XRP is centralized.
”Digitalization is inevitable and decentralized privacy will be king.” — Vitalik Buterin
Everyone now knows that digitalization is inevitable. It’s why China is coming out with a digital currency. Facebook and other companies as well.
They believe people want digitalized currency. What people really want is a decentralized digitalized currency based on blockchain technology. There needs to be no central authority. The entire point of crypto is to move away from central authority because central authority leads to interference, manipulation and corruption.
Pull up a chart on the VIX....that is reverse split adjusted. This is not fear in my opinion but the bond market should be freaking out the equity market. We are still over 25k....25k folks, this isnt 7k and 1k on the NAZ here..
Absurd how freaked out some are to a very very very small drop.
It’s going to keep dumping. Housing market is next. I was driving into Boston this morning and counted 14 cranes building high rises in and around the city. That’s on top of the 20+ high rises that are already complete. The skyline has completely changed.
Plus every city and town within a 1 hr drive of Boston has new luxury condominium complexes complete or under construction.
The term ‘saturation point’ came to mind.
I would buy an elec car if the prices go down. I have solar installed and have for 9 years, its been a solid investment and I produce an excess so if elec cars with capacity come down in price for sure I would buy one. I have not thus far because I am milking my current vehicle to save cash but why not...its free to me since Ive already got a full return on my investment and my system produces more than I need except a few months in the summer.
One more comment on this oil situation. If Russia is trying to knock out our shale/fracking industry I guess they can do so. Our fracking industry is toxic and destructive to the environment and they leveraged the crap out of themselves to try and push market share. Nobody forced these companies to lever up as they did but if Russia is right and they can suppress prices for an extended period then fracking might get knocked out or at least the pure players will like Continental and it looks like CHK is swirling already. The shale/fracking approach was to attack and gain share and then be able to gain a foothold and take control from OPEC. I think the way that the shale group tried to be so aggressive so fast was not smart even with cheap debt. Lets see how it plays out but the big guys will hang around like XOM and maybe that is how this goes, the big players absorb the leveraged and small and oil prices go back up to the 70 range which is probably where they all want it in the mid to long term.
Detox, that's a pretty good description of how I see it too in regards to Saudi Arabia.. They sure are pissed off at the Russians. lol. Wall described the oil situation quite well, too. The primary difference this time is that the small oil/gas operators don't have the backing of Wall Street like they did before. Years ago when OPEC tried to break the backs of the U.S. fracking revolution, these small operators had the backing of Wall Street to finance their operations, happily endorsing them to spend so frivolously at keep pumping, pumping, pumping, and going further into debt.. No More. That game has ended. Wall Street is looking for returns now, and these smaller operators are suffering big time. If oil stays sub-$50/barrel for an extended period of time, bankruptcies and a (mini?) credit crisis in the oil patch will soon follow.
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