Get dawg money!

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Macro Afternoon

Yesterday my seventeen-year-old nephew told me he was advising a range of folks on how to make dog money.

Maybe this is the crack-up boom.

David Llewellyn-Smith
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Comments

  1. TheRedEconomistMEMBER

    I had a similar conversation with a mate on the weekend,

    Alot of business are trading excess stock (which would have ended up in the bin) for bitcoin.

    They are happy as the excess stock is gone to the new owner and they have a bitcoin balance they can use to buy more imput’s for their business.

    If the bitcoin rate appreciates, that BTC they received for there excess stock can buy another potentially better asset or service.

    My mate is working as a agent and he get a fee for getting businesses on this.

    He reckons local Indians business owners love it Sydney’s Northwest and is widespread in the Gold Coast.

    • Frank DrebinMEMBER

      If they can sell it for Bitcoin, why can’t they sell it for normal fiat ?!

      • TheRedEconomistMEMBER

        They can sell it for both.

        If a customer has plenty of Qoin in this case, they may want to buy it with BTC instead of cash. They may not wa t to use cash. But they may come back if they like your product and buy something else.

        You would not sell all your good for BTC .. but it may get customer enquires that turn into sales if you offer a BTC price as well.

        If it drives traffic and customer interest and the goods are received, then it is worthwhile.

  2. Lord DudleyMEMBER

    Yes, yes, yes! MOAR crypto-currencies! The MOAR, the better! Here’s why…

    … in order to function as money, a thing must have several traits. It must be durable (i.e. not go rotten), portable, divisible, fungible, and SCARCE. The more crypto-currencies there are, the less they satisfy the scarcity requirement.

    I for one am glad these things exist, because it keeps all the hottest money away from real investments where I like to park my money.

    Of course, The Onion foresaw all of this:

    https://www.theonion.com/recession-plagued-nation-demands-new-bubble-to-invest-i-1819569940

    “Current bubbles being considered include the handheld electronics bubble, the undersea-mining-rights bubble, and the decorative office-plant bubble. Additional options include speculative trading in fairy dust—which lobbyists point out has the advantage of being an entirely imaginary commodity to begin with—and a bubble based around a hypothetical, to-be-determined product called “widgets.””

  3. It’s kinda sad how people look to false prophets for investment advice and then assume because someone got into a winner that they might have some unique skill…

    My investment focus is on FICC and it’s darn hard work. In my worst year (2016) I lost about 4% and in my best I make about 18-20%. When people boast about their returns, my initial reaction is to simply think; call me in 20 years…

    People rush from one “best thing” to the next, and then don’t talk about all the losses they have, only the winners. Dogecoin will come, and just like pets.com it’ll go…

  4. arescarti42MEMBER

    I thought I was the only one who liked the Remy videos on Reason! There are some absolutely cracking parodies.

  5. Ronin8317MEMBER

    I honestly believe crypto is an insidious Chinese plot to destroy the Western economy.

  6. mikef179MEMBER

    DogeCoin is lipstick on a pig. 99% of dotcom companies in the 90’s were trash. 1% weren’t. Same with coins. Bitcoin is good, Doge is trash.

    Don’t be the guy who looks at the 99% and starts talking about “bricks and mortar” being more important. We all know what happened to those guys.

  7. mikef179MEMBER

    DogeCoin is going to be a disaster for most of the young people who get sucked in. It has no development team working on it or maintaining itand pretty much no companies developing applications on top of it. It has a constant high inflation rate (4 million new coins coming on to the market every day forever) that have to keep being absorbed by new buyers forever just to maintain the price. It’s literally the worst thing ever for holding value.

    it’s really sad to see honestly.

    It’s obvious Musk is trolling to get his jollies from all this, but a lot of people will be hurt as a consequence.