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On the contrary, the sound faith in cryptography, as exemplified by the spike in monetary value of cryptocurrency, most notably in bitcoin, is of relevance to t

On the contrary, the sound faith in cryptography, as exemplified by the spike in monetary value of cryptocurrency, most notably in bitcoin, is of relevance to the crowd at hackernews, e.g. the cryptopunks and cipherpunks that remain loyal to the conversation at hackernews.

1996 6y ago
When home prices rise by 11% in the midwest right in the middle of a pandemic, with high unemployment and people fearing for their job, I do see an asset bubble https://www.cnn.com/2020/11/12/success/home-prices-rising/index.html https://www.cnn.com/2020/11/12/success/home-prices-rising/in... It will get bloody.
- DarthGhandi 6y ago
  It's not the assets that are growing in value, it's that the money it's measured in is losing value. Global interest rates and bond yields where they are is a simple measure of that.
- api 6y ago
  The Midwest homes going up is driven at least a bit by fundamentals. Decent cities in the MW are collecting exodus from NYC, SF, etc. and those people are all paying list or above due to reverse sticker shock. You can get a palace in Indiana, Ohio, etc. for the cost of a mediocre apartment in those places, and now that we are actually using this communication system we built why not? But other than that... yes there is a lot of pumping, and I don’t see it stopping any time soon. Their hands are tied.
  - Fjolsvith 6y ago
    Not to mention low interest rates. Stupid not to refi when the tax break will cover the interest. And if you're going to refi, why not upgrade?
  - 1996 6y ago
    It's 13% nationwide. Some markets may be taking a dive to the exodus, but >10% can't just be explained by interest rates. > I don’t see it stopping any time soon. Their hands are tied. Yes, we're in for a ride, and it will get bloody.
    - rdtwo 6y ago
      Absolutely driven by fundamentals. We lost almost 25% off long term rates if houses are fixed at monthly payments then price has a ways to go to equalize.
api 6y ago
Loyal? Tell me Bitcoin isn’t a cult.

1996 6y ago

When home prices rise by 11% in the midwest right in the middle of a pandemic, with high unemployment and people fearing for their job, I do see an asset bubble https://www.cnn.com/2020/11/12/success/home-prices-rising/index.html https://www.cnn.com/2020/11/12/success/home-prices-rising/in... It will get bloody.

DarthGhandi 6y ago
It's not the assets that are growing in value, it's that the money it's measured in is losing value. Global interest rates and bond yields where they are is a simple measure of that.
api 6y ago
The Midwest homes going up is driven at least a bit by fundamentals. Decent cities in the MW are collecting exodus from NYC, SF, etc. and those people are all paying list or above due to reverse sticker shock. You can get a palace in Indiana, Ohio, etc. for the cost of a mediocre apartment in those places, and now that we are actually using this communication system we built why not? But other than that... yes there is a lot of pumping, and I don’t see it stopping any time soon. Their hands are tied.
- Fjolsvith 6y ago
  Not to mention low interest rates. Stupid not to refi when the tax break will cover the interest. And if you're going to refi, why not upgrade?
- 1996 6y ago
  It's 13% nationwide. Some markets may be taking a dive to the exodus, but >10% can't just be explained by interest rates. > I don’t see it stopping any time soon. Their hands are tied. Yes, we're in for a ride, and it will get bloody.
  - rdtwo 6y ago
    Absolutely driven by fundamentals. We lost almost 25% off long term rates if houses are fixed at monthly payments then price has a ways to go to equalize.

api 6y ago

Loyal? Tell me Bitcoin isn’t a cult.