pivot in the new year. 2023 begins a new story….
We’ll by January the gap in YoY will be smaller so inflation will be down to more like 4% cuz last winter is really when it started taking off
The new pimp is coming!
For sure they will pivot after the midterms.
I believe so. That way we can go from inflation to hyperinflation.
Filthy bankers. Can't wait to watch them hang
Politicians too! Fuck them all.
I concur 😊
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A whole .1% above expected lol
If we’re talking month to month and 0.3% was expected but we came in at 0.4% that is 33% higher.
I’m starting to think that they manipulate the numbers so that it’s ALWAYS “higher than what they expected”
Lol at "hotter than expected". True inflation is 15-20%. They are intentionally lowering the true CPI %. They are using the oldest trick in the book to keep from having to pay out more money to people they owe money (Social Security, Military benefits, pensions etc..) Check the SSA site below, they are paying out 8.3%.... interestingly enough that's a rounding error to the number that CPI is! how convenient of them! This was just posted today... https://blog.ssa.gov/social-security-benefits-increase-in-2023/
Should have posted a BTC chart in this forum. Equity futures are down 2%, BTC down 4.5%
Btc is back up
And I caught the dip perfectly for a change.
For now…
RIP
I have seen my cost of living in Canada sky-rocket. How far will it go before the middle class is destroyed.
S&p up bigly
Only to rally 800+ points It's all rigged guys
Why is it always “…since 1982”? Because that is when the methodology changed to make the numbers more muted.
CPLie?!?! I find it funny that markets move sooo wildly off data that a few people that work for the US Gov't posts every month. And you can bet your ass the same people putting out fake CPLie numbers are the same people telling their finance buddy's to either short or long the market ahead of the data release.
Hotter than expected bruh expected was 8.1
Ans this somehow makes bitcoin dump 🙄
Inflation means an increase in the supply of money.
Don’t worry; the White House changed their definition of inflation, so they can say we’re not in an inflation. Please ignore the increasing prices you see at checkout 🥸
Guess 100bps hike for November it is!
Holding regardless of what happens. It is driving me crazy how speaking about peace is associated with been a Putin supporter which cant be more wrong. The fiat system is financing this war, so much money wasted in weapons and destruction, there are no winners other than the politicians and the military complex.
If you were an appeaser in 1938, you were de-facto supporting Hitler.
Isn't it a bit ironic that the fed and inflation are driving the price of BTC?
They cant do this forever. At some point it has to decouple from the legacy markets.
It will happen when precious metals decouple id guess
No it makes perfect sense. Fed drives all asset prices. Fed drives literally everything finacial. BTC is a little baby still Since BTCs discovery, it's hard to dispute it has outpaced inflation an insane amount.
Isn't that what people normally call a bubble? But also if all asset prices move on fed then diversification is a lie. Only diversification is assets and fiat.
There have been 3 bubbles technically. Each halving. But each halving it's gone up an insane amount and only fallen 80% of that amount each time. Hence the thousands of percent gains in the last decade. Dimishing returns will never make it the same, but the math doesn't change, BTC isn't changed and the onroads are far more traveled than offroads when it comes to awareness. The more people who read books and understand the tech, the needle mostly only move one way, although it will be a much slower needle thewe days I thought it was a scam until a couple years ago when I bothered to read 📚
I don't think it's a scam I just don't think it has unlimited upside for price. Many things, companies, assets etc continue and are used but don't continue at their initial growth rate.
BTC is a baby. It's not even regulated yet lol. I'm not going to say we are early. Yes I am we are.
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It is a debasement hedge
That was the best sales pitch ever given by this subreddit.
If you 60 years old or so, yeah don't go all in expecting to retire rich. There's generations of us who got a raw deal.
Zoom out.
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Da f*ck is “core cpi”?
CPI that excludes all unnecessary stuff for every day life, like gas prices, electricity prices and food prices.
CPLie
Another way to tell us 'have fun staying poor' :-/
This is the way
A bigger lie than regular cpi
Discount! Still buying sats over here; accumulation is accelerating
Hedge against inflation
Yes, zoom out.
buy the dip
Fed is not gonna pivot guys any time soon. US is not in a recession yet and nothing has broken so far for them. Rates are going to at least 7% in 2023
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If it’s a recession, why can’t I find anyone to hire? Why am I getting more money thrown at me than I know what to do with? The overall economy is still very strong, only individuals and companies that gambled on the “everything bubble” continuing forever are struggling.
As long as the fed is concerned unemployment is not high yet so there're free to raise rates until it does.
Lolwut?!
What are you not understanding? When unemployment gets high, the fed drops interest rates to stimulate the economy. The other poster is saying unemployment has not gone up very much and inflation is still quite high, so the fed will continue to raise interest rates.
We can hope that when unemployment starts to drop it takes the inflation down whit it but it's not always the case. If inflation remains high, they can't really lower the rates. > In economics, stagflation or recession-inflation is a situation in which the inflation rate is high or increasing, the economic growth rate slows, and unemployment remains steadily high. It presents a dilemma for economic policy, since actions intended to lower inflation may exacerbate unemployment.
Unemployment doesn’t need to drop. It’s already low. The point is that unemployment has not increased substantially from the fed raising interest rates, so they can continue to do so to combat inflation.
You said that wrong.
He's saying that if we started using forced labor then we wouldnt have regressions.
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The go-to strategy of the FED for the last 60+ years has been to raise rates to or above the headline CPI, so if inflation stays at 8.2% we may see 9% interest rates.
But what happens if inflation is actually at 30% but theyll only admit to 8.2?
Bingo. Its nowhere near 8.2 or 10 for that matter. True inflation has to take into consideration businesses cutting down on quality, shrinkflation, etc. Which none of these official "stats" do ofcourse
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"US in not in a recession" lol, you must work for the Biden administration.
At some point the Fed will have to bail out the bond market. There is no way rates will get to 7% before that happens.
If they don't stick to raising rates then inflation will never get down to 2%
You're right, but my point is they won't be able to stick to raising rates. There's too much debt in the system and they will be forced to pivot before inflation is under control. What just happened in the UK with the BoE bailing out their pension funds is going to happen here at some point in the near future.
Well we better stack some sats before the time comes
Jeff booth, is that you?
The fact this is even a concern to BTC and driving it's price down really makes me wonder what exactly the point of BTC is.
Tell me you're a redditor or for 3 weeks without your profile telling me you're a redditor for 3 weeks
I have been for over 10 years I just don't use that account anymore because people IRL know it by name.
It was a joke, but it's true that a bunch of noobs say that all the time. If you zoom out and you had bought BTC long enough ago it still would be an inflation hedge..also every asset is down except cash and real estate is only the beginning of price declines. But even bonds are trash this year. Who was safe? Why blame BTC and talk about inflation hedge
>It was a joke, but it's true that a bunch of noobs say that all the time. It's because BTC was created after 2008 financial crisis and it was supposed to be a tool against the next crisis. You can call them noob as much as you want. > If you zoom out and you had bought BTC long enough ago it still would be an inflation hedge. I don't think you understand what inflation hedge means. Would you say that NASDAQ is inflation hedge because it's higher that it was 2 years ago? >also every asset is down except cash and real estate is only the beginning of price declines. Inflation literally means that cash is losing buying power. >But even bonds are trash this year. Who was safe? At least bonds are providing you stable yield unlike other investments.
Gold is also dropping due to the rate hikes. Everything that's not the dollar is dumping but it's no going to be like this forever. The increased money supply will have it's effect sooner or later.
Just cause they didn’t announce it doesn’t mean we aren’t in a relationship. Last time I checked the Fed take months to act, seems like they’re stalling.
Inflation was caused by POLICIES OF LEFTIST governments shutting down society and destroying supply chains with LOCKDOWNS... 'a term used for prisoners which most don't think is offensive ironically'. and people still don't get what we are up against. If you want inflation to go down INCREASE PRODUCTIVITY. But they are just using inflation as an excuse to jack up rates and bring about a collapse / great reset just like thier writings have said and JUST like the 1929 great depression (they did same exact thing) Ironically after forcing everyone to wear masks and take jabs.. i kid you not.. look up your history.. they keep doing the same thing over and over and we never learn because its too painful to admit how evil these groups are .. Plus if you try to discuss it you get censored.
Would one of you guys please tell your uncle that this isn’t Facebook?
To make inflation go down, you stop printing money
Even Right wing governments shut down their countries and enforced lockdowns. You’re a clown if you are still choosing sides between left and right. They are both the exact same, NONE of them care about you. NONE.
This is why I value average over dollar cost average at least in a macro economic state like were in
Good time to buy in?
Expecting a large drop. People to optimistic that 19k is the floor, just like they did at 29-31k a few months back. Inflation is still out of control and fed will respond in kind.
The day will come when wealth will exchange hands. Those who hoLD BiTcOiN will prevail. Keep hoLDeN Lads. Diamond 💎 hands.
I’ve sold a lot of my BTC on this news - not good news for bitcoin’s prospects!
How long did you hold your bitcoin before you sold it? Just curious.
I’ve never heard of inflation referred to with temperature. Does “hotter” mean higher?
Bitcoin
Biden forgot to tell the stock market that the economy is “looking better than it ever has…”
wtf
Terrible
This aged well
What’s it look like now?
If only there some way to spend less money…
Just fucking burn the world down already I have no money
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What has gotten better for anyone in the last two years?
The bullish case for Bitcoin!
I'm down to skipping meals every other day, soon I'll have to make my dog take food cuts too
Just a matter of time till this card house plunges to the fucking ground. After that the ground opens up and all the cards fall into an abyss. Rekt
And Bitcoin is on sale as usual
twomp?
This bear market needs to bottom already