RE: Fiat Pairs : Dangerous Game
Yeah, this is all more or less what I expected. It seems like most of the first world is willfully ignorant of what's going on. Behind closed doors I can easily imagine a lot of high powered people feeling powerless to stop the oncoming onslaught. The Chinese have more openly noticed and seem like they are posturing to grab more economic power when the crash comes but I'm not sure it's within their capability to benefit because they are so heavily exposed to the potential fallout.
I don't know what this will ultimately mean for crypto. My expectation is that it will initially take a hit in the same manner most asset classes will, after that there's a fair chance money will flood into it in a desperate attempt to escape the ever more obviously rigged financial system. Although it might take multiple cycles of this for it to shake off the stigma surrounding it and become a legitimate new frontier for financial management.
Also, I LOVE toblerone!
It didn't upload my Sealab 2021 .gif. How disappointing.
Almost a month back - Wow, time flies when you're having fun. - the VIX went insane, Credite Suisse's inverse ETF the XIV went equally bonkers and everyone who made the mistake of betting against the establishment was told:
It wasn't fun. A near-200% spike in volatility, which people predicted, should have made bold and wise men millionaires. It made them nothing.
China immediately shut down all trading on their XIV-equivalent ETF. Countries are just bracing as hard as they can so they can blame some other nation for the inevitable economic collapse.
What it will mean for Crypto is that nationally backed currencies will be viewed as the garbage they are. People might finally catch wise to the dollar as the single largest pump and dump scheme in existence. You're right. I expect a lot of monetary influx, but it won't be from individuals, as individuals don't even have enough money to buy in with all the high bank fees associated with crypto purchases. The rich will get richer and the poor will get poorer.
Savor the Toblerone. It is a haven in these troubled times.