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Thread: Bitcoin....who's gotten into it?
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06-05-2023, 04:34 PM #12626
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06-05-2023, 04:37 PM #12627
What does this have to do with the price of bread? Because while bread is in the CPI that's evaluated in inflation, this sure as shit isn't.
Apple tax is a whole other animal. For laughs, go look at the price of this: https://www.apple.com/shop/product/M...it-for-mac-pro
Then search any reputable M2 SSD.
It's always been that way with them.
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06-05-2023, 04:42 PM #12628
I’m in Truckee.
Closest data I can find is SF area:
”FoodFood prices decreased 0.7 percent for the two months ending in April.”
https://www.bls.gov/regions/west/new...nfrancisco.htm
Gas is down globally. That’s why Saudi Arabia just announced new efforts to prop up the price.
Housing is super painful right now. It’s not a good time to buy. Just like it wasn’t when I was ready to buy at the peak of the housing bubble. I get that it sucks, but sometimes shit happens that’s out of your control.
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06-06-2023, 06:23 AM #12629features a sintered base
- Join Date
- Apr 2002
- Location
- Impossible to knowl--I use an iPhone
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- 13,142
No, it's not. The 2022 release from the SPR accounted for a drop in prices of about a dime to a quarter per gallon of gasoline...in 2022. 26M more barrels were released in February of this year, and we're now waiting to purchase oil (no further releases from the SPR). Supposed to buy 3M barrels soon, but the timeline is (probably deliberately) unclear. You want to explain oil prices? Look at OPEC and forget about whatever happened last year with the SPR (FWIW, during the first 50M barrel release gas prices went up about $.50/gallon). I understand why you want to speculate and misrepresent facts, but it's ultimately not helpful.
Was going to just leave it at that, but in your very next sentence...
Food here is where I am feeling inflation the most; empirically I'd say it's running 20-30% YOY.[quote][//quote]
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06-06-2023, 08:46 AM #12630
Also, most current inflation is being driven by profit motives and as industries are much more consolidated there's no one to price war them out of it.
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06-06-2023, 01:57 PM #12631
Gary sues Coinbase. BTC +5%. LMAO
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06-06-2023, 02:14 PM #12632
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06-06-2023, 05:45 PM #12633
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06-07-2023, 01:11 AM #12634Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
Henry David Thoreau
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06-10-2023, 09:15 AM #12635
Thanks for the "protection", Gary.
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06-10-2023, 09:59 AM #12636
Been a while since a weekend hit job. Long term chart is not great
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06-10-2023, 01:18 PM #12637I have been in this State for 30 years and I am willing to admit that I am part of the problem.
"Happiest years of my life were earning < $8.00 and hour, collecting unemployment every spring and fall, no car, no debt and no responsibilities. 1984-1990 Park City UT"
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06-10-2023, 02:52 PM #12638
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06-10-2023, 02:55 PM #12639
Yes we will. One difference is.... you care. 6/24/2026, its a date.
Hope you are doing well.I have been in this State for 30 years and I am willing to admit that I am part of the problem.
"Happiest years of my life were earning < $8.00 and hour, collecting unemployment every spring and fall, no car, no debt and no responsibilities. 1984-1990 Park City UT"
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06-10-2023, 03:35 PM #12640
People who don't care sure spend a lot of time in this thread.
Hope you're well too and the shoulder isn't keeping you from enjoying a proper summer.
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06-10-2023, 04:26 PM #12641
The Things that Amuse You thread is rarely as amusing as this one
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06-13-2023, 08:25 AM #12642
Hey, so goods inflation was transitory:
Services inflation appears to have been transitory:
And shelter seems to be turning the corner:
https://www.calculatedriskblog.com/2...vices.html?m=1
So since the Fed seems to have inflation under control, no need for Bitcoin, right?
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06-13-2023, 08:32 AM #12643
Oh yeah, and headline inflation is 1.5%, but I was assured it was crazy talk to think it would be below 3% by end of year…
Attachment 461822
https://jabberwocking.com/cpi-down-in-may-sort-of/
Edit: For clarity - prices are up 4% over the past 12 months, but inflation is currently running 1.5%. Every reason to expect that as the older data drops out and new data comes in, we’ll be at/below 3% year-over-year price increases by the end of 2023.
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06-13-2023, 02:51 PM #12644
Probably nothing.
https://twitter.com/DeItaone/status/..._7dkW_sTQ&s=19
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06-13-2023, 03:04 PM #12645
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06-13-2023, 03:25 PM #12646
Yeah two ways to look at the inflation data: 1) Glass half-empty 3 and 6 month core inflation are the same and there are only a few months left to clock year-over-year declines 2) Glass half-full, there is a path to a lower level of inflation as goods normalize and housing/rent follow suit.
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06-13-2023, 03:52 PM #12647
Sounds like I may not be the only one who follows Mike Konczal.
Housing deflation is pretty much baked in at this point:
https://twitter.com/markzandi/status...sR_NcRK2VkCfkg
The data series used for shelter costs in official CPI has a long lag (something like 6 months I believe), but more real-time data series have been showing declines, which will be reflected in official CPI in the coming months.
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06-13-2023, 04:24 PM #12648
The trend is our friend and the stock market certainly agrees. One way to think about inflation however is that it behaves like ketchup flowing out of a bottle. Month-to-month is at ~2% but month-to-month is also more volatile. While the Fed might pause, I don't think the Fed is ready to start loosening yet. We can say inflation is being conquered. We can't yet say inflation is conquered.
In the context of bitcoin narratives, BTC has always responded to liquidity. It's a risk-off, not a risk-on, asset so despite what we are told in this thread inflation, interest rate hikes and tightening are bad for crypto prices.
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06-15-2023, 01:46 PM #12649
Terrific self-own by the US Feds.
https://news.bitcoin.com/hong-kong-w...lawmaker-says/
Also, Black Rock to file for BTC ETF. RIP cucks that sold their BTC to Black Rock.
https://www.coindesk.com/business/20...in-etf-source/
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06-15-2023, 02:39 PM #12650
BTC ripping on the news?
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