Yes, crypto winter is indeed upon us. I did see the notes from other members and it has been a week or two. I figured I would, I guess chime in, give a little update over the past two weeks. So the Fed Reserve on June 1 started its first billion dollar removal from the monetary system. What the Federal Reserve will be doing is pulling $30 billion per month out of the system that it put in, starting with the pandemic
Nicholas Rogers
@Mrrogers81 · 0:31
You know, I'm not quite sure why I asked that question. I guess maybe I was just curious to see if anybody actually cared or kind of a baseline of the pulse is out there, I suppose with the limited amount of reach, I suppose. All right. Thanks. And I appreciate your reply. I was very succinct and articulate and find it fascinating
I really appreciate Nick your approach with updating politics and economics and kind of where we are heading because I myself am pretty removed from that. So even if you just started creating daily or biweekly updates for kind of like the market or something like that, I feel like you would probably generate a lot of traffic to your small cast. Just a little side note, but yeah, this is super interesting, guys. Thanks for laying out there and being passionate about this and being willing to open up and share
Jack .
@zejacques · 3:12
But there's actually really great people, really great teams, and really great products out there being built. They're just the five or 10% right now. So I don't look at assets in terms of speculative value. I'm looking at them through utility and long term use. Keen to hear everyone's thoughts. Thanks
Nick G
@NickGweezy · 4:52
It's unfortunate, but most of these crypto projects will go bust because I don't know how many of these decentralized games we need to play where you buy a token with another token, which starts with the dollar anyway, crypto created a new cash register, a new mechanism, but they didn't make new money. It's a medium. There's a reason you don't spend Bitcoin. It's a commodity. You don't spend gold, you put your money in it to hedge against inflation
Jack .
@zejacques · 2:11
It has created a slowing down of renewable energies that would solve a lot of these problems that you're mentioning. I really do believe in the next five to ten years we're going to see an acceleration in these technologies that have been held jack by industries such as fuel. So I'm looking at the bigger macro position here and right now, because crypto assets are so new and we're so early, they're just super coral related to what's happening in the world