3 ms·

I say it again and again. China owns a big chunk of US equities and an even bigger chunk of Bitcoin holdings. The first sign of any conflict between US and Chin

by dzink 1y ago

I say it again and again. China owns a big chunk of US equities and an even bigger chunk of Bitcoin holdings. The first sign of any conflict between US and China interests is always a dump in those.

Gathering6678 1y ago
Not sure about the true/false of your premise, but a potential conflict between US and China will adversely affect all risk assets, which include US equity and crypto (unless you are one of those who equate crypto to gold). However, I don't think you could reverse the thinking and try to associate US-China conflict with a market disturbance solely based on the previous observation.
- Imustaskforhelp 1y ago
  >unless you are one of those who equate crypto to gold There are cryptocurrencies which are equal to gold (paxg) Those and some good stablecoin like USDC are all that I trust. I literally have all my money that I ever got somehow from people with whom I worked/coded as a teen but couldn't get a bank account. https://justforhn.mataroa.blog/blog/most-crypto-is-doomed-to-fall-the-tech-is-cool-though/ https://justforhn.mataroa.blog/blog/most-crypto-is-doomed-to... TLDR: I repeatedly mention that crypto doesn't make sense but the tech behind it could enable things like stablecoins but they won't make anyone 100x money but that is the point of them and I love them for it Here is the last paragraph which I wrote which might be apt right now > The tech is cool, but it is doomed to fall and if it doesn't, then I am fine too, I don't care. I am happy with my index funds and gold and even basic stablecoins. I am content. I don't want 100x returns. Also fun fact: This article That I wrote repeatedly urged stripe to create a stable cryptocurrency themselves and few months after this article stripe released a collaborated stable cryptocurrency or something which was super nice to me as that's what I wanted. Not sure what the progress is on it but I saw it on HN and it looked super dope and exactly what I wanted if they integrate it into stripe nicely. Edit: https://tempo.xyz/ https://tempo.xyz/ is what I was talking about
  - cyberax 1y ago
    What's the difference between a stablecoin and a regular boring old bank? Answer: no regulations on stablecoins. And we all know how unregulated markets never ever lead to problems.
    - Imustaskforhelp 1y ago
      Agreed. Its just that sometimes these regulations would've made damn hard for me to get money without having something like paypal and that had its bunch of issues as well I think that even in the article I had wrote that 99% don't need stablecoins as well but for people for whom USD or gold access could be hard, I can maybe see some usecase but then again as I said 99% don't need it but for the 1% like me who did, that's all there is to worry about. Maybe monero can have some usecase too since people use it as an actual currency but even then I would only buy monero in low quantity and still keep most money in stablecoins or most preferably banks as you said.
bfg_9k 1y ago
A 25% move in crypto isn't a catastrophic swing. Nor is $6bn in liquidations for some leveraged traders. If they're going to liquidate anything because they need the cash, it will be US treasuries first, since they're the easiest to sell in the largest amount of size.
nradov 1y ago
You can say it as many times as you like and you'll still be wrong. China owns about 1-2% of US equities. Dumping those would only be noise. And no one cares about Bitcoin: if it goes to zero there would still be no noticeable impact on the US economy.

by dzink 1y ago

I say it again and again. China owns a big chunk of US equities and an even bigger chunk of Bitcoin holdings. The first sign of any conflict between US and China interests is always a dump in those.

Gathering6678 1y ago

Not sure about the true/false of your premise, but a potential conflict between US and China will adversely affect all risk assets, which include US equity and crypto (unless you are one of those who equate crypto to gold). However, I don't think you could reverse the thinking and try to associate US-China conflict with a market disturbance solely based on the previous observation.

Imustaskforhelp 1y ago
>unless you are one of those who equate crypto to gold There are cryptocurrencies which are equal to gold (paxg) Those and some good stablecoin like USDC are all that I trust. I literally have all my money that I ever got somehow from people with whom I worked/coded as a teen but couldn't get a bank account. https://justforhn.mataroa.blog/blog/most-crypto-is-doomed-to-fall-the-tech-is-cool-though/ https://justforhn.mataroa.blog/blog/most-crypto-is-doomed-to... TLDR: I repeatedly mention that crypto doesn't make sense but the tech behind it could enable things like stablecoins but they won't make anyone 100x money but that is the point of them and I love them for it Here is the last paragraph which I wrote which might be apt right now > The tech is cool, but it is doomed to fall and if it doesn't, then I am fine too, I don't care. I am happy with my index funds and gold and even basic stablecoins. I am content. I don't want 100x returns. Also fun fact: This article That I wrote repeatedly urged stripe to create a stable cryptocurrency themselves and few months after this article stripe released a collaborated stable cryptocurrency or something which was super nice to me as that's what I wanted. Not sure what the progress is on it but I saw it on HN and it looked super dope and exactly what I wanted if they integrate it into stripe nicely. Edit: https://tempo.xyz/ https://tempo.xyz/ is what I was talking about
- cyberax 1y ago
  What's the difference between a stablecoin and a regular boring old bank? Answer: no regulations on stablecoins. And we all know how unregulated markets never ever lead to problems.
  - Imustaskforhelp 1y ago
    Agreed. Its just that sometimes these regulations would've made damn hard for me to get money without having something like paypal and that had its bunch of issues as well I think that even in the article I had wrote that 99% don't need stablecoins as well but for people for whom USD or gold access could be hard, I can maybe see some usecase but then again as I said 99% don't need it but for the 1% like me who did, that's all there is to worry about. Maybe monero can have some usecase too since people use it as an actual currency but even then I would only buy monero in low quantity and still keep most money in stablecoins or most preferably banks as you said.

bfg_9k 1y ago

A 25% move in crypto isn't a catastrophic swing. Nor is $6bn in liquidations for some leveraged traders. If they're going to liquidate anything because they need the cash, it will be US treasuries first, since they're the easiest to sell in the largest amount of size.

nradov 1y ago

You can say it as many times as you like and you'll still be wrong. China owns about 1-2% of US equities. Dumping those would only be noise. And no one cares about Bitcoin: if it goes to zero there would still be no noticeable impact on the US economy.